[Volume XXV
THE CHICAGO BANKER
16
MEN WANTED!
We have places for a number of good, live men in the field. The proposition we are offering is very inviting to young men with “ginger.”
•J We want young men! This is a young man’s company — managed and officered by young men, and our policies are such that appeal particularly to young men seeking life insurance. Then it is the young man who looks forward to, and willing to work for, future advancement, and to such we are in a position to offer all the opportunities that an ambitious young man could desire.
There is always a position open with us for clean, honorable and reliable young and middle-aged men who are willing to sell life insurance honestly at wages that the selling of an honest proposition deserves.
Surely no policy is so easy to sell, because the people want a Square Deal — and the Pioneer Life gives it to them.
Pioneer Life Insurance Co.
Geo. L. Colburn, Pres., Pekin, 111.
YOUR ACCOUNT
will be handled in the most careful and intelligent manner. Collection facilities excellent.
THE NATIONAL CITY BANK OF CHICAGO
OFFICERS
DAVID R. FORGAN, President	L. H. GRIMME, Asst. Cashier
ALFRED L. BAKER, Vice-Pres. F. A. CRANDALL, Asst. Cashier H. E. OTTE, Cashier	W. D. DICKEY, Asst. Cashier
R. U. LANSING, Manager Bond Department
TOTAL RESOURCES OVER $10,000,000.00
roundabout course; so whenever you seek legislation calculated in fact and all sincerity, and, if you will, also in all selfishness, to make banks better, you are promptly suspected of trying to make them worse. This will be different under a good banking department.
Your committee may seem apologetic for this law, but on the whole it takes much pride in its own small part in the enactment. It. believes it to be the initial step in a substantial improvement. When, as is now certain to be the case, the faults of this act are corrected, and additional measures protecting banks in the use of their titles, and against false or misleading reports and other forms of misrepresentation, are enacted, there will be little left that law alone can add to the strength of the Ohio situation. If more is needed, we must look to ourselves and a proper public sentiment to supply it.
The Mutual Alliance Trust Company
The Mutual Alliance Trust Company, located at 66 Beaver Street, New York City, made an excellent showing under the able management of A. L. Banister, vice-president, in their recent statement. The deposits are considerably over four million dollars, surplus and undivided profits $542,649.57, and the capital $500,000. During the past year a new branch was opened at 116th Street and Lenox Avenue, and a new 8-story building erected for the Grand Street branch, at 266 Grand Street. The officers are Paul Schwarz, president; A. L. Banister, vice-president, and W. F. H. Koelsch, secretary and treasurer.
V*
R. T. Wellslager of the Central State in Des Moines has caused no end of joy among the members of the Y. W. C. A. by donating $1,000 towards the erection of the new Y. W. C. A. Building, soon to be erected there.
Alexandria Bay Convention
tion. The defective law seemed preferable, and the more particularly so, because with the state department in existence, and a vigorous superintendent in control, we might reasonably expect early correction of the faults which now appear.
In other states where banking departments have risen through wise conduct to the dignity such departments should command, the recommendations of the superintendents have had much weight with legislators. It will not be different in Ohio, unless we are unfortunate in our selection of officers. Our legislators never display undue warmth of affection for banks, but they are first, last, and all the time in favor of good banks, and when they feel assured that recommendations being made to them are unquestionably made for higher standards, they endorse them in effective fashion. It is plain enough to you as bankers, that those regulations which are necessary to insure certain safety, increase your prestige, and so your business and eventually your profits, but it is a difficult matter to convince the outsider that you are seeking benefits by such a
ORGANIZED 1810
Commercial & Farmers
National Bank of Baltimore, Md.
Federal, Slate and Municipal Depositary
Bankers are invited to open Reserve or Active Accounts on Liberal Terms. Extensive Banking Connections enable us to render effective service. Correspondence invited
James M. Easter, Pres.	Frank V. Baldwin, Cashier
Harry M. Mason, Vice-Pres. Chas. E. C. Smith, Asst. Cashier
A. E. Adams, chairman of the legislative committee, told the Ohio bankers rather plainly why the Thomas bill is'defective. He said: “Your legislative committee has but one matter of importance to report: the enactment of the general banking law, known before its passage as the Thomas bill. As will be remembered, this measure was prepared some three years ago by a special committee appointed by this organization and a special committee representing the state board of commerce.
Its enactment creates Ohio’s first banking department and revises the entire statute governing state banks and trust companies. That part of it which deals with powers and restrictions generally does not differ widely from the old law, and if on the whole it is an improvement, it is but a slight one.
The various committees through whose hands the bill passed, during its rather active career, strove to create an ideal law, but they failed. From the beginning it was evident that nothing but a compromise measure would pass, and so because the creation of a state banking department seemed of paramount importance, and quite obviously, could not be had without concessions, concessions were made. They principally related to the percentage of cash reserve, percentage of loans on one account, percentage of value loanable on real estate, and the matter of loaning on own stock. They should not have been necessary, for it has been made evident on many occasions that the bankers of Ohio in large majority stand solidly for the best of everything in banking, but your committees were called upon to deal also with the few who do not stand for the best, and in addition with some people outside of the fraternity altogether, who did not know what was best. So on the whole, there seemed to be but one alternative. We were obliged either to stand sponsor for a defective law, or to go without state inspec-