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° p	A Weekly Paper Devoted to the Banking
and Financial Interests of the Middle West
10 CENTS A COPY
Entered as Second-Class Matter January 15, 1903, at the Post Office at Chicago, Illinois, under Act of March 3, 1879
SEPTEMBER 5, 1908
St. Louis Bankers Who Have Earned Their Spurs
EUGENE SNOWDEN, ST. LOUIS
Mr. Snowden is a Southerner and was annexed by the huge National Bank of Commerce to work in a field which it has so largely pre-empted for its own. He makes frequent visits to the bankers conventions in the South, where he has a large and growing number of acquaintances. The Southwest is one of the richest producers of new accounts and the St. Louis and Kansas City banks do not overlook any popular features of exchange courtesies if they know it. The department of new business is an important one in any bank.
J. F. FARRELL, ST. LOUIS
Mr. Farrell has been a convention goer of the higher type, and it was in this difficult and overworked field that he earned his promotion to the general official staff of the 3d National. His secret of success seems to have been in doing effective work without being conspicuous or troublesome. His coming up to a group of men never was a sign for dispersion. He never seized upon and wrung the hand of the country banker as if he suspected that it contained a stolen watch. In all this he has been a model.
people of France, that is not deposited in banks.
“It is the desire of the commission to make its report a mine of exact information upon monetary matters. The commission then will endeavor to frame a measure adapted to the needs of the United States. No attempt will be made to frame a measure to present at the coming■ short session. The commission will meet again in Washington, on November 10th, and will continue its work until the beginning of the short session in December. Ample opportunity will be given to the bankers and business men of the United States to present their views.”
Retired Banker Dead
Frederick C. Hewitt, a retired banker and Yale graduate, died at Oswego, N. Y,. at the age of 69, leaving an estate valued at $20,000,-000. At the time of the Fish-Harriman struggle for the control of the Illinois Central, he gave proxies for his 6,000 shares to Stuy-vesant Fish.
later the suit was dismissed and the costs were taxed up against Kuhns.
Jennings complains other suits have been begun against him as a result and he will be compelled to expend $25,000 in defending him-
Postal Savings Banks Studied
New York, September 1.—Senator Daniel of Virginia, Representative Vreeland, of New York, and Representative Overstreet, of Indiana, a subcommittee of the congressional commission appointed to study the banking and monetary systems of Europe, arrived home to-day. Speaking of the results of the commission’s inquiries abroad, Mr. Vreeland, A-ice-chairman, said:
“The commission gave special attention to the workings of the postal savings banks of England and France. The bankers of Paris gave us one bit of information which was something of a surprise to us—that is, that at least $400,000,000 in gold is hoarded by the
Home Bank Anticipates Payment
The directors of the Home Bank of Brooklyn met Monday, and decided to anticipate the fourth payment to depositors in connection writh the deferred payment plan by paying on Friday of this week instead of on June 4th next, the moneys due to depositors on the latter date, signifying that the bank is nine months ahead of the plan of payment adopted before the bank resumed business on June 4th last. Thus far all of the so-called deferred payments have been made in advance of the time originally specified by agreement, and it was stated officially that the Home Bank is in excellent shape.
W. J. B. Patterson
The editor of “The Texas Banker” in making a business tour of the country has spent his time chiefly in the larger cities. While in Chicago he laid that business seemed to be good everywhere especially the automobile business in Detroit. Air. Patterson referred to the enormous cotton crop just made in Texas and ventured to say that it would be marketed and not held as it was last year for “15 cents or nothing.” He said that had been a mistake and that banks loaning on growing crops this year would not agree to carry the farmers beyond a reasonable period. This is a live question in Texas.
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New York Bankers in Chicago
The special de luxe train from New York, over the Pennsylvania Lines to the Denver convention will arrive in Chicago, Saturday, September 26th, at 11:30 a. m., and depart at 3 p. m., over the Burlington. During the three hours in Chicago the visitors, one hundred and fifty in number, will try to see a few of the new bank buildings and some of the sights. Doing Chicago in three hours would be a Herculean task to any but a New Yorker. It is unfortunate that the Chicago-Denver train leaves 24 hours before the big Pennsylvania train gets in. Chicago bankers will do the honors, however, as best they can in the time given.
Richard T. Crane
One of the causes for the recent financial depression has been the too optimistic ideas of the “railroad boomer,” according to R. T. Crane, who sees in the recent period of railroad activity only an unwarranted mania for spending money for useless additional facili-
J. Elliott Jennings Brings Suit
J. Elliott Jennings, formerly a well to do real estate dealer of Chicago, and originator of the day and night bank, brought suit for $25,000 damages in the superior court on Tuesday against Alvin G. Kuhns, Jr.
The declaration charges Kuhns has injured the plaintiff’s financial credit in Chicago. It is pointed out that on Alarch 27, 1907, Kuhns secured an attachment on Jennings’ property. The attachment was issued and served, but