New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-07-06
Officer of the Chamber of
Commerce Succumbs at
Summer Home.
BANKER ACTIVE IN
EDUCATIONAL WORK
Expert on Mercantile Credits
Took Leading Part in Re-
lieving 1907 Panic.

Word was received in New York yes
terday Of the death at Golden Bridge
Y. Y, of James G.. Cannon, vice-presi-
dent of the New York Chamber Of
Commerce. director in half a dozen
banks and a member Of the board OF
trustees Of several educational insti-
tutions. Mr.. Cannon's business assoc
ciates were not aware that he had been
seriously III, and the news Of his death
came as a shock. He owned a country
place at Golden Bridge, and had gone
there for the summer.
Mr.. Cannon, who was born at Delni,
Y. Y. had just passed his hfty-eighth
birthday. He was a director Of the
Fifth Avenue Bank, chairman of the
board of the II. W. Manville
Company, and a director in the Bank
ers' Trust Company, the Fidelity Trust
Company, the Metropolitan Trust Com
many. the United States Guarantee
Company and the United States Mort
gage and Trust Company. He was a
trustee of New York University and
other schools.
Mr.. Cannon wrote "Clearing Houses,
Their History. Methods and Admins
tration," published several years ago
and much used as a financial textbook
lie was for many years president OF
the Fourth National Bank, and was
largely concerned in the promotion OF
educational work among banking stu
dents through his association with me
American Institute of Banking, 70
which he gave substantial support.
Twenty-Five Years in Chamber.
In his twenty-nine years Of member
shin in the Chamber Of Commerce Mr'
Cannon had served as its treasurer
chairman of its executive committee
and as a member Of many OF its more
important financial committees.
lie was appointed to the committee
on national bankruptcy law IN 1917;
was made chairman of the committee
on finance and currency in 1908, when
the reform Of the national banking
system was being discussed, and in that
capacity submitted a report on the cur
rency legislation pending in Congress
Mr.. Cannon helped reorganize the
finances of New York City by his re-
ports on the city's debt limit, It's &C,
Counting system and its resources ano
credit
As an official of the New York Clear
ing House, in 1907, he took leading
part in relieving the panic OF that year
Began Career as Messenger.
Mr.. Cannon's esrly education wa
begun in the old Delhi Academy. Hi
family moved TO New York in 1872 an'
he attended a grammar school in Eas
Fiftv-seventh Street He then en-
tered Packards Business College
where he was graduated in 1873, AM
in the next year entered the bankln.
business as a messenger in the Fifti
Avenue Bank. which has GRADUATED
many successful bankers. He becam
paving teller, and in 1881 was appoint
cd assistant cashier, being promoted q
cashier later in the same year AM
elected TO the board Of directors.
Mr.. Cannon devoted a great deal o
attention to the subject Of mercantile
credits and took a hand in puttlnl
many bankrupt institutions on thei
feet. lie was at one time president o.
the New York State Bankers Associa
ton. which he helped to found. II
1897 he was treasurer of the Republi
can National Committee.
lie was one Of the organizers and
president of the National Association
of Credit Men, and it was he who n
stituted the system requiring mer
chants to submit statements Of theii
financial condition when they wanted
loans