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STATE BANKING DEPARTMENT
LANSING, MICHIGAN

FIFTIETH A N N U A L REPORT
OF TH E COMMISSIONER


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Federal Reserve Bank of St. Louis

FOR TH E YEA R ENDED
DECEMBER 31, 1938

BY AUTHORITY

FRANKLIN D e KLEINE CO M PA N Y
PR IN TE R S,

LITHOGRAPHERS, BOOKBINDERS
L A N S I N G ---- 1 9 3 9


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Federal Reserve Bank of St. Louis

CONTENTS
COM MISSIONERS OF THE BAN K IN G D E P A R T M E N T ......................................

Page
5

LIST OF OFFICERS AN D EM PLO YE ES.....................................................................

7

LETTE R OF T R A N S M IT T A L ..........................................................................................

9

ABSTRACTS OF REPORTS
State Banks in Michigan...............................................................................................

12

Industrial Banks in M ichigan.......................................................................................

14

Trust Companies in Michigan......................................................................................

16

National Banks in M ichigan.........................................................................................

18

CORPORATE CHANGES DU RIN G 1938
Applications for charter approved...............................................................................

19

Branch offices established..............................................................................................

20

Branch offices discontinued...........................................................................................

20

Banks merged...................................................................................................................

20

Changes of Corporate title............................................................................................

20

Changes in par value of common stock......................................................................

20

Institutions closed during 1938....................................................................................

20

Changes in capital stock...................... .........................................................................

21

Banks admitted to membership in the Federal Reserve System...........................

22

Bank admitted to insurance with Federal Deposit
Insurance Corporation...........................................................................................

22

Extensions of corporate existence................................................................................

22

List of Banks granted industrial loan powers....................................................................

22

List of Banks granted trust powers.....................................................................................

25

List of Member Banks of the Federal Reserve System...................................................

26

Earnings and dividends for the year 1938..........................................................................

28

Number of depositors.............................................................................................................

29

Number of examinations conducted....................................................................................

29

Reserve cities designated.................................

29

Receipts and disbursements of the Banking Department...............................................

30

LIQ UIDATIN G TRUSTS
Department Receiverships.............................................................................................

30A

Court Receiverships........................................................................................................

30B

Condensed abstract of Receiverships..........................................................................

31

Trusts of Segregated Assets under Act 32..................................................................

32

Depositors Corporations................................................................................................

36

Trusts of Segregated Assets under Act 8 ....................................................................

38

Reports of State Banks, Industrial Banks, and Trust Companies...............................

39

Abstract of reports of Credit Unions...................................................................................

229

Abstracts of reports of Small Loan Licensees....................................................................

231

List of Small Loan Licensees.................................................................................................

238

Reports of Safe and Collateral Deposit Companies..........................................................

241

Reports of National Banks in Michigan.............................................................................

245


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Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

COMMISSIONERS OF THE BANKING DEPARTMENT
State of Michigan

Number

Name

Date of Appointment

Remarks

1

Theodore C. Sherwood. . .January 7, 1889........ . Resigned November 7, 1896

2

Daniel B. Ainger........... . .November 11, 1896. . .Resigned April 1, 1897

3

Josiah E. Just................ . .April 1, 1897.............. .Died February 19, 1898

4

George L. M altz............ . .February 26, 1898. . . .Term expired January 8, 1903

5

George W . M oore.......... . .January 8, 1903........ .Term expired February 19, 1907

6

Henry M. Zimmerman. . .February 19, 1907. . . .Resigned January 11, 1911

7

Edward H. D oyle.......... . .January 18, 1 9 1 1 .... .Term expired February 14, 1915

8

Frank W. M errick......... . .January 13, 1915. . . . .Resigned April 27, 1921

9

Hugh A. McPherson. . . . .April 27, 1921............ .Resigned January 1, 1927

10

Rudolph E. Reichert. . . . .January 21, 1 9 2 7 .... .Resigned February 15, 1936

11

Howard C. Lawrence... . .February 15, 1936. . . .Resigned December 31, 1936

12

Charles T. Fisher, Jr.. . . .January 2, 1937........ . Resigned January 10, 1938

13

Alvan Macauley, Jr.. . . . .January 13, 1938


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RE PORT OF THE COMMISSIONER

DEPARTMENT OFFICERS, ASSISTANT ATTORNEY GENERAL,
DIVISION CHIEFS AND EMPLOYEES
AS AT DECEMBER 31, 1938
Name

Address

Designation

Alvan Macauley, Jr................... Grosse Pointe....................... Commissioner
Harold G. Hudson.....................Decatur................................. Deputy Commissioner
T. George Sternberg..................East Tawas...........................Assistant Attorney General
E. W. Nelson...........................Ann Arbor............................ Chief Examiner
R. A. Carroll............................Bellevue.................................Chief, Liquidation Division
I. E. Quick...............................Pleasant Ridge..................... Chief, Auditing Division
Marion J. W oolley.....................Lansing................................. Chief Clerk
Vera Adams................
K. C. Aldrich..........
Valda Barlow.............
Elnora Bedford..........
J. S. Bicknell...........
G. M. Black...............
Edna Brown...............
D. E. Collard.............
Eva A. Cook..............
F. L. Cully..............
H. A. Esterdahl.........
Smith Falconer..........
M. G. Fiegel...............
E. B. Finley, Jr..........
Doris Flint..................
E. F. Formed..........
E. O. Fults.................
Mary Geisinger..........
H. S. Gies...................
Maurine G ill..............
Florence Green..........
I. H. Hamilton..........
Charlotte H azard... .
C. E. Hengesbach.. . .
Dorothy Hennen. . . .
John H ill.....................
R. I. Hudson..............
Frieda Jackson..........
Margaret Jolie...........
C. E. Kearns..............
June Kessler...............
Frank C. K eyes.........
F. M. Kropschot. . . .
R. K. Lapworth........
J. F. Mara, Jr............
Allan Martindale. . . .
M. J. Martin..............
Glenn E. Massnick . .
Frances Mathews. . . .
Bessie M cG ee............
E. G. M cGugan.........
William M cK nigh t...
Martha M eyering... .
Bertha A. Mierle. . . .
C. E. Miller................
Marion Miller............
G. D. M onroe............
Marguerite C. Moore.
Darlyne G. Morofsky
LeMoine N oah..........
Carolyn Parker..........


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Lansing.........................
Jackson......................... . . . . Examiner
Lansing.........................
Flushing....................... . . . .Stenographer
Saginaw........................ . . . .Assistant Examiner
Lansing......................... . . . .Assistant Examiner
Jackson......................... . . . . Clerk
Lansing......................... . . . .Auditor
Saginaw........................ . . . . Stenographer
Detroit.......................... . . . . Assistant Auditor
Whitehall.......................
Belleville.......................
Ann Arbor.................... . . . .Examiner
Grand Rapids.............. . . . . Examiner
Perry.............................
Detroit..........................
Flint.............................. . . . .Assistant Examiner
D etroit.......................... . . . .Stenographer
Detroit..........................
Lansing......................... . . . .Stenographer
I.ansing.........................
Grand Rapids.............. . . . .Examiner
Lansing......................... . . . . Stenographer
, Charlotte...................... . . . .Assistant Examiner
West Branch................ . . . .Stenographer
Mt. Clemens................ . . . . Messenger
Decatur......................... . . . .Senior Examiner
Detroit.......................... . . . .Stenographer
Houghton..................... . . . .Typist
Owosso.......................... . . . .Examiner
Lansing.........................
Bronson........................ . . . . Examiner
Lansing.........................
Shaftsburg.................... . . . .Examiner
Battle Creek................ . . . .Auditor
Farmington.................. . . . . Examiner
Lansing......................... . . . .Field Representative
Detroit ........................ . . . .Trust Examiner
Grand Ledge................ . . . .Stenographer
Lansing......................... . . . . Clerk
Kalamazoo................... . . . .Senior Examiner
Detroit.......................... . . . .Assistant Auditor
East Grand Rapids. . . . . . .Stenographer
Muskegon..................... . . . Stenographer
Lansing......................... . . . . Examiner
Lansing......................... . . . . Stenographer
Howell........................... . . . . Examiner
Farmington.................. . .. . Stenographer
,Lansing.........................
. Lansing.........................
Lansing.........................

7

8
I. J. Peterson...................
E. R. Robinson................
Lillian Rogalski...............
H. E. Rom ig....................
W. L. R o y ........................
W. J. Schriemer...............
G. A. Spencer...................
Peter Talentino................
Bernice Thiedeman.........
Rhea May T w ite.............
D. T. Webster..................
H. 0 . W ells......................
Paul Willson.....................
R. C. W ixson...................


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STATE BANKING DEPARTM EN T

........ Senior Examiner
........ Stenographer
........ St. Clair Shores.......... ........ Examiner
........ Lansing........................
........ Grand Rapids............. ........ Examiner
........ Ypsilanti..................... ........ Examiner
........ Laurium...................... ........ Senior Examiner
........ Alpena.......................... ........ Stenographer
........ Grosse Pointe............. ........ Examiner
........ Union C ity .................. ........ Examiner

RE PO R T OF THE COMMISSIONER

9

STATE BA N K IN G D E PA R TM E N T,
Lansing, Michigan, January 2, 1939
The Governor of the State of Michigan,
Lansing, Michigan
Sir:
As provided in Section 20 of the Michigan financial institutions act, I have prepared and
herewith submit for your consideration the Fiftieth Annual Report of the Banking Depart­
ment of the State of Michigan as of December 31, 1938.
The period embraced by this report has witnessed a retardation in economic recovery,
consisting of a reduction in farm income, contraction in industry, trade and employment,
and a rather pronounced decline in security values, with some evidence of moderate im­
provement at the year-end.
It is significant that our state banking system has not been materially affected thereby,
although the situation did create problems in certain individual banks, such as the necessity
for improving the quality of bond portfolios and strengthening capital structures. These
banks were required to take their bond losses promptly, and earnings, as well as contribu­
tions of new money in some instances, were used to strengthen their capital position. In
dealing with these conditions, the flexible and comprehensive provisions of the Michigan
financial institutions act, adopted in 1937, which broaden the powers of the Department
for just such contingencies, have proved entirely adequate. The Department has applied
rather vigorously its authority to specify the minimum quality of bonds to be added to
investment accounts, with safety of principal being the paramount consideration. No
opportunity has been overlooked, in the conduct of our supervision, to encourage higher
general standards in bank management.
Very properly, the period in general has been one of careful interpretation and applica­
tion of the provisions of the Michigan financial institutions act. There is a growing apprecia­
tion as to its value, particularly since, through its careful utilization, it is becoming apparent
that the state banking structure has emerged from the recent business decline in a stronger
and healthier condition than it has ever been in before.
Operating Banks
The total resources of 376 financial institutions (356 commercial banks, 7 industrial
banks, and 13 trust companies) now in the state banking system, amounted to
$765,832,004.31, as of December 31, 1938. This is an increase of $1,716,868.37, or 0.2% ,
over the total resources of 381 state financial institutions as reported on December 31, 1937.
Loans and discounts of commercial banks as of December 31 were $198,791,929.65, or
5.7% more than at the end of the fiscal year 1937. It is believed that consistent with the
proper safeguarding of depositors’ funds, state banks are doing their part in assisting
business recovery by meeting, to every extent possible, the credit needs of their communities.
Investment ratios for commercial banks indicate that the proportion of United States
Government obligations to total investments is 64.8%, or slightly higher than the ratio
for 1937, which was 62.8%. Obligations of states, and political subdivisions thereof, such
as municipal bonds, etc., for 1938 had an investment ratio of 18.2% to total investments,
while the investment ratio of other bonds, notes, and debentures, such as corporate issues,
stood at 17%. Thus the proportion of Governments, and the obligations of states, munici­
palities, and bonds of similar categories, was 83% of the total investments for commercial
banks in 1938. From the above indications, which have been substantiated by the reports
of our examiners, it is believed that there has been a decided improvement in the quality
of bonds held in the investment portfolios of our banks.
Such items as the cash position of commercial banks, total assets, and total deposits,
show little or no change. Cash in vault, balances with other banks and reserves with Federal
Reserve banks stood at $172,886,801.85, or $19,346.13 more than on December 31, 1937.
Total assets on December 31 were $701,296,120.84, or 0.3% more than in 1937. Deposits
in commercial banks on December 31 were $634,297,331.60, or a 0.2% reduction from total
deposits on December 3 1 a year ago.
While the real estate market for old properties was not particularly strong in 1938, our
banks, through persistent efforts, disposed of many pieces of other real estate. Commercial
banks throughout the state reduced the total of such assets by $781,030.04, to $4,274,142.80,
a shrinkage of 15.4% for the year. Other real estate now represents only 0.6% of the total
resources of commercial banks.
Problems of commercial banks relating to the strengthening of capital structures con­
tinued to require a portion of the Department’s time. An improvement is noticeable.


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10

STATE BANKING D EPARTM ENT

Capital stock and surplus increased $1,931,114.83, or 3.67% over the past year. A year
ago there was one dollar of capital stock and surplus for every $12.09 in deposits. Now the
ratio figure is down to $11.63.
During the year there were two new state banks chartered, three were merged with
existing state banks, one was merged with a national bank. Three branches were established
and three branches were discontinued. Three banks went into voluntary liquidation.
Credit Unions and Small Loan Licensees
There are now 146 credit unions supervised by the Department. Eleven were dissolved
in 1938, and 14 new charters granted. All have been examined. Well managed credit unions
show a substantial growth in shares and deposits, while those making no progress have
been urged to surrender their charters. Fees received for examining credit unions do
not cover costs. Currently, the larger unions pay only a small portion of the actual cost,
while some of the smaller ones pay more than cost.
At the turn of the year, there were 204 small loan licensees operating under our supervision,
as against 194 on December 31, 1937. Concerted effort has been made to correct violations
by licensees; in several cases borrowers have been reimbursed for excessive charges. Every
licensee was examined in 1938.
Liquidation Division
The Department is giving increasing emphasis to the necessity for the early termination
of all liquidating projects under its jurisdiction, inasmuch as the great majority are rapidly
approaching the time when the interests of depositors will be best served by winding up
their affairs. Everything is being done also to assist with the termination of receiverships
under the supervision of state courts.
Seventy-one segregated trusts and/or bank receiverships paid final liquidating dividends
in 1938 as compared to 22 in 1937 and 14 in 1936. At the close of the year there still re­
mained 300 projects in liquidation, having deposit liabilities of approximately
$87,000,000.00. Banks in liquidation were authorized to pay dividends to depositors of
$21,784,731.94 during 1938, as compared to $18,457,014.64 for the calendar year of 1937.
The dividends paid for the year were probably abnormally large, owing to the collection
of stock assessments from two of the larger liquidating projects.
At the time of the banking holiday there were 436 state banks and trust companies closed
with deposits aggregating $481,229,914.76. These financial institutions, including those
which were licensed for immediate reopening, following the holiday, have returned to
depositors as of December 31, 1938, a total of $420,570,435.19, or an average of 87.34
cents on every dollar impounded at the time of the banking holiday. The percentage
of total deposits returned at the close of 1938 compares to 83.71 % at the close of 1937. These
figures indicate that the average depositor has suffered a shrinkage in his account of 12.66%
on deposits as of the close of the year, with the possibility remaining of further substantial
recoveries.
The following tabulation indicates the changes which have occurred in banks under the
supervision of the State Banking Department since February 11, 1933:

D ep osits at
2-11-33

N o.

191
6
10
58
117
50
3
1

$ 2 4 1 ,5 4 8 ,9 6 9
6 ,5 2 2 ,5 4 4
6 ,2 2 4 ,3 9 1
D ep artm en t R ece iv e rsh ip s..........
5 6 ,7 5 6 ,3 6 1
7 6 ,6 4 7 ,7 6 8
R eorga nizations (A c t 32 T rusts)
R eorga nizations (A c t 32 “ 5 4 ”
3 5 ,3 8 5 ,8 2 6
P la n )................................................
5 8 ,0 9 1 ,8 0 1
T ru st C om p a n y R eorganizations
5 2 ,2 5 2
T ru st C om p a n y R e c e iv e r s h ip ...

436

D ivid e n d
P aym en ts
A u th orized to
12-31-38

D eposits
R eleased

43
47
06
34
13

$ 2 4 1 ,5 4 8 ,9 6 9
6 ,5 2 2 ,5 4 4
6 i 224 j 391
7|747 ;5 2 9
4 5 ,1 0 0 ,9 2 6

43
47
06
31
23

$ 3 1 ,6 5 4 ,3 2 7 69
1 8 ,2 1 2 ,9 2 1 80

72
18
43

1 7 ,9 6 4 ,1 8 2 33
1 4 ,7 8 6 ,5 2 4 71
5 2 ,2 5 2 43

6 ,8 4 9 ,2 2 7 50
2 3 ,9 0 6 ,6 3 8 23

$ 4 8 1 ,2 2 9 ,9 1 4 76

$ 3 3 9 ,9 4 7 ,3 1 9 97

$ 8 0 ,6 2 3 ,1 1 5 22

Percentage
R eturned
to
D epositors

100%
100
100
69.3 9 '
8 2 .6 0
7 0 .0 4
66.61
100

8 7 .3 4 %

In order to expedite liquidation and secure a general improvement in the results obtained,
the Department has inaugurated a plan of surveying various trusts. This involves a careful
review of the methods of the liquidator with an appraisal of all remaining assets,, supported
by available credit information. Instructions, remedial in nature, are given where necessary.


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REPORT OF THE COMMISSIONER

11

Follow-up surveys are made in order to insure permanent benefits from the procedure. In
1938 all depositors corporations, with assets having a book value of approximately
$16,000,000, were surveyed in this manner. Eleven Act 32 trusts, with assets of $3,500,000
were also surveyed. In addition, 43 audits of receiverships and trusts were made and 23
special examinations were conducted.
Employees
As of December 31, 1937, the Department had 91 employees. With all initial audits of
large liquidating projects completed, the work of the Auditing Division is now considerably
reduced as to volume. The substantial decrease in the number of active receiverships and
trusts has also lessened the work of this Division, as well as that of the Liquidation Division.
The number of employees in the Department has now been reduced to 71.
General
Nineteen hundred thirty-eight witnessed the first annual study conference for Michigan
bankers. It was held in Ann Arbor December 9 and 10 under the auspices of the University
of Michigan, Michigan Bankers Association, and the State Banking Department. The
interest of the 160 bankers in attendance at this meeting seems to indicate general approval
of the study conference approach to banking problems.
With regard to the granting of new charters, it is naturally a pre-requisite that any new
bank be adequately provided with sound capital. There should also be a genuine need for
more banking facilities in the particular area; furthermore, it should be evident beyond
reasonable doubt that the bank will operate successfully. It is interesting in this connection
to consider a recent statement of Chairman Leo T. Crowley of the Federal Deposit Insur­
ance Corporation: “ In limiting new charters, in formulating and putting into effect uniform
examination and supervisory standards, in discovering and correcting problem situations,
the state supervisors have been able, vigilant, and unselfish representatives of the public
and of the banks under their jurisdiction.”
With further regard to the National Association of Supervisors of State Banks, Mr.
Crowley has commented recently upon the desirability of longer terms for superintendents,
commissioners, or chief examiners, as they are known in various states. The Association is
considered to be one of the most powerful influences governing the successful operation of
the state banks of the nation. The effectiveness of the work of the Association, which has
had frequent conferences with various Federal agencies on matters of policy, administration,
etc., during the past year in particular, largely depends upon the continuity of its mem­
bership. New York State, it is interesting to note, has just extended its banking superin­
tendent’s term to four years. Michigan might well do likewise.
In order that the income of the Department might more nearly cover its expenses, an
increase of twenty-five per cent in the fee for examination of state and industrial banks
was put into effect as of the first of the year, making the fee one and one-quarter hundredths
part of one percent of the gross amount of assets.
This report would not be complete without reference to the cooperation existing between
the State Banking Department and the Federal supervisory agencies, particularly the
Federal Reserve Banks of Chicago and Minneapolis, and the Federal Deposit Insurance
Corporation. During the past year much progress has been made in the standardization
of procedures and in the development of uniform examination and call report forms. The
cordial and mutually helpful relations existing between ourselves and these agencies have
assisted in bringing about results which have been generally beneficial to the State Banking
Department, and, we believe, to the institutions under our supervision.


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Respectfully submitted,
ALVAN M ACAULEY, Jr.
Commissioner of the Banking Department.

STATE BANKING D EPARTM ENT

12

TABLE No. 1— Abstracts of reports of condition of the State Banks of Michigan
(exclusive of Industrial Banks and Trust Companies) at December 31, 1937,
March 7, 1938, June 30, 1938 and September 28, 1938.

Assets

Report of
6-30-38
359 Banks

Report of
3-7-38
361 Banks

Report of
12-31-37
361 Banks

Report of
9-28-38
359 Banks

Loans and Discounts.................................................... *187,995,665 56 $185,842,689 43 $186,671,253 91
44,045 34
73,329 66
66,137 14
Overdrafts........................ ........... ; ...............................
II. S. Government obligations, direct and/or fully
185,474,702 63
195,883,689 40
guaranteed................................................................ 199,136,575 64
Other bonds, stocks, and securities............................ 117,673,092 67 118,820,621 60 111,710,883 38
13,625 00
6,840 00
1,550 00
Customers’ liability on account of acceptances........
11,697,864 39
11,667,102 24
11,658,337 96
Banking houses.............................................................
1,665,421 13
1,673,126 72
1,662,027 60
Furniture and fixtures..................................................
4,803,327 48
4,728,990 86
5,055,172 84
Real estate owned other than banking houses.........
54,102,875 12
58,461,269 24
58,864,677 95
Reserves with Federal Reserve Bank........................
Cash, balances with other banks, and cash items in
102,779,723 55
process of collection.................................................. 114,002,777 77 100,344,782 89
71,907 83
53,787 24
122,524 34
Cash items not in process of collection......................
Other assets...................................................................

2,785,445 34

2,314,423 22

1,527,713 75

Totals.............................................................. $699,023,984 81 $679,862,946 91 $660,571,049 10

«189,230,581 63
83,186 99
194,769,630
112,627,839
13,785
11,731,097
1,718,537
4,095,152
57,634,59S

37
43
00
22
18
92
31

104,522,115
81,918
41,775
1,747,171

21
94
00
30

$678,297,389 50

Liabilities
Demand deposits of individuals, partnerships, and
corporations............................................. ................. «188,788,376 14 $172,204,934 14 «174,942,011 89
Time deposits of individuals, partnerships, and
359,529,278 20 356,991,184 22 353,498,891 90
corporations..............; ............... . ..................... ..
48,345,128 05
66,751,308 70
65,434,583 75
State, county, and municipal deposits.......................
2,519,282 34
4,685,718 33
2,801,939 68
U. S. Government and postal savings deposits........
Deposits of other banks, certified and officers’
checks, and cash letters of credit and travelers’
17,554,764 32
15,887,977 97
19,320,420 46
checks................................................................•'-----30,000 00
3,500 00
6,651 82
4,175 21
13,625 00
6,840 00
1,550 00
Acceptances executed for customers..........................
Interest, taxes, and other expenses accrued and
unpaid.........................................................................
Dividends declared but_ not yet payable, and
amounts set aside for dividends not declared.......
Other liabilities..............................................................
Capital account:
First preferred stock.................................................
Second preferred stock.............................................
Common stock...........................................................
Surplus.................................................. ..................
Undivided profits— net............................................
Reserves for contingencies......................................
Retirement funds for preferred stock.....................

352,741,542 31
60.845.380 62
3,626,677 22
18.509.381 62
30,000 00
13,785 00
41,775 00

228,126 47

563,175 78

350,964 08

693,936 73

248,263 91
1,938,511 74

69,938 43
1,354,126 86

190,107 56
1,159,306 87

94,421 82
1,397,639 05

16,544,650
1,607,900
24,734,850
9,694,139
5,056,936
2,242,890
843,893

00
00
00
07
29
40
49

16,306,350
1,656,900
24,755,750
9,881,865
6,129,958
1,863,307
746,958

00
00
00
90
13
79
84

16,107,250
1,525,650
24,741,715
10,217,850
6,336,555
2,202,889
835,056

00
00
00
16
26
91
76

Totals............................................................. «699,023,984 81 $679,862,946 91 $660,571,049 10


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Federal Reserve Bank of St. Louis

$176,463,210 37

15,759,350
1,540,650
25,627,015
10,684,556
6,657,391
2,715,117
855,559

00
00
00
43
13
83
37

$678,297,389 50

RE PORT OF THE COMMISSIONER

13

TABLE No. 2— Abstracts of reports of condition of 356 State Banks (Exclusive of
Industrial Banks and Trust Companies) at the close of business December
31, 1938.

Assets

Loans and discounts (including overdrafts)..............
United States Government obligations, direct and
guaranteed..................................................................
Obligations of States and political subdivisions.......
Other bonds, notes, and debentures...........................
Corporate stocks (Including stock of Federal Re­
serve Bank)................................................................
Cash, balances with other banks, including reserve
balances, and cash items in process of collection..
Bank premises owned...................................................
Furniture and fixtures..................................................
Real estate owned other than bank premises...........
Investments and other assets indirectly representing

4 Detroit Banks
in the 7th
Federal Reserve
District

330 other Banks
in the 7th
Federal Reserve
District

22 Banks in
the 9th
Federal Reserve
District

$57,612,504 15 $136,010,486 02

$5,168,939 48

$198,791,929 65

6,028,035 68
1,517,840 85
3,542,880 18

200,787,127 86
56,518,909 33
51,660,415 09

94,666,790 48
14,012,154 14
10,588,985 40
378,174 00
64,627,020
2,772,576
282,365
2,152,390

45
49
23
55

100,092,301 70
40,988,914 34
37,528,549 51
665,697 50
102,817,834
8,433,304
1,140,046
2,019,696

71
01
35
38

31,950 00
5,441,946
450,025
89,651
102,055

69
28
13
87

Total for the
356 State Banks

1,075,821 50
172,886,801
11,655,905
1,512,062
4,274,142

85
78
71
80

171,997 79

171,997 79
Customers’ liability to these banks on acceptances
13,823 00
875,859 86

12,985 68

13,823 00
1,947,183 48

Totals.............................................................. $248,151,298 83 $430,758,511 17

$22,386,310 84

$701,296,120 84

$66,644,330 83 $112,543,919 16

$5,203,159 05

$184,391,409 04

125,089,824 28

12,220,465 64

360,841,605 90

Other assets...................................................................

1,058,337 94

Liabilities
Demand deposits of individuals, partnerships, and
corporations...............................................................
Time deposits of individuals, partnerships, and
corporations...............................................................
Deposits of United States Government (Including
postal savings)...........................................................
Deposits of states and political subdivisions............
Deposits of banks.........................................................
Other deposits (Certified and officers’ checks, etc.) .

2,480,264
24,288,395
7,009,127
3,313,709

86
36
57
61

223,531,315 98
1,931,961
38,226,067
6,631,428
2,844,379

46
29
95
77

Total Deposits............................................... $228,825,652 51 $385,709,072 61

143,159
2,054,484
45,087
96,250

37
14
41
87

4,555,385
64,568,946
13,685,643
6,254,340

69
79
93
25

$19,762,606 48

$634,297,331 60

7,000 00

7,000 00

13,823 00
1,130,220 80

10,796 07

13,823 00
2,078,094 20

Bills payable, rediscounts, and other liabilities for
Acceptances executed by or for accounts of these
937,077 33
Capital Account:
7.035.000
625,000
3.700.000
2.950.000
1,594,561

00
00
00
00
34

8.360.434
485,650
20,941,335
8.239.434
3,592,400

00
00
00
90
15

283,100
202,000
1,216,000
474,700
379,173

00
00
00
00
08

15,678,534
1,312,650
25,857,335
11,664,134
5,566,134

00
00
00
90
57

Reserves (and retirement account for preferred


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2,279,140 71

57,935 21

4,821,083 57

$248,151,298 83 $430,758,511 17

$22,386,310 84

$701,296,120 84

2,484,007 65

STATE BANKING D EPARTM ENT

14

TABLE No. 3— Abstracts of reports of condition of Industrial Banks of Michigan
at December 31, 1937, March 7, 1938, June 30, 1938 and September 28, 1938.

Assets

Report of
12-31-37
7 Banks

Report of
3-7-38
7 Banks

Report of
6-30-38
7 Banks

Report of
9-28-38
7 Banks

$19,079,614 50

$18,235,774 05

$16,232,090 97

$15,134,151 03

United States Government obligations, direct and
fully guaranteed........................................................
Other bonds, stocks and securities.............................

2,570,320 77
1,404,017 78

2,878,251 12
1,362,981 62

3,160,549 61
1,399,157 36
859,800 48

3,211,330 29
1,453,987 32
787,785 48

Cash, balances with other banks, exchanges and
cash items..................................................................
Banking houses............................................................
Furniture and fixtures..................................................
Real estate owned other than banking houses........
Accrued interest receivable..........................................
Other assets..................................................................

2,633,247
102,188
18,561
156,711
15,995
91,898

3,143,767
98,988
31,203
156,636
16,975
80,024

2,860,063
92,588
36,790
99,177
16,424
54,033

2,917,808
104,550
42,507
99,443
8,771
32,462

Totals.............................................................

12
67
84
60
73
48

98
67
87
60
12
00

$26,072,556 49

$26,004,603 03

91
67
25
72
26
79

16
00
52
49
09
85

$24,810,677 02

$23,792,797 23

Liabilities
Investment certificates outstanding...........................
Payments on installment certificates, unhypothePayments on installment certificates, hypothecated
Other industrial deposits..............................................
Interest, taxes and other expenses accrued and
unpaid.........................................................................
Special or valuation reserves.......................................
Other liabilities.............................................................
Capital account:
Capital notes and debentures..................................
Common stock...........................................................
Surplus.......................................................................
Undivided profits, net..............................................
Reserve for contingencies........................................
Retirement fund for preferred stock or capital
notes and debentures............................................

Totals.............................................................


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$983,927 38

$1,009,773 06

$986,300 33

$1,032,149 40

15,519,647 23
4,670,169 69
265,665 07

15,660,877 66
4,550,740 48
100,571 07

15,927,479 26
3,089,889 18
107,336 75

15,930,332 07
2,005,783 88
188,544 93

147,297 22
442,061 53
1,170,198 04

203,651 71
456,604 03
1,117,045 15

180,611 01
143,096 84
1,058,564 56

183,593 10
147,302 51
1,077,002 09

500.000
1,169,000
588,888
504,780
10,920

400,000
1,213,400
699,988
546,800
6,150

400,000
1,222,640
706,798
574,948
334,011

200,000
1,227,000
908,388
527,636
365,064

00
00
90
55
88

00
00
90
94
03

00
00
90
37
82

100.000 00

39,000 00

79,000 00

$26,072,556 49

$26,004,603 03

$24,810,677 02

00
00
90
22
13

$23,792,797 23

15

RE PORT OF THE COMMISSIONER

TABLE No. 4— Abstract of reports of condition of 7 Industrial Banks at the close
of business December 31, 1938

A ssets

Loans and d is co u n ts ................................................................
U nited States G overn m en t obligation s, direct and
g u a ra n teed ..............................................................................
O bligations of States and political su b d iv isio n s...........
O ther bon d s, notes and d eb en tu re s...................................
C orporate stocks (In clu d in g s to ck o f F ederal R eserve

4 O ther
Industrial
Banks

3 D etroit
Industrial
Banks

T o ta l fo r th e
7 Industrial
Banks

$ 1 1 ,4 5 7 ,3 9 0 77

$ 2 ,7 9 9 ,9 6 4 45

$ 1 4 ,2 5 7 ,3 5 5 22

2 ,3 6 6 ,9 5 3 95
2 64 ,347 76
8 9 ,2 3 7 78

1 ,1 6 4 ,1 8 8 63
3 86 ,625 77
6 48 ,351 50

3 ,5 3 1 ,1 4 2 58
6 5 0 ,9 7 3 53
7 3 7 ,5 8 9 28

1 ,2 3 9 ,4 7 0
102 ,550
3 3 ,7 8 9
5 ,5 4 2

3 ,9 1 8 ,6 7 4
180 ,550
36,381
104 ,929

4 0 ,5 0 0 00

4 0 ,5 0 0 00
Cash, balances w ith other banks, including reserve
balances, and cash item s in process o f c o lle ctio n . .
B ank prem ises o w n e d ..............................................................
Fu rn iture and fix tu res............................................................
R ea l estate ow ned other than ban k prem ises................
Investm ents and oth er assets in directly representing

2 ,6 7 9 ,2 0 4
7 8 ,0 0 0
2,5 9 1
9 9 ,3 8 6

85
00
41
44

07
00
93
98

92
00
34
42

O ther assets.................................................................................

1 ,6 2 6 15
3 7 ,1 0 2 84

5 3 ,231 29

1 ,6 2 6 15
9 0 ,3 3 4 13

T o t a ls ..........................................................................

$ 1 7 ,1 1 6 ,3 4 1 95

$ 6 ,4 3 3 ,7 1 4 62

$ 2 3 ,5 5 0 ,0 5 6 57

Liabilities
D em a n d deposits o f individuals, partnerships, and
c o rp o ra tio n s ............................................................................
T im e deposits o f individuals, partnerships, and
c o r p o r a tio n s ............................................................................

$ 4 0 ,5 7 9 46
1 3 ,7 7 9 ,9 3 4 61

$10 0 ,2 5 8 72
5 ,1 7 1 ,8 2 9
5 2 ,5 1 5
135 ,9 0 0
7 ,9 6 8

66
23
00
14

$ 1 4 0 ,8 3 8 18
1 8 ,9 5 1 ,7 6 4
5 2 ,5 1 5
1 4 5 ,9 0 0
7 ,9 6 8

27
23
00
14

D ep osits of b a n k s .....................................................................
O ther deposits (C ertified and officers’ checks, e t c . ) . . .

10,0 0 0 00

T o ta l D e p o s its .........................................................

$ 1 3 ,8 3 0 ,5 1 4 07

$ 5 ,4 6 8 ,4 7 1 75

$ 1 9 ,2 9 8 ,9 8 5 82

$ 1 0 ,0 0 0 00
1 ,0 4 8 ,4 8 5 29

$ 1 4 6,87 7 92

$ 1 0 ,0 0 0 00
1 ,1 9 5 ,3 6 3 21

7 0 0 ,0 0 0 00
9 7 0 ,0 0 0 00
2 3 1 ,2 4 6 87

5 2 7 ,0 0 0 00
2 3 6 ,0 0 0 00
4 5 ,4 8 6 45

1 ,2 2 7 ,0 0 0 00
1 ,2 0 6 ,0 0 0 00
2 76 ,733 32

3 26 ,095 72

9 ,8 7 8 50

3 3 5 ,9 7 4 22

$ 1 7 ,1 1 6 ,3 4 1 95

$ 6 ,4 3 3 ,7 1 4 62

$ 2 3 ,5 5 0 ,0 5 6 57

Bills payable, rediscounts an d oth er liabilities fo r
O ther liab ilities..........................................................................
C apital A cco u n t:
C om m on s t o c k .......................................................................
S u rp lu s......................................................................................
U n divid ed p r o fits .................................................................
R eserves (and retirem ent a cco u n t fo r preferred
c a p it a l) .................................................................................

T o t a ls ..........................................................................


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

16

STATE BANKING D EPARTM ENT

TABLE No. 5— Abstracts of reports of condition of Trust Companies of Michigan
at December 31, 1937, March 7, 1938, June 30, 1938 and September 28, 1938

Assets

Advances to trusts........................................................
Accounts receivable......................................................
Customers’ liability under letters of credit and

Report of
12-31-37
13 Trust
Companies

Report of
3-7-38
13 Trust
Companies

$4,016,161 34
426,451 82
277,485 14

Report of
6-30-38
13 Trust
Companies

$4,019,837 44
433,223 15
252,083 36

$4,010,882 45
433,468 69
188,614 40
6,900 00

10,591 00

2,634,805 93
783,241 72

2,648,500 89
773,561 73

2,666,022 65
731,691 12

2,639,099 24
876,124 11

25,097,587 35

25,162,366 46

24,117,915 20

25,352,032 59

4,550 00
United States Government obligations, direct and
guaranteed.................................................................
Other bonds, stocks and securities.............................
Cash, and balances with designated depositaries—
fiduciary funds..........................................................
Cash, and balances with other depositaries—
company funds..........................................................
Banking houses.............................................................
Furniture and fixtures..................................................
Safe deposit vaults.......................................................
Real estate owned other than banking houses.........
Real estate mortgages securing debentures...............
Accrued interest receivable..........................................
Other assets............................................. .....................

Totals.............................................................

Report of
9-28-38
13 Trust
Companies

1,193,411
2,609,245
213,037
31,324
454,108
19,646
4,333
1,253,204

27
70
09
15
33
53
50
77

1,311,084
2,608,795
212,948
31,324
431,512
19,636
2,323
1,204,634

39
70
55
15
92
53
26
69

1,517,462
2,607,895
210,596
31,324
329,974
19,586
3,538
1,102,970

87
70
47
15
87
53
47
68

$3,963,701 26
487.290 49
132,270 09

1,055,680
2,607,220
209,013
31,324
278.290
19,516
9,471
1,075,344

10
70
45
15
76
53
38
82

$39,018,594 64

$39,111,833 22

$37,978,844 25

$38,746,970 67

$25,568,905 88
7,100 00
55,700 00

$25,568,173 59
3,300 00
54,200 00

$24,432,527 58
1,500 00
36,500 00

$25,627,272 24
500 00
109,000 00

6,900 00

10,591 00

61,220 25
353.509 09
546,996 25

413,412 72
331,485 52
524,918 35

392,443 12
327,491 96
523,893 06

Liabilities
Fiduciary funds.............................................................
Debentures secured by mortgages..............................
Bills payable................................................................
Customers’ liability under letters of credit and

4,550 00
Interest, taxes and other expenses accrued and
unpaid.........................................................................
Special or valuation reserves.......................................
Other liabilities.....................................................
Capital Account:
First preferred stock.................................................
Second preferred stock.............................................
Common stock..........................................................
Surplus.......................................................................
Undivided profits......................................................
Reserve for contingencies........................................
Retirement fund for preferred stock......................

Totals.............................................................


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

336,232 92
352,060 62
552,311 88
1,625,331
127,860
5,428,560
3,507,002
1,023,222
310,206
119,550

00
00
00
36
65
74
59

$39,018,594 64

1,475,831
127,860
5,578,560
3,478,457
1,033,630
614,585
215.509

00
00
00
49
61
45
49

$39,111,833 22

1,475,831
127,860
5,578,560
1,259,750
1,387,956
2,401,642

00
00
00
00
21
87

$37,978,844 25

1,406,497 00
5,388,220
3,676,146
1,069,321
174,911
40,682

00
50
64
38
77

138,746,970 67

RE PO R T OF THE COMMISSIONER

17

TABLE No. 6— Abstracts of reports of condition of 13 Trust Companies at the
close of business December 31, 1938

Assets

Loans...........................................................................
Advances to trusts......................................................
Accounts receivable....................................................
Customers’ liability under letters of credit and
travelers’ checks......................................................
United States Government obligations, direct and
guaranteed............................_....................................
Other bonds, stocks and securities.............................
Cash and balances with designated depositaries—
fiduciary funds..........................................................
Cash and balances with other depositaries—•
company funds..........................................................
Banking houses.............................................................
Furniture and fixtures..................................................
Safe deposit vaults.......................................................
Real estate owned other than banking houses..........
Real estate mortgages securing debentures. . . . . . . .
Accrued interest receivable.
Other assets.........................

Totals.

4 Detroit
Trust Companies
in the 7th
Federal Reserve
District

8 other Trust
Companies in
the 7th
Federal Reserve
District

1 Trust
Company in
the 9th
Federal Reserve
District

$2,111,805 12
70,930 25
1,283 06

$1,685,668 10
400,542 24
80,977 36

$80,522 70

$3,877,995 92
471,472 49
82,260 42

2,469,900 51
140,988 76

290,201 74
620,681 24

68,053 74
19,862 50

2,828,155 99
781,532 50

17,339,585 08

10,162,249 46

56,238 66

27,558,073 20

5,750 00

900,500 54
1,475,000 00
42,088 57

318,259
1,105,531
162,423
31,324
260,913

22
17
22
15
12

5,750 00

3,069 20

19,451 53
836,695 38

10,865 25
214,465 03

$25,388,777 27

$15,349,851 30

$17,339,585 08

$10,397,567 81

Total for the
13 Trust
Companies

$247,198 33

1,221,828
2,580,531
204,51.1
31,324
260,913
19,451
10,865
1,051,160

96
17
79
15
12
53
25
41

$40,985,826 90

Liabilities
Fiduciary funds...........................................................
Debentures secured by mortgages............................
Bills payable................................................................
Customers’ liability under letters of credit and
travelers’ checks......................................................
Interest, taxes and other expenses accrued and
unpaid.......................................................................
Special or valuation reserves.....................................
Other liabilities...........................................................
Capital Account:
First preferred stock...............................................
Common stock..........................................................
Surplus.......................................................................
Undivided profits.....................................................
Reserve for contingencies........................................

Totals


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

........Î 5 j ÓÒÓ 00

393,408 57
10,500 00
4,127 97
1,226,340
3,309,660
2,287,681
753,284
64,189

00
00
19
61
85

$25,388,777 27

$56,238 66
$27,793,391 55
500 00
500 00
............................................... 15,000 00

5,750 00

5,750 00

17,942 71
312,657 87
527,018 68

411,351 28
323,157 87
531,146 65

111,000
2,505,300
890,650
453,430
113,534

00
00
00
06
17

$15,349,851 30

150,000 00

11,000 00
28,809 67
650 00

$247,198 33

1,337,340
5,964,960
3,189,331
1,235,524
178,374

00
00
19
34
02

$40,985,826 90

18

STATE BANKING D EPARTM ENT

TABLE No. 7—Abstracts of reports of the National Banks in Michigan at December
31, 1937, March 7, 1938, June 30, 1938 and September 28, 1938

Assets

Report of
12-31-37
83 National
Banks

Report of
3-7-38
83 National
Banks

Report of
6-30-38
83 National
Banks

Report of
9-28-38
83 National
Banks

Loans and discounts.....................................................
Overdrafts......................................................................
U. S. Government obligations, direct and/or fully
guaranteed.................................................................
Other bonds, stocks and securities.............................
Customers’ liability account of acceptances.............
Banking houses and furniture and fixtures...............
Real estate owned other than banking houses..........
Reserve with Federal Reserve Banks........................
Cash, balances with other banks, and cash items in
process of collection..................................................
Cash items not in process of collection......................
Other assets...................................................................

$165,067
87

$155,822
36

$155,109
57

$152,536
33

308,578
85,272
53
9,580
1,228
107,956

310,366
79,943
3
9,567
1,251
105,490

292,459
77,922
11
9,453
1,122
99,915

307,645
84,689
6
9,454
1,054
87,168

153,854
499
1,977

147,693
168
2,946

157,420
243
1,872

163,653
136
2,564

Totals.............................................................

$834,151

$813,285

$795,583

$808,938

$369,728

$345,500

$352,928

$346,388

235,849
77,762
11,270

234,670
88,984
10,507

231,836
56,232
12,398

228,134
71,661
15,851

73,184

66,806

74,656

53

3

ii

78,285
25
6

579
694
695
36,248
16,517
8,316
2,969
287

1,034
49
613
36,645
16,858
8,271
3,088
257

875
732
161
36,641
16,942
8,679
3,210
282

1,349
108
199
36,552
17,058
9,658
3,392
272

$834,151

$813,285

$795,583

$808,938

Liabilities
Demand deposits of individuals, partnerships and
corporations...............................................................
Time deposits of individuals, partnerships and
corporations...............................................................
State, county and municipal deposits........................
U. S. Government and postal savings deposits........
Deposits of other banks, certified and cashiers’
checks outstanding, etc............................................
Bills payable..................................................................
Acceptances executed for customers..........................
Interest, taxes and other expenses accrued and
unpaid.........................................................................
Dividends unpaid..........................................................
Other liabilities............................................................
Capital stock.................................................................
Surplus...........................................................................
Undivided profits—net.................................................
Reserves for contingencies...........................................
Preferred stock retirement fund.................................

Totals.............................................................

Figures given in thousands of dollars.
Amounts for reports of March 7, 1938, June 30, 1938 and September 28, 1938 taken from abstracts made by the Comptroller
of the Currency.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

RE PO R T OF THE COMMISSIONER

19

TABLE No. 8— Abstract of reports of condition of 82 National Banks in Michigan
at the close of business December 31, 1938
2 D e tro it
N ational
Banks

Assets

80 O ther
N ational
Banks

Loans and d is co u n ts.................. ............................................. $ 1 1 1 ,2 1 1 ,8 9 6 39
2 0 ,9 0 3 86
U nited States G overn m en t obligations, direct a n d /o r
fu lly g u a ra n teed ....................................................................
O ther bon d s, stocks, and se cu ritie s...................................
C u stom ers’ liability on a cco u n t o f acceptances
executed b y this ban k and b y oth er banks fo r
Banking houses and furniture and fix t u r e s ....................
R eal estate ow ned other th an ban kin g h o u se s.............
R eserve w ith Federal R eserve B a n k s ...............................
Cash, balances w ith other banks, and cash item s in
process of c o lle c t io n ............................................................
Cash item s not in process o f c o lle c tio n ............................

2 4 7 ,1 2 0 ,4 1 3 57
1 9 ,3 6 6 ,2 7 7 81
5 ,5 7 0 82
1 ,0 9 4 ,5 5 6 51

T o ta l fo r the
82 N ational
Banks

$ 6 2 ,9 7 7 ,8 6 9 31
11,353 23

$ 1 7 4 ,1 8 9 ,7 6 5 70
3 2 ,2 5 7 09

7 2 ,3 4 0 ,3 1 9 22
5 8 ,3 9 1 ,0 0 3 23

3 1 9 ,4 6 0 ,7 3 2 79
7 7 ,7 5 7 ,2 8 1 04
5 ,5 7 0
9 ,3 8 7 ,4 2 0
1 ,0 6 5 ,9 9 0
8 7 ,7 2 9 ,0 2 4

82
83
85
59

6 5 ,9 5 9 ,9 1 4 97

8 ,2 9 2 ,8 6 4 32
1 ,0 6 5 ,9 9 0 85
2 1 ,7 6 9 ,1 0 9 62

1 1 0 ,7 8 7 ,3 8 3 84
109,235 21
8 ,2 9 3 ,6 4 6 03

5 0 ,5 3 4 ,3 0 0 69
65,141 67
8 2 0 ,5 0 4 21

1 6 1 ,3 2 1 ,6 8 4 53
1 74 ,376 88
9 ,1 1 4 ,1 5 0 24

$ 5 6 3 ,9 6 9 ,7 9 9 01

$ 2 7 6 ,2 6 8 ,4 5 6 35

$ 8 4 0 ,2 3 8 ,2 5 5 36

$ 2 7 5 ,8 5 1 ,3 9 8 85

$ 8 1 ,1 1 0 ,7 7 5 45

$ 3 5 6 ,9 6 2 ,1 7 4 30

1 0 8 ,1 5 4 ,1 8 7 97
3 3 ,9 1 8 ,0 4 9 03
1 6 ,9 7 4 ,8 0 9 99

1 2 5 ,1 1 0 ,7 3 7 80
3 1 ,1 0 0 ,9 9 9 29
2 ,1 5 0 ,4 6 3 01

2 3 3 ,2 6 4 ,9 2 5 77
6 5 ,0 1 9 ,0 4 8 32
1 9 ,1 2 5 ,2 7 3 00

8 2 ,7 7 8 ,5 4 1 67

7 ,3 0 7 ,1 7 3 89

9 0 ,0 8 5 ,7 1 5 56

T o ta l D e p o s its ......................................................... $ 5 1 7 ,6 7 6 ,9 8 7 51

$ 2 4 6 ,7 8 0 ,1 4 9 44

$ 7 6 4 ,4 5 7 ,1 3 6 95

$ 2 5 ,0 0 0 00
14,923 28

$ 2 5 ,0 0 0 00
5 ,5 7 0 82
14,923 28

365 ,0 2 1 59
127,441 48
3 7 9 ,3 2 4 33

6 8 7 ,4 5 3 01
644 ,941 48
7 ,2 0 8 ,2 5 8 66

L iabilities
D em a n d deposits o f individuals, partnerships, and
T im e deposits o f individuals, partnerships and corState, co u n ty and m unicipal d e p o s its ..............................
U nited States G overn m en t and postal savings deposits
D ep osits o f other banks, certified and cashier’s
checks, cash letters o f credit and travelers’ checks

A ccep tan ces executed b y this ban k fo r c u s t o m e r s .. . .

$ 5 ,5 7 0 82

Interest, taxes, and other expenses accru ed and
D ivid en d s u n p a id ......................................................................
C a pital A c c o u n t:
Class A preferred s t o c k ......................................................
C om m on s t o c k ..................•...................................................
U n divid ed profits— n e t ......................................................
R eserves fo r con tin g en cie s................................................

3 22 ,431 42
5 1 7 ,5 0 0 00
6 ,8 2 8 ,9 3 4 33
9 ,5 0 0 ,0 0 0 00
1 0 ,5 0 0 ,0 0 0
1 1 ,0 0 0 ,0 0 0
6 ,2 6 7 ,6 1 5
1 ,3 5 0 ,7 5 9

00
00
04
89

R eserve for dividends paya ble in co m m o n s t o c k . ..

$ 5 6 3 ,9 6 9 ,7 9 9 01

4 ,7 5 4 ,5 3 0
6 2 0 ,0 0 0
1 0 ,6 6 9 ,7 5 0
6 ,6 6 9 ,8 5 8
3 ,1 4 9 ,6 7 4
2 ,3 6 7 ,1 5 1
292,931
5 2 ,7 0 0

00
00
00
82
19
56
66
00

$ 2 7 6 ,2 6 8 ,4 5 6 35

1 4 ,2 5 4 ,5 3 0
6 2 0 ,0 0 0
2 1 ,1 6 9 ,7 5 0
1 7 ,6 6 9 ,8 5 8
9 ,4 1 7 ,2 8 9
3 ,7 1 7 ,9 1 1
292 ,931
5 2 ,7 0 0

00
00
00
82
23
45
66
00

$ 8 4 0 ,2 3 8 ,2 5 5 36

TABLE No. 9— Applications for Charter Approved.

N am e o f B ank


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L o ca tio n

D a te o f C ertificate
o f A u th o rity

3-3-38
7-1-38

C apital Stock

$ 2 5 ,0 0 0 00
8 0 0 ,0 0 0 00

20

STATE BANKING D EPARTM ENT
TABLE No. 10— Branch offices established.
N am e o f Bank

L o ca tio n

L o ca tio n o f Branch

D a te Branch
O ffice O pened

4-1-38
9-1-38
9-1-38

TABLE No. 11— Branch offices discontinued.
N am e o f Bank

L o ca tio n

L o ca tio n o f Branch

D a te Branch
Office
D iscon tin u ed

Jackson C ity Bank and T rust C o ...........

J a c k s o n ...................................

J a c k s o n .........................

5612-5-38

TABLE

N o.

14-38
30-38

12— Banks merged.
D ate of
M erger

Bank M erged

M erged w ith

M ecosta C ou n ty State Bank, M e c o s ta ...............
W ab eek State Bank, B irm in gh am ........................
C linton C ou n ty Savings Bank, St. Joh n s...........

C itizens State Bank, Big R a p id s ...............................
W a b eek State Bank o f D e tro it, D e t r o it .................
St. Johns N ation a l Bank, St. J o h n s .........................

10-8-38
3-31-38
910-

TABLE No. 13— Changes of Corporate Title.
D a te of
Change

10- 5-38
1-27-38
2- 9-38
7-22-38
2- 4-38
3-21-38
10-31-38

L oca tion of
Institution

F rom

A lle g a n ...................

A llegan State Savings B a n k ..................................

A llegan State Bank

N ew B a ltim o re . . .
P in c o n n in g ............
W a r r e n ...................
W y a n d o t t e ............

The
The
The
The

H u dson State Savings Bank
C itizens State Savings Bank
P inconning State Bank
T h e C o m m u n ity Bank
W y a n d o tte Savings Bank

To

C itizens State Savings B a n k .......................
P inconning State B a n k ..................................
State Savings B a n k .........................................
W y a n d o tte Savings B a n k .............................

TABLE No. 14— Changes in par value of Common Stock.
N am e o f In stitu tion

L o ca tio n

C hange

F rom $100.00 to $50.00 per share
F rom $100.00 to $20.00 per share.
F rom $100.00 t o $1.00 per share.

TABLE No. 15— Institutions closed during 1938.
A t D ate o f Closing
D a te
C losed

A m o u n t Paid
Creditors
to 12-31-38

Institution
Resou rces

11- 7-38
4-28-38
1-28-38

Farm ers State Bank, H en d erson .......................
State B ank o f R eadin g, R e a d in g ......................
T r o u t C reek State Bank, T r o u t C r e e k ..........

$ 9 2 ,2 2 6 06
2 3 6 ,0 5 8 00
6 2 ,9 1 2 70

Liabilities

$ 7 6 ,0 5 3 44
2 0 7 ,0 0 4 86
3 7 ,9 9 9 21

$ 7 4 ,7 6 6 83
2 06 ,363 60
* 1 8 ,7 1 9 09

*AU claim s w ith original balance o f $5,000.00 and under w ere insured b y th e Federal D e p o sit Insurance
C orporation , w ho paid sam e u p on p ro o f and assignm ent o f claim , and now stands in position o f original claim ant.


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Federal Reserve Bank of St. Louis

1-38
31-38

RE PO R T OF THE COMMISSIONER

21

TABLE No. 16— Changes in Capital Stock.
Preferred Stock
Name of Institution

Common Stock

Location
Issued

Retired

Increased

Decreased

$45,000 00
Peoples State Bank..............................
Ann Arbor Savings and Commercial
Bank..................................................
Lake County State Bank....................
Benton Harbor State Bank................
Berrien Springs State Bank................
Citizens State Bank............................
Blissfield State Bank...........................
Jipson-Carter State Bank...................
Farmers State Bank............................

“ B” $25,000 00

$50,000 00
“ A” $96,000 00
“ A” 22,400 00
“ A”
2,400 00

Benton Harbor . “ A”

50,000 00

“ A”

5,000 00

“ A”

8,800 00

“ A”
“ A”

5,500 00
40,000 00

25,000 00
10,000 00
“ A”
“ A”
“ A”
“ A”

10,000 00
5,000 00
State Bank of Coleman......................
2,000 00
First State Bank..................................
3,000 00
Delton State Bank..............................
3,000 00
Commonwealth-Commercial State B’k Detroit...............
“ A” 100,000 00
Commonwealth Bank..........................
“ A” 150,000 00
The Detroit Bank................................
“ A” 40,000 00
“ A” 1,000,000 00 “ A” l,263,691 00
“ A” 101,260 00
“ A” 226,340 00 “ B” 127,860 00
Industrial Morris Plan Bank.............. Detroit...............
“ C " 500,000 00
United Savings Bank.......................... Detroit...............
“ A” 75,000 00
Wabeek State Bank of Detroit..........
Peoples State Bank..............................
“ A”
2,500 00
Farmington State Bank......................
“ A”
7,500 00
State Savings Bank.............................
“ A”
2,000 00
Genesee County Savings Bank..........
Merchants and Mechanics Bank.......
First State and Savings Bank............
“ A”
2,816 00
State Savings Bank.............................
“ A”
2,400 00
First State Savings Bank.................... Gladwin............. “ A” 30,000 00
Grand Ledge State Bank....................
Loan and Deposit State Bank...........
Old Kent Bank....................................
“ A” 250,000 00
Hemlock State Bank...........................
“ A” 10,000 00
Hudsonville State Bank......................
“ A " 12,500 00
Jackson City Bank and Trust C o . . ..
“ A” 33,000 00
Kalkaska State Bank..........................
“ A”
3,000 00
Union State Bank................................
“ A”
9,000 00
Lake City State Bank.........................
“ A"
2,000 00
State Savings Bank.............................
“ A”
1,700 00
Luther State Bank..............................
“ A”
2,400 00
State Savings Bank..............................
“ A”
300 00
Mecosta County State Bank..............
Farmers and Merchants State Bank.
Oakland County State Bank.............. Milford.............. “ A”
25,000 00
Muskegon Savings B a n k....................
“ A” 15,000 00
Muskegon Trust Company................ Muskegon.......... “ A”
620 00
First State Bank..................................
“ A” 20,000 00
“ A” 30,000 00
Newberry State Bank.........................
" B ” 15,000 00
Owosso Savings Bank..........................
“ B” 102,250 00
State Bank of Perry............................
“ A”
2,600 00
Plymouth United Savings Bank........
“ A” 25,000 00
Pompeii State Bank............................
“ B ” 20,000 00
First State Bank..................................
“ A”
3,000 00
Romulus State Bank...........................
“ A”
5,000 00
Commercial and Savings Bank.......... St. Clair.............
“ A” 15,000 00
State Bank of St. Johns......................
“ A”
6,000 00
Saginaw State Bank............................
“ A” 26,000 00
State Bank of Sandusky.....................
“ A”
800 00
State Savings Bank.............................
The Community Bank........................
“ A”
7,500 00
Peoples State Bank..............................
“ A”
1,000 00
“ A”
5,000 00
Wyandotte Savings Bank...................
“ B” 228,000 00
“ A” First Preferred stock.


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Federal Reserve Bank of St. Louis

“ B” Second Preferred stock.

22,400 00

“ C” Capital Debentures.

5,000 00

576,740 00
190,340 00
400,000 00

300,000 00
58,000 00

6,660 00
3,425 00
12,500 00
5,000 00

20,000 00
5,000 00

10,000 00

10,000 00
30,000 00

5,000 00

5,000 00
7,500 00
200,000 00

200,000 00

STATE BANKING D EPARTM ENT

22

TABLE No. 17— Banks admitted to membership in the Federal Reserve System.
D a te

N am e o f Bank

L o ca tio n

5-16-38
8-13-38
4-11-38
1-20-38
8-30-38
8-17-38
7-27-38

Springport
W y a n d o tte

TABLE No. 18— Bank admitted to insurance with Federal Deposit Insurance
Corporation
N am e o f Bank

D ate

L o ca tio n

3-3-38

B a y P ort

TABLE No. 19— Extensions of corporate existence.
N am e o f Bank

Farm ers State Bank of W e b b e r v ille ..........................

L o ca tio n

W e b b e r v ille .............................................

E x te n d e d to T h ir ty
Y ea rs from
3-12-38
11- 6-38
5- 9-38
4- 2-38
1- 4-38
3- 5-38
5-26-38
10-31-38
10-14-38
8-28-38
12- 3-38
5-21-38
6- 4-38
2-12-38
3-25-38
3- 5-38
8-20-38
5-13-38
2-12-38
1-13-38
6- 4-38
12-29-38

TABLE No. 20— List of hanks granted Industrial Loan powers.
Name of Bank
Location
The Addison State Savings Bank................................................................... Addison
The Commercial and Savings Bank of Albion.............................................. Albion
Allegan State Bank............................................................................................ Allegan
Alpena Savings Bank.........................................................................................Alpena
The Peoples State Bank of Alpena................................................................. Alpena
Farmers State Bank of A lto............................................................................. Alto
Ann Arbor Savings and Commercial Bank....................................................Ann Arbor
State Savings Bank of Ann Arbor................................................................... Ann Arbor
The Peoples State Savings Bank..................................................................... Auburn
State Bank of Augusta...................................................................................... Augusta
Hubbard State B a n k ......................................................................................... Bad Axe
Lake County State Bank.................................................................................. Baldwin
The Lakeview State Bank of Battle Creek....................................................Battle Creek
The Bay City Bank....................................... .....................................................Bay City
Peoples State Bank............................................................................................ Bellevue


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Federal Reserve Bank of St. Louis

RE PO R T OF THE COMMISSIONER
Big Rapids Savings Bank.................................................................................. Big Rapids
The Blissfield State Bank.................................................................................. Blissfield
Jipson-Carter State Bank.................................................................................. Blissfield
The State Savings Bank.................................................................................... Bridgman
Union State Bank............................................................................................... Buchanan
The Wolf Bros. State Bank.............................................................................. Centreville
Charlevoix County State Bank........................................................................ Charlevoix
The Charlevoix State Savings Bank................................................................Charlevoix
Eaton County Savings Bank............................................................................ Charlotte
Chesaning State Bank.................. •....................................................................Chesaning
Clarkston State Bank. .......................................................................................Clarkston
Edwin Nash State Bank.................................................................................... Clarksville
The Clio State Bank............................................. ............................................ Clio
The Branch County Savings Bank.............................................
Coldwater
First Commercial Savings Bank.......................................................................Constantine
Commonwealth Bank......................................................................................... Detroit
The Detroit Bank.............................................................. •••.......................... Detroit
The United Savings Bank of Detroit.............................................................. Detroit
Wabeek State Bank of D etroit.........................................................................Detroit
Monroe County Bank........................................................................................ Dundee
First State Bank..................................................................................................East Detroit
State Bank of East Jordan............................................................................... East Jordan
Ecorse Savings Bank.......................................................................................... Ecorse
The Empire State Bank.....................................................................................Empire
The State Savings Bank of Escanaba.............................................................Escanaba
The Farmington State Bank........................... .................................................Farmington
State Savings Bank of Fenton..........................................................................Fenton
The State Savings Bank of Flat R ock ............................................................Flat Rock
Citizens Commercial and Savings Bank......................................................... Flint
Genesee County Savings Bank................................................ ........................ Flint _
Peoples State Bank.......................................................... .................................. Flushing
Fountain State Bank.......................................................................................... Fountain
State Savings Bank.............................................................................................Fowler
State Savings Bank........................................... .................................................Frankfort
The State Bank of Fraser.................................................................................. Fraser
Gaylord State Savings Bank....................... ..................................................... Gaylord
Grand Haven State Bank.................................................................................. Grand Haven
Grand Ledge State Bank............... ................................................................... Grand Ledge
Loan and Deposit State Bank.......................................................................... Grand Ledge
Central Bank....................................................................................................... Grand Rapids
Old Kent Bank.................................................................................................... Grand Rapids
Union Bank of Michigan...................................................................................Grand Rapids
Community State Bank.................................................................................... Grandville
Commercial State Savings Bank...................................................................... Greenville
First State Bank of Greenville......................................................................... Greenville
The Grosse Pointe Bank....................................................................................Grosse Pointe
The Bank of Hamtramck.................................................................................. Hamtramck
The Liberty State Bank of Hamtramck.........................................................Hamtramck
Peoples State Bank.............................................................................................Hamtramck
State Bank of Harbor Beach............................................................................Harbor Beach
Van Buren State Bank.................................................................... ..................Hartford
The Hastings City Bank....................................................................................Hastings
The Holland State Bank....................................................................................Holland
The Peoples State Bank of Holland...................... ........................................ Holland
The First State and Savings Bank.................................................................. Holly
Calhoun State Bank........................................................................................... Homer
The Honor State Bank.......................................................................................Honor
Howard City State Bank...................................................................................Howard City
First State and Savings Bank...........................................................................Howell
State Savings Bank of Ionia............................................................................. Ionia
Jackson City Bank and Trust Com pany........................................................Jackson
The Home Savings Bank of Kalamazoo.........................................................Kalamazoo
Kalkaska State Bank..................................................................... .................... Kalkaska
The Kent City State Bank................................................................................City
The Kingston State Bank..................................................................................Kingston
The Lake City State Bank................................................................................Lake City
Union Bank.......................................................................................................... Lake Odessa


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Federal Reserve Bank of St. Louis

23

24

STATE BANKING D EPARTM ENT

American State Savings Bank.......................................................................... Lansing
Bank of Lansing.................................................................................................. Lansing
The State Bank of Levering..............................................................................Levering
The State Savings Bank of Lincoln Park.......................................................Lincoln Park
Manistee County Savings Bank.......................................................................Manistee
The State Savings Bank of Manistique.......................................................... Manistique
The Peoples State Bank of M aybee................................................................ Maybee
The Mayville State Bank.................................................................................. Mayville
First State Bank.................................................................................................. Mendon
The Commercial Bank of Menominee............................................................ Menominee
Farmers State Bank............................................................................................Middleville
Peoples State Bank............................................................................................. Milan
The Oakland County State Bank.................................................................... Milford
Dansard State Bank........................................................................................... Monroe
The Montrose State Bank.................................................................................Montrose
The First State Savings Bank of Morenci........ ............................................ Morenci
The Mt. Clemens Savings Bank...................................................................... M t. Clemens
Exchange Savings Bank.....................................................................................Mt. Pleasant
Peoples State Bank of Munising...................................................................... Munising
The Muskegon Savings Bank........................................................................... Muskegon
State Bank of Niles............................................................................................ Niles
New Haven Savings Bank. . ............................................................................ New Haven
Depositors State Bank....................................................................................... Northville
State Bank of Ortonville....................................................................................Ortonville
State Savings Bank............................................................................................ Otsego
State Savings Bank of O vid.............................................................................. Ovid
The Owosso Savings Bank................................................................................ Owosso
The State Savings Bank of Owosso................................................................. Owosso
John W. Free State Bank..................................................................................Paw Paw
H. C. McLachlin and Co. State Bank.........................................................Petersburg
First State Bank of Petoskey........................................................................... Petoskey
Plymouth United Savings Bank........... ...........................................................Plymouth
Maynard-Allen State Bank............................................................................... Portland
Peoples Savings Bank.........................................................................................Port Huron
First State Bank of Ravenna............................................................................Ravenna
River Rouge Savings Bank............................................................................... River Rouge
Romeo Savings Bank..........................................................................................Romeo
The Romulus State Bank.................................................................................. Romulus
Guardian Bank of Royal O ak.......................................................................... Royal Oak
Saginaw State Bank............................................................................................ Saginaw
The Commercial and Savings Bank of St. Clair...........................................St. Clair
Kalamazoo County State Bank........................................................................Schoolcraft
State Savings Bank of Scottville...................................................................... Scottville
Citizens State Bank............................................................................................ South Haven
The State Savings Bank of South Lyon......................................................... South Lyon
Sparta State Bank...............................................................................................Sparta
The Commercial Bank of Stambaugh............................................................. Stambaugh
The Citizens State Bank....................................................................................Sturgis
First Peoples State Bank...................................................................................Traverse City
Traverse City State Bank..................................................................................Traverse City
Peoples State Bank of Trenton........................................................................ Trenton
Trenton State Bank............................................................................................ Trenton
The State Bank of Vassar........................ ........................................................Vassar
Vernon State Bank............................................................................................. Vernon
The Community Bank....................................................................................... Warren
The Wayne State Bank......................................................................................Wayne
The Farmers State Bank of Webberville........................................................Webberville
The Farmers Savings Bank of White Pigeon.................................................White Pigeon
Wyandotte Savings Bank.................................................................................. Wyandotte


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Federal Reserve Bank of St. Louis

R E PO R T OF THE COMMISSIONER
TABLE No. 21— List of banks granted Trust Powers.
Full Trust Powers.
Name of Bank
Location
Alpena Savings Bank.........................................................................................Alpena
State Savings Bank............................................................................................ Ann Arbor
Merchants and Miners Bank............................................................................ Calumet
United Savings Bank...................................... ...................................................Detroit
Citizens Commercial and Savings Bank........................................................ Flint
Jackson City Bank and Trust Com pany....................................................... Jackson
American State Savings Bank..........................................................................Lansing
Dansard State Bank...........................................................................................Monroe
Peoples Savings Bank........................................................................................ Port Huron
The Citizens State Bank................................................................................... Sturgis
Wyandotte Savings Bank..................................................................................Wyandotte
Limited Trust Powers
Hubbard State Bank.......................................................................................... Bad Axe
Benton Harbor State Bank. .......................................................................... Benton Harbor
Central State Bank.............................................................................................Beulah
Big Rapids Savings Bank.................................................................................. Big Rapids
Citizens State Bank............................................................................................ Big Rapids
Blanchard State Bank........................................................................................Blanchard
Blissfield State Bank.......................................................................................... Blissfield
Jipson-Carter State Bank..................................................................................Blissfield
Peoples State Bank.............................................................................................Bronson
Cadillac State Bank............................................................................................Cadillac
Cass City State Bank.........................................................................................Cass City
The Pinney State Bank..................................................................................... Cass City
Eaton County Savings Bank............................................................................ Charlotte
Chesaning State Bank........................................................................................ Chesaning
Clarkston State Bank.........................................................................................Clarkston
Lee State Bank.................................................................................................... Dowagiac
Monroe County Bank........................................................................................ Dundee
East Lansing State Bank...................................................................................East Lansing
State Savings Bank.............................................................................................Escanaba
State Savings Bank.............................................................................................Fenton
First State and Savings Bank.......................................................................... Flushing
Fountain State Bank.......................................................................................... Fountain
State Savings Bank.............................................................................................Frankfort
Old State Bank.................................................................................................... Fremont
Peoples Savings Bank.........................................................................................Grand Haven
Loan and Deposit State Bank.......................................................................... Grand Ledge
First State Bank..................................................................................................Greenville
Gwinn State Savings Bank............................................................................... Gwinn
Emmet County State Bank.............................................................................. Harbor Springs
First State Bank.................................................................................................. Holland
Holland State Bank............................................................................................ Holland
First State and Savings Bank...........................................................................Howell
State Savings Bank.............................................................................................Ionia
Lapeer Savings Bank.......................................................................................... Lapeer
Ludington State Bank........................................................................................ Ludington
State Savings Bank.............................................................................................Manistique
The G. W . Jones Exchange Bank.................................................................... Marcellus
Isabella County State Bank.............................................................................. Mount Pleasant
Newport State Bank.................’.........................................................................Newport
Owosso Savings Bank......................................................................................... Owosso
Oxford Savings Bank.......................................................................................... Oxford
John W. Free State Bank.................................................................................. Paw Paw
H. C. McLachlin and Co. State Bank............................................................ Petersburg
First State Bank.................................................................................................. Petoskey
Pigeon State Bank...............................................................................................Pigeon
Plymouth United Savings Bank.......................................................................Plymouth
State Bank of Port H ope...................................................................................Port Hope
State Savings Bank............................................................................................. Remus


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Federal Reserve Bank of St. Louis

25

26

STATE BANKING DEPARTMENT

Saginaw State Bank...................................... ..................................................... Saginaw
Commercial and Savings Bank........................................................................St. Clair
Fruit Growers State Bank................................................................................ Saugatuck
Central Savings Bank.........................................................................................Sault Ste. Marie
First State Bank................................................................................................. South Haven
Springport State Savings Bank....................................................................... Springport
State Savings Bank............................................................................................Stanton
United Savings Bank......................................................................................... Tecumseh
Traverse City State Bank.................................................................................Traverse City
Wayne State Bank............................................................................................. Wayne
Zeeland State Bank............................................................................................Zeeland
Limited Trust Powers and the power to act as Trustee under Testamentary Trusts
Branch County Savings Bank...................................................................... .. . Coldwater
Grand Haven State Bank..................................................................................Grand Haven
Monroe State Savings Bank..............................................................................Monroe
First Peoples State Bank...................................................................................Traverse City
TABLE No. 22— 116 Member Banks of Federal Reserve System in the Seventh
Federal Reserve District as of December 31, 1938.
Name of Bank
*Adrian State Savings Bank..........................
*The Commercial Savings Bank...................
*Lenawee County Savings Bank..................
The Commercial and Savings Bank...........
*The Algonac Savings Bank..........................
Alpena Savings Bank....................................
The Farmers State Bank of A lto................
*Ann Arbor Savings and Commercial Bank
*State Savings Bank of Ann Arbor..............
*The Armada State Bank..............................
*Bay City Bank...............................................
*Peoples Commercial and Savings Bank. _.
*Peoples State Bank............................... ..
Berrien Springs State Bank.........................
Big Rapids Savings Bank.............................
The Blanchard State Bank..........................
*The Blissfield State Bank.............................
Peoples State Bank of Bronson..................
*Brown City Savings Bank...........................
*Capac State Savings Bank.............. ............
*The Cass City State Bank...........................
*The Pinney State Bank..........................
The Cass County State Bank.....................
The Charlevoix County State Bank..........
Eaton County Savings Bank.......................
*Chelsea State Bank.......................................
*The Chesaning State Bank..........................
*Clarkston State Bank...................................
The State Bank of Coloma..........................
Coopersville State Bank...............................
*The Old Corunna State Bank.....................
*State Bank of Croswell.................................
*Davison State Bank......................................
*The Detroit Bank..........................................
industrial Morris Plan Bank.......................
*The United Savings Bank............................
*Monroe County Bank...................................
*Ecorse Savings Bank.....................................
*The Farmington State Bank.......................
The Old State Bank......................................
*State Savings Bank of Fenton....................
*Citizens Commercial and Savings B ank...


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Federal Reserve Bank of St. Louis

Location
.Adrian
,Adrian
Adrian
Albion
Algonac
Alpena
Alto
Ann Arbor
Ann Arbor
Armada
Bay City
Bay City
Belleville
Berrien Springs
Big Rapids
Blanchard
Blissfield
Bronson
Brown City
Capac
, Cass City
Cass City
Cassopolis
Charlevoix
Charlotte
Chelsea
Chesaning
Clarkston
Coloma
Coopersville
Corunna
Croswell
Davison
Detroit
Detroit
Detroit
Dundee
Ecorse
Farmington
Fennville
Fenton
Flint

RE PORT OF TH E COMMISSIONER
*The Genesee County Savings Bank.............
Fountain State Bank.......................................
*Frankenmuth State Bank...............................
The Fremont State Bank...............................
The Old State Bank of Fremont...................
*The State Savings Bank of Gagetown.........
Grand Haven State Bank...............................
The Peoples Savings Bank of Grand Haven
Old Kent Bank.................................................
Community State Bank..................................
Commercial State Savings Bank...................
First State Bank of Greenville......................
*Grosse Pointe Bank.........................................
Emmet County State Bank...........................
*Hillsdale State Savings Bank........................
Holland State Bank.........................................
The Peoples State Bank of Holland.............
*The First State and Savings Bank...............
*The First State and Savings Bank...............
*Imlay City State Bank...................................
*Jackson City Bank and Trust Company. . .
*The Grosvenor Savings Bank........................
*The Kingston State Bank..............................
Bank of Lakeview............................................
*American State Savings Bank.......................
*Bank of Lansing...............................................
*Lapeer Savings Bank of Lapeer....................
The Home State Bank of Lawrence.............
State Savings Bank.........................................
*Peoples Bank......... ; .........................................
*Union Savings Bank........................................
The Manistee County Savings Bank...........
G. W. Jones Exchange Bank......................
The Commercial Savings Bank of Marshall,
*The Farmers Bank of M ason........................
The Chemical State Savings Bank...............
*Peoples State Bank of M ilan.........................
*Oakland County State Bank.........................
*Dansard State Bank........................................
Farmers State Bank........................................
*The Mount Clemens Savings Bank..............
Exchange Savings Bank.................................
Isabella County State Bank..........................
*Citizens State Savings Bank..........................
*New Haven Savings Bank.............................
*Pioneer Bank....................................................
*The Onsted State Bank..................................
*Oxford Savings Bank.......................................
The First State Bank of Petoskey................
*The Pigeon State Bank...................................
*Pinconning State Bank...................................
*Macomb County Savings Bank....................
*The Romeo Savings Bank..............................
^Guardian Bank of Royal O ak.......................
*Saginaw State Bank........................................
*The St. Charles State Bank...........................
*The Commercial and Savings Bank.............
State Bank of St. Johns..................................
The Fruit Growers State Bank.....................
*Farmers and Merchants State Bank............
Citizens State Bank of South H aven...........
First State Bank of South Haven.................
Sparta State Bank...........................................
The Spring Lake State Bank.........................
The Springport State Savings Bank............
Traverse City State Bank..............................
*Trenton State Bank.........................................


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Federal Reserve Bank of St. Louis

27
Flint
Fountain
Frankenmuth
Fremont
F remont
Gagetown
Grand Haven
Grand Haven
Grand Rapids
Grandville
Greenville
Greenville
Grosse Pointe
Harbor Springs
Hillsdale
Holland
Holland
Holly
Howell
Imlay City
Jackson
Jonesville
Kingston
Lakeview
Lansing
Lansing
Lapeer
Lawrence
Lowell
Manchester
Manchester
Manistee
Marcellus
Marshall
Mason
Midland
Milan
Milford
Monroe
Montague
Mount Clemens
Mt. Pleasant
Mt. Pleasant
New Baltimore
New Haven
North Branch
Onsted
Oxford
Petoskey
Pigeon
Pinconning
Richmond
Romeo
Royal Oak
Saginaw
St. Charles
St. Clair
St. Johns
Saugatuck
Sebewaing
South Haven
South Haven
Sparta
Spring Lake
Springport
Traverse City
Trenton

STATE BANKING DEPARTMENT

28

*State Bank of Vassar....................................................................................... Vassar
*The Wayne State Bank................................................................................... Wayne
The State Bank of Whitehall......................................................................... Whitehall
*Peoples State Bank....................
Williamston
*Wyandotte Savings Bank................................................................................Wyandotte
W ale State Bank................................................................................................Yale
Zeeland State Bank.......................................................................................... Zeeland
*Members of Detroit Branch of Federal Reserve Bank of Chicago.

TABLE No. 23— 9 Member banks of Federal Reserve System in the Ninth Federal
Reserve District as of December 31, 1938.
Name of Bank
Location
State Savings Bank.............................................................................................Escanaba
State Bank of Ewen............................................................................................Ewen
Gladstone State Savings Bank......................................................................... Gladstone
The Commercial Bank of Iron Mountain...................................................... Iron Mountain
Miners State Bank of Iron R iver.................................................................... Iron River
Commercial Bank of L ’Anse............................................................................. L ’Anse
The Commercial Bank of Menominee................... .........................................Menominee
Central Savings Bank.........................................................................................Sault Ste. Marie
Sault Savings Bank.............................................................................................Sault Ste. Marie

TABLE No. 24— Earnings and dividends of 356 State Banks, 7 Industrial Banks,
and 13 Trust Companies for the year ended December 31, 1938.
Gross Earnings.....................................................................................................
Expenses, interest and taxes paid....................................................................

$29,253,416 81
21,170,041 77

Net Operating Earnings....................................................................

$8,083,375 04

Profits on securities sold....................................................................................
Recoveries on charged-off assets............................. .................................. ..

2,333,352 05
2,010, 722 31

Losses and depreciation charged o ff................................................................

$12,427,449 40
8,592,841 21

Net Addition to Profits before Dividends, Reserves, etc............

$3,834,608 19

Dividends paid.....................................................................................................

$1,663,709 49

Average total capital investment.....................................................................
Average total deposits........................................................................................
Percentage of net operating earnings to average capital investment.......
Percentage of net addition to profits before dividends, reserves, etc. to
average capital investment............................................................................
Percentage of dividends paid to average capital investment.....................
Percentage of net operating earnings to average deposits..........................

78,240,362 06
660,793,713 61
10.33%


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Federal Reserve Bank of St. Louis

4 .9 0 %
2.1 2%
1.2 2%

RE PO R T OF THE COMMISSIONER

29

TABLE No. 25— Abstract of reports of Michigan banks listing number of depositors
and average deposits as at December 31, 1938.
Demand Deposits

Time Deposits

Banks
Number of
Depositors

287,214

Total
Deposits

$270,330,544 47

Average
Deposit

$941 22

7 Industrial Banks..............
Totals for State and
Industrial Banks.........

Totals for State, In­
dustrial and National Bks

Number of
Depositors

913,851
46,306

Total
Deposits

Average
Deposit

$363,966,787 13
19,298,985 82

$398 28
416 77

287,214

$270,330,544 47

$941 22

960,157

$383,265,772 95

$399 17

140,360

$528,320,840 82

$3,764 04

593,865

$236,136,296 13

$397 62

427,574

$798,651,385 29

$1,867 86

1,554,022

$619,402,069 08

$398 58

TABLE No. 26— Number of examinations conducted during year ended
December 31, 1938.
Particulars
Banks, Trust Companies and Industrial Banks— First examinations.. . .
Banks, Trust Companies and Industrial Banks— Second examinations. .
Credit Union examinations........................................
Small Loan Company examinations................................................................
Application for charter investigations.............................................................
Special examinations...........................................................................................
Institutions in liquidation— examinations and a u d its.................................

Number
381
46

153
210
3

3
225

TABLE No. 27— Designation of Reserve Cities for banks which are not member
banks under the Federal Reserve Act.
As required by Section 67 of the Michigan financial institutions act, the following cities
were designated for the year 1938 as reserve cities for banks which were not member banks
under the Federal Reserve Act, and any incorporated bank, state or national, in such
cities was a legal depositary for reserve funds if it had the required capital and surplus:
Alpena, Ann Arbor, Battle Creek, Bay City, Birmingham, Calumet, Detroit, Flint,
Grand Rapids, Houghton, Jackson, Kalamazoo, Lansing, Marquette, Muskegon, Port
Huron, Saginaw, Traverse City, Baltimore, Boston, Buffalo, Chicago, Cincinnati, Cleve­
land, Duluth, Milwaukee, Minneapolis, New York, Philadelphia, Pittsburgh, St. Paul,
Toledo, and Kansas City, Missouri.
The same cities were designated as reserve cities for the year 1939.


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Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

30

TABLE No. 28— Receipts and disbursements of the State Banking Department.
General Appropriations
Receipts:
Annual examination fees................................................................................
Special fees................................................................
Small Loan Company fees.................................................. ' .........................
Application to organize fees..........................................................................
Credit Union fees.............................................................................................
Special examination fees.................................................
Miscellaneous income and refunds...............................................................

$95,772
836
19,633
150
3,025
212
125

09
65
38
00
00
30
02

Total Receipts.....................................................................................

$119,754 44

Disbursements:
Salaries...............................................................................................................
Expenses, supplies and equipment...............................................................

$100,826 53
50,178 68

Total Disbursements..........................................................................

$151,005 21

Revolving Fund
Balance in account December 31, 1937..........................................................
Revolving fund receipts.....................................................................................

$46,522 87
115,551 62

T otal......................................................._..............................................
Less: Revolving fund expenses, salaries, supplies, etc..................................

$162,074 49
112,960 81

Balance in account December 31, 1938..............................................

$49,113 68


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Federal Reserve Bank of St. Louis


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

TABLE No. 29— Departm ent Receiverships. Receivers appointed under the provisions o f A ct 32, P. A . o f 1933, as amended. Report o f Commissioner o f Banking Departm ent indicating results o f liquidation o f departm ent receiverships to December 31, 1938.

Date
of Receiver­
ship

5-29-34
2- 20-34
11-21-33
9-24-35
87-10-34
7-27-34
1- 2-34
5- 8-34
33-28-34
7-31-34
9510- 4-33
9- 1-33
1112- 4-33
7-16-34
76- 12-34
10-22-34
6-12-34
10- 9-34
8521833- 7-34
42- 20-34
10-31-33
1096- 29-33
7116-12-34
5- 7-34
8- 23-33

Location

Amble........................
Applegate..................
Armada.....................
Bancroft....................
28-34
Byron........................
Central Lake.............
Conklin......................
Coopersville..............
Coral..........................
14-34
Dryden......................
East Jordan..............
Elk Rapids................
27-33
Flint.....................
15-34
Gobles.......................
Grand Rapids...........
Grand Rapids...........
27-33 Rapids...........
Grand
Kalamazoo................
Kingsley....................
25-34
Lakeview...................
Lexington..................
Mackinac Island. . . .
Maple Rapids...........
McBride....................
22-34
Milford......................
M29-34
illb u r g ........................
20-34
Muskegon
Heights...
20-34
Numca.........
............
29-33
Oxford.......................
14-34
Parma........................
Peck...........................
23-34
Pittsford....................
Rockwood.................
Saginaw.....................
31-33
Saginaw.....................
25-34
Saranac......................
Three Rivers.............
18-34
Utica..........................
29-33Dyke..................
Van
Washington...............
Wolverine..................
Wyandotte................

Name of Bank in Receivership

Amble State Bank........................................
State Bank of Applegate..............................
Farmers State Bank.....................................
State Exchange Bank...................................
State Bank of Byron....................................
First State Bank...........................................
Conklin State Bank......................................
Peoples Savings Bank..................................
State Bank of Montcalm County...............
Dryden State Bank.........................•............
Peoples State Savings Bank........................
Elk Rapids State Bank................................
Union Industrial Trust and Savings Bank.
First State Bank of Gobleville....................
American Home Security Bank...................
Grand Rapids Savings Bank.......................
State Bank of Home Acres..........................
Bank of Kalamazoo......................................
First State Bank of Kingsley......................
Commercial State Savings Bank.................
Lexington State Bank..................................
Mackinac Island State Bank.......................
First State Bank...........................................
Neff State Bank............................................
First State Bank......................... ................
Millburg State Bank....................................
First State Savings Bank.............................
Nunica State Bank.............................
Farmers State Bank.....................................
First State Bank............................. '............
State Savings Bank......................................
Pittsford State Savings Bank......................
Rockwood State Bank..................................
Bank of Saginaw..................... .....................
Peoples American State Bank.....................
Saranac State Bank............................
First State Savings Bank.............................
Utica State Savings Bank............................
Garland State Bank.......... ; ........................
Washington Savings Bank...........................
Wolverine State Savings Bank....................
Peoples Wayne County Bank......................

Book Value of
Assets at Date
of Receivership

Receiver

Wilbur L. Jones..........
Harold W. Avery.......
W . H. Shoup..............
C. F. M cDivitt...........
C. F. M cDivitt...........
M. A. M um a.............
R. P. Dethmers..........
R. P. Dethmers..........
Wilbur L. Jones..........
Lloyd V. Andreae. . . .
M. A. Muma..............
J. A. Hanslovsky........
Herman G. Taylor.. . .
Charles H. S ch ü tz....
Harry Glass, Sr...........
William R. McCaslin.
F. I. C a r d .................
Charles H. S ch ü tz....
L. G. Hammond.........
H. A. Christensen. . . .
B. W. Gillman............
R. A. Carroll...............
Frank L. Thome........
H. A. Christensen. . . .
W . B. Detweiler.........
W . Worth Bean, Jr.. .
F. V. Burrows............
S. J. Linck..................
W .H . Shoup..............
C. H. Edgar................
Harold W. Avery.......
Fred O’Melay.............
Joseph J. M cGrath...
Donald Bicknell........
Donald Bicknell........
James L. Barker.. . . .
John C. Condon..........
John C. Barron..........
Melvin Van H ow e.. . .
W . H. Shoup..............
E. T. Burns................
Joseph J. McGrath. . .

Total Active as at 12-31-38.

$122,680
106,389
216,109
175,185
166,456
156,188
125,726
553,798
147,089
277,612
185,683
400,813
17,548,058
200,149
6,154,211
15,346,164
88,509
5,536,696
107,327
282,488
205,969
124,116
127,199
167,585
300,191
162,067
712,858
150,821
300,216
136,701
249,152
120,748
511,209
12,431,346
4,751,227
467,220
983,024
738,616
147,994
168,146
136,346
1,437,712

08
41
70
01
04
29
74
95
79
93
43
31
82
66
93
37
61
70
55
82
53
90
37
21
37
14
44
83
48
97
91
40
65
18
86
47
10
29
67
53
97
65

$72,427,816 06

Additional
Assets Acquired
and Cash
Income

$11,625
14,266
15,786
22,192
22,510
15,383
5,260
38,185
15,528
29,783
15,817
22,159
3,456,763
11,620
931,743
2,264,353
9,627
964,294
11,352
14,649
21,253
5,647
8,875
19,460
47,618
6,211
75,234
18,237
22,065
6,105
42,926
8,324
38,059
1,409,232
673,838
27,130
99,897
38,487
14,422
21,075
11,743
568,113

Progress of Liquidation to 12-31-38

Cash
Collections

31
$63,895 65
99
52,825 81
78
82,392 94
43
122,715 16
08
116,854 86
88
90,103 87
35
67,509 86
23
236,823 49
41
83,030 74
168,952 49
81
42
“ 96,972 02
80
151,388 83
75 . 10,669,767 64
76
100,443 37
48
3,514,389 50
62
8,107,022 01
61,242 94
71
56
3,899,438 09
65
68,081 91
83
141,955 78
82
138,588 53
25
73,105 53
99
74,885 06
27
126,304 90
21
256,526 72
58
93,945 64
473,254 66
40
63
100,119 59
33
157,870 00
39
65,197 30
34
140,248 57
58
84,325 14
35
341,473 60
62
7,523,946 25
06
3,111,451 27
44
192,695 44
655,741 72
74
72
391,880 76
104,484 65
08
31
80,704 92
63
83,037 74
21
1,459,083 62

$11,076,867 80

j Losses on
Assets

Offsets
Allowed

$43,624,678 57

$5,050
3,394
4,834
3,985

76
94
14
29

1,371
4,964
13,.727
2,587
2,610
1,310
83,884
104,304
1,166
6,109
1,993,918
154
31,957
1,565
14,214
7,645
342
8,703
1,958
1,637
80
6,656
9
3,628
4,423
6,763
300
157
112,567
143,164
7,457
5,062
3,625
86
772
949
11,956

07
23
54
20
16
73
58
99
22
40
13
66
41
06
46
26
19
01
59
15
68
28
11
61
77
97
10
23
27
52
26
74
49
52
19
85
52

$2,609,059 28

$14,812
22,674
44,051
31,785
23,913
31,028
36,666
80,103
22,323
69,993
24,765
.34,448
975,017
74,873
805,681
1,139,613
31,320
529,930
20,929
48,494
19,942
47,200
52,487
19,075
20,802
60,011
92,438
32,989
38,677
18,199
43,889
44,447
63,442
801,064
466,483
107,154
97,496
85,797
35,908
20,609
15,787
76,340

15
29
06
00
87
76
43
05
79
10
37
88
24
44
56
27
99
31
14
73
16
95
29
09
92
14
57
12
32
32
33
74
75
63
22
81
65
83
98
62
56
42

$6,322,673 85

$50,546
41,761
100,618
38,891
48,197
49,068
21,846
261,330
54,676
65,840
78,452
153,250
9,255,732
35,287
2,759,774
6,369,964
5,418
2,039,665
28,104
92,473
61,047
9,115

83
36
34
99
39
47
57
10
47
99
73
82
70
39
95
58
73
45
09
68
40
48

39,706
68,842
14,241
215,743
35,941
122,105
54,986
101,177

9(3
79
26
33
64
88
97
38

144,195
5,403,000
1,703,966
187,043
324,620
295,799
21,936
87,135
48,315
458,445

42
65
91
40
73
93
60
11
45
30

$30,948,272 16

Amount
Borrowed
by Receiver

Amount
Collected

$63,895
52,825
82,392
122,715
116,854
90,103
67,509
236,823
83,030
168,952
96,972
151,388
10,669,767
100,443
3,514,389
8,107,022
61,242
3,899,438
68,081
141,955
138,588
73,105
74,885
126,304
256,526
93,945
473,254
100,119
157,870
65,197
140,248
84,325
341,473
7,523,946
3,111,451
192,695
655,741
391,880
104,484
80,704
83,037
1,459,083

65
81
94
16
86
87
86
49
74
49
02
83
64
37
50
01
94
09
91
78
53
53
06
90
72
64
66
59
00
30
57
14
60
25
27
44
72
76
65
92
74
62

$43,624,678 57

Collected
from
Stockholders

$15,000 00
10,887,759 66
3,184,959
4,995,499
8,813
3,652,868

Liabilities Unpaid, 12-31-38

Disposition of Cash Receipts

Cash Receipts
Book Value
of Assets
at 12-31-38

44
50
37
92

3,000 00
*3 *ÓÓÓ’ ÒÓ

30,821 71

5,575,741 13
2,166,630 31

4,000 00

$30,528,094 04

$15,540
9,876
5,949
14,972
10,978
13,568
8,608
19,976
12,391
10,381
16,168
13,981

09
40
71
56
94
79
85
23
89
44
12
79

X

9,654
564,888
448,644
12,942
316,075
7,668
8,774
13,486
18,331
10,241
9,476
3,940
13,981
63,981
14,885
22,688
11,702
5,131
15,744
17,407
742,329
338,013
23,271
33,071
25,530
7,987
10,935
5,675
8,683

31
17
54
28
46
79
58
00
87
26
69
00
03
64
68
91
91
64
00
20
76
56
04
98
76
75
82
26
30

Liquidation
Expense

$12,952
15,429
30,137
26,543
21,097
16,638
14,195
43,965
18,743
42,645
21,000
42,518
2,527,414
21,748
663,529
1,284,935
17,510
383,754
15,171
22,408
23,440
9,541
17,892
14,650
48,736
11,772
95,513
21,577
30,388
18,064
29,678
19,362
40,956
933,874
387,279
21,212
72,550
48,903
18,470
20,014
14,595
107,458

90
65
21
00
16
42
38
41
94
07
10
52
70
63
70
06
42
58
68
59
84
48
67
48
32
64
84
12
73
08
72
33
15
27
16
39
54
22
42
40
57
54

Secured and Pre­
ferred Liabilities
Paid and Other
Disbursements
$14,629
5,586
627
14,911
2,017
5,693
7,310
3,811
18,533
28,131
1,155
68,672
11,949,671
4,927
4,'659,678
7,857,203
21,833
4,282,753
301
267
22,397
20,291
2,885
26,509
7,980
2,221
62,989
716
524
49,535
11,124
8,774
1,139
8,091,663
3,108,111
27,132
30,327
2,663
6,407
2,253
209
443,219

79
02
77
78
51
41
80
29
88
30
99
55
45
02
35
61
96
38
92
08
45
35
35
03
90
36
77
54
87
21
16
70
87
20
56
14
15
01
28
18
37
39

Cash on
Hand and
on Deposit
12-31-38

Dividends
Amount
$50 ,'668
35,172
56,283
85,353
94,801
75,250
45,061
197,708
56,562
98,501
86,632
59,685
6,955,182
77,507
1,931,072
4,111,652
35,223
3,142,343
51,237
126,226
103,649
56,324
64,106
92,356
203,891
82,580
377,306
91,470
146,524
33,468
99,284
63,932
302,330
4,669,952
2,084,316
148,298
565,603
349,795
81,339
66,731
64,062
900,906

Liabilities
Date of
Receivership

Balance Bills
Payable

Percentage
90
59
60
12
30
86
53
62
69
45
20
82
97
01
21
94
61
04
75
28
11
43
82
63
47
65
22
75
74
80
97
01
32
00
00
20
17
78
38
76
55
73

$2,937,541 00

$7,248,274 03

$40,876,795 70

$28,020,360 98

$13,434
12,040
5,786
12,115
9,387

$12,496
20,802
17,337
9,357
12,216
5,451
33,024
10,662
3,242
15,870
18,929
52,528
J 9,812
17,128
10,730
66,280
9,544
11,704
17,999
9,838
8,338

$11,648
42,140
128,307
2,285
1,271
3,377
205,698
20,397
8,243
4,983
2,328
974

11
80
15
17
08
50
56
86
17
83
68
93

14,339
3,213
49,886
4,345
16,099
62,306
8,452
13,319

25
40
28
59
67
54
16
75

$78,109
49,009
51,068
56,554
44,269
47,637
122,464
48,367
58,589
63,368
76,945
132,785
58,926
50,286
92,853
137,395
40,100
71,640
147,609
59,000
131,107

65
50
35
65
70
65
50
45
55
45
60
30
70
50
65
50
80
75
60
55
70
70
70.2
80
80
70
90
85
60
40-30t
50
80
70
65
80
45
65
55
70
55
65
80

$1,184
6,513
1,294
10,879
9,917
6,089
9.551
11,314
1,582
10,056
4,351
9,493
125,258
5,915
9,956
297,374
8,430
59,531
9,039
1,828
2,587
8,280
241
2,265
2,858
11,352
1,426
1,240
3,120
6,653
5,292

15
95
07
82
83
97
00
40
12
11
85
73
18
02
85
44
60
47
35
41
13
14
48
45
03
02
47
86
57
83
36

8,000 10

14,454
146,527
36,388
19,323
20,332
16,049
10,255
2,641
9,845
16,182

46
67
42
75
84
51
32
40
51
26

$944,882 90

$97, 725
85, 318
166, 127
150, 181
139, 455
126, 252
98, 420
498, 907
122 , 504
246, 033
151, 580
348, 712
12,523, 137
162, 157
4,346, 559
13,058, 600
56, 583
5,060, 057
87, 497
242, 199
181, 465
98, 479
102 , 904
144, 173
264, 887
124, 633
484, 147
108, 908
248, 727
114, 293
218, 999
90, 009
443, 490
10,217, 229
3,799, 409
363, 344
904, 959
643, 991
118, 348
126, 140
103, 696
1,184, 080

38
37
13
19
91
77
79
83
30
47
40
54
52
99
33
15
55
82
89
41
03
48
65
24
87
10
18
37
47
13
68
75
95
16
36
76
93
11
00
65
35
96

$57,854,333 92

$1,672,877 86
125,000 00
1,095,688 73
391,650 37

1,000 00

394,476 05
218,708 83

Liabilities
to Depositors
and Others
$23 ,805
41 200
103 ;574
28 720
37 ,779
42 ,300
33 ,419
280 831
45 264
116 ;816
62 675
156 ,241
3,013 730
78 Í557
1,235 785
4,166 ; 174
, 8 ,704
1,076 ,558
32 ,777
103 709
49 ,911
24 554
27 i 275
23 ,546
53 ,501
37 ,832
42 ,471
15 ,885
96 798
59 ,207
103 108
17 ,235
140 ,402
2,791 618
559 465
179 746
306 ,464
288 552
34 |491
55 ,532
38 ,778
228 ,986

97
19
38
90
26
04
68
47
43
71
94
01
65
74
83
51
31
95
24
17
35
71
47
41
16
12
83
18
61
39
43
12
61
07
30
78
34
59
16
71
94
85

$3,899,401 84

$15,863,995 51

$3,899,401 84

$15,863,995 51

Receiverships which paid final liquidating dividends and were closed:
71-24-34
346- 6-34
5- 8-34
1-22-34
611- 7-33
9- 5-34
4- 3-34
8- 3-33
7-23-34
51- 8-35
124-23-34
4-26-34
7- 10-34
4-23-34
3-28-34

12-33
Bannister...................
East Grand Rapids..
30-34
Essexville..................
25-34
Fenwick...............
.
Fife Lake................
Garden City..............
Grand Rapids...........
12-34
Lincoln......................
Linden.......................
Mackinaw C ity........
Marysville.................
Melvindale................
Mesick....... ...............
11-34
Montgomery.............
Pewamo.....................
1Q-34
Pontiac......................
Six Lakes..................
Tawas City...............
Ubly..........................
Vestaburg..................
Woodland..................

State Savings Bank.............................
East Grand Rapids State Bank.........
State Savings Bank................. ..........
Fenwick State Bank...........................
Citizens State Bank............................
Garden City State Bank....................
Galewood-Wyoming State Bank.......
Lincoln State Bank................... .........
Linden State^ Bank.............................
Mackinaw City State Savings Bank.
Marysville Savings Bank...................
Melvindale State Bank......... ............
Farmers and Merchants State Bank.
Montgomery State Bank....................
State Savings Bank.............................
Pontiac Trust Company.....................
State Bank of Six Lakes.....................
Iosco County State B an k.................
Citizens State Bank............................
State Bank of Vestaburg..............
Woodland State Bank........................

Closed 8- 29-38.
Closed 12-31-38.
Closed 11- 3-38.
Closed 4-23-38.
Closed 11Closed 12-31-37.
Closed 12-31-38.
Closed 11-28-38.
Closed 4- 1-38.
Closed 11Closed 7-14-38.
Closed 10-14-38.
Closed 10Closed 12Closed 4- 7-38.
Closed 11Closed 12Closed 9Closed 11-15-38.
Closed 10-19-38.
Closed 12-

30-38.

29-38.
31-38.
31-38.
23-38.
13-38.
26-38.
21-37.

