[Volume XXV
THE CHICAGO BANKER
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The Audit Company			Marshall & Ilsley Bank
of Illinois			Milwaukee, Wis.
			ESTABLISHED 1847
1137 First National Bank Building, Chicago			Capital $500,000 Surplus $250,000
Specialists lira AmdUkiimjg ©,¡ad System־־			Oldest Bank in the Northwest Conservative Progressive
®,tisiira¿ Ptmlblic Service Coirporsttioffiis C. W. KNISELY, C. P. A. President—Manager REFERENCES: Leading Bond Houses dealing in Gas, Electric and Railway Securities			We take pleasure in placing our facilities at your disposal and should be pleased to have you write us if you are contemplating opening either an active or a reserve account in Milwaukee. OFFICERS AND DIRECTORS JAMES K. ILSLEY, President JOHN CAMPBELL, Vice-President HARRY J. PAINE, Asst. Cashier JOHN H. PUELICHER, Cashier G. A. REUSS, Mgr, South Side Branch SAMUEL H. MARSHALL J. H. TWEEDY, Jr. ROBERT N. McMYNN C. C. YAWKEY GUSTAV REUSS
			
rule of liability of carriers where bills have been issued by authorized agents and negotiated, without the goods described therein having been received.
V*
The new People’s National of Mt. Pleasant. Pa., has opened its doors for business.
In less than three years of effort on the part of the committee on bills of lading of this association, a great gain has been accomplished; and the work thus far so successfully prosecuted with reference to the form and contents of the bill will be continued until legislation is procured giving order bills of lading a more definite legal status and providing a universal
of straight to order bills by the fraudulent writing of the words “order of” on straight bills and negotiation of the fraudulent document, will be removed. The order bill will be an order bill and will not have the contradictory words “not negotiable” on it, to render its legal effect uncertain. A fraudulently altered bill will be good for its original tenor.
Banking News, Milwaukee—Wisconsin District
ready formed ears, while other fields have not yet tasseled. Since July 1st the estimate of corn has advanced two points, and now onlv needs rain to make even a better showing. Last year’s estimate August 1st was 80, as against 87 now.
Niblack Chosen Appraiser
William C. Niblack. vice-president of the Chi-cago Title and Trust Company, will decide upon the value of the work remaining to be done on the county tract indices by Henrv J. Weeks. l\Ir. Niblack was decided upon at a meeting on Thursday afternoon of the special committee, appointed to select an appraiser. Assistant District Attorneys Norman L. Baker and Franz C. Esch-weiler favored Louis Biersach, formerly in the abstract business in Milwaukee.
Mitchell Street State Bank
John M. Sch neider, a director of the !Mitchell Street State Bank of Milwaukee and secretary of the South Side Mutual Loan and Building Association, has been appointed by Mayor David S. Rose as alderman at large to fill the vacancy caused by the death of Francis J. Stigilbauer. !Mr. Schneider is a lifelong Democrat, and has long been one of the leaders in the real estate and insurance business of South Milwaukee. In 1907 he was one of the organizers of the Mitchell Street State Bank and has since been one of the directors.
The Milwaukee Money Market
!Monet is being loaned by Milwaukee banks at from 5 per cent to 6 per cent. The demand is only limited at present, as there is the usual August let-up in business. The general situation, however, is satisfactory, with a good fall outlook.
tion convention at Denver, September 28th, will occupy a special sleeping car from Milwaukee# This car, it is expected, will be attached to the bankers’ special train, which will be run from Chicago. All bankers in Wisconsin, who desire to accompany the party, are requested to communicate with the secretary of the state association, M. A. Graettinger, Merchants and !Manufacturers’ Bank, Milwaukee. The attendance from Wisconsin will be large.
First National of Kenosha
Friends of Harvey T. Wells, the absconding clerk of the First National Bank of Kenosha, who was held in bonds of $5,000 in the L'nited States court in !Milwaukee are making a hard fight to raise bonds for him and it is expected that he will be released within a few days.
Wisconsin Crops in Good Condition
The secretary of state has just issued the condition of crops on August 1st as.follows:
The weather of the past month has been favorable for the harvesting of the hay crop and for the ripening of small grains. An immense hay crop has been secured in excellent condition. The wheat, rye, and barley harvests are finished, and the prospects of last month are well sustained by the estimate of the crop when handled. The ripening of oats upon light soils has been hurried by the continued hot, dry weather, and the grain has been somewhat shrunken in consequence ; and there are also reports of damage to the crop by rust, from some districts. As a result the estimate falls off two points from last month.
The weather has been well calculated to push the corn crop, and except for complaints of drouth in some quarters, it is reported as doing well. The crop is uneven, much of it having al-
Milwaukee banks at present are gathering in all the cash possible with the expectation that it will be needed short!•, in the Northwest for use in moving the crops.
"The banks have received a tip that more ready cash than in several years will be needed this fall to handle the tremendous crops,” explained a leading Milwaukee banker. “The result of this is that the banks are getting in all their cash that can be spared from the regular run of commercial trade, and this will be held subject to expected calls from the West.”
John P. Murphy Regaining Strength
John P. Murphy, vice-president of the Milwaukee National, visited the bank and several places down town one day this week. He has been confined to his home for several weeks with a slight recurrence of his old trouble, which followed a fishing trip he made two months ago. He is now regaining his strength.
New Bank for Oshkosh
A new bank is being organized at Oshkosh with a capital of $75,000. John J. Kloechner is one of the promoters.
Bonds Going Quickly
The popular bond issue for the auditorium of Milwaukee, is being sold so fast that Comptroller Gawin announces no more of the $500 denomination are to be had. He sold the last of the smaller bonds on Thursday. He still has some $75,000 left of the $1,000 and larger denominations of this popular issue. The bonds pay 4 per cent and are good for twenty vears.
The Wisconsin Delegation to Denver
Arrangements are now being made by which it is expected that the entire delegation of Wisconsin bankers to the American Bankers Associa-