[Volume XXVIJ
THE CHICAGO BANKER
10
The Wisconsin National Bank
OF MILWAUKEE
CAPITAL -	$2, OOO. 000
SURPLUS 1,000,000 ־
OFFICERS
LJ. PETIT, President	HERMAN F. WOLF, Cashier
FRED’K KASTEN, Vice-President	L. G. BOURNIQUE, Asst. Cashier
CHAS. E. ARNOLD, 2nd Vice-President	W. L. CHENEY, Asst. Cashier
WALTER KASTEN, Asst. Cashier
DIRECTORS
L. J. Petit	Frederick Kasten	R. W. Houghton	Oliver C. Fuller
Herman W. Falk	Geo. D. Van Dyke	Gustave Pabst	Charles Schriber
Isaac D. Adler	H. M. Thompson	Patrick Cudahy
Wisconsin Trust Company
MILWAUKEE
CAPITAL $500,000 ־ SURPLUS 100,000 - ־ ־
OFFICERS
OLIVER C. FULLER, President	GARDNER P.STICKNEY, Vice-President
FRED. C, BEST, Secretary	R. L. SMITH, Assistant Secretary
DIRECTORS
L.J. Petit, Chairman Frederick Kasten R.W. Houghton Oliver C. Fuller Herman W. Falk	Charles Schriber Gustave Pabst Gardner P. Stickney
Isaac D. Adler	H. M. Thompson Patrick Cudahy

WISCONSIN
NEWS LETTER
By Mortimer I. Stevens
MILWAUKEE
the guaranty fund of the banks. It is only a case of one bank backing another.
“One error in the law is that banks are assessed for losses according to capital stock instead of the amount of their deposits.”
Mineral Point Bank in Trouble
A shortage aggregating, according to President Calvert Spensley of the First National, of Mineral Point, possibly $400,000 has been disclosed in that institution. Vice-President Phil Allen, Jr., who rests under the imputation of having forged notes to that amount, though no warrant had been issued up to Tuesday night, is reported to be dying at his home.
The news was made public after a directors’ meeting held Monday night to determine upon some means to prevent a formal closing of the bank’s doors. So far there has been no run upon the bank and it is thought that it will successfully weather the storm.
President Spensley is quoted as saying “that not until a week ago when the bank examiner came for a longer stay than usual was there any hint of shortage. Even then we thought that his stay was merely for a closer checking up of the bank’s securities than usual. The examiner’s attention was first called to the condition of the bank when he was looking over some notes purporting to be signed by well known business men of the county. There was a similarity in many of the notes and he called upon Mr. Allen for an explanation.
“According to the examiner Mr. Allen admitted that he had forged the names of these men
Says “Bank Law is Too Young”
At least one member of the Wisconsin special legislative committee has spoken—unofficially, William Reader, who visited Oklahoma as a member of the committee, is of the opinion that the bank guaranty law of Oklahoma is too young to have bared all of its mistakes.
“Evidently they were prepared for our coming,” said Mr. Reader, “as the day after we arrived on the ground the largest bank in the state failed. As yet we are unable to give our opinion of the value such a law might have. We found that the people have confidence in the banks as a result of the law. However, the law is too young to show' up all of its weaknesses. People from the states surrounding Oklahoma deposit their money in Oklahoma as they think that it is protected by the state. However, this is a mistake, as the state is only a custodian of
“Milwaukee business men and manufacturers throughout the state have not been carried away with the ‘wave of prosperity’ cry and are rather inclined to be conservative and on the safe side,” is the way M. A. Graettinger, cashier of the Merchants and Manufacturers’ Bank, of Milwaukee, sums up the business situation.
“On the other hand,” continued Mr. Graettinger, “Wisconsin manufacturers are preparing for a splendid trade in all lines this fall as apparently they are justified in doing by the orders on hand. This talk, however, so often heard upon the streets, of manufacturers being ‘flooded with orders’ may be taken with more than the customary grain of salt.
“Before the season wanes it is more than probable that a number of our manufacturers will extend their plants. Loans are being talked of and in a few instances actually negotiated but all banks are inclined to exercise a restraining hand wffiere loans are wanted for this purpose, preferring to be able to look a little further into the situation before taking on a lot of paper of this nature.
“Our currency shipments to interior points of the state indicate a healthy condition among the country people. The grain movement will be heavy and probably a little more crop money will "be necessary than for former years. The barley movement in some parts of the state will require considerable cash when the brewers commence to buy as also the tobacco crop. Wisconsin bids fair to have a prosperous year and one may much better be an optimist than a pessimist at all events.”