Total closed to 12-31-38.

Grand Totals.

♦Released t® Trustees for stockholders at closing,
flncludes dividends paid to stockholders.
JFirst percentage indicates Savings, second indicates General.
xCollections from Stockholders Assessments of $918,755.00 included in amount collected of $10,669,767.64.

$130,317
122,793
184|852
71,062
78^634
80,249
236,327
115,173
94,575
101,455
133,145
672,277
93,595
109,275
132,877
428,398
75,345
107,591
233,591
77,273
207,865

26
57
58
06
91
70
19
30
05
52
88
82
84
63
54
23
02
97
15
64
22

$9,150
8,209
17i865
6,331
3,292

2,941
29,975
7,914
3,160
10,228
13,973
34,436
7,343
11,550
7,597
142,236
10,632
6,225
18,962
15,790
8,491

77
96
49
81
40
79
42
15
08
16
28
28
74
98
90
32
34
53
94
77
75

$88,818
63,450
132j927
56,082
47i569
56,568
204,284
75,408
68,950
69,540
98,515
157,326
68,336
71,351
93,091
276,067
39,953
78,901
172,892
65,374
135,476

96
77
16
71
56
33
12
73
40
34
00
51
09
54
23
06
51
18
28
96
12

$11 68
4,628 18
432
330
876
1,692
453
1,905
5,700
489,312
580
637
5,151
47,623
808
168
2,218
168
15

18
17
81
80
01
60
77
40
65
37
30
20
87
08
05
40
52

$50,637
67,552
65,162
21,311
33,925
18,985
61,141
45,985
1 21,618
40,237
4,412
60,075
11,916
48,837
42,232
102,472
45,214
26,394
77,443
27,521
80,865

39
76
73
16
57
97
68
92
70
7464
19
05
70
91
84
98
23
76
05
33

$88,818 96
132,927 16
$7,307 02*
6,713 02*
38,490 75*
20,106 79*
144,471 45*
8,354 ÓÍ*

47,569
56,568
204,284
75,408
68,950
69,540
98,515
157,326
68,336
71,351
93,091
276,067
39,953
78,901
172,892
65,374
135,476

56
33
12
73
40
34
00
51
09
54
23
06
51
18
28
96
12

$36,461 24
58,000 00
800 00
*Í48¡342*Í6‘
Ü Ì25ÒÓ
23,795 88

’ ‘ iiá ó ó ’ óó'
5,000 00
3,300 00
44,023 39

82
56
50
03
30

8,561 46
4,019 80
14,682 73
5,166
3,588
6,202
13,706
32,978
14,036
18,809

67
14
19
15
08
76
86

11,000 00

11,916 31
17,289 94

30
45
80
62
24
35
94
86
79
83
54
22
41
08
79
64
26
53
98
73
91

37
32
71
95f
54
60
24
81
44
41
14f
91
12f
40
19
01
42
90
15
38f
40

82.10
79.91-51.10Î
58.80
109.4
85.68
102.96
84.695
65.80
107. 1-108.4 %
93.20
104.86
100
105.89-114.4 Î
70.80
98.85
100
76.80
112- 115. 36 X
76.95-74.72Í
112.5-115.4 j
95.98

$101 88*|

¡311 64*,
*3!Í85*7Ó’
60,483 21*
&565 94*

$107, 162
92, 507
160, 240
50, 828
• 52, 636
48, 698
195, 503
92, 727
65, 376
74, 915
67, 436
521, 406
65, 894
81, 639
100, 942
90, 670
57, 111
79, 658
220, 810
56, 145
150, 455

51
83
51
36
72
00
93
29
98
87
76
74
35
96
17
04
94
02
14
45
14

$3,486,679 08

$376,311 86

$2,120,886 56

$562,715 04

$953,946 30

$225,443 04

$2,120,886 56

$325,047 67

$214,722 30

$373,299 27

$603,619 48

$1,618,089 41

$65,648 37

$2,432,768 71

$75,914,495 14

$11,453,179 66

$45,745,565 13

$3,171,774 32

$7,276,620 15

$31,173,715 20

$45,745,565 13

$30,853,141 71

$3,152,263 30

$7,621,573 30

$41,480,415 18

$29,638,450 39

$1,010,531 27

$60,287,102 63


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

TABLE N o # 30— Court Receiverships# Receivers appointed under the provisions o f A ct 66, P. A . 1929, as amended# Report o f Com missioner o f Banking indicating results of liquidation o f court receiverships to December 31,1933.
Date of
Receiver­
ship

Location

2- 6-32 A lbion .............
12-14-31 Arcadia............
1- 16-33 Bad Axe...........
9- 9-31 Baroda.............
11- 5-31 Beaverton.. . . .
923-31
Belding............
12- 3-31 Benton Harbor.
720-31
Birmingham....
2- 2-31 Bridgman........
315-32
Butternut........
1127-31
Cadillac............
3- 6-31 Casnovia.........
1216-32 Line... .
Center
8- 5-32 Clawson...........
11- 5-31 Climax.. . . . . . .
213-33
Columbiaville..
4- 6-32 Comstock Park
10- 7-31 Detroit........... ..
7-24-31 Detroit.............
716-31
Detroit.............
1229-32
Detroit.............
815-30
Detroit.............
1-11-32 Dimondale . . . .
4- 5-32 East Detroit.. .
1130-31Lansing..
East
1-11-32 Eaton Rapids..
7- 8-32 Edmore............
8E 10-33
rie .................
720-31
Farmington..
..
8- 2-32 Farmington....
327-31
Ferndale..........
425-31
Ferndale.
.....
1- 7-33 Freeport. . . . . .
4-19-32 Harrisville........
1024-31
8-15-32 Imlay C ity. .
815-32C ity ..
Imlay
912-32
Jamestown..
1222-25 . . . . .
Jeddo..
9-16-32 Kawkawlin. .
12- 5-35 Lennon.........
4- 3-31 Lochmoor. . .
11- 9-31 Lyons...........
2- 7-33 Marlette. . . .
1214-31 ^........
Marne.
12-17-32 Memphis.. . .
4- 9-32 Merrill..........
1- 13-32 Middleton. . .
9-26-30 M io..............
12-16-32 Mt. Clemens.
210-33
Mt.
Morris. .
8- 8-31 Nashville.. . .
11-16-32 Negaunee. . .
2- 8-32 New Buffalo.
7-25-32 Onaway........
2P e25-33
lls to n ..........
317-31 . . . .
Pontiac.
7-28-31 Pontiac........
9- 1-32 Powers.........
11-25-32 Republic. . . .
9-26-32 Rose C ity. . .
2- 2-33 Roseville. . . .
626-31O ak...
Royal
7- 1-32 St. Louis. . . .
11-28-31 Sand Lake...
10-17-31 Scottville.. . .
3- 15-32 Sheridan. . . .
6-24-32 Sherwood. . . .
9-25-31 Stevensville..
10- 3-32 Suttons Bay..............
4- 7-38 Trout Creek..............
5- 2-32 Union C ity................
7- 2-32 Vassar........................
10-13-33 Vassar........................
10- 1-31 Vicksburg..................
11-20-31 Wayne.......................
7- 7-31 Wayne.......................

Name of Bank in Receivership

Albion State Bank................................
Arcadia State Savings Bank................
State Savings Bank...............................
Baroda State Bank...............................
State Bank of Beaverton......................
Belding Savings Bank...........................
Berrien County Bank...........................
First State Savings Bank....................
Bridgman State Bank...........................
Peoples State Bank...............................
Peoples Savings Bank............................
Farmers and Merchants State Bank...
Center Line State Savings Bank.........
Clawson State Savings Bank...............
Climax State Bank...............................
Columbiaville State Bank....................
Comstock Park State Bank.................
Fidelity Bank and Trust C o........ .
Guaranty Trust Co.........................
Metropolitan Trust Co......................
Northwestern State Bank....................
Standard Trust Co................................
Di mondale State Bank.........................
Stephens State Bank.............................
Michigan State Bank............................
Michigan State Bank...........................
Edmore State Bank..............................
Erie State Bank.................................. ..
Farmington State Savings Bank..........
Peoples State Bank...............................
American State Bank..........................
Ferndale State Bank................. ...........
State Bank of Freeport........................
Alcona County Savings Bank..............
Peoples State Bank...............................
Lapeer County Bank............................
Peoples State Bank...........................
Jamestown State Bank............... .
Jeddo State Bank........ .........................
Farmers State Bank..............................
Lennon State Bank...............................
Lochmoor State Bank...........................
Lyons State Bank.................................
Commercial State Bank.......................
Berlin State Bank.................................
Memphis State Bank............................
State Bank of Merrill...................
Peoples State Bank...............................
Union State Bank.................................
Citizens Savings Bank..........................
Mount Morris State Bank...................
Nashville State Bank...........................
Negaunee State Bank...........................
New Buffalo State Bank......................
Onaway State Savings Bank................
Peoples State Savings Bank. . .............
Peoples State Trust and Savings Bank
Pontiac Commercial and Savings Bank
First State Bank........ ..........................
Republic State Bank.............................
Rose City State Bank..........................
Roseville State Savings Bank..............
State Savings Bank...............................
Gratiot County State Bank.................
Exchange State Bank...........................
Peoples State Bank...............................
Peoples State Bank...............................
State Savings Bank...............................
Stevensville State Bank........................
Leelanau County Savings Bank..........
Trout Creek State Bank.......................
Union City State Bank.........................
Michigan Savings Bank.......................
State Savings Bank...............................
Farmers State Bank.............................
Peoples State Bank...............................
Wayne Savings Bank............................

Receiver

Willard R. Noyes.............
L. D. Rose........................................
Gordon Walker.................................
W. Worth Bean, Jr................ ...........
Ira Early............................................
Clair R. Carr.....................................
W. Worth Bean; Jr............................
C. Henry Purdy................................
W . Worth Bean, Jr............................
W . E. Walden...................................
Leo R. Barnes...................................
Muskegon Trust Co..........................
Melvin F. Van Howe........................
Harry W . Gross................... .............
Herman E. Rapp...............................
Charles R. Bowles.............................
F. I. Card..........................................
Fred L. D ay....................... ...............
Detroit Trust Co...............................
Scott E. Lamb & Charles A. Smith.
Newell B. Wallace.............................
James E. Atkinson............................
Harry O. Mohrmann........................
Melvin Van Howe.............................
Clayton F. Jennings..........................
Harry O. Mohrmann......................
H. A. Christensen.............................
A. E. Shinevar...................................
W. B. Detweiler.......................
W. B. Detweiler................................
George H. Van Buren.......................
George H. Van Buren.......................
Harry O. Mohrmann.........................
George R. Emerick...........................
A. E. Shinevar...................................
Ronald D. Rhead..............................
Ronald D. Rhead..............................
Henry Winter....................................
George C. Watson.............................
William A. Markey...........................
John C. Van Cam p...........................
James E. Atkinson............................
F. B. Post..........................................
Gordon Walker .'...............................
C. Leo Van Frank.............................
B. A. Kalahar....................................
Elzie S. Beaver..................................
Frank L. Thome................................
Henry H. Stickfort............................
B. A. Kalahar....................................
Walter R. Beerman...........................
Harry O. Mohrmann.........................
G. Sherman Collins...........................
W. Worth Bean, Jr..................... .....
E. T. Burns........................................
James D. Robinson...........................
Ralph B. Lee.....................................
Hugh A McPherson......................
Howard E. Nadeau.....................
Peter Handberg.................................
H. A. Chamberlain...........................
Joseph E. Riesterer...........................
Harry W . Gross; ...............................
James P. Gibbs.................................
Donovan J. Rau................................
L. G. Hammond................................
W . E. Walden....................................
Arthur J. Skeen................................
W . Worth Bean, Jr...........................
J. A. Hanslovsky...............................
Federal Deposit Insurance Corp’n . .
Frank Coward..................................
Ronald D. Rhead..............................
Ronald D. Rhead..............................
Karl Gibson.......................................
Russell B. Rheader...........................
Wm B. Detweiler..............................

Total Active as at 12-31-38.

Book Value of
Assets at Date
of Receivership

$609,219
93,377
565,918
122,583
165,389
1,321,646
901,268
2,696,140
516,214
131,604
1,077,714
183,119
728,534
207,372
134,322
205,326
308,674
8,783,866
2,115,110
2,623,591
1,176,898
1,307,860
149,073
395,988
175,356
506,579
301,129
218,153
819,470
580,943
1,760,296
607,121
268,719
377,253
241,885
875,125
533,428
324,660
42,004
143,283
78,715
387,838
167,865
642,152
162,522
208,200
407,636
209,130
161,822
4,736,454
164,207
909,186
529,637
232,739
316,127
119,213
2,720,631
15,592,720
258,843
149,979
166,583
503,963
7,414,666
264,782
143,186
425,048
149,885
97,369
343,580
438,638
46,141
150,380
347,049
649,151
641,080
1,137,583
1,785,596

73
23
73
22
02
56
92
56
59
08
20
22
87
53
39
79
66
80
52
48
25
31
95
13
72
34
56
76
69
91
23
31
53
41
89
65
69
40
52
74
20
10
44
03
43
37
66
77
40
20
35
29
83
87
20
23
89
51
61
87
11
54
19
03
85
09
33
52
47
50
46
92
02
14
02
01
68

$77,156,541 22

Additional
Assets Acquired
and Cash
Income

$92,626
5,082
43,624
12,184
18,945
137,632
206,408
381,560
84,359
22,200
202,731
11,120
87,555
13,117
21,148
24,945
32,480
854,638
185,979
605,456
260,285
199,053
21,947
59,358
25,128
44,953
29,988
30,900
81,317
28,721
313,586
90,931
21,465
50,944
33,835
106,173
66,509
29,843
12,793
18,725
6,436
38,728
33,970
44,836
21,068
19,625
46,187
24,814
15,871
407,929
38,436
93,967
109,649
28,593
44,608
11,202
471,046
2,603,894
22,712
18,148
18,088
35,078
895,838
52,169
15,775
37,478
26,739
5,416
26,940
47,797
3,380
12,567
32,117
230,476
319,828
101,225
200,341

89
85
46
12
94
17
06
12
07
31
76
86
70
80
52
21
69
59
89
15
78
20
03
16
76
13
44
80
57
35
23
25
29
54
12
28
74
64
20
70
78
99
21
17
24
85
69
87
13
59
81
05
22
31
93
68
51
27
37
36
69
54
62
08
36
26
25
64
10
73
96
24
75
30
86
62
58

Progress of Liquidation to 12-31-38

Cash
Collections

$369,130
54,943
350,561
71,250
114,636
657,644
590,019
1,356,660
306,425
94,039
727,617
117,041
411,494
83,573
101,411
102,328
170,672
3,641,897
1,681,546
1,231,765
888,422
543,128
126,761
178,285
78,799
265,981
169,569
183,988
378,807
242,183
622,975
273,019
149,060
186,330
202,428
776,635
303,568
151,350
34,974
90,734
48,621
256,610
112,279
322,009
85,504
118,152
224,197
13o,6l6
69,852
2,037,862
107,925
576,759
417,615
134,404
189,729
59,219
’ 935,454
8,532,782
159,940
57,860
101,872
214,118
2,604,282
171,027
86,192
312,272
90,554
44,626
185,909
231,923
7,201
71,611
102,843
513,820
679,543
629,820
830,937

Offsets
Allowed

58
27
78
22
57
23
00
39
60
95
32
00
33
57
05
63
09
59
49
69
74
37
79
67
99
59
79
28
01
11
38
50
88
95
89
94
90
75
07
85
76
08
32
52
19
07
14
33
04
76
34
80
63
53
74
00
44
16
18
30
38
16
25
66
05
67
95
07
14
06
96
68
25
23
41
68
34

Cash Receipts
Book Value
of Assets
at 12-31-38

Losses on
Assets

$25,182
26,498
26,208
7,717
3,062
122,970
48,185
322,139
48,574
5,785
121,556
5,785
43,578
28,508
3,445
16,281
8,899
1,060,632
205,588
410,300
32,095
626,840
2,800
36,668
54,739
27,506
11,000
19,223
108,690
33,545
705,586
216,194
13,437
32,539
16,262
11,219
7,570
17,388
3,861
5,720
10,485
13,592
34,682
52,901
14,321
23,369
55,363
12,355
13,021
84,569
5,105
36,979
31,894
4,997
4,381
2,701
534,069
2.147,598
11,831
1,615
9,606
51,373
679,356

47
66
25
22
96
75
83
66
99
49
13
41
95
12
33
80
47
45
28
00
53
60
34
28
48
51
02
32
58
07
80
08
53
84
20
47
35
40
49
53
37
16
37
09
30
79
06
15
56
58
61
87
89
90
92
01
38
45
76
82
30
96
61

7,784
28,974
16,541
1,021
35,500
8,839
2,830
19,404
75,692
27,975
34,329
111,970
128,349

58
30
31
46
80
73
42
25
16
64
86
90
69

*77,401
j 2,387
442,469
38,766
19,430
¿24,266
51,516
468,287
57,753
¡23,122
154,504
|45,080
139,448
77,174
50,614
30,739
114,309
2,296,347
331,553
1,278,950
180,977
169,963
12,282
55,080
51,569
136,263
57,544
23,218
134,249
167,136
471,615
139,489
45,877
90,733
13,930
101,177
89,231
51,922

52
76
73
63
79
111
411
06
31
20
75
00
88
26
53
69
28
28
35
81
84
85
07
59
99
04
46
41
06
19
96
31
49
62
16
07
25
43

55,778
7,055
67,315
12,108
218,237
10,195
30,598
86,256
73,126
10,373
780,110
27,741
164,981
78,710
66,277
40,728
22,645
307,701
1,456,566
18,927
18,234
27,101
62,193
1,632,491
29,539
53,613
121,279
45,339
18,437
72,608
102,539

35
20
70
87
89
83
55
79
72
74
05
89
09
85
22
38
67
40
23
65
14
15
46
73
47
29
38
00
33
86
96

44,440
64,745
56,727
123,052
157,954
324,587

0Ó
98
04
55
98
79

$10,733,250 98

$39,543,621 07

$8,859,182 65

$14,006,711 32

$32,905
82,922
39,479
105,659
8,726
9,139
121,873
8,398
24,461
43,890
365,964
18,254
10,409

$322,601
304,262
171,134
597,705
52,342
115,639
859,619
100,879
122,700
431,916
1,323,059
178,991
37,052

$43,786
36,337
8,916
29,688
3,255
21,822
74,237
10,687
19,260
25.938
489,062
12,530
5,390

$246,743
166,800
89,292
586,816
51,829
99,829
472,260
40,249
120,741
460,092
914,298
131,168
84,556

$230,132
14,630
90,303
17,033
47,204
454,397
417,955
930,613
187,819
30,856
276,767
26,333
321,568
31,234

05
39
43
27
64
64
74
57
76
75
76
67
41
38

80,921
47,274
2,639,628
82,402
308,031
335,687
166,980
29,176
185,311
15,376
121,781
93,003
22,624
279,Q41
166,800
273,704
69,349
81,808
118,593
43,099
92,266
199,567
133,842
15,962
9,775
18,989
89,049
42,765
93,839
73,569
55,705
88,007
11,847
84,446
2,241,841
61,871
224,432
111,065
55,653
125,896
45,850
1,414,453
6,059,667
90,856
90,417
46,091
211,356
3,394,374
116,383
11,372

88
51
07
29
13
92
69
78
75
02
33
73
55
61
89
32
67
92
54
76
45
93
46
16
71
65
15
09
70
35
81
36
44
19
40
32
58
68
53
09
23
18
94
39
97
97
50
22
98
29

24,189
38,701
# 76,501
143,133
39,490
27,492
135,885
281,104
123,983
339,062
702,063

32
30
77
48
04
23
38
53
06
07
44

$23,480,277 16

Amount
Collected

$369,130
54,943
350,561
71,250
114,636
657,644
590,019
1,356,660
306,425
94,039
727,617
117,041
411,494
83,573
101,411
102,328
170,672
3,641,897
1,681,546
1,231,765
888,422
543,128
126,761
178,285
78,799
265,981
169,569
183,988
378,807
242,183
622,975
273,019
149,060
186,330
202,428
776,635
303,568
151,350
34,974
90,734
48,621
256,610
112,279
322,009
85,504
118,152
224,197
130,616
69,852
2,037,862
107,925
576,759
417,615
134,404
189,729
59,219
935,454
8,532,782
159,940
57,860
101,872
214,118
2,604,282
171,027
86,192
312,272
90j554
44,626
185,909
231,923
7,201
71,611
102,843
513,820
679,543
629,820
830,937

Amount
Borrowed
by Receiver
58
27
78
22
57
23
00
39
60
95
32
00
33
57
05
63
09
59
49
69
74
37
79
67
99
59
79
28
0111
38
50
88
95
89
94
90
75
07
85
76
08
32
52
19
07
14
33
04
76
34
80
63
53
74
00
44
16
18
30
38
16
25
66
05
67
95
07
14
06
96
68
25
23
41
68
34

$39,543,621 07

$122,402 31

245,000 00
10,000 00
3,ÓÓÒ ÓÒ
3,ÓÓÓ ÓÓ

23.ÒÒÒ ÓÓ
24,243 46
1,000 00
190,198 72
17,500 00

12,000 00

92,577 28

4,000 00
596,157 13
146,020 33

2,477,084 77
35,643 29
2,500 00
986,668 60

102,000 00
221,586 50

$5,315,582 39

Disposition of Cash Receipts

Collected
from
Stockholders
$23,614
6,120
13,784
17,047
2,450
84,619
28,138
86,091
8,950
11,218
41,499
14,412
23,176
10,751
15,373
8,654
5,739
440,133
336,542
433,880
22,953
7,932
13,590
8,561
22,707
54,490
20,866

54
70
54
29
00
90
63
90
00
99
67
73
65
22
95
92
75
85
67
06
31
50
87
05
45
09
72

24,253
29,361
43,615
29,733
12,900
11,181

84
10
53
00
00
63

2,013
24,540
18,384
9,929
171300
7,357
23,955
5,000
21,650
11,384
3,196
6,5o7
7,682
2,090
80,602

59
84
48
65
00
43
03
00
00
49
22
67
18
90
38

59,462
34,707
17,965
10,727
11,933
97,091
479,676
13,277
19,107
3,759
9,975
226,813
14,052
6,414
22,064
10,900
19,000
16,257
9,627

43
15
06
89
03
05
81
67
97
42
39
44
09
98
78
63
00
30
52

10,534
20,759
40,891
20,242
14,760
22,359

48
96
70
12
00
12

$3,368,365 90

Liquidation
Expense

$166,978
9 920
47,449
15,870
26,459
122,819
95,897
281,965
56,766
29,666
121,808
26,701
119,740
18,881
21,492
29,339
30,401
475,712
214,567
215,121
245,477
206,193
19,597
68,857
21,684
37 ,033
44 ,858
34 ,643
104 ,461
66 ,155
189,810
77,820
37 ,522
38,232
38,441
95;423
63,850
30,670
9,066
13;737
8,401
67 419
24,537
46,967
22,728
40 486
35,415
38,301
15,596
321Í390
35,086
109,452
43,561
28,360
29,592
11 597
404,495
2,342,819
.27,385
10,683
21,139
74,866
480,194
37,716
18,697

88
97
92
11
84
28
54
61
64
12
13
01
86
01
64
45
56
53
36
17
09
59
44
52
04
57
56
13
90
25
64
22
35
00
37
15
88
43
28
28
11
44
75
54
62
78
46
38
76
26
71
58
76
44
92
81
52
86
80
71
30
71
65
26
98

33,914
7,344
29,233
33,902
2,080
13;822
38,684
32 812
91,167
96,606
151,215

17
45
29
74
64
09
15
75
69
11
85

Secured and Preferred Liabilities
Paid and Other
Disbursements

Cash on
Hand and
on Deposit
12-31-38

Dividends Paid
Amount

Liabilities at
Date of
Receivership

Balance Bills
Payable

Percentage

$20,476
13,947
211,064
28,943
52,044
102,874
378,208
427,399
51,479
13,741
107,657
13,304
78,745
37,854
13,564
15,595
43,524
939,192
1,280,542

44
07
85
85
19
69
43
72
87
50
77
39
29
94
48
23
55
47
97

$198,543
36,184
210,585
37,051
34,377
485,624
378,914
738,080
198,894
56,729
534,312
80,806
231,117
28,207
68,167
56,875
91,747
2,535,780
445,500
1,388,868
513,327
131,600
107,325
49,223
51,281
230,693
106,212

05
90
43
57
35
29
00
54
48
88
80
49
54
42
83
71
13
29
69
61
94
39
24
90
91
44
60

50
70
50
50
75-25*
50
60
45
50
65
70
60
47.5
25
70
40
40
60-55t
35
100
55
80
100
22.5
60
70
50

174,111
206,036
4,325
90,667
24,832
48,731
39,435
9,360
182,743
36,973
233,357
44,478
10,274
11,729
16,472
63,499
33,845
75,731

57
20
40
51
87
27
66
57
62
34
15
42
10
10
78
18
37
11

286,203
156,048
260,370
178,218
109,766
137,112

87
47
31
73
51
87

45
35
21
57.5
53.5
48

13,429
82
1,066
37,362
172,399
5,016
16,549
63,332
18,026
12,827
1,8551826

22
55
13
70
42
29
52
95
16
15
38

77,005
41,001
201,533
53,249
183,463
65,130
61,325
114,705
84,206

27,337
220,046
46,313
26,077
83
162,179
3,596,844
30,746
39,923
21,125
53,739
1,675,680
39,792
9,480

76
63
76
39
98
50
61
61
35
21
66
09
17
23

450,393
334,247
72,575
139,999
53,795
429,623
5,363,153
107,069
60,305
59,153
91,243
1,594,084
105,430
49,377

82
03
63
31
20
37
85
51
08
48
42
33
22
42

60
75
50
60
60
30
50
58
55
55
20
32
55
50

20,486
2,580
27,553
66,366
101
5,569
10,434
186,480
314,968
366,153
355,866

94
61
30
34
26
69
67
81
38
93
18

45,104
51,532
140,788
137,358

97
11
23
63

55
81
60
35

53,415
68,797
334,116
284,675
280,927
552,947

30
08
73
79
33
65

55
35
60
60
45
40

610,448 25
228,404 70
69,728 99
90
50
51
78
52
27
08
69
65

529,849 04

$8,434,460 12

$14,697,858 71

$23,962,529 97

$29 083 60
30 990 12

$241,561 59
111,951 20

$115,125 40
221,359 08

348i630 11

494,637 42

85
55
30
75
65
90-40*
65
40
55
40
60
55
65-15*
20

$6,746
1,011
17,648
6,431
4,205
30,945
10,137
5,306
8,234
5,121
8,338
10,641
8,067
9,381
13,560
9,173
10,738
131,346
77,478
61,655
1,459
7,230
9,104
2,341
3,708
4,013
929
2,464
19,850
12,367
55Í2
2,235
4,39¡7
10,438
553
9,278
2,008
5,604
4,487
3,862
6,494
10,546
2,129
33,406
4,013
2,986
17,310
7,764
13,630
7,556
7,706
49,038
487
5,119
4,788
5,675
36,247
186,725
8,015
1,699
4,213
6,743
67,805
2,141
15,051
21,663
1,949
2,168
4,591
3,922
5,020
9,339
5,687
1,301
8,973
2,893
14,853

Liabilities Unpaid, 12-31-38

75
03
43
98
19
87
66
42
61
44
29
84
29
42
05
16
60
15
14
97
45
69
58
25
62
40
69
93
18
15
81
13
92
61
62
95
79
70
15
45
03
03
09
32
50
91
71
32
54
59
16
07
69
76
01
04
10
42
93
42
81
76
22
10
40
03
50
90
62
87
06
08
31
64
67
31
28

$1,132,7'20 56

$533,297
68,044
532,415
102,617
142,314
1,121,804
784,702
2,385,508
473,534
107,146
914,590
163,764
597,707
178,296
108,035
172,262
278,885
6,470,819
1,437,349
1,388,868
i;i2 i;8 0 4
985,625
113,670
331,836
150,318
403,869
262,783
195,462
760,994
516,535
1,624,393
479,924
230,693
309,016
200,727
795,325
456,800
285,686
66,976
122,903
73,268
354,393
146,587
597,111
133,964
173,886
347,378
183,260
136,120
3,906,252
138,784
815,455
545,596
197,197
267,631
93,083
2,143,832
14,186,725
215,826
119,029
137,664
450,129
6,529,636
232,052
1131149
364,140
122,645
66,157
294,204
448,594
21,848
127,563
309,350
591,029
579,049
1,055,710
1,668,335

64
67
52
33
29
96
57
51
13
44
21
08
03
12
50
93
84
21
39
61
83
45
43
53
89
00
34
93
77
30
52
56
41
64
52
79
07
08
78
29
95
63
64
38
53
79
52
24
24
61
27
80
10
00
65
41
63
12
38
04
54
51
30
69
89
16
26
76
21
98
75
06
14
07
13
89
26

$65,263,961 64

$10,000 00

6,000 00
15,125 13

57,189 43

154,928 69
2,811 82
4,500 00

26,103 94
135,741 58
10,000 ÓÓ
2,500 00
159,479 18

7,200 00

Liabilities
to Depositors
and Others
$222,122
17,912
208,141
23,749
58,479
458,874
253,048
843,548
184,728
30,349
229,919
62,511
253,653
85,777
29,198
85,642
138,376
1,823,569
621,202

65
70
00
18
87
12
69
40
39
36
83
31
94
47
75
87
83
81
94

416,859
62,048
144
167,679
27,891
99,876
111,529
23,223
326,023
268,031
526,242
58,696
95,263
77,642
23,709
109,480
187,785
150,904
31,765
26,111
22,098
140,054
28,592
271,553
50,666
83,256
61,710
69,583
82,440
2,069,186
66,066
300,757
116,580
75,007
96,415
36,483
895,320
5,116,453
69,521
45,694
48,749
256,408
3,313,115

95
79
03
39
12
23
12
88
12
81
01
00
14
93
44
85
16
00
00
31
86
70
24
12
38
31
58
76
71
39
49
70
28
49
17
16
90
47
52
59
18
85
28

47,789
90,789
36,349
11,996
90,742
197,081
19,280
52,029
130,253
227,294
191,580
346,338
831,846

94
39
03
41
67
20
12
80
99
29
40
18
75

$591,579 77

$24,010,804 69

$591,579 77

$24,010,804 69

Receiverships which paid final liquidating dividends during 1 938:
Bessemer...
Buchanan..
Carson City,
Clare. . . . . .
Copemish..
D aggett....
Hamtramck.
Hartford. . .
Hazel Park.
Jackson.. . .
Muskegon..
Sunfield.. . .
T rufant.. . .

Peoples State Bank.............................
Buchanan State Bank.........................
Farmers and Merchants State Bank..
Clare County Savings Bank...............
Copemish State Bank.........................
Daggett State Bank............................
State Bank of America.......................
First State Bank.................................
Hazel Park State Bank.......................
Farmers & Workingmen’s Savings B’k
Peoples State Bank for Savings.........
Sunfield State Savings Bank...............
Trufant State Bank............................

Totals

Grand Totals
♦First percentage indicates Savings, second General.
fFirst percentage indicates Trust Department, second Banking.

$580,225
424,478
229,863
1,108,551
98,701
228,152
1,284,243
143,416
238,240
874,056
2,360,457
304,435
116,589

46
64
85
15
36
12
75
86
94
81
08
27
89

84
25
56
14
82
20
49
75
34
87
17
78
41

10
40
93
26
86
78
33
23
92
42
99
01
16

57
57
29
73
47
07
83
36
34
89
29
32
62

63
92
19
30
85
471
081
02
02
37
97
72
52

$7,991,415 18

$872,085 62

$4,617,905 39

$780,914 35

$3,464,679 06

$85,147,954 40

$11,605,336 60

$44,161,526 46

$9,640,097 00

$17,471,390 38

$322,601
304,262
171,134
597j 705
52\342
115^639
859i619
100,879
122i 700
431^916
1,323;059
178,991
37i052

$25,480,277 16

10
40
93
26
86
78
33
23
92
42
99
01
16

$37,024 32
32,500 00

155,000 00

438,107 05

$26,145
27,538
11,500
32;549
12;509
17,520
9,104
10,971
8,680
74;445
135,338
20,862
13,158

17
00
00
78
00
56
73
77
75
00
76
42
81

285 125 65
17
15 086 32

7251405 62

885,974 53

P 81.5

10i899 20

24!225 45

34Í4

61-0*
75

$490,935
375,082
207,136
1,040,782
76,785
186,396
1,103,010
111,429
216,664
778,399
1,880,603
263|199
89;089

56
180 456 53

52’

36 706 01

$4,617,905 39

$662,631 37

$400,324 75

$799 130 71

‘ $1,739,510 47

$3,142,220 33

$44,161,526 46

$5,978,213 76

$3,768,690 65

$9,233 590 83

$16,437,369 18

$27,104,750 30

38
83
10
82
73
73
42
15
30
00
35
09
44

$6,819,514 34

$1,132,720 56

$72,083,475 98


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

TABLE No. 31— Condensed abstract of 63 closed, 2 re-organized, and 119 active receiverships from the date of organization of
the Department in 1889 to the close of business, December 31, 1938.

42 Closed
C ou rt
R eceiverships

A d d ition a l assets acquired, in clu d in g in c o m e ...

$ 8 1 6 ,1 8 0 19
5 3 ,315 23

$ 9 8 7 ,5 0 4 71
6 3 ,3 0 1 96

$ 2 0 ,5 4 7 ,4 0 8 94
3 ,0 9 8 ,5 9 3 24

$86 9,49 5 42

$ 1 ,0 5 0 ,8 0 6 67

77 A c tiv e
R eceiverships
u nd er the
Jurisdiction
o f th e C ou rts

42 A c tiv e
R eceiverships
und er the
Ju risdiction of
this D e p a rtm en t

$ 3 ,4 8 6 ,6 7 9 08
376 ,311 86

$ 7 7 ,1 5 6 ,5 4 1 22
1 0 ,7 3 3 ,2 5 0 98

$ 7 2 ,4 2 7 ,8 1 6 06
1 1 ,0 7 6 ,8 6 7 80

$ 1 7 5 ,4 2 2 ,1 3 0 20
2 5 ,4 0 1 ,6 4 1 07

$ 2 3 ,6 4 6 ,0 0 2 18

$ 3 ,8 6 2 ,9 9 0 94

$ 8 7 ,8 8 9 ,7 9 2 20

$ 8 3 ,5 0 4 ,6 8 3 86

$ 2 0 0 ,8 2 3 ,7 7 1 27

$ 1 2 ,3 8 9 ,1 9 7
1 ,4 3 5 ,0 4 3
9 ,1 8 1 ,6 9 6
6 4 0 ,0 6 4

$ 2 ,1 2 0 ,8 8 6
562 ,7 1 5
9 5 3 ,9 4 6
225 ,4 4 3

56
04
30
04

$ 3 9 ,5 4 3 ,6 2 1 07
8 ,8 5 9 ,1 8 2 65
1 4 ,0 0 6 ,7 1 1 32

$ 4 3 ,6 2 4 ,6 7 8 57
2 ,6 0 9 ,0 5 9 28
6 ,3 2 2 ,6 7 3 85

21 C losed
D epartm en t
Receiverships

T ota ls

D isp osition o f A ssets:
$268,961
19,305
4 0 ,4 4 4
O th er disposition o f a sse ts.................................... 5 4 0 ,7 8 4
B o o k value o f assets at 1 2 -3 1 -3 8 .......................

19
31
23
69

$5 0 3 ,2 4 5
9 ,7 7 0
17,5 0 7
5 2 0 ,2 8 2

50
91
92
34

06
84
30
98

$ 9 8 ,4 5 0 ,5 8 9
1 3 ,4 9 5 ,0 7 7
3 0 ,5 2 2 ,9 7 9
1 ,9 2 6 ,5 7 5
5 6 ,4 2 8 ,5 4 9

95
03
92
05
32

2 5 ,4 8 0 ,2 7 7 16

3 0 ,9 4 8 ,2 7 2 ' 16

$86 9,49 5 42

$ 1 ,0 5 0 ,8 0 6 67

$ 2 3 ,6 4 6 ,0 0 2 18

$ 3 ,8 6 2 ,9 9 0 94

$ 8 7 ,8 8 9 ,7 9 2 20

$ 8 3 ,5 0 4 ,6 8 3 86

$ 2 0 0 ,8 2 3 ,7 7 1 27

C ollection s:
A m o u n t c o lle c t e d ..................................................... $268,961 19
A m ou n ts b o r r o w e d ...................................................
C ollected fro m s to ck h o ld e rs .................................
10,0 3 4 42

$5 0 3 ,2 4 5 50
8 ,7 9 1 89

$ 1 2 ,2 9 8 ,5 7 6 96
662,631 37
8 5 5 ,4 4 6 19

$ 2 ,1 2 0 ,8 8 6 56
3 2 5 ,0 4 7 67
214 ,722 30

$ 3 9 ,5 4 3 ,6 2 1 07
5 ,3 1 5 ,5 8 2 39
3 ,3 6 8 ,3 6 5 90

$ 4 3 ,6 2 4 ,6 7 8 57
3 0 ,5 2 8 ,0 9 4 04
2 ,9 3 7 ,5 4 1 00

$ 9 8 ,3 5 9 ,9 6 9 85
3 6 ,8 3 1 ,3 5 5 47
7 ,3 9 4 ,9 0 1 70

$27 8,99 5 61

$5 1 2 ,0 3 7 39

$ 1 3 ,8 1 6 ,6 5 4 52

$ 2 ,6 6 0 ,6 5 6 53

$ 4 8 ,2 2 7 ,5 6 9 36

$ 7 7 ,0 9 0 ,3 1 3 61

$ 1 4 2 ,5 8 6 ,2 2 7 02

$ 3 6 ,8 2 6 63

$ 7 0 ,4 1 3 67

$ 1 ,7 8 0 ,4 0 8 95

$37 3 ,2 9 9 27

$ 8 ,4 3 4 ,4 6 0 12

$ 7 ,2 4 8 ,2 7 4 03

$ 1 7 ,9 4 3 ,6 8 2 67

108 ,0 1 0 62
16,773 88
117 ,3 8 4 48

5 ,3 9 2 54
4 2 2 ,1 2 3 05
1 4 ,1 0 8 13

3 ,1 1 0 ,6 4 5 69
8 ,8 8 8 ,3 0 9 42
3 7 ,2 9 0 46

6 0 3 ,6 1 9 48
1 ,6 1 8 ,0 8 9 41
6 5 ,6 4 8 37

1 4 ,6 9 7 ,8 5 8 71
2 3 ,9 6 2 ,5 2 9 97

4 0 ,8 7 6 ,7 9 5 70
2 8 ,0 2 0 ,3 6 0 98

1 ,1 3 2 ,7 2 0 56

9 4 4 ,8 8 2 90

D isp osition o f C ollection s:
Secured and preferred liabilities, loans and
interest p a id ...........................................................
D ivid en d s p a id ..........................................................
O ther disposition o f co lle c tio n s ..........................
Cash on hand and on d eposit at 12-31-38___


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

5 9 ,4 0 2 ,3 2 2
6 2 ,9 2 8 ,1 8 6
234 ,4 3 1
2 ,0 7 7 ,6 0 3

74
71
44
46

$ 2 7 8,99 5 61

$51 2 ,0 3 7 39

$ 1 3 ,8 1 6 ,6 5 4 52

$ 2 ,6 6 0 ,6 5 6 53

$ 4 8 ,2 2 7 ,5 6 9 36

$ 7 7 ,0 9 0 ,3 1 3 61

$ 1 4 2 ,5 8 6 ,2 2 7 02

$ 6 0 ,0 0 0 00
584 ,2 6 2 55
108 ,010 62

$ 3 5 0 ,0 0 0 00
5 9 5 ,6 5 6 48
7 ,5 5 3 03

$ 2 ,1 0 3 ,2 0 0 00
1 5 ,5 3 0 ,9 5 5 99
2 ,7 8 8 ,9 5 8 25

$ 6 6 5 ,0 0 0 00
1 ,7 3 2 ,4 3 5 80
700 ,332 91

$ 7 ,4 6 5 ,0 0 0 00
5 4 ,4 1 4 ,4 9 0 50
1 0 ,8 4 9 ,4 7 1 14

$ 7 ,2 3 0 ,0 0 0 00
4 7 ,6 2 3 ,8 0 5 00
1 0 ,2 3 0 ,5 2 8 92

$ 1 7 ,8 7 3 ,2 0 0 00
1 2 0 ,4 8 1 ,6 0 6 32
2 4 ,6 8 4 ,8 5 4 87

REPORT OF THE COMMISSIONER

One
D epartm en t
R eceivership
o u t o f w hich
R e-organ iza­
tio n was
E ffected

O ne C ourt
R eceivership
o u t o f w hich
R e-organiza­
tio n was
E ffected

TABLE No. 32— List of Segregated Trusts of Michigan State Banks re-organized under Act 32, P. A. 1933,

N am e o f Bank


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

A d d is o n .........................
A d r ia n ............................
A d r ia n ............................
A d r ia n ............................
A lle g a n ...........................
A lm o n t ...........................
A lp e n a ............................
A l t o .................................
A r m a d a ..........................
A s h le y ............................
A u b u r n ..........................
B ad A x e ........................
B e lla ire..........................
B irch R u n .....................
B la n ch a rd .....................
B re ck e n rid ge ...............
B r ig h to n ........................
B y ro n C e n te r ..............
C a m d e n .........................
C a rson C i t y .................
C ed ar S p rin gs.............
C e n tre v ille ....................
C h e b o y g a n ...................
C h esan in g.....................
C la r k s to n ......................
C la rk sv ille....................
C lin t o n ..........................
C o n s ta n tin e .................
C o r u n n a ........................
C r o s w e ll........................
D a v is o n .........................
D o w a g ia c ......................
D u r a n d ..........................
F o u n ta in .......................
F ra n k e n m u th ..............
F ra n k e n m u th ..............
F r e e la n d ........................
F r e m o n t ........................
G la d w in .........................
H a m tr a m c k .................
H a rb o r B e a ch .............

Basis o f
R eorga n ization

50-50
50-50
65-35
50-50
50-50
40-60
50-50
50-50
50-50
50-50
60-40
50-50
50-50
50-50
50-50
50-50
50-50
50-50
50-50
60-40
50-50
50-50
60-40
50-50
60-40
50-50
40-60
40-60
50-50
50-50
60-40
50-50
50-50
50-50
50-50
60-40
40-60
60-40
60-40
40-60
40-60
50-50

B alan ce o f
C ertificates o f
P a rticip a tio n at
12-31-38

B ook V alue
o f A ssets at
12-31-38

$14 6 ,1 8 2
4 4 6 ,3 5 2
192 ,816
4 2 6 ,3 6 0
167,071
9 3 ,5 7 8
1 ,3 8 4 ,2 0 0
5 8 ,2 7 7
149 ,5 7 0
4 1 ,8 3 0
6 2 ,7 5 2
2 5 0 ,9 1 9
7 1 ,1 1 9
109 ,507
7 7 ,5 0 0
110 ,207
6 1 ,5 4 3
68,3 7 1
7 3 ,5 1 2
5 3 ,8 4 3

98
55
74
87
32
85
82
15
04
66
85
71
53
90
63
97
33
17
27
07

$ 1 1 0 ,5 0 0
4 0 3 ,7 2 5
1 5 7 ,9 1 0
3 3 8 ,0 7 2
1 2 7 ,9 3 0
7 5 ,7 8 0
6 6 5 ,6 4 4
5 0 ,3 8 5
105 ,421
4 4 ,0 3 6
2 9 ,4 9 8
2 3 4 ,3 1 3
34,6 4 1
7 3 ,1 6 9
56,001
6 9 ,1 2 7
3 1 ,8 4 9
4 5 ,4 6 4
4 5 ,5 0 3
1 4 ,3 7 3

39
22
60
89
68
63
96
06
74
78
27
79
59
30
32
26
38
52
15
14

104 ,029
130 ,208
2 3 2 ,7 8 9
3 8 0 ,9 3 5
6 5 ,0 8 7
6 4 ,3 6 4
3 1 8 ,9 1 0
150 ,693
159 ,859
2 9 6 ,1 4 0
9 0 ,0 2 4
140 ,009
2 4 3 ,4 4 9
5 1 ,5 8 9
3 77 ,821
2 6 7 ,7 4 0
4 8 ,5 0 9
2 6 8 ,0 4 4
161 ,397
2 4 3 ,5 6 6
160,295

93
20
29
74
22
76
73
14
10
41
31
00
90
90
63
35
83
86
79
79
63

8 4 ,5 2 9
5 6 ,9 7 4
1 21 ,248
3 3 2 ,5 5 6
4 7 ,1 9 8
4 1 ,2 2 7
2 7 4 ,8 9 0
1 5 0 ,0 7 4
9 3 ,4 4 9
1 68 ,344
2 3 ,7 1 9
9 5 ,2 5 9
2 3 2 ,4 7 9
1 7 ,9 3 0
165,521
2 3 0 ,7 3 0
2 6 ,5 2 4
2 17 ,317
169 ,132
2 00 ,855
108 ,2 0 4

53
51
72
98
33
63
18
19
30
97
06
61
90
00
20
57
99
54
29
50
33

P ercentage
o f D ivid e n d s
P a id on
Certificates o f
P a rticip a tion
30
35
65
50
55
20
60
40
45
45
60
40
50
40
40
60
70
40
60
90
101 .4 7
40
70
60
40
60
60
30
35
70
60
80
45
35
70
70
30
50
30
30
28
70

Bills P a yable
at
12-31-38

$ 2 ,4 0 0 00

1 5 ,0 0 0 00

STATE BANKING DEPARTM EN T

A d d ison State Savings B a n k .......................
A d rian State Savings B a n k ..........................
C om m ercial Savings B a n k ...........................
Lenaw ee C ou n ty Savings B a n k .................
A llegan State Savings B a n k ........................
A lm on t Savings B a n k ....................................
A lpen a T ru st and Savings B a n k ................
Farm ers State B a n k ........................................
A rm ada State B a n k ........................................
First State B a n k ...............................................
Peoples State Savings B a n k ........................
State Bank of F ran k W . H u b b a rd & Co.
Bellaire State B a n k .........................................
B irch R u n State B a n k ...................................
Blanchard State B a n k ....................................
Farm ers State B a n k ........................................
T h e B righton State B a n k .............................
B y ron Cen ter State B a n k .............................
F irst State B a n k ..............................................
State B ank o f C arson C i t y ..........................
P inney State B a n k ..........................................
Cedar Springs State B a n k ............................
W o lf Bros. S tate B a n k ...................................
C h eboygan State Savings B a n k .................
Chesaning State B a n k ....................................
C larkston State B a n k .....................................
E d w in N ash State B a n k ...............................
State Savings B a n k .........................................
First C om m ercial Savings B a n k ................
O ld C orunna State B a n k ..............................
State B ank o f C rosw e ll..................................
D a vison State B a n k ........................................
Lee State B a n k .................................................
Shiawassee C o u n ty B a n k ..............................
F ou n tain State B a n k ......................................
F ran kenm uth State B a n k .............................
A m erican State B a n k .....................................
F reeland State B a n k .......................................
O ld State B a n k .................................................
First State Savings B a n k ..............................
L ib erty State B ank o f H a m tr a m c k ..........
H u ron C ou n ty State B a n k ...........................

L o ca tio n


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

H e m lo c k ..............
H esp e ria ...............
H illsd a le ...............
H illsd a le ...............
H o lla n d ................
H o m e r ...................
H ow ard C i t y ----H u d so n ville .........
Jon esville.............
K a la m a zo o ..........
K a le v a ..................
K en t C i t y ............
K in g s to n ..............
L a k e v ie w .............
L ’A n s e ..................
L e slie.....................
L in w o o d ...............
L u d in g to n ............
M a n c e lo n a ..........
M a n ch e ste r.........
M a y b e e ................
M c B a in ................
M e n d o n ................
M e rrill..................
M id la n d ................
M in den C i t y . . . .
M o h a w k ...............
M o n ta g u e ............
M o r le y ..................
M t. P le a s a n t.. . .
M u n isin g ..............
M u n it h .................
N e w a y g o ..............
N ew B a lt im o r e ..
N e w b e r r y ............
N e w p o r t...............
O rto n v ille ............
O sc o d a ..................
O tisville................
O x fo r d ...................
Paw P a w .............
P e n tw a te r............
P in co n n in g ..........
P ort A u s tin .........
P ort H o p e ...........
P o r tla n d ..............
Reed C i t y ............
R e m u s ...................
R iv e r d a le .............
R o c k fo r d ..............
R ogers C it y . . . .
S ebew ain g............
South H a v e n . . .

50-50
50-50
65-35
65-35
50-50
50-50
50-50
40-60
35-65
50-50
50-50
50-50
40-60
50-50
60-40
50-50
60-40
50-50
50-50
50-50
50-50
50-50
60-40
50-50
65-35
50-50
50-50
40-60
50-50
60-40
40-60
40-60
60-40
50-50
50-50
50-50
40-60
50-50
40-60
50-50
40-60
50-50
40-60
40-60
50-50
50-50
50-50
50-50
50-50
50-50
50-50
50-50
50-50

REPORT OF THE COMMISSIONER

H em lock State B a n k ...................... ..............................
S tate B ank o f H e sp e ria ...............................................
F irst State Savings B a n k ...........................................
H illsdale Savings B a n k ............................... ...............
F irst State B a n k ............................................................
C a lh ou n State B a n k .....................................................
O ’ D o n a ld State B a n k ...................................................
H u dson ville State B a n k ..............................................
G rosven or Savings B a n k ............................................
H o m e Savings B a n k .....................................................
K a lev a State B a n k ........................................................
K e n t C ity State B a n k .................................................
K in gston State B a n k ...................................................
Farm ers and M erch an ts S tate B a n k .....................
M in ers and M erch an ts S tate Bank o f G reenland
P eop les B a n k ...................................................................
S tate Bank of L in w o o d ...............................................
L u d in gtoji State B a n k .................................................
A n trim C o. State Savings B a n k ..............................
P eoples B a n k ...................................................................
P eop les S tate B a n k .......................................................
M c B a in State B a n k ......................................................
First State B a n k ............................................................
F arm ers & M erch ants State Bank o f W h e e le r ..
C h em ical S tate Savings B a n k ..................................
S tate Savings B a n k .......................................................
K ew eenaw Savings B a n k ............................................
F arm ers State B a n k .....................................................
M o r le y State B a n k .......................................................
E x ch an ge Savings B a n k .............................................
P eoples S tate B a n k .......................................................
Farm ers State B a n k .....................................................
F irst State B a n k ............................................................
C itizen s S tate Savings B a n k .....................................
N ew b erry State B a n k ..................................................
N e w p o rt State B a n k ............................................. ..
S tate Bank o f O rto n v ille ............................................
O scoda State Savings B a n k .......................................
O tisville State B a n k ................................................... ..
O xford Savings B a n k ...................................................
Joh n W . F ree State B a n k ..........................................
P en tw ater State B a n k .................................................
P in con n in g State B a n k . . ........................................ ..
P o r t A u stin State B a n k ..............................................
S tate Bank of P ort H o p e ...........................................
M a yn a rd -A lien State B a n k .......................................
L e R o y State B a n k ........................................................
S tate Savings B a n k ......................................................
R iverd a le State Savings B a n k .................................
R o c k fo r d State B a n k ...................................................
Presque Isle C o. Savings B a n k ................................
Farm ers & M erch ants S tate B a n k .........................
F irst State B a n k ..................................................... ..

TABLE No. 32— Concluded.

N am e o f Bank

L o ca tio n

Basis of
R eorga n ization

44 307
134 365
143 796
90 853
91 748
3 0 0 ,7 0 2
8 3 ,2 2 0
654 156
7 561
60 363
92 619
46 960
138 501
542 !9 3 9

16
65
42
78
91
84
56
83
79
04
99
77
56
70

$ 1 8 ,3 4 7 ,8 7 5 98

2 4 ,6 7 4
4 1 ,3 4 7
9 6 \979
681897
4 4 Ì 718
2081877
5 4 ,5 0 6
281 ,971

32
21
62
79
34
69
35
65

29 677
64 968
1 5 ,0 3 6
70 720
3 9 6 ,6 0 8

84
16
23
00
19

P ercentage
o f D ivid en d s
Paid on
C ertificates o f
P a rticip a tion

Bills P a yable
at
12-31-38

80
80
25
50
60
30
45
70
100
60
40
85
60
40

2 3 ,6 8 2 70

$ 1 0 0 ,9 8 6 20

$ 1 1 ,9 0 3 ,6 6 4 10

Trusts w hich have been term in ated:

H o lt ................................

60-40
50-50
60-40
60-40
50-50
60-40
65-35
60-40
70-30
60-40
50-50

C losed 12-15-38. . .
C losed 12- 4-3 6 . . .
C losed
C losed
C losed
C losed
C losed
C losed
C losed
C losed

11-15-38
12- 1-38. . .
5- 2-38 . .
12-31-37. .
11-16-38 . .
1 2 -3 1 -3 7 .. .
12-14-38
8- 1-38

1 0 3 .6
102 .98
103.63
100
106.37
103 .2 4
108.25
100
103 .87
101 .08
108 .15

*

*A11 certificates w ith balance o f $200.00 or under, after p aym en t o f secon d dividend, w ere paid in full. O ther creditors have entered in to w ritten agreem ent t o fo rm
D ep ositors C orporation.


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Federal Reserve Bank of St. Louis

\

STATE BANKING DEPARTMENT

50-50
50-50
50-50
60-40
50-50
50-50
40-60
50-50
60-40
50-50
50-50
60-40
50-50
60-40

-

B alance of
C ertificates of
P a rticipa tion at
12-31-38

B o o k V alue
o f A ssets at
12-31-38


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Federal Reserve Bank of St. Louis

CO

TABLE No. 33— List of Depositors’ Corporations created under the “ 54 Bank Plan,” by authority of Act 32, P. A. 1933.

N am e of C o rp o ra tio n


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

A l b i o n ............................
A lle g a n ...........................
B elle ville .......................
Big R a p id s ...................
B lo o m in g d a le..............
C a d illa c .........................
C a p a c .............................
C a rle to n ........................
C a rso n v ille...................
C h a rle v o ix ....................
C o n c o r d .........................
D u n d e e ..........................
E ast L a n s in g ...............
E c o r s e ............................
E ls ie ................................
F ra s e r.............................
G a y lo r d ..........................
G rand L e d g e ...............
G rand L e d g e ................
G re e n v ille .....................
H a m tr a m c k .................
H arbor B e a ch .............
H o lla n d ..........................
H o ll y ..............................
H o w e ll............................
L a ke O dessa.................
L a ke O dessa.................
L a ke O rio n ...................
L a p e e r ............................
L itc h fie ld .......................
L o w e ll.............................
L o w e ll............................
M e ta m o r a .....................
M ila n ..............................
N e w B o s t o n .................
N iles .............................
N o rth B ra n ch .............

P ig e o n ............................
P o rt H u r o n ..................
R ic h m o n d .............. ..

Basis of
R eorganization

50-50
40-60
50-50
40-60
40-60
45-55
50-50
40-60
40-60
40-60
40-60
50-50
45-55
50-50
40-60
40-60
50-50
40-60
50-50
40-60
50-50
50-50
50-50
40-60
40-60
40-60
40-60
40-60
40-60
60-40
50-50
50-50
50-50
45-55
45-55
40-60
40-60
40-60
40-60
40-60
50-50
40-60
40-60

B alance of
C ertificates of
In debtedness at
12-31-38

B ook V alue
o f Assets at
12-31-38

$25 7,00 5
2 0 6 ,0 9 4
3 2 7 ,6 7 8
317 ,881
108 ,7 4 0
9 2 1 ,9 7 8
172,705
150 ,180
185,742
2 15 ,245
3 2 3 ,3 1 2
1 88 ,454
3 4 5 ,4 9 8
246 ,6 7 3
125,905
3 4 4 ,2 0 0
165,835
3 0 7 ,4 0 8
2 0 0 ,8 2 0
2 9 7 ,5 2 8
1 ,5 6 6 ,2 7 0
1 00 ,258
676 ,3 5 5
4 4 0 ,6 2 0
161 ,386
72,711
146 ,9 1 4
2 9 5 ,6 7 0
2 7 6 ,1 1 8
77,061
1 72 ,509
153 ,7 3 4
8 5 ,6 4 8
2 6 0 ,3 7 3
2 0 3 ,3 9 4
125 ,558
218 ,6 7 2
507 ,431
4 1 7 ,2 6 7
113,151
137 ,307
794 ,582
4 0 4 ,6 0 3

21
30
67
42
33
12
74
23
08
99
75
37
27
12
42
08
68
11
98
16
91
85
29
86
41
92
57
97
32
95
83
68
29
15
66
72
52
12
87
29
21
09
41

$14 5,21 1
161,301
2 21 ,963
2 4 0 ,6 0 4
9 8 ,8 7 4
4 9 8 ,0 3 5
1 02 ,944
109,162
144,812
182,507
2 5 9 ,6 1 8
8 3 ,8 8 7
228 ,021
8 2 ,8 5 6
142 ,392
2 7 4 ,8 7 4
13,197
2 2 4 ,4 9 0
139,995
199 ,778
7 99 ,123
5 9 ,1 3 0
5 0 0 ,7 5 6
4 4 3 ,1 9 9
8 2 ,2 3 3
72,521
117,582
185 ,255
219,351
7 6 ,133
143,487
171 ,723
5 6 ,6 1 8
2 0 8 ,5 8 0
150 ,7 8 0
2 01 ,373
166 ,958
3 9 9 ,0 3 2
2 9 7 ,5 4 8
8 1 ,4 8 7
9 7 ,0 6 6
8 5 9 ,2 6 3
3 8 1 ,3 6 2

70
18
76
20
00
54
39
77
18
93
09
79
85
01
94
45
96
50
30
29
39
94
84
49
04
81
81
74
33
45
54
13
10
37
39
50
85
81
85
49
37
87
59

P ercentage
o f D ivid en d s
P aid on
C ertificates o f
In debtedn ess
45
37
30
20
30
30
45
20
25
25
10
55
30
80
30
20
95
35
40
45
56
50
20
20
6 6 .6 7
55
35
20
30
20
30
25
30
20
15
50
45
20
40
45
40
15

Bills P a yable
at
12-31-38

$ 1 8 ,0 0 0 00
1 2 ,5 3 3 61
3 2 ,3 5 4 21

5 2 ,5 1 1 00
5 ,0 0 0 00
1 ,0 8 9 74
1 5 ,0 0 0 00
1 ,9 6 0 50

9 ,6 0 0 84

2 7 ,0 0 0 00
1 7 ,5 0 0 00
5 ,6 0 9 87

STATE BANKING D EPARTM ENT

A lb ion D ep ositors C o r p o r a tio n ................................
A llegan D ep ositors C o r p o r a tio n ..............................
Belleville D epositors C o r p o r a tio n ...........................
Big R a pid s D epositors C o r p o r a tio n .......................
B loom ingdale D ep ositors C o r p o r a tio n ..................
C adillac State D ep ositors C o r p o r a tio n ................
C apac D epositors C o r p o r a tio n .................................
C arleton D ep ositors C o r p o r a tio n ............................
C arsonville D ep ositors C o r p o r a tio n .......................
C h arlevoix D ep ositors C o r p o r a tio n .......................
C on cord D ep ositors C o r p o r a tio n ............................
D u n d ee D epositors C o r p o r a tio n .............................
E ast Lansing D ep ositors C o r p o r a tio n ...................
E corse D ep ositors C o r p o r a tio n ................................
Elsie D ep ositors C o r p o r a tio n ...................................
Fraser D ep ositors C o r p o r a tio n ................................
G a ylord State D ep ositors C o r p o r a tio n .................
E a ton D epositors C o r p o r a tio n ............ ....................
G rand L edge D ep ositors C o r p o r a tio n ...................
G reen ville D ep ositors C o r p o r a tio n .........................
H am tram ck D ep ositors C o r p o r a tio n .....................
H a rbor Beach D ep ositors C o r p o r a tio n .................
H olland C ity D ep o sito rs C o r p o r a tio n ...................
H olly D ep ositors C o r p o r a tio n ..................................
H ow ell D ep ositors C o r p o r a tio n ...............................
Farm ers & M erch an ts D ep ositors C o r p o r a t io n ..
S tate Savings D ep ositors C o r p o r a tio n ..................
O rion D epositors C o r p o r a tio n ..................................
Lapeer D epositors C o r p o r a tio n ................................
L itchfield State D ep ositors C o rp o ra tio n ..............
C ity State D ep ositors C o r p o r a tio n ........................
L ow ell State D ep ositors C o r p o r a tio n ....................
M eta m ora D ep ositors C o r p o r a tio n ........................
M ilan D ep ositors C o r p o r a tio n .................................
N ew B oston D ep ositors C o r p o r a tio n ....................
N iles D epositors C o r p o r a tio n ...................................
N o rth B ranch D epositors C o r p o r a tio n .................
C itizens D ep ositors C o r p o r a tio n .............................
O w osso D ep ositors C o r p o r a tio n ..............................
P a w Paw D ep ositors C o r p o r a tio n ..........................
P igeon D ep ositors C o r p o r a tio n ................................
R o r t H uron D epositors C o r p o r a tio n ......................
R ich m on d D ep ositors C o r p o r a tio n .........................

L o ca tio n

Y a l e ................................

40-60
50-50
50-50
45-55
40-60
40-60
50-50
40-60
40-60
50-50

619 ,301
2 9 9 .8 7 5
2 9 1 ,7 6 9
170,011
3 7 7 ,4 6 7
7 0 5 ,6 5 2
1 9 8 ,1 4 4
4 7 2 .8 7 5
9 0 ,6 9 4
2 5 8 ,9 1 3

56
51
94
63
27
67
00
68
16
08

$ 1 6 ,3 0 1 ,1 9 9 42

4 9 1 ,9 1 5
165 ,5 9 8
135 ,931
1 2 3 ,4 2 8
2 1 9 ,9 6 4
5 7 7 ,1 6 0
128 ,885
3 7 3 ,6 6 2
5 2 ,1 2 0
2 6 0 ,2 4 7

20
94
20
47
39
10
88
28
36
67

24
40
40
40
35
40
60

2 9 ,9 6 8 82

5 5 ,7 1 4 92
7 ,4 1 8 49
3 ,5 6 4 75

60

$ 1 1 ,8 5 4 ,0 1 8 02

$ 2 9 4 ,8 2 6 75


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

50-50
40-60

1 09 .45
1 0 6 .8

2 2 5 ,3 4 4 45

$ 1 6 ,5 2 6 ,5 4 3 87

$ 1 1 ,8 5 4 ,0 1 8 02

$ 2 9 4 ,8 2 6 75

REPORT OF THE COMMISSIONER

D e p o s ito rs ’ C orporation s w h ich paid final
dividends during 1938:

CO

TABLE No. 34— List of Segregated Trusts of Michigan State Banks re-organized under Act 8 of P. A. of 1932 and prior acts.

N am e o f Bank

T o ta l A c tiv e as at 12-31-38

B e n to n H arbor
B e u la h ................
B rid gew ater. . .
C a r o .....................
E a st D e t r o i t .. .
M a n t o n ..............
M o n r o e ..............
M t . C le m e n s ...
N o r t h v ille .........
N o r t h v ille .........
R e a d in g ..............
S a lin e..................
S ch o o lcra ft
W a y la n d ............
Y p s ila n ti............

Basis o f
R eorga n ization

55-45
50-50
60-40
60-40
40-60
50-50
70-30
40-60
60-40
60-40
50-50
75-25
50-50
50-50
75-25

Balance of
C ertificates of
P a rticipa tion at
12-31-38

B o o k V alue
o f A ssets at
12-31-38

$19 8,52 1
9 6 ,0 0 9
103 ,618
2 76 ,002
2 1 9 ,2 7 6
8 6 ,7 3 2
2 8 3 ,5 3 2
2 ,2 1 9 ,2 7 5
284 ,1 4 2
129 ,733
9 5 ,1 7 4
9 8 ,4 0 0
1 2 0 ,5 4 0
16,8 1 8
3 3 7 ,3 3 6

23
82
69
87
87
44

00

55
47
83
78

00
30
93
05

$ 4 ,5 6 5 ,1 1 5 83

$ 1 8 8,22 5
3 3 ,0 6 6
7 0 ,9 1 0
2 5 9 ,5 0 5
2 2 1 ,5 7 8
4 2 ,3 6 3
7 0 ,2 8 8
1 ,5 6 4 ,7 6 8
3 1 2 ,9 9 5
159 ,698
9 4 ,8 9 3
8 8 ,5 9 7
1 04 ,648
9 6 ,1 3 3
3 34 ,231

06
63
84
44
70
76
58
52
25
55
64
66
75
60
61

P ercentage o f
D iv id e n d s Paid
on C ertificates
o f P a rticip a tion

50
60
3 2 .5
35
(a)
25

$ 1 3 ,0 0 0 00
2 5 0 ,0 0 0 00

30
35
40

$ 3 ,6 4 1 ,9 0 6 59

(a) P aid in full e xcep t fo r six depositors w h o e xecu ted extension agreem ent fo r an add ition al tw o years.
N O T E :— F ifty -se v e n banks w ere reorganized u nd er A c t 8 o f P. A . 1932 and prior acts. A s a t D e ce m b e r 31, 1938, fo rty -tw o trusts were term in ated.


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Federal Reserve Bank of St. Louis

Bills P a yable
at
12-31-38

$ 2 6 3 ,0 0 0 00

STATE BANKING DEPARTMENT

B en ton H a rb or State B a n k . . . .
C en tral State B a n k ......................
B ridgew ater Savings B a n k . . . .
S tate Savings B a n k ......................
F irst S tate B a n k ............................
M a n to n S tate B a n k .....................
M o n r o e State Savings B a n k . . .
M t . C lem ens Savings B a n k . . . .
L a ph am S tate Savings B a n k . . .
N orth v ille S tate Savings B a n k .
S tate B ank of R e a d in g ................
Saline Savings B a n k .....................
K ala m a zoo C o u n ty State Bank
W a y la n d S tate B a n k ...................
Y p silan ti Savings B a n k ..............

L o ca tio n

TABLE NO. 35

REPORTS
OF THE

State Banks and Trust Companies
AS MADE TO THE COMMISSIONER OF THE STATE BANKING DEPARTMENT


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Federal Reserve Bank of St. Louis

DECEMBER 31, 1938


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Federal Reserve Bank of St. Louis

41

STATE BANKS OF MICHIGAN
No. 325.
THE ADDISON STATE SAYINGS BANK, ADDISON.
Organized October 11, 1905.
F. B. C l e v e l a n d ,

P r e s id e n t;

H. B. B r a n c h ,

V ic e

P r e sid e n t;

J. E . H ic k o r y ,

C a s h ie r .

D ir e c t o r s .— F. B. Cleveland, E. M. Rawson, H. E. Branch, L. M. Page, J. E. Hickory,

F.

D. Jenkins.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $232,140.64
Overdrafts _____
63.84
United States Government obligations,
direct and guaranteed ______________
12,627.00
Other bonds, stocks, and securities ____
65,527.04
5,000.00
Banking house _________________________
Furniture and fixtures _________________
2,125.00
Cash, balances with other banks, and
40,040.93
cash items in process of collection____

Total ________________________i _____

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations______________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding___ _
Capital account:
Common s to c k ________________________
Surplus _______________________________
Undivided profits _____________________

$357,524.45

T o t a l ________ I_____________________

$56,815.02
217,273.18
46,663.72
5,102.97
25,000.00
5,000.00
1,669.56
$357,524.45

No. 162.
AD RIA N STATE SAYINGS BANK, AD RIAN.
Organized May 24, 1893.
C h a r l e s S. W h i t n e y , C h a ir m a n o f t h e B o a r d ; F red E. P a r k , P r e s i d e n t ; W. O. H u n t ,
V i c e P r e s i d e n t ; H. A. M oore , C a s h i e r ; H. C. K in g , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Charles S. W hitney, Fred E. Park, W. O. Hunt, Ernest E. Tobias, E. C.

Michener, S. W. Raymond, G. E. Cutler, H. A. Moore.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $311,648.76
Overdrafts _____________________________
48.63
United States Government obligations,
direct and guaranteed _______________
119,300.00
Other bonds, stocks, and securities_____
227,559.13
Banking house _________________________
50,000.00
Furniture and fixtures _________________
10,756.31
Reserve with Federal Reserve Bank_____
122,170.49
Cash, balances with other banks, and
cash items in process of collection____
175,664.35
Other a ssets__________________
6,062.79

Demand deposits of individuals, partner­
ships, and corporations ______________ $221,415.87
Time deposits of individuals, partnerships,
and corporations ___________________
500,901.04
State, county, and municipal deposits____ 127,891.89
United States Government and Postal
Savings deposits_____ ,________________
40,000.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
25,358.75
Capital account:
Common s to c k __________
101,100.00
Undivided profits _____________________
6,542.91

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,023,210.46

Total

$1,023,210.46

42

STATE BANKING D EPARTM ENT
No. 89.
THE COM MERCIAL SAVINGS BANK, ADRIAN.
Organized April 10, 1888.

C h a r l e s G. H a r t , C h a i r m a n o f t h e B o a r d ; P. J . D u n n , P r e s i d e n t ; H . A . F e b , J o s e p h
P. L i b s , V i c e P r e s i d e n t s ; L. A . W a l k e r , C a s h i e r ; G. C. B on d , J. T. M c K e n d r y , A s s i s t ­
a n t C a s h ie r s .

D ir e c t o r s .— C h a r le s G . H a r t , H e n r y R . J e w e t t , W . H . B a r r e t t , J o s e p h P . L ib s , P . J.
D u n n , L . W . S m it h , A . A . P a lm e r , H . A . F e e , E d w in L . B a k e r .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ____________________ $679,105.14
Overdrafts _____________________________
44.56
United States Government obligations,
direct and guaranteed
______________ 507,481.25
596,648.69
Other bonds, stocks, and securities ____
Banking house
_
______ _______
55,000.00
Reserve with Federal Reserve Bank
289,926.68
Cash, balances with other banks, and
cash items in process ofcollection ___ 639,740.50
Cash items not in process of collection._
2,002.39

Demand deposits of individuals, partner­
ships, and corporations........ __ __ __
$711,756.17
Time deposits of individuals, partner­
ships, and corporations
1,695,966.36
State, county, and municipal deposits___
205,418.02
United States Government and Postal
Savings deposits
______„ ___________
4,224.08
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
19,973.54
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
110,000.00
Undivided profits _____________________
13,579.26
Reserve for contingencies______________
9,031.78

Total ____________ __________________ $2,769,949.21

Total _______________________________ $2,769,949.21

No. 66.
LENAW EE COUNTY SAVINGS BANK, ADRIAN.
Organized February 1, 1872.
A . W . R o bb , P r e s i d e n t ; F . W . P r e n t ic e , R . T . M o r e l a n d , V i c e P r e s i d e n t s ; R . P . W a t t s ,
C a s h ie r ; N. L . G roesch o w , A s s is ta n t C a s h ie r ; E . F . M eyerh u ber, A u d ito r .

D ir e c t o r s .— W . B . A le x a n d e r , W . I I . B u r n h a m , W . M . C o r n e liu s , H o w a r d H . H e ffr o n , K .
B.

H o c h , R . T . M o r e la n d , F . W . P r e n t i c e , A . W . R o b b .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $484,962.08
Overdrafts _____________________________
48.49
United States Government obligations,
direct and guaranteed ________
710,325.63
Other bonds, stocks, and securities ___
331,217.24
Banking house _________________________
47,500.00
Furniture and fixtures ________
10,800.00
Reserve with Federal Reserve Bank _
189,057.85
Cash, balances with other banks, and
cash items in process ofcollection ____
220,282.47
Cash items not in process of collection__
654.13

Demand deposits of individuals, partner­
ships, and corporations _______________ $422,455.12
Time deposits of individuals, partnerships,
and corporations ______________________ 1,176,484.63
State, county, and municipal deposits
_ 183,634.31
United States Government and Postal
Savings deposits _____________________
34,929.80
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
16,955.61
Capital account:
Common s to c k ________________________
110,000.00
Surplus ______________________________
20,000.00
Undivided profits _____________________
14,311.98
Reserve for contingencies_____________
16,076.44

Total _______________________________$1,994,847.89

Total _______________________________ $1,994,847.89


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKS OF MICHIGAN

43

No. 732.
THE AKRON STATE BANK, AKRON.
Organized December 8, 1926.
T. J. F r i t z , P r e s i d e n t ; C a r so n E l l io t t , V i c e P r e s i d e n t ; C. W . S t a c y , C a s h i e r ; M o l l ie B.
S t a c y , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— T. J. Fritz, Ray T. Fritz, C. E. Morton, R. S. Streeter, Carson E lliott.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $128,628.52
Overdrafts _____________________________
3.01
United States Government obligations,
direct and guaranteed _ _____________
23,400.00
Other bonds, stocks, and securities_____
1,200.00
Banking house _________________________
3,500.00
Furniture and fixtures
___________
_
1,000.00
Cash, balances with other banks, and
cash items in process of collection___
43,545.90

Total _________________________ _____

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, and municipal deposits___
United States Government and Postal
Savings deposits ______________________
Capital account:
Common stock _________
Surplus ______________________________
Undivided profits _____________________

$201,277.43

T o t a l____ :__________________________

$40,775.59
114,236.65
18,050.36
340.15
20,000.00
5,000.00
2,874.68
$201,277.43

No. 167.
THE COM MERCIAL & SAVINGS BANK OF ALBION, ALBION.
Organized May 2, 1893.
H o m e r C. B l a i r , P r e s i d e n t ; L. C. V a n G o r d e n , C h a s . G. B ig e l o w , V i c e P r e s i d e n t s ; H. C.
F o x , C a s h i e r ; C h a r l e s S. L oud , A s s i s t a n t C a s t i i e r ; A s e n a t h F ord , A u d i t o r .
D ir e c t o r s .— Homer C. Blair, Chas. G. Bigelow, L. C. VanGorden, W. S. Kennedy, A. L.

Young, C. E. Marsh, W. Clark Dean, H. L. Houseman, E. C. Biewend, W. J. Kearney.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $403,649.92
203.03
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed _______________
189,831.51
Other bonds, stocks, and securities ____
352,756.26
Banking house _________________________
16,000.00
Reserve with Federal Reserve Bank___
92,624.89
Cash, balances with other banks, and
cash items in process of collection__
109,626.24
Cash items not in process of collection__
657.83
Other assets ___________
334.98

Demand deposits of individuals, partner­
$399,718.45
ships, and corporations _________
Time deposits of individuals, partnerships,
and corporations _ _____
566,298.77
State, county, and municipal deposits___
62,174.59
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ___
2,768.17
Dividends declared but not yet payable
3,000.00
Other liabilities ________________
4,514.41
Capital account:
Common stock _______________________
loo.ooo.oo
Surplus ______________________________
23,000.00
Undivided profits _____________________
4,210.27

Total ------------------------------------------------ $1,165,684.66


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ------------------------------------------------$1,165,684.66

44

STATE BANKING D EPARTM ENT
No. 498.
THE ALGONAC SAVINGS BANK, ALGONAC.
Organized April 13, 1912.

C. R . C h a m p io n ,

P r e s id e n t;

W . E . F o l s o m , V i c e P r e s i d e n t a n d C a s h i e r ; F r a n c e s St e w a r t ,
A ssista n t

C a s h ie r .

D ir e c t o r s .— C. R. Champion, W. E. Folsom, E. B. Galton, Charles Gilbert, Charles W orthy.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $111,117.53
United States Government obligations,
130,027.00
direct and guaranteed _______________
Other bonds, stocks, and securities_____
129,540.75
Banking house _____________________________ 12,000.00
Reserve with Federal Reserve B ank_____
107,214.07
Cash, balances with other banks, and
cash items in process of collection____
63,193.31

Demand deposits of individuals, partner­
ships, and corporations ___________
$145,483.52
Time deposits of individuals, partnerships,
and corporations _____________________
287,399.42
State, county, and municipaldeposits ...
80,624.46
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,210.60
Capital account:
27,500.00
Common stock ________________
Undivided profits _______________ ,____
9,290.83
Reserve for contingencies ____________
583.83

Total _______________________________

$553.092.66

Total _______________________________

$553,092.66

No. 314.
ALLEGAN STATE BANK, ALLEGAN.
Organized May 24, 1905.
E. W. D e L ano ,

C. F. P eck , A. W. H arty , E. W. S tone , V i c e
H . E. V a u p e l l , C a s h i e r ; A. Z. H u r t e a u , A s s t . C a s h i e r .
P r e s id e n t;

P r e s id e n ts ;

D ir e c t o r s .— Albert Brand, G. C. Cook, E. W. DeLano, E. T. Horan, Leon Kolvoord, Fred

McOmber, Ray Perrigo, C. F. Peck, E. W. Stone, H. E. Vaupell, Frank Weber, S. J. Wise.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $540,120.49
68.91
Overdrafts ___ __________________________
United States Government obligations,
direct and guaranteed _______________ 209,067.81
Other bonds, stocks, andsecurities______
263,246.35
Banking house _________________________
16,000.00
Furniture and fixtures _________________
14,008.78
Cash, balances with other banks, and
cash items in process of collection____
520,467.48
Other assets _____
7,525.84

Demand deposits of individuals, partner­
ships, and corporations________________ $507,899.09
Time deposits of individuals, partnerships,
and corporations ____________________
780,481.26
State, county, andmunicipal deposits____
166,851.20
United States Government and postal
savings deposits ______________________
2,128.29
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
10,703.50
Other liabilities ________________________
835.75
Capital account:
Common stock _______________________
80,000.00
Undivided profits ____________________
17,443.58
Reserve for contingencies ____________
4,162.99

Total _______________________________ $1,570,505.66

Total _______________________________ $1,570,505.66


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

45

STATE BANKS OF M ICHIGAN
No. 487.
TH E ALLEN STATE SAVINGS BANK, ALLEN.
Organized March 7, 1911.
B. W. B r o c k w a y ,
P r e s id e n t;

o f th e B o a r d an d P r e s id e n t ; H arlow V anP a tt e n , V ic e
H a t t ie M. B r o c k w a y , C a s h i e r ; H a r l o w V a n P a t t e n , S e c . o f B o a r d .
C h a ir m a n

D ir e c t o r s .— B. W. Brockway, Harlow VanPatten, Bert Kemp, Charles Miller, Barnard

Howard.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $103,268.37
Overdrafts _______________
1.62
United States Government obligations,
direct and guaranteed_______________
20,800.00
Other bonds, stocks, andsecurities -------6,430.00
Banking house _________________________
3,500.00
Furniture and fixtures _________________
500.00
Real estate owned other than banking
house ________________________________
200.00
Cash, balances with other banks, and
cash items in process of collection------26,393.72
T o t a l _________ - ____________________

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ___________________ _
State, county, and municipal deposits___
Capital account:
First preferred stock _____________ _____
Common stock _______________________
Undivided profits __ - ________ ________
Preferred stock retirement fu n d _____«.
Total _______________________________

$161,093.71

$36,866.80
88,114.85
10,000.00
10,000.00
10,000.00
3,872.06
2,240.00
$161,093.71

No. 232.
THE ALM A STATE SAVINGS BANK, ALMA.
Organized April 21, 1901.
F r e e m a n C. M a p e s , P r e s i d e n t a n d C a s h i e r ; J a m e s E. M i t c h e l l , J o s e p h B a t t l e s , V i c e
P r e s i d e n t s ; N o r m a n F. G e l l e r , A s s i s t a n t C a s h i e r ; C a r o l in e L. H a l l , A u d i t o r a n d
A ssista n t

C a s h ie r .

D ir e c t o r s .-— James

E. Mitchell, Mary C. Bahlke, Freeman C. Mapes, Eva
Joseph Battles, Charles L. Hicks, Clyde O. Decker.

I.

Glass,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $158,772.65
O v e rd ra fts _______________________
13.00
United States Government obligations,
direct and guaranteed------------------------ 121,400.00
Other bonds, stocks, andsecurities----------140,862.55
Banking house ________ „_______________
37,000.00
Furniture and fixtures _________________
4,000.00
Real estate owned other than banking
house ________________________________
19,574.99
Cash, balances with other banks, and
cash items in process of collection___
184,107.18

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $226,219.86
Time deposits of individuals, partnerships,
and corporations ___________
204.547.80
State, county, and municipal deposits----98,224.68
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------16,523.38
Capital account:
First preferred stock _________________
50,000.00
Common stock _______________________
50,000.00
Undivided profits ------------------------------11,752.05
Preferred stock retirement fund -------3,462.60

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$665,730.37

T o t a l __ ____________________________

$665,730.37

STATE BANKING DEPARTM EN T

4(ì

No. 233.
THE F IR S T STATE BANK OF ALMA, ALMA.
Organized June 9, 1901.
C h a r l e s H . G o g g in , P r e s i d e n t ; C h a s . O. W ar d , M a r l ie S l i n g l u f f , V i c e P r e s i d e n t s ;
W m . M c F ad d e n , C a s h i e r ; C. N. C u m m i n g s , C la r e n c e F. B l a n c k ., A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— Marlie Slingluff, Charles H . Goggin, G. V. Niles, W illiam McFadden, Frank

O. Parker, Fred Bradford, K. B. Montigel, Dr. Chas. F. DuBois, Charles O. Ward.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $574,268,22
Overdrafts - ____________________
2,157.57
United States Government obligations,
direct and guaranteed _______________
174,706.66
Other bonds, stocks, andsecurities______
296,106.41
Banking house _________________________
25,000.00
Furniture and fixtures _________________
7,500.00
Real estate owned other than banking
house ________________________________
6,500.00
Cash, balances with other banks, and
cash items in process of collection____
270,450.04

Demand deposits of individuals, partner­
ships, and corporations ______________ $407,663.20
Time deposits of individuals, partnerships,
657,540.45
and corporations _____________________
State, county, and municipal deposits___
101,246.18
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,633.43
Capital account:
Common stock _______________________
100,000.00
Surplus ______________________________
50,000.00
Undivided profits ____________________
33,605.64

Total _______________________________ $1,356,688.90

Total _______________________________ $1,356,688.90

No. 437.
TH E ALMONT SAVINGS BANK, ALMONT.
Organized April 27, 1909.
Jam es

M i t c h e l l , P r e s i d e n t ; A l l a n M u ir , V ic e P r e s i d e n t ; L. A.
M a r jo r ie B r a id w o o d , Ass’ f C a s h ie r .

B ech tol, C a sh ier;

D ir e c t o r s .— George D. Hart, Jame,s Mitchell, Allan Muir, Harry A. McCormick, L. A.

Bechtol, W. Ross Lawrence, E. W. Stewart.

Statement December 31. 1938.
ASSETS
Loans and discounts ___________________ $180,195.79
Overdrafts ________________
9.19
United States Government obligations,
11,200.00
direct and guaranteed _______________
Other bonds, stocks, andsecurities______
45,656.78
Banking house _________________________
3,300.00
Furniture and fixtures ______________ __
500.00
Cash, balances with other banks, and
cash items in process of collection____
79,380.63

Total ------------------------------------------------ $320,242.39


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ____________________

$74,309.12
193,194.46
19,032.07
657.98
1,076.76
25,000.00
5,000.00
1,972.00

T o t a l -------- --------------------------------------- $320,242.39

STATE BANKS OF M ICHIGAN

47

No. 169.
ALPENA SAYINGS BANK, ALPENA.
Organized December 26, 1893.
M a r k A . W il s o n , P r e s i d e n t ; D . D . H a n o v e r , V i c e P r e s i d e n t ; J. E. L a L on d e , A r c h ie
S t o d t , G o y E a t o n , D . H . M a r k h a m , K o bert P . K o t w i c k i , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— D a n ie l D . H a n o v e r , R o b e r t P o l z i n , J o h n E. R ic h a r d s , A l o n z o B . G re e n , W .
A.

B la c k b u r n , C lin t o n P . H a r r is , C a r l R . H e n r y , M a r k A . W ils o n .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $623,505.31
Overdrafts ___________________________
103.02
United States Government obligations,
direct and guaranteed
____
863,151.10
Other bonds, stocks, and securities_____ 1,287,043.59
Banking house _____
36,930.00
Furniture and fixtures _____
4,883.71
Reserve with Federal Reserve Bank_____
199,186.70
Cash, balances with other banks, and
450,318.25
cash items in process of collection___

Demand deposits of individuals, partner­
ships, and corporations ______________ $623,049.83
Time deposits of individuals, partnerships,
and corporations _____________________ 2,013,784.34
State, county, and municipal deposits___ 434,996.83
United States Government and postal
savings deposits ________ :____________
59,493.87
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
30,740.15
Capital account:
Common stock _______________________
200,000.00
Surplus ___
100,000.00
Undivided profits ____________________
3,056.66

Total _______________________________ $3,465,121.68

Total ______________________________ $3,465,121.68

No. 688.
THE PEOPLES STATE BANK OF ALPENA, ALPENA.
Organized March 22, 1922.
R . P ie p k o r n , P r e s i d e n t ; E . W . L e a v it t , E x e c u t i v e V i c e P r e s i d e n t ; W . E . W i l l i a m s , V ic e
P r e s i d e n t ; C. M . E . L u n d q u is t , C a s h i e r ; K . W . S c h o o n , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— R . W . P ie p k o r n , W . E . W i ll ia m s , C. F . S t e e le , J r ., E . W . L e a v it t , C. M. E .
L u n d q u is t ,
H a lt in e r .

W.

H.

Sch oon .

J.

D.

B in g h a m ,

J.

F.

B erg,

R ob ert

R.

S cott,

R ob ert

T.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $367,988.04
Overdrafts _____________________________
4.95
United States Government obligations,
direct and guaranteed _______________
292,199.44
Other bonds, stocks, and securities
___ 772,240.51
37,374.34
Banking house _________________________
Furniture and fixtures _______________
8,293.45
Real estate owned other than banking
house ________________________________
9,253.51
Cash, balances with other banks, and
cash items in process of collection____
397,136.11
Other assets ____
9,409.78

Demand deposits of individuals, partner­
ships, and corporations_______________ $313,154.32
Time deposits of individuals, partnerships,
and corporations _____________________ 1,240,966.71
122,255.86
State, county, and municipal deposits .....
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
13,758.19
Capital account:
First preferred stock ________________
99,500.00
Second preferred stock _______________
25,000.00
Common stock ____ - __________________
50,000.00
Surplus ________________
500.00
Undivided profits ____________________
28,765.05

Total _______________________________ $1,893,900.13

T o t a l_______ _____ _________________ $1,893,900.13


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

48

No. 302.
THE FARM ERS STATE BANK OF ALTO, ALTO, M ICHIGAN.
Organized October 18, 1904.
E dson O ’H a r r o w , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; J o h n G. L iv in g s t o n , V i c e
P r e s i d e n t ; J oh n E . R o c k e f e l l o w , S e c o n d V ic e P r e s i d e n t ; E ar l V . Colby, C a sh ie r .
D ir e c t o r s .— E d s o n O ’H a r r o w , J o h n G . L i v i n g s t o n , E a r l V . C o lb y , J o h n E . R o c k e f e l lo w ,
N ic h o l a s P it s c li.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Reserve with Federal Reserve Bank-------Cash, balances with other banks, and
cash items in process of collection-----Other, assets ___________________________

Total _____________________ __________

$68,255.61
63,223.63
47,644.93
1,260.00
482.00
54,991.41
27,096.36
15.18

Demand deposits of individuals, partner­
ships, and corporations ---------------------Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits____
United States Government .and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities ______________
Capital account:
Common stock _____________________ —
Undivided profits ________ —— --------Total _______________________________

$262,969.12

$86,972.43
122,330.70
23,521.86
2,339.47
1,494.64
197.05
25,000.00
1,112.97
$262,969.12

No. 796.
ANN ARBOR SAYINGS & COMMERCIAL BANK, ANN ARBOR.
Organized February 14, 1936.
One Branch.
R . E . R e ic h e r t , P r e s i d e n t ; M . C. T a y l o r , E x e c u t i v e V i c e P r e s i d e n t ; W m . L . W a l z , R . F .

G a u s s , V ic e P r e s i d e n t s ; P . T . S t o w e , F i c e P r e s i d e n t a n d C a s h i e r ; C. A . M a u l b e t s c h ,
N o r m a n A . O t t m a r , G eo . J . G e is e l , B . E . F r y e r , R a l p h L u t z , J o h n R . M e a d o w s ,
A s s i s t a n t C a s h i e r s ; I. H. R e im e r , A u d i t o r .
D ir e c t o r s .— J o h n

A i r e y , H e n r y C. A n d e r s o n , J u n iu s E . B e a l, F r e d E . B e n z , G e o . J .
B u r k e , O . A . E b e r b a c h , J o h n C. F r i t z , A . C. F u r s t e n b e r g , L e w is M . G r a m , G e o . J . M o e ,

R . E . R e i c h e r t , S h ir le y W . S m it h , M . C. T a y lo r , W i ll ia m

L . W a lz .

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________________
Overdrafts ___
United States Government obligations,
direct and guaranteed_______________
Other bonds, stocks, and securities____
Banking house ________________________
Furniture and fixtures ________________
Reserve with Federal Reserve Bank____
Cash, balances with other banks, and
cash items in process of collection__
Other assets ________________

$5,340,439.92
854.78
4,427,874.00
2,157,533.31
237,514.25
58,964.45
1,180,101.23
2,575,624.64
1,444.98

Total ______________________________ $15,980,351.56


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, part­
nerships, and corporations ------------------$6,220,485.53
Time deposits of individuals, partner­
ships, and corporations _____________ 6,359,694.86
975,456.40
State, county, and municipal deposits__
United States Government and postal
savings deposits _____________________
383,653.39
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
820,974.78
Interest, taxes, and other expenses ac­
crued and unpaid ___________________
21,825.56
Capital account:
First preferred stock ________________
680,000.00
Common stock ______________________
150,000.00
Surplus _____________________________
351,000.00
Undivided profits ___________________
8,877.48
Reserves ________________
8,383.56
Total ______________________________ $15,980,351.56

STATE BANKS OF MICHIGAN

49

ANN ARBO R TRU ST COMPANY OF ANN ARBOR, M ICHIGAN.
Organized April 20, 1925.
L e w i s M. G u a m , P r e s i d e n t ; E a r l H. C r e s s , E x e c u t i v e V i c e P r e s i d e n t ; H o m e r L. H e a t h ,
S e c r e t a r y ; R u s s e l l P r y c e , A s s i s t a n t S e c r e t a r y ; J o h n C. F r i t z , T r e a s u r e r ; L ou is C.
A n d r e w s , A l b e r t J. P a r k e r , H a r r y E. F o s t e r , A s s i s t a n t V i c e P r e s i d e n t s ; L. A.
T appe, A s s is ta n t T r ea su rer .
D ir e c t o r s .— Lewis M. Gram, Earl H. Cress, Hom er L. Heath, George J. Burke, John C.

Fritz, Dr. A. C. Furstenberg, R. N. Frisinger, Roscoe Bonisteel.

Statement December 31, 1938.
ASSETS

l ia b il it ie s

Loans __________________________________ $124,900.70
Advances to trusts _____________________
9,641.16
2,574.82
Accounts receivable ____________________
United States Government obligations,
direct and fully guaranteed___________
21,839.25
Other bonds, stocks, and securities_____
7,972.96
Cash, and balances with designated de­
positaries—fiduciary funds ____________ 6,358,171.95
Cash, and balances with other deposi­
taries—company funds _______________
62,457.34
16,531.17
Banking house _________________________
Furniture and fixtures _________________
7,705.38
Accrued interest receivable _____________
1,638.56
Other assets ___________________________
544.56

Fiduciary funds ________________________ $6,358,171.95
Interest, taxes, and other expenses ac­
crued and unpaid ____________________
1,375.41
Special or valuation reserves ___________
4,093.13
Other liabilities ________________________
13,809.99
Capital account:
155,300.00
Common stock _______________________
Surplus ____________________________ —
27,650.00
Undivided profits ______________
53,577.37

Total _______________________________ $6,613,977.85

Total _______________________________ $6,613,977.85

No. 144.
STATE SAVINGS BAN K OF ANN ARBOR, ANN ARBOR.
Organized September 5, 1892.
D r . H. A. H a y n e s , P r e s i d e n t ; G e o . J. M a n n , R. A . B e a l , A lfre d F. S t a e b , V i c e P r e s i ­
d e n t s ; H. F. G r o s s , E x e c u t i v e V i c e P r e s i d e n t a n d C a s h i e r ; D. P. M c A u l i f f e , F. M.
C r a n d e l l , A. K . S c h m i d t , A s s i s t a n t C a s h i e r s ; R . S. N ie l s e n , T r u s t O fficer.
D ir e c t o r s .— Wm. Arnold, Jr., F. B. DeVine, John M. Feiner, H. F. Gross, Dr. H. A.

Haynes, Charles J. Hutzel, Paul A. Leidy, C. W. Lighthall, Geo. J. Mann, R. G. Rodkey,
Edw. W. Staebler, Chas. W. Wagner, A lfred G. Walker.

Statement December 31, 1938.
LIABILITIES

ASSETS

Demand deposits of individuals, partner­
Loans and discounts ------------------------------$3,214,087.18
ships, and corporations ---------------------- $2,140,314.71
Overdrafts _____________________________
1,891.50
Time deposits of individuals, partnerships,
United States Government obligations,
and corporations ____________________ _ 4,900,852.53
direct and guaranteed _______________ 1,515,100.00
State, county, and municipal deposits___
707,392.40
Other bonds, stocks, andsecurities______ 2,808,615.00
United States Government and postal
Customers’ liability to this bank on ac­
savings deposits ______________________
265,790.00
ceptances outstanding----- -------------------13,823.00
Deposits of other banks, certified and
Banking house ____________________
229,681.27
cashier’s checks, cash letters of credit
Furniture and fixtures --------------------------36,933.48
and travelers’ checks outstanding_________________ 628,391.64
Real estate owned other than banking
Acceptances executed by or for account
house ______________ ._____ _________ — 125,911.35
of this bank and outstanding_________
13,823.00
Reserve with Federal Reserve Bank--------------------------- 631,728.92
Dividends declared and u n p a id _________
17,529.18
Cash, balances with other banks, and
Trust deposits __________________________
125,420.83
cash items in process of collection---------------------------972,554.69
Capital
account:
Cash and due from banks—trust depart­
First preferred stock _________________
100,000.00
ment ________________________________
125,420.83
Common stock _______________________
400,000.00
Surplus ______________________________
250,000.00
•Undivided profits _____________________
96,232.93
Preferred stock retirement fund__________________ 30,000.00
Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$9,675,747.22

Total

$9,675,747.22

50

STATE BANKING D EPARTM ENT
No. 468.
THE AR M A D A STATE BANK, ARMADA.
Organized November 10, 1910.

W il l ia m

C. B o t t o m l e y , P r e s i d e n t ; O rv y I I u l e t t , A l l e n B. B o w e r , V i c e P r e s i d e n t s ;
J a m e s E. N e e l y , C a s h i e r ; C ar l A . P l a u m a n , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— W i ll ia m

C. B o t t o m l e y , O r v y H u le t t , E . E . R o g e r s , J a m e s E . N e e ly , A l l e n B .
B ow er.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $140,281.59
Overdrafts _____________ ____________ ____
160.85
United States Government obligations,
direct and guaranteed _______________ 130,100.00
Other bonds, stocks, and securities_____
162,010.00
Reserve with Federal Reserve Bank____
94,665.13
Cash, balances with other banks, and
cash items in process of collection__
83,971.92
Other assets __________________
3,079.85

Demand deposits of individuals, partner­
ships, and corporations ______________ $103,624.47
Time deposits of individuals, partnerships,
364,064.85
and corporations _____________________
State, county, and municipal deposits___
105,598.48
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
4,169.02
Capital account:
Common stock _______________________
25,000.00
Undivided profits _________ „ _________
11,812.52

Total _______________________________

$614,269.34

Total _____________ _________________

$614,269.34

No. 582.
THE F IR S T STATE BANK OF ASHLEY, ASHLEY.
Organized January 28, 1916.
A . G . A l d r id g e , P r e s i d e n t ; G eorge R e e b , V i c e P r e s i d e n t ; G . A . L e w i s , C a s h i e r ; D o r is

C h u r c h i l l , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— A . G . A l d r i d g e , G . A . L e w is , B . A . G e y e r . J . E . C a r r , G e o r g e R e e b .

Statement December 31, 1938.
ASSETS
Loans and discounts ___________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____

LIABILITIES
$59,585.22
47,800.00
61,709.53
5,500.00
1,366.00
50,216.79

Total ------------------------------------------------ $226,177.54


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits__
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding— __
Capital account:
Common stock _______________________
Undivided profits ____________________

$66,578.65
95,692.96
26,174.90
9,626.94
25,000.00
3,104.09

Total ------------------------------------------------ $226,177.54

STATE BANKS OF M ICHIGAN

51

No. 418.
THE PEOPLES STATE SAYINGS BANK, AUBURN.
Organized January 6, 1909.
F red E n d l in e , C h a i r m a n o f t h e B o a r d ; J a m e s B. S u l l iv a n , P r e s i d e n t ; I ra E. L o ose ,
V i c e P r e s i d e n t ; R ex A . S n id e r , C a s h i e r ; H arold C. T a g l a u e r , A s s ’ t. C a s h i e r
D ir e c t o r s .— Fred Endline, T. H. Hemingway, Ira E. Loose, James B. Sullivan, Rex A.

Snider.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts’ ___________________ $237,512.44
United States Government obligations,
direct and guaranteed _______________
29,943.76
Other bonds, stocks, and securities_____
350.00
1,800.00
Banking house ___ ______________________
Furniture and fixtures _________________
488.91
Cash, balances with other banks, and
cash items in process of collection____,
97,465.77
Cash items not in process of collection_
252.25

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities _______________________
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ____________________
Total _______________________________

$367,813.13

$49,719.83
237,751.77
30,015.15
3,217.46
6,256.87
25,000.00
14,000.00
1,852.05
$367,813.13

No. 522.
TH E AU GRES STATE BANK, AU GRES.
Organized December 4, 1912.
H arold C. N oggle , P r e s i d e n t ; E d w in W . S i m s , J r ., C h a r l e s II. J e n n in g s , J o h n C.
A d a m s , V i c e P r e s i d e n t s ; T h eo E. R e i c i i l e , C a s h ie r .
D ir e c t o r s .— Harold C. Noggle, Theo E. Reichle, Edwin W . Sims, Edwin W . Sims, Jr.,

Charles H. Jennings, Henry Selle, John C. Adams.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts ________
$122,858.40
Overdrafts _____________________________
140.45
United States Government obligations,
direct and guaranteed _______________
58,038.46
130,632.57
Other bonds, stocks, and securities_____
Banking house _________________________
4,000.00
Furniture and fix tu res__ ______________
1,500.00
Cash, balances with other banks, and
cash items in process of collection____
61,084.39
Other assets __
103.76

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$378,358.03

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations
__________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Preferred stock retirement fund_______
Total _______________________________

$85,856.77 211,351.19
36,413.31
630.60
20,000.00
20,000.00
500.00
3,106.16
500.00
$378,358.03

STATE BANKING D EPARTM ENT

52

No. 420.
THE STATE BANK OF AUGUSTA, AUGUSTA.
Organized February 8, 1909.
E . M . C a d w a l l a d e r , P r e s i d e n t ; E . L . H u r s l e y , V i c e P r e s i d e n t ; W m . G . H o rto n , C a s h i e r ;

G a il M c D o n a l d , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— E . L . H u r s le y , W m . G . H o r t o n , J . H . L o w e , F l o y d T e r p e n in g , E . M . C a d w a lla d e r , H . H . W e r t m a n , H o m e r V a n L u k e .

