[Volume XXV
THE CHICAGO BANKER
16
Saving Money and Getting PROTECTION
That is the combination enjoyed by policy-holders who get life insurance on the Savings Bank plan. This system of insurance possesses many popular features, quickly appreciated by those seeking protection because of its saving advantages.
BANK CASHIERS
and clerks wanted in all parts of Illinois to represent this Company. Work can be done at off-times and not conflict with regular duties. Without cost to you sample policy, rates and terms will be sent upon request. Address the ‘President.
73he PIONEER LIFE INSURANCE CO.
GEO. L. COLBURN, President
PEKIN. ILLINOIS
YOUR ACCOUNT
will be handled in the most careful and intelligent manner. Collection facilities excellent.
THE NATIONAL CITY BANK OF CHICAGO
OFFICERS
DAVID R. FORGAN, President	L. H. GRIMME, Asst. Cashier
ALFRED L. BAKER, Vice-Pres.	F. A. CRANDALL, Asst. Cashier
H. E. OTTE, Cashier	W. D. DICKEY, Asst. Cashier
R. U. LANSING, Manager Bond Department
TOTAL RESOURCES OVER $10,000,000.00
CAPITAL
$600,000.00
SURPLUS and PROFITS
$ I ,600,000.00
RESOURCES OVER SEVEN AND ONE-HALF MILLIONS
RESERVE BALANCES AND COLLECTIONS SOLICITED
PITTSBURGH, PA.
OFFICERS :
WILLIAM PRICE, PRESIDENT D. C. WILLS, CASHIER W. O. PHILLIPS, ASS'T CASH. C. Wo ARNOLD, ASS’T CASH.
ample to take care of a large business. The room is so arranged that a goodsized force of clerks can work to advantage. The bank expects to do good business from the start, as all of the checks in payment of wages to the Cleveland-Cliffs Iron Company’s local employees will be drawn upon it. The bank has accounts at many points and is now prepared to do business with similar institutions in all parts of the world.
National Banks Organized in Michigan
Between March 14, 1900, and July 31, 1908, Michigan organized 31 national banks with a total capital of $4,663,000.
In this total of new national bank capital Michigan passed 33 of the 46 states of the Union, being only exceeded by the 12 states of New York, Pennsylvania, Texas, Kentucky, Ohio, Indiana, Illinois, Minnesota, Iowa, Missouri, Oklahoma and California.
Since the national banking law was first enacted Michigan has organized 200 national banks only 14 of which have gone into insolvency.
Becomes a State Institution
The private bank of E. S. Wagar of Ed-more, is incorporated under the name of the People’s State Bank, and is doing business. The officers are E. S. Wagar, president; William A. Wood, vice-president; H. E. Wagar, cashier. The bank has a capital stock of $20,000, and deposits of $92,000 or $93,000.
Tr*
Money Buried
A customer of the Pioneer Trust Company, of Kansas City, handed in $7,000 in currency for deposit last week.
“You have had this buried?” the receiving teller asked. The bills were moldy and mildewed and had the appearance of having been underground.
“Yes, I buried it last year in October when the financial depression started,” said the depositor. “This week I dug it up.”
V»
Plans have been prepared for the construction of a new bank building, 25x60, at Hudson, S. D.
Michigan Banking News
By W. T. FOSTER
land-Cliffs Iron Company, and his associates, a considerable number of the shares have been placed among the company’s employees, including miners, mechanics and others, on the Swanzey range. Mr. Mather is the president of the bank; W. H. Hopkins is vice-president and manager, and H. H. McMillan is cashier. The directors are Messrs. W. G. Mather, M. M. Duncan, C. V. R. Townsend, W. F. Hopkins and G. R. Jackson.
Interior of Bank Is Attractive
The interior of the bank is attractive and convenient. The building occupies the corner of Pine and Flint streets, commanding a view of the park site, river channel and steel bridge crossing from the main line of the Munising railway. The main entrance is on Flint Street and there is also a large entrance on Pine Street, leading to the upper floor.
The main room is forty feet in length by twenty-five feet wide, with vestibule about five feet square. The clerical department occupies the west side of the building, facing Pine Street. The cashier’s department is twelve by fourteen feet in size, and is fitted out with furniture that matches the fixtures.
The teller’s department is enclosed by a spacious cage. There are large double desks in the tellers’, bookkeepers’ and insurance departments, with wickets opening on the lobby. The floor of the lobby is tile, of neat design, in red and white. A marble base eight inches in depth, extends around the walls, also about the fixtures. It is of dark green, similar to the receiving slabs at the three windows. The floors of the cashier’s insurance and clerical departments will be covered with rugs.
Bank Equipped for Large Business
The banking apartment and vault space are
The November number of the Michigan Banker, the official organ of the Michigan Bankers Association, looks very attractive. It contains an article on “Bills of Lading” by Clay H. Hollister; “Economic Issues of the Times,” by Henry Clews ; “Guaranty of Bank Deposits,” by H. H. Smith, and many short items. The “Legal Department” contains references to decisions or questions of banking law of interest to the banking fraternity. The Michigan Bankers Association is state agent for Bank Fidelity Bonds and Burglary Insurance for the benefit of the banks in Michigan, and it is to their interest to obtain the, same through the agency of the association. Another New Bank Organized
A new bank has been organized by Twining business men, and commenced operations last week.
The State Savings Bank of Litchfield
The State Savings Bank of Litchfield has opened for business. Its capital is $20,000. Charles G. Sherk is president and George P. Benedict vice-president. Harry G. Sackett is cashier. The handsome new building is modern in every particular.
Gwinn State Savings Bank in Fine Ноше
The Gwinn State Savings Bank, which only recently opened its doors for business, is one of the most attractive institutions of its kind to be found in any of the smaller cities of the Northwest.
The bank is organized under the banking laws of Michigan, and has a capital stock of $25,000, divided into 250 shares of a par value of $100 each. The surplus is $2,500. While the controlling interest in the institution is held by W. G. Mather, president of the Cleve-