31
Interest
THE CHICAGO BANKER
October 23, 1909]
At Par and Accrued
consult the man who says “By the eternal rump-ety-tumpety, this note’s due and’s got to be paid” than will wander in to see the White Kid.
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attract public attention to a most interesting and forceful personality—that will be done by Mr. Schwab himself—but to edit his communications and speeches before they are delivered.
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versatile bankers in California and promises that “Chicago will have nothing” on the doings at Los Angeles. The club started off its first meeting so successfully that expectations for the future are at high tide.
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Aldrich, ever since Mr. Taft’s Boston speech, has been practicing eight hours daily trying to look like a lifelong friend of the people.
VW'HEN all the young millionaires take to fly-” ing, me for the subway, says Colin Campbell.
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ually make room for it on the front page?
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the gold standard democrats who “financed” the anti-Bryan ticket in ’96 must be very tickling to him who lives on top of the only hill near Lincoln, Neb.
game. According to the statement of the credit men, these go-between lenders sometimes offer to arrange for an exchange of notes between “responsible firms” as a means of supplying bills receivable to both parties, or to secure the loan of the bills receivable of one concern to another to raise money upon, for a discount of 5 per cent plus the broker’s commission.
I APANESE-AMERICAN BANK, San Fran-«J cisco, (closed) is likely to pay fifteen cents on the dollar. The new California banking law is likely to close up all such banks and to prevent new ones of the same kind from opening.
moon trip, but to have an operation for appendicitis instead. This shows how quickly the Russians grasp the American idea of humor.
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tion organized to “insure bank deposits.” If the company ever justifies the name it is trading upon it will be a distinct addition to present facilities.	The Bond Man.
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Bay Ridge Savings Bank
The new Bay Ridge Savings Bank, Brooklyn, (N. Y.) has elected the following trustees: Maurice T. Lewis. Pierce Keefe, Gustav Grafen-stein, George Ihnken, Henry Schwanewade, Harry Nettlebrandt, Olaf Olafson, W. Erneste, H. Gantzer, William Wharton, W. E. Kay, J. D. Holstein, Alfred Hamilton, Peter Heincke, Michael Murphy, Copley H. Selfa, Justus Berge, Henry Mayer and W. J. Bolger, all of Brooklyn.
W. B. Armstrong, of Craighead county, and J. A. Koons, of Illinois, are organizing a new bank at Jonesboro, Ark., with a capital of $100,000.
country bankers are not investing as freely as earlier in the season.
WESTERN representatives of Lee Higginson & Co. left this week for their annual meeting at the home office in Boston, which takes place Thursday.
A T. LESTER, of the Farwell Trust Co., be-• lieves that if they could secure two or three good irrigation issues, they would have no trouble whatsoever in disposing of them.
EJ. HUGHES, of the First National, Milwau-• kee, is mailing out to clients of the bank a valuable coin book, showing in colors the current minted coins of the world, and not a few historic ones.
RICHARD L. CRAMPTON, the new Illinois secretary, has taken hold at once and can be found at Illinois headquarters, Room 1030, The Rookery, during office hours.
PRESIDENT WING, of the First National, Boston, questions the advisability of a central bank, controlled either by private or government interests. He sees only added Wall Street power over the money market as the chief result.
SPEAKER CANNON removed his cigar for a few moments and said that “some bankers and some politicians were like the fox which had his tail cut off in a trap and then wished all other foxes to cut their tails off.”
TO count Joseph T. Talbert as an additional Armour representative in the National City Bank of New York is a mistake. Talbert represents exclusively his ability as a banker, which is real and considerable.
Up ACKERS to further boost prices,” is the l war cry from the annual meeting of the Meat Packers Association. The shoe factories kept at the boost until the “cobbler” has come out again as a shoemaker in every village and hamlet. If you don’t believe this, ask someone who knows. That condition in any trade which follows boosting itself out of business is—well its a short and ugly word.
