17
BANKER
THE CHICAGO
October i6, 1909]
CUAPTEE ISEC01P
(Department of Chicago Banker)
An Open Forum Dedicated to the American Institute of Banking in Which to Advance the Great Movement for Systematic Education and Universal Membership
alty.” E. J. Lyons, of the First National, gave an account of his trip to Seattle. F. J. Lowe, of the Union, sang, with Mr. Farbach at the piano, and Edward Seiter, of the Fifth-Third National, told about the convention of the National Association at Chicago.
The whole affair was delightful and a satisfactory introduction to the new quarters to the members and their friends. The rooms are accessible at all times, and it is the wish of the local body that bankers from the surrounding towns take advantage of the opportunities afforded for meet-
J. S. Aisthorpe
Mr. Aisthorpe is one of the “big ones” in the Illinois Association, having been on the council for many years, and always a worker in the
j. s. AISTHORPE
President, First Bank and Trust Company, Cairo, Illinois
ranks. In southern Illinois he is known as a progressive and the First Bank and Trust Company, of Cairo, exerts a big influence in financial circles. Capital is $250,000 and deposits $1,400,-000. Mr. Aisthorpe was one of the original group system advocates and was a tower of strength to the movement. Group 10 wouldn’t know how to get along without him. If he had it his way they would hold more meetings and not only “get together” but “keep together.” Mr. Aisthorpe says: “You can’t get too much education on financial and banking matters and their free discussion tends to develop more good ideas and obtain ultimate results than any other method.”
V»
First National of Eastman
* The First National Bank is to be established at Eastman, Ga. Capitalized at $50,000. S. • Herrman, A. G. Williamson, C. C. Hosford, J. D. Herrman, J. J. Harrell, S. J. Anderson, J. S. Nicholson and W. L. Jessup, of Eastman, and R. L. Kinchen, of Scotland, are promoters.
The Farmers Bank and Trust Co., Wichita Falls, Texas, has changed title to First State Bank and Trust Co.
William Wilson, of the Euclid Garden Theatre, will rehearse and stage the show with the assistance of the minstrel show committee, composed of George Lomnitz, of the Citizens Savings & Trust Company; M. H. Laundon, Society for Savings; Isadore Freiberger, the Cleveland Trust Company; Guy W. Shanks, South Cleveland Banking Company; F. J. Zurlinden, First National Bank; W. J. Bauknet, Pearl Street Savings & Trust Company; and Thomas E. Monks, Guardian Savings & Trust Company.
Among the many original songs of a topical nature will be one from the pen of George Lomnitz, that is now in the hands of the printer and will appear in the libretto. It is said to be extremely good. There is also a monologue by M. H. Laundon, the humor of which will have an extremely local flavor.
Tr*
Pittsburgh Chapter
Pittsburgh Chapter held its opening meeting Tuesday evening, September 28th.
Hon. F. F. Oldham, of Washington, D. C., legal adviser of the comptroller of the currency, addressed the chapter on “Responsibilities of bank employees, officers and directors.” There was a large attendance of members to hear Judge Oldham.
He said it was the duty of those connected with banks to “walk in the way, narrow though they may consider it, which has been marked out for them by the legislative power,” and if the path needed to be broadened, the legislature or congress should be appealed to. The speaker devoted a great part of his address to an attack on “dummy directorship” in banks. “Directors should not regard themselves as gilded ornaments with which to lure depositors to the banks they represent. If they are unwilling to take an active part in management, they should not accept the positions.” He quoted supreme court decisions from several states in cases where directors have been sued for failure of banks, tending to show that Pennsylvania justices have been less severe in determining the liability of directors than jurists of other states.
Judge Oldham said the rule that directors ought to exercise the same degree of intelligence in taking care of the money of other people as they exercise in looking after their own money, was closely akin to the golden rule, which had been found to be the best guide of conduct in every transaction of life.
The meeting of October 12th was addressed by Frank D. Glover of J. S. & W. S. Kuhn, Inc., on “Bonds.”
V*
Cincinnati Chapter
The Cincinnati Institute of Banking had a successful opening of its new quarters in the Atlas National Bank Building Saturday evening. There were about 60 present, and among the guests of honor were James T. Roach, of the Garfield National, of New York City, and Franklin Alter, of Cincinnati. Edgar Stark, of the Union Savings Bank and Trust Company, gave a talk on “Loy-
J
THE MARKET CHART COMPANY l
INVESTMENT SPECIALISTS	(
259 LA SALLE STREET, CHICAGO	/
Reviews and Forecasts of Fi Conditions. Correspondence of
11
ncial and Trade ankers invited.
Cleveland Chapter
The Cleveland Chapter of the American Institute of Banking will give a minstrel show October 28th. The members are already in training for the entertainment and they are advertising it under the title, “Bankers in Burnt Cork.”
The members expect to make the entertainment an annual event from this on and to make money enough in this way to establish a permanent home for themselves, as well as to enlarge on their educational plans.
In producing this entertainment the Cleveland bank clerks are following the custom of the institute in other big cities, but this is the first amusement enterprise they have undertaken in the eight years of their existence.
The Cleveland Chapter of the American Institute of Banking is recruited from those concerns
CHAS. L. SACKETT President, La Grange State Bank, La Grange, Illinois
which comprise the great financial system of northern Ohio, and has a large membership among the officials and employees, who have two objects in organization, social and educational.
The educational is the main feature, and the members are given an opportunity to listen to the best informed men in the country on practical banking, commercial law, political economy and other subjects that have a bearing on modern finance. The course of study carried on the last season was most valuable and attracted many business and professional people to the weekly lectures in the Auditorium of the Chamber of Commerce.
The bankers minstrel show will be well staged and the parts will be taken by members, who are now brushing up their stunts and searching the curriculum of local humor with a view to making the first effort a bright and up-to-date event that will whet the appetites of their patrons for more of the same kind next year.
The committees are made up of the most prominent officials and employees of the local banks and the boys are entering into the spirit of the occasion with a zest and relish that promises success from both an artistic and financial standpoint.