THE CHICAGO BANKER
16
[Volume XXVII
NEW LOW COST POLICY
The Pioneer Life Insurance Co. has just issued a New Low Cost Policy. There is an undoubted demand for life insurance at actual cost, and this form eclipses anything heretofore offered by a reliable life company.	6
Current Cost Rates on New Policy Ase at Entry	Ann״a, Premium
i'i	$10.00
10.22
I?	10.61
40	n27׳
j9	12.39
in	14•26
50	17.08
Write for Free Specimen Policy and rates for all ages. Business done by mail— no agents to bore you. An ideal method for busy bankers and business men. Address—
PEKIN
ILLINOIS
Geo. L Colburn
President
WE HAVE VALUABLE PAR POINTS
also a large volume of items to be collected. Our collection facilities are excellent.
Correspondence Invited
The National City Bank of Chicago
Capital, Surplus and Undivided Profits $2,000,000
OFFICERS
David R. Forgan, President	L. H. Grimme, Cashier	Alfred L. Baker, Vice-Pres
F. A. Crandall, Asst. Cashier	H. E. Otte, Vice-President	W. D. Dickey, Asst. Cashier
K. U. Lansing, Manager Bond Department
Pacific Northwest Banking News
Idaho. Robnett is charged with embezzling $9I7־I5> while Chapman is accused of making false entries.
Increase Capital Stock
Pullman State_ Bank at Pullman, Wash., has increased its capital stock from $37,500 to $50,-000. The stock is all taken by the stockholders, who are all residents of Whitman county, and nearly all of whom live in or close to Pullman. The bank was recently bought by a number of Whitman county citizens headed by R. C. McCroskey of Garfield, who’ was elected president.
Banking Notes
Judge Canfield of Colfax, Wash., has appointed C. W. Waters of Palouse, as receiver of the defunct Palouse State Bank. This is the third receiver appointed within eight days. Creditors now appear satisfied.
Broughton National Bank has opened its doors at Dayton, Wash., with a capital stock of $50,000. Charles J. Broughton is president ; J. L. Dumas, vice-president; A. P. Cahill' cashier, and S. Z. Varnes, assistant cashier.
A meeting of the stockholders of the Cle Elum State Bank, Cle Elum, Wash., has been called for August 7th, to vote upon the proposition of increasing the capital stock of the concern from $25,000 to $50,000.
A building which is to house the new bank to be opened by C. R. Harper and A. W Wachter at Oakville, Wash., has been completed and the institution is ready for business.
Work is well under way on the $20000 brick building of the Grangeville Savings &
I rust Co., at Grangeville, Idaho.
First National Bank of Okanogan, Wash has received its charter and is now doing business. It succeeds the Okanogan Valley Bank. Harry J. Kerr is cashier and manager.
National for Yankton
The Dakota National Bank of Yankton, S. D., has been authorized with $50,000 capital The officers : President, F. C. Danforth ; vice-presidents, J. A. Danforth and W. J. Fanlie־ cashier, S. O. Haugen.
ladies, officers from Boston, New Orleans, Philadelphia, New York, Chicago, and Pittsburgh, were entertained by the local chapter and officers of the chamber of commerce during their stay of two hours in Spokane on June 20th. They visited various parts of the city, being piloted by Joseph Bailey, president of the Spokane Chapter, and George B. Dresher, assistant secretary of the chamber of commerce.
Will Move to New Quarters
״Old National Bank has sold to the Union I rust Company, for $60,000, the Crescent annex property on the west side of Wall Street, between Riverside and Main avenues. I he bank will vacate the present quarters at Riverside Avenue and Wall Street when its fomteen-story building at Riverside Avenue and Stevens Street is completed. The Union Trust Company will occupy the marble bank building. The new structure will be 100 by 142 feet. Work will begin early in August. Eastern Money Cheap
VV. J. Kommers, assistant cashier of the Old National Bank, who has just returned from New York, where he went in connection with financing the $1,000,000 building the bank will erect in Spokane, said that Eastern money is cheap, and can now be borrowed at from 4 to 5 per cent, adding there is little demand for it for new enterprises. This he assigns chiefly to the uncertainty as to the outcome of the tariff legislation.
Appointed on Water Commission
^ George S. Brooke, president of the Fidelity National Bank, has been appointed a member of the water commission of Spokane, by Mayor I ratt. Other members are : W. F. Zimmerman, consulting engineer of the Spokane and Inland Empire Electric Railway Company, and Thomas Malony, business agent of the Federal Union of Spokane.
Held to the Grand Jury
John E. Chapman, formerly teller of the Lewiston National Bank, and Clarence Robnett, former bookkeeper, were held to the grand jury in bonds of $15,000 by United States Commissioner O’Neill at Lewiston,
Spokane, Wash., July 7.—Thirteen banking houses in Spokane reported deposits aggregating $26,039,790.49, or almost $217 per capita of a population of 120,000; cash on hand and due from banks, $8,753,316.45; loans and discounts, $16,626,624.28, and surplus and undivided profits of $1,573,088.82 at the close of business on June 23d, in response to a call from the comptroller of currency. These figures were given out on July 14, 1908: deposits,
׳> cash on hand and in banks, $10,189,504.70; loans and discounts, $12,855,-038.41; surplus and undivided profits, $1,611,-908.75. The Old National heads the list of deposits with $1,446,172.09; others above the $1,000,000 mark being the Traders’ National, $5>°3&>53°-951 Exchange National, $4,653,420.-95; Spokane and Eastern Trust, $3,226,236; Bank of Montreal, $2,248,851.03; Fidelity National, $1,366,757.56. Banks reporting more than $1,000,000 in loans and discounts are: Old National, $4,936,098.78; Traders’ National, $3,-944>9°5-49! Exchange National, $3,627,974.75 ; Spokane and Eastern Trust Company, $1,521,-079.01.^ Traders’ National leads in surplus, which is placed at $549,949.07.
Ordered to Bring Books into Court
Charles R. Hesseltine, president of the United Securities Company, who was arrested on June 23d and held to the Spokane county superior court in bonds of $5,000 on a charge of obtaining money under false pretenses, has been ordered to bring into court all books and papers belonging to the concern. Hesseltine avoided service more than two weeks, but was finally arrested by a deputy sheriff. Deputy Prosecutor Tustin says that Hesseltine has admitted he obtained $26,000 in his capacity as promoter of the enterprise. J. B. Reynolds, who had charge of the Seattle office, has disappeared, and it is said he carried the books off with him. Fred C. Pugh, prosecutor of Spokane county, has been besieged by complainants, who say they were victimized by Hesseltine and his solicitors.
Chapter Men Entertained
One hundred and fifty members of the American Institute of Banking, including 25