Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1909-09-15
NEW MEXICO BANK
ERS' ASSOCIATION
Convenes for Two
Days Session in
Capital
ANNUAL ADDRESS
Delivered by Mayor r. ].
Palen to Convention This
Afternoon.

The New Mexico Bankers Associa-
ton met in second annual convention
in Santa Fe this forenoon After be
ing formally called to order and the
exchange of greetings, adjournment
was taken to this afternoon, when
Major R. J. Palen, president of the
association, delivered the following
address:
The New Mexico Bankers Associa-
tion began it's career under very prom
Using conditions in February 1906 at
the organization meeting at Albuquer-
que, and the annual meeting at Las
Vegas, in September of the same year
the first and last annual meeting un-
til the present-continued the favor
able outlook for the success of the as
sociation, but the panic of 1907, while
fortunately it did not unfavorably af-
feet any of the units of the association,
did apparently paralyze it as a whole,
as it was deemed advisable to abandon
the annual meeting of that year, and
for some reason unknown to me, the
executive committee omitted to desig-
nate any date for the annual meeting
ent meeting should be the fourth, it is
as shown on the program, the second ;
however, let us hope that We have
awakened from our two years hiberna
tion with fresh force and vigor, and
that henceforth the association will
have vigorous, active and useful life
need not enlarge on the usefulness
of such a combination; it enables us
to exert our combined strength and in
| fuence to secure the desirable and tt
eliminate the Objectionable; to dis
seminate what we believe to be soun(
and to expose the fallacies and weak
ness of what appear to use to be un
sound and vicious measures in finance
and business. This, aside from the per
sonal element of the affair, the com
ing together at stated intervals o
those engaged in similar enterprises
facilitating and increasing persona
acquaintance, and we must all admi
the desirability of knowing something
of the personality of those with whom
We exchange business by actual con
| tact and social mingling, is ample rea
son for the existence of such an asso
J citation as ours No individual can b,
fully and entirely known by CORE
spondence alone; to judge a man intel
| ligently one must have some persona
! knowledge Of him, and no correct es
innate of man in most cases is pos
| sible without such knowledge. w
should have in this association the en-
tire banking force of the Territory
every bank, banker, and every bankin'
| organization of whatever nature shoul,
| join the association, and thus give i
! the power and weight of the entir
banking fraternity of the Territory
! That power and influence should be eN
I SibioCo IOI thC SCliCl al
and financial welfare of New Mexico
and not solely for the exclusive benefi
and profit of the banks, except SO ia
as what benefits ALL should benefit il
the largest measure those who labo
| especially to secure such a desirabl
result No banking concern which i
I md nI an md ,Ch
basis can offer any valid objection t
| the purposes of such an organization
as ours. No banking house which as
pireS to well-founded reputation TO
| honesty of purpose and intention, cal
| reasonably oppose that measure o
( regulation and supervision on the par
of the state essential to the prevention
of designing rascality, and consequen
loss to those poorly equipped in mos
cases, to guard against the insidiou
approaches of the financial charlatal
and wrecker, who seeks to exploit tn
public on it's own contributed resouro
es, and grows rich perhaps, withou
thC lIeIAol u vi d SlHSlC lloliSoI uOi'1
of his own, or failing such a result
dissipates the resources of his dc
positors in doubtful schemes. This an
similar associations are organized t
ensure an honorable method of bank
ing based on the capital of those intel
ested, in reasonable amount sufficien
to furnish adequate security to pc
irons, and also to guard against tn
concerns whose capital is exclusivel
confined to the funds of their dc
positors; concerns built on the prir
ciple of heads win, tails you lose
and such an organization certainly dc
serves the cordial support and cooper
alton of all right minded persons er
gagged in the banking business, as wei
as the favorable consideration of tn
public at large. It is organized not t