[Volume XXVII
THE CHICAGO BANKER
10
The Wisconsin National Bank
OF MILWAUKEE
CAPITAL -	$2, OOO. 000
SURPLUS -	1,000,000
OFFICERS
L.J. PETIT, President	HERMAN F. WOLF, Cashier
FRED’K KASTEN, Vice-President	L. G. BOURNIQUE, Asst. Cashier
CHAS. E. ARNOLD, 2nd Vice-President	W. L. CHENEY, Asst. Cashier
WALTER KASTEN, Asst. Cashier
DIRECTORS
L.J. Petit	Frederick Kasten	R. W. Houghton	Oliver C. Fuller
Herman W. Falk	Geo. D. Van Dyke	Custave Pabst	Charles Schriber
Isaac D. Adler	H. M. Thompson	Patrick Cudahy
Wisconsin Trust Company
MILWAUKEE
CAPITAL	$500,000	־
SURPLUS 100,000 ־
OFFICERS
OLIVER C. FULLER, President	GARDNER P.STICKNEY, Vice-President
FRED. C. BEST, Secretary	R. L. SMITH, Assistant Secretary
DIRECTORS
L. J. Petit, Chairman Frederick Kasten R.W. Houghton Oliver C. Fuller Herman W. Falk	Charles Schriber Custave Pabst	Gardner P. Stickney
Isaac D. Adler	H. M. Thompson Patrick Cudahy
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The Market Chart Co. Issues an Optimistic Prediction for Still Better Times
everything else. Everything but evidences of debt, bonds, preferred stocks and other “gilt edged” securities. They must go lower. Creditors must suffer. Already signs are appearing of a great speculation in cereals next winter, and provisions are almost at record prices. The markets afford greater opportunities now than ever before to the conservative investor, but before going into them he must unlearn much that is now considered orthodox finance. This is a time for holders of securities to stop and consider. Underlying conditions have changed. Not to change with them spells loss.
Wants Latin-American Bank
The importance of having an American bank at Buenos Ayres is suggested by Minister Charles H. Sherrill, who writes that he finds a willingness on the part of the ten firms there who together import annually $32,000,000 worth of goods from the United States to buy their American exchange through a North American bank whenever it is established. The Minister also learns that the rate of exchange on New York City for the past five years (except for a brief period in one month due to the American panic) has invariably been cheaper than through Europe, which would assist the suggested bank to secure and hold that business. A memorandum showing Buenos Ayres rates of exchange on New York showed that it stood in 1907 at 103.5 on October 3d, at 104 on November 2d, at 105 on December 7th, and in 1908 at 104 on January 2d, 103 on January 18th, and 102.8 on January 25th.
V*
The Bank of Hartland (Wis.) increased its capital from $10,000 to $15,000.
The State Bank of Owen (Wis.) is to erect a new bank building.
Mr. Harriman’s health. Grave discussions are indulged in as to the effect of his taking off— as if it could really make any difference. The stock market got overbought and had to stop for breath. There was a little too much company on the long side. The public is not wanted yet. Later, when prices are very much higher, they will be welcome. In the meantime they will be shaken out whenever it is worth while to do so, no matter what happens to Mr. Harriman. We do not belittle his genius, but his part in American prosperity while a great one is only one of millions.
The same forces that will send stocks to unheard of prices will do the same with almost
There has been no real change in business conditions and tendencies for the past fortnight. Railroad traffic and earnings, the textile industry, boots and shoes and almost every other line show steady improvement. Iron and steel are booming. Railway orders are large and many for long deliveries. Bank clearings reflect continued growth. Crops are about safe and break the record for size, quality and value, a remarkable combination. Only cotton and copper seem to be the weak spots and these are more seeming than real. Cotton planters will realize almost as much money as last year from higher prices, and copper production is not likely to keep to consumption very long.
The money situation should cause no uneasiness. Interest rates are due for some further advance and will be decidedly higher next year, but just now reserves of gold in Europe are beyond all records and are still piling up and hundreds of millions of Aldrich-Vreeland money lies ready printed in the treasury. The fact that it can be issued almost at a clay’s notice will be sufficient to make such issue necessary.
We are in the midst of the greatest bull market the world has ever seen. A bull market not only in stocks, but in commodities of all kinds. An era of expansion and boom. The after effects of this boom will be serious, but they are too far away to worry about now.
Wall Street, just because it must have some bcte noir to play with, is greatly exercised about