11
THE CHICAGO BANKER
August iS, 19081
The Girard National Bank
Of Philadelphia
Capital,	$ 2,000,000.00
Surplus and Profits,	3,650,000.00
Deposits,		28,500,000.00
FRANCIS B. REEVES, RICHARD L. AUSTIN Vice-President	President JOSEPH WAYNE, Jr. Cashier
THEO. E. WIEDERSHEIM Second Vice-President	CHARLES M.ASHTON Asst. Cashier
Accounts of Merchants, Individuals, Banks, and Bankers Received on Favorable Terms
FOURTH STREET NATIONAL BANK
OF PHILADELPHIA, PA.
Capital $3,000,000.00 ־ Surplus and Profits 5,900,000.00 ־
UNEXCELLED COLLECTION FACILITIES CORRESPONDENCE INVITED
R. H. RUSHTON, President	E. F. SHANBACKER, 1st Vice-President
B. M. FAIRES, 2nd Vice-President
R. J. CLARK, Cashier	W. A. BULKLEY, Assistant Cashier
FRANK G. ROGERS, Manager Foreign Exchange Department
According to the report, which was compiled by Record Clerk William Gamble, there were 805 permits issued for 1,298 operations, estimated to cost $2,912,480, last month, compared with 880 permits for 1,653 operations, estimated to cost $3,784,150, in July, 1907. Although June is a much better building month than July, the report for that month only showed 787 permits taken out for 1,286 operations, estimated to cost $3,017,045.
State Funds
Financial institutions of Philadelphia hold on deposit state funds to the amount of $2,-588,858, of which $936,628 is with the Farmers and Mechanics’ National Bank, as fiscal agent for the commonwealth.
Bonds to be Offered September 1st
Philadelphia will offer for sale to the highest bidder $10,000,000 thirty-year 4 per cent bonds on September 1st next. The proceeds of the loan are to be devoted to various municipal purposes, including new school sites, buildings, bridges and sewers.
Disposes of Two-thirds of the Issue
E. B. Smith & Company and Redmond & Co. of this city, who purchased $300,000 of Reading filtration bonds at a premium of $3,-293, have already disposed of two-thirds of the
The Liberty Bank
'i’he Liberty Bank at Liberty, Miss., is now located in its modern and convenient new building. This bank was established six years ago with $25,000 capital and during this time has accumulated a surplus of $7,000. The officers are: W. M. White, president; S. B. Robinson, vice-president, and W. H. Jackson,
The Farmers and Merchants State Bank of Wakefield, Kan., was recently organized with a capital of $10,000. W. P. K. Gates, former county treasurer of Clay County, . will be cashier.
yachting trip with some friends along the New England coast.
The Weekly Statement
The weekly statement of City Treasurer Bringhurst shows a cash balance of $13,914,-095 at the close of business on Wednesday. The balance in the active account at the Franklin National was $300,998.
Young Penalizes Trust Companies
More than fifty trust companies throughout the state have been penalized by Auditor General Young for failing to make a report by June 20th.
This is the first enforcement of the act of 1907, which provides that where companies fail to report to the auditor general he shall compute the amount of their tax as best he can and add 50 per cent as punishment.
Banks Bid for State Funds
Much interest is felt in the selection of an active state depository in place of the wrecked Allegheny National of Pittsburgh. Another Pittsburgh bank will be chosen by the board of revenue commissioners next Tuesday, so that the quota of two each in Pittsburgh, Harrisburg and this city will be filled.
There is considerable rivalry for these selections, as the active depositaries carry large state deposits, seldom less than $500,000 each. Building in Philadelphia
Despite adverse financial conditions, the total estimated cost of building begun in this city during June was only $871,670 less than the amount started in the same month last year. This was learned when the monthly report of the Bureau of Building Inspection was issued.
I I WANTED IZZI
A young man with ten years’ experience in all kinds of banking wants position as Assistant Cashier or Teller. Party is a winner with the people and a business getter in every sense. Would especially like a place with a large institution where he could meet the people and solicit business for the bank. Large town preferred.
Address “ ASSIST ANT CASHIER,” Care of Chicago Banker
Edward T. Stotesbury, of Drexel & Co., the well known banker of this city, arrived home last week after an extended tour of Europe. Mr. Stotesbury sailed from Cherbourg on the White Star Liner Adriatic last Wednesday.
When asked for his views on the political situation, Mr. Stotesbury said he was pleased with the nomination of Mr. Taft for President. Mr. Stotesbury said that he has not yet been asked to receive the Republican campaign contributions for the Pennsylvania district.
The Bank of North America
The Bank of North America of this city, is rearranging its office interior to get more room. Other big banks which have recently found need for larger space are the Philadelphia, Central, Merchants’ and Fourth Street National Banks.
Affairs of Bank to be Closed
On Saturday the last chapter of the history of the Consolidation National of this city will be written. On that day the Union National will pay all shareholders of the Consolidation $40 per share for their holdings, the price originally agreed upon when the Union National absorbed the property. The payment requires $400,000.
What Becomes of the Coins
The Philadelphia mint in the last fiscal year made 137,133,777 separate pieces of money. These coins were worth $126,755,848. Now it happens that this same mint has been converting gold and silver bullion or metal alloys into coins for many years and several other mints in the country have also been working steadily.
If the nation’s population increased 1.000,000 in the last year the Philadelphia mint made for each person 137 coins. Who has that money in his possession? More than 81.000,-000 pieces of the new money were pennies, so that every citizen of the United States got a new cent since last June.—Philadelphia Press. .1. R. McAllister Back from Trip
J. R. McAllister, president of the Franklin National of this city, lias returned from a