The CHICAGO BANKER
A Weekly Paper Devoted to the Banking and Financial Interests of the Middle West
10 CENTS A COPY
Entered as Second-Class Matter January 15, 1903, at the Post Office at Chicago, Illinois, under Act of March 3, 1879
SEPTEMBER 18, 1909
The Convention
Chicago was the magnet which drew nearly one half the membership of the American Bankers Association to break all records for attendance at its 35th annual convention. Central location, adequate facilities, the known hospitality of her bankers, a roster of popular officers and an efficient organization all contributed their share. The organization has grown greatly in recent years and is a power in the republic. Favoring opinion from the A. B. A. makes it a winning cause. Her spokesmen are heard with the knowledge that the good of the whole country was considered before the decision to speak was made. No calling save banking is so interwoven with the commercial, industrial and every-day business of the country. They live in and for each other. No calling so nearly banishes sentiment in its forecast of conditions, hence none other is so effective, because none other is so true.
Much of the lighter side of the great convention has been kept for another issue. The program has been such a task upon space, owing to the high character of the addresses, that the many, enjoyable, social features are withheld for the present.
Mr. Reynolds after a faultless administration has been succeeded by Mr. Pierson who will make all the credit marks possible to intelligent, tactful, tireless official service.
Much of the success of the A. B. A. comes from the loyal co-operation of the sections, the officers being now practically consolidated at II Pine Street. Col. Farnsworth has earned the praises bestowed upon his conduct of the secretaryship—chief executive of the association. Not a little stimulation will be given by Mr. Livingstone, to the work of the council and the committees. He is an ideal future custodian of the gavel.
The Chicago bankers who worked night and day in preparation for the convention, and many of whom scarcely slept during the week it has been in session, must get their returns in the general verdict that nothing so good has been done before. It has been the greatest bankers convention from every point of view ever held.
Officers Elected
The “Big Five” in the above group was posed by the staff photographer of the Chicago Record Herald and easily is the best done at the big convention. These men largely have been instru mental in bringing the monster organization to its present state of perfection and effectiveness.
C. G. Hutcheson
C. G. Hutcheson, cashier of the First National of Kansas City, said:
“The West is seeing one of the best years in her history. Crops are good and when grain yields are large prosperity follows as a natural sequence. There is nothing to disturb conditions. The farmer is satisfied. He has money in the bank as a rule. He is selling his crop at good figures. The farmer is the foundation stone. When he is prosperous every one is prosperous and that is the condition as it exists in the West, particularly in the sections adjacent to Kansas City, to-day.”
Henry C. Brewster
President H. C. Brewster of the Traders, Rochester, N. Y., said that confidence in the banks of the country is growing steadily, a fact, he declared, which was evidenced by the steady increase in the amount of deposits. He said that he regarded the law which created the new tariff commission as a good thing and that under its operation the people of the United States would “get all that was coming to them.” He said that Senator Aldrich had told him that the monetary commission now in Europe gathering facts for its report to congress would give the people “the best thing they ever had in their lives.”
The American Bankers Association, on Friday advanced Vice-President Lewis E. Pierson of New York, to the presidency; Chairman of Council F. M. Watts, Nashville, to the vicepresidency and promoted Wm. Livingstone of Detroit, from the ranks to the head of the executive council.
H. P. McIntosh, Cleveland, was elected president of the trust company section, and Oliver C. Fuller, Milwaukee, was made vice-president. Philip S. Babcock was re-elected secretary.
Wm. R. Creer, of Cleveland, went to the head of the savings bank section, and Edward L. Robinson became first vice-president. Wm. Han-hart was re-elected secretary.
Sol Wexler of New Orleans, was elected president of the clearing house section, and E. R. Fancher, of Cleveland, was made vice-president. Fred E. Farnsworth is the secretary.