[Volume XXVII
THE CHICAGO BANKER
12
FISK	ROBINSON
BANKERS
Correspondence invited regarding Government, New York City, Railroad, Municipal, and Corporation Bonds
Members of the New York Stock Exchange
Commercial National Bank Building
NEW YORK	CHICAGO	BOSTON
Western Trust and Savings Bank
Chicago, Illinois
Capital, One Million Dollars
ESTABLISHED 1873
Is thoroughly equipped to handle all business pertaining to banking and invites the accounts of banks, corporations, firms and individuals
money order committee of the A. B. A. in New York.
Eastern Business Improving
John R. Mitchell, president of the Capital National, has returned from an Eastern trip of ten days. He attended the twentieth annual celebration of the graduation of his class at Yale. From New Haven, Mr. Mitchell went to New York. He says: “Business conditions in the East are gradually getting better. Factories and mills are beginning to run full force and time again. It is the opinion generally that as soon as the tariff is settled the country will respond rapidly. The question asked by all business men with whom I came in contact was, ‘Is business improving in the West?’ I was pleased to reply that we had not suffered to any appreciable extent, and that the outlook for a large business in every line was never brighter. Such is the advantage of living in a rich agricultural section.”
Confident of Prosperity
J. S. Pomeroy, cashier of the Security National, found buoyant optimism reigning on the North Pacific coast. “Everyone there is confident of great prosperity ahead,” he said returning from the tri-state bankers’ convention at Seattle. “A big boom is on at Seattle and the business men expect their town is go-
GRAHAM & SONS
Bankers
Steamship & A	e
Insurance /igcnti
Established 1857—52 Years
Interest on Deposits — Accounts Solicited Money to Loan on Real Estate
Open Evenings — Hours 9 a. m. to 9 p. m.
134 WEST MADISON STREET, CHICAGO
overvaluation part of the danger would be provided against in any measure that the bankers would endorse, and as to the quick asset argument, it has been found, in recent experience, that such loans are about as quickly realizable as some other loans that are made right along without the question of ability quickly to realize ever being raised.
Resources Increased
Resources of the Minnesota state banks have increased from $89,027,899 on May 6, 1908, to $94,307,853 on June 23, 1909. The summary by the state examiner, Anton Schaefer, shows that there are 627 banks as compared with 600 at that time. On June 30, 1899, there were only 170 banks reporting with resources of $36,615,570. Capital stock, surplus and undivided profits show a decrease in thirteen months. Deposits subject to check are less, but time certificates foot up more. The increase in the latter item was from $41,352,151 to $47,504,087. Loans and discounts have increased from $66,078,033 to $71,421,935, and the value of banking houses and fixtures from $3,032,639 to $3,2x5,268.
New Financial Monthly
“The United Banker and Investor” is the name of a new Twin City monthly paper devoted to banking, investments, real estate and general finance. Charles H. Cross is president and manager of the publishing company. Branch offices are maintained in Kansas City, New York, Spokane, and Buffalo.
Will Attend Montana Convention
George F. Orde, cashier of the First National, Minneapolis, will be one of the speakers at the Montana Bankers Association convention, August 45־th, at Missoula. His subject is: “A Bankers’ Moral Reputation as an Asset of His Bank.” He will visit Seattle, Portland, and Spokane on the trip. Joseph Chapman, Jr., vice-president of the Northwestern National, is attending the meeting of the express
The bill introduced by Congressman A. Mitchell Palmer of Pennsylvania, permitting national banks to loan money on real estate, secured by mortgage judgment or other forms of certificate indebtedness which may be made a lien on real estate under the laws of the state in which the bank is situated, meets the indorsement of bankers in this vicinity. When the question was agitated before the banking committee of the Minnesota house Joseph Chapman, Jr., F. M. Prince, E. W. Decker, and F. A. Chamberlain, and other prominent Twin City bankers, were quoted as favoring the modification of the state law to permit such loans. There is no good reason, conservative bankers say, why such loans should be frowned upon, except that there is likelihood to overvaluation, and that real estate is-not ordinarily thought of as a quick asset. The
If Your Vacation
should lead you to or through Pittsburgh, the officers of this Bank will consider it a great favor if you will call and allow them to show you the points of interest in our city, or to add in some way to the pleasure of your visit We hope that bankers everywhere will consider this a personal invitation.
OLUMBIA NATIONAL BANK
OF PITTSBURGH
Depositary of
United States, State of Pennsylvania, City of Pittsburgh