Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1910-11-26

most useless real estate to be found
anywhere.
Some of 1t was along river> banks
and was ornamented with dwarf and
stunted trees and other river bank
growths. Other pieces were in other
sections Of the county, "timbered with
apologies for forests
Having secured these options the
conspirators are alleged to have inter.
ested sundry people In their great
battle for forest preserve"
BY forest preserve" they meant
the sale Of the land on which they
had acquired options. to the county
at an enormous advance in price.
Rather q costly kind of preserves.
Then. when the county had pur.
chased the plats described as forest
preserve" the scheme was to subdivide
the land adjoining II and sell It at
high prices to suckers looking for
suburban lots convenient to public
parks.
It Is wonderful how q scheme like
this catches on in Chicago.
Il took like wild fire.
"The forests must be preserved"
The cry caught the woman's clubs
and the daily newspapers dominated
by woman's clubs.
Meanwhile the conspirators laughed
In their sleeves.
They had everybody interested and
the haul would be a big one.
The spring campaign commences to
loom up.
Under the new primary law peti.
tons of candidates for mayor and al.
dermen at next springs election may
be filed on Jan. 2S next and not later
than Feb. 13. Primaries will be held
on Feb. 2S and the election will take
place on April 4.
%eA
Ticket scalpers should be driven out
of Chicago.
A stringent State law Is 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 pla
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
hu a
been ruined by this class OF institu.
tiOns.
This nefarious practice should be
stopped and the only way to stop 1t Il
by municipal legislation.
\ provision ought to be made In the
city charter authorizing the city under
It's police power to regulate the estab
lishment of banks and creating In
pursuance Of this work board for
the examination OF all proposed new
banking concerns. Snch q board
should be given ample power to exam.
Inc into the financial Standing of the
promoters Of these Institutions, ana
none should he 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 10
exercise such power under q properly
constructed charter provision. II the
city has the right 10 regulate plumb.
ars, 10 regulate engineers, to regulate
the electrical business. TO regulate pawn.
brokers and the scores OF other busi.
ness< enterprises and Industries over
which 1t exercises unquestioned super.
vlsing powers, 1t certainly has a per
feet right to regulate the banking bust.
ness, which IL 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
rial life, while methods of 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 II that the failure
NJ one Of these little banks. started
upon Insecure and irresponsible founda
At n l.