Show l 4 i l u u uj i u u i u u IS HANDLED ONE OF THE HOWL MONEY N Cp OUN fl V TRIES OF THE WORLD t fc U Ui 1 m m u j J i u u II I l I Iti i ti 1 i t S u Correspondence of the nacre News by Prank Frank C G Carpenter Car elter I 1906 by Frank 0 U Carpen Carpenter U ter Tho rho chartered 1 A hanks have thrown their net netA b A over ocr the northwest I q 1 T unit ate ale ct branches There ure are municipal knot nt Its lis every r r r morO morn than a II score of or them doing busi busl business ness near In Winnipeg half ns as many are to tolie tolie r b lie found at unit Calgary 11 their agencies In nearly t f and they hive r l nw town of the wheat belt helt Ono One of ot time the building I saw sass in ht tho the wills wilds lMa h nf ot n t the tho CoU uIt R Rr melons was vaa I II n v 1 r 1 Ina I ehu c k 6 with t v the mo words cn es d Au Imperial P t n d ltd Its walls waits arid and td near nearby neara s 1 mal painted upon a by 1 the Canadian Hank Hauk of ut Commerce wag vall na loins doing in a 11 tent Th The llIe of ot Montreal l has Sae Just put nut up o n aV V building at nt and alto g ither there hundreds pf Vf banking Institutions In ln thU new or it tho thu world AH 11 fur us II I 1 can i nil all making money moner Six Sixt r rn they uro of t the banks binks whose who e branches branchesI moil moat l widely over Ocr this ter mire lire it spread 1110 1 I I earned more than 1414 1 H P per r tout cent t tIn raa capital In 1903 nod up upon up l on In n combined lr mid and surplus tm 1 1 on VII ThU covered the tho th rent iut t nIra l l i l per f 9 t r of lit raid a It im Kroat at part ut utIn 4 In hr II profits coma from the limo went I i k my may travels travO here hell I 1 hayo have met Illet f a t leading II and II nIl base learned n about the tho Canadas J tl U Uy from ours our I le Jt 11 I Ip MK hIlt bl I matters ore ara ur inimical by y bl pl lt canto r throughout Urn I 1 hwe l rl lI hs It 1 lh re no ri l blinks banks i With Wilh or ur O II Ii I I It IS U not nol I Je tn III t Mini u Il bank or nf orr I i kind Th CM money of ot Inn Iho I r J that whole tenantry IH Is durmo hy by i Initialed chartered I I q t balks II II width i hove Have r u Il veld told and than Chun of more h capital en nii 1111 of ot than limit lima l mori ii arc now IIII 31 m ln batiK In III will ull more moon than 1000 spread over nver the thu country Of O these Ih H branch w the nf ot On Ole Olet In III E there theio nit nl m e f 1110 In III M US tl In No NORL OVIL i t j 45 In III N Saw Now 87 Hi In to ii 4 and urd utmost almost i I r LO in British h Columbia r m k in In trims thin Canadian l northwest a e 1 The Tho Hunk Gunk of or Montreal which has its lla head hend In Montreal has hils almost n f tz y hundred brandies branches It has hils three banks m mf t ff i x In lit the United sumo some In III treat Ireat N f l Britain The fh nark Hank of o com lom rn P r cc tho Union r bank the Ihl e I J a lank bank I the Hank Balik Ilan k of lit u f British 3 ht v 1 North I met 1 vL fit lui t us all well as sorno s min m ma u SO M 0 tm Pa 1 have all 1111 allu i bs a u 11 large Ire u number nom b bv r of or branches n v s j Then rhe fhe e banks MO all al money moner They hove have other lI of tit more it r t than They have deposits v approximating halt half a billion dollars dollar r and I l am rim told to l that mho tho deposits of tit th lime limet hank HOlik of or Montreal alono Ilono are arc more mare than thana t r 4 a II hundred bundled million dollar A significant r cant caul evidence e cy o of f he the prosperity of ot Cut Can Canada Cutt t t r ada IH IX that hut the of these banks baul baule ra e f J have lucre about BO GO per our cent cont within tho trio past POt live five years mid and the stock Block of tit eh of ot them sells A III for far above vo par That sl nf If the tho I Hank ink nf tit Montreal at at this writing Is I 55 and that on It a capital of over with a 1 surplus of ot 10 millions r a F l 1 t s DAC ni m n BY nY Tim TIl r rF