The CHICAGO BANKER
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
OCTOBER 10, 1908
Two Well Kn own Chicago Bankers
COLIN S. CAMPBELL
Mr. Campbell is from Denver, not as a visitor but as an adjunct to the working force of the Fort Dearborn and has made good. At present he is secretary of Group No. 3, Illinois Bankers, which group includes Chicago and the Northeast counties. Few of the junior bankers in this city have in such large measure, the gifts, accomplishments and the pleasing personality of Mr. Campbell. It truthfully can be said also, that his efforts are fully appreciated by his superiors in the Fort Dearborn.
CHARLES N. GILLETT
Mr. Gillett is one of the youngest officials of the First National, Chicago’s largest bank, probably the most youthful who ever held the place. He is up from the ranks and is a living indorsement of the civil service which makes the First such a delightful place of employment. As chief clerk Mr. Gillett acquired a knowledge of the great organization which is helpful in his place of greater responsibility. Mr. Gillett was at Denver and honestly tried to see all of the bank’s correspondents who were present.
J. T. Talbert
New York banks which deal in commercial paper are beginning to show considerable interest in the proposition originating with Joseph T. Talbert, vice-president of the Commercial National of Chicago, that firms who borrow from banks on their company notes without collateral should have their statements certified to by independent accountants.
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Philadelphia Banks
During the period between August 22, 1907, and September 23, 1908, thirteen months, national banks of Philadelphia earned $4,199,795, equal to nearly 7 per cent, on the actual capital invested in their business. They paid in dividends $2,283,295.
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The State Bank of Chicago
The State Bank of Chicago has deposits of $19,080,352 and resources of $21,394,142.
and is making rapid strides towards an even more commanding position.
Its deposits, according to the statement made under the last call of the Comptroller on September 23d, totaled $32,119,293, being exceeded by only three other local national banks. This total represented a gain of $6,410,584 for the year.
Incorporated in 1900, its growth has been nothing less than phenomenal. Henry Tatnall was the first president of the institution. He was succeeded by J. R. McAllister in 1905. J. A. Harris, Jr., is vice-president of the bank, and E. P. Passmore is cashier.
The bank pays 12 per cent per year in dividends, and its stock, which is very closely held, last sold at $301 per share.
Edwin L. Wagner
Edwin L. Wagner, president of the National Produce Bank, of this city, has been elected a director and vice-president of the South Chicago Savings Bank.
National Bank of the Republic
The National Bank of the Republic of this city has declared its usual quarterly dividend of 2 per cent.
In its report to the Comptroller of the Currency on September 23d this bank showed deposits of $20,900,000, being an increase of half a million dollars over the figures shown by the last statement.
A Council Barbecue
Wm. George, president of the Old National, Aurora, has invited the Illinois Bankers Executive Council, the vice-presidents and group chairmen to meet at his big Aurora stock farm for their annual meeting on Monday. He will give them an old fashioned outdoor barbecue, pumpkin pie, and cider dinner. Indoors if it rains. Chicago guests will leave on the n o’clock Aurora electric car on* Monday, and run through direct to the farm.
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Chicago Currency Movement
Chicago banks lost $12,700,000 on direct currency movement during September. Shipments were $20,400,000 and receipts $7,679,000. September shipments were easily the largest of the year and turn the tide, as up to September receipts were $1,000,000 in excess of shipments.
Total shipments for nine months were $90,-454,000, against $7,974,000 received from the East and $70,775,000 received from other sources.
The September currency shipments for the past three years are almost identically the same, but the receipts show a gradual decline. The receipts for September two years ago exceeded $10,000,000, including $3,000,000 from the country. October is the big month for shipments, last October showing nearly $38,000,000.
Bankers Keep Out
The following republican headquarters interview7 in the Chicago Tribune gives the position of the Chicago bankers upon campaign contributions this year:
“Nobody is contributing. The bankers had a meeting the other day and decided that they would not contribute a cent to campaign funds, and so far as I have been able to learn they are sticking to their decision. Once in a while we are able to get an individual banker to loosen up just a bit. and a mighty small bit. on his own personal account, but not a cent for the bank.
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Franklin National Moves
The Franklin National of Philadelphia has moved into its own building, recently purchased from the Girard Trust Company, at the northeast corner of Broad and Chestnut streets. The building will hereafter be known as the Franklin Bank Building. While the Franklin is one of Philadelphia’s newest institutions, it ranks fourth among the city’s national banks,