[Volume XXVII
THE CHICAGO BANKER
12
Bank Examiner Winner in Land Drawing
R. F. Kendrick, deputy state bank examiner in the new state department, also a deputy for several years under the public examiner, was a lucky winner in the recent drawing for land in the Flathead reservation. Mr. Kendrick will have his son look over the land and if it proves to be good, Mr. Kendrick will resign his position in the banking department and go to farming.
Indorses Position Taken by Minnesota Bankers
George Welch, commissioner of immigration in Minnesota, indorses the position taken by the bankers that Minnesota is not well enough advertised and that they must agitate for the better settlement of the farm lands in the state. Mr. Welch writes Chairman Joseph Chapman, Jr., of the bankers association special committee:
“I believe in this matter you have accomplished one of the best results for the state of Minnesota that has ever happened. It seems to me that the different interests of the state have been wasting their energies and money combating each other. For instance, a man trying to sell land in Kittson county, Beltrami, or St. Louis county, is in direct conflict with persons trying to sell land in Redwood or Lyon county.
“The prospective settler, not knowing the circumstances, and being canvassed by both sections, does not know where to go. You will un-
GRAHAM & SONS
Bankers
Steamship & A Insurance AgCtlZS
Established 1857—52 Years
Interest on Deposits — Accounts Solicited Money to Loan on Real Estate
Open Evenings — Hours 9 a. m. to 9 p. m.
134 WEST MADISON STREET, CHICAGO
ing holdup man in which he and one of his pursuers was killed.
Bank Clerks Closely Watched
That bonded bank clerks are being closely watched in the Twin Cities has been divulged by one of the agents of a bonding company, Wirt Wilson, member of the firm of Wilson & Force. Mr. Wilson does not say whether there has been unusual activity following a recent defalcation or two, but intimates that all the time the clerks are under espionage as to their habits.
Mr. Wilson says: “Yes, it is true that all the large bonding and guarantee concerns have their own individual corps of spotters and detectives all over the country, ever-vigilant, scrutinizing their subjects and submitting regular reports as to their habits and associations.
“This is very necessary when you consider that the embezzlements for one month—the month of May—have aggregated the gigantic total of $868,340 for the country as a whole.
“Bonding is assuring an intangible property—־ a man’s honesty—and if a bank cashier, or other officer of trust, is playing the markets or tempting fickle fate through the medium of the colored pasteboards, very naturally and properly we want to know it and to protect ourselves and his employers by getting off his bond and notifying his company.
“Therefore it becomes apparent that a perfect organization to furnish the information is a vital necessity. Our spotters here in Minneapolis submit reports at regularly stated times, covering all bank risks and other financial institutions, while minor risks, such as the average office clerk, are held under the strictest surveillance though not subject to report save in times of stress. In the case of the banker it is like putting all the eggs in one basket so we keep pretty thoroughly posted.
“Because an officer is bonded does not imply that he is dishonest or likely to prove so. It means simply that his employer, being prudent, intends to take no chances.”
Immediately upon the departure on his vacation, by C. R. Frost, secretary of the interstate protective association, the Northwestern yegg-men renewed their attacks on the safes of banks belonging to the state and interstate associations. The first attack was on the State Bank of Karlstad, Minn. The robbers got $1,500 and got away. The second was upon the Twin City State Bank, which is in the immediate vicinity of Mr. Frost’s home. The attack had more significance in that it was the first recent attempt at robbing a Twin City bank safe. The burglars cut through the wall from an adjoining office and blew the safe. They got $40 in pennies and nothing from the safe, which contained $2,000. The cashier’s revolver was taken also. The burglary follows upon the holdup of the bank at White Bear, a suburb of St. Paul. The holdup was followed by a systematic attack upon the escap-
If Your Vacation
should lead you to or through Pittsburgh, the officers of this Bank will consider it a great favor if you will call and allow them to show you the points of interest in our city, or to add in some way to the pleasure of your visit We hope that bankers everywhere will consider this a personal invitation.
/COLUMBIA !®NATIONAL | BANK
OF PITTSBURGH
Depositary oj
United States, State of Pennsylvania, City of Pittsburgh