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THE CHICAGO BANKER
October 24, ipo<?]
ized in their charter. Small papers of this sort are plenty, but what about the larger ones reported to be losing for their owners from twenty to twenty-five thousand per year. One such bank is reputed to be paying 4 per cent for bankers’ balances subject to check. Bad business.
sponsibilities. In the St. Louis case he is only an assistant cashier.
son of the year, and prudence would suggest that he not only be kept on but kept awake.
il'T'HE SPHINX” is the title of “a magazine * of banking” published monthly by the Central Bank and Trust Corporation of Atlanta, Georgia. Says the editor:
“This magazine will be devoted to the interest of the banking business in Georgia and the South, and it will be our aim to make it as readable and as attractive as possible. We shall avoid any discussion whatever of politics, except in so far as it relates to banking, but we hope to give in a general way such news as will interest our friends and patrons throughout the state, and to reproduce articles from prominent men upon the current topics of the day. We accept no remuneration whatever, our sole object being to get closer to our customers and to add to our list of friends.”
house organ that the business becomes illegitimate.
Cashier.
New Bank for Billings
A new national bank is being organized at Billings, Mont., to be ready for business December 1st. The name of the bank will be either the Merchants National or the Central National, and it will have a capital of $250,000. The president of the bank is to be R. R. Shepherd, and the cashier, R. J. Covert, of Lewistown. Other stockholders are Thos. A. Marlow, Senator Thomas H. Carter, John T. Lindsay, of Helena, A. J. Dabis, John B. Waite, and Guy Stapleton, of Butte: II. Rowley, of Billings; Wm. Rea, Jr., and J. E. Edwards of Forsyth, W. F. Meyer, of Red Lodge, and L. F. Easton, of La Crosse,
Commercial Trust Election
The Commercial Trust Company of St. Louis, held its annual meeting of stockholders last week at headquarters, Jefferson and Olive streets, and elected the following officers:	President,
L. J. W. Wall, to succeed himself: treasurer, J. L. Bahler, to succeed himself; secretary, George V. Chandler: directors for three years, Walter S. Dickey, C. D. Morris, H. C. Henley and O. G. Selden. Messrs. Dickey and Morris were also elected vice-presidents.
T. H. West
T. H. West, president of the St. Louis Union Trust Company, has returned from a vacation spent at Wequetonsing, Mich.
T**
A new bank is being organized at Woodhull, 111,, by John and William Taze.
prospectus for a central bank, and will be glad to forward details to those requesting them.
A recent amendment to the New York penal code provides criminal penalties for certain speculative transactions in securities and produce, and as it applies to both broker and customer, whether the order emanates from within or without the state, it is far reaching in its effects, and will probably result in important changes in the stock and produce brokerage business throughout the country.
THERE are preparations going on for opening the permanent Illinois headquarters in Chicago, by Secretary Rinaman. In a letter he gives the situation in a nutshell. He writes:
iinpEMPORARILY, or until I can close up A my affairs and sever completely my relations with the Illinois State Trust Company, of which I have been an officer since its organization, the office of the secretary will, of necessity, be conducted in East St. Louis. I hope to be settled in permanent quarters in Chicago by December 1st, or at the latest, by January 1st, next, and of this due notice will be given to the members of the association.”
“lV/I EANW HILE, the preliminary ground IV1 work necessary to carry out the wishes of the members as to fidelity and burglary insurance, time-lock cleaning, etc., is being pushed as rapidly as possible, to the end that contracts may be closed at an early date, by and with the approval of the executive council.”
OUT in Nebraska the banking board compelled a banker to cease publishing a small “Banker” house organ as a project not author-
Paris. Secretary, H. E. Shaw, cashier H. L. Timmons & Co., Bement.
Group Seven, Springfield, September 15. Chairman, W. E. Turner, cashier Farmers National Bank, Taylorville. Secretary, Latham T. Souther, cashier Sangamon Loan & Trust Co., Springfield.
Group Eight, Quincy, May 5. Chairman, E. E. Crabtree of F. G. Farrell & Co., Jacksonville. Secretary, F. W. Crane, cashier First National Bank, Mt. Sterling.
Group Nine, E. St. Louis, May 14. Chairman, L. L. Emerson, cashier Third National Bank, Mt. Vernon. Secretary, A. H. Pinkel, cashier State Bank, Waterloo.
Group Ten, Harrisburg, May 21. Chairman, Thos. W. Hall, president First National Bank, Carmi. Secretary, H. R. Ais-thorpe, A. C, First Bank & Tr, Co., Cairo.
The meetings this year have been well attended and much interest has been manifested in the group work. The plan of having a committeeman for each county with whom the chairman and secretary of the group may correspond concerning matters pertaining to the meetings seems to be an ideal form of organization for arousing local interest in group matters and the committee would urge upon these committeemen the importance of their activity in this work. Respectfully submitted,
W. G. Edens,
Chairman.
C. W. Boyden,
Secretary. Wm. Hazzard,
Asher R. Cox,
C. O. R. Stabek,
Committee on Group Organizations.
HAVE you noticed that the stock of the German American National of St. Joseph, Mo., is selling at 285-300?
THE Illinois Manufacturers Association, by its secretary John M. Glenn, gave a luncheon during the week to Li Sum (what a good name for a Chicago real estate paper editor this would be) Ling, editor of the Hong Kong Mail. Mr. Ling is the Henry Watterson of China.
GEO. E. ROBERTSON has retired from the service of the Northern Trust Company, this city, and will engage with the Elko Realty & Development Co., of Nevada. His office, however, will be at 1210 Corn Exchange Bank Building, Chicago.
DON’T forget, after election, that the government contempt case against Samuel Gompers was called off about the same date that union labor let up on “anything to defeat Uncle Joe” Cannon.
BETTER bank supervision is the best sort of antitoxin to ward off an attack of adverse legislation in Congress.
T OSEPH H. INGWERSEN, Clinton, Iowa, *J is the secretary of the new Council Club organized at Denver. AVrite for particulars and get on the list before the goat riding initiation exercises are made a part of every program.
ORTHO S. KING of the Peoples Bank, at Mason City, Illinois, has put forth in circular letter form his plan to “settle all the ills of the financial situation, as well as all future panics.” He has presented a very elaborate
Officials of Illinois Groups
The following interesting report of the committee on group organization was made to the Bankers Association of the State of Illinois by Chairman W. G. Edens of Chicago:
Your committee beg to report that the arrangement of counties made by the committee last year has apparently worked to the satisfaction of all the members this year as no changes have been made in the assignment of counties. Meetings have been held in the various groups and officers elected as follows: Group One, Monmouth, July 23. Chairman, Chas. Boydon, cashier Farmers State Bank, Sheffield. Secretary, S. R. Amlong, cashier Aledo Banking Co.
Group Two, Peoria, July 11. Chairman, L. A. Townsend, president Farmers & Mechanics Bank, Galesburg. Secretary, Wm. C. White, cashier Illinois National Bank, Peoria.
Group Three, Rockford, June 3. Chairman, N. F. Thompson, president Manufacturers National Bank, Rockford. Secretary, H. H. Antrim, cashier State Bank, Freeport.
Group Four, Joliet, March 14. Chairman, Geo. Woodruff, president First National Bank, Joliet, Secretary, Colin Campbell, assistant cashier Fort Dearborn National, Chicago.
Group Five, Kankakee, May 20. Chairman, F. M. Lockwood, A. C., City National, Kankakee. Secretary, J. M. Lyon, cashier Livingston Co. National Bank, Pontiac.
Group Six, Champaign, May 29. Chairman, R. G. Sutherland, cashier First National,