Evening journal., 1913-10-07
DELAWARE At
BIG MEETING
OF BANKERS
John 5. ROSSeII and 5. D.
Townsend Read Reports to
the American Association
SEVERAL INSTITUTIONS
OF STATE REPRESENTED


Gohn S. Rossell, vice-president OF the /
Security Trust and Safe Deposit Com /
oany; J. Chester Gibson. vice-presi-
lent Of Union National Bank Wilmer
Palmer, president of the Wilmington
Savings Fund Society; S. ID. Towns /
end. vice-nresident of the Whining
on Trust Company; Charles B. Evans
and L. L. Maloney, of the Security
Trust and Safe Deposit Company;
Ezekiel Cooper, cashier of the FARM
.rs Bank; and John B. Smith, of Mil
lord.
Mr. Rossell vice-president for Del
aware in the American Bankers AS
sociation. in his report said
The financial institutions OF the
state, during the past year, have main
tanned their high record of efficient
and successful management and for
steady and substantial development
OF business. It can be truly said Of
the banks and trust companies of Del
aware that they are conducted for
the accommodation of the public and
that the relations between them and
the commercial, industrial and agri-
cultural Interests continue. as IN the
past, on the basis of mutual helpful
ness.
The thirty national and state banks
Of Delaware have a combined capital,
surplus and profits of over S5,000,0OO,
deposits exceeding S10.000,000 and to-
tai resources of more than $4,000
600. The fifteen trust companies re-
port over S5.000.00O of capital, sur
plus an profits, deposits of more
than S11.000.O00 and resources ex-
ceeding $1,000 900 The two savings
banks, located in the city OF VIII
mington, have surplus and profits Of
81 500 600. deposits of over S1i,00O,-
600, and total resources in round
numbers Of 100000.
"The banks and trust companies are
largely represented in your associa-
ton A number of new members
we're added during the past year, and
IL is confidently expected that before
the next annual convention assem-
bles others will have been enrolled.
The chief event OF the year was
the reorganization of the Delaware
Bankers Association, which has not
been active for a long time The as
ISOLATION met In Wilmington on Sep
tember 3. 1913. Banks and trust cont
panies Of the state holding member
ship in your association. and a num-
ber OF other institutions, were repre-
sented at the meeting.
Hon Charles r Miller, Governor
of Delaware, delivered an interesting
address, commencing the members
for the earnestness and zeal, which
they manifested. and encouraging then
to still greater efforts in promoting
the high purposes Of the banking in.
stitutions OF tbe state. The splendid
spirit shown Is positive proof thai
Delaware banks and trusts compan
les are alive to the needs Of th'
times and henceforward Delaware
will be found in its proper place
among its sister states. in all matter.
relating to business and finance.
"The banks and trust companies
holding membership IN your assoeia-
ton made the following nomina-
tons:
For vcie-president for Delaware
Hou Charles r. Miller.
"For member of executice council
Wilmer Palmer, Esq.
For member Of nominating com
mittee. Hon. Charles H. Maull"
Mr. Rossell told Of the adoption o
I resolutions against the Glass-Owen
currency bill, and of the officer
named for the Delaware Bankers
Association.
S. D. Townsend made the follow
ing report TO the trust company sec
ton of the American Bankers Asso
citation for the state of Delaware:
Gentlemen: During the past yea
all of the non-member companies c
this state were circulated from tn
home Office as to the advantage to b
gained from a membership In our az
association. A month later this wa
followed up by a letter from thi
iffice strongly urging them to joil
lthough these efforts have not bee
Nerlv productive to date, I feel thi
pnsidrabie interest has been arouse
nd we hope to get results later OF
During the year I succeeded
Aving published in THE EVENlN
bURNAL, one Of our leading dailie
4 of the articles sent out by vol
fice in >~the educational publicii
lmpaign. These articles were wild
read and very favorably commen
] upon, and have had numerol
Annests that they be continued.
Cone item Of interest to. our secti
the taking over during the year
he Wilmington rust Company of t'
Of the oldest and largest Nation
Ranks in the State. j. e., the Nation
Bank OF Wilmington and BrandywiI
which began business in 1910 and h
at the time of its liquidation capt.
and surplus Of S65e0O0, deposi
around 81 100000. and the First \
tional Bank of Wilmington, which
ya1 business in 1864 and which had
the time of its liquidation capital a
Surplus OF 100000 and deposits
about Sl,400 000 and the taking over
The Farmers Bank of Newark. the \
.ional Bank OF Newark, which beg
business in 1865 and had at the time
It's liquidation capital and surplus
sl05000 and deposits of s36O,0OO.
As an evidence of the growing pi
lie confidence in trust companies, II
worthy Of note that in the above M
toned changes. although the stock "
held in eleven different states. evI
stockholder asented to the change a
over ninety-fve per cent. of them
cepted took in the trust companies
lieu of cash
"The result of the ABSORPTION Of
two National Banks in Wilmington
The Wilmington Trust Company she
The total resources OF the banks in &
.itv have been reduced, practically
100000, and the total resources of
rust companies have been increased
about the same amount.
ON the movement to reorganize
Deleware Bankers Association, wh
nae recently verx. hnpDi1v accom- NJ