11
THE CHICAGO BANKER
July 17, içoç]
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. let Vice-Pre.ident
B. M. FAIRES, 2nd Vice-President
R. J. CLARK, Cashier	W. A. BULKLEY, Assistant Cashier
W. K. HARDT, Assistant Cashier FRANK G. ROGERS, Manager Foreign Exchange Department
SHORT, STANTON & CO.
DEALERS IN TJ /״V T\T T־^v Qt
HIGH GRADE -D U IN 1 J 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
The Foursome
Handicap and other events on the Golf Club Calendar necessitate prizes of varying importance. There is always an added zest to the contest if the trophies be especially attractive. Our stock affords a large selection of desirable and appropriate goods at prices ranging from $5 to $50.
Signet Rings Collar Pins Watches Travel Bags Umbrellas Canes
SUGGESTIONS
Belt Buckles Belt Pins Hat Pins
Photograph Frames Lockets
Automobile Novelties
Cigarette Cases Cuff Links Card Cases Match Boxes Scarf Pins Purses
Loving Cups in stock at all times from $5 to $500. Special designs prepared when desired.
Spaulding & Company
Jackson Boulevard and State Street CHICAGO
Wm. R. Dawes
W. R. Dawes, cashier of the Central Trust Company, Chicago, has been elected president of the North Side State Savings Bank. This bank is controlled by the Central Trust Com-pany.
V
Bankers to Pay Extra Dividend
As part of the resolution adopted by the directors of the Bankers National Bank calling a meeting of stockholders for August 20th, to vote on the plan of consolidation with the Commercial, they declared an extra dividend of 5У2 per cent, or $110,000. This amount, it is understood, is to be applied on the cost of the $200,000 of new stock to which the Bankers stockholders will be allowed to subscribe at par, virtually reducing the price of the new stock to $45 per share.
V«
Central Trust Company Stock Higher
Central Trust Company stock has advanced to 176 on sales of a few small amounts, and that price is understood to be bid. Brokers attribute the advance to the old story of a consolidation with the Hibernian. J. V. Clarke, president of the Hibernian, has been out of the city for several days, and C. G. Dawes, president of the Central Trust is away with a party of friends. The Central Trust reported earnings of 9 per cent on its $2,000,000 capital at the annual meeting and re-elected the old officers and directors.
V»
Chas. S. Brewster succeeds A. H. Knight as assistant cashier of the First National, Dexter, Me,
ful. Mutuality can well be promoted by such an organization as this; but only when all its units are in touch with and responsive to each other. So I venture to express the hope that this good work of mutual interest and assistance, already so well advanced, will extend in increasing ratio, until this association shall have attained a level of usefulness in this relation, far above its present status.
?5«
One on the Hibernia Rabbit
New Orleans, July 14.—Wyatt H. Ingram Jr., for the last six years trust officer of the Hibernia National Bank and Trust Company, was arrested this afternoon at his home, 1840 State Street, on the charge of embezzlement.
Ingram yesterday confessed to Vice-President Poole of the bank that he had defaulted for more than $100,000. Irregularities were discovered by Mr. Poole in the day’s returns of Ingram, and the confession came when Ingram was asked to explain the discrepancy.
An additional charge of forgery was placed against Ingram to-night, it being" alleged that he forged the signature of George C. Hauser, manager of the Southern Cotton Oil Company, to a check for $5,000.
John J. Gannon, president of the Hibernia Bank, left yesterday for New York, from which port he intended to sail Saturday for a tour of Europe. A telegram to-night intercepted Mr. Gannon at Cincinnati, and he will return home.
Lester B. Brady
On his way from Seattle, Lester B. Brady, head of the Chicago Chapter, A. I. B. stopped off at Freeport, 111., to visit with his parents, Capt. and Mrs. W. I. Brady, of that city.
The honesty, ability, and proper training of the banker, after all is said and done, provide the true basis of protection to the depositor. They are the prerequisites for safe banking; they must lie at the very foundation of the structure, or it will ultimately crumble and fall. No government paternalism, kindly and generous though it may be; no mere enactment of laws, however wise; no scheme of any kind can safely be substituted. Everything should be done to promote and develop these elements, so essential to security, and much has been done, especially in the last few years.
This present agitation and discussion and publicity are all in the direction of helpfulness. They make us think, and action will follow. Better laws, more thorough supervision, more care on the part of directors, a constant raising of the standards of character, capacity and training required of managers and employees, these are the guide-posts along the road to safety. Human nature and systems are not perfect, but is it Utopian to hope and believe that, working along these lines, we may arrive, at no very distant day, at the point where deposit losses disappear?”
This association is for all the banks, country as well as city. Let every country banker feel that he has a part and interest in its mission. He should study its problems and participate more and more in its councils. The larger, the more active, the association becomes, the more concrete will be its interests and the more closely allied will its component parts become, to the advantage of all. Independence is one of the cardinal features of the banking system of this country, yet beyond a doubt the tendency today is towards a certain degree of interdependence, which is highly desirable and help-