[Volume XXVII
THE CHICAGO BANKER
30
THE CLASSIFIED SERVICE
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.
BRITISH COLUMBIA LANDS
— Alon¿ the Grand Trunk Pacific —
the Last Great West. We know the teriitory, and have seen the land. Can offer tracts from 5,000 to 60.000 acres at low prices. Glad to give particulars.
Williams & Murdoff, Ltd., Vancouver, B. C.
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.
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.
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 lor 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.
Investment Bonds. By F. Lownhaupt. Post paid, $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 theorize, 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 ol 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, $i.io.
The Monetary and Banking Problem. By Logan G. McPherson. i2mo. Cloth, $1.00. Postage, ioc.
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.
“An Island Secret” for Boys
Books for boys are at a premium m the twenty or more shopping days before Christmas. Earl C. McAllister has provided a great treat for the fortunate in his “An Island Secret." The boys who last year left “On Tower Island” in great suspense as to the fate of some of the men and boys with whom they had been acquainted, as to the meaning of the two cipher letters and as to the whereabouts of the treasure which was supposed to be hidden on the island, may now have all these queries answered in Earl Cabot McAllister’s “An Island Secret” (Dana Estes & Co.). Like its predecessor, this is a book of exciting adventures, beginning with the search for the second cipher letter. This is known to be in the possession of a desperate man, who, having been discovered, gives the boys a hot chase for what they want. Of course, much of the narrative is occupied with excursions of this character, one flight but opening the way for another, but they are well planned and carefully executed, and are provided with an interest that will surely stimulate the youthful reader to hasten on toward the end. Little serious work may be accomplished while the boy is in the course of the story, but the narrative has many other things to recommend it and nothing to condemn it, from the point of view of parents.
Published by Dana Estes & Co., Boston, and for sale at all book stores at $1.50.
V
Consolidation at Amarillo
The Western Bank and Trust Company and the Amarillo National, of Amarillo, Texas, have consolidated, the change having gone into effect November 1st. The business goes on under the name of the Amarillo National.
V*
Bank Notes
The Hazleton State Bank of Hazleton, Kan., has been purchased of O. Q. Chandler by H. J. Beitel of Wellington and his son-in-law, 1. I I. Shaggs. The consideration is between $25,000 and $30,000.
The promoters of the Bank of Greene County, the new bank which will be installed in the corner room of the building belonging to the First Christian Church at College and Campbell Streets, Springfield, Mo., hope to be able to open the bank by November 20th.
Conservation Row Growing
The conservation row is daily augmenting, and the demand for a congressional inquiry already is insistent enough to warrant the prediction that the matter soon will bob up in either the senate or the house. What makes it all the more certain is that Ballinger is to ask congress for legislation more adequately defining the disposition and development of the public domain, particularly with regard to the conservation of water power and mineral resources.
Investigation of the smuggling scandals at New York is looked upon as a certainty. These exposures have shocked the whole country, and congressmen confess they have been hearing a good deal about the matter out among their constituents. Investigation of the civil service already has been broached by Senator Borah, who has pending in the senate committee on audit and control of contingent expenses a resolution providing for an inquiry into the “enforcement and administration of the civil service law, rules, and regulations.”
No investigation ever made bv. the government is more sweeping than that of Secretary Mac-Veagh in connection with the customs and internal revenue service. From New York to San Francisco, from the Canadian frontier to the Gulf of Mexico and the Mexican boundary the government agents are at work to ferret out fraud.
Already there have been brought to light gross corruption and methods of cheating the government amazing in their extent and colossal in their profits. The American Sugar Refining Company, the “sugar trust,” already has disgorged $2,500,-000 which it stole from the government. The statute of limitations bars the government from collecting millions more from this same enterprise.
But the sugar trust is by no means the only offender. Concerns which have no connection with it have benefited by frauds similar to those it committed. Other millions will be handed over to the government by them before the treasury department shall have completed its work.
V•
W. W. Lee takes the place of L. C. Brand as president of the First National. Glendale, and M. P. Harrison is made vice-president instead of Dan Campbell, and Ed M. Lee, cashier, in place of E. F. Iveatinge.
Washington :	The Sixty-first Congress
(Continued from page 9) necessarily lead to the development of a definite program. ’ What legislation is now practically-assured and what is still dependent upon the influences of circumstances must be discussed at a later point.
An Investigating Body
The regular session of the sixty-first congress bids fair to go down in history, if for nothing else, as the greatest legislative inquisitor of a generation. Both senate and house are loaded up with question marks, and each has in view a number of candidates for the rack. Subjects which promise to undergo congressional investigation are:
Charges by Parsons of collusion between New York Republicans and Democrats in election of Speaker Cannon.
Conservation imbroglio between Ballinger and Pinchot.
Operations of sugar trust in violation of law.
Customs frauds, and responsibility therefor.
Merger of telegraph and telephone corporations.
Operation of law imposing tax on oleomargarine and charges of wholesale evasions of tax.
Charges of laxity in enforcement of federal civil service law.
Expenditures of executive branch of government with a view to retrenchment.
Charges against Judges McPherson and Phillips in connection with Missouri freight rate litigation.
Expect Little Constructive Work
As the day for the convening of congress approaches there is less talk of constructive legislation and more of investigation. A good many leaders believe the president will be lucky if he gets his interstate commerce amendments passed and are sure nothing else will be done except to pass appropriation bills. The theory is that the average congressman will prefer to take no chances on constructive legislation before going into his campaign for renomination next summer.
The insurgents are keen for an airing of the Parsons charges that Tammany congressmen were induced to vote for Cannon for speaker in return for the killing of election legislation by-republicans in the New York legislature. A demand for an investigation is bound to come from insurgent quarters at no distant day.