August 22, 1Ç08]	THE CHICAGO BANKER
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'HE friends of C. Q. Chandler, candidate for chairman of the council at Denver, see some advantage to their candidate in the defeat of Don S. Culver, for the vice-presidency of his own state organization at Duluth. They believe Minnesota cannot push him very hard for a place in the A. B. A. roster when it denied him at home.
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housekeeper under forty,” stating that he had no children and was a bank president by occupation. I he S. R. O. sign is out in all the hotel lobbies in Ware and the widower has fled to the woods to escape the “replies” which came in droves.
HIS only goes to show that if you offer that which is wanted in a proper medium there will be “returns” in proportion.
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years no depositor in any New York trust company has ever lost a dollar through suspension or failure.
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“A Recipe for Success" and applies to business, and not to boat racing, (Hey, Pollard?) some of the chapter titles being “How to Get Ahead,” “Do You Need Money?” “How to enjoy your vacation”—by C. B. M., etc. It is one of the best of its kind and bankers wishing to interest home people in a savings account will do well to study it. W. W. Cook will send a copy for the asking.
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which he absorbed from William Livingstone on the Michigan boat ride. Call in and hear it.
ing a new banking law for consideration at the coming session of the legislature. The inability of the state authorities to intervene in the matter of the recent failure of the Bank of Austin, because the bank was a private banking institution, has called to notice again the total futility of Nevada banking statutes.
A RTHUR REYNOLDS was in Chicago this week furthering plans for the new, one-story, monumental building for the Des Moines National. It is to set a new mark for Iowa.
Cashier.
WHEN last heard from, Senator Aldrich and his monetary commission were headed for Carlsbad and the junket will last until after election.
T B. KORNDORFER, who has been chief *J • clerk of the Irving National Exchange, New York City, for some years, has accepted the cashiership of the new Peoples National of Brooklyn.
ELECTIONS in the Minnesota Bankers Association are not run by a clique, but are open and not the result of a star chamber nominating committee. Prince only defeated Culver for the vice-presidency by four votes and Latta only had three more than Havill for A. B. A. council. In Illinois it is different.
George m. Reynolds attended the stag
dinner which Ambassador Reid gave at Dorchester House, London, to the American Monetary Commission.
THE fact that Cashier William Montgomery־ has been in jail for three months, and that Receiver Lyon has been granted an order to sell building and fixtures for the benefit of depositors, has not operated to remove the name of the Allegheny National, of Pittsburgh, from the “Roll of Honor” published by a New York banking paper last week.
"V OU remember Richcreek, the Indiana _■» banker, who sought to enjoin the state from inspecting his bank under the new banking law? He’s in Johannesburg, South Africa, now. The depositors are short $300,000. Something wrong when they fight inspection.
ITALIAN private bankers of New York have I formed an organization and incorporated under the laws of the state, to be known as “The Associated Bankers of the State of New York.” Anything rather than incorporate the banks with dreaded inspection by the bank examiner.
׳THE Knickerbocker Trust Company of New * York on August 20th paid to depositors the fourth and fifth installments, which under the terms of agreement at the time of the reopening, would not have been due for several weeks.
¥ ATEST returns indicate that the Down and Out club will start at Denver with quite a boom. Afterwards there will be a program provided a la Gridiron Club. The ex-council-men are to have a second term on earth.
KN. & K. BRUNDAGE, who travels • out of New York, has more banker friends, perhaps, than any man of his age in the country. He has been to twenty״ state conventions since he last saw Broadway״ and says that the one paper which he saw on every bankers’ desk is the one you now are reading. This is one journal which does not have a waste basket circulation.
WARNING to members M. B. A. Don't accept a plausible story as conclusive evidence of a stranger’s honesty in presenting a check or other instrument for acceptance. Frequently the most plausible stories are offered by the smoothest and most dangerous criminals.
Use every precaution at all times against possibilities of fraud, and especially in dealing with strangers.
W. F. Keyser, Secretary.
TWO new $200 rewards have been posted by the Missouri Bankers Association. This is the way it works when there is a competent paid secretary on the job. If the A. B. A. could copy the Missouri plan they would see criminals locked up rather than posing as heroes in the skillfully״ prepared Pinkerton reports.
EO. ELDREDGE, of New York, has written • a friend predicting pleasant news from the New Amsterdam National within six weeks. Everyone who knows E. O. is hoping.
EL. JOHNSON, of Waterloo, la., was in • Chicago long enough during the week, on his way from the East, to put in an application for a place in the big Chicago-Denver special.
DEPOSIT insurance in the abstract, is by investigation conceded to be both practical and feasible, and with sentiment and selfish motives fully eliminated, becomes a plain common sense business proposition, equally beneficial to the banker and depositor.
C. H. Church.
ANOTHER of those Ohio banks, which fought the new bank inspection law has failed — by assignment. Self preservation usually is the real reason for objection to inspection and supervision, although that never is the reason stated.
FREDERICK D. COUNTISS, of this city , has been elected a member of the New York Stock Exchange. He is the active manager in Chicago of S. B. Chapin & Co., a prominent wire house.
claim correspondingly. Counter proposition was made, but negotiations have been discontinued for the present.
This committee was named by houses that placed bonds originally with investors. It intends to request deposit of bonds. The other committee, including R. R. Govin, of New York and W. W. Gurley, of Chicago, represents only a small percentage of the bond issue. Its existence, however, indicates some misunderstanding or disagreement.
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The Farmers and Merchants Bank
The following officers are reported for the Farmers & Merchants Bank of Wood River, 111.: R. M. Smith, president; A. B. Daab, vice-president; and S. B. Knepper, cashier.
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John W. Harper succeeds Charles Callahan
as cashier of the First National of Sidney, Neb.
rangements had been made with so large a number of borrowers at his bank that the institution had ceased to purchase commercial paper for the time being and that he is seriously considering marking up the minimum rate for loans. As it is, the bank will not place loans under 4F2 per cent, which is an advance of 1/2 of 1 per cent, compared with the low figure of 30 days ago.
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E. K. Boisot to Represent Chicago Clearing House
E. K. Boisot probably״ will represent the Chicago Clearing House on the Fernald-Ho-denpyl-Fisk committee of Indiana Southern bondholders. The -Walsh note held by״ Chicago banks is secured by about $2,500,000 bonds. Representatives of the Clearing House recently offered to take over some bonds reducing their
Crop Moving Demand in this City
Chicago banks are beginning to feel the demand for money to finance the autumn crop movement. As yet these developments have not reached the stage of actual call for funds. There is strong inquiry״ on the part of future borrowers whose requirements will be large later in the season and the eagerness displayed in making these arrangements at this time is regarded as a forerunner of a brisk demand four weeks hence, which is usually the time when the crop movement begins. The preliminary inquiries are fully״ two weeks ahead of time this year. They are received in greater number than usual, and some banks have opened negotiations for accounts with many״ new customers whose dealings were all conducted in other cities before the panic last fall. A vice-president of one of the largest national banks of this city stated that preliminary ar-