[Volume XXVII
THE CHICAGO BANKER
12
FISK	ROBINSON
BANKERS
Correspondence invited regarding Government, New York City, Railroad, Municipal, and Corporation Bonds
Members of the New York Stock Exchange
Commercial National Bank Building
NEW YORK	CHICAGO	BOSTON
Western Trust and Savings Bank
Chicago, Illinois
Capital, One Million Dollars
ESTABLISHED 1873
Is thoroughly equipped to handle all business pertaining to banking and invites the accounts of banks, corporations, firms and individuals
society in the old capitol. Reminiscences of Mr. Upham’s life were given.
Resigns Treasurership of Insurance Company
George E. Towle, who came down from Park River, N. D., where he was president of the First National, three years ago to become treasurer and vice-president of the Northwestern National Life Insurance Company, has resigned leaving the work of investment of the company’s funds in the hands of the president and the directors who are bankers. Mr. Towle is a member of the new $100,000 Towle-Jamieson Investment Company which is to represent the Prudential Life Insurance Co., farm and city loan department in Minnesota. Mr. Towle has been a banker in North Dakota for twenty-five years and his connection with seventeen banks in Minnesota will be continued with supervision from Minneapolis.
Contest between Bank Clerks
Bank clerks of the Twin Cities competed Tuesday night at the First National in St. Paul in counting money, adding with machines and listing checks by hand. E. J. Gifford of the Capital National and H. E. Cass of the Northwestern National were judges. President Grey Warren of the Minneapolis chapter, Vice-President H. E. Cobb and Secretary P. A. Sandberg went over from their city to lend dignity to the occasion,
GRAHAM & SONS
Bankers
Insurance & Agents
Established 1857—52 Years
Interest on Deposits — Accounts Solicited Money to Loan on Real Estate
Open Evenings —Hours 9 a. m. to 9 p. m.
134 WEST MADISON STREET, CHICAGO
bank and currency issues. Tonight he will speak to the guests of the St. Paul association, but Congressman C. N. Fowler of New Jersey stole a march and talked to a few bankers on the same subject at a luncheon in Minneapolis. Because of Mr. Fowler’s attitude toward the central bank idea and Speaker Joseph Cannon he may be said to have stolen a march on Aldrich. Those at the luncheon were E. C. Cooke, head of the Minneapolis Trust Company; Judge M. B. Koon, vice-president of the Northwestern National; F. M. Prince, president of the First National, and two or three laymen.
Although he impressed upon his auditors that his plan was not to be exploited before he made his address and introduced the concurrent bill in congress newspapers gave much space to Congressman Fowler’s little dinner. The congressman told the group that if there is an attempt to create a central bank an issue will be wakened that will be fought with great bitterness.
Congressman Fowler’s plan embraces his ideas of asset currency, a central gold reserve, a board of fourteen bankers in each large city and a central board in Washington with daily meetings. This plan would serve the purpose of centralized influence over discount rates and other matters that would prevent panic conditions and not affect the individuality of any bank.
Bankers Attend Madison Game
After the Aldrich speech yesterday a car-load of Minneapolis bankers went down for the Madison game to-day between Wisconsin and Minnesota. The train, a special, was held for the close of the dinner and then started off for the Wisconsin capital. Secretary C. R. Frost was the manager of the tour.
Memorial Tributes to Henry Upham
Memorial tributes to the late Henry Upham, for a long period president of the First National at St. Paul, were presented this week at a meeting of the executive council of the Minnesota Historical Society in the portrait gallery of the
Minneapolis bank clearings at $33,124,015 last week showed an increase of 40 per cent. The total was as great as the clearings of Denver, Seattle and St. Paul combined. They were ahead of Cleveland by $15,000,000, of Cincinnati by $7,000,000 and two and one-half times as big as those of Detroit or Omaha and nearly three times as great as those of Milwaukee. Last year the total was $23,690,962. The previous week this year the clearings were $28,649,381. The jump was from $12,000,000 under the aggregate of San Francisco to only $6,000,000 less. The October clearings beat those of last year by $10,-648,829, reaching $137,661,162.
Aldrich Addresses Minneapolis Bankers
Senator N. W. Aldrich addressed 200 guests of the Minneapolis Clearing House Association last night at the Minneapolis club on the central
In Pittsburgh
OWING to industrial and financial conditions that are entirely peculiar to Pittsburgh, the banks of this great center lead the banks of all other American cities in earning capacity. These same conditions enable this bank to offer an unusually attractive proposition to Banks and Trust Companies everywhere to act as a Reserve Depositary and Collecting Agent for them. It pays liberal interest on deposits and gives banking service satisfactory to the most exacting.
Correspondence Invited
COLUMBIA
!»;national ■*A BANK
J OF PITTSBURGH
Capital $600,000.00	Sultfus, $1,000,000.00