[Volume XXV
THE CHICAGO BANKER
24
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Marshall & Ilsley Bank
Milwaukee, Wis.
ESTABLISHED 1847
Capital $500,000 Surplus $370,000
Oldest Bank in the Northwest Conservative	Progressive
We take pleasure in placing our facilities at your disposal and should be pleased to have you write us if you are contemplating opening either an active or a reserve account in Milwaukee.
OFFICERS AND DIRECTORS
JAMES K. ILSLEY, President
JOHN CAMPBELL. Vice-President	HARRY J. PAINE. Asst. Cashier
JOHN H. PUELICHER, Cashier	G. A. REUSS. Mgr. South Side Branch
SAMUEL H. MARSHALL	J■ H. TWEEDY, Jr.
ROBERT N. McMYNN	C. C. YAWK.EY
GUSTAV REUSS
Banking News, Milwaukee—Wisconsin District
fore sent out, but it is not the largest cargo ever shipped on fresh water, as some enthusiasts have been led to claim. It falls far short of that distinction as will be discovered by consulting the records of shipments from Lake Superior.
The Farmers and Merchants State Bank
The directors of the new Farmers and Merchants State Bank of Galesville have elected the following officers: President, A. O. Nelson: vice-president, H. F. Clausen: cashier, J. A. Berg. The bank will open for business soon.
New Building for E. Latimer and Company
One of the old landmarks at Delavan, a house long known as the Stowell residence, erected in 1845, has been moved to make room for the new bank building of the E. Latimer & Company. Work on the new bank structure will be started at once.
New Form Puzzling
A large number of Milwaukee shippers and freight representatives are considerably “up in the air” with reference to the application of the new uniform bill of lading.
At the offices of the Milwaukee road announc-ment was made that for the present the old bills of lading, or shipping tickets, will be accepted for all regular shipments, subject to the following notice, which will be printed, or stamped, across the face of each one issued on shipments: Not negotiable. This shipment is tendered, and received, subject to the terms and conditions of the company’s uniform bill of lading. All conditions herein to the contrary are cancelled.
V*
W. B. Ridgely to Speak at Moline
W. B. Ridgely, president of the National Bank of Commerce in Kansas City, will be the speaker of the evening at the first fall meeting of the After-Dinner Club, of Moline, 111. This meeting will be held during the third week in November. The October meeting was postponed on account of politics. Mr. Ridgely had promised to address the club at the opening meeting, but was too busy on account of the election. He is known locallv, for at one time he wras connected with the Republic Iron and Steel Company, and used to visit this place regularly.
However, notwithstanding the lack of business, values have remained firm and there seems to be no pressure to sell.
Milwaukee Bank Clearings
The clearings of the Milwaukee banks for the month of October, were $52,757.710.62, against $57.393,158.44. October a year ago was the last of the big business months of the year, as the financial stringency came about that time.
The bank clearings for the week were $10,669,-360.44. or nearly normal.
The “Frame Field”
President A. J. Frame of the Waukesha National, has donated $1.500 for an athletic field for Carroll College, at Waukesha, Wis. Carroll now has one of the finest athletic field of any of the smaller colleges of Wisconsin, due to the generosity of the well-known Waukesha banker. It will be known as “Frame Field.”
Counterfeit Money being Circulated
Counterfeit money is being circulated in large quantities in Milwaukee. Counterfeit quarters and half dollars are most frequently passed, although there are many nickels and silver dollars. Nor are the operations of the counterfeiters confined to imitating coins.
At One Time the Greatest Primary Wheat Market
Milwaukee was at one time the greatest primary wheat market in the world, and during the years of her primacy in this regard she shipped to Buffalo some of the largest cargoes of grain handled by the carriers of that time. She kept pace with Chicago in the extensive handling of grain until the area of production spread northwestward and the railroad lines into the newer grain country began to deliver the product of a large part of the Northwest to Lake Superior ports. This change affected Chicago as well, and when the character of the lake carriers changed also through the introduction of steam, the Lake Superior shippers took the broom for the volume of shipments, and the amount sent forward in individual cargoes.
Last week Milwaukee shipped her largest cargo of grain in the steamer Adam Cornelius, which steamed out of port with no less than 265.000 bushels of wheat in her capacious hold. This cargo is 15,000 bushels larger than any thereto-
Articles of incorporation for the State Bank of Gresham have been filed. Its capital is $15,000. Incorporators are Louis G. Lauberstein, Fred A. Oilman, Herman Koappen and others.
Milwaukee Building Operations
Milwaukee needs another fourteen-story building. if for nothing else than to increase the year’s building operations. In the ten months of this year the total cost for new buildings in this city has fallen behind in comparison with the same number of months of 1907. While more permits have been taken out this year for new buildings the aggregate of cost is nearly one million and a half less than the figures of a year ago show.
In the ten months of the current year 3,755 building permits were issued by the city building inspector, calling for an expenditure of $7.887,-113. A year ago for the same length of time 3,328 permits were taken out for buildings that cost $9,179,652. The big showing a year ago was owing to the construction of the !Majestic building which represents an investment of $1,-000,000, and the Caswell block which cost $250,-000.
The total number of permits taken out this month is 378. for buildings to cost $776,039. A year ago in October 388 permits were issued, representing an aggregate of $1.226,930. Building Inspector E. V. Koch says the decrease in the building operations this year should not be accepted as a sign of the business times. “More permits have been issued for buildings such as flats and cottages,” he said. “There have been no large buildings erected in Milwaukee this year and yet the building operations for the summer have been more extensive than a year ago.”
The Milwaukee Chamber of Commerce
S. W. Tallmadge of the Milwaukee Chamber of Commerce reported the sale of three memberships for the chamber during the week. The following names have been sent in with the applications for membership and are now posted: Charles Stolper, Jr., and Charles C. Blodgett. Milwaukee; H. G. Atwood, !Minneapolis, and D. V. Hales, Waterloo, Wis.
Mr. Tallmadge states that during the past week the stock market has been dull and featureless, with a limited amount of business transacted.