[Volume XXV
THE CHICAGO BANKER
16
Saving Money and Getting PILOT EC TI ON
That is the combination enjoyed by policy-holders who get life insurance on the Savings Bank plan. This system of insurance possesses many popular features, quickly appreciated by those seeking protection because of its saving advantages.
BANK CASHIERS
and clerks wanted in all parts of Illinois to represent this Company. Work can be done at off-times and not conflict with regular duties. Without cost to you sample policy, rates and terms will be sent upon request. Address the ‘President.
Tdhe PIONEER LIFE INSURANCE CO.
GEO. L. COLBURN, President
PEKIN. ILLINOIS
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
CAPITAL
$600,000.00
SURPLUS and PROFITS
$ 1,600,000.00
RESOURCES OVER SEVEN AND ONE-HALF MILLIONS
RESERVE BALANCES AND COLLECTIONS SOLICITED
PITTSBURGH, PA.
OFFICERS I
WILLIAM PRICE, PRESIDENT D. C. WILLS, CASHIER W. O. PHILLIPS, ASS'T CASH. C. W ARNOLD, ASS T CASH.
ifX
Banking Conditions in Kentucky ^
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Messrs. Helm & Helm, and approved by them, not being altogether satisfied, however, 1 declined to sign the contract until the executive committee could be called and consulted.
1 his was done, and by direction of the committee, in a unanimous vote, I signed the contract, which has now been in effect for some months. I suppose that the report of your executive committee will cover such further particulars as they may deem necessary in regard to this matter.
I he president of the company with which the contract was made is or will be present, and we shall have the pleasure of hearing an address from him, on the subject of “Fidelity and Burglary Insurance.”
On page 107 of the Proceedings of the Association last ),ear, will be found the report of your executive committee. The particular item in this report to which I call your attention at this time, is that part of it relating to the employment of attorneys to represent this association in matters which might need such service.
The committee acting under the instructions given them in a resolution adopted the year before, reported the employment of Messrs. Helm & Helm, of Louisville, to represent the association in a legal capacity, at an annual cost of $2,000, to be paid in quarterly installments. The scope of this employment covered quite a broad field; including not only advice to the association, but opening the door of inquiry to any member of the association who might need such advice or counsel.
By reason of our increased membership this year, we are entitled to eight delegates to the annual meeting of the American Bankers As-(Continued on page 28)
President B. G. Witt of Henderson reviews the year’s progress of the state association at the Lexington convention.




in so many places the evidences of its force and power, the banks of our beloved state, founded as we believe they are, upon the “solid rock foundation of conservative and prudent management” were able to withstand the impact with one or two exceptions, and to-day hardly show a trace of the terrible experiences through which they passed.
It is not my purpose to discuss the causes which led up to the great disaster, nor the preventatives to be used in order to avert like conditions in the future. The distinguished gentlemen who will address you during the sessions of this convention will doubtless discuss these living questions with greater knowledge and ability than I could hope to bring to their discussion. "
Upon being so unexpectedly honored by you in my election to the distinguished position of president of this association, I determined, if possible, to make my administration a business administration, and to do all that I could to promote its best interests along practical lines.
A report of a special committee of the executive committee which was adopted at the last session of this association, seemed to direct me, as president, to sign the contract provided for in that report: covering the subject of Fidelity and Bank Burglary Insurance. The contract, as submitted, was examined by our attorneys,
One of the distinguished speakers at the convention of this association, held in the City of Louisville one year ago, introduced his remarks with this statement: “As all know, we have recently passed through a crisis of distrust in Wall Street, distrust of corporate credit, railway, and other corporate stocks.” This was reflected in what I may call a slow panic, a heavy and prolonged decline on the stock exchange, under a continuous flood of liquidation by both investors and speculators.
After reciting some of the causes leading to the conditions so graphically described by the gentleman, and telling of their effects upon the trade centers of the world, he said that the indiscriminate slaughter of stocks prompted investment buying, and the great scare, after two weeks of storm and stress, gradually passed into history, while prices, with occasional set-backs, responded to the change of sentiment by slow but general recovery. But, whether this will be followed by a relapse or not, remains to be seen.
Could the gentleman who so graphically described “the situation” as it then appeared to" him, and to us, but have been able to foresee what was coming within a few short days, I doubt if he, or any of us, could have considered as calmly and quietly as we did what we all believed to" be a danger passed, and only to be recalled for the lessons to be learned from it, for our guidance in the future. As we all know now, the clouds were but beginning to appear above the horizon, and the sounds we heard were but the far off mutter-ings of the wind which presaged the coming storm.
How grateful we should be that when the storm did break in all its fury, carrying before it