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We take you now to the city hall. PRESS. Corps or press corps arrest. PRESS. Corps or press. Corps rare. Crap or are. Poor. Prayers poor. Poor. PRESS. Edibles and the pilot sorry Mary of the city of New York is receiving the office of the American Bankers Association and the chief executive officers of the member banks of the New York clearinghouse Association and the Board of Estimate room at City Hall and now Mr Whalen it's a great buy here not for me to present to you know the office and a Committee of the Macin bank and association ally here in the city of New York to attend the diamond and a vast array of the organization of the American Bankers Association. May I say to you Saad it has been a privilege for them as many representatives to work with the committee charged with the response though they preparing the plan Ah. Perception drawn thousands of banking and their families who are presently in the city and in this connection I'd like to pay particular. Tribute to misstep IP as in the case banking with LAX OK let's. Face plain the decisive is important duty. Is to marry. I give you the prize in all the American Bankers Association who will respond to your creating But Mr Abbott I back in to present to you first. There. This is the first this is the seventy fifth anniversary of the American Bankers Association but the first time in twenty eight years that the New York bankers have entertained our friends might the country having been entertained in Los Angeles and Atlanta Seattle Chicago St Louis. Atlantic City and various spots all over the country we finally remembered our manners and thought that it might be a nice idea for The New York very hostile reciprocate some of the favors that the been extended to us for the last twenty eight years well I might say that. You're familiar with the housing with the halls and the number of halls in the city and the number of people that can be housed in those various meeting places and I think for the next three days they will all be full of out of town guests and that is under strict orders that all the New York bankers and their wives all stay home so that we can entertain our guests but I want to say to you sir that we are in the New York clearinghouse knew that we were amateurs when it came to entertaining something under seven thousand people. So we immediately went to Mr Grover Whalen who has had some experiences you know in this kind of business. And I can say without any person flyers in all honesty that without Grover's help I mean the Honorable Mr Whalen I've learned to call them grow over the last year. We and through his help with the police department the board of transportation. The various departments I can't name them all but I want to thank them all but we have had the most of most helpful cooperation in the task which was before us and I want to thank you sir for that because it's been beautifully done and we're most most appreciative. It's my pleasure to present present the gentleman on your right to the president of the Association Mr Peterson president American back Association. Mr Chairman Mr Abbott Mr Mann. Ladies and gentlemen. It is indeed a privilege. For the bankers of America to meet in your setting. We have a registration I judge there somewhere but there are seven thousand and seventy five hundred out of town members who are enjoying your wonderful set A and who are very grateful to you Mr Mayor for they treatment they have been accorded in the yard I know they are very appreciative of the action taken by your reception committee by. The Kearney's treatment of your police and fire department and others in the city of New York they have been very very helpful. Also I know speaking from out of town bankers were very appreciative of the work done by the members of the New York clearinghouse of bankers they have made our stay here very enjoyable and I know over the next few days we are all going to have a fine time in your wonder steady seeing all of the sights and the views as well as a constructive convention I think you know Mr Mayor this is our seventy fifth anniversary. Of the American founding the American Bankers Association. And we are one of the among the few artists ations that have existed or trade organizations that existed down through the years I know that to most bankers. New York is not unknown steady I think you have possibly some three billion in bonds outstanding which I think are well this trip did throughout the United States and we bankers are quite familiar with the credit they said A However sometimes we have a hard time understanding the statement as public. But nevertheless again I want to stress it is certainly a privilege to be end of the art and we are enjoying our south very much enjoying all the facilities that your town provides and again I want to thank you Mr Mayor for your kindness and for your reception and also the bankers for their kindness and treatment of us thank you. Joe. And don their Impala Terry. Joe. The well known operators I'm members of the American Bankers Association. Those of us who control the government of the city of New York. And this has stark rune. Do transact a lot of this. This is so that you'll understand that this is the room where they thought of direct of the government of the city of New York actually function the directorship of a. Government of the city of New York is not much different from the broad of directors in one of Europe's banks and this is where they the only difference is this that your meetings are held in the executive session we have that too but the executive session chambers over the other side of the hall that's where we meet with our advisors where the commission has and go over the various problems of the city of New York and protectively the problems that affect the pocketbook of the city of New York however there's just a little different twist when we come out here you see every item that we pass the final as numbered the items clearly indicates exactly what we think to do and it also indicates the amount of money that will be quite required and after we get through when our executive session and long before all that that Kalam there are a sprint. And that printed calendar is available to the public free of charge and every time the board of estimates meets the board of directors of the for the in the arts. Every one of these items have to be called one after the other and then for each item there must be a low cost in public but in addition to that. Any taxpayer the city of me ought has a right to come into this chamber and. And that right is a caught up to him under the law all and we're glad to give it don't and then they have a right to get that right behind lap rail and they're brought to direct is just how they feel about an item and sometimes how they feel about the broad itself. But I just want to give you that little insight as to how the government of the city of New York operates or steely mayor said when the metal. To his right that's the president of the council who is left that's the comptroller and they have three votes the piece on the Board of Estimate because there are what we call city wide officials they're all like that by the people of all the five counties within the city of New York and then comes the but our president I'm happy. With who votes by our president of the Bronx with one vote for president on the Richmond one vote then right next to the controller on his left comes the far President of cain with two votes by a president of Queens with one called Help me see the scheme of it is to get the free setting wide officials a majority vote in the bottom asked a combined have a total of nine votes total of nine out of seventeen the bar prize nine out of sixteen thanks for the correction at the moment nine out of six think the final question of the fibro president have seven votes distributed among the five of them and really the basic reasoning for that is that you can probably understand it is that the three city wide officials have the