31
THE CHICAGO BANKER
July 31, !pop]
At Par and Accrued Interest
44/^AIRO, Illinois—Head of all-year naviga-tion on the Mississippi River” is the title of a fine boom booklet of views in and around Cairo. It is being circulated by the First Bank and Trust Company, H. R. Aisthorpe, cashier, among others. The views show Cairo to be a beautiful city of houses and full of business and enterprise.
CO John H. Puelicher is back on the job at Mil-lk-׳ waukee, receiving the congratulations of the Marshall & Ilsley constituents in particular and of tlie whole city in general. We all are hoping he will be good and strong for the Chicago convention where he will uphold the interests of the Institute section.
44 A BANKER’S MORAL REPUTATION” is
I*■ George F. Orde’s subject at the Montana convention, next week, and he says he isn’t going to take his “horrible examples” all from Iowa either. After all, how about moral reputation as a real asset? The Tipton, Inch, banker was a Sunday-school, prayer-meeting. man of the deepest blue. Yet he only took all ׳the money in sight when he skipped last Sunday.
.
cused for wearing a buttonhole bouquet for a few weeks. He has just moved his prosperous eight year old bank into a fine new home. Besides the handsome new bank building the bank has a surplus almost four times its capital, while the dividends in 8 years almost total 75 per cent of the capital.
One of the grounds on which Governor Comer bases his call for an extra session of the state legislature in Alabama is the inadequacy of the authorized bank examining force.
The Bond Man.
Omaha to Be Well Represented at A. B. A.
. Immediately after the convention last year of the American Bankers Association, the editor of the Western Banker, at the suggestion of Vice-President Caldwell of the United States National Bank, made sure of a number of reservations at the Auditorium hotel at Chicago for the next convention. By thus taking early action the Omaha bankers have secured the very best of accommodations, a series of ten rooms adjoining on a front floor overlooking Lake Michigan, with private parlor which they can use for a general meeting room. Omaha is going to be well represented at Chicago, room reservations having been made as follows: The United States National, two; the Omaha National, two; the Merchants’ National, one; the City National, one; the South Omaha National, one; the Omaha Clearing House, one; the Western Banker, one. It is understood that the bankers will be accompanied by their wives, and prepared to enjoy all that Chicago has to give.
Big Bank Sale
Louisville, Ky., July 26.—When banking hours began to-day the Continental National Bank had passed out of existence as the result of a deal begun after closing hours Saturday. The $200,-000 capital stock of the Continental has been bought by the Commercial Bank and Trust Company, which thereby secures control of the Continental’s $40,000 undivided profits and deposits totaling $700,000. Sam P. Jones, president of the Commercial Bank and Trust Company, remains at the head of his own bank, which, as a result of the deal, now has a capital stock of $700,000 and deposits approaching $2,500,000. The final papers in the deal will be signed to-day.
J. T. Knight, of Sparta, Ga., is organizing a bank at Marion, Ala.
architecture is Grecian and the total cost was $165,000. The officers are Louis Ralhge, president; R. Holtorff, cashier, and Arthur Ralhge, assistant cashier; capital $500,000, surplus $150,-000.
j□ROM January 1st to July 1st there were 2,702 A new accounts opened in the First National of Englewood owing to judicious advertising. In this connection it is suggested that any officer of any bank who desires to improve his style of signature, should observe that of V. E. Nichols, cashier.
A LEADING Chicago banker estimates that $150,000,000 are lost annually in the United States on bogus advertising. Air line railroads, wireless telegraphs and telephones, fifty-cent suits of clothes and a lbng list of “come ons.” The papers which publish such stuff should be indicted.
THIS leads to a question. Why will the government shut up the get-rich-quick concern but continue to carry the mail order sheets which carry such advertising? Not a swindler through the mails has been convicted in Chicago in ten years but used the papers, and they are used today for the very same swindles. The papers and the swindler should be excluded from the mails at the same time.
ED. L. PARKS, cashier of the Bank of Farmington, this state, is a valued subscriber of The Banker. Recently he was asked for a photograph for reproduction and this is his reply: “I showed your letter to my wife—she said: ‘Well, the editor has never seen your face and he isn’t to blame for the risk.’ Bearing in mind this gentle criticism I am convinced that it would be the better judgment not to take any unnecessary risks.”
