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THE CHICAGO BANKER
October io, 1908}
cashier and manager of the Farmers & Merchants' Bank of Dighton.
Rebuke does not Apply to Michigan
"I don’t believe the standard of national bank examination should be judged entirely by the stinging rebuke administered to the examiners by Comptroller Murray a few days ago,” said a Detroit national banker. “It is my opinion, and also that of many others with whom I have discussed the subject, that Mr. Murray was actuated to a very great extent by laxness and inefficiency of certain examiners, and to correct the evils of the few he scolded the many. It must also be taken into consideration that it is always the aim of a new official to show how clean a new broom can sweep.”
“Comptroller Murray’s remarks were not pertinent to state bank examination in Michigan,” said a state banker. “The examination of state banks in Michigan is particularly efficient and has been for the last two or three years especially. The examiners are men of unusual ability and
Trust Co., New Orleans; Joshua Evans, Jr., Riggs National, Washington; Geo. A. Jackson. Continental National, Chicago; Franklin L. Johnson. Mercantile Trust Co., St. Louis; A. Luria, Hibernia Bank & Trust Co., New Orleans ; C. B. Mills, Peoples State Bank, Clinton, Iowa; Carroll Pierce, Citizens National Bank, Alexandria, Ya.; John H. Puelicher, Marshall & Ilsley Bank, Milwaukee; E. A. Skinner, Third National. Springfield, Mass.; P. J. Slach, Euclid Avenue Savings Bank, Cleveland; A. T. Slaglit, Grand Rapids National; L. M. Spielberger, Union National, Philadelphia; Frank S. Stratton, Black Hills Trust & Savings Bank, Dead-wood. S. D.; D. C. Wills, Diamond National. Pittsburgh; Ralph C. Wilson, Bankers National, Chicago.
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Copper Coins for Philippines
The first copper work ever undertaken at the San Francisco mint, the coining of centavo pieces for the Philippines, has begun.
“THE OLD GUARD”
Photograph of leading members of the American Bankers Association and American Institute of Banking, taken at Denver, October 1, 1908. They are the practical founders of the Institute
they do their work thoroughly and conscientiously. In addition, Commissioner Zimmerman is very thorough in his supervision of the work of the examiners.
“The thoroughly reliable and honest banker welcomes the most rigid examination the Comptroller can give us,” said still another national banker. “That is why the Detroit national banks don't care a rap how rigid Mr. Murray wants to make his examination.”
Opens a Branch
The Commercial Savings Bank of Grand Rapids has opened a branch on the West Side with Wm. H. Gallmeyer as manager.
The Cass County State Bank
John R. Carr and others have incorporated the Cass County State Bank of Cassopolis.
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The Union and Farmers Bank
The Union and Farmers Bank of Sanders-ville, Miss., is being organized by W. E. Ramsey, W. M. Freeman and others with a capital
Extensive improvements are under way for the State Bank of Oshkosh, Wis.
Michigan Banking News
By W. T. Foster.
Dr. John A. Barry and Claude Barry are interested in the organization of the new bank of Harrietta, capitalized at $10,000.
The First State Savings Bank
The First State Savings Bank of Birmingham is being organized with a capital of $2,000.
The Peoples State Bank of Detroit
The Peoples State Bank has began suit against Rep. Guy A. Miller for $3,526.37. The transaction is one of the many growing out of the Cameron Currie failure. Miller made a check for the amount named payable to Currie & Co., July 17th, two days before the Currie failure. Currie & Company indorsed it and sent it to the Peoples State. In due time it was presented and marked “payment stopped׳’ and was protested the day before the failure.
The Farmers and Merchants’ Bank
Carroll Hale has resigned his position with the First National of Traverse City, and has become
John V. Coffield, A. F. Gaulding, and James O’Hara, were given full power to act. The principal features on the program were Otto Krauss’ famous “Barbara Freitchie” and Arthur J. Beriault’s declamation, “Here’s to Dear Old Yale.” Other good events were selections by Rhodehamel’s orchestra and moving pictures of the great Marathon race of London, 1908.
A few impromptu talks and a buffet luncheon concluded the program.
The chapter, through its educational committee, has among other studies, arranged with J. M. Ogden for a series of lectures on technicalities of checks.
Chapter Debating Society Meeting
The debating society of the Chicago Chapter held a meeting Tuesday evening at chapter headquarters and six men were chosen to debate on the question of “National Guaranty of Bank Deposits” before the next meeting of the Chicago Chapter, October 13th. At this chapter meeting three out of the six will be selected to represent Chicago Chapter in the forthcoming inter-city debate with Indianapolis, which is to be held next month at Indianapolis, before the Indiana Bankers Association Convention.
Chicago will defend the negative side of the question.
American Institute of Banking Dinner
On Tuesday evening, September 29th, a reunion of the “Old Guard” of the American Institute of Banking was held at the University Club, Denver. Dinner was served at half past six and the evening was devoted to reminiscences of earl)־■ experiences in institute work, and a practical discussion of plans for increasing the usefulness of the organization.
Frankiin L. Johnson, of the Mercantile Trust Company of St. Louis, and president, of the institute, presided over the meeting, and addresses w-ere made by W. C. Cornwell, who introduced the resolution providing for the establishment of the institute at the Richmond convention of 1900; Joseph Chapman, Jr., and Chas. B. Mills, who have been persistent and active in their devotion to the work ever since its inception; John H. Puelicher, chairman of the executive council; Geo. E. Alien, educational director; O. H. Cheney, deputy superintendent of banks of the state of New York; and l׳'. A. Crandall, and Alfred M. Barrett, former president of the institute. It is proposed that the institute dinner be made a feature of the annual conventions of the American Bankers Association.
As an educational institution, the American Institute of Banking has been pre-eminently successful. It has chapters in forty-four of the principal cities of the United States, and has a membership of about ten thousand. Seventy-five per cent of the bank officials that have been appointed in chapter cities during the past eight }׳ears have been recruited from this organization. Nearly all of those in attendance at the dinner were former active institute chapter men, who have been promoted to official positions in their banks and were at Denver as delegates to the convention.
The following׳ were present: Geo. E. Allen, educational director of the institute, New York ; Alfred M. Barrett, Guardian Trust Company, New York; Andrew Benton, Marwick, Mitchell & Co., New York; Frank D. Brundage, Knauth, Nachod & Kuehne. New- York; Joseph Chapman, Jr., Northwestern National, Minneapolis ; O. H. Cheney, deputy superintendent of banks. New York; C. F. Clark. Dexter. Horton &: Co.. Seattle ; W. C. Cornwell, J. S. Bache & Co., New York; Fred A. Crandall. National City Bank, Chicago; R. J. Druhan, Hibernia Bank &