11
THE CHICAGO BANKER
November 27, 1909]
FOURTH STREET NATIONAL BANK
OF PHILADELPHIA, PA.
Capital -	$3,000,000.00
Surplus and Profits -	6,000,000.00
UNEXCELLED COLLECTION FACILITIES CORRESPONDENCE INVITED
R. H. RUSHTON. President	E. F. SHANBACKER, 1st Vice-President
B. M. FAIRES, 2nd Vice-President
R. J. CLARK, Cashier	W. A. BULKLEY, Assistant Cashier
W. K. HARDT, Assistant Cashier FRANK G. ROGERS, Manager Foreign Exchange Department
SHORT, STANTON & CO.
DEALERS IN D H JVT Q HIGH GRADE -D U J.N JU O
MUNICIPAI— RAILROAD-CORPORATION AND MUNICIPAL I R R I Q A T I O N
Suitable for Banks, Individuals, Trust Funds and Estates Principal Secured; Income Assured Circulars describing offerings furnished on request CHICAGO	CINCINNATI
533 First National Bank Building	1005 Fourth National Bank Building
Telephone Central 6047	Telephone Main 1280
Korona Cameras
reach a state of perfection which can only result from many years of constant improvement.
In purchasing a KORONA you get the benefit of all the experience we have had in making cameras, dating from the beginning of amateur photography.
You must examine a Korona to realize how much can be done by superior knowledge to excel the ordinary camera construction.
ASK YOUR DEALER
for a catalogue for 1909 of Korona Cameras. It contains much interesting information about our lenses and other goods.
Gundlach-Manhattan Optical Company
817 So. Clinton Ave., Rochester, N. Y.
Is Appointed Receiver
The Wisconsin Trust Company, Oliver C. Fuller, president, has been appointed receiver for the Wisconsin Knitting Works. Charges were made by a number of creditors that the knitting works violated the bankruptcy law by entering into an agreement on November n, 1909, with David C. Green, president of the Milwaukee Trust Company, making him trustee of its business. The liabilities of the bankrupt company are estimated at $34,000 with assets approximately $25,000.
Calls for State Bank Report
Bank Commissioner M. C. Bergh late last week issued a call for report of state banks and trust companies of their condition at the close of business on November 16th. This is the most comprehensive report called for during the year as it is made the basis of the commissioner’s annual report.
New Bank at Arlington
A charter has been issued to the Arlington State Bank by Commissioner M. C. Bergh. The capital of the new institution is $15,000. The following officers are named: G. McMillan, president; D. W. Poor, cashier.
Approves Deerfield Bank
Commissioner of Banking M. C. Bergh has approved the articles of incorporation of the State Bank of Deerfield at Deerfield, Dane county, Wisconsin. The capital of the institution is $10,-000 and the incorporators Nels Holman, G. O. Berglund and N. G. Larson.
Personal Mention
John G. Rexford, president of the First National Bank of Janesville, Wisconsin, spent several days in Milwaukee during the past week.
Inspects Wisconsin & Northern Railroad
Oliver C. Fuller, president of the Wisconsin Trust Company, accompanied by several Milwaukee business men, returned Wednesday from a tour of inspection of the Wisconsin and Northern Railroad. Mr. Fuller and party were the guests of the president of the road, H. F. Whitcomb.
Milwaukee Chapter Meeting
An interesting meeting of the Milwaukee Chapter of the American Institute of Banking was held at the club rooms Friday evening, November 26th. Prof. M. S. Wildman, of the Northwestern University, an authority on financial matters addressed the meeting upon the subject of “Some Problems in Bonds in Our Industrial Growth.”
Complies with the Law
A verified copy of a resolution of the Oshkosh Savings and Trust Company, Oshkosh, Wisconsin, continuing its existence under chapter 186 of the law of 1909 has been filed.
Alleges Fraudulent Transaction
Alleging that his signature to certain promissory notes was secured by fraudulent means W. D. Carroll, of St. Paul, has sued H. B. Fargo and Company, a private banking firm at Deerfield, Wisconsin, to enjoin them from negotiating, transferring or enforcing the note and praying that the note be delivered up and canceled. The amount of the note is for $1,000.
\ MERICAN firm of twenty-five years
standing desires to represent or negotiate
A
high grade American financial or industrial propositions for Europe. References required. Noyl, 11, Rue St. Florentin, Paris.
not taxed out of proportion, perhaps, at present, this additional tax would drive from our fields many of the large branch manufacturing plants and in addition would surely prevent further expansion, for no manufacturer would wish to locate where he was subject to a tax of perhaps, 20 per cent upon his income.
“From the best information at hand I am led to believe that five out of the seven members of the commission are in favor of the income law as prepared and will so report to the legislature. It will then be up to that body to pass or reject the law. From an attorney’s standpoint it will always be difficult to enforce. It would be an extremely expensive law for the state to carry out and the vast number of clerks and superior officers entailed in the enforcement of such a law would materially eat into the income to the state thus derived. Wisconsin does not need an income law for the state has now more money than it can spend.”
Decision is Far Reaching
“A pretty sweeping decision”—This is the way President Fred Vogel, Jr., of the First National Bank, Milwaukee, characterizes the recent decision of the supreme court in the standard oil matter. That the law will have to be modified Mr. Vogel firmly believes and yet he cites the secrecy with which the operations of the defendant company have always conducted their affairs as one of the main reasons for the existence of such a law.
Optimism controlled by conservatism is the key note which Mr. Vogel sounds for the country and while inclined to optimism Mr. Vogel states that many things are out of all proportion and sums it up with the statement that the country is “living too fast.”