[Volume XXV
THE CHICAGO BANKER
8
THE FARMERS’ AND MECHANICS NATIONAL BANK
OF PHILADELPHIA, PA.
427 CHESTNUT STREET
Capital .	.	$2,000,000.00
Surplus and Profits 1,320,000.00
Organized January 17. 1807
Dividends Paid . $12,707,000.00
officers:
Howard W. Lewis, President
Henry B. Bartow, Cashier	John Mason, Transfer Offic«r
Oscar E. Weiss, Assistant Cashier
ACCOUNTS OF־ INDIVIDUALS, FIRMS, AND CORPORATIONS SOLICITED PRESENT NUMBER OF STOCKHOLDERS 030
STATE BANK OF CHICAGO
ESTABLISHED 1879	
S. E. Corner La Salle	and Washington Streets
Capital	$1,000,000
Surplus and profits (earned) 1,300,000	
Deposits	19,000,000
OFFICERS	
H. A. Haugan, President L. A. Goddard, Vice-President John R. Lindgren, Vice-President Henry S. Henschen, Cashier	Frank I. Packard, Asst. Cashier Henry A. Haugan, Asst. Cashier Samuel E. Knecht, Secretary William C. Miller, Asst. Secretary
YOUR CHICAGO BUSINESS RESPECTFULLY INVITED
IN CINCINNATI
With Resources of NINETEEN MILLION DOLLARS
And every facility for the satisfactory handling of Bank Accounts CORRESPONDENCE INVITED
Ohio Banking News
The Cincinnati Money Market
The Cincinnati money market shows a much stronger tendency. Rates are being advanced all around. Collateral loans are now being negotiated at to 5 per cent on call and 5 to 53^ per cent on time. The strength is attributed to the heavy movement of funds to the country. It is expected that the firmness, however, will be only of temporary duration, since the mercantile demand is still of very limited proportions.
First Banquet on November 11th
Group Three of the Ohio State Bankers Association, and comprising the counties of Lucas, Henry, Williams, Fulton, Defiance, Wood, Seneca, Ottawa and Sandusky, will give its first banquet on November nth at Bryan. The dinner is to be given by Williams and Fulton counties, and most of the bankers in the counties named :are expected to be present. R. D. Sneath, of Tiffin, chairman of Group Three, will preside at the banquet which will be held at 6 o’clock.
Takes Charge of Bond Department
FI. L. Robertson has taken charge of the Municipal Bond department of the New First National, of Columbus, and will look after this part of the institution. Mr. Robertson is well known in financial circles in the state, having been connected with several well-known bond houses. Before coming to Columbus he was with Borton & Borton, of Cleveland.
T>׳*
“A Million a Minute”
Hudson Douglas has given not in money, but in entertainment “A Million a Minute,” a romance of modern New York and Paris. Early buyers will find a page of Mr. Douglas’ original copy inserted in each book just to show what a real novel looks like in manuscript. The idea is clever. The tale—life in a great city—reads like a newspaper sensation from start to finish. The cover is in black and gold and colors and has all the beauty of a gift book. Each volume is incased. Published by W. J. Watt & Co., New York.
James F. Taylor, and they will fill two vacancies in the Fifth-Third board, created recently by the death of L. A. Ault and the resignation of Harry L. Laws. Dr. J. M. Crawford and E. E. Shipley are also mentioned as possible choices for these directorships. Otherwise, the officials and directors of the American National pass out of existence with the liquidation of that institution. The entire clerical force of the American will, however, be taken care of by the consolidated bank.
C. A. Hinsch Head of Merged Banks
President Charles A. Hinsch, of the Fifth-Third National will be the head of the merged bank. The Fifth-Third National now has over 500 stockholders.
The Woodland Avenue Savings and Trust Co.
The Woodland Avenue Savings and Trust Company, of Cleveland, has taken out a permit for a three-story brick and stone building at Buckeye Road S. E. and East Eighty-ninth street. The building is to cost $30,000.
Profits of Banking
The Bank of England is said to have had a bad half-year, because its profits for the six months ending with August were only about $3,250,000. How Oklahoma would like to make such a bank as that do stunts!—Cleveland Leader.
The Mansfield Savings Bank
The Mansfield Savings Bank, of Mansfield, purchased the $300,000 street paving bonds sold by the city of Charleston, W. Va. The Mansfield Bank offered no premium, but the money is to be delivered to the city when needed. Weil, Roth & Co., of Cincinnati, also were bidders.
A merger of the American National into the Fifth-Third National of Cincinnati was approved by the board of directors of each bank Friday and actual consolidation will in all probability be accomplished by the first of the month. The Fifth-Third National absorbs the American National, the consolidated business to be conducted in the present offices of the Fifth-Third National. The Fifth-Third National has a capital of $2,500,000 and the American National a capital of $500,000, with $80,000 surplus and undivided profits. The Fifth-Third will increase its capital $200,000 to $2,700,000, which new stock will be sold to the present stockholders in the American National on the basis of $225 a share. The American National will appoint liquidating trustees, who will handle such assets of that institution as are not included in the merger and actual transfer, and the stockholders will receive from that source a substantial dividend.
Deal Known as “Stock Merger”
The deal is what is known as a stock merger, the American National turning over to the Fifth-Third its business, including deposits, bills, loans, &c. The deal is on the basis of $118 a share for the stockholders in the American National. American National stock has been selling in the neighborhood of $107 a share, a transaction at this figure having been reported several days ago. The stock of the Fifth-Third National is selling in the neighborhood of $266.50 a share.
Only one of the officials of the American National will go into the official family at the Fifth-Third, he being Herbert A. Winans, the cashier. Two directors of the American will go into the board of the Fifth-Third. These two will probably be A. G. Brunsman and