The chartered banks nr ar are largely un under r 1 f der IN guv government eminent control unit and their capi capital x 1 r t tal mind and dividends era ara limited by hY law Jaw a F ti vrY o bank auk t te has as to pay a It certain Im pro 1110 ri e b Portion nf tit Its t s money moncy i ia In government a f nae k kIts and r not less than 10 I Is 0 per pcr cent of ot s t a i Its 1111 cash cart reserve must bo ho held In tn such Much s i l rj notes n Tho The bank hanks havo tho the right to toi F Issue notes Holes tn to the lime amount of ot their un unimpaired t J 1 t impaired 1 m I t Iced P l 1 I capital l I but each must roust t r also nl deposit with the tho government bove t an all a 1 t r r 1 tf f Amount to 10 5 j per pel cent of Its r circulation This ThU 5 0 per cent on nn alt all the lima a i t noto cal calw n circulation ot of tho mho country Issued v w of by hy the lime beaks binks forms forma a n common fund for tor forthe t l b the c security r 3 of ot n ft the h PIl note who w wr rf r i ore nr c further secured by hy 1 a n P roal so n re requiring 1 quiring n in g that thata the tho notes of or u o Ps suspended a de 1 I a a hank bank shall s hear interest In at lit 6 per cent until tho mho public Is 15 that they can 7 be he redeemed TUB II MANIC nl v C Ol OF IJ V During my m myo atY n In ht Montreal oil r r n 1 I met mn r t r i w o I t tho trio manager of ot the Iho Hank of ot Montreal Mr J i J Yi H II 1 Clouston and mil hud a n chat chut I IJ with him hlll about Canadian bunking hacking monads methods Tho rho lank Hank of lit Montreal Is ono ann of ot tho the chief t banks of the tho world U It was tens founded by b Montreal merchants In III 1 when I J Monroe was begin beginning ba gIn ning his hIli term us president of ot the tho United States mind and Its original capital I It II I was wal It paid a u dividend of ot S 9 per por cent cont the first drat year cold and I has hils paid dividends over ever since Its capital has fine hasIn Ins l 1 and It In hu en n Increased to has now u a surplus 20 timet times us as largo IlIr o an os antho the tho amount originally Invested Us its III resilient president II la Is Lord tho the rIch richest t est st man In to Canada timid tho time of tho the Dominion III In London Tho Hank flank eif It Montreal tanks looks moro mare Ilca l ono one of tit our government depart departments ments merits than limn any financial Institution of ot Wall Wull street It 11 has hns Corinthian pillars 1 I 1 a w l r r sY j 1 I t r i 7 b Y yr f V ay a ra w y a ai i h I V I Ih wJ rr r a I a I r V c ill I nt lit the tho front and Its II roof root r rt feet ft t rim u tho time Is upheld t t P held by columns of rt i black g r from Yermont n n It each IH mitt bin big UI mound o Il 1 tx i n II barrel and as its II bright us as polished Jet Jel J I thing shunt about tho trio building Is and Iho nr ore oro as all Imposing ns os those tho of tit tho trio Hank of or England A black Jel Antler In III a Il hi mom Hill t trimmed with tIt red rell cold and u 11 bright red vest with brass brans buttons took look In III my ray card to Mr Nr Clouston nod I 1 Iwas Ivas was vas conducted t Into Ichi n re ro reception roost loom unit and delred to 10 waitA wait waitA A TALK fA I ABOUT CANADIAN CANAI JAN HANK HA n l 1 lJ INO J O OIn Mr tr In Tim of or Canadian banking Clouston Kald Kalil KaldI KalilI I think our nur n Is better than titan tho ti m 1 American i I cut 1 It 11 has mare moio checks upon hank bank old tind Is 19 more pro of ot IIO dl Ky lIY menus means of ot our branches In o ol every ry part purl partee of ot Canada wo we 13 feel ee every c y day dY o tho ilia PIPa pul u o oot of ot the thc whole Vo keep I track of ot conditions us min and 1 I I s We cnn enlI and sI t altar 1 How lIow about your jour our talus latos I t tasked asked Does Docs not awl your s system of elmer char hanks banks tend tn to c o thom throughout tho trio dominion 1 1 t think tam In l t so no eP Mr W ir 11 Clouston Tho rho riito