[Volume XXVII
THE CHICAGO BANKER
24
H. M. BYLLESBY & COMPANY
ENGINEERS
MANAGERS
DESIGN CONSTRUCT OPERATE
NATURAL GAS SYSTEMS INTERURBAN RAILWAYS WATER POWER PLANTS TRANSMISSION SYSTEMS DRAINAGE SYSTEMS
ARTIFICIAL GAS SYSTEMS STREET RAILWAYS WATER WORKS ELECTRIC LIGHT PLANTS IRRIGATION SYSTEMS
EXAMINATIONS AND REPORTS
CHICAGO
The Audit Company of Illinois
1439-42 First National Bank Building, Chicago
Specialists iia Auditisa^ and Sy§tesffi° Public Service Cogpogatioims
C. W. KNISELY, C. P. A.
President—Manager REFERENCES:
Leading Bond Houses dealing in Gas, Electric and Railway Securities
growth in importance and power of your association, numerically and financially since first you met in Chicago, twenty-four years ago, and again in 1893; and in contrasting the modest beginnings of those days with your present membership of over ten thousand, including banks whose aggregate resources are over fourteen billion dollars. I might call attention to the growth in population, wealth and banking power of Chicago, which has been no less remarkable. Within fifteen years the deposits of the associated banks of this city have increased nearly five fold, growing from $172,-000,000 to about $8x0,000,000. This is an impressive, almost a startling, fact. Much that is interesting and significant might be said about it, but I fear it would be an encroachment upon your time and upon that of the distinguished speakers who are to follow. Chicago will continue to grow, not only in mere numbers of individuals who dwell here, but in business importance and in financial power. This is inevitable because of its geographical position in the heart of this great empire; because of the unequalled net work of railways, the veins and arteries of trade, which flow inward and outward; and more than all, because its famous hinterland is rich and productive and populous. In this respect no city in the world has ever been more advantageously situated. These things make Chicago the City of Destiny, the splendor and glory of whose future it is vain to prophesy.
I might also with pardonable pride call attention to the excellent example which Chicago in recent years has been giving to other cities and to the world in improved methods for the examination and regulation of her associated banks—an example which I am glad to say has been followed by a number of progressive cities. It is sufficient to say that this great industrial and distributing center is justly proud of its excellent banks, and feels fortunate as well as safe in the possession of a number of them which rank among the strongest and best managed in this country.
There is just one central thought which I wish to impress upon you, and it is neither about Chicago nor her banks. It is this:	The most im-
portant work to which this association can presently devote itself lies in influencing and in shaping state and national legislation along the lines of sound economic laws; I mean those which
The President of the Chicago Clearin¿ House welcomes the ¿uests of the city, and Col. Robert J. Lowry, of Atlanta, makes an eloquent response
JOSEPH T. TALBERT Chicago
intend to show them that here is the near and natural market for their raw products and here the place for the purchase of merchandise and for the establishment of new banking connections. It is unnecessary to say that we welcome our friends and neighbors from the West and Northwest and all the way from the Pacific Coast, for they know us—indeed they are a part of us. They know that Chicago is great, industrially and financially, and they also know that it is due to the fact that they themselves are great, and growing in greatness, and that the strength and prosperity of this city is but a. reflection of their own happy condition. Therefore, I am upon safe ground when I extend to visitors from every section a. thrice cordial welcome.
I might make a lengthy speech reviewing the
It is a pleasure and a privilege to be called upon to extend in behalf of the banks and bankers of Chicago an official welcome to the members of the American Bankers Association on the occasion of this, their third convention in our city. Occupying as you do a position unique in American finance and representing as you do not only the small and remote banks, but also_ the great and strong among our financial institutions, this privilege becomes an honor.
It is easy to say that you are welcome and that we are glad to have you with us; but we intend to try not only to make you feel at home but to give evidence of the fact that you are genuinely welcome. In carrying out this purpose we have not sought to make a display of entertainment, nor to prepare a tedious program, consuming every moment of time, through which each visitor must be forced, whether or no; but there has been left opportunity for all to visit their friends and correspondents or to go sightseeing and to the places of amusement for which cards are supplied, or to do anything else which individual fancy prompts. We have thought that true hospitality lies in making a guest feel first of all that he is welcome, and then, after providing the things necessary for his comfort and physical well being, to place him at ease by allowing reasonable freedom to indulge personal inclination. It is hoped that this will sufficiently account for all gaps or omissions there may appear to be in the official program. If there be any among you who has not found suitable and comfortable quarters, every effort will be made to procure them and to make them satisfactory on application to any person you see wearing a reception committee badge, or at the information bureau at headquarters. It is our earnest wish that every guest be made to enjoy the visit here and no effort on our part shall be spared to accomplish that end.
We are particularly glad to entertain our visitors from the East, for we want them to know more about this young Queen of Western Cities. We wish to show them the things which have made her a Queen, and which in time shall enthrone her as the “Empress of Them All.” We are delighted to have with us our guests from the South and Southwest, for we wish to become acquainted with them, to have them know that we are neighborly and friendly disposed, and that we are not"half so bad as we have been painted. We