Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-09-15
BAN PUT ON "NOTE KITING''
SECTIONS MEET SEPARATELY
State Bank Supervisors Elect Clark
williams Of New York
President.


tant divisions OF the American Bankers
Association, the trust company section
and the clearing house section, met today
in place of q session OF the main con-
ventlon.
The work taken up by the two Sec
tons is considered by the bankers to
be as important as the main business
meetings. and the sections were attended
by host of delegates.
The officers Of the sections made their
reports and open discussion OF details
of the financial problems to be met in
trust companies and clearing houses oc-
cupied much OF the time.
In the trust company section Daniel
s. Remsen Of the New York bar was
Administration Of Wealth." while In the
clearing house section different systems
OF clearing house work In various states
were considered.
Those not actively engaged in the sec
Ind, to visit the steel works.
Clearing House Report.
At the clearing house section meeting
the report OF the secretary OF this branch
OF the American Banking Association
which is carrying on 4 vigorous cam
paign advocating the appointment OF
clearing house examiners. was read.
1.-THE advantages Of this plan." the re-
port says. have been clearly set forth in
many ways. 1t Is conceded that the
adoption Of the plan would put banking
on higher plane and would be of last
ing benefit to the public. The campaign
carried on by the section has certainly
created sentiment in favor Of this move
ment. and it Is developing day by day.
off IN vI,h Ia
aminers are now In vogue are as fol
lows:
Chicago. Philadelphia, St. Louis, San
FRANCISCO. Minneapolis, st. Paul. Kan
Of Philadelphia and St. Joseph having
lately fallen into line.
The section has now under considera-
ton the working out Of plan for a uni
form method Of reporting the weekly ex-
changes by all the associations Of the
country. and feels confident some system
of accounting may be evolved which will
be generally put into force.
The section has also started to do
all In its power to suppress the business
to this business carried on by so-called
brokers'"
Perine's Trenchant Remarks.
Trenchant paragraphs from the address
of Edward T. Perine, president Of the
Audit Company Of New York. held the At.
tention Of the trust company section.
I'm all the figures which have been sum.
married." said Mr.. Perine. there Is none
the fact that panic conditions have been
superseded by an era OF real prosperity
than to know that with only a slight in.
crease In the number of trust companies
the total deposits for 1909 have reached
the important total Of three billions Ave
hundred and sixty-seven millions Of dol.
lars. an increase of $685., OOO.OO0 for the
year, or ~ per cent, and an increase OF
one billion two hundred and six millions
for the five years. which is An increase OF
The address was replete with statistics
showing the condition Of the various trust
companies represented at the section
meeting.
President Jackson Of the trust company
section said in his annual address that in
the thirteen years of the sections exist
ence the wisdom OF its existence had been
amply justified. He said it had q men,
bership of nearly 1000 companies. repre-.
senting resources of four billion dollars.
For Protective Laws.
The committee on protective laws re-
ported to the trust company section that
its efforts to protect the word trust
to provide for efficient state supervision
and to place In the category Of crime the
circulation of false reports of a bank g
condition. have been particularly active.
The National Association of Supervisors
of State Banks elected Clark williams of
New York president: ]. NJ. Appel Of Illi-
nois. first vice president; J. L. Nahum
dro. Washington. second vice president;
H. NJ. Zimmerman. Michigan. third vice
president; J. NJ. Jones. South Dakota,
chairman Of the executive committee;
Giles L. Wilson. South Carolina, secretary
and treasurer.