T OHN F. HARRIS of Harris, Winthrop & *J Co., is said to be slated for a place on the Republic Steel board, as a Gates representative. John W. believes in shoving the good ones up into the king row.
WHEN a bank or a bond house is unable to enter into competition “in quantity” with some of its big rivals, because of a lack of capital, it should not give up in disgust. There are many attractive ways of meeting a limited demand, so that one may meet competition successfully.
Advertising does not jerk; it puiis. it begins very gently at first, but the pull is steady. It increases day by day and year by year until it exerts an irresistible power.—John Wanamaker.
CUT out “revenge” from your banking policy “Getting even” takes about one-half of your time and gets the best of your mental machinery out of order. “Get business” is the only lasting policy.
THE following, done in shorthand, was picked up at Decatur last week and by many attributed to Poet Laureate Jones of the Park, N. Y.:
O, tender lovely woman is,
A thing of down and satin;
Some spot of deathless roses she Should make her habitat in.
How carefully she wraps her up When winter swirls and rankles;
A sealskin sack upon her back—
And gauze upon her ankles.
REVERTING back to Decatur your attention is called to a few little things you may have overlooked.
CAPT. WAKEFIELD, of the Corn Exchange National and a Cub enthusiast, served notice at Decatur that if a game of ball was played he would agree to strike out the first three men.
EW. WAGNER, of the National Produce, • was the first member of the council to reach the hotel where the candidates for secretary were anxiously awaiting the outcome of the election. Mr. Wagner said, as he entered the lobby, “Mr. Crampton, I congratulate you.”
THE special train was scheduled to leave Chi-cage at 11:30 p. m. but did not pull out until 12:45 a. m. Those on board desired to know the reason and were informed that it was held for Chas. N. Stevens, treasurer of Group four, who was walking in from Evanston. They said that it was up to Stevens to settle in the diner, but fortunately for Stevens the diner was closed and efforts to open it were of no avail.
MR. KINGSLAND, of Babcock Rushton & Co., invited the members of the special train to meet Mr. Henry Woodruff, of the Prince of To-night company after the performance, which was accepted by many. Big eats.
MESSRS. LEE HIGGINSON & CO. were represented by two able mixers named Geo. K. Barnes and A. Lintott. R. E. Gamble, traveling out for the Drovers Deposit National, left early to attend the Missouri group meetings.
CHARLES F. FOX, late of the Third National of Rockford, took up his duties, October 1st as traveling representative in Illinois for the Chicago Savings Bank & Trust Co., and William G. Edens, of the Central Trust, secretary of Group Four, was the only group official to give out special pins for members.
JB. FORGAN, JR., is going in to be a real • banker. He has been given work in the “In Mail” department at the First National. About 4,000 letters per day are received and the number of clerks required to dispose of this vast quantity of mail in less than three hours is 93; 18 clerks for opening and spreading, 22 mail checkers and 12 assistants for large credit letters, 18 adding machine clerks, 6 clerks for miscellaneous sorting and stamping, 3 clerks to look over bills of exchange and note teller items. 2 letter proof clerks, 2 credit ticket writers and 1 time sheet clerk.
THE courts having knocked out guaranty of deposits in Nebraska, Gov. Shallenberger proposes an extra session of the legislature to pass a corrected bill.
TALK about investments. A few years ago you could not exchange a share of Gillette Razor stock for a shave and a hair cut. Now it pays 300 per cent. This is real and not a Morse or a Munsey pipe.
Robert b. Armstrong, president of the
Consolidated Casualty Co., has sent the following to Mr. Crampton:
“Permit me to repeat in writing my congratulations expressed to you early yesterday. I think the convention is to be congratulated in having secured so efficient and experienced a banker and man of affairs for its secretary. I congratulate you on the opportunity it offers you to do good to the banking interests of Illinois.”
MR. GRAY, of H. T. Holtz & Co., states that while the bond market is quiet their salesmen continue to secure their orders, although the