New-York tribune., 1922-10-02
American Association to
Hold Preliminary Meet
ings To-day and Conven-
ton Opens Tomorrow
Enthusiastic Over
Business Outlook
Reginald Mckenna and
[. W. Lamont Among
the Speakers at Sessions

With thousands Of representatives of
the nations banking institutions In
the city and other thousands scheduled
to arrive during the day, preliminary
meetings Of the forty-eighth annual
convention Of the American Bankers
Association will be held to-day. The
general convention will open tomorrow
morning with Thomas B. McAdams
president, in the chair.
Coming at a time when business
throughout the country gives evidence
OF sustained recovery, the convention
wlil be of more than usual significance
Domestic prosperity brings into sharp
relief disturbed conditions Of Europe
and the seven thousand or more fnan-
cial experts of the country will give
more than passing attention to inter
national affairs in the weeks sessions
In this connection the addresses of
the Rt. Hon. Reginald McKenna, chair
man of the London Joint City and Mid
land Bank, the largest banking institu-
tion in the world, and Thomas w. La
mont, of j. P. Morgan & Co., one
Of the worlds foremost international
bankers, will be of special interest
Their words and the subsequent dis
cussions will focus attention of the
financial community and the public on
questions of worldwide importance,
Whether Or not the delegates give Of
fcial expression of opinion on the pro-
posed cancellation of war debts or SINH
lar problems, the convention will serve
to bring out full discussion OF these
topics, which undoubtedly will prove
worth while.
Lamont to Strike Keynote
In preparation for the general con-
vention tomorrow, delegates will de-
vote to-day to sessions Of committees
and divisions which are to make re-
ports to the general body. Group meet
ings are scheduled from s in the morn
ing until 8 o'clock at night, and many
important topics will be discussed.
The convention will get fully under
way tomorrow, with Mr.. Lamont's adj
dress on "The American Bankers Re-
sponsibility To-day" as the principal
feature. This will be followed by Mr..
McAdams's address as president.
In discussing t-e topics to come be-
fore the convention, Mr.. McAdams
said: "Two outstanding problems per-
plex us-industrial controversy and
unrest at home and international
financial difficulties abroad. In the
solution of these questions the banker
has a distinct community position and
obligation as counselor and adviser to
the millions of people who have con-
fidence in his Judgment, integrity and
patriotism. To these problems the
American Bankers Association will ad-
dress itself with unmstakable vigor."
Mr. McAdams said this country was
look forward to increasing prosperity
in commerce and industry, provided
carelessness and selfshness are not
allowed to undermine the stability Of
our citizenship"
Anxiety Over Europe
Other bankers were enthusiastic over
business and industrial developments
in their communities and expressed the
opinion that genuine, stabilized re-
covery might be expected in the year
ahead. A firm foundation has been
laid for better business in all lines,
they said.
Several called attention to the Euro
pean situation, which at the moment is
causing anxiety in financial and indus
trial circles.
"The European situation is, of course,
the barometer" said J. A. House, presi-
dent of the Guardian Savings and Trust
Company, Cleveland, "and American
business conditions can improve no
further nor any faster than the eco
nomic problems of Europe will permit.
/ have come to the conclusion that the
European problem Is Of such magni-
tude and so farreaching in it's results
that it is now the worlds problem, and
the United States can no longer with
hold it's influence without suffering
more by it's exclusion than by its par
ticipation.
"Undoubtedly there is further liqui-
dation to take place." Mr.. House con-
tinued, speaking of domestic affairs,
Especially with reference to labor cost
and material prices. l believe, how
ever, that the demand Of the country
for the next year is such that these ad-
justments will have to be deferred.
We have probably passed through our
first fiat spot in business following the
war and will experience an active mar
ket at substantially present prices for
possibly two years"
M. A. Trayloc, president Of the First
Trust and Savings Bank, Chicago, also
dwelt on the Importance of the Euro
pean problem. "The trouble does not
tcontlnued on page sevon)