[Volume XXVII THE CHICAGO BANKER 28 Marshall & Ilsley Bank Milwaukee, Wis. ESTABLISHED 1847 Capital $500,000 Surplus $370,000 Oldest Bank in the Northwest Conservative Progressive We take pleasure in placing our facilities at your disposal and should be pleased to have you write us if you are contemplating opening either an active or a reserve account in Milwaukee. OFFICERS AND DIRECTORS JAMES K. ILSLEY, President JOHN CAMPBELL, Vice-President HARRY J. PAINE, Asst. Cashier JOHN H. PUELICHER, Cashier G. A. REUSS, Mrfr. South Side Branch SAMUEL H. MARSHALL J. H. TWEEDY, Jr. ROBERT N. McMYNN C. C. YAWKEY GUSTAV REUSS The Audit Company of Illinois 1439-42 First National Bank Building, Chicago Specialists in Auditing and System״ atiginfi Pulblic Service Corporations C. W. KNISELY, C. P. A. President—Manager REFERENCES: Leading Bond Houses dealing in Gas, Electric and Railway Securities Gift for Depositors Checks covering a further dividend of 5 per cent for the depositors of the defunct Cosmopolitan National were sent out yesterday by Receiver Robert Lyons. The total will amount to $30,000, and the checks will come in the nature of real Christmas gifts to most of those who suffered b ythe closing of the bank. The payment of this dividend makes a liquidation of 60 per cent of the bank’s indebtedness, or ovver $1,000,000. Receiver Lyons still has many of the affairs of the bank to untangle, but is of the opinion that after his work is completed the depositors will have received nearly dollar for dollar. Baltimore Banker Dead Baltimore, December 20.—•While descending the stairs at the Pimlico Country Club last night, William R. Hammond, president of the Third National Bank, member of the Baltimore Chamber of Commerce and owner of the Pimlico race track, was stricken with heart failure Fill Vacancy at Minnesota Lake Chas. W. Borchert, cashier of the First National, of Mapleton, Minn., has been elected to succeed O. H. Schroeder as cashier of the First National of Minnesota Lake. V Assistant Cashier Resigns J. Stoddard Johnston, Jr., assistant cashier of the National Bank of Commerce, Louisville, Ky., has resigned, and will enter into the business with the brokerage firm of S. C. Henning Covington, Ky.—Negotiations looking toward a merger of the First National Bank have been pending for several days. The name the merged institution will go under has not been made public, but it is stated the First National will not lose its identity. The consolidation will result in the forming of one of the strongest banks in the State. San Francisco, Cal.—J. C. Kirkpatrick has been elected a director of the Wells-Fargo Nevada National Bank to fill the vacancy caused by the death of E. H. Harriman. Milltown, Ga.—The Farmers and Merchants Bank has begun the erection of a new bank building. Banking Notes The First National of De Land, Fla., will open for business during January, 1910. The Darby (Pa.) Guarantee and Safe Deposit Company is being organized with a capital of $125,000. R. K. Wheeler, formerly in the banking business in Latah, Wash., with D. T. Ham, of Spokane, and later in charge of a bank in Harrison, Idaho, has joined the Security State Bank at Palouse, Wash. Vice-President Thompson Resigns New York, December 23.—John F. Thompson has resigned as vice-president of the Bankers’ Trust Company on advice of his physician to take a much needed rest, but will continue as a director. Mr. Thompson was born in i860 on a farm in Chautauqua county, New York, and has been in business about thirty-two years. He began his active banking career in Bradford, Pa., 1878. lie came to New York in 1884, when he started with the Seaboard National. In 1887 he became assistant cashier of that institution and in 1890 cashier. This position he resigned in 1903 to become vice-president and active manager of the Bankers’ Trust Co. then organizing, which position he has held up to this time. Besides the Bankers’ Trust Company he is a director in the Astor Trust Company, Rock Island Company, Summit Trust Company, Malthie Chemical Company and other corporations. V Terms of Surety Merger Terms of the merger of the Pacific Surety Company and the Western Casualty & Surety Company, both of San Francisco, whereby a new corporation was formed capitalized at $2,-000,000, provide that the stock of the two companies has been placed in escrow in the Metropolis Trust & Savings Bank, of San Francisco, to be retired at the agreed figure of $150 a share. The capital of the two companies was $250,000 each, with combined assets of $1.000,-000. F. B. Lloyd, president of the Western Casualty & Surety Company, will be made the president of the new corporation, which will probably retain the name of the older company and be known as the Pacific Surety Company. A. P. Redding, who is at present the secretary of the Pacific Surety Company, will retain the same office in the consolidated company. Cincinnati Chapter (Continued from page 17) modity credit for sale as any other business. Mr. Speer also says that the bank in planning an advertising campaign should do so with care and thoughtfulness, be prepared to carry out what it offers and that what is said should be presented in such form as shall be in keeping with its dignity. The talk was certainly enjoyed also Mr. Speer’s frequent intersperse of humor. An unexpected pleasure was ours also, in having a guest or rather an old friend with us in the person of B. C. Downey of Indianapolis, now cashier of the Continental National of that city. Mr. Downey is a “doer of things” as every one who knows him is aware. He is not stingy with his talk and always has something good on tap and is one of the sort of talkers who generally say something you can take away with you. The meeting was a good one and those who failed to attend missed something worth while. The Banking and Commercial Law Class is well attended and is running along smoothly. The Bowlers are hard at it and the enthusiasm is high. The holiday season is with us again and "the Cincinnati Chapter presents its compliments. V* Footville State Bank The Footville (Wis.) State Bank is the title of a new chartered institution. Capital, $20,-000. S. W. Lacey, W. O. Howell, E. H. Mat-tice, and M. R. Fish are promoters. V* To Open January 1st The new First State Bank of Littleton, Ky., will be opened January 1st. W. T. Pettus, Jr., of Ellisville, Miss., has been elected cashier and G. W. Moore, assistant cashier. The bank has a paid-up capital stock of $25,000. New Bank at Lone Jack A new bank has been opened at Lone Jack, Mo., recently with a capital of $15,000. Henry C. Cave is president and John D. Shawhan is cashier. Peoples Bank of Winston A new bank called the Peoples Bank of Winston is being organized at Winston, Mo., with a capital of $10,000 by George A. McWilliams, C. R. Osborn, R. C. Strong, and others.