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THE CHICAGO BANKER
November 7, iço8\
OOBERT WARDROP, of Pittsburgh, who was appointed to organize a national currency association for his clearing house district, has come out in a letter advising against the step. Did anything ever fall quite so flat as the emergency currency bill when the light got to it?
tion and municipal bonds. The management will be in the hands of Frederick A. Yard. itylM,” as H. S. Zimmerman is affectionately called both to his face and behind his back, in Pittsburgh, has gone after the non-member banks in Pennsylvania to bring them into the fold of the A. B. A. and of Group Eight at the same
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AN INTERIOR VIEW OF THE THIRD NATIONAL, ST. LOUIS
ES, this is about the only paper in the financial line which hasn’t dabbled in politics, for
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which most of them were many times “called
down.” A banking newspaper, like a bank, is doing about the right thing when it observes charter conditions. Most subscribers generally look elsewhere for their political and religious advice.	Cashier.
time. The work already has begun to tell and this will be a hint to our Mr. Stone of Peoria.
THE revised constitution, giving the states representation upon the big council, based upon membership in the A. B. A. rather than upon the promises of the politicali)׳ minded bankers who might go to the convention, has been vindicated many times over. It will work the salvation of the À. B. A.
NOW that it all is over, let everyone buckle down to business, and above all let the partisan press resume the publication of the news. Let a special grand jury be impaneled to indict the straw ballot fiends that they may be sent to a lunatorium.
THE Fifth-Third National of Cincinnati is advertising quite effectively in the dailies for the “small depositor.” The ads are well written and are said to be bringing results. The small depositor is the fellow who puts coal into the furnace.
THE Omaha Trade Exhibit has been publishing the gains of the Omaha banks in the past five years. The average must be not far from fifty per cent with the Merchants’ National leading with 82 per cent.
THE Minneapolis dailies are running bank stories galore these days. The latest is about Joseph Chapman, Jr., always wanting, and still longing to be a farmer. F. A. Chamberlain was “intended” to be a minister, his mother thought, and Perry Harrison grew up as a merchant. A. A. Crane, although a classy amateur photographer, admits that his first love is banking. Man)־׳ believe he was “born so.”
JUST read what Secretary Macfadden, of North Dakota, has to say about co-operation between banks in the matter of time locks, insurance, the purchase of typewriters, adding machines, etc. Then he goes a step farther on the subject of state clearing houses. No mistake about his conclusions either, that you can’t keep bankers forever paying dues unless you show a return for the money.
BERT CLARK, who used to travel out for the National City Bank, New York, again will assume that connection. When the National Citv bought its Seattle National, Mr. Clark was sent out there, but this interest has been sold and Mr. Clark, after this week, will be back in New York.
Finley barrell & co., of this city,
stock brokers, have opened a department for the handling of high grade railroad and corpora-
Chicago Savings Banks
Chicago savings banks showed total deposits on September 24, 1908, of $145,398,589, or over $16,000,000 less than the maximum of August 20, 1907. There are no savings banks in the State of Illinois like those of New York, but there are savings departments in nearly all commercial banks, and savings deposits are reported separately from deposits subject to check. The number of savings depositors in the State of Illinois June 30, 1907, was 605,918.
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The United States National
At a meeting of the directors of the United States National of San Francisco last Friday the resignation of R. B. Murdoch as cashier of that institution was accepted, and Edw. H. Geary of the Merchants National was elected to succeed
The Canadian Bank of Commerce
The Canadian Bank of Commerce has opened a new branch at Elbow, Sask., with P. R. Morrison in charge, and at Revelstoke, B. C., with A. H. Allen as manager.
it can be discovered by the examiners. The supervision will be so close that unsafe practices will be corrected or the banks will be eliminated from the association.” The constitution provides that any member may be expelled from the association at any time by a two-thirds vote of the central board if in its judgment such member is in an unsafe condition or is conducting its business in an unsafe manner. Upon such expulsion notice thereof shall be sent to the National Comptroller of the Currency or to the State Bank Commission and to each member of the association. The following officers and directors com-pose^the central board of the association: President, C. K. McIntosh, San Francisco; vice-president, J. E. Fishburn. Los Angeles; secretary. C. E. Woodside, Los Angeles; E. D. Roberts, San Bernardino; H. S. McKee, Long Beach. E. P. Foster, Ventura; J. T. Morey, Watsonville; W. W. Garthv'aite, Oakland; O. J. Woodward, Fresno; Frank Denman, Petaluma; C. B. Bush, Woodland.
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Joint Stock Banks
The number of joint stock banks in Great Britain has decreased from 90 to 53 in 20 years owing to consolidations.
California State Clearing House Association
The central board of the California State Clearing House Association met last week in the rooms of the clearing house on Pine Street, San Francisco, organized, elected officers and adopted a constitution, a copy of which will be sent to each bank in California. The objects of the association, as stated in the constitution, are: To improve and strengthen the banking system of this state; to prevent improper or unsafe conduct on the part of anv bank ; to provide a svstem of thorough and complete examination into the affairs of even׳ banking corporation or individual banker belonging to the association by expert examiners and to safeguard the common interests of the banks and the public. Every bank in California is eligible to membership, but before being admitted must pass a most rigorous examination as to its stability, which will assure depositors that members of the association will transact business on a sound and ,safe basis.
President McIntosh said:	“One of the pur-
poses of the association is that the system of examination will be so thorough that it will be practically impossible for a bank to dissipate its assets sufficiently to injure its depositors before