[Volume XXVII
THE CHICAGO BANKER
30
THE CLASSIFIED SERVICE
SAFES AND OFFICE FIXTURES
FOR SALE—Lot of high grade deposit boxes, good as new, two steel vaults, screw door and manganese safes, all good as new. We carry the largest stock of safes in the West. DONNELL SAFE COMPANY, 200-202 E. Washington St., Chicago, 111. Established 1886.
BANK FIXTURES FOR SALE
The Ottumwa National, Ottumwa, Iowa, has enlarged its banking room and offers for sale a complete A. H. Andrews C&. Co. set of oak fixtures, five wickets, desks, chairs, cages and counter. These are “good as new” and will be sold cheap. Photographs and plans furnished. Can be fitted to any room. Address the Cashier, Ottumwa National Bank, Ottumwa, Iowa.
FOR SALE
Burroughs adding machine at a bargain; very little used ; in perfect order ; cost $350• Address BURROUGHS, care of Chicago Banker.
HELP WANTED
Good Bank Men Wanted — Applications by experienced men will be received by a prominent Chicago Bank for the following positions : First, General Man who can keep books, and relieve tellers; Second, Transit Department men who can run adding machines; Third, Bookkeepers; Fourth, a Head Messenger; Fifth, Messengers. Applications, with references, should be addressed to No. 2244, care of Chicago Banker.
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The Credit Man and His Work. By E. St. Elmo Lewis, p ostpaid, $2.00.
This book stands unrivaled in first position for its thoroughness and for the authoritative way in which the whole complex subject of credits is handled. It is for the practical man and will well equip him for any position which has to do with credit work in business, banking, or corporation management.
The National Bank Act, with Amendments. Annotated by J. M. Gould. Postpaid, $3.12.
No one can know too much about the BANK ACT, and all the disputed and much-discussed points are fully covered in this valuable work.
The Principles of Money and Banking. By Charles A. Conant. It is a new and complete exposition of its subject. Two Volumes. Postpaid, $4.25.
The Pitfalls of Speculation. By Thomas Gibson. Postpaid, $1.20.
A book dealing exclusively with marginal speculation, and analyzing in a clear and simple manner the causes of failure in speculation, with a suggestion as to the remedies.
The Use of Loan Credit in Modern Business• By Thorstein B. Veblen. Postpaid, 28c.
The above books are the best of their kind, and will be promptly forwarded upon receipt of price.
THE CHICAGO BANKER,
407 Monadnock Block, Chicago.
Investment Bonds. By F. Lownhaupt. Postpaid, $1 90.
Prospective investors who wish to make advantageous use of their money will do well to take notice of this volume. The author does not theorize, but tells only plain facts of the relation of the bond to its issuing Corporation, and of the general investment aspect of the Instrument.
Money and Credit. By Wilbur Aldrich. Postpaid, $1.37.
This volume contains much valuable information and much sound discussion on money and credit.
Principles and Practice of Finance. By Edw. Carroll. Postpaid, $1.85.
A Practical Guide for Bankers, Merchants, and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and Glossary of Commercial and Financial Terms.
The Banking and Currency Problems in the United States. By Victor Morawetz. The author takes up the problem of the National Monetary Commission, appointed by Congress, and discusses the means of providing a permanent safeguard against money stringencies and panics. Postpaid, $1.10.
The Monetary and Banking Problem. By Logan G. McPherson. i2mo. Cloth, $1. Postage, 10c.
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BOOKS ON BANKING, FINANCE AND ECONOMICS
Credit. By J. Lawrence Laughlin of the Department of Political Economy, University of Chicago. Postpaid, 53c.
The nature of credit and its effect on prices have long been a subject of disagreement among economists. Its basis is commonly assumed to be money or bank reserves.
Essentials of Business Law. By Francis M. Burdick, LL. D., Professor of Law in Columbia University. i2mo. Postpaid, $1.50.
This book is not written for lawyers, nor for professional students of law, but it shows how the rules of law governing the commonest business transactions have been developed, and it tells what they are to-day Technical law terms have been discarded as far as possible, and when they are used they are so explained and illustrated as to be easily understood. The principles of law are not set forth in the form and style known to the leather-bound law book, but are simplified and expressed in clear, lucid, every-day speech
Foreign Exchange. Tables converting foreign money into United States Money, and United States money into foreign money at all commercial rates of exchange used in financial transactions between the United States and foreign countries. All about foreign exchange, including various forms of foreign commercial paper and terms, abbreviations, etc. For banks, bankers, steamship agents, importers, exporters and manufacturers. Cloth, $5.00.
Government Regulation of Railway Rates. By Hugo R. Meyer. A Professor of Political Economy in the University of Chicago. Postpaid, $1.60 net.
