16	THE CHICAGO BANKER	[Volume XXVII
			
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			Pioneer Pays Promptly /'-\NE of the things that have made the Pioneer Life Insurance Co. grow so rapidly has been the promptness with which it pays its death claims. The business policy of the company is to make a careful medical examination, thus securing preferred risks, and then to stand by our hazards accepted. No quibbling, no delay; but always prompt and courteous with CASH IN FULL the day proofs of death come in. Annual Rates per $1,000 for Either Men or Women Age 20, per year . $10.00 Age 40, per year . $12.39 Age 25, per year . $10.22 Age 45, per year . $14.26 Age 30, per year . $10.64 Age 50, per year . $17.08 Age 35, per year . $11.27 Age 55, per year - $21.78 Other Ages in Proportion The Pioneer Life Insurance Co. GEO. L. COLBURN, President, Pekin, 111.
			
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town have increased the capital from $200,000 to $400,000 by the declaration of a dividend of 100 per cent to stockholders on the old capital.
H. C. Swords Elected Treasurer
Henry C. Swords, president of the Fulton Trust Company, was elected treasurer of the New York Stock Exchange to fill the unexpired term of the late Franklin W. Gilley, who died suddenly recently. Mr. Swords is a member of the governing committee and also of the committee on admissions of the exchange, of which he became a member in 1877.
To Open a Foreign Department
A new departure will be inaugurated as soon as_ possible by the litle & Trust Company of Western Pennsylvania when, within the next week, a foreign department will be opened in connection with the general banking business of the company.
At a recent meeting of the board of directors it was decided to open a foreign department, and preparations were immediately taken looking towards that end. Although the matter was suggested by President L. F. Ruth, it met with unanimous support on the part of the directors of the institution.
Just now the First National is the only institution having a foreign department, and’before the First National took up the matter the private banks conducted by foreigners were the only places where the large foreign population of Connellsville and vicinity could transact its business in a satisfactory manner.
Julius Yiro will have charge of the Title & Trust Company’s foreign . department and the necessary changes in the interior arrangement of the bank are being made. The foreign department will have its office in the room formerly occupied as a private office by President L. F. Ruth, Mr. Ruth taking up quarters in the directors’ room.
Several Banks Declare Dividends
The Hazelwood Savings & Trust Company has declared a semiannual dividend of 3 per cent.
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from the position of correspondence clerk to receiving teller and general bookkeeper ; L. A. Kerrigan, who was clearing house clerk, becomes discount and securities clerk; G. T. Gray, formerly an assistant, is promoted to the position of individual bookkeeper; W. M. Cawley is in charge of pass books and filing. The new employees are Harrison Foster, proof desk and analysis clerk; R. S. Brown, correspondence ; Miss Ellen R. Hills, stenographer to cashier; Miss Ella Richards, telephone operator and assistant to Miss Hills. Other announcements include E. G. Lang as night watchman; P. H. Vaughn as janitor, and Samuel Duskins as messenger and assistant janitor.
In the notifications sent to the members of the force, Cashier Dunbar said that he was “pleased to note that we have been able to effect the reorganization entirely within our own bank, with the exception of the proof and analysis department, which we expect to establish and the new department for outgoing remittances.”
Peoples Bank of Parsons
The new Peoples Bank of Parsons has a capital stock of $50,000. Directors and officers were elected as follows: Directors: F. J. Scou-ton, M. P. Walsh, F. N. Chase, E. R. Williams, Morris Williams, Geo. Turner, A. L. Chase and C. C. Rhodes, of Parsons; Joseph Moritz and A. J. Ruddy, of Hudson, Edward McLaughlin, of Wilkes-Barre; James Judge, of Plains, and M. T. Kelly, of Miner’s Mills. Officers: President, F. J. Scouton; vice-president, M. P. Walsh. The latter was also elected provisional treasurer. V. A. Shindel was elected secretary.
August Number of Business Monthly Interesting
The Business Monthly for August has appeared, and in addition to an interesting description of the handsome new building for the First National of Pittsburgh it contains the usual interesting local financial news. The publication is one of the firmly grounded institutions of the bank.
Declare 100 Per Cent Dividend
The directors of the First National of Johns-
The directors of the Federal National of Pittburgh have elected H. W. Loos as assistant cashier to succeed John E. Haines, who recently resigned to take up other lines of business. The new assistant cashier is a very capable young man who is very well liked by the patrons of the Federal National. He has had thorough experience as a banker and has excellent ability and judgment. He began his banking career with the Tradesmen’s National, then went with it when the Columbia National absorbed the Tradesmen’s and has been with the Federal since 1903.
Calvin Wells is Dead
Calvin Wells, one of the oldest of Pittsburgh financiers, died suddenly after an illness of only a few hours. Mr. Wells, who devoted much of his time to the Pittsburgh Forge & Iron Company, of which he was president, had been in his office in the afternoon, and returning to his home was seized a short time afterward. Mr. Wells was connected with the Peoples group of banks, as director, and was a director of the Exchange National. He was 82 years old.
All Night Feature a Success
The Franklin Trust Company, which had deposits of $550,000 on June 14th, when it moved to Fifteenth and Market streets, had on July 31st deposits of $728,000. This showed an increase of $178,000, or over 30 per cent, in a month and a half. The open-at-night feature of the company, the officers say, is working satisfactorily and growing rapidly. Last Saturday night there were 60 deposits made during the evening and 50 checks cashed.
Many Promotions in the Exchange National
Important changes have occurred at the Exchange National following the election of Joseph W. Marsh, president, and Alexander Dunbar, cashier.
S. N. Kreider, formerly general bookkeeper, has been made assistant cashier and auditor. P. D. Beatty, formerly teller, has been made paying teller; J. T. Woods is advanced from discount clerk to special clerk; J. E. Mason is promoted