7
CHICAGO BANKER
THE
November 14, Jpo¿1]
where he made a study of banking methods as practiced abroad. He has returned to Joliet to buckle down to the work for which he is especially fitted and which he can assume with all the confidence of an expert.
Mr. Woodruff is young, only 22 years of age, but the success of his brother as a bank president is a precedent for the belief that a Woodruff is old enough to take banking responsibilities as soon as he becomes of age.
Commerce Association Plans Skyscraper
Since acquiring the option on the Gunning property, on Plymouth Court, near the corner of Jackson Boulevard and Plymouth Court, the building committee of the Chicago Association of Commerce, with David R. Forgan, chairman, is discussing the erection of a skyscraper as a home. The association’s options are for property having a frontage of no feet on Jack-son Street and 140 on Plymouth Court. A feature of the proposed building will be an assembly hall which will have a seating capacity of 800 to 1,000.
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First National of Ransom
William C. Flick, who has been cashier of the First National of Ransom, 111., has resigned his position and will go to Streator, 111., to become assistant cashier of the Union National at the latter place, succeeding W. H. Ryon.
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The Augusta (Kv.) German Bank has increased its capital stock from $15,000 to $25,000.
F. W. Woodruff
Joliet, 111., November 10.—At a meeting of the directors, Frederick W. Woodruff was elected assistant cashier of the Citizens’ National.
The position is a new one in the financial institution and no change has been made in the corps of officers which is as follows: Robert Pilcher, president; Fred Bennitt, vice-president; W. G. Wilcox, cashier; Frederick W. Woodruff, assistant cashier.
“It is a good thing to have young blood in business” was the only comment made by one of the directors.
Frederick W. Woodruff is adapted by heredity, early training and education for the life of a successful banker. He bears the same name as his father whose capabilities as a banker were recognized since the early days of Joliet, until his death two years ago.
Young Frederick or “Ted” as he is familiarly known was put through his paces in the banking business by his father. He entered the service of the First National as messenger and served in every clerical capacity in the bank, under his father’s tuition, mastering every position.
Leaving the bank after an unusually severe training he entered the University of Pennsylvania and took the course in finance, graduating last June with such honors that he was offered the position of assistant professor of finance by his alma mater.
He declined the honor and went to Europe
Capital paid in
$200.000 Surplus Fun I
$1 25.000 Deposits over
$2 OOO.OOC
Business Established iu 1879
The Central National Bank of Peoria
Under distinctively sound and conservative management
Especial attention given to accounts of banks and bankers
Depositary of the United States Government
ШАШШ ШАШАШАТ & СО־
Commercial Paper
Correspondence Invited
AT THE ST. LOUIS STOCK YARDS
THE NATIONAL STOCK YARDS NATIONAL BUNK
Our especial equipment and close touch with every interest represented at the St. Louis National Stock Yards enables us to eliminate expense and to assure the maximum of security and profit on all live stock business at this market entrusted to us.
N&TinNAI STfir.K YARDS -	- ILLINOIS
AT THE ST. LOUIS STOCK YARDS
Peoples Savings Bank & Trust Co.
Capital and Surplus, $200,000 Deposits, $1,854,834.59
Solicits Accounts and Collections from Banks, Firms and Individuals on Favorable Terms.
WM. BUTTERWORTH, PRES.	NELSON H. GREENE, VICE PRES.	C. W. LUNDAHL, CASH. AND SEC.
First National Bank of Joliet
Capital and Surplus, $250,000
Solicits Collections from Banks
GEORGE WOODRUFF. President	ANDREW H. WAGNER. Cashier
our extensive countrysides, can be testified to by those officials of the United States Treasury and of the banks who hear the autumnal clamor fer bills of small denominations.
It would be interesting, if time permitted, to cite additional facts taken from the daily life of the banker and the nation, in reply to the theory advanced at Denver.
Permit me, in conclusion, to express a doubt whether the average citizen, or the plain man, if you so prefer, is ready to join in the assertion that clannishness, rather than broadmindedness, lack of public spirit, rather than intelligent citizenship, aloofness, rather than a desire to know his fellow-men and their conditions, are characteristic of the American banker. Would it not be more just to say of him that, deriving his support from the public which he serves, he is closely identified with his depositors and their interests, and that, more than bankers in any other land, he is of the people, for the people and by the people ?
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Banking Business Starts Ahead
Springfield, 111., November io.—The sentiment of financial security following the election of Taft is emphasized strongly in the Illinois state banking department. A new state bank was organized by the department at Champaign to-day. Another will be organized to-morrow at Crete, and a third on Thursday at Lanark. It is understood in the auditor’s office that preparations for the organization of these and other banking institutions in the event of success of the republican national ticket were made weeks ago, the formality of submitting papers to the authorities being held in abeyance until the outcome of the election was learned.
John J. Mitchell] 1
At the annual meeting of the stockholders of the Chicago, Burlington and Quincy railway, John J. Mitchell, president of the Illinois Trust and Savings Bank, of this city, resigned as a member of the board of directors. He was succeeded by Daniel Willard, second vice-president of the road, in charge of the operating department.
The Bank of Silvis
It is reported that a reorganization of the Bank of Silvis, (111.) has been effected. The capital stock has been increased to $30,000, and J. Lee Crowder of Mount Vernon, 111., takes over the interest of J. R. Cox. The new officers are: President, A. B. Cox; cashier, J. Lee
Audit Company of Illinois
The Audit Company of Illinois, 1137 First National Bank Building of Chicago, announce their removal to suite 143942־ First National Bank Building.
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A new building will be erected by the First National of Sanford, Fla.
Joyce & Company
(Incorporated)
General Agents
The Rookery Bldg.	Chicago, Illinois
ILLINOIS ADVISORY BOARD Charles G. Dawes, Resident Vice-President A. J. Earling	David R. Forgan	John A. Spoor
Walter H. Wilson	M. J. Kirkman
National Surety Co.
Of New York
Fidelity and Surety Bonds
COUNSEL
Calhoun, Lyford & Sheean	Winston, Payne, Strewn & Shaw
Burglary Insurance