7
THE CHICAGO BANKER
December 4, !pop]
Bank Officers and the Laws
It is said that the answers of national bank presidents and directors to the list of questions asked them by the comptroller of the currency several months ago, intended to disclose their familiarity with the law governing the conduct of national banks, are not of such a satisfactory character that the comptroller of the currency is willing to give out even a summary of their replies. On the; contrary the replies are said to show woeful lack of intimate knowledge of the banking laws as applied to the actual business of every day banking.
The twenty odd questions asked by the comptroller of the currency of the bank officials and directors were in almost every instance very fully and frankly answered. The replies have been summarzied for the information of the working force of the office.
First National of Goodhue
H. M. Scovell, president, and his associates have sold control of the First National of Good-hue, Minn., to Cliff W. Gress of Cannon Falls, Minn., and associates. The new officers are Cliff W. Gress, president; Charles F. Sawyer, vice-president, and W. R. Sawyer, cashier. The owners are all men of many years successful banking experience.	^
Officers and Directors Elected
J. P. McNair has been elected president, R. W. McCreary vice-president and J. A. M. Gardner cashier of the Aiken (S. C.) Savings Bank. The directors are R. W. McCreary, G. R. Toole. E. H. Wyman, C. L. Weeks, and J. P. McNair.
“The last recommendation made by Secretary Shaw as Secretary of the Treasury was that he (Shaw) be vested with the power to do the very thing you propose—that he should have the right alternately to raise and lower the reserve of the banks. He immediately ceased to be Secretary of the Treasury. Mr. Roosevelt informed Shaw that he was no longer wanted.”
V*
Postal Bank Plan to Wait
Washington, December i.—The deliberate purpose of postponing the passage of a postal savings bank law is ascribed to the recommendation of the monetary commission that congress do nothing in that direction until the report of the commission is received. While tne friends of postal savings banks are promised by the commission that the subject so dear to them will be considered, they are unable to obtain any assurances that it will be made a part of the new monetary system which the commission will propose.
They assert that the commission is prepared to make a report at the coming session of con-g'ress, but will not do so to keep financial and currency issues out of the next congressional campaign.
It is charged that Senator Aldrich and his associates have succeeded in setting in motion influences which will result in all probability in preventing the passage of a postal savings bank bill at the coming session.
«׳<^
S. H. Clammer has been elected to the presidency of the new Fort Collins (Colo.) Bank and Trust Company.
NATIONAL STOCK YARDS NATIONAL BANK
An institution with ample capital offers perfect service to Bankers interested in live stock business at the St. Louis National Stock Yards
NATIONAL STOCK YARDS	-	-	ILLINOIS
Peoples Savings Bank & Trust Co.
Capital and Surplus, $285,000 Deposits, $2,746,712.50
Solicits Accounts and Collections from Banks, Firms and Individuals on Favorable Terms
WM. BUTTERWORTH, PRES.	NELSON H. GREENE, V1CE-PRES.	C. W. LUNDAHL, CASH. AND SEC.
First National of Lake Forest
The eleventh statement of the First National of Lake Forest, Illinois, made under the call of the comptroller, shows deposits of about $200,-000. This bank was organized October 31, 1907, just in the beginning of the panic of two years ago, and has made a splendid showing. Their capital and surplus is $60,000. Frank W. Reed, the cashier, and George Anderson, vice-president, will shortly open a co-partnership bank at Round Lake, Lake county, Illinois, there being no bank located at this point at the present time. This is some twenty miles distant frem Lake Forest, and Mr. Reed will also act as cash ier of the new bank. Before going to the First National of Lake Forest, Mr. Reed was for five years paying teller at the Central Trust Company of Illinois.
George Keys, assistant cashier of the Farmers National, Springfield, Illinois, took in the land show at the Coliseum last week.
Citizens Trust and Savings Bank
The Citizens Trust and Savings Bank, capital $50,000. located at Fifty-fifth and State Streets,
CITIZENS TRUST AND SAVINGS BANK Chicago
Chicago, was organized October 9, 1905. Oliver Smith is president, Frank Nahser, vice-president and A. H. Lukin, cashier. This bank shows a remarkable growth in its four years of business in almost exclusively a residence <1i«Hct, having deposits on November 1st of $273,000, an increase over last year of $144,000. To encourage the people of tlie neighborhood 10 open saving,.־ accounts Mr. Smith is distributing a neat, nickel-plated bank.
V
Tells Why Shaw Lost Post
New York, November 30.—Horace White, who heads the Wall Street investigating committee appointed by Governor Hughes, has made known the reason why Leslie M. Shaw resigned the secretaryship of the treasury during the Roosevelt administration. Victor Morawetz had talked at length on the central bank project and an open discussion between Mr. Morawetz, Mr. White and Paul Wauberg followed, in the course of which Mr. White said, addressing Mr. Morawetz :
Joyce & Company
(Incorporated)
General Agents
The Rookery Bid¿.	Chicago, Illinois
ILLINOIS ADVISORY BOARD Charles G. Dawes, Resident Vice-President A. ■1. Earling	David R. Forman John A. Spoor
Walter H. Wilson	M. J. Kirkman
COUNSEL
Winston, Payne, Strawn & Shaw
Calhoun, Lyford & Sheean
National Surety Co.
Of New York
Fidelity and Surety Bonds Burglary Insurance