21
THE CHICAGO BANKEB
December 5, iqo8־\
Bank
Surplus
$2,000,000
The Mercantile National
OF THE CITY OF NEW YORK
We offer the complete service of a safe, solid and conservative bank. Special and personal attention ¿iven to the business of banks and bankers
Willis G. Nash, Pres. Miles M. O’Brien, V.-Pres. Wm. Skinner, V.־Pres. Wm. H. Taylor, V.-Pres. Emil Klein, Cash.
Capital
$3,000,000
Speaks before Banking and Investment Course
Last week Albert Strauss, of Messrs. J. & W. Seligman, spoke on “Investments as Affected by Speculation and Other Influences Sometimes Overlooked,” before the Banking and Investment Course of the West Side Y. M. C. A., 320 West 57th Street.
Currency Reform Meeting
Last Saturday Senator Aldrich was in conference in this city with local bankers on the question of a measure for permanent currency reform. The commission, which investigated foreign monetary systems during a tour of the principal countries of Europe last summer, is now engaged in canvassing opinions among the financial authorities in this country. Invitations to be present at the conference this week at Washington have been sent to representative bankers throughout the country, and their opinions on the subject of currency reform are expected to be typical of the entire banking community. William H. Porter, president of the Chemical National, has been asked to appear before the commission as representative of New York.
Executive Council Meeting, N. Y. B. A.
A formal meeting of the Council of Administration of the New York State Bankers Association, was held in New Y’ork City, last week, at which were present all members of the council, together with the chairman of the more important committees.
The report of the treasurer showed the association to be in good financial condition. The report of the secretary, E. 0. Eldredge, showed high water mark in point of membership, total being 536, as against 533 at the last convention, 19 of these being trust companies. Among other important matters, the time and place of the next convention were discussed at length.
which position he left to become editor of the “Wall Street Journal.” Mr. Pratt is receiving many congratulations from his many friends in the newspaper field.
The National City Bank
Except for a few minor details the contractors engaged in the remodeling of the New York National City Bank’s new building will complete their work by December 15th. The staff of the bank will move into the new quarters on December 19th.
The Queensboro Bank
The Queensboro Bank, of Long Island City, has filed articles of incorporation with a capital stock of $100,000, and a surplus of $20,000. The proposed directors of the new bank for the first year are: George E. Clay, Thomas F. Haste, James J. Conway, Eugene N. L. Young, Frederick C. Trowbridge, and William M. Griffith.
Appointed State Bank Examiner
Announcement of the appointment of Claude Hutchins, of New York, as state bank examiner, was made Friday at the state banking department.
The Lafayette Trust Company
The Lafayette Trust Company of Brooklyn, a reorganization of the Jenkins Trust Company of Brooklyn, which went down in the financial panic of a year ago, did not open for business Monday. Instead, there appeared on the doors of the bank a brief formal statement confirming an announcement made last week to the effect that the officers of the institution had decided to give up the struggle and permit the institution to go into liquidation. Failure to obtain an increase of capital which the officers maintain was essential to a continuance of the !rank, was assigned as a reason for the action.
much strength to that institution, which is growing rapidly.
Out-of-Town Visitors
Among the out-of-town bankers who visited St. Louis banks Saturday were: A. J. Barnett, cashier of the People’s Bank of Cuba, Mo.; H. C. Hamilton, president of the State Bank of Girard, 111.; C. C. Hemming, vice-president, Bank of Colorado Springs, Colo.; F. M. Chaffin, cashier Clay City Banking Company of Clay City, 111., and John B. Sanders, president of the Boonville Banking Company of Boonville, Miss.
New Bank for Arkansas
Citizens of Salem, Ark., Fulton County, organized the Bank of Salem last week with $15,000 capital stock, B. H. Castleberry, president, and Rex N. Castleberry, cashier.
New York Banking News
Sercno S. Pratt, editor of the “Wall Street Journal,” has been selected by the nominating committee of the New York Chamber of Commerce to succeed the late George Wilson as secretary of that body. This nomination is equivalent to an election, which will be formally held next Thursday.
