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THE CHICAGO BANKER
September 4, 1909]
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view on Sunday. The score was a tie at 27 holes.
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tions made available by consolidations and by new buildings. One of the talked of vice-presidents, when asked about the chance to start a new bank, said: “Give me the names of five good men who will go on the board and I can place the stock by telephone.”
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other cities. Another reason is the reputation of Chicago for safe, conservative banking, with a clearing: house which is a guaranty system in itself. Chicago is growing in banking power and prestige. Bank stocks have made money and bank failures do not happen any more.
in the 31 state banks sell at $190, and all dividends average about four per cent. This looks good and accounts in a measure for the willingness of investors to go into new banks.
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when needed, that he offers $ooo reward for a proper, legal introduction. Why do not some of the A. B. A. detectives who claim all arrests made, call down some of these rewards? Why?
pEORIA has a national, the First, which was * No. 176 when first incorporated, and never changed an officer in all these years, except in case of death. But 63 of the original 173 now are in business. The Stones have been in the management since its foundation.
section is president, is opening an office^in Chicago to handle all its western business, and it is for that purpose that Mr. Hanhart will come to Chicago a week before the convention. The Chicago office will be in the Chicago Savings Bank and Trust Co. building. Within the last few weeks, thev have received additional licenses for Missouri, South Dakota, Rhode Island and Maryland.
green cloth covers, with gold embossed medallion. Besides the minutes of Wrightville Beach meeting, the book contains a list of the membership and the names of all attendants, guests included, at the June convention.
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Philadelphia. W. P. Venable is listed in the same capacity for the National Copper Bank, N. Y.
cartoon from the Chicago Daily News, touching so cleverly upon the Fowler-Cannon episode. Mr. Bradley doesn’t require anv touting, as some artists do. His pictures do his great paper full honor.
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in fulsome flattery at so much per line, written by puff editor. Guess again?
Cashier,
have taken place, and those to come, serve to still further concentrate holdings. Chicago bank stocks are as readily convertible into cash as a certificate of deposit. Why not take advantage of the better interest yield and natural increase? If the certificate of deposit is safe, stock in the bank which issues it must be.”
THIS comes from an old friend and worker in the A. B. A. ranks: “I noticed in the last issue of The Chicago Banker what you are saying about my old friend Livingstone. He is an A No. 1 man and will be a credit to the position should he be elected,■ and from what I hear, I think his election is quite likely. I can assure ■ you that Mr. Livingstone will appreciate the good words you are saying about him.”
ANEW western banking paper about the size of a postal card announces an editor and two associate editors. You remember the tip we gave you about the “associate editor” and “vice-president” being mere pulling titles for a 40 per cent commission canvasser. The tip may save you some money.
NATIONAL City Bank of New York is to be congratulated upon the accession of T. Ogden Armour to its directory. Mr. Armour has just been elected to the board. His membership was solicited by James Stillman.
J OGDEN ARMOUR is the only out-of-town • member of the board of the largest bank in the country. He has been a stockholder in the institution for years. Gradually and quite involuntarily he has become an executive of important corporations other than those with which he is directly identified.
UNION Trust Co., Chicago, has put up its capital to $1,200.000, paying up the $200,-000 out of surplus. This is a clear 20 per cent melon, and the surplus remains $1,000.000. Deposits are approaching fifteen millions.
TIPTON, Indiana, still is in the lime light. At first it was thought one man did all the stealing, but it was a family affair. At least one alleged millionaire bank president comes to the surface who has been just a common thief and not a Sunday school superintendent in combination.
LAWSON certainly timed his attack upon the market well this time. The news from Arden couldn’t have been more to his purpose if written to order. The real public isn’t in it.
OH, joy! We are to receive the “Burroughs” —house organ—free of charge.
MISSOURI is to celebrate the complete victory of Col. W. F. Keyser over the national and State banks of the state. The last straggler has surrendered and fifteen thousand pumpkin pies are to be served at Independence, Mo., the two items to be co-related in your mind only.
OF all fakes the loudest! A New York banking paper publisher is after typewriter and adding machine advertising on the ground that — — of—La Salle Street. Chicago (his representative), is “on the committee of arrangements” for the A. B. A. convention and can secure exhibition space for them. Only the hotel people can furnish such space and so far they are averse.
THE man on La Salle is “out” when the supply men call and they then come over to this office for “information.” The “information” in such cases should be filed by the state’s attorney.
IF the financial and city editors of Chicago cared the least bit about accuracy of statement they would cease at once to print it “national bankers convention” when referring to the American Bankers Convention. The American Bankers Association is a composite of state, national and savings banks and trust companies and to call it the “national” bankers association is misleading.
AN inquirer wishes to know the relative mar-. ket values of the shares of the leading St. Louis banks. They are approximately: Mercantile Trust, $335; Third National, $330; Mechan-ics-American, $298; St. Louis Union Trust, $393, and National Bank of Commerce, $231.
ONE J. S. Sherman, formerly “Sunny Jim,” but now our distinguished vice-president, writes us that he does “not expect” to attend the Chicago convention, even in the face of the trust company and of the program. Perhaps he thinks Taft and Murray will be enough governmental big guns ?
AN Associated Press dispatch from Washington, D. C., read: “Western banks and those of the interior generally are overflowing with money. They can get along with little aid from eastern banks. This is the view of Acting Secretary Norton of the treasury department, who has just returned from Beverly, where he had a conference with the president.”
CHARLES G. DAVIS, president of the Central Trust Company, was 44 years young on August 27th. Mr. Dawes, whose home is in Evanston, is a native of Marietta, O., and a graduate of the Cincinnati Law School and was comptroller of the currency from 1897 to 1902.
I DESIRE to respectfully inform you that I have withdrawn from the position of assistant to the president of the National Produce Bank of Chicago, and from the first day of September, 1909, will act as cashier of the banking house of R. I. Terwilliger & Co.,' Division Street and Ashland Avenue, Chicago. Should business or pleasure bring you near to my new location I would deem it a personal compliment if you will permit me the pleasure of meeting you. Very truly yours,	Frank Collins.
AMONG the special lecturers in the Northwestern University School of Finance are G. B. Caldwell of the American Trust: Chas. W. Folds, of Hathaway & Co.; D. R. Forgan, National City Bank; Geo. M. Reynolds, of the Continental National, and George E. Roberts, of the Commercial National. Among the registered students are hundreds of bank clerks and chapter men. The opening for 1909-10 will be on September 30th. University building, Lake and Dearborn streets, Chicago.
IF you are not pleased with your hotel prospects for the A. B. A. convention, in Chicago, write to any one of the following:	August Blum,
chairman; W. T. Perkins, vice-chairman: J. R. Washburn, C. S. Castle, G. B. Smith, H. W. Brough, James M. Hurst, J. G. Wakefield, F. A. Crandall, L. A. Goddard, Frank P. Judson, Colin S. Campbell, W. W. Gates, F. G. Nelson, G. A. Ryther, John Fletcher, Addison Corneau, Calvin F. Craig, W. S. Van Buskirk, or F. B. Woodland.
DUDLEY A. TYNG & CO. say that “Chicago bank stocks are going into strong-boxes, and the floating supply of stock is being continually cut down. The consolidations which