31
Interest
CHICAGO BANKER
Accrued
December n, !pop]	THE
At Par and
bank are charged by Allen with using false entries in the books to cover up the misuse of the bank’s funds. He now says that when he compelled them to sell their mining shares, bought with bank funds, that they did not reimburse the bank but kept the money.
״
It is hard for a dishonest bank staff to stop when once started in the wrong direction. Walsh and Morse are conspicuous examples.
*
׳ Company “took everything in sight” and the head of a large Brooklyn insurance company has been removed for private use of funds of the company in speculation. “For twenty-five years the company was not examined by the state,” say the reports. The delinquent president, now removed, was in politics as treasurer of his party and there you are.
I,
*
failure. Thus we snatch at every little thing in the way of evidence.
|
(going) to China. There is a difference in salary and in talkative propensities. Mr. Crane was the Record-Herald man, whereas Mr. Calhoun is of the Tribune incubator.
trailer of the currency is the agent of the government for the examination of national banks. John A. Corbett was the cashier of the First National of Ladysmith, Wis., and he and others of the bank were indicted on the charge of making a false entry in a report to the comptroller. The United States district court for the Western district of Wisconsin, in which court the indictment was found, dismissed the complaint on the ground that the comptroller was not an examiner as contemplated by the statute. The supreme court’s decision was announced by Justice White, who said the comptroller is an agent of the highest character.
Of these, 219 are republicans, 172 democrats— 47 more, and with the republican speaker in the chair a republican majority of 46. Now, strange to say, there are 47 republican insurgents. By this strange coincidence the case does not look so hopeless as it did.
schools” are doing the trick for the elder dreamers. Down state a fine cobbler took a long-distance law course and began accepting fees as an attorney. Fie now is locked up and his family a public charge.
Trust Company $150,000. It does seem as if it got off rather light
!,arsons who accused Speaker Cannon of having made a dicker with Tammany, that congress will investigate the sugar trust and for no other reason.
from Oklahoma. It soon will be time to inquire whether or not the “bureau” hasn’t lost its grip?	The Bond Man.
tory, as well as that of many modern nations, clearly demonstrates that the correct solution of the problem involves the creation in the United States of what it never has had—a central bank, for banks only. A bank which, while possessing the power of rediscount and of note issue, shall be in no sense a duplication of the privileged but. privately owned ‘Bank of the United States’ destroyed during President Jackson’s administration. Such an institution long ago passed the experimental stage. The claim that it is an intricate piece of monetary machinery, unsuited to the peculiar requirements of the United States, is mere subterfuge. Economic laws are neither geographic nor ethnologic in their operation, and no people are quicker than those of the United' States to understand and adopt improved methods in all fields of human activity. That they are not indifferent to the situation is shown by the fact that appeals to congress for currency and banking reforms have been made persistently for nearly half a century, during which period a score of nations have instituted and perfected central banks, vastly to their benefit.”
DR. NIVER, head of the great house of the • Trowbridge & Niver Co. in the First National Bank building, Chicago, has a lot of fine colored views of the irrigation country which he will send you for the asking. Better far than a trip to the Land Show.
EFFICIENCY so far as a bank is concerned is not arrived at by paying big dividends to the stockholders. Doing things for the community is a part of every bank’s business. Bankers will do well to not let the farmers wear out their soil. They must help new enterprises and suggest new openings for outside capital. Every banker should boom his own town and thus build up both bank and community together.
HERBERT W. BROUGH, assistant to Mr.
Blum in the country banks department of the First National, died at his home in Hinsdale, Illinois, on Tuesday. The immediate cause was pneumonia. Mr. Brough was for several years the convention man for the First and had a very wide acquaintance.
AN ex-vice-president of the First National staff, George D. Boulton, was buried on Tuesday of this week the funeral being held at 2 o’clock in the afternoon in Trinity Church, Highland Park. The active pallbearers were W. L. Street, W. McM. Rutter, F. P. Boynton, H. A. Towner, James Smith and R. H. Street. The honorary pallbearers were J. B. Forgan, E. Iv. Boisot, August Blum, Holmes Hoge, W. D. C. Street,- C. A. Street, J. S. Seymour, Charles S. Diehl, Francis C. Brown and William Morgan.
IN connection with the merging of the Union Stockyards State Bank with the People’s Trust and Savings Bank of Chicago, the latter has conveyed to the People’s Sockyards State Bank, the new institution, the property at the Northeast corner of Forty-seventh Street and Gross Avenue, 125x125 feet, with two story bank and office building, at a valuation of $70,-000. The two banks have been at this corner for five years.
AT least three bogus check swindlers were arrested in Chicago on Monday. So far as we know it ought not to cost Col. Farnsworth anything in the way of “co-operation expenses.”
CROOKED banking at Mineral Point, Wis., is having an airing. May it benefit the cause in..some way, is the hope of every honest banker. Most of the officers of that
THE board of education of Colorado Springs has called a special election to be held on December 18th to decide the question of issuing bonds in the sum of $250,000 for the purpose of erecting a new technical high school, increasing the facilities of ward buildings and making other necessary improvements.
TAMES H. OLI I’ll ANT & CO. of New »J York, have opened a branch office in Chicago in the Rookery building.' The members of the firm are Alfred L. Norris, Floyd W. Mundy, and J. Norris Oliphant. Mr. Mundy has become a member of the Chicago Stock Exchange. He is author of “Earning Power of Railroads” and other financial articles. The Chicago office will be under the management of John J. Bryant, Jr., until recently secretary of the Farwell Trust Company.
LE. STEVENS of Ottumwa, la., was in • Chicago the greater part of the week, attending to business in part, shopping for the holidays and calling upon old friends. One powerful bank man took L. E. “up into a high place” and showed him a chance to come to Chicago. Fie may come when the “offer” is right. Several banks “want an Iowa man” and Mr. Stevens is about as good as they come.
BANK advertising “experts” are in a class by themselves. They have all the nerve, perspicacity and lack of tact that other advertising experts have in such munificent proportions to their real equipment, but they have more. They are humorists. They expect to be taken seriously even when they write to an aged and conservative bank president as follows :
4*IVl ^ Dear Sir:—There’s money in it for IV1 you. Take it from me.
“But kindly hear me out.
“If it has■ never occurred to you that you could buy at a low rate much better “stuff” with greater variety of style and diversity of thought and originality of treatment of the subjects at really a material saving of real money then allow me to suggest that you think it over, and fatten your bank account at my expense.”
ABOVE only are the opening paragraphs of a very long letter, if you could call it that, and suggests that but few banks would be willing to have such rot go out over their name. We quote the experts concluding line —•“How about it?”
MANAGER LAWTON, of the foreign department of the Commercial National, is heading a movement toward having all Chicago banks agree upon uniform charge to the public and to country banks on Canadian currency and silver. Mr. Lawton has been much encouraged and his plan likely will be adopted.
MR. LAWTON in speaking of the matter, said : “In view of the increasing amount of Canadian money passing through Chicago, and on account of the heavy expense incidental to handling it, it is unfair to the banks that they should be expected to accept so much of it at par.”
Uw/lIEN A MAN MARRIES” is the new-W est Bobbs-Merrill book and it is by Mary Roberts Rinehart who wrote “The Circular Staircase” which kept many good people awake nights. She also wrote “The Man in Lower Ten.” Don’t get the new one unless you are willing to sit up to finish it. That’s her peculiar gift.
FISK & ROBINSON in the band wagon!
iiere is an extract-from their December circular:	“A study of our own financial his-