31
CHICAGO BANKER
THE
October 2, !pop]
At Par and Accrued Interest
*
president and Harris, chairman of the board. This is their certificate of election.
which is both dignified and just. No one is afraid that they will select an erratic freak, for they have too much at stake. Furthermore, they have too many good candidates in sight. If any one thinks the conservative gentlemen on the council can be stampeded by a correspondence school campaign by some one they never heard of before—well, he will know better after Decatur.
Q Y. WHITLOCK, secretary of Group Six, O. living at Tuscola, is proving to be a strong candidate, based chiefly on his record in building up the “backward group.”
Here is a little piece of one of Whitlock’s missionary efforts in his group territory:
“I realize that in presenting this proposition the association occupies, one might say, a threefold aspect to you, that is, there is the association as you think it is, the association as I think it is, and the association as it really is. Out of these three elements, which we hope to harmonize and unify, we can certainly agree upon some minor points. If so, we are progressing. For the purpose of more readily adjusting ourselves to a common belief you accept some of my theories and I’ll accept some of yours.”
,
into the race by his friends. He’s a good man and the choice broadens.
־ -
delightful of all the old-school orators in the country. Illinois bankers are to be congratulated. The Bond Man.
Adding to Chicago’s Stock List
When U. S. Steel is listed, say Hornblower & Weeks, the Chicago Stock Exchange will include the stocks of the largest earning industrials existing, Swift & Co. and Harvester will share that honor with the recently listed American Tel. & Tel., and Steel will complete the select company. Except Standard Oil, which is as yer a curb stock, no other industrials show such earnings. Steel capitalized for $508,000,000 in common and $360,000,000 in preferred will earn $600,000,000 gross this year. Harvester capitalized at $120.000,000 divided equally among preferred and common earned $78,000,000 gross in 1907 and $12,000,000 net in 1908. Swift sales are more than $250,000,000 and its stock $60 -000,000. Telephone has outstanding $222,000,-000 and the holding company receives in interest and dividends an amount which brings total earnings to $127,000,000. Steel and Telephone are also among the most active of industrial issues, providing with Amalgamated Copper more than 70 per cent of the trading in industrials.
You can Take Your Choice
London, September 25.—A curious protest was made this week against the employment of women clerks in the Bank of England. One of the shareholders raised the subject at the half-yearly meeting of the court of governors.
“They should not be here,” he said. “They ought not to be in this establishment. They cannot keep a secret. You know they cannot. It is impossible.”
“I cannot think the speaker is right,” said R. E. Johnston, a governor, “in saying women clerks should not be employed at the bank. They are well adapted for the work they have to do.”
affect the political chances of postal savings banks in any degree, while it will prejudice their influence with the people when the time comes to institute the great reforms that are to modernize and to render scientific our national system of finance.
GEORGE W. MILLER, Seattle manager for the Winton Company, has received a special summons from the Canadian government at Quebec to appear before the government officials at Vancouver, B. C., to present information in detail and quote prices on three Winton Six cars for use by the Canadian government officials.
MAJOR SEWALL S. FARWELL, president of the Monticello National, who died last week was one of the best known bankers in the state. He was an officer of the bank for 33 years. He had been a state senator, collector of internal revenue, and served in congress. He filled many positions of honor in his own community. He served in the war with great credit, retiring with the full title of major. He was a leader of men.
ONE of the fears expressed by those who distrust the policy of establishing a central bank of issue in this country is that the bank might fall into the hands of some strong group in Wall Street who would make it the instrument of monopoly.—Wall Street Journal.
FINE ARTS JOURNAL, Chicago, has reproduced the splendid mural paintings in the Central Trust Co. Bank, and Wm. R. Dawes is complimenting friends and patrons with the splendid copies.
