[Volume XXVII
THE CHICAGO BANKER
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If You Desire to Collect Your Out-of-Town Items Promptly, Send Them to The National City Bank of Chicago Correspondence Invited The National City Bank of Chicago Capital, Surplus and Undivided Profits $2,000,000 OFFICERS David R. Forgan, President L. H. Grimme, Cashier Alfred L. Baker, Vice-President W. D. Dickey, Assistant Cashier H. E. Otte, Vice-President A. Waller Morton, Assistant Cashier F. A. Crandall, Vice-President R. U. Lansing, Manager Bond Department			Pioneer Pays Promptly /^\NE of the things that have made the Pioneer Life Insurance Co. grow so rapidly has been the promptness with which it pays its death claims. The business policy of the company is to make a careful medical examination, thus securing preferred risks, and then to stand by our hazards accepted. No quibbling, no delay; but always prompt and courteous with CASH IN FULL the day proofs of death come in. Annual Rates per $1,000 for Either Men or Women Age 20, per year . $10.00 Age 40, per year . $12.39 Age 25, per year . $10.22 Age 45, per year . $14.26 Age 30, per year . $10.64 Age 50, per year . $17.08 Age 35, per year .' $11.27 Age 55, per year - $21.78 Other Ages in Proportion The Pioneer Life Insurance Co. GEO. L. COLBURN, President, Pekin, 111.
			
Pacific Northwest Banking¿ News
367.76; on city personal, property, $262,008.64, on county personal property, $37,134.42; on corporation personal property, $176,913.28.
Ten Per Cent Dividend Paid
Ten per cent dividends have been ordered from the receivership of the defunct Farmers’ and Traders’ National at La Grande, Ore., making a total of 53 per cent realized for the depositors. It is expected that 10 per cent more will be secured, though it may be a year before the next dividend is paid.
Elected to Presidency
M. S. Corrigall has been elected president of the First National of Heppner, Ore., to succeed C. A. Rhea, and J. B. Natter was chosen vice-president to fill the vacancy caused by the resignation of T. Rhea.
Demand Inheritance Tax
T. D. Rockwell, state tax commissioner of Washington, has made a demand upon the administrator _ of the estate in Washington of Marshall Pield of Chicago. The property is valued at $200,000, but the inheritance tax has not been paid. The state will demand its 1 per cent tax and interest at 6 per cent, or approximately $2,300, from a time 15 months after Field’s death. The inheritance tax now yields an annual revenue of $100,000 in the state.
Banking Notes
Matthew C. Smith of New York, of the bond department of the Kansas City, Mexico and Orient Railroad Company, has come to Spokane on business for the company.
James C. Hankins has been elected vice-president of the National State Bank of Boulder,
The name of the Dade County State Bank, West Palm Beach, Fla., has been changed to the Pioneer Bank.
A. M. Chreitzberg and T. M. Evins, are vice-presidents of the First National, of Spartanburg-South Carolina.
Wenatchee; Spirit Lake State Bank, Spirit Lake; Calispell Valley State Bank, Usk; lone State Bank, lone; American Loan and Trust Company, Coeur d’Alene; First National, Mullan, Idaho; First National, Whitefish, Mont., and the State Bank of Kootenai, Idaho.
Railroad Bond Issue Sold
Z. A. Johnson, president of the Nez Perce and Idaho Railway Company, has advised business associates in Spokane that a bond issue of $125,000 has been sold to Chicago parties and that as a result the road between Nez Perce and Vollmer, Idaho, will be completed and in operation early in March, 1910. The track work will cost more than $100,000. Work was started 18 months ago. The road taps important timber, wheat and mining districts and will do much to develop a portion of the North Idaho country in which it operates.
Over Fifty Per Cent Increase in Deposits
Bank deposits in Lincoln county, in the Big Bend wheat belt in Eastern Washington, total $3,289,228, an increase of $1,132,640, more than 50 per cent over September. By towns the deposits are:	Davenport, $820,389; Wilbur,
$56i,497i Sprague, $610,084; Harrington, $362,600; Odessa, $305,259; Reardan, $277,-484; Almira, $239,169; Edwall, $90,471; Cres-ton, $80,269; Downs, $25,000; Govan, $20,000. To Vote on Bond Issue
City council of North Yakima, Wash., has adopted an ordinance calling a special election for January 31st to vote on a bond issue of $310,000 with which to buy the water system of the Northwest Light and Water Company owned by Robert E. Strahorn of Spokane, president of the North Coast Railway Company.
Auditor’s Statistics
Statistics compiled by R. W. Butler, auditor of Spokane county, show the total value of county real estate, personal and corporation property is $94,321,400. The tax on these is $2,809,424.11, as follows: Real estate, $2,333,-
Spokane, Wash., December 14.—Trustee Company of Spokane paid its regular quarterly dividend and a surplus dividend of 2 per cent for the year, aggregating $27,421.10, on December 10th. This is the 10th dividend, bringing the amount distributed among unit-owners in the Wolverton, Hyde and Eagle buildings to $98,040.63. The next dividend will be paid on March 10th. Harry A. Flood, president of the company, announces that with the surplus the units in each of the three buildings have earned cash rentals equal to more than 7 per cent on the original investment and in addition to the accrued increased values. The sales have now passed the $1,000,000 mark, the company controlling and managing business properties with a total frontage of 631 feet.
Union Securities Company
Union Securities Company, with a stated capitalization of $600,000, has been organized as a holding company for 20 country banks in Washington, Idaho and Montana, with headquarters in the Paulson building, Spokane. J. D. Bassett, president of the First National of Ritzville, and member of the state senate from Adams county, is manager. D. W. Twohy, head of the Old National, is president, T. J. Humbird, president of the Humbird Lumber Company, being vice-president. Among the stockholders are Jay P. Graves, president of the Spokane and Inland Empire Electric Railway system; Patrick Welch, F. B. Grinnell, William Winters, Thomas L. Greenough, Frederick Weyerhaeuser, J. C. Cunningham, secretary-treasurer of the Union Trust ״Company; F. A. Blackwell, president of the Idaho and Washington Northern Railway Company. The banks controlled by the company are: The First National, Ritzville; Bank of Lind; First National, Connell; State Bank of Connell ; Farmers’ Bank, Hatton; Kiona State Bank, Kiona; State Bank of Prosser; Union Bank, Granger; Warden State Bank of Warden ; Othello State Bank of Othello; State Bank of Odessa; First National, Odessa; Citizens’ Bank, Wilson Creek; First National,