[Volume XXVII
THE CHICAGO BANKER
16
Geo. L. Colburn
President
Pekin, 111., June 25, 1909
Mr. Geo. L. Colburn, President
The Pioneer Life Insurance Co., City Dear Sir: I want you to know how very much I appreciate the promptness with which your company settled the §2,000 of Insurance carried by you on the life of my late husband, Cornelius R. Rust, which was within a few hours after I had filed the necessary papers. The characteristic promptness of the Pioneer Life Insurance Co., and the courtesy of your representatives, must surely endear your company to the policyholder and result in the further attainment of a magnificent growth in prestige and usefulness.
Yours very sincerely,
LENA RUST
Operating the Savings Bank System whereby the carrying of Life Insurance becomes a means of saving money, and not an expense.
PIONEER LIFE INSURANCE CO.
PEKIN, ILLINOIS
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
R. U. Lansing, Manager Bond Department
Aimer Newhall, W. H. Talbot, H. D. Morton, C. K. McIntosh and James K. Wilson.
The bank’s correspondents are some of the leading bankers in the largest cities of the world.
A New Kansas Bankers Association
Kansas state bankers have organized a new, independent state bankers association, rather than a state bank section as in some states. It is likely that most of the states having deposit guaranty, where the national banks are contesting the law, will do likewise. Oklahoma practically has divided. The officers of the new Kansas organization are: C. N. Prouty of Kansas City, president; Wm. Mac-ferran, Topeka, vice-president; George W. Robinson, Wichita, second vice-president; F. G. Bergen, Summerfield, treasurer, and W. E. Wilson, Washington, secretary.
Bankers to Finance Canal
Muscatine, Iowa, Special, July 19.—At a meeting of the Independent Power Company, formed to finance the Moscow canal, which will cost $2,000,000, officers were elected as follows: President, J. L. Geiler; vice-president, S. G. Stein; secretary, R. D. Francis; treasurer, C. R. Musser. Each of the officers represents a local bank. All options are secured along the line from the Cedar to the Mississippi River. It will develop 50,000 horsepower.	^
New Bank in Ironwood
Ironwood, Mich., July 19.—A new bank, to be named the Gogebic National of Ironwood, will occupy the quarters of the defunct First National as soon as they can be had. The new bank is under control of steel trust interests, and will cater to the business it influences. Had the defunct bank sold out two years ago to the trust, it might have been saved by reorganization and steel company backing.
New Pennies in Demand
Chicago will receive its share of the new cents bearing the head of Lincoln instead of the Indian, which are being coined at the Philadelphia mint. Large demands have been made by the banks in addition to the requests from the subtreasuries for the Lincoln cent. Chicago is said to use more minor coins than any other subtreasury, with the exception of New York. The new coins will be ready for distribution on August 2d.
most modern equipment, making them thoroughly fire and burglar proof.
The large entrance to the upper floors is finished in white Vermont marble. The halls are large and light, and the offices are spacious, with high ceilings and well ventilated and provided with a maximum of natural light. The basement is equipped with heating and vacuum cleaning plants and hot and cold water is provided in every room in the build-
JOHN FLETCHER
Chicago
ing. Altogether, the building is as handsome as it is substantial.
This bank commenced business December 1, 1897, with a capital of $500,000, which was increased to $1,000,000 on July 1, 1905. The first dividends paid were 5 per cent per annum, but since December 31, 1901, the dividends have been continuously on a basis of 6 per cent per annum, payable quarterly.
The officers of the bank are: James K. Wilson, president; W. J. Johnson, vice-president; C. K. McIntosh, vice-president; F. W. Wolfe, cashier; C. L. Davis, assistant cashier. The directorate comprises some of the most substantial and best known business men of the city, namely: W. P. Johnson, William J. Dutton, George A. Pope, C. S. Benedict, George
John Fletcher
The directors of the Drovers Deposit National, of this city, have testified their appreciation of the work done by John Fletcher by electing him vice-president of the bank, to take office August 1st. Mr. Fletcher has been assistant cashier since coming in from the Cedar Rapids National, which has turned out so many young bankers of exceptional kind. The meeting was held July 14th and at the same time J. C. Morrison and H. P. Gates were elected to be assistant cashiers. Mr. Fletcher probably will still look after country banks and new business.
V
San Francisco National
The new home of the San Francisco National, corner of California and Liedesdorff streets, has been completed. The structure, which is class A and fireproof, is four stories in height and one of the most imposing buildings in the financial district. The first floor will be occupied by the bank and the upper stories will be devoted to office purposes.
The banking quarters on the first floor are light, airy and spacious. The fixtures are handsome and the ceiling, done in mosaic, is a work of art. The vaults are of the most substantial character and absolutely fireproof.
The new banking quarters are well arranged and present an attractive, substantial appearance. The combination of Vermont marble, bronze work of fine design and execution, and solid mahogany is effective—the decoration of walls and ceiling harmonize well therewith.
The counters are faced with white Vermont marble topped with verd antique marble, supporting Corinthian columns of modern bronze, over which are scrolled bronze windows designating each department. This work, in itself, is a masterpiece and, while inspired by and following the Italian Renaissance style, is yet original, modern and beautiful in effect. The ceiling, supported by gold-capped pillars, shows panels of architectural plaster work in varicolored tints, white and gold predominating— a beautiful contrast to the solid dark mahogany panels and wainscoting of the rooms of the president and directors. Adjoining these latter is a ladies’ room, also finished in solid mahogany and supplied with every convenience for lady patrons of the bank. To the left are the armor-plate vaults, with the best and