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01 the State Bankers' Association. IMPORTANT FINANCIAL QUESTIONS UNDER DISCUSSION. Interior Bankers Desire a Modification of the Rule Relating to the System of Overdrafts-Programme Which will Occupy the Delegates' Attention To-Day. Special to the RECORD-UNION, SAN FRANCISCO, Feb. 22.-The annual convention of the State Bankers' Association was held in the Chamber of Commerce rooms to-day. In the absence of Mayor Ellert, Lovell White of the San Francisco Savings Union delivered the address of welcome. President Hellman of the Nevada with an address with the recent financial and largely followed which Bank crisis dealt tight-money period that followed it. "We can be proud of how well our banks have weathered the storm," said he, "Our banks have stood better than owing to the those wonderful elsewhere, largely resources of the State. "The crisis affected us here in California in a peculiar way, because we are SO far off from financial centers. Ordinarily bankers' balances in New York or Chicago could easily be transferred here, but by reason of the great scarcity of the circulating medium in the Eastern centers WE were even refused by our corresponding banks in New York funds transmitted to other our own us. to have Angreat hardship for California was that the Treasury Department, which had previously made transfers of money from New York to San Francisco by telegraph, had during the hight of the panic even refused to do that. "It was said that of four banks that have closed their doors permanently two should have done SO anyway, and would have done SO ultimately without the aid of the panic. Now that financial matters are easier, Mr. Hellman urged the importance of banks lending their aid to manufacturing and other enterprises. He of permitting said the practice also overdrafts, condemned and a law should be enacted that would prohibit a savings bank receiving more than $10,000 from any one s well as "Commercial a Mr. savings depositor. banks, said Hellman, "are again feeling the favorable effect of a change, and are on increase, in eyed centers. the especially deposits monI do not ascribe it entirely to the increase of trade, but of stockings and the boxes from the emptying of safe-deposit partly coinlodged depleting to the therein during the panic." The Treasurer of the association, George W. Kline of the First National Bank of this city, and Secretary R. M. Welch of the San Francisco Savings Union presented reports giving the dry-bones of details of the work of 1893, Receipts footed up $2,859, and expenses left cash balance of $920. There are now 175 banks in the association out of 200 in the State. Four banks were dropped year non-payment of dues. went into banks for liquidation-the during City Six the Bank, Los Angeles; Bank of Anaheim: Pacific Bank, San Francisco: Consolidated National Bank, San Diego; Bank of Bank of were named Committees Oceanside; Madera. R. Nominations- Hamilton, as follows: Sacramento; C. W. Bush, Woodland; P. E. Bowles, Oakland; L. W. Burris, Santa Rosa; T. P. Lukens, Pasadena. Resolutions-Fran Miller,Sacramento: H. W. Wright. San Jose; H. H. Hewlett, Stockton; H. C.S. Brooks, Marysville; A. R. Schmidt, San Francisco. Auditing-W E. Gerber, Sacramento; J. Modesto. M. Elliott, Los Angeles; O. McHenry, W. E. Gerber of Sacramento called to a of interior and a tention have a conference desire hearing bankers to with the atmanagement of the San Francisco Clearing-house. A modification of the rule, recently enacted by the Clearing-house, abolishing the system of overdrafts, is desired on the ground that the stringent enforcement of details is unjust to interior banks. Mr. Hellman, presiding, said he would any relative to the Clearing-house decline instructed to make suggestion matter to un- the less so by the convention. He thought the overdraft abolition action should be final, This opinion excited Railroad Commissioner Beckman, who is bank, and he moved Sacramento convention President that of the a request the hearing that Mr. Gerber asked for. The motion was carried unanimously, The convention will reassemble tomorrow at M. Among the papers on the programme to following: be read before the convention are the "Unsecured Loans-Time Versus Demand," Frank Miller of Sacramento, "Savings Banks and Their Dividends Angeles. to Depositors," J.B. Lankershim of Los "Savings Banks-Their Mission and Duties," Lovell White of San Francisco, Changes "Suggestions in the State Concerning Certain M. Elliott of Los Angeles. Banking Laws," A Plea for a Rational Currency System," E. S. Sheffield of Santa Barbara. "How to Preserve the National Banking System," Henry Brunner of San Luis Obispo. J. "A Talk on the Financial Situation," Marble of Los Lessons of Benjamin C. "The M. Wright Bank Angeles. 1893," of San Francisco. "The Relations That Should Exist ] Between City and Country Banks," C. W. Bush of Woodland. MORTON'S POSITION
