The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-06-25

tbs customary at this stage OF the
association for the president to sub
nit IFS annual address. In compll-
ance with that custom shall very
briefly offer few remarks on the
banking business of West Yirginia
as itspresents itselfsto me. 1t is not
necessary, indeed might not be APP
propriate, for me to offer my extend
ed ssuggestions as to new methods to
be initiated for the. improvement Of
banking facilities, and betterments or
in criticism of sdold methods, but /
will say stlatseertafn great good has
grown out ofsthe institution Of this
association and its annual meetings.
and also. the meetings. of-tlle groups
where active interest las'been taken
Ioiseourel the attendance of members!
These meetings have given more in
innate personal acquaintance among
the members, have been fruitful Of
exchange Of ideas, and have estab-
lished % sort OF fraternity among the
members, all Of Which have done
much TO advance a greater uniform
ity Of method along better lines Of
local banking. There is still much
to do gtoNplace the business in West
Virginia on higher and more eff
cient plane of both usefulness and
profit to the banks as well as the
general interest of the several COM
mnnities in which they are located.
IAneed scarcely to say to the bankers
who are present here on this occa-
sion, that II we could secure some
thing like a uniform and lower raj lie
OF Interest on deposits throughout
West Virginia we would have accom-
plishedf a great deal for the banks
and widen their opportunities for
helpflilness to general business. be-
i cause their growth and influence
would expandga they were rcliev-
ed from an interest. paying incubus
that III SO many cases reduce theft
profits below fair compensation for
the investment and risks of the bank
ing business. It is equally certain
that ia MISUNDERSTANDING among
thetbanks Of each locality that would
enable them Jointly TO appraise prop
Serlys the true credits which should be
extended to borrowers who do bust
ness with more than one institution
would frequently save loss and EN-
barrassment TO all without in the
least impairing the obligations rest
ing on each to take oil possible legit-
Innate business that is presented
when the solveney and tile business
ability Of the borrowers are unques-
toned = There are many other ad-
ssantagessw which banks would derive
from a clover Interchange OF ideas
and information and from a closer
4 bond fellowship and confidence be-
tween their respective managers.
4 There will be promoted as their Off
GERS become better. acquainted with
one another and learn that there, is
common community of interest be-
tween them that can be more fully
served by Friendship and mutual con.
fidencelthan. by prejudice or business
rivalry that in many cases is. almost
5yeiied hostility. These annual meet
ingst and the meetings of the various
groups will tend to establish this
kind &of regard and confidence, and
ifS nothing more were gained than
this, they would be Of inestimable
value toSthe banks OF tile state. But
Y they are doing much more than this.
Seldom one Of these meetings passes
that lWeSdo not have one or more ad-
dresses from men of high standing
and great experience in the financial
world, and therefore they become in
"a sense not only, experience meet
ingss at which local interests are
freely discussed, but bankers insti-
tntes at which fundamental princi-
pies Of banking are exponnded by
those whose successes permit them
TO speak authoritatiyely on many
questions Of vital interests to tho
banking business. For these and
ether obvious REASONS 1t is a matter
OF congratulation that the interest;