ails Is s now flow G 0 rim h or ut fi G per Iler percent cent almost t everywhere with an art In ln whom r n lima tho rink risk of tit loss Is IR gene a t tWo r Wo t o Rot got higher hIb rates In III tho the fur fill west and tand In III the tho mining II regions r g limit Hut Is la not lIot your lour our banking s system I i n 1 monopoly or 01 trust lions Doos It not liCIt tend to crowd out the tho small try fry It t mils thin th tho of or smi small t mill banking ha r akin g Institution In but hul l lint Ilia I lt Iii I fur for tho fun m good of ot lie tho public U It Ills Is not liCIt a o 1 trust although g the I he e chattered banks l might he ho called combinations of ur capi capital tal which to n a certain extent work to II II III Chartered BonKs Bangs and Their One Branches A I System DocKed cled by the Government Loan oon Institutions in the tho Far F or Westi West Times in Canada A Chat Chot With the Marra Manager i er of the of Montreal MontrealI Savings s BanKs Run by the Private Banning Banging Etc I I cottier 1 that they Ihly render our cr condition sitter safer and that they thoy y are uro for tor the time general good Bond of ot tho the country coun conn countr tr try What That IH is the thc condition C of ot Canada to today today tolay day lay dayH H LIs Is prosperous and 1 It has hal been BO ao for tor sonic Bomo years Wilt this condition continue continuo I l no Ito reason w hy h S H It should not Canada Is i s nt lit it t the Ibo beginning hegl of Its iti growth omi l It In is del t o 1 Immigrants ate aio settling our great wc west I factories urn aro being belli established by capital capi capital capital tal from tho time United States anti and all of or sound nr being undertaken 1 I MO tee no canon i lIn why our should not go right ahead and 1 In population population tion nod wealth 1 I that wo two aro doing better heller belt hero t on time the whole w him t sou rou elm nr In lu Diu Stolen We have alma uno of ot the tho best railways of ot the country and wo wA ore lire building two others which will ha ho equally great When time thu Canadian started the people laughed nt tit the idea that thu t It would ho bo a I financial i success U It t is la now 10 one of the mst most prof profitable t of 1 le of the w railways and t Its stock Is 18 hUdi We have also al establish established ed a n system of canals callais which Ii in milling aiding In fn opening up uti ui out omit country Wo Wn trim raising s n wheat by the millions of tit hll hels anti and building mills to lu grind It ItI I Indeed I do not lIol Pee fee how Canada could bt h better oft a aloan she Itic IH I s 11 loan et t you ou hao hn o no tUr hope of or annexation t theta tion with the th United States Stales 1 l dont donl think we have hoo either the hope or till the desire to e our political condition In nay respect rO We ore sat lIat with John Johll 1111 mm Hull expect to stay with w Ith him blot I 1 don dunt 1 1 e n t think there thero line hall over been any real reil desire Melro In lu Canada for fora a ri union t w with Ith the l Indeed t the th mirdS e r l t 1 I hove ever heard t In III Ir of ot t time came r from nn an n n who wanted to join your oui country to spite spill the English l BANKING nANI IXU IN Till rAn PAR VEST W I 51 It was wan In the city of nf In ht tho limo ran range g s country 1 not far tar from f mt the toot foot foothills hills of ot i lie he I u Ho kle that I with sw Ili Mr Ir C l W WS HOlle the manager of ot Iho tho Canadian Hank funk of ot Commerce Commeree at ot that w point The lh Canadian Hank of ot Com Coin Commerce Commerce merce pierce is III one of ot the most enterprising In ht the tho he dominion It 11 butt bus brunches covering the entire northern part hart of ut the tho continent from Capo Cape Br on tha the Atlantic to 10 Vancouver on ou the I unit and from trum San Bun to lu i It line hag u it 1 of and all a n sur stir I Plus I of ot It I t keeps right In III t h I tr front of ot the new development