Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-09-15
Important Sectional Meet.
ings Take Up Day at
Chicago.
REPORTS BY OFFICERS
Deposits With Trust Companies
Make Remarkable Growth
in Year.

Chicago, Sept. 1.-two important
divisions of the American Bankers as
sociation, the trust company and clear
ing house sections, met today in place
of the session of the main convention.
The work taken up in these sessions
is considered by bankers quite as inn
portant as the main business meetings
of the convention. Officers made their
reports and an open discussion of de-
tails of financial probleus to be met
in trust companies and clearing houses
occupied much time.
Talks of Post AIertem Administration.
In the trust company section Daniel
S. Remsen of the New York bar was
scheduled to speak on The Post Nor
tenn Administration of Wealth." and in
the clearing house section different sys-
tens of clearing house work in the
various states were considered.
Move for Exan.IHcrs Successful
At the clearing house section meet
ing the report of the secretary on the
campaign for the appointment of clear
ing house examiners was read. It
shows good progress has been made il
the adoption of the plan. An address
by Edward T. PeTine, president of the
Audit Company of New York, held tn:
attention of the trust company section
He cited statistics showing deposits
with trust companies are now $3,5G7.-
100000. an increase of % per cent for
the year
Reports Succeas.
The committee on protective laws
reported to the trust company section
its efforts to protect the word ''trusi'
and provide for efficient state super
vision and place in the category of
crime the circulation of false repottS
of banks condition have been par
ticularly active. Seventeen states
have enacted suitable legislation.
Supervisors Elect.
The National Association of Super
visors of State Banks elected Clark
Williams of New York president, J. NJ
Appel of Illinois and II. NJ. thinner
man of Michigan vice presidents. AMI
J. NJ. Jones of South Dakota chairman
of the executive committee.
For Gold Reserve.
In the annual address 10 the clear
ing house section President L. F. Nc.
DougaI declared emDhatically i'll favor
of a gold reserve i'll all banks.
Commenting On practice OF holding
bank notes in the reserve funds OF
the. banks McDougal said "a repeal
of the laws permitting state banks to
carry bank notes in their reserve Is
needed. The custom Of carrying
United States treasury notes in re
serve is equally unsound, but not as
unsafe. A small active cash reserve
is vastly better than a much large!
fictitious reserve"
Hill Gives Warning.
Chicago. Sept. 15.-That the United
States is threatened with dry rot be
cause those who till the soil are con
stantIy flocking to the cities, was the
statement made yesterday by Jane.
J. Hill. chairman of the board of the
Great Northern railroad, in an address
on National Wealth and the Farm a
the first days session of the annua
convention of bankers.
Mr.. Hill hoisted a danger signal wei
/ calculated to attract the attention
of students of economic condition:
throughout the land when he said tina
we are now and have been for NOR,
than a generation, in spite of ou
boasted progress, in grip of a revo
luton that has preceded declinin:
wealth and falling institutions wher
ever it appeared since the dawn O
history.
Some Telling Points.
Some of the telling points in the ad
dress are as follows:
The idea that we feed the world
being corrected, and unless we can il
crease the agricultural population an
their nroducts the question of q sourc