Forgan

As it must to all men, Death came to James Berwick Forgan, in the 73rd year of his life and the 24th of his career as the outstanding figure of the Chicago banking fraternity. Stricken at his desk with heart disease, he was taken to the Presbyterian Hospital, where a transfusion of his son's blood (James B. Forgan, Jr.) rallied him momentarily but was ultimately unsuccessful in saving his life. He died sur rounded by his family, after singing favorite hymns with his pastor and saying : "I have put up the best fight I could." Forgan is one of the old names in St. Andrews, Scotland. James Berwick Forgan was born there, one of six chil dren of Robert Forgan, maker of golf clubs and balls. After an education at Madras College (St. Andrews) and Forres Academy (Forres), where his uncle was long rector, Mr. Forgan was dissuaded from a predilection for the Law by another uncle, who apprenticed him to the banking profession. Three years' training, and he was accepted by the Bank of British North America, in its London establishment. Soon he crossed the Atlantic, continuing his study and practice of banking in Montreal, Manhattan, Halifax. The directors of the Bank of Nova Scotia, struck by his distinguished bearing and demeanor, engaged him as paying teller, and, aged 30, as branch in spector. They sent him to Minneapolis to open a new branch. There the Northwestern National Bank made him cashier and he in turn made the North western one of the strongest institutions in its territory. Chicago heard of James Berwick Forgan; Lyman J. Gage, President of The First National Bank of Chicago, made him his Vice President in 1892. In 1900, soon after Mr. Gage became Presi dent McKinley's Secretary of the Treasury, Mr. Forgan moved up into the position that was to designate him "dean of Chicago bankers."

The First National grew enormously under the Forgan touch: its assets from some 49 millions in 1900 to nearly 260 millions in 1915; its deposits from 43 millions to 219 millions in the same period. Its good will and reputation for sound policy increased equally rapidly. Mr. Forgan concerned himself with the character and welfare of his employes, giving fatherly talks and plain advice to each newcomer.

In 1916, after the First National had become the largest financial institution in Chicago, Mr. Forgan relinquished the presidency, but continued active .in the bank's affairs as chairman of the board.

For 21 years, Mr. Forgan had been Chairman of the Clearing House Committee; for five years he had been a director of the Federal Reserve Bank of Chicago; for six years he had been President of the Federal Advisory Council of the Federal Reserve Board, at Washington.

Mr. Forgan was widely and affectionately known as "J.B." and "The Old War Horse." His humor was kindly, his sense of justice, honesty and discipline that of a stern Scot. Testimonials from his friends reflected the gratitude Chicago owed him for his services during 30 years of prosperity and panic.