The Rothschilds of England
child married the daughter of Baron Charles de Rothschild of Naples, and Lord Rothschild, the eldest son of that marriage, married the daughter of Baron Charles de Rothschild of Frankfort. It seems to be indeed almost the rule for a Rothschild to marry a Rothschild, a notable exception to this being when Lord Rosebery married the daughter of Baron Meyer de Rothschild. This intermarriage keeps the Rothschilds millions in the family.
In almost every house in which a Rothschild resides there is to be seen in one of the rooms, usually the chief reception apartment, a rough stone, which indicates that the great family belong to a race who have no abiding country until they return to Jerusalem.
V
Accommodation Notes in Ironwood Failure
Ironwood, Mich., July 19.—It is understood that “accommodation notes” have been discovered among the assets of the First National of Ironwood, whose officers were recently arrested and are now out under heavy bond. Several persons have received notice to pay notes which they declare they did not execute.
In one instance a man who signed an “accommodation note” for $2,500 received notice from Receiver Tillinghast that another note of $5,000 bearing his name had been found among the bank’s paper. He declared that he nçver signecl it.
Several suits have been started in the United States District Court to enforce collection of the so-called “accommodation notes,” the amount of which held by the bank when it closed its doors is variously estimated at from $60,000 to $100,000.
These “accommodation notes,” it seems, were given under varying conditions ־ and agreements, and while several of those־ who signed them are making arrangements for payment others will contest the suits.
The Bagley (Wis.) State Bank will erect a building.
J. S. Williams is president; Geo. A. Ryan, vice-president, and A. H. Young, cashier of the new Alexander (Kans.) State Bank.
ual stranger seeing him on the street would not dream that he was the great financier.
The Rothschilds will not tolerate any slurs on the Jewish people. On one occasion a Gentile who was dining with the Rothschilds had the bad taste to apply the term, “a regular Jew,” to some person in opprobrium. “In this house,” said Lady Rothschild very distinctly down the table, “the word, ‘Jew’ is a title of honor.” His favorite hobby is the Jews’ Free School in Whitechapel, to which he contributes largely. When the Rothschilds entertain, the elite of London society comes to the feast, and the display of wealth is lavish. The late Oueen Victoria had a very high opinion of the couple, and they testified their sorrow and respect at her death by draping the front of their huge London house literally from top to bottom with purple and black for the funeral.
Lord Rothschild’s younger brothers, Alfred and Leopold, are far better-known figures in general society. The first-mentioned is among the great bachelor hosts in London, and is one of the most entertaining dinner conversationalists in England. He possesses a collection of various objects of art that is world-famed, but he studied his subject carefully for years before he attempted to buy anything. This is characteristic of the family to which he belongs. The Rothschilds never play with money; they understand the value of most things they buy, whether it be scrip, bonds, horses, pictures, or even a snuff box; what they do not understand they leave alone. Mr. Rothschild “has written two interesting volumes on his own collections.
Leopold de Rothschild is a well-known and popular figure in the racing world and is a member of the English Turf and Jockey Clubs. His wife is one of the most talented and beautiful women in society. She entertains a great deal at Leighton Buzzard, near Ascot, and is particularly fond of amateur theatricals. All the best-known amateurs have performed at her house from time to time.
In their marriages the Rothschilds are very clannish. For example, the late Baron Roths-
That peace or war in Europe depends on the will of the Rothschild family is often stated by the best informed diplomats. Owing to their immense accumulations of ready cash and their power in the financial world, there is no doubt that if they so please the Rothschilds could bring about a European war in 24 hours, and without their consent war is well-nigh impossible.
There have in the past been persons in the financial world who exercised a considerable influence over the governments of civilized nations, but never anything approaching that possessed by the house of Rothschild to-day. The real secret of this power is the unity of the Rothschild family or clan. For over 90 years there has been a Rothschild in Budapest, in Paris, in Vienna and in London, and though they frequently differ in their political views they never at any time acted in opposition in any matters in which the affairs of the Rothschild business was concerned.
The progenitor of this great Jewish family in Frankfort surely never dreamed of such power and wealth.
Many stories have been told of the founder of the English branch of the Rothschild family. Copybook maxims by the score have been put into’ his mouth, at most of which he would probably have smiled; but it is certain that there was at least one rule of conduct which Nathan Rothschild always impressed on his family the supreme importance of observing, and that was to maintain in all matters of business an inviolable unity, a rule that no member of the Rothschild clan has ever been known to break.
The present head of the English branch of the family is Lord Rothschild. Outside his business his interests are centered largely in agriculture on his vast estates near London, but he fulfills his social obligations by entertaining occasionally with great magnificence at his house in Piccadilly.
In private life Lord Rothschild is the quietest and most unassuming of men. He still works hard, going into London daily. The cas-