Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1910-12-31

rison's former administrations and
greatly endeared himself to the pub.
Tic by his winning ways.
John J. Bradley. the popular and
well known real estate man and for.
mer Alderman, Is talked Of BY many
Democrats for City Treasurer, next
spring.
>6A
Judge Edward o. Brown has won
by his grand record as o Judge and q
lawyer the confidence and highest
esteem Of all Chicagoans.
~
Judge Edward Osgood Brown stands
high in the estimation of all Chicago.
ans both as a jurist and citizen.
John J. Coburn, the popular and
highly respected attorney, 10 In line
for election to the Superior Court
bench next year.
~
A stringent State law 10 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 Dig
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 aud traders have
been ruined by this class Of institu.
lions.
This nefariOus practice should be
stopped and the only way to stop 1t Ii
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 a board for
the examination of oil proposed new
banking concerns. Snch 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 he 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 and the scores Of other busi.
ness enterprises and industries over
which It exercises unquesti0ned super.
vising powers, II certainly has q per.
feet right to regulate the banking bust.
ness, which In 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.
cial life. while methods Of a contrary
kind INDUCED In BY small. irresponsible
speculative concerns only results In
failures that involve injuriously 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 aud irresponsible f0unda.
lions. and doomed 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 be
composed Of responsible citizens and
able financiers. should be Of q charac.
ter that would be absolutely prohibi.
tive Of all schemes and projects for the
establishment Of phony concerns Of this
kind.
This would be welcomed BY all sound
and responsible banking houses.
whether private or national.
Banks like the Hibernian Banking
Association. the Graham 4 Sons. the
Union Trust Company. the South Chi.
cago Savings Bank. the Commercial
National, the Continental National,
Drovers Deposit National, Illinois
Trust and Savings. the Fort Dear.
horn National. Northwestern Trust
and Savings Bank. South Side State
Bank. Merchants Bank, National
Bank of the Republic. State Bank OF
Chicago. and other banks that have
weathered every panic and every
storm for years deserve we'll Of the
people Of Chicago.
And yet foolish people pass them by
and hand their hard.earned money over
to concerns that have not single
banker connected with them and whose
leading men have been grafters either
in nOlitical Or nrIvato life and WIN nj.