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 W 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, III.
			
sary to reprint the $500,000,000 of “emergency currency” which has been thus far the sole result of the Aldrich-Vreeland law, and which is still stacked up at great expense for storage in the vaults of a Washington trust company, there being no room for the bills in the department itself. The cost of printing 1,000 sheets of currency is about $44, and there are four notes on a sheet. One thousand pieces of currency of the present size, therefore, cost about $11. The national banks would have to have entirely new plates for their currency, or certainly for some of it, and it would probably require several years to carry through the process of changing the sizes.
S. B. Rankin
Secretary Rankin of the Ohio Bankers was in the city this week and was fortunate in securing a headquarters room at the Auditorium for his delegation. In this feature alone the Chicago convention will surpass its predecessors. The promised attendance has been growing to huge proportions and the room reservation clerks are working over time.
St. Joseph Banks Swindled
St. Joseph, Mo.—Eight banks here were swindled out of $4,000 to-day by two crooks who presented what purported to be certified checks from a St. Louis bank, but which proved to be bogus. The swindlers escaped. Their scheme was to deposit the bogus checks and draw a part of the amount of their face in cash.
J. Mack Glenn
A new and well qualified man has been named as a probable candidate for the Chicago census supervisorship, J. Mack Glenn, secretary of the Illinois Manufacturers Association is a trained newspaper man, well versed in local conditions and understands the industrial situation .as no other can. He would be an ideal, safe and up-to-date selection.
"i
W. G. Weeks of Delavan is interesting the people of Lyons, Wis., in the establishment of a bank.
The State Bank of De Pere, Wis., elected the following directors:	John Hockers, Robert
Crabb and D. H. Gregory.
cars to take care of the bankers, leaving Cleveland at 10:45 p. m. on Sunday, September 12th. The bankers will be accompanied by D. J. Coll-ver, district passenger agent of the New York Central Lines, who will see that they are well taken care of.
To Move in New Quarters Soon
The finishing touches are being put on the handsome new banking room of the Provident Savings Bank & Trust Company, Cincinnati, at Seventh and Vine streets, and the officials expect to move from the present quarters shortly after the first of the month. The banking room to be vacated by the Provident, in the chamber of commerce building, is the same one in which the Union Savings Bank and Trust Company was started and from which it moved into its present structure, at Fourth and Walnut. When the Provident moves it will be the second savings institution to have started and become successful in those modest quarters.
Enjoying Vacations
Harry Punch, of the German National, Cincinnati, has gone to St. Paul, where he will meet a party of friends and leave there on Saturday for Vancouver and Seattle, returning via Yellowstone National Park.
J. R. Edwards, manager of the bond department of the Fifth-Third National, Cincinnati, is on a three weeks’ vacation in Michigan.
V*
Seriously Considering Change of Bank Notes
Washington.—Assistant Secretary Norton of the treasury department, who has been at Beverly for consultation with the President on matters affecting the department, is stated here to be considering with the Executive the plan which has been suggested by the authorities for altering the size of the bank notes and other forms of currency so as to correspond to their denomination—the small bills to be small and the large ones larger, etc. The plan is seriously under consideration, and it is believed that steps will be taken in the near future toward ascertaining how it will work. It has been submitted already to several leading bankers and has been commended by them. Among these bankers is James B. For-gan, president First National, Chicago. Others agree with him in praising the scheme.
In connection with the proposed scheme it has occurred to the authorities, however, that in the event of the adoption of the plan it will be neces-
Ohio Banking News
(Continued from page II) tion tax law which is part of the new tariff bill. They point out that it is inequitable in its provisions in that it compels corporations to pay a tax to the government while individuals engaged in the same business go free. T. C. Stevens, vice-president of the Second National, says that the law places the corporation at a big disadvantage as compared with the private firm. “As an illustration,” said Mr. Stevens, “take the case of the wholesale grocers in Toledo. Under the law Berdan & Co. and R. A. Bartley escape the tax, as they have escaped the Willis state corporation tax, while the Dow-Snell Company, the Church & McConnell Company, the Paddock-Overmeyer Company and the Feilbach Company must pay to the government 1 per cent of their net income. In every line of business the same condition obtains, and the effect of the new law will be the surrender of thousands of corporate charters throughout the country.”
“Another manifest inequality in the law is shown in the case of two corporations having practically the same amount of capital invested in their respective enterprises. The capital of one is, say, $200,000, while that of the other is $100,000, with an outstanding bond issue of the same amount. Under the new law the interest on the bonds is deducted from the gross amount of the income before the net income is computed, thus relieving the company of paying a tax on its bonds, which are virtually capital stock.” Former Bank Clerk Dead
W. Scott Berry, 55, a former well known bank clerk in Cincinnati, died at the home of relatives in Jeffersonville, Ind., last week. Mr. Berry was formerly draft clerk for the old Third National, and when the Fidelity Bank was organized occupied the same position with that institution. For the past 10 years he was bookkeeper for the Express Gazette Publishing Company.
Cleveland to be Well Represented at A. B. A.
It is very likely that Cleveland bankers will be very well represented at the convention of the American Bankers Association which meets in Chicago the week of September 13th. The nearness of the convention to Cleveland will make the attendance quite large. Nearly all the banks will be represented by at least one member of the official family, and some of them will have several members present. Those who expect to put in the entire week in Chicago will leave Cleveland on Sunday night, September 12th. The Lake Shore & Michigan Southern will run some special