[Volume XXVII
THE CHICAGO BANKER
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Operating the Savings Bank System whereby the carrying of Life Insurance becomes a means of saving money, and not an expense.
PIONEER LIFE INSURANCE CO.
PEKIN, ILLINOIS
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 o£ Chicago
Capital, Surplus and Undivided Profits $2,000,000
OFFICERS
David R. Fortran, 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
An Iowa Bank Looted
Mineóla, Iowa, Sept. i.—After “shooting up” the town yesterday afternoon, two men robbed the German National Bank of Mineóla, sixteen miles south of Council Bluffs, of $1,600.
When the men stopped shooting they separated, one going to the rear of the bank and the other stepping into the front door, pushing by Cashier Niff, who had been attracted to the front by the shooting. The second man then entered the bank and started to talk with the clerk.
Niff went back into his cage, and as he did so, the man who had pushed by him drew a revolver and, pointing it at his head, crowded in. Niff grappled with him, but the man jumped away, sprang into the cage and picked up a package of bills and stepped outside. While the man who had the money coolly stuffed it into a small grip, the second robber covered both cashier and clerk with his revolver. Then, bidding the bank men good day, the two robbers walked to the front door, closed it behind them, walked down the street and escaped.
Chicago Clearings for August
Bank clearings in Chicago in August were $1,-095,000,000, an increase of nearly 21 per cent over those in August last year. The clearings for the month were the smallest of the year except those of February, but the increase was the largest for any month of the year except that in June. For eight months of 1909 local clearings exceeded $9,000,000,000, the highest on record for that period in Chicago. The increase over 1908 was more than 18 per cent.
Elmer A. Clark
Elmer A. Clark, cashier of the First Bank of Vale, Oregon, visited Chicago recently and expects to return for the convention in September.
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Chandler, Okla., Bonds Stolen
Davenport, Okla., Aug. 21.—It was learned here to-day, that an express package containing $62,500 in bonds of the city of Chandler was stolen from the Wells-Fargo Express Co. at Sapulpa on the night of Aug. 9th. The bonds had been sold to the Oklahoma Bond and Trust Co., of Guthrie. Every effort is being made by the express company and the Chandler authorities to get some trace of the missing securities. The bonds aré payable to bearer, are properly signed and are negotiable. , ...
Increase in Savings Deposits
Springfield, III, August 28.—A big increase in the number of savings depositors in the 401 state banks of Illinois is shown in the statement of the earnings and dividends of those banks for the twelve months ending June 30, 1909, issued by Auditor of Public Accounts McCullough.
The number of savings deposits shown is 671.-330, an increase of 53,648. The average amount due each is $301.46, an increase over the year previous of $7.85. The statement further shows the capital of the 401 banks to be $49,815,000 on June 24, 1909, the surplus to be $27,339,406.87 on that date, and the undivided profits $11,250,-124, a total of $88,414,530. The total investments, consisting of loans, bonds, stocks and realty, were $462,248,104, and the total investments, consisting of that part of the reserve due from banks, was $96,605,660, making a grand total of $558,853,764.
The gross earnings for the twelve months ending June 30, 1909, were $28,427,536. The expenses, taxes and interest paid were $18,147,244, and the losses and reduction in value charged off were $2,230,276, leaving the net earnings $8,-050,276.
The gross earnings per total investments were 5 per cent; per capital stock, surplus and undivided profits, 32.15 per cent, and per capital, 57.06 per cent.
The net earnings per total investments were 1.44 per cent; per capital, surplus and undivided profits, 9.10; per capital, 16.15.
The expenses, taxes and interest paid per total investments were 3.24 per cent, and per total gross earnings, 69.83. The losses per total investments were .39 per cent and per gross earn-ings, 784־• Of the 401 state banks, 352 report dividends paid during the twelve months amounting to $5,140.200. These banks had in capital, surplus and undivided profits at the beginning of the period $87,364,626. Their percentage of dividends per capital, surplus and undivided profits was 5.88 per cent and per capital. 10.56.
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From State’s Attorney to Bank Cashier
Assistant State’s Attorney Ryerson, of Minot, N. D., with other parties from Mohall and Sherwood, N. D., has started a new bank in Medicine Lake, Mont., a new town thirty miles north of Culbertson, Mont. Mr. Ryerson will be cashier, D. Ray Gregg, of Sherwood, will be president.
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The Merchants Bank of Salt Lake City is to erect a new bank building.
Commercial Bankers
The Official Line-Up
The business, books and assets of the Bankers’ National Bank were moved on Tuesday night to the building of the Commercial National and the two banks opened for business as one Wednesday-morning under the name of the Commercial. The consolidated bank will have a capital of $7,000,-000, and surplus and undivided profits of more than $4,000,000. The combined deposits are about $68,000,000.
At the adjourned special meeting of the Commercial National Tuesday afternoon, eleven of the old directors of the Bankers’ were made members of the Commercial’s board and a new list of officers was elected. The official roster of the consolidated bank is as follows:
Chairman of the board—EDWARD S. LACEY.
President—GEORGE E. ROBERTS.
Vice-presidents—JOSEPH T. TALBERT, RALPH VAN VECITTEN, JOHN C. CRAFT, DAVID VERNON and ROBERT M. WELLS.
Assistant to vice-presidents—W. T. BRUCKNER.
Cashier—N. R. LOSCH.
Secretary—FRANK P. JUDSON.
Assistant cashiers—GEORGE B. SMITH, HARVEY C. VERNON, ERSKINE SMITH, CHARLES C. WILLSON, RALPH C. WILSON and E. M. LACEY.
Directors•—William J. Chalmers, Robert T. Lincoln, E. H. Gary, Darius Miller, C. F. Spalding, W. V. Kelley, R. H. McElwee, Alexander F. Banks, E. P. Russell, Alfred Cowles, Eames MacVeagh, Joseph T. Talbert, Ralph Van Vech-ten, G. E. Roberts, M. H. Wilson, Michael Cudahy, D. H. Burnham, R. C. Lake, C. H. Weaver, Charles T. Boynton, Francis A. Hardy, J. W. Stevens, Herbert F. Perkins, Edward S. Lacey and J. C. Craft.
The eleven last named were directors of the Bankers’. Robert M. Wells is the only one of the old Bankers’ directors not elected to the Commercial’s board. He was made a vice-president.
The consolidation of the Bankers and the Commercial was effected virtually on plans laid out by J. T. Talbert, who took the matter up several months ago.
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H. B. Noyes, Jr., was elected vice-president of the Mystic River National of Mystic, Conn.