[Volume XXVII
THE CHICAGO BANKER
12
FISK	ROBINSON
BANKERS
Correspondence invited regarding Government, New York City, Railroad, Municipal, and Corporation Bonds
Members of the New York Stock Exchange
Commercial National Bank Building
NEW YORK	CHICAGO	BOSTON
Western Trust and Savings Bank
Chicago, Illinois
Capital, One Million Dollars
ESTABLISHED 1873
Is thoroughly equipped to handle all business pertaining to banking and invites the accounts of banks, corporations, firms and individuals
are new in this territory. Two of the recent jobs clone in Minnesota are by professionals and we expect to get them. In practically every instance we effect a capture of the criminal. One of our detectives arrested eight yeggmen in the last six months. The yegg belongs to a distinctive class. He would not rob an ordinary house. The men travel in gangs of three to five members. They usually reconnoiter in a community for some time. The one who goes into town to learn the lay of the land is called a 'gay cat.' "
Benefits and Possibilities of Association Work
The Northwestern National Bank Review, in its September issue, has an article on “Benefits and Possibilities of Association Work” in which the office of the several associations is described. After writing at length on the work accomplished by the state and national banking associations, the editor continues:
“While great things have been accomplished, these various forms of organization are only at the beginning of their usefulness. Those interested in the local clearing houses will readily find means to employ the machinery of the organization in ways of value to the members. The development of a system of check upon the operations of large borrowers, in which neighboring clearing houses can join, is an opportunity for improvement. State associations need not confine their work and influence exclusively
GRAHAM & SONS
Bankers
Insurance & Agents
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
will supply two of the largest office buildings of the city with banking facilities and will afford the same accommodations for the wholesale, hotel, and theater district, which are now outside the banking center. Additional capital is to be obtained by the bank, it is said, with possible changes in the director and official list at the next election.
Exchange Rate Conference
Following a conference with bankers from Grand Forks and Fargo, N. D., the Duluth bankers abolished an exchange rate of 50 cents a thousand on grain drafts coming from the smaller Northwestern banks through the Grand Forks and Fargo banks. The bankers of North Dakota became indignant over the charge declaring that it was an attempt of the Duluth bankers to compel the small banks of North Dakota to carry their deposit lines there instead of at the two large cities of the state. D. H. Beecher, W. S. Titus, and R. C. Kittel represented Grand Forks and F. A. Irish, and R. S. Lewis, the Fargo bankers. Had the conference failed the North Dakota banks planned to send a representative to Duluth to cash all North Dakota checks, and ship the actual currency from Duluth to Fargo and Grand Forks as a retaliatory measure.
Explains Cause of Recent Bank Robberies
Explanations are being made by C. R. Frost, manager of the Interstate Protective Association of the banks of five Northwestern states, as to why the yeggmen are at work again on the country banks. Instead of assuming the responsibility and charging it up to his: short vacation Mr. Frost says that the renewed activity is due to longer nights, which give the yeggman better opportunity; and harvest time, which fills the banks with money.
“We have five detectives out on different cases of bank robberies now,” said Mr. Frost. “My opinion is that these men who just made the attack on the Wayzata bank near Minneapolis
Negotiations have been started for a new banking house for the Minnesota National. It will take quarters on the ground floor of the Lumber Exchange, 64 feet square, with forty-foot ceiling. The room will stand between the two wings of the building, covering the floor area of the light well. The bank will be reached by direct entrances to the building from two main business streets. The changes in the Lumber Exchange to accommodate the bank and the equipment of the new quarters will cost at least $50,000. It will be several months before the removal of the bank from its present place of business can be effected. Incidentally the bank will take over the safety deposit department of the Lumber Exchange Company and operate it for the use of its customers. In making its move the Minnesota National will go two squares out from the banking center. It
/ 5 Carloads a Minute
is the estimated amount of Pittsburgh’s mine and mill products. The financing of these immense industries gives Pittsburgh banks a large earning power. Because of its large volume of business and extensive connections, this Bank can offer attractive inducements to banks and trust companies everywhere to establish connections with it.
Correspondence Invited
OLUMBIA
NATIONAL
BANK
OF PITTSBURGH
Surplus, $1,000,000.00
Capital, $600,000.00