[Volume XXV
THE CHICAGO BANKER
36
MECHANICS ־ AMERICAN NATIONAL BANK
OF ST. LOUIS
CAPITAL $2,000,000	SURPLUS $2,500,000
Superior Facilities Offered to Correspondents
WALKER HILL, President	H. P. HILLIARD, Vice President	EPHRON CATLIN. Vice President	L. A. BAIT \ILL, Cashier
J. S. GALFEE, Ass’t Cashier	J. A. BERNINGHAUS, Ass't Cashier G. M. TRUMBO, Ass’t Cashier	C. L. ALLEN, Ass’t Cashier
President Lucius Teter’s Annual Address
gret to me that there are outside the membership of the American Bankers Association a large number of the substantial mutual savings banks of the East. I believe that we should immediately take some steps to the end that these be brought into the membership of the American Bankers Association and close working relation with our section. I understand that there is some objection to the membership fees established by the association in connection with these mutual savings banks. If this is the difficulty, we should see whether it cannot be remedied. But I suspect that the greater reason is that as yet these institutions have not come to see the great advantage to be derived from membership in the American Bankers Association. We should also let them understand how much they can help us by joining our ranks.
Important reports will be made to you by the chairmen of the various committees. Details of the action of our executive committee will be reported by the chairman, Mr. Creer. The secretary's report will contain a financial statement and will tell you of the growth of the section and of some of the various activities of the year. A report of the committee on uniform laws will be made by the chairman, Mr. Johnson. The question of uniform laws for state and savings banks throughout the different states is of great importance and it is very desirable that the laws of the several states shall be made as nearly uinform as possible and of such a character as amply to protect and safeguard both the despositors and the banking institutions. This is a great work and will take years to accomplish, but, as was the case with the negotiable instruments law, the thing to do is to make a start and keep everlastingly at it and definite results will be secured.
You will recall that at our last convention we continued our committee on auditing ; this committee will present to you an excellent report which I believe will prove of much use to savings bank officers. I would recommend that this committee be continued so that there may be a centre where suggestions in the way of new and improved methods may be received, acted upon and systematized.
All things considered, probably the most important committee of this year is the postal sav-
Savin^s Bank Section
else to the definite and systematic efforts which checked the possibilities of a great panic and brought us quickly to a reconstruction period.
I hold that the broader acquaintance and the confidence which we learn to have in each other
through these associations have more to do with making these conditions possible than anything else. With this thought in mind, it would seem to me advisable for us to work to the end that eventually^ the American Bankers Association and its several sections shall include as nearly as possible all of the banking institutions of the United States. Our secretary will report the splendid increase in membership in the section since our last meeting. I am very glad of this, but it still remains a matter of considerable re
Our meeting to-day is held in a city far from the centres where most of the savings banks of our country are located. This means that most of you have traveled many miles to attend this meeting, and I congratulate you as well as the section upon the effort which you have made.
There is much that is inspiring in all that we see around us. When we recall thè fact that this beautiful city of Denver was founded but fifty y'ears ago we can realize what is meant by "Western push and enthusiasm,” and while in these newer sections of our country great sums have not as yet accumulated in the dormant accounts of savings depositaries, financial institutions of the West are strong and vigorous and managed by men who are abreast of the times and eager to serve the communities in which they' live; in fact, if it were not for them much of the progress, the beauty and the grace of these western cities would be impossible.
The method of shifting our meetings each y'ear from one section of the country to another makes it possible for us to know each community better and gives further evidence of the unity of our country and the unity of purpose in the American Bankers Association, and I find in this unity of thought and purpose on the part of our American bankers a promise of strength and co-operation for the future that means more for the stability of American financial institutions than could possibly be secured by any of the devices urged by political adventurers.
The year that has passed since our last convention is one that we will all remember for a long time. The financial crisis of 1907 appeared shortly after our meeting at Atlantic City׳, and the officers of your section, as well as the members of the various committees, were kept busy attending to financial conditions at home, so it is that with little exception the activities of your officers have extended over only about one-half the year.
While this may have been to a certain extent an off year in association activity, I am glad that it has been a year in which the great advantage of bankers’ associations has been demonstrated. It must appeal to the most casual observer that the splendid co-operation of the bankers throughout the country contributed more than anything