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________________ $267,898.12
Overdrafts _____________________________
712.32
United States Government obligations,
7,500.00
direct and guaranteed _______________
Other bonds, stocks, and securities_____
25,754.35
3,300.00
Banking house _________________________
Furniture and fixtures _________________
2,500.00
Real estate owned other than banking
house ________________________________
8,603.53
Cash, balances with other banks, and
cash items in process of collection____
59,160.05
60.00
Other assets ___________________________

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Dividends declared but not yet payable_
Other liabilities ________________________
Capital account:
First preferred stock _________________
Second preferred s t o c k ___ ,___________
Common stock _______________________
Surplus ______________________________
Undivided profits ____________________
Preferred stock retirement fund______
Total _______________________________

$375,488.37

$62,977.27
194,377.38
56,119.16
931.41
16,418.13
375.00
3,355.81
10,000.00
10,000.00
10,000.00
6,500.00
934.21
3,500.00
$375,488.37

No. 236.
H U B BARD STATE BANK, BAD A X E .
Organized June 30, 1901.
Branch Bank in Ubly, Michigan.
F r a n k W . H ub bar d , C h a i r m a n o f t h e B o a r d ; J o s e p h N. R a n k i n , P r e s i d e n t ; J a m e s L .
B u r g e s s , V ic e P r e s i d e n t ; O sc a r R o g e r s , V i c e P r e s i d e n t a n d C a s h i e r ; H . B. A le x a n d e r ,
A s s ’ t C a s h i e r ; J o s . R . H a r r is , A u d i t o r .
D ir e c t o r s .— F r a n k W . H u b b a r d , J o s e p h N . R a n k in , F . L a n g d o n H u b b a r d , J a m e s L . B u r ­
gess, O sca r R o g e rs, F . H . B row n .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $639,234.10
3.65
O v e rd ra fts ________ :___________________
United States Government obligations,
direct and guaranteed _______________
134,537.00
Other bonds, stocks, and securities_____
250,242.15
Banking house _________________________
19,480.00
Furniture and fixtures _________________
3,565.00
Cash, balances with other banks, and
cash items in process of collection____ 362,330.73

Demand deposits of individuals, partner­
$587,384.86
ships, and corporations _____
Time deposits of individuals, partnerships,
and corporations _______________
554,458.44
State, county, and municipal deposits___
115,829.09
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
8,987.92
Capital account:
First preferred stock _________________
2,600.00
Common stock _______________________
52,400.00
Surplus _____________________
45,000.00
Undivided profits ____________________
27,732.32
Reserve for contingencies ____________
15,000.00

Total _______________________________ $1,409,392.63

Total _______________________________ $1,409,392.63


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

53

STATE BANKS OF M ICHIGAN
No. 757.
LAK E COUNTY STATE BANK, BALDW IN .
Organized August 27, 1928.
C. W. M c P h a i l ,

R. J. S m i t h , V i c e P r e s i d e n t s H. J. H o l l is t e r ,
B radford , J. I. F o st e r , A s s i s t a n t C a s h ie r s .

P r e sid e n t;

C a sh ier;

A. L.

D ir e c t o r s .-— C. W. McPhail, R. J. Smith, H. J. Hollister, R. J. B radford, Ray Trucks.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $289,069.78
Overdrafts _____________________________
270.61
United States Government obligations,
direct and guaranteed _________ :_____
106,542.20
Other bonds, stocks, and securities_____
20,771.80
6,000.00
Banking house _______________________ {_
Furniture and fixtures _________________
3,000.00
Real estate owned other than banking
house __________________________ i_____
6,281.71
Cash, balances with other banks, and
cash items in processof collection_____
67,970.78

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ___________________________
Undivided profits ____________________
Total _______________________________

$499,906.88

$78,233.64
298,300.13
71,435.31
4,176.73
10,500.00
20,000.00
10,000.00
7,261.07
$499,906.88

No. 62.
THE W E ST M ICHIGAN SAYINGS BANK, BANGOR.
Organized January 12, 1881.
C h a r l e s E. C r o s s , P r e s i d e n t ; F r a n k A. B u r ge r , R ebecca F a u s n a u g h , V i c e P r e s i d e n t s ;
O r r in N. C r o s s , C a s h i e r ; E a r l J. L ov e la n d , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— W illiam L. Hamilton, Charles E. Cross, Rebecca Fausnaugh, Frank A. Burger,

H arry T. Bigelow, Orrin N. Cross, Harry L. Wieland, Herbert A. Wood.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $354,565.44
Overdrafts _____________________________
113.11
United States Government obligations,
direct and guaranteed _______________
268,600.00
Other bonds, stocks, and securities_____
254,664.48
Banking house _________________________
12,500.00
Furniture and fixtures _________________
500.00
Real estate owned other than banking
house ________________________________
24,437.36
Cash, balances with other banks, and
cash items in process of collection____
206,042.34
Other assets ___________________________
4,867.60

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $311,948.69
Time deposits of individuals, partnerships,
and corporations _____________________
626,361.42
State, county, and municipal deposits___
61,440.64
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10.00
Capital account:
First preferred stock _________________
20,000.00
Common stock _______________________
80,000.00
Surplus ______________________________
15,000.00
Undivided profits ____________________
6,529.58
Preferred stock retirement fund_______
5,000.00

Total _________________________ _____ $1,126,290.33

Total _______________________________ $1,126,290.33


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

54

STATE BANKING D EPARTM ENT
No. 458.
TH E B A R K R IV E R STATE BANK, B A R K RIV ER.
Organized August 13, 1910.

Jos. H. B o y l e ,

P r e s id e n tj

B e n j . E. D o u g l a s , V i c e P r e s i d e n t ; E. J. B e r g m a n ,
P. L. B e r g m a n , A s s i s t a n t C a s h ie r .

C a sh ier;

D ir e c t o r s .— Jos. H. Boyle, E. J. Bergman, Benj. E. Douglas, B. R. Erickson, Ole Harstad.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
$99,250.74
Overdrafts ______
12.80
United States Government obligations,
direct and guaranteed _______________
36,681.56
Other bonds, stocks, and securities____ 5,912.50
Banking house _________________________
1,000.00
Furniture and fixtures _________________
816.42
Real estate owned other than banking
8,873.55
house ________________________________
Cash, balances with other banks, and
cash items in process of collection____
47,540.70

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities ___________
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ____________________

Total ------------------------------------------------ $200,088.27

Total _______________________________

$36,419.63
120,419.84
10,350.72
1,092.13
170.00
20,000.00
10,200.00
1,435.95
$200,088.27

No. 394.
TH E BA RRYTO N STATE SAVINGS BANK, BARRYTON.
Organized March 9, 1908.
W . T. L a f l i n , P r e s i d e n t ; J acob O t t e r b e in , V i c e P r e s i d e n t ; W. W. W ood,, C a s h i e r ; A. J.
W ood , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— W. T. Laflin, J. E. Soper, Jesse W ood, Jacob Ofterbein, Clias. Cummings.

Statement December 31, 1938,
ASSETS

LIABILITIES

Loans and discounts ______________ _ .... $116,652.50
Overdrafts _____________________________
6.12
United States Government obligations,
direct and guaranteed_______________
35,515.01
Other bonds, stocks, and securities_____
34,871.09
Banking house
________________________
7,880.32
Furniture and fixtures ______
1,285.70
Real estate owned other than banking
house ___
2,354.27
Cash, balances with other banks, and
cash items in process of collection____
64,447.11

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Second preferred stock _______________
Common stock _______________________
Surplus ______________________________
Undivided profits ____________________
Reserve for contingencies ____________
Preferred stock retirement fund_____

Total ------------------------------------------------ $263,012.12

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$62,271.49
140,126.24
17,788.56
661.53
15,000.00
12,500.00
2,500.00
5,702.40
3,352.42
800.00
2,309.48
$263,012.12

55

STATE BANKS OF MICHIGAN
No. 768.
TH E LA K E V IE W STATE BANK OF BA TTLE CREEK, B A TTLE CREEK
Organized October 11, 1929.
J a m b s C l e a r y , P r e s i d e n t ; J o h n D . P i c h i t i n o , V i c e P r e s i d e n t a n d C a s h i e r ; E v e l y n S.
P ip e r , G ordon P r u d h a m , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— J a m e s C le a r y , J o h n D . P i c h i t i n o , M a r c u s F a r l e y , N o r m a n V . K r i t z n e r , B e n
G.

H o lt o m .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts -------------- <-------------- $766,323.74
Overdrafts _____________________________
79.47
United States Government obligations,
10,000.00
direct and guaranteed_________________
Other bonds, stocks, and securities____
68,255.00
Furniture and fixtures _________________
3,000.00
Real estate owned other than banking
house ________________________________
2,331.52
Cash, balances with other banks, and
cash items in process of collection____ 274,394.58

Demand deposits of individuals, partner­
ships, and corporations ______________ $380,969.23
Time deposits of individuals, partnerships,
and corporations ___
513,534.19
State, county, and municipal deposits___
81,486.36
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
23,666.53
Capital account:
Common stock _______________________
100,000.00
Surplus ______________________________
17,500.00
Undivided profits ____________________
2,228.00
5,000.00
Reserve for contingencies ____________

Total __________:_____________________ $1,124,384.31

Total _______________________________ $1,124,384.31

No. 63.
THE BAY CITY BANK, BAY CITY.
Organized September 4, 1871.
M e i s e l , P r e s i d e n t ; D . E ugene T o l f r e e , R a l p h W . P h i l l i p s , O tto B o r n ,
V ic e P r e s i d e n t s ; R a l p h W . P h i l l i p s , C a s h i e r ; R a l p h S. B a m f o r d , A s s i s t a n t C a s h i e r ;
T . W . Nonenpreger, A u d ito r .

L o u is

M.

D ir e c t o r s .-— M .

S e t h B a b c o c k , O t t o B o r n , L o u is M . M e is e l, R a lp h W . P h il li p s ,
P o w r ie , A . J. R e h m u s , E d w a r d C. S m it h , D . E u g e n e T o l f r e e , A . S. W illia m s .

S.

M.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $1,011,022.56
Overdrafts ________________
.77
United States Government obligations,
direct and guaranteed_______________
598,827.59
Other bonds, stocks, andsecurities______
513,265.20
Banking house _________________________
150,000.00
Furniture and fixtures ____________
12,067.81
Reserve with Federal Reserve Bank
241,994.48
Cash, balances with other banks, and
cash items in process ofcollection
458,653.65
Other assets ___________________________
641.57

Demand deposits of individuals, partner­
ships, and corporations _ ___________ $754,280.15
Time deposits of individuals, partnerships,
and corporations ______
1,090,982.76
State, county, andmunicipal deposits
479,688.03
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______ 298,571.58
Other liabilities ___
15,073.72
Capital account:
Common stock _______________________
300,000.00
Undivided profits ___
47,877.39

Total _______________________________ $2,986,473.63

Total _______________________________ $2,986,473.63


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM EN T

56

BAY TRU ST COMPANY, BAY CITY.
Organized February 1, 1932.
J a m e s E. D a v id s o n , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; C h a r l e s C o r y e l l , J . St a n l e y
S ee , E d w a r d C. D a v id s o n , V i c e P r e s i d e n t s ; P a u l T h o m p s o n , V i c e P r e s i d e n t a n d
C h a ir m a n o f t h e E x e c u t i v e C o m m i t t e e ; W a l t e r N. W r a p s , S e c r e t a r y - T r e a s u r e r ; D a n ie l
J. C o d y , T r u s t O fficer a n d A s s i s t a n t S e c r e t a r y - T r e a s u r e r ; E dw ar d W . B o w e n , T r u s t
O fficer.

D ir e c t o r s .-— J a m e s

E . D a v id s o n , J. S t a n le y S ee, J a m e s R . T a n n e r , W i ll ia m R . W e lls ,
E d w a r d C. D a v id s o n , W a l t e r N . W r a p e , M . S e th B a b c o c k , P a u l T h o m p s o n , C h a r le s
C o r y e ll, E d w a r d S. C la r k , J r ., F r a n k M c K i n l e y , H a r r y J . T i e r n e y , C h a r le s A . C o r y e ll,
C a rr o ll

W in d ia te ,

G uy

R.

M o u lth ro p ,

F ran k

E.

D e B o ld ,

O scar

M.

A n derson ,

P ie r s o n

K n e e la n d , C h a r le s J. L e v y .

Statement December 31, 1938.
ASSETS

LIABILITIES

Advances to trusts______________________ $127,340.54
Accounts receivable_,___________________
3,155.95
United States Government obligations,
direct and fully guaranteed_______________ 93,485.35
Other bonds, stocks, and securities______
123,661.36
Cash, and balances with designated de­
406,551.97
positaries—fiduciary funds ____________
Cash, and balances with other deposi­
taries—company funds _______________
3,398.99
8,984.25
Furniture and fixtures___________________
Accrued interest receivable_________ ___
267.60
Other assets____________________________
20,000.00
Total _______________________________

Fiduciary funds ------------Special or valuation reserves____________
Capital account:
Common stock _______________________
Surplus _______________ ______________
Undivided profits _____________________
Reserve for contingencies_____________

$406,551.97
6,685.95

Total ___________________ ___________

$786,846.01

$786,846.01

200,000.00
150,000.00
19,062.45
4,545.64

No. 30.
PEOPLES COM MERCIAL & SAVINGS BANK, BAY CITY.
Organized August 15, 1888.
One Branch.
J a m e s E . D a v id s o n , P r e s i d e n t ; G u y H . M o u l t h r o p , J a m e s R . T a n n e r , E d w a r d C.
D a v id s o n , C h a r l e s A . C o r y e l l , V i c e P r e s i d e n t s ; R a n d a ll E . G r a v e s , C a s h i e r ; F r a n k
J. P r o v o st , G. H . W a t r o u s , L e s l ie C. H a l e , A s s i s t a n t C a s h i e r s ; C h a r l e s A . S t r a c h a n ,
A u d ito r .

D ir e c t o r s .— G u y H . M o u l t h r o p , J . A . J o h n s o n , J a m e s E . D a v id s o n , J a m e s R . T a n n e r ,
G . A . T o m l in s o n , C h a r le s C o r y e ll, A . H . W e b e r , E d w a r d C. D a v id s o n , J o h n C. W e a d o c k ,
F r e d e r i c k D . J o h n s o n , W . N . W r a p e , C h a r le s A . C o r y e ll, G e o r g e B . J e n n is o n , F r a n k
E . D e B o ld , P ie r s o n K n e e la n d .

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________________
Overdrafts ______________________
United States Government obligations,
direct and guaranteed ______________
Other bonds, stocks, and securities____
Banking house ________________________
Furniture and fixtures ________________
Real estate owned other than banking
house _______________________________
Reserve with Federal Reserve Bank____
Cash, balances with other banks, and
cash items in process of collection___
Other assets __________________________

$1,349,048.43
733.86
5,942,179.64
1,664,041.10
157,542.53
18,013.24
42,116.23
1,237,302.79
1,194,373.51
1,229.82

Total ______________________________ $11,606,581.15


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations ______________ $2,466,853.40
Time deposits of individuals, partner­
ships, and corporations _____________ 6,398,853.23
State, county, and municipal deposits___
320,859.48
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
660,027.24
Other liabilities _______________________
165.12
Capital account:
First preferred stock ________________
500,000.00
Common stock ______________________
500,000.00
Surplus _____________________________
100,000.00
Undivided profits ___________________
159,822.68
Reserve for contingencies ___________
50,000.00
Preferred stock retirement fund____
450,000.00
Total ______________________________ $11,606,581.15

STATE BANKS OF M ICHIGAN

57

No. 798.
BAY PO RT STATE BANK, BA Y PORT.
Organized March 3, 1938.
J o h n H. F a h r n e r , P r e s i d e n t ;

J o h n J. G i l l in g h a m , V i c e P r e s i d e n t ; W ar r e n R. M c ­
I n tyre, C a sh ier.

D ir e c t o r s .— John H. Fahrner, L loyd T. Crane, Herman E. Henne, Frank J. Eisengruber,

Otto F. Schmidt, Robert N. W allace, John J. Gillingham, Warren R. M cIntyre.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $110,557.42
O verdrafts_________________________
85.57
United States Government obligations,
7,600.00
direct and guaranteed_________________
Other bonds, stocks, and securities_____
87,087.12
Banking house ________________
3,000.00
500.00
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____
53,119.15

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations________________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
Surplus ____________________

$261,949.26

$73,514.13
123,871.33
34,762.38
170.16
25,000.00
4,631.26

Total ------------------------------------------------ $261,949.26

No. 347.
B E LLA IR E STATE BANK, B E LLAIRE .
Organized August 18, 1906.
G. W. B e c h t o l d , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; J. E. R ic h a r d s , V i c e
H. H. B e c h t o l d , C a s h i e r ; B e r t h a G. S m i t h , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— G. W.

P r e s id e n t;

Bechtold, H. H. Bechtold, Maxi Bechtold, J. E. Richards, Louise
E. Richards.

Statement December 31, 1938.
ASSETS
Loans and discounts_____ ______________
United States Government obligations,
direct and guaranteed_________________
Other bonds, stocks, and securities_____ _
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$42,407.65
70,730.83
80,859.40
3,500.00
700.00
83,994.20

$282,192.08

Demand deposits of individuals, partner­
ships, and corporations________________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Reserve for contingencies_____________

$79,898.66
103,135.83
70,744.53
2,304.65
20,000.00
6,000.00
108.41

Total ____________________________ __ $282,192.08

STATE BANKING DEPARTM EN T

58

No. 527.
PEOPLES STATE BANK, BELLEVILLE.
Organized January 24, 1913.
F r a n k H . C l a r k , P r e s i d e n t a n d C a s h i e r ; G eorge W . M oore , V ic e P r e s i d e n t ; H e n r y K.
D e e r in g , C l a r a C. K r e b s , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .-— F r a n k

H . C la r k , E d w a r d D ic k s , J o h n
H.

R. J a n ie s , G e o r g e W . M o o r e , I r v i n g

R ig g s .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $258,796.25
United States Government obligations,
88,625.00
direct and guaranteed --------- -----------Other bonds, stocks, and securities_____
152,229.00
8,000.00
Banking house _________________________
Furniture and fixtures _________________
2,000.00
51,243.95
Reserve with Federal Reserve Bank____
Cash, balances with other banks, and
cash items in process of collection_____
152,563.98

Demand deposits of individuals, partner­
ships, and corporations________
$260,681.94
Time deposits of individuals, partnerships,
and corporations _____________________
380,880.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
3,796.24
and travelers’ checksoutstanding--------2,000.00
Other liabilities _____________
Capital account:
Common s to c k _________
40,000.00
25,000.00
Surplus ______________________________
Undivided profits _____________________
1,100.00

Total _______________________________

Total _______________________________

$713,458.18

$713,458.18

No. 548.
PEOPLES STATE BANK, BELLEVUE.
Organized April 16, 1914.
L . E . H a i g h t , C h a ir m a n o f t h e B o a r d .

J a m e s F . H a m il t o n , P r e s i d e n t ; V o l n e y J o h n s o n , V i c e P r e s i d e n t ; H . D . K n ic k e r b o c k e r ,
C a s h ie r .

D ir e c t o r s .— L . E . H a ig h t , J a m e s F . H a m il t o n , A r c h i e C o o k , N e w e ll B . H a m ilt o n , V o ln e y
J o h n s o n , K e n n e t h M u lv a n y , R . R . P o r t e r , J o h n R o b in s o n , F r a n c i s S h a r k e y , W. R .

Jones.
Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $110,710.12
Overdrafts _____________________________
3.55
United States Government obligations,
direct and guaranteed ________________
7,500.00
Other bonds, stocks and securities_______
76,309.65
Banking house _________________________
5,000.00
Furniture and fixtures__________________
3,349.94
Cash, balances with other banks, and
cash items in process of collection____
174,558.16
Cash items not in process of collection_
224.49
Other assets ___________________________
68.11
Total

______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$377.724.02

Demand deposits of individuals, partner­
ships, and corporations________________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus __________________
Undivided profits _____________________
Total

______________________________

$63,408.64
241,166.18
21,235.32
5,214.80
40,000.00
5,000.00
1,699.08
$377.724.02

STATE BANKS OF M ICHIGAN

59

No. 219.
BENTON H AR BO R STATE BANK, BENTON HARBOR.
Organized November 9, 1899.
C.

O. B r o w n ,

P r e s id e n t;

C. A. C onkeiy ,

V ic e

P r e s id e n t;

B r e w it z , A s s i s t a n t

D. M. R ü th ,

C a sh ier;

O. G.

C a s h ie r .

D ir e c t o r s .— C. A. Conkey, C. O. Brown, O. G. Brewitz, D. M. Ruth, L. F. Sutherland,

E. Leonard Smith, O. W. Dean, Thomas Lynch.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $391,399.31
Overdrafts _____________________________
41.72
United States Government obligations,
290,325.00
direct and guaranteed_________________
Other bonds, stocks, and securities_____ 920.278.03
Banking house _________________________
49,000.00
5,310.00
Furniture and fixtures ________
Cash, balances with other banks, and
cash items in process of collection____
477,342.67

Demand deposits of individuals, partner­
ships, and corporations____ ■
__________ $928,504.73
Time deposits of individuals, partnerships,
and corporations _____________________
792,172.77
State, county, and municipal deposits___
181,540.02
United States Government and postal
2,000.55
savings deposits ____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
38,516.23
Dividends declared but not yet payable.,
1,000.00
Capital account:
First preferred stock__________________
50,000.00
100,000.00
Common stock _______________________
Surplus ----------------------------------------------25,000.00
Undivided profits _____________________
12,462.43
Preferred stock retirement fund_______
2,500.00

Total ----------------------------------------------- $2,133,696.73

Total ------------------------------------------------$2,133,696.73

No. 416.
TH E B E RRIE N SPRINGS STATE BANK, B E R R IE N SPRINGS.
Organized October 21, 1908.
W m . II. S y l v e s t e r ,

G. L. V a l e n t in e , V i c e P r e s i d e n t
S h u l t z , A s s is t a n t C a sh ier.

P r e s id e n t;

and

C a sh ier;

W. F.

D ir e c t o r s .— Wm. H. Sylvester, James D. Boone, E. F. Garland, Geo. R. Dater, G. L.

Valentine, Guy F. Heim.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $120,188.09
Overdrafts _____________________________ ,
42.03
United States Government obligations,
direct and guaranteed_________________
123,223.05
Other bonds, stocks, and securities______
271,592.67
Banking house _________________________
8,750.00
Furniture and fixtures__________________
1,000.00
Real estate owned other than banking
house ________________________________
859.34
Reserve with Federal Reserve Bank_____
137,982.68
Cash, balances with other banks, and
cash items in process of collection____
216,134.73

Demand deposits of individuals, partner­
ships, and corporations___________ ____ $280,121.06
Time deposits of individuals, partnerships,
and corporations _____________________
441,866.66
State, county, and municipal d ep osits__
84,446.11
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,082.87
Capital account:
First preferred stock__________________
16,000.00
Common stock _______________________
20,000.00
Surplus ______________________________
20,000.00
Undivided profits _____________________
1,755.89
Reserve for contingencies_____________
9,000.00
Preferred stock retirement fund_______
1,500.00
Reserve for dividends payable in com­
mon s to c k __________________________
3,000.00

Total ------------------------------------------------ $879,772.59

Total ------------------------------------------------ $879,772.59


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM EN T

60

No. 536.
CENTRAL STATE BANK, BEULAH.
Organized August 18, 1913.
H.

B. W o od w a rd ,

P r e s i d e n t a n d C h a ir m a n

o f th e B o a r d ;

F. L. O r c u t t ,

V ic e P r e s id e n t ;

I r v in g P. J o n e s , C a s h ie r .
D ir e c t o r s .— I. P. Jones, L. A. Rockwell, A. E. Knight, B. Swanson, P. L. Orcutt, Wm.

G. W illard, H. B. Woodward.

Statement December 31, 1938.
LIABILITIES

ASSETS

Demand deposits of individuals, partner­
ships, and corporations-------------------- :—
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits------Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding---------Other liabilities ________________________
Capital account:
Common stock ____________________ —

Loans and discounts_____________________ $104,329.33
Overdrafts _______________
6-57
United States Government obligations,
direct and guaranteed_________________
32,500.00
Other bonds, stocks, and securities_____
64,730.00
Banking house ______________________ - —
4,800.00
Furniture and fixtures _________________
1,150.00
Cash, balances with other banks, and
cash items in process of collection___ _
81,621.95
Other assets ___________________________
4,581.62
Total

__ ___________________________

Total

$293,719.47

___________________ _ _________

$66,367.83
163,624.91
35,689.60
427.13
2,610.00
25,000.00
$293,719.47

No. 259.
BIG R A P ID S SAVINGS BANK, BIG RA PID S.
Organized March 18, 1902.
J. E. B urge lin ,

P r e s id e n t

P r e s id e n t;

and

C h a irm a n

J. L. L u n dberg ,

of

th e

B oard;

S ec o n d V ic e P r e s id e n t ;

K ent

H an chett, F ir st

P. N. F ord ,

V ic e

C a s h ie r .

D ir e c t o r s .— J. E. Bergelin, Kent Hanchett, F. N. Ford, Fred Garbow, Orrie L. Gilbert,

J. L. Lundberg, H. D. Acker.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $273,969.80
Overdrafts _____________________________
9.24
United States Government obligations,
56,785.68
direct and guaranteed_________________
Other bonds, stocks, and securities_____
10,600.00
Banking house _________________________
14,500.00
Reserve with Federal Reserve Bank_____
142,212.79
Cash, balances with other banks, and
cash items in process of collection____
89,558.09

Demand deposits of individuals, partner­
ships, and corporations________________ $171,269.88
Time deposits of individuals, partnerships,
and corporations _____________________
259,837.98
75,824.19
State, county, and municipal deposits___
United States Government and postal
savings deposits ---------------------------------2,523.85
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------4,343.75
Capital account:
Common stock ------------50,000.00
Surplus __________________________ ____
11,500.00
Undivided profits _____________________
12,335.95

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$587,635.60

Total _______________________________

$587,635.60

STATE BANKS OF MICHIGAN

61

No. 248.

CITIZENS STATE BANK, BIG RAPIDS.
Organized September 20, 1901.
Branch in Mecosta, Michigan.
H.

J.

W ard , P r e s i d e n t .; J o s e p h F it z p a t r i c k , G eorge A. W r i g h t , V i c e P r e s i d e n t s ;
W a l l a c e F. H e n r y , C a s h i e r ; S t a n l e y C. N e l s o n , P h i l i p L a V a n t d r e , A s s i s t a n t
C a s h ie r s .

D ir e c t o r s .-—Arthur J. Butler, Joseph Fitzpatrick, Charles E. Fairman, B. A. McGill,

Stanley C. Nelson, H. J. Ward, W allace F. Henry, George A. W right, John W addell,
J. R. Bennett, Dr. J. B. Campbell, Joseph S. Bauman, Dr. B. L. Franklin.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___ ________________ $323,197.92
Overdrafts _____________________________
354.27
United States Government obligations,
direct and guaranteed_________________
314,342.98
Other bonds, stocks, and securities ____
277,020.83
Banking house _____
14,500.00
Furniture and fixtures________ _________
6,068.96
Cash, balances with other banks, and
cash items in process of collection____
170,326.61

Demand deposits of individuals, partner­
ships, and corporations_______________ $238,563.14
Time deposits of individuals, partnerships,
and corporations _____________________
629,948.48
117,579.07
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,948.44
Capital account:
First preferred stock__________________
30,000.00
Common s to c k ________________________
75,000.00
Undivided p ro fits ___ __________________
10,272.44
Preferred stock retirement fund_______
2,500.00

Total ------------------------------------------------$1,105,811.57

Total ------------------------------------------------$1,105,811.57

NO. 505.
THE BIRCH RUN STATE BANK. BIRCH RUN.
Organized June 13, 1912.
C h a r l e s W o l o h a n , P r e s i d e n t ; W m . P. M c G regor , M il e s L. H a d s a l l , V i c e P r e s i d e n t s ;
H er b e r t W a l t e r , C a s h i e r ; F l o s s ie M. H a d sa l l , A s s i s t a n t C a s h ie r .
D ir e c t o r s . — Charles Wolohan, Miles L. Hadsall, W illiam P. McGregor, Alvin H . Totten,

W illiam M cIntosh, Herbert W alter.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed_________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection____

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$89,845.24
.39
42,309.42
55,548.84
9,700.00
2,850.00
62,546.00

$262,799.89

Demand deposits of individuals, partnerships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________ _
State, county, and municipal deposits__
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _________
Surplus _________________________________
Undivided profits _______________________
Total

$49,231.31
145,945.02
37,938.45
2,600.69
20,000.00
4,500.00
2,584.42

$262,799.89

STATE BANKING DEPARTMENT

62

No. 481.
THE BLANCHARD STATE BANK, BLANCHARD.
Organized April 4, 1911.
C a r l M. M a s o n , P r e s i d e n t ; H o m e r D e W

it t , V ic e P r e s i d e n t ;

C h e s t e r M c D o n a ld , C a s h ie r .

D ir e c t o r s .— Carl M. Mason, Homer DeW itt, Archie Poster, Don S. Uebele, Roy J. Renwick.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $133,249.51
United States Government obligations,
direct and guaranteed . ____
6,600.00
Other bonds, stocks, andsecurities______
19,716.13
3,500.00
Banking house _____________
Furniture and fixtures__________________
1,000.00
Cash, balances with other banks, includ­
ing reserve balances, and cash items in
process of collection __________________
55,984.29

Total _______________________________

$220,049.93

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Total _______________________________

$51,454.44
126,347.12
10,569.48
1,973.01
25,000.00
2,000.00
2,705.88
$220,049.93

No. 163.
THE BLISSFIELD STATE BANK, BLISSFIELD.
Organized April 25, 1893.
E. A. R e a m e r , C h a ir m a n o f t h e B o a r d .
K. B. G l a s e r , P r e s i d e n t ; G. A . H a t h a w a y , F red J. W i l t , V i c e P r e s i d e n t s ; H. F.
R o h r b a c k ., C a s h i e r ; D. E. H a h n , J. C. M a s o n , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— E. A. Beamer, C. A. Gilson, K. B. Glaser, L. B. Hall, G. A.

Hathaway,

J. G. Hill, Bert McCormick, W. E. Piter, H. F. Rohrback, Fred J. Wilt.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________ !______ $474,876.74
Overdrafts
___________________________
521.90
United States Government obligations,
direct and guaranteed ________________
185,222.73
Other bonds, stocks, and securities______
101,358.70
Banking h o u s e ________________________
29,000.00
Furniture and fixtures _________________
8,700.00
Real estate owned other than banking
house _______________________ :____ ___
18,950.00
Investments and other assets indirectly
representing banking house or other
real esta te________________ ____________
9,300.00
Reserve with Federal Reserve Bank_____
88,902.65
Cash, balances with other banks, and
cash items in process of collection____
143,900.03
Other assets_____________ 1_____ _________
684.93

Demand deposits of individuals, partner­
ships, and corporations________________ $187,791.14
Time deposits of individuals, partnerships,
and corporations _____________________
686,093.91
State, county, and municipal deposits___
45,839.36
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
2,932.62
Capital account:
First preferred stock _________________
37,500.00
Second preferred stock _______________
25,000.00
Common stock _______________________
25,000.00
Surplus ______________________________
37,500.00
Undivided profits _______ ______________
13,760.65

T o t a l _____________________ _________ $1,061,417.68

Total ______________ ,________________ $1,061,417.68


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKS OF MICHIGAN

63

No. 221.
THE JIPSON-CARTER STATE BANK, BLISSFIELD.
Organized January 29, 1900.
Branch at Riga, Michigan.
C h a r l e s E . H o w l a n d , C h a ir m a n o f t h e B o a r d .
C ora A. J ip s o n , P r e s i d e n t ; W. .T. B a u e r , V i c e P r e s i d e n t ; H arold A. C r a n e , C a s h i e r ;
O l in C. P if e r , A s s i s t a n t C a s h i e r ; A rn old H. H a s e n p f l u g , B r a n c h M a n a g e r .
D ir e c t o r s .— Cora A. Jipson, John J. W alper, John Ickler, Theodore G. Glaser, Hilon

E. Morrow, Jesse D. Moore, John W. Pence, Charles E. Howland.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ____________________ $404,666.49
Overdrafts _____________
138.91
United States Government obligations,
direct and guaranteed ________________
508,481.59
Other bonds, stocks, and securities____
366,858.14
13,000.00
Banking house ---------------------------Furniture and fixtures _______
3,400.00
Real estate owned other than banking
house --------------9,712.57
Cash, balances with other banks, and
cash items in process of collection____
277,256.03

Demand deposits of individuals, partner­
ships, and corporations________________ $198,613.92
Time deposits of individuals, partnerships,
1,116,922.52
and corporations _______
State, county, and municipal deposits___
62,471.89
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
4,956.11
Capital account:
First preferred stock__________________
50,000.00
Second preferred stock _______________
48,400.00
Common stock _______________________
50,000.00
Surplus ----------------------------------------------40,000.00
Undivided profits _____________________
12,149.29

T o t a l ----------- ------------------------------------ $1,583,513.73

Total ------------------------------------------------ $1,583,513.73

No. 516.

THE PEOPLES STATE BANK OF BLOOMINGDALE, MICHIGAN.
Organized July 9, 1912.
W . R. \\ l c k e t T j P r e s i d e n t ; E. A . H a v e n , V i c e P r e s i d e n t ; A . B. W ig g i n s , C a s h i e r j H . L.
R e y n o l d s , E na S im o n , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— A rthur B. Wiggins, E. A. Haven, W. R. W ickett, George Fritz, Roy W ood-

house.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $104,105.60
United States Government obligations,
direct and guaranteed ________________
114,005.50
Other bonds, stocks, and securities..___
14,000.00
Banking house _________________________
4,000.00
Furniture and fixtures _________________
2,857.00
Cash, balances with other banks, and
cash items in process of collection____
127,714.76
Other a ssets____ __ :____________________
304.24

Demand deposits of individuals, partner­
ships, and corporations_______________ $144,171.53
Time deposits of individuals, partnerships,
and corporations _____________________
164,522.41
State, county, and municipal deposits___
24,960.81
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ___
1,104.58
Capital account:
Common stock _______________________
25,000.00
Surplus ----------------------------------------------5,000.00
Undivided profits ______
1,507.48
Reserve for contingencies_____________
720.29

Total --------------------------------------- -------- $366,987.10

Total ------------------------------- ---------------- $366,987.10


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTMENT

64

No. 436.
THE FARMERS STATE BANK OF BRECKENRIDGE, MICHIGAN.
Organized April 21, 1909.
A lex

C h i s h o l m , P r e s i d e n t ; R a l p h C. C h i s h o l m , F r a n k O b e r s t , V i c e P r e s i d e n t s ;
R o bert L . B a l d w in , C a s h i e r ; M il f o r d M. C ord ray , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— Alex

Chisholm,

Robert L. Baldwin, Ralph
W illiam McKenzie.

C.

Chisholm,

Frank

Oberst,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ — $154,645.47
Overdrafts _____________________________
3.09
United States Government obligations,
direct and guaranteed________________
162,082.34
Other bonds, stocks, and securities-----121,537.50
Banking house _________________________
9,000.00
Furniture and fixtures _________________
1,000.00
Cash, balances with other banks, and
cash items in process of collection____
135,158.91

Demand deposits of individuals, partner­
ships, and corporations_______________ $140,970.78
Time deposits of individuals, partnerships,
and corporations _____________________
321,639.38
63,771.43
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
2,797.41
Capital account:
Common stock ----- ------------------------------40,000.00
8,000.00
Surplus _____________________________ —
Undivided p ro fits --------- ----------------------2,705.69
Reserve for contingencies_____________
3,542.62

Total ___________________________ ,___

$583,427.31

Total _______ :_______________________

$583,427.31

No. 640.
THE BRIDGEWATER SAYINGS BANK, BRIDGEWATER.
Organized May 7, 1919.
F red B l d m iia r d t , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; O t t o S c h a ib l e ., C h a r l e s G.
B a u e r , V i c e P r e s i d e n t s ; T heodore O. S t i m s o n , C a s h i e r ; H arold B e r su d e r , A s s i s t a n t
C a s h ie r .

D ir e c t o r s .— Charles G. Bauer, Jacob F. Bauer, Wm. Schumacher, Wm. Kuebler, Otto

Schaible, Jacob Renz, Luther C. Klager.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts--------------------------------Overdrafts ___________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities____
Banking house _________________________
Furniture and fixtures 1________________
Cash, balances with other banks, and
cash items in process of collection____

$44,435.05
448.64

Total _______________________________

$147,283.95


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

17,400.00
34,097.85
4,500.00
1.00
46,401.41

Demand deposits of individuals, partner­
ships, and corporations________________
Time deposits of individuals, partnerships,
and corporations _____
State, county, and municipal deposits----Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
First preferred stock _________
Common s to c k __________ *------------------Undivided p ro fits -----------Reserve for contingencies_____________
Total _______________________________

$33,279.23
66,573.92
4,142.24
2,416.36
15,000.00
25,000.00
746.36
125.84
$147,283.95

65

STATE BANKS OF MICHIGAN
No. 776.
THE STATE SAVINGS RANK, BRIDGMAN.
Organized April 28, 1931.
S t a n l e y R. B a n y o n , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; G u s t a v A. Z i c k , G u s t a v H.
K n a a k , V i c e P r e s i d e n t s ; R. D. J e n n in g s , C a s h ie r .

D ir e c t o r s .— S. R. Banyon, R. M. Boothby, E. T. Drier, G. A. Zick, T. F. Gore, R. D.

Jennings, G. H. Knaak, Jr.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------- $115,688.43
United States Government obligations,
direct and guaranteed________________
53,685.94
Other bonds, stocks, and securities_____
118,056.54
Banking house --------------------------------------6,286.87
Furniture and fixtures _________________
2,213.13
Cash, balances with other banks, and
cash items in process of collection----85,416.34
Other assets ___________________________
187.39

Demand deposits of individuals, partner­
ships, and corporations----------------------- $105,968.24
Time deposits of individuals, partnerships,
and corporations _____________________
179,399.77
43,844.62
State, county, and municipal deposits----United States Government and postal
savings deposits ---------------------------------553.83
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------994.02
Capital account:
Common stock _______________________
20,000.00
Surplus ______________________________
15,600.00
Undivided profits --------------------------------10,174.16
Reserve for contingencies ____________
5,000.00

Total ____________________________ __ $381,534.64

Total _______________________________

$381,534.64

No. 452.
BRIGHTON STATE BANK. BRIGHTON.
Organized April 6, 1910.
E. R. H y n k , P r e s i d e n t ; A. L. S m i t h , V i c e P r e s i d e n t ; R. O. N e w c o m b , C a s h ie r .
D ir e c t o r s .— A.

L. Smith, R. O. Newcomb, E. R. Hyne, D. W. Van
Schoenhais, H. P. Melius, J. A. Brady, C. A. Newman.

Winkle, Oscar

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed
______________
Other bonds, stocks, andsecurities-----------Banking house _________________________
Furniture and fixtures ______________ —
Cash, balances with other banks, and
cash items in process of collection_____
Other assets ____________________________

54,872.87
163,020.72
6,700,00
900.00

Total __________ _____________________

$447,969.23


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$31,544.45
17.42

190,342.52
571.25

Demand deposits of individuals, partner­
ships, and corporations ______________ $162,631.93
Time deposits of individuals, partnerships,
and corporations _____________________
222,229.67
State, county, and municipal deposits___
32,830.28
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
2,125.83
Capital account:
Common stock _____________________
20,000.00
Surplus ______________________________
5,000.00
Undivided profits _____________________
3,151.52
T o t a l _______ _______________________

$447,969.23

66

STATE BANKING DEPARTMENT
No. 409.
PEOPLES STATE BANK OF BRONSON, BRONSON.
Organized May 1, 1908.

A. D. H u n s i c k e r , P r e s i d e n t ; G uy W . M o nroe , R. W . C u t l e r , V i c e P r e s i d e n t s ; G erald
N. P e a r c e , C a s h ie r .
D ir e c t o r s .— A.

D. Hunsicker, Guy W. Monroe, H. C. Bowker, B. P. Taggart, H. A.
Douglas, C. A. Mallow, V. V. Tefft, C. H. Powley, L. P. Hansen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________ ______ $173,353.67
United States Government obligations,
direct and guaranteed _______________
16,800.00
Other bonds, stocks, and securities_____
139,200.50
Banking house _________________________
5,760.00
Furniture and fixtures _________________
1,280.00
Real estate owned other than banking
house ________
6,702.09
Reserve with Federal Reserve Bank____
43,403.77
Cash, balances with other banks, and
cash items in process of collection____
131,475.22
Cash items not in process of collection
2.57
Other assets__________
2,581.55

Demand deposits of individuals, partner­
ships, and corporations_______________ $222,916.47
Time deposits of individuals, partnerships,
and corporations _____________________
189,512.69
State, county, and municipal deposits___
38,067.98
United States Government and postal
savings deposits ______________________
1,602.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
369.26
Capital account:
Common stock _______________________
50,000.00
14,000.00
Surplus _____________________________ _
Undivided profits ______________ ,_:____
1,577.48
Reserve for contingencies ____________
2,513.49

Total _______________________________

$520,559.37

Total _______________________________

$520,559.37

No. 312.
BROOKLYN STATE BANK, BROOKLYN.
Organized May 16, 1905.
B ernard A. A y e r s , P r e s i d e n t ; J e r ry W. P ie r c e , V i c e P r e s i d e n t ; C. R. W a t t s , 2 n d V i c e
P r e s i d e n t ; L . F. D e r m y r e , C a s h i e r .
D ir e c t o r s .— D. J. Boyce, C. R. W atts, J. W. Pierce, Bernard A. Ayers, W. J. Crego.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $178,585.54
Overdrafts _____________________________
12.49
United States Government obligations,
direct and guaranteed _________ t_____
134,168.75
Other bonds, stocks, and securities____
63,521.08
Banking house _________ _______ ; _______
4,500.00
Furniture and fixtures _________________
1,700.00
Real estate owned other than banking
house ________________________________
4,656.68
Cash, balances with other banks, and
97,915.41
cash items in process of collection____

Demand deposits of individuals, partner­
ships, and corporations ______________ $101,790.26
Time deposits of individuals, partnerships,
and corporations _______________
263,516.98
State, county, and municipal deposits___
49,283.39
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,697.60
Capital account:
Common stock _______________________
30,000.00
Surplus ______________________________
30,000.00
Undivided profits _____________________
1,528.32
Reserve for contingencies_____________
7,243.40

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$485,059.95

Total _______________________________

$485,059.95

STATE BANKS OF MICHIGAN

67

No. 216.
BROWN CITY SAYINGS BANK, BROWN CITY.
Organized May 26, 1899.
M. L. B u r k h o l d e r ,
V ic e

P r e s id e n t

P r e s id e n t;

and

A c tin g

C h a ir m a n

E zra W. P e p p e r , C a s h i e r ;

of

th e

B oard;

M. M. S c a n l a n ,

C. E. S c h o e n h a l s ,

A ssista n t

C a s h ie r .

D ir e c t o r s .— M. L. Burkholder, Ezra W. Pepper, D. A. McKeith, Hugh W. Glover, C. E.

Schoenhals.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $123,382.35
Overdrafts _____________________________
201.21
United States Government obligations,
direct and guaranteed _______________
126,611.49
Other bonds, stocks, and securities_____
33,288.91
Banking house _________________________
5,850.00
Furniture and fixtures__________________
900.00
82,196.79
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
49,685.84
Cash items not in process of collection__
61.63

Demand deposits of individuals, partner­
ships, and corporations__________
$150,589.50
Time deposits of individuals, partnerships,
and corporations ______________
204,114.08
State, county, and municipal deposits___
38,092.28
United States Government and postal
savings deposits ______________________
311.51
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10.40
Capital account:
Common stock _______________________
25,000.00
4,060.45
Undivided profits ___________ :________

Total ------------------------------------------------ $422,178.22

Total ------------------------------------------------ $422,178.22

No. 686.
UNION STATE BANK, BUCHANAN.
Organized October 14, 1921.
Branch in Galien, Michigan
C h a r l e s A . C l a r k , C h a ir m a n o f t h e B o a r d ; D r . S t a n l e y A . C l a r k , P r e s i d e n t ; D. W .
E w in g , V i c e P r e s i d e n t a n d C a s h i e r ; P. L. K a r l in g , H. L. C a l b e t z o r , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .-— Charles A. Clark, Oliver A. Van Pelt, Ray E. Babcock, Dr. Stanley A. Clark,

D.

W. Ewing, Ralph Allen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_______________
$458,489.21
United States Government obligations,
direct and guaranteed________________
85,200.00
Other bonds, stocks, and securities_____
163,221.60
Banking house _________________________
13,174.54
Furniture and fixtures _________________
7,339.91
Real estate owned other than banking
house ________________________________
3,213.84
Cash, balances with other banks, and
cash items in process of collection____
233,216.61
Other assets__________________ _________
3,584.76

Demand deposits of individuals, partner­
ships, and corporations________________ $298,366.74
Time deposits of individuals, partnerships,
and corporations —=___________________
396,604.28
State, county, and municipal deposits___
137,425.82
United States Government and postal
savings deposits ______________________
24,890.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
5,007.50
Other liabilities ________________________
3,023.82
Capital account:
First preferred stock ____________
20,000.00
Common stock _______________________
55,000.00
Surplus ______________________________
20,000.00
Undivided profits _____________________
6,122.31
Preferred stock retirement fund_____
1,000.00

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$967,440.47

Total _______________________________

$967,440.47

STATE BANKING DEPARTMENT

68

No. 673.
THE BYRON CENTER STATE BANK, BYRON CENTER.
Organized October 27, 1920.
S ie r i ) A n d r in g a , P r e s i d e n t ; D a n ie l

B u r g e ss , V i c e P r e s i d e n t ; C l ar en c e V an

S t r ie n ,

C a sh ier.

D ir e c t o r s .— Sierd Andringa, Dick

Andringa, Paul J. France, Daniel Burgess, Lee L.
Marshall.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts______________________ $67,619.66
Overdrafts _____________________________
4.77
United States Government obligations,
direct and guaranteed _________
21,121.88
Other bonds, stocks, andsecurities______
39,865.06
2,194.86
Banking house _________________________
Furniture and fixtures _________________
1,000.00
Cash, balances with other banks, and
cash items in process of collection
163,303.45

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________
Total _______________________________

$295,109.68

$64,996.48
165,754.36
31,337.12
327.32
1,130.57
25,000.00
5,500.00
1,063.83
$295,109.68

No. 181.
THE CADILLAC STATE BANK, CADILLAC.
Organized September 30, 1895.
Branch in Mesick, Michigan.
F red S. L a m b , P r e s i d e n t ; M ar t L. W i l l i a m s , V i c e P r e s i d e n t ; J. J. V e l d m a n , C a s h i e r ;
W. C. N o r d e ll , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— H. C. Harris, James Johnston, Fred S. Lamb, W. J. Murphy, H. C. Schoff,

*

J. J. Veldman, M. L. Williams.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts
__ _________
__ $753,590.29
United States Government obligations,
direct and guaranteed ________________
249,671.57
Other bonds, stocks, and securities____
414,787.24
Banking house _________________________
11,500.00
Furniture and fixtures
_______
6,000.00
Cash, balances with other banks, and
cash items in process of collection____
393,031.57
Other assets ___________________________
3,800.00

Demand deposits of individuals, partner­
ships, and corporations_______________ $573,797.25
Time deposits of individuals, partnerships,
and,corporations _____________________
868,080.08
State, county, and municipal deposits___
190,981.22
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding_____
33,472.42
Other liabilities
____________________
3,800.00
Capital account:
Common stock _______________________
102,000.00
Surplus ______________________________
53,000.00
Undivided profits _________ :__________ _
2,675.70
Reserve for contingencies_____________
2,500.00
Reserve for dividends payable in com­
mon stock __________________________
2,074.00

Total _______________________________ $1,832,380.67

Total _______________________________ $1,832,380.67


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

69

STATE BANKS OF MICHIGAN
No. 291.
THE STATE BANK OF CALEDONIA, CALEDONIA, M ICHIGAN.
Organized June 11, 1904.
G. D. H o u g h t o n , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; A l b e r t M il l e r , V i c e
R ay S. M c G o w a n , C a s h i e r ; A l b e r t H . P a r k e r , A s s i s t a n t C a s h ie r .

P r e s id e n t;

D ir e c t o r s .— G. D. Houghton, Joseph Gless, Benjamin Glick, Albert Miller, C. F. Beeler,

Leon T. Anderson.

Statement December 81, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ $193,763.47
Overdrafts ______________________________
31.27
United States Government obligations,
direct and guaranteed _______________
101,125.00
Other bonds, stocks, and securities_____
24,493.75
Furniture and fixtures _________________
1,000.00
Cash, balances with other banks, and
cash items in process of collection____
103,316.20

Total _______________________________

$423,729.69

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ___ ._________________
State, county, and municipal deposits----United States Government and postal
savings deposits ___________ ___________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Other liabilities ______________ j.------------Capital account:
Common stock _______________________
Surplus _____________________________ _
Undivided profits _____________________
Total _______________________________

$59,312.59
288,691.56
22,644.21
401.00
978.14
3.00
40,000.00
10,000.00
1,699.19
$423,729.69

No. 87.
THE MERCHANTS & MINERS BANK, CALUMET.
Organized August 7, 1873.
Branch in Laurium, Michigan
W a l t e r E d w a r d s , M a n a g e r ; O sc a r E. H o l m s t r o m , A s s i s t a n t M a n a g e r .
G ordon R. C a m p b e l l , C h a i r m a n o f t h e B o a r d .
P r a n k J. K o h l h a a s , P r e s i d e n t ; W . G. C uD Lir, E x e c u t i v e V i c e P r e s i d e n t a n d T r u s t O f f i c e r ;
N o r m a n M a c do n a ld , V i c e P r e s i d e n t ; E. H. M an ge r , T r u s t O fficer a n d V i c e P r e s i d e n t ;
E dgar J o h n s o n , C a s h i e r ; W a l t e r E d w a r d s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Gordon R. Campbell, Frank J. Kohlhaas, Herman Haas, Norman Macdonald,

W illiam H. Thielman, W. George Cudlip, Harry E. King, Rudolph J. Vertin.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $274,477.81
Overdrafts __________________
49.51
United States Government obligations,
direct and guaranteed ________________ 2,684,294.88
Other bonds, stocks, and securities_____
81,081.43
Banking house ____________
50,000.00
Furniture and fixtures _________________
6,550.00
Cash, balances with other banks, and
cash items in process of collection____
768,099.94
Other assets ____________________________
1,660.00

Demand deposits of individuals, partner­
ships, and corporations________________ $1,105,262.56
Time deposits of individuals, partnerships,
and corporations _____________________ 2,064,863.70
State, county, and municipal deposits___
130,201.07
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,184.93
Other liabilities _______________________
2,235.00
Capital account:
Common stock _______________________
300,000.00
Surplus ______________________________
125,000.00
Undivided profits _________________ _—
132,466.31

Total

__________________ ___________ $3,866,213.57


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total

__________________ ___________ $3,866,213.57

70

STATE BANKING DEPARTMENT
No. 320.
THE FIRST STATE BANK OF CAMDEN, CAMDEN.
Organized August 24, 1905.
B.

B. A l w a r d ,

P r e s id e n t an d

C h a ir m a n

o f th e

Z. M. S w i f t ,

B oa rd ;

J a m e s A. B a t e s , V i c e P r e s i d e n t ;

C a sh ier.

D ir e c t o r s .— B. R. Alward, James A. Bates, Z. M. Swift, B. S. Alward, Kay Rice.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $117,117.00
United States Government obligations,
direct and guaranteed _______________
32,600.00
31,076.28
Other bonds, stocks, andsecurities______
Banking house _________________________
1,995.35
Furniture and fixtures _________________
1,274.40
Cash, balances with other banks, and
cash items in process of collection_____
113,501.67

T o t a l _____ _________________________

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____ _
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________

$297,564.70

Total _______________________________

$64,651.59
182,108.36
19,773.23
1,102.12
358.27
25,000.00
2,500.00
2,071.13
$297,564.70

No. 208.
CAPAC STATE SAYINGS BANK, CAPAC.
Organized June 5, 1898.
H e r b e r t C. S ie g e l , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; A l b e r t T o s c h , O. A . P r e y ,
V i c e P r e s i d e n t s ; W. C. S ie g e l , C a s h i e r ; N o r m a n H. B r e n n a n , S m i t h P o w e r s , A s s is ta n t C a sh iers.

D ir e c t o r s .— Herbert C. Siegel, O. A. Prey, Geo. C. W atson, Elmer Lang, Norman H.

Brennan, Almon B. Wade, William

C. Siegel, Albert Tosch.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $265.333.31
Overdrafts _____________________________
25.98
United States Government obligations,
direct and guaranteed ________________
90,906.53
Other bonds, stocks, and securities_____
97,778.99
Banking house _________________________
3,000.00
Furniture and fix tu res________________
750.00
Reserve with Federal Reserve Bank_____
109,014.05
Cash, balances with other banks, and
cash items in process of collection____
116,533.05

Demand deposits of individuals, partner­
ships, and corporations_______________ $164,875.61
Time deposits of individuals, partnerships,
and corporations _____________________
403,279.34
State, county, and municipal deposits___
58,280.79
United States Government and postal
savings deposits ______________________
703.55
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,612.94
Interest, taxes, and other expenses ac­
crued and unpaid ____________________
1,165.48
Capital account:
First preferred stock _________________
10,000.00
Common stock _______________________
25,000.00
Surplus _______ ,______________________
5,250.00
Undivided profits __________________
6,546.28
Reserve for contingencies ____________
1,627.92
Preferred stock retirement fund_______
1,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$683,341.91

Total _______________________________

$683,341.91

STATE BANKS OF MICHIGAN

71

No. 303.
STATE SAVINGS BANK OF CARLETON, CARLETON.
Organized December 1, 1904.
E d w in C. M a x w e l l , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; E d w a r d F. K a h l b a u m , V i c e P r e s i d e n t ; S pe n c e r O. R e e v e s , S e c o n d V i c e P r e s i d e n t ; H a r r y S. G e r m a n , C a s h i e r ;
R u t h E. O h l e m a c h e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Edwin C. Maxwell, Edward F. Kahlbaum, Ralph A. Lucke, Spencer O. Reeves,

Chris H. Reiser, Wm. H. Wager.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $135,762.80
United States Government obligations,
direct and guaranteed _______________
42,500.00
Other bonds, stocks, andsecurities______
45,622.50
Banking house _______
4,000.00
1,000.00
Furniture and fixtu res________________
Cash, balances with other banks, and
cash items in process of collection_____
60,707.01

Total _______________________________

$289,592.31

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Dividends declared but not yetpayable
Other liabilities ________________________
Capital account:
Common stock _______________________
Surplus ______ ._______________________
Undivided profits _____________________
Total __________ ____________________

$91,010.40
165,322.33
1,505.41
1,000.00
2.80
25,000.00
5,000.00
751.37
$289,592.31

NO. 525.
THE PEOPLES STATE BANK OF CARO, MICHIGAN.
Organized November 31, 1932.
S a m u e l R. P a r k , P r e s i d e n t ; A l b e r t O. P u r dy , C a r l S ie l a n d , V i c e P r e s i d e n t s ;
S m i t h , C a s h i e r ; C e c il W h i t e , A s s i s t a n t C a s h ie r .

M. R.

D ir e c t o r s .— Albert O. Purdy, Carl Sieland, Samuel R. Park, Robert Park, Jr., Howard

H. Purdy, Samuel Robinson, A lfred J. Purdy.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ $217,796.70
United States Government obligations,
direct and guaranteed________________
473,445.81
Other bonds, stocks, and securities_____
184,650.22
Banking house _________________________
10,500.00
Cash, balances with other banks, and
cash items in process of collection____
314,690.08

Demand deposits of individuals, partner­
ships, and corporations_______________ $254,560.22
Time deposits of individuals, partnerships,
and corporations _____________________
687,824.51
State, county, and municipal deposits __ 107,370.99
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
136.65
Dividends declared but not yet paid_____
1,260.00
Capital account:
Common stock _______________________
40,000.00
Surplus ______________ _______________
40,000.00
Undivided profits _____________________
17,491.92
Reserve for contingencies ____________
52,438.52

Total _______________________________ $1,201,082.81

Total _______________________________ $1,201,082.81


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

72

STATE BANKING DEPARTMENT
No. 286.
THE STATE SAVINGS BANK OF CARO, MICHIGAN.
Organized April 27, 1904.
Branch in Fairgrove, Michigan.
H er ber t P. O r r , P r e s i d e n t ; C l a r e n c e R. M y e r s , E x e c u t i v e V i c e P r e s i d e n t ; R. L. D ix o n ,
A. D. G a l l e r y , V i c e P r e s i d e n t s ; F . B. C a m p b e l l , C a s h i e r ; C. A. P a l m e r , A s s i s t a n t
C a s h i e r ; W il l i a m G. H u r l e y , B r a n c h M a n a g e r .

D ir e c t o r s .— R. L. Dixon, A. D. Gallery, J. E. Handy, L. R. Stewart, Clarence R. Myers,

H. P. Orr, Carl Palmer.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $335,303.83
Overdrafts _____________________________
141.67
United States Government obligations,
95,699.57
direct and guaranteed ________________
Other bonds, stocks, andsecurities______
45,724.23
Banking house _________________________
20,000.00
Furniture and fixtures _________________
15,000.00
Real estate owned other than banking
house ________________________________
13,469.35
Cash, balances with other banks, and
cash items in process of collection_____
236,363.37

Demand deposits of individuals, partner­
ships, and corporations _______________ $171,380.24
Time deposits of individuals, partnerships,
and corporations _____________________
377,389.53
State, county, and municipal deposits___
105,862.79
United States Government and postal
savings deposits ______________________
1,582.39
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------215.60
Capital account:
First preferred stock _________________
50,000.00
Common stock _______________________
50,000.00
Undivided profits -------------------------------5,271.47

Total _______________________________

Total _______________________________

$761,702.02

$761,702.02

NO. 72.
THE STATE BANK OF CARSON CITY, CARSON CITY.
Organized February 14, 1887.
I ra C u m m i n g s , P r e s i d e n t ; E. D. L y o n , B. E. S o m e r s , V i c e P r e s i d e n t s ; C la r e H ar de n ,
C a sh ier.

D ir e c t o r s .— Ira Cummings, G. K. Daniels, B. E. Somers, E. D. Lyon, Bernard Miller,

Roy E. Warner, Clare Harden.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ------------------------------- $152,326.72
United States Government obligations,
direct and guaranteed--------- ---------------82,442.25
Other bonds, stocks, andsecurities_______
225,730.84
Banking h ou se----------------------------------------12,000.00
Furniture and fixtures---------------------------4,500.00
Cash, balances with other banks, and
cash items in process of collection_____
99,940.23

Demand deposits of individuals, partner­
ships, and corporations_______________ $121,647.31
Time deposits of individuals, partnerships,
and corporations _____________________
309,271.60
State, county, and municipal deposits___
79,085.87
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------2,774.24
Capital account:
Common s to c k ________________________
35,000.00
Surplus -----------------------------------------------16,000.00
Undivided profits --------------------------------3,161.02
Reserve for contingencies_____________
10,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$576,940.04

Total _______________________________

$576,940.04

73

STATE BANKS OF M ICHIGAN
No. 234.
EXCHANGE STATE BANK, CARSONVILLE.

Organized June 18, 1901.
H o w a r d F. O ’C o n n o r , P r e s i d e n t ; G eorge M. D w e l l e y , V i c e P r e s i d e n t ; F. C. C r o re y ,
C a s h i e r ; E lea n o r R i c h , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— H oward

F. O’ Connor, George M. Dwelley, James Greenan,
Backus, John Cleland, George Massman, Archie Thomson.

Thomas

H.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts____________ ______ — $111,286.30
------------------------------------------34.44
Overdrafts
United States Government obligations,
direct and guaranteed ------------------------47,499.64
Other bonds, stocks, andsecurities ______
67,348.27
Banking house _________________________
2,750.00
126.00
Furniture and fixtures----------- .---------------Cash, balances with other banks, and cash
items in process of collection ________
67,374.23

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations __________
State, county, and municipal deposits___
United States Government and Postal
Savings deposits________
Capital account:
Common s to c k ________________________
Undivided profits _____________________
Reserve for contingencies __________ ,_
Total _______________________________

$296,418.88

$96,942.63
146,739.39
15,280.67
6,710.00
25,000.00
4,546.19
1,200.00
$296,418.88

NO. 680.
THE CASS CITY STATE BANK, CASS CITY.
Organized June 10, 1921.
M. B. A u t e n .,

P r e s id e n t;

G. A. T in d a l e ,

V ic e

P r e s id e n t;

C. M. W a l l a c e ,

C a s h ie r .

D ir e c t o r s .— B. F. Benkelman, A. J. Knapp, John A. Sandham, M. B. Auten, G. A. Tindale.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $276,269.17
Overdrafts ____________________ :________
7.82
United States Government obligations,
direct and guaranteed________________
22,550.00
Other bonds, stocks, and securities______
93,284.07
3,000.00
Banking house _________________________
Reserve with Federal Reserve Bank-- -----48,138.79
Cash, balances with other banks, and
cash items in process of collection____
47,627.20
Other assets____________________________
156.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$491,033.11

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding______
Capital account:
Common s to c k ________________________
Surplus _______________________________
Undivided profits ___________________
Total _______________________________

$96,677.62
300,095.33
13,175.78
5,984.88
40,000.00
30,000.00
5,099.50
$491,033.11

74

STATE BANKING DEPARTMENT
No. 671.
THE PINNEY STATE BANK, CASS CITY.
Organized January 12, 1921.

F r e d e r ic k H. P in n e y , P r e s i d e n t ; H. F. L e n zn e b , V i c e P r e s i d e n t ; E r n e s t C r o f t , C a s h i e r ;
D. W . B e n k e l m a n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .-— Frederick H. Pinney, Elizabeth E. Pinney, H. F. Lenzner, P. A. Schenck,

.

G. H. Burke.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $226,291.27
Overdrafts______________________________
77.06
United States Government obligations,
direct and guaranteed________________
85,513.50
Other bonds, stocks, andsecurities_______ 151,831.80
Banking house _________________________
2,500.00
Reserve with Federal Reserve Bank_____
135,830.08
Cash, balances with other banks, and
cash items in process of collection____
23,980.19
Cash' items not in process of collection- .
1,318.16

Demand deposits of individuals, partner­
ships, and corporations_______________ $112,805.93
Time deposits of individuals, partnerships,
and corporations _____________________
406,647.21
State, county, and municipal deposits___
30,020.14
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,480.43
Capital account:
Common s to c k ________________________
50,000.00
Surplus_________________________ ______
15,000.00
Undivided profits --------------------------------11,388.35

Total ______________________________

$627,342.06

Total _______________________________

$627,342.06

No. 421.
THE CASS COUNTY STATE BANK, CASSOPOLIS.
Organized August 27, 1908.
F red R u s s , P r e s i d e n t ; S t e p h e n I. R udd , R. F. P e c k , V i c e P r e s i d e n t s ; W il s o n B. D e c k e r ,
C a s h i e r ; C lyde L . C o r b it , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Stephen I. Rudd, U. S. Eby, R. F. Peck, J. F. Hayden, W ilson B. Decker,

Wm. H. Connelly, Fred Russ.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $143,074.86
O verdrafts______________________________
8.06
United States Government obligations,
direct and guaranteed ________________
113,550.00
Other bonds, stocks, and securities______
58,541.30
Banking house _________________________
4,900.00
Furniture and fixtures _________
500.00
Real estate owned other than banking
h o u se_________________
2,424.50
Reserve with Federal Reserve Bank_____ 172,021.27
Cash, balances with other banks, and
cash items in process of collection____
31,761.11
Cash items not in process of collection—
293.58

Demand deposits of individuals, partner­
ships, and corporations____________
$109,843.02
Time deposits of individuals, partnerships,
and corporations _____________________
290,468.96
State, county, and municipal deposits___ .
57,773.34
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
2,467.45
and travelers’ checks outstanding____
Capital account:
Common s to c k ________________________
40,000.00
Surplus______
20,000.00
Undivided profits _____________________
6,521.91

Total _____________ _________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$527,074.68

Total ------------------------------------------------

$527,074.68

75

STATE BANKS OF MICHIGAN
No. 537.
THE STATE BANK OF CEDAR, CEDAR.
Organized May 10, 1913.
Branch in Suttons Bay, Michigan.
J. C. V l a c k ,

F r a n k R u t h a r d t , F. E. M u r p h y , V i c e P r e s i d e n t s ; L. R. H am ­
m on d , C a s h i e r ; L. H . W e il e r , B r a n c h M a n a g e r .

P r e s id e n t;

D ir e c t o r s .— George Mason, J. C. Vlaek, Frank Ruthardt, J. M. H ilton, F. E. Murphy.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $137,398.63
United States Government obligations,
direct and guaranteed
______________
22,600.00
Other bonds, stocks, andsecurities---------16,300.00
Banking house --------6,380.00
Furniture and fixtures _____________ _____
2,970.00
Cash, balances with other banks, and
cash items in process ofcollection _____
85,190.79
27.77
Other assets____________________________

T o ta l_______________________________

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations ------------------------------State, county, andmunicipal deposits------Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding-------Other liabilities ____________
Capital account:
First preferred stock _________________
Common s to c k ________________________
Undivided profits ---------------------------------

$270,867.19

Total ------------------------------------------------

$60,304.92
102,497.77
63,462.84
2,589.49
815.01
20,000.00
20,000.00
1,197.18
$270,867.19

NO. 581.
THE CEDAR SPRINGS STATE BANK, CEDAR SPRINGS.
Organized April 4, 1916.
H er ber t W. W h e e l e r , P r e s i d e n t ; D on ald J. R e m e r , V i c e P r e s i d e n t ; L ee G r is w o l d ,
C a sh ier.

D ir e c t o r s .— Lee

Griswold, Donald J. Remer, Herbert W. Wheeler, Dennis D. Davis,
Laverne Hubbard, Ena Verburg.

Statement December 31, 3938.
ASSETS
Loans and discounts -----------------------------United States Government obligations,
direct and guaranteed------------------------Other bonds, stocks, and securities-------Banking house —— ----------------------------—
Furniture and fixtures---------------------------Cash, balances with other banks, and
cash items in process of collection------Total ___________________ ____________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$89,705.47
66,975.22
17,950.00
4,911.85
1.00
78,938.91
$258,482.45

Demand deposits of individuals, partner­
ships, and corporations __-------------- _---Time deposits of individuals, partnerships,
and corporations --------------------------------State, county, and municipal deposits----Capital account:
Common s to c k ________________________
Surplus _______________________________
Undivided profits _____________________
Total _______________________________

$90,148.66
103,032.74
33,140.92
25,000.00
6,000.00
1,160.13
$258,482.45

76

STATE BANKING DEPARTMENT
No. 391.
THE WOLF BROS. STATE BANK, CENTREYILLE, MICHIGAN.
Organized March 26, 1908.

F rank

W o l f , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; E r n e s t C. E n g le , V i c e
d e n t ; C. D. M o s h e r , C a s h i e r ; P a u l D il l o n , A s s i s t a n t C a s h i e r .

P r e si­

D ir e c t o r s .— Frank W olf, W. I. Ashley, H. C. Bucknell, F. W. Thomas, C. D. Mosher,

E.

C. Engle, G. L. Thoms.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts, including overdrafts $139,158.80
United States Government obligations,
direct and guaranteed ____________
135,944.47
40,676.30
Other bonds, stocks, and securities______
Banking house _________________________
2,500.00
Furniture and fixtures__________________
1,000.00
Cash, balances with other banks, and
60,396.44
cash items in process of collection ___

Total ------------------------------------------------

Demand deposits of individuals, partner­
ships, and corporations ___________
Time deposits of individuals, partnerships,
and corporations____________________
State, county, and municipal d e p o s it s _
United States Government and Postal
Savings deposits______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common stock _______________________
Undivided p ro fits _____________________
Reserve for contingencies_____________

$379,676.01

Total _______________________________

$95,838.88
203,357.42
24,037.40
250.46
9,269.55
30,000.00
11,719.83
5,202.47
$379,676.01

No. 785.
THE CHARLEVOIX COUNTY STATE BANK, CHARLEVOIX.
Organized February 14, 1934.
R o bert B r id g e , P r e s i d e n t ; E . J. H il l e r , V i c e P r e s i d e n t ; E . D . H a w l e y , C a s h ie r .
D ir e c t o r s .— Robert Bridge, M. A. Levinson, E . J. H iller, J. M. Foster, E . D. Hawley.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $241,972.72
United States Government obligations,
direct and guaranteed ________________
92,519.70
Other bonds, stocks, and securities_____
73,884.66
Banking house _________________________
14,000.00
70,996.68
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
105,117.03
Cash items not in process of collection__
607.53

Demand deposits of individuals, partner­
ships, and corporations _______________ $183,835.42
Time deposits of individuals, partnerships,
and corporations _____________________
248,386.10
State, county, and municipal deposits___
122,733.61
United States Government and Postal
Savings deposits ______________________
2,331.79
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,073.59
Capital account:
Common stock _______________________ _
25,000.00
S urplus_______________________________
8,000.00
Undivided profits _____________________
12.81
Reserve for contingencies ____________
2,725.00

Total ------------------------------------------------ $599,098.32

Total ------------------------------------------------ $599,098.32


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Federal Reserve Bank of St. Louis

77

STATE BANKS OF MICHIGAN
No. 315.
THE CHARLEVOIX STATE SAVINGS BANK, CHARLEVOIX.
Organized June 8, 1905.
H. A. C r a ig ,

F. F. M c M il l a n , F. S. M y e r s ,
A. L. L iv i n g s t o n , C a s h ie r .

P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ;
P r e s id e n ts ;

V ic e

D ir e c t o r s .— H. A. Craig, F. F. McMillan, A. L. Livingston, F. S. Myers, Wm. W. Srigley.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $103,740.76
United States Government obligations,
direct and guaranteed ------------------------88,785.00
Other bonds, stocks, and securities-------32,466.69
Banking house --------------------------------------7,800.00
Furniture and fixtures ___---------------------950.00
Cash, balances with other banks, and
cash items in process of collection-----58,420.58

Total _______________________________

$292,163.03

Demand deposits of individuals, partner­
ships, and corporations-----------------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ________ __
— -Total _______________________________

$74,187.05
102,551.71
79,844.31
2,859.00
25,000.00
3,000.00
4,720.96
$292,163.03

No. 218.
EATON COUNTY SAVINGS BANK, CHARLOTTE.
Organized August 1, 1899.
F. H. B e a c h ,

F. S. B e a c h , M. V o m b e r g , V i c e P r e s i d e n t s ; P. H. B a r b e r ,
C a s h i e r ; C. W. B e h r e n s , A s s i s t a n t C a s h ie r .

P r e sid e n tj

D ir e c t o r s .— Albert Murray, N. B. Alsover, H. T . McGrath, P. H . Barber, E. R. Boyles,

M. Vomberg, F. H. Beach, F. S. Beach, C. W. Behrens.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $223,413.62
Overdrafts ______________________________
48.68
United States Government obligations,
direct and guaranteed ------------------------ 151,742.18
Other bonds, stocks, and securities-----257,339.70
Banking house _________________________
10,000.00
Furniture and fixtures --------------------------2,800.00
Reserve with Federal Reserve Bank-------69,802.17
Cash, balances with other banks, and
cash items in process of collection-----207,492.20
Investments and other assets indirectly
representing banking house or other
real estate ___________________________
942.41

Demand deposits of individuals, partner­
ships, and corporations------------------------ $230,447.18
Time deposits of individuals, partnerships,
475,129.24
and corporations _____________________
State, county, and municipal deposits----83,270.06
United States Government and postal
savings deposits
----------------------------5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------51,736.90
Capital account:
Common stock . ---------------------------------54,000.00
Surplus ------15,000.00
Undivided profits --------------------------------8,997.58

T o t a l ________ - _____________________


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Federal Reserve Bank of St. Louis

$923,580.96

Total _______________________________

$923,580.96

78

STATE BANKING DEPARTMENT
No. 304.
THE CHEBOYGAN STATE SAVINGS BANK, CHEBOYGAN.
Organized February 11, 1905

F red A . H a u t , P r e s i d e n t a n d C a s h i e r ; H er b e r t D . B o c k e s , V i c e P r e s i d e n t ; A u r e l ie
L.
S h ie l d s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .

Fred A . Haut, Otto H. Gebhardt, Herbert D. Bockes, Frederick C. Mayne,
Aurelie L. Shields.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____

$84,507.04
106,751.58
191,013.25
600.00
87,311.02

Demand deposits of individuals, partner­
ships, and corporations________________ $104,664.24
Time deposits of individuals, partnerships,
and corporations _____________________
283,856.44
State, county, and municipal deposits___
19,344.13
United States Government and postal
savings deposits ______________________
4,248.10
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
644.40
Capital account:
Common stock _______________________
40,000.00
Surplus ______________________________
16,000.00
Reserve for contingencies_____________
1,425.58

Total ------------------------------------------------ $470,182.89

Total ------------------------------------------------ $470.182.89

No. 203.
CHELSEA STATE BANK, CHELSEA.
Organized December 17, 1897.
P a u l G. S c h a ib l e , P r e s i d e n t ; J o h n L. F l e t c h e r , V i c e P r e s i d e n t a n d C a s h i e r ; C a r l J.
M a y e r , P a u l F. N ic h a u s , P a u l C. M a r o n e y , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— John

L. Fletcher, John Kalmbach, Otto D. Luick, A. A. Palmer, L. G.
Palmer, Paul G. Schaible, Arthur J. W alz, Howard S. Holmes.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $407,693.29
O verdrafts___ ________ ___________________
193.34
United States Government obligations,
direct and guaranteed ________________
126,925.00
Other bonds, stocks, and securities______
601,909.53
Banking house _________________________
13,410.00
Furniture and fixtures _________________
2,750.00
Real estate owned other than banking
house -------------------------------------------------13,049.10
Reserve with Federal Reserve Bank_____
78,317.12
Cash, balances with other banks, and
cash items in process of collection____
174,412.82

Demand deposits of individuals, partner­
ships, and corporations__ _____________ $303,610.78
Time deposits of individuals, partnerships,
and corporations ---------------------------------- 910,358.28
State, county, and municipal deposits___
42,475.06
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,821.35
Capital account:
Common stock _______________________
55,000.00
Surplus ----------------------------------------------55,000.00
Undivided profits _____________________
31,394.73
Reserve for contingencies ____________
15,000.00

Total ------------------------------------------------ $1,418,660.20

Total ------------------------------------------------ $1,418,660.20


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Federal Reserve Bank of St. Louis

79

STATE BANKS OF MICHIGAN
No. 235.
THE CHESANING STATE BANK, CHESANING, MICHIGAN.
Organized May 17, 1901.
G eo . M. P e e t , C h a ir m a n o f t h e B o a r d .

C la r e n c e W. S c h a f e r , P r e s i d e n t ; F r a n k A. G r e e n f e l d e r , V i c e P r e s i d e n t ; F lo yd M.
H o p k i n s , C a s h i e r ; C h a r l e s S. H a r m o n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Albert K. Babion, Charles W. Cheeney, J. Lawrence Cowman, Edward F.

Evarts, Frank A. Greenfelder, Geo. M. Peet, Clarence W. Schafer, Frank J. Stevens.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $283,536.64
United States Government obligations,
direct and guaranteed________________
247,294.89
Other bonds, stocks, and securities---------- 142,780.65
Banking house --------------------------------------19,508.68
Furniture and fixtures -----------863.18
Reserve with Federal Reserve Bank------102,258.13
Cash, balances with other banks, and
156,835.48
cash items in process of collection_____

Demand deposits of individuals, partner­
ships, and corporations________________ $198,875.41
Time deposits of individuals, partnerships,
and corporations___ __________________ 534,126.76
State, county, and municipal deposits___
92,771.85
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
19,402.84
Interest, taxes, and other expenses ac­
crued and unpaid ------------------------------303.33
Capital account:
Common stock _______________________
64,300.00
Surplus ■______________________________
23,000.00
Undivided profits _____________________
5,969.23
Reserve for contingencies_____________
14,328.23

Total _______________________________

$953,077.65

Total _______________________________

$953,077.65

No. 424.
THE CITIZENS STATE BANK OF CLARE, CLARE.
Organized December 22, 1908.
Jam es

D r . A. E. M ulder, C h a i r m a n o f
S. B i c k n e l l , P r e s i d e n t ; J. S t u a r t B ic k n e l l ,
nell,

C a sh ier;

th e B oa rd .
V ic e

P r e sid e n t;

M a r k H. B i c k -

T h eo W a l l in g t o n , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— James S. Bicknell, Dr. A. E. Mulder, Wm. H. Bicknell, Mrs. A. E. Mussell,

I.

E. Hampton, J. Stuart Bicknell, Mark H. Bicknell.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $528,873.29
Overdrafts _____________________________
502.13
United States Government obligations,
direct and guaranteed _______________
88,802.89
Other bonds, stocks, andsecurities_______ 151,425.91
Banking house _________________________
25,000.00
Furniture and fixtures _________________
7,000.00
Real estate owned other than banking
house ________________________________
9,110.63
Cash, balances with other banks, and
cash items in process of collection------272,946.65

Demand deposits of individuals, partner­
ships, and corporations________________ $291,525.57
Time deposits of individuals, partnerships,
and corporations _____________________
600,106.20
State, county, and municipal deposits___
80,426.83
United States Government and postal
savings deposits ______________________
797.33
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
7,206.04
Capital account:
First preferred stock _________________
56,400.00
Common stock _______________________
25,000.00
Surplus ______________________________ . 10,600.00
Undivided profits _____________ ________
9,197.30
Preferred stock retirement fund______
2,402.23

Total _______________________________ $1,083,661.50

Total _______________________________ $1,083,661.50


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Federal Reserve Bank of St. Louis

80

STATE BANKING DEPARTMENT
No. 540.
CLARKSTON STATE BANK, CLARKSTON.
Organized October 31, 1913.

G eorge

T h o s . J. F o l e y , C h a ir m a n o f t h e B o a r d .
D. K in g , P r e s i d e n t ; G u y A. W a l t e r , V i c e P r e s i d e n t ; R. C. A in s l e y , C a s h i e r ;
R obert L. J o n e s , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— Thos. J. Foley, J. H. Alger, G. A. W alter, George D. King, C. G. W aterbury,

John L. Estes, R. C. Ainsley.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__ _____
_____ $253,692.14
United States Government obligations,
direct and guaranteed ________________
116,946.29
Other bonds, stocks, andsecurities_______ 127,029.40
Banking house ________________________
11,850.00
Furniture and fixtures ______________
2,925.00
Reserve with Federal Reserve Bank_____
49,303.69
Cash, balances with other banks, and
cash items in process of collection____
68,037.87

Demand deposits of individuals, partner­
ships, and corporations_______________ $182,292.14
Time deposits of individuals, partnerships,
and corporations ________________
308,782.45
State, county, and municipal deposits___
91,809.70
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ____
2,912.16
Other liabilities ________________________
1,577.41
Capital account:
Common stock _______________________
25,000.00
8,000.00
Surplus _____________ ________________
Undivided profits _____________________
7,410.53
Reserve for contingencies_____________
2,000.00

Total -------------------— -----------------------

$629,784.39

Total ------------------------------------------------ $629,784.39

No. 486.

THE EDWIN NASH STATE BANK, CLARKSVILLE.
Organized June 5, 1911.
L e w is A. M i c k , P r e s i d e n t ; C laud S c o v il l e , V i c e P r e s i d e n t ; A. H . J o h n s o n , C a s h i e r ;
L y n n e N a s h , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Lewis A . Mick, Claud Scoville, Elmer Winey, Clarence Marvin, Fred Wagner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
$46,482.35
Demand deposits of individuals, partner­
United States Government obligations,
ships, and corporations________________
direct and guaranteed ________________
51,475.00
Time deposits of individuals, partnerships,
Other bonds, stocks, andsecurities______
65,332.50
and corporations ____________________
Banking h o u s e __ ____________________
1,600.00
State, county, andmunicipal deposits____
Furniture and fixtures _________________
400.00
Deposits of other banks, certified and
Cash, balances with other banks, and
cashier’ s checks, cash letters of credit
cash items in process of collection_____
19,861.07
and travelers’ checks outstanding______
Other assets_______________________ ____________
400.00
Other liabilities _______.■________________
Capital account:
Common stock _______________________
Undivided profits _____________________
Reserve for contingencies_____________
Total

----------------------------------------------- $185,550.92


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total

$20,703,58
117,601.06
19,476.16
44.90
246.66
25,000.00
2,016.07
462.49

---------------- _----------------------------- $185,550.92

STATE BANKS OF MICHIGAN

81

No. 616.
STATE SAVINGS BANK OF CLINTON, CLINTON.
Organized June 26, 1918.
L eandek W. K im b a l l , C h a ir m a n o f t h e B o a r d .
W il l ia m P. V a n T u y le , P r e s i d e n t a n d C a s h i e r ; C la r e L. K im b a l l , V i c e P r e s i d e n t ;
A n d re w W o odw a rd , A s s i s t a n t C a s h i e r a n d S e c r e t a r y ; H ele n C l a c k , A s s i s t a n t C a s h i e r
and A u d ito r.

D ir e c t o r s .

Leander W. Kimball, Clare L. Kimball, Harvey C. Emery, Andrew W ood­
ward, W illiam P. VanTuyle.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $198,287.95
United States Government obligations,
direct and guaranteed _______________
67,273.08
Other bonds, stocks, and securities____
28,994.55
Banking house _________________________
5,000.00
Furniture and fixtures _________________
892.20
Cash, balances with other banks, and
cash items in process of collection____
103,554.57
Other assets
________________________
113.12

Demand deposits of individuals, partner­
ships, and corporations________________ $158,567.66
Time deposits of individuals, partnerships,
and corporations _____________________
144,645.89
State, county, and municipal deposits___
21,865.03
United States Government and postal
savings deposits ______________________
326.30
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,013.70
Capital account:
Common stock _______________________
50,000.00
Surplus ----------------------------------------------12,700.00
Undivided profits _____________________
7,996.89
Reserve for contingencies_____________
7,000.00

Total ------------------------------------------------ $404,115.47

Total ------------------------------------------------ $404,115.47

No. 483.
THE CLIO STATE BANK, CLIO.
Organized May 18, 1911.
M. C. D o y l e ,

P r e s id e n t;

F. M. H o u g h t o n ,

V i c e P r e s i d e n t ; R o l l a n d F. C o v e r t , C a s h i e r ;
B e l l e M. C u r t is , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— M. C. Doyle, F red M. Houghton, Charles E. Taylor, Ernest Tisdale, Fred

Green, Hugh McCormick, E. L. Powers, Arthur J. Schaupp, Glen E. Garner’.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $205,631.97
Overdrafts ___________
5.63
United States Government obligations,
direct and guaranteed________________
102,421.82
Other bonds, stocks, andsecurities_______
65,217.97
Banking house _________________________
7,500.00
Furniture and fixtures _________________
2,250.00
Cash, balances with other banks, and
cash items in process of collection_____
80,358.74
Other assets ____________________________
72.14

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$463,458.27

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding_______
Other liabilities ________________________
Capital account:
First preferred stock
_______________
Common stock _______
Surplus -----------------------Undivided profits _____________________
Total

$92,178.46
251,976.27
53,145.51
2,046.96
10,983.65
416.26
25,000.00
25,000.00
750.00
1,961.16
$463,458.27

STATE BANKING DEPARTMENT

82

No. 104.
THE BRANCH COUNTY SAYINGS BANK, COLDWATER.
Organized September 20, 1890.
C. A. C on over , P r e s i d e n t ; H . L. V a n D u s e n , E x e c u t i v e V i c e P r e s i d e n t ; M. T. S h a w ,
0 . W. H o l m e s , V i c e P r e s i d e n t s ; R o l p h J. C a r l is l e , C a s h i e r ; L loyd L u c e , A s s i s t a n t
C a s h ie r .

D ir e c t o r s .— G. S. Coffman, C. A . Conover, A. G. M orency, M. T. Shaw, M. L. Tyler,

S.

E. Weage.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------- $560,104.11
Overdrafts ___________________________ —
104.29
United States Government obligations,
280,502.41
direct and guaranteed________________
Other bonds, stocks, andsecurities______
484,691.15
Furniture and fixtures _________________
4,600.00
Real estate owned other than banking
house ________________________________
17,325.00
Cash, balances with other banks, and
cash items in process of collection_____ 385,383.32
Cash items not in process of collection—
212.24

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $457,777.47
Time deposits of individuals, partnerships,
and corporations ____________________
904,359.64
State, county, andmunicipal deposits------- 180,571.93
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding--------3,635.96
Other liabilities ________________________
40.82
Capital account:
69,000.00
First preferred stock ________________ _
Common stock _______________________
75,000.00
28,800.00
Surplus ______________________________
Undivided profits _____________________
11,014.67
Reserves _____________________________
2,722.03

Total _______________________________ $1,732,922.52

Total _______________________________ $1,732,922.52

No. 292.
THE STATE BANK OE COLEMAN, COLEMAN.
Organized June 1, 1904.
C. H . M a c o m b e r , P r e s i d e n t ; E . J. A l l e n , V i c e P r e s i d e n t ; R obert A . M u r p h y , C a s h i e r ;
N eva D . M y e r s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Robert A. Murphy, C. H. Macomber, E. J. Allen, Nettie Allen Bott, E. R.

Simons, A. P. Black.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $158,669.97
Overdrafts ---------5.64
United States Government obligations,
direct and guaranteed ________________
134,756.27
Other bonds, stocks, and securities-------1,105.00
Banking house --------------------------------------6,700.00
Furniture and fixtures _________________
2,400.00
Real estate owned other than banking
house ________________________________
4,308.10
Cash, balances with other banks, and
cash items in process of collection------96,981.53

Demand deposits of individuals, partner­
ships, and corporations________________ $102,795.86
Time deposits of individuals, partnerships,
and corporations _____________________
209,980.35
State, county, and municipal deposits___
34,382.95
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,102.53
Dividends declared but not yet payable—
1,100.00
Capital account:
First preferred stock _________________
12,000.00
Common stock ------------------------------------20,000.00
Surplus ______________________________
10,000.00
Undivided profits --------------------------------7,814.82
Reserve for contingencies ____________
3,750.00
Preferred stock retirement fund______
2,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$404,926.51

Total _______________________________

$404,926.51

STATE BANKS OF MICHIGAN

83

No. 442.
THE STATE BANK OF COLOMA, COLOMA.
Organized October 28, 1909.
F red W . C o c h r u n , P r e s i d e n t ; B urr B a r t r a m , G eo . R . D a t e r , V i c e P r e s i d e n t s ; H arold
E. L y o n , V i c e P r e s i d e n t a n d C a s h i e r ; C ora A. F u r m a n , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Burr Bartram, Fred W . Cochrun, Geo. R . Dater, Harold E. Lyon, Allen W.

Baker.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________
$113,772.66
United States Government obligations,
direct and guaranteed ________________
150,623.44
Other bonds, stocks, and securities_____
123,567.93
Banking house --------------------------------------12,500.00
Furniture and fixtures _________________
4,031.08
Reserve with Federal Reserve Bank_____
33,043.65
Cash, balances with other banks, and
62,764.53
cash items in process of collection____

Demand deposits of individuals, partner­
ships, and corporations_______________ $147,856.94
Time deposits of individuals, partnerships,
and corporations _____________________
256,551.75
State, county, and municipal deposits___
47,014.02
United States Government and postal
635.71
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,061.63
Capital account:
First preferred stock _________________
20,000.00
Common stock ________________
25,000.00
Undivided p ro fits _____________________
783.24
Preferred stock retirement
fund_____
1,500.00

Total ------------------------------------------------ $500,303 29

Total ------------------------------------------------ $500.303.29

No. 427.
E. HILL AND SONS STATE BANK, COLON.
Organized March 11, 1909.
G r a n t E. F ar ran d , P r e s i d e n t ; S u s a n V . H i l l , V i c e P r e s i d e n t ; E d w in J. H i l l , C a s h i e r ;
J o h n A . K a r c h n e r , E va I. H i l l , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— R o y J. Bartholomew, Charles G. Correll, Grant E. Farrand, Edwin J. Hill,

Susan V. Hill, Frank D. Lamberson, Amelia H. Tenney.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $277,187.10
Overdrafts ____ :________________________
393.07
United States Government obligations,
direct and guaranteed ________________
96,087.50
Other bonds, stocks, and securities____
36,600.00
Banking house --------------------------------------12,000.00
Real estate owned other than banking
house -------------------------------------------------750.00
Cash, balances with other banks, and
cash items in process of collection____
31,998.84

Demand deposits of individuals, partner­
ships, and corporations _______________ $121,813.31
Time deposits of individuals, partnerships,
and corporations _____________________
221,156.82
State, county, and municipal deposits___
49,881.89
Capital account:
First preferred stock _________________
27,000.00
Common stock _______________________
30,000.00
Undivided profits _____________________
5,164.49

Total ------------------------------------------------ $455,016.51

Total ------------------------------------------------ $455,016.51


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTMENT

84

No. 32.
THE FARMERS STATE BANK OF CONCORD, CONCORD.
Organized November 20, 1886.
F r a n k N. A l d r ic h , P r e s i d e n t ;

F. S. T u t i i i l l , D w i g h t
D ean G. T odd , C a s h ie r .

A . A l d r ic h , V i c e P r e s i d e n t s ;

D ir e c t o r s .— Frank N. Aldrich, F. C. Young, F. S. Tuthill, Dwight A. Aldrich, C. S. Allen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------- $295,445.45
81.68
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
15,000.00
Other bonds, stocks, and securities_____
42,875.00
3,840.00
Banking house _________________________
Furniture and fixtures _________________
1,687.15
Cash, balances with other banks, and
cash items in process of collection-----86,498.96

Demand deposits of individuals, partner­
ships, and corporations ------------------------ $108,210.93
Time deposits of individuals, partnerships,
236,235.96
and corporations _____________________
State, county, and municipal deposits __
56,964.43
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
2,006.00
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
25,000.00
Surplus ______________________________
5,000.00
Undivided profits _____________________
12,010.92

Total _______________________________

Total _______________________________

$445,428.24

$445,428.24

No. 174.

FIRST COMMERCIAL SAVINGS BANK OF CONSTANTINE, CONSTANTINE.
Organized June 22, 1894.
Branch in White Pigeon, Michigan.
W m . H. S m i t h ,

E d . R o d e r ic k , P r e s i d e n t ; E. L. E s t e s , E x e c u ­
W o l f , V i c e P r e s i d e n t ; M. H. B e n n e t t , C a s h i e r ; M. S.
D ic k e r s o n , A s s i s t a n t C a s h i e r ; G race E. G il m o r e , B r a n c h M a n a g e r .
tiv e

V ic e

C h a ir m a n

P r e s id e n t;

of

th e B o a r d ;

F rank

D ir e c t o r s .— Wm. H. Smith, Frank W olf, C. A. Brody, Ed. Roderick, E. L. Estes, F. W.

Thomas, E. C. Engle, J. J. Davis.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------- $131,678.91
Overdrafts ---------------------------35.04
United States Government obligations,
368,917.02
direct and guaranteed _______________
Other bonds, stocks, and securities-------49,640.17
Banking house _________________________
10,719.34
Furniture and fixtures --------------------------5,340.00
Cash, balances with other banks, and
cash items in process of collection-----115,771.39
Other assets ------3.50

Demand deposits of individuals, partner­
ships, and corporations------------------------ $204,272.10
Time deposits of individuals, partnerships,
and corporations _________________
345,997.95
State, county, and municipal deposits----49,806.78
United States Government and postal
savings deposits ______________________
2,579.44
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-----4,294.75
Other liabilities -------------------------------------335.88
Capital account:
Common stock -----------------------------------51,000.00
Surplus ______________________________
5,000.00
Undivided profits ___________________ _
18,818.47

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$682,105.37

Total _______________________________

$682,105.37

STATE BANKS OF MICHIGAN

85

No. 281.
COOPERSVILLE STATE BANK, COOPERSVILLE.
Organized September 29, 1903.
T r u m a n H . L i l l i e , P r e s i d e n t ; L. D. M i l l s , V i e e P r e s i d e n t ; C. L eo V a n F r a n k , C a s h i e r ;
P a u l H a h n , A s s i s t a n t C a s h i e r ; W a y n e C. M u r r a y , A u d i t o r .
D ir e c t o r s .— Truman H. Lillie, L. D. Mills, Ellis P. Lillie, Leo C. Lillie, Geo. F. Easton,

Bernie J. Lemmen, Vernon J. Tasker, John N. W enger, C. Leo VanFrank.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____ ________________ $221,580.67
United States Government obligations,
direct and guaranteed________________
40,832.49
Other bonds, stocks, and securities _____ 198,065.44
Banking house _________________________
3,000.00
2,219.25
Furniture and fixtures _________________
Reserve with Federal Reserve Bank_____
147,411.82
Cash, balances with other banks, and
cash items in process of collection____
66,528.66
Other assets____________________________
125.74

Total

----------------------------------------------

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations
____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier's checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________

$679,764.07

Total _______________________________

$96,686.39
467,284.07
62,159.82
5,383.94
40,000.00
8,000.00
249.85
$679,764.07

No. 339.
THE OLD CORUNNA STATE BANK, CORUNNA.
Organized May 5, 1906.
E. T. S id n e y ,

P r e sid e n t;

J o s e p h H. C o l l in s , V i c e P r e s i d e n t ; F. L. B r o o k s , C a s h i e r ;
R. D. H a r m o n , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— E. T. Sidney, Jos. H. Collins, Frank R. Gilna, H. A. Allan, W. F. Gallagher.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $351,775.33
Overdrafts _____________________________
113.26
United States Government obligations,
direct and guaranteed _______________
205,500.00
Other bonds, stocks, and securities_____
236,276.25
Banking house _________________________
15,000.00
Furniture and fixtures _________________
1,400.00
Reserve with Federal Reserve Bank_____
130,580.95
Cash, balances with other banks, and
cash items in process of collection____
78,518.74
Other assets ____________________________
4,503.85

Demand deposits of individuals, partner­
ships, and corporations________________ $217,892.80
Time deposits of individuals, partnerships,
and corporations _____________________
642,548.12
State, county, and municipal deposits___
71,848.19
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,684.51
Capital account:
Common stock _______________________
40,000.00
Surplus ______________________________
35,000.00
Undivided profits _____________________
7,906.50
Reserve for contingencies ____________
5,788.26

Total _______________________________ $1,023,668.38

Total ------------------------------------------------ $1,023,668.38


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTMENT

86

No. 182.
STATE BANK OF CROSWELL, OROSWELL.
Organized November 15, 1895.
M e l v in H. A i t k i n , P r e s i d e n t ; H. W. W i x o n , V i c e P r e s i d e n t ; F r a n k L. F e n t o n , V i c e
P r e s i d e n t a n d C a s h i e r ; M. K. D a v is , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Melvin H. Aitkin, H. W. W ixon, H. H. Learmont, Frank L. Fenton, S. B.

Straffon, Herbert Paton. F. M. Sturtridge.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities-------Banking house _________________________
Furniture and fixtures _______________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____

$91,314.42
19.35
320,051.86
365,840.33
12,500.00
1,500.00
198,863.44
39,570.01

Total _______________________________ $1,029,659.41

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $205,293.78
Time deposits of individuals, partnerships,
and corporations _____________________
663,300.62
State, county, and municipal deposits___
80,245.87
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
9.75
Capital account:
Common stock _________
72,300.00
Undivided profits _____________________
3,869.72
Reserve for contingencies ____
4,639.67
Total _______________________________ $1,029,659.41

No. 568.
THE STATE BANK OF CRYSTAL, CRYSTAL.
Organized August 26, 1915.
A lv a L a S a l l e , P r e s i d e n t ; E. E. S t e e r e , V i c e P r e s i d e n t ; E a r l J. F r o s t , C a s h i e r ; L a Y e r n e F r o st , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— C. DeYoung, A lva LaSalle, Z. D. Rule, E. R. Steere, Ira Cummings.

Statement December 31, 1938.
ASSETS
Loans and discounts------------------------------Overdrafts ________________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities_____
Banking house ______________ :__________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____
Other assets ____________

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$93,722.74
16.87
103,852.56
179,392.91
5,000.00
3,000.00
96,558.46
2,055.10

$483,598.64

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Other liabilities ________________________
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Reserves _____________________________

$72,561.19
281,237.97
75,130.40
5,321.13
525.00
15,000.00
20,000.00
10,000.00
347.95
3,475.00

Total ------------------------------------------------ $483,598.64

STATE BANKS OF MICHIGAN

87

No. 176.
DAVISON STATE BANK, DAVISON.
Organized December 23, 1894.
I.

J. B e r r y ,

P r e s id e n t;

A. S. H a r r is o n ,

V ic e P r e s i d e n t ;

H. P. H o l se r ,

C a sh ier;

R. H.

U h l in g e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .-—I. J. Berry, S. T. Hall, A. S. Harrison, C. E. Leach, Grant Stimson, J. M.

VanBuskirk, C. A. Uptegraff, Archie Forsyth.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $112,657.78
Overdrafts _____________________________
30.63
United States Government obligations,
direct and guaranteed ________________
127,713.38
Other bonds, stocks, and securities_____
108,504.09
4,000.00
Banking house _________________________
Furniture and fixtures _______________ ;_
1,000.00
Reserve with Federal Reserve Bank_____
30,534.46
Cash, balances with other banks, and
cash items in process of collection____
108,887.94

Demand deposits of individuals, partner­
ships, and corporations ____________
$109,518.59
Time deposits of individuals, partnerships,
and corporations _____________________
287,838.17
State, county, and municipal deposits___
36,475.29
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,384.05
Capital account:
Common stock _______________
50,000.00
Surplus ________
5,000.00
1,742.38
Undivided profits _____________________
Reserve for contingencies ____________
369.80

Total ------------------------------------------------ $493,328.28

Total ------------------------------------------------ $493,328.28

No. 102.
THE FIRST STATE BANK OF DECATUR, MICHIGAN.
Organized August 15, 1890.
E. E. C o p l e y ,

P r e s id e n t

and

C h a ir m a n

of

th e

B oard;

L. E . V an A n t w e r p ,

V ic e

P r e si­

d e n t a n d C a s h ie r .

D ir e c t o r s .— Belle A. Baker, E. E. Copley, L. E. Van Antwerp, Margaret Copley, D. J.

Fox.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $215,113.45
Overdrafts --------178.46
United States Government obligations,
direct and guaranteed _______________
199,487.05
Other bonds, stocks, and securities_____
75,439.61
Banking house _________________________
7,000.00
Furniture and fixtures _________________
3,000.00
Real estate owned other than banking
house ________________________________
6,238.40
Cash, balances with other banks, and
cash items in process of collection___
194,596.88
Cash items not in processof collection—
432.83

Demand deposits of individuals, partner­
ships, and corporations _______________ $199,184.34
Time deposits of individuals, partnerships,
and corporations ________
382,374.38
State, county, and municipal deposits___
37,765.70
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,008.09
Capital account:
First preferred stock _________________
24,000.00
Common stock _______________________
40,000.00
Surplus __________________
8,000.00
Undivided profits _____________________
9,154.17

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$701,486.68

Total ------------------------------------------- !__ $701,486.68

STATE BANKING DEPARTMENT

88

No. 335.
THE DEERFIELD STATE BANK, DEERFIELD.
Organized March 10, 1906.
A r t h u r J. I ngold , P r e s i d e n t ; G u y H . R o b e r t s , V i c e P r e s i d e n t ; F red W. K in g , C a s h ie r .
D ir e c t o r s .— Guy H .

