The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1875-12-09
4 Bank that Pays 100 Per Cent. DITI'
Gends Some other Banks.


The Chemical Bank is the luekies
Bank, not only in this City. but in th'
world. This is taking broad sketch
but none too extensive. Let our read
ers contemplate the most lucrative OF
such institutions within the range Oi
their acquaintance. They val admit
that any bank which psys 10 peF cent
per annum does very well. It is moi
common to find any one that doubles
these figures, yet there are some of this
distinction. Fifty per cent. per annum
is an almost unheard of Dividend, that
is of regular occurrence fhs Chemi-
cal, however, does better than any OF
these figures. It's regular dividend for
some years is 100 per cent. per Rnnum;
or, in other words, every one that
owns a share (which costs 500, re-
ceiVes $l00 annually as his share OF
the banks profits. The explanation
OF this is found ia the fact that the
bank is doing an immense business on
small capital. Let US look for in
stance, at the Bank of Commerce,
whose capital is about SO, ,000, 900. LIS
deposits are about the :same as those
of the Chemical Bank, which b only
100000. Hence, the owners OF the
aforementioned obtain as much profit
as the owners of SO, ,0O0, 900 of the 9TH
er stock. Each of these banks have
aboutSS, ,000, 600 drawing interest. This
is o very nice thing for the big bank,
but how much better for the other.
The Chemical Manufacturing Works
were Incorporated 90 years ago, with
John Mason as President. The capf
tel was 100000 for the Chemical
Works, and $500, 600 for banking. The
manufacture of chemicals WAS begun
far up town but did not prove pFofita-
bic, and, though this was the chief OBJ
ject of the enterprise, 1t was abandon
ed. The bank was opened down town,
and john Mason was President, with
John @. Jones as cashier. The bank
did 3 very satisfactory business
though it reached no brilliant results
until after Mr.. Mason's death, which
occurred in 1910. Since then it has
been increasing in reputation and
credit. Business has Increased and
capitalists have sought 1t as place OF
secure deposit. In this way the prof.
its have grown in q steady proportion
until a regular dividend of 100 per
cent. is nov declared. There are no
large stockholders, the shares being
divided among fortunate circle. The
quotations of value are about 81, $50
per share, and there is standing Of
fer of 81 900 from a man who, no
doubt, expects to see it reach the val
ue of $1,000. 1 have seen its quota
tions gradually advance, aud when
$500 was the figure thought 1t enor-
nous. Since then sales were made at
81, 900, and at last at the above men,
toned figures. E.
A. r. Stewart is one of the fortunate
stockholders in the Chemical Bank,
which enjoys large part Of his de-
posits. Stewart always has a large
balance, and q few such men would
carry a bank on their shoulders.
James Lenox is another stockhOlder
and depositor. He has not desired
any prominence in the management,
but his nephew, Robert Lenox Ken
nedy, is one OF the directors. Mr..
Lenox keep a large balance, and is
a first-class depositor. Commodore
Vanderbilt keeps his railroad funds
here, and this is q very valuable re-
source. All large claims against the
Central, Hudson, or Harlem Roads
are paid by checks on the Chemical.
The reason why these solid men clus-
ter around this institution Is because
it is conducted on Cld-fasnioned prin-
ciples. 1t is safe.
HOW TO USE DEPOSITS.
The Chemical Bank has enough
money to discount all the good paper
offered by its dealers, and then it pur-
chases q large amount OF paper in the
street. This is done through brokers,
who are paid commission of I of l
per cent. The traffic in commercial
paper is immense, and probably the
sales equal Sl,000,000 q week. The
hanks purchase freely in order to keep
their floating capital employed, and
as the rates are from to 10 per cent.
per annum, the traffic Is highly profit
able. The excess Of interest forms q
fund to provide against Losses.
The widely prevailing rOttenness OF
the banking system in this city is
enough to alarm all who value the ss-
eurity of their deposits. The lot of the
banks which have been plundered by
their own directors is indeed startling.
In this list may be found such institu-
tions as the Artisans Bank, the Bulls
head Bank, and the Atlantic Bank,
which was robbed and ruined by the
cashier, Taintor. This scoundrel is at
present serving out q sentence in the
Albany Penitentisry. Reference also
may be made to the Bank of the Com
and the North River
Bank. The latter still lives, but 1t has
been severely depleted by its own of
fieers. Among the savings banks are
the Market, the Guardian, the Third
Avenue, Bowling Green and others.