[Volume XXVII
THE CHICAGO BANKER
30
THE■ CLASSIFIED SERVICE
ADVERTISEMENTS INSERTED UNDER THIS HEADING AT TWO CENTS PER WORD. REMITTANCE SHOULD ACCOMPANY COPY. REPLIES FORWARDED IF POSTAGE IS FURNISHED. USE PRIVATE ADDRESS WHERE CONVENIENT.
Buy now—Tuolumne Copper, 3K. Buy now —Butte & Superior, 2%. Carling, Kelly & Co., 133 La Salle St., Chicago, Brokers. Specialists in Copper Stocks. Patronage of bankers given special attention.
FOR SALE
׳Articles offered for sale which have been inspected and found as described will be indicated by a star—*).
*For Sale—One four-cylinder Splitdorf Synchronized distributing spark coil. All cylinders must work alike. Coil brand new. Cost $72. Will sell for $25. Address Coil, this office.
*For Sale—Brand new, New Model Reflex 4x5 camera, Goerz Celor 7־inch lens and plate-holder. Cost $125. Sell for $85. Camera, this office.
*For Sale—Brand new Stevens 22-calibre repeating gallery rifle; $7.50. Rifle, this office.
*For Sale—Brand new Korona Stereo camera No. IV. case and six Premo holders. Fitted with Ross imported lenses and B. & L. double valve shutter. Convertible to regular 5x7 by instantly removable partition. Cost $110. Sell for $55. Stereo, this office.
The Use of Loan Credit in Modern Business. By Thorstein B. Veblen. Postpaid, 28c.
The Investors’ Catechism. By M. M. Reynolds. Cloth, by mail, $1.10.
“Investors’ Catechism.” It is intended to be the first volume in a financial library which will grow as the knowledge of the financial student grows. It contains all that it is essential for the beginner to know, and opens the way for a thorough study of the whole subject of investment. The author has for the sake of clearness and simplicity adopted a catechetical style which is somewhat novel in this sort of literature.
The above books are the best of their kind, and will be promptly forwarded upon receipt of price.
THE CHICAGO BANKER,
407 Monadnock Block, Chicago.
INVESTMENTS
Have you $1,000 or less to invest in a producing and paying proposition if I lay before you facts which prove that you can earn on an average 20% each year for the first five years? I have the facts ready to show you. Write, call or phone Central 3438. E. R. South, 711 Schiller Building, Chicago, 111.
$32,000 7% 20-year water bonds at 90c in a large town in Nevada. J. S. McCullough, 140 Dearborn Street.
rize, but tells only plain facts of the relation of the bond to its issuing corporation, and of the general investment aspect of the instrument.
Money and Credit. By Wilbur Aldrich. Postpaid, $1.37.
This volume contains much valuable information and much sound discussion on money and credit.
Principles and Practice of Finance. By Edw. Carroll. Postpaid, $1.85.
A practical guide for bankers, merchants, and lawyers. Together with a summary of the national and state banking laws, and the legal rates of interest. Tables of foreign coins, and glossary of commercial and financial terms.
The Banking and Currency Prob’ems in the United States. By Victor Morawetz. The author takes up the problem of the national monetary commission, appointed by congress, and discusses the means of providing a permanent safe guard against money stringencies and panics. Postpaid, $1.10.
The Monetary and Banking Problem. By Logan G. McPherson. i2mo. Cloth, $1.00. Postage, ioc.
These articles have elicited the praise of both economists and bankers.
The Principles of Money and Banking. By Charles A. Conant. It is a new and complete exposition of its subject. Two volumes. Postpaid, $4.25.
The Pitfalls of Speculation. By Thomas Gibson. Postpaid, $1.20.
A book dealing exclusively with marginal speculation, and analyzing in a clear and simple manner the causes of failure in speculation, with a suggestion as to the remedies.
BOOKS ON BANKING, FINANCE AND ECONOMICS
Credit. By J. Lawrence Laughlin, of the Department of Political Economy, University of Chicago. Postpaid, 53c.
The nature of credit and its effect on prices have long been a subject of disagreement among economists. Its basis is commonly assumed to be money or bank reserves.
Essentials of Business Law. By Francis M. Burdick, LL. D., Professor of Law in Columbia University. i2mo. Postpaid, $1.50.
This book is not written for lawyers, nor for professional students of law, but it shows how the rules of law governing the commonest business transactions have been developed, and it tells what they are to-day. Technical law terms have been discarded as far as possible, and when they are used they are so explained and illustrated as to be easily understood. The principles of law are not set forth in the form and style known to the leather-bound law book, but are simplified and expressed in clear, lucid, everyday speech.
Foreign Exchange. Tables converting foreign money into United States money, and United States money into foreign money at all commercial rates of exchange used in financial transactions between the United States and foreign countries. All about foreign exchange, including various forms 9f foreign commercial paper and teims, abbreviations, etc. For banks, bankers, steamship agents, importers, exporters and manufacturers. Cloth, $5.00.
Government Regulation of Railway Rates. By Hugo R. Meyer. A Professor of Political Economy in the University of Chicago. Postpaid, $1.60 net.
Investment Bonds. By F. Lownhaupt. Postpaid, $1.90.
