[Volume XXVII
THE CHICAGO BANKER
16
Operating the Savings Bank System whereby the carrying of Life Insurance becomes a means of saving money, and not an expense.
PIONEER LIFE INSURANCE CO.
PEKIN, ILLINOIS
WE HAVE VALUABLE PAR POINTS
also a large volume of items to be collected. Our collection facilities are excellent.
Correspondence Invited
The National City Bank o£ Chicago
Capital, Surplus and Undivided Profits $2,000,000
OFFICERS
Alfred L. Baker, Vice-Pres. W. D. Dickey, Asst. Cashier
David R. Forgan, President	L. H. Grimme, Cashier
F. A. Crandall, Asst. Cashier	H. E. Otte, Vice-President
R. U. Lansing, Manager Bond Department
Pacific Northwest Banking News
Postoffice Shows Gain
E. A. McCall, superintendent of the money order department at the Spokane postoffice, shows gains of 1,600 domestic and 200 foreign orders for its quarter ending September 30th. Last year in this quarter 13,283 domestic money orders for a total of $180,453 were issued, while the quarter’s record for 1909 is 14,894 orders amounting to $184,955. There were 3,139 foreign orders in the third quarter of 1908 and 3,-300 in the same period this year. The office paid out on orders last year $152,803 and $147,800 in 1909, while the total amount remitted to the postoffice department for the third quarter in 1909, is $874,000, as compared to $848,260 in 1908.
State Examiner Reports
J. L. Mohundro, state bank examiner of Washington, shows in his report, copies of which have been received in Spokane, that state banks have aggregate deposits of $85,864,629.71, a gain of more than $6,000,000 in two months. Nearly every county in the state showed a substantial increase in deposits, cash on hand and loans. The September total of loans was $57,405,398.48, a gain of a little more than $3,000,000 in sixty days.
Plan Organization to Bond County
Advocates of good roads in Chelan county, Wash., are planning a permanent organization to bond the county for from $100,000 to $200,-000, the money to be used to macadamize and repair the roads in the county which are the main arteries of the valley, the home of the big red apple. A temporary association will be organized at Wenatchee early in November.
President and Cashier Elected
Jeff Hood has been elected president, and R. Quiss, cashier of the new First National, Cornelia, Ga. The institution is capitalized at $30,000.	^
Lippincotts for November
The Magnate of Paradise is the long story in the November Lippincott, by the noted Mary Imlay Taylor. Bright, original short stories complete the offering.
Union State Bank
Fifty thousand dollars is the capital stock of the Union State Bank of Nezperce, Idaho. The directors for the first year are: W. F. Johnson, L. W. Robinson, C. W. Booth, E. H. Waters and K. G. Osterhout, of Nezperce and F. L. Leonard and E. L. Kilen, of Grangeville. The company is organized to transact a general banking business and to make loans, write insurance and do other business under the head of banking. Twenty-five thousand dollars has been paid up, as follows: W. F. Johnson, $2,500; C. W. Booth, $3,-000; E. H. Waters, $1,000; K. G. Osterhout, $1,-000; George P. Johnson, $1,000; Ivan H. Jor-gens, $1,000 ; E. L. Kilen, $6,000; F. L. Leonard, $8,500; P. H. Sanger, $1,000.
Speakers at Chapter Meeting
Charles A. McLean, cashier of the Traders’ National, was the principal speaker at the meeting, October 20th, of the local chapter of the American Institute of Banking. He discussed “Currency Reform.” C. W. Winter, president of the Bank of Colville, and M. Clark of the Spokane and Eastern Trust Company, also addressed the meeting. Mr. Clark, who was recently chief clerk of the Commercial National of Chicago, talked on the work of his former chapter. Other topics were: “Paying Teller,” Harry N. Gardner, Exchange National; “Playing and Receiving,” E. J. Armstrong, Spokane and Eastern; “Blotter System,” A. S. Lindblad, Traders’ National; “Individual Ledger,” Earl Scholer, Old National. Edward Vesey of the Traders’ National, furnished the music.
Grand Jury Looking into Bank Failure
Federal grand jury, in session at Moscow, Idaho, is probing the Lewiston National defalcations, presented by Assistant Attorney-General Peyton Gordon. J. L. Chapman, former teller of the bank, and Clarence Robnett, former bookkeeper, have been held to the grand jury by United States Commissioner Eugene O’Neill. The total defalcations are approximately $137,-000, of which Robnett is charged with taking $90,000, while Chapman’s alleged defalcations are less than $10,000.
Spokane, Wash., October 28.—Vigorous will be the prosecution by the bankers of Spokane, Seattle, Walla Walla and other parts of Washington of J. M. Bennington, a merchant at Ritz-ville, who is in the Spokane county jail awaiting trial on numerous charges of forging warehouse receipts to the amount of $52,600. In view of the fact that he has served terms in prisons in Iowa, Oregon and Washington, local bankers believe it will never be safe to permit him to have his freedom. The banks it is alleged were victimized by Bennington are:	The Spokane &
Eastern Trust Company, $9,000, money returned by relatives; the Seattle National, $25,000; the Baker-Boyer National, $6,000; the Pioneer National of Ritzville, $2,500, and the First National of Ritzville, $8,300, reimbursed by relatives. He also secured $1,800 of insurance funds through forged paper. Mrs. Bennington, mother, and W. J. Bennington, brother of the prisoner, advanced the money to save him from prison, the former parting with a farm of 480 acres. When the forged paper for $25,000 showed up Bennington’s relatives realized the enormity of his operations and his bondsmen asked to be released. Just before his arrest he arranged to borrow $10,000 from the Exchange National of Spokane, but did not obtain the money.
To Organize Orchard Bond Company
New England capital, represented by A. H. Mackenzie of Auerbach, Mackenzie & Company, and William J. Pelissier of Boston, will organize an orchard bond company with a capital of $1,-000,000 to acquire a tract of fruit land near Spokane and develop the trees to maturity after planting to Spitzenbergs, Delicious, Yellow Newton, Pippins, Winter Banana and other commercial varieties. The bonds will be sold in the East, principally in New England. Besides the bond project the company will plant and irrigate five and ten acre orchards, which will be sold outright to New Englanders desirous of locating in the West and handling their orchards personally. Messrs. Mackenie and Pelissier, who are in Spokane, expect to acquire 2,000 acres of land adapted to apple culture, and will make their headquarters in Spokane.