7
THE CHICAGO BANKER
October io, 1908]
New Organization Plan
for Illinois Groups
The capital of the latter class slightly exceeds the combined capital of the conversions and reorganizations.
Two thousand three hundred and seventy-one banks have discontinued business, and there were in existence on September 30, 6,874 national banks, with authorized capital $933,253,275 and circulation outstanding secured by bonds $626,-972,885. The total amount of national bank circulation outstanding is $675,612,327, of which $48,639,442 is covered by lawful money of a like amount deposited with the Treasurer of the United States on account of liquidating and insolvent national banks and associations which have reduced their circulation.
A. L. Ripley
A. L. Ripley, former vice-president, has been elected president of the State National of Boston to succeed S. N. Aldrich.
V*
3 Per Cent Too Much for Chicago
A large railroad sought to deposit $3,000,000 at 3 per cent, but could find no big bank in this city to take it.
Tx»
The National Marine Bank
The National Marine Bank of Baltimore has declared a semiannual dividend of 3 per cent, and an extra dividend of one-half of1 ׳ per cent, payable on demand.
greatest possible extent, interest in the work. By this method the state secretary would not have to rely on his own unaided effects, or at best, a few volunteers, but he would have the advantage of the co-operation of an active man in every county."
*x»
6,874 National Banks
The official statement made public Thursday shows that during the month of September, 1908, fourteen national banking institutions, writh total capital of $1,995,000, were authorized to begin business. Of the number chartered, five with capital of $125,000, were banks with individual capital of less than $50,000, and nine, with capital of $1,870,000, banks with individual capital of $50,000 or over.
The number of banks chartered since March 14, 1900, is 3,981, with authorized capital of $237,503,300,' of which 2,572, with capital of $66,995,500, were incorporated under the act of that date and 1,409, with capital of $170,507,800, under the act of 1864. From the date last mentioned to September 30th, 514 state banks, with capital of $35,705,800, were converted into national banks; 1,273 state and private banks reorganized as national banks, with capital of $82,-862,000, and 2.194 banks with capital of $118,-885,500. organized independently of other banks.
Frank T. Ransom, vice-president of the National Stock Yards National, at East St. Louis, will present a new plan of organization for the Illinois groups at the state convention in Chicago next week. He has notified Secretary Judson of his desire to bring the matter up. Mr. Ransom said in a talk on the matter:
"The recent development of group organization in Illinois has naturally given rise to the question of a form of group government. The necessity of some form of government is apparent but the simpler we can make it, and yet obtain desired results the better it will be as the principle that the wisest government is the one that is least apparent, is in no place more fully demonstrated than in this particular instance.
"The advent of a paid secretary for the state association will have the logical tendency to strengthen the state organization, but the groups can be made of great assistance to the secretary, without in any way conflicting with his work. The stronger the groups become and the more interest centered in group work, the stronger the state association will become and the greater the interest in state work as well. The work so far done by the committee in charge of the group organization reflects great credit on members of that committee, and the}• are to be very highly complimented for their efforts. The committee has wisely left to each group the question of its own organization, but is it not advisable that there be a uniformity of government to conform to the general plan of the state organization in order that the best possible results may be obtained? The following plan is briefly outlined and will be submitted with the hope of directing-special attention to the matter, and by thus doing so, to stimulate interest and discussion.
“The governing body shall be an executive committee, which shall be composed of one member from each county in the group. On the morning of the regular annual group meeting־ there shall be a caucus of the representatives of each county, and a member selected for the executive committee. The names thus selected shall be announced in the group meeting and should any county not be represented, it shall be the duty of the convention to fill such vacancy. This committee shall during the next state convention organize, and its chairman and secretary shall be the chairman and secretary of the group. All subcommittees could be appointed out of the members of the executive committee, thus preventing too many officials, and also concentrating the actual work into the hands of the active members.
“It will thus be seen that by getting one active man from each county, we will have an active worker in every county, and the ethics of his position should certainly require him to see that ever}־ banker in his county is brought into line. By yearly changes of the members of the executive" committee it would be possible to so pass the various offices around as to encourage to the
(Süamles ¡mTEmwj^Y & cocommercial Paper l©ü La ¡SaMl® CEnneal® Correspondence Invited		Depositary of the United States Government	Business Established iu 1879 The Central National Bank of Peoria Under distinctively sound and conservative management Especial attention given to accounts ot banks and bankers	Capital paid in $200,000 Surplus Fund $1 25.000 Deposits over $2,000.000
				—
AT THE ST. LOUIS STOCK YARDS
THE NATIONAL STOCK YARDS NATIONAL BANK
Our especial equipment and close touch with every interest represented at the St. Louis National Stock Yards enables us to eliminate expense and to assure the maximum of security and profit on all live stock business at this market entrusted to us.
ILLINOIS
NATIONAL STOCK YARDS
AT THE ST. LOUIS STOCK YARDS
Peoples Savings Bank Si Trust Co.
Capital and Surplus, §200,000 Deposits, §1,854,834.59
Solicits Accounts and Collections from Banks, Firms and Individuals on Favorable Terms.
C. W. LUNDAHL, CASH. AND SEC.
NELSON H. GREENE, VICE PRES.
. BUTTERWORTH, PRES.
First National Bank o£ Joliet
Capital and Surplus, $250,000
Solicits Collections from Banks
GEORGE WOODRUFF, President	ANDREW H. WAGNER, Cashier
Joyce & Company
(Incorporated)
General Agents
The Rookery Bid¿.	Chicago, Illinois
ILLINOIS ADVISORY BOARD
Charles G. Dawes, Resident Vice-President A. Jl. Earling	David R. Forgan	John A. Spoor
Walter H. Wilson	M. J. Kirkman
COUNSEL
Calhoun, Lyford & Sheean	Winston, Payne, Strawn & Shaw
National Surety Co.
Of New York
Fidelity and Surety Bonds Burglary Insurance