[Volume XXVII
THE CHICAGO BANKER
28
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FOURTH STREET NATIONAL BANK
OF PHILADELPHIA, PA.
Capital ...	$3,000,000.00
Surplus and Profits 6,000,000.00 ־
UNEXCELLED COLLECTION FACILITIES CORRESPONDENCE INVITED
R. H. RUSHTON, President	E. F. SHANBACKER, 1st Vice-President
B. M. FA1RES, 2nd Vice-President
R. J. CLARK, Cashier	W. A. BULKLEY, Assistant Cashier
W. K. HARDT, Assistant Cashier FRANK G. ROGERS, Manager Foreign Exchange Department
Sffo ISakmfo Press
R. R. DONNELLEY & SONS CO.
PRINTERS, ENGRAVERS, BINDERS
Telephones Harrison-350
Corner Plymouth Place and Polk Street CHICAGO, ILL.
SHORT, STANTON & CO.
DEALERS IN TO /^V T\T ־P\ Q
HIGH GRADE ID U IN U O
MUNICIPAL- RAILROAD-CORPORATION AND MUNICIPAL IRRIGATION
Suitable for Banks, Individuals, Trust Funds and Estates Principal Secured ; Income Assured
Circulars describing offerings furnished on request
CHICAGO	CINCINNATI
533 First National Bank Building	1005 Fourth National Bank Building
Telephone Central 6047	Telephone Main 1280
would be willing to advise them. They went to this New York publication, which of course, told them to communicate with well known banking houses handling bonds, or high character advertisers in his publications. Much of the money is invested in these bonds and stocks and mortgages—taking it out of the local community and then it is set to work to build up some other community.
Of course a bank can’t get all the money, in even a small community. But the banker that permits the mail-order investment specialist to come into its territory and take his money away is not any more alive to his opportunities than the local retailer who permits the Chicago mail-order house to sell a $25 set of harness to his customers for $30 plus express charges.
I saw an advertisement in a Wisconsin paper the other day which shows the average of intelligence used in meeting outside competition. “If you have money that you would like to invest in bonds, mortgages, and other securities, we will be glad to offer you gilt-edged investments of this character. Mail deposits received subject to check. Three per cent paid on savings accounts.”
I want to contrast this with the kind of an advertisement that takes the money out of your bank. Here is one taken from a monthly magazine: “Real estate bonds for savings bank depositors netting from 4}^ to 6 per cent. First mortgage real estate bonds, conservatively issued, and secured by properties hon-estly valued, are among the soundest and most desirable of all classes of investment securities and particularly suitable to the conservative requirements of savings bank depositors. As a class, these bonds present the following excellent characteristics: First. The investment
“This is only one of thousands of similar speculative schemes which appeal to cupidity. John D. Rockefeller has the only receipt for a competency, or wealth, that has never been known to fail: ‘Hard work, self-denial, and wise investment.’ The fraud and the fakir have added to this homely formula, and a good many of them have gotten rich quick off of other people’s earnings. To invest one’s savings wisely, is as important as the hard work and self-denial. The Old First National of Washington provides the quick and easy way for absolutely safe investment. No matter how large or small your savings are, they are absolutely guaranteed by a million and a half of assets, by the protection of careful government supervision, and by the character and business experience of the men responsible to you and the government for their safety. Better be safe than sorry.”
I understand the average country banker to be in much closer touch with his entire community than the city banker. I understand too that a country banker is very frequently a banker “on the side,” but the principle I wish to bring out before you to-day is the idea that with the country banker or the city banker— the principle applies in either case. Do you know who has the money in your community —who is■ making investments—where it is going, and why? Recently I talked to a friend connected with a national publication which conducts as a part of its service to advertisers and readers a reputable investment bureau. I saw hundreds of letters from investors in every part of the United States asking for advice relative to investing anywhere from $5,000 to $25,000. The logical place for them to go would have been the local banker, but many snowed that they did’nt know the local banker
Bank Advertising from the Standpoint of the Customer
(Continued from page 25) cal of all advertising, with the consequence that I, no matter how truthful I may be, must increase my advertising in order to overcome the skepticism. I don’t object to the man lying who wishes to lie, but I do object to the man lying when he renders my truthful advertising less effective, in doing so.
The newspapers offers a good opportunity to educate your community. Run your advertisements regularly: if in the country take space in your weekly papers; don’t fill your space so full of type it looks uninteresting; when you have a piece of news, talk about it. When some fake mining scheme blows up, the government issues a fraud order against a swindler, make a little talk about it. It will do you good. Show the people that you understand these things—that you are in touch with real life—that you are not a person with only one viewpoint, but that you are in touch with their everyday lives, as shown in the ads I’ve read. Here is an advertisement which appeared after a get-rich-quick scheme had struck town, in a New Jersey hamlet weekly news-paper:
“Were you in on this? Of course you recall the glowing prospectus of the ‘California Fruit Growers’ Association.’ It was going to return you something like 30 per cent on your investment, and possibly some of your savings went into the maw of this concern. The United States grand jury has ripened the fruit of this association. All of the officers of the association have been indicted for using the United States mails for the purpose of swindling the public.