MOECRETARIES’ section” sounds good, looks O good and is good. Now let some friend of the down-trodden put in the amendment. It is none too early. Let it stipulate that the president of the section (happens to be Mr. Keyser) be on the big council and that all the secretaries be delegates-at-large from their states to the A. B. A. convention. They are the best fellows in the world and the state and national bodies really need a connecting link. Auch, Louie? This is the year to do it. Recruiting offices would be always open in every state and new members for 1910 report could be counted in blocks.
BANK loans to speculators, in New York, are so large and stock prices are so high that bankers are opposed to having the Stock Exchange closed on business days. Things might happen to render quick action desirable.
it A COMBINATION has been formed to hoist *V the Chicago Banker out of business,” said a western malcontent, not liking that paper’s opinion of a likewise nameless entity and referring to his subsidized Eastern friends. We don’t mind, not the least, but suggest that “lifting” promissory notes is good exercise for other kinds of lifting and hoisting.
ON that boat to Gary, under Skipper Benedict, a lot of nice things were handed out liberally. The Central Trust gave away a fine folding, pocket mirror, and Gates set one afloat for Cashier which was ten days getting into port. Corneau still is carrying that knife which the Western Trust forwarded in his care—care only.
BF. HARRIS of Champaign, “the next chair-• man” of the Illinois bankers executive council, as every one concedes, was in Chicago this week, not looking after his fences, but after the plans of their new six-story bank building. Tt is to be “the finest, etc.” of course. Nothing else would suit B. F. His election at Decatur is accepted as settled and the T. B. A. is to be congratulated.
(TT A re \)ou going East ?
'״■V/lre you going West ?
Are you goingyJnywhere?
If so, purchase our
American Bankers Association Money Orders
Good at Hotels, Stores and Banks No Identification Required
Convenient Denominations
The First National Bank
St. Joseph, Missouri
THE welfare of depositors and the security of their deposits has always been the chief concern of the Haverhill (Mass.) National. The figures of surplus and profits are always interesting from the depositor’s point of view. The statement within, as: made to the comptroller of the currency, suggests at once safety, together with satisfactory service.
BEFORE any concern can claim high rank in the business world, its stability must be proven by the test of time. In the banking world, no less than in other lines of business, time is the test of strength. This bank has had an unbroken history of forty-six years of successful business, and is now serving its second generation of Fort Wayne customers, many of whose names have been on our books continuously during all these years.—First National, Ft. Wayne.
CLOSE to a million in deposits, is the Union Stock Yards State Bank. This proves the idea, as well as the selection of officers, to have been good. W. F. Doggett is the cashier.
EJ. HUGHES, First National, Milwaukee, • can tell you which banking paper “covers Wisconsin” if you ask him. He has the documents to show for it.
T OSEPH WAYNE, JR., Philadelphia, sends »J out his last statement on the same modest folder as of yore. The deposits of the Girard are forty and one-half millions, and he can afford to be modest.
WE respectfully beg to announce that the First National Bank of Sharon (S. C.) is open to transact banking in all its branches.—A. M. Lladdon, Cashier.
WITH confidence in its ability, and a desire to give its customers an agreeable and profitable connection, The National Stock Yards National (111.) solicits every form of St. Louis Stock Yards business, and declares the following statement of condition at the close of business, September 1, 1909.
CITIZENS STATE BANK OF CANNON FALLS, Minn., opened for business in 1905. Its first statement, March 14th of that year, showed total deposits of $191,679.99. On September 1, of this year, this bank reported deposits of $563,450.00. To this Cliff W. Gress, cashier, “invites your attention.”
FINE courtesy in Mr. Roberts to place Mr.
Lacey’s name over his own in the new stationery of the Commercial National. Deposits $67,000,000.
CL. D. The president did not say the Payne • tariff bill is “a good bill” nor did he say he “liked it.” All he said was that it is the best tariff bill the Republican party (not congress) ever passed. Note carefully and perhaps you can agree with him after all.
Here’s another “straw,” this time from the Minneapolis Journal: The bankers will commit a tactical error if they range themselves formally against Secretary Meyer’s proposal of postal savings banks. Bankers’ opposition will scarcely