NEBRASKA bankers have decided to try deposit guaranty, despite the courts and a few disgruntled nationals who can not come in. The plan includes a state-wide clearing house operating somewhat like the city-wide clearing house in Chicago, only more so, until the clouds roll by.
SECRETARY RINAMAN has now on the “paid list” 1,260 members of the Illinois Bankers Association. Nothing ahead but Iowa and Mr. Rinaman expects to get in another hundred before the Decatur meeting which would put a crimp in Brother Dinwiddie out at Cedar Rapids.
EVEN “the best” of stenographers get hungry at times and may be thinking of “dinners” while the boss is dictating about “diners.” Of course they are corelated in a sense, but in the assistant secretary’s office a “dinner” can come without a diner, but reversed—well it isn’t to be mentioned.
A FOUR hundred thousand dollar bond was no obstacle to the Conqueror Trust Co., of Joplin, Mo., in its ambition to be a city depository. Guaranty of deposits in a mild form prevails everywhere.
MISSOURI laws require that the bond for a city depository must be twice the annual income of the city. The annual revenue of Joplin is something near $200,000. Of this sum it is said that there is rarely over $60,000 on deposit at any time, so that the bond of $400,000 is in reality several times greater than the city’s liability.
EG. FOREMAN, president of the Foreman • Brothers State Bank, Chicago, has sailed for a month’s automobile touring in Europe.
COL. FARNSWORTH says Los Angeles and vicinity appears to have been made to order for the 1910 convention of the A. B. A. He came home that way from Seattle just to look it over. So that’s as good as settled and other good points on the map will do yyell to line up for 1911.
COLUMBUS■' Savings and Trust Co. Columbus, Ohio, is using full half pages in the local dailies for savings and says it pays. The matter has been well prepared for the campaign and results are being tabulated carefully. The bank also publishes “The Economist,” a neat house organ.
HARRY C. FOSTER of the Drexel State Bank has recovered from the fright inflicted by a South Shore golf ball which, for a time, was coming his way. Both Cook and Forbes offered alibis.
IT is said that W. T. Perkins, of the Hamilton National leads his fellow Chicagoans in the art of offering the glad hand at conventions and that he just acquired it naturally.
AB. CHRISTIAN, cashier of The Farmers • National, at York, Neb. is being importuned for the secret of his bank’s success and has written to The Banker, his general answer to all inquiries. He says:
ALTHOUGH the youngest bank, this bank has passed all banks in York county in amount of business excepting two׳—passing national and state banks that have been in business over twenty years. There is no question but what the persistent advertising campaign that we pushed from the very start had a great deal to do with the wonderful growth of the “Watch Us Grow” bank. By our systematic keeping everlastingly at it we made every one in this locality stand up and take notice of the bank that used the slogans “Watch us grow,” “Uncle Sam deposits with Farmers National Bank, Why don’t you?” and “The bank that always treats you right.” What advertising has done for this bank can be done for others.
WITH both the big and little banks testifying to the benefits of advertising, our business ought to increase. One of Chicago’s oldest banks, but one which is little known outside of a limited circle, has employed an advertising man. He says “we don’t want bankers’ balances. They are no good.” Probably he was inditing his own autobiography and wished to׳ get accustomed to the N. G. verdict.
“JV/I .Y trip to Detroit” is a neat red and gold i-V 1 memorandum book, sent out by the Burroughs people, and contains a pass to “the biggest adding machine works” in the world. Alternate pages show fine photogravures of the show points of Detroit.
4 4 YV7 HEN anything goes wrong with a car the W best plan is to carefully consider the possibilities by first turning the situation over in the mind, and after having arrived at the most plausible cause for the trouble, proceed to prove the diagnosis.” Might well be written of a bank and it wouldn’t be bad advice either.
FRED E. FARNSWORTH was in Chicago over Sunday, on his way back from his coast trip, to 11 Pine Street, New York. He is enthusiastic over the increased membership of the A. B. A. and over the prospects for the Chicago convention. From now until Sept. 13th he will be “on the job.”
NO, dear! The Wall Street operator is an optimist when long on stocks only. He changes his spots when it is his cue to buy. This may help you to keep cool over the Morgan, Perkins, ITarriman, and other interviews.
CHICAGO CITY BANK, 6233 South Hal-sted Street, held a reception for its customers and the general public on July 24th and 25th, the occasion being the opening of its new building which has just been completed. From 6:30 A. M. to 9:30 p. m. one continuous stream of visitors passed in and out of the handsome new building. The interior is finished in marble. The