13 THE CHICAGO BANKER December 4, içoç] William A. Tilden President Nelson N. Lampert Vice Prest. Henry R. Kent Cashier George H. Wilson Asst. Cashier Charles Fernald Asst. Cashier Colin S. Campbell Asst. Cashier MONROE AND CLARK STREETS О H I C A G О Capital, $1,000,000 Surplus and Profits, $400,000 Your Business Solicited THE LIBERTY NATIONAL BANK OF NEW YORK FREDERICK B. SCHENCK, President DANIEL G. REID CHARLES W. RIECKS Vice-President ׳ .?¥ Vice-Pres. & Cashier ZOHETH S. FREEMAN & 4-‘Ш tS 1 FRED’K P. McGLYNN Vice-President 1 %жз Ass’t Cashier HENRY P־ DAVISON HENRY S. BARTOW Chairman Ex. Com. Ass’t Cashier CAPITAL, SURPLUS AND UNDIVIDED PROFITS $ 3,500,000.00 vinced of that. From now on there will be a continuous repetition of the phrase ‘central bank’ until the people become accustomed to the sound. But all this time the real text of the bill will be kept a secret.” Another Banker on Central Bank Issue F'ranklin Roberts, director in the First National of San Francisco, said in Minneapolis of the central bank of issue that the United States is the only civilized country which has none in some form. “Such a bank could be made free from politics,” he said, “and it would add to the stability of banking by giving the public confidence by paying depositors money any time they demanded it. It would end present discrimination whereby 1,200 national banks are made government depositories to the exclusion of the remainder of the 7,000 banks over the United States. “It would also end the criticism aimed at the secretary of treasury for favoritism in depositing government funds and would allow the use of every dollar that is usually locked up in the treasury of the United States when the revenues exceed the expense of the government.” 930 Banks in Minnesota The state of Minnesota has 930 banks, or one for each 2,128 persons. While this is not so large a percentage as some of the other Western states boast, Iowa, for instance, which has a bank for every 1,380 persons, the ratio is a fair one when it is considered that New York state has a ratio of one bank to 1,833. In Minnesota there are only three large banking cities, the Twin Cities and Duluth, and the other banks are scattered among the small towns. The clearings of the Twin Cities combined rank among the .first ten of the leading bank centers each week, sometimes reaching as high as seventh place. The consolidation of four banks in Minneapolis has cut down the percentage of gain to a considerable extent, yet the average is high. One banker says of the situation. “The smaller banks are far better for the depositor than the large institutions in New York or Chicago. The small banker can keep closer tab on loans and know his depositors better.” V» The First Guaranty State Bank, Clifton, Texas, has filed articles of organization with a capital of $10,000. C. O. Nelson, Jr., H. J. Cure-ton, J. N. Colewick and others are promoters. Mr. Dickey is a director or trustee in several banks, trust and insurance companies. Bank of France Ideal in Management Guy P. Des Autels, a financier of Paris, said in Minneapolis in regard to the central bank idea that with the exception of the Bank of England the Bank of France is the oldest central bank in existence. It has 47 local offices through France, representing a wider application of the principle of branch banks than in the case of any other European bank. He gave a detailed statement of the operation of this bank with which bankers are familiar expressing the idea that in note issue and management it is the ideal of the banking world. C. D. Kincaid on Aldrich Charles D. Kincaid, vice-president of the Pennsylvania Trust Company, said in Minneapolis: “It is a joke the way Aldrich is cavorting over the country saying I have no plan, I have no plan. Perhaps you remember President Taft’s Boston speech in which he said Aldrich was a fine gentleman and a wise statesman and patriot with a fine currency scheme and a central bank plan, and that he was personally for it. “His program consists in a gentle but persistent knocking of the present currency system. Coincident comes the1 gentle hint of the central bank. Aldrich began the knocking last February and insofar as the hinting is concerned—well, those who heard him here were very much con- NQTICE I would like to correspond with some one interested in the building of an electric road through the richest portion of southern Minnesota. It will pay big from the start. Free right of way. Only thirty miles needed. For further particulars, Address B. W., Chicago Banker the secretary’s book did not show that the capital was $500,000, as the increase was previous to that date. The attorney-general decided for the company. Bank Clearings Record Broken November bank clearing records have been broken in Minneapolis with a total of $127,382,-470. Last year the clearings were $105,864,521. In 1907 the November clearings were $98,497,-718, in 1906 they were $106,240,195 and in 1905 they were $104,503,720. The clearing house reports general increases in all lines of business. “Little Tommy” Caught Secretary C. R. Frost of the Minnesota Bankers Association, has word of the capture of “Little Tommy” at Watertown, S. D. The rather frivolously named individual is said to be strong in yegg-finance and is suspected of having enjoyed fruits of the labor of blowing the safe of the Lake Norden Bank, S. D., to the extent of $3,500. “Little Tommy” is selected at random from a string of aliases as long as can be accommodated on a Bertillon system card. Eastern Bankers Watching the Northwest A. W. Krech, president of the Equitable Trust Company of New York, formerly a St. Paul man, said on a trip West last week: “I am pleased to note the great growth and splendid development of the Twin Cities and the Northwest and I can assure you that we people of the East have our eyes in this direction. We realize the wonderful possibilities of this country. I believe that in the next few years thousands of dollars of Eastern money will be sent here for investment.” Thinks Central Bank will Never Be Charles D. Dickey, the New York banker and financier, said in Minneapolis of the central bank of issue and “Baltimore” idea: “The proposed central bank of issue is not a solution, and it would not work out as its proponents say it would. The so-called ‘Baltimore’ idea is preposterous. It would give to the national banks the right to issue bank notes during a stringency, in amounts not controlled by the central government, but for which the government, in the end, must assume responsibility. That would mean a return to the days of wildcat banking, and is not at all in keeping with modern notions of correct and safe banking. “I do not think there will ever be a central bank of issue established, as too many reasons for not doing so have already been presented.”