The bank of Schiff & Company, one of the oldest and largest Jewish banks of Chicago, established 25 years ago by the well-known Chicago public benefactor, Benjamin J. Schiff, has become a state bank and will from now on be under the supervision of the State of Illinois. The name of Schiff's bank will now be Schiff & Company State Bank. All departments of a modern bank will be installed, as: savings, checking, etc. Schiff will be the president.

The former Schiff & Company bank, operated on a capital of $1,750,000, having about 14,000 depositors. The immense growth of the bank's business and its huge success with all its depositors, enabled the directors to take the step of organizing a state bank under the supervision of the State of Illinois, thus giving to the Chicago Jews a definite security.

The Schiff & Company bank in the span of its long existence has become the beloved institution of Chicago's Jews. It has served as an important information bureau for tens of thousands of Jews; also as a friend and adviser for Jewish immigrants. The new organization of Mr. Schiff's bank under the auspices of the State of Illinois and its expansion will bring happiness to many Jewish friends who greet Mr. Benjamin J. Schiff on his new undertaking and wish him much success.