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THE CHICAGO BANKER
August 14, 1909]
To Business Men
־who want their money’s ־worth fine business stationery—
־we send this Portfolio of 25 Specimen Letterheads
Free
If your business

requires the ־writing of quantities of important letters— letters that must look their importance and so impress your correspondents— ־write us today for these Specimen Letterheads on Construction Bond.
They prove you can secure
Impressive Stationery at a Usable Price
Paying too much or paying too little—both are poor economy; Construction Bond supplies the Standard of Value. Although near the pinnacle of quality it occupies the middle position in price, largely because of our method of selling direct to responsible printers and lithographers (never thru jobbers) and only in amounts of 500 pounds or more. By the economies of this method of selling and handling we hold down the price so that yon obtain a much better quality for your money ־when you specify and secure Construction Bond in your business stationery.
This Portfolio of handsome Specimen Letterheads, and the names of printers and lithographers in your vicinity who can supply such stationery on Construction Bond, are free if you use your business letterhead and write for them today.
W. E WROE & CO., 298 MICHIGAN BOULEVARD, CHICAGO
examination of the affairs of the company which shows that the impairment of the company’s capital stock previously existing has disappeared and that it now has a surplus of upward of $70,000. The cessation of writing new business and also in loading and mortality, have made it possible for the company in less than two years to wipe out the impairment, and also to establish a surplus, the total gain being about $500,000.
Bank President Charged with Embezzlement
Several weeks ago the First National Bank at Savoy, Tex., was closed and a bank examiner placed in charge as receiver, to wind up its affairs. As a result of his examinations complaints have been sworn to against E. T. Cook, former president of the bank, J. B. King, and R. H. Cook, charging them with having embezzled $8,707 of the bank’s money in October, 1908. The defendants were each held in $4,000
It is reported that a new bank is to be started at Richmond.
the state of Washington, as the last legislature of that state passed a law requiring that companies of other states operating in Washington must have $200,000 capital stock. When the president of the company, W. M. Ladd, reported to the board of directors the passage of this law in the state of Washington, the directors immediately decided to increase the company’s stock, and it is understood that the entire new issue of stock will be taken by the present stockholders. The company is now doing business in Oregon, Washington and Idaho, and it expects soon to enter California and other states,
Provident Savings Life
Austin, Texas.—The state department of insurance and banking was advised that the superintendent of insurance of the state of New York had issued a certificate authorizing the Provident Savings Life Assurance Society of New York to resume business. This will be good news to policyholders of this company in Texas, the records of the department of insurance showing that the company has about $6,000,000 of insurance in Texas. The certificate is based upon an
Dolley on Bank Law
Topeka, Aug. 8.—The suit filed in the Kansas supreme court yesterday by the attorney-general was a friendly action to test the legality of the bank deposit guaranty law. It was brought by its friends to keep its enemies from going into the federal courts to test the law. Fred S. Jack-son, attorney-general, in discussing the suit today, said:
“The result of the suit will be a determination by our own. supreme court of every question, constitutional and otherwise, that can be raised over the bank guaranty law. This can be done in this suit more quickly and thoroughly than in any other court, as much depends on the construction our state courts place on the law. The suit makes the national banks party because they have an interest in the proceedings and they and their attorneys cannot assert they have not had a fair opportunity to present to the court every claim they have in the law. If any federal question is involved it can be presented to this court and then to the supreme court of the United States without delay and with absolute fairness to every one. The national banks should be treated with absolute fairness and every precaution should be taken to give them the same opportunity as the state banks have, although it is by no means certain that the state is compelled to do so. This suit is simply an effort to treat everybody equitably and to settle all controversies.”
J. N. Dolley, state bank commissioner, gave out the following signed statement:
•“Chester I. Long, B. P. Waggener and a small number of national bankers are determined that those in favor of the bank guaranty law shall be denied its privileges in Kansas. I know nothing about one John L. Webster, excepting that he hails from Nebraska, where the federal courts have set aside, at least temporarily, the guaranty law of that state by an injunction. At any rate, all of these persons are parties to this suit in our own supreme court and have a right to appear there and be heard as to any interest or interests which they may represent.
“A large majority of the state banks in Kansas are in favor of the bank guaranty law and have loyally given it their unqualified support. A great majority of the national banks in Kansas are not unfriendly to a guaranty law and would be pleased to avail themselves of its privileges and protection had not the federal government determined that they could not do so.
“The enemies of the law were present in the legislative halls as lobbyists during the time it was being considered bv the legislature, and opposed it in every way that their ingenuity might invent. They used every effort and secured rulings of the federal department which have prevented me from obeying the law and putting it into effect as to national banks as the legislature fully intended. In other words, they were determined that the people of Kansas, most of whom are in favor of this law and who demanded it, should not enjoy its privileges.
“This suit will clear the atmosphere and settle any controversies as to the law and if it is determined that the national banks have no right to come under its protection a way should be provided that their depositors can be protected through the channels of a strong, sound, solvent insurance plan, so that they may be given equal ־privileges with the state banks.”
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Columbia Life and Trust Company
At a special meeting of the stockholders of the Columbia Life and Trust Co. of Portland, Ore., the capital stock of the company was increased from $100,000 to $200,000. This increase in capital stock was made in order that the company might continue to do business in