ho said that
the "chief duty of trustees was to commit judicious breaches of trust,"
it has imitated the stern integrity of that bank cashier who upon a warm
day sat down on the neighborly side of a sheet of postage stamps, and
had to go home and make a change of clothing before he could get his
books to balance. [Laughter.] And, taking warning from the slogan of the
Bryanized Democracy, which caused a quotation from a message of one of
our modern statesmen that "a public office is a public trust," to be met
with the cry "Down with the trusts," our treasurer carefully avoids
handling United States nickels, for they bear the motto "In God We
Trust," and the Society might be met with the same attack and come into
disrepute on that account. [Laughter.]

In these days, when the Populist, fusionist, and demagogue is
endeavoring, like Mrs. Partington, to sweep back the ocean tide of
prosperity with a broom, clogging the wheels of industry and seeking by
legislative enactment to reverse the laws of nature and of political
economy, which are immutable by Divine decree, we can commend to them
the answer of an examiner of a young man who applied for admission to
the bar. He failed utterly in questions upon contracts, partnership,
corporation law, commercial paper and real estate, and was told so.
"Well," he said, "won't you try me on the statutes? I am pretty strong
on them." "Well, what's the use," the examiner replied, "when some d--n
fool Legislature may repeal all you know." [Laughter and applause.]

Forty-seven members have died during the year. The list is entirely made
up of men distinguished in all the pursuits of life--who wrote their
names in bright characters upon the history of the City and State, and
whose memory will always remain as a precious legacy and an example to
those who succeed them. Fourteen had passed the Psalmist's limit of
life, and nine had passed their eightieth year. In it are enrolled the
names of William H. Appleton, the honored head of the great publishing
firm known wherever the English language is spoken, to whose reputation
he contributed so much by his clear intelligence, breadth of views and
spotless character.

Isaac H. Bailey, for several years the President of this Society, an
honorable merchant and a trusted public officer.

William Dowd, the treasurer of the Society for fifteen years;
distinguished in finance and the management of large corporate
interests, and endeared to a host of