The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-15
mark INC CONCLUSION Of .he Convention

/ 4 +.
In his annual report to the associa-
ton. General Secretary Frederick e.
Farnsworth was loud I'm his praises Of
Richmond and OF Southern hospitality.
! Concerning this city the report says
| IN part: The convention of our as
ISOLATION now being held In Richmond
is the forttetb in the history OF our
organization, and the second conven-
ton 10 be held IN the city Of Rich
mond-our twenty-sIxti convention
having met fsre In 1900
The convention of 1900 was a pro-
nounccd success with Southern hos
pit;litH unabounded.' The annals OF
the social features of the convention
call to mind the entertainment given
by John II. Branch, who to-day Is still
active, despite his advanced years and
now the dean Of the profession In
Richmond. IL not in the State of NIr-
sinia, and, who will, with MI bank
ers In Richmond, extend the warm
hand Of welcome"
In the report the membership of the
| association ut the close of the fiscal
year, August 81, 1918, is given as a.,
100. while Mt the close of the current
fiscal year the membership was 1920,
an increase of GO. The aggregate cap
ital. surplus and deposits of the mem-
bership We're given In round numbers
as 15,000,0 600. 600, and the total income
| OF the association is s24G.400 n year.
FAILED TO PREVENT LAW AGAINST
INTERLOCNING DIRECTORATES
The annual report of Thomas Il.
Patton, general counsel for the asso-
citation, deals at length with the failure
of the American Bankers Association
to induce Congress to strike from the
antitrust bill the. section prohibiting
interlocking bank directories. The
bill i'll question will soon go to the
House of Representatives,, and the pro-
visions relating to the interlocklng
bank directoratcs will become effective
two years from tho date of the Presi-
dents approval of the act.
The following reports. including tho
financial stutemcntsj of the various sec
lions, were submitted and approved by
the assoclation:
Trust company section--Receipts, SS,-
594S5; disbursements, s7,934.0S; ball
ance. $780,
Savings bank section--Receipts. So
519.2S; disbursements. sa,197.10; balance,
S322.lS.
clearinghouse section-Keccipts. &c.
i27?.3O; disbursements, sG,O21.70; balance.
S257.60.
State secretaries sectlon-Reccipts
S1,iO0: disbursements, Sl,233.62; balance,
1G6.3S.
American Institute Of Banking-Re-
ceipts, s1l,324.63; disbursements, SILL
305.13: balance, $3.50.
MANY MEMBERS USE
REFERENCE LIBRARY
An increase of SO per cent in the
number of inquiries answered, and Of
90 per cent in the number of loans
was shown in the annual report of the
librarian, Miss Marion II. Glenn. The
report strikingly indicates that mem
bcrs OF the association are taking adj
vantage of the library and reference
department as bureau of informa-
ton.
TheSeport of Treasurer ]. w. Hooper,
explaining the most approved methods
for the Investment of capital, proved
OF great interest to members of the
association. The report Indicates that
cash on hand at the end of the present
fiscal year is approximately $4,000
larger than has been shown since 1907.
In accordance with n long-established
custom, the association, according to tho
report. has kept it's surplus funds in
vested in high grade securities.