Roberts, Arthur J. Iugold, Fred Gerber, James Stull, Col. John
G. Ingold, Guy M. Claflin.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts------------------------------- $189,697.46
Overdrafts _____________________________
166.00
United States Government obligations,
direct and guaranteed------------------------5,400.00
Other bonds, stocks, andsecurities---------31,087.25
Banking house _________________________
2,000.00
Furniture and fixtures _________________
2,350.00
Real estate owned other than banking
house ________________________________
9,047.00
Cash, balances with other banks, and
cash items in process of collection____
94,736.40
Other assets ___________________________
506.60

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Dividends declared but not yet payable—
Capital account:
First preferred s to c k _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Preferred stock retirement fund---------Total _______________________________

$334,990.71

$79,348.41
193,904.88
19,139.13
728.19
298.50
19,900.00
20,000.00
100.00
571.60
1,000.00
$334,990.71

No. 301.
THE DELTON STATE BANK, DELTON.
Organized November 3, 1904.
F red O. H u g h e s , P r e s i d e n t ; J e n n ie H u g h e s A l d r ic h , V i c e P r e s i d e n t ; M. G. R e y n o l d s ,
C a s h ie r .

D ir e c t o r s .— George D. Doster, Silas S. Doster, Fred O. Hughes, Jennie Hughes Aldrich.

M.

G. Reynolds.

Statement December 31, 1938.
ASSETS
Loans and discounts____________________ $238,687.30
Overdrafts _____________________________
1,412.26
United States Government obligations,
direct and guaranteed ________________
102,800.00
Other bonds, stocks, and securities_____
5,000.00
Banking house ________ ,____ ____ .______
7,414.49
Furniture and fixtures _________________
1,644.75
Real estate owned other than bafiking
house ______________________________
4,767.98
Cash, balances with other banks, and
cash items in process of collection____
131,273.83

Total ------------------------------------------------ $493,000.61


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock ________________
Surplus ______________________________
Undivided profits _____________________
Reserve for contingencies_____________
Preferred stock retirement fund_______

$80,228.63
335,734.56
22,859.33
1,239.65
5,900.00
20,000.00
14,100.00
12,538.44
150.00
250.00

Total ------------------------------------------------ $493,000.61

STATE BANKS OF MICHIGAN

89

BANKERS TRUST COMPANY OF DETROIT, DETROIT.
Organized April 26, 1937.
O t t o G. W i s m e r , P r e s i d e n t ; G eo . V . N. L o t h r o p , V i c e P r e s i d e n t ; R a l p h N ix o n , V i c e
P r e s i d e n t a n d S e c r e t a r y ; O l in H. W y m a n , T r e a s u r e r ; A. B. F a u s e r , A. F. D o w d ,
A s s i s t a n t S e c r e t a r i e s ; N e l so n F. A d a m s , T r u s t O fficer.
D ir e c t o r s .-—John C. Bills, Frank C. Cook, Frank D. Eaman, Geo. Y. N. Lothrop, W alter

B. Maurice, Ralph Nixon, Robert Shiell, Nelson F. Adams, Otto G. Wismer, Arthur
Webster, J. Griffith Hays, Earl I. Heenan, Arthur A. Prabel, John Endicott, Kenneth
L. Moore.

Statement December 31, 1988.
ASSETS

LIABILITIES

Loans __________________________________ $197,416.31
Advances to trusts _____________________
124.90
United States Government obligations,
direct and fully guaranteed___________
398,803.28
Other bonds, stocks, and securities_____
70,558.09
Cash, and balances with designated de­
positaries—fiduciary funds ___________
414,104.35
Cash, and balances with other deposi­
taries—company fu n d s ________________
105,848,13
Banking house _________________________
100,000.00
2,000.00
Furniture and fixtures _________________

Fiduciary funds ________________________ $414,104.35
10,500.00
Special or valuation reserves ___________
Other liabilities _ .____________________ ;_
139.20
Capital account:
Common stock *______________________
500,000.00
Surplus ______________________________
224,000.00
140,111.51
Undivided profits _____________________

Total _______________________________ $1,288,855.06

Total _______________________________ $1,288,855.06

No. 580.
COMMONWEALTH BANK, DETROIT.
Organized April 12, 1916.
Twenty-One Branches.
F r a n k W o l f , P r e s i d e n t ; F red H. T a l b o t , W m . W. S m i t h , T. A l l a n S m i t h , V i c e P r e s i ­
d e n t s ; H o w a r d P . P a r s h a l l , E x e c u t i v e V i c e P r e s i d e n t a n d C a s h i e r ; A r t h u r O.
D a h l s t r o m , D o n a l J e n k i n s , A l e x R . B l a c k l o c k , A s s i s t a n t V i c e P r e s i d e n t s ; S. E rle
M il n e , T h o m a s W . C u r r ie , C. R o ber t A rg u e , D a r r e l l G. E n s ig n , R . F . T h o m s o n ,
A s s i s t a n t C a s h i e r s ; H . A rn old S h r in e r , A u d i t o r .
D ir e c t o r s .— Frank H. Alfred, David H. Barnett, Frank G. Baxter, James B. Bradley,

Alexander Freeman, John S. Haggerty, Paul H. King, H. Wm. Klare, Dean Lucking,
H. P. Parshall, Wm. W. Smith, Fred H. Talbot, Frank W olf, Frank J. Shader.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $11,773,481.47
Overdrafts ---------------------- :------------------2,969.28
United States Government obligations,
direct and guaranteed______________ 34,875,031.35
Other bonds, stocks, andsecurities_____
2,341,295.46
Banking house _______________________
476,311.59
Furniture and fixtures________________
80,235.26
Real estate owned other than banking
house ______________________________
418,552.14
Cash, balances with other banks, and
cash items in process of collection___ 16,781,969.40
Other assets _________________________
348,686.27

Demand deposits of individuals, part­
nerships, and corporations___________ $16,500,285.50
Time deposits of individuals, partner­
ships, and corporations _________
28,364,565.57
State, county, and municipal deposits— 13,442,138.39
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
2,388,154.86
and travelers’ checks outstanding___
Interest, taxes, and other expenses ac­
crued and unpaid __________________
52,297.26
Dividends declared but not yet payable
73,034.63
Other liabilities ______________________
319,821.79
Capital account:
First preferred stock _______________
2,575,000.00
Second preferred stock _____________
625,000.00
500,000.00
Common stock ________ 1------------------Surplus ____________________________
500,000.00
767,094.51
Undivided profits -----------------------------Reserve for contingencies __________
228,639.71
Preferred stock retirement fund-------212,500.00
Reserve for dividends payable in
common stock ____________________
550,000.00

Total _____________________________ $67,098,532.22


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _____________________________ $67,098,532.23

STATE BANKING DEPARTMENT

90

No. 47.
THE DETROIT BANK, DETROIT.
Organized 1849.
Reorganized July 18, 1871.
Twenty-nine Branches.
J o s e p h M. D odge , P r e s i d e n t ; R a y m o n d A. J a c o b s , R a l p h J. R o m e r , C h a r l e s A. K in n e y ,
C h a r l e s H. H e w i t t , E d w in D. K a y , V i c e P r e s i d e n t s ; K e n n e t h M. B u r n s , C a s h i e r ;
R o la n d A. B e n j k , R a y m o n d T. P e r r in g , G ale L. W e s s in g e r , C e c il H u n t , G u s t a v e A .
W e l l e n s i c k , A s s i s t a n t V i c e P r e s i d e n t s ; H ar old G. P r e a r , R on ald W . B a in b r id g e ,
A l b e r t H. R u p p , W. B ea W a l d r ip , J o h n W. S c h m i t t , J o h n C. D i l w o r t h , G l e n A.
B a k e r , J u l ia n H a l l , D e r v in e T. G o u in , E ar l H. Q u ib e l l , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— David S. Carter, Charles A. Dean, Jr., Joseph M. Dodge, Frederick T. Du-

charme, Claude M. Harmon, Frank W. Hubbard, James T. McMillan, Sidney T. Miller,
Herbert B. Trix, Nathan T. Viger, Thaddeus W alker, Ferris D. Stone.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________ _____ $31,816,756.01
Overdrafts ___________________________
728.60
United States Government obligations,
direct and guaranteed ______________ 48,255,746.04
Other bonds, stocks, and securities___ 18,781,043.32
Banking house -----------------------------------1,911,465.7«
Furniture and fixtures________________
157,401.29
Real estate owned other than banking
house ______________________________
1,644.883.86
Reserve with Federal ReserveBank _
25,548,171.27
Cash, balances with other banks, and
cash items in process of collection _ 17,538,827.40
Other a ssets__________________________
616,979.44

Demand deposits of individuals, part­
nerships, and corporations
_______ $45,664,354.14
Time deposits of individuals, partner­
ships, and corporations ____________ 73,784,777.83
State, county, and municipaldeposits-8,621,214.76
United States Government and postal
savings deposits ____________________
2,480,264.86
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding___
7,424,605.58
Interest, taxes, and other expenses ac­
crued and unpaid __________________
174,455.26
Other liabilities ______________________
260,486.50
Capital account:
First preferred stock _______________
3,610,000.00
Common stock _____________________
1,500,000.00
1,500,000.00
Surplus __________________
Undivided profits __________________
250,000.00
751,844.06
Reserve for contingencies___________
Preferred stock retirement fund_____
250,000.00

Total --------------------------------------------- $146,272,002.99

Total ---------------------------------------------$146,272,002.99

DETROIT TRUST COMPANY, DETROIT.
Organized November 15, 1900.
H a r r y J. F o x , C h a ir m a n o f t h e B o a r d .
M cP h e r so n B r o w n in g , P r e s i d e n t ; L a w r e n c e K. B u t l e r , C h a r l e s P. S p ic e r , S eld e n B.
D a u m b , E x e c u t i v e V i c e P r e s i d e n t s ; H a r r y L. S t a n t o n , C. T om D a r n t o n . O sc a r L.
B u h r , A l b e r t E. G r e e n , C l a r e n c e M. J u s t ic e , A r t h u r F. B a s s e t t , R a l p h St o n e , V i c e
P r e s i d e n t s ; W il l ia m J. T h o m a s , T r e a s u r e r ; L a w r e n c e K . B u t l e r , S e c r e t a r y ; H er ber t
V . P u s c h , R o ber t L. N ix o n , H a r ry R. G l e e s o n , F r e d e r ic k J. M c G a v i n , A l f r e d B.
C o n n a b l e , J r ., A s s i s t a n t V i c e P r e s i d e n t s ; N orton J. M il l e r , A l b e r t C. M u n r o , R oy
L. T h u r m a n , A u g u s t A. C h a p p , A s s i s t a n t T r e a s u r e r s ; B u r t H. W i c k i n g , P au l
R . B a r t o n , F r e d e r ic k J. O ’D o n n e l l , J o h n O. K e i m , W a l t e r E. M a r t in , L eo J.
M c C l a r t y , C h a r l e s E. H o w a r d , V er n o n C. F r a t c h e r , R o ber t C. S i m p s o n , T r u s t
O f f i c e r s ; M a r c u s B o s t w i c k , L eonard G. B e c k e t t , J o h n J. S p o u t z , E d w in S. S n y d e r ,
C a r l t o n B . L e o n h a r d , N oble D. T r a v i s , F red V an Z a n d t , A s s i s t a n t S e c r e t a r i e s ;
M a x G. M e l in a t , A u d i t o r .
D ir e c t o r s .— Calvin P. Bentley, McPherson Browning, Lawrence K. Butler, B. J. Craig,

R. E. Danaher, James E. Davidson, Frank D. Eaman, H arry J. Fox, Arthur J. Lacy,
James T. McMillan, Sidney T. Miller, Truman H. Newberry, H enry Shelden, E. D.
Stair, Ralph Stone.

Statement December 31, 1938.
ASSETS
Loans ________________ - ______________
Advances to trusts ___________________
United States Government obligations,
direct and fully guaranteed_________
Cash, and balances with designated de­
positaries—fiduciary funds __________
Cash, and balances with other deposi­
taries—company fu n d s ______________
Banking house _______________________

l ia b il it ie s

$1,908,071.81
63,656.12
1,000,000.00
10,694,284.57
623,551.51
1,375,000.00

Total --------------------------------------------- $15,664,564.01


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Fiduciary funds _______________________ $10,694,284.57
Reserve for taxes, etc. _______________
366,903.95
Capital account:
Preferred stock ____________________
1,000,000.00
Common stock _____________________
2,000,000.00
Surplus ______
1,500,000.00
Undivided profits __________________
103,375.49

Total --------------------------------------------- $15,664,564.01

STATE BANKS OF MICHIGAN

81

EQUITABLE TRUST COMPANY, DETROIT.
Organized November 18, 1926.
T h o m a s N e a l , C h a i r m a n o f t h e B o a r d ; M ir o n W. N e a l , P r e s i d e n t ; R a l p h S h a n e , S r .,
V i c e P r e s i d e n t a n d T r e a s u r e r ; O l iv e r D. M a r c k s , S r ., V i c e P r e s i d e n t a n d S e c r e t a r y ;
W i l l ia m C. H a in e s , O sc ar A . K a u f m a n , V i c e P r e s i d e n t s ; W il b u r J. D a n a h e r , H u g h
L in d e n m a n , A s s i s t a n t V i c e P r e s i d e n t s ; W i l l i a m C. H a in e s , H e n r y P. M e l o c h e ,
F red E . S e y f e r t , A s s i s t a n t S e c r e t a r i e s ; O m a r H a n s e n , A s s i s t a n t T r e a s u r e r ; N o rm an
L a n e , A u d i t o r ; W il l i a m F . C rooice , W il b u r J. D a n a h e r , W m . C. H a in e s , D a v id Y.
K e i t h , H u g h L in d e n m a n , K a r l F . M e y e r , J o h n W . S a n d e r s , T r u s t O fficers.
D ir e c t o r s .— Herbert V. Barbour, Ralph S. Lane, Andrew Lorim er, Oliver D. Marcks,
Lynn McNaughton, Kirke A . Neal, Miron W. Neal, Thomas Neal, Burt R. Shurly, James

Vernon, Jr., Pearson Wells.

Statement December 31, 1938.
ASSETS

LIABILITIES

$6,317.00
Loans __________________________________
Advances to trusts _____________________
3,563.68
Accounts receivable_____________________
735.00
United States Government obligations,
direct and fully guaranteed __________
109,828.47
Other bonds, stocks, and securities_____
425.00
Cash, and balances with designated de­
positaries—fiduciary funds _________
1,751,399.72
Cash, and balances with other deposi­
taries—company funds _______________
34,640.48
Other assets________________________ __ — 824,786.11

Fiduciary funds ________________________ $1,751,399.72
Other liabilities ________________________
138.45
Capital account:
First preferred stock _________________
226,340.00
Common stock _______________________
309,660.00
Surplus ______________________________
387,681.19
44,288.25
Undivided profits ____________________
Reserve for contingencies ____________
12,189.85

Total _______________________________ $2,731,697.46

Total _______________________________ $2,731,697.46

INDUSTRIAL MORRIS PLAN BANK OF DETROIT, DETROIT.
Organized November 26, 1927.
Six Branches.
E u gen e W. L e w i s , P r e s i d e n t ; G l e n n F. T u r n b u l l , E x e c u t i v e V i c e P r e s i d e n t ; A. G.
R o p p , V i c e P r e s i d e n t a n d T r e a s u r e r ; F r a n k W. H ub bar d , C h a r l e s T. B u s h , E dw ar d
A. T a u b , W. R. M cL e a n , J. B. R ic h a r d s o n , H. R. H u f f m a n , V i c e P r e s i d e n t s ; J. P.
B e a t t ie , K e i t h G. C o n e , L. S. C a r r ic k , H. C. S p a r k s , H. E. K l o c k o w , A s s i s t a n t
V i c e P r e s i d e n t s ; C l if f o r d L. R ugg , S e c r e t a r y a n d V i c e P r e s i d e n t .
D ir e c t o r s .— Edgar R. Ailes, Harold R. Boyer, Charles T. Bush, Cornelius K. Chapin,

W illiam Reeve Clark, Frank Cody, Frank W. Hubbard, Julian H. Krolik, Eugene W.
Lewis, Arthur J. Morris, A. G. Ropp, Dr. Burt R. Shurly, John S. Sweeney, Jr., Glenn
F. Turnbull, W illiam M. Walker, Jr., Ben E. Young.

Statement December 31, 1938.
ASSETS
Loans and discounts___________________ $10,649,640.36
United States Government obligations,
direct and guaranteed --------------------2,361,553.95
Other bonds, stocks, and securities___
363,525.19
Banking house _______________________
78,000.00
Furniture and fixtures _______________
1.00
Real estate owned other than banking
house ___________
99,386.44
Reserve with Federal Reserve Bank___
823,930.04
Cash, balances with other banks, and
cash items in process of collection__
1,803,693.45
Other assets _________________________
30,010.19

Total

_______________ ____________ $16,209,740.62


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, part­
nerships, and corporations _________
Time deposits of individuals, partner­
ships, and corporations ____________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
Interest, taxes, and other expenses ac­
crued and unpaid __________________
Other liabilities ______________________
Capital account:
Common stock _____________________
Surplus ____________________________
Undivided profits ___________________
Reserve for contingencies __________
Total

$40,579.46
13,391,667.05
10,000.00
108,358.87
768,447.37
500,000.00
850,000.00
221,496.69
319,191.18

___________________________ $16,209,740.62

92

STATE BANKING DEPARTMENT
MERCHANTS BANK OF DETROIT, DETROIT.
Organized March 23, 1928.

G eo . A. B ig l e y , P r e s i d e n t ; K. E. H a ll b e r g , C h a s . A. B r a y , V i c e P r e s i d e n t s ; E. P.
H u s s e y , C a s h i e r a n d T r e a s u r e r ; C a l v in E. B e n n e r , S e c r e t a r y ; R u d o l p h J. F r a n k ,
A ssista n t

S ec reta ry

and

A ssista n t

T rea su rer.

D ir e c t o r s .-— Geo. A. Bigley, Calvin E. Benner, Chas. A. Bray, Cloud L. Cray, Emmett P.

Hussey.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $186,790.96
Cash, balances with other banks, and
cash Items in process of collection___
36,029.43
Other assets ____________________________
5,877.50

Total _____________________ _________

$228,697.89

Interest, taxes, and other expenses accrued and unpaid __________
Other liabilities ________________________
Capital account:
Common stock __________
Surplus ______________________________
Undivided profits ________________

100,000.00
100,000.00
7,591.23

Total _______________________________

$228,697.89

$7,690.20
13,416.46

THE MICHIGAN INDUSTRIAL BANK, DETROIT.
Organized September 24, 1926.
H ar v e y C. E m e r y , P r e s i d e n t ; A d o l p h F. K l e in , S e c r e t a r y - T r e a s u r e r ; J o h n N. P e t r o s k y ,
A s s i s t a n t S e c r e t a r y - T r e a s u r e r ; J a m e s D. O ’ C o n n e l l , A s s i s t a n t T r e a s u r e r .
D ir e c t o r s .— Harvey C. Emery, Alex. J. Groesbeck, A. W. Sempliner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $620,959.45
United States Government obligations,
direct and guaranteed________________
5,400.00
Other bonds, stocks, and securities_____
30,560.35
Furniture and fixtures _________________
2,590.41
Cash, balances with other banks, and
cash items inprocess of collection____
15,551.93
Investments and other assets indirectly
representing banking house or other
real estate ___________________________
1,626.15
Other assets ___________________________
1,215.15

Time deposits of individuals, partnerships,
and corporations _____________________ $388,267.56
Bills payable, rediscounts, and other lia­
bilities for borrowed money___________
10,000.00
Interest, taxes, and other expenses ac­
crued and unpaid __________
1,539.90
Other liabilities ________________________
149,032.49
Capital account:
Common stock _______________________
100,000.00
Surplus ______________________________
20,000.00
Undivided profits _____________________
2,158.95
Reserve for contingencies ____________
6,904.54

Total ------------------------------------------------ $677,903.44


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______________________________

$677,903.44

STATE BANKS OF MICHIGAN

93

UNION GUARDIAN TRUST COMPANY, DETROIT.
Organized November 24, 1890.
E r n e st C. H a r r is , P r e s i d e n t ; R a l p h E. B adger , S e n i o r V i c e P r e s i d e n t ; A. B. M c C o l l ,
S e c r e t a r y a n d T r e a s u r e r ; R u d o l p h E. H o f e l ic h , A. A. P. M a x w e l l , A. B. P f l e id e r e r ,
H ir a m H. W a l k e r , V i c e P r e s i d e n t s ; G eorge W. W i l l i a m s , H e r m a n J. K o c h , A s s i s t a n t
V i c e P r e s i d e n t s ; T h o m a s R. B o y l e , J a m e s A. P ie r c e , J. M onroe R o n e y , H o bar t D.
H o yt , H er b e r t H e n d e r so n , T r u s t O ff i c e r s ; A l v in W. B ond , I va n L. B o w m a n , W il l ia m
H. E r s k i n e , L in c o l n S a n d e l in , A s s i s t a n t S e c r e t a r i e s ; H er b e r t J. S t r a s l e r , A u d i t o r .
D ir e c t o r s .— Sherwin A. Hill, W illiam R. Kales, Ralph E. Badger, C. B. Longley, W. M.

Cornelius, John C. Lodge, Ernest C. Harris.

Statement December 31, 1938.
ASSETS

l ia b il it ie s

Advances to trusts _____________________
$3,583.55
Accounts receivable ________________
548.06
United States Government obligations,
direct and guaranteed ________ :______
961,268.76
Other bonds, stocks, andsecurities______
70,005.67
Cash, and balances with designated de­
positaries—fiduciary funds ___________ 4,479,796.44
Cash, and balances with other deposi­
taries—company funds _______________
136,460.42
Furniture and fixtures _________________
40,088.57
Other assets ___________________________
11,909.27

Fiduciary funds ____________________
$4,479,796.44
Interest, taxes, and other expenses ac­
crued and unpaid ____________________
26,504.62
Other liabilities ________________________
3,850.32
Capital account:
Common stock _______________________
500,000.00
176,000.00
Surplus ______________________________
Undivided profits _____________________
465,509.36
Reserve for contingencies_____________
52,000.00

Total --------------------------------------------,__ $5,703,660.74

Total ____________________________ __ $5,703,660.74

No. 386.
THE UNITED SAVINGS BANK OF DETROIT, DETROIT.
Organized June 30, 1907.
H e n r y M. Z i m m e r m a n , C h a i r m a n o f t h e B o a r d ; W il l i a m W. S l o c u m , P r e s i d e n t ; W i l l ia m
C. G r is w o l d , E x e c u t i v e V i c e P r e s i d e n t ; A l b e r t F. P e c k , M a y b e l C. O l iv e r , T h o m a s
E. B r y a n , V i c e P r e s i d e n t s ; G e o . M. E l l i s , W a l t e r J. G e s s e l l , A s s i s t a n t V i c e P r e s i ­
d e n t s ; W. D. M a c do n a ld , A s s i s t a n t C a s h i e r ; E dw ar d A n d e r so n , C a s h i e r a n d A u d i t o r .
D ir e c t o r s .— W illiam C. Griswold, Melvin F. Lanphar, Alfred A. Mann, Albert F. Peck,

W illiam W. Slocum, Henry M. Zimmerman, Floyd H. Nichols.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ $12,044,870.17
United States Government obligations,
direct and guaranteed ______________
6,915,406.25
Other bonds, stocks, and s e cu ritie s _
2,436,967.65
Banking house _______________________
366,023.14
Furniture and fixtures _____ ;_________
17,290.45
Real estate owned other than banking
house _____________________
88,954.55
Reserve with Federal Reserve Bank___
1,126,529.29
Cash, balances with other banks, and
cash items in process of collection ___
1,520,789.51
Other assets_____ ____________________
54,291.72

Demand deposits of individuals, part­
$304,359.64
nerships, and corporations _______ _
Time deposits of individuals, partner­
ships, and corporations _____________ 21,140,470.68
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding __
112,731.91
Interest, taxes, and other expenses ac­
crued and unpaid ___________
34,586.56
Other liabilities ______________________
7,950.06
Capital account:
First preferred s t o c k ___ ________ ,__
850,000.00
Common stock _____________________
500,000.00
Surplus ___
650,000.00
Undivided profits ___________________
500,000.00
Reserves ___________________________
471,023.88

Total --------------------------------------------- $24,571,122.73


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _____________________________ $24,571,122.73

94

STATE BANKING DEPARTMENT
No. 799.
WABEEK STATE BANK OF DETROIT, DETROIT, MICHIGAN.
Organized July 1, 1938.
Branches in Birmingham and Ferndale, Michigan.
F r a n k C o u z e n s , C h a i r m a n o f t h e B o a r d ; G eo . B. J u d so n , P r e s i d e n t ; H e n r y T . B w a l d ,
F r a n k P. E v a n s , J r ., B e n j a m in F. Sa y l o r , V i c e P r e s i d e n t s ; F red C. S c h l o r f f ,
C a s h i e r ; E van P r o w s e , L eo J. C o l e m a n , W m . E. G r is w o l d , N orbe rt H . W ie s l e r ,
A s s is t a n t C a sh iers.

D ir e c t o r s .— W. M. Cornelius, Frank Couzens, Henry T. Ewald, Leonard L. Healy, Geo.

B.

Judson, Clarence E. W ilcox, W illiam B. Yaw.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts________________
$1,973,317.33
Overdrafts ___________________________
381.29
United States Government obligations,
4,620,606.84
direct and guaranteed______________
Other bonds, stocks, and securities___
1,420,007.11
Banking house _______________________
18,776.00
27,438.23
Furniture and fixtures _______________
Cash, balances with other banks, and
cash items in process of collection __
2,110,733.58
Other assets _________________________
38,380.51

T o ta l_________ _________________ _ $10,209,640.89

Demand deposits of individuals, part­
nerships, and corporations _______
Time deposits of individuals, partner­
ships, and corporations _____________
State, county, and municipal deposits _
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding__
Interest, taxes, and other expenses ac­
crued and unpaid _______________
Other liabilities ______________________
Capital account:
Common stock _____________________
Surplus ____________________________
Undivided profits ___________________
Reserve for contingencies ____________

$4,175,331.55
1,800,010.20
2,225,042.21
397,344.83
3,792.12
10,653.15
1,200,000.00
300,000.00
77,466.83
20,000.00

Total _____________________________ $10,209,640.89

NO. 157.
THE DEXTER SAVINGS BANK, DEXTER.
Organized February 10, 1893.
W . C. W y l i e , P r e s i d e n t ; G er ald N. A l l e n , E x e c u t i v e V i c e P r e s i d e n t ; J o h n F . H o ey ,
V i c e P r e s i d e n t ; M. J. K e n n y , C a s h ie r .
D ir e c t o r s .— John F. Hoey, M. J. Kenny,

Oscar W. Mast, Thomas H. Smith, W. C.
W ylie, Jay A. Smith, Gerald N. Allen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $191,150.84
United States Government obligations,
direct and guaranteed _____
75,503.75
Other bonds, stocks, andsecurities______
44,285.46
Banking house _____
1,000.00
Furniture and fixtures__________________
3,500.00
Real estate owned other than banking
house ________
20,635.90
Cash, balances with other banks, and cash
items in process of collection_________
43,547.44

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ______________
State, county, and municipal d eposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
First preferred stock _________________
Common s to c k ________________________
Surplus _______________________________
Undivided profits _____________________

Total _________________________ ______ $379,623.39

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$87,612.57
204,194.51
16,194.94
860.72
15,000.00
40,000.00
15,000.00
760.65
$379,623.39

STATE BANKS OF MICHIGAN

95

No. 578.

THE LEE STATE BANK, DOWAGIAC.
Organized January 3, 1916.
R. D. N u g e n t ,

H . C. M o s h e r , C h a ir m a n o f t h e B o a r d .
R. M. M e r se r e a u , C a s h i e r ; A. B. L y m a n , A s s i s t a n t C a s h ie r .

P r e sid e n t;

D ir e c t o r s .— V. C. Redner, S. P. Mosher, R. D. Nugent, H. C. Mosher, John Larkin,

Mary Gray Lee, Carl Mosier.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $142,241.89
Overdrafts _____________________
203.02
United States Government obligations,
direct and guaranteed________________
135,235.07
Other bonds, stocks, and securities____
67,416.28
500.00
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____
157,313.09
Other assets ___________________________
609.24

Demand deposits of individuals, partner­
ships, and corporations ______________ $144,583.07
Time deposits of individuals, partnerships,
and corporations _____________________
159,230.39
State, county, and municipal deposits___
62,838.76
United States Government and postal
savings deposits _____
25,000.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding____
4,789.74
Capital account:
Common stock _______________________
104,400.00
Surplus _______________
1,500.00
Undivided profits _____________________
1,176.63

Total _______________________________

$503,518.59

Total _______________________________

$503,518.59

No. 142.
MONROE COUNTY BANK, DUNDEE.
Organized September 7, 1892.
H. L. M e c k ,

C h a ir m a n o f t h e B o a r d ; W. F. O v e r m e y e r , V i c e P r e s i d e n t ;
N e l l ie M il l e r , 2 n d V i c e P r e s i d e n t ; G. R. O y e r , C a s h ie r .

P r e s id e n t an d

D ir e c t o r s .— H. L. Meck, W. F. Overmeyer, Nellie Miller, Frank Zimmerman, K. H . Kyper,

H. C. W eghorst, R. C. Poucher.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts________
$167,900.38
Overdrafts _____________________________
93.78
United States Government obligations,
direct and guaranteed ________________
49,171.57
Other bonds, stocks, and securities_____
54,112.66
Banking house _________________________
4,600.00
Reserve with Federal Reserve B a n k ___
24,028.99
Cash, balances with other banks, and
cash items in process of collection____
108,316.48

Demand deposits of individuals, partner­
ships, and corporations ______________ $103,170.61
Time deposits of individuals, partnerships,
and corporations _____________________
218,462.37
State, county, and municipal d ep osits___
39,168.25
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,918.82
Capital account:
Common stock _______________________
40,000.00
Undivided profits _____________________
5,503.81

Total

______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$408,223.86

Total ______________________ ________

$408,223.86

96

STATE BANKING DEPARTMENT
No. 124.
THE SHIAWASSEE COUNTY BANK, DURAND.
Organized August 28, 1891.

C. G. B a t e s ,

V i c e P r e s i d e n t ; R e x P. T e e t e r s , C a s h i e r ;
R o bert K e r r , J r ., D e l o s s B a t e s , A s s i s t a n t C a s h ie r s .

P r e sid e n t;

F. M. H u t c h in s o n ,

D ir e c t o r s .-—C. G. Bates, Rex P. Teeters, F. M. Hutchinson, F. J. Sayre, Fred Anselm.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $186,203.71
United States Government obligations,
direct and guaranteed ________________
135,825.00
293,504.40
Other bonds, stocks, and securities____
Cash, balances with other banks, and
cash items in process of collection____
149,779.32

Demand deposits of individuals, partner­
ships, and corporations ______________ $200,799.79
Time deposits of individuals, partnerships,
and corporations _______________
408,809.81
State, county, and municipal d eposits__
90,225.29
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding ____
3,484.41
Capital account:
Common stock _______________________
25,000.00
Surplus ______________________________
35,000.00
1,322.29
Undivided p ro fits ______
Reserve for contingencies ____________
670.84

Total ------------------------------------------------

$765,312.43

Total ________________________________ _ $765,312.43

No. 601.
FIRST STATE BANK, EAST DETROIT.
Organized June 28, 1917.
M e l v in V an H o w e , C h a ir m a n o f t h e B o a r d a n d V i c e P r e s i d e n t ; H e n r y J. M o k , P r e s i d e n t ;
F red P u f f p a f f , V i c e P r e s i d e n t ; A r t h u r C. L e is e , C a s h i e r ; H arold B e r l in , A s s i s t a n t
C a sh ier.

D ir e c t o r s .— Christian M. Nill, Fred Puffpaff, Fred Susick, Sr., John C. Schmidt, Charles

Retzlaff, Henry J. Mok, John B. Nill, M. D.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $236.956.10
Overdrafts ______________________________
1.00
United States Government obligations,
direct and guaranteed ____________
164.803.28
Other bonds, stocks, and securities____
32,948.89
Furniture and fixtures _________________
1,066.16
Cash, balances with other banks, and
cash items in process of collection ___
351,699.54

Demand deposits of individuals, partner­
ships, and corporations ______________ $175,396.38
Time deposits of individuals, partnerships,
and corporations ________________
419,323.64
State, county, andmunicipaldeposits—
119,055.80
United States Government and postal sav­
ings deposits _________________________
5,350.81
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
7,442.72
and travelers’ checksoutstanding_____
Other liabilities ________________________
4,364.29
Capital account:
Common stock ____ _______________ j._
40,000.00
Surplus ______________________________
4,000.00
Undivided profits _____________________
2,737.11
Reserve for contingencies__ ___________
9,804.22

Total

-------------------------------------------------- $787,474.97


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total

________________________________

$787,474.97

STATE BANKS OF MICHIGAN

97

No. 238.
STATE BANK OF EAST JORDAN, EAST JORDAN.
Organized July 9, 1901.
W . P . P o r te r , C h a ir m a n o f t h e B o a r d .
H. P. P o r t e r , P r e s i d e n t ; W . E . M a l t a s s , V i c e P r e s i d e n t ; R o bert A . C a m p b e l l , C a s h i e r ;
H o w a r d D a r bee , W . G. B o s w e l l , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— W . P. Porter, Robert A . Campbell, W . E. Malpass, H. P. Porter, James

Gidley, John Bos, John J. Porter.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts _______________
$261,427.41
United States Government obligations,
direct and guaranteed________________
136,750.00
Other bonds, stocks, and securities_____
294,672.50
4,200.00
Banking house _________________________
Furniture and fixtures _________________
1,300.00
Real estate owned other than banking
house ________________________________
5,352.02
Cash, balances with other banks, and
155,965.50
cash items in process of collection___

Demand deposits of individuals, partner­
ships, and corporations _______________ $233,275.03
Time deposits of individuals, partnerships,
and corporations _____________________
475,504.10
State, county, and municipaldeposits___
39,664.05
United States Government and postal sav­
ings deposits____ _______
438.83
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
4,904.42
Dividends declared but not yetpayable
2,500.00
Other liabilities ________________________
5,982.36
Capital account:
Common stock _______________ ! ______
50,000.00
Surplus ______________________________
27,500.00
Undivided profits _____________________
4,898.64
Reserve for contingencies ____________
15,000.00

Total ------------------------------------------------ $859,667.43

Total _______________________________

$859,667.43

No. 583.
THE EAST LANSING STATE BANK, EAST LANSING.
Organized March 21, 1916.
A r t h u r J. C l a r k , P r e s i d e n t ; E dw ar d H. R y d e r , V i c e P r e s i d e n t ; H. S. L u c a s , C a s h ie r
a n d T r u s t O f f i c e r ; J. L e s l ie M il l e r , M ae B. W h i t e , A s s i s t a n t C a s h i e r s a n d A s s i s t a n t
T r u s t O ffic ers.

D ir e c t o r s .— Edward H. Ryder, W alter S. Foster, Edward Gibbons, Ward Giltner, O. H.

Bruegel, A rthur J. Clark, E. T. Hallman, J. H. Pennington, C. S. Smith.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $368,091.43
United States Government obligations,
160,425.00
direct and guaranteed________________
Other bonds, stocks, and securities _____
489,639.35
Furniture and fixtures _________________
6,018.35
Cash, balances with other banks, and
cash items in process of collection ___
433,626.47

Demand deposits of individuals, partner­
ships, and corporations ______________ $552,342.79
Time deposits of individuals, partnerships,
and corporations _____________________
395,599.79
State, county, and municipal deposits___
349,533.63
United States Government and postal sav­
ings deposits _________ „______________
2,235.98
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding__ __
42,046.67
Capital account:
Common stock _______________________
90,000.00
Surplus ________________________ 4_____
18,000.00
Undivided profits _____________________
7,446.24
Reserve for dividends payable in com­
mon stock __________________________
595.50

Total ------------------------------------------------ $1,457,800.60

Total __________________ ____________ $1,457.800.60


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTMENT

98

No. 740.
THE PEOPLES STATE BANK OF EAST TAWAS, MICHIGAN.
Organized May 24, 1927.
R. N. W a l l a c e ,

P r e sid e n t;

L. 6 . M c K a y ,

V ic e

P r e sid e n t;

G. N. S h a t t u c k ,

C a sh ie r ;

E s t h e r L o o k , S. A . D a l e y , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— L. G. M cKay, R. G. Schreck, Fred J. Adams, J. H. Schriber, G. N. Shattuck,

R. N. Wallace.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts
_________________ $224,269.86
81.37
Overdrafts ______________________________
United States Government obligations,
direct and guaranteed _______________ - 44,341.25
Other bonds, stocks, andsecurities______
57,180.26
Banking house ________ _________________
7,400.00
Furniture and fixtures __________ _______
3,066.00
Cash, balances with other banks, and
cash items in process of collection_____ 245,387.20

Demand deposits of individuals, partner­
ships, and corporations ______________ $213,293.93
Time deposits of individuals, partnerships,
217,877.18
and corporations _____________________
State, county, and municipal deposits___
86,909.45
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
4,497.78
Capital account:
20,000.00
First preferred stock _________________
25,000.00
Common stock _______________________
Surplus ----------------------------------------------8,500.00
Undivided profits _____________________
897.60
Reserve for contingencies ____________
2,250.00
Preferred stock retirement f u n d ______
2,500.00

Total ------------------------------------------------ $581,725.94

Total ------------------------------------------------ $581,725.94

No. 499.
THE EAU CLAIRE STATE BANK, EAU CLAIRE.
Organized March 14, 1912.
H a r r y H. H ogue , P r e s i d e n t ; A l fr e d

W. S c h il l i n g ,

V ic e

P r e s id e n t;

K. E. T atm an ,

C a sh ier.

D ir e c t o r s .— H arry

H. Hogue, Geo. R. Dater, Frank Sommer, H. H. Hoadley, K. E.
Tatman, A lfred W. Schilling, Greydon L. Dean, Forest Steimle.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $173,086.12
Overdrafts --------328.92
United States Government obligations,
direct and guaranteed___________
34,100.00
Other bonds, stocks, and securities____
58,713.17
Banking house ______
4,600.00
Furniture and fixtures_________ __ ______
1,900.00
Real estate owned other than banking
house -------------------------------------------------2,661.14
Cash, balances with other banks, and
cash items in process of collection____
119,822.89

Demand deposits of individuals, partner­
$138,611.49
ships, and corporations______ ___
Time deposits of individuals, partnerships,
and corporations _____________________
153,854.12
State, county, and municipaldeposits ___
51,299.09
United States Government and postal sav­
ings deposits _________________________
278.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
1,363.51
Capital account:
First preferred s t o c k _________________ .
20,000.00
Common stock _______________________
20,000.00
Surplus ----------------------------------------------3,000.00
Undivided profits _____________________
3,456.03
Reserves ----------------------------------------------350.00
Preferred stock retirement f u n d ______
3,000.00

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$395,212.24

Total ------------------------------------------------

$395,212.24

99

STATE BANKS OF MICHIGAN
No. 614.
ECORSE SAYINGS BANK, ECORSE.
Organized March 21. 1918.
G u y E. P o ole y , P r e s i d e n t ; E d m u n d J. D u r o c h e r , M. D., V i c e P r e s i d e n t ; C l a r e n c e R.
M ead , C a s h i e r ; L e w i s E. M e r r it t , A s s i s t a n t C a s h ie r .
D i r e c t o r s — E.

J. Durocher, Frank E. Kolb, Frank X . LeBlanc, Andrew C. Maier,
Roy W. Seavitt, J. W. Irwin, Lee Hileman, Guy E. Pooley, Ben Shwayder.

Statement December 81, 1988.
ASSETS

LIABILITIES

Loans and discounts ------------------------------ $856,026.20
Overdrafts ------215.48
United States Government obligations,
direct and guaranteed ------------------------301,478.42
Other bonds, stocks, and securities-------163,258.78
Banking house _________________________
52,130.30
Furniture and fixtures ---------------------- —
9,606.27
Reserve with Federal Reserve Bank-----124,249.60
Cash, balances with other banks, and cash
items in process of collection----- --------- 420,327.15
Other a ssets____________________________
13,500.00

Demand deposits of individuals, partner­
ships, and corporations________________ $371,947.81
Time deposits of individuals, partnerships,
and corporations ___________________
957,368.24
State, county, andmunicipaldeposits __
300,557.14
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding--------40,625.17
Other liabilities ------------------98,421.65
Capital account:
Common s to c k ------------------------------------100,000.00
Surplus --------------------30,000.00
Undivided profits --------------------------------11,829.81
Reserve for contingencies ------------------30,042.38

T o ta l___ ___________________________ $1,940,792.20

Total ______________________ - _______ $1,940,792.20

No. 753.
THE ELKTON STATE BANK, ELKTON.
Organized March 22, 1928.
F r a n k W . H ubbard , C h a i r m a n o f t h e B o a r d ; O sc a r R o ge r s , P r e s i d e n t ; J o s e p h N.
R a n k i n , E x e c u t i v e V i c e P r e s i d e n t ; J a s . L. B u r g e ss , V i c e P r e s i d e n t ; M. L . A c k e r m a n ,
C a s h i e r ; E . J. R a m s e y e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Oscar

Rogers, Frank

W . Hubbard, James L .
Joseph N. Rankin.

Burgess, M. L. Ackerman,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ------------------------------ $153,608.02
United States Government obligations,
direct and guaranteed -------------.---------48,577.50
Other bonds, stocks, and securities-------72,802.50
Banking h ou se---------------------------------------7,000.00
Furniture and fixtures---------------------------1,000.00
Cash, balances with other banks, and
cash items in process of collection -----35,764.84

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$318,752.86

Demand deposits of individuals, partner­
ships, and corporations -----------------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits —
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits --------------------------------Total

$46,721.48
224,299.89
15,608.86
922.10
20,000.00
6,000.00
5,200.53
$318,752.86

300

STATE BANKING DEPARTMENT
No. 342.
THE STATE SAVINGS BANK OF ELSIE, ELSIE.
Organized June 15, 1906.

•T. G. S h o w ,

P r e sid e n t;

D ir e c t o r s .

W. S. Lusk, J. G. Show, Ruth Lusk, Minnie A. Van Deusen, W. P. Betts.

M in n ie A . V an D eiusen , V i c e P r e s i d e n t ; W . S. L u s k , C a s h i e r ;
R u t h L u s k , A s s i s t a n t C a s h ie r .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $239,155.18
Overdrafts _________ ;____________________
104.33
United States Government obligations,
direct and guaranteed ________________
44,100.00
Other bonds, stocks, and securities_____
22^823.96
4,000.00
Banking house ___________________ :_____
Furniture and fixtures _________________
'475.00
Cash, balances with other banks, and
cash items in process of collection ___
70,643.48

Total

$381,301.95

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations______________________
State, county, and municipal deposits___
United States Government and postal
savings deposits_______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ----- --------------------------------Surplus -----------------------------------------------Undivided profits _______________
Reserve for contingencies ___________ ,
Total

$91,425.46
175 235.97
62^506.73
400.00
8,348.66
30,000.00
10,000.00
1,885.13
1,500.00
$381,301.95

No. 619.
THE CITIZENS STATE BANK OF EMMETT, EMMETT.
Organized March 29, 1918.
A n d re w N o la n , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; P ete r J. G ra ce , V i c e P r e s i d e n t ;
P. V . M c C a b e , C a s h i e r ; M ar ga ret G l e a so n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Andrew

Nolan,

Peter J.

Grace, Frank
Stapleton.

Keough, Eph.

Dunsmore,

Martin

Statement December 31, 1938.
ASSETS
Loans and discounts ___________________
Overdrafts ______________________________
United States Government obligations,
direct and guaranteed
______________
Other bonds, stocks, andsecurities______
Banking house --------Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection ____
Other assets
_______________

LIABILITIES
$117,543.84
107A8
75,115.00
581841.04
3,500.00
1,800.00
80,176.55
913.41

Total ------------------------------------------------ $337,997.02


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations---------------------------------State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
First preferred stock _________________
Common s to c k ----------------------- ;________
Surplus --------Undivided profits _____________________
Total ---------------------------------i.________

$55,283.45
196,634.33
43,723.81
1,121.73
20,000.00
20,000 00
19.28
1,214.42
$337,997.02

101

STATE BANKS OF MICHIGAN
No. 508.
THE EMPIRE STATE BANK, EMPIRE.
Organized May 1, 1912.

F r a n k l in G. P e c k , P r e s i d e n t ; P au l E. S m i t h , M a r t in B r o w n , V i c e P r e s i d e n t s ; G eo .
J o h n s o n , C a s h i e r ; M er e ta R o h r , A s s i s t a n t C a s h i e r ; L. H. S taceiy , A u d i t o r .
D ir e c t o r s .— Leo

H. Stacey, Franklin G. Peck, Geo. Johnson, Paul E. Smith, Martin
Brown.

Statement December 81, 1938.
LIABILITIES

ASSETS
Loans and discounts ------------------$139,791.12
United States Government obligations,
direct and guaranteed_____ ,----------------27,525.00
12,509.00
Other bonds, stocks, andsecurities--------Banking h ou se------------:---------------------------2,000.00
Furniture and fixtures --------------------------600.00
Real estate owned other than banking
house _________________________________
4,648.98
Cash, balances with other banks, and
cash items in process of collection ------73,284.68

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations_________
Time deposits of individuals, partnerships,
and corporations______________________
State, county, and municipal deposits----Dividends declared but not yet payable __
Other liabilities--------------------------------------Capital account:
First preferred s to c k __________________
Common s to c k ________________________
Undivided profits --------------------------------Preferred stock retirement fu n d ----------Total _______________________________

$260,358.78

$60,592.70
135,501.38
26,096.96
350.00
3,499.54
20,000.00
10,000.00
2,518.20
1,800.00
$260,358.78

No. 299.
THE STATE SAVINGS BANK OF ESCANABA, MICHIGAN.
Organized November 2, 1904.
W. R . S m i t h ,

O. N. H u g h i t t , A. J. Y o u n g , V i c e P r e s i d e n t s ; W m . W a r m t h e B o a r d a n d C a s h i e r ; E . O. P er r o n , C. R . W i c k m a n , N. P.

P r e s id e n t;

in g t o n , S e c r e t a r y o f
J en sen , A s s is t a n t C a sh iers.

D ir e c t o r s .— W. R. Smith, O. N. Hughitt, A. J. Young, Wm. W armington, C. E. Lewis,

H. Q. Groos, J. R. Charlebois.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ------------------------------ $448,796.17
Overdrafts ______________________________
29.66
United States Government obligations,
direct and guaranteed----- -------------------- 413,600.00
Other bonds, stocks, and securities -------887,111.73
Banking house --------------------------------------33,000.00
Furniture and fixtures --------------------------6,500.00
Real estate owned other than banking
house _________________________________23,487.01
Reserve with Federal Reserve B a n k -------158,964.50
Cash, balances with other banks, and
cash items in process of collection------- 204,141.67

Demand deposits of individuals, partner­
ships, and corporations_______________ $328,653.07
Time deposits of individuals, partnerships,
and corporations _____________________ 1,449,483.42
State, county, and municipal deposits---153,421.26
United States Government and postal
savings deposits ______________________
31,100.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding------10,857.62
Capital account:
Second preferred stock------------------------30,000.00
Common stock -----------------------------------100,000.00
S u r p lu s _-____________________________
20,000.00
Undivided profits _____________________
24,615.37
Reserve for contingencies--------------------27,500.00

Total _______________________________ $2,175,630.74

Total _______________________________ $2,175,630.74


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

102

STATE BANKING DEPARTMENT
No. 553.
THE STATE BANK OF EWEN, EWEN.
Organized October 6, 1914.

E. J. H u m p h r e y ,

P r e sid e n t;
C a sh ier;

D ir e c t o r s .— E.

E d w . E r ic k s o n , V i c e P r e s i d e n t ; A n d r e w M. A n d er so n ,
J o h n E. H u m p h r e y , A s s i s t a n t C a s h ie r .

J. Humphrey, J. P. Foglesong, Andrew M. Anderson, Edw. Erickson,
Anton Malnar, J. H. Wilson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $136,585.62
Overdrafts _____________________________
54.86
United States Government obligations,
direct and guaranteed ________________
45,801.56
Other bonds, stocks, and securities_____
64,108.00
20,000.00
Banking house _________________________
Furniture and fixtures__________________
4,000.00
Real estate owned other than banking
2,923.81
house ________________________________
Reserve with Federal Reserve Bank______
38,843.04
Cash, balances with other banks, and
cash items in process of collection____
67,362.31
Other assets ___________________________
198.59
Total ------------------------------------------------

$379,877.79

Demand deposits of individuals, partner­
ships, and corporations______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock ____ ___ _____ ._________
Undivided profits _____________________

$80,865.87
201,855.45
44,368.45
836.91
25,000.00
25,000.00
1,951.11

Total ------------------------------------------------ $379,877.79

No. 788.
THE FARMINGTON STATE BANK, FARMINGTON.
Organized April 25, 1934.
H o w a r d M. W a r n e r , P r e s i d e n t ; Z ae R. A s c h e n B r e n n e r , V i c e P r e s i d e n t ; H o w ar d C.
K n ic k e r b o c k e r , C a s h i e r ; B yro n E . L a p h a m , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Howard M. W arner, Zae R. AschenBrenner, Floyd H. Nichols, Emory

O.

Hatton, Bruce S. Dickie, Howard C. Knickerbocker.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $462,913.85
United States Government obligations,
direct and guaranteed ________________
166,634.36
Other bonds, stocks, andsecurities_______ 165,972.68
Furniture and fixtures ____________
6,783.28
Reserve with Federal Reserve Bank_____
73,058.31
Cash, balances with other banks, and
cash items in process of collection____
89,510.85
Other assets ____________________________
158.16

Demand deposits of individuals, partner­
ships, and corporations ______________ $268,325.68
Time deposits of individuals, partnerships,
and corporations _____________________
385,715.63
State, county, and municipal deposits____
189,610.20
United States Government and postal
savings deposits ______________________
10,471.12
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
20,914.12
Other liabilities ________________________
5,994.57
Capital account:
First preferred stock _________________
17,500.00
Common stock _______________________
25,000.00
Surplus ----------------------------------------------19,500.00
Undivided profits _____________________
6,287.35
Reserve for contingencies_____________
13,812.82
Preferred stock retirement fund_______
1,900.00

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$965,031.49

Total ------------------------------------------------ $965,031.49

103

STATE BANKS OF MICHIGAN
No. 629.
THE HARWELL STATE SAYINGS BANK, FARWELL.
Organized July 5, 1919.

G erald E. L a m b , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; E d w a r d B. G l a s s , 1 s t V i c e
P r e s i d e n t ; C h a s . A. G r a h a m , 2 n d V i c e P r e s i d e n t ; F r a n k l in F. L it t l e f ie l d , 3 r d V ic e
P r e s i d e n t ; A l l e n R. G r a h a m , C a s h i e r ; B ernard S c h o f ie l d , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Allen R. Graham, Edward

B. Glass, Gerald E. Lamb, Chas. A. Graham,
Bernard Schofield, Franklin F. Littlefield.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts--------------------------------- $113,913.97
Overdrafts _____________________________
28.21
United States Government obligations,
direct and guaranteed ------------------------15,000.00
16,750.00
Other bonds, stocks, and securities----- Banking house --------------------------------------2,400.00
Furniture and fixtures _________________
1,600.00
Cash, balances with other banks, and
cash items in process of collection------47,103.14

Total _______________________________

$196,795.32

Demand deposits of individuals, partner­
ships, and corporations ---------------------Time deposits of individuals, partnerships,
and corporations --------------------------------State, county, and municipal deposits----Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
First preferred stock _________________
Common stock -----------------------------------Surplus -----------Undivided profits --------------------------------Reserves _____________________________
Preferred stock retirement fund-------Total _______________________________

$33,975.01
104,941.55
25,458.03
1,649.79
10,000.00
10,000.00
5,000.00
3,450.09
175.00
2,145.85
$196,795.32

No. 215.
THE OLD STATE BANK, FENNYILLE.
Organized March 14, 1899.
M.

C.

H u t c h in s o n , P r e s i d e n t ; P ete r H. B rob , V i c e P r e s i d e n t ; W . J. H u t c h in s o n ,
C a s h i e r ; M. S. H u t c h in s o n , N e l so n M. W a r r e n , A s s i s t a n t C a s h i e r s .

D ir e c t o r s .— M. C. Hutchinson, W. J. Hutchinson, M. S. Hutchinson, Peter H. Broe,

L. E. Becher.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $178,974.71
United States Government obligations,
direct and guaranteed----- ------------------84,500.00
63,451.00
Other bonds, stocks, and securities-------Banking house _________________________
26,552.76
Furniture and fixtures _______________ —
5,000.00
Reserve with Federal Reserve Bank_____
148,244.20
Cash, balances with other banks, and
cash items in process of collection-----58,390.53

Demand deposits of individuals, partner­
ships, and corporations_______________ $173,235.63
Time deposits of individuals, partnerships,
and corporations _____________________
281,899.71
State, county, and municipal deposits----32,893.34
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------2,290.26
Capital account:
Common stock ______________________ 50,000.00
Surplus ______________ ________________
20,000.00
Undivided profits _____________________
4,644.26
Reserve for contingencies ------------------150.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$565,113.20

Total _______________________________

$565,113.20

104

STATE BANKING DEPARTMENT
No. 209.
STATE SAYINGS BANK OF FENTON, FENTON.
Organized September 15, 1898.

G eorge G r e e n , P r e s i d e n t ;

E. C. R e id , V i c e P r e s i d e n t a n d C a s h i e r ; R o bert P . S m i t h ,
O t i s E. F u r m a n , A s s i s t a n t C a s h ie r s .

D ir e c t o r s .— George W. Pellett, Dennis E. Kelleher, Charles Rolland, Louis Riedel, John

Jennings, H. W. Hitchcock, George W. Cook, George Green, E. C. Reid.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $477,031.82
Overdrafts _____________________________
’ 36.42
United States Government obligations,
195,107.10
direct and guaranteed _______________
Other bonds, stocks, andsecurities_______ 239,210.72
Banking house __________ „_______ _____
17,191.00
Furniture and fixtures _________________
5,'l50.00
81,831.29
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
134,247.35

Demand deposits of individuals, partner­
ships, and corporations _______________ $272,190.56
Time deposits of individuals, partnerships,
and corporations _____________________
701,016.29
State, county, and municipal deposits___
74,538.65
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
12,147.80
and travelers’ checks outstanding____
Capital account:
First preferred stock _________________
30,000.00
50,000.00
Common stock _______________________
Surplus ----------------------------------------------6,000.00
Undivided profits __________
1,387.40
Preferred stock retirement fund_______
2,525.00

Total ------------------------------------------------$1,149,805.70

T o t a l ----- ------------------------------------------$1,149,805.70

No. 495.
THE STATE SAVINGS BANK OF FLAT ROCK, FLAT ROCK.
Organized October 26, 1911.
J o h n C. N ea r , P r e s i d e n t j P r a n k S. P e t e r s , C. D. A usum , V i c e P r e s i d e n t s ; J. P r a n k
M orford , C a s h i e r ; B. B. W a l e s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— John C. Near, Prank S. Peters, C. D. Ausum, George W. VanRiper, Julius

Neifert, O. H. Ruettinger, August L. Bunte.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $171,053.96
United States Government obligations,
______________
123,000.00
direct and guaranteed
Other bonds, stocks, andsecurities_______
37,000.00
Banking house _________________________
12,000.00
Furniture and fixtures _________________
2,000.00
Cash, balances with other banks, and
cash items in process of collection_____
68,493.49

Total ------------------------------------------------ $413,547.45


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus _________________
Undivided profits _____________________
Reserve for contingencies______________

$94,100.74
202,342.61
49,965.34
1,865.12
8,000.00
50,000.00
2,000.00
3,573.64
1,700.00

Total ------------------------------------------------ $413,547.45

105

STATE BANKS OF MICHIGAN
No. 101.
CITIZENS COMMERCIAL & SAVINGS BANK, FLINT.
Organized July 19, 1890.
Four Branches in Flint.
One Branch in Mt. Morris.
J. E. B u r r o u g h s ,

P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; E r n e s t W. P o t t e r , E x e c u t i v e
V i c e P r e s i d e n t ; A l l e n T. S m i t h , L. A. C a m b r e y , V i c e P r e s i d e n t s a n d T r u s t O ff i c e r s ;
W il l i a m V e i t , W. S. B a l l e n g e r , A r t h u r H. S a r v i s ., V i c e P r e s i d e n t s ; G ordon A.
F l e m in g , A l l e n C. P o h l y , F red R. E l l io t t , J r ., E d w ar d E. G r o e h s l , G eorge J.
R u s k a , A s s i s t a n t V i c e P r e s i d e n t s ; L eo E. K a n g a s , C a s h i e r ; M e l v in R. P r ie s t l e y ,
A u d i t o r ; G eorge B . L e a c h , B e r t h a M. S h e p n e r , J a m e s R . B u r r o u g h s , A s s i s t a n t
C a s h i e r s ; J. G uy B l a c k in t o n , A s s i s t a n t T r u s t O fficer.
D ir e c t o r s .— J. E. Burroughs, Harry Winegarden, Chas. H. Miller, W illiam S. Ballenger,

Fred B. E lliott, Homer J. McBride, Edwin S. Lunt, W illiam Veit, Arthur H. Sarvis,
Ernest W. Potter.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts.-!__________ ____ _$8,248,661.99
401.87
Overdrafts ___________________________
United States Government obligations,
direct and guaranteed___ !__________
5,383,325.00
Other bonds, stocks, and securities___
2,042,813.07
Banking house _______________________
623,692.26
Furniture and fixtures _______________
19,683.50
Real estate owned other than banking
house ______________________________
110,004.83
Reserve with Federal Reserve Bank___
2,020,375.65
Cash, balances with other banks, and
cash items in process of collection__
3,194,321.14
Other assets__________________________
188,686.15

Demand deposits of individuals, part­
nerships, and corporations___ $5,461,131.50
Time deposits of individuals, partner­
ships, and corporations _____________
12,582,044.07
State, county, and municipal deposits— 1,656,435.84
United States Government and postal
savings deposits ____________________
53,093.78
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
284,665.33
Dividends declared but not yet payable
20,000.00
Other liabilities ____________________________ 19,802.89
Capital account:
First preferred stock _______________
500,000.00
500,000.00
Common stock _____________________
Surplus _____________
500,000.00
154,324.90
Undivided profits___________
Reserve for contingencies____
77,967.15
Preferred stock retirement fund____
22,500.00

Total _____________________________ $21,831,965.46

Total _____________________________ $21,831,965.46

No. 23.
THE GENESEE COUNTY SAVINGS BANK, FLINT.
Organized May 1, 1872.
One Branch.
A . G. B is h o p , C h a ir m a n o f t h e B o a r d .
H a r l o w H. C u r t ic e , P r e s i d e n t ; R. S. B i s h o p , C h a ir m a n o f . E x e c u t i v e C o m m i t t e e ; G. E.
M e r r il l , E x e c u t i v e V i c e P r e s i d e n t ; J a m e s M a r t i n , L. H. B r id g m a n , V i c e P r e s i d e n t s ;
G. W. O ’N e i l , V i c e P r e s i d e n t a n d C a s h i e r ; M. T. P o l l e y , L. L. S im o n s , A s s i s t a n t
C a s h i e r s ; G. I. M a g in n , A u d i t o r .
D ir e c t o r s .— LeRoy F. Ball, A. G. Bishop, R. S. Bishop, L. H. Bridgman, H. H. Curtice,

H.

G. Gault, James Martin, G. E. Merrill, Wm. A. Neithercut.

Statement December 31, 1938.
ASSETS
Loans and discounts___________________
Overdrafts ___________________________
United States Government obligations,
direct and guaranteed ______________
Other bonds, stocks, and s e cu ritie s _
Banking house _______________________
Furniture and fixtures _______________
Reserve with Federal Reserve Bank__
Cash, balances with other banks, and
cash items in process of collection__
Cash items not in process of collection
Other assets _________________________

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$2,282,193.95
374.65
1,400,174.57
3,288,556.37
400,000.00
12,000.00
1,377,377.42
1,634,199.89
20.10
1,637.33

$10,396,534.28

Demand deposits of individuals, part­
nerships, and corporations__________ $2,732,859.86
Time deposits of individuals, partner­
ships, and corporations _____________
4,945,862.27
State, county, and municipaldeposits— 1,030,041.25
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
186,906.76
Other liabilities ______________________
124,604.50
Capital account:
Common stock _____________________
1,000,000.00
Surplus ____________________________
300,000.00
Undivided p ro fits ___________________
25,257.27
Reserve for contingencies___________
51,002.37
Total

$10,396,534.28

STATE BANKING DEPARTMENT

106

TH E M ERCHANTS & MECHANICS BANK OF FLINT, FLINT.
Organized July 28, 1927.
J o s e p h H . C r a w f o r d , P r e s i d e n t ; F red A . A l d r ic h , V i c e P r e s i d e n t ; L lo yd H . D r a k e ,
E x e c u t i v e V i c e P r e s i d e n t ; H om e r E. W il t , C a s h i e r ; H. P. Z im m e r m a n , W. N. S h edd ,
A s s i s t a n t C a s h i e r s ; M ar ga ret B . R a m o t h , A u d i t o r .
D ir e c t o r s .— Joseph H. Crawford, Lloyd H. Drake, Fred S. Flick, H. M. Comins, Fred A.

Aldrich, Homer E. W ilt, Charles D. Crawford, Phil J. Braun.

Statement December 31, 1938.
LIABILITIES

ASSETS

Time deposits of individuals, partnerships,
Loans and discounts--------------------------------- $1,355,456.68
and corporations _____________________ $3,230,980.10
United States Government obligations,
State, county, and municipal deposits----50,464.73
direct and guaranteed ------------------------- 1,013,600.00
Deposits of other banks, certified and
Other bonds, stocks, and securities---------------------------747,002.90
cashier’s
checks,
cash
letters
of
credit
Banking house _________________________
102,550.00
53,623.93
and travelers’ checks outstanding_____
Furniture and fixtures --------------------------24,613.57
Dividends declared but not yet payable—
5,000.00
Real estate owned other than banking
Other liabilities ------------39,696.28
1,942.98
house ________________________________
Capital account:
Cash, balances with other banks, and
250,000.00
Common stock _______________________
cash items in process of collection________________ 398,138.91
Surplus ____________________________ —
55,000.00
Other assets------------------49,527.05
Undivided profits --------------------------------3,188.55
4,878.50
Reserve for contingencies_____________
$3,692,832.09

Total

$3,692,832.09

Total

No. 126.

THE FIRST STATE & SAVINGS BANK OF FLUSHING, FLUSHING.
Organized November 12, 1891.
A r t h u r K l e i n p e l l , P r e s i d e n t ; E. L. C o r n w e l l , C h a i r m a n o f t h e B o a r d a n d V i c e P r e s i ­
d e n t ; C. P. R o w e , C a s h i e r ; K e i t h R. B a il e y , M. S. P a y t a s , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— Arthur Kleinpell, C. P. Rowe, Geo. Packard, E. L. Cornwell, James Martin,

C.

F. Luce, W illiam Minard, A. Phillips.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $311,952.48
United States Government obligations,
direct and guaranteed________________
147,000.00
Other bonds, stocks, andsecurities-----------31,800.00
Banking house ------------------------------------—
26,400.00
Furniture and fixtures --------------------------4,800.00
Real estate owned other than banking
house ---------8,943.50
Cash, balances with other banks, and
cash items in process of collection--------61,874.78
Securities borrow ed--------------------------------1,650.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$594,420.76

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ___________________ —
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Dividends declared but not yet payable—
Other liabilities ------------------------------------Capital account:
First preferred stock _________________
Common stock ---------Surplus ______________________________
Undivided profits --------------------------------Reserve for contingencies_____________
Preferred stock retirement fund----------Total _______________________________

$80,932.54
369,234.27
24,669.03
5,647.75
80.00
1,650.00
27,184.00
55,000.00
16,000.00
10,939.17
3,000.00
84.00
$594,420.76

107

STATE BANKS OF MICHIGAN
No. 223.
THE PEOPLES STATE BANK OF FLUSHING, MICHIGAN.
Organized March 10, 1900.
F. W . H e r t r ic h ,

G eorge L. B o w e r , V i c e P r e s i d e n t ; M ylo R a g an , C a s h i e r ;
P a u l G. S h e p a r d , A s s i s t a n t C a s h ie r .

P r e s id e n t;

D ir e c t o r s .— F. W. Hertrich, George L. Bower, Henry Brophy, Harry L. Mann, Paul D.

Bueche, Paul G. Shepard, Mylo Ragan.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $139,917.23
United States Government obligations,
direct and guaranteed________________
53,635.01
101,800.65
Other bonds, stocks, andsecurities______
Banking house — ---------------------------------4,500.00
Furniture and fixtures ------500.00
Cash, balances with other banks, and
cash items in process of collection-------63,483.59
1,232.50
Other assets ___________________________

Total _______________________________

$365,068.98

Demand deposits of individuals, partner­
ships, and corporations-------------- ----------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock _____________________,—
Surplus ______________________________
Undivided profits ______________
Reserve for contingencies ____________
Total _______________________________

$50,689.18
239,584.31
31,528.07
1,586.10
25,000.00
5,000.00
10,331.32
1,350.00
$365,068.98

NO. 454.
FOUNTAIN STATE BANK, FOUNTAIN.
Organized November 3, 1909.
H en ry C. A r p , P r e s i d e n t ; F red W. R e e k , V i c e P r e s i d e n t ; H. J. G r e go ry , C a s h i e r a n d
T ru st

O fficer.

D ir e c t o r s .— Fred W . Reek, H. J. Gregory, Henry C. Arp, C. M. Spencer, M. B. Danaher.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------United States Government obligations,
direct and guaranteed ------------------------Other bonds, stocks, and securities-------Banking house _________________________
Furniture and fixtures _________________
Reserve with Federal Reserve Bank-------Cash, balances with other banks, and
cash items in process of collection------Other assets--------------------------------------------

$82,764.67

Total _______________________________

$176,207.88


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

20,100.00
8,643.00
2,000.00
500.00
50,878.34
10,921.87
400.00

Demand deposits of individuals, partner­
ships, and corporations _______________
$32,033.38
Time deposits of individuals, partnerships,
and corporations ____________________
95,065.58
State, county, andmunicipal deposits____
15,927.23
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding--------297.00
Other liabilities ________________________
400.00
Capital account:
Common stock _______________________
25,000.00
Surplus ______________________________ *
6,500.00
Undivided profits--------------------------------984.69
Total _______________________________

$176,207.88

108

STATE BANKING DEPARTMENT
No. 141.
THE STATE SAVINGS BANK, FOWLER.
Organized August 7, 1892.

F r a n k G. W h it t a k e r , P r e s i d e n t ; J o h n K r a m e r , V i c e P r e s i d e n t ; R. P . T h e l e n , C a s h i e r ;
F red H . T ie d t , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Frank G. W hittaker, Wm. M. Leucht, R. P. Thelen, Wm. Davarn, Charles A.

Martin, John Kramer, Henry Cook, M. D.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $212,032.38
Overdrafts _____________________________
81.27
United States Government obligations,
direct and guaranteed________________
139,244.02
Other bonds, stocks, and securities____
152,287.03
7,000.00
Banking h ou se__________________________
Furniture and fixtures__________________
750.00
Cash, balances with other banks, and
cash items in process of collection____
122,821.64
Other assets_____ ______________
1,035.49

Demand deposits of individuals, partner­
ships, and corporations_______________ $167,298.03
Time deposits of individuals, partnerships,
and corporations ____________________
373,413.23
State, county, andmunicipal deposits____
36,500.07
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
572.91
and travelers’ checksoutstanding______
Other liabilities ________________________
3,680.84
Capital account:
Common stock _______________________
50,000.00
Undivided profits _____________________
3,357.24
Reserve for contingencies_____________
429.51

Total _______________________________

$635,251.83

Total ------------------------------------------------ $635,251.83

No. 293.
THE STATE BANK OF FOWLERVILLE, FOWLERVILLE.
Organized June 1, 1904.
J o h n C. E l l s w o r t h , P r e s i d e n t ; R. C. S m i t h , V i c e P r e s i d e n t ; E l is a b e t h
C a s h i e r ; H ulda M. E u pe r , A s s i s t a n t C a s h ie r .

S c h n e id e r ,

D ir e c t o r s .— John C. Ellsworth, R . C. Smith, Claude D. Hamilton, Lewis H. Cooper, J. G.

Horton, Elisabeth Schneider.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities_____
Cash, balances with other banks, and
cash items in processof collection______
Other assets ___________________________

Total __________________ _____________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$56,290.00
89,000.00
119,250.00
159,991.13
3.04

$424,534.17

Demand deposits of individuals, partner­
ships, and corporations _______________ $171,681.32
Time deposits of individuals, partnerships,
and corporations _______________ :_____
138,258.23
State, county, and municipal deposits___
38,515.75
Capital account:
Common stock ____
50,000.00
Surplus _______________________________
20,800.00
Undivided profits _____________________
5,278.87
Total _______________________________

$424,534.17

STATE BANKS OF MICHIGAN

109

No. 450.
FRANKENMUTH STATE BANK, FRANKENMUTH.
Organized March 21, 1910.
O tto T r i n k l e i n , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; J o h n L. G e y e r , L o ren z C. L i s t ,
V i c e P r e s i d e n t s ; R . W. K e r n , C a s h i e r ; E m i l R u m m e l , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— John

L. Geyer, Paul Kahn, Lorenz C. List, Carl Nuechterlein, E. A.
Pillsbury, Jacob Rummel, John G. Schwab, S. A. Sommers, W illiam Stromer, Otto
Trinklein, Ferdinand Weiss, R. W. Kern.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $830,834.94
Overdrafts _____________________________
214.91
United States Government obligations,
direct and guaranteed________________
452,131.27
Other bonds, stocks, andsecurities_______ 454,186.84
Banking house _________________________
8,500.00
Furniture and fixtures ___
3,500.00
178,741.17
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
182,449.10
Cash items not in process of collection—
1,183.82

Demand deposits of individuals, partner­
ships, and corporations _______________ $386,734.28
Time deposits of individuals, partnerships,
and corporations ______ _______________ 1,418,751.28
State, county, and municipal deposits___
87,263.63
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10,025.82
Capital account:
Common stock ____________
117,000.00
Surplus ______________________________
47,500.00
21,648.50
Undivided profits _____________________
Reserve for contingencies _____________
22,818.54

Total _______________________________ $2,111,742.05

Total _______________________________ $2,111,742.05

No. 229.
STATE SAYINGS BANK, FRANKFORT, MICH.
Organized January 30, 1901.
N. E. S a y l e s ,

P r e sid e n t;

D eo C o u r v il l e , V i c e P r e s i d e n t ; L. D. R o s e , C a s h i e r ; L o is
M o r r is s e y , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— L. D. Rose, R. R. Pautz, N. E. Sayles, Roy Collins, Wm. R. Olsen, O. T.

Larson, Deo Courville, F. R. Thacker, Percy Smeltzer, E. C. Kilian.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $281,515.43
Overdrafts _____________________________
4.76
United States Government obligations,
direct and guaranteed______ _________
28,000.00
Other bonds, stocks, and securities_____
23,012.50
Banking house _______________
5,800.00
Furniture and fixtures _________________
2,400.00
Real estate owned other than banking
house ________________________________
900.00
Cash, balances with other banks, and
cash items in process of collection____
174,715.85

Demand deposits of individuals, partner­
ships, and corporations____________ — $174,172.07
Time deposits of individuals, partnerships,
and corporations _____________________
246,751.55
State, county, and municipal deposits____
48,924.18
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding _____
759.42
Capital account:
First preferred stock
______________
20,000.00
Common stock _______________________
25,000.00
Undivided profits _____________________
741.32

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$516,348.54

Total _________________________ :_____

$516,348.54

110

STATE BANKING DEPARTMENT
No. 461.
THE STATE BANK OF. FRASER, FRASER.
Organized July 10, 1910.

H e n ry

J. B o h n ,

C h a i r m a n o f t h e B o a r d ; W il l i a m L. H a r t s ig , V i c e
T heodore B o h n , C a s h i e r ; E. A. S c h w a r z k o f f ., A u d i t o r .

P r e s id e n t

P r e s id e n t;

and

D ir e c t o r s .— Henry

J. Bohn, Joseph Couchez, W illiam L. Hartsig, Leonard
Charles A. Retzlaff, E. A. Schwarzkoff, Fred Boeckenhauer.

Miesel,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $189,762.42
Overdrafts _____________________________
11.65
United States Government obligations,
86,649.03
direct and guaranteed _______________
Other bonds, stocks, and securities_____
88,938.60
Banking house _________________________
12,500.00
Furniture and fixtures _________________
2,500.00
Cash, balances with other banks, and
91,556.06
cash items in process of collection____

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, and municipal deposits____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities ________________________
Capital account:
Common stock _______________________
Undivided profits _____________________
Reserve for contingencies_____________

Total ------------------------------------------------ $471,917.76

$56,349.75
270,251.14
89,780.06
11,088.86
1,060.21
32,100.00
5,000.00
6,287.74

Total ------------------------------------------------ $471,917.76

No. 654.
FREELAND STATE BANK, FREELAND.
Organized January 16, 1920.
Charles

W olohan,

C l if t o n R e a v e y , C a s h i e r ; R o b e r t T . S a r l e ,
L a u t e r b a c h , V i c e P r e s i d e n t s ; H a r r ie t E . R e a v e y , A s s i s t a n t C a s h ie r .
P r e s id e n t;

J ohn

D ir e c t o r s .— Charles W olohan, Robert T. Sarle, John Lauterbach, C lifton Reavey, Harriet

E. Reavey.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $110,954.35
Overdrafts _____________________________
3.41
United States Government obligations,
direct and guaranteed ________________
33,625.00
Other bonds, stocks, and securities_____
58,466.07
Banking house _________________________
1,132.50
Furniture and fixtures________ _________
1,067.50
Cash, balances with other banks, and
cash items in process of collection____
57,008.27

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$262,257.10

Demand deposits of individuals, partner­
ships, and corporations_____________._
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits_____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities ________________________
Capital account:
Common stock _______________________
Undivided profits _____________________
Total _______________________________

$58,540.90
163,933.56
6,960.20
1,345.58
832.94
25,000.00
5,643.92
$262,257.10

STATE BANKS OF MICHIGAN

111

No. 297.
THE FREMONT STATE BANK, FREMONT.
Organized May 24, 1904.
M ilo A. W h i t e , P r e s i d e n t ; H ar ry D. R eb er , V ic e P r e s i d e n t ; C lar e K e m p f , C a s h i e r ;
R ic h a r d D obbe n , P r a n k H . M a r s h , A s s i s t a n t C a s h i e r s .
D ir e c t o r s , — Milo A. W hite, May Kem pf, Clare Kem pf, Lambert Geerlings, Charles O.

W hite, Harry D. Reber.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $223,391.00
Overdrafts ________ ,------------------------------75.81
United States Government obligations,
136,275.00
direct and guaranteed________________
Other bonds, stocks, and securities_____
150,323.87
Banking house ___________________
29,000.00
7,000.00
Furniture and fixtures _________________
Real estate owned other than banking
house ________________________________
9,033.14
36,678.47
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
139,803.52

Demand deposits of individuals, partner­
ships, and corporations ______________ $122,076.51
Time deposits of individuals, partnerships,
and corporations _______________ ,_____
484,387.53
State, county, and municipal deposits___
62,723.60
United States Government and postal
savings d ep osits____ __________________
8,760.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,114.65
Capital account:
Common stock _______________________
50,000.00
Undivided profits ___________________ __
2,518.52

Total _______________________________

Total ------------------------------------------------ $731,580.81

$731,580.81

No. 345.
THE OLD STATE BANK OF FREMONT, FREMONT.
Organized July 13, 1906.
C o r n e l iu s G e r b e r , C h a i r m a n o f t h e B o a r d .
D. D. A l t o n , P r e s i d e n t ; F r a n k G e r ber , V i c e P r e s i d e n t ; T h eodore I. P r y , V i c e P r e s i d e n t ;
H e r m a n S c h u it e m a n , C a s h i e r ; M a r s h a l l H . P e l l e g r o m , A s s i s t a n t C a s h i e r ; B ert
V an de r M e u l e n , A s s i s t a n t C a s h i e r a n d A u d i t o r .
D ir e c t o r s .— Prank Gerber, T. I. Pry, Wm. H. Barnum, Wm. J. Branstrom, Cornelius

Gerber, Wm. N. Senf, Dallas D. Alton, Herman McKinley, Herman Schuiteman.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $361,389.30
Overdrafts -------------- ------------------------------61.89
United States Government obligations,
direct and guaranteed------------------------120,508.97
Other bonds, stocks, and securities_____
148,619.01
Banking house _________________________
27,300.00
Furniture and fixtures _________________
3,590.00
Reserve with Federal Reserve Bank_____
64,924.45
Cash, balances with other banks, and
cash items in process of collection------73,546.81

Demand deposits of individuals, partner-'
ships, and corporations_______________ $220,878.41
Time deposits of individuals, partnerships,
and corporations _____________________
393,558.35
State, county, and municipal deposits___
50,979.59
United States Government and postal
savings deposits ______________________
23,462.50
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,105.50
Capital account:
Common stock _______________________
61,725.00
Surplus ______________________________
18,275.00
Undivided profits _____________________
24,956.08

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$799,940.43

Total

$799,940.43

132

STATE BANKING DEPARTMENT
No. 362.
THE STATE SAVINGS BANK OF GAGETOWN, GAGETOWN.
Organized February 6, 1907.

J.

L. P u r d y ,

L. C. P u r d y , V i c e P r e s i d e n t ; E d it h
E. M il d e r , C a s h i e r ; D. G. W id s o n , A s s i s t a n t C a s h ie r .

P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ;

D ir e c t o r s .— J. L. Purdy, L. C. Purdy, D. G. W ilson, C. O. Purdy, P. D. Hemerick.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Real estate owned other than banking
house ________________________________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection_____
Cash items not in process of collection_

$95,786.00
31.48

Total ------------------------------------------------

$257,249.69

23,650.75
70,423.67
5,000.00
950.00
315.00
32,749.14
28,187.23
156.42

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits____
United States Government and postal
savings deposits ______________________
Dividends declared but not yetpayable-^
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Reserves _________________ ____________
Preferred stock retirementfund________

$47,849.56
133,876.76
31,589.11
200.81
1,000.00
6,500.00
25,000.00
8,200.00
920.15
113.30
2,000.00

Total ------------------------------------------------ $257,249.69

No. 426.
THE GALESBURG STATE BANK, GALESBURG.
Organized February 13, 1909.
C. C. C l a p p ,

P r e s id e n t;

P a u l T. C l a p p , V i c e P r e s i d e n t ; L ou is D u n n , C a s h i e r ; H e le n a
S p ie r , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— C. C. Clapp, Louis Dunn, Paul T. Clapp, J. Frank Austin, Harry W. Burgess,

C.

L. Schroder, G. T. Aim.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $132,450.86
United States Government obligations,
direct and guaranteed ________________
53,477.82
68,362.65
Other bonds, stocks, and securities_____
Furniture and fixtures _________________
669.20
Real estate owned other than banking
house ________________________________
11,300.05
Cash, balances with other banks, and
cash items in process of collection____
43,909.94

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$310,170.52

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _________________
State, county, and municipal deposits____
United States Government and postal
savings deposits ___________________
Capital account:
First preferred stock _________________
Second preferred stock _______________
Common stock _______________________
Undivided profits ____________
Preferred stock retirement fund_______

$49,056.68
176,945.48
26,330.19
20.94
25,000.00
10,000.00
20,000.00
1,817.23
1,000.00

Total ------------------------------------------------ $310,170.52

STATE BANKS OF MICHIGAN

113

No. 153.
THE GAYLORD STATE SAYINGS BANK, GAYLORD.
Organized March 2, 1893.
F r a n k J. S h i p p , P r e s i d e n t ; F red E. C o o k , V i c e P r e s i d e n t ; N o r m a n E. G l a s s e r , C a s h i e r ;
C i . yda B. C o ok , W a l t e r J. K o w a l e s k i , A s s i s t 'a n t C a s h i e r s .
D ir e c t o r s .— Frank J. Shipp, Norman E. Glasser, Fred E. Cook, Lester C. Lunden, Rae E.

Kramer, Allan Schreur, Howard C. Walker.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $313,265.27
57.04
Overdrafts ___
United States Government obligations,
direct and guaranteed ________________
146,000.00
Other bonds, stocks, andsecurities_______
124,282.50
12,000.00
Banking house _________________________
Furniture and fixtures__________________
1,500.00
Cash, balances with other banks, and
cash items in process of collection_____
73,867.02
Other assets____________________________
5,324.45

Demand deposits of individuals, partner­
ships, and corporations _______________ $176,445.52
Time deposits of individuals, partnerships,
357,241.62
and corporations___ 1------------------------State, county, and municipal deposits___
61,840.54
United States Government and postal
savings deposits ______________________
15,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
4,126.19
Capital account:
Common s to c k _______________________
44,000.00
Surplus -----------------------------------------------11,000.00
5,999.27
Undivided profits _____________________
Reserve for contingencies_____________
643.14

Total _____________ _________________

Total _____________ _________________

$676,296.28

$676,296.28

No. 507.

THE GLADSTONE STATE SAVINGS BANK, GLADSTONE.
Organized May 31, 1912.
S w a n G. N e l s o n , P r e s i d e n t ; C a s p e r W. E l q u is t , V i c e P r e s i d e n t ; J o h n M. O l s o n , C a s h i e r ;
W a l t e r L. O l s o n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Swan G. Nelson, Casper W. Elquist, Bernard R. Micks, C. S. Slining, John

M. Olson, Wm. L. Marble, Lewis Empson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $344,702.78
Overdrafts _____________________________
29.10
United States Government obligations,
direct and guaranteed ________________
130,933.09
Other bonds, stocks, and securities_____
225,104.79
Banking house _________________________
5,000.00
Furniture and fixtures _________________
4,800.00
Reserve with Federal Reserve Bank_____
153,637.34
Cash, balances with other banks, and
cash items in process of collection____
106,625.97

Demand deposits of individuals, partner­
ships, and corporations_______________ $203,991.06
Time deposits of individuals, partnerships,
and corporations _____________________
623,281.92
State, county, and municipal deposits____
26,348.55
United States Government and postal
savings deposits __________________
8,378.80
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
7,529.52
Capital account:
First preferred stock _________________
30,000.00
Second preferred stock __________
12,000.00
Common stock __________________ _____
50,000.00

Total ------------------------------------------------ $970,833.07


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Undivided profits ____________________

8,773.22

Reserve for contingencies ____________
Preferred stock retirement f u n d _____

30.00
500.00

Total ------------------------------------------------ $970,833.07

STATE BANKING DEPARTMENT

114

No. 594.
TH E F IR S T STATE SAVINGS BANK OF GLADW IN, GLADW IN.

Organized May 16, 1917.
F eed L eonard ,, P r e s i d e n t

j

C h a s , E. O g l e s t o n e , J. F. S c h u l z , V i c e P r e s i d e n t s ; W a l t e r
H. S t i c k e l , C a s h ie r .

D ir e c t o r s , — Dr. J. W. Leininger, J. F. Schulz, H arry W. Myers, Melvin H. Aitkin, James

Croskery, Frank Leonard, Fred Leonard, Chas. E. Oglestone, Dan Allen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ------------------------Other bonds, stocks, andsecurities---------Banking house ___---------------------------------Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection-------Other assets____________________________

293,680.38
176.88

Total _______________________________

$901,384.84

$95,341.44
9.57
312,901.74
194,074.83
3,800.00
1,400.00

Demand deposits of individuals, partner­
ships, and corporations------------------------ $289,307.72
Time deposits of individuals, partnerships,
and corporations ____________________ _ 392,500.67
State, county, and municipal deposits___
134,117.05
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,701.66
Capital account:
30,000.00
First preferred stock _________________
Common stock _______________________
30,000.00
Surplus ______________________________
5,000.00
Undivided profits --------------------------------13,757.74
Total _______________________________

$901,384.84

No. 249.

GRAND HAVEN STATE BANK, GRAND HAVEN.
Organized September 12, 1901.
B. P . S herw ood, P r e s id e n t a n d C h a irm a n o f th e B o a r d ; A. E . G ale, V ic e P r e s id e n t ;
B. P. S h e r w o o d , J r ., C a s h i e r ; L. V an S chf .l v e n , M. G. M e t z l e r , A s s ’ t C a s h i e r s ;
H . J. V e r h o e k s , T r u s t O fficer.
D ir e c t o r s .— J. Edgar Lee, N. Bobbins, B. Frank Harbeck, W. H. L outit, Edward W. F.

Moll, J. F. Johnston, B. P. Sherwood, John H. Reichardt, Paul A. Johnson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Demand deposits of individuals, partner­
Loans and discounts--------------------------------- $1,189,485.55
ships, and corporations ______________ $513,538.35
Overdrafts _____________________________
145.80
Time deposits of individuals, partnerships,
United States Government obligations,
and corporations _____________________ 1,779,176.82
190,362.51
direct and guaranteed------------------------State, county, and municipaldeposits____
119,511.58
Other bonds, stocks, and securities_________________ 457,116.87
United
States Government and postal
Banking house _________________________
71,000.00
•
savings deposits ------------------------49,232.52
Real estate owned other than banking
Deposits of other banks, certified and
house __________________________
20,084.54
cashier’s checks, cash letters of credit
Reserve with Federal Reserve Bank________________ 384,185.87
and travelers’ checks outstanding-------21,495.76
Cash, balances with other banks, and
Other liabilities ________________________
10,276.07
cash items in process of collection________________ 405,798.43
Capital account:
Cash items not in process of collection__
5,115.95
First preferred stock _________________
45,000.00
Other assets -----------------------------------------440.00
Common stock _______________________
100,000.00
Surplus _________________________ _____
62,000.00
Undivided profits --------------------------------20,300.04
Reserves _____________________________
704.38
Preferred stock retirement fund______
2,500.00
Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,723,735.52

Total

$2,723,735.52

STATE BANKS OF MICHIGAN

115

No. 443.
THE PEOPLES SAVINGS BANK OF GRAND HAVEN, GRAND HAVEN.
Organized January 12, 1910.
H e n r y J. D o r n b o s , P r e s i d e n t ; W m . V er D u in , G. L. D o r n b os , V i c e P r e s i d e n t s ; F r e d e r ic k
C. B o l t , V i c e P r e s i d e n t a n d C a s h i e r ; L. V. W a l s h , A s s i s t a n t V i c e P r e s i d e n t ; W m . H.
P e l l e g r o m , A s s i s t a n t C a s h i e r ; J o h n L in d e m u l d e r , A u d i t o r .
D ir e c t o r s .— Henry

J. Dornbos, Gerret L. Dornbos, J. F. Johnston, Wm. Ver Duin,
Frederick C. Bolt, W. H. Stansberry.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $925,692.25
317.51
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
37,631.56
Other bonds, stocks, and securities_____
376,565.51
Banking house _________________________
20,000.00
Furniture and fixtures _________________
2,912.53
Real estate owned other than banking
house ________________________________
11,644.05
193,412.84
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
265,912.75

Demand deposits of individuals, partner­
ships, and corporations ______________ $564,755.24
Time deposits of individuals, partnerships,\
and corporations _____________________ 1,078,576.92
State, county, and municipal deposits____
20,000.00
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
18,245.21
Capital account:
First preferred stock _______
30,000.00
Common stock _______________________
75,000.00
Surplus ______________________________
25,000.00
16,511.63
Undivided profits _____________________
Preferred stock retirement fund_____
1,000.00

Total

$1,834,089.00

Total

$1,834,089.00

No. 308.
THE GRAND LEDGE STATE BANK, GRAND LEDGE.
Organized May 8, 1905.
A . R. G i l l i e s , P r e s i d e n t ;

R. S. D o t y , V i c e P r e s i d e n t ; H . D. T o w n e r , E x e c u t i v e V i c e
P r e s i d e n t ; W. F. R o b in s o n , C a s h ie r .

D ir e c t o r s .— R. S. Doty, A. R. Gillies, C. E. Hathaway, W. F. Robinson, Myron Smith,

H. D. Towner, T. B. Townsend.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $214,313.26
Overdrafts _____________________________
5.18
United States Government obligations,
direct and guaranteed____________
86,036.94
Other bonds, stocks, and securities_____
139,321.82
Banking house _________________________
15,000.00
Furniture and fixtures _________________
1,800.00
Cash, balances with other banks, and
cash items in process of collection____
148,381.85
Other assets ___________________________
1,942.28

Demand deposits of individuals, partner­
ships, and corporations_______________ $135,369.72
Time deposits of individuals, partnerships,
and corporations _____________________
315,822.17
State, county, and municipal deposits___
57,988.98
United States Government and postal
savings deposits ______________________
25,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,064.62
Capital account:
Common stock _______________________
50,000.00
Surplus __________________________ .___
11,500.00
Undivided profits _____________________
3,055.84
Reserve for contingencies ____________
2,000.00

Total ------------------------------------------------ $606,801.33


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total

-------------------------------------- $606,801.33

STATE BANKING DEPARTMENT

116

No. 389.
LOAN AND DEPOSIT STATE BANK, GRAND LEDGE.
Organized February 29, 1908.
F rank

F eed L. B e e r y , C h a i r m a n o f t h e B o a r d .
D. F it z g e r a l d , P r e s i d e n t ; C. M. M a r i s , V i c e P r e s i d e n t ; R u tg e r s A l e x a n d e r ,
C a s h i e r ; R u s s e l l B r u n g e r , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— W alter R. McLean, John B. Strange, Charles A. Baribeau, F. Ben McMullen,

C.

M. Maris, Frank D. Fitzgerald, Russell Brunger, Rutgers Alexander, Fred L. Berry.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $203,125.34
Overdrafts ________________________
136.42
United States Government obligations,
direct and guaranteed ____________ .----99,062.50
Other bonds, stocks, and securities_____
192,076.75
Banking house --------------------------------------17,250.00
Furniture and fixtures _________________
268.00
Cash, balances with other banks, and
cash items in processof collection______ 155,105.30

Demand deposits of individuals, partner­
ships, and corporations _______________ $218,229.61
Time deposits of individuals, partnerships,
and corporations _____________________
340,786.17
41,623.28
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
1,203.89
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
50,000.00
6,425.00
Surplus ______________________________
Undivided profits --------------------------------8,756.36

Total _______________________________

Total _______________________________

$667,024.31

$667,024.31

No. 786.
CENTRAL BANK, GRAND RAPIDS.
Organized February 13, 1934.
L eon

V ic to r M. T u t h i l l , C h a ir m a n o f t h e B o a r d .
T. C l o s t e r h o u s e , P r e s i d e n t ; G eorge B. K in g s t o n , C. L in c o l n L in d e r h o l m , V ic e
P r e s i d e n t s ; W m . T. H a k k e n , C a s h i e r ; N ea l D e K r a k e r , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— Leon

T. Closterhouse, George B. Kingston, Gaylord Nelson, Charles N.
Remington, V ictor M. Tuthill, Charles H. W arden, George L. Young, James K. Miller,
Donald J. Porter.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $965,953.38
Overdrafts ___________________________
20.99
United States Government obligations,
direct and guaranteed________________
196,739.84
Other bonds, stocks, and securities_____
176,169.78
Banking house _________________________
109,145.86
Furniture and fixtures _________________
1.00
Real estate owned other than banking
house ________________________________
29,821.75
Cash, balances with other banks, and
cash items in process of collection____
332,478.35

Demand deposits of individuals, partner­
ships, and corporations _______________ $649,383.81
Time deposits of individuals, partnerships,
and corporations _____________________
762,785.91
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
21,647.63
Other liabilities ________________________
24,870.66
Capital account:
Common stock _______________________
250,000.00
Surplus ___________________________ - —
57,500.00
Undivided profits _____________________
42,963.10
Reserve for contingencies ____________
1,179.84

Total _______________________________ $1,810,330.95

Total _______________________________ $1,810,330.95


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKS OF MICHIGAN

117

THE CITIZENS INDUSTRIAL BANK, GRAND RAPIDS.
Organized October 26, 1927.
T. H. G o odspeed , S r .,

P r e s i d e n t ; D onald B. W u r zb u r g , V i c e P r e s i d e n t ; B ernard B.
F a l l o n , V i c e P r e s i d e n t a n d C a s h i e r ; H e r b e r t E. B a s c h , A s s i s t a n t C a s h i e r ; A l b e r t
B u ik e m a , A u d i t o r .

D ir e c t o r s .— T.

H. Goodspeed, Sr., T. H. Goodspeed, Jr., Benn M. Corwin, Thomas
Dempster, Jr., Bernard B. Fallon, Donald B. W urzburg, Ralph F. Baldwin, John D.
Karel, Herbert E. Raseh.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $365,447.71
United States Government obligations,
direct and guaranteed ________________
57,339.00
Furniture and fixtures _________________
4,988.67
Real estate owned other than banking
800.00
house ________ ________________________
Cash, balances with other banks, and
cash items in process of collection____
182,728.35
94.76
Other assets____________________________

Time deposits of individuals, partnerships,
and corporations _____________________ $381,288.57
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding,___
55,400.00
Other liabilities ______________
16,251.58
Capital account:
Common stock _______________________
100,000.00
Surplus
____________________________
52,000.00
6,458.34
Undivided profits __________________ :__

Total ------------------------------------------------ $611,398.49

Total ------------------------------------------------ $611,398.49

G RAN D R A P ID S T R U ST COMPANY, GRAN D R A P ID S
Organized April 1, 1913.
J o s e p h H. B r e w e r , P r e s i d e n t ; F r a n k G. D e a n e , M e l v il l e R. B is s e l l , J r ., L ee W.
F i n c h , A m o s F. P a l e y , S a m u e l G. B u c k n e r , V i c e P r e s i d e n t s ; J a m e s R . H oope r ,
V i c e P r e s i d e n t a n d T r u s t O f f i c e r ; A r t h u r E. W e l l s , S e c r e t a r y ; H e n r y C. W o r f e l ,
V i c e P r e s i d e n t a n d T r e a s u r e r ; F r a n k W . S c h m id t , A s s i s t a n t S e c r e t a r y a n d A s s i s t a n t
T r e a s u r e r ; J o s e p h F. S h a w , A u d i t o r a n d A s s i s t a n t S e c r e t a r y ; F red A . W o rden ,
M an ager,

R eal

E sta te

D e p a r tm e n t.

D ir e c t o r s .— Melville R. Bissell, Jr., Joseph H. Brewer, Leon T. Closterhouse, Louis A.

Cornelius, Frank G. Deane, Bernard B. Fallon, Theron H. Goodspeed, James R. Hooper,
Ellis W. Ranney, A rthur E. Wells.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans ----------------------------------------------------- $271,280.43
Advances to tru s ts _____________________
25,999.70
Accounts receivable ____________________
37,931.40
Other bonds, stocks,and securities.______
48,253.18
Cash, and balances with designated de­
positaries—fiduciary funds . ___________
909,784.59
Banking house _________________________
250,000.00
Furniture and fixtures _________________
69,033.50
Safe deposit vaults _____________________
31,323.15
Real estate owned other than banking
house -------------------------------------------------43,230.72
Accrued interest receivable __________ ,__
8,357.18
Other assets____________________________
6,405.84

Fiduciary funds ________________________ $1,145,102.94
Interest, taxes, and other expenses ac­
crued, and unpaid ___________________
14,881.08
Special or valuation reserves ___________
10,000.00
Capital account:
First preferred s t o c k ___ _____________
100,000.00
Common stock _________ :_______ ;_____
300,000.00
Surplus ______________________________
100,000.00
Undivided profits _____________________
31,615.67

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,701,599.69

Total

$1,701,699.69

STATE BANKING DEPARTMENT

118

THE MICHIGAN TRUST COMPANY, GRAND RAPIDS.
Organized June 1, 1889.
G eorge C. T h o m s o n , P r e s i d e n t ; H o w a r d C. L a w r e n c e , E x e c u t i v e V i c e P r e s i d e n t ;
H e n r y I d e m a , S e n i o r V ic e P r e s i d e n t ; G u y C. L i l l i e , A rend V . D u b ee , W a l t e r F .
W h i t m a n , N o y e s L. A v e r y , A. C. S h a r p e , V i c e P r e s i d e n t s ; A l e x a n d e r S. P a l m e r ,
A s s i s t a n t V i c e P r e s i d e n t a n d S e c r e t a r y ; J. D on ald M c C o r m ic k , H a r r y B . W a g n e r ,
G eorge H . W h i t w o r t h , L a w r e n c e W . W ig g in s , R o bert V . V . R ic e , A s s i s t a n t V i c e
P r e s i d e n t s ; J o h n M. M c R e y n o l d s , T r e a s u r e r ; D on M. L i l l i e , T om K r a a i , W il l i a m
C. S c h o u t e n , I van M. D e n n is , W m . J. L a n d m a n , J r ., A s s i s t a n t S e c r e t a r i e s .
D ir e c t o r s .-— Henry Idema, Thomas Wm. Hefferan, Noyes L. Avery, Clarence S. Dexter,

George C. Thomson, Guy C. Lillie, Nathaniel Robbins, Chalmers Curtis, Joseph Horner,
Curtis M. W ylie, H oward C. Lawrence, Ira A. Moore.