In the Ih northwest and chit it has established nt at almost every eer settlement Mr Alt Ir How Howler Icy Is III one ut of o Its lis Patting loading bank batik bankers ers In the tho west and he ho known knows nil mill about time thc financial situation Sold ha ho 1101 Our banks are arc all making mon money y In III Inthis this part purt of oC the world There Thero are lite eight of ot if the lime chartered Institutions represent t e d In Calgary t and notwithstanding not s I s InS the time population Is only We Wc Ve hax ha have P a n great wholesale rile here and we control the tho trudo tru c of the th country about What me rime your our Interest rates They Thc mire lire about tile the saute samo ns liS thos i In the tho western parts of ot the time United States Slater tell We are tire new getting 7 cud S b ver lIer rent cent Do 1 many of ot the tho Americana borrow money lunacy 7 1 Yes Y 5 t s fl and amill wo t wr n ra gh HI ad 1 to ion mm to la th them Tim ISI sett rs lima 1 I cf of eo emit and me of them them I bell that cur ur h b l s dm u l 5 mOle mare than thun others for tor tho tim canidi Granada of the tho th future It t Is la better than what wo we it gat l 1 Indeed I 1 would i rave have one on bright young American immigrant grant st nIth without a it then than the aril ordinary c nary nar 3 Immigrant with The T Th he American at Mill 11 his way avny Ho Hc will vII tl soon hlll ha v 1 she ad nil 1 he s r III 11 l show I Iland t t his faith alum lin In III the counti 11 buying buy In land and going 0 Into Inlo any all In Investment vestment that thul nin ruoy turn ui tit fh hl thousand und may any do dothe dothe the same some but hut the chances on the th eon con contrary Iran lire are that ho he will spend most of or his limp lovd 1 bang ci about the hotels hollIM i and In fn I tin la Ing polo e and billiards billiard He Ifs l I s murky lurk Indeed It If he does io s not go Ru to the Ihl dogs dO A What hat are lire you jou OU people pp going to do about the thrift tariff I asked 1111 1 We WWI expect to maintain high bight duties 1 time the United States HI liteR Your pros aria verily Is Ie largely founded upon protection tion unit and oJ wh why should we wo not build up un out OUI country c en nh by lIy the same means mae Our m v t l In Is I Canada Lun t for tho the Canadians L ht We 0 lire are Glad clad to 10 have hilve leans come funds fUll s of ot tho the branch there thero go II to other districts do so that there Is I no surplus anywhere Aio Alo many minty luaus loans made mado on mm real ea es tote Into 1 nuked asked Yes Yell but not by the bulks banks It tt la Is to tn law Uw for them to tn real reale I Pinto e loins ox Wo have hao mum and 1 loan lI wb ch do that bustness bust busi business ness 8 mid tho time money with which they operate comes comI malid tram trum eastern In amid the United States Aio Aro many ideas lUll 11 mortgage notes sold hero horo I 1 n It tt used lined to he bo that Now New owned our nut great west went Aio Ato 10 you jou getting much money the tho east tom till the time purchase of notes secured by b mortgages s sNo No An wo tu t do not lIot lo not 8 In la lu I ment far foi I real estate I tali Much melt land Ind Im Is la s sold stud Il on l payment 11 mn e lP but hu dotes uch Auch payments are aro not not secured secured by imy h notes l 1 t t 1 here heie for tor vc to I expect to make them Can Cnn I II It I used to bo bt b that we ro H Bomi a n dependent I Inow upon your jour our trade traI We W Vc me now able to In stand e eteo alone wo teo Intend to tn protect our business bU business Just Justna na nil nJ much tie rip we wr can calm CHAT eHAT WITH IlU A J It There me ue nl but few tel private banks In lu I Canada lime Ihu only one I T know of In itt IH Is that thit of o Allow ny Cham Champion 1 pion l lou has ban been In existence for I mare a generation the rho bank bunk ha hue hils n a Ign which u bleb reads miny F I Champion mit t Hankers t ake ra On Only ty the lita cha |