New-York tribune., 1910-07-16
MR.. CHENEY ADDRESSES
BANKERS OF THE STATE
The State Superintendent Dis
cusses Supervision" at
Cooperst0Wn.
MOTT CHOSEN PRESIDENT
Controller Williams Says He
Hopes TO Return to His Pro
fession Next January
Pleasure Trips.
TBv Telegraph to Tho Tribune. J

TRv Telegraph to The Tribune
Cooperstown y. Y. July 1.-THE perfect
summer weather which the visiting bank
ers are enjoying in this beautiful and his
toric town and the lateness or the ending
of The annual dinner last night. contrib
I-ted to make the second business session
% the State Bankers Association conven-
ZION this morning q very short cne. lasting
less than an hour Then. too the associa-
ton has departed from its custom Of hav-
ing addresses by two invited speakers at
each session O. II. Cheney, State super
sntendent of Banks. made the only address
TO-DAY. as Congressman Treeland was the
sole speaker yesterday; and in contrast
with last years convention, when there
was long and spirited discussion incident
n g contest for the presidency, the entire
ticket reported to-day by the nominating
committee was elected without dissent by
any member.
The session to-day was opened with
prayer by the Rev. Ralph Birdsan. Of
Cooperstown and after the adoption of the
report OF the council Of administration.
recommending that the council he author
tied 70 appoint q permanent secretary. with
headquarters in New York City. President
CogsweIl introduced the Superintendent Of
Banks. who made a brief address on the
subject of Bank Supervision
Mr.. Cheney preraced his remarks by COM
plirnenting the committee or arrangements
OF the success Of last nights dinner and
the excellence OF the speeches. adding that
in view OF the quantity Of liquid assets
which It had been possible for the bankers
70 accumulate st the dinner there might
Re occasion for surprise that so many were
taking an interest IN bank supervision this
morning.
Growing Interest in Banking.
Turning 10 his topic, Superintendent
Cheney noted the increasing interest shown
during the last ten years by the general
public IN finance and the problems pc
culiar 70 banking and the growing neces-
Kity felt by the bankers themselves for .
more exhaustive study and analysis OF good
banking. With the growth of general in
1erest in the profession had come de
1laad from the bankers. as well as the
public. for more Intelligent and compre-
Iensive laws governing the regulation and
supervision Of financial institutions. The
purpose Of bank examination. Mr- Cheney
continued. was TO secure soundness and
conservatism in the banking system. for
the Banking Department was primarily the
representative OF every depositor in the
state In bank examination one Of the first
essentials was TO have the courage OF ones
convictions. for influence, power o. politics
could have no weight with properly con-
Quoted banking department II carefully
exercised the arbitrary power OF the de-
pzT1mert 70 compel the elimination Of
doubtful assets was welcomed by the con-
servstive banker.
Mr.. Cheney went on TO refer in compi;-
rTentarv terms 10 the achievement OF his
predecessor. Clark Williams. in securing
Valuable amendments 10 the banking laws
O. The state, in which the duties and re-
sronsIbilities OF directors were more clearly
defined. adding:
Public opinion is demanding more and
more each day OF the man who assumes a
dictatorship Of any organization. The time
is coming when the director who does not
direct instead of being the eager recipient
OF unesrned fees. will find himself criu1i-
l.aIlv responsible for neglect OF duty
System OF Frequent Conferences.
As a consequence of the growing com
plexity Of banking. due TO large conbina-
lions and 10 the elimination OF time and
distance by broader conveniences. prob
lens were constantly coming up for solu-
zion. the Superintendent continued. and
70 meet these conditions a system of fre-
Quent conferences Of the deputies and ex-
aEiners had been instituted at which the
weak points Of the examinations were dis
cussed and improved methods devised. Re
ferring 10 the state bank examiners, Mr.
Cheney added:
In my opinion they are energetic en-
thusiastic and efficient Thanks 70 the
Civil Service Commission, we are now ad-
ding 70 the service men rated upon their
experience. education and personality
rather than upon mere ability to answer
written questions. We are obtaining expe-
rienced hank men of dignity and Judgment
the material from which capable ex-
smiDers viii be developed"
Following Mr.. Cheney's address the pro.
Eramne allied for q full and free discus
zion of the subjects OF Segregation Of
Saving Deposits ana Bills of I.adins"
hut when President Cogswen announced
that the floor was at the disposal of any
speaker there were no responses me
members present apparently being desirous
Of escaping as soon as possible and enjoying
the freedom Of the inviting piazzas and
shaded lawns. seen through the big open
windows Of the assembly room.
Vote Thanks to Many.
The committee on resolutions presented
the customary report, which was adopted
conveying the thanks OF the association to
the committee on arrangements, and par
ticularly D. H Pierson. its chairman. VINO
has devoted q great deal OF time TO the
TASK OF making the convention Of 1910 :
success: 70 the COCPerstown committee
the speakers AZ the business meetings. the
speakers and singers al the annual dinner
the clergymen who opened the business
sessions with prayer and the hotel man
agement, ending wiki an omnibus clause
10 include any who might have been
omitted in the Tecited list
On the suggestion OF President Cogswel1
a motion was adopted authorizing the ap-
pointment % a committee of five to
be named by hi--. 10 cooperate with a
similar committee Of representatives. Of