Statement December 31, 1938.
ASSETS

LIABILITIES

L o a n s ______________________ -____ .-------- $450,172.21
Advances to trusts --------------------------------- 218,717.56
Customers’ liability under letters of
credit, and travelers’ checks___________
5,750.00
United States Government obligations,
direct and guaranteed ________________
23,351.20
Other bonds, stocks, andsecurities_______ 226,759.88
Cash, and balances with designated de­
positaries—fiduciary funds — :------------- 1,727,350.99
Cash, and balances with other deposi­
taries—company funds ------------------------ 141,253.32
Banking house --------------------------------------- 800,000.00
Furniture and fixtures ________________ _
62,456.65
1.00
Safe deposit vaults _____________________
Real estate owned other than banking
house ________________________________
112,255.47
Other assets -----------------------------------------125,656.44

Fiduciary funds ________________________ $1,727,350.99
Customers’ liability under letters of
credit, and travelers’ checks___________
5,750.00
Special or valuation reserves ___________
256,969.26
Capital account:
Common stock _______________________ 1,200,000.00
Surplus ______________________________
400,000.00
Undivided profits _____________________
261,923.29
Reserve for contingencies ____________
41,731.18

T ota l __________________________________ $3,893,724.72

T o ta l __________________________________ $3,893,724.72

No. 402.
OLD K E N T B A N K , GRAN D R AP ID S.
Organized May 14, 1908.
Thirteen Branches in City.
H e n r y I d e m a , C h a ir m a n o f t h e B o a r d .
C l a y H . H o l l is t e r , P r e s i d e n t ; H eber W . C u r t i s , E x e c u t i v e V i c e P r e s i d e n t ; T . W m .
H e f f e r a n , C a s p e r B a a r m a n , E u gen e R ic h a r d s , S an for d P. W il c o x , V i c e P r e s i d e n t s ;
E ugene D . C o n g er , V i c e P r e s i d e n t a n d C a s h i e r ; C h e s t e r F . I d e m a , A s s i s t a n t V ic e
P r e s id e n t;
H en ry V e r h o e k , A s s i s t a n t
V ic e
P r e s id e n t
and
A ssista n t
C a sh ier;
W . T. D o s k e r , P h i l H. H o l l w a y , F r a n k M. V i s , F red A . D e V r i e s , A s s i s t a n t C a s h i e r s ;
C l if f o r d B u c h a n a n , A s s i s t a n t C a s h i e r a n d A u d i t o r ; H e n r y E . F ord , A u d i t o r .
D ir e c t o r s .-— Casper Baarman, James F. Barnett, Eugene D. Conger, Heber W. Curtis,

C. S. Dexter, F. Stuart Foote, T. Wm. Hefferan, Clay H. H ollister, John P. Homiller,
Henry Idema, W alter Idema, James Rowland Lowe, Eugene Richards, Paul F. Steketee,
H. M. T aliaferro, David A. Warner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------- $10,875,968.58
Overdrafts ___________________________
2,593.38
United States Government obligations,
direct and guaranteed _____________ 18,630.970.00
Other bonds, stocks, and securities___
7,015,061.74
Banking house _______________________
1,525,237.97
Furniture and fixtures _______________
1.00
Real estate owned other than banking
house ___________________
479,076.61
Reserve with Federal Reserve B ank___
4,963,394.79
Cash, balances with other banks, and
cash items in process of collection__
3,992,771.30
Other assets __________________________
76,662.80

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$47,561,738.17

Demand deposits of individuals, part­
----------- $12,770.040.96
nerships, and corporations
Time deposits of individuals, partner­
ships, and corporations _____________ 23,853,114.31
State, county, and municipaldeposits _
3,431,772.56
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
3,009,477.93
Other liabilities ______________________
30,780.74
Capital account:
First preferred stock _______________
1,500,000.00
Common stock _____________________
1,000,000.00
Surplus ____________________________
1,500,000.00
Undivided profits __________________
322,801.67
Reserves ___________________________
18,750.00
Preferred stock retirement fund__________________ 125,000.00
Total

$47,561,738.17

STATE BANKS OF MICHIGAN

119

No. 766.
UNION BANK OF MICHIGAN, GRAND RAPIDS.
Organized October 3, 1929.
J o h n E. F r e y , P r e s i d e n t ; R a l p h T. W il l a r d , C a s h i e r a n d E x e c u t i v e V i c e P r e s i d e n t ;
E d. J. F r e y , W i l l i s J. R ip l e y , R ue l B. V a n W e r t , V i c e P r e s i d e n t s ; H e l e n W. .N e w e l l ,
A . H. C o w e l l , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— John E. Frey, Douglas M. Ray, Kellar Stem, Daniel W. Kimball, Earl M.

Johnson, W illis J. Ripley, Michael Leonard, Harold W. Bryant.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts._____________________ $2,634,729.94
Demand deposits of individuals, partner­
Other bonds, stocks, and securities________________ 365,423.17
ships, and corporations _______________ $641,847.66
Furniture and fixtures _________________
1.00
Time deposits of individuals, partnerships,
Cash, balances with other banks, and
and corporations ____________________ 2,097,685.93
755,770.82
cash items in process of collection____
State, county, andmunicipal deposits____
5,000.00
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______ 206,886.74
Other liabilities ________________________
16,218.62
Capital account:
250,000.00
Common stock _______________________
Surplus ----------------------------------------------- 250,000.00
Undivided profits_____________________
133,299.31
Reserve for contingencies ____________
149,986.67
Total ------------------------------------------------ $3,755,924.93

Total ------------------------------------------------ $3,755,924.93

No. 797.
COMMUNITY STATE BANK, GRANDVILLE.
Organized March 15, 1937.
F red F. M c E a c h r o n , P r e s i d e n t ; P e t e r J. H o e k zk m a , V i c e P r e s i d e n t ; F. G. M c E a c h r o n ,
C a s h i e r ; W m . V a n d e r W ie r e , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Fred

F. McEachron, Lam ott M. McEachron, F. G. McEachron, Peter J.
Hoekzema, Wm. J. Datema, Daniel TenCate, M atthew H. Pellegroam.'

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts __________________ $141,561.23
Other bonds, stocks, and securities_____
18,700.00
Banking house --------------------------8,500.00
Furniture and fixtures __ _______________
2,514.68
Reserve with FederalReserve B a n k _____
20,509.02
Cash, balances with other banks, and
cash items in process of collection ___
35,237.35

Total --------------------------------------- 1____


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$227,022.28

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ____
State, county, and municipal d eposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Other liabilities ____
Capital account:

$81,017.54
65,767.21
19,240.03
30,462.59
2,372.93

Common stock _____________________

25,ooo.oo

Surplus ----------------------------------------------Undivided profits _____________________

2,691.96
470.02

Total ----------- ------------------------------------ $227,022.28

STATE BANKING DEPARTMENT

120

No. 340.
THE GRANT STATE BANK, GRANT.
Organized February 28, 1906.
H e r m a n M c K in l e y , P r e s i d e n t a n d C a s h i e r ; R. B. K in c a id , V i c e P r e s i d e n t ; D. A. M c ­
K in l e y , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Herman M cKinley, Milo A. W hite, R. E. Kincaid, E. J. Stone, E. Clare Kem pf.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________ _______ $185,761.28
Overdrafts ______________________________
27.35
United States Government obligations,
34,456.26
direct and guaranteed-----------------Other bonds, stocks, andsecurities______
137,183.93
Banking house _________________________
5,700.00
Furniture and fixtures _____________
2,700.00
Real estate owned other than banking
5,459.26
house ________________________________
Cash, balances with other banks, and
cash items in process of collection_____
151,808.50

Demand deposits of individuals, partner­
ships, and corporations ______________ $113,456.47
Time deposits of individuals, partnerships,
311,979.02
and corporations _____ 1---------------------State, county, and municipal deposits —
44,028.85
United States Government and postal sav­
ings deposits---------------------------------------478.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
504.25
and travelers’ checks outstanding------Capital account:
First preferred stock _________________
10,000.00
Common stock _______________________
30,000.00
10,500.00
Surplus ______________________________
Undivided p r o f it s -- ---------------------------2,149.99

Total _______________________________

Total _______________________________

$523,096.58

$523,096.58

No. 27.
THE FARMERS STATE BANK, GRASS LAKE.
Organized April 24, 1883.
F. G. M e l l e n c a m p ,

F. H. S h e l l y , V i c e P r e s i d e n t ; H. J. K n ig h t ,
W. A. K a l m b a c h , A s s i s t a n t C a s h ie r .

P r e s id e n t;

C a sh ie r ;

D ir e c t o r s .— E.

W. Crafts, F. H. Shelly, H. J. Knight, F. G. Mellencamp,
Robinson, W. K. Crafts, H. B. Mellencamp, T. B. Jones, C- E. Foster.

E.

F.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________________ $193,172.48
180.28
Overdrafts ______________________________
United States Government obligations,
direct and guaranteed________________
54,650.00
Other bonds, stocks, andsecurities---------103,528.21
Banking house _________________________
8,800.00
Furniture and fixtures ________ ^-----------1,150.00
Real estate owned other than banking
house ________________
3,155.58
Cash, balances with other banks, and
cash items in process of collection--------- 152,800.46

T o ta l___ ___________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$517,437.01

Demand deposits of individuals, partner­
ships, and corporations ___________ ____
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits —
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ____
Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits ____________________
Reserve for contingencies ____________
Total _______________________________

$92,527.42
353,701.15
23,922.08
68.00
25,000.00
16,500.00
3,707.07
2,011.29
$517,437.01

STATE BANKS OF MICHIGAN

121

No. 780.
GRAYLING STATE SAYINGS BANK, GRAYLING.
Organized December 5, 1931.
E sb e r n H a n so n , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; J o h n B r o u n , V i c e P r e s i d e n t
a n d M a n a g e r ; H olger D. H a n so n , V i c e P r e s i d e n t ; M a r g r e t h e N i e l s e n , C a s h ie r .
D ir e c t o r s .— Esbern

Hanson,

Holger D. Hanson,
Bruun.

A.

J.

Nelson,

Wilhelm

Raae,

John

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________ ___ ,______ $173,776.17
United States Government obligations,
direct and guaranteed ________________
41,883.75
Other bonds, stocks, and securities______
5,000.00
Furniture and fixtures_________
1.00
Cash, balances with other banks, and
cash items in process of collection____
173,218.96
1,636.30
Other assets ____________________________

Demand deposits of individuals, partner­
ships, and corporations ______________ $157,744.14
Time deposits of individuals, partnerships,
and corporations ____________________
132,315.93
43,928.42
State, county, andmunicipal deposits____
United States Government and postal sav­
ings deposits__________________________
637.50
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
83.28
and travelers’ checksoutstanding _____
Other liabilities________________________
945.40
Capital account:
25,000.00
Common stock _______________________
Surplus _____________________
25,000.00
Undivided profits _____________________
3,611.51
Reserve for contingencies_____________
6,250.00

Total ---------------------------------------------------

$395,516.18

Total --------------------------------------------- ------ $395,516.18

No. 263.
COMMERCIAL STATE SAYINGS BANK, GREENVILLE.
Organized June 10, 1902.
C h a s . M. M il l e r , P r e s i d e n t ; E l l i s W. R a n n e y , V i c e P r e s i d e n t ; G eo . C. B o w e r , 2 n d
V i c e P r e s i d e n t ; C lau de V . C o a t s , C a s h i e r ; W a l t e r K . W ard , A s s i s t a n t C a s h i e r ;
C h a s . W. S m i t h , A s s i s t a n t t o t h e P r e s i d e n t .
D ir e c t o r s .— Chas.

M. Miller, Ellis W. Ranney, George C. Bower, Claude Y. Coats,
W ellington G. Clark, LeRoy W. Ranney, L. Stanley Kemp, Charles W. Smith.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts _______________
$530,233.17
United States Government obligations,
direct and guaranteed_____ __________
248,502.93
159,974.16
Other bonds, stocks, and securities____
Furniture and fixtures _________________
3,269.58
Real estate owned other than banking
house --------------------------------------------------18,800.28
Reserve with Federal Reserve Bank_____
77,767.04
Cash, balances with other banks, and
cash items in process of collection ___
93,958.60
Other assets -----------------------------------------5,200.00

Demand deposits of individuals, partner­
ships, and corporations ______________ $192,725.19
Time deposits of individuals, partnerships,
and corporations _____________________
787,553.35
State, county, and municipal deposits___
44,353.19
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ___ .
6,070.77
Dividends declared but not yet payable 1,322.50
Capital account:
First preferred stock _________________
46,500.00
Second preferred s t o c k _____ ._________
25,000.00
Common stock _______________________
25,000.00
Undivided profits _____________________
6,858.08
Preferred stock retirement f u n d ______
2,322.68

Total ---------- -------------- ----------------------- $1,137,705.76

Total ------------------------- ----------------------- $1,137,705.76


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTMENT

122

No. 188.
FIRST STATE BANK OF GREENVILLE, GREENVILLE.
Organized March 24, 1896.
C h a r l e s J. G ib s o n , P r e s i d e n t ; D. H . M oore , V i c e P r e s i d e n t ; A . J. S u f f e r n , C a s h i e r ;
M. E l o is e B a c k u s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Charles J. Gibson, D. H. Moore, P. E. Tower, A. J. Suffern, H. A . Vos,

J.

S. Christensen, S. L. Tower.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ------------------------------ $174,732.90
Overdrafts _____________________________
-69
United States Government obligations,
direct and guaranteed _______________
182,775.00
Other bonds, stocks, and securities-------67,987.50
Banking house --------------------------------------10,000.00
2,500.00
Furniture and fixtures _________________
Reserve with Federal Reserve Bank_____
89,395.18
Cash, balances with other banks, and
cash items in process of collection------93,987.03
Other assets _____ :----------- ------------------- 27,014.83

Demand deposits of individuals, partner­
ships, and corporations ------------------------ $182,165.52
Time deposits of individuals, partnerships,
319,690.25
and corporations ------State, county, andmunicipal deposits------54,750.59
United States Government and postal sav­
ings deposits _________________ ________
1,445.03
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding-------660.91
Other liabilities ________________________
25,414.12
Capital account:
Common stock _______________________
50,000.00
14,000.00
Surplus _________________________
Undivided profits ---------------------------- —
266.71

Total ___________________ ,___________

Total ___________________ ____________

$648,393.13

$648,393.13

No. 791.
THE GROSSE POINTE BANK, GROSSE POINTE.
Organized December 10, 1934.
J o s e p h B. S c h l o t m a n , P r e s i d e n t ; D. D w i g h t D o u g l a s , V i c e P r e s i d e n t ; G eorge W .
B a s s , A s s i s t a n t V i c e P r e s i d e n t ; W i l l i a m K. D e B a e k e , C a s h i e r ; G ra ce M o n a g h a n ,
A s s i s t a n t C a s h i e r ; A lb e r t J. D e R i e m a c k e r , A u d i t o r .
D ir e c t o r s .— Fred C. Burden, David S. Carter, D. Dwight Douglas, Edward J. Hickey,

Frank W. Hubbard, Joseph B. Schlotman, Carter Sales, James K. W atkins, John N.
Lord.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $797,027.15
Overdrafts _____________________
105.26
United States Government obligations,
direct and guaranteed ________________
617,854.69
Other bonds, stocks, and securities_____
717,525.89
Banking house --------------------------------------47,966.00
Real estate owned other than banking
h o u s e _______________________________
10,000.00
Reserve with Federal Reserve B a n k ____
395,771.22
Cash, balances with other banks, and
cash items in process of collection ___ 1,085,125.79
Other assets ___________________________
15,038.03

Demand deposits of individuals, partner­
ships, and corporations-- _------------------ $1,091,345.90
Time deposits of individuals, partnerships,
and corporations _____________________ 1,751,614.48
State, county, and municipal deposits___
547,792.78
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
16,384.88
and travelers’ checks outstanding __ Other liabilities ___________________
3,538.51
Capital account:
Common stock _______________________
100,000.00
Surplus ________ __________
115,000.00
Undivided profits ------------------------------37,377.42
Reserve for contingencies ____________
23,360.06

Total _______________________________ $3,686,414.03

Total _______________________________ $3,686,414.03


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKS OF MICHIGAN

123

No. 410.

THE GWINN STATE SAVINGS BANK, GWINN.
Organized September 29, 1908.
G. R. J a c k s o n ,

P r e s id e n t;

D. R. M a c I n t y r e ,

V ic e

P r e s id e n t;

H. O. K n ü d se n ,

C a s h ie r .

D ir e c t o r s — G. R. Jackson, D. R. M acIntyre, W. W . Graff, G. Sherman Collins, R. J.

Jeffery.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $124,005.42
United States Government obligations,
direct and guaranteed___________ ______
50,263.60
Other bonds, stocks,and securities _____
141,932.50
Cash, balances with other banks, and
cash items in process of collection____
87,260.69
Other assets ___________________________
4,555.90

Total ------------------------------------------------

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common stock _______________________
Surplus -----------------------------------------------Undivided profits ___________________

$408,018.11

$63,249.44
260,425.67
26,203.45
984.68
25,000.00
25,000.00
7,154.87

Total ------------------------------------------------ $408,018.11

No. 709.
THE BANK OF HAMTRAMCK, HAMTRAMCK.
Organized November 24, 1923.
J ohn

F.

K o e n ig , P r e s i d e n t ;

V ic e P r e s id e n t and C a s h ie r ;

E d w in R. M o n n ig , V i c e P r e s i d e n t ; W m . E. D in g m a n ,
F r a n k J. F e l t o n , A lb e r t J. S t o c k e r , A s s i s t a n t C a s h i e r s .

D ir e c t o r s — John F. Koenig, Edwin R. Monnig, Hon. Theodore J. Richter, Hon. A le x

J. Groesbeck, Harvey C. Emery, Wm. E. Dingman.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $770,134.75
Overdrafts ____________ _________________
’ 60.38
United States Government obligations,
direct and guaranteed
______________ 1,579,391.99
521,478.65
Other bonds, stocks, andsecurities______
Banking house _________________________
66,406.14
Furniture and fixtures__________________
15,943.00
Real estate owned other than banking
house -------------------------------------------------3,486.33
Cash, balances with other banks, and
cash items in process of collection_____ 1,323,113.96
Other assets ____________________________
12,759.97

Demand deposits of individuals, partner­
ships, and corporations ______________ $850,193.47
Time deposits of individuals, partnerships,
and corporations ______________
2,281,133.76
State, county, and municipal deposits___
751,044.77
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
50,785.96
Other liabilities ________________________
3,415.72
Capital account:
Common stock _______________________
200,000.00
Surplus ----------------------------------------------57,500.00
Undivided profits _____________________
24,197.76
Reserve for contingencies ____________
74,503.73

Total ------------------------------------------------ $4,292,775.17

Total ------------------------------------------------$4,292,775.17


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTMENT

124

No. 617.
' .
THE LIBERTY STATE BANK OF HAMTRAMCK, HAMTRAMCK.
Organized July 23, 191S.
J o s e p h C h r o n o w s k i , P r e s i d e n t ; A n t h o n y S ee ge r , V i c e P r e s i d e n t ; A l o is J. C h r o n o w s k i ,
V ic e

P r e s id e n t

and

C a s h ie r .

D ir e c t o r s .— Joseph Chronowski, Alois J. Chronowski, Anthony

Seeger, Henry Wunsch,

Frank M. Lemke.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $368,620.00
Overdrafts -------85.23
United States Government obligations,
" direct and guaranteed ------------------------196,466.96
Other bonds, stocks, andsecurities---------109,159.84
Banking house --------------36,533.10
Furniture and fixtures --------------------------9,908.03
Cash, balances with other banks, and
cash items in process of collection_____
282,391.22

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $221,994.15
Time deposits of individuals, partnerships,
and corporations --------------------------------- 497,230.53
State, county, and municipaldeposits —
126,756.59
United States Government and postal sav­
ings deposits _________________________
25,358.38
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
17,806.19
and travelers’ checks outstanding------Capital account:
Common stock _______________________
100,000.00
Surplus ____________________________ __
10,000.00
Undivided profits --------------------------------4,018.54

Total _______________________________ $1,003,164.38

Total _______________________________ $1,003,164.38

No. 435.
PEOPLES STATE BANK, HAMTRAMCK.
Organized February 4, 1909.
N e l s L. O l s o n , P r e s i d e n t j A n d r e w W. M i c h a l a k , E x e c u t i v e V i c e P r e s i d e n t a n d C a s h i e r ;
V. F. M a c i e j e w s k i , L. S. M i n k w i c , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— Stephen A. Majewski, A. W. Michalak, Joseph J. M itchell, Nels L. Olson,

David Stober, Fred J. Lamborn, Otto Lundell.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $488,415.57
Overdrafts ______________________________
826.63
United States Government obligations,
direct and guaranteed ________________ 1,229,911.13
Other bonds, stocks, andsecurities--------- 513,661.12
Banking house --------------------------------------30,381.38
Furniture and fixtures --------------------------1.00
Cash, balances with other banks, and
cash items in process of collection_____
731,894.98

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $780,996.99
Time deposits of individuals, partnerships,
and corporations ------------------------------ 1,610,348.49
State, county, andmunicipal deposits------292,968.54
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding-------18,747.36
Other liabilities ___________________
18,391.90
Capital account:
Common stock _______________________
200,000.00
Surplus ______________________________
55,000.00
Undivided profits _____________________
11,690.47
Reserve for contingencies ------------------6,948.06

Total _______________________________ $2,995,091.81

Total _______________________________ $2,995,091.81


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Federal Reserve Bank of St. Louis

STATE BANKS OF MICHIGAN

125

SUPERIOR TRUST COMPANY, HANCOCK.
Organized June 30, 1902.
C h a r l e s L. L a w t o n , P r e s i d e n t ; G ordon R . C a m p b e l l , J o s e p h R u p p e , V i c e P r e s i d e n t s ;
R ic h a r d E . O d ge r s , S e c r e t a r y - T r e a s u r e r ; E l ea n o r D a v is , A s s i s t a n t S e c r e t a r y .
D ir e c t o r s .— Charles L. Lawton, Gordon R. Campbell, Swaby L. Lawton, Joseph Ruppe,

Charles A. W right, Lessing Karger, Clarence M. Hoar, Paul Ruppe, Isidor Gartner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans ------------------------------;___ ;_____ ____
$80,522.70
Fiduciary funds ________________ _______
United States Government obligations,
Debentures secured by m ortgages_______
direct and fully guaranteed __________
68,053.74
Capital account:
Other bonds, stocks, and securities____
19,862.50
Common stock _______________________
Cash, and balances with designated de­
Surplus ----------------------------positaries—fiduciary funds ___________
56,238.66
Undivided profits ____________________
Cash, and balances with other deposi­
Reserve for contingencies ____________
taries—company funds __________________
3,069.20
Real estate mortgages securing debentures
19,451.53
Total ------------------------------------------------ $247,198.33

$56,238.66
500.00
150,000.00
11,000.00
28,809.67
650.00

Total ------------------------------------------------ $247,198.33

No. 254.
HURON COUNTY STATE BANK, HARBOR BEACH.
Organized January 13, 1902.
D a r iu s M i h l e t h a l e r , P r e s i d e n t ; B e la W . J e n k s , J r ., V i c e P r e s i d e n t j W i l l ia m J.
E n g le , V i c e P r e s i d e n t a n d C a s h i e r ; G eo . M. H ar w o o d , F r a n c e s Z m i c h , A s s i s t a n t
C a sh iers.

D ir e c t o r s .— Darius Mihlethaler, Bela W. Jenks, Jr., W illiam J. Engle, James I. Bennett,

Roland Eilber.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_______ ,____________ $117,861.40
Overdrafts _____________________________
84.49
United States Government obligations,
direct and guaranteed
______________ 210,730.82
Other bonds, stocks, andsecurities______ 273,420.26
Banking house --------------------------------------12,500.00
Furniture and fixtures _________________
3,550.00
Cash, balances with other banks, and
cash items in process of collection_____
138,420.35

Demand deposits of individuals, partner­
ships, and corporations ________
$117,422.68
Time deposits of individuals, partnerships,
and corporations _____________________
546,351.23
State, county, and municipal deposits___
36,069.67
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
1,876.44
Capital account:
Common stock _______________________
25,000.00
Surplus ______________________________
22,500.00
Undivided profits _____________________
6,347.30
Reserve for contingencies __________ __
1,000.00

T o t a l ---------------- --------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$756,567.32

T o t a l ---------------- -------------------------------

$756,567.32

STATE BANKING DEPARTMENT

126

No. 412.
THE STATE BANK OF HARBOR BEACH, HARBOR BEACH, MICHIGAN.
Organized October 8, 1908.
D k. C. W. A r m it a g e ,

P r e s id e n t;

J. C. P r i e s k o r n ,

V ic e

P r e s id e n t

and

C a sh ie r ;

F rank

W a l s h , A s s i s t a n t C a s h ie r .

D irectors .— D r. C. W. Armitage, J. C. Prieskorn, Ed. C. Dropiewski, B. J. Murdock,
Frank Walsh.

Statement December 81, 1938.
LIABILITIES

ASSETS
Loans and discounts ------------------------------ $165,934.93
Overdrafts _____________________________
3.81
United States Government obligations,
69,770.00
direct and guaranteed ------------------------Other bonds, stocks, andsecurities --------71,976.86
3,000.00
Banking house ------Furniture and fixtures ----------- ---------------476.00
Cash, balances with other banks, and
cash items in process of collection-------76,555.67

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----United States Government and postal sav­
ings deposits _____________ ____________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock _______________________
Surplus ------------------------------------------------Undivided profits --------------------------------Total _______________________________

$387,717.27

$55,406.37
219,169.20
46,356.75
25,000.00
1,834.04
25,000.00
9,000.00
5,950.91
$387,717.27

No. 326.
THE EMMET COUNTY STATE BANK, HARBOR SPRINGS.
Organized November 1, 1905.
J. T. C l a r k e ,

P r e s id e n t;

W. J. C l a r k e ,

V ic e P r e s id e n t an d

A ssista n t

C a sh ier;

J a m e s H. C l a r k e ,

C a s h ie r .

D ir e c t o r s .— J. T. Clarke, Edith M. Clarke, W. J. Clarke, C. F. Erwin, J. H. Clarke.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ----------------------------United States Government obligations,
direct and guaranteed -----------------------Other bonds, stocks, and securities ------Furniture and fixtures --------------------------Reserve with Federal Reserve B a n k ------Cash, balances with other banks, and
cash items in process of collection-------

Total

$96,172.06
448,575.00
363,218.00
1-00
208,960.37
185,831.93

______________________________ $1,302,758.36


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $410,294.05
Time deposits of individuals, partnerships,
and corporations _____________________
625,344.30
State, county, and municipal deposits —- 140,353.54
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------5,906.75
Capital account:
First preferred stock -----------------60,000.00
Second preferred stock _______________
12,500.00
Common stock ______ — --------------------25,000.00
Undivided p ro fits --------------------------------12,574.72
Reserve for contingencies ------5,785.00
Preferred stock retirement fund-------__
5,000.00
Total

______________________________ $1,302,758.36

STATE BANKS OF MICHIGAN

127

No. 355.
THE STATE SAYINGS BANK OF HARRISON, HARRISON.
Organized December 8, 1906.
F eed W . S c h u e t t , P r e s i d e n t ; W m . M u r p h y , V i c e P r e s i d e n t ; F . W e a t h e r h e a d , C a s h i e r ;
W . L. H a r p e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Fred W. Weatherhead, Joseph E. Ladd, Michael Fanning, W illiam Murphy,

Anna M. Joos, Fred W. Schuett, John F. Brown, Fred W. Schaaf.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, and securities_____
Banking house _____
Furniture and fixtures ________________
Cash, balances with other banks, and
cash items in process of collection____

Total

$59,862.50
49,951.92
50,972.35
2,200.00
700.00
46,359.19

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
First preferred stock _________________
Common stock _______________________
Undivided profits _____________________

----------------------------------------------- $210,045.96

Total

$77,033.57
76,896.41
24,865.54
638.83
5,000.00
25,000.00
611.61

----------------------------------------------- $210,045.96

No. 50.
THE OCEANA COUNTY SAYINGS BANK, HART.
Organized October 31, 1887.
H e r m a n M c K in l e y , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; L. S. P l a t t , V i c e P r e s i d e n t ;
W. E. R o l l in s , C a s h i e r ; W. S. G r e in e r , H. C. H u t c h in s o n , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— Herman M cKinley, L. S. Platt, W. E. Rollins, Geo. W. Powers, A. H . Platt,

Ralph Dukes, C. D. Bright, L. P. Munger.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $204,205.34
United States Government obligations,
direct and guaranteed ________________
91,559.38
Other bonds, stocks, and securities____
156,926.35
Banking house --------------------------------------15,600.00
Furniture and fixtures _________________
3,884.15
Real estate owned other than banking
house ------------------------------------------------12,000.00
Cash, balances with other banks, and
cash items in process of collection____
129,037.10

Demand deposits of individuals, partner­
ships, and corporations ______________ $133,548.88
Time deposits of individuals, partnerships,
and corporations _____________________
373,651.84
State, county, and municipal deposits___
42,191.89
United States Government and postal
savings deposits ______________________
2,587.76
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
227.77
Capital account:
First preferred stock _________________
20,000.00
Common stock _______________________
40,000.00
Undivided p r o fits _____________________
1,004.18

Total

------------------------------------- --------- $613,212.32


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total

----------------------------------------------- $613,212.32

STATE BANKING DEPARTMENT

128

No. 652.
VAN BUREN STATE BANK, HARTFORD.
Organized March 15, 1920.
One Branch in Covert, Michigan.
A.

B. C h a s e ,

P r e sid e n t;

C a sh ier;

T. C. T ie d e b o h l , J r ., V i c e P r e s i d e n t ; M il t o n
R u t h S. F a r r e r , L au re H oover , A s s i s t a n t C a s h ie r s .

M.

W eed ,

D ir e c t o r s .— A. B. Chase, T. C. Tiedebohl, Jr., Randolph B. Monroe, E arl L. Burhans,

M ilton M. Weed.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $189,243.09
United States Government obligations,
direct and guaranteed ------------------------- 113,212.53
Other bonds, stocks, and securities------90,780.96
Banking house --------------------------------------14,500.00
Furniture and fixtures --------------------------4,474.36
Real estate owned other than banking
4,350.00
house ________________________________
Cash, balances with other banks, and
cash items in process of collection ----170,111.11
Other assets -----------------------------------------242.63

Demand deposits of individuals, partner­
ships, and corporations ______________ $156,055.36
Time deposits of individuals, partnerships,
and corporations --------------------------------- 288,964.03
State, county, and municipal deposits —
79,169.13
Capital account:
First preferred stock --------------------------35,000.00
Second preferred stock -----------------------5,000.00
Common stock -----------------------------------20,000.00
1,853.49
Undivided profits --------------------------------Reserve for contingencies ------------------872.67

Total

______________________________

$586.914.68

Total

______________________________

$586.914.68

No. 11.
THE HASTINGS CITY BANK, HASTINGS.
Organized October 26, 1886.
M. L. C o o k ,

F. W. S t e b b in s , V i c e P r e s i d e n t ; M. A. L a m b ie , V i c e
C a s h i e r ; R oy W. C h a n d l e r , L. E. L o w e l l , A s s i s t a n t C a s h i e r s .

P r e sid e n t;

and

P r e s id e n t

D ir e c t o r s .— M. L. Cook, Kellar Stem, F. W. Stebbins, M. A. Lambie, R. C. Fuller, Kim

Sigler, A. H. Carveth, Robert T. W alton.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ------------------------------ $506,752.24
Overdrafts --------------------------------------------205.67
United States Government obligations,
direct and guaranteed------------------------- 110,194.38
Other bonds, stocks, andsecurities---------391,059.85
Banking house --------------------------------------35,000.00
Furniture and fixtures --------------------------13,550.00
Real estate owned other than banking
house _____________________
3,858.43
Cash, balances with other banks, and
cash items in process of collection------- 462,152.24
Cash items not in process of collection ^
2,529.97
Other assets ___________________ ________
6,286.11

Demand deposits of individuals, partnerships, and corporations ---------------------- $392,939.12
Time deposits of individuals, partnerships,
and corporations ------------------------------- 852,463.21
State, county, andmunicipaldeposits —
99,922.53
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding-------11,850.66
Other liabilities -------4,966.32
Capital account:
First preferred stock --------------------------74,000.00
Common s to c k ---------------75,000.00
Surplus ______
15,000.00
Undivided p ro fits --------------------------------3,772.05
Reserve for contingencies ------------------750.00
Preferred stock retirement fund---------925.00

Total

______________________________ $1,531,588.89


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total

______________________________ $1,531,588.89

129

STATE BANKS OF MICHIGAN
No. 441.
THE HEMLOCK STATE BANK, HEMLOCK.
Organized September 14, 1909.

E. M. L in g , P r e s i d e n t ; J o h n C. R a u c h h o l z , V i c e P r e s i d e n t ; R . B. B e a v e r , C a s h i e r ;
M. R . B e a v e r , A s s i s t a n t C a s h ie r .

D irectors .— E. M. Ling, John C. Rauchholz, Henry Alward, E. S. Beaver, E. Thomas.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ------------------------------ $250,016.92
Overdrafts _____________________________
153.59
United States Government obligations,
direct and guaranteed------------------------88,809.38
Other bonds, stocks, and securities-------72,885.18
2,650.00
Banking h o u s e -- -----------------------------------Furniture and fixtures -------------- .----- -----1,250.00
Cash, balances with other banks, and
cash items in process of collection—
63,179.74

Total

______________________________

$478,944.81

Demand deposits of individuals, partner­
ships, and corporations ---------------------Time deposits of individuals, partnerships,
and corporations --------------------------------State, county, and municipal deposits —
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------Other liabilities --------------------------------- —
Capital account:
First preferred stock ------------------------Common stock _______________________
Surplus ______________________________
Undivided profits -----------------------Preferred stock retirement f u n d -------Total

______________________________

$95,688.13
303,370.15
22,800.21
13,533.63
333.82
10,000.00
20,000.00
12,000.00
1,018.87
200.00
$478,944.81

No. 446.
THE STATE BANK OF HESPERIA, HESPERIA.
Organized January 11, 1910.
A r t h u r C. T o m p s e t t , P r e s i d e n t ; D u n c a n C. M c C a l l u m , V i c e P r e s i d e n t ; E ar l A n d e r so n ,
C a s h i e r ; H o b t . B a y l e , A s s i s t a n t C a s h ie r .
D ir e c t o r s — Duncan

C. McCallum, Earl Anderson, Arthur C. Tompsett, Clare Kempf,
Albert P. DeLong, Henry L. McCallum, Duncan Becker.

Statement December 31, 1938.
ASSETS
Loans and discounts -----------------------------Overdrafts _____________________________
United States Government obligations,
direct and guaranteed------------------------Other bonds, stocks, andsecurities--------Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection ____
Other assets____________________________

Total ______________________ ________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$79,748.11
43.45
37,300.00
48,452.50
2,500.00
1,500.00
76,241.49
4,000.00

$249,785.55

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ____________________ State, county, and municipaldeposits—
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-----Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ____________________
Total _______________________________

$57,253.82
112,862.89
47,684.74
150.77
1,660.76
20,000.00
5,000.00
5,172.57
$249,785.55

130

STATE BANKING DEPARTMENT
HIGHLAND PARK TRUST COMPANY, HIGHLAND PARK.
Organized May 16, 1925.

H a r v e y C. E m e r y , P r e s i d e n t ; E u gen e H. S w a n , V i c e P r e s i d e n t a n d S e c r e t a r y ; L a w r e n c e
M. K e l l y , V i c e P r e s i d e n t a n d T r u s t O ffic e r ; L a u r ie r F. U t t l e y , A s s i s t a n t S e c r e t a r y ;
J e s s e A . S n yd er , T r e a s u r e r ; G eorge W . J o n e s , A s s i s t a n t T r e a s u r e r .
D ir e c t o r s .— George R. Andrews, Alex J. Groesbeck, Howard A. Coffin, W allace R. M iddleton,

Harvey C. Emery, A. W. Sempliner, W illiam J. Storen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans ----------------------------------------------------- $549,687.77
Advances to trusts _____________________
4,198.25
Accounts receivable ____________________
36,190.81
United States Government obligations,
direct and fully guaranteed___________
57,400.00
Other bonds, stocks, and securities ____
30,910.00
Cash, and balances with designated de­
287,800.50
positaries—fiduciary funds ____________
Cash, and balances with other deposi­
taries—company fu n d s ________________
28,845.40
Furniture and fixtures _______________
3,210.72
Real estate owned other than banking
house -------------------------------------------------46,140.93
601.91
Accrued Interest receivable_____________
Other assets____________________________
303.00

Fiduciary funds ________________________ $287,800.50
Interest, taxes, and other expenses accrued
and unpaid __________________________
1,686.22
Other liabilities __________ _____________
492,081.88
Capital account:
Common stock ______________________
150,000.00
Surplus ______________________________
30,000.00
Undivided p ro fits _____________________
21,956.82
Reserve for contingencies_____________
61,763.87

Total

$1,045,289.29

Total

.$1,045,289.29

*

No. 78.
HILLSDALE STATE SAVINGS BANK, HILLSDALE.
Organized July 30, 1884.
O. J. C o r n e l l , P r e s i d e n t ;

R. L. O w e n , C. F. C o o k , V i c e P r e s i d e n t s ;
C a s h i e r ; G. H . M organ , A s s i s t a n t C a s h ie r .

M. B. M a r s h ,

D ir e c t o r s .— O. J. Cornell, R. L. Owen, C. F. Cook, Paul W. Chase, C. E. Lewis, J. C.

Decker, C. T. Bower.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and disccounts___________________ $549,060.27
Overdrafts ______
297^04
United States Government obligations,
direct and guaranteed ________________
567,395.50
Other bonds, stocks, andsecurities ______ 1,296,323.93
Banking house -------------------------------------43,000.00
Furniture and fixtures _________________
4,000.00
Reserve with Federal Reserve B a n k _____
717,354.71
Cash, balances with other banks, and
cash items In process of collection ___
379,378.12
Cash items not in process of collection^
695.58

Demand deposits of individuals, partner­
ships, and corporations_______________ $622,671.95
Time deposits of individuals, partnerships,
and corporations ______________________ 2,157,814.63
State, county, and municipaldeposits ___
530,588.19
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
10,440.80
Capital account:
Common stock _______________________
165,000.00
Surplus ----------------------------------------------65,000.00
Undivided profits _____________________
989.58
Reserve for contingencies_____________
5,000.00

Total ------------------------------------------------ $3,557,505.15

Total ------------------------------------------------ $3,557,505.15


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

131

STATE BANKS OF MICHIGAN
No. 91.
HOLLAND STATE BANK, HOLLAND.
Organized January 16, 1890.
C h a r l e s K ir c h e n , C h a ir m a n o f t h e B o a r d ; H e n ry S. M a e n t z , P r e s i d e n t ;
K r a m e r , D a n ie l T e n C ate , V i c e P r e s i d e n t s ; A . C. .To l d e r s m a , C a s h i e r ;
J. W e st v e e r , A s s i s t a n t C a s h ie r .

Ot t o P .
W il l i a m

D ir e c t o r s .— Dick Boter, Edw. D . Dimnent, John V. Hulst, Henry Idema, Charles Kirchen,

Otto P. Kramer, Henry S. Maentz, Thos. H M arsilje, Ben Steffens, Daniel Ten Cate,
Cor. Tiesenga, P. F. Verplank, W ynand W ichers.

Statement December 31, 1938.
LIABILITIES

ASSETS

Demand deposits of individuals, partnerLoans and discounts ___________________ $1,608,392.52
' ships, and corporations ______________$1,224,743.62
Overdrafts _____________________________
49.31
Time deposits of individuals, partnerships,
United States Government obligations,
and corporations _____________________ 1,283,934.04
direct and guaranteed________________ 1,015,000.00
State, county, and municipaldeposits —
366,095.97
Other bonds, stocks, and securities________________ 9,750.00
Deposits of other banks, certified and
Banking house _________________________
40,000.00
cashier’s checks, cash letters of credit
Furniture and fixtures _________________
4,700.00
and travelers’ checks outstanding____
17,903.27
Reserve with Federal Reserve Bank_________________ 494,636.67
20,324.55
Other liabilities ____ :___________________
Cash, balances with other banks, and
Capital account:
cash items in process of collection________________ 103,803.07
Common stock _______________________
250,000.00
Other assets____________________________
11.29
85,000.00
Surplus ______________________________
Undivided profits _____________________
21,491.33
Reserve for contingencies----------6,850.08
$3,276,342.86

Total -.

$3,276,342.86

T o t a l ___

No. 322.
THE PEOPLES STATE BANK OF HOLLAND, HOLLAND.
Organized January 24, 1905.
G eorge

B.

T in h o l t , P r e s i d e n t ; J a y H . D e n H e r d e r , V i c e P r e s i d e n t ; C. L .
C a s h i e r ; L. C. D a l m a n , C l a r e n c e K l a a s e n , A s s i s t a n t C a s h i e r s .

D ir e c t o r s .— George

J a l v in g ,

B. Tinholt, Jay H. DenHerder, C. L. Jalving, H. S. Coveil, M.
Oudemool, J. W. DeVries, A. C. Keppel.

Statement December 31, 1938.
LIABILITIES

ASSETS

Demand deposits of individuals, partner­
Loans and discounts ___________________ $1,081,160.64
ships, and corporations ______________ $875,640.32
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed________________
293,209.37
and corporations ____________________ 1,147,800.87
Other bonds, stocks, and securities________________ 313,129.29
State, county, andmunicipaldeposits____
284,319.64
Banking house ____________________
63,000.00
United States Government and postal
Furniture and fixtures _________________
21,028.70
savings deposits ______________________
5,359.06
Reserve with Federal Reserve B a n k ________________ 260,460.20
Deposits of other banks, certified and
Cash, balances with other banks, and
cashier’s
checks,
cash
letters
of
credit
cash items in process of collection_______________ 483,982.57
and travelers’ checksoutstanding_____
29,255.84
Other assets____________________________
127.98
Other liabilities ________________________
7,565.01
Capital account:
Common stock ________________
150,000.00
S urplus_______________________________
7,500.00
Undivided profits _____________________
8,658.01
Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,516,098.75

Total

$2,516,098.75

132

STATE BANKING DEPARTMENT
No. 106.
THE FIRST STATE AND SAYINGS BANK OF HOLLY, MICHIGAN.
Organized October 11, 1890.

J o h n J. H a a s , P r e s i d e n t ; W a l t e r E. L e n t z , V i c e P r e s i d e n t
D u m a s , A s s i s t a n t C a s h ie r .

and

C a sh ie r ;

Jam es

A.

D ir e c t o r s .— John J. Haas, James S. M itchell, F. F. W ooton, John H. Patterson, W alter E.

Lentz, Maurice Winglemire, E. A. Hartz.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $322,740.37
United States Government obligations,
direct and guaranteed ____ ,__________
142,280.84
Other bonds, stocks, and securities_____
204,199.14
Banking house ________________ _________
20,000.00
Furniture and fixtures _________________
5,000.00
Reserve with Federal Reserve Bank____
49,422.58
Cash, balances with other banks, and
cash items in process of collection___
100,440.38

Demand deposits of Individuals, partner­
ships, and corporations ______________ $165,982.06
Time deposits of individuals, partner­
ships, and corporations ______________
545,942.65
State, county, and municipal deposits___
44,800.90
United States Government and postal sav­
ings deposits _________________________
619.85
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
5,777.04
and travelers’ checks outstanding____
Capital account:
Common stock _______________________
60,000.00
Surplus ______________________________
10,000.00
Undivided profits _____________________
1,960.81
Reserve for contingencies ____________
9,000.00

T o t a l ------------- -------------------------------------

$844,083.31

T o t a l ------------------------- -------------------------- $844,083.31

NO. 695.
THE HOLT STATE BANK, HOLT.
Organized January 24, 1922.
H.

E.

Gunn,

J. H im e l b e r g e r ., A l f r e d W a l t e r , V i c e P r e s i d e n t s ;
C h a p p e l l , C a s h i e r ; C h a r l e n e C l e v e r , A s s i s t a n t C a s h ie r .
P r e s id e n t;

E.

H.

D ir e c t o r s — W alter S. Foster, Burt L. Green, H. E. Gunn, E. J. Himelberger, C. V. Keller,

A lfred W alter, Frank W rook.

Statement December 31, 1938.
ASSETS
Loans and discounts ___________________ $118,669.60
Overdrafts _____________________________
215.56
United States Government obligations,
direct and guaranteed________________
18,750.00
Other bonds, stocks, andsecurities______
42,165.00
Banking house _________________________
4,500.00
Furniture and fixtures _________________
964.00
Cash, balances with other banks, and
cash items in process of collection _____
69,917.01

Total ------------------------------------------------ $255,181.17


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits _____________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
Surplus ________________ 1_____________
Undivided profits ____________________
Reserve for contingencies_____________

$64,887.42
121,573.91
31,105.57
297.46
2,057.99
25,000.00
6,500.00
4,258.82
500.00

Total ------------------------------------------------ $255,181.17

133

STATE BANKS OF MICHIGAN
No. 255.
CALHOUN STATE BANK, HOMER.
Organized January 20, 1902.
C. R. C h u r c h ,

W m . M c K e n n a n , V i c e P r e s i d e n t ; L. E. W a r n e r , C a s h i e r ; H. A.
S n yd er , P. H. S in c l a ir , A s s i s t a n t C a s h i e r s .

P r e sid e n t;

D ir e c t o r s .-— C. R. Church, A. G. Hamilton, Wm. McKennan, W. G. Fogel, W. E. King,

G. C. Ballentine, Ellen S. Snyder.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $168,994.53
Overdrafts _____________________________
55.53
United States Government obligations,
direct and guaranteed________________
48,907.85
Other bonds, stocks, and securities-------161,059.42
Banking house _________________________
6,500.00
Furniture and fix tu res_I_______________
500.00
Cash, balances with other banks, and
49,627.26
cash items in process of co lle ctio n __
Cash items not in process of collection-143.71

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations -----------------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal d ep osits_
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding------Dividends declared but not yet payable—
Other liabilities ________________________
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ---------------------------- —
Total _______________________________

$435.788.30

$83,833.83
264,721.04
33,207.70
48.79
834.00
1,295.32
41,700.00
9,300.00
847.62
$435.788.30

No. 597.

THE HONOR STATE BANK, HONOR.
Organized June 9, 1917.
W m . P. G r i f f i t h s , P r e s i d e n t ; P . G. P e c k , V i c e P r e s i d e n t ; L eo H. S t a c e y , C a s h i e r ;
J o h n S m i t h , A s s i s t a n t C a s h i e r ; G eorge A . B e n n e t t , A u d i t o r .
D ir e c t o r s .-—W m. P. Griffiths, E. G. Peck, Leo H. Stacey, B. G. Bennett, George A. Ben­

nett, Asa H. Case, W. O. Kiracofe.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________________ $139,321.73
Overdrafts _____________________________
44.30
United States Government obligations,
direct and guaranteed -------------- 1---------31,717.88
Other bonds, stocks, andsecurities______
8,784.00
Banking house _________________________
2,500.00
Furniture and fixtures _________________
1,300.00
Real estate owned other than banking
house ______ ._______________________ —
1,048.07
Cash, balances with other banks, and
cash items in process of collection____ 79,939.04

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$264,655.02

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits—
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------Dividends declared but not yet payable—
Other liabilities ------Capital account:
First prefered s t o c k __________________
Common stock _______________________
Undivided profits ____________________
Preferred stock retirement f u n d ---------Total _______________________________

$51,173.36
147,175.64
24,736.83
4,482.46
260.75
1,877.09
14,900.00
15,000.00
3,448.89
1,600.00
$264,655.02

134

STATE BANKING DEPARTMENT
No. 353.
THE HOPKINS STATE SAVINGS BANK, HOPKINS.
Organized September 20, 3906.

C. B. H o f f m a s t e r ,

P r e s id e n t;
C a sh ier;

D ir e c t o r s .— Ralph

Kreuzer,

M an uel B re n n er, V ic e P r e s id e n t ;
L. P. R en o , A c t i n g V i c e P r e s i d e n t .

A.

C.

Frue, Manuel
McBride.

Brenner,

C.

B.

A n na

B. W a l t e r ,

Hoffmaster,

Harlie

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________
United States Government obligations,
direct and guaranteed__ _____________
Other bonds, stocks, and securities ____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____

Total

$67,530.25
95,525.00
12,207.50
6,000.00
1,926.26
33,552.38

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Undivided p ro fits _____ _______________

----------------------------------------------- $216,741.39

Total

----------------------------------------------

$42,092.86
136,043.85
11,795.79
1,431.14
25,000.00
377.75
$216,741.39

No. 643.
HOWARD CITY STATE BANK, HOWARD CITY.
Organized February 10, 1920.
E no C. Y a n k ®, P r e s i d e n t ;

S id n e y R e y n o l d s , W il l i a m H . C o l l in s , V i c e P r e s i d e n t s ;
C h e s t e r L. C r i m m i n s , C a s h ie r .

D ir e c t o r s .— Raymond M. Stetson, Sidney Reynolds, Chester L. Crimmins, Bert E. Meier,

Eno C. Yanke.

Statement December 31, 1938.
ASSETS
Loans and discounts _____ ____ ________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process ofcollection___
Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$85,912.54

131,833.12
59,096.49

90,508.01

Demand deposits of individuals, partner­
ships, and corporations____________ ,__
Time deposits of individuals, partnerships,
and corporations _______________ - ____
State, county, and municipal d eposits__
Capital account:
Common stock _______________________
Undivided profits _____________________

$279,916.76

T o t a l -------- ---------------- -----------------------

$279,916.76

38,500.00
62,496.21
2,000.00
500.00

$47,905.14

25,000.00
16,082.01

135

STATE BANKS OF MICHIGAN
No. 109.
THE FIRST STATE & SAVINGS BANK OF HOWELL, MICHIGAN.
Organized November 26, 1890.

W m . E. R o b b , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d j D on W . V an W i n k l e , V i c e P r e s i ­
d e n t ; A . L. S m i t h , C a s h i e r ; B. L. H ig h t , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Wm. E. Robb, A. L. Smith, Don W. Van Winkle, Harry L. W illiams, Wm. E.

Beach, Bert S. Tate, Bert W. Hoff, Berthold. Woodhams, H. R. Gillette.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $232.802.11
Overdrafts _____________________________
26.67
United States Government obligations,
direct and guaranteed _____________ —
125,499.04
Other bonds, stocks, and securities-------108,512.37
25,000.00
Banking house _________________________
Furniture and fixtures _________________
5,000.00
Reserve with Federal Reserve B a n k ____
47,009.60
Cash, balances with other banks, and
cash items in process of collection-----65,233.11
1,001.80
Other assets ___________________________

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $239,199.42
Time deposits of individuals, partner­
ships, and corporations ______________
207,498.48
State, county, and municipal deposits —
59,356.03
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------30,872.74
3,082.09
Other liabilities ________________________
Capital account:
Common stock _______________________
62,250.00
1,500.00
Surplus _______________________________
Undivided profits --------------------------------6,325.94

T o t a l _____ ________________ - _______

$610,084.70

Total _______________________________

$610,084.70

No. 559.
McP h e r s o n s t a t e b a n k , h o w e l l .
Organized February 24, 1915.
R. B ru ce M c P h e r s o n ,
P r e s id e n ts ;

W m . M c P h e r so n S m i t h , W m . M cP h e r s o n , III., V ic e
E r ic R e in e r , C a s h i e r ; R a l p h H. L a r so n , A s s i s t a n t C a s h ie r .
P r e s id e n t ;

D ir e c t o r s .— R. Bruce McPherson, W m . McPherson, III., Wm. McPherson

Smith, Wm.

McPherson Browhing, Robt. H. McPherson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $655,631.69
Overdrafts _____________________________
160.41
United States Government obligations,
direct and guaranteed________________
822,331.25
Other bonds, stocks, andsecurities---------752,220.31
33,201.58
Banking house _________________________
Furniture and fixtures ______________
3,087.78
Real estate owned other than banking
house ________________________________
36,519.02
Cash, balances with other banks, and
cash items in process of collection ____
616,199.64

Demand deposits of individuals, partner­
ships, and corporations ______________ $672,612.74
Time deposits of individuals, partnerships,
and corporations ____________________ 1,548,661.27
State, county, andmunicipaldeposits —
119,654.96
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding------1,854.36
Other liabilities ________________________
142.72
Capital account:
First preferred stock --------------------------- 240,000.00
Second preferred stock _______________
100,000.00
Common stock -------------------- 1-------------150,000.00
Undivided profits ____________________
24,394.94
Reserve for contingencies ------------------62,000.00
Prefererd stock retirement fund_______
30.69

Total _______________________________ $2,919,351.68

Total _________________________________ $2,919,351.68


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

136

STATE BANKING DEPARTMENT
No. 784.
HUDSON STATE SAYINGS BANK, HUDSON.
Organized December 29, 1933.
Branch in Waldron, Michigan.

B yron J. P o s t e r , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d .; L a w r e n c e J. F o st e r , V ic e
P r e s i d e n t ; V a i , W . F is h e r , C a s h i e r ; R a l p h W . M o in e , C l if f o r d J. S pr a g u e , A s s i s t a n t
C a sh iers.

D ir e c t o r s .— Val W. Fisher, Albert V. Foster, Byron J. Foster, Lawrence J. Foster, Samuel

F.

Taylor.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $409,502.58
.26
O verdrafts______________________________
United States Government obligations,
direct and guaranteed ________________
452,377.66
Other bonds, stocks, and securities____
197,163.47
43,751.20
Banking house _________________________
Furniture and fixtures _________________
9,782.69
Real estate owned other than banking
house ---------------19,872.39
Cash, balances with other banks, and
cash items in process of collection____
149,562.24

Demand deposits of individuals, partner­
ships, and corporations ______________ $201,706.69
Time deposits of individuals, partnerships,
829,670.10
and corporations _____________________
State, county, and municipal deposits__
93,333.16
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
4,778.01
and travelers’ checks outstanding____
Capital account:
Common stock ____
100,000.00
27,000.00
Surplus -----------------------------------------------Undivided profits ____________________ _
25,524.53

Total ------------------------------------------------ $1,282,012.49

Total ------------------------------------------------ $1,282,012.49

No. 143.
THOMPSON SAYINGS BANK, HUDSON.
Organized October 14, 1892.
W . R. T h o m p s o n , P r e s i d e n t ; L. P. B e a l , V i c e P r e s i d e n t ; E. J. S c o v il l , C a s h i e r ; E. C.
R ic k e n b a u g h , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— W . R. Thompson, B. D. Chandler, C. G. Beadenkopf, E. J. Scovill, E. C.

Rickenbaugh, L. P. Beal, W. G. Thompson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $620,286.70
Overdrafts _____________________________
2.17
United States Government obligations,
direct and guaranteed ________________
31,200.00
Other bonds, stocks, and securities____
269,504.22
Banking house ___________
42,073.82
Furniture and fixtures _________________
1,271.08
Real estate owned other than banking
house _____________ _ _________________
14,270.42
Cash, balances with other banks, and
cash items in process of collection ___
320,868.12

Demand deposits of individuals, partner­
ships, and corporations_______________ $215,199.55
Time deposits of individuals, partner­
ships, and corporations ______________
844,941.17
State, county, and municipal deposits___
91,054.48
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
495.29
Interest, taxes, and other expenses ac­
crued and unpaid ____________________
1,786.04
Capital account:
Common stock _______________________
100,000.00
Surplus ______________________________
25,000.00
Undivided p ro fits _____________________
21,000.00

Total

--------------------------------------------- -$1,299,476.53


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Federal Reserve Bank of St. Louis

Total

-----------------------------------------------$1,299,476.53

STATE BANKS OF MICHIGAN

137

No. 492.
THE HUDSONVILLE STATE BANK, HUDSONVILLE.
Organized June 12, 1911.
O r r in E d so n , P r e s i d e n t ; W m . C. B oldt , V i c e P r e s i d e n t ; F red F . M c E a c h r o n , C a s h i e r ;
H e n r y P. S t e g e m a n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Orrin

Edson, Wm. C. Boldt, M. L. Boldt, LaM ott McEachron, Fred F.
McEachron, F. Dale Curtis.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities____
Banking house ________________________ _
Furniture and fix tu res________ :_________
Cash, balances with other banks, and
cash items in process of collection____

$92,007.50
12.71

Total _______________________________

$279,219.94

20,604.69
78,715.01
3,500.00
500.00
83,880.03

Demand deposits of individuals, partner­
ships, and corporations_______________ $104,745.63
Time deposits of individuals, partnerships,
and corporations _____________________
136,281.52
State, county, and municipal deposits___
10,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
. 1,055.40
Capital account:
First preferred s t o c k _____ ___________
12,500.00
Common stock _______________________
12,500.00
Undivided profits _____________________
2,137.39
Total _______________________________

$279,219.94

No. 794.

I ML AY CITY STATE BANK, IMLAY CITY.
Organized April 19, 1935.
E l m e r S h d m a e , C h a ir m a n o f t h e B o a r d a n d P r e s i d e n t ; R ay A . B u t l e r , V i c e P r e s i d e n t ;
D e w e y N. W e i s s , C a s h ie r .
D ir e c t o r s .-—Elmer

Shumar, Ray A. Butler, Dewey N. Weiss, Myron Fancher, Byron
Courier.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------Overdrafts _____________________________
United States Government obligations,
direct and guaranteed________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection-------

$84,332.28
5.78

Total _______________________________

$413,978.01


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

150,473.57
83,778.07
2,700.00
537.30
52,422.23
39,728.78

Demand deposits of individuals, partner­
ships, and corporations ______________ $138,281.89
Time deposits of individuals, partnerships,
and corporations ____________________
196,329.23
State, county, andmunicipal deposits____
37,565.33
United States Government and postal
savings d ep osits____ _________________
884.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding______
5,008.74
Other liabilities ________________________
577.33
Capital account:
Common s t o c k -----------------------------------25,000.00
Surplus _______________________________
7,000.00
Undivided profits --------------------------------3,331.49
Total _______________________________

$413,978.01

138

STATE BANKING DEPARTMENT
No. 191.
STATE SAVINGS BANK OF IONIA, IONIA.
Organized December 1, 1896.
Branch in Belding, Michigan.

R o y a l A . H a w l e y , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; F r e d e r ic k B. P o s t , E x e c u t i v e
V i c e P r e s i d e n t ; G eorge H. C o e , V i c e P r e s i d e n t ; W . Y. T e m p l e t o n , C a s h i e r ; G. L .
Y a t e s , J o s . A . H o u c k , A s s i s t a n t C a s h i e r s ; C. H . C ook , B r a n c h M a n a g e r .
D ir e c t o r s .— Royal A. Hawley, A. V. W right, F. O. Eldred, Dr. F. M. Marsh, George H.

Coe, H. E. Kidder, N. J. Ogilvie, H. H. Darling, C. L. Fuller, F. B. Post, R. A. Colwell.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $864,016.49
Overdrafts _____________________________
34.06
United States Government obligations,
direct and guaranteed_______ ________
79,268.87
Other bonds, stocks, and securities_____
196,570.30
Banking house _________________________
35,387.73
Furniture and fixtures _________________
6,104.71
Cash, balances with other banks, and
687,900.35
cash items in process of collection____
Investments and other assets indirectly
representing banking house or other
real esta te__ - ________________________
950.00

Demand deposits of individuals, partner­
$513,235.97
ships, and corporations _____________
Time deposits of individuals, partnerships,
and corporations _____________________
984,953.87
State, county, and municipal deposits___
214,634.44
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
5,950.89
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
25,000.00
Common stock _______________________
100,000.00
Surplus ______________________________
20,000.00
3,332.34
Undivided profits _____________________
Preferred stock retirement fund_______
3,125.00

Total _______________________________ $1,870.232.51

Total _______________________________ $1,870.232.51

No. 135.

THE COMMERCIAL BANK OF IRON MOUNTAIN, IRON MOUNTAIN.
Organized February 1, 1892.
O. C. D a v id s o n , C h a ir m a n o f t h e B o a r d ; W. W. T h o m p s o n , P r e s i d e n t ; W. J. S t u t z m a n ,
E x e c u t i v e V i c e P r e s i d e n t ; E. G. K in g sf o r d , V i c e P r e s i d e n t ; F. O. M o r r e t t , C a s h i e r ;
E. F. S a n d e r c o c k , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— M. J. Bacco, O. C. Davidson, E. G. Kingsford, S. J. McCabe, W. B. Thom p­

son, W. W. Thompson, Raymond Turner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $558,737.08
Overdrafts _____________________________
15.38
United States Government obligations,
direct and guaranteed ________________
128,575.00
Other bonds, stocks, and securities_____
925,083.70
95,000.00
Banking house _________________________
Furniture and fixtures ___
35,000.00
Real estate owned other than banking
house ________________________________
51,393.27
Reserve with Federal Reserve Bank_____
158,273.06
Cash, balances with other banks, and
cash items in process of collection_____
333,485.32
Cash items not in process of collection—
315.81

Demand deposits of individuals, partner­
ships, and corporations ______________ $586,381.04
Time deposits of individuals, partnerships,
and corporations _____________________ 1,268,567.63
State, county, and municipal deposits___
151,008.25
United States Government and postal
savings d ep osits_____________________
29,500.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
23,951.28
Capital account:
First preferred stock _________________
90,000.00
Common stock _______________________
100,000.00
Surplus ______________________________
10,000.00
Undivided profits _____________________
25,020.42
Preferred stock retirement fund______
1,450.00

Total _______________________________ $2,285,878.62

Total _______________________________ $2,285,878.62


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Federal Reserve Bank of St. Louis

139

STATE BANKS OF MICHIGAN
No. 501.
THE MINERS’ STATE BANK OF IRON RIVER, IRON RIVER.
Organized April 23, 1912.
H en ry

H. F r a il in g , P r e s i d e n t ; H e r m a n H o l m e s , J o h n A. M o n ro e , V i c e
C ar l G. N e l s o n . C a s h i e r ; C. A. N e l s o n , A s s i s t a n t C a s h ie r .

P r e s id e n ts ;

D ir e c t o r s .— Henry H. Frailing, Herman Holmes, John A. Monroe, F. E. Brown, G. M.

Cannon, Joe Selin, L. E. Irvine.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ____________________ $199,677.14
United States Government obligations,
direct and guaranteed ________________
164,200.00
Other bonds, stocks, and securities_____
50,605.02
Banking house --------------------------------------10,272.00
Furniture and fixtures _________________
2,171.10
Reserve with Federal Reserve Bank_____
50,616.63
Cash, balances with other banks, and
cash items in process of collection_____
83,840.45

Demand deposits of individuals, partner­
ships, and corporations _______________ $215,543.35
Time deposits of individuals, partnerships,
and corporations _____________________
215,477.77
State, county, and municipal deposits___
69,532.29
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,740.98
Capital account:
Common stock _______________________
50,000.00
Undivided profits ___________
5,087.95

Total ____________________ - _________

Total _______________________________

$561,382.34

$561,382.34

No. 12.

THE PENINSULA BANK, ISHPEMING.
Organized October 27, 1887.
J o h n K a n d e l in , P r e s i d e n t ; D r . W il f r e d S. P ic o t t e , V i c e P r e s i d e n t ; P ete r H a n db erg ,
C a s h i e r ; R oy S t a n s b u r y , J o h n J a a k s i , J u l iu s E. L ereggen , A s s i s t a n t C a s h i e r s ; W m .
T r e b il c o c k , A u d i t o r .
D ir e c t o r s .— Thomas W. Hughes, John Kandelin, W aldo T. Potter, Wm. Trebilcock, Dr.

W ilfred S. Picotte, Charles Simons, Harry S. Peterson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $384,779.35
Overdrafts _____________________________
10.58
United States Government obligations,
direct and guaranteed _________
888,116.03
Other bonds, stocks, and securities_____
326,711.30
Banking house _________________________
25,000.00
Cash, balances with other banks, and
cash items in processof collection_____
302,725.71
Other assets ____________________________
130.00

Demand deposits of individuals, partner­
$256,253.42
ships, and corporations_________
Time deposits of individuals, partnerships,
and corporations _____________________ 1,291,095.52
State, county, and municipal deposits___
87,052.42
United States Government and postal
savings deposits ______________________
25,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
675.00
Interest, taxes, and other expenses ac­
crued and unpaid ____________ ___ ,___
2,000.00
Capital account:
Common stock _______________________
100,000.00
Surplus _____ _________________________
100,000.00
Undivided profits _____________________
65,396.61

Total _______________________________ $1,927,472.97

Total _______________________________ $1,927,472.97


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Federal Reserve Bank of St. Louis

140

STATE BANKING DEPARTMENT
No. 177.
JACKSON CITY BANK & TRUST COMPANY, JACKSON.
Organized January 1, 1865. Reorganized December 26, 1894.

J o h n W. M in e r , P r e s i d e n t ; C. F. S p a e t h , E x e c u t i v e V i c e P r e s i d e n t ; B. R. L a r a w a y ,
H. J. S m i t h , V ic e P r e s i d e n t s ; R. B. W a l k e r , C a s h i e r ; L. W . S h e r e r , L. J. C l a r k e ,
R. A . L e w t s , A s s i s t a n t C a s h i e r s ; H . R. L e s l i e , T r u s t O ff i c e r ; C. R. M il l e r , A s s i s t a n t
T r u s t O f f i c e r ; B. A . S c h r o e d e r , A u d i t o r .
D ir e c t o r s .— B. R. Laraway, J. W. Miner, C. Z. Potter, E. A. Bancker, I. M. Dach, G. M.

Carter, H. J. Smith, C. B. Hayes, R. E. Lewis, C. F. Spaeth, C. G. Munn, T. J. M cIntyre.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_________ _________
Overdrafts ___________________________
United States Government obligations,
direct and guaranteed
__________
Other bonds, stocks, andsecurities_____
Banking house ______
Furniture and fixtures _______________
Real estate owned other than banking
house ----------------------------------------------Reserve with Federal Reserve Bank___
Cash, balances with other banks, and
cash items in process of collection___
Cash items not in process of collection
Investments and other assets indirectly
representing banking house or other
real estate --------------------------------------Other assets________________________ _

$3,280,213.43
2,197.53
3,159,000.00
1,475,120.74
300,000.00
89,413.70
101,349.30
725,688.50
1,249,743.31
2,754.93
159,750.00
65,121.60

Demand deposits of individuals, part­
nerships, and corporations
______
Time deposits of individuals, partner­
ships, and corporations ____________
State, county, and municipaldeposits __
United States Government and postal
savings deposits ____________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
Interest, taxes, and other expenses ac­
crued and unpaid __________________
Other liabilities ______________________
Capital account:
First preferred stock _______________
Common stock _____________________
Surplus -------------------------------------------Undivided profits ___________________
Reserve for contingencies___________
Preferred stock retirement fund_____

T ota l ------------------------------------------------- $10,610,353.04

$3,459,588.53
4,676,721.07
1,077,639.21
28,019.30
126,779.33
5,000.00
46.48
434,500.00
300,000.00
300,000.00
78,308.19
120,164.68
3,586.25

T o ta l -------------------------------------------------$10,610,353.04

NO. 115.
THE GROSVENOR SAVINGS BANK, JONESVILLE.
Organized February 10, 1891.
C h a r l e s G. W h i t e , P r e s i d e n t ; H a r ry G o dfr e y , V i c e P r e s i d e n t ; W

il l ia m

M. W e t m o r e ,

V i c e P r e s i d e n t a n d C a s h ie r .

D ir e c t o r s .— Charles G. W hite, Harry

Godfrey, W illiam M. Wetmore, W. H. Ditmars,
J. S. Lewis, Andrew Mack, Richard S. Varmim.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $150,554.14
Overdrafts _____________________________
6.96
United States Government obligations,
direct and guaranteed____ ______
108,098.18
Other bonds, stocks, andsecurities______
109,213.54
Banking house _________________________
8,000.00
Furniture and fixtures__________ ________
2,000.00
Reserve with Federal Reserve Bank__ ___
53,037.12
Cash, balances with other banks, and
cash items in process of collection____
39,973.81
Cash items not in process of collection^
126.38
Total — -------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$471,010.13

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________
State, county, and municipal deposits___
United States Government and postal
savings deposits ____________
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________

$90,261.32
274,481.61
29,275.99
31,061.26
35,000.00
8,300.00
2,629.95

Total ------------------------------------------------ $471,010.13

141

STATE BANKS OF MICHIGAN
No. 147.
THE HOME SAYINGS BANK OF KALAMAZOO, KALAMAZOO.
Organized November 21, 1892.

F r a n k E. M cA l l is t e r , P r e s i d e n t ; F o st e r J. H e r m a n , E x e c u t i v e V i c e P r e s i d e n t ; W . B.
M i l h a m , V i c e P r e s i d e n t ; N. S. P ond , C a s h i e r ; W m . F. C. D o o r n in k , F. J. H e r m a n ,
A s s i s t a n t C a s h i e r s ; C. H. K r u ize n g a , A u d i t o r .

D irectors .— Jos. E. Brown, W. E. Kidder, W. B. Milham, Frank E. M cAllister, R. L.
Gilkey, Geo. E. Monroe.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $696,715.54
Overdrafts --------------------------------------------19.94
United States Government obligations,
direct and guaranteed________________
339,773.69
Other bonds, stocks, and securities-------680,849.32
Banking house -----------------------------35,078.58
Furniture and fixtures _________________
5,307.02
Cash, balances with other banks, and
446,904.35
cash items in process of collection-----Cash items not in process of collection—
124.24
1,565.16
Other assets ______________

Demand deposits of individuals, partner­
ships, and corporations------------------------ $936,178.77
Time deposits of individuals, partnerships,
815,568.55
and corporations ____ -. -----------------------State, county, and municipal deposits----214,889.12
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------89,594.22
Interest, taxes, and other expenses ac­
2,408.26
crued and unpaid ____________________
Other liabilities ________________________
3,590.24
Capital account:
Common stock _______________________
138,800.00
Undivided profits _____________________
5,308.68

Total _______________________________ $2,206,337.84

Total _______________________________ $2,206,337.84

KALAMAZOO INDUSTRIAL BANK, KALAMAZOO.
Organized August 25, 1928.
C h a r l e s J. M onroe , P r e s i d e n t ; W a l t e r L . O t i s , G eo . E . M o n ro e , C h a r l e s E . F in l e y ,
V ic e P r e s i d e n t s ; L e w i s A . C a m p b e l l , C a s h i e r ; A n ne S p e r r y , O p a l C o n f e r , I re n e
B e r r y , B e r y l E g g l e st o n , A s s i s t a n t C a s h i e r s ; E dm o n d W . C h a s e , S e c r e t a r y ; E l i z a ­
b e t h G ib b , A u d i t o r .
D ir e c t o r s .— N. J. Baumann, Edmond W. Chase, Charles E. Garrett, A . E. Kettle, Geo.

E. Monroe, Charles J. Monroe, Stephen B. Monroe, W alter L. Otis, H arold J. Vermeulen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $493,597.22
United States Government obligations,
direct and guaranteed ------------------------92,749.63
Other bonds, stocks, and securities------- 276,724.02
Furniture and fixtures---------------------------1,351.58
Cash, balances with other banks, and
cash items in process of collection------- 508,905.70
Other assets____________________________
2,153.11

Demand deposits of individuals, partner­
ships, and corporations_______________ $100,258.72
Time deposits of individuals, partnerships,
and corporations --------------------------------- 1,061,264.21
State, county, and municipaldeposits------2,050.50
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------34,844.21
Interest, taxes, and other expenses ac­
12,749.51
crued and unpaid ------------------------------Dividends declared but not yetpayable—
780.00
Other liabilities ________________________
41,782.80
Capital account:
Common stock _______________
52,000.00
Surplus ______________________________
52,000.00
Undivided profits -------------------------------17,751.31

Total _______________________________ $1,375,481.26

Total _______________________________ $1,375,481.26


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

142

STATE BANKING DEPARTMENT
No. 674.
THE KALEVA STATE BANK, KALEYA.
Organized March 7, 1921.

A u g u s t L e n z , P r e s i d e n t ; E in a r L. H ag elb erg , F i r s t V i c e P r e s i d e n t ; F r a n k H. W il s o n ,
2 n d V i c e P r e s i d e n t a n d C a s h i e r ; J. A . L u h t a n e n , A s s i s t a n t C a s h i e r ; M. A . G u s t a f s o n ,
D. E . H il l s a m e r , A u d i t o r s .
D ir e c t o r s .— August Lenz, Einar L. Hagelberg, D. E. Hillsamer, Frank H. W ilson, M. A.

Gustafson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts --------------------------------------------United States Government obligations,
direct and guaranteed
______________
Other bonds, stocks, andsecurities______
Banking house --------------------------------------Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection_____

Total ------------------------------------------------

$82,759.66
’ 25^95
10,000.00
34,571.00
5,000.00
1,000.00
20,861.62

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock ______________
Undivided profits ___________________ _

$154,218.23

$43,321.00
77,009.25
10,000.00
577.09
20,000.00
3,310.89

Total ------------------------------------------------ $154,218.23

No. 257.
THE KALKASKA STATE BANK, KALKASKA.
Organized January 14, 1902.
L. O. B l o o m e r ,
V ic e

G. B. K il b o u r n e , S. C. S h u m s k y
A v e ry G a f f ie l d , C a s h i e r ; K . D. T i m m i n s , A s s i s t a n t C a s h ie r .

P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ;

P r e s id e n ts ;

D ir e c t o r s .— L. O. Bloomer, G. B. Kilbourne, M. C. Bloomer, R. J. Smith, S. C. Shumsky,
K.
D. Timmins, Fred Aemisegger.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $209,214.97
Overdrafts _____________________________
’ go.oi
United States Government obligations,
direct and guaranteed ________________
44,200.00
Other bonds, stocks, and securities_____
12,007.50
Banking house --------------------------------------10,000.00
Furniture and fixtures _________________
2,053.00
Real estate owned other than banking
house -------------------------------------------------1,243.75
Cash, balances with other banks, and
cash items In process of collection____ 167,645.94
Other assets ____________________________
462.50

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$446,907.67

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations --------------------------------State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Other liabilities ________________________
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ----------------------------------------------Undivided profits _____________________
Preferred stock retirement fund_______
Total ----------------------------------------------------

$66,027.26
252,055.65
67,568.45
997.35
1,267.28
19,000.00
25,000^00
10,000.00
3,491.68
ljsoo.00
$446,907.67

143

STATE BANKS OF MICHIGAN
No. 451.
THE KENT CITY STATE BANK, KENT CITY.
Organized April 28, 1910.

A . H. S a u r , P r e s i d e n t ; F . N. C h u r c h , V i c e P r e s i d e n t ; M. E . M oore , C a s h i e r ; R. J.
K r ig e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— A . H . Saur, Nels Anderson, M. E . Moore, Cornelius Gerber, F. N. C hurch,

R. J. Kriger.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $171,854.40
Overdrafts _____________________________
23.65
United States Government obligations,
direct and guaranteed______ ___ _____
57,198.00
Other bonds, stocks, and securities-------11,802.50
Banking house -----------------6,200.00
Furniture and fixtures__________________
1,100.00
Real estate owned other than banking
house ________________________________
1,803.00
Cash, balances with other banks, and
cash items in process of collection------110,418.74

Demand deposits of individuals, partner­
$111,645.31
ships, and corporations---------------------Time deposits of individuals, partnerships,
and corporations _______________________174,021.53
State, county, andmunicipal deposits------32,113.58
United States Government and postal
435.00
savings deposits ---------------------------------Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
434.00
and travelers’ checksoutstanding--------Other liabilities ________________________
24.06
Capital account:
Common stock _______________________
27,000.00
Surplus ______________________________
8,000.00
6,485.00
Undivided profits --------------------------------Reserve for contingencies_____________
241.81

Total _______________________________

Total _______________________________

$360,400.29

$360,400.2»

NO. 514.
THE KINDE STATE BANK, KINDE.
Organized July 20, 1912.
Branch in Caseville, Michigan.
F r a n k W. H u bbard , C h a ir m a n o f t h e B o a r d ; W. R. E v e r in g h a m , P r e s i d e n t ; Jos. N.
R a n k in , J a m e s L. B u r g e ss , V i c e P r e s i d e n t s ; H er b e r t A. L u e c k e , C a s h i e r .
D ir e c t o r s .— Frank W. Hubbard, Jos. N. Rankin, W. R. Everingham, F. Langdon Hubbard,

James L. Burgess.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $217,355.49
United States Government obligations,
56.125.00
direct and guaranteed ________________ ,
155,342.37
Other bonds, stocks, and securities-------5.000.
Banking house _________________________
1. 000. 00
Furniture and fixtures _________________
Cash, balances with other banks, and
79.514.01
cash items in process of collection-------

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$514,336.87

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State,
county, and municipal deposits___
00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ----------------------------------------------Undivided profits _____________________
Total _______________________________

$97,416.69
295,306.39
40,199.74
8,269.39
20,000.00
30,000.00
17,500.00
5,644.66
$514,336.87

144

STATE BANKING DEPARTMENT
No. 504.
THE KINGSTON STATE BANK, KINGSTON.
Organized June 13, 1912.

A lbert

P eter,

P r e s id e n t;

N e il H . B u r n s, V ic e P r e s i d e n t ;
W il l i a m B u h l , A s s i s t a n t C a s h ie r .

A.

M ar sh all,

C a sh ier;

D ir e c t o r s .— A . Marshall, Albert Peter, Neil H. Burns, John Barden, L. A. Heineman,

N.

Karr, J. A. McKenney.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fix tu res________________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____

Total --------------------------------------------- -

$60,514.70
52,050.00
1,710.00
1,900.00
508.50
51,461.39
27,549.95

Demand deposits of individuals, partner­
ships, and corporations_______________
$46,084.14
Time deposits of individuals, partnerships,
and corporations ____________________
100,392.69
State, county, andmunicipal deposits___ 15,664.83
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
2,969.85
Other liabilities ________________________
427.05
Capital account:
25,000.00
Common stock ___________________
Surplus ______________________________
3,000.00
Undivided p ro fits _______
2,155.98

$195,694.54

Total ------------------------------------------------ $195,694.54

NO. 383.
THE UNION STATE BANK OF LAINGSBURG, MICHIGAN.
Organized November 12, 1907.
S e y m o u r P ia t t , P r e s i d e n t ; E m il L ee , V i c e P r e s i d e n t ; E . L . P i a t t , C a s h i e r ; D o r o t h y I.
S c h o als, A s s is t a n t C a sh ier.
D ir e c t o r s . — Seymour Piatt, E. L. Piatt, W ard A. Smith, Emil Lee, T. A. Euler, H. M.

Smith.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $128,206.77
United States Government obligations,
direct and guaranteed________________
41,175.00
Other bonds, stocks, and securities____
9,630.50
Banking house _________________________
1,300.00
Furniture and fix tu res__ _______________
700.00
Real estate owned other than banking
house -------------------------------------------------4,000.00
Cash, balances with other banks, and
cash items in process of collection____
53,602.86

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$238,615.13

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities ________________________
Capital account:
Common s to c k ___________________ _____
Surplus -------------------------r_____________
Undivided profits _____________________
Total ------------------------------------------------

$58,809.49
108,360.79
30,796.82
618.00
841.77
25,000.00
13,000.00
1,188.26
$238,615.13

STATE BANKS OF MICHIGAN

145

No. 417.
THE LAKE CITY STATE BANK, LAKE CITY.
Organized December 21, 1908.
S im A r d is ,

P r e s id e n t;

W. J. A r d is ,

V i c e P r e s i d e n t ; H e r b e r t G. B a c o n , C a s h i e r ; H. L.
L a m b , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— R. M. Bielby, Sim Ardis, W. J. Ardis, H. G. Bacon, T. W. Kelly, Theo.

W allington, Orville Dennis.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $314,801.67
Overdrafts _____________________________
9.07
United States Government obligations,
direct and guaranteed________________
133,657.92
Other bonds, stocks, and securities_____
25,499.08
Banking house _________________________
5,000.00
Furniture and fixtures _________________
1,500.00
Cash, balances with other banks, and
cash items in process of collection____
132,615.28

Demand deposits of individuals, partner­
ships, and corporations_______________ $143,913.21
Time deposits of individuals, partnerships,
and corporations _____________________
300,835.40
State, county, and municipal deposits____
75,062.32
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
4,581.67
Other liabilities ________________________
7,000.00
Capital account:
First preferred s t o c k _________________
16,000.00
Common stock _______________________
25,000.00
Surplus ________ _____________________ _
27,000.00
10,690.42
Undivided profits _____________________
Preferred stock retirement fund_____
3,000.00

Total ------------------------------------------------ $613,083.02

Total ------------------------------------------------ $613,083.02

No. 283.
UNION BANK, LAKE ODESSA.
Organized October 10, 1903.
W il l i a m

M c C a r t n e y , P r e s i d e n t ; L o u is K r ie g e r , V i c e P r e s i d e n t ; C. C.
C a s h i e r ; G race M. M c C a r t n e y , L eo W . T u c k e r , A s s i s t a n t C a s h i e r s .
C.

T yson,

D ir e c t o r s .— Louis Krieger, F. A. Page, David

Smith. Ellis W . Durkee, F. B. Baine,
W. C. McCartney, Rex Branch.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $251,076.51
Overdrafts _____________________________
19.86
United States Government obligations,
direct and guaranteed ________________
121,376.57
Other bonds, stocks, andsecurities_______
92,996.38
Banking h o u s e ___ ______________________
3,000.00
Furniture and fixtures__________________
428.00
Cash, balances with other banks, and
cash items in process of collection_____
118,660.94
Other assets____________________________
8.36

Demand deposits of individuals, partner­
ships, and corporations ______________ $125,011.51
Time deposits of individuals, partnerships,
and corporations _____________________
333,684.70
State, county, and municipal deposits___
72,046.94
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
972.54
Capital account:
Common stock _______________________
50,000.00
Undivided profits _____________________
5,258.18
Reserve for contingencies_____________
592.75

Total ------------------------------------------------ $587,566.62


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ------------------------------------------------

$587,566.62

STATE BANKING DEPARTMENT

146

No. 190.
ORION STATE BANK, LAKE ORION.
Organized April 23, 1896.
L ee E a r l e , P r e s i d e n t ; F r a n k H. L e s s i t e r , V i c e P r e s i d e n t ; K. B. C h a p i n , C a s h ie r .
D ir e c t o r s .— Lee Earle, Frank H. Lessiter, Chas. M. Howarth, Stuart J. Haddrill, Chas.

W. Berridge.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
United States Government obligations,
direct and guaranteed_______________ 1
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____
Other assets _____________ ._____________

Total _______________________________

$79,431.05
58,200.00
181,798.00
2,400.00
500.00
124,149.65
191.04

Demand deposits of individuals, partner­
ships, and corporations------------ ----------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Undivided profits _____________________
Total _______________________________

$446,669.74

$85,798.88
257,615.30
71,816.07
618.36
1,648.66
25,800.00
3,372.47
$446,669.74

No. 300.
BANK OF LAKEYIEW, LAKEVIEW.
Organized October 27, 1904.
D.

S. G r i f f i t h ,

P r e sid e n t;

C l if t o n A. Y o u n g m a n , V i c e P r e s i d e n t ; K e i t h

W i l l is o n ,

C a sh ier.

D ir e c t o r s .— D.

S. Griffith, George Rader, Keith W illison, Peter Peterson, C lifton A .
Youngman.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $110,752.18
United States Government obligations,
direct and guaranteed________________
2,000.00
Other bonds, stocks, and securities_____
38,141.50
Banking house _________________________
4,650.00
Furniture and fixtures____ :______________
1,000.00
Reserve with Federal Reserve Bank_____
94,417.78
Cash, balances with other banks, and
cash items in process of collection____
58,628.11

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$309,589.57

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus _______________________ _______
Undivided profits _____________________
Reserves ____________________________ _
Total _______________________________

$68,576.46
159,781.57
38,743.27
1,103.63
30,000.00
7,000.00
2,584.64
1,800.00
$309,589.57

STATE BANKS OF MICHIGAN

147

No. 518.
COMMERCIAL BANK OF L’ANSE, L’ANSE.
Organized July 17, 1912.
J ohn

B eck,

P r e s id e n t;

F red R o ge r s , V i c e P r e s i d e n t ; C l ar en c e
A r t h u r G. O h m a n , A s s i s t a n t C a s h ie r .

D u b u qu e ,

C a sh ie r ;

D ir e c t o r s .— Clarence Dubuque, Fred Rogers, Claude D. Riley, A ttilio Castigliano, John

Beck, W. T. Menge, Almor Penegor.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts.,___________________ $171,579.39
Overdrafts _____________________________
51.04
United States Government obligations,
direct and guaranteed ________________
59,855.28
Other bonds, stocks, and securities_____
93,940.00
Banking house _________________________
9,400.00
1,450.00
Furniture and fixtures __________________
Reserve with Federal Reserve Bank_____
43,857.27
Cash, balances with other banks, and
cash items in process of collection____
90,060.76
Other assets___________ ________________
1,268.10

Demand deposits of individuals, partner­
ships, and corporations _______________ $133,603.74
Time deposits of individuals, partnerships,
and corporations _____________________
165,577.06
122,807.88
State, county, and municipal deposits___
United States Government and postal
savings deposits ______
3,196.64
Capital account:
Common stock __________________
25,000.00
Surplus ----------------------------------------------20,000.00
Undivided profits _____________________
1,276.52

T o t a l ------------- ----------------------------------

$471,461.84

Total ------------------------------------------------ $471,461.84

No. 133.
AMERICAN STATE SAYINGS BANK, LANSING.
Organized January 4, 1892.
One Branch.
D.

E. B a t e s , C h a ir m a n o f t h e B o a r d a n d P r e s i d e n t ; A. A. E l s e s s e r , E x e c u t i v e V i c e
P r e s i d e n t ; H. F. H a r p e r , V i c e P r e s i d e n t ; J o h n H. M a r t in , V i c e P r e s i d e n t a n d C a s h i e r ;
A. W. W o o l s e y , E l l i s V a n S ic k l e , A s s i s t a n t C a s h i e r s ; A. J. S e y f r ie d , A s s i s t a n t
C a s h i e r a n d A u d i t o r ; E d. R o e , M a n a g e r S o u t h L a n s i n g B r a n c h .

D ir e c t o r s .-— D. E. Bates, A. A. Elsesscr, ,T. George Hagameir, H. F. Harper, Albert E.

Hurd, John H. Martin, F. Carew Martindale, J. Edward Roe, Frank A. Stolte, Frank
H. Thoman, Clyde J. Truesdell, Thomas A. Vandervoort.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________
$2,045,875.72
Demand deposits of individuals, partner­
Overdrafts _____________________________
8.02
ships, and corporations _______________ $3,402,804.4F
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed ________________ 1,245,073.04
and corporations ___ ____________ ,____ 2,757,248.43
Other bonds, stocks, and securities_____ 2,946,425.48
State, county, and municipal deposits __ 1,329,575.73
Banking house --------------------------------------- 219,220.03
Deposits of other banks, certified and
Furniture and fixtures__________________
36,963.50
cashier’ s checks, cash letters of credit
Reserve with Federal Reserve B a n k ________________ 620,708.28
and travelers’ checks outstanding___
468,390.52
Cash, balances with other banks, and
Other liabilities _____
28,393.64
cash items in process of collection____ 1,535,911.36
Capital account:
Other assets __________ :____________________________ 41,895.23
First preferred stock ________
150,000.00
Common s to c k --------------------500,000.00
Undivided profits _____________________
21,903.87
Reserve for contingencies ____________
24,387.46
Preferred stock retirement fund_______
7,501.60
Reserves --------------------------------------------1,875.00
Total ------------------------------------------------$8,692,080.66


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ---------------------- ------------------------ $8,692,080.66

STATE BANKING DEPARTMENT

148

No. 755.
BANK OF LANSING, LANSING.
Organized May 3, 1928.
One Branch.
J. W. W il f o r d , P r e s i d e n t
P r e s i d e n t ; D. D. H a r r is ,

F red M a r in , E x e c u t i v e V i c e
W. J. W e l l m a n , W. S.
R e c k , A s s i s t a n t C a s h i e r s ; E. A. F o e r c h , A u d i t o r ; H ar v e y I. S c o tt , B r a n c h M a n a g e r .
and

C h a ir m a n

V ic e P r e s id e n t;

of

th e

B oard;

J. A. A l ,l e n ,

C a sh ier;

D ir e c t o r s .— John Affeldt, Jr., George P. Anderson, W. Fred Barker, Charles F. Buehler,

Roy Dean, Albert L. Ehinger, H. Chris Hansen, D. D. Harris, Clayton F. Jennings,
Leroy Lewis, Fred Marin, M cKinley H. Reniger, Eric P. Teel, J. W. W ilford.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts---------------------------------$1,842,893.73
Overdrafts _____________________________
68.82
United States Government obligations,
direct and guaranteed------------------------658,604.69
Other bonds, stocks, and securities-------- 1,418,525.05
33,507.64
Banking house --------------------------------------Furniture and fixtures ------------------------16,337.21
Reserve with Federal Reserve Bank_____
525,739.30
Cash, balances with other banks, and
cash items in process of collection-------- 1,154,781.93
Cash items not in process of collection.32,314.13
Other assets____________________________
8,758.26

$5,691,530.76

Total

Demand deposits of individuals, partner­
ships, and corporations ------------------------$1,924,950.19
Time deposits of individuals, partnerships,
and corporations _____________________ 2,111,024.84
State, county, and municipal deposits----- 1,057,734.02
United States Government and postal
savings deposits ---------------------------------71,460.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding----------------------------- 104,410.02
Other liabilities -------------------------------------18,020.47
Capital account:
First preferred s t o c k --------------------------- 235,000.00
Common stock -----------------------100,000.00
Surplus ______________________________
30,000.00
Undivided p r o fits --------------------------------20,191.30
Reserves _____________________________
18,739.92
$5,691,530.76

Total

C EN TR AL TR U ST COMPANY, LAN SIN G .
Organized January 21, 1926.
E d m u n d C. S h ie l d s , P r e s i d e n t ; L eon R. G e r m a n , E x e c u t i v e V i c e P r e s i d e n t a n d T r e a s u r e r ;
H a r ry F. H a r p e r , R ic h a r d H . S c o t t , J a m e s W . W il f o r d , V i c e P r e s i d e n t s ; H a r r y D .
B e n n e t t , V i c e P r e s i d e n t a n d S e c r e t a r y ; A l l a n R. B l a c k , V i c e P r e s i d e n t a n d C o u n s e l ;
H ow ar d M ic k e l s o n , V ic e P r e s i d e n t a n d A s s i s t a n t T r e a s u r e r ; W il l ia m A. R u b le ,
A ssista n t

S e c reta ry.

D ir e c t o r s .— Geo. P. Anderson, Alva M. Cummins, W alter S. Foster, Harry F. Harper,

Christian Herrmann, Nathan P. Hull, Vern V. Moulton, Drury L. Porter, Henry A.
Reniger, J. Gottlieb Reutter, J. Edward Roe, Richard H. Scott, Edmund C. Shields,
George E. Smith, Frank H. Thoman, James W. W ilford.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans __________________
$155,908.78
5,653.15
Advances to trusts --------------------------------Accounts receivable _____________________
1,124.38
United States Government obligations,
direct and guaranteed _______________
28,500.00
Other bonds, stocks, andsecurities---------119,693.50
Cash, and balances with designated de­
positaries—fiduciary funds ------------------- 338,116.07
Cash, and balances with other deposi­
taries—company funds ------ -—-------------59,226.93
Furniture and fixtures --------------------------3,352.72
Real estate owned other than banking
house ________________________________
38,907.37
Other assets ___________________________
11,025.12

Fiduciary funds ------------------------------------- $338,116.07
Special or valuation reserves -----------------25,685.46
Other liabilities ------------------------------------433.98
Capital account:
Common stock _________ s ------------------200,000.00
158,000.00
Surplus ______________________________
Undivided profits _____________________
33,779.03
Reserve for contingencies ------------------5,493.48

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$761,508.02

Total _______________________________

$761,508.02

STATE BANKS OF MICHIGAN

149

THE INDUSTRIAL BANK, LANSING.
Organized April 8, 1926.
A r t h u r D. B a k e r , P r e s i d e n t ; F r a n k E. B a k e r , E x . V i c e P r e s . ; F r a n k A. S t o r t e ,
J a m e s I. V a n K e u r e n , V i c e P r e s i d e n t s ; L y l e C. G r e e n m a n , S e c r e t a r y - T r e a s u r e r .
D ir e c t o r s .— Arthur D. Baker, Frank E. Baker, Eugene T. Hammond, Frank A. Stolte,

James I. VanKeuren, Ernest I. Dail, Earl W. Goodnow, Bruce E. Anderson, B. L.
Hewett, George Arbaugh.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $585,462.84
United States Government obligations,
direct and guaranteed ________________
500.00
Other bonds, stocks, and securities_____
11,250.35
Furniture and fixtures _________________
2,836.11
Real estate owned other than banking
house ------------------------------------------;____
2,800.00
Cash, balances with other banks, and
cash items in process of collection____
149,697.11
Other assets ___________________________
1,456.37

Time deposits of individuals, partnerships,
and corporations _____________________ $498,296.78
Other liabilities ________________________
30,617.75
Capital account:
Common stock _______________________
125,000.00
Surplus ______________________________
77,000.00
Undivided profits _____________ ;______
18,088.25
Reserve for contingencies ____________
5,000.00

Total ------------------------------------------------ $754,002.78

Total ------------------------------------------------ $754,002.78

No. 271.
LAPEER SAVINGS BANK OF LAPEER, MICHIGAN.
Organized September 16, 1902.
T. G. C a l e y ,

W. J. A b b o t t , C h a r l e s A. S t ie r , V i c e P r e s i d e n t s ; O m ar E.
P o t t e r , C a s h i e r ; W. W. B e c k m a n , A s s i s t a n t C a s h ie r .

P r e sid e n t;

D ir e c t o r s .— W. J. Abbott, H

L. Baird, M atthias Caley, T. G. Caley, Charles A. Stier,
C. L. Vosburgh, H. B. Zemmer.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $280,010.12
Overdrafts _____________________________
25.90
United States Government obligations,
17,923.50
direct and guaranteed ________________
Other bonds, stocks, and securities_____
104,050.00
Banking house _________________________
24,000.00
Furniture and fixtures _________________
1,444.91
Reserve with Federal Reserve Bank_____
48,323.82
Cash, balances with other banks, and
cash items in process of collection____
46,170.21
Other assets ------------------------6,338.72

Demand deposits of individuals, partner­
$114,282.65
ships, and corporations ___________
Time deposits of individuals, partnerships,
and corporations ____
288,475.14
State, county, and municipal deposits___
51,751.91
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,059.81
Other liabilities ______________
6,133.85

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$528,287.18

Capital account:

Common s to c k ________________________
Undivided profits _____________________

60,750.00
1,833.82

Total ------------------------------------------------ $528,287.18

STATE BANKING DEPARTMENT

150

No. 545.
THE HOME STATE B A N K OF LAWRENCE, LAWRENCE.
Organized March 7, 1914.
R e x K. J e n n in g s , P r e s i d e n t ; H. R. P h i l l i p s , V i c e P r e s i d e n t ; H o m e r S h o o p , C a s h i e r ;
L eo J. H ie r e in , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— W alter E. Shoop, H. R. Phillips, Rex K. Jennings, Frank J. Warner, Frank C.

Thompson, Homer Shoop.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts
_____________ ___ $155,301.87
6.67
Overdrafts ---United States Government obligations,
direct and guaranteed _______________
79,402.21
Other bonds, stocks, and securities ____
27,939.55
Banking house _______________ ____,.____
2,850.00
Furniture and fixtures ____
225.00
Reserve with Federal Reserve B ank_____
40,401.70
Cash, balances with other banks, and
30,446.58
cash items in process of collection ___

Demand deposits of individuals, partner­
ships, and corporations_______________ $117,364.55
Time deposits of individuals, partnerships,
and corporations --------156,449.21
29,568.91
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,948.02
Capital account:
Common stock -----------------------------------25,000.00
Surplus ______________________________
3,000.00
2,242.89
Undivided profits _____________________

Total _______________ ________________

Total _______________________________

$336,573.58

$336,573.58

No. 8.
THE PEOPLES BANK, LESLIE.
Organized December 24, 1886.
A r t h u r J. T u t t l e , P r e s i d e n t ; E. T. B l a c k m o r e , R u m s e y M. H a y n e s , V i c e P r e s i d e n t s ;
A. L. D o w l in g , C a s h i e r ; H. G. H a m il t o n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Arthur .T. Tuttle, A.

L. Dowling, Grace Tuttle Annis, E. T. Blackmore,
Rumsey M. Haynes.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $186,725.59
Overdrafts ___
89.53
United States Government obligations,
direct and guaranteed ___________
38,275.00
2,118.75
Banking house __ - ____________________
Cash, balances with other banks, and
cash items in process of collection____
89,386.72
Cash items not in process of collection _
343.57

Demand deposits of individuals, partner­
$134,701.57
ships, and corporations __________
Time deposits of individuals, partnerships,
and corporations ___________________
103,719.81
State, county, and municipal deposits__
40,392.11
United States Government and postal
savings deposits ______________________
728.46
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
148.24
Capital account:
Common s to c k ___________________
25,000.00
Surplus ______________________________
7,500.00
Undivided profits ------------------------------4,748.97

Total __________ 1___________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$316,939.16

Total _______________________________

$316,939.16

STATE BANKS OF MICHIGAN

151

No. 621.
THE STATE BANK OF LEVERING, LEVERING.
Organized October 28, 1918.
W. L. B u r n s ,

P r e s id e n t;

C. W. R eed , H e n r y H oar ,

V ic e

P r e sid e n ts;

L. G. C o r n e il ,

C a sh ier.

D ir e c t o r s .— C. W. Reed, R. D. Walker, Henry Hoar, W. L. Burns, E. R. Burns.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________ __________
$48,226.74
Overdrafts _____________________________________ 3.45
United States Government obligations,
direct and guaranteed________________
10,000.00
Banking house ___________________
3,900.00
Furniture and fixtures _________________
1,800.00
Cash, balances with other banks, and
cash items in process of collection____
17,272.76

Total ______________ ________________

$81,202.95

Demand deposits of individuals, partner­
ships, and corporations____ __________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus _________________
Undivided profits _____________________

$23,777.54
22,682.88
10,000.00
452.15
20,000.00
4,000.00
290.38

Total _______________________________

$81,202.95

No. 705.
THE STATE SAVINGS BANK OF LINCOLN PARK, MICHIGAN.
Organized October 8, 1923.
E l m e r Q u a n d t , C h a ir m a n o f t h e B o a r d ; J o h n G o l d s , P r e s i d e n t ; A l f r e d P il o n , V i c e
P r e s i d e n t ; A. A. B ru der , C a s h i e r ; G eorge A. T h o m a s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Elmer Quandt, John Golds, Frances James, A lfred Pilon, H orrace H.

Mallinson, Norman S. James, A. A. Bruder.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $373,315.22
Overdrafts _____________________________
95.98
United States Government obligations,
direct and guaranteed________________
153,654.08
Other bonds, stocks, and securities____
57,372.08
Banking house ____________
15,000.00
Furniture and fixtures__________________
4,004.16
Cash, balances with other banks, and
cash items in process of collection____
189,518.24
Other assets ______________ :_____________
1,642.13

Demand deposits of individuals, partner­
ships, and corporations _______________ $209,021.20
Time deposits of individuals, partnerships,
and corporations _____________________
439,541.83
State, county, and municipal deposits___
57,379.20
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
8,044.53
Other liabilities ________________________
1,967.25
Capital account:
First preferred stock _________________
23,300.00
Common stock _________________
25,000.00
S u r p lu s ______________________________
26,200.00
Undivided profits _____________________
4,118.92
Preferred stock retirement fund_______
28.96

Total _______________ _______________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$794,601.89

Total _______________________________

$794,601.89

STATE BANKING DEPARTMENT

152

No. 533.
THE STATE BANK OF LINWOOD, LINWOOD.
Organized January 9, 1913.
W m . B. H e n r y , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d j H e n r y B. L i n t s , V i c e P r e s i d e n t ;
J. A . O u il l e t t e , V i c e P r e s i d e n t a n d C a s h i e r ; A u g u st J. P rovo , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Henry B. Lints, J. C. Hirschfield, Wm. B. Henry,

Chas. L. Hess, J . A.
Ouillette, C. A. Bachman, A. J. Provo, C. C. Rutledge.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $120,828.52
United States Government obligations,
direct and guaranteed------------------------48,350.00
Other bonds, stocks, andsecurities---------8,875.00
1,500.00
Banking house _________________________
Furniture and fixtures__________________
400.00
Cash, balances with other banks, and
cash items in process of collection_____
100,857.83

Total ________________________ :______

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________ ._______
Surplus ______________________________
Undivided profits --------------------------------Reserve for contingencies_____________

$280,811.35

Total _______________________________

$39,636.30
160,525.32
39,762.45
1,322.42
25,000.00
10,000.00
3,564.86
1,000.00
$280,811.35

NO. 408.
LITCHFIELD STATE SAVINGS BANK, LITCHFIELD.
Organized August 3, 1908.
F r a n k S a c k e t t , P r e s i d e n t ; F. A. G ordon , V i c e P r e s i d e n t ; R. L. F og el . C a s h ie r .
D ir e c t o r s .— Fay Elser, F. A. Gordon, J. W. Lambright, Frank Sackett, John VanWert,

C. E. W olfinger.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $110,906.15
United States Government obligations,
direct and guaranteed -----------------------36,800.00
Other bonds, stocks, and securities-------69,931.35
Banking house _________________________
2,800.00
Furniture and fixtures --------------------------1,700.00
Cash, balances with other banks, and
cash items in process of collection------33,702.01

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$255,839.51

Demand deposits of individuals, partner­
ships, and corporations_______
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock _______________________
Surplus ______________________________
Undivided p r o fits ---------- ----------------------Total

$61,286.53
133,361.40
28,104.30
1,992.86
25,000.00
5,500.00
594.42
$255,839.51

STATE BANKS OF MICHIGAN

153

No. 360.
STATE SAYINGS BANK, LOWELL.
Organized January 29, 1907.
R-

V a n D y k e , P r e s i d e n t ; C. H. R u n c im a n , 1 s t V i c e P r e s i d e n t ; L ee E. L a m p k i n , 2 n d V i c e
P r e s i d e n t ; H a r r y D a y , C a s h i e r ; D. A . W in g e ie r , A s s i s t a n t C a s h i e r .

