The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1906-09-28
> ~~%~~%~~~~~~~~4~<
BANKING INTEGRITY.

y impractical people enc frequent
o - hears the argument shat
= banks are unsafe rs u repOsi-
. tory for the savings Of the
. masses. II il apparent TO all
= fair minded mea thaf sueh an
= argument is not based upon
= any tangible ethics or principles
. Of financial economics.
= II is trEe iaat very often, Ctoo
= often In facfD, the confidence of
. the people Is shattered by the
= failure Of bank and they see
. their hard earned and boarded
= wealth swept away. But this Is
= merely incidental.
= Banks. like other institutions,
= are owned and controlled by hu-
= man beings, and are therefore
= susceptible to the vagaries and
= uncertainties of the human
= mind. Ia is not surprising that
= among the vast aggregation OF
. men who are intrusted with tIe
= care of public or private funds,
= that now and then one may he
= found corrupt and untrastwOF-
= thy. 1t should not be drawn
= from this however. TINT every
> man who handles the savings of
= the people is devoid of honor
. and is incapable OF resisting the
. insidious promptings of the
= voice of temptation.
= As statistical illustration 1t
= may be pointed out tkat not one
. half enc per cent of the banks Ia
9 America have ever been ia diff
= Guilty. A banker Is the custodian
. of the depoSitor's money and his
y duty fs pialEly defined by our
banking laws. Unless he holds
. unswervInEIy to the line, dis
= astcr in some fern er other Is
= inevitable. A careful ard con-
= sentative method Of investing
= money must be followed; NO
. loans should be made ON securi-
= ties unless they are gilt edged,
= and money should not be loaned
. to private individuals on their
9 personal note without reliable
y indorser of financial responsible
= fty
q The pernicious, dangerous and
= dishonest habit Of peFverting
= fHRds for personal use, whether
. il lee for legitimate purposes or
= otherwise, muse ne avoided.
y ApropOs Of the recent stems
= land scandal, we have an object
= lesson In the ruin, and misery
= caused by one mans disioynIty
= to the trust imposed upon him.
= - -
= by this dIsgraeeRuI affair WAS
. confined 10 Al local community,
= bat the moral effect was wide
y spread and far-reaching. with
= no intention 60 RlInimfze the
= gravity of Stensland's crimes, let
. 1t be known that his downfall
= was caused more from fnjudi-
= eiOus and absurd speculative in
= vestments than the result of any
= personal extravaganza. As yet
q 1t does not appear that he
/ = squandercd the banks money in
= wild and riotOus living. Had 1t
= not been for his numerous CO.
. operative schemes and to eryst-
y aIixe the Utoplan idea of creating
= around himself Il sort of finnn-
= ciai solar system, he would to-
q day be an honored and respected
/ q citizen instead Of an execrabIe
= wretch, condemned and despised
= by all honest and Iav-abIding
. men.
q Mankind is memorable ia his
= condemnation and criticism of
= the other fellow. When one Is
. hurt, especially If it be in the
9 region OF the poel5et-book, he
. so easily cultivatcs the habit of
. stigmatizinE e-ybody and
q everything as bad and dishonest.
. As practical appeal TO the
y common sense of the people of
= Hammond ana Lake county, let
= the record and character of the
= gentlemen who conduct car f.
y nanciaI institutions stand as "a
= direct refutatiOn of the growing
= popular belief that all men are
= knnves. Hammond has never
> suffered the humiliation of "a
. bank failure. While il is true
= that years ago one of our banks
q was obliged to close its doors,
= the embarrassment was caused
= by mIsmanaGement and not by
= the dishonesty of anyone con-
nected with the institution. Net
= depositOr lost n dollar. To-
day, our banks are in solid
condition, with large capital
stock and with substantial
. surplus OF undivided profits, and
the fortunate holders Of thesI
= stock are regularly receiving
= handsome dividends on their in.
. VeSfments. The gentlemen whC
control and manage these insti.
tutionS are well known men o.
the highest integrity and bust.
ness ability. OF simple but en-.
gaGinE personality, they are ths
= type Of men TO inspire conf.
5 = denec and trust. and their un.
S = svePYIHS fidelity 10 the bushes.
2 = interests CT oar city. entitIe,
r = them 10 the respect, admiration
Q and confidence of the commun.
r = ity. w. j. =.