31
THE CHICAGO BANKER
August 14, !pop]
At Par and Accrued Interest
creasing the confidence of the public in such an institution as yours by giving out the information concerning it, the series, I feel certain, will be timely, helpful and appreciated.”
title would be somewhat as follows: _ 1 AMERICAN FINANCIAL INSTITUTIONS—Their History, Development, and Pres-tige. If you will supply me with descriptive data and printed matter I will submit to you the typescript of the article, before it is put into type. This would enable you to go over and correct, or revise it, in regard to the figures' and facts quoted. The proof of the article itself would also be submitted before it appears and in this wav the article would be thoroughly in accord with
both your company’s ideas as well as the -------
-----’s policy. Reprints of the article would
form excellent publicity material, if sent out to present or prospective clients. The expense will not be great.”
ttTTHE endorsement of the-------------is a valu-
* _ able one. It is the oldest and widest known banking periodical in the world, and is continually consulted by investors, financiers, bankers, and other moneyed people throughout the United States as well as abroad. It will give me pleasure to have sent to you a sample copy of the
----- ־---, and any desired information. Will
you kindly let me have an early reply?”
jVi O joke about it. The indorsement of this
I	' great paper no doubt is a valuable asset, even if the cost of distributing it “will not be great.” We do not name the paper or the gentlemanly “associate editor” who writes banks as above for the reason that we do not wish to boom the “Business Builders’ ” adventure too much.
\7 ICTOR DANIEL BRENNER is the first * living man to run in an advertisement on a United States coin. He smuggled his initials as engraver onto the new Lincoln penny.
jyi ONEY conditions are changing and will effect new bond and note issues, even the present dearth of offerings is indicative of the opinion not alone of one set of bankers, but practically of the entire banking profession, that market conditions do not justify active appeals for new capital at the present time.
II	ERE is a little thing by the young banker A * who runs the transit department trolley in the Continental:
I never saw a Purple Cow,
I never hope to see one;
But I can tell you anyhow,
I’d rather see than be one.
The Bond Man.
WHEN the broker writes you that the market is “auspiciously strong,” if you will carelessly read it “suspiciously strong,” perhaps the error will save you some money.
־׳THE PACIFIC BANKER has gone out of its A way to say of The Chicago Banker that it is “the only paper in the country that advocates deposit guaranty currency.” We quote it only to give you a line upon the P. B.’s veracity.
ANKERS everywhere will be sorry to learn A-A that Spencer Trask, of New York, has submitted to an operation for the removal of his left eye. Several weeks ago Mr. Trask was in an auto accident in Boston. The Trask car was wrecked, the banker badly cut up, and the sight of his left eye destroyed. Recently Mr. Trask was removed from the Boston Hospital to his Lake George cottage near Glenn Falls, N. Y.
WT. FENTON, of Chicago, has declined to • express his opinion on Comptroller Murray’s credit bureau scheme further than to sav that it would make it more difficult to do business.
FA OWN New York way, with Clark Williams preaching the gospel of strengthend banks; Wm. Hanhart booming the saving bank business, and Farnsworth urging on the protective committee there is at least one new convert to belief that the place for your idle money is the bank. The convert is the lady who put $600 in the folds of her skirt and then accidently burned up the skirt.
Chicago banks, as readers of these paragraphs know, have been getting some queer advertising proposals, on the coming big convention. But here is another story and if any one has been overlooked, we can put him next with the real, original letter. The “offer” doesn’t come from a new paper with a guaranteed circulation, but from an old paper with a real circulation.
kiFiUSINESS MATTERS”—that is the gen-A-A eral subject line of the letter from which the following extracts, bar the name of the paper, are straight quotations, and the date line, of course, in New York.
4*I HAVE arranged to contribute a series of A articles to occupy one page or more—from
1,100 words upwards—to the ----- ----. They
can be illustrated if desired. One article of such series will deal in a dignified way, with your institution, showing its advantages, growth, and importance. Just now, when up-building is the concerted cry, when Optimism is on the upward trend and everything is being done towards in-
■pVERY one with a memory can recall the AC! days when Bradford Rhodes was an issue at the big A. B. A. conventions. He was a reformer of the unreconcilable kind. He didn’t get much done, but he kept trying. He wanted nominations for officers from the floor and an open shop election. Now he is a thorn in the side of the dignified New York Bankers Association.
