Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-18
Coolidge Greetings
jn18d1t
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PdQ0 On6J
occasion will be promotive of the ex.
| cellent work that these institutions
are carrying forward"
The conference began this morn.
ing with meeting of the Council
of Administration, where report.
were submitted. showing that 1872;
is likely to be a record year for al
time in the increase of savings de-
posits, and depositors. The bankers
| assembled here represent about
seven million dollars of deposits and
100000 depositors. the greatest
accumulation of small capital ever
got together in the world by sc
large number of depositors.
President James NJ. WILCOX
head of the Philadelphia Fund So.
ciety, presided at the opening ses-
sion when Governor Ralph O.
Brewster extended the welcome OF
the State to the Bankers, who came
from all parts of the country, some
as far away as Washington and Cali
fornia.
The conference then began discus
sion of public utilities securities as
a desirably investment for the saw
ings depositors of the Nation. 1t
was pointed out that the growth OF
public utility companies all over the
United States had placed them on a
basis with the railroads. Some OF
the bankers inclined to the opinion
that utility investments had reached
a point where they might be con-
sidered fully as secure as railroad
investments.
The public utilities committee
made a report in which the draft
of a bill was included that would
permit extension of savings banks
investments in this class Of secur-
tiles.
The committee on the 10000, OOO
savers army" reported that chill
dren all over the country were now
learning to save their money as a
part of the regular school work, en-
couraged by the association of saw
ings bankers. 1t was shown that in
many cities children had accumulat-
ed considerable funds during the
last school term. This work is car
ried out by the children themselves
through the medium of miniature
banks established in the schools
where the pupils act as tellers.
This force Is being rapidly re-
cruited and already about half that
number have enrolled, it was report
ed.
Governor Ralph o. Brewster in
an address of welcome to the dele
gates at the conference of the Ma
tional Association Mutual Savings
Banks, today, said that hospitality
represents the Towering of civiliza-
ton of any land.
Maine counts it a privilege" he
said, ito entertain you with it's re-
irrational delights. With your keen
interest in investments and in pro-
duction of every kind we shall hope
that you will have opportunity be-
fore your departure to see not only
our natural beauties but something
of our Industrial and agricultural
achievements as well.
I'VE trust you will carry away
with you the impression that invest
ments in Maine real estate and
Maine Industries are fundamentally
sound. They are based upon the
granite qualities of our New Eng
land character nurtured among its
hills.
You recognize with perhaps a
clearer vision than almost any other
group the basic necessity of thrift
to a nation if its invested and pro-
ductive capital Is to continue to
grow. In that thrift New England
claims prominence and does not
hang Its head in shame"