TiTe CHICAGO BANKER.
A Weekly Paper Devoted to the Banking and Financial Interests of the Middle West
10 CENTS A COPY
Entered as Second-Class Matter January 15. 1903, at the Post Office at Chicago, Illinois, under Act of March 3, 1879
NOVEMBER 28, 1 908
ZOHETH S. FREEMAN, N ew York
TV/TR. FREEMAN is one of the younger of New York’s distinguished bankers, but has had a varied ־J־1־’־ experience attended with uniform success. He will be a valuable addition to the executive staff of the Liberty National, New York; of which institution he has been elected a vice-president.
A subcommittee of the commission met after the regular meeting to-day and began work on the questions. The full commission expects to meet daily for about a week, but it is not intended that the testimony taken abroad shall be presented to congress before the first session of the sixty-first congress.
That the monetary commission has undertaken the most comprehensive financial inquiry in the history of the country was apparent. The conferences abroad were held in London, Paris and Berlin, during which the members of the commission were received by the most eminent authorities on currency and economic topics.
Group Five, I. B. A., Meeting
By order of the executive committee a meeting of Group Five, Illinois Bankers Association, will be held at the Illinois Hotel in the city of Bloomington, on Wednesday, December 16, 1908.
All bankers are earnestly requested to be present at that time. Arrangements are now being made for a good time together with an entertaining and instructive program, which said program will be mailed in the near future.
F. M. Lockwood is chairman of the group, and J. M. Lyon is secretary-treasurer.
How It Pays
As an illustration of how it pays to be progressive it can be stated that one insurance company will turn over to the new paid secretary for the Illinois Bankers Association commissions upon going business amounting to $2,000 per year to start. Other companies will add to the amount and by the time Secretary R. L. Rinaman gets his new' La Salle Street offices to going the expenses will be pretty well provided for in advance.
Important I. B. A. Council Meeting
A committee representing the Illinois Bankers Association made a trip to New York, this week, to arrange the details of engaging in the fidelity insurance business for the membership in Illinois. Those who went were : O. G. Foreman, vice-president; E. E. Crabtree, the chairman of council, and R. L. Rinaman, the secretary. Their action will be subject to the approval of the council at an early meeting. The selection of executive headquarters was under consideration, to be in the Chicago financial district.
W. H. Holmes, Jr.
Walton H. Holt&es, Jr., manager of the savings department of the Pioneer Trust Company, Kansas City, Mo., and bride passed through Chicago Saturday, returning from the East, where they have been spending their honeymoon.
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A. Booth and Company Investigation
The Chicago creditors of A. Booth & Co. still are delving into the alleged “assets” with little hope of improving the outlook. Stock assessments are being paid in, but not in such quantities as point to the speedy reorganization of the corporation. The outlook for cash dividends on claims is better than it was thirty days ago.
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Currency Revision Held Off
Washington, November 23.—General revision of the American financial system cannot be hoped for at the coming session of congress, but the members of the national monetary commission expect there will be a law' passed corrective of some of the developed evils in the administrative features of banking. These probabilities were evident to-day when the commission held its first meeting preliminary to the making of its report.