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THE CHICAGO BANKER
November 13, /pop]
started in hopes of some special issue plunder from the late A. B. A. convention. Remember this, however, that you must be able to give “good references” or your donation will ( ?) be refused. Instead of “I have taken over,” read “I have been taken in” and you will appreciate our sympathy.
*ipIRST Annual Report of the Secretary of the Council Club of the A. B. A.,” the secretary being Joseph H. Ingwersen, has been sent out. It is a neatly printed booklet giving the genesis of the club and a good report of its first annual banquet and meeting, held during the Chicago convention. Names of all members and guests are included and make the booklet a valuable souvenir. Mr. Teter’s “Articles of Association and By-Laws” are included as adopted.
Francisco, president; Kenneth Clark, St. Paul, vice-president, and J. H. Ingwersen, Clinton, Iowa, secretary. On the executive committee are Joseph Chapman, Jr., John L. Hamilton, Wm. Livingstone and J. M. Donald.
TM ORTH DAKOTA beats her southern neigh--L יי bor by a wide gap. Ten years ago she had 87 state and 24 national banks with $9,100,000 in deposits. Now she has 456 state and 140 na-tionals with $58,753,000 in deposits.
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had 168 nationals and now has 320. Deposits have gone up from $92,117,000 to $372,547,000. Great state is Iowa!
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banks, which greatly outnumber the nationals in all four states in ratios of from three to one to as high as five to one.
T S. POMEROY of the Security National, *J • Minneapolis, is sending out neatly printed cards showing the banking growth in the Northwest states in the past ten years. Every man interested in that section should have a set.
Nationals are 269 as against 70. No privates ! Total deposits in both kinds of banks have increased in the ten years from $59,370,000 to $269,948,000. You can figure out the percentage of gain. It’s a great lesson.
ten years ago. Deposits have increased from $9,713,000 to $78,830,000.
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sorghum on a frosty morning. Place near the fire and watch closely.
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go, for George H. Burr & Co. Mr. Price goes into the Southwest and is well acquainted with the bankers and business conditions in that territory.
sociation, and the new secretary is R. C. Tur-rittin. Mr. Taylor expects to retire as state secretary for the Nevada Bankers Association at the December meeting.	Cashier.
RL. RINAMAN is hard at work as senior • vice-president of the Title Guaranty & Trust Company, of St. Louis. The ex-Illinois secretary always will be glad to see Illinois bankers (those from other states not barred), and the latch string hangs out. The Guaranty has $2,500,000 capital and can take good care of any wanting St. Louis connections.
SHORT, STANTON & CO. (Chicago office in First National Bank building) have incorporated in the state of Ohio as Short, Stanton, Worthington Co. with headquarters in the Fourth National building, in Cincinnati. Ohio business had come to such size that “expansion” was necessary.
FISK & ROBINSON’S bond expert has gotten out a new tabular light on the “increase of income by circulation over what would be earned by loaning cost of bonds at 5 per cent,” and showing “amount of increase per annum on each $100,000 bonds.” You may not believe it when you start in, but you will when you finish the study. This is a much mooted question upon which many bankers hold firmly fixed opinions. All such should get the Fisk & Robinson man— a regular Gipsy Smith in his way—to attempt a conversion.
O, the A. B. A. travelers’ cheques are not I ^ very thick around here,” said an observer, “but neither is Kent very thick.” Then you laugh? Fact is, it will take time to fatten ’em both up without changing the bill of fare.
INTERNATIONAL complications with Japan again are imminent! A Jap in Washington whose English is deficient, asked for a shave when he wanted a hair-cut, and thereby lost his valued whiskers. Charles W. Fairbanks, our esteemed ex-vice-president, asked for a hair-cut in Tokio, and the barber seeing no hair on the “place where the hair ought to grow” cut off the senator’s goatee. Trouble surely will come of all this.
RUMOR has it that C. P. King, cashier of the Havana National, of Havana, Illinois, will open a bond house in Chicago very shortly, backed by the Allertonl interests.
44INSURANCE of deposits” has an uncanny 1 sound to the average banker. Why not an “Assets Insurance Company” with a realization department as a sub-corporation? Then insure the resources of the bank, not its deposits, but pay off on day of failure and “realize” on the assets as a business venture. A company along these lines with big—say $5,000,000—capital would sweep the country.
TO the Editor:	Concerning that banker who
can have his hair cut without removing his hat. They told me down in St. Louis that he lives in Kansas City. When I arrived in Kansas City they laughed at me for saying so, and asked me why I didn’t look around for him in St. Louis.—O. G. F.
WE believe in helping the deserving whenever possible, and here is a case of repeating an advertisement from a daily paper free of charge.
“Partner Wanted.—I have taken over a high class financial and investment monthly publication of great promise, started three months ago. Will give partnership half interest for loan of $1,500, ready money, made to the publication, to be used in enlarging circulation, etc.; loan to be refunded out of first net profits and thereafter profits divided equally. No man or woman may investigate this proposition unless prepared to furnish good references.”
NEVER mind about “the best,” do your besc and the man at the top will keep moving you up. This may mean the difference between A. C. or V. P. after your name.
WE haven’t heard from J. J. Hill yet, whether he intended a joke or a compliment, out at Billings, when he said “Tha: great statesman, Senator Aldrich—” but could not finish for the applause? Which do you think?
BOOST your home town; boom your own section ; boom your own bank; but if you can’t boost other towns and other sections and other banks, don’t knock them, even if they be rivals, for they retaliate and all are more or less injured. Boost whenever you can! Never knock! Throw away the hammer.
4 4 ,pROTECTION for revenue only” is why 1 gambling keeps alive in Chicago. It is no infant industry. It takes a bomb explosion to get a policeman to “look in” on a protected joint in Chicago.
IF you are one of the “Innocents Abroad” and believe that gambling isn’t “protected” in Chicago, or that the police cannot find the place, just “open” a little joint without having obtained the official O. K. You will be wiser soon.
SENATOR ALDRICH will begin his speaking tour in Chicago today, after this issue has gone to press, but it is understood that contrary to earlier announcements, he will not, while on this tour, advocate a central bank, but will tell the work which has been done by the national monetary commission, of which he is the chairman. As he is also the chairman of the Senate Finance Committee, he is a decidedly important personage, and whatever he says on his tour will command the attention of the whole country.
WE did hear, that at a recent convention, one banker won a bet from another banker that he could point out a third banker who could have his hair cut with his hat on. Which border line of Missouri No. 3 lives on wasn’t stated.
OVER at the Rookery the janitor says the Illinois headquarters rarely open for business before 6:30 a. m. and seldom keep open later than 7 p. m. Longer hours probably could be kept but for the union rules against more than four hours per day overtime.
FORT WORTH’S clearing house established three new records during October. These are for the largest single day’s clearing, the heaviest total for a week and the heaviest total for a month. For the month the clearings amounted to $34,007,378.45, or an increase of $4,715,758.23 over the total amount of clearing in October, 1908, when the total was $29,291,625.22.
DOWN in Texas the bankers invariably inquire for “Joe” Talbert, of Chicago visitors, and for H. P. Hilliard, of St. Louis, is mentioned. If Texas has a vote on it, the new central bank, when established, will be run jointly by this successful pair.
JAMES RASCOVAR has purchased the last opposing interest in Albert Frank & Co., 25 Broad St., New York, and will dominate that firm just as he does the Wall Street Summary and the New York News Bureau. From messenger-boy to his present position of power and importance, both in and out of Wall Street, life has been with Mr. Rascovar a demonstration of the success which comes only as the result of pluck, ability and endurance.