THE CHICAGO BANKER	[ Volume XXV11
			
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 of Chicago Capital, Surplus and Undivided Profits $2,000,000 OFFICERS David R. Forgan, President L. H. Grimme, Cashier Alfred L. Baker, Vice-Pres. F. A. Crandall, Asst. Cashier H. E. Otte, Vice-President W. D. Dickey, Asst. Cashier R. U. Lansing, Manager Bond Department			Pioneer Pays Promptly /^\NE of the things that have made the Pioneer Life Insurance Co. grow so rapidly has been the promptness with which it pays its death claims. The business policy of the company is to make a careful medical examination, thus securing preferred risks, and then to stand by our hazards accepted. No quibbling, no delay; but always prompt and courteous with CASH IN FULL the day proofs of death come in. Annual Rates per $1,000 for Either Men or Women Age 20, per year . $10.00 Age 40, per year . $12.39 Age 25, per year . $10.22 Age 45, per year . $14.26 Age 30, per year . $10.64 Age 50, per year . $17.08 Age 35, per year . $11.27 Age 55, per year - $21.78 Other Ages in Proportion The Pioneer Life Insurance Co. GEO. L. COLBURN, President, Pekin, 111.
			
Pacific Northwest Banking News			
for its direct object raising funds to complete the city hall* install a fire alarm system and redeem as many of the outstanding warrants of the city as possible. It is estimated that the city hall can be completed for $13,000 while $4,-000 will be required to install the fire alarm system. The balance, $5,000, will apply on the city’s warrant indebtedness.
Banking Notes
Elza Hurst, for four years editor of the real estate and financial departments of The Spokesman-Review, has accepted a position in the mortgage department of the Spokane & Eastern Trust Company, taking up his duties at once under Conner Malott, manager. Mr. Hurst probably has a wider knowledge of city realty and values than any other man in Spokane. He has been in newspaper work for 10 years, coming to Spokane from St. Joseph, Mo.
R. L. Ford has secured a loan of $25,000 from the Union Trust Company to apply on the cost of a three-story building under construction at Second Avenue and Howard Street. Mr. Ford paid $70,000 for the ground and the building will cost about $40,000 making a total investment of $xio,ooo. The mortgage is at 6 per cent and will run 10 years.
J. P. M. Richards, president of the Spokane & Eastern Trust Company, has accepted the appointment on the union depot committee to succeed R. B. Paterson, resigned. Mr. Richards was appointed by Mayor Pratt last week, but was in Hot Lake, Ore., at that time and it was not known if he would serve. On his return he decided to accept the appointment.
The First State Bank, Marcus, Wash., has beeen chartered with a capital of $10,000. M. L. Speck, Fred B. McKeehan and others are promoters.
The Union State Bank, of Nez Perce, Idaho, has filed articles of incorporation with a capital of $50,000.
The First National, Sedgwick, Colo., reports capital of $25,000, and deposits of $70,000. R. T. McGrew is president; J. W. Broadhead, vice-president and C. B McKinstry, cashier.
will begin in December and rushed to completion, and in addition there will be several smaller factories, the total output being 10 cars a day. The product is to be used for flooring, roofing and finishing. It is composed mainly of slate, sand and cement.
Bank’s Remarkable Gain
Colton State Bank at Colton, Wash., of which M. Schulthels, Jr., is president, with James C. Langley as vice-president, shows remarkable gains in deposits, which are to-day in the neighborhood of $123,000. R. A. Langley, cashier, gave this history of the institution:	“Some
kind of a bank has been in existence at Colton since 1889. The first was the private bank of E. L. Barnett, and of that institution we have no record. The First National of Colton was organized in 1892, and on November 1st of that year the deposits were $20,313.60. On November 1, 1899, after the panic, it had on deposit $21,723.26. The bank was then reorganized and finally succeeded by the First Bank of Colton, a state bank, which on November 1, 1904, had deposits of $24,534.11. The First Bank of Colton was succeeded by the Colton State Bank, which had deposits of $123,690.96 on November 1, 1909.”
Unique Contest
L. W. Smith, an architect in Chelan county, Wash., and his brother George Smith, a wheat grower in Douglas county, have just finished a contest, which was unique and interesting. The former owns a four-acre tract planted to apples. From this he picked apples which marketed for $3,764.44. The expense of packing, boxes and marketing amounted to $736.40, leaving a balance of $3,027.94, or a net revenue of $750 an acre. The wheat raiser had 460 acres in wheat, which marketed for $4,544. The expenses amounted to $1,760, leaving a net revenue of $2,786, or $6 an acre.
Preparing for Bond Issue
Aldermen Martin, Ames, Godfrey, South-mayd and Ulrich of Sandpoint, Idaho, have been appointed members of a committee to prepare an ordinance calling for the election on the proposed bond issue of $22,000. The ordinance has
Spokane, Wash., November 18.—Edwin T. Coman, president of the Exchange National, has been elected vice-chairman of the local board of trustees of the National Dry Farming Congress, which will meet in Spokane, October 3d to xoth. David T. Ham, president of Ham, Yearsley and Ryrie and first vice-president of the Spokane chamber of commerce, is chairman, other members being Daniel Morgan, John K. Smith, Frederick E. Goodall, president of the chamber of commerce, John L. Smith, president of the Spokane Interstate Fair Association and J. W. Hays. John T. Burns, secretary of the National organization, will be secretary of the board. The trustees entertained Congressman Frank W. Mondell of Wyoming, president, and other members of the board of governors at a banquet in the hall of the Doges the evening of November nth. The guests of honor were Professor Alfred Atkinson, agricultural experiment college, Bozeman, Mont.; George Harcourt, deputy minister of agriculture of the province of Alberta; J. H. Worst, agricultural college of North Dakota, A. L. Mordt and John T. Burns. Congressman Mondell said in the course of an address that the increase of the bread supply is a problem which the people of America must solve. There are 100,000,000 acres which need the aid of modern farming methods, conserving the moisture from the clouds to make the land produce two or three times as much as at present. Mr. Worst predicted that the present wheat production of the United States will be doubled many times over in the next two decades, adding that by the introduction of modern methods the output will be 2,000,000,000 bushels in 50 years.
To Build a Modern City
Officials of the R. S. King Company, which has bought 1,000 acres of land including the town of Othello, on the Chicago, Milwaukee & Puget Sound Railway Company in central Washington, west of Spokane, announce they will convert it into a modern city and erect a plant for the manufacture of slate and marble products to cost $5,000,000 and employ 1,000 men. The company will also establish a bank. Work on the main plant, to be 100 by 600 feet,