[Volume XXV
THE CHICAGO BANKER
16
Saving Money and Getting PROTECTION
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.
15he 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 $ I ,600,000.00
RESOURCES OVER SEVEN AND ONE-HALF MILLIONS
RESERVE BALANCES AND COLLECTIONS SOLICITED
PITTSBURGH, PA.
OFFICERS :
WILLIAM PRICE, PRESIDENT D. C. WILLS, CASHIER W. O. PHILLIPS, ASS'T CASH. C. W ARNOLD, ASS’T CASH.
Savings Bank Section
Welcomed to Denver
50 per cent. This city went through the panic without resorting to the clearing house certificate plan of adjusting bank balances, daily settlements being made in cash as usual, and the small amount of secured cashier’s checks issued to the public were soon cancelled. No savings institution found it necessary to take advantage of its sixty-day notice of withdrawals, and all wants of customers were promptly taken care of. Business interests suffered but little and after the first few days had passed, it would have been hard to discover, as far as this city was concerned, that the country was passing through a financial crisis.
Denver is to be congratulated upon your visit, for the American Bankers Association is certainly a most important organization which has already left its imprint on the finances of the country, it has before it still greater problems which its conservatism, and the sound judgment, and ability of its members will enable it to solve in a way that should and will affect any new system of finance and banking which the future may bring forth.
The savings bank section especially gets close to the masses of the people, for whatever is done in the interests of the savings of the people of small means, both in the way of education along lines of thrift and economy, and the better security of savings when once in bank, is of inestimable service to them. There is also an unselfish side to the upbuilding and betterment of the savings business where every dollar of deposits is a special and peculiar trust, the safe keeping and profitable handling of which must earn for you from your depositors a “Well done, good and faithful servant.”
I hope, gentlemen, that this may be the most profitable meeting you have ever had, and that your pleasure while here may be abundant. I heartily welcome you to this glorious country of sunshine and exhilarating atmosphere, from whence comes the great portion of the gold and silver you so much delight to see flowing into the tellers’ windows of your respective institutions.
Our happiness will only be complete if we can feel at the end of your visit that you have enjoyed every moment of your time.
raw materials, makes it more than probable that we will within the near future place our manufacturing in the foreground.
Our banks are in a healthy condition, the total deposits of the state being about $130,000,000,
W. T. RAVENSCROFT Denver
$60,000,000 of which is held by Denver banks. This city is the financial centre of a vast territory, and is daily increasing its prestige in banking and business activities. Colorado emerged from the recent panic with the largest cash reserve of the country, the average being, according to statistics compiled, 42.53 per cent, while the reserve in Denver banks in many cases was over
The members of the Savings Bank Section were royally welcomed to Denver by W . T. Ravenscroft, a popular Denver banker. Mr. Ravenscroft said : It is my pleasant duty to extend to you a most hearty and cordial welcome to Denver, the Queen City of the Centennial State. We are glad that you have honored us with your presence, and we extend our hand in all friendliness and hospitality.
This city is the greatest convention city in the United States, and year!}• welcomes numerous representative gatherings, but I am sure none of them have had a more sincere and heartfelt welcome than I now give to this body on behalf of the bankers of this community. I am also sure that our citizens in general view this gathering with great respect, and are more than glad to have you with us, knowing that this convention not only has the interests of the institutions here represented at heart, but the good of the people at large as well.
I hope I may be pardoned for saying that we who live in Denver are proud of our city and state, possessing, as they do, so many attractions peculiarly their own. This city is remarkable when one stops to think that it has been only about fifty years since the first house was built, while to-day we have over 200,000 inhabitants. Our population is in a sense cosmopolitan, and I have no doubt any one of you will pass on our streets people from your own home who are now prosperous citizens of Denver.
Our state is rapid!}■ developing along ever} line, and I believe offers more opportunities than any state in the Union. Our large mining resources, once Colorado’s principal asset, are now overshadowed by our agricultural interests, and the many new irrigation enterprises under way are yearly turning heretofore worthless land into the most productive farms in the world. The fact that we possess within our boundaries immense bodies of coal, and an unusual variety of