[Volume XXVII
THE CHICAGO BANKER
30
THE- CLASSIFIED SERVICE
ADVERTISEMENTS INSERTED UNDER THIS HEADING AT TWO CENTS PER WORD. REMITTANCE SHOULD ACCOMPANY COPY. REPLIES FORWARDED IF POSTAGE IS FURNISHED. USE PRIVATE ADDRESS WHERE CONVENIENT.
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, 200202־ 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.
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.
The Credit Man and His Work. By E. St. Elmo Lewis, f 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, lOc.
These articles have elicited the praise of both economists and bankers.
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.
Oklahoma Bonds Good
Albany, July 26.—Attorney-General O’Malley advised Superintendent of Banks Clark Williams that bonds of the State of Oklahoma are a legal investment for savings banks of this state. The banking law allows investments by such banks in the bonds of any state which has not defaulted in payment of any debt within ten years previous. The attorney-general holds that the fact that Oklahoma has not existed as a state for ten years does not prevent its bonds fulfilling this requirement so long as it has not defaulted within ten years in any of its state obligations.
Banking Notes
John F. Alvord was elected president of the Torrington (Conn.) National, to succeed the late George D. Workman.
Walter B. Law has been elected president of the New Haven (Conn.) Savings to succeed the late Joseph Porter.
John Tait resigned as director of the First National of Meriden, Conn., and Clarence P. Bradley was elected to fill the vacancy.
John B. Henderson, Jr., was elected director of the National Metropolitan Bank, Washington,
D.	C.
The Bank of Palm Beach, Fla., has been organized with a capital of $25,000. A. P. Anthony, E. M. Brelsford, J. C. Stowers, W. J. Dyer, and J. R. Anthony, Jr., are interested.
The Fourth National, Jacksonville, Fla., is being organized, with a capital of $400,000. Frank Adam is president; W. C. Powell, vice-president, and F.. D. Walter, cashier.
A new bank is being organized in Thatcher, Ariz.
Elmer Outten has been elected cashier of the new Peoples Guarantee and Trust Co., of Dover, Delaware.
Arnold Powell was elected vice-president of the First National, Steamboat Springs, Colo., to succeed F. A. Metcalf.
Harrison. Taylor was elected president of the First National of Windsor, Colo., to succeed John
E.	Law.
Just Open a Savings Account
By Eloise Lee Sherman.
I neber had no wish to be A sho ’nough mill’onaire,
’Ca’se so much money es dat is Mus’ be er right smart care.
What I ’u’d like, is des enough To keep things runnin’ smoove,
As ef de wheel er life was ’iled An’ easy in hits groove.
I’d like to git along so well I would n’ hab to pinch;
I’d like to hab bofe ends to meet An’ lap about er inch.
Ef dey did dat, dat’s all I’d ask,
’Ca’se dat ’u’d be er lot;
But I’d sho take dem ends an’ tie In des one good hard knot.
Exchange National Booklet
A handsome booklet has been issued by the Exchange National of Pittsburgh. The announcement of the election of Joseph W. Marsh as president and Alexander Dunbar as cashier is contained in one part of the beautifully printed book, while appropriate tribute in memory of the late Mark W. Watson, former president of the institution, is found in another. Some matters of particular interest concerning the bank make up the remainder. It is perhaps the most beautiful production of its kind ever issued in the city.
A Boston financier says that Minneapolis is the financial center of the country from the west side of Wisconsin to the Rockies and from Iowa to Canada. The institutions buying bonds respect the character of the paper offered here. When Minneapolis needs money to upbuild the surrounding country it can get it from Boston. W. E. L. Dillaway, vice-president of the Mechanics’ Trust Company, makes the statement. With him was E. A. Fordyce of Boston and J. M. Maston of Washington. They went on to the coast. The progress made since Mr. Dillaway’s last visit in 1893 astonished him.
Senators to See Irrigation
M. J. Costello, assistant traffic manager of the Great Northern railroad, has been notified that the United States senate committee on irrigation and reclamation of arid lands will leave Chicago on or about August 31st to come west to inspect the reclamation work in the Dakotas, Montana, Idaho and the coast states.
V
Banker Becomes a Burglar
New York.—After confessing a number of daring burglaries at Rockaway Beach, Ralph Sherman admitted he formerly was the foreign teller for a bank in Williams Street at $5,000 a year. When he was captured he carried the plunder from a number of burglaries. Sherman left the bank to establish a translation bureau, as he speaks a half dozen languages. He failed in this and said that he took up burglary as a profession.
Taft Note Stirs Bankers
Pekin, July 22.—The personal telegram sent by President Taft to Prince Chun, Chinese regent, in behalf of the American claim for equal participation in the Han-kow-Sze-Ghuen railroad loan of $2,750,000, has created a sensation among the foreign bankers and diplomats here. The impression prevails that the matter now becomes political. German financiers threaten to break the concert of bankers.
Fugitive Banker $35,000 Shy
Anderson, S. C.—State Bank Examiner Wilson has completed his investigation of the books of the Bank of Anderson, the cashier of which, J. T. Holleman, disappeared Sunday. Examiner Wilson announced that Holleman’s shortage would not exceed $35,000.
V•
Savings Bank of Rockville
The Savings Bank of Rockville, Conn., has elected the following officers: President, William Butler; vice-president, George Talcott; secretary and treasurer, Arthur T. Bissell; assistant treasurer, E. G. Butler; directors, William Butler, George Talcott, H. L. James, J. C. Hammond, Jr., Arthur T. Bissell, William Maxwell, E. C. Butler, L. T. Tingier, P. B. Leonard, Frederick Swindells, and Halsey L. Allen.