[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
ooo from the banks before March I, 1910. It will have to pay 5 per cent. The revenue fund has its annual deficit and must be met. In March the railroad gross earnings taxes are due when the treasury will be refilled. Last year the banks charged 4 per cent. This year they will make it 5 per cent.
On Hunting Trip
F. A. Chamberlain, president of the Security National; W. H. Dunwoody, president of the Northwestern National, and E. W. Decker, vice-president of the Northwestern are at Moose Jaw, Sask., hunting with A. R. Rogers, a bank director and lumberman. They will return the latter part of next week.
Visits Minneapolis after Many Years
J. Frank Supplee, vice-president of the United States Fidelity-& Guaranty Company of Baltimore, has been in Minneapolis for the first time in twenty-one years, since president was nominated in the old Exposition building. He was astonished at the growth of the city.
Start Legal Action against Receivers
W. R. Gilliam, formerly general agent in Minnesota for the American Guaranty Company, obtained legal action in South Carolina against the receivers. This may mean that Minnesota contract holders will get their money back. The receivers’ appointment, it is understood, was
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
to the bankers of the state, that to keep young people on the farms this must be done. Cease holding up city people as ideals; get the idea out of the heads of country school pupils that they are to be physicians, lawyers, or merchants; teach agriculture in the public schools of the country districts; create pleasanter home surroundings and build better roads.
Some Answers
Information obtained by this Minnesota country life commission is of interest to bankers generally as it is compiled by country bankers right on the ground.
Some of the observations are as follows: T. E. Nash, Pipestone State, covering second district—decreasing tendency to leave farms in Pipestone county; city trend marked in seven other counties; in less degree among children of German descent in Blue Earth.
M. J. Dowling, president Olivia State, conditions in seventh district similar to second.
W. A. Shaw, president Clearwater State, in sixth district it pays to educate pupils in agricultural work; high school Cokato doing good work; in Wright county 50 per cent young people educated in agricultural work are so engaged; farm institutes good thing, yet tendency is citywards.
C. E. Oakley, Oakley State, Buffalo—Young people inclined citywards. E. H. Sherwin, cashier State of Monticello—Tendency not alarming, proportion of rented farms 5 per cent. C. L. Atwood, president Security State, St. Cloud— Public schools in country districts deficient, nearly every child permitted to harbor idea of becoming something else than a farmer; sentiment growing to send young people to agricultural schools; 10 per cent farms rented; 75 per cent of road tax is wasted. W. E. Parker, cashier Merchants’ National, Wadena—Distinct city trend due to lack of educational advantages and pleasant home surroundings.
State to Borrow from Banks
Possibly the state may have to borrow $1,000,-
The special committee of the Minnesota Bankers Association is beginning to find out why the people leave the farms for the city. At the last convention in July the state association decided to push the people back to the farms or to find out what’s the matter with Minnesota that there are not more farmers. The bankers decided to show up the state in all its fertile glory to the general public—in other states. The committee to find out the causes of farm abandonment was made up of Joseph Chapman, Jr., Minneapolis; W. I. Prince of Duluth, the state president; L. A. Huntoon of Moorhead, the vice-president; C. C. Power of St. Paul, W. E. Lee of Long Prairie, A. G. Wedge, Jr., of Bemidji, which with Secretary C. R. Frost took up the investigation.
The committee found out, that is, with the replies only starting to come in to letters mailed
/ 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
Surfas, $1,000,000.00
Caftai, $600,000.00