Mr. Pratt received the endorsement for the position b}r some of the best known bankers in the city. He is the author of “The Work of Wall Street,” and is well known as a writer on financial topics. He began his newspaper career as a young man on the “Commercial Bulletin,” then became New York correspondent of the Philadelphia Ledger. For a short time he was financial editor of the New York “Times,”
—CONTINENTAL NATIONAL BANK
OF CHICAGO
Report of Condition at Close of Business, Friday, November 27, 1908
LIABILITIES
Capital stock paid in..........$ 4,000,000.00
Surplus fund..................... 2,000,000.00
Undivided profits................ 1,529,241.61
Circulation...................... 3’59b»397-5°
Deposits........................  68^967^667.50
$80,093,306.61
RESOURCES
Loans and discounts....$42,025,880.49
Bonds, Securities, Etc........	3,764,628.89
U. S. bonds to secure circulation.................. 3,625,000.00
Other Bonds to secure U. S.
Deposits .................... 205,855.00
Premium on U. S. bonds...	204,687.50
Overdrafts................. 399.05
Due from banks and U. S.
treasurer.......... 13,944,299.49
Cash......................... x6,322,556.19
$80,093,306.61
OFFICERS
GEORGE M. REYNOLDS, President	FRANK H. ELMORE, Asst. Cashier
ALEX. ROBERTSON, Vice-President	HERMAN WALDECK. Asst. Cashier
WM. G. SCHROEDER, Cashier	WILBER HATTERY, Asst. Cashier
BENJAMIN S. MAYER, Asst. Cashier	J. R. WASHBURN, Asst. Cashier
DIRECTORS
JOHN C. BLACK, Chairman of the Board J. OGDEN ARMOUR	W. C. SEIPP	EDWARD HINES
President Armour & Co.	Capitalist	Prest. Ed. Hines Lumber Co.
FREDERICK WEYERHAEUSER	A. J. EARLING
Lumberman & Pine Land Owner, St. Paul Pres. Chicago Milwaukee & St. Paul Ry. Co. GEORGE M. REYNOLDS	ALEX. ROBERTSON	HENRY BOTSFORD
President	Vice-President	Packer
SAMUEL McROBERTS	B. A. ECKHART
Treas. Armour & Co.	President Eckhart & Swan Milling Co.
FRANK HIBBARD
Hibbard, Spencer, Bartlett & Co., Wholesale Hardware
REPORT OF CONDITION OF
THE CORN EXCHANGE NATIONAL BANK
OF CHICAGO
At the Close of Business November 27, 1908
LIABILITIES
RESOURCES
Capital .	.	$3,000,000.00
Surplus .	3,000,000.00
Undivided Profits 2,018,667.67 Circulation .	475,200.00
Dividends Unpaid	183.00
Due to Banks and Bankers .	.	26,491,983.76
Deposits(Individual) 33,561,550.04
$68,547,584.47
Time Loans	$29.308,960.09
Demand Loans	7.37 3.609.99$70 08
Overdrafts	.....	1,758.69
United States Bonds .	.	.	1,350.000.00
Other Bonds	.	.	2,968.991.00
New Bank Building ,	.	.	2,266,062.13
Cash .	.	.	$11.802,476.84
Checks for Clearings	2,702,996.82
Due from Banks .	10,65 8,228.91
Due from Treasurer U. S. 1 1 4,500.00
25,278,202.57
$68,547,584.47
TOHN C. NEELY, Secretary FRANK W SMITH, Cashier B. C. SAMMONS, Ass't Cashier J. EDWARD MAASS, Ass't Cashier
OFFICERS
ERNEST A. HAMILL. President CHARLES L. HUTCHINSON. Vice Pres. CHAUNCEY J. BLAIR. Vice President D. A. MOULTON, Vice President
JAMES G. WAKEFIELD. Ass't Cashier
DIRECTORS
MARTIN A. liYERSON	CHAUNCEY J. BLAIR	CHARLES II. Ill LBURD
EDWARD IL BUTLER	EDW ARD A. XIIEDD	ISAAC (>. LOMBARD
BENJAMIN CARPENTER	EDWIN (i. FOREMAN	CHARLES L. HUTCHINSON
WATSON F. BLAIR	ERNEST A. HAMILL
CHARLES H. W ACKER CLARENCE BUCKINUHAM FREDERICK W. CROSBY
Foreign Exchange - Letters of Credit ־ Cable Transfers