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THE CHICAGO BANKER
December 18, 1909]
can shoe stores,” “American lunch rooms,” “American bars,” and an American dollar looks like real money almost anywhere.— George Woodruff, “Globe Trotter.”
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believe the reward was not paid in over due trading stamps.
T OHN E. STATER, of Columbus, Ohio, had J a sure tip on the stock market, which called for $1,000 cash money. He was a bank teller and made himself a loan which was discovered and on Monday he got six years, in which to think it over while making rush bottom chairs.
Rinehart’s bank at Waynesburg, Pa., will not be blamed for some slight leniency now that he has married a Rinehart daughter.
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spond to the law of supply and demand. When the business community begin to sacrifice their assets to realize cash, the volume of money should be increased; when the business community begin to hold everything at high and rising prices (i. e., the demand for money falling off), the volume of money should be decreased. This course, which would soon give us a stable currency, can only be made possible by the government, because the bankers go by the demand for loans.—C. T. Libby.
is going up from Jefferson City to become a part of the new National Reserve Bank. Hopes are that the new institution will be under way by March 1, 1910.
i^vyrHEN you are thirsty for a drink eat an ” apple,” says a new authority. At least you can try this when in prohibition territory some time.
reason that he wore side whiskers and a ministerial garb. Never knew but few men who were studiously pious in their dress who really were pious in their entire conduct.”
a comparatively few years if it does not change its agricultural methods. The emphasis is all on that conditional clause.—James J. Hill.
W~
ing the corner of the Masonic Temple one of these windy days.
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members. Iowa is in the Interstate Protective Association, the best of its kind in existence. Iowa is in the National Surety Company for burglary protection, the best of its kind in existence. Then what Mr. Dinwiddie wants his subjects to do is to “keep looking out” for a bunch of crooks which he has described at length, and when anything happens to let him know “immediately”—you are to imagine the “immediately” to be in red ink and underscored several times.
Minneapolis.	Cashier.
exist without state supervision, are known to be large dealers in farm lands, and investors in local enterprises of various natures. The bank merely supplies the funds for private business dealings, and the profit, in many instances, from the banking business itself is of minor importance to the banker. Why are such enterprises permitted to exist? Because the private banker is a man of consequence in his community, and not without a political pull at the state capitol.—Commercial West.
A WESTERN savings bank, in a farming community uses this on their letters to would-be customers:
There was an old man who hid greenbacks In an old stone chimney full of cracks.
He lighted a fire and felt quite blue When he saw his money “go up the flue.”
HAVE you seen anything of the Gulf coast banker lately?
ANOTHER reward of $100 has been offered by the Ohio bankers for a crook who has been upsetting the confidences of another good county banker with bad checks. Our good friend “Billy” Pinkerton holds, you remember, that the offering of a reward is quite as reprehensible as was the commission of the crime. That was when he still was employed by the A. B. A. Fact is, the reward system gives everybody a chance but the crooks, and the Pinkerton plan gives nobody a chance but the man who is employed—and there you are.
SECOND annual meeting of the Nevada Bankers Association at Reno, December 17th and 18th. Theatre party first evening and banquet the second evening at Riverside Hotel.
ARTHUR B. SHELTON, secretary of the national monetary commission, has begun to send out the reports of the proceedings of that body and is a wide-awake man in general. The publications, in press, when issued will constitute a most valuable library on finance and banking and ought to be placed in every public library in the country.
WE know one very particular man who never did believe in the accuracy of the Cook “observations” after he saw that Cook wrote “latt” as an abbreviation for latitude. Andrew Jackson could have gotten away with such an “error” but his honesty in other matters than spelling had not been questioned.
JW. ITOOPES, of the Texas bankers sends • out notices that the next annual convention will be held at El Paso on May 10th and nth, 1910. This comes pretty nearly being first on the list and a delightful season of the year in which to visit Texas. Texas conventions, too, are of the attractive kind, having good speakers and live entertainment. Put Texas on your list.
NOTICE to the Gas Company: For a small consideration we can point out to you a block-long piece of brand new street paving which you excavators have overlooked. No, it isn’t a boulevard. It’s open territory.
HOTEL GRAMATAN is getting a good ad out of it and Dr. Cook has shown an easier way to make explorations than was used in any of his previous operations.
IT is gratifying to Americans to find that American -commercial influence is rapidly spreading over the entire world. The sign “American” hangs over numberless shops in nearly every foreign, city. There are “Ameri-
BYRON L. SMITH (president of the Northern Trust Company)—From what 1 have read of the message I think well of it. As to postal savings banks, I would want to reserve my judgment until I know what the president would have the government do with the money after it gets it.
HARRIS TRUST AND SAVINGS BANK, N. W. Halsey and Company, A. B. Leach and Company, and E. H. Rollins and Sons jointly were the highest bidders for the $4,000,000 5 per cent bonds of the city of San Francisco, Cal. The bonds for the most part will be dated July 1, 1908, and the proceeds will be used for various municipal purposes.
LEON M. ALLEN will be remembered by those who made the Denver trip to the A. B. A. convention in The Chicago Banker special. He went the route looking out for the comfort of all—over the Rock Island Route. He then was general passenger agent and now is passenger traffic manager, a jump ahead for a good man.
DIRECTORS of the State Bank of Chicago have declared the regular quarterly dividend of 3 per cent, payable January 1st, and also ordered transferred from undivided profits to surplus account the sum of $500,000. This addition to the surplus makes a total of $1,500,000, or the equal of the bank’s capital stock.
SEVERAL hours before the United States deputy marshal bearing a warrant for his arrest on an indictment charging complicity in the First National Bank frauds, could reach Mineral Point, Calvert Spensley, president, slipped out of town on the 1:20 train.
KNAUTH, NACHOD & KUHNE of New York, are to this extent converts to the irrigation bond as an investment. They say: “The tendency of the public to look for a higher interest rate is strengthening the demand for irrigation bonds and similar issues yielding from 5to 6 per cent. This inquiry always arises at a time of advancing discount rates, and it is natural that investors should expect a larger interest return under such conditions as now prevail. We believe that the new irrigation bonds peculiarly meet these requirements, since they provide a liberal interest return and are thoroughly well secured. These securities are being fast absorbed by discriminating investors.”
aw/HAT to do in case of trouble” is a very W popular department in our automobile contemporaries, but would be out of place in a banking paper. In case of trouble in a bank it is either skip or take your medicine.
THOMAS W. LAWSON telegraphed a Philadelphia newspaper that he was puzzled to know whether it needed an emetic or a physic but one thing sure, “you have golly wobbles in your think bin.” The following complete paragraph from the editorial page of a New York banking paper is herewith submitted to Thomas to learn if he thinks the “golly wobbles” have reached the metropolis? 44QOME banks are out of pocket many thou-O sands of dollars annually, by allowing themselves to be utilized in the manner described, practically in a game with the customers of ‘heads I win, tails you lose’!”
—Financial Age.
MANY proprietors of private banks in states where such banks are still permitted to