Evening journal., 1913-10-07
DELAWARE At
BIG MEETING
OF BANKERS
John S. SOSSeII and 5. D.
TOwnSeid Read Reports to
the American Association
SEVERA INSTITUTIONS
OFSTATE REPRESENTED

Charles r. Miller, president of the
Farmer Bank Wilmington Branch;
John s Rossell, vice-president OF the
5ecurif Trust and Safe Deposit Com
oany: J. Chester Gibson, vice-presi-
lent Z Union National Bank; Wilmer
Paint president of the Wilmington
savin,s Fund Society; S. D. Towns
end Eice-president of the Whining
.on Tust Company; Charles B. Evans
and /. L. Maloney, of the Security
Trus aud Safe Deposit Company;
Ezelel Cooper, cashier of the Farm
srs'Bank; and John B. Smith, OF Mil
lord
N Rossell vice-president for Del
avire in the American Bankers AS
ISOLATION, in his report said
THE financial institutions Of the
site. during the past year, have main
tined their high record of efficient
ID successful management and for
feady and substantial development
I business. 1t can be truly said OF
he 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 $5,0OO,OOOi
deposits exceeding S10,000,000 and to-
tai resources of more than Sl5,OOO,-
0O0 The fifteen trust companies re-
port over S5.O00,O0O of capital, sur
plus and profits, deposits of more
than S12.0O0,000 and resources ex-
ceeding S17,O00,0OO. The two savings
banks, located in the city of Will
mington, have surplus and profits OF
1900 600. deposits of over Sll,OO0,-
600. and total resources in round
numbers of S13, 900 900.
The banks and trust companies are
largely represented in your associa-
ton. A number of new members
we're added during the past year, anc
II 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 no
been active for a long time. The as
sociation met in Wilmington on Sep
tember 8, 1918. Banks and trust com
panies Of the state holding member
ship in your association, and a mum
ber OF other institutions, we're repre-
sented at the meeting.
Hon. Charles R. Miller, Governo
Of Delaware. delivered an interesting
address, commencing the member
for the earnestness and zeal, whicl
they manifested, and encouraging ther
to still greater efforts in promotin
the high purposes OF the banking in
stitutions of the state. The splendi
spirit shown is positive proof tha
Delaware banks and trusts compan
ies are alive 10 the needs Of tn
times and henceforward Delawar
will be found in its proper plac
among its sister states. in all matter
relating to business and finance.
"The banks and trust companie
holding membership in your associa
ton made the following nomina
tions:
For vcie-president for Delaware
Hon. Charles R. Miller
For member of executice council
Wilmer Palmer, Esq.
For member Of nominating com
nittee. Hon. Charles H. Maull."
Mr.. Rossell told of the adoption {
resolutions againEt the Glass-Owen
currency bill and of the officer
named for the Delaware Banker
Association.
S. D. Townsend made the follow
ing report to the trust company se'
ton of the American Bankers AssC
citation for the state Of Delaware:
+ Gentlemen: During the past yes
all of the non-member companies
this State were circulated from Il
home Office as "a the advantage TO I
gained from a membership in our a
sociation. A month later this W;
followed up by letter from tn
Office stronglylu urging them TO ioi
Although these efforts have not bee
overly PRODUCTIVE to date, feel tn
considerable interest has been arous'
and we hope D get results later o
During the year l succeeded
having published in THE EVIsNIN
JOURNAL, orfi Of our leading dailie
ali of the articles sent out by yol
ONCE in thl educational publici
campaign. Tlese articles were wild
" read and cry favorably CONNER
ed upon. and | have had numero
requests that they be continued.
Zone item II interest to our secti
is the taking over during the year
the Wilmington rust Company of t
of the oldtt and largest NatioI
Banks in th State. i. e., the Natioi
Bank of Wilmington and Brandywi
which begail business in 1910 and h
at the tim. of its liquidation capi
and surplt of S650,O00, depos
around Sl.3OO00. and the First \
tional Banl of Wilmington, which
gan businet in 1864 and which had
the time d its liquidation capital a
kurplus q 100000 and deposits
about 81 10000 and the taking over
the Farmds' Bank of Newark. the
Eonal Bak of Newark. which beg
business : 1865 and had at the time
It's liquiation capital and surplus
glO5.00O nd deposits of S36000O
"As an evidence of the growing pl
lie confidence in trust companies, Il
worthy 4 note that in the above m
toned canges, although the stock v
held in eleven different states. ev
stockhoIer asented to the change
over niety-tve per cent. of them
cepted Jock in the trust companies
lieu otcash.
"ThS result of the absorption of
two Ntional Banks in Wilmington
the Wilmington Trust Company she
The tcal resources of the banks in I
,ity ave been reduced, practically
10000, and the total resources of
trustcompanies have been increased
abou the same amount.
"I the movement to reorganize
Del&are Bankers Association, wi