T N those days Rhodes had the prestige of his A magazine and banker papers were not published at every cross roads. Now he only is a banker,—a mere banker.
OW it comes to pass that Mr. Rhodes was •1■ ^ “hoist by his own petard,” whatever that means. In short, he had the committee nomination for vice-president of the New York association and, “if slates had gone,” would have been elected. An opponent was named from the floor, however, just as Mr. Rhodes always claimed should be the way, and won out.
AT present Mr. Rhodes wants groups to suggest names of officers (Group VI is backing him) on the first day of conventions so that every one may have a show. It looks as if Mr. Rhodes would be able . to keep in sight of the N. Y. presidency for a long time to come. Hurrah for Bradford and Reform!
THIS week the Central Banker calls him “James A.” Forgan. Last week they called him “J. J.,” which was a wide guess for “James Burns.”
VICE-PRESIDENT for a state, in the A. B.
A. is an honor, but in these days not an idle one. Ohio is presenting W. W. Brown of Cincinnati as a candidate. The vice-presidents are the recruiting officers for new members, among other things. Their reports at annual conventions, too, are important feature of all programs.
WHO will tell why it is so many policemen decline to take the office of chief of police in Chicago? It pays $10,000 per year and perhaps, after all, the new incumbent will not be handed a ticket to any of the state institutions by Mr. Way man.
THE Bankers National will go to housekeeping with the Commercial, September 1st, moving between two days. The Continental will take Saturday, Sunday and Aionday (Labor Day) and be ready for business in the American Trust building on Tuesday morning, September 7th. Nothing doing in the moving line over at the Hibernian.
The West Hudson County Trust Co. of Newark, N. J., will erect a building.
A new bank will soon be organized at Grover, Colo.
T he Bank of Duncan, Ga., is a new institution with a capital of $15,000.
The capital of the Bank of Tuckerman, Ark., which was increased to $50,000, will erect a building.
Livermore, Ky.—V. B. Morton has been elected president, and G. Cary cashier, of a new bank here with a capital of $15,000.
W. AT. Irwin will be president of the Mount Ha-mill State Bank organizing at Mount Hamill, la., with a capital of $12,000.
The Farmers National of Opelika, Ala., has elected G. N. Hodge, president; John D. Walker, first vice-president; J. G. Palmer, second vice-president, and J. E. Hackney, cashier. The institution has a capital of $50,000.
Stockholders Elect Directors
The stockholders of the Security Savings Bank, San Francisco, Cal., have elected the following directors: W. Babcock, J. D. Grant, O. D. Baldwin, S. L. Abbott, E. J. McCutcheon, L. F. Monteagle, R. H. Pease, W. D. Clar, J. L. Blood, J. A. Donahue, F. W. Ray and J. Stern.
Security Bank of Rockwell City
The Security Bank of Rockwell City, Iowa, has been reorganized as the Security State, with $60,-000 capital. The stock was oversubscribed $10,-000. The officers are: President, M. W. Fitz, Manson; vice-president, W. M. Frick; cashier, E. W. Birch; assistant cashier, C. A. Leonards.
The Culpeper (Va.) National elected John J. Davies, cashier, to succeed W. W. Chelf.
The Bank of Kentucky, Lexington, Ky., has been organized, with a capital of $150,000. J. C. Willis will be president.
New Bank Elects Officers
The directors of the Citizens State Bank of Frost, Texas, have elected the following officers: R. J. Sanders, president; L. A. Morgan, vice-president; J. R. Slay, vice-president; J. W. Blake, cashier.
The bank expects to open for business about August 15 th.
Officers Chosen
The directors of the Central Bank, Eureka Springs, Ark., have elected the following officers: John D. Jordan, president; T. F. Hawley, vice-president ; Clio Lynn, the bank’s cashier, was elected to fill the vacancy in the directorate.
V*
Citizens Bank of Asheville
The Citizens Bank of Asheville, N. C., reports capital of $50,000. Surplus and undivided profits $7,500, and deposits of $240,000. Edwin L. Ray is president; George A. Murray, vice-president, and Jno. A. Campbell, cashier.