The New York herald., 1922-10-06
BANKERS ADJOURN
GREATEST MEETING,
DIVERSIONS TO-DAY
Golf Tournament and Trip
to West Point Arranged
for Visitors.
GUESTS AT GREAT BALL
Alvin w. Krech at General
Session Calls for Ten Year
Debt Holiday.
McKENNA UPHoLDs VIEWS
Convention Calls for Definite
Help to Europe and for More
Economy Here.
McKENNA UPHOLDS VIEWS

ne lOTly-elSl SChNShNADt'
of the American Bankers Association,
greatest and most successful In Its
history and with an attendance more
than double that Of any Of its prede-
cessors, virtually came to an end yes
terday.
There yet remain some other di-
versions New York has provided as
host to her 10000 guests. The big
river steamboat Washington Irving
was not found capacious enough to
accommodate all the thousands who
yearned to see West Point and its
snappy cadets to-day as guests OF the
local committee of 100. So the steam
boat Sandy Hook was chartered also
And after the capacity Of both craft
had been exhausted and the multitude
continued to clamor, the committee
last night arranged to carry the
overflow" on two special trains, leav-
Ing Grand Central Terminal at IL
o'clock this morning.
Then too there will be golfing to-day
in competition for sundry silver trophies
including three hip TASKS with con-
cave finish, which have been much adj
mired while on display-and a dinner
OF the Golf Division" this evening at
the Waldorf Astoria, at which the
trophies-including the flasks-will be
presented to the winners.
Trust Division Meets Last.
The more serious business of the con-
vention ended in the efternoon with the
session of the trust company division
in the main ballroom of the Hotel COM
modore. Even while it was in session
scores of Boy Scouts. helped by hired
hands, were busy dismantling the cor
ridors and other apartments of the
Unitarian paraphernalia OF the week
and decking them for last nights grand
ball.
Presiding over the final session was
I Arthur House, president Of the trust
company division and also of the Guar
dian Savings and Trust Company or
Cleveland He described In his opening
address the marvellous growth in the
number of trust companies operating
in the United States. The chairman
then introduced as the principal speaker
~ the afternoon Alvin w. Krech, presi-
dent of the Equitable Trust Company
of this city. He chose for his theme.
Keeping Faith with Europe"
Favor. Ten Year Moratorium.
Mr.. Krech declared that, even on
uractical and selfish grounds. we are
vitaIIy interested in the restoration OF
European solvency and In the main
N talIa from
our abundance. 1t is our plain duty.
be held. 20 accelerate the process OF
her reha biltation.
The trust company president re-
viewed the points on reparation en-
phasized by the Rt. Hon. Reginald Nc
Kenna on Wednesday in his notable
address. Speaking of the British ex-
chanceiior's assertion that Great Britain
vas able and ready to discharge her
own debt TO the limit, Mr.. Krech
touched off the most demonstrative APP
plause of the day when he said:
Gentlemen. British pride and British
honor have always been the finest col
lateral in the world -
The New York banker, however,
differed in some measure with the
English financial expert. Mr.. Krech
held that "A cancellation Of the war debts
of France and Italy would not In any
way ntlp the fAllltS ~ SoiitSN iiVhh Sti
many The remedy suggested by the
speaker was defined by him in these
terms:
IL propose that we should take n leaf
. out of Secretary Hughes's book and de-
clare holiday of ten years for our
continental Allies. during which the
debt would be considered non-ex-
istent After the ten years have elapsed
the question of the cancellation should
t.. -. n
in much better position and also In
much better mood to approach so vast
N proposition"
MorEeuthnu Praises Britain.
Though he had lot been scheduled
on the program. Henry Morgcnthau
one time Ambassador to Turkey, was
called TO the platform. He sketched the
present situation in the Near East
scored "the impossible Turk" and de-
clared that within the last two weeks
britain, with her fleet and her Gen
harrington. again had saved the CIV
illzation OF the world"
waldon p. Rand. Jr., Vice president
Of the Common wealth Trust Company
Of Boston, read a treatise on "The
Growing Hazards and Liabilities In
the Conduct OF Safe Deposit Business"
and Francis III. Sisson. vice president
of the Guaranty Trust Company OF
New York, also made & brief address and
introduced resolution, which was
passed unanimously. expressing the
trust company mems preference Tor
New York rather than Washington as
the Bankers Associations permanent
headquarters. New York hospitality
shares preferred. never Before perhaps
have been quoted so high above par,
At the close OF the session Theodore
g. Smith. vice president OF the Central
Union Trust Company of this city, was
elected president of the division, and
Evans Woollen, president of the
Continued on Page Nine.
Theatrical and Hotel and Restaurant