D ir e c t o r s .— Wm. T. Condon, Harry Day, H. J. Englehardt, John P. Freeman, L. E.

Lampkin, E. D. McQueen, P. C. Peckham, C. H. Runciman, H. L. Weekes, R. VanDyke.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $301,465.46
Overdrafts _____________________________
100.91
United States Government obligations,
direct and guaranteed________________
214,500.00
Other bonds, stocks, and securities_____
90,189.38
Banking house ______________________
1,600.00
Furniture and fixtures_______________
5,450.00
124,043.80
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
95,296.36

Demand deposits of individuals, partner­
ships, and corporations ______________ $185,591.92
Time deposits of individuals, partnerships,
and corporations__ ___________________ 428,260.33
101,690.11
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
10,500.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
26,607.65
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
50,000.00
Surplus ______________________________
25,000.00
Undivided profits _____________________
4,995.90

Total ------------------------------------------------ $832,645.91

Total _______________________________

$832,645.91

No. 239.
LUDINGTON STATE BANK, LUDINGTON.
Organized May 11, 1901.
J o s e p h S a h l m a r k , P r e s i d e n t ; A . W . C h u r c h , V i c e P r e s i d e n t ; O r m a l C. Z o ok , C a s h i e r ;
E. A. M il l e r , A s s i s t a n t C a s h i e r ; G. L. D odd, A u d i t o r .
D ir e c t o r s .-— Joseph

Sahlmark, Ormal C. Zook, O. A. Starke, John Pehrson, E. R.
Hermann, H. F. Washatka, A. W. Church, A. E. Rasmussen, E. A. Miller, M. B.
Danaher.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $255,682.30
Overdrafts --------------------------------------------56.55
United States Government obligations,
direct and guaranteed ________________
246,545.08
Other bonds, stocks, andsecurities_______ 443,841.43
Banking house _________________________
35,000.00
Furniture and fixtures _________________
5,813.67
Cash, balances with other banks, and
cash items in process of collection_____ 296,739.36

Demand deposits of individuals, partner­
ships, and corporations _______________ $385,163.94
Time deposits of individuals, partnerships,
and corporations _____________________
697,929.83
State, county, and municipal deposits___
103,370.82
Capital account:
Common stock _______________________
70,700.00
Surplus ______________________________
16,500.00
Undivided profits ____________________
10,013.80

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,283,678.39

Total

$1,283,678.39

STATE BANKING DEPARTMENT

154

No. 759.

LUTHER STATE BANK, LUTHER.
Organized May 13, 1929.
C. W. M c P h a il ,

P r e sid e n t;

R. J. S m i t h , C h a i r m a n o f
R. J. B ra dford , C a s h ie r .

th e

B oard

and

V ic e

P r e sid e n t;

D ir e c t o r s — C. W. M cPhail, R. J. Bradford, George Cutler, Bari Fairbanks, H. J. Hollister,

R. J. Smith.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $165,645.39
Overdrafts _____________________________
7-38
United States Government obligations,
direct and guaranteed ------------------------55,000.00
10,850.56
Other bonds, stocks, andsecurities---------Banking house _____________
7,600.00
Furniture and fixtures _________________
2,100.00
Real estate owned other than banking
house ________________________________
1,801.25
Cash, balances with other banks, and
cash items in process of collection-------33,273.55

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations --------------------------------State, county, and municipal deposits----Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ------Capital account:
First preferred stock --------------------------Common stock -----------------------------------Surplus ______________________________
Undivided profits ------------------------------Preferred stock retirement fund --------Total _______________________________

$276,278.13

$28,000.79
177,612.63
23,059.88
3,451.68
17,500.00
20,000.00
5,000.00
1,053.15
600.00
$276,278.13

No. 130.
THE ANTRIM COUNTY STATE SAYINGS BANK, MANCELONA.
Organized December 28, 1891.
W m . J. B r o w e r , P r e s i d e n t ; B . L. J. M i l l s , E x e c u t i v e V i c e P r e s i d e n t ; C. B. N eu land ,
C a s h i e r ; W. A. N e e so n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Wm. .T. Brower, B. L. J. Mills, W. A. Gardner, W. A. Neeson, Ethel S. White,

W illis J. W ickett, W allace W. W eatter.

Statement December 31. 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________
United States Government obligations,
direct and guaranteed ----------------------- 1Other bonds, stocks, and securities_____
Banking house _______________________ —
Furniture and fixtures --------Real estate owned other than banking
house _______________________________ _
Cash, balances with other banks, and
cash items in process of collection____

$70,193.32

Total _______________________________

$355,438.85


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

88,194.22
103,605.51
7,000.00
2,000.00
257.71
84,188.09

Demand deposits of individuals, partner­
ships, and corporations--------- -----------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common s to c k _____________________ —
Undivided p ro fits ____ _— ------------------Total _______________________________

$59,631.45
178,674.41
90,079.67
957.63
25,000.00
1,095.69
$355,438.85

STATE BANKS OF MICHIGAN

155

No. 242.
PEOPLES BANK, MANCHESTER.
Organized August 8, 1901.
H ir a m

P a r r , P r e s i d e n t ; P. A. S c h b ü r e r , C h a r l e s E. W a l t z , V i c e P r e s i d e n t s ;
L e h m a n , C a s h i e r ; L. P. W u r s t e r , A s s i s t a n t C a s h ie r .

F. A.

D ir e c t o r s .— L.

W hitney Watkins, P. A. Scheurer, Hiram Parr, F. A. Lehman, Wm.
Haeussler, G. W. Kramer, Charles E. W altz, W alter Luckhardt, Carl F. W uerthner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
$73,716.63
United States Government obligations,
direct and guaranteed __________________
98,456.54
Other bonds, stocks, and securities_____
85,964.81
Banking house ____
5,000.00
2,000.00
Furniture and fixtures __________
Reserve with Federal Reserve Bank____
33,833.55
Cash, balances with other banks, and
cash items in process of collection____
29,029.09

Demand deposits of individuals, partnerships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Capital account:
Common s to c k ________________________
Surplus ______________
Undivided profits _________

Total ------------------------------------------------ $328,000.62

$65,819.52
210,637.25
14,216.30
25,000.00
5,000.00
7,327.55

Total ------------------------------------------------ $328,000.62

No. 172.

UNION SAYINGS BANK OF MANCHESTER, MANCHESTER.
Organized June 23, 1894.
E d . E. R oot , P r e s i d e n t ; M. P. A l b e r , 1 s t V i c e P r e s i d e n t ; E ben F . H o r n in g , S e c o n d V i c e
P r e s . ; B. C. R oot , C a s h i e r ; L. A . M a r x , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Ed. E. Root, H. A. Horning, M. P. Alber. Wm. J. Schlicht, Theo. J. Kuhl,

E. F. Horning, Raynor B. Haeussler, James C. Hendley, Frank H. Tirb.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $158,384.06
Overdrafts ___________________________
63.66
United States Government obligations,
direct and guaranteed______ .'_________
98,325.00
Other bonds, stocks, and securities_____
402,493.98
Banking house ___________L_____________
11,000.00
Furniture and fixtures _________________
1,700.00
Real estate owned other than banking
house
__________ :_________ ;_________
8,827.51
Reserve with Federal Reserve Bank_____
51,587.00
Cash, balances with other banks, and
cash items in process of collection_____
35,932.10

Total ----------- v----------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$768,313.31

Demand deposits of individuals, partner­
ships, and corporations _____________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Second preferred stock _______ _______
Common stock _______________________
Surplus --------- .-----------------------------------Undivided profits _____________________
Preferred stock retirement fund_______

$83,927.71
571,217.62
13,858.11
5,143.60
35,000.00
10,000.00'
25,000.00
15,000.00
4,166.27
5,000.00

Total ------------------------------------------------ $768,313.31

STATE BANKING DEPARTMENT

156

No. 116.

THE MANISTEE COUNTY SAYINGS BANK, MANISTEE.
Organized December 31, 1890.
F r a n k C. B a r n e s , C h a ir m a n o f t h e B o a r d .
W. J. G re go ry , P r e s i d e n t ; F r a n k C. B a r n e s , V ic e P r e s i d e n t ; O. F. L u n d b o m , C a s h i e r ;
C. E. F o y , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— W. J. Gregory, B. D. Noud, J. H. Rademaker, O. F. Lundbom, Frank C.

Barnes, Max E. Neal, E. C. Hardy.

Statement December 31, 1938.
ASSETS

LIABILITIES

Demand deposits of individuals, partnerLoans and discounts_____________________ $693,754.43
ships, and corporations______________ $720,821.69
Overdrafts __________________________ _—
391.25
Time deposits of individuals, partnerships,
United States Government obligations,
and corporations _____________________ 3,175,640.93
direct and guaranteed________________ 2,409,867.62
State, county, and municipal deposits------- 305,916.02
Other bonds, stocks, andsecurities----------------------------- 689,005.80
Deposits
of other banks, certified and
Banking house _________________________
50,000.00
cashier’ s checks, cash letters of credit
Real estate owned other than banking
and
travelers’
checks outstanding-------20,423.27
house ______ ,______ -------------- --------------13,234.80
Capital account:
Reserve with Federal Reserve Bank-------- 379,976.36
First
preferred
stock
--------------------------58,000.00
Cash, balances with other banks, and
Second preferred stock -----------------------50,000.00
cash items in process of collection------- 434,616.92
100,000.00
Common stock _______________________
Surplus _________ .____________________
100,000.00
Undivided profits --------------------------------89,221.66
50,761.11
Reserve for contingencies--------------------Preferred stock retirement fund-----------62.50
Total _______________________________ $4.670,847.18

Total _______________________________ $4,670,847.18

No. 595.

THE STATE SAYINGS BANK OF MANISTIQUE, MANISTIQUE.
Organized May 7, 1917.
W m . J. S h in a r , P r e s i d e n t ; G o t t f r id S. J o h n s o n , V i c e P r e s i d e n t ; H. K. B u n d y , C a s h i e r ;
L eonard M a l e s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Wm. J. Shinar, G ottfrid S. Johnson, August Carlson, Frank Hartman, G. H .

Burrell, Adolph Sandberg.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $270,091.00
United States Government obligations,
direct and guaranteed ------------------------175,476.57
Other bonds, stocks, andsecurities-------—
133,650.09
Furniture and fixtures --------------------------2,000.00
Real estate owned other than banking
house _____
1,420.71
Cash, balances with other banks, and
cash items in process of collection-------169,171.94

Demand deposits of individuals, partner­
ships, and corporations------------------------ $162,252.06
Time deposits of individuals, partnerships,
and corporations _____________________
381,730.73
State, county, and municipal deposits----- 100,529.25
United States Government and postal
savings deposits ----------:----------------------20,711.31
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
.
and travelers’ checks outstanding-------4,569.04
Capital account:
First preferred stock --------------------------49,000.00
Common stock _______________________
25,000.00
Undivided profits --------------------------------1,017.92
Reserve for contingencies ------------------5,000.00
Preferred stock retirement fund----------2,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$751,810.31

Total _______________________________

$751,810.31

STATE BANKS OF M ICHIGAN

157

, No. 296.
THE MANTON STATE BANK, MANTON.
Organized July 27, 1904.
L lo yd P h e l p s , P r e s i d e n t ; G eo . H. B a y e s , V i c e P r e s i d e n t ; I. F a y H o r to n , C a s h i e r ; C.
H o w a r d H orton , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— I. Fay H orton, Jno. A . Muche, George H. Bayes, C. Howard H orton, Lloyd

Phelps, Homer VanDeVanter, Clayton Harrison.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________ ________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house ____________
Furniture and fixtures __________ ;__ ____
Cash, balances with other banks, and
cash items in process of collection—___

$58,158.04
102.18
30,800.00
36,964.10
2,500.00
500.00
42,661.17

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________

Total ------------------------------------------------ $171,685.49

$32,854.38
83,078.57
17,842.54
12,900.00
10.00
25,000.00

Total ------------------------------------------------ $171,685.49

No. 198.
G. W. JONES EXCHANGE BANK, MARCELLUS.
Organized June 26, 1897.
D o n n a V . S c h u r t z , P r e s i d e n t ; H a r l e y A . C a u l , V i c e P r e s i d e n t ; C a r r o l l B. J o n e s ,
C a s h i e r ; N e l l ie R e m in g t o n , C. I. L u t in , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— Donna V. Schurtz, Harley A . Caul, Carroll B. Jones, Bessie E . Jones, Vera

Jones Smith.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_________________
$410,247.03
Overdrafts _____________________________
114.38
United States Government obligations,
direct and guaranteed ________________
11,881.00
Other bonds, stocks, and securities_____
61,509.18
Banking house _________________________
8,500.00
Real estate owned other than banking
house -------------------------------------------------46,568.49
Reserve with Federal Reserve Bank_____
327,800.59
Cash, balances with other banks, and
cash items in process of collection____
129,292.98
Other assets ____________________________
500.00

Demand deposits of individuals, partner­
ships, and corporations ______________ $148,624.98
Time deposits of individuals, partnerships,
and corporations _____________________
720,502.55
State, county, and municipal deposits___
31,621.58
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
13,358.01
Capital account:
40,000.00
Common stock _______________________
Surplus -------------------------------------------40,000.00
Undivided profits _____________________
2,306.53

Total ------------------------------------------------ $996,413.65


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ------------------------------------------------

$996,413.65

STATE BANKING DEPARTM ENT

158

No. 122.
THE M ARINE SAVINGS BANK, MARINE CITY.
Organized August 21, 1891.
H a l e P. S a p h , P r e s i d e n t ; F. W. B e c k e r , V i c e P r e s i d e n t ; J u l iu s N. B a t e s , C a s h i e r ;
H e r m a n F a n s l o w , J r ., A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Hale P. Saph, T. E. DcGurse, F. W. Becker, Julius N. Bates, F. H. Holmes,

M. F. Zimmerman, H. Payne Saph, Louis R. Miller.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $191,522.73
Overdrafts _____________________________
.67
United States Government obligations,
direct and guaranteed _______________
260,130.64
Other bonds, stocks, and securities____
319,939.70
20,000.00
Banking house _________________________
Cash, balances with other banks, and
cash items in process of collection____
231,626.21

Demand deposits of individuals, partner­
ships, and corporations________________ $112,625.71
Time deposits of individuals, partnerships,
and corporations ____________________ 690,930.96
State, county, andmunicipal deposits------- 107,502.36
United States Government and postal
6,800.00
savings d ep osits___________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding--------12,428.71
Other liabilities ________________________
2,000.00
Capital account:
50,000.00
First preferred stock _________________
Second preferred stock _______________
8,000.00
Common stock _______________________
25,000.00
5,799.66
Undivided p ro fits _____________________
Reserve for contingencies ____________
1,219.55
Preferred stock retirement fund_______
913.00

Total _______________________________ $1,023,219.95

Total _______________________________ $1,023,219.95

No. 346.
THE M ARION STATE BANK, MARION.
Organized July 25, 1906.
R. A. L e w i s ,

P r e s id e n t ;

F. D. E l l i o t t ,

V ic e

P r e s id e n t ;

D. E. D a v is o n ,

C a sh ier.

D ir e c t o r s .— D. E. Davison, F. D. E lliott, A. C. E lliott, M. L. Lewis, R. A. Lewis.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts--------------------------------United States Government obligations,
direct and guaranteed ------------------------Other bonds, stocks, and securities-------Banking house _____________ -,---------------Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection--------

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$67,866.89
121,550.00
41,787.25
5,400.00
422.00
48,372.02

$285,398.16

Demand deposits of individuals, partner­
ships, and corporations___ 1___________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common s to c k ___________ ;------------------Surplus ______________________________
Undivided profits ________________
Reserve for contingencies_____________
Preferred stock retirement fund_______
Total _______________________________

$62,690.80
144,020.34
30,622.80
83.87
661.34
14,200.00
20,000.00
7,000.00
1,119.01
1,000.00
4,000.00
$285,398.16

STATE BANKS OF MICHIGAN

159

No. 137.
THE COMMERCIAL SAVINGS BANK OF M ARSHALL, M ICHIGAN.
Organized February 2, 1892.
W. T. P h e l p s ,

C h a s . L. D ib b l e , V i c e P r e s i d e n t ; E. F. W eb er , C a s h i e r ; C. L.
M il l e r , A s s i s t a n t C a s h i e r ; C lar e W e l c h , A u d i t o r .

P r e s id e n t;

D ir e c t o r s .— W. T, Phelps, F. G. Seaman, Chas. L. Dibble, M. M. Perrett, F. D. Schafer,

C. C. Smith, F. S. Deuel, T. J. Swartwout, J. H. Cronin.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $300,775.06
Overdrafts ----------------------------- ._________
546.38
United States Government obligations,
direct and guaranteed_____________
15,100.00
Other bonds, stocks, andsecurities_______ 217,373.46
Banking house --------------------------------------24,000.00
Real estate owned other than banking
house -------------------------------------------------12,266.40
Reserve with Federal Reserve Bank_____ 1,223,628.51
Cash, balances with other banks, and
cash items in process of collection
51,743.09
Cash items not in process of collection,.
30.00

Demand deposits of individuals, partner­
ships, and corporations _______________ $253,621.41
Time deposits of individuals, partnerships,
and corporations ________
1,306,442.58
State, county, and municipal deposits___
63,422.09
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
9,254.62
Other liabilities _____________________ ___
7.17
Capital account:
Common stock -----------------------------------100,000.00
Surplus ----------------------------------------------36,500.00
Undivided profits _____________________
76,215.03

Total -------------- -------------------------------- $1,845,462.90

Total ------------------------------------------------ $1,845,462.90

No. 22.
TH E FARM ERS BANK

OF MASON, MASON.

Organized June 7, 1886.
L.

H. H a r r is o n ,

P r e s id e n t

L. R. W

and

o f t h e B o a r d ; J. E. T a y l o r , V i c e P r e s i d e n t ;
F. W . H a r k n e s s , A s s i s t a n t C a s h ie r .

C h a ir m a n

h it e , C a s h i e r ;

D ir e c t o r s .— L. B. M cArthur, A. J. Hall, L. T. Lasenby, J. E. Taylor, L. H. Harrison,

Mac Vaughn, N. N. Rouse, J. B. Dean, Reno R. Root.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_________ ___________ $361,345.74
Overdrafts _____________________________
77.30
United States Government obligations,
direct and guaranteed________________
136,565.02
Other bonds, stocks, and securities____
196,606.35
Banking house --------------------------------------6,000.00
Furniture and fixtures _________________
2,500.00
Real estate owned other than banking
house ------------------2,712.80
Reserve with Federal Reserve Bank_____
139,134.08
Cash, balances with other banks, and
cash items in process of collection_____ 124,245.83
Cash items not in process of collection,.
515.04
Other assets __________________________
1,000.00

Demand deposits of individuals, partner­
ships, and corporations_______________ $267,707.21
Time deposits of individuals, partnerships,
and corporations _____________________
564,227.14
State, county, and municipal deposits___
36,738.09
United States Government and postal
savings deposits ______________________
7,689.35
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,033.91
Capital account:
Common stock _______________________
50,000.00
Surplus ------------------23,000.00
Undivided p ro fits _____________________
16,306.46

Total ------------------------------------------------ $970,702.16

Total ------------------------------------------------ $970,702.16


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

160

No. 708.
THE PEOPLES STATE BAN K O F M AYBEE, M ICHIGAN.
Organized August 25, 1923.
H e r m a n W. H a r p s t , P r e s i d e n t ; D a n ie l H a s l e y , W m . L. J e n n in g s , V i c e P r e s i d e n t s ;
N o r m a n J e n n in g s , C a s h i e r ; R u s s e l l R e is e r , A s s i s t a n t C a s h i e r ; G rover J. H o c h radel, A u d ito r .

D ir e c t o r s .— Herman W. Harpst, C. E. Hochradel, Bernard J. Lidel, W illiam J. Herbst,

Wm. L. Jennings, Albert W. Elka, Daniel Hasley, Norman Jennings.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $193,645.31
United States Government obligations,
direct and guaranteed — -------------------22,485.00
Other bonds, stocks, andsecurities---------24,311.58
Banking house --------------------------------------3,000.00
1,400.00
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection-------23,114.03

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations----------------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock ------------------Undivided profits _____________________
Total _______________________________

$267,955.92

$51,264.45
160,753.14
19,502.59
10,338.35
25,000.00
1,097.39
$267,955.92

No. 569.
TH E M AYVILLE STATE BANK, M AYVILLE.
Organized September 1, 1915.
M a u r ic e C. E v e l a n d , P r e s i d e n t ; H . L. E v e la n d , W. E . H u n t , V i c e P r e s i d e n t s ; E. J.
K it c h e n , C a s h i e r .
D ir e c t o r s .— Maurice C. Eveland, H. L. Eveland,

W. E. Hunt, Edgar D. Cartwright,

E. J. Kitchen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $297,712.84
Overdrafts _____________________________
100.38
United States Government obligations,
direct and guaranteed —--------------------35,488.32
Other bonds, stocks, and securities— ___
18,931.01
Banking house --------------------------------------6,000.00
Furniture and fixtures --------------------------2,001.00
Real estate owned other than banking
house ________________________________
8,800.00
Cash, balances with other banks, and
cash items in process of collection------- 314,907.75
Other assets ___________________________
3,972.57

Demand deposits of individuals, partner­
ships, and corporations______ t------------- $152,823.15
Time deposits of individuals, partnerships,
and corporations _____________________
432,664.37
State, county, and municipal deposits------36,168.35
Capital account:
First Preferred stock _________________
29,850.00
Common stock -----------------------------------25,000.00
Surplus ______________________________
6,150.00
Undivided profits _____________________
3,408.00
Preferred stock retirement fund-----------1,850.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$687,913.87

Total _______________________________

$687,913.87

161

STATE BANKS OF MICHIGAN
No. 503.
THE M cBAIN STATE BANK, McBAIN.
Organized May 1, 1912.
S. P. M i n ie r ,

P r e sid e n t;

O reand C. S c o t t , V i c e P r e s i d e n t ; C. W. S c i i e i h i n g , C a s h i e r .

D ir e c t o r s — J. H. Taylor, C. D. Stocker, L. Kleinhesselink, Henry Hamming, S. P. Minier,

Orland C. Scott.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________
Overdrafts ______________________________
United States Government obligations,
direct and guaranteed------------------------Other bonds, stocks,and securities----------Banking house _________________________
Furnitlire and fixtures ------------------------.—
Cash, balances with other banks, and
cash items in process of collection------,
Other assets ___________________________

Total _______________________________

$41,792.91
2.30
11,117.00
42,692.50
2,500.00
500.00
25,792.20
349.40

$124,746.31

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding ----Capital account:
Common stock ------Undivided profits -----------------Reserve for contingencies_____________
Total _______________________________

$30,801.06
54,513.19
18,583.55
342.21
206.24
20,000.00
257.72
42.34
$124,746.31

No. 168.
F IR S T STATE BANK OF MENDON, M ICHIGAN.
Branch in Athens, Michigan.
Organized January 9, 1894.
F r a n k W o l f , P r e s i d e n t ; E. L. E s t e s , V i c e P r e s i d e n t ; C h a s . H . R ogge , E x e c u t i v e V i c e
P r e s , a n d C a s h i e r ; F lo ren ce D a n l e y , A s s i s t a n t C a s h i e r ; M a r j o r ie L . H o l c o m b ,
B ra n ch M an ager.

D ir e c t o r s .— Frank W olf, E. L. Estes, Chas. H. Rogge, J. M. Estes, H. E. Custard, Frank

E. Estes, C. N. W ood.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities-------Banking house _________________________
Furniture and fixtures________________ Cash, balances with other banks, and
cash items in processof collection---------

$98,490.34
62.65

Total _______________________________

$506,864.92


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

240,343.76
61,608.13
8,400.00
2,100.00
95,860.04

Demand deposits of individuals, partner­
ships, and corporations________ _______ $113,882.67
Time deposits of individuals, partnerships,
and corporations _____________________
298,211.04
State, county, and municipal deposits----29,438.97
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------565.50
Capital account:
Common stock _______________________
40,000.00
Surplus ______________________________
5,000.00
Undivided profits ------------------------------19,766.74
Total _____________________ _____ ____

$506,864.92

162

STATE BANKING DEPARTM EN T
No. 324.
TH E COMMERCIAL BANK OF MENOMINEE, MENOMINEE.
Organized May 27, 1905.
One Branch.

H ow ard

E. N adea u ,

C a s h i e r ; L o u is K r e u z , V i c e P r e s i d e n t ;
B er ge n , A x e l C h r is t o p h e r s e n , A s s i s t a n t C a s h i e r s .
P r e s id e n t

and

G uy

M.

D ir e c t o r s .— F. X. St. Peter, John H. Riley, Chas. G. Janson, Howard E. Nadeau, Louis

Kreuz.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ------------------------------ $506,965.95
Overdrafts ----------------------------------------------522.60
United States Government obligations,
direct and guaranteed _____________ ;__
133,434.38
Other bonds, stocks, and securities_____
198|839.41
Banking house --------------------------------------43,882.00
5,250.18
Furniture and fixtures ______
Real estate owned other than banking
house -------------------------------------------------9,557.89
Reserve with Federal Reserve Bank_____
218,913.09
Cash, balances with other banks, and
423,196.37
cash items in process of collection____

Demand deposits of individuals, partner­
ships, and corporations_______________ $337,522.81
Time deposits of individuals, partnerships,
924,085.56
and corporations -----------------------------State, county, and municipal deposits___
98,582.11
United States Government and postal
savings deposits ______________________
2,476.26
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
28,976.91
and travelers’ checks outstanding_____
Capital account:
Second preferred stock _______________
15,000.00
Common stock ------------------------------------ 100,000.00
Surplus ----------------------------------------------25,000.00
Undivided profits _____________________
8,918.22

Total

$1,540,561.87

Total

$1,540,561.87

No. 647.
THE FAR M E RS AND MERCHANTS STATE BANK OF M ERR ILL, M ERR ILL.
Organized March 1, 1920.
C a r l W. L a n s h a w , P r e s i d e n t ; H e n r y C. M ead , E x e c u t i v e V i c e P r e s i d e n t a n d C a s h i e r ;
D w i g h t C o l l is o n , V i c e P r e s i d e n t ; J o s e p h S. D o n n o v a n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Dwight Collison, Thos. D. Johnson, C. W . Lanshaw, Henry C. M ead, John

M.

R. Schaeffer.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $140,179.21
United States Government obligations,
direct and guaranteed________________
40,978.66
Other bonds, stocks, and securities_____
45’s83.43
Banking house _________________________
2,500.00
Furniture and fixtures _________________
300.00
Cash, balances with other banks, and
cash items in process of collection____
72,225.54
Other assets _______________________ ____
2 344 79

Demand deposits of individuals, partner­
ships, and corporations _______________ $109,067.42
Time deposits of individuals, partnerships,
and corporations _____________________
132,765.79
State, county, and municipal deposits___
25,886.13
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
9,348.12
Capital account:
Common stock -----------------------------------25,000.00
Undivided profits _____________________
2,091.79
Reserve for contingencies_____________
252.38

Total

------------------------------------------ -—


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$304,411.63

Total

------------------------------------------ -—

$304,411.63

STATE BANKS OF MICHIGAN
No. 423.
M ETAM ORA STATE SAVINGS BANK, M ETAMORA.
Organized January 27, 1909.
A . P. St o c k e r , P r e s i d e n t ; J o h n P. R o b e r t so n , V i c e P r e s i d e n t ; F red T . D o n n e r , C a s h i e r ;
L y l e A l l e n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Henry Bartenfelder, John P. Robertson, George A. Rossman, A. P. Stocker,

Jane P. Youngs, Ellery A. Laidlaw, Emma A. Ober.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts___________________ — $146,513.30
Overdrafts ______ .________________ _____
235.50
United States Government obligations,
direct and guaranteed________________
54,456.33
Other bonds, stocks, and securities_____
41,031.28
Banking house _________________________
4,900.00
Furniture and fixtures _________________
450.00
Cash, balances with other banks, and
cash items in process of collection____
61,296.10

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations ------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Total _______________________________

$308,882.51

$57,593.82
187,697.15
28,325.75
435.69
25,000.00
5,000.00
4,830.10
$308,882.51

No. 274.
FARM ERS STATE BANK OF M ID D LEV ILLE, M ICHIGAN.
Organized April 21, 1903.
W m . K r o n e w it t e r , P r e s i d e n t ; W il l i a m G a c k l e r , A r t h u r H. B e l l , V i c e P r e s i d e n t s ;
E a r l J. L ee , C a s h i e r ; B urdet B e n a w a y , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Wm. K ronewitter, Arthur H. Bell, W illiam Gackler, Arthur C. Thede, Charles

Robertson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $145,732.35
United States Government obligations,
direct and guaranteed________________
60,800.00
Other bonds, stocks, andsecurities_______ 111,724.18
Banking house _________________________
3,100.00
Furniture and fixtures _________________
1,700.00
Cash, balances with other banks, and
cash items in process of collection_____
66,036.18

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$389,092.71

Demand deposits of individuals, partner­
ships, and corporations __________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common s to c k ________________________
Undivided profits _____________________
Reserve for contingencies ____________
Preferred stock retirement fund_______
Total _______________________________

$73,812.33
204,664.26
49,213.59
567.23
25,000.00
33,200.00
1,550.09
51.81
1,033.40
$389,092.71

164

STATE BANKING D EPARTM ENT

No. 591.
THE CHEM ICAL STATE

SAYINGS BANK, M IDLAND.

Organized September 20, 1916.
C. H. M a c o m b e r ,

J a m e s T. P a r de e , V i c e P r e s i d e n t ; P a u l D. B y w a t e r ,
H. L. D u r b in , G u y R o ge r s , A s s i s t a n t C a s h ie r s .

P r e s id e n t ;

C a sh ier;

D ir e c t o r s .— C. H. Macomber, E. W. Bennett, Thos. Griswold, Jr., James T. Pardee, L. A.

Chichester, G. A. Currie, E. O. Barstow.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,420,378.58
Demand deposits of individuals, partner­
Overdrafts _______
208.98
ships, and corporations _______________ $1,626,130.32
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed _______________ 1,233,375.00
and corporations _____________________ 1,885,695.39
Other bonds, stocks, and securities_________________ 190,849.83
State, county, and municipal deposits_______________ 607,381.02
Banking house ___
15,600.00
Deposits of other banks, certified and
Furniture and fixtures _________________
10,526.56
cashier’ s checks, cash letters of credit
Reserve with Federal Reserve Bank_____ 1,140,308.87
and travelers’ checks outstanding_________________ 45,320.11
Cash, balances with other banks, and
Capital account:
cash items in process of collection________________ 529,259.77
Common stoek _________
200,000.00
Other assets ___________________________
19.25
Surplus ----------------------------------------------50,000.00
Undivided profits ____________________
126,000.00
Total ---------------------------------------- ------- $4,540,526.84

Total

$4,540,526.84

No. 469.
PEOPLES STATE BANK OF MILAN, MILAN.
Organized November 17, 1910.
J e s s e B u t t o n , C h a ir m a n o f t h e B o a r d ; G r a n t L. L a s k e y , P r e s i d e n t ; J o h n D. L a w s o n ,
V i c e P r e s . ; G erald H . A l l e n , C a s h ie r .
D ir e c t o r s .— Grant L. Laskey, Charles W. Steidle, Jesse Button, W illiam R. Moore, John

D.

Lawson, S. P. Campbell, N. S. Auten.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $288,338.04
Overdrafts _____________________________
121.92
United States Government obligations,
direct and guaranteed________________
90,727.50
Other bonds, stocks, and securities_____
72,581.34
Banking house ________
10,000.00
Furniture and fixtures __________________
2,000.00
Reserve with Federal Reserve Bank_____
32,661.28
Cash, balances with other banks, and
cash items in process of collection____
113,929.37
Cash items not in process of collection ^
3,480.98

Demand deposits of individuals, partner­
ships, and corporations ______________ $157,874.69
Time deposits of individuals, partnerships,
338,719.92
and corporations ________________
State, county, and municipal deposits___
33,063.84
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,508.41
Capital account:
Common stock _______________________
50,000.00
Surplus ----------------------------------------------11,500.00
Undivided profits ____________________
8,630.94
Reserve for contingencies __________
3,542.63

Total ------------------------------------------------ $613,840.43

Total ------------------------------------------------ $613,840.43


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

165

STATE BANKS OF M ICHIGAN

No. 795.
TH E OAKLAND COUNTY STATE BANK, M ILFORD.
Organized July 20, 1935.
T h o m a s F. L i t t l e , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; F r a n k H. B oos , V i c e P r e s ­
i d e n t ; O ran C. T h o m a s , C a s h ie r .
D ir e c t o r s .— T. F. Little, F. H. Boos, H. M. Smith, J. E. Vallance, Oran C. Thomas.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $193,087.11
United States Government obligations,
direct and guaranteed ________________
83,670.02
Other bonds, stocks, and securities ____
163,972.48
Banking h o u s e ________________________
6,650.00
Furniture and fixtures _________________
2,259.58
51,109.07
Reserve with Federal Reserve Bank _____
Cash, balances with other banks, and
cash items in process of collection_____
110,550.82

Demand deposits of individuals, partner­
ships, and corporations_______________ $179,502.21
Time deposits of individuals, partnerships,
and corporations ________________
266,517.90
State, county, and municipal deposits
90,432.97
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
4,251.08
and travelers’ checks outstanding------Other liabilities ________________________
1,000.00
Capital account:
First preferred stock _________________
25,000.00
Common stock _______________________
25,000.00
10,000.00
Surplus ______________________________
Undivided p ro fits --------------------------------4,401.00
Reserve for contingencies --------5,193.92

Total _______________________________

Total _______________________________

$611,299.08

$611,299.08

No. 413.
THE STATE SAVINGS BANK OF MINDEN CITY, MINDEN CITY.
Organized December 1, 1908.
A lb e r t S e a m a n , P r e s i d e n t ; J o h n P. M cCoy , V i c e P r e s i d e n t ;
B e a t r ic e G e ig e r , A s s i s t a n t C a s h i e r .

M. J. E n n e s t ,

C a sh ier;

D ir e c t o r s .— Albert Seaman, John P. McCoy, J. W. Zinger, V. M. Geiger, J. W. Smith.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $117,910.64
Overdrafts _____________________________
20.98
United States Government obligations,
direct and guaranteed_______ ___
31,700.00
Other bonds, stocks, and securities-----102,062.50
Banking house _________________________
1,200.00
Furniture and fixtures _________________ •
1,000.00
Cash, balances with other banks, and
cash items in process of collection-----78,334.34
Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$332,228.46

Demand deposits of individuals, partner­
ships, and corporations --------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----Capital account:
Common stock -----------------------------------Surplus ______________________________
Undivided profits --------------------------------Total _______________________________

$71,632.99
184,628.90
29,512.88
30,000.00
9,500.00
6,953.69
$332,228.46

166

STATE BANKING DEPARTM EN T
No. 363.
THE K EW EE N AW SAYINGS BANK, M OHAWK.
Organized January 31, 1907.

W. T. K in g ,

P r e sid e n t;

R. L. B l ig h t ,

V ic e

P r e s id e n t;

A. C.

A L e ssn e r ,

C a sh ie r ;

C. F.

M organ , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— W. T. King, W. H. Thielman, O. Sibilsky, R. L. Blight, A. C. Messner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts________ ____________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Cash, balances with other banks, and
cash items in process of collection____
Other a s s e t s ____ ____ ^___________ _____

$42,061.36
109,843.75
25,320.00
184,005.18
500.00

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ________ ,____________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ----------------------------------------------Undivided profits _____________________

Total ------------------------------------------------ $361,730.29

$66,961.85
148,759.34
113,452.77
130.78
239.96
20,000.00
9,000.00
3,185.59

Total ------------------------------------------------ $361,730.29

No. 633.
THE MOLINE STATE BANK, MOLINE.
Organized May 8, 1919.
J acob H a v e m a n , P r e s i d e n t ; A l b e r t N. G ie t z e n , V i c e P r e s i d e n t ; J oe H a v e m a n , C a s h i e r ;
J acob H a v e m a n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— D . G. Thaler, Joe Haveman, Albert N. Gietzen, Jacob Haveman, James C.

Halloran.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $103,737.19
United States Government obligations,
direct and guaranteed ________________
10,387.50
Other bonds, stocks, and securities_____
8,800.00
Furniture and fixtures _________________
500.00
Cash, balances with other banks, and
cash items in process of collection____
37,859.58

Total

----------------------------------------------- $161,284.27


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Dividends u n p a id _______________________
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ___________ 1________
Total

----------------------------------------------

$26,802.14
72,302.08
27,353.49
384.00
25,000.00
5,000.00
4,442.56
$161,284.27

167

STATE BANKS OF MICHIGAN
No. 318.
DANSARD STATE BANK, MONROE.
Organized August 21, 1905.

B o ye z D a n sa r d , P r e s i d e n t ; I. A. N e w c o m e r , O. L. M ead , C h a s . L. W ood, V i c e P r e s i d e n t s ;
V . B. M o rto n , C a s h i e r ; R oy J. L ie d e l , J o s . P. F o r b e s , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— Boyez Dansard, I. A. Newcomer, O. L. Mead, Wm. E. Sturn, John Weisel,

Chas. L. W ood, O. Vorbeck, Wm. D. LaPointe, H arold F. Nadeau.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $475,630.70
Overdrafts _____________________________
.38
United States Government obligations,
528,514.67
direct and guaranteed________________
Other bonds, stocks, and securities_____
310,125.02
Banking house — .---------------------------------66,200.00
4,000.00
Furniture and fixtures _________________
Reserve with Federal Reserve Bank_____
105,493.94
Cash, balances with other banks, and
cash items in process of collection------- 225,668.27

Demand deposits of individuals, partner­
ships, and corporations________
$303,577.83
Time deposits of individuals, partnerships,
and corporations --------879,284.71
State, county, and municipal deposits----262,019.12
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------51,499.42
Dividends declared but not yet payable.,
875.00
Capital account:
50,000.00
First preferred stock _______ .— — -----Common stock -------- ---------------------------163,200.00
Undivided p ro fits ---------2,981.14
Preferred stock retirement fund-----------2,195.76

Total _______________________________ $1,715,632.98

Total _______________________________ $1,715,632.98

I

No. 321.
THE MONROE STATE SAVINGS BANK, MONROE.
Organized July 5, 1965.
L. W. N e w c o m e r , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; W. H. R i e c k s , V i c e P r e s i d e n t ;
J. D. C o o k , E x e c u t i v e V i c e P r e s i d e n t ; R. C. M e ie r , C a s h i e r ; A. C. M a r t e n , F reid J.
F is c h e r , A s s i s t a n t C a s h i e r s ; V in c e n t A. C c t m o r e , T r u s t O fficer.
D ir e c t o r s .— D. W. Newcomer, H. A. Consor, Ed. F. Cousino, J. R. Denniston, Don B.

Leathers, H. C. McPike, W. H. Riecks, J. D. Cook, Paul Geigenmueller.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------- $878,021.73
Overdrafts ______________________________
55.16
United States Government obligations,
direct and guaranteed ------------------------570,410.31
Other bonds, stocks, andsecurities --------- 1,017.943.24
Banking h ou se ---------------------------------------50,000.00
Furniture and fixtures---------------------------3,284.70
Cash, balances with other banks, and
cash items in process of collection_____
920,831.88
Other assets ____________________________
913.48

Demand deposits of individuals, partner­
ships, and corporations ----------------------- $1,074,688.88
Time deposits of individuals, partner­
ships, and corporations _______________ 1,507,540.39
536,781.07
State, county, and municipal deposits —
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
31,667.42
and traveler’s checks outstanding------33,041.94
Other liabilities ________________________
Capital account:
50,000.00
First preferred stock ------------------------- 200,000.00
Common stock -----------------------------------7,740.80
Reserve for contingencies -------------------

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$3,441,460.50

Total

$3,441,460.50

168

STATE BANKING D EPARTM ENT
No. 491.
TH E FARM ERS STATE BANK OF MONTAGUE, M ICHIGAN.
Organized October 20, 1911.

R.

H.

J o h n V a n d e r w e r p , C h a ir m a n o f t h e B o a r d .
F o h l b r o o k , P r e s i d e n t ; A x e l C. J o h n s o n , V i c e P r e s i d e n t ;
C a s h i e r ; W. P. W e n t w o r t h , A s s i s t a n t C a s h ie r .

D ir e c t o r s .-— John

A dolph

Vanderwerp, R. H. Fohlbrook, Axel C. Johnson,
Adolph Anderson, Francis Dahl.

H.

A n d e r so n ,

F.

Newman,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house --------------------------------------Furniture and fixtures__________________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
Other assets ------------------------------------------Total ---------------------- -------------------------

$97,135.98
’ 28.21
24,000.00
119,955.67
3,500.00
1,000.00
16,363.19
40,750.07
3,910.08

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals,, partnerships,
and corporations _______________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock __________
Surplus ----------------------------------------------Undivided profits _____________________

$306,643.26

Total ------------------------------------------------

$99,255.25
149,718.57
24,062.48
2,916.96
25,000.00
5,000.00
690.00
$306,643.26

No. 515.
THE MONTROSE STATE BANK, MONTROSE.
Organized June 28, 1912,
M oody S. R u s s e l l , F i r s t V i c e P r e s i d e n t ; G eo . D. M a c k e n z i e ,
S e c o n d V i c e P r e s i d e n t ; E. W. S w a in , C a s h i e r ; M. J. S c h i l u n g e r , A s s i s t a n t C a s h ie r .

A . B. W ood , P r e s i d e n t ;

A . B. W ood, Moody S. Russell, Geo. D. MacKenzie, George L. Bower, Leon
R. Wickham, A. H. Stevens, C. R. Hovey, E. J. Furstenberg, E. W. Swain.

D ir e c t o r s .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and d iscou n ts__ ________________ $184,289.93
Overdrafts ______________________________
16.49
United States Government obligations,
direct and guaranteed ________________
22,788.00
Other bonds, stocks, andsecurities______
88,816.47
Banking h o u s e ------- -------------------------------3,750.00
Furniture and fixtures________ __________
1.495.00
Cash, balances with other banks, and
cash items in process of collection_____
50,236.71
Other assets ___________________________
1.00

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partner­
ships, and corporations _______________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Other liabilities ________________ _________
Capital account:
First preferred stock _________________
Common s to c k ________________________
Undivided profits _____________________
Reserve for contingencies _______
Preferred stock retirement f u n d ______

Total -------------- --------------------------------- $351,393.60

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$47,241.74
198,857.07
54,686.57
820.77
1,950.00
20,000.00
20,000.00
4,778.05
2,309.40
750.00
$351,393.60

STATE BANKS OF M ICHIGAN

169

No. 746.
THE F IR S T STATE SAYINGS BANK OF MORENCI, MORENCI, M ICHIGAN.
Organized July 22, 1927.
A.

C. M o in e ,

P r e sid e n t;

A. A. T h o m p s o n ,

V ic e

P r e s id e n t;

A. A. W e b s t e r ,

C a sh ie r ;

B e r n ic e S id e r s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— A. C. Moine, C. R. Kellogg, A. A. Thompson, W. M. Cornelius, Jr., C. S.

Smith, C. H. Awkerman, Clyde J. Avis.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts___________
$338,447.39
Overdrafts ________________________
17.11
United States Government obligations,
direct and guaranteed_________
159,580.43
Other bonds, stocks, and securities__ _
140,210.96
Banking house _________________________
11,042.00
Furniture and fixtures ___________
1,772.00
Cash, balances with other banks, and
cash items in process of collection __
148,165.35
Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partner­
ships, and corporations _______________
State, county, and municipal d eposits__
Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits ____________________
Total ________________ ______________

$799,235.24

$235,142.61
399,136.38
76,831.07
50,000.00
14,000.00
24,125.18
$799,235.24

No. 551.
THE M ORLEY STATE BANK, MORLEY.
Organized June 20, 1914.
J o h n E. B e r g e l in , P r e s i d e n t ;
C a sh ie r j

W m . F. T u r n e r , V i c e P r e s i d e n t ; K e n n e t h W . T u r n e r ,
A n ne T o s h a l i s , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— John E. Bergelin, Earl Berean, Meta Latimer, Claude H. Keith, Alfred Olsen,

Lewis S. Turner, Wm. F. Turner.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts _____ _____________ _$
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

73,595.38
13,250.00
25,309.75
4,750.00
950.00
17,797.24

$135,652.37

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partner­
ships, and corporations__________ - ___
State, county, and municipaldeposits —
United States Government and postal sav­
ings deposits _________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Common stock _______________________
Surplus _______________________________
Undivided p ro fits _____________________
Total ___________ ___________________

$20,114.95
48,176.81
28,248.27
213.93
6,366.82
25,000.00
6,000.00
1,531.59
$135,652.37

170

STATE BANKING DEPARTM EN T
No. 763.
TH E M ORRICE STATE BANK, M ORRICE.
Organized September 12, 1929.

L u c e in e S c r ib n e r , P r e s i d e n t ; E d w a r d D i p p y , V i c e P r e s i d e n t ; H a r ry E. D a v is , C a s h i e r ;
W. L. R a d t k e , A u d i t o r .
D ir e c t o r s .— W. L. Radtke, Edward Dippy, Luceine Scribner, Harry E. Davis, W. E. Davis.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, andsecurities______
Banking house _________________________
Furniture and fixtures _________________
Real estate owned other than banking
house ________________________________
Cash, balances with other banks, and
cash items in process ofcollection______
Other assets ____________________________ ,

Total ________________ _______________

$87,688.91
21,625.00
8,916.50
1,500.00
1,512.46
2,948.69
25,128.05
1,119.21

$150,438.82

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partner­
ships, and corporations _______________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Dividends declared but not yet payable_
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Preferred stock retirement fund_______
Total _______________________________

$37,668.38
66,744.13
14,405.89
120.62
300.00
15,000.00
10,000.00
5,000.00
199.80
1,000.00
$150,438.82

MACOMB COUNTY TR U ST COMPANY, MT. CLEMENS.
Organized May 13, 1929.
M acy E.

W a t k i n s , P r e s i d e n t ; H e n r y O. C h a p o t o n , H a r r y
C la r e n c e F. B a r c k , S e c r e t a r y .

D ie h l , V ic e

P r e s id e n ts ;

D ir e c t o r s .— Henry O. Chapoton, H arry J. Diehl, Macy E . W atkins, Louis W. Pingel,
Fred J. Cromie, Henry J. Bohn, W illiam T. Kelly, Spencer J. Dalby, H arry S. Donaldson,

Ralph Donaldson, David Rouleau, Roland Nank, Howard Fenton.

Statement December 31, 1938.
ASSETS
Loans ______
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, andsecurities______
Cash, and balances with designated de­
positaries—fiduciary funds ____________
Cash, and balances with other deposi­
taries—company fu n d s ________________
Furniture and fixtures _________________
Real estate owned other than banking
h o u se _________________________________
Other assets____ ,_______________________
Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$46,203.99
65,625.94
30,087.57

Fiduciary funds ________________________
Other liabilities ________________________
Capital account:
Common stock _______________________
Undivided profits _____________________

$22,808.00
6,420.00
150,000.00
5,889.95

22,808.00
3,028.96
1,680.00
14,917.91
765.58
$185,117.95

Total

$185,117.95

STATE BANKS OF MICHIGAN

171

No. 51.
THE MOUNT CLEMENS SAVINGS BANK, MT. CLEMENS.
Organized May 30, 1877.
H e n ry

O.

C h a p o t o n , P r e s i d e n t ; W il l i a m E. K o e h l e r , V i c e P r e s i d e n t ; G eorge
H odson , C a s h i e r ; H udson E. R ood , J acob H. U l l r i c h , A s s i s t a n t C a s h ie r s .

A.

D ir e c t o r s .— Henry O. Chapoton, Joseph Cody, Harry S. Donaldson, W illiam E. Koehler,

Fred W. Krauseneck, Henry W. Miller, Ralph H. Donaldson, Lawrence F. Schott,
George A. Hodson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $698,170.49
Overdrafts ______________________________
265.43
United States Government obligations,
direct and guaranteed _____
151,139.59
Other bonds, stocks, and securities_____
659,429.97
160,000.00
Banking h ou se_s____________________ 1___
Furniture and fixtures__________________
15,880.00
Reserve with Federal Reserve Bank_____
183,130.42
Cash, balances with other banks, and
cash items in process of collection____
695,172.69
Other assets____________________________
5,193.69

Demand deposits of individuals, partner­
ships, and corporations ______________ $386,619.57
Time deposits of individuals, partner­
ships, and corporations_______ _______ 1,534,086.52
State, county, and municipal deposits___
267,837.95
United States Government and postal sav­
ings deposits _________________________
70,639.59
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
43,661.76
11,641.02
Other liabilities ________
Capital account:
Common stock _______________________
250,000.00
Undivided profits _____________________
3,895.87

Total ____________ __________________ $2,568,382.28

Total ------------------------------------------------$2,568,382.28

No. 170.
EXCHANGE SAVINGS BANK, MT. PLEASANT.
Organized March 5, 1894.
E. O. H a r r is ,

P r e s id e n t;

C. S. L a r ze l e r e , A. J. T i l m a n n , V i c e P r e s i d e n t s ; C. W. R ic h e s ,
E. S. B r a s in g t o n , W. S. H o rn , A s s i s t a n t C a s h i e r s .

V ic e P r e s i d e n t a n d C a s h i e r ;

D ir e c t o r s .— W. E. Lewis, E. O. Harris, Jas. E. Johnson, A. J. Tilmann, C. S. Larzelere,

C. W. Riches, K. P. Brooks, J. F. McNutt, John Engler, J. P. Kenney.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $414,658.18
Overdrafts ______________________________
11.29
United States Government obligations,
direct and guaranteed____ ____________ 434,364.24
Other bonds, stocks, and securities_____
42,301.91
Banking house _________________________
15,750.00
Furniture and fixtures__________________
4,393.00
Reserve with Federal Reserve B a n k __ 253,016.56
Cash, balances with other banks, and
cash items in process of collection____
119,308.74

Demand deposits of individuals, partner­
ships, and corporations ______________ $474,926.67
Time deposits of individuals, partner­
ships, and corporations________
619,329.40
State, county, and municipal deposits
109,513.17
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
385.53
and travelers’ checks outstanding____
288.50
Other liabilities _____________
Capital account:
Common s to c k _____________
50,000.00
Undivided profits _____________________
29,360.65

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,283,803.92

Total

$1,283,803.92

172

STATE BANKING D EPARTM ENT
No. 277.
ISABE LLA COUNTY STATE BANK, MT. PLEASANT.
Organized June 17, 1903.

E van S. W e id m a n , P r e s i d e n t ; P ete r F. B r e id e n s t e in , V i c e P r e s i d e n t ; J o h n W. B e n fo r d ,
C a s h i e r ; J. E l m e r G r a h a x , K a t h e r in e A . F r a s e r , C. E. B r e id e n s t e in , A s s i s t a n t
C a sh iers.

D ir e c t o r s .— Mildred A. Weidman, Peter F. Breidenstein, John W. Benford, Evan S. W eid­

man, Charles L. Maguire.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $885,104.08
O verdrafts________
251.88
United States Government obligations,
direct and guaranteed ___________
412,885.16
Other bonds, stocks, and securities___ _ 195,624.68
Banking house
- ______________________
35,000.00
Furniture and fixtures_________ ________
6,000.00
Real estate owned other than banking
h o u se _________________________________
42,210.73
323,855.43
Reserve with Federal ReserveB a n k _____
Cash, balances with other banks, and
cash items in process of collection______
677,409.77
Other assets ____________________________
198.34

Demand deposits of individuals, partner­
ships, and corporations _______________ $786,373.17
Time deposits of individuals, partner­
ships, and corporations ______________ 1,461,531.58
State, county, and municipal deposits__
79,019.55
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
67,003.99
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
60,000.00
Common stock _______________________
60,000.00
Surplus _______________________________
60,000.00
Undivided p ro fits ______
4,611.78

Total __________________ 1___________ $2,578,540.07

Total _______________________________ $2,578,540.07

No. 453.
PEOPLES STATE BANK OF MUNISING, MUNISING.
Organized May 7, 1910.
J. A l f r e d B u r n s ,

R ic h a r d W. N e b e l , V i c e P r e s i d e n t ; V er n o n A. F l o r ia ,
C a s h i e r ; S. J. L a C o m b e , A s s i s t a n t C a s h ie r .

P r e s id e n t;

D ir e c t o r s .— J. A lfred Burns, N. J. Niks, Benjamin Hankin, Richard W. Nebel, Vernon

A.

Floria.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ______________
$136,991.77
United States Government obligations,
22,000.00
direct and guaranteed ________________
Other bonds, stocks, and securities____
34,232.80
Banking house __________________■_____
10,000.00
Furniture and fixtures_________________
2,000.00
Cash, balances with other banks, and
cash items in process of collection ___
54,079.24
Other assets__ ________________________ _
1,574.65

Total ______________ _________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$260,878.46

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partner­
ships, and corporations______________
State, county, and municipal deposits___
United States Government and postal sav­
ings deposits _________________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common s to c k ________________________
Surplus _______________________________
Undivided profits _____________________
Total _______________________________

$80,164.06
106,511.88
32,605.19
5,000.00
303.41
25,000.00
10,000.00
1,293.92
$260,878.46

173

STATE BANKS OF MICHIGAN

No. 694.
TH E FARM ERS STATE BANK OF M UNITH, MICHIGAN.
Organized June 14, 1922.
W . E. F l e m in g , P r e s i d e n t ; C h a r l e s P ic k e t t , V i c e P r e s i d e n t ; F red W . F ord , C a s h i e r .
D i r e c t o r s .—

W. E. Fleming, Charles Pickett, P. J. Fleming, John G. Harr, R. II. Reno,
Herbert C. Ready, Vern R. Weeks.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, andsecurities______
Banking house _______________
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection _____

Total _____________ _________________

$83,812.41
2.11
22,550.00
16,434.00
1,900.00

475.tfo
29,068.54

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partner­
ships, and corporations _!______________
State, county, and municipal deposits —
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Other liabilities ________________________
Capital account:
Common stock _______________________
S urplus__ _____________________________
Undivided profits ______________
Reserve for contingencies ____________
Total _______________________________

$154,242.06

$30,518.42
57,979.41
24,634.77
7,757.21
923.58
25,000.00
6,000.00
1,007.07
421.60
$154,242.06

No. 605.
TH E MUSKEGON SAYINGS BANK OF MUSKEGON, M ICHIGAN.
Organized December 14, 1887.

Reorganized December 14, 1917.

P a u l S. M oon , P r e s i d e n t ; F . M. B r e u n in g e r , R ot E . A l b e r t s , V i c e P r e s i d e n t s ; B ar t
D . B u c k , C a s h i e r ; J ac ob M u s c h , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Paul S. Moon, C. N. Sessions, F. M. Breuninger, Roy E . Alberts, B art D.

Buck, Charles W. Dearborn.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $979,290.20
Overdrafts______________________________
16.28
United States Government obligations,
direct and guaranteed _______________
727,123.45
Other bonds, stocks, and securities_____
392,059.67
Banking house _________________________
64,000.00
Furniture and fixtures________ _________
6,500.00
Real estate owned other than banking
house _________________
3,160.05
Cash, balances with other banks, and
cash items in process of collection ___
428,444.17

Demand deposits of individuals, partner­
ships, and corporations_______________ $424,962.69
Time deposits of individuals, partner­
ships, and corporations _______________ 1,814,274.19
State, county, and municipaldeposits------56,996.18
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ____
22,882.68
Dividends declared but not yetpayable-2,500.00
Other liabilities_________________________
5,000.00
Capital account:
First preferred stock _________________
110,000.00
Second preferred stock _______________
25,000.00
Common s to c k ________________________
100,000.00
Surplus _______________________________
15,000.00
Undivided profits _____________________
16,478.08
Reserve for contingencies_____________
7,500.00

Total

_________ ____________________ $2,600,593.82


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______________________________ $2,600,593.82

174

STATE BANKING DEPARTM EN T
MUSKEGON TRU ST COMPANY, MUSKEGON.
Organized August 14, 1920.

H ar old M c B. T h u r s t o n , P r e s i d e n t ; O t t o L. G o d f r e y , V i c e P r e s , a n d T i t l e O ffic e r ;
P a u l R . H u g h e s , V i c e P r e s i d e n t a n d T r u s t O f f i c e r ; C la r e n c e B . A l b e r t s , T r e a s u r e r ;
J o h n H . V a n A ndel , A s s i s t a n t T r e a s u r e r ; J. M a r v in H e r m a n , S e c r e t a r y ; P . H . D u ggan ,
A ss is ta n t S ec reta ry.

D ir e c t o r s .— C la r e n c e E . A l b e r t s . R a y m o n d R . B e a r d s le y , H a r r y E . B r o w n , G. C. C h a d d o c k ,

George E. Coveil, J. G. Emery, Jr., Otto L. Godfrey, Paul R. Hughes, E. A. Larsen,
Adam Pyle, Jr., H arold McB. Thurston.

Statement December 31, 1938.
ASSETS

LIABILITIES

L o a n s-----------------------------------------------------Advances to trusts _____________________
Other bonds, stocks, andsecurities______
Cash, and balances with designated de­
positaries—fiduciary funds ____________
Cash, and balances with other deposi­
taries—company fu n d s ________________
Banking house _________________________
Furniture and fixtures _________________
Real estate owned other than banking
h o u se --------------------------------------------------Other assets______________ _______ _____

$87,514.22
8,991.88
33,342.79
111,665.39
20,048.28
39,000.00
6,000.00

Fiduciary funds ________________________ $111,665.39
15,000.00
Bills payable _____________ :_____________ _
Special or valuationreserves_____________
9,224.07
Other liabilities ______
14,272.83
Capital account:
First preferred stock _________________
11,000.00
Common s to c k ________________________
150,000.00
Surplus __________
25,000.00
Undivided profits ____________________
25,625.48

5,460.72
49,764.49

Total ------------------------------------------------ $361,787.77

Total ------------------------------------------------

$361,787.77

No. 368.
TH E F IR S T STATE BANK, NEWAYGO, M ICHIGAN.
Organized March 17, 1907.
J. B. J oh n , C h a i r m a n o f t h e B o a r d .
M. F. H a t c h , P r e s i d e n t ; W. A. A n sor ge , N. J. C h r is t e n s o n ,
P r e s id e n ts ;

H. R. M oore ,

V ic e

D. L. K e l l e y , C a s h ie r .

D ir e c t o r s .— M. F. Hatch, R. E. Kincaid, N. J. Christenson, W. A. Ansorge, J. B. John,

D.

L. Kelley, H. R. Moore.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________________
$188,969.09
O verdrafts_________ :____________________
28.12
United States Government obligations,
direct and guaranteed
______________
72,781.26
Other bonds, stocks, andsecurities____ _
92,574.50
Banking house _________________________
9,561.37
Furniture and fixtures__________________
5,167.62
Cash, balances with other banks, and
cash items in process of collection ____
158,632.98
Other a ssets____________________________
67.39

Demand deposits of individuals, partner­
ships, and corporations_______________ $110,989.96
Time deposits of individuals, partner­
ships, and corporations _______________
316,512.39
State, county, and municipal deposits___
58,944.71
Capital account:
First preferred s to c k __________________
20,000.00
Common stock _______________________
20,000.00
Undivided profits _____________________
1,335.27

Total ------------------------------------------------ $527,782.33


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ---------------------- ------------------------

$527,782.33

STATE BANKS OF M ICHIGAN

175

No. 690.
CITIZEN S STATE SAYINGS BANK, NEW BALTIM O RE.
Organized March 30, 1922.
J oseph

T.

Su e ss,

P r e s id e n t;
C a sh ier;

W il l i a m E. B o w e r s , V i c e P r e s i d e n t ;
M ig n o n M. R o se , A s s i s t a n t C a s h ie r .

L. W . P in g e l ,

D ir e c t o r s .— Joseph T. Suess, Hugo A. Matthews, W illiam E. Bowers, Joseph S. Habarth,

Kenneth W. Hill, Henry Schwanbeck, Martin Ruemenapp.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $138,313.35
Overdrafts___ __________________________
148.35
United States Government obligations,
direct and guaranteed ________________
81,899.84
Other bonds, stocks, and securities_____
65,757.06
8,500.00
Banking house _________________________
Furniture and fixtures__________________
2,700.00
Reserve with Federal Reserve B a n k ____
85,097.24
Cash, balances with other banks, and
cash items in process of collection____
22,980.47

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partner­
ships, and corporations ______________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common s to c k ________________________
Surplus _______________________________
Undivided profits _____________________

$405,396.31

Total _____________ __________________

$50,179.95
248,180.03
71,491.92
2,596.57
25,000.00
5,000.00
2,947.84
$405,396.31

No. 399.
TH E N E W B E R R Y STATE BANK, N E W BER RY.
Organized May 14, 1908.
F r a n k P. B o h n , P r e s i d e n t ; W. G. F r e t z , V i c e P r e s i d e n t ; A. N e l s o n , C a s h i e r ; H e l e n
F o rbe s, E . E . J a r a n so n , A s s i s t a n t C a s h ie r s .
D i r e c t o r s .— F r a n k P . B o h n , W . G . F r e t z , A . L . S a y le s , M a t t S u r r e ll, C. D . Z a g e lm e ie r ,
John F . W ood, M. B. F r e t z .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $147,044.77
United States Government obligations,
direct and guaranteed________________
210,487.50
Other bonds, stocks, andsecurities______
118,415.50
Banking house _________________________
13,000.00
Furniture and fixtures _________________
1,400.00
Cash, balances with other banks, and
cash items in process of collection _____ 205,483.60

Demand deposits of individuals, partner­
ships, and corporations______________- $229,277.19
Time deposits of individuals, partnerships,
and corporations _____________________
205,163.46
State, county, and municipal d eposits__
176,643.54
United States Government and postal sav­
ings deposits _____
1,670.74
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
1,004.64
Capital account:
First preferred stock ________________„
30,000.00
Second preferred stock _______________
15,000.00
Common s to c k ________________________
20,000.00
Undivided profits _____________________
12,503.05
Reserve for contingencies_____________
4,568.75

Total _______________ _______________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$695,831.37

Total _______________________________

$695,831.37

176

STATE BANKING D EPARTM ENT
No. 585.
THE PEOPLES STATE BANK, NEW BOSTON.
Organized June 21, 1916.

F. J. G r a n d f ie l d , M. D., P r e s i d e n t
P r e s i d e n t j F r a n k H. C l a r k ,

and

C h a ir m a n

C a sh ier;

W

m.

o f th e B o a r d ;

W. A,m e r m a n ,

J o h n C. W il s o n , V i c e
A ssista n t

C a s h ie r .

D ir e c t o r s .— F . J. Grandfield, M. D., Frank H. Clark, John C. Wilson, N ick Eldred, C. H .

Reiser.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____ _______________
$75,757.38
United States Government obligations,
59,262.88
direct and guaranteed __________________
Other bonds, stocks, and securities_____
98,727.00
Banking house and furniture and fixtures
5,000.00
Cash, balances with other banks, and cash
items in process of collection___________
83,606.15

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations______ :____ _________
State, county, and municipaldeposits____
Dividends declared but not yet payable__
Capital account:
Common s to c k ________________________
Surplus ______________________________
Undivided profits _____________________

Total ------------------------------------------------ $322,353.41

Total _______________________________

$51,061.62
196,049.66
38,692.13
750.00
25,000.00
10,000.00
800.00
$322,353.41

No. 245.
NEW HAVEN SAVINGS BANK, NEW HAVEN.
Organized August 28, 1901.
D r . J o h n V an D y k e , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; O t t o F ord , V i c e P r e s i d e n t ;
J o h n L. T e s c h , C a s h i e r , J e a n e t t e T e s c h l e r , M a r io n B ade , A s s ’ t C a s h i e r s .
D ir e c t o r s .— Dr. John Van Dyke, W alter W illert, Otto Ford, Fred Kesner, Joseph Strauch,

George Frink, Frank Lemmon.

Statement December 31, 1938.
ASSETS
Loans and discounts ____________________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, and securities_____
Furniture and fixtures_________________ _
Reserve with Federal Reserve B a n k _____
Cash, balances with other banks, and
cash items in process of collection____

LIABILITIES
$62,485.10
100,410.11
72,472.72
375.00
21,124.87
30,967.79

Total ------------------------------------- ------------- $287,835.59


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal d eposits__
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock ________ ;______________
Undivided p ro fits ________
Total ------------------------------------------------

$36,996.76
192,623.68
27,671.35
928.87
25,000.00
4,614.93
$287,835.59

STATE BANKS OF MICHIGAN

177

No. 737.
TH E STATE BANK OF NEW LOTHROP, NEW LOTHROP, MICHIGAN.
Organized April 27, 1927.
W. F . G a l l a g h e r ,

P r e s id e n t;
C a sh ier;

D ir e c t o r s .— W.

F.

A r t h u r J. II a n c h e t t , V i c e P r e s i d e n t ; B ernard K il d e a ,
B e r n ic e L. M oore , A s s i s t a n t C a s h ie r .

Gallagher, E. T. Sidney, A rthur J. Hanchett, Wm.
Wendling, Bernard Kildea.

Streng, Jos.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, andsecurities______
Banking house _________________________
Furniture and fixtures_______________ ____
Cash, balances with other banks, and
cash items in process of collection_____
Other assets__________________ __________

Total ----------------------- :_______________

$77,939.05
62,500.00
154,410.00
4,600.00
2,700.00
93,249.48
5,599.98

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ___________ ,_________
State, county, and municipal d eposits__
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Reserve for contingencies ____________

$400,998.51

Total _______________________________

$32,673.81
302,558.31
17,423.90
5,000.00
19,900.00
20,000.00
1,000.00
1,442.49
1,000.00
$400,998.51

No. 523.
THE NEW PORT STATE BANK, NEW PORT.
Organized December 31, 1912.
L eo B o u d in e t , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; L eo M a r t in , P h i l i p J. Y o a s , V i c e
P r e s i d e n t s ; T h o s . J. B a b b it t , C a s h i e r ; D e L an d M e r c u r e , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Leo Martin, Charles E. Reaume, Leo Boudinet, Jessie Gonyea, Patrick H .

Marron, Philip J. Yoas, John A. Partlen.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $117,108.87
United States Government obligations,
direct and guaranteed ________________
57,704.48
Other bonds, stocks, and securities
___
70,800.69
Banking house _________________________
2,400.00
Furniture and fixtures _____
900.00
Cash, balances with other banks, and
cash items in process of collection____
29,721.43

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$278,635.47

Demand deposits of individuals, partner­
ships, and corporations____ __________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
S urplus_______
Undivided profits _____________________
Reserve for contingencies_____________
Total

$47,797.22
162,961.12
31,311.28
1,604.42
25,000.00
6,000.00
3,599.70
361.73
$278,635.47

178

STATE BANKING DEPARTM EN T
No. 590.
STATE BAN K OF NILES, NILES.
Organized December 2, 1916.

C. C. I I a r r a h ,

P r e s id e n t;

J. W. W ood ,
N.

V i c e P r e s i d e n t ; T h o s . E. C a in , C a s h i e r ; L y n n
Ca i n , A s s i s t a n t C a s h i e r .

D ir e c t o r s .— C. C. Harrah, P. A. H arrington, F. J. W ood, H. C. Kling, Leonard Zick,

Edwin J. Donahue.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and- discounts ___________________ $266,824.27
United States Government obligations,
direct and guaranteed _______________
87,065.80
Other bonds, stocks, and securities_____
313,021.25
Banking house _________________________
28,500.00
Furniture and fixtures__________________
1,342.85
Cash, balances with other banks, and
217,115.74
cash items in process of collection ____

Demand deposits of individuals, partner­
ships, and corporations ______________ $349,935.12
Time deposits of individuals, partnerships,
and corporations______________________
239,712.35
222,630.42
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
7,756.21
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
76,900.00
12,000.00
Surplus_____________
Undivided profits _____________________
4,935.81

Total _______________________________

$913,869.91

Total _______________________________

$913,869.91

No. 36.
PIONEER BANK, NORTH BRANCH.
Organized July 30, 1885.

Reorganized June 29, 1889.

F . C. B a l l a r d , P r e s i d e n t ; J. L. H a r p e r , V i c e P r e s i d e n t ; K . M. B ar bo u r , C a s h i e r .
D ir e c t o r s .— F . C. B a lla rd , K . M. B a rb ou r, Elizabeth M. Deo, Sidney Castle, J. L. Harper.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $102,341.35
United States Government obligations,
direct and guaranteed ________________
78,478.75
Other bonds, stocks, and securities_____
81,376.81
Banking h o u s e __ __________________ ___ .
4,700.00
Reserve with Federal Reserve Bank_____
21,008.15
Cash, balances with other banks, and
cash items in process of collection____
56,672.94

Total ------------------------------------------------ $344,578.00


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Capital account:
Common stock ______________
Undivided profits _____________________
Reserve for contingencies_____________

$54,713.85
193,842.03
34,783.86
456.33
50,000.00
9,400.05
1,381.88

Total ------------------------------------------------ $344,578.00

STATE BANKS OF MICHIGAN

179

No. 367.
DEPO SITO RS STATE BANK, N O RTH VILLE.
Organized March 8, 1907.
J o h n A. B o yc e , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; E. H. L a p h a m , E. S. B eard ,
V i c e P r e s i d e n t s ; A. B u s s e l l C l a r k e , C a s h ie r .
D ir e c t o r s .— E. S. Beard, G. Carmi Benton, E. M. Bogart, John A. Boyce, Alex Christen­
sen, H arry B. Clark, E. H. Lapham, Floyd A. Northrop, L. C. Stewart, R. M. Terrill.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $327,892.96
Overdrafts _____________________________
1.59
United States Government obligations,
348,805.89
direct and guaranteed ________
Other bonds, stocks, and securities_____
133,883.68
Banking house _________________________
30,000.00
Furniture and fixtures ________________
4,000.00
Real estate owned other than banking
house -------------------------------------------------21,149.91
Cash, balances with other banks, and
173,224.26
cash items in process of collection___
Cash items not in processof collection—
579.00

Demand deposits of individuals, partner­
ships, and corporations _______________ $230,196.49
Time deposits of individuals, partnerships,
and corporations ____________________
427,532.33
93,950.94
State, county, andmunicipal deposits____
United States Government and postal
savings deposits ______
2,475.65
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
15,841.85
and travelers’ checksoutstanding______
Other liabilities ________________________
760.87
Capital account:
First preferred stock _____
150,000.00
Second preferred stock _______________
20,000.00
Common stock _______________________
90,000.00
Undivided p ro fits ___________ ‘._________
5,920.14
Reserve for contingencies_____________
2,021.90
837.12
Preferred stock retirement fund_______

Total ------------------------i----------------------- $1,039,537.29

Total _______________________________ $1,039,537.29

NO. 584.
THE OLIVET STATE BANK, OLIVET.
Organized April 18, 1916.
P h i l H . Q u ic k , P r e s i d e n t ; A. H . B u r l e so n , M a t t h e w S h i l t s , H a r r y E . S h i l t s , V i c e
P r e s i d e n t s ; G eorge C. T y so n , C a s h i e r ; I van C. S h e r w o o d , A ss't C a s h i e r .
D ir e c t o r s .— Phil H . Quick, A. H. Burleson, Matthew Shilts, L. .T. Dann, D. G. Cronk, George

C. Tyson, Harry E. Shilts.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, andsecurities_______
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection_____

LIABILITIES
$63,949.32
9.25
29,961.09
54,539.37
7,000.00
2,100.00
34,643.18

Total ------------------------------------------------ $192,202.21


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock ______________
Common stock _______________________
Undivided p ro fits ____________ ________
Reserves _____________________________
Preferred stock retirement fund_______

$37,437.37
86,400.63
26,607.23
2.90
85.55
15,000.00
25,000.00
294.03
624.50
750.00

Total -------------- --------------------------------- $192,202.21

STATE BANKING D EPARTM ENT

180

No. 378.
TH E ONSTED STATE BANK, ONSTED.
Organized September 20, 1907.
G.

W. R o ss,

P r e s id e n t;

W. J. R edfieild ,
A ssista n t

V ic e

P r e s id e n t

and

C a sh ie r ;

E. R. K n a p p ,

C a sh ier.

D ir e c t o r s .— G. W. Ross, W. J. Redfield, B. L. Seager, Ray G. Turner, F. L. Branch,

Seward Shepherd.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $195,644.86
Overdrafts ------------------12.05
United States Government obligations,
direct and guaranteed------------------------81,700.00
9,546.88
Other bonds, stocks, andsecurities______
Banking house --------------------------------------4,000.00
Furniture and fixtures__________________
1,000.00
Real estate owned other than banking
house ________ _________
1,766.45
Reserve with Federal Reserve Bank_____
31,434.79
Cash, balances with other banks, and
cash items in process of collection--------27,120.04
Other assets ____________________________
382.84
Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations _______
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding------Capital account:
Common stock _______________________
Surplus _______________________
Undivided profits --------------------------------Total _______________________________

$352,607.91

$64,419.17
214,698.20
28,125.09
615.16
25,000.00
16,500.00
3,250.29
$352,607.91

No. 484.
TH E CITIZEN S STATE BANK OF ONTONAGON, ONTONAGON.
Organized October 16, 1910.
E d w a r d C a r r o l l , P r e s i d e n t ; F red J o h n s o n , T. H. W il c o x , V i c e P r e s i d e n t s ; W a l t e r
H. L e i s h e r , C a s h i e r ; P e r n e i .l A . E r ic k s o n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Edward

Carroll, W illiam Krohh, Fred Johnson, Thos. H. W ilcox, F. W.
M cHugh, John Schober, Roy L. Muskatt.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $123,931.75
Overdrafts ___________________
5.08
United States
Government obligations,
direct and guaranteed---------- -------------35,182.18
Other bonds, stocks, and securities_____
105,389.20
Banking house
_________-—
15,000.00
Furniture and fixtures ---------------------------4,025.00
Real estate owned other than banking
house ________________________________
5,446.05
Cash, balances
with other banks, and
cash items in process of collection____
88,063.50
1,100.00
Other assets ___________________________ -

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$378,142.76

Demand deposits of individuals, partner­
ships, and corporations-----------------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Undivided profits _____________________
Preferred stock retirement fund_______
Total _______________________________

$89,016.44
166,508.48
56,604.41
10,000.00
1,470.11
23,100.00
25,000.00
4,543.32
1,900.00
$378,142.76

STATE BANKS OF MICHIGAN

181

No. 687.
STATE BANK OF ORTONVILLE, ORTONVILLE.
Organized March 25, 1922.
H ugh G. T a y l o r ,

H. A. P r o f r o c k , V i c e P r e s i d e n t ; W m . N a RRin , C a s h i e r ;
E dna P r o f r o c k , A s s i s t a n t C a s h ie r .

P r e s id e n t;

D ir e c t o r s .— H. A. P rofrock, Hugh G. Taylor, John W altz, LaVern Sweers, Wm. Narrin.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____
Other assets ____________________________

Total _______________________________

$97,354.83
52,637.00
42,068.75
3,000.00
450.00
49,708.22
50.14

Demand deposits of individuals, partner­
ships, and corporations ________________
Time deposits of individuals, partnerships,
and corporations ____________________
State, county, andmunicipal deposits____
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding______
Other liabilities ________________________
Capital account:
Common stock _________
Surplus ____
Undivided profits ____________________ _
Reserve for contingencies_______ :-------Total _______________________________

$245,268.94

$45,206.48
140,133.31
28,532.45
365.56
407.59
25,000.00
2,000.00
3,099.80
523.75
$245,268.94

No. 723.
THE OSCODA STATE SAVINGS BANK, OSCODA.
Organized January 2, 1925.
E. R. M c N ic h o l , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; A lfre d R. W e ir , V i c e P r e s i d e n t ;
H a m il t o n L . M c N ic i io l , C a s h i e r .
D ir e c t o r s .— E. R. McNichol, Alfred R. Weir, Hamilton L. McNichol, R. E. McNichol,

Francis Mattis.

Statement December 31, 1938.
ASSETS
Loans and discounts__________ _________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection____
Other assets_________________________

LIABILITIES
$17,294.95
28,110.41
10,861.74
4,500.00
500.00
69,769.31
931.64

T otal------------------------------------------------- $131,968.05


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _______
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Undivided profits ________________ ,____
Total _______________________________

$50,347.92
46,706.57
14,800.53
318.88
20,000.00
205.85-R
$131,968.05

182

STATE BANKING DEPARTM EN T
No. 365.
THE O TISV ILLE STATE BANK, O TISVILLE.
Organized March 8, 1907.

F re d C. B ar de n , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; L. F . B ir d , V i c e - P r e s i d e n t ;
D w i g h t A r t h u r , C a s h i e r a n d V i c e - P r e s i d e n t ; V ir g in i a R. C r a w f o r d , R o se B o s c h ,
A s s i s t a n t C a sh iers.

D ir e c t o r s .— Fred C. Barden, L. F. Bird, Dwight Arthur, Frank Burgess, M. E. Averill,

Percy Worgess, Harry McCormick.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts __________ _________ ________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures__ ________________
Cash, balances with other banks, and
cash items in process of collection____

$84,836.38
5.51
10,775.00
42,684.79
3,000.00
500.00
37,708.68

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________

Total ---------------------------------- ------------- $179,510.36

$42,663.83
78,380.08
22,526.92
4,535.96
25,000.00
5,000.00
1,403.57

Total ------------------------------------------------ $179,510.36

No. 793.
STATE SAVINGS BANK OF OTSEGO, OTSEGO.
Organized January 24, 1935.
W i l l ia m

D rew ,

P r e sid e n t;
C a sh ie r ;

V ic t o r L. D e r b y , V i c e P r e s i d e n t ; H arold
G u s t a v A p p e l t , J r ., A s s i s t a n t C a s h i e r .

G.

V in c e n t ,

D ir e c t o r s .— Victor L. Derby, W illiam Drew, Gale Dugan, Matthew G. Rogers, Earl H.

Snow, E. W. Stone, Harold G. Vincent.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $276,928.73
Overdrafts ____________________________ _
.30
United States Government obligations,
direct and guaranteed ________________
114,909.93
Other bonds, stocks, and securities____
48,666.70
Banking house _________________________
15,000.00
Furniture and fixtures__________________
1.00
Cash, balances with other banks, and
cash items in process of collection____
102,124.68

Demand deposits of individuals, partner­
ships, and corporations ______________ $161,725.17
Time deposits of individuals, partnerships,
and corporations ____________________
246,481.05
State, county, andmunicipal deposits____
78,932.32
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding____6,205.97
Other liabilities ________________________
3,728.40
Capital account:
Common stock _______________________
44,560.00
Surplus ----------------------------------------------11,140.00
Undivided profits _____________________
558.43
Reserve for contingencies _____________
4,300.00

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$557,631.34

Total ------------------------------------------------ $557,631.34

STATE BANKS OF M ICHIGAN

183

No. 199.
STATE SAVINGS BANK OF OVID, OVID.
Organized September 9, 1897.
John

H. R o b so n , P r e s i d e n t ; H . S. B e a r d si .ee > V i c e P r e s i d e n t a n d C a s h i e r ; W m , J.
H a t h a w a y , F red O l s o n , Vice Presidents; G eo . S. R o bso n , Assistant Cashier.

D ir e c t o r s .— John H. Robson, Wm. J. Hathaway, Lou T. Storrer, B. C. Smith, H. S.

Beardslee, H. P. Snyder, Geo. S. Robson, Fred Olson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $470,317.75
156.63
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
69,000.00
Other bonds, stocks, andsecurities_______
21,152.05
15,000.00
Banking house _________________________
Furniture and fixtures__________________
5,000.00
Real estate owned other than banking
house ________________________________
15,727.25
Cash, balances with other banks, and
cash items in process of collection_____
189,287.59
Other assets____________________________
946.50

Demand deposits of individuals, partner­
ships, and corporations _______________ $147,554.36
Time deposits of individuals, partnerships,
and corporations _____________________
485,598.85
State, county, and municipal deposits___
53,409.82
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
1,884.14
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
50,000.00
Surplus _____________________ ________ ,
34,000.00
Undivided profits _____________________
14,140.60

Total _______________________________

$786,587.77

Total _______________________________

$786,587.77

No. 112.
TH E OWOSSO SAVINGS BANK, OWOSSO.
Organized January 13, 1891.
C a l v in P . B e n t l e y , President and Chairman of the Board; E . N. T h o m e , A . M. H u m e ,
Vice Presidents ; W. S. C ooper , Cashier; G. E . P e r k i n s , J. H. H a h n , C. E . S a a r u p , O.
L . D a v i s , Assistant Cashiers; C. E . S a a r u p , Auditor.
D ir e c t o r s .— Calvin P. Bentley, Arthur M. Hume, E. N. Thome, W. C. Cadwallader, J.

H.

W oodard, John J. McDonald, S. Q. Pulver, H. K. W hite, J. Evens Campbell.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,240.095.73
Demand deposits of individuals, partner­
Overdrafts _____________________________
14.78
ships, and corporations_______________ $749,809.36
Time deposits of individuals, partnerships,
United States Government obligations,
and corporations ____________________ 2,120,047.41
direct and guaranteed________________
399,568.41
Other bonds, stocks, andsecurities__________________ 793,739.55
State, county, andmunicipal deposits____
116,804.75
Deposits of other banks, certified and
Banking house _________________________
37,800.00
Furniture and fixtures ______
14,762.58
cashier’ s checks, cash letters of credit
Real estate owned other than banking
and travelers’ checksoutstanding______
627.85
house ______
47,921.42
Other liabilities ________________________
5,232.35
Cash, balances with other banks, and
Capital account:
cash items in process of collection________________ 786,513.28
First preferred stock _________________
175,000.00
Second preferred stock _______________
99,250.00
Other assets____________________________
3,976.01
Common stock _______________________
1,000.00
Undivided profits _____________________
10,664.98
Reserve for contingencies_____________
42,143.08
Preferred stock retirement fund_______
3,811.98
Total _______________________________ $3,324,391.76


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______________________________ $3,324,391.76

STATE BANKING D EPARTM ENT

184

No. 370.
STATE SAVINGS BANK OF OWOSSO, OWOSSO.
Organized Jane 5, 1900.
J a m e s H . V a n P e l t , P r e s i d e n t ; K e n n e t h F. C r a w f o r d ,, A . J.. G r e e n e , V i c e P r e s i d e n t s j
F r a n k C. F r e e m a n , C a s h i e r ; A r t h u r E l l io t t , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— James

H. VanPelt, J. M. Beck, H arlow B. Ross, A . J. Green, Geo. W.
Campbell, Frank C. Freeman, Kenneth F. Crawford.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-—_____ ,------------------- $353,243.10
Overdrafts _____________________________
54.46
United States Government obligations,
direct and guaranteed _______________
230,900.00
Other bonds, stocks, and securities----210,077.50
Banking house _____ ________ — ------------25,000.00
3,500.00
Furniture and fixtures------------- -------------Cash, balances with other banks, and
cash items in processof collection______ 400,213.52
Other assets____________________________
14,674.51

Demand deposits of individuals, partner­
ships, and corporations _______________ $505,633.06
Time deposits of individuals, partnerships,
and corporations ____________________
561,979.55
State, county, andmunicipaldeposits —
30,081.56
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding--------2,349.97
Other liabilities ------------------------------------37,207.97
Capital account:
75,000.00
Common stock _______________________
Surplus ______________________________
15,000.00
Undivided profits — ____ ______________
4,944.14
5,466.84
Reserve for contingencies_____________

Total _______________________________ $1,237,663.09

Total _______________________________ $1,237,663.09

No. 34.
THE O XFO RD SAVINGS BANK, O XFORD.
Organized June 12, 1884.
R o ber t

Ma r sh a ll,

C h a ir m a n

P r e s id e n t

and

of

B oard
and P r e s id e n t ; F rank L.
L l o yd S. F r e n c h , A s s i s t a n t C a s h i e r .

th e

C a sh ier;

O l iv e ,

V ic e

D ir e c t o r s .— J. H. Patterson, Frank L. Olive, Robert Marshall, M. W. Kessell, J. G.

Sutherland, Ray J. Howland, George B. Tunstead.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $205,217.68
Overdrafts _____________________________
-07
United States Government obligations,
direct and guaranteed ________________
227,882.28
Other bonds, stocks, andsecurities_______ 259,710.55
Banking house ________________________ .15,000.00
Furniture and fixtures__________________
4,000.00
Reserve with Federal Reserve Bank_____
57,443.64
Cash, balances with other banks, and
cash items in process of collection____
203,104.48
Cash items not in process of collection
154.92

Demand deposits of individuals, partner­
ships, and corporations_______________ $222,560.02
Time deposits of individuals, partnerships,
and corporations _______ .______ ______
619,003.36
State, county, and municipal deposits___
50,129.24
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,522.63
Capital account:
Common stock ______ .________________
50,000.00
Surplus ____________________________ _—
15,000.00
Undivided profits _____________________
8,298.37
Reserve for contingencies_____________
5,000.00

Total ______ ________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$972,513.62

Total —-------------------- -----------------------

$972,513.62

STATE BANKS OF MICHIGAN

185

No. 658.
JOHN W. FREE STATE BANK, PA W PAW .
Organized July 23, 1920.
A. L y n n F re e , C h a ir m a n o f t h e B o a r d , P r e s i d e n t a n d C a s h i e r ; C h a r l e s L a k e , V i c e
P r e s i d e n t ; W . F. R ie d l , A s s i s t a n t C a s h i e r ; M. M. S o o t h w o r t h . A u d i t o r .
D ir e c t o r s .— A. Lynn Free, Deyo Thayer, Bert Gleason, Geo. E. Monroe, Charles Lake.

Statement. December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection___
Cash items not in processof collection-.
Other assets____________________________

T o t a l ----- :-----------------------------------------

$89,410.14
23,122.20
45,928.63
11,250.00
1,747.70
261,525.64
137.98
189.49

Demand deposits of individuals, partner­
ships, and corporations ______________ $173,693.51
Time deposits of individuals, partnerships,
and corporations _____________________
174,472.70
State, county, and municipal deposits___
51,128.36
United States Government and postal
820.00
savings deposits ___ 1__________________
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
229.00
Capital account:
28,300.00
Common stock _______________________
Undivided profits ___________________
4,600.00
68.21
Reserve for contingencies_____________

$433,311.78

Total ------------------------------------------------ $433,311.78

No. 478.
PEN TW ATE R STATE BANK, PEN TW ATER.
Organized December 14, 1910.
D. J. H a l s t e a d ,

P r e s id e n t;

W. H. G ar dn er ,

V ic e P r e s id e n t;

C a r l H ir l e m a n , E x e c . V i c e

P r e s i d e n t a n d C a s h ie r .

D ir e c t o r s .— A. E. Gale, W. H. Gardner, D. J. Halstead, C. C. Anderson, Carl Hirleman.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $105,034.35
United States Government obligations,
direct and guaranteed______ __________
11,300.00
Other bonds, stocks, andsecurities____ ._
5,950.00
Banking house _____________
2,900.00
Furniture and fixtures _________________
950.00
Cash, balances with other banks, and
cash items in process of collection_____
51,214.33
Other assets ___________________________
260.94

Total ------------------------------------------------ $177,609.62


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations __________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock ___________ ,_____ :_____
Surplus ______________________________
Undivided profits _____________________

$46,116.61
77,741.70
14,302.26
9,000.00
624.17
25,000.00
2,500.00
2,324.88

Total ------------------------------------------------ $177,609.62

STATE BANKING DEPARTM EN T

186

No. 132.
TH E STATE BANK OF PER RY, PER RY .
Organized January 2, 1892.
S p a l d in g , P r e s i d e n t ; R o m a in e C. B o t sf o r d , M r s . E d it h M. S p a l d in g ,
V i c e P r e s i d e n t s ; M a r s h a l l C. S p a l d in g , C a s h i e r ; H a ze l K r a f t , A s s i s t a n t C a s h i e r ;
L a w r e n c e B. W a t k i n s , Sec. of the Board.

R oland

L.

D ir e c t o r s .— Roland L. Spalding, Romaine C. Botsford, Marshall C. Spalding, Edith M.

Spalding, Lawrence B. Watkins.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $225,535.93
United States Government obligations,
91,828.75
direct and guaranteed ________________
Other bonds, stocks, and securities_____
49,510.25
Banking house --------------------------------------1,850.00
Furniture and fixtures__________________
2,000.00
Real estate owned other than banking
10,576.22
house ________________________________
Cash, balances with other banks, and
cash items in process of collection------47,271.01

Total __________________________ ____

Demand deposits of individuals, partner­
ships, and corporations-----------------------Time deposits of individuals, partnerships,
and corporations --------------------------------State, county, and municipal deposits----Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
First preferred stock --------------------------Common stock -----------------------------------Surplus ________
Undivided p ro fits ---------------------------------

$78,579.45
264,271.23
26,542.37
2,497.63
20,000.00
25,000.00
5,000.00
6,681.48

Total _______________________________

$428,572.16

$428,572.16

No. 463.
TH E H. C. M cLACHLIN & CO. STATE BANK, PETERSBURG.
Organized September 17, 1910.
W il l ia m

A.

S m i t h , P r e s i d e n t ; L a w r e n c e W. W it t m a n , V i c e P r e s i d e n t ;
K o p p e l m a n , C a s h i e r ; E l l a W o e l m e r , A s s i s t a n t C a s h ie r .

C. F.

D ir e c t o r s .— W illiam A. Smith, Alfred O. Elder, C. F . Koppelman, Lawrence W. Wittman,

J. Alster Stuart, C. J. W ittman, Fred T. Consear.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________ __________ $211,629.97
United States Government obligations,
direct and guaranteed------------------------83,833.16
Other bonds, stocks, and securities___ _ 288,078.18
Banking house ________ '________________
20,000.00
Furniture and fixtures --------------------------3,500.00
Cash, balances with other banks, and
cash items in process of collection____
94,899.99
Other assets ___________________________
70.60

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$702,011.90

Demand deposits of individuals, partner­
ships, and corporations -----------------------Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits____
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding-------Other liabilities ----------------------------Capital account:
First preferred stock _________________
Common stock ________________
Surplus ______________________________
Undivided profits --------------------------------Preferred stock retirement fund_______
Total

$68,411.47
467.014.44
52,134.48
6,775.82
2,955.97
36,500.00
40,000.00
23,500.00
1,219.72
3,500.00
$702,011.90

STATE BANKS OF MICHIGAN

187

No. 119.
THE F IR S T STATE BANK OF PETOSKEY, PETOSKEY.
Organized June 19, 1891.
W. G. M c C u n e ,

G i .en C. T o w n s e n d , V i c e P r e s i d e n t ; W a l t e r A. S c h l e c h t e ,
C a r m ic h a e l , G. A. H it c h m o u g h , A s s i s t a n t C a s h i e r s .

P r e sid e n t;

C a sh ier;

G race

D ir e c t o r s .— Lacy H. Sergent, Glen C. Townsend, W. G. McCune, C. L. Hinkley, George

W. John, W alter A. Schlechte, E. A. Bremmeyr, C. E. Garvin, V. J. Kahler.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $625,802.43
Overdrafts _____________________________
5,62
United States Government obligations,
direct and guaranteed ________________
304,671.26
Other bonds, stocks, and securities_____
127,947.50
20,000.00
Banking house ___________
Furniture and fixtures ___
2,500.00
Reserve with Federal Reserve Bank_____
161,966.59
Cash, balances with other banks, and
cash items in process of collection______ 327,212.78

Demand deposits of individuals, partner­
ships, and corporations_______________ $405,808.53
Time deposits of individuals, partnerships,
and corporations _____________________
816,813.43
State, county, and municipal deposits____
145,108.94
United States Government and postal
savings deposits ______________________
30,000.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
30,012.68
Other liabilities ________________________
600.00
Capital account:
25,000.00
First preferred stock _________________
Common stock _______________________
75,000.00
Surplus ----------------------------------------------32,500.00
Undivided profits _____________________
1,219.75
Reserve for contingencies_____________
542.85
7,500.00
Preferred stock retirement fund_______

Total ------------------------------------------------$1,570,106.18

Total ------------------------------------------------ $1,570,106.18

No. 348.
THE PIGEON STATE BANK, PIGEON.
Organized July 2, 1906.
E rn est

Clabuesch,

A lbert K l e in s c h m id t , V ic e P r e s i d e n t ;
C l if t o n B a i l e y , A s s i s t a n t C a s h ie r .

P r e s id e n t;
C a sh ier;

L eo

B l is s ,

D ir e c t o r s .— Herman Buchholz, Ernest Clabuesch, Henry J. Clabuesch, Hugh B. Harder,

Albert Kleinschmidt.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $313,684.95
United States Government obligations,
direct and guaranteed ________________
12,500.00
Other bonds, stocks, and securities_____
21,075.00
Banking house _________________________
2,925.00
Furniture and fixtures ______________ ,__
1,452.00
Reserve with Federal Reserve Bank_____
101,678.76
Cash, balances with other banks, and
cash items in process of collection____
69,896.12
Other assets ___________________________
3,065.46

Demand deposits of individuals, partner­
ships, and corporations _______________ $164,149.26
Time deposits of individuals, partnerships,
and corporations _____________________
250,871.42
State, county, and municipal deposits___
43,664.49
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
4,556.54
Other liabilities ______ :____ ____________
13,349.65
Capital account:
Common stock _______________________
25,000.00
Surplus ______________________________
20,000.00
Undivided p ro fits _____________________
4,685.93

Total ------------------------------------------------ $526,277.29

Total __--------------------------------------------- $526,277.29


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

188

No. 400.
PINCONNING STATE BANK, PINCONNING.
Organized June 3, 1908.
W m . U r b a n , P r e s i d e n t ; J. R. F o t h e r in g h a m , V i c e P r e s i d e n t a n d C a s h i e r ;
T u r m e l l , V ic e P r e s i d e n t ; S. A. R e-s u e r , A s s i s t a n t C a s h ie r .

T homas

D ir e c t o r s .— J. R. Fotheringham, J. B. Harris. J. W. Jankowiak, W alter Kisser, V. B.

Klumpp, S. A. Resmer, J. M. Tremlin, Thomas Turmell, W illiam Urban, J. M. Whyte.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $194,402.22
16,682.50
Other bonds, stocks, andsecurities_______
Banking house _________________________
7,500.00
Furniture and fixtures _________________
500.00
Reserve with Federal Reserve Bank_____
28,878.61
Cash, balances with other banks, and
cash items in process of collection_____
97,401.87

T o t a l ___ 1__________________________

Demand deposits of individuals, partner­
ships, and corporations -------------Time deposits of individuals, partnerships,
and corporations _____ — ----- ------State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ______________________ _
Surplus ______________________________
Undivided profits _____________________
Total _______________________________

$345,365.20

$91,937.47
178,197.69
25,820.80
4,512.26
25,000.00
5,000.00
14,896.98
$345,365.20

No. 282.
CITIZEN S STATE SAVINGS BANK OF PLAIN W ELL, PLAIN W ELL.
Organized October 6, 1903.
E. W.

Stone, P r e s i d e n t ;

F. J. S c o tt , V i c e P r e s i d e n t ; F. C. B u r c h f ie l d ,
R. W. F e n n e r , A s s i s t a n t C a s h ie r .

C a sh ie r ;

D ir e c t o r s .— F. J. Scott, E. R. Aungst, E. W. Stone, F. C. Burchfield, G. L. Honeysett.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------$161,250.52
United States Government- obligations, *
direct and guaranteed ________________
89,824.18
Other bonds, stocks, and securities_____
137,160.26
Banking house _________________________
5,000.00
Furniture and fixtures _________________
1,039.77
Cash, balances with other banks, and
cash items in process of collection____
117,924.87

Demand deposits of individuals, partner­
ships, and corporations _______________ $218,068.93
Time deposits of individuals, partnerships,
and corporations _________
213,963.12
State, county, and municipal deposits___
30,157.62
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
4,720.93
Capital account:
Common stock _______________________
40,000.00
Surplus _______
4,000.00
Undivided p r o fits --------------------------------417.65
Reserve for contingencies_____________
871.35

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$512,199.60

Total _______________________________

$512,199.60

STATE BANKS OF MICHIGAN

189

No. 99.
PLYM OUTH UNITED SAVINGS BANK, PLYMOUTH.
Organized May 13, 1890.
P a u l W. Y o o r h ie s , C h a ir m a n o f t h e B o a r d .
C h a r l e s H .. B e n n e t t , P r e s i d e n t ; E dson O. H u s t o n , V i c e P r e s i d e n t ; R u s s e l l M. D a a n e ,
V i c e P r e s i d e n t a n d C a s h i e r ; L is l e H . A l e x a n d e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Charles H.

Bennett, Otto F. Beyer, Russell M. Daane, F loyd G. Eckles,
Cass S. Hough, Edson O. Husten, Luther Peck, Ernest S. Roe, Paul W. Yoorhies.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $391,235.50
Overdrafts _____________________________
16.56
United States Government obligations,
375,226.57
direct and guaranteed ___________
Other bonds, stocks, and securities_____
235,655.52
40,000.00
Banking house _________________________
Furniture and fixtures___________ ,______
4,404.60
Cash, balances with other banks, and
cash items in process of collection____
249,156.55
Other assets________________________
2,464.21

Demand deposits of individuals, partner­
ships, and corporations _______________ $389,884.42
Time deposits of individuals, partnerships,
and corporations _____________
621,599.61
91,071.69
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
6,011.26
Capital account:
First preferred stock _________________
75,000.00
Common stock _______________________
100,000.00
Undivided profits _____________________
9,083.08
Reserves _____________________________
5,509.45

Total ------------------------------------------------ $1,298,159.51

T o t a l ----------------------------------------- ------ $1,298,159.51

No. 456.
TH E PO M PEII STATE BANK, POM PEII.
Organized May 10, 1910.
B. C. H a l l , P r e s i d e n t ; F r a n k R. H i m e s , V i c e P r e s i d e n t ; G eo . H. N o s , C a s h i e r ; C. F.
D odge , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— B. C. Hall, Frank R. Himes, H. C. Fraker, Geo. H . Nos, F. E. Barnes.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $159,208.35
United States Government obligations,
direct and guaranteed ________________
111,480.35
Other bonds, stocks, and securities_____
84,879.91
Banking house ___________
2,500.00
Furniture and fixtures _________________
1,500.00
Real estate owned other than banking
house __________
12,529.75
Cash, balances with other banks, and
cash items in process of collection____
107,680.03
Cash items not in process of collection..
205.40
Other assets ___________________ ;_______
200.84

Demand deposits of individuals, partner­
ships, and corporations _______________ $116,331.53
Time deposits of individuals, partnerships,
and corporations ____
263,569.54
State, county, and municipal deposits___
55,869.51
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
360.88
Capital account:
First preferred stock _________________
20,000.00
Common s to c k ________________________
20,000.00
Undivided profits _____________________
3,753.17
Preferred stock retirement fund_______
300.00

Total ------------------------------------------------ $480,184.63

Total ------------------------------------------------ $480,184.63


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM EN T

190

No. 534.
THE PO RT AU STIN STATE BANK, PORT AUSTIN.
Organized January 10, 1913.
R o bert E. T h ü e m m e l , P r e s i d e n t ; F red H. B r o w n , V i c e P r e s i d e n t ; H arold F. F in a n ,
C a s h i e r ; A rn old J. S c h u m a c h e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Robert E, T hü em m el,

Harold F. Finan, A. F. Goretski, Fred W. Kinde,
Fred H. Brown.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $103,099.79
United States Government obligations,
direct and guaranteed ________________
14,625.00
Other bonds, stocks, andsecurities _____
13,677.81
2,500.00
Banking house _________________________
Furniture and fixtures _________________
550.00
Cash, balances with other banks, and
cash items in process of collection_____
44,228.19

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits----Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
Surplus ______________________________
Undivided profits _____________________
T o t a l __ 1___________________________

$178,680.79

$32,065.07
90,914.25
21,078.01
2,422.18
25,000.00
6,000.00
1,201.28
$178,680.79

No. 502.
THE STATE BANK OF PO RT HOPE, PO RT HOPE.
Organized May 17, 1912.
D.

