[Volume XXV
THE CHICAGO BANKER
6
A dependable depositary, giving effective service in the handling of accounts of banks and of individuals having business in Pittsburgh. Since its
organization in 1810, it has never failed in the protection of its clients.
J. M. RUSSELL 1st Assistant Cashier
J.D. AYRES Assistant Cashier
GEO. F. WRIGHT Auditor
rare
Rank ()iRiltsbiimli
-L/lNatioiral JLAssociation w׳
WILSON A. SHAW
JOSEPH R. PAULL
Vice-President
W. F. BICKEL Cashier
Surplus $2,900,000
“THE RANK THAT HAS GROWN UP WITH PITTSBURGH” ESTABLISHED 1810
Capital $2,400,000
.	.	President
. Vice-President .	.	. Cashier
Assistant Cashier Assistant Cashier Assistant Cashier Assistant Cashier Assistant Cashier
C. H. HUTTIG .
W. B. WELLS
G.	W. GALBREATH J. R. COOKE
D’A. P. COOKE R. S. HAWES
H.	HAILL .
J. F. FARRELL .
rd NATIONAL
OF ST. LOUIS BANK
Deposits, $31,000,000
Surplus, $2,000,000
----- ACCOUNTS SOLICITED -
Capital, $2,000,000
declares that the situation is a very comfortable one.
“I should be well pleased to accept current conditions as a permanent situation for some months to come,” said Mr. Hamill. “Our loans and discounts are at a satisfactory level, and deposits, while yet high, hare shown a disposition to run off and the showing is more satisfactory than it was sixty days ago.
“As an evidence of a comfortable position with ourselves we stopped buying commercial paper about a week ago, the bank’s line being virtually filled for the time being. Such paper as we may take now is only of such maturities as suit our purpose.
“There is plenty of paper offered through note brokers, which indicates a quickening of business in commercial lines. There has been nothing large in that connection, however, and this, to my mind, suggests a revival of normal conditions, in a normal manner, that will prove healthful in the long run.”
Mr. Hamill states that the rates for commercial paper are fairly quoted at ¿\1/¿ to 5 per cent. Discounts at 4 per cent are now rare. The large local trust companies are offering money freely at 4y2 per cent on good collaterals, the loans to run sixty days to six months. Demand remains light. Thus far there has been a great deal of inquiry for funds from corporations having bonds to sell, but the security back of the proposed mortgages is scrutinized carefully, with the result that few issues are being made.
V*
Executive Committee Meeting, C. H. S., A. B. A.
The executive committee of the Clearing House Section of the American Bankers Association met at the association offices in New York, Monday, November 30th, for the purpose of discussing section work and laying plans for the ensuing year.
,V»
Elected Bank Director
Hugh Patón, director of the Michigan Cartage Co., of Detroit, the Bell Telephone Co., and interested in half a dozen other companies, has been elected a director of the Royal Bank of Canada, to succeed Thomas Kenney, of Montreal, recently deceased.
The Greenpoint Savings Bank, of New York City, formally opened its new $200,000 building at Manhattan Avenue and Calyer Street.
needs of this section of the code, and offering such suggestions as occur to them, in regard to the revision of the national bank law. Acting upon this resolution, President Horace A. Crane, of Savannah, has appointed the following committee : F. Bloodworth, Savannah; W. L. Peel, Atlanta; M. P. Lane, Savannah, to represent Group One; P. E. May, Augusta, to represent Group Two; F. T. Hardwick, Dalton, to represent Group Three; F. E. Callaway, LaGrange, to represent Group Four, and L. P. Hi 1 Iyer, Macon, to represent Group Five. The committee will likely meet in a short time and discuss their plans before appearing before the currency commission, but the place and date of meeting is still undecided on.
E. A. Hamill
Ernest A. Hamill, president of the Corn Exchange National, of this city, says there is still an abundance of loanable funds among Western banks, and particularly those of Chicago, but so far as his own bank is concerned he
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torial institutions $7,673,126.28, showing that the national and territorial banks have loaned but 35 per cent of their deposits, capital, surplus, and undivided profits, which marks them as among the most conservatively managed institutions in the United States. There is invested in banking houses and furniture of national banks $339,617, while in territorial banks the sum of $578,320 is invested. The grand total footing of all banks in Arizona is $17,517,596, which is a pretty good showing for a subdivision of the United States that a few years since was considered no good except for Indians, and a place where broken down politicians might be sent.
The scenes through which the country has just passed should be a lasting lesson to the money lender and an object lesson for the conservative banker. The sole aim of the banker should be not to see how much money he can make for his stockholders, but rather that he should be a factor in the development of the country, thus making it possible for him to reap a bountiful harvest and assist his fellow men at the same time. From the center of this great and glorious government of ours comes the pleasing information that “the man of destiny,” one of the greatest presidents this country has ever had, has again shown his desire to give a “square deal,” and says he will urge the admission of Arizona among the sisterhood of states, believing that by our votes we have forever placed the seal of condemnation upon the joint state idea. It matters not what our individual ideas, or opinions, were regarding the joint state issue, let us now all get together and work in unison for statehood and self government.
Gentlemen, I thank you for the honor you conferred upon me, and thank you for your kind attention to me at this time.
V•
G. B. A. Currency Committee
At the last meeting of the Georgia Bankers Association, held at Brunswick in June, it was unanimously resolved that the incoming president of the association should appoint a committee of seven, one from each of the five groups and one from a national bank in Savannah and Atlanta; that the purpose of this committee is to confer with the currency commission of the Georgia Bankers Association to be appointed in the National Congress, with the view of presenting to them the peculiar