Prospective investors who wish to make advantageous use of their money will do well to take notice of this volume. The author does not theo-
7,025 National Banks
Washington.—During the month of October, 1909, twenty-seven applications to organize national banks were received. Of the applications pending, thirty were approved and six rejected. In the same month twenty-two banks, with total capital of $1,505,000, were authorized to begin business, of which number eleven, with capital of $305,000, had individual capital of less than $50,000, and eleven, with capital of $1,200,000, individual capital of $50,000 or over.
The total number of national banks organized is 9.572, of which 2,547 have discontinued business, leaving in existence 7,025 banks, with authorized capital of $964,621,925, and circulation outstanding secured by bonds $678,344,963. The total amount of national bank circulation outstanding is $703,940,756, of which $25,595,793 is covered by lawful money of a like amount deposited with the treasurer of the United States on account of liquidating and insolvent national banks and associations which have reduced their circulation.
V
Reserve Agents Appointed
Reserve agents were designated by the department of insurance and banking of Texas for the following state banks: For the Brownsville Bank and Trust Company of Brownsville, the City National of Galveston and the City National of Corpus Christi, for the First State Bank of Seminole, the Austin National, for the Woodson State Bank, the Hanover National of New York.
V*
First National of Libby, Mont., has been organized with a capital of $25,000 and these officers: C. E. Lukens, president; F. M. Plummer, vice-president; C. A. Adams, cashier; directors: E. Lukens, I. Town, E. W. Doe, James Kone-chest, F. M. Plummer.
The comptroller has approved the organization of the First National of Lordsburg, with a capital of $25,000, by James M. Wyatt, Louis C. Klinzman, Henry L. Kuns, Hobart M. Williams, Jacob C. Funderburgh, Warren Williams and Julian F. Cumberland. Hunsaker, Britt & Fleming, 542 Citizens National Bank building, Los Angeles, correspondents.
Wisconsin, near Mercer, on a three-weeks’ outing and judging from the arsenal carried the game in that section of the country will have little opportunity to escape. Mr. Best is an ardent sportsman and aside from glowing reports of his prowess in the field his many friends in Milwaukee expect to hear a report on the various condensed food products as he goes equipped with all manner of condensed soups and vegetables.
Total clearings and balances as shown by the Milwaukee clearing house for the week ending November 9th, are as follows: Clearings, $13.-544,174.65; balances, $1,127,518.50.
Tacoma Chapter
(Continued from page 17) fered, etc. When Mr. Rickabaugh finished a great many of those present agreed that the course seemed far more tempting than it had at any previous time.
At the present writing the outlook is most promising for a good sized, enthusiastic class.
Mr. Rickabaugh promises to spare the chapter a few more evenings and several other attorneys have agreed to help in the near future.
Tacoma Chapter takes this opportunity of acknowledging the receipt of a most appreciative letter from Scranton, Pa., Chapter thanking us for the few pleasant moments their delegates spent in Tacoma. Scranton may be sure this letter will be preserved by Tacoma Chapter with the utmost care and shown only on rare oc-
Spokane Chapter
Spokane Chapter of the American Institute of Banking opened its winter season with a smoker in the Auditorium building. This program was presented:	“Modern Mesmerism,”
E. V. Klein; “Rapid Transit Sketching,” W. Robert Walker; instrumental solo, W. E. Gillis; “Minneapolis Chapter Ways,” O. M. Green; vocal solo, Jesse Buchholz; “Chicago Chapter Echoes,” Mr. Clarke; vocal solo, H. E. Winder; “Any Old Thing,” Ray Bigelow; vocal solo, M. Lewis.
Milwaukee News Letter
(Continued from page 11)
Whittet, Edgerton; Hon. O. A. Crowell, Almond ; Hon. Platt Whitman, Highland; Hon. William Reader, Antigo. President John H. Moss, of the association, will preside.
A Neat Form of Advertising
Several months ago the Wisconsin Trust Company, of Milwaukee, announced that they had secured a number of volumes of a book entitled “I Have a Little Money! What Shall I Do With It?” and that this book would be mailed free upon request. The book is a clear and concise explanation of the various forms of investment securities and in simple English shows the prospective investor how to place his money and the reason therefor. Judging from the number of inquiries which have poured into the trust company Wisconsin is a favored state in that a large percentage of its population has on hand “a little money,” and what is more to the point, wants to know “what to do with it?”
Perfecting Its Purchasing Department
Several months ago the Wisconsin Bankers Association laid the ground plans for a cooperative purchasing department and definite plans are now assuming some shape. Secretary Bartlett has secured liberal concessions in the form of discounts from various manufacturers of typewriters, adding machines, automatic cashiers, burglar alarms, etc., and members of the association desiring such supplies are given opportunity to avail themselves of the discount thus obtainable. Mr. Bartlett states that the ordinary bank can thus save in the course of the year an item amounting to considerable more than its dues in the association.
Milwaukee Chapter Meeting
The Milwaukee Chapter of the American Institute of Banking will hold its next regular meeting on the evening of November 12th. Prof. E. D. Howard, of Northwestern University, will speak on the subject of the “Relation Between Credit and Speculation.”
Will Hunt for “Deer”
Fred C. Best, secretary of the Wisconsin Trust Company, has gone into the wilds of Northern