M ih l e t h a l e r , P r e s i d e n t ;

R oland E il b e r ., V i c e P r e s i d e n t
R ic h a r d s , A s s i s t a n t C a s h ie r .

and

C a sh ier;

P eter

F.

D ir e c t o r s .— D. Mihlethaler, Roland Eilber, Peter F. Richards, B. W. Jenks, Jr., Lila

Eilber.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts____________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, andsecurities______
Banking house _________________________
Furniture and fixtures_________________
Cash, balances with other banks, and
cash items in process of collection_____

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$94,283.06
119,896.93
101,422.85
2,400.00
450.00
73,622.58

$392,075.42

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits ___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
Surplus ______________________________
Undivided profits _____________________
Total __________________________ - ___

$54,977.11
287,056.77
10,237.87
1,654.81
25,000.00
11,000.00
2,148.86
$392,075.42

STATE BANKS OF M ICHIGAN

191

No. 375.
PEOPLES

SAYINGS BANK, PO RT HURON.
Organized July 23, 1907.

M a r s h a l l E. C a m p b e l l , C h a ir m a n o f t h e B o a r d .
M yron E. O gden , P r e s i d e n t ; O. B. S o e h n e r , E x e c u t i v e V i c e P r e s i d e n t ; T h e o . W. D u n n ,
V i c e P r e s i d e n t ; R oy E. S c h u l t h e i s s ,
C a sh ier;
H ow ard J. B e a r s s , A s s i s t a n t
C a s h ie r .

D ir e c t o r s .— Marshall E. Campbell, Theo. W. Dunn, H . G. McMorran, Seeley E. Mosher,

Myron E. Ogden, Edward R. Wagenseil, R. A. W ilson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,008,199.00
Demand deposits of individuals, partner­
Overdrafts _____________________________
15.19
ships, and corporations_______________ $527,275.55
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed________________
246,294.75
and corporations -----------------1,126,690.00
Other bonds, stocks, and securities________________ 281,393.71
State, county, and municipal deposits___
160,758.24
Banking house --------------------------------------90,000.00
Deposits of other banks, certified and
Furniture and fixtures______ 1__________
10,000.00
cashier’s checks, cash letters of credit
Cash, balances with other banks, and
and travelers’ checks outstanding_____
47,873.66
cash items in process of collection________________ 538,526.30
Other liabilities ________________________
82,000.72
Other assets__________ _________________
3 750.00
Capital account:
Common stock ------------------------------------ 200,000.00
Surplus ----------------------------------------------30,000.00
3,580.78
Undivided profits ____________________
Total ------------------------------------------------$2,178,178.95

Total ------------------------------------------------ $2,178,178.95

No. 330.
M AYNARD-ALLEN

STATE

BANK, PORTLAND.

Organized December 21, 1905.
W . H . M c B r id e , P r e s i d e n t ; L eo C. L e h m a n , V i c e P r e s i d e n t ; C a r l O. D e r b y , C a s h i e r ;
C lo yc e V a n H o u te n , M a l c o l m B. R o b e r t so n , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .

Carl O. Derby, W. H . McBride, Helen A. Woodbury, George Fisher, Leo C.
Lehman, C. M. Divine.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $260,352.61
Overdrafts ___________________________ _
’ 1421
United States Government obligations,
direct and guaranteed ________________
117,718.75
Other bonds, stocks, and securities_____
171,665.72
Banking house _________________________
5,501.31
Furniture and fixtures__________________
'793*25
Cash, balances with other banks, and
cash items in process of collection____ 100,558.87

Demand deposits of individuals, partner­
ships, and corporations _______________ $162,746.69
Time deposits of individuals, partnerships,
and corporations --------------------------------- 367,595.01
State, county, and municipal deposits___
30,237.73
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10,711.86
Capital account:
Common s t o c k __ ____________________
50,000.00
Surplus ----------------------------------------------25A00.00
Undivided profits _____________________
6,889.38
Reserve for contingencies___________
3,424.05

Total ------------------------------------------------ $656,604.72

Total ---------------------- ------------------------- $656,604.72


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

192

No. 567.
THE POSEN STATE BANK, POSEN.
Organized August 6, 1915.
F rank

E.

S m i t h , P r e s i d e n t ; C. F. St e v e n s , C h a ir m a n a n d V i c e P r e s i d e n t ;
E n n e s t , C a s h i e r ; A n na C. ■E n n e s t , A s s i s t a n t C a s h ie r .

H a r le y

D ir e c t o r s .— Charles F. Stevens, Anna C. Ennest, A. J. Wozniak, Frank E. Smith, H. A.

Taylor, Mary Smith, Harley Ennest.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $131,550.44
Overdrafts _____________________________
.63
United States Government obligations,
162,053.08
direct and guaranteed _______________
Other bonds, stocks, and securities____
11,460.00
Banking house _________________________
2,300.00
1,000.00
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in processof collection-------34,772.83
Other assets ____________________________
108.50

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations-----------------------Time deposits of individuals, partnerships,
and corporations __________
State, county, and municipal deposits----Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
First preferred s t o c k ----- --------------------Common stock _______________________
Undivided profits --------------------------------Preferred stock retirement fund_______
Total _______________________________

$343,245.48

$42,028.48
238,824.55
29,035.37
775.12
10,000.00
20,000.00
2,006.96
575.00
$343,245.48

No. 731.
THE F IR S T STATE BANK OF RAVENNA, RAVENNA.
Organized August 3, 1926.
B.

P. S h e r w o o d , S r ., P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; A. E. J a c o b so n , V i c e P r e s i ­
d e n t ; S. J. L in c k , C a s h i e r ; R o m a in e C. D e C a m p , A s s i s t a n t C a s h i e r .

D ir e c t o r s .— B. P. Sherwood, Sr., A. E. Jacobson, Geo. K. Herman, A. E. Gale, S. J.

Linck, B. P. Sherwood, Jr.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts--------------------------------- $332,182.96
Overdrafts _____________________________
28.21
United States Government obligations,
direct and guaranteed ------------------------2,200.00
Other bonds, stocks, and securities-------6,663.00
Banking house --------------------------------------2,178.00
Furniture and fixtures _________________
1,800.00
Real estate owned other than banking
house ----------------------------.------------- ------83.06
Cash, balances with other banks, and
cash items in process of collection-----74,524.40
Other assets ____ !---------------------------------3,195.41

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$422,855.04

Demand deposits of individuals, partner­
ships, and corporations-----------------------Time deposits of individuals, partnerships,
and corporations --------------------------------Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding---------Other liabilities --------------Capital account:
First preferred stock ________________
Common stock _______________________
Surplus ______________________________
Undivided profits --------------------------------Reserves _____________________________
Preferred stock retirement fund—------Total _______________________________

$99,386.21
271,759.48
1,513.60
28.21
12,000.00
25,000.00
8,000.00
3,987.54
180.00
1,000.00
$422,855.04

193

STATE BANKS OF M ICHIGAN
No. 724.
THE REED CITY STATE BANK, REED CITY.
Organized March 16, 1925.
W m . M.

P orteou s,

F red F. S h e l a n d e r , V ic e P r e s i d e n t ;
R u t h M. J o h n s o n , A s s i s t a n t C a s h ie r .

P r e sid e n t;
C a sh ier;

C. A.

St i l e s ,

D ir e c t o r s .-— Fred F. Shelander, Win. M. Porteous, C. A. Stiles, Wm. H. Rowe, Fred E.

Davy, F. G. Lindell, Ray Kent.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_________________ -— $195,303.22
Overdrafts _____________________________
54.45
United States Government obligations,
direct and guaranteed ________________
52,700.00
Other bonds, stocks, and securities-------122,960.00
Banking house -----------4,000.00
Furniture and fixtures ______________ - —
482.50
Real estate owned other than banking
600.00
house __ ._____________________________
Cash, balances with other banks, and
cash items in process of collection-----_ 134,962.78
Total __________________ - ___________

Demand deposits of individuals, partner­
ships, and corporations__________ —
$128,053.82
Time deposits of individuals, partnerships,
and corporations _____________________
261,486.30
State, county, and municipaldeposits —
76,842.07
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding---------5,064.98
Capital account:
Common stock ___________________- —
25,000.00
10,000.00
Surplus ______________________________
Undivided profits _______________________
4,615.78
Total _______________________________

$511,062.95

$511,062.95

No. 587.
•

TH E STATE SAYINGS BANK OF REESE, REESE.
Organized November 18, 1916.

S a m u e l R. P a r k , P r e s i d e n t ; G eorge F. S a h r , P ete r B ie r l e in , V i c e P r e s i d e n t s ; A ijoluh
J. K a m m , C a s h i e r ; A l m a N u r m in g e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Adolph J. Kamm, Samuel R. Park, George F. Sahr, Peter Bierlein, Stephen

A. Noble.

Statement December 31, 1938.
ASSETS
Loans and discounts--------------------------------- $180,617.74
Overdrafts _____________________________
34.34
United States Government obligations,
direct and guaranteed _______________
111,686.23
Other bonds, stocks, and securities____
1,000.00
Banking house _________________________
2,400.00
Furniture and fixtures _________________
300.00
Cash, balances with other banks, and
cash items in process of collection____
169,248.49

Total _______________________________ $ 465,286.80


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ____
State, county, and municipal deposits __
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-----Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits ---------------------------- —
Reserve for contingencies ____________

$72,346.46
320,446.94
25,043.14
200.00
20,000.00
20,000.00
6,923.15
327.11

Total ___________ ____________________ $ 465,286.80

194

STATE BANKING D EPARTM ENT
No. 393.
THE STATE SAVINGS BANK OF REMUS, REMUS.
Organized February 1, 1908.

A dam ,T. D i e h m , P r e s i d e n t ; G eorge B il b r o u g h , V i c e P r e s i d e n t ;
and

T ru st

I ra l P h i l i p s , C a s h i e r

O fficer.

D ir e c t o r s .— Adam J. Diehm, George Bilbrough, Iral Philips, Ray Roe, Fred L. Shepard.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _____________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____

Total _______________________________

$93,218.95
30,250.00
28,662.18
3,200.00
200.00
74,676.25

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations ______
State, county, and municipal deposits___
United States Government and postal
savings deposits ______
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ________________ ______________
Undivided profits _____________________

$230,207.38

Total _______________________________

$81,175.22
74,559.67
37,021.00
570.00
2,656.37
25,000.00
6,300.00
2,925.12
$230,207.38

No. 206.
MACOMB COUNTY SAVINGS BANK, RICHMOND. (LEN O X P. O.)
Organized July 2, 1898.
H arold E. P a r k e r , P r e s i d e n t ; W il l i a m J. S a s s , C a r l E. H a a r , Vice P r e s i d e n t s ; E.
G r a n t P in n e y , C a s h i e r ; F r a n k «T. G e h r in g e r , M ab e l A. W in k e l , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— Harold E. Parker, W illiam ,T. Sass, Charles W. Beier, Edward W. Priestap,

Joseph W. Winkel, Mathias N othaft, Carl E. Haar.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $223,518.22
Overdrafts ______
88.49
United States Government obligations,
direct and guaranteed ________________
74,225.00
Other bonds, stocks, andsecurities______
32,202.47
Banking house _________________________
5,000.00
Furniture and fixtures _____ ___________
2,500.00
Reserve with Federal Reserve B a n k ____
22,055.48
Cash, balances with other banks, and
cash items in process of collection____
59,571.81
Other assets ___ _________________ I_____
93.33

Total

----------------------------------------------- $419,254.80


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits _____________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common stock __________
Surplus ______________________________
Undivided profits _____________________
Reserve for contingencies_____________
Total

$51,643.48
228,630.78
67,600.67
290.79
605.87
50,000.00
10,000.00
6,189.94
4,293.27

----------------------------------------------- $419,254.80

STATE BANKS OF MICHIGAN

195

No. 429.
R IV E R D A LE STATE SAVINGS BANK, R IV ERD ALE .
Organized April 15, 1909.
O tto M. B l a ir , P r e s i d e n t ; A lfre d L o c e y , V i c e P r e s i d e n t ; F red L e it e r , V i c e P r e s i d e n t
and

C a s h ie r .

D ir e c t o r s .— Otto M. Blair, Paul D. Bywater, Alfred Locey, Fred Leiter, Sumner Hoxie,

Wm. S. Gould. James Schnepp.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts______________
$102,950.78
United States Government obligations,
direct and guaranteed _______________
70,600.00
16,700.00
Other bonds, stocks, and securities_____
Banking house _____________ ,___ ________
1,350.00
Furniture and fixtures_________________________900.00
Cash, balances with other banks, and
cash items in process of collection____
77,057.28

Demand deposits of individuals, partner­
ships, and corporations_______ _______
Time deposits of individuals, partnerships,
and corporations ______
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________

Total _________________________ ______ $269,558.06

Total

_____________________________

$69,303.10
116,536.18
47,184.92
6.20
25,000.00
10,000.00
1,527.66
$269,558.06

No. 622.
R IV E R ROUGE SAVINGS BANK, R IV E R ROUGE.
Organized January 11, 1919.
W

il f r e d

D a n ie l

H . B u r k e , P r e s i d e n t ; J o h n C a s s i d y , H e r m a n W . G o l d n it z , V i c e P r e s i d e n t s ;
J. G o n ie a , V i c e P r e s i d e n t a n d C a s h i e r ; W m . J. B r u n e l l e , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— Dr. Henri Belanger, W ilfred H. Burke, John Cassidy, Herman W. Goldnitz,

Emery Schonfeld, George W. Burke, Thomas Lancaster.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $978,401.65
Overdrafts _____________________________
.24
United States Government obligations,
direct and guaranteed _______________
276,416.36
Other bonds, stocks, and securities ____
278,738.61
Banking house _________________________
38,712.68
Furniture and fixtures__________________
5,810.96
Cash, balances with other banks, and
cash items in processof collection_____
446,189.86
Other assets ___________________________
17,354.62

Demand deposits of individuals, partner­
ships, and corporations ______
$359,172.33
Time deposits of individuals, partnerships,
and corporations _
1,239,713.77
State, county, and municipaldeposits
_
281,227.81
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
24,216.08
Other liabilities ________________________
12,232.67
Capital account:
Common stock ____
75,000.00
Surplus ______________________________
30,000.00
Undivided p ro fits ____ _____________ 7_
8,372.54
Reserve for contingencies ____________
11,689.78

Total _______________________________ $2,041,624.98

Total _____ ____________________ - ___ $2,041,624.98


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM EN T

196

No. 331.
THE ROCK FO RD STATE BANK, ROCKFORD.
Organized December 9, 1905.
L. E. S e a r s ,

P r e s id e n t;

F. W. P e t e r so n , J. H. P a r m e t e r ., V i c e
C a s h i e r : F. W. N ag e l , A s s i s t a n t C a s h ie r .

P r e s id e n ts ;

E. J. M u ir ,

D ir e c t o r s .— L. E. Sears, F. W. Peterson, .T. H. Parmeter, E. J. Muir, F. W. Nagel.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________
$142,393.95
United States Government obligations,
direct and guaranteed ________________
82,500.00
Other bonds, stocks, and securities____
68,645.08
Banking house _________________________
3,000.00
Furniture and fixture __________________
750.00
Cash, balances with other banks, and
cash items in process of collection____
245,406.11

Demand deposits of individuals, partner­
ships, and corporations ____________ __ $182,314.35
Time deposits of individuals, partnerships,
and corporations ____________________
270,979.85
State, county, andmunicipal deposits____
29,485.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
1,071.31
Other liabilities ________________________
1,848.00
Capital account:
Common stock _______________________
30,800.00
10,000.00
Surplus ______________________________
Undivided profits
_________________
16,196.63

T o t a l ----- ------------------------------------------ $542,695.14

Total ----------------------------------------------

$542,695.14

No. 354.
THE PRESQUE ISLE COUNTY SAYINGS BANK, ROGERS CITY.
Organized December 5, 1906.
F. J.

F is c h , P r e s id e n t and C h a irm a n
G eo . W . G r a m b a u , C a s h i e r ;

o f t h e B o a r d ; H . H. G i l p i n , V i c e P r e s i d e n t ;
J o h n S. B la s ic y , A s s i s t a n t C a s h i e r .

D ir e c t o r s .— Rudolph Dueltgen, F. J. Fisch, H . H. Gilpin, G. J. Kane, Joseph Valentin,

Clarence Mertz, J. G. Munson, C. A. Vogelheim, Louis Friederich.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts________ ’_________ __ $210,324.26
Overdrafts _____________________________
84.38
United States Government obligations,
direct and gu aranteed_____ _________
78,088.00
Other bonds, stocks, and securities_____
255,714.50
Banking house
_____________________
13,555.00
Furniture and fixtures _________________
2,000.00
Cash, balances with other banks, and
cash items in process of collection____
254,288.43

Demand deposits of individuals, partner­
ships, and corporations ______________ $232,946.16
Time deposits of individuals, partnerships,
and corporations ____________________ 356,632.92
State, county, andmunicipaldeposits ___
74,918.03
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding_____
2,482.36
Other liabilities ________________________
265.50
Capital account:
First preferred stock _________________
50,000.00
Common stock ____ 1___________ _______
70,000.00
Surplus ____________ , ________________
17,500.00
Undivided p r o fits _____ .___ ___________
1,809.60
Preferred Stock retirement fund______
7,500.00

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$814,054.57

Total

$814,054.57

197

STATE BANKS OF M ICHIGAN
No. 194.
TH E ROMEO SAYINGS BANK, ROMEO.
Organized April 20, 1897.

J o h n J. B r e w e r , P r e s i d e n t ; H e n r y D. R u m s e y , B ernard F. B e r n s , V i c e P r e s i d e n t s ;
D w i g h t S. S e a m a n , C a s h ie r .
D ir e c t o r s .— John J. Brewer, Frederick P.

Smith, Dwight S. Seamon, H arold H. Gray,
Henry D. Rumsey, Robert H. Lippincott, Charles L. Mack, Bernard F. Berns.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $134,733.74
United States Government obligations,
direct and guaranteed _______________
251,134.10
Other bonds, stocks, andsecurities______
168,577.20
Banking house ________________________
25,000.00
Reserve with Federal Reserve Bank_____
135,103.89
Cash, balances with other banks, and
cash items in process of collection____
97,452.68

Demand deposits of individuals, partner­
ships, and corporations ______________ $156,002.61
Time deposits of individuals, partnerships,
462,104.65
and corporations _____________________
State, county, and municipal deposits___
115,260.27
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------9,731.08
Capital account:
Common stock _______________________
55,000.00
Surplus ___________________ ___________
12,000.00
Undivided profits _____________________
1,903.00

Total _______________________________

Total _______________________________

$812,001.61

$812,001.61

No. 531.
TH E ROMULUS STATE BANK, ROMULUS.
Organized January 23, 1913.
J a m e s A . C a r m ic h a e l , P r e s i d e n t ; L eo D. R o a c h , V i c e P r e s i d e n t ; J a m e s R. T a y l o r ,
C a s h i e r ; V ir a D. P e t r a s k a , L eo D. R o a c h , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .-—James A. Carmichael, Albert McClaughry, George W. Moore, Richard H ol­

land, Leo D. Roach, James R. Taylor.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $150,546.88
United States Government obligations,
direct and guaranteed________ ___ ;___
192,630.56
Other bonds, stocks, andsecurities______
125,563.39
Banking house ____________________ ,____
7,500.00
Furniture and fixtures _________________
2,000.00
Cash, balances with other banks, and
cash items in process of collection_____
94,744.19
Other assets ___________________________
591.00

Demand deposits of individuals, partner­
ships, and corporations ______
$113,359.66
Time deposits of individuals, partnerships,
362,495.29
and corporations _____________________
State, county, and municipal deposits___
55,550.31
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
323.77
Other liabilities ________________________
765.81
Capital account:
First preferred stock _________________
15,000.00
Common stock _______________________
25,000.00
Undivided profits ____________________
1,081.18

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$573,576.02

Total

$573,576.02

198

STATE BANKING DEPARTM EN T
No. 371.
TH E ROSCOMMON STATE BANK, ROSCOMMON.
Organized May 2, 1907.

C har les H. D e W a e le ., P r e s i d e n t ; L ester J. R oyce , V i c e P r e s i d e n t ; E. C. M u n n , C a s h i e r ;
A rthur O s t l in g , A s s i s t a n t C a s h ie r .
D ir e c t o r s — Henry J. DeWaele, W. Clarence Smith, Lester J. Royce, Charles H. DeWaele,

Edward A. Barnes.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_______________________ $137,889.46
Overdrafts______________________________
144.12
United States Government obligations,
direct and guaranteed______i _________
94,349.19
75,424.14
Other bonds, stocks, andsecurities______
Banking house _________________________
5,000.00
Furniture and fixtures_______________
1,121.47
Cash, balances with other banks, and
cash items in process of collection_____
76,888.19

Demand deposits of individuals, partner­
ships, and corporations _______________ $117,839.88
Time deposits of individuals, partnerships,
and corporations ____________________
156,570.48
State, county, andmunicipal deposits____
77,773.86
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
5,029.76
Other liabilities ________________________
11.25
Capital account:
20,000.00
Common stock __________________
Surplus _______________
2,000.00
7,591.34
Undivided p ro fits _____________________
Reserve for contingencies ____________
4,000.00

Total ______________________ - _______

$390,816.57

Total ------------------------------------------------ $390,816.57

No. 589.
T H E RO SEB U SH

STA TE B A N K , RO SEBU SH .

Organized November 7, 1916.
F loyd T. M it c h e l l , P r e s i d e n t ; J ohn P. H a u c k , D r. B. F. J o h n s t o n , H omer W .
Cam pbel l , V i c e P r e s i d e n t s ; R oy B. M atteso n , C a s h i e r ; E t h e l M. J o h n s to n , A s s i s t a n t
C a sh ier.

D irectors .— Floyd

T.

M itchell, John P. Hauck, Dr. B. F. Johnston, Harry
Homer W. Campbell, Roy B. Matteson.

Hauck,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $118,010.98
Overdrafts _____________________________
24.21
United States Government obligations,
direct and guaranteed ________________
77,118.75
Other bonds, stocks, andsecurities______
82,434.99
Banking house _________________
3,500.00
Furniture and fixtures _________________
2,000.00
Real estate owned other than banking
house ______
3,109.17
Cash, balances with other banks, and
cash items in process of collection_____
175,208.27
Cash items not in process of collection _
112.36
Other assets ___________________________
3,901.13

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$465,419.86

Demand deposits of individuals, partner­
ships, and corporations_______ ________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits _.
United States Government and postal
savings deposits ___________________ _
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Other liabilities ________________________
Capital account:
First preferred stock ______
Common stock _______
Surplus ______________________________
Undivided profits ____________________
Reserve for contingencies ____________
Total ------------------------------------------------

$79,406.11
302,191.72
25,314.21
17.53
2,066.00
3,750.00
7,000.00
20,000.00
15,000.00
964.30
9,709.99
$465,419.86

199

STATE BANKS OF MICHIGAN
No. 777.
G UARDIAN BANK OF ROYAL OAK, RO YAL OAK.
Organized August 25, 1931.

D r . G eorge R. A n d r e w s , P r e s i d e n t ; C h a s . I. N o r m a n , H ar v e y C. E m e r y , V i c e P r e s i ­
d e n t s ; L ee C. A b r a m s , V i c e P r e s i d e n t a n d C a s h i e r ; H arold F. L e a c h , A l b e r t F.
F r a n k , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— C. J. Huddleston, Chas. I. Norman,

C. H. Booth, Dr. Geo. R. Andrews,
Harvey C. Emery.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $236,542.65
United States Government obligations,
direct and guaranteed ______ _________ 1,838,020.38
178,170.20
Other bonds, stocks, andsecurities______
Furniture and fixtures _________________
5,257.08
Reserve with Federal Reserve Bank _____
250,601.70
Cash, balances with other banks, and
cash items in process of collection____
786,258.25
Other assets ___________________________
10,267.74

Demand deposits of individuals, partner­
ships, and corporations ________ _ ___ $1,241,966.89
Time deposits of individuals, partnerships,
and corporations ____________________ 1,389,894.75
State, county, andmunicipal deposits____ 410,320.37
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
31,376.33
Other liabilities ________________________
5,689.54
Capital account:
Common stock _______________________
100,000.00
Surplus ________________________________
50,000.00
Undivided profits -----------------------------------39,185.48
Reserve for contingencies ______________
36,684.64

Total _______________________________ $3,305,118.00

Total _______________________________ $3,305,118.00

No. 613.
THE CITIZEN S STATE BANK OF RU DYARD, RU DYARD.
Organized March 25, 1918.
N. L. F ie l d , P r e s i d e n t ; D. E. T u r n er , V i c e P r e s i d e n t ; E, M. B a td o r f f , C a s h i e r ; L.
D ale B a t d o r f f , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— N. L. Field, D. E. Turner, R. J. Forgrave, E. M. Batdorff, L. Dale Batdorff.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts ___________
$123,934.06
Overdrafts __________________ ____ I ____
22.92
United States Government obligations,
direct and guaranteed
28,995.00
Other bonds, stocks, and securities
32,803.80
Banking house _________________________
3,744.00
Furniture and fixtures _________________
1,260.00
Cash, balances with other banks, and
cash items in process of collection_____
26,284.04
Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$217,043.82

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits-Dividends declared but not yetpayable Capital account:
Common stock ___________________ _—
S urplus____________
Undivided profits ____________________
Total _______________________________

$54,801.20
99,527.09
31,260.66
600.00
20,000.00
10,500.00
354.87
$217,043.82

200

STATE BANKING DEPARTM EN T
No. 789.
SAGINAW STATE BANK, SAGINAW.
Organized September 10, 1934.
One Branch.

J. M. S h a c k l e t o n , P r e s i d e n t ; L a w r e n c e TIe y d r ic k , E. F. W ie n e k e ,
E. E. S p e c k h a r d , C a s h i e r ; H. W. H o c h t h a n n e r , A s s i s t a n t

V ic e

P r e s id e n ts ;

C a sh ier.

D ir e c t o r s .— Fred

L. Crawford, James C. Graves, James M. Shackleton, H oward
Stoddard, H. Randall Wickes, E. F. Wieneke, Lawrence Heydrick.

J.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $2,934,426.28
Demand deposits of individuals, partner­
United States Government obligations,
ships, and corporations _________
$1,814,850.40
direct and guaranteed ________________ 1,420,442.42
Time deposits of individuals, partnerships,
Other bonds, stocks, andsecurities__________________ 729,064.40
and corporations _____________________ 3,758,452.07
Banking house _________________________
94,000.00
State, county, and municipaldeposits____
90,717.59
Furniture and fixtures _________________
6,000.00
Deposits of other banks, certified and
Reserve with Federal Reserve Bank_________________ 382,040.33
cashier’s checks, cash letters of credit
Cash, balances with other banks, and
and travelers’ checks outstanding_____
220,925.75
cash items in process of collection____
839,389.20
Dividends declared but not yetpayable—
2,520.00
Cash items not in process of collection—
7,605.52
8,918.60
Other liabilities ________________________
3,653.09
Other assets _______________
Capital account:
First preferred stock _________________
157,000.00
Common stock _______________________
200,000.00
Surplus ---------------------------------- -----------130,000.00
Undivided profits ____________________
24,836.83
Reserve for contingencies ____________
8,400.00
Total ------------------------------------------------ $6,416,621.24

Total ------------------------------------------------$6,416,621.24

No. 390.
THE ST. CHARLES STATE BANK, ST. CHARLES.
Organized March 24, 1908.
E.

H. F o x ,

P r e s id e n t ;

A.

T. S a n d e r so n ,

V ic e

P r e s id e n t ;

L. A. M u r f h y ,

C a sh ier.

D ir e c t o r s .— E. H. Fox, A. T. Sanderson, S. C. Sanderson, Clair Whaley, Lloyd Crane,

L. A. Murphy, Lynn E. Rogers.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $250,310.72
United States Government obligations,
70,000.00
direct and guaranteed _______________
Other bonds, stocks, and securities_____
104,610.00
Banking house _________________________
6,000.00
Furniture and fixtures__________ ________
2,000.00
75,852.61
Reserve with Federal Reserve Bank ____
Cash, balances with other banks, and
cash items in process of collection___ 53,387.33
Other assets ___________________________
3,152.26

Total ___________________________ ____


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$565,312.92

Demand deposits of individuals, partner­
ships, and corporations______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits _______ _____________
Total ________ ___________________ ___

$84,647.64
325,209.34
79,496.19
22,000.00
1,946.29
25,000.00
25,000.00
2,013.46
$565,312.92

STATE BANKS OF M ICHIGAN

201

No. 29.
TH E COM MERCIAL & SAVINGS BANK OF ST. CLAIR, ST. CLAIR.
Organized October 16, 1886.
F eed

W. M oore ,

P r e s id e n t;

M. F a r r , A r t h u r E. M a w ,
Sm it h , A s s i s t a n t C a sh ie r ;

C harles

I. N o r m a n ,

E x e c u t i v e V i c e P r e s i d e n t ; R o bert
F r a n k l in H. M oore , C a s h i e r ; G. G ra n t
C. H . F. A nder so n , A u d i t o r .
V ic e P r e s id e n ts ;

D i r e c t o r s — E . Harry Recor, W alter S. Shaw, Fred W. Moore, Simon Gliem, Robert M.

Farr, John H. Schlinkert, Arthur E. Maw, Charles I. Norman.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $585,970.42
Overdrafts _____
11.12
United States Government obligations,
direct and guaranteed________________ 1,478,850.88
Other bonds, stocks, andsecurities_______
74,438.70
Banking house __________________ .'_____
48,200.00
5,830.00
Furniture and fixtures _________________
Real estate owned other than banking
house ________________________ ________
7,720.00
Reserve with Federal Reserve Bank_____ 135,846.56
Cash, balances with other banks, and
cash items in process of collection_____
513,582.74

Demand deposits of individuals, partner­
$440,528.86
ships, and corporations ________
Time deposits of individuals, partnerships,
and corporations _____________________ 1,607,535.29
State, county, and municipal deposits___
262,116.30
United States Government and postal
savings d ep osits_________
235,636.93
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
41,214.36
Capital account:
First preferred stock ________________ _
75,000.00
Common stock _______________________
75,000.00
Surplus ________________________ ,_____
90,000.00
Undivided profits ____________________
22,481.18
Reserves _____________________________
937.50

Total ------------------------------------------------$2,850,450.42

Total ------------------------------------------------ $2,850,450.42

No. 45.

TH E STATE BAN K OF ST. JOHNS, ST. JOHNS, M ICHIGAN.
Organized August 19, 1885.
A. E. W il s o n , P r e s i d e n t ; R. G. C l a r k , A. G. J o n e s ,
C a s h i e r ; E. A. T a l l m a d g e , A sa G il l s o n , A s s i s t a n t

V ic e

L. W. W o l f ,
F . E a r l P a r k s , J r .,

P r e s id e n ts ;

C a sh ie r s;

A u d ito r .

D ir e c t o r s .— A. E. W ilson, R. G. Clark, A. G. Jones, D. D. Parr, E. W. Fehling, V. A.

Walker, G. G. Steel.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________ ;________ $283,174.52
Overdrafts _________ ’___________________
17.04
United States Government obligations,
direct and guaranteed ________________
322,825.04
Other bonds, stocks, and securities_____
272,172.34
Banking house _________________________
20,000.00
Furniture and fixtures ________________
2,500.00
Real estate owned other than banking
house ________________________________
16,806.35
Reserve with Federal Reserve Bank_____
159,942.78
Cash, balances with other banks, and
cash items in process of collection____
144,710.60

Demand deposits of individuals, partner­
ships, and corporations _______________ $336,973.87
Time deposits of individuals, partnerships,
and corporations ____________________
706,366.42
State, county, and municipal deposits___
59,923.41
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
708.00
Capital account:
First preferred stock _________________
40,000.00
Common stock _______________________
50,000.00
Surplus ----------------------------------------------15,000.00
Undivided profits ___
13,176.97

Total ------------------------------------------------ $1,222,148.67

Total ------------------------------------------------ $1,222,148.67


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM EN T

202

No. 781.
TH E PEOPLES STATE BANK OF ST. JOSEPH, ST. JOSEPH.
Organized January 4, 1932.
J o h n S. S t u b b l e f ie l d , P r e s i d e n t ; F r e d e r ic k S. U p t o n , B en K a s i s c h k e , V i c e P r e s i d e n t s ;
J. H. R e i n k i n g , C a s h i e r ; B. R . M oore , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Stanley R. Banyon, Ben Kasischke, Eugene J. O'Toole, J. H. Reinking, John

S. Stubblefield, Frederick S. Upton.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $248,252.14
Overdrafts _____________________________
272.19
United States Government obligations,
direct and guaranteed _______________ 1,396,856.95
225,897.20
Other bonds, stocks, and securities_____
Banking house _________________________
43,588.80
3,791.10
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection___
668,837.40
Other assets ___________________________
1,733.41

Demand deposits of individuals, partner­
ships, and corporations _______________ $1,121,615.59
Time deposits of individuals, partnerships,
and corporations ____________________
834,843.68
410,715.43
State, county, andmunicipal deposits____
United States Government and postal
savings deposits ______________________
10,506.75
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
2,254.84
Other liabilities _______________________
307.89
Capital account:
Common stock ______________________
100,000.00
Surplus __________________________
30,000.00
35,617.83
Undivided profits --------------------------------Reserve for contingencies__ _________
43,367.18

Total _______________________________ $2,589,229.19

Total _______________________________ $2,589,229.19

No. 42.

TH E COM MERCIAL SAYINGS BANK OF ST. LOUIS, M ICHIGAN.
Organized November 25, 1889.
F. C. P e r n e r t ,

R a l p h L. G o g g in , F r a n c is L. O ’ M e l ia , V i c e
V erb E. N u n n , C a s h i e r ; R. T e r w il l ig e r , A s s i s t a n t C a s h ie r .
P r e s id e n t;

P r e sid e n ts;

D ir e c t o r s , — Vere E. Nunn, F. L. O’Melia, F. C. Pernert, Ralph L. Goggin, Elmer Caywood, W alter V. Hess, Edward H . Yost, Fred Try on. Martin Bebow.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $321,610.68
Overdrafts ___________ __________ ________
37.40
United States Government obligations,
direct and guaranteed ------------------------ 213,476.14
Other bonds, stocks, and securities-------184,177.16
Banking house _________________________
12,250.00
Furniture and fixtures__________________
2,500.00
Cash, balances with other banks, and
cash items in process of collection------- 249,830.42
Cash items not in process of collection—
294.23

Demand deposits of individuals, partner­
ships, and corporations ______________ $341,283.04
Time deposits of individuals, partnerships,
and corporations _____________________
396,212.88
State, county, and municipal deposits___
173,903.43
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
9,105.27
Capital account:
Common stock _______________________
50,000.00
Surplus _____________________________ _
12,500.00
Undivided profits _____________________
171.41
Reserve for contingencies_____________
1,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$984,176.03

Total _______________________________

$984,176.03

203

STATE BANKS OF MICHIGAN

No. 265.
TH E CITIZEN S BANK OF SALINE, SALINE.
Organized October 20, 1902.
0. A. C u r t i s s ,

P r e sid e n tj

M a r t in F u o s s , V i c e P r e s i d e n t ; H. A. H o l m e s , C a s h i e r ; H. W.
K u e b le r , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— C. A. Curtiss, B. D. Hammond, Martin Fuoss, W illiam S. Harwood, Arthur

J. Lutz, H. A. Holmes.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $347,262.95
Overdrafts ________________ -___________
11.43
United States Government obligations,
direct and guaranteed ________________
157,746.77
Other bonds, stocks, and securities_____
193,940.63
12,000.00
Banking house -----------------Furniture and fixtures _________________
3,500.00
Real estate owned other than banking
house ________________________________
32,700.00
Cash, balances with other banks, and
cash items in process of collection___ _ 271,249.20
Cash items not in process of collection-228.02
Other assets_________________________ ___
2.00

Demand deposits of individuals, partner­
ships, and corporations _______________ $134,332.67
Time deposits of individuals, partnerships,
and corporations __________
704,301.64
State, county, and municipal deposits___
16,074.59
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10,028.27
Capital account:
Common stock _______________________
50,000.00
Surplus -------------------------- -------------------50,000.00
53,903.83
Undivided profits ____________________

Total ____________________________ __ $1,018,641.00

Total _______________________________ $1,018,641.00

No. 395.
THE SALINE SAVINGS BANK, SALINE.
Organized February 29, 1908.
L ee T e s c h e r , P r e s i d e n t ; G eo . J. F e l d k a m p , G. C. T o w n s e n d , V i c e P r e s i d e n t s ; A. R.
B ij r k h a r d t , C a s h i e r ; C la r e n c e E . C o o k , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— George J. Feldkamp, J. H. Feldkamp, F. O. Wiedman, Joseph Burkhardt,

Lee Teseher, Alfred Hertler, G. C. Townsend.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $149,335.21
Overdrafts _____________________________ '
229.47
United States Government obligations,
direct and guaranteed ________________
34,750.00
Other bonds, stocks,and securities_______
144,217.00
Banking house ___
11,000.00
Furniture and fixtures _________ :----------5,800.00
Cash, balances with other banks, and
cash items in process of collection____
91,227.14

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$436,558.82

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Undivided profits _____________________
Total _______________________________

$76,450.33
297,583.05
15,984.72
845.39
20,000.00
25,000.00
695.33
$436,558.82

STATE BANKING D EPARTM EN T

204

No. 231.
STATE BANK OF SANDUSKY, SANDUSKY.
Branch in Mariette, Michigan.
Organized May 9, 1901.
C.

J. O le,son ,

P r e s id e n t ;

J. H. H ands ,

V ic e

P r e s id e n t;

W. R. W iley ,

C a sh ie r ;

J. E.

L o w e, A s s is t a n t C a sh ier.
D ir e c t o r s .— C. J. Oleson, R. W. McKenzie, John H. Hands, P. C. Ballard, K. H. McKenzie,

W. R. Wiley, J. E. Lowe, Ray McDonald, R. A. McPherson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________ - - _____ $476,662.84
Overdrafts _____________________________
78.17
United States Government obligations,
direct and guaranteed ------------------------ 400,748.00
522,625.99
Other bonds, stocks, and securities_____
Banking house --------------------------------------21,500.00
Furniture and fixtures _________________
4,000.00
Real estate owned other than banking
house ________________________________
8,620.67
Cash, balances with other banks, and
cash items in process of collection____
406,245.89
Other assets ___________________________
358.35

Demand deposits of individuals, partner­
ships, and corporations_______________ $480,548.73
Time deposits of individuals, partnerships,
and corporations _____________________ 1,004,563.85
State, county, and municipal deposits___
196,584.57
United States Government and postal
savings deposits ______________________
1,074.88
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,542.62
Capital account:
First preferred stock _________________
78,400.00
Common stock _______________________
40,000.00
15,200.00
Surplus ______________________________
Undivided p ro fits ____________ ________
14,225.26
Preferred stock retirement fund_______
6,900.00
Reserve for dividends payable in com­
mon stock __________________________
800.00

Total _______________________________ $1,840,839.91

T o t a l __________________ ____________ $1,840,839.91

No. 350.
THE FR U IT G ROW ERS STATE BANK OF SAUGATUCK, MICH.
Organized September 3, 1906.
R. J. W a l k e r ,

P r e sid e n t;

G eo . L. H o y , V i c e P r e s i d e n t ; L. R. B r a dy , C a s h i e r ; H. W.
T il l , A s s i s t a n t C a s h ie r .

D ir e c t o r s .-—R. J. Walker, Ira Koning, Leon Shepard, Geo. L. Hoy, H. H. Van Syckel.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_______________ $180,205.03
Overdrafts ----------------------------------------------49.84
United States Government obligations,
direct and guaranteed ________________ 1 35,900.00
Other bonds, stocks, and securities_____
225,286.45
Banking house _________________________
12,000.00
Furniture and fixtures _________________
340.00
Reserve with Federal Reserve Bank_____
31,562.88
Cash, balances with other banks, and
cash items in process of collection____
104,009.89

Demand deposits of individuals, partner­
ships, and corporations ______________ $162,882.62
Time deposits of individuals, partnerships,
and corporations _____________________
313,722.04
State, county, and municipal deposits___
29,147.08
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10,417.85
Capital account:
Common s to c k ________________________
60,000.00
Surplus ______________________________
6,000.00
Undivided profits ___________ ._________
7,184.50

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$589,354.09

Total _______________________________

$589,354.09

205

STATE BANKS OF MICHIGAN
No. 269.
CENTRAL SAYINGS BANK, SAIJLT STE. M ARIE.
Organized November 11, 1902.

M a r s h a l l N. H u n t , P r e s i d e n t ; F r a n k P. S u l l iv a n , V i c e P r e s i d e n t ,; A. W e s l e y C l a r k e ,
V ic e P r e s i d e n t a n d C a s h i e r ; C h e s t e r W . S w a r t , C a r lton L in d s t r o m , A s s i s t a n t
C a s h ie r s .

D ir e c t o r s .— Marshall N. Hunt. R. P. Hudson, W . R. Cowan, Frank P. Sullivan, John R.

Cullis, V. L. Lipsett, A. Wesley Clarke.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts______________ $284,608.18
Overdrafts _____________________________
14.37
United States Government obligations,
direct and guaranteed ---------------------- — 220,337.32
Other bonds, stocks, and securities-----610,567.34
Banking house _____________
52,675.00
Furniture and fixtures --------------------------1,782.60
Real estate owned other than banking
house ________________________________
1,680.11
Reserve with Federal Reserve Bank----104,997.13
Cash, balances with other banks, and
cash items in process of collection— __ 314,468.53

Demand deposits of individuals, partner­
ships, and corporations------------------------- $432,158.61
Time deposits of individuals, partnerships,
and corporations -------------------------------775,021.7?
State, county, and municipal deposits----198,945.49
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------8,861.02
Other liab ilities-- ---------------------1------------1,900.00
Capital account:
First preferred stock _________________
15,000.00
Second preferred stock -----------------------55,000.00
Common stock _______________________
40,000.00
Surplus ______________________________
40,000.00
14,243.73
Undivided profits -------------- — ------------Reserve for contingencies --------------------10,000.00

Total _______________________________ $1,591,130.58

T o t a l ___ '___________________________ $1,591,130.58

No. 54.

SAULT SAYINGS BANK, SAULT STE. M ARIE.
Organized November 20, 1886.
M. J. M agee , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; H e n r y H ic k l e r , F red K. S h a f e r ,
V i c e P r e s i d e n t s ; R. J. T u x w o r t h , C a s h i e r ; W m . T. B l a c k s t o c k , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— M. J. Magee, Henry Hickler, D. E. Murray, J. R. Merrifield, John P. Old,

Fred K. Shafer, Rohert C. Kline, Jr.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-------------------------------- $369,450.66
Overdrafts --------------------------------------------14.20
United States Government obligations,
direct and guaranteed------------------------223,550.00
Other bonds, stocks, and securities-------- 806,153.43
Banking house _________________________
37,500.00
Furniture and fixtures______ •-----------------4,000.00
Real estate owned other than banking
house ________________________________
6,831.36
Reserve with Federal Reserve Bank-------138,500.92
Cash, balances with other banks, and
cash items in process of collection-----448,281.09
Other assets ------------------------------------------446.29

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $413,069.49
Time deposits of individuals, partnerships,
and corporations _____________________ 1,117,752.50
State, county, and municipal deposits---242,108.67
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------32,990.91
Capital account:
First preferred stock _________________
21,000.00
Second preferred stock -----------------------75,000.00
Common stock _______________________
20,000.00
Surplus ______________________________
56,000.00
Undivided profits _____________________
53,665.93
Reserve for contingencies--------------------3,140.45

Total _______________________________ $2,034,727.95

Total _______________________________ $2,034,727.95


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

206

STATE BANKING D EPARTM ENT
No. 407.

THE KALAM AZOO COUNTY STATE BANK OF SCHOOLCRAFT, M ICHIGAN.
Organized August 17, 1908.
Elm s

C harles L. II a Orenburg , V i c e P r e s i d e n t ;
C a s h i e r ; L . M. A ngell , A s s i s t a n t C a s h ie r .

Straub , P r e s i d e n t ;

W. H. A ngell ,

D irectors .— W. E. Eldridge, Ellis Straub, R. S. Harter, C. L. Hackenburg, M. E. Harvey.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-____________________ $193,375.84
Overdrafts ______________________________
’
.41
United States Government obligations,
48,863.21
direct and guaranteed ________________
Other bonds, stocks, and securities____
54,719.55
Furniture and fixtures _________________
400.00
Cash, balances with other banks, and
cash items in process of collection____
55,613.32
Other assets____________________________
187.34

Demand deposits of individuals, partner­
ships, and corporations ______________ $101,381.84
Time deposits of individuals, partnerships,
147,097.36
and corporations ______________
State, county, and municipal deposits___
62,021.23
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,175.49
Other liabilities ________________________
2,907.33
Capital account:
10,000.00
First preferred stock _________________
Common stock _______________________
20,000.00
Surplus ----------------------------------------------2,000.00
Undivided profits _____________________
387.77
Reserve for contingencies _____________
1,688.65
Preferred stock retirement fund_______
500.00

Total ------------------------------------------------ $353,159.67

Total ------------------------------------------------ $353,159.67

No. 204.
STATE SAYINGS BANK O F SCOTTVILLE, SCOTTVILLE.
Branch in W alkerville, Michigan.
Organized June 30, 1898.
C. W. M cP h a il , P r e s i d e n t ; R. J. S m i t h , V i c e P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ;
J. T. O’H earn , C a s h i e r ; A. L. F urlong , I. J. E ddy, R u t h A. L u n d q u ist , A s s i s t a n t
C a sh iers.

D irectors .— C. W. McPhail, R. J. Smith, J. T. O’Hearn, C. M. Spencer, Rupert Stephens,

N. V. McPherson, L. M attix, G. M. Mack. F. J. Reader, Jr.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ____________________ $558,669.62
Overdrafts _____________________________
279.12
United States Government obligations,
direct and guaranteed ________________
148,395.00
Other bonds, stocks, and securities____
28,540.00
Banking house --------------------------------------10,000.00
Furniture and fixtures _______________ 1,000.00
Cash, balances with other banks, and
cash items in process of collection____
132,236.81

Demand deposits of individuals, partner­
ships, and corporations ______________ $197,365.13
Time deposits of individuals, partnerships,
and corporations _____________________
504,672.92
State, county, and municipal deposits___
79^580.31
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
12,576.34
Capital account:
Common stock ----------------------- :_______
50,000.00
Surplus ---------------14,000.00
Undivided profits --------------------------------20,925.85

Total ---------------------------- -------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$879,120.55

Total ------------------------------------------------

$879,120.55

207

STATE BANKS OF MICHIGAN

No. 628.
FARM ERS & M ERCHANTS STATE BANK OF SEBEW AING, MICH.
Organized February 20, 1919.
G o d fr ie d

G e t t e l , C h a ir m a n o f t h e B o a r d ; J o h n K u m m e l , P r e s i d e n t ; M a r t in L i s t ,
E x e c u t i v e V i c e P r e s i d e n t ; A . G. L i s t , C a s h i e r : W a l t e r P . H a h n , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— Godfried

Gettel, Ernst Grassman, Martin List,
Rummel, L. H. Denner, A. G. List.

Gustav

Reinhold,

John

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $482,973.68
Overdrafts ________________________ _____
396.35
United States Government obligations,
direct and guaranteed _______________
18,550.00
Other bonds, stocks, and securities_____
162,820.00
Banking house _______________________ —
10,700.00
Furniture and fixtures__________________
3,200.00
Reserve with Federal Reserve Bank_____
193,172.15
Cash, balances with other banks, and
cash items in process of collection____ 108,426.73

Demand deposits of individuals, partner­
ships, and corporations ________
$217,830.90
Time deposits of individuals, partnerships,
and corporations ________
580,843.35
State, county, and municipal deposits
_
72,719.88
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
6,431.25
Capital account:
Common stock _______________________
50,000.00
Surplus ____
45,000.00
Undivided profits _____________________
7,413.53

Total ___ ___________________________

Total _______________________________

$980,238.91

$980,238.91

No. 779.
TH E SHELBY STATE BANK, SHELBY.
Organized October 26, 1931.
V. E. C o ope r ,

P r e s id e n t

and

C h a ir m a n

O.

of

th e

B oard;

M. O l s e n ,

T. T. S p e l l m a n ,

V ic e

P r e s id e n t;

C a s h ie r .

D ir e c t o r s .— V. E. Cooper, A. J. Rankin, C. I. Atwater, R. R

Royal, B. O. Kelly, .T. A.
Harrison, O. M. Olsen, H. K. Royal, T. T. Spellman.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-------------------------------- $141,738.32
United States Government obligations,
direct and guaranteed ________________
196,746.42
Other bonds, stocks, and securities-------- 219,213.76
Furniture and fixtures _________________
450.00
Cash, balances with other banks, and
cash items in process of collection-----97,968.88

Demand deposits of individuals, partner­
ships, and corporations __________
$181,966.33
Time deposits of individuals, partnerships,
and corporations ________
319,592.81
State, county, and municipal deposits
70,683.47
United States Government and postal
savings deposits __________________ —
25,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------3,486.45
Capital account:
Common stock _______________________
25,000.00
Surplus _______________________________
25,000.00
Undivided profits _____________________
5,388.32

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$656,117.38

Total

$656,117.38

208

STATE BANKING DEPARTM EN T
No. 398.
CENTRAL STATE SAVINGS BANK, SHEPHERD.
Organized May 2, 1908.

J. L. U pton ,

P r e sid e n t;

C. R.

C onverse ,

B ert

G reen ,

V ic e

P r e s id e n ts ;

J esse

H.

G r a h a m , C a s h i e r ; L ee B in k l e y , A s s i s t a n t C a s h ie r .
D irectors .— J. L. Upton, C. R. Converse, Bert Green, Jesse H. Graham, W. A. Parker.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $122,542.69
Overdrafts ____
35.75
United States Government obligations,
73,025.00
direct and guaranteed ________________
Other bonds, stocks, andsecurities______
37,344.10
2,300.00
Banking house ______
Furniture and fixtures _____________
2,200.00
Real estate owned other than banking
l__ ____ ________ _____
3,981.20
house ___ _
Cash, balances with other banks, and
cash items in process of collection_____
56,031.51
Other assets ___________________________
209.11
Total ___________ ___________________

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Capital account:
First preferred stock _________________
Common stock _____
Undivided profits ______________
Reserves ________ :_____________________
Preferred stock retirement fund_______

$297,669.36

Total ________________________ 1_____

$41,120.33
164,120.90
44,541.96
523.14
25,000.00
20,000.00
1,225.53
437.50
700.00
$297,669.36

No. 175.
COM MERCIAL STATE BANK OF SHEPHERD, SHEPHERD.
Organized December 4, 1894.
C laude H. E stee , P r e s i d e n t ; O. H. A d am s , V i c e P r e s i d e n t ; H. E. R o s s e l it , C a s h i e r ;
H. A. Clar k , A s s i s t a n t C a s h i e r .
D irectors .— Claude H. Estee, O. H. Adams, R. E. Adams, L. H. Mulvey, Chas. Specht,
H . E. Rosselit.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $113,862.31
Overdrafts _____________________________
501.64
United States Government obligations,
direct and guaranteed _____
50,846.82
Other bonds, stocks, and securities ____
11,618.70
Banking house _________________________
9,750.00
Furniture and fixtures _________________
2,852.88
Cash, balances with other banks, and
cash items in process of collection____
201,955.12
Other assets ____________________________
121.26

T o t a l __ ___________ ______ , _________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$391,508.73

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations __________________ _
State, county, and municipal deposits___
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ______________________________
Undivided profits _____________________
Reserves _______________________
Preferred stock retirement fund_______
Total _______________________________

$54,331.53
254,295.42
30,320.91
10,000.00
25,000.00
10,000.00
6,185.87
175.00
1,200.00
$391,508.73

STATE BANKS OF MICHIGAN

209

No. 148.
TH E CITIZEN S STATE BANK OF SOUTH HAVEN, SOUTH HAVEN.
Organized November 3, 1892.
W . A. R a t c l i f f e , P r e s i d e n t ; J acob N if f e n e g g e r , F. C. C o g s h a l -l , V i c e P r e s i d e n t s ;
C. E. D il l e y , C a s h i e r ; F. W . R a d t k e , J. R. M alb on e ,, A s s i s t a n t C a s h i e r s ; M ar y
M i leer, A u d ito r .
D ir e c t o r s .— W. A. Ratcliffe, F. C. Cogshall, E. D. Eyman, S. E. Overton, A. G. Spencer,

Jacob Niffenegger, C. E. Dilley.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts _________ I_________ $473,074.89
Overdrafts _____________________________
31.05
United States Government obligations,
direct and guaranteed ______________
699,496.88
170,127.65
Other bonds, stocks, and securities______
Furniture and fixtures _________________
5,403.38
Real estate owned other than banking
42,136.46
h o u se___________________________
Reserve with Federal Reserve B a n k ___
322,364.80
Cash, balances with other banks, and
cash items in process of collection____
206,984.86

Demand deposits of individuals, partner­
ships, and corporations_______________ $570,059.67
Time deposits of individuals, partnerships,
and corporations ____________________
859,674.06
State, county, andmunicipal deposits____
245,132.03
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
34,582.13
2,721.40
Other liabilities ________________________
Capital account:
Common stock _______________________
100,000.00
S urplus__________
100,000.00
7,450.68
Undivided profits _____________________

Total _______________________________ $1,919,619.97

Total ______________________________ -$1,919,619.97

No. 71.
TH E F IR S T STATE BANK OF SOUTH HAVEN, SOUTH HAVEN.
Organized October 12, 1889.
A r t h u r D. M oore , P r e s i d e n t ; V o l n e y R o s s , T. C. T ie d e b o h l , J r ., V i c e P r e s i d e n t s , R. B.
V an H a a f t e n , C a s h i e r ; F r a n c e s P. K e t c h a m , R obert G. L e e v e r , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— C. O. Monroe, Chas. J. Monroe, James Nicol, H. A. W illiams, T. C. Tiedebohl,

Jr., Volney Ross, J. E. Burge, Arthur D. Moore.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $227,377.68
United States Government obligations,
direct and guaranteed________________
75,537.50
Other bonds, stocks, and securities_____
107,212.54
Banking house _____________________ :___
40,000.00
Furniture and fixtures _________________
9,179.97
Reserve with Federal Reserve Bank_____ 323,455.04
Cash, balances with other banks, and
cash items in process of collection____
166,066.47
Other assets___ _______ ;___ - ___________
1,002.27

Demand deposits of individuals, partner­
ships, and corporations_______________ $428,126.71
Time deposits of individuals, partnerships,
and corporations ____________________
365,306.02
State, county, andmunicipal deposits____
57,935.67
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding_____
6,601.17
Other liabilities ________________________
1,156.60
Capital account:
Common stock _______________________
75,000.00
Surplus_________________________ ______
5,000.00
Undivided profits _____________________
9,513.56
R eserves__________
1,191.74

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$949,831.47

Total ------------------------------------------------ $949,831.47

STATE BANKING D EPARTM ENT

210

No. 306.
TH E STATE SAVINGS BANK OF SOUTH LYON, MICHIGAN.
Organized March 23, 1905.
R. C. V an W ie ,

P r e sid e n t;

J. H. S a y r e ,

V ic e

P r e s id e n t;

R. J. S m i t h ,

C a sh ie r ;

A. L.

L u k s c h e , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— J. H. Sayre, R. J. Smith, George A. Shear, Wm. A. Kalmbach, R. C. Van

Wie.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $155,742.27
United States Government obligations,
direct and guaranteed ------------------------118,021.88
80,089.89
Other bonds, stocks, andsecurities ______
Banking house _________________________
6,000.00
Cash, balances with other banks, and
cash items in process of collection_____
87,927.96
Other assets J__________________________ .80

Demand deposits of individuals, partner­
ships, and corporations _______________ $109,639.51
Time deposits of individuals, partnerships,
and corporations _______________
273,609.24
18,672.16
State, county, and municipal deposits_____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
1,785.63
and travelers’ checksoutstanding_____
Other liab ilities_,________
3,074.05
Capital account:
Common stock _______________________
25,000.00
Surplus -----------------------------------------------8,500.00
Undivided profits _____________
4,233.80
Reserve for contingencies ____________
3,268.41

Total _______________________________

$447,782.80

Total ------------------------------------------------

$447,782.80

No. 278.
SOUTH RANGE STATE BANK, SOUTH RANGE.
Organized June 27, 1903.
W. H. S c h a c h t ,

C h a ir m a n

o f th e B o a r d ;

V ic e P r e s id e n t an d C a s h i e r ;

M ic h a e l M e s s n e r , P r e s i d e n t ; H. A. K e l l o w ,
J o s e t h B a s s o , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— E. W. Kruka, Michael Messner, W. H. Schacht, L. J. Braun, F. A. Jeffers,

H. A. Kellow, G. C. Edwards.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts.____________________
Overdrafts___ |
----------------------------------------United States Government obligations,
direct and guaranteed______ '_________
Other bonds, stocks, and securities______
Banking house _________________________
Furniture and fixtures _________________
Reserve with Federal Reserve B a n k ____
Cash, balances with other banks, and
cash items in process of collection____

$80,985.85
9.10

Total ----------------- ------------------------------

$445,470.11


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

110,415.95
147,105.02
6,000.00
750.00
14,483.16
85,721.03

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits _____________________
Total -----------------------------------

$85,264.45
283,882.46
33,868.27
133.13
26,000.00
14,000.00
2,321.80
$445,470.11

STATE BANKS OF MICHIGAN

211

No. 488.
TH E PEOPLES STATE BANK OF SPARTA, SPARTA.
Organized December 3, 1910.
A l b e r t A . A n d e r so n , P r e s i d e n t ; C h a s . E. G il s o n , C o r n e l iu s G erber , V i c e P r e s i d e n t s ;
L. A . A n d e r so n , C a s h i e r ; C. G. D a h l i n , A s s i s t a n t C a s h i e r . .
D ir e c t o r s .— Albert A. Anderson, Cornelius Gerber, Chas. E. Gilson, Emory G. Anderson,

Albert H. Meeker, Geo. W. Dunn, Philip Klenk.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________
O verdrafts_____ :________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, andsecurities______
Banking house _________________________
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection_____

$53,039.50
.50
73,200.00
15,200.00
6,790.00
2,125.00
47,800.76

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations___ _________________
State, county, and municipal deposits__
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits ____________________ _
Reserve for contingencies ____________

Total ------------------------------------------------ $198,155.76

Total ------------------------------------------------

$44,201.65
79,027.62
41,889.91
511.60
25,000.00
3,000.00
3,829.77
695.21
$198,155.76

No. 207.
SPARTA STATE BANK, SPARTA.
Organized August 27, 1898.
A u g u st A. J o h n s o n , P r e s i d e n t ; W il l i a m L a u f f e r , C. A. J o h n s o n , O. N. B radford ,
V ic e P r e s i d e n t s ; A. B a r t h C a r l s o n , C a s h i e r ; I var F. J o h n s o n , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Chas. A. Johnson, A. A. Johnson, O. N. Bradford, Wm. Lauffer, A. Barth

Carlson, Henry K raft, T. E. M cFall, Fred K. Clark.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $287,747.53
Overdrafts _____________________________
152.87
United States Government obligations,
direct and guaranteed ________________
67,795.45
Other bonds, stocks, andsecurities______
119,006.78
Banking house _________________________
7,840.00
Furniture and fixtures _________________
1,367.05
Reserve with Federal Reserve Bank_____
49,004.76
Cash, balances with other banks, and
cash items in process of collection____
71,535.83
Cash items not in process of collection —
47.55

Demand deposits of individuals, partner­
ships, and corporations _________ ,_____ $175,416.75
Time deposits of individuals, partnerships,
and corporations _____________________
335,867.46
State, county, and municipal deposits—__
30,622.46
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
668.71
Capital account:
Common stock _______________________
30,000.00
Surplus ----------------------------------------------18,000.00
Undivided profits _____________________
10,922.44
Reserve for contingencies________
3,000.00

Total ------------------------------------------------ $604,497.82

Total ------------ ——, ---------------------------- $604,497.82


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

212

No. 543.

TH E SPRING LAK E STATE BANK, SPRING LAKE.
Organized November 15, 1913.
P a u l F. M a r k o f f , P r e s i d e n t ; D r . C. D. M u l d e r , G eo . S. C h r i s t m a n , V i c e P r e s i d e n t s ;
F r a n k S c h o l t e n , C a s h i e r ; C l a y t o n N e e d h a m , A s s i s t a n t C a s h ie r .
D ir e c t o r s .-— Dr. C. D. Mulder, Paul F. Markoff, Frank Scholten, George S. Christman,

Paul B. Markoff.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $464,957.64
Overdrafts ______________________________
100.00
United States Government obligations,
direct and guaranteed ____________
55,300.00
Other bonds, stocks, and securities_____
91,387.70
Banking house ________ 1________________
2,617.20
Furniture and fixtures _________________
2,000.00
Real estate owned other than banking
h o u s e ___ j--------------------------------------------6,792.29
83,554.48
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
43,018.12

Demand deposits of individuals, partner­
ships, and corporations _________ :------- $120,154.28
Time deposits of individuals, partnerships,
508,479.59
and corporations _____________________
State, county, and municipaldeposits____
27,549.71
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding_______
1,047.54
Other liabilities __________________
3,865.94
Capital account:
First preferred stock
_____________
15,000.00
Common stock _______________________
25,000.00
25,000.00
Surplus _______________________________
Undivided profits _____________________
23,588.64
Reserves _______________
41.73

Total _1_____________________________

Total _______________________________

$749,727.43

$749,727.43

No. 404.

TH E SPRIN G PO RT STATE SAYINGS BANK, SPRINGPORT.
Organized February 6, 1908.
A ll e n C r a w f o r d , J r ., P r e s i d e n t ; L e s t e r P . H oag , V ic e P r e s i d e n t ; W ard W . H e d l e y ,
C a s h i e r ; A r t h u r G. H e is l e r , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Allen Crawford, Jr., George H. Glascoff, Lester P. Hoag, W ard W. Hedley,

Earl C. W ellington, Arthur G. Hoag, W illiam B. Pierce.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $110,292.33
O verdrafts______ - ______________________
.17
United States Government obligations,
direct and guaranteed _______________
60,850.00
Other bonds, stocks, andsecurities______
51,147.42
Banking house _________________________
3,700.00
Furniture and fixtures _____
1,636.00
Reserve with Federal Reserve Bank_____
18,752.56
Cash, balances with other banks, and
cash items in process of collection___ _
40,127.23
Cash items not in process of collection-.82

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$286,506.53

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits____
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
Dividends declared but notyetpayable—
Other liabilities ________________________
Capital account:
Common stock _______________________
Surplus _______________________________
Undivided profits _____________________
Total _______________________________

$68,503.45
162,335.54
19,577.11
318.28
2,087.42
750.00
57.97
25,000.00
7,000.00
876.76
$286,506.53

213

STATE BANKS OF M ICHIGAN
No. 539,
TH E COM MERCIAL BANK OF STAMBAUGH. STAMBAUGH.
Branch in Caspian, Michigan.
Organized August 14, 1913.

C h a s . A. N e l s o n , P r e s i d e n t ; H e n r y G. H oover , V i c e P r e s i d e n t ; F. J. D a w s o n , C a s h i e r ;
M er le M. S w a n s o n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Chas. A. Nelson, Henry G. Hoover, F. J. Dawson, Frank C. Kemp, Oscar

Renberg.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________ :_______ $160,835.06
1.23
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
122,492.03
20,590.85
Other bonds, stocks, and securities____
Banking house _________________________
10,000.00
Cash, balances with other banks, and
cash items in process of collection____
108,914.05

Demand deposits of individuals, partner­
ships, and corporations_______________ $100,699.71
Time deposits of individuals, partnerships,
and corporations ____________________
160,888.48
96,910.37
State, county, andmunicipal deposits____
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checksoutstanding______
3,032.69
Other liabilities ________________________
797.97
Capital account:
Common stock _____________________
50,000.00
3,780.73
Undivided profits _____________________
Reserve for contingencies_____________
1,723.27

Total _________ _____________________

Total _______________________________

$422,833.22

$422,833.22

No. 279.
STATE BANK OF STANDISH, STANDISH.
Organized August 21, 1903.
R oy

C r a n d e l l , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; J o h n J. G w is d a l a ,
P r e s i d e n t ; C o u lso n B l a ir , C a s h i e r ; F lo ren ce L a B ar ge , A s s i s t a n t C a s h ie r .

J.

D ir e c t o r s .— R oy

J.

Candell,

W . A. Forsythe, John J. Gwisdala,
F. E. Perlberg, Coulson Blair.

Harry

M.

V ic e

Myers,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $334,298.96
Overdrafts _____________________________
264.08
United States Government obligations,
direct and guaranteed ________________
23,810.00
Other bonds, stocks, and securities____
100,600.00
Banking house _________________________
4,000.00
Furniture and fixtures _________________
500.00
Cash, balances with other banks, and
cash items in process of collection____
179,641.45
Other assets _____________
4,540.29

Demand deposits of individuals, partner­
ships, and corporations ______________ $119,077.92
Time deposits of individuals, partnerships,
and corporations _____________________
398,960.22
State, county, and municipal deposits___
65,054.18
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
560.98
Capital account:
Common stock ____ .._________________
30,000.00
Surplus ______________________________
15,000.00
Undivided profits _____________________
8,001.48
Reserve for contingencies ____________
11,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$647,654.78

Total ------------------------------------------------

$647,654.78

STATE BANKING D EPARTM ENT

214

No. 243.
STATE SAVINGS BANK, STANTON.
Organized July 11, 1901.
E lm er

S.

S t e b b in s , P r e s i d e n t a n d C h a i r m a n o f t h e B o a r d ; H . M u l h o l l a n d ,
P r e s i d e n t ; D. J. S t a r k s , C a s h i e r ; M ar g a r e t W i s n e r , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— Elmer S.

V ic e

Stebbins, H. Mulholland, Arthur Smith, D. J. Starks, Delos P.
Baker.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________ _________ $181,580.79
Overdrafts ______________________________
21.96
United States Government obligations,
direct and guaranteed ________________
25,037.50
74,611.85
Other bonds, stocks, and securities____
Banking house ________________
2,400.00
Furniture and fixtures _________________
1,100.00
Cash, balances with other banks, and
cash items in process of collection___
145,328.46

Demand deposits of individuals, partner­
ships, and corporations _______________ $112,897.98
Time deposits of individuals, partnerships,
and corporations _____________________
208,760.13
59,082.99
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,680.07
Capital account:
Common stock _______________________
25,000.00
S urplus______
11,000.00
Undivided profits ____________________
3,719.08
Reserve for contingencies ____________
6,940.31

Total _______________________________

$430,080.56

Total ------------------------------------------------ $430,080.56

No. 623.
THE STANWOOD STATE SAVINGS BANK, STANWOOD.
Organized August 12, 1918.
A . A . W o r c e st e r , P r e s i d e n t ; L oren B. H a n c h e t t , V i c e P r e s i d e n t ; W. H. N oud , C a s h ie r .
D ir e c t o r s .— E .

*

H. Riebow, A. A . W orcester, M. H. Latimer, Maud Haist, Loren B.
Hanchett.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection___ -

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$68,605.77
10,000.00
40,354.25
4,800.00
1,800.00
42,182.63

$167,742.65

Demand deposits of individuals, partner­
ships, and corporations____________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Other liabilities ________________________
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ----------------------------------------------Undivided profits ____________________
Reserves _____________________________
Preferred stock retirement fund_______
Total

$27,347.52
70,949.33
26,971.47
5,780.97
88.56
9,400.00
25,000.00
700.00
540.30
164.50
800.00
$167,742.65

215

STATE BANKS OF M ICHIGAN
No. 270.
BANK OF STEPHENSON, STEPHENSON.
Organized November 8, 1902.

E dw ar d S a w b r id g e , P r e s i d e n t ; W m . B. W in t e r , V i c e P r e s i d e n t ; M a r c e l l A. N a d e a u ,
C a s h i e r ; H eb rer t W . C o r e y , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Edward

Sawbridge, Wm. B. W inter, M arcell A. Nadeau, Arvid
Chas. Peterson, Albert Kipfer, Joseph Kralovetz.

Johnson,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $178,583.67
Overdrafts _____________________________
21.47
United States Government obligations,
direct and guaranteed________________
33,500.00
Other bonds, stocks, and securities_____
58,012.62
Banking house ______________ ___________
3,802.10
Furniture and fixtures _________________
1,588.12
Cash, balances with other banks, and
cash items in process of collection____ 162,048.46
Cash items not in process of collection-,
431.22
Other assets ___________________________
1,305.12

Demand deposits of individuals, partner­
ships, and corporations _______________ $141,748.00
Time deposits of individuals, partnerships,
and corporations ____________________
189,585.95
51,679.07
State, county, andmunicipal deposits------United States Government and postal
savings deposits ______ _—--------------------994.84
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding--------1,903.41
Other liabilities ------------------------------------3,093.10
Capital account:
Common stock _______________________
50,000.00
Undivided p ro fits --------------------------------165.67
Reserve for contingencies ------------------122.74

Total _______________________________

Total _______________________________

$439,292.78

$439,292.78

No. 392.
THE STOCKBRIDGE STATE BANK, STOCKBRIDGE.
Organized January 11, 1908.
W.

J.

D ancer,

P r e s id e n t;

C h a s . A. S t e p h e n s , V i c e P r e s i d e n t ;
A m b r o se B ra dy , A s s i s t a n t C a s h ie r .

P aul

C.

D ancer,

C a sh ier;

D ir e c t o r s .— W. J. Dancer, Paul C. Dancer, J. H . Dancer, Chas. A.

Stephens, F. M.

Bowdish, W illiam G. Dancer, John J. Farmer.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $221,602.83
Overdrafts _____________________________
1,043.96
United States Government obligations,
direct and guaranteed ________________
78,662.50
Other bonds, stocks, and securities_____
189,964.44
Banking house ________________________
3,222.50
Furniture and fixtures _________________
1,830.50
Real estate owned other than banking
house _________________________________
127.28
Cash, balances with other banks, and
cash items in process of collection____
204,584.69

Demand deposits of individuals, partner­
ships, and corporations------------------------ $235,333.27
Time deposits of individuals, partnerships,
-------358,094.29
and corporations _______________ ■
State, county, and municipal deposits----38,266.48
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------215.19
Capital account:
Common stock _______________________
30,000.00
Surplus ______________________________
30,000.00
Undivided profits ------------------------------5,129.47
Reserve for contingencies--------------------4,000.00

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$701,038.70

Total _______________________________

$701,038.70

STATE BANKING DEPARTM EN T

21G

No. 792.
TH E CITIZEN S STATE BANK, STURGIS.
Organized January 16, 1935.
E. C. W r ig h t ,

P r e s id e n t;

B. P. T ag g art ,

A ssista n t

C a sh ie r ;

V ic e

P r e s id e n t

and

C a sh ie r ;

O. J. K e e s l a r ,

F. C. M il l e r , T r u s t O fficer.

D ir e c t o r s .— H. E. Beadle, D. M. Kane, J. N. Kirsch, C. L. Spence, B. P. Taggart, T. II.

Van Buren, J. G. Van Horn, E. C. Wright.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $791,365.35
Overdrafts _I____________________________
58.93
United States Government obligations,
direct and guaranteed _______________ 2,243,000.00
161,408.66
Other bonds, stocks, and securities_____
Banking house _________________________
60,000.00
Furniture and fixtures _________________
21,000.00
Real estate owned other than banking
house ___ |
____________________________
4,197.83
Cash, balances with other banks, and
cash items in process of collection____
600,001.61

Demand deposits of individuals, partner­
ships, and corporations ____________ $1,436,185.35
Time deposits of individuals, partnerships,
and corporations _____________________ 1,689,701.62
State, county, and municipal deposits_______________ 349,465.64
Deposits of other banks, certified and
cashier’s checks, casn letters of credit
and travelers’ checks outstanding_________________ 26,343.01
Capital account:
Common stock ____________________ .__
200,000.00
Surplus —__________________________
105,000.00
Undivided profits _____________________
48,892.80
25,443.96
Reserve for contingencies ____________
Total ____________________________ j _$3,881.032.38

Total _______________________________ $3,881.032.38

No. 156.
UNITED SAVINGS BANK OF TECUMSEH, TECUMSEH.
Organized March 15, 1893.
G uy E. B ed d in g , P r e s i d e n t ; J o h n R. N y l a n d , V i c e P r e s i d e n t ; J. R . T h o m p s o n , C a s h i e r ;
G l e n n V a n D e n b e r g h , O. J. W in t e r , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— J. R. Thompson, W. E. Swick, Karl M. Schneider, Guy E. Beiding, E. M.
Campbell, John R. Nyland.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $419,208.37
United States Government obligations,
direct and guaranteed ________________
167,550.00
Other bonds, stocks, andsecurities_______ 270,737.05
Banking house _________________________
8,000.00
Furniture and fixtures__________________
1,000.00
Cash, balances with other banks, and
cash items in process of collection_____
136,605.78

Demand deposits of individuals, partner­
ships, and corporations ______________ $258,966.81
Time deposits of individuals, partnerships,
and corporations ____________
540,939.43
State, county, and municipal deposits___
82,489.99
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
15,222.66
Capital account:
First preferred stock _________________
35,000.00
Common stock _______________________
50,000.00
Undivided profits _____________________
6,328.97
Reserves ____________________________ _
9,153.34

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,003,101.20

Total

$1,003,101.20

STATE BANKS OF MICHIGAN

217

No. 258.
F IR S T STATE BANK OF TEKONSHA, TEKONSHA.
Organized March 14, 1902.
D. G. M a r t in s o n , P r e s i d e n t ; H . M. R a n d a l l , F i r s t V i c e P r e s i d e n t ; E l m e r E . A b e l ,
S r ., S e c o n d V i c e P r e s i d e n t ; B. G. D o o l it t l e , C a s h i e r ; G l e n n A . W i l l i a m s , A s s i s t a n t
C a s h ie r .

D ir e c t o r s .— B. G. Doolittle, H. A. D oolittle, D. G. Martinson, H. M. Randall, Earl H .

Warner, Elmer E. Abel, Sr.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts ___
United States Government obligations,
direct and guaranteed________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection____
Other assets _______
Total _______________________________

$66,054.09
12.98
35,602.64
59,434.48
2,500.00
977.20

Demand deposits of individuals, partnerships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
Capital account:
First preferred stock _________________
Common stock _______________________
Undivided profits ____________________

$64,331.23
163,945.21
15,000.00
30,000.00
644.34

108,512.61
826.78
Total _______________________________

$273,920.78

$273,920.78

No. 698.
THE BANK OF TH RE E OAKS, TH RE E OAKS.
Organized February 23, 1923.
M o r r is G. M c G a w n , P r e s i d e n t ; M a r t h a A n s l e y , V i c e P r e s i d e n t a n d C a s h i e r ; J u l ia
V a n G e n de ren , D a y l e E. W e l l e r , A s s i s t a n t C a s h i e r s ; F r a n k N. D o n n e r , A u d i t o r .
D ir e c t o r s .— Morris

G. McGawn, F. W. Chamberlain, Chas. P. Klute, Martha Ansley,
Lydia W. Chamberlain.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $144,199.94
Overdrafts __________________
387.88
United States Government obligations,
direct and guaranteed________________
256,000.00
Other bonds, stocks, and securities_____
195,328.55
Banking house _________________________
44,755.21
Furniture and fixtures _________________
3,224.24
Real estate owned other than banking
house -------------------------------------------------2,639.71
Cash, balances with other banks, and
cash items in process of collection____
549,777.38

Demand deposits of individuals, partner­
ships, and corporations ______________ $613,450.24
Time deposits of individuals, partnerships,
and corporations _____________________
326,987.95
State, county, and municipal deposits___
84,970.53
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,030.71
Dividends declared but not yet payable-^
4,000.00
Other liabilities ________________________
6.85
Capital account:
Common stock _______________________
100,000.00
Surplus _____________________________
32,000.00
Reserve for contingencies_____________
32,866.63

Total ------------------------------------------------$1,196,312.91

Total ------------------------------------------------$1,196,312.91


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM EN T

218

No. 778.
F IR S T PEOPLES STATE BANK, TRA VER SE CITY.
Organized October 30, 1931.
W. E. W il s o n , P r e s i d e n t ; B. H. C o m s t o c k , V i c e P r e s i d e n t ; C. W. C o l l in s , C a s h i e r ;
W. R eed C h a p in , A s s i s t a n t C a s h i e r a n d T r u s t O f f i c e r ; B l a n c h e T r a v is , A u d i t o r a n d
A ssista n t

T ru st

O fficer.

D ir e c t o r s .-—B. H . Comstock, G. W. Power, L. O. Rice, W. E. W ilson, A. J. Rounding,

Wm. E. Votruba, C. W. Collins.

Statement December 31, 1938.
LIABILITIES
Loans and discounts_____________________ $524,574.03
Overdrafts _____________________________
3.72
United States Government obligations,
direct and guaranteed ________________
187,243.46
Other bonds, stocks, andsecurities_______ 120,152.57
25,000.00
Banking house _________________________
1, 000.00
Furniture and fixtures _________________
Cash, balances with other banks, and
cash items in process of collection_____ 213,636.71
Other assets ____ :______________________
1,884.12

Demand deposits of individuals, partner­
ships, and corporations------------------------ $338,286.08
Time deposits of individuals, partnerships,
388,521.19
and corporations _____________________
State, county, and municipal deposits___ 175,663.85
United States Government and postal
12,719.67
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
7,850.35
and travelers’ checks outstanding-------15,217.08
Other liabilities ________________________
Capital account:
102,700.00
Common stock _______________________
29,000.00
Surplus ----------------------------------------------3,536.39
Undivided profits _____________________

Total _______________________________ $1,073,494.61

Total _______________________________ $1,073,494.61

No. 138.
TH E TR A VER SE CITY STATE BANK, TR A VER SE CITY.
Organized June 4, 1892.
J u l iu s L. B e e r s , P r e s i d e n t a n d T r u s t O f f i c e r ; H ar old E . J o h n s o n , V i c e P r e s i d e n t ;
F. V an M a r e n , C a s h i e r a n d A s s i s t a n t T r u s t O f f i c e r ; C. E. H a l e , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Julius L. Beers, Harold E. Johnson, H. O. Joynt, C. B. Kilbourne, M. J.

M acintosh, Duncan Morrison, John L. Novak.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________ I_________ $712,715.74
Overdrafts ___________
53.20
United States Government obligations,
direct and guaranteed _______________
635,670.00
Other bonds, stocks, and securities_____ 555,725.65
Banking house ________________________
72,500.00
Reserve with Federal Reserve Bank_____
551,309.75
Cash, balances with other banks, and
cash items in process of collection
485,094.96

Demand deposits of individuals, partner­
ships, and corporations ______________ $880,558.29
Time deposits of individuals, partnerships,
and corporations ____________________ 1,558,634.64
State, county, andmunicipal deposits____
127,217.89
Deposits of other banks, certified and
cashier’s checks, casn letters of credit
and travelers’ checksoutstanding______ 142,071.98
Other liabilities _____________________
6,618.47
Capital account:
Common stock _______________________
200,000.00
Surplus ___________________________
65,000.00
Undivided profits _____________________
17,968.03
Reserve for contingencies _____________
15,000.00

Total ------------------------------------------------ $3,013,069.30

Total _______________________________ $3,013,069.30


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKS OF M ICHIGAN

219

No. 771.
THE PEOPLES STATE BANK OF TRENTON, TRENTON.
Organized September 2, 1929.
Branch in Rockwood, Michigan.
S cott E . L a m b , P r e s i d e n t ; F. C. K ite s e l l , E x e c u t i v e V i c e P r e s i d e n t a n d C a s h i e r ;
R e m i C o o l s a e t , A aron N. S im m o n s , V i c e P r e s i d e n t ; D. F. K r u s e l l , A s s i s t a n t C a s h ie r .
D ir e c t o r s .-— Scott E. Lamb, F. C. Krusell, Remi Coolsaet, Aaron N. Simmons, Frank
C. Frantz, Meyer Ellias, Leonard Frebes, Dr. J. R. Teifer, Horace J. Smith.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $496,125.89
United States Government obligations,
100,875.47
direct and guaranteed ________________
Other bonds, stocks, andsecurities______
255,393.52
Banking house _________
33,828.09
Furniture and fixtures _________________
9,693.81
Cash, balances with other banks, and
cash items in process of collection_____ 196,061.77

Demand deposits of individuals, partner­
ships, and corporations ______________ $242,726.55
Time deposits of individuals, partnerships,
and corporations ________________ :____
502,281.58
157,513.84
State, county, and municipal deposits___
United States Government and postal
savings deposits _________ ,___________
44,408.27
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
22,725.11
Other liabilities ________________________
7,763.95
Capital account:
26,600.00
First preferred stock _________________
Common stock _______________________
50,000.00
Surplus __________________________ ____
15,900.00
Undivided profits ____________________
20,180.25
Preferred stock retirement fund_______
1,879.00

Total _________________ _____________ $1,091,978.55

Total __________________ ____________ $1,091,978.55

No. 510.
TRENTON STATE BANK, TRENTON.
Organized August 26, 1912.
A u s t in

L. V reeiland , V i c e P r e s i d e n t ; C h a r l e s A. S m i t h ,
F red W. P l u s k a t , A s s i s t a n t C a s h i e r .

C hurch, P r e s id e n t;

Sa m

V ic e

C a sh ier;

P r e s id e n t

D ir e c t o r s .— Austin

and

Church, Sam L. Vreeland, Charles A. Smith, W illiam
Nicholas F. Mans, Gustav Zulkey, Mark V. Yost.

F. Butler,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $484,192.95
Overdrafts _____________________________
24.81
United States Government obligations,
direct and guaranteed ________________
86,993.89
Other bonds, stocks, and securities_____
74,645.81
Banking house _________________________
19,600.00
Furniture and fixtures _________________
2,993.09
Reserve with Federal Reserve Bank_____
58,020.90
Cash, balances with other banks, and
cash items in process of collection____
45,152.52
Other assets ___________________________
116.55

Demand deposits of individuals, partner­
ships, and corporations_______________ $173,924.22
Time deposits of individuals, partnerships,
and corporations ____________________
362,193.67
State, county, andmunicipal deposits____
93,510.97
United States Government and postal
savings deposits ______________________
37,145.38
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
20,908.48
Other liabilities ________________________
12,346.69
Capital account:
Common stock _______________________
50,000.00
Surplus ______________________________
12,000.00
Undivided profits _____________________
1,211.11
Reserves _____________________________
8,500.00

Total ------------------------- ----------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$771,740.52

Total ________________ _______________

$771,740.52

STATE BANKING DEPARTM EN T

220

No. 289.
THE STATE SAVINGS BANK OF UNIONVILLE, ÜNIONVILLE.
Organized March 31, 1904.
H e n r y R o l l e r , P r e s i d e n t ; W. B. A c h e n b a c h , V i c e P r e s i d e n t ; H. W. H a h n , C a s h i e r ;
M a r io n D e h m e l , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— W.

B.

Achenbach,

Henry

Roller, H. W.
Ross.

Hahn, John

Beatenhead,

Clair

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $231,786.62
Overdrafts _____________________________
46.48.
United States Government obligations,
direct and guaranteed________________
40,213.20
Other bonds, stocks, and securities____
11,111.25
1,900.00
Banking house _________________________
Furniture and fixtures __________________
1,050.00
Cash, balances with other banks, and
cash items in process of collection____
154,446.39
Other assets _______
1,030.83

Total _______________________________

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Dividends declared but not yet payable_
Other liabilities ________ ________________
Capital account:
First preferred stock _________________
Common stock _______________________
Surplus ----------------------------------------------Undivided profits _____________________
Preferred stock retirement fund_______
Total _______________________________

$441,584.77

$78,747.45
301,333.01
16,575.62
2,091.15
150.00
86.12
10,000.00
30,000.00
1,000.00
1,001.42
600.00
$441,584.77

NO. 787.
THE STATE BANK OF VASSAR, VASSAR.
Organized December 11, 1933.
G eorge C. L o s s , P r e s i d e n t ; H ow ar d W. S m i t h , V i c e P r e s i d e n t ; L e w i s W a l t o n , V ic e
P r e s i d e n t a n d C a s h i e r ; F r a n k B. T in g l a n , A s s i s t a n t C a s h ie r .
D ir e c t o r s , — Clarence

J. Deedrick, George C. Loss, E arl H. Miller, Henry W. Owen,
Truman J. Sanford, Howard W. Smith, Frank B. Tinglan, Lewis W alton, Joseph S.
Wells.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $137,816.30
Overdrafts _____________________________
49.68
United States Government obligations,
direct and guaranteed _______________
57,500.00
Other bonds, stocks, and securities_____
115,847.05
Reserve with Federal Reserve Bank_____
29,043.67
Cash, balances with other banks, and
cash items in process of collection____
79,680.55

Demand deposits of individuals, partner­
ships, and corporations ______________ $113,240.39
Time deposits of individuals, partnerships,
and corporations _______
239,862.08
State, county, and municipal deposits___
28,008.22
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
2,082.06
Capital account:
Common stock _______________________
25,000.00
Surplus ______________________________
8,000.00
Undivided profits _____________________
3,744.50

Total ______________ ________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$419.937.25

Total ------------------------------------------------ $419 937.25

STATE BANKS OF M ICHIGAN

221

No. 377.
THE B A RBE R

STATE BANK

OF VERM ONTVILLE, M ICHIGAN.

Organized August 14, 1907.
E dw ar d D. B a r b e r , P r e s i d e n t ; F o r r e st E. W il s o n , V i c e P r e s i d e n t ; C h a s . A . S t i l e s ,
C a s h i e r ; F r a n c e s M. K roger , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— E d w a r d

D.

B a rb er,

N e d B . A l s o v e r , P h il ip
F o r r e s t E . W ils o n .

H.

B a rb er,

C h a r le s

A.

S t ile s ,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________ ________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed________ a______
Other bonds, stocks, and securities_____
Banking house ________________________
Furniture and fixtures
_______________
Real estate owned other than banking
house ________________________________
Cash, balances with other banks, and
cash items in processof collection_____
Other assets ___________________________

$74,568.77
7.29

129,621.27
194.37

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
First preferred stock _________________
Common stock _______________________
Undivided profits _____________________

Total ------------------------------------------------ $409,261.95

Total _______________________________

42,480.00
158,225.25
1,000.00
1,400.00
1,765.00

$58,870.52
291,316.72
11,600.15
124.27
20,000.00
25,000.00
2,350.29
$409,261.95

No. 693.
TH E VERNON STATE BANK, VERNON.
Organized March 13, 1922.
P. S t r a u c h , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; C h a s . R . P ainei, W m . J . M c­
C u l l o u g h , V i c e P r e s i d e n t s ; F r a n k S. H a r d y , C a s h i e r ; H a r l e y M. E a r l , R . W .
K o e p e l e , A s s i s t a n t C a s h ie r s .

W.

D ir e c t o r s .— W .

P.

S tra u ch ,

C h a r le s R . P a in e , W m .
T h e o d o re S tra u ch .

J.

M c C u llo u g h ,

F ran k

S.

H ardy,

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $366,589.26
Overdrafts _____________________________
20.59
United States Government obligations,
direct and guaranteed _______________
52,275.00
Other bonds, stocks, and securities_____
655.00
Banking house _________________________
1,000.00
Furniture and fixtures _________________
500.00
Real estate owned other than banking
house _________________________________
3,050.90
Cash, balances with other banks, and
cash items in process of collection____
77,354.66

Total ------------------------------------------------ $501,445.41


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _______________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
Surplus ----------------------------------------------Undivided profits --------------------------------Reserve for contingencies_____________

$64,633.30
336,970.18
21,991.54
5,024.38
20,000.00
35,000.00
15,326.01
2,500.00

Total ------------------------------------------------ $501,445.41

222

STATE BANKING D EPARTM ENT
No. 401.
THE COMMUNITY BANK, W ARREN.
Organized May 26, 1908.
Branch in Centerline, Michigan.

G eorge A . H o dson , C h a ir m a n o f t h e B o a r d ; H e r ber t A . S c h m id t , P r e s i d e n t ; J o h n A .
R i n k e , V i c e P r e s i d e n t ; H e r ber t A . S c h m id t , C a s h i e r ; W a l t e r C. R ic k a b u s , G. A .
P e r s s o n , J r ., A s s i s t a n t C a s h i e r s ; T h o m a s B . S m i t h , B r a n c h M a n a g e r .
D ir e c t o r s .— H e r b e r t

A . S c h m id t , W m . L . H a r t s i g , H e n r y H a lm ic h , J o h n A . R in k e ,
G e o . A . W e ie r , R o b e r t F . B a r ie , G e o . A . H o d s o n , R u s s e ll E . L y n c h , L o u is E . B u s c h .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $313,961.35
O v e rd ra fts ____________________________
61.39
United States Government obligations,
direct and guaranteed _______________
82,551.16
Other bonds, stocks, and securities_____
162,353.51
15,000.00
Banking house _________________________
Furniture and fixtures _________________
6,653.32
Cash, balances with other banks, and
cash items in processof collection_____
211,785.76
Other assets____________________________
1,240.40

Demand deposits of individuals, partner­
ships, and corporations_______________ $129,754.16
Time deposits of individuals, partnerships,
and corporations ________________________ 458,394.89
State, county, and municipal deposits___
135,102.99
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ cheeks outstanding_____
13,790.43
Capital account:
Common stock _______________________
50,000.00
6,000.00
Undivided profits ____________________
Reserve for contingencies_____________
564.42

Total _______________________________

$793,606.89

Total _______________________________

$793,606.89

No. 284.
THE W AY LAN D STATE BANK, W AYLAND.
Organized January 1, 1904.
M ack

S h o r t , P r e s i d e n t ; A . E. W e a v e r , V i c e P r e s i d e n t ; J o h n W . B a r t o n , C a s h i e r ;
F r a n k L. C h a c h o r s k i , E r n e s t in e L. K o e h l e r , A s s i s t a n t C a s h ie r s -

D ir e c t o r s .-— A. E. W eav er, F en ton

S e b r ig h t ,

H a rry H a y w o o d , C. C. M c C l in t o c k , M a c k

S h ort.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $124,141.84
United States Government obligations,
direct and guaranteed ________________
55,977.67
Other bonds, stocks, and securities_____
61,279.11
Banking house _________________________
6,000.00
Furniture and fixtures _________________
950.00
Cash, balances with other banks, and
cash items in process of collection____
106,861.64

Demand deposits of individuals, partner­
ships, and corporations _______________ $109,514.06
Time deposits of individuals, partnerships,
and corporations _____________________
187,533.52
State, county, and municipal deposits___
23,926.08
United States Government and postal
savings deposits __________________
2.20
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
9,234.40
Capital account:
Common stock _______________________
25,000.00

Total ____________ ___________________ $355,210.26


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______________________________

$355,210.26

STATE BANKS OF M ICHIGAN

223

No. 783.
THE W AYNE STATE BANK, WAYNE.
Organized December 18, 1933.
T homas

F.

L it t l e ,

P r e s id e n t;

Mantous

Uht,

V ic e

P r e s id e n t;

J ohn

B.

V allance,

C a s h ie r .

D ir e c t o r s .— M a n t o u s

U h t,

T h om as
John

E.

F.

L i t t le ,

V a lla n c e ,

H ow ard
G.

C.

B a ld w i n ,

H a r le y

M.

S m it h ,

L i t t le .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $418,159.78
Overdrafts ______________________________
25.90
United States Government obligations,
direct and guaranteed________________
101,897.08
Other bonds, stocks, and securities_____ 437,419.69
Furniture and fixtures _________________
3,920.27
85,949.06
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
271,325.54

Demand deposits of individuals, partner­
ships, and corporations_______________ $335,166.46
Time deposits of individuals, partnerships,
and corporations ____________________
646,370.40
196,477.67
State, county, andmunicipal deposits____
United States Government and postal
savings deposits ______________________
15,184.65
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding______
21,232.77
Other liabilities ________________________
157.77
Capital account:
Common stock _______________________
50,000.00
50,000.00
Surplus ________________
Undivided profits _____________________
4,107.60

Total ------------------------------------------------$1,318,697.32

Total ------------------------------------------------ $1,318,697.32

No. 415.
THE FAR M E RS STATE BANK OF W E B B E R Y IL LE , W EB BER VILLE .
Organized December 23, 1908.
J a m e s F r a s e r , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; J a m e s D u n n , V i c e P r e s i d e n t ;
C h a r l e s G . C ool , C a s h i e r ; L eroy D e f o r s , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— J a m e s

D unn,

J a m e s F r a s e r , H . L . C a tlin , A v o n
G e o r g e D u n n , A n a n O . A l l c h in .

Jack son ,

C h a r le s

C o o l,

Statement December 31, 1938.
ASSETS
Loans and discounts ___________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures___________________
Cash, balances with other banks, and
cash items in process of collection____

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
$64,849.36
15,200.00
81,577.42
1,750.00
400.00
37,479.42

$201,256.20

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Undivided p ro fits _______

$50,850.52
105,858.96
14,266.72
2,840.09
25,000.00
2,439.91

T o t a l ----- ------------------------- ---------------- $201,256.20

STATE BANKING DEPARTM EN T

224

No. 733.
TH E STATE SAYINGS BANK OF W EST BRANCH, W E ST BRANCH.
Organized December 26, 1926.
W.

A.

C r a n d e l l , P re s id e n t; H . W . S c h u l t y , Vice P re s id e n t; F . E . C oope r , C ashier;
W . L . S in g l e t o n , F . L . D e a n , Assistan t Cashiers.

D ir e c t o r s .— W . A . C r a n d e ll, D . E . T o l f r e e , H . W . S c h u lt y , E lm e r G . S t e u e r n o l, H a r r i s o n
D odds,

E.

H.

M cG ow an .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $173,583.46
Overdrafts ____________________________ 39.46
United States Government obligations,
direct and guaranteed ________________
125,125.00
Other bonds, stocks, andsecurities______
163,850.25
Banking house _________________________
9,100.00
Furniture and fixtures _________________
1,000.00
Cash, balances with other banks, and
cash items in process of collection_____
121,599.89

Demand deposits of individuals, partner­
ships, and corporations_______________ $168,697.71
Time deposits of individuals, partnerships,
and corporations _____________________
280,151.93
State, county, and municipal deposits----74,755.49
United States Government and postal
savings deposits ----------------------------------6,270.28
Capital account:
First preferred stock _________________
19,900.00
20,000.00
Common s to c k -------------- .»--------------------Surplus ______________________________
10,100.00
Undivided profits --------------------------------6,722.65
Reserve for contingencies_____________
2,000.00
5,700.00
Preferred stock retirement fund----------

Total _______________________________

Total _______________________________

$594,298.06

$594,298.06

No. 382.
THE W E S T P H A L IA STATE BANK, W ESTPH ALIA .
Organized October 16, 1907.
.Jo h n

B.

S p i t z i .e y ,

Presid en t;

L o u is

J. W ie b e k ,
Cashier.

V ice

D ir e c t o r s .— J o h n B . S p i t z le y , L o u is J. W ie b e r , W illia m
P.

P re s id e n t ;

R o ber t

B o h r , W i ll ia m

F.

B ohr,

H . Y ou n g, John

T r ie r w e i l e r .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $117,096.49
Overdrafts
______________________
16.06
United States Government obligations,
direct and guaranteed ____________________ 21,987.50
Other bonds, stocks, and securities_____
36,278.70
Banking house _________________________
1,500.00
Furniture and fixtures________________
1,035.00
Cash, balances with other banks, and
cash items in process of collection____
20,505.89

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$198,419.64

Demand deposits of individuals, partner­
ships, and corporations ________
Time deposits of individuals, partnerships,
and corporations _____________________
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding -----Bills payable, rediscounts, and other li­
abilities for borrowed money__________
Other liabilities ________________________
Capital account:
Common stock _______________________
Undivided profits --------------------------------Total _______________________________

$23,553.53
101,091.23
36,222.85
240.27
7,000.00
4,018.19
25,000.00
1,293.57
$198,419.64

225

STATE BANKS OF MICHIGAN
No. 455.
THE FIR ST STATE BANK, W H IT E CLOUD, M ICHIGAN.
Organized .Time 1, 1910.

J a m e s J. T e r vville ga r , P r e s i d e n t ; G eo . W . S h e p h e r d , V i c e P r e s i d e n t ; M ary A. G a n n o n ,
C a s h i e r ; II. J. G u s t i n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— A .

Q.

A d am s,

C o r n e liu s

G erb er.

Jam es

J.

T e r w il l e g a r ,

M a r y A . G a n n o n , H . J. G u s tin , M a r io n

G eo.

W.

S h ep h erd,

N . B ir d .

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________
Overdrafts --------------------------------------------United States Government obligations,
direct and guaranteed ------------------------Other bonds, stocks, and securities-----Banking house _________________________
Furniture and fixtures__________________
Cash, balances with other banks, and
cash items in process of collection____

$98,492.64
29.99

Total _______________________________

$290,236.01

30,170.09
70,882.61
2,500.00
1,200.00
86,960.68

Demand deposits of individuals, partner­
ships, and corporations ________ 1— — $48,392.43
Time deposits of individuals, partnerships,
and corporations -----------116,466.12
State, county, and municipal deposits — 90,725.15
United States Government and postal
353.32
savings deposits --------------------------Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding
—
2.00
Capital account:
Common stock _______________________
25,000.00
Surplus _______ ,---------------------------------8,000.00
Undivided profits _____________________
1,296.99
Total _______________________________

$290,236.01

No. 250.
THE STATE BANK OF W H ITE H A LL, W H ITE H A LL.
Organized December 16, 1901.
G eorge B. C o v e l l , P r e s i d e n t ; G uy S. C o v e l l , V ic e P r e s i d e n t ; J o s e p h O c o b o c k , C a s h i e r ;
F.
E . L e ig h t o n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— G e o r g e E . C o v e ll, G u y S. C o v e ll, J o s e p h O c o b o c k , E m e lin e W . C o v e ll, L . II.
R a d c li f fe , M a r k B . C o v e ll.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $202,936.12
Overdrafts ________________
124.34
United States Government obligations,
direct and guaranteed _______________
93,975.00
Other bonds, stocks, and securities_____
168,534.78
Banking house
--------8,500.00
Furniture and fixtures _________________
2,000.00
Reserve with Federal Reserve bank_____
38,901.10
Cash, balances with other banks, and
cash items in process of collection----64,977.37

Demand deposits of individuals, partner­
ships, and corporations ----------------------- $124,431.60
Time deposits of individuals, partnerships,
and corporations ____
365,175.59
State, county, and municipal deposits _
37,219.61
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding
661.51
Capital account:
Common stock ___________________
40,000.00
Undivided profits _____________________
15,582.89

Other assets___________
Total

______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

3,122.49
$583,071.20

Total

_____________________ —_______

$583,071.20

226

STATE BANKING DEPARTM EN T
No. 438.
PEOPLES STATE BANK, W ILLIAM STON.
Organized July 27, 1909.

