Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-06-13
SUPREME court DEF|ED

there will be sold In Chicago during
the next few days at least 10000
pounds Of "lumpy Jaw" beef. How
much Of the same kind Of meat IL
shipped into Chicago from Kansas City
and other places where Its sale In pro.
hibited would be difficult to estimate.
but the quantity In undoubtedly large
In most Of the Eastern cities ordl.
uances are In force prohibiting the sale
Of meat from animals with actinomy.
COSTS, the scientific name for "lumpy
Jaw" Thus Chicago remains as the
only large market where that class Of
cattle may be slaughtered and sold with
profit.
The average weekly receipts Of cattle
al the stock yards are 10000 head. and
among these always are found from
100 to 200 animals infected In one
way or another.
~6
A stringent State law IL needed to
regulate the establishment Of banks.
There are too many wildcat financial
schemes now In existence In Chicago.
Not wishing to compete with the big
banks, irresponsible people are starting
up small banks In the outlying districts
OF Chicago, from time to time. This
practice has had disastrous results
upon the business and financial inter.
ests Of the entire city. Many hundred
small business men and traders have
been ruined by this class Of institu.
lions.
This nefariOus practice should be
stopped and the only way to stop It Is
BY municipal legislation.
A provision ought to be made In the
city charter authorizing the city under
Its police power to regulate the estab.
lishment Of banks and creating In
pursuance Of this work q board for
the examination Of oil proposed new
banking concerns. Such board
should be given ample power to exam.
Inc into the financial standing Of the
promoters of these institutions. and
none should be allowed to be licensed
unless such as could show assets ample
for the carrying on Of their business.
sufficient to cover the amount Of their
deposits. and sound and substantial
enough to thoroughly protect their
depOsitors.
There can be no question as to the
right and the justice Of the city to
exercise such power under properly
constructed charter provision. II the
city has the right to regulate plumb.
ers, to regulate engineers, to regulate
the electrical business. to regulate pawn.
brokers ana the scores Of other busl.
ness enterprises and industries over
which 1t exercises unquestlOned super.
vising powers, It certainly has a per
feet right to regulate the banking bust.
ness, which Is of far more Importance
than anything In the line Of business
In the city. because upon the legitimate
and honest business methods Of these
institutions depends the welfare of the
entire city In Its business and CONNER.
cinl life. while methods Of contrary
kind INDUCED In by small, irresponsible
speculative concerns only results In
failures that involve in1uri0usly the In.
terests of the entire community. How
often have we seen It that the failure
of one Of these little banks. started
upon insecure ana irresponsible founda.
lions. and b0om,M by fraudulent and
false representations, have dragged
down to ruin hundreds Of good. hard.
working, thrifty and deserving citizens.
The licenses Issued by the examin.
Ing board, which. of course. should he
composed. Of responsible citizens and
able financlers. should be of a chnrac.
ter that would be absolutely prohibit.
tive Of all schemes ana projects for the
establishment Of phony concernc OF this
kind.
This would be welcomed by all sound
and responsible banking houses,
whether private or national.
Banks like the Hibernian Banking