[Volume XXVII
THE CHICAGO BANKER
10
The Wisconsin National Bank
OF MILWAUKEE
CAPITAL	-	$2,000,000
SURPLUS -	1,000,000
OFFICERS
L.J. 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
GARDNER P.STICKNEY, Vice-President R. L. SMITH, Assistant Secretary
OLIVER C. FULLER, President FRED. C. BEST, 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
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WISCONSIN
NEWS LETTER
By Mortimer I. Stevens
MILWAUKEE
does the public become aware of any irregularity connected with any particular bank. Even those in the banking business have no means of knowing what their next door neighbor is doing. _
“This is where the state guaranty law fails in its mission. No one knows or suspects anything wrong with a bank until after the thing is done and then the other banks in the state are expected to pay their proportionate share toward liquidating the debts of an institution in which they had not the slightest particle of control.
“My whole idea of state control hinges around the formation of the state clearing house association and the protection by means of proper and frequent examinations which such _ an organization could give. I have not gone into detail as to the exact working of such a system— that is a matter of small import beside the main idea and one easy of working out when the time arrives. The certificate of ‘good health’ particularly appeals to me and when once the public becomes educated to the real value of this certificate I believe that failures would be few and far between.”
Increase the Detective Force
Because of the number of bank robberies committed in the Northwest, the Interstate Protective Association, an organization fostered by bankers in Wisconsin, Minnesota, Iowa and the two Dakotas, will double its force of secret service men until snow flies.
George D. Bartlett, secretary of the Wisconsin Bankers Association, has recently returned from Minneapolis, where he attended a meeting of the
guaranty law can be obviated,” said Mr. Graet-tinger. “Briefly, I would suggest the division of the state into a number of groups and the organization of all banks within the state into a big clearing house association, with a special examiner appointed for each group by the state association. Not less than four times a year the examiners should carefully examine all banks within their respective districts and then report the results of their findings to the central committee of the association. This committee, after hearing the report, could then issue to the bank examined a certificate, which, to all intents and purposes, would act as a certificate of ‘good health.’
“One of the great evils of our present banking system is that but one examination is made each year and not until long after the mischief is done
According to local bankers the prevailing high rates of interest have had their effect upon business conditions in this state to the extent of curtailing to some degree many improvements and extensions planed by manufacturers. This does not mean that optimism has in any manner given way to pessimism but rather a postponement which will later on show itself in renewed activity in many circles.
Country bankers have had little difficulty this year in taking care of the crop movement and for several days there has been a falling off in the shipments of currency which bespeaks the good condition of the small banks throughout the state. Another sign of the country banker’s prosperous condition is the constant inquiries received by local bond houses as to various grades of securities and a healthy demand for bonds is anticipated later in the season.
Proposes a State Clearing House
The discussion which has waxed warm since the return of the special legislative committee, which investigated the workings of the state guaranty law in Oklahoma, has now simmered down to a general understanding that the report of the committee at the next session of the legislature will be adverse to the guaranty law.
A number of substitute schemes have been proposed, chief among them being the state clearing house idea. This is explained as follows by M. A. Graettinger, cashier of the Merchants & Manufacturers’ Bank of Milwaukee:
“For some time I have had in mind a scheme by which I think the evils of the present state