they needs in the welfare of the entire city as hot and the fire president still. But you can well understand that the borough presidents being elected from their respective counties have their primary interests in promoting the needs of that particular bar and that's understandable so that if you have thirty million dollars or forty in mind and dollars to spend in schools for one year that should be distributed among the five boroughs within the city you can well understand that above president would want that whole forty million the go to his particular bar so that the three study wide members are able to look at it just a little with a little degree of impossibly alibi to say the past twenty million dollars will be distributed and fair reasonable popular among all five counties. That's just a little aside I thought you might be interested in knowing that but that they were glad to welcome you here to the city of New York and particularly the City Hall because you are probably the most historic chamber in the most historic building in the entire city and so that you might know just a little about that and it's interesting this building goes back to eight hundred five. And. If you'll notice this building as you go out the front proud of it it's considered a very good piece of colonial architecture the reply lot of it is considered an architectural monstrosity. And that's due to the fact believe it or not that when that building was built the. Manhattan Island City Hall and to study hall North was a dense farce what a lot of indie. And the planners as of that time thought that the oxygen would never go farther in all that in this building and that accounts for the rear end of this belt how to have any fuel bankers had been in bed with that time and had taken a few options on some of these bomb lands and parts that were directly the lot of study hall you would not have to worry about the end bankers and I would not have to worry about than man. As the. Representative of the people of the city of New York I have a cause happy to greet the your offices and members is on the occasion of your diamond anniversary convention here and I say that we think that New York City is the best convention setting in the world and that includes Los Angeles. And for that and so there I am that here in the city of New York we have set up as part of the city government. Full time Convention Bureau and they're doing a swell job. Time and time again we have sought people from other cities to come to our studies and to avail themselves of Dr syllabi I'm very happy that that fault your president and your retiring president have given warm words of praise to Mr Whalen and to his commenting they always do a splendid job. Mr Whalen has had a great amount of experience and doing exactly this kind of job and I want to publicly command him I'm his stamp for saying into it that your convention in the city of New York will be not only fruitful but in addition to that these things that you've already talked about will continue on during your entire stay in our city we want up that way we want to make you happy here we know that when the job is done properly and you go back home to your respective cities go back to your people and cited them New Yorkers a well run said they did a splendid job Farsad. They facilities of the city of New York are excellent I think we should hold on next come vention that. And. That's what we would like and we're going to give you that kind of treatment so that when you go back you will want to come back here again because believe it or not that's happened time and time again Grover You'll recall that just recently we had a very large convention here and I don't think I have to give names and dates but it was really a very very large convention they were here two years ago and they kind of like the job we did the first time the fat particular convention had come to the city of New York the following year they voted the gold to Washington and they went to Washington that Ben among the other cities before that but within the short space of two years. After the hiatus of one year they don't limit mostly those sizes they come back to the city of New York they did come back and I wouldn't be surprised if they come back again next year. Thanks very much for it selecting New York City as your convention city. I would like to talk to us land about bombings. And all that sort of business but you know more about that than I do. If I had the comptroller here of perhaps he could tell you just a little more I'm acquainted with it but I don't want to step myself up as an expert I am that the People's Choice. Thanks very much for coming here I know that you're going to be happening and I know that for over a while him and his committee will continue to do the kind of job to say is all right thank you. Lou. And this man on behalf of your committee Ike knowledge with grateful appreciation you are kind words but I want to. Assure you that it could not be done or anything that we ever attempt to do and then as reception committee could not be accomplished without the full and complete authority and cooperation of the nay. This is the powerhouse of the city of New York. It looks like a small little place but it is a terrific power and presence it is the capital city of the world so that added to the vast responsibilities that come to them there on the charter he has the additional responsibility of being the mayor of the capital city of the world and if you read the papers on Friday you discover some of his problems. Are not of his own making either but I was committed nevertheless they were problems and I want to thank you publicly American politics on the generous generosity and your support which you have given the committee and I'm sure that you will want to meet the individual gentleman who I hear a lot all things in their own life. Although I also have bathrooms too and vast responsibility only if and only one field in the continuance of good government that's right and you have wandered into a department that you are responsible for without saying anything about the agencies and other instruments of government if you have to preside over and this particular function you and I have always felt selling the art is an important duty of the man. And I want to compliment you want your salesman to get down fighting the American banking convention to be here next year I'm sure they'll carry out your honors when they get up to the next meeting. Mr Abbott will you please introduce the gentleman that the come to you when they come up here and meet the mayor plays with a little music where. You met Mr Peters is blaming herself yellow been in solitary merit the city of New York is receiving personal introductions to the various bankers who form of the convention members here of the Diamond Jubilee visit of the office of the American Bankers Association and the chief executive officers of the members of the bank of the New York City clearinghouse Association this meeting is taking place in the beautiful colonial and historic Board of Estimate room in city hall and Marion Pelletier is now performing the function a matter of the city of New York in greeting these men on this hallowed spot where the great government of the city has established its tradition as one of the greatest government one of the most responsible government anywhere in the world and as Mr Whalen says with the added burden we might say as well as honor of being the capital city of the world than of a grower A Well Mr Chairman of the mayor's committee a reception to day Mr President ever chairman of the Executive Committee of the A.B.A. American Bankers Association and president of the trades National Bank introduce Mr everyman Peterson president of the American Bankers Association the South Asian. Get a promise on occasions and Maestro celebrate conducting foreigners with musical program before the broadcast and during the reception by American politics that is all from the Board of Estimate round this is I'm Elizabeth Broadcasting System.