13
THE CHICAGO BANKER
December u, !pop]
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
C 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	Ш p %	Vice-Pres. & Cashier
Z0HETH S. FREEMAN	־ -G. ^ ' G / GillV.11	FRED’K P. McGLYNN
Vice-President |		Ass’t Cashier
HENRY P, DAVISON		HENRY S. BARTOW
Chairman Ex. Com.		Ass’t Cashier
CAPITAL, SURPLUS AND UNDIVIDED PROFITS
$ 3,500,000.00
is growing in the commercial world, a mutual and voluntary co-operation for the benefit of participants.”
Remodeling Bank of Commerce Building
The remodeling of the Bank of Commerce building for the occupancy of the Minnesota Loan and Trust Company and the cutting of a passageway into the Northwestern National Bank building adjoining is under way. The trust company will move early in the year.
Considers Bank Statements Indication of Prosperity
J. B. Galarneault, state bank examiner, considers the showing at the fifth call for statements of banks to be creditable to the banks and an indication of growing prosperity. The total resources are $6,000,000 more than a year ago and $20,000,000 more than they were two years ago. There are thirty more banks, not counting five private banks, either converted or merged with other banks. At the call there were 646 state banks, compared with 616 state banks and five private banks in 1908 and 502 in 1907.
The report shows the total resources to be $I03>343543־• The liabilities are divided in part as follows: Capital, $12,257,500; surplus, $2,671,138; undivided profits, $1,232,328; deposits subject to check, $32,054,244. The capital increase is $7,000 in a year and the check deposits $40,000.
,V»
Banks will Combine
Hopkinsville, Ky., December 6.—The Planters Bank and Trust Company and the Commercial and Savings Bank will be consolidated on January 1st under the name of the Planters Bank and Trust Company. The capital stock will be $150,000, the combined capital of the two banks, and the officers will be: President, James West; vice-president, T. J. McRey-nolds; cashier, A. H. Eckles; chairman of the board of directors and manager trust department, J. F. Garnett. The present quarters of the Planters Bank and Trust Company will be used. The consolidation will leave four banks in operation here.
First State Bank of Rio Grande
The First State Bank Rio Grande, Tex., has been chartered with a capital of $10,000. W. L. Smallwood, Otto S. Houston and J. G. Philen, are promoters.
banking. The central bank proposition is to go back immediately to the centralized system of banking. The strenuous opposition to the measure in the West is due in a considerable degree to the impracticability of the measure, and also a fear of domination of the banking system by Wall Street.
“Furthermore one can find in the recent banking development certain tendencies which promise to give immediate financial relief, and which in all probability will tend gradually to a degree of centralization, as necessity demands in a country with 25,000 banks. There are tendencies toward federation in banking with clearing houses as the center of federation.
“In the panic of 1907 the New York banks, through clearing houses, took such a decided step toward regulating banking conditions that the student of American banking was reminded of the beneficent results achieved in New England in the last century through federation under leadership of the Suffolk Bank in Boston.
“Federation has showed itself in the Twin City and other American cities, notably Chicago, San Francisco, and Kansas City, in the form of reciprocal inspection of banks through inspectors of banks employed by clearing house associations. Federation, then, seems to be the best and most desirable immediate solution of our banking difficulties. Federation in banking is merely a condition in banking that
NOTICE
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
outside men stayed around the Minneapolis club and blew smoke and talked it all over until Sunday night when they left town. The strangers were Ralph Van Vechten, Homer A. Miller, J. D. Easton, Henry A. Carpenter and the Clinton twins, C. B. Mills and J. H. Ingwersen. Samuel Felton, president of the Great Western road, and W. A. Gardner, president of the Omaha road, were present at the dinner.
Bank Review Retrospective
Senator N. W. Aldrich in retrospective is presented in the December number of the Northwestern National Bank Review as follows : “Senator Aldrich gave his hearers a strong impression, not only of his profound knowledge of the financial question, evidently derived through thorough study, but also of his ability to view the question not only from the practical standpoint of the individual business man, but also with the interests of all sections of the country at heart. Evidently his wish is to assist in the development of some plan to bring our monetary system up to the point where its usefulness shall be commensurate with the importance of the business interests of the nation. He offered no definite suggestions, but only asked for the co-operation of all business men and good citizens in working out some plan along lines to be agreed upon later.”
C. C. Dinehart Candidate for Congress
Clarence C. Dinehart, the Slayton banker, also the state treasurer, has come out definitely as a candidate for congress against W. S. Hammond, the democratic incumbent at Washington. Mr. Dinehart got into office four years ago with a little opposition and his majority two years later was even larger.
Federation in Banking
Federation in banking־, which is growing in the United States, is the solution Professor Raymond V. Phelan of the department of economics and political science offers of the banking problem. Professor Phelan says:
“Theoretically the central bank is the best solution of the banking difficulties, but considering the merits of the proposed measure of reform account must be taken of the historical development which has evolved the intricate system we are trying to remedy.
“The United States since 1836 has labored under an extremely decentralized system of