G eo . L. B i s h o p , P r e s i d e n t ; L. D. B is s e l l , E x e c u t i v e V i c e P r e s i d e n t ;
V ic e P r e s i d e n t ; G. B. J a c k s o n , C a s h ie r .

C. A . G o r s l in e ,

D ir e c t o r s .— G eo . L . B is h o p , W . S. B a r r e t t , L . D . B is s e ll, A . E . P o l l , W . R . G o r s lin e ,
John

F.

K ru m b eck ,

O.

S.

H en dren ,

C.

A.

G o r s lin e ,

G.

B.

Jackson .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $271,740.68
Overdrafts ______________________________
* 107.54
United States Government obligations,
direct and guaranteed ________________
216,805.31
Other bonds, stocks, andsecurities______
157,098.28
Banking house __________________ _______
6,500.00
3,800.00
Furniture and fixtures__________________
Real estate owned other than banking
house -------------------------------------------------19,204.43
Reserve with Federal Reserve Bank_____
63,770.08
Cash, balances with other banks, and
cash items in process of collection____
43,077.13
Cash items not in process of collection..
138.97-

Demand deposits of individuals, partner­
ships, and corporations ______________ $183,466.67
Time deposits of individuals, partnerships,
and corporations _____________________
457,954.62
State, county, and municipal deposits____
27,516.71
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
7,513.67
Capital account:
First preferred stock _________________
9,000.00
Common stock _______________________
74,000.00
Surplus ----------------------------------------------3,000.00
Undivided profits _____________________
4,567.87
Reserve for contingencies_____________
14,222.88
Preferred stock retirement fund_______
1,000.00

Total -------- --------------------------------------- $782,242.42

Total _______________________________

$782,242.42

No. 64.
W YAND O TTE SAYINGS BANK, W YANDOTTE.
Organized November 20, 1871.
Tw o Branches.
F red E. V a n A l s t y n e , P r e s i d e n t ; A . C. M i l n e , E x e c u t i v e V i c e P r e s i d e n t ; S id n e y T .
M il l e r , J o h n C. C a h a l a n , V i c e P r e s i d e n t s ; F r a n k W . T u c k e r , V i c e P r e s i d e n t a n d
C a s h i e r ; T om K . T a y l o r , H . C. S ch r o e d e r , A s s i s t a n t C a s h i e r s ; E a r l E . S t ie l e r ,
F . E . H e n ig , A s s i s t a n t V i c e P r e s i d e n t s ; P h i l l i p Z a s a d n y , A u d i t o r .
D ir e c t o r s .— F r e d E. V a n A l s t y n e , S id n e y T. M ille r , J o h n C. C a h a la n , W . L eo C a h a la n ,
S t e p h e n T . O rr, R i c h a r d J. L y n c h , F r a n c i s B . G riffith , J o s e p h

M. D odge.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___ I_________________ $2,755,141.83
Demand deposits of individuals, partnerOverdrafts _________________ ____________
474.96
ships, and corporations ______________ $1,360,818.80
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed _______ ._______ 1,300,842.75
and corporations _____________________ 6,381,167.54
Other bonds, stocks, and securities_____ 3,740,552.98
State, county, and municipal deposits_______________ 935,514.29
Banking house __________________ ,______
219,468.87
Deposits of other banks, certified and
Furniture and fixtures _________________
31,855.56
cashier’s checks, cash letters of credit
Real estate owned other than banking
and travelers’ checks outstanding_________________ 47,482.63
house --------------222,693.30
41,843.44
Other liabilities _____ ,___ _____________
Reserve with Federal Reserve Bank_________________ 689,259.57
Capital account:
Cash, balances with other banks, and
First preferred s t o c k _______
490,000.00
cash items in process of collection________________ 911,677.28
Common s t o c k __ _____________________
400,000.00
Surplus ------------------------- „ „ ------------------110,000.00
Undivided p ro fits _______________
93,520.14
Reserve for contingencies_____________
2,901.51
Preferred stock retirement fund_______
8,718.75
Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.$9,871,967.10

Total ------------------------------------------------ $9,871,967.10

227

STATE BANKS OF M ICHIGAN
No. 227.
YALE STATE BANK, YALE.
Organized December 28, 1901.

W il l ia m G. W ig h t , Pre sid e n t; G u y M. R o w e l l , Vice Pre sid e n t; G uy E. B eard , C ashier;
N eva M. F e r g u so n , B u r n e l l B . M id d l e t o n , A ssistan t Cashiers.
D ir e c t o r s .— W i ll ia m

G.

W ig h t,

G uy E . B ea rd , G uy
F . B u r n e ll W i g h t .

M.

R o w e ll,

E lis a b e t h

M.

W ig h t,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $134,202.54
O verdrafts______________________________
109.88
United States Government obligations,
direct and guaranteed________________
88,693.13
Other bonds, stocks, and securities_____
113,375.68
Banking house ____________________ —___
3,300.00
1,000.00
Furniture and fixtures ______ :---------------Reserve with Federal Reserve Bank_____
88,535.52
Cash, balances with other banks, and
cash items in process of collection____
59,461.72
Other assets ___ :_______________________
6,696.00

Demand deposits of individuals, partner­
ships, and corporations ______________ $157,938.74
Time deposits of individuals, partnerships,
and corporations _____________________
242,731.50
State, county, and municipal deposits___
55,804.34
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
3,594.01
and travelers’ checks outstanding____
Capital account:
Common stock _______________________
25,000.00
5,000.00
Surplus ______________________________
Undivided profits _____________________
5,305.88

T o t a l ___ ____________ .______________

Total _______________________________

$495,374.47

$495,374.47

No. 86.
THE Y P SILA N TI SAYINGS BANK, Y PSILA N TI.
Organized April 30, 1887.
J o h n P. K i r k , Pre sid e n t; S. A rn old W ia r d , Vice P re sid e n t; M a x E . W
R o s s R . H a l l , G. E. G r o o se e c k , A ssistan t Cashiers.
D ir e c t o r s .— J o h n P. K ir k , O. A. H a n k in s o n , S. A r n o l d
F e r g u s o n , J . W . T a ll a d a y ,

W ia r d ,
H . A . Tape.

il l ia m s ,

M a th ew

C ashier;

S in k u le ,

E. E.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1 ,002,312.69
287.62
Overdrafts _____________________________
United States Government obligations,
403,515.33
direct and guaranteed ________________
500,054.41
Other bonds, stocks, and securities_____
Banking house _______________ _______,__
52,500.00
6,247.94
Furniture and fixtures _______ _________
Real estate owned other than banking
house ________________________________
56,832.25
Cash, balances with other banks, and
477,080.89
cash items in process of collection____

Demand deposits of individuals, partner­
ships, and corporations_______________ $550,098.50
Time deposits of individuals, partnerships,
and corporations _____________________ 1,238,558.33
State, county, and municipal deposits___ 303,005.09
United States Government and postal
savings deposits ______________________
72,796.66
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10,042.01
Capital account:
First preferred stock _________________
200,000.00
Common s to c k ________________________
100,000.00
Undivided profits _____________________
12,794.78
Reserve for contingencies_____________
11,535.76

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,498,831.13

Total

$2,498,831.13

228

STATE BANKING D EPARTM ENT
No. 307.
STATE COMMERCIAL & SAVINGS BANK OF ZEELAND, MICHIGAN.
Organized February 13, 1905.
J ohn

W ic h e e s , P r e s i d e n t

and

V ic e

P r e s id e n t;

F red

P.

K ie e t ,

D ir e c t o r s .— J ohn W i c h e r s ,

H e r b e r t V a n E e n e n a a m , L. G. S t a llk a m p ,
P . F . V e r p la n k , F r e d P . K i e f t , A . V a n K o e v e r in g .

D.

C a s h ie r .

E.

S m a lle g a n ,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $239,627.12
United States Government obligations,
direct and guaranteed ________________
53,567.19
83,479.80
Other bonds, stocks, and securities_____
Banking house _______________
10,385.00
Furniture and fixtures _________________
4,250.00
Real estate owned other than banking
house ____
5,000.00
Cash, balances with other banks, and
cash items in process of collection___
294,156.47
Other assets ___________________________
333.32

Demand deposits of individuals, partner­
$303,387.15
ships, and corporations ____
Time deposits of individuals, partnerships,
286,921.42
and corporations _____
State, county, and municipal deposits
44,419.28
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
12,072.79
Capital account:
Common stock _______________________
35,850.00
7,500.00
Surplus _________________________
Undivided p r o f i t s _______________
238.26
Reserve for contingencies _____________
400.00

Total _______________________________

$690,788.90

Total _______________________________

$690,788.90

No. 226.
ZEELAND STATE BANK. ZEELAND.
Organized December 3, 1900.
J.

D e n H e r d e r , C h a ir m a n o f t h e B o a r d ; E d w a r d M . D e n H er de r , P r e s i d e n t ; A . ( ’ .
V a n d e n B o s c h , E x e c u t i v e V i c e P r e s i d e n t a n d C a s h i e r ; H e r m a n M il l e r , H e n r y B a r o n ,
V ic e P r e s i d e n t s ; W m . D. V a n L oo, A s s i s t a n t C a s h ie r .
H.

D ir e c t o r s .— H e n r y

B a ron ,

J. H . D e n H e r d e r , D a v id D e B r u y n ,
V a n d en B osch . E. M. D en H erder.

H erm an

M ille r ,

A.

C.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ____ _________ .
$1,036,771.53
Overdrafts ____________
53.17
United States Government obligations,
direct and guaranteed _______________
228,897.67
Other bonds, stocks, and securities
__ 479,038.44
Banking house ________________________
29,000.00
Furniture and fixtures _________ ____ __
3,856.14
Real estate owned other than banking
house __________
3,000.00
Reserve with Federal Reserve Bank_____
421,583.22
Cash, balances with other banks, and
cash items in process of collection
223,982.63
Other assets ___________________________
10,888.57

Demand deposits of individuals, partner­
ships, and corporations ______________
445,263.45
Time deposits of individuals, partnerships,
and corporations ___________
1,682,509.14
State, county, and municipal deposits—
67,959.89
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
17,849.56
and travelers’ checks outstanding_____
Other liabilities __________________ '_____
10,888.57
Capital account:
Common stock _________________
100,000.00
Surplus ______________________________
100,000.00
Undivided profits ____________________
12,600.76

Total _ ____________________________ $2,437,071.37


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______________________________ $2,437,071.37

STATE BANKS OF MICHIGAN

229

TABLE No. 36— Abstract of reports of condition of Credit Unions at December 31,
1937 and December 31, 1938.

A ssets

R e p o rt of
12-31-38

R e p o rt of
12-31-37

$ 1 0 8,03 1
2 ,8 0 6 ,9 5 8
6 ,2 1 0
1 5 8 ,5 4 6
1 5 3 ,6 4 0
5 6 ,9 8 9

03
43
67
38
19
94

$ 3 ,2 9 0 ,3 7 6 64

$ 2 4 6 ,9 7 4
3 ,5 7 6 ,4 0 7
9 ,0 4 3
5 8 1 ,6 1 4
201 ,4 3 3
1 8 ,6 0 4

13
46
01
95
48
21

$ 4 ,6 3 4 ,0 7 7 24

Liabilities
$44 0 ,6 8 6
2 ,5 4 0 ,5 3 0
8 0 ,9 9 0
8 9 ,1 1 6
1 17 ,988
8 ,7 4 0
12,323

41
71
04
86
08
74
80

$ 3 ,2 9 0 ,3 7 6 64

M em ora n d a:
N u m b er of m em b ers..................................................................................................


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

A t 12-31-37
137
3 0 ,5 1 0
4 ,4 2 3
15,711

$52 9,94 1
3 ,7 1 1 ,4 4 8
5 7 ,6 8 2
1 16 ,324
163,865
1 6 ,3 9 9
3 8 ,4 1 5

59
65
18
60
14
69
39

$ 4 ,6 3 4 ,0 7 7 24

A t 12-31-38
139
3 6 ,3 5 8
4 ,8 4 8
2 0 ,0 9 3


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

TABLE NO. 37

ABSTR A C T OF REPO RTS
OF

199 SM ALL LOAN LICENSEES
AS MADE TO THE COMMISSIONER OF THE STATE BANKING DEPARTM ENT


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

DECEMBER 31, 1938


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

233

SMALL LOAN LICENSEES

Abstract of Annual Reports of 199 Small Loan Licensees at
December 31, 1938
A. Balance Sheet
ASSETS
Cash in office and in banks...........................................................................................................
Loans receivable................................................. ...........................................................................
Real estate (Less reserve for depreciation— buildings)
..................................................
Furniture, fixtures and equipment (less reserve for depreciation)............................................
Deferred charges................................................................................ ...................................... ... •
Other Assets:
(a) Organization or development expense. . ...........................................................................
(b) Cost of financing..................................................................................................................
(c) Miscellaneous....................................................................... ................................................

$1,530,862
20,746,292
181,336
200,169
43,649

18
61
31
80
90

90,481 86
114,556 08
959,321 87

Total Assets....................................................................................................................
All assets not used in small loan business...................................................................................

$23,866,670 61
5,139,237 46

Total All Assets............................................................................. '...............................

$29,005,908 07

LIABILITIES AND CAPITAL
A ccou n ts and notes p aya ble:
(a) B a n k s...............................................................................................................................................................
(b) D u e t o parent co m p a n y or a ffilia te s .................................................................................................
(c) O ther short term notes an d a c c o u n ts ...........................................
B o n d s ............................................................................................................................................................
O th er Liabilities:
(a) A ccru ed expen ses........................................................
(b ) M iscella n eou s...............................................................................................................................................
R eserves:
(a) E xpense reserve for bad d e b t s ......................................................... ....................................................
(b) R eserve fo r purchased accou n ts (face value less purchase p r ic e ) ...........................................
(c) R eserve fo r licenses and t a x e s ...............................................................................................................
(d) O ther reserv es............................
B ranch office c a p it a l..............................................................................................................................................
N et w orth (if individ ual or p a rtn e rsh ip )......................................................................................................
C apital s t o c k : (if corp oration )
(a) P referred .........................................................................................................................................................
(b) C o m m o n .........................................................................................................................................................
A p p rop ria ted surplus or capital re se rv e s......................................................................................................
Surplus (including u n d ivided p r o fits ).............................................................................................................

Total Liabilities and Capital.........................................................................................


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 1 ,5 2 5 ,6 8 8
4 ,8 4 5 ,7 5 8
1 ,8 4 3 ,5 7 7
3 5 6 ,6 2 3

07
71
12
60

2 4 ,1 8 0 15
2 2 5 ,9 3 0 94
4 78 ,871 78
11956
127,841 32
6 7 3 ,9 5 3 88
1 0 ,1 9 1 ,6 6 8 96
2 ,2 9 6 ,3 8 4 14
1 ,4 4 0 ,4 4 8
3 ,3 5 9 ,9 5 2
100 ,005
1 ,5 1 4 ,9 0 3

90
08
32
54

$29,005,908 07

234
B.

STATE BANKING D EPARTM ENT
Statement of Income and Expense for the Year Ended December 31, 1938

Gross Income derived from Small Loan Business:
Charges on loans of $300.00 and less.........................................................
Fees on loans of $300.00 and less...............................................................
Interest on bank balances...........................................................................
Collections on accounts previously charged off........................................
Other income derived from small loan business.......................................

$6,605,591
528
5,989
88 *165
9,222

43
28
39
81
20

Total Gross Income Derived from Small Loan Business............................................
Expenses of Conducting Small Loan Business:
Advertising...................................................................................................
Auditing........................................................................................................
Bad debts, or reserve for bad debts..........................................................
Depreciation of furniture, fixtures and equipment...................................
Expense, sundry...........................................................................................
Insurance and fidelity bonds......................................................................
Legal fees and disbursements.....................................................................
Postage and express.....................................................................................
Printing, stationery and supplies...............................................................
Rent..............................................................................................................
Salaries.........................................................................................................
Supervision and administration (when not allocated to other items) . .
Taxes:
(a) Licenses and license tax....................................................................
(b) State and local taxes.........................................................................
(c) Federal taxes......................................................................................
Telephone and telegraph.............................................................................
Travel...........................................................................................................
Other expenses of conducting Small Loan business:
(a) Recording and acknowledging fees (when paid by licensee).........
(b) Miscellaneous.....................................................................................

$6,709,497 11

$366,557 62
55,828 77
596,299 17
43,030 63
118,612 42
40,005 71
76^520 45
64’ 296 05
68,797 64
222,968 86
1,535,332 13
174,360 97
25,257
111,128
434,230
79,969
132,234

74
62
79
79
67

6,436 65
170,408 44

Total Expenses and Losses of Conducting Small Loan Business
(Not Including Interest on Borrowed Funds).............................

4,322,277 12

Net Earnings Derived from Small Loan Business for the Period
(Before deducting interest on borrowed funds)..........................

$2,387,219 99

MEMORANDA
Gross earnings from sources outside Small Loan Business.........................
Expenses incurred in operations outside Small Loan Business................... .

$835,580 59
643,017 64

Net Earnings Outside Small Loan Business...................................

$192,562 95

Interest paid......................................................................................................
Amortization.................................................................................................... .

$700,110 17
77,969 14

C.
Analysis of Assets Used and Useful in Small Loan Business
Which May or May Not Appear on Books, as at December 31, 1938
A S S E T S U S E D A N D U S E F U L IN S M A L L L O A N B U S IN E S S :
L oans receiva ble (less reserves fo r bad debts and purchased a c c o u n t s ).....................................
Furniture, fixtures and equ ipm en t (less reserve fo r d e p r e c ia tio n ).................................................
R eal estate (less reserve fo r d epreciation— b u ild in g s )........................................................................
W ork in g C a pital:
(a) P repaid expense proh ibited fro m co lle ctio n a t tim e loan is m a d e .....................................
(b ) Cash in office and in b a n k s .............................................................................................................
(c) A cco u n ts re c e iv a b le ...............................................................................................................................
(d) H om e office assets ap p ortion ed t o bran ch w hen n o t allocated a m on g oth er item s in
this s e c t io n ...........................................................................................................................................
(e) D eferred charges, such as prepaid insurance prem ium s, license taxes, and bon d
p rem iu m s.............................................................................................................................................
(f) M iscella n eou s..........................................................................................................................................
G oin g C on cern V a lu e:
(a) Initial cost o f establishm ent o f office (survey and expense o f d evelop m en t p e r io d ). .
(b) C ost o f financing (present c o s t o f funds fo r assets used and useful in sm all loan
b u s in e s s )...............................................................................................................................................
(c) O th e r ...........................................................................................................................................................

$ 2 0 ,2 6 7 ,3 0 1 27
2 0 0 ,1 6 9 80
1 8 1 ,3 3 6 31
1 7 2 ,8 5 0 97

1 ,5 3 0 ,8 6 2 18
’ 2 7 1518 20
1 ,1 2 1 ,5 6 3 82
4 0 ,5 9 3 44
3 4 4 ,5 9 3 64
1 75 ,353 71
9 0 7 ,1 5 3 09
2 5 ,8 7 6 05

Total Assets Used and Useful in Small Loan Business...............................................

$24,995,172 48

Average for 1938 of total assets used and useful in the Small Loan Business.....................
Percent of net earnings derived from small loan business before deducting interest paid on
borrowed funds.......................................................................................................................

$26,975,161 19


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

8.85%

235

SMALL LOAN LICENSEES
D.

Analysis of Charges on Loans

Interest o r charges earned during the period fro m Sm all L oa n B u siness.......................................
Interest or charges collected during th e p e r io d ..........................................................................................

$ 6 ,9 7 6 ,8 5 8 16
6 ,6 0 5 ,5 9 1 43

Interest o r charges earned b u t n o t c o ll e c t e d ..............................................................................................

$ 3 7 1 ,2 6 6 73

P ercentage o f interest or charges c o lle c t e d ..................................................................................................
A v era ge am ou n t o f ou tstan din g lo a n s ...........................................................................................................
A c tu a l m on th ly rate c o lle c t e d ..........................................................................................................................
T o ta l gross earnings derived fro m Sm all L oa n B u siness........................................................................
Assets used and useful in Sm all L o a n B u siness............. . .................._......................................................
P ercen t gross earnings o f to ta l assets used and useful in th e b u sin ess.............................................

9 4 .6 7 %
$ 2 1 ,3 2 6 ,9 6 3 84
2 .5 8 %
6 ,7 0 9 ,4 9 7 11
2 6 ,9 7 5 ,1 6 1 19
2 4 .8 7 %

E.

Analysis of Expense Per Account Loans of $300.00 or Less
$ 4 ,3 2 2 ,2 7 7 12
1 9 2 ,7 6 8
22 42
1 87

T o ta l expenses o f con d u ctin g Sm all L oa n Business
A v era ge n u m ber o f op en a c c o u n t s ................................
A n n u al expense per a c c o u n t ...........................................
M o n th ly expense per a c c o u n t ........................................

F. Analysis of Loans by Size
Number Percent
of
of
Total
Acc’ts.

$22,054,151 22

Total loan balances outstanding at beginning of year 191,451

Loans made during the year:
(a) Loans of $25.00 or less.....................................
(b) Loans of $25.01 to $50.00....... .........................
(c) Loans of $50.01 to $100.00..............................
(d) Loans of $100.01 to $150.00............................
(e) Loans of $150.01 to $200.00.............................
(f) Loans of $200.01 to $300.00............................

9,355
30,800
60,016
40,397
36,938
49,184

4.12
13.58
26.46
17.81
16.28
21.68

(g) Total Loans of $300.00 or Less....................... 2 2 6 ,6 9 0
145
(h) Loans of over $300.00......................................
(i) Total of Loans.................................................. 226 ,835
Loan
(a)
(b)
(c)
(d)
(e)
(f)

balances outstanding at end of year:
Loan balances of $50.00 or less................... ...
Loan balances of $50.01 to $100.00................
Loan balances of $100.01 to $150.00..............
Loan balances of $150.01 to $200.00..............
Loan balances of $200.01 to $300.00...............
Loan balances over $300.00.............................

$17
43
83
131
182
271

9 9 .9 3
.07

$ 3 1 ,9 1 7 ,0 1 5 34
9 9 ,4 0 5 18

9 9 .6 9
.31

140 79
685 55

1 0 0 .0 0

$ 3 2 ,0 1 6 ,4 2 0 52

1 0 0 .0 0

1 4 1 .1 4

(g) Total of all Loan Balances from Loans.......... 194,085

1 0 0 .0 0


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

4 ,7 8 5
603
5 ,6 0 9

$115 19

.52
4.22
15.69
16.54
21.06
41.66

2 7 .7 5
2 8 .2 3
18.03
12.33
13.5 9
.07

$165,365
1,349,153
5,024,662
5,296,207
6,743,555
13,338,071

Average
Dollars

16
69
54
08
53
34

5 3 ,8 6 8
5 4 ,7 9 3
3 4 ,9 9 4
2 3 ,9 2 7
2 6 ,3 7 3
130

Loan balances purchased during the year................
Loan balances sold during the year..........................
Loan balances charged off during the year..............

Percent
of
Total

Amount

$ 1 ,6 1 1 ,0 1 5
4 ,0 8 6 ,2 3 1
4 ,3 2 9 ,7 6 5
4 ,1 5 3 ,5 2 2
6 ,5 0 4 ,2 7 9
6 1 ,4 7 7

10
63
74
61
82
71

7 .7 7
1 9 .7 0
2 0 .8 7
2 0 .0 2
3 1 .3 5
.29

$ 2 0 ,7 4 6 ,2 9 2 61

100 .0 0

$52 6 ,1 4 2 76
7 2 ,4 2 5 66
4 7 0 ,1 9 8 07

29
74
123
173
246
472

64
80
72
10
56
18

91
57
73
58
65
91

106 89
109 95
120 11
83 83

236

STATE BANKING DEPARTM EN T
G. Analysis of Loans by Types of Security
N um ber o f
A cco u n ts

L oa n B alances O utstan din g at th e B eginning o f the Y e a r Based, in
W h ole or in Larger Part, o n :
(a) C h attel m ortgages on household g o o d s ...............................................
(b ) A u to m o b ile s ....................................................................................................
(c) O ther c h a tte ls ................................................................................................
(d) U nsecured n o te s ............................................................................................
(e) E n dorsed a n d /o r co-m a k er n o t e s ..........................................................
(f) W a g e assign m en ts........................................................................................
(g) O ther con sid era tio n s....................................................................................

124,278
3 2 ,0 6 6
4 ,4 5 2
18,291
8,241
2 ,8 9 6
1,227

$ 1 4 ,7 3 4 ,4 5 7
3 ,8 1 3 ,2 2 4
5 5 4 ,8 3 5
1 ,7 8 2 ,8 5 3
8 1 6 ,6 3 0
2 0 0 ,2 6 5
151 ,8 8 4

(h) T o t a l ..................................................................................................................
L oans
(a)
(b)
(c)
(d)
(e)
(f)
(g)

A v era ge
D o lla r

A m oun t

72
94
03
36
40
51
26

$118
118
124
97
99
69
123

56
92
62
47
09
15
78

191,451

$ 2 2 ,0 5 4 ,1 5 1 22

115 19

M a d e D u rin g the Y e a r Based, in W h o le or in Larger P art on :
Ch attel m ortgages on household g o o d s ...............................................
A u to m o b ile s ....................................................................................................
O ther ch a tte ls ................................................................................................
U nsecured n o te s ............................................................................................
E n dorsed a n d / or co-m ak er n o te s ..........................................................
W a ge assignm ents........................................................................................
O ther con sid era tio n s...................................................................................

127 ,010
5 7 ,5 9 7
9 ,3 4 9
2 1 ,6 4 4
7,5 7 3
1,9 3 6
1 ,7 2 6

$ 1 9 ,0 6 3 ,1 9 2
7 ,7 4 9 ,8 4 7
1 ,2 8 5 ,4 0 6
2 ,5 7 7 ,8 1 0
933 ,6 4 5
186 ,909
2 1 9 ,6 1 0

150
134
137
119
123
96
127

67
33
04
26
09
01
12

09
55
49
10
28
54
23

(h) T o t a l ..................................................................................................................

226 ,835

$ 3 2 ,0 1 6 ,4 2 0 52

141 14

L oa n Balances O utstan din g at E nd o f th e Y e a r Based, in W h o le or
in Larger P art, on :
(a) C h attel m ortgages on household g o o d s ...............................................
(b) A u to m o b ile s ....................................................................................................
(c ; O ther c h a tte ls .................................................................................................
(d) U nsecured n o te s ............................................................................................
(e) E n dorsed a n d /o r co-m ak er n o t e s ..........................................................
(f) W a g e assign m en ts........................................................................................
(g) O ther con sid era tio n s....................................................................................

1 2 1 ,1 4 4
3 9 ,1 2 3
7,0 2 2
1 6 ,9 4 4
7 ,4 1 8
1,0 5 3
1,381

$ 1 3 ,4 8 2 ,7 8 7
4 ,0 3 4 ,5 2 7
7 4 6 ,1 6 4
1 ,5 8 3 ,7 9 8
6 7 3 ,7 0 7
7 5 ,5 8 0
149 ,727

111
103
106
93
90
71
108

(h) T o t a l ..................................................................................................................

194,085

$ 2 0 ,7 4 6 ,2 9 2 61

32
28
20
51
52
25
53

29
12
26
47
82
78
42

106 89

H. Non-Paying Delinquent Accounts as at December 31, 1938
Number
of
Accounts
Accounts with no payment either of Principal or of Charges for:

(d) Total...........................................................................................................


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Federal Reserve Bank of St. Louis

Amount of
Unpaid Principal
Balance

10,236
2,597
5,720

$1,021,741 32
239,081 14
573,057 21

18,553

$1,833,879 67

SM ALL LOAN LICENSEES

I.

237

Suits, Possession and Sale of Chattels

Note: A borrower’s account may appear under any one or all five of the classifications below.
Number
of
Accounts

Amount
Due

Amount
Collected

Ch attel M ortg ages and Bills o f Sale F oreclosed during year:
(a) Furniture taken w hen in u s e ...................................................................
(b) F oreclosure secured b u t furniture not r e c o v e r e d .............................
(c) Fu rn iture aba n don ed b y ow ner or released w hen not in u s e . . .

17
11
117

$2,621 51
1,547 48
19,042 13

$784 28
1,219 19
7,597 25

(d) T o t a l ..................................................................................................................

145

$23,211 12

$9,600 72

Suits for R e c o v e r y :
(a) Suits for recov ery pending at close o f previous y e a r .....................
(b) Suits instituted during y e a r .....................................................................
(c) Suits on w hich ju d g m e n t w as secured during y e a r ........................
(d) Suits settlea before ju d gm en t during y e a r ........................................
(e) Suits pending at close o f current y e a r .................................................
W rits o f R ep levin Served t o R e co v e r C h a tte ls............................................

102
1 .565
1,221
159
154
108

W a g e A ssignm ents Filed D uring Y e a r .............................................................
Possession o f C hattels O btain ed b y Licensee:
(A ) H ousehold G oods
B y Legal P rocess or C on tract R ight
(1) W h en in u s e .......................................................................................
(2) W h en not in u s e ..............................................................................
B y V olu n ta ry Surrender
(1) W h en in u s e ......................................................................................
(2) W h en n ot in u s e ...............................................................................
(B ) A u tom ob iles.
B y Legal P rocess or C o n tra ct R ight
(1) W h en in u s e .......................................................................................
(2) W h en n ot in u s e ........................................................... ..................
B y V olu n tary Surrender
(1) W h en in u s e .......................................................................................
(2) W h en n ot in u s e ...............................................................................
(C ) O ther C h attels and P rop erty
B y Legal Process or C on tract R ight
(1) W h en in u s e .......................................................................................
(2) W h en n ot in u s e ................................................... ............. .............
B y V olu n ta ry Surrender
(1) W h en in u s e .......................................................................................
(2) W h en not in u s e ...............................................................................
Sale o f C h attels b y Licensee:
(A ) W ith B orrow er’ s Con sent
(1) W h en in u s e .......................................................................................
(2) W h en not in u s e ..................................................... .........................
(B ) W ith ou t B orrow er’s Con sent
(1) W h en in u s e .......................................................................................
(2) W h en not in u s e ...............................................................................


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Federal Reserve Bank of St. Louis

$13,295
197,443
155,524
17,181
22,406
18,747

30
63
45
62
12
54

45

5,057 52

18
27

3,322 18
4,474 48

26
188

4,711 11
29,564 67

1,249
199

187,578 97
22,590 15

875
1,084

122,138 31
174,924 53

4
4

613 66
773 12

5
14

382 86
2,035 79

742
1,194

116,290 16
196,972 09

$79,712 25
102,085 69

481
785

70,575 87
121,787 29

43,337 46
80,638 76

STATE BANKING DEPARTMENT

238

TABLE N o. 38— L ist o f Sm all L oan Licensees as a t D ecem ber 31, 1938
Name of Licensee

Location

Local Finance Corporation................................................................................ Adrian
Citizens Finance Company................................................................................Alanson
Domestic Finance Com pany............................................................................. Albion
J. F. Ervin......................................................................................................... Ann Arbor
Local Finance Corporation................................................................................ Ann Arbor
Personal Finance Corporation.......................................................................... Ann Arbor
Battle Creek Loan Company............................................................................ Battle Creek
The Colonial Finance Com pany...................................................... ...............Battle Creek
Household Finance Corporation...................................................................... Battle Creek
Michigan Loan Company.................................................................................. Battle Creek
Model Finance Com pany.................................................................................. Battle Creek
Citizens Finance Company, Inc....................................................................... Bay City
DeWaele and Regan.......................................................................................... Bay City
Household Finance Corporation............................................................ ..........Bay City
Motor Car Loan Company of Illinois............................................................. Bay City
Personal Finance Company of Bay C ity ........................................................Bay City
Citizens Finance Company................................................................................Benton Harbor
Community Finance Company. . ..................................................................Benton Harbor
Model Loan Service, Inc.................................................................................... Benton Harbor
Personal Finance Company of Benton Harbor............................................. Benton Harbor
Eldridge, Muchler and Com pany.................................................................... Big Rapids
Beaver-Dahlquist Company..............................................................................Cadillac
Maud V. W eaver.................................................................................................Cedar Springs
Local Finance Corporation........................................................................... .. Cold water
Wolverine Finance Company............................................................................Coldwater
Prudential Finance Com pany*.........................................................................Dearborn
Regal Finance Company....................................................................................Dearborn
Acme Loan Com pany.........................................................................................Detroit
Leo M. Biggs, Inc................................................................................................Detroit
Bradley Finance Company.................... .. ........................................................Detroit
Car Buyers’ Loan Company............................................................................. Detroit
Central M otor Finance Company....................................................................Detroit
Citizens Credit Com pany.................................................................................. Detroit
The City Finance Company (2 Offices)..........................................................Detroit
Commonwealth Loan Company (6 offices).................................................... Detroit
Davis Auto Finance Corporation*...................................................................Detroit
E. M. Doty, Inc. (5 offices).............................................................................. Detroit
Economy Finance Com pany.............................................................................Detroit
Gaylord Finance Company............................................................................... Detroit
General Public Loan Corporation (2 offices)................................................. Detroit
Hartman and Com pany.....................................................................................Detroit
Household Finance Corporation (10 offices)..................................................Detroit
The Investment Loan Com pany......................................................................Detroit
McDonald Robbins Com pany..........................................................................Detroit
Michigan Mortgage Loan Company............................................................... Detroit
Michigan Peoples Finance Corporation..........................................................Detroit
Midwest Budget and Loan Company............................................................. Detroit
Motor Car Loan Company of Illinois............................................................. Detroit
National Discount Corporation........................................................................Detroit
The Ohio Finance Company............................................................................. Detroit
Personal Finance Company pf Detroit (2 offices)........................................ Detroit
Personal Finance Company of Michigan....................................................... Detroit
Provident Loan and Savings Society of Detroit...........................................Detroit
Provident Loan and Savings Society (2 offices)........................................... Detroit
Public Loan Company....................................................................................... Detroit
Regal Finance Company (6 offices).................................................................Detroit
Reliable Finance Company*............................................................................. Detroit
Securities Acceptance Corporation..................................................................Detroit
Securities Loan Company..................................................................................Detroit
Service Loan Company of Delaware...............................................................Detroit
W. F. Stebens, Inc.............................................................................................. Detroit
Stock Loan Com pany........................................................................................ Detroit
Uniform Loan and Investment Com pany......................................................Detroit


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Federal Reserve Bank of St. Louis

SMALL LOAN LICENSEES
Walton Company............................................................................................... Detroit
Wayne Acceptance Company.......................................................................... Detroit
Local Finance Corporation...............................................................................Dowagiac
Liberty Loan Corporation................................................................................ Escanaba
Baxter Loan Com pany......................................................................................Flint
Continental Investment Corporation............................................................. Flint
Home Finance Com pany*................................................................................ Flint
Household Finance Corporation (2 offices)................................................... Flint
Industrial Loan Company of Flint................................................................. Flint
Jesse B. Lamos.................. '................................................................................ Flint
Motor City Finance Company........................................................................ Flint
The Ohio Finance Company............................................................................ Flint
Personal Finance Company of Flint................................................. ..............Flint
Ude Loans, Inc....................................................................................................Flint
American Acceptance Corporation................................................................. Grand Rapids
A. and M. Finance Company.......................................................................... Grand Rapids
Commonwealth Loan Com pany......................................................................Grand Rapids
Lewis DeLeeuw...................................................................................................Grand Rapids
Fidelity Corporation of Michigan (2 offices).................................................Grand Rapids
Household Finance Corporation......................................................................Grand Rapids
Industrial Mortgage Com pany........................................................................ Grand Rapids
Jordan and Jordan............................................................................................. Grand Rapids
Personal Finance Company of Grand Rapids.............................................. Grand Rapids
Art’s Auto Loans, Inc........................................................................................ Hamtramck
The City Finance Company............................................................... ..............Hamtramck
Personal Finance Company of Hamtramck.................................................. Hamtramck
Fidelity Corporation of Michigan................................................................... Hastings
Commonwealth Loan Com pany...................................................................... Highland Park
General Public Loan Corporation................................................................... Highland Park
Household Finance Corporation (2 offices)................................................... Highland Park
Peoples State Loan Company of Delaware................................................... Highland Park
Personal Finance Company of Highland Park............................................. Highland Park
Regal Finance Company................................................................. ..................Highland Park
Local Finance Corporation............................................................................... Hillsdale
Holland Loan Association................................................................................. Holland
Citizens Finance Company.............................. .................................................Howell
Fidelity Corporation of Michigan................................................................... Ionia
Liberty Loan Corporation................................................................................ Ironwood
Personal Loan System....................................................................................... Ironwood
Sawyer Loan Company..................................................................................... Ithaca
Citizens Small Loan Company.........................................................................Jackson
The Colonial Finance Com pany......................................................................Jackson
Elwood Finance Service.................................................................................... Jackson
Household Finance Corporation......................................................................Jackson
Jackson Community Finance Company........................................................ Jackson
Michigan Industrial Loan Corporation..........................................................Jackson
Model Finance Service, Inc.............................................................................. Jackson
Citizens Credit Corporation of Indiana......................................................... Kalamazoo
The Colonial Finance Com pany......................................................................Kalamazoo
Fidelity Loan Com pany.................................................................................... Kalamazoo
Household Finance Corporation...................................................................... Kalamazoo
Industrial Finance Com pany........................................................................... Kalamazoo
Kalamazoo Loan Com pany.............................................................................. Kalamazoo
The Colonial Finance Com pany......................................................................Lansing
Credit Budget Company of Lansing...............................................................Lansing
Household Finance Corporation...................................................................... Lansing
Lansing Loan Com pany.................................................................................... Lansing
Peoples Finance Service, Inc............................................................................ Lansing
Personal Finance Company of Lansing......................................................... Lansing
Budget Finance Com pany*.............................................................................. Lincoln Park
Advance Loan Com pany.................................................................................. Ludington
West Michigan Finance Com pany..................................................................Manistee
Liberty Loan Corporation................................................................................ Marquette
Walter C. Wylie and Company.................................................
Marquette
Nelson N. Rouse.................................................................................................Mason
Midland Finance Com pany..............................................................................Midland


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

239

240

STATE BANKING DEPARTMENT

Peoples Finance Service, Inc........................................................................... Midland
The Monroe Finance Company...................................................................... Monroe
Mt. Clemens Finance Com pany.............................................................. ..
.M t. Clemens
Regal Finance Company................................................................................... Mt. Clemens
Home Loan Company....................................................................................... Muskegon
Household Finance Corporation..................................................................... Muskegon
Industrial Mortgage Com pany........................................................................Muskegon
National Money Corporation.......................................................................... Muskegon
Personal Finance Company of M uskegon.. . . . ............................................Muskegon
Community Finance Com pany........................................................................Niles
Local Finance Corporation...............................................................................Niles
Niles Loan Company.........................................................................................Niles
Domestic Finance Com pany............................................................................Owosso
Home Loan and Finance Service.................................................................... Owosso
Julius E. K e b le r .i..............................................................................................Owosso
Regal Finance Company.................................................................................. Plymouth
Bradford Finance Company.............................................................................Pontiac
Buckner Finance Company..............................................................................Pontiac
Home and Auto Loan Company of Delaware.............................................. Pontiac
Motor Car Loan Company of Illinois............................................................ Pontiac
Personal Finance Company of Pontiac.......................................................... Pontiac
Pontiac Community Finance Company.........................................................Pontiac
Provident Loan and Savings Society of Detroit.......................................... Pontiac
Household Finance Corporation............................................................ ..........Port Huron
James C. M ugan.................................................................................................Port Huron
Personal Finance Company of Port Huron.................................................. Port Huron
Personal Finance Company of River Rouge............................................. River Rouge
Personal Finance Company of Royal Oak................................................. Royal Oak
The Royal Finance Com pany..........................................................................Royal Oak
Citizens Loan and Investment Company*....................................................Saginaw
Fidelity Corporation of Michigan................................................................... Saginaw
General Service, Inc........................................................................................... Saginaw
Household Finance Corporation......................................................................Saginaw
Personal Finance Company of Saginaw.........................................................Saginaw
Tierney Finance Company............................................................................... Saginaw
Walter C. Wylie and Company....................................................................... Sault Ste. Marie
Peoples Loan Company.....................................................................................South Haven
Citizens Finance Com pany................................................................ - . ...........Sturgis
Franklin Finance Company..............................................................................Sturgis
Tecumseh Finance Company........................................................................... Tecumseh
Standard Loan and Investment Company*.................................................. Traverse City
Citizens Credit Corporation of Indiana......................................................... Three Rivers
Peoples Finance Com pany................................................................................Williamston
Protection Loan Com pany................................................................................Wyandotte
Provident Loan and Savings Society of D etroit...........................................Wyandotte
Wyandotte Finance Company......................................................................... Wyandotte
T. H. Bird and Company, Inc............................................ ........................ .. Ypsilanti
*Not included in Table No. 37, abstract of reports of small loan licensees.


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Federal Reserve Bank of St. Louis

TABLE NO. 39

REPORTS
OF

TH E

Safe and Collateral Deposit Companies
IN MICHIGAN
A S F U R N IS H E D

T H E C O M M IS S IO N E R O F T H E


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Federal Reserve Bank of St. Louis

STATE

B A N K IN G

DECEMBER 31, 1938

DEPARTM ENT


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

SAFE AND COLLATERAL D EPO SIT COMPANIES

243

COMMONWEALTH SAFE D EPO SIT COMPANY, D ETRO IT, M ICHIGAN.
INCORPORATED M AY 16, 1932.
F rank

W.

W olf,

D ir e c t o r s .— Frank

President; F red H . T a l b o t , Vice President; R u t h
Secretary-Treasurer.
W. W olf, Howard P. Parshall, Fred

T.

P e a r so n ,

H. Talbot, Wm. W.

Smith.

Statement December 31, 1938.
ASSETS

LIABILITIES

Cash on h a n d __________________________
$100.00
Due from banks__________________________
5,272.07
Safe deposits vaults______ ______________ ' 50,000.00
U. S. securities___________________________
8,000.00
3,628.00
Customers’ key account__ _________________
Total _______________________________

$67,000.07

Capital stock ___________________________
Surplus ________________________________
Reserves _______________________________
Customers’ key a ccou n t_________________

$50,000.00
1,466.83
11,905.24
3,628.00

Total _______________________________

$67,000.07

TH E D E T R O IT SAYINGS SAFE D EPO SIT COMPANY, D ETRO IT, M ICHIGAN.
INCORPORATED MAY 3, 1921.
J o s e p h M. D odge , President; E d w in D. K a y , Vice President; G u s t a v e A . W e l l e n s i c k ,

Secretary-Treasurer.
D ir e c t o r s .— Joseph

M. Dodge, Edwin D. Kay, George D. Miller, Charles H. Hewitt,
Gustave A. Wellensick.

Statement December 31, 1938.
ASSETS

LIABILITIES

Due from banks_________________________
H. O. L. C. b o n d s ______________________
U. S. Treasury bonds __________________
Income accrued receivable_____ __________

4,202.46
76,933.75
52,278.13
1,323.31

Capital stock ___________________________
Unearned box rentals payable___________
Unearned Federal tax payable _________
Key deposit a ccou n t____________________

$100,000.00
23,620.42
311.23
10,806.00

Total ------------------------------------------------ $134,737.65

Total -----------------------------------------------

$134,737.65

FO RD SAFETY D EPO SIT COMPANY, D ETRO IT, M ICHIGAN.
IN CORPORATED SEPTEM BER 16, 1937.
G eorge R . F ord , J r ., President; F. S. F ord , Vice President; E d w a r d F . K n ig h t , Secre­
tary-Treasurer; M a r y O m e r , Assistant Secretary-Treasurer.
D ir e c t o r s .— George R. Ford, Jr., Edward F. Knight, Samuel B. Knight, W. W. Knight,

Jr., F. S. Ford.

Statement December 31, 1938.
ASSETS
Cash on hand __________________________
Due from b a n k s ________________________
Furniture and fixtures__________________
Marketable securities __________________
Prepaid insurance and taxes____________
Deferred still alarm service_____________

LIABILITIES
$25.00
13,130.46
15.45
101,653.38
442.52
387.35

Total ------------------------------------------------ $115,654.16


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Federal Reserve Bank of St. Louis

Capital stock ---------------------------------- -------- $100,000.00
Undivided profits, net _________________
5,585.09
Accounts payable and accrued expenses—
10,069.07

Total ------------------------------------------------

$115,654.16

STATE BANKING D EPARTM ENT

244

SAFE D EPO SIT COMPANY OF D ETROIT, D ETROIT, M ICHIGAN.
INCORPORATED JUNE 30, 1933.
B. E. Y o u n g , President; A. T. W il s o n , E. S. B u r n s , Vice Presidents; G. S. H o p p in ,
J r ., Secretary-Treasurer; L a w r a n c b C. T o w n s , Assistant Secretary-Treasurer; O. A.
W a Ld ow , Auditor.
D ir e c t o r s .— W. S. McLucas, Charles T. Fisher, .Tr., B. E. Young, A. T. W ilson, E. S.
Burns, G. S. Hoppin, Jr.

Statement December 31, 1938.
LIABILITIES

ASSETS
Cash on hand __________________________
Due from banks _______________________
U. S. bonds and securities_____________
Prepaid expense—net ___________________

$175.00
10,136.19
139,507.07
5,850.40

Total ___ __________________________

$155,668.66

Capital stock ___________________________ $100,000.00
2.43
Undivided profits, net _______ ,----------- —
Key a cco u n t_____ _________
9,657.00
Federal and socialsecurity taxes__________
928.85
Income received butunearned____________
45,080.38
Total _______________________________

$155,668.66

W AYNE SAFE D EPO SIT COMPANY, DETRO IT, MICHIGAN.
INCORPORATED M ARCH 6, 1934.
H e n ry H. S a n g e r , President; J o h n H. H a r t , Vice President; C. K. B a r t o w , SecretaryTreasurer; J. O. B ig n e l l , Assistant Treasurer; F. F u l l e r , Assistant Secretary.
D ir e c t o r s .— Henry H . Sanger, John H. Hart, C. K. Bartow , S. R. Kingston, C. A. Kanter.

Statement December 31, 1938.
LIABILITIES

ASSETS
Cash on h a n d ---------------------------------------Due from banks ________________________
Investments ____________________________
Income accrued „ _______________________
Prepaid insurance _____________________

$60.00
713.35
138,168.62
1,649.92
1,114.19

Capital stock ___________________________
Undivided profits, net _________________
Reserves for expenses __________________
Reserve for amortization _______________
Liability for key deposits_______________
Unearned rentals _______________________

Total _______________________________

$141,706.08

Total _______________________________

$100,000.00
14,649.52
2,326.86
2,590.38
3,229.00
18,910.32
$141,706.08

KALAM AZOO SAFE D EPO SIT COMPANY, KALAM AZOO, M ICHIGAN.
INCORPORATED FE B R U A R Y 1, 1930.
W il l i a m

J.

President; C h a r l e s J. M onroe , C h e s t e r F .
Presidents; S t a n l e y C. F r o s t , Secretary and Treasurer.

L aw rence,

D ir e c t o r s .— W illiam

J. Lawrence, Charles J. Monroe, Chester F.
Frost, Robert J. Hatch.

Idema,

I dem a,

Vice

Stanley

C.

Statement December 31, 1938.
LIABILITIES

ASSETS
Cash on hand _________________________
Safe deposit vaults _____________________
Furniture and fixtures _________________
Impounded funds -----------------------------------Notes receivable _____________

$1,451.08
64,352.85
1,951.66
773.01
11,000.00

Capital stock -----------------------------------------Surplus ________________________________
Reserves ________________________________
Social security tax payable — --------------

Total _______________________________

$79,528.60

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$65,000.00
3,802.12
10,717.68
8.80
$79,528.60

TABLE NO. 40

REPORTS
OF THE

NATIONAL BANKS
IN MICHIGAN
AS FURNISHED THE COMMISSIONER OF THE STATE RANKING DEPARTMENT


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

DECEMBER 31, 1938


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

N ATION AL BANKS OF M ICHIGAN

247

THE NATIONAL BANK OF AD RIA N , AD RIAN .
W a l t e r P . J a c o b s , President and Chairman of the Board; E . C. O l iv e r , Vice President;
W . M. S h e p h e r d , Cashier; L. W. P ie r c e , Assistant Cashier.
D ir e c t o r s .— O. T. Goodwin, J. M. Grace, W. P. Jacobs, E. C. Oliver, C. A. Shierson,

Dr. L. J. Stafford, W. M. Shepherd.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $636,824.44
32.50
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed :________________
66,494.03
Other bonds, stocks, and securities_____ 234,738.26
67,500.00
Banking house _________________________
Reserve with Federal Reserve Bank_____
126,573.43
Cash, balances with other banks, and
cash items in process of collection____
239,021.38
Other assets ____________________________
1.00

Demand deposits of individuals, partner­
ships, and corporations _______________ $432,012.97
Time deposits of individuals, partnerships,
and corporations ________ - __________ „ 515,135.59
State, county, and municipal deposits___
171,816.42
United States Government and postal
savings deposits ____________________
46,830.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
38,411.83
Dividends declared but not yet payable
and amounts set aside for dividends not
690.00
declared ______________________________
Other liabilities ________________________
976.66
Capital account:
Class A preferred stock_______________
23,000.00
80,000.00
Common stock ______________________ _
Surplus ______________________________
29,795.74
Undivided profits—n e t ________________
12,837.07
2,678.76
Reserves for contingencies_______ _____
Reserve for dividend payable in com­
mon s t o c k __________________________
17,000.00

Total _______________________________ $1,371,185.04

Total ------------------------------------------------ $1,371,185.04

F IR S T NATION AL BANK OF ALPHA, ALPHA.
H e n ry J. V e e se r , President and Chairman of the Board; I ra O d ge r s , Vice President ;
W m . H. V e e s e r , Cashier; F r a n c e s M. H o u l m o n t , Assistant Cashier.
D ir e c t o r s .— Ira Odgers, Henry J. Veeser, Wm. H. Veeser, Roy G. Whitehead, Salvatore

Marcantonio.

Statement December 31, 1938.
ASSETS
Loans and discounts--------------------------------Overdrafts __________________________-—
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Real estate owned other than banking
house ________________________________
Reserve with Federal Reserve Bank-------Cash, balances with other banks, and
cash items in process of collection____
Total _______________________________


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Federal Reserve Bank of St. Louis

LIABILITIES
$64,488.05
20.84
27,923.44
82,603.28
3,500.00
1,198.00
1,800.00
11,898.75
11,448.31
$204,880.67

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Class A preferred stock ______________
Common stock _______________________
Undivided profits—net ________________
Total _______________________________

$33,088.79
89,829.48
33,636.72
2,816.67
20,000.00
25,000.00
509.01
$204,880.67

248

STATE BANKING D EPARTM ENT
TH E CENTRAL NATIONAL BANK A T B A TTLE CREEK.

D onald P. O r d w a t , C h a ir m a n o f t h e B o a r d .
F r a n k G. E v a n s , P r e s i d e n t ; O w e n A. R o s s m a n . E x e c u t i v e V i c e P r e s i d e n t ; G ra n t
W . S m i t h , Vice President; P h i l i p J. R o s s , Cashier a n d Assistant Trust Officer;
E r n e s t J. F i s k , A s s i s t a n t C a s h i e r a n d T r u s t O f f i c e r ; E ar l M. B u c h a n a n , A s s i s t a n t
C a s h ie r .

D ir e c t o r s .— Frank

W olf, Frank G. Evans, E. D. Strain, D. P. Ordway, P. J. Ross,
M. B. Allen, J. W. Murphy, O. A. Rossman, Lillian Bailey Bechmann.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,759,452.37
Overdrafts ______________________ ________
478.58
United States Government obligations,
direct and guaranteed ________________ 1,926,505.65
913,276.22
Other bonds, stocks, and securities_____
Banking house _________________________
949,992.71
Furniture and fixtures __________________
251,957.06
Real estate owned other than banking
house ____________________
3,008.60
Reserve with Federal Reserve Bank____
594,338.23
Cash, balances with other banks, and
cash items in process of collection____
858,809.35
Cash items not in process of collection—
929.81
Other assets ____________________________
6,174.90

Demand deposits of individuals, partner­
ships, and corporations _______________ $1,312,763.37
Time deposits of individuals, partnerships,
and corporations _____________________ 4,210,520.53
State, county, and municipal deposits____
207,818.44
United States Government and postal
savings deposits ______________________
353,690.14
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
46,130.28
and travelers’ checks outstanding_____
Interest, taxes, and other expenses ac­
crued and unpaid _1__________________
6,929.25
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ______________________________
5,937.50
Other liabilities ________________________
25.05
Capital account:
Class A preferred s to c k _______________
475,000.00
Common stock _______________________
400,000.00
Surplus ___________________________
125,000.00
Undivided profits—net _______________
48,665.37
________
60,000.00
Reserves for contingencies
Preferred stock retirement fund_______
12,443.55

$7,264,923.48

Total

$7,264,923.48

Total

F IR S T NATION AL BANK OF BA TTLE CREEK.
G eorge J. G e n e b a c h , President; W aldo I. S toddard , Vice President; G le n O. H o f f h i n e s , Executive Vice President and Cashier; W . D. R e is e n r in g , W. A. G o u ld er ,
K . W . W o l f e , Assistant Cashiers; R. L . B u n d y , Auditor.
D ir e c t o r s .— W.

B. Cudlip, Chas. Binder, D. H. Frazer, Jr., G. J. G enebach; G. O.
Hoffhines, W. I. Stoddard, H. J. Stoddard.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $2,242,373.51
Overdrafts _____________________________
131.84
United States Government obligations,
direct and guaranteed ________________ 1,091,902.64
Other bonds, stocks, and securities_____ 1,248,765.94
Banking house _________________________
796,800.00
Furniture and fixtures ____________
12,534.22
Real estate owned other than banking
149,758.39
house ________________________________
Reserve with Federal Reserve Bank_____
679,758.93
Cash, balances with other banks, and
cash items in process of collection_____
648,762.62
Cash items not in process of collection.1,387.15
Other assets ___________________________
39,089.27

Total _______________________________ $6,911,264.51


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Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations_______________ $1,817,325.96
Time deposits of individuals, partnerships,
and corporations _____________________ 3,993,295.34
State, county, and municipal deposits___
287,697.84
United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_________________ 94,470.92
Interest, taxes, and other expenses ac­
crued and unpaid ------------------------------5,883.42
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ______________________________
5,985.49
Other liabilities ---------------------------------17,741.32
Capital account:
Class A preferred stock ______________
400,000.00
Common s to c k ________________________
150,000.00
Surplus ______________________________
100,000.00
Undivided profits—n e t ------------------------13,182.81
Reserves for contingencies------------------18,034.41
Preferred stock retirement fund--------2,647.00
Total _______________________________ $6,911,264.51

NATIONAL BANKS OF M ICHIGAN

249

SECURITY NATIONAL BANK OF BA TTLE CREEK.
G eorge C. M c K a y , Chairman of the Board ; L onn J. K a r c h e r , President; C. L. F ord ,
Assistant Vice President; H orace F. C o n k l in , Cashier and Vice President; V io l e t
E. R ed m on d , L. E . T o b ia s , E. S. L e a n , R oy E. A d r ia n s o n , Assistant Cashiers; L. W .
D o t t , Trust Officer; W . E. G a s t , Assistant Trust Officer; C. J. J a c k s o n , Auditor.
D ir e c t o r s .— W ellington R. Burt, Glenn A. Cross, Lawrence G. Fell, John A. Galloup,
B urritt Hamilton, Charles S. Jones, Lonn J. Karcher, Arch E. MacGregor, George C.

McKay, C. H. Montgomery, Fred S. Sterling, Robert R. Thomson, R ichard G. Phelps,
Horace F. Conklin, F. Sherriff.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,830,798.58
Demand deposits of individuals, partner­
Overdrafts _____________________________
337.29
ships, and corporations _______________ $2,102,080.49
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed________________
919,938.01
and corporations ______________________ 2,410,192.80
Other bonds, stocks, andsecurities_____ _ 1,370,819.52
State, county, and municipaldeposits____
286,307.97
Banking house _________________________
786,754.85
United States Government and postal
Furniture and fixtures__________________
68,675.50
savings deposits ________ ______________
30,000.00
Real estate owned other than banking
Deposits of other banks, certified and
house ______________ __________________
2,240.22
cashier’s checks, cash letters of credit
Reserve with Federal Reserve Bank_________________ 419,456.85
and travelers’ checks outstanding_________________ 70,597.34
Cash, balances with other banks, and
Interest, taxes, and other expenses ac­
cash items in process of collection_________________ 805,563.28
crued and unpaid ___________________
2,691.72
Other assets ___________________________
7,223.77
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ______________________________
8,160.00
10,018.42
Other liabilities ________________________
Capital account:
Preferred stock _______________________
544,000.00
Common stock ___________ ;___________
400,000.00
Surplus ______________________________
256,000.00
Undivided profits—net _______________
55,419.40
________
26,339.73
Reserves for contingencies
Preferred stock retirement fund______
10,000.00
T o t a l _______________________________ $6,211,807.87

Total ______________________ ________ $6,211,807.87

TH E NATIONAL BAN K OF BAY CITY, BA Y CITY.
M ic h a e l W. C a r r o l l , President; H a r r y J. D e F oe , J. S t a n l e y See , Vice Presidents;
J o h n H o f f m a n , Vice President and Cashier; G. A. H e l m r e ic h , A. C. H a r r is o n , W. S.
D ic k e n , Assistant Cashiers; E d w in O. L i s t , Auditor.
D ir e c t o r s .— J.

Stanley See, W illiam R. WellSj Michael W. Carroll, Harry J. DeFoe,
Hubert S. Smith, Samuel P. Cranage, J Franklin Eddy, John Hoffman, Louis Rupff,
Howard R. Ford, Michael M. Dardas, Homer G. Nichols.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________$1,250,214.56
Demand deposits of individuals, partner­
ships, and corporations _______________ $1,846,502.40
Overdrafts _____________________________
117.55
Time deposits of individuals, partnerships,
United States Government obligations,
and corporations _____________________ 3,444,748.04
direct and guaranteed ________________ 1,965,997.64
Other bonds, stocks, andsecurities _____ 1,789,368.74
State, county, and municipal deposits ___ 394,742.90
Banking house _________________________
198,384.00
United States Government and postal
savings deposits ______________________
54,897.02
Furniture and fixtures ____
37,011.97
Reserve with Federal Reserve Bank_________________ 375,421.01
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
Cash, balances with other banks, and
and travelers’ checks outstanding
351,293.48
cash items in process of collection
. 1,126,369.31
Capital account:
Other assets ___________________________
25,936.42
Common stock _______________________
400,000.00
Surplus ________
125,000.00
Undivided profits—n e t __________
84,318.35
Reserves for contingencies ___________
67,319.01
Total __L____________________________ $6,768,821.20


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Federal Reserve Bank of St. Louis

Total _______________________________ $6,768,821.20

250

STATE BANKING D EPARTM EN T

FA R M E RS AND M ERCHANTS N ATION AL BANK IN BENTON HARBOR.
F. P . E o s b a c k _, J r ., President; R tjssel M. B o o t h b y , Vice President; V erb B e c k w i t h ,
Vice President and Cashier; G eo . D . T a y l o r , Assistant Cashier.
D ir e c t o r s .— Russel M. Boothby, Vere Beckwith, Benj. F. Butzbaugh, F. P. Rosback, Jr.,

H. B. Ross, Chas. E. Stoddard, R. B. Taber.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $535,527.97
Overdrafts _____________________________
388.53
United States Government obligations,
direct and guaranteed ________________ 1,398,769.65
Other bonds, stocks, and securities_____
173,736.75
Banking house _________________________
73,500.00
Furniture and fixtures _________________
5,000.00
Reserve with Federal Reserve Bank_____
205,584.37
Cash, balances with other banks, and
cash items in process of collection____
882,199.90
Other assets ___________________________
3,456.65

Demand deposits of individuals, partner­
ships, and corporations_______________ $1,448,473.79
Time deposits of individuals, partnerships,
and corporations ______ - _____________ 1,241,330.08
State, county, and municipaldeposits____
280,363.24
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
14,591.21
Interest, taxes, and other expenses ac­
crued and un p aid _____________________
2,685.75
Dividends declared but not yet payable
and amounts set aside for dividends not
2,887.50
declared ______________________________
Other liabilities ________________________
14,349.44
Capital account:
67,500.00
Class A preferred s to c k _______________
Common stock _______________________
75,000.00
Surplus ----------------------------------------------41,000.00
Undivided profits—n e t ________________
69,982.81
________
5,000.00
Reserves for contingencies
Preferred stock retirement fund_______
7,500.00
Reserve for dividend payable in com­
mon s to c k ____________
7,500.00

Total

$3,278,163.82

Total

$3,278,163.82

TH E BESSEM ER NATION AL BANK, BESSEM ER.
J o h n J. F r i c k , President; D r . R. J. M u l l e n , Vice President; A. W. S ch m id t , C a s h i e r ;
L eonard C. K u l a s a v ic z , Assistant Cashier.
D ir e c t o r s .— John J. Frick, Dr. R. J. Mullen, H alftan Hansen, Frank Barnich, Leonard

C. Kulasavicz, W. G. Peterson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $189,156.57
Overdrafts _____________________________
70.13
United States Government obligations,
direct and guaranteed________________
118,467.63
Other bonds, stocks, and securities_____
196,195.37
Banking house _________________________
25,000.00
Furniture and fixtures _________________
3,400.00
Real estate owned other than banking
house ________________________________
875.00
Reserve with Federal Reserve Bank_____
45,000.00
Cash, balances with other banks, and
cash items in process of collection____
124,996.04

Demand deposits of individuals, partner­
ships, and corporations _______________ $190,160.69
Time deposits of individuals, partnerships,
and corporations _____________________
356,354.34
State, county, and municipal deposits___
52,781.56
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
3,444.46
Capital account:
Common stock _________ __________ I__
50,000.00
Surplus ______________________________
35,000.00
Undivided profits—n e t ________________
5,419.69
Reserves for contingencies ___________
10,000.00

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$703,160.74

T o t a l ___

------------------------ $703,160.74

NATION AL BANKS OF M ICHIGAN

251

TH E BIRM IN GH AM NATION AL BANK, BIRM IN GHAM .
H. E . E d w a r d s , Chairman oj the Board; C h a s . E . J a m e s , President; E . W. S e a h o l m ,
Vice President; P. G. B u r n e t t , Cashier; A. S h a n l e y R o ss o , Assistant Cashier.
D ir e c t o r s — E . W. Seaholm, Chancey Nixon, A. C. Wermuth, Chas. E. James, John E.

Martin, H. E. Edwards, George R. Averill.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $771,024.83
Overdrafts __________________ ___________
.07
United States Government obligations,
direct and guaranteed ________________
275,156.86
Other bonds, stocks, andsecurities_______ 1,032,259.61
Banking house _________________________
39,947.29
Furniture and fixtures _________________
11,905.10
Reserve with Federal Reserve Bank_____
183,663.30
Cash, balances with other banks, and
cash items in process of collection-------555,421.02
Cash items not in process of collection...
12.70
Other assets ___________________________
243.93

Demand deposits of individuals, partner­
ships, and corporations ______________ $884,853.08
Time deposits of individuals, partnerships,
and corporations _____________________ 1,019,009.99
State, county, and municipal deposits___
737,642.95
United States Government and postal
savings deposits _________________
2,816.81
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
19,185.16
and travelers’ checks outstanding_____
Interest, taxes, and other expenses ac­
crued and unpaid ------------------------------1,889.47
215.14
Other liabilities _______________________ Capital account:
Class A preferred stock ______________
17,200.00
82,800.00
Common stock _______________________
Surplus ______________________________
52,370.04
Undivided profits—net -----------------------37,950.15
Reserves for contingencies -----------------13,701.92

Total _______________________________ $2,869,634.71

Total _______________________________ $2,869,634.71

TH E F IR S T NATION AL BAN K OF B U R R OAK.
P . L. S w i h a r t , President; B e n j . T . P r y , Vice President; G uy D. B o rd n er , Cashier;
J o h n B. B ordner , Assistant Cashier.
D ir e c t o r s .— F. L. Swihart, B en j. T . Fry, Henry J. Ahlgrim, Elmer A. Start, Guy D.

Bordner.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $112,782.59
United States Government obligations,
direct and guaranteed _______________
157,556.25
Other bonds, stocks, and securities-------55,965.00
Banking house ------------------------------------7,250.00
Furniture and fixtures---------------------------2,650.00
Cash, balances with other banks, includ­
ing reserve balance, and cash items in
process of collection _________________
78,303.64
Other assets --------550.00

T o t a l___ ____________________________ $415,057.48


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------Capital account:
Class A preferred s to c k _______________
Common stock _______________________
Surplus ______________________
Undivided profits—n e t ________________
Reserves and retirement account for
preferred capital ___________________
Total _______________________________

$47,981.19
238,516.83
50,813.08
499.25
2,931.52
22,000.00
28,000.00
12,000.00
3,430.61
8,885.00
$415,057.48

252

STATE BANKING D EPARTM ENT
THE F IR S T NATIONAL BANK OF CASSOPOLIS.
P. H o p k i n s , President; H a r r y D. G l e a s o n , Vice President; J o s e p h K. R it t e r ,
Cashier; F r a n k G. S q u ir e s , R u b y A . F l e t c h e r , A u s t in E. F it zg e r a l d , Assistant
Cashiers.

J ay

D ir e c t o r s .— Joseph K. Ritter, Harry D. Gleason, G. Elwood Bonine, Leland R. Funk,

Jay P. Hopkins, Frank G. Squires, C. R. Stevens.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $333,117.21
Overdrafts _____________________________
19.53
United States Government obligations,
244,158.24
direct and guaranteed ________________
Other bonds, stocks, and securities_____
163,544.25
Banking house _________________________
4,100.00
Real estate owned other than banking
house __________
10,869.00
Reserve with Federal Reserve Bank_____
69,378.63
Cash, balances with other banks, and
cash items in process of collection_____
63,257.49

Demand deposits of individuals, partner­
ships, and corporations_______________ $149,823.67
Time deposits of individuals, partnerships,
and corporations _____________________
440,546.90
State, county, and municipal deposits___
145,661.90
United States Government and postal
savings deposits _______
31,522.46
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,489.46
Dividends declared but not yet payable
and amounts set aside for dividends not
2,500.00
declared ___________________ __________
Other liabilities ________________________
.40
Capital account:
Common stock _______________________
50,000.00
Surplus ______________________________
50,000.00
Undivided profits—net -----------------------12,899.56

Total _______________________________

$888,444.35

Total _______________________________

$888,444.35

THE F IR S T NATIONAL BANK OF CHARLOTTE.
W il s o n G eddes , President; C. S. B r o w n , Vice President; R. S. P r e s t o n , Vice President
and Cashier; W . J. H a u e n s t e in , C. E. R ic e , Assistant Cashiers.
D ir e c t o r s .— C. S. Brown, George L. Bennett, W ilson Geddes, C. E . Rice, W. J. Hauen­

stein, R. S. Preston, Clyde A. Fulton.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________
$249,085.69
Overdrafts _____________________________
64.51
United States Government obligations,
direct and guaranteed _______________
370,415.00
Other bonds, stocks, and securities_____
569,257.50
Banking house _________________________
22,000.00
Furniture and fixtures __________
3,200.00
Reserve with Federal Reserve Bank_____
125,634.53
Cash, balances with other banks, and
cash items in process of collection____
224,296.30

Demand deposits of individuals, partner­
ships, and corporations ______________ $360,219.01
Time deposits of individuals, partnerships,
and corporations ________________
900,776.40
State, county, and municipal deposits___ 103,975.56
United States Government and postal
savings deposits ______
5,408.74
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
21,041.43
Capital account:
Common stock _______________________
100,000.00
Surplus __________________
40,000.00
Undivided profits—n e t ________________
22,532.39
Reserves for contingencies
_
10,000.00

Total ______ ________________________ $1,563,953.53

Total _______________________ !_______ $1,563,953.53


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

NATIONAL BANKS OF MICHIGAN

253

THE CITIZEN S NATIONAL BANK OF CHEBOYGAN.
M. D.

F u a l ic K j

President; R. W. L und , Vice President; H. C. F r id a y , Cashier; E. C.
L ie b n e r , Assistant Cashier.

D ir e c t o r s .— M. D. Fralick, R. W. Lund, H. A. Clark, W. I. W aller, Wm. Barnich, J. D.

Viau, G. A. Thompson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $228,371.81
Overdrafts _____________________________
48.49
United States Government obligations,
direct and guaranteed _________ 1_____
166,437.00
Other bonds, stocks, and securities_____
845,286.45
Banking house _________________________
24,500.00
Furniture and fixtures _________________
850.00
85,970.35
Reserve with Federal Reserve B ank_____
Cash, balances with other banks, and
cash items in process of collection___ _ 135,458.23
Other assets ___________________________
191.85

Total ------------------------------------------------$1,487,112.18

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipaldeposits____
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ______________________________
Capital account:
Class A preferred s to c k __ _________ i __
Class B preferred stock ______________
Common stock _______ ________________
Surplus ______________________________
Undivided profits—net _______________
Reserves for contingencies
________
Preferred stock retirement fund_______

266,371.75
963,664.06
90,984.73
2,722.00
625.00
30,000.00
10,000.00
60,000.00
28,000.00
3,120.39
21,624.25
10,000.00

Total _______________________________ $1,487,112.18

THE SOUTHERN M ICHIGAN NATIONAL BANK OF COLDW ATER.
N. G. K oh l , President; H. K. S n y d e r , Vice President; H o w ar d E. L ee®, Cashier; W. H.
S w e e t , Assistant Cashier.
D irectors .— B. R. Warner, A. B. Walker, A. G. Holbrook, N. G. Kohl, H. K. Snyder, Geo.
M. Branch, Wm. H. Milnes.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $675,822.87
Overdrafts _____________________________
160.58
United States Government obligations,
direct and guaranteed _______________
376,472.97
Other bonds, stocks, andsecurities _____ 1,104,237.49
Banking house _________________________
19,000.00
Furniture and fixtures _________________
7,000.00
Reserve with Federal Reserve Bank_____
261,340.94
Cash, balances with other banks, and
cash items in process of collection___
231,407.28
Cash items not in process of collection ._
49.83
Other assets ___________________________
533.56

Demand deposits of individuals, partner­
ships, and corporations _______ :______ $762,463.87
Time deposits of individuals, partnerships,
and corporations _____________________ 1,275,298.36
State, county, and municipal deposits___
306,431.93
United States Government and postal
savings deposits _____
3,317.68
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____
6,444.15
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ___ 1___________
3,300.00
Other liabilities ________________________
3,009.50
Capital account:
Common stock _______________________
165,000.00
Surplus ______________________ '_______
100,000.00
Undivided profits—net _______________
18,760.03
Reserves for contingencies
_______
32,000.00

Total __________ :_________________ $2,676,025.52


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ________________________ ______ $2,676,025.52

254

STATE BANKING DEPARTM EN T
F IR S T NATION AL BAN K OF CR YSTAL FALLS.

H er m a n

H o l m e s , President and Chairman of the Board; E. J. O s w a l d , Vice Presi­
dent; W ard J. K e l l y , Cashier; A l e x a n d e r R o s s , Assistant Cashier.

D ir e c t o r s .— Herman Holmes, E. J. Oswald, C. D. Dwyer, N. P lvatto, L. A. Henry.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities_____
Banking house _________________________
Furniture and fixtures _________________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____

Total _____________________ - ________

$94,724.39
14.68
72,776.56
372,665.00
15,845.00
2,400.00
50,765.42
37,485.16

$646,676.21

Demand deposits of individuals, partner­
ships, and corporations_______________ $140,833.82
Time deposits of individuals, partnerships,
and corporations _____________________
275,080.40
State, county, and municipal deposits___
89,108.70
United States Government and postal
savings deposits __________________
40,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
5,908.01
Bills payable ___________________________
25,000.00
Capital account:
Class A preferred stock _______________
15,000.00
Common stock _______________________
35,000.00
Surplus ______________________________
10,000.00
Undivided profits—net _______________
10,745.28
Total _______________________________

$646,676.21

T H E M ANUFACTURERS NATION AL BANK OF D ETRO IT.
H e n r y H . S a n g e r , President; C h a r l e s A. K a n t e r , Senior Vice President; C h a r l e s
K. B a r t o w , Vice President and Secretary of the Board; J o s e p h F. V e r h e l l e , Vice
President and Comptroller; R o d e r ic k P. P h aser , J o h n H . H a r t , S. R. K in g s t o n ,
P r a n k J. M a u r ic e , B e n j a m in G. V er n o r , P red J. B e y e r , G eorge R. T a i t , H e r b e r t
H . G a r dn er , N o r m a n H . M o y s e y , Vice Presidents; L . G eorge B o t t , W i l l i a m A.
M a y b e r r y , H arrod C. N e w l a n d , 2nd Vice Presidents; A l fr e d A. Z a h r n , Trust Officer;
A. A. J e n k i n s , Assistant Trust Officer; R. C. W a n d e l , Cashier; C h a r l e s A. St o l l ,

Auditor.
D ir e c t o r s .-— Sherwin A. Hill, Alex Dow, Edsel B. Ford,

George R. Pink, Clifford B.
Longley, Murray W. Sales, Henry H. Sanger, Wesson Seyburn, Charles A. Kanter.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts____________________
Overdrafts ___________________________
United States Government obligations,
direct and guaranteed ______________
Other bonds, stocks, and securities___
Banking house _______________________
Furniture and fixtures _______________
Reserve with Federal Reserve Bank___
Cash, balances with other banks, and
cash items in process of collection__
Other assets ---------------------------------------

$39,842,880.43
13,288.68
42,138,522.13
9,680,979.33
319,387.02
1.00
18,772,776.45
22,655,605.11
7,018,175.16

Total __________ __________________ $140,441,615.31


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, part­
nerships, and corporations ___ ;____ $73,956,796.48
Time deposits of individuals, partner­
ships, and corporations_____ ________ 23,322,020.96
State, county, and municipal deposits— 8,146,527.41
United States Government and postal
savings deposits ____________________
35,528.89
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding___ 20,642,242.26
Interest, taxes, and other expenses ac­
crued and unpaid _________________
82,605.75
Other liabilities _____________________
6,823,298.60
Capital account:
Common stock _____________________
3,000,000.00
Surplus ____________________________
3,000,000.00
Undivided profits—net _____________
1,040,000.00
Reserves for contingencies _________
392,594.96
Total ____________________________ -$140,441,615.31

NATION AL BANKS OF M ICHIGAN

255

NATIONAL BANK OF D ETRO IT, D ETRO IT.
W a l t e r S. M c L u c a s , Chairman of the Board.
C h a r l e s T. F is h e r , J r ., President; S cott C a r p e n t e r , H er b e r t L . C h it t e n d e n , R a l p h
H . G a in e s , H a l Y. L e m o n , F r a n k E. O ’ B r ie n , E d w a r d H. R o ge r s , W a l t e r F .
T r u e t t n e r , D onald F. V a l l e y , A l f r e d T. W il s o n , B en E . Y oung , V i c e P r e s i d e n t s ;
W . E a r l e B l a k e l e y , G eorge W . C il l e y , D e n n is A. D a r in , A rn old D . F r e y d l ,
E ugene T. G a r n e r , L eo D. H e a p h y , H e r m a n A. L e it n e r , E d w a r d C. M a h l e r , R ay H.
M u r r a y , J o h n R. W a l s h , J o h n S. W e l l s , H arold B. A s p l i n , W il l i a m H . H o ey ,
H a r r y C. S c h a e f e r , Assistant Vice Presidents; E l b e r t S. B u r n s , Cashier; E a r l J.
F a il o r , Comptroller; C h a s . P. B e s a n c o n , A l f r e d R. G l a n c y , J r ., G eorge S. H o p p in ,
J r ., W . R o s s L a in g , W il l i a m P o w e r s , J o h n M. R e ic h e n b a c h , B e r n h a r d C. S c h u ­
m a c h e r , J a m e s T. S h a w , G eorge H. Z i m m e r m a n , G er ald F. D e w h i r s t , S id n e y J.
D o w d in g , J a m e s H. F a r r a r , W il l i a m A. L e t t o n , L y l e E. M adden , J a y W . S c h o c h ,
O r v il l e H. S t o n e b u r g h , Assistant Cashiers; H e n r y S. H u l b e r t , Vice President and
1 rust Officer; C. H . H a b e r k o r n , J r ., Vice President and Assistant Trust Officer;
H e n ry T. B o d m a n , G eorge E. P a r k e r , J r ., Assistant Trust Officers and Assistant Vice
Presidents; M a l c o l m M cM il l i a n , R a y D. Y oung , L e s t e r E. Z u b rig g , Assistant Trust
Officers; O t t m a r A . W a l d o w , Auditor; R o ber t P. C a m p b e l l , Assistant Auditor.
D ir e c t o r s .— Henry E. Bodman, Donaldson Brown, John B. Ford, Jr., Jam es S. H olden,
James Inglis, W alter S. McLucas, James T. McMillan, A lv a n Macauley, P e te r J.
M on ag h a n , A lfr e d P . S loa n , J r., R. P e rr y S h orts, C harles T. F ish er, FTed J. F ish er,
W illiam S. Knudsen, Charles T. F ish er, J r.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ $71,369,015.96
Overdrafts ________
7,615.18
United States Government obligations,
direct and guaranteed _____________ 204,981,891.44
Other bonds, stocks, and securities___
9,685,298.48
Customers’ liability on account of ac­
ceptances -----------------------------------------5,570.82
Banking House -----------------------------------775,168.49
Reserve with Federal Reserve Bank__ 47,187,138.52
Cash, balances with other banks, and
cash items in process of collection__ 88,131,778.73
Cash items not in process of collection
109,235.21
Other assets _________________________
1,275,470.87

Demand deposits of individuals, part­
nerships, and corporations _________ $201,894,602.37
Time deposits of individuals, partner­
ships, and corporations_____________ 84,832,167.01
State, county, and municipal deposits..- 25,771,521.62
United States Government and postal
savings deposits ------------------------------- 16,939,281.10
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___ 62,136,299.41
Acceptances executed by this bank for
customers and to furnish dollar ex­
change, exclusive of acceptances of
this bank purchased or discounted
and included in “ Loans and Dis­
counts” -------------------------------------------5,670.82
Interest, taxes, and other expenses ac­
crued and unpaid __________________
239,825.67
Dividends declared but not yet payable
and amounts set aside for dividends
not declared -----------------------------------517,500.00
Other liabilities ______________________
5,635.73
Capital account:
Class A preferred s t o c k ________ ____
9,500,000.00
Common s to c k ---------------------------------7,500,000.00
8,000,000.00
Surplus--------------------------------------------Undivided profits—net _____________
5,227,615.04
958,164.93
Reserves for contingencies _________

Total ---------------------------------------------$423,528,183.70


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total --------------------------------------------- $423,528,183.70

256

STATE BANKING DEPARTM EN T
THE DOW AGIAC NATIONAL BANK, DOWAGIAO.

E.

B ru ce

President; C h a r l e s H eddon , Vice President; C la r e F .
Cashier; F ay A t w o o d , K a t h r y n M u r p h y , Assistant Cashiers.

L a in g ,

D ir e c t o r s .— Charles

Heddon,

Clare

F. Pugsley, Richard
John Heddon.

Judd,

M.

E.

P u gsley,

Bruce

Laing,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $290,547.79
45.46
Overdrafts ______________________________
United States Government obligations,
direct and guaranteed________________
238,567.50
Other bonds, stocks, and securities_____
84,512.62
8,669.87
Banking house _________________________
Furniture and fixtures _________________
3,061.18
Reserve with Federal Reserve Bank_____ 237,775.74
Cash, balances with other banks, and
cash items in process of collection____
542,045.15
Other a ssets__ _________________________
2,675.00

Demand deposits of individuals, partner­
ships, and corporations _______________ $486,403.36
Time deposits of individuals, partnerships,
and corporations _____________________
728,800.00
State, county, and municipal deposits____
84,581.13
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
7,569.72
and travelers’ checks outstanding_____
Capital account:
Class A preferred s to c k _______________
24,000.00
Common s to c k ________________________
26,000.00
Surplus ______________________________
30,000.00
Undivided profits—net _______________
9,012.15
Reserves for contingencies
________
6,858.37
4,675.58
Preferred stock retirement fund_______

Total _______________________________ $1,407,900.31

T o t a l ______ - _______________________ $1,407,900.31

THE NATIONAL BANK OF EATON RAPIDS, EATON RA PID S.
W. E. W e b s t e r , President; G eorge L. P e t t i t , R. G. T o n c r a y , Vice Presidents; E. G.
F l o r ia n , Cashier; H . E. G i l l e t t , Assistant Cashier.
D ir e c t o r s .— C.

W.

Greene, Geo. F. Miller, George L. Pettit,
Webster.

R. G. Toncray, W. E.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed _______________
Other bonds, stocks, and securities ____
Banking house _______________
Furniture and fixtures__________________
Reserve with Federal Reserve B a n k -___
Cash, balances with other banks, and
cash items in process of collection __

$77,790.35
11.30

Total _______________________________

$529,089.88


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

194,369.41
6,194.90
7,800.00
600.00
138,036.95
104,286.97

Demand deposits of individuals, partner­
ships, and corporations ______________ $296,831.35
State, county, and municipal deposits----136,184.11
United States Government and postal
savings deposits ---------------------------------717.31
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ____
16,003.93
Capital account:
Common stock _______________________
50,000.00
Surplus ___________________ a_________
10,500.00
Undivided profits—net -----------------------17,684.19
Reserves for contingencies
----------1,168.99
Total __________ ____________________

$529,089.88

257

NATIONAL BANKS OF M ICHIGAN
THE ESCANABA NATIONAL BANK, ESCANABA.
M. N.

S m i t h , President; H. J. R ü s h t o n , Vice President; W. J.
E . L. M o e r s c h , W m . L e it e r , Assistant Cashiers.

S c h m it ,

Cashier;

D ir e c t o r s .— M. N. Smith, Coleman Nee, H. M. Stack, H. J. Rushton, John P. Norton.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $799,925.53
United States Government obligations,
direct and guaranteed ------------------------633,720.08
Other bonds, stocks, and securities_____
424,619.68
Banking house ________________________
59,000.00
7,400.00
Furniture and fixtures _________________
Real estate owned other than banking
house _______________________________
30,618.84
Reserve with Federal Reserve Bank_____
268,374.49
Cash, balances with other banks, and
186,339.10
cash items in process of collection____

Demand deposits of individuals, partner­
ships, and corporations ______________ $438,599.14
Time deposits of individuals, partnerships,
and corporations ------------1,404,223.75
119,522.98
State, county, and municipal deposits____
United States Government and postal
savings deposits _____________________
145,062.09
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
72,152.21
Capital account:
Class A preferred stock ______________
100,000.00
50,000.00
Common stock _______________________
Surplus ______________________________
50,000.00
Undivided profits—net _______________
15,855.25
________
4,582.30
Reserves for contingencies
Preferred stock retirement fund______
10,000.00

Total _______________________________ $2,409,997.72

Total _______________________________ $2,409,997.72

TH E F IR S T NATIONAL BAN K OF ESCANABA.
M. K. B i s s e l l , President; G eorge N. H arder , Vice President; L e s l ie F r e n c h , Cashier;
E. G. R o yc e , F. F. R o yc e , H. A. P e t e r so n , E. B. H a r r is , Assistant Cashiers.
D ir e c t o r s .— M. K. Bissell, Herman

Gessner, Leslie French, George N. Harder, E. G.
Royce.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $991,559.33
Overdrafts ___ 1_________________________
2.45
United States Government obligations,
direct and guaranteed _______________
612,170.65
Other bonds, stocks, and securities_____ 1,178,464.25
Banking house _______ __________________
25,000.00
Furniture and fixtures_________________
1,803.66
Real estate owned other than banking
house ________________________________
16,460.00
Reserve with Federal Reserve Bank_____
208,383.33
Cash, balances with other banks, and
cash items in process of collection____
694,863.77
Other assets __________________ _________
454.39

Demand deposits of individuals, partner­
ships, and corporations_______________ $517,251.05
Time deposits of individuals, partnerships,
and corporations ____________________ _ 2,741,344.36
State, county, and municipal deposits___
72,495.43
United States Government and postal
savings deposits ___________________ ,__
1,022.81
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
19,805.32
Interest, taxes, and other expenses ac­
crued and unpaid ____________________
14,950.00
Other liabilities ________________________
250.00
Capital account:
Common stock _______________________
100,000.00
Surplus ______________________________
100,000.00
Undivided profits—net _______________
151,435.74
Reserves for contingencies
_______
10,607.12

Total _______________________________ $3,729,161.83

Total _______________________________ $3,729,161.83


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

258

STATE BANKING DEPARTM EN T
TH E F IR S T NATION AL BANK OF EVART, EVART.

H. A. M c L a c h l a n , President and Chairman o) the Board ; C. A. L e w i s , Vice President;
L u d w ig B o h l s , Cashier; B. L. N a g y , Assistant Cashier.
D ir e c t o r s .— H.

A. M cLachlan, J. W. M cLachlan, W. F. Henry, C. A.
Butler, Ludwig Bohls, G. D. Rowe.

Lewis, A. J.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $173,097.13
Overdrafts _____________
21.35
United States Government obligations,
15,000.00
direct and guaranteed ________________
Other bonds, stocks, and securities_____
127,137.50
Banking house _________________________
17,500.00
Furniture and fixtures ________________
500.00
Real estate owned other than banking
house ________________________________
921.29
Reserve with Federal Reserve Bank_____
63,986.67
Cash, balances with other banks, and
cash items in process of collection_____
26,057.87

Demand deposits of individuals, partner­
ships, and corporations ______________ $119,459.96
Time deposits of individuals, partnerships,
and corporations _____________________
205,343.18
State, county, and municipal deposits___
36,163.95
United States Government and postal
savings deposits ______________________
5,845.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
4,359.72
Capital account:
Common stock _______________________
35,000.00
Surplus ______________________________
11,000.00
Undivided profits—net _______________
7,050.00

Total ------------------------------------------------ $424,221.81

Total ------------------------------------------------ $424,221.81

NATION AL BANK OF FLIN T, FLIN T.
R. T. L o n g w a y , President; A. B.
J. C o o k , Cashier; A r t h u r F.
W . C. D i c k i e , Vice President
Trust Officer; L eona rd C l a r k ,

C. H a r d y , C o l m a n J. R o s s , Vice Presidents; W e n d e l l
D e Y o n k e r , G eorge G. S p a u l d in g , Assistant Cashiers;
and Trust Officer; A . N e w c o m b e H o c k in g , Assistant
Auditor.

D ir e c t o r s .-— Charles

F. Barth, Ray A. Czachorski, A. B. C. Hardy, Albert Koegel,
Robert T. Longway, J. C. MacGregor, M. D., James Parkhill, Colman J. Ross, W ilfred
C. Dickie, Ferdinand A. Bower.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $1,016,453.53
Demand deposits of individuals, partner­
United States Government obligations,
ships, and corporations__ _____________$2,555,443.58
direct and guaranteed _______________ 2,925,553.46
Time deposits of individuals, partnerships,
Other bonds, stocks, and securities_____ 1,468,979.66
and corporations _____________________ 2,065,670.35
Furniture and fixtures
_______________
1.00
State, county, and municipal deposits___ 1,189,902.61
Reserve with Federal Reserve Bank_________________ 639,752.44
Deposits of other banks, certified and
Cash, balances with other banks, and
cashier’s checks, cash letters of credit
cash items in process of collection________________ 760,189.12
and travelers’ checks outstanding_________________ 74,457.26
Other assets __________________________
24,296.11
Interest, taxes, and other expenses ac­
crued and un p aid_____________________
37,329.23
Dividends declared but not yet payable
and amounts set aside for dividends not
declared _____________________________
5,000.00
Other liabilities ________________________
7,706.83
Capital account:
Common stock _______________________
400,000.00
Surplus ----------------------------------------------- 280,000.00
Undivided profits—net _______________
129,715.46
Reserves for contingencies _____
90,000.00
Total _____________________________ ,_$6,835,225.32


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ------------------------------------------------$6,835,225.32

259

NATION AL BANKS OF MICHIGAN
F IR S T NATIONAL BANK IN GLADSTONE, GLADSTONE.

E lof H a n s o n , President; J a s . T. J o n e s , Vice President; E. ,T. N o r e u s , Cashier; E. H.
N o b l e t , Assistant Cashier.
D ir e c t o r s .-—E lof Hanson, Loyal W. Hanson, Jas. T. Jones, F. A. Miller, S. R. Yenne.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts_____________________ $151,507.31
United States Government obligations,
direct and guaranteed------------------------62,725.00
Other bonds, stocks, andsecurities_______ 129,965.00
Banking house _________________________
11,850.00
Furniture and fixtures ________________
4,500.00
Reserve with Federal Reserve Bank-------42,045.74
Cash, balances with other banks, and
cash items in process of collection------- 106,775.75
Cash items not in process of collection—
747.84
Other assets__________________ «.------------45.20

Total _________ , ____________________

$510,161.84

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits cf individuals, partnerships,
and corporations ------State, county, andmunicipal deposits----United States Government and postal
savings deposits
________________ Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding—.____
Other liabilities ________________________
Capital account:
Class A preferred stock ______________
Common stock _______________________
Surplus ______________________________
Undivided profits—net _______________
Reserves for contingencies ___________
Total _______________________________

$89,064.92
309,717.44
21,309.90
21,128.94
4,862.70
11.04
26,800.00
23,200.00
10,000.00
2,578.83
1,488.07
$510,161.84

TH E NATION AL BANK OF GRAND RA PID S, GRAND R A PID S.
J o s e p h H. B r e w e r , President; A r t h u r E. W e l l s , 1st Vice President; J a m e s V ic t o r
S t u a r t , Vice President ; J o h n L a r s o n , Cashier ; H ar r y C. L undberg , A r c h ib a l d K.
G ib s o n , Assistant Cashiers; R u s s e l l F a ir l e s , Auditor.
D ir e c t o r s .— Hollis S. Baker, M. R. Bissell, Jr., Theron H. Goodspeed, W illiam A. Hyland,

Earle S. Irwin, Boyce K. Muir, Joseph H. Brewer, Arthur E. Wells, Percy Owen,
James L. M clnerney, H arold T. Fletcher.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts------------------------------ $1,834,141.39
O verdrafts____________________________
206.23
United States Government obligations,
direct and guaranteed _____________
5,169,072.56
Other bonds, stocks, and securities____
993,748.74
Cash, balances with other banks, in­
cluding reserve balance, and cash
items in process of collection_______
4,947,020.86
Other assets __________________________
60,157.41

Demand deposits of individuals, part­
nerships, and corporations -------------- $3,931,333.42
Time deposits of individuals, partner­
ships, and corporations ____________
2,561,383.68
State, county, and municipal deposits— 3,269,590.30
United States Government and postal
savings deposits ____________________
38,065.53
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding----1,978,842.88
Other liabilities ______________________
11,286.33
Capital account:
Class A preferred stock ------------------195,000.00
Common stock --------------------------------500,000.00
Surplus _____________________________
305,000.00
Undivided profits—net _____________
164,623.98
Reserves and retirement account for
preferred stock ___________________
49,221.07

Total _____________________________ $13,004,347.19


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _____________________________ $13,004,347.19

260

STATE BANKING D EPARTM ENT
PEOPLES NATION AL BANK OF GRAND RAPIDS.

I ra A. M oor e , President ; J o h n H e r m a n , J o h n B. M a r t in , Vice Presidents; O r r in
B. D aveinport , Cashier; H a r r y J. P r o c t o r , R o bert B. S c h m id t , Assistant Cashiers;
M a u r ic e B r a n d t , Auditor.
D ir e c t o r s .— John Hekman, John B. Martin, Ira A. Moore, W illard P. Keeney, W illiam

R. MeCaslin, Armen S. Kurkjian, Paul G. Goebel, W ade E. Sackner.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $2,227,172.25
Overdrafts _____________________________
172.79
United States Government obligations,
direct and guaranteed _______________ 2,830,054.14
Other bonds, stocks, and securities_____ 1,371,486.19
1.00
Furniture and fixtures __________
Reserve with Federal Reserve Bank_____ 1,063,225.47
Cash, balances with other banks, and
cash items in process of collection____ 1,761,242.79
Other assets ____________________________
5,181.93

Total

$9,258,536.56

Demand deposits of individuals, partner­
ships, and corporations _______________ $2,953,104.51
Time deposits of individuals, partnerships,
and corporations _____________________ 2,500,444.29
State, county, and municipal deposits___ 2,021,680.63
United States Government and postal
savings deposits ______________________
110,000.00
Deposits of other banks, certified and
cashier’s checks, caih letters of credit
and travelers’ checks outstanding_________________ 574,695.72
Other liabilities ________________________
56.14
Capital account:
Class A preferred stock _____________
175,000.00
Common stock _______________________
400,000.00
Surplus ----------------------------------------------- 425,000.00
51,817.31
Undivided profits—net _______________
Reserves for contingencies __________ .
46,737.96
Total

$9,258,536.56

TH E NATIONAL M ETALS BANK OF HANCOCK.
J. P . T h o r n t o n , President; P ie r c e R o b e r t s , Vice P r e s i d e n t a n d M a n a g e r C a l u m e t
Branch; R. C. H a r r in g t o n , Cashier; B . R . B o r c h g r e v in k , A s s i s t a n t C a s h i e r ; M . B .
H o l m q u is t , Assistant Cashier and Auditor; A . J. B a s s o , M a n a g e r L a u r i u m B r a n c h ;
J. H. K a n g e r y , Manager Ironwood Branch; V in c e n t A r b a n a s , A s s i s t a n t M a n a g e r
Calumet Branch; L. H . T in e t t i , Assistant Manager Laurium Branch; G e o . G. H e n r y ,
Assistant Manager Ironwood Branch; J o h n G. K il p e l a , Assistant M a n a g e r L a u r i u m
Branch.
D ir e c t o r s .— John Bandettini, John G. Bennetts, E. W . Massie, C. F. Niemela, W. R.

Thompson, J. P. Thornton, E. M. Lieblein.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,057,095.84
Demand deposits of individuals, partner­
Overdrafts ______________
51.79
ships, and corporations_______________ $1,287,101.37
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed ________________ 2,120,435.25
and corporations __________ ____________ 4,912,516.21
Other bonds, stocks, and securities______ 1,019,167.73
State, county, and municipal deposits___
215,868.48
Banking house _________
148,572.39
United States Government and postal
Furniture and fixtures _________________
9,284.03
savings deposits ______________________
15,356.95
Reserve with Federal Reserve Bank_________________ 345,647.91
Deposits of other banks, certified and
Cash, balances with other banks, and
cashier’s checks, cash letters of credit
cash items in process of collection____ 2,557,494.06
and travelers’ checks outstanding_________________ 44,957.97
Other assets ------31,649.89
Interest, taxes, and other expenses ac­
4,413.50
crued and unpaid ___________
Other liabilities ________________________
1,069.28
Capital account:
Common stock _______________________
500,000.00
Surplus ----------------------------------------------- 260,000.00
42,115.13
Undivided profits—n e t ________ _______
Reserves for contingencies ___________
6,000.00
Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$7,289,398.89

Total

$7,289,398.89

261

NATIONAL BANKS OF MICHIGAN
THE SUPERIOR NATION AL BANK OF HANCOCK.

C h a r l e s L. L a w t o n , President; G ordon R. C a m p b e l l , J o s e p h R u p p e , Vice Presidents;
R ic h a r d E. O dge rs , Executive Vice President and Cashier; W. S. H e n d r ic k s e n , •
B er n ar d O r e l l a , M i l e s B. K il l m a r , Assistant Cashiers.
D ir e c t o r s .— Ray W. Armstrong, Gordon R. CampbeR, W illiam Johnson, Charles L. Law-

ton,

Richard

E. Odgers, Joseph Ruppe, Richard

Vollwerth.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts--------------------------------- $297,229.39
Overdrafts ______________________________
19.69
United States Government obligations,
173,680.47
direct and guaranteed _______________
Other bonds, stocks, and securities_____
534,607.98
25,250.00
Banking house __________________
Furniture and fixtures _____________ _____
3,000.00
Reserve with Federal Reserve B ank_____ 793,068.10
Cash, balances with other banks, and
cash items in process of collection____
240,041.33
779.86
Other assets ___________________________

Demand deposits of individuals, partner­
ships, and corporations _______________ $896,339.59
Time deposits of individuals, partnerships,
and corporations _____________________
823,257.03
107,614.50
State, county, and municipal deposits___
United States Government and postal
savings deposits ______________________ _
5,063.15
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
11,548.50
and travelers’ checks outstanding_____
Capital account:
Class A preferred stock ______________
50,000.00
Common stock ________________ ,______
100,000.00
51,000.00
Surplus ______________________________
Undivided profits—n e t ------------------------21,326.51
Reserves for contingencies____________
1,152.54
Preferred stock retirement fund______
375.00

Total ____________________ ,________ ..$2,067,676.82

Total _______________________________ $2,067,676.82

NATIONAL BANK OF HASTINGS, HASTINGS.
E m i l T yden , President; R ic h a r d A. G r o o s , Vice President; W a r ren E. C a r t e r , Cashier;
O r v il l e A . S a y r e s , Assistant Cashier.
D ir e c t o r s .-— Emil Tyden, Joseph M cKnight, Elmer A. Caukin, W arren E. Carter, Richard

A. Groos, James W. R adford, George Leonard.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-------------------------------- $322,333.38
Overdrafts ___________________________ 22.26
United States Government obligations,
direct and guaranteed------------------------- 223,898.89
Other bonds, stocks, andsecurities_______
185,710.12
Banking house __________________ :---------26,747.57
Furniture and fixtures _________________
4,750.00
Reserve with Federal Reserve Bank_____
117,011.38
Cash, balances with other banks, and
cash items in process of collection____
97,404.17
Other assets ___________________________
273.48

Demand deposits of individuals, partner­
ships, and corporations _______________ $260,331.27
Time deposits of individuals, partnerships,
and corporations _________
525,177.88
State, county, and municipal deposits___
257.58
United States Government and postal
112,657.04
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
4,433.08
Other liabilities ________________________
3.04
Capital account:
Common s to c k ________________________
50,000.00
Surplus ________________
11,200.00
Undivided profits—net ------------------------10,057.81
Reserves for contingencies ___________
4,033.55

Total

________________ ,_____________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$978,151.25

Total

______________________________

$978,151.25

262

STATE BANKING D EPARTM ENT
THE

FIR S T

NATIONAL BANK

OF HERM ANSVILLE.

S t e w a r t E. E ar le ., President; G. H arold E a r l e , Vice President; C h r i s . H. C r ib b l e ,
Cashier; G eorge H . C u r r a n , Assistant Cashier.
D ir e c t o r s .— G. Harold Earle, Stewart E. Earle, David Downey, August Wendt, E. E.

Allen, Chris. H. Gribble.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, and securities____
Banking house _________
Furniture and fixtures _________
Cash, balances with other banks, and
cash items in process of collection____
Other assets ____________________________

$82,749.21
16.14
179,384.09
371,362.95
1,750.00
1,000.00
136,991.39
1,500.00

Total ---------- ------------------------------------- $774,753.78

Demand deposits of individuals, partner­
ships, and corporations ________________ $147,617.24
Time deposits of individuals, partnerships,
and corporations ___________________
518,367.32
State, county, and municipal deposits
38,194.45
United States Government and postal
savings d ep osits___ __________________
1,375.87
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,029.59
Dividends declared but not yet payable
and amounts set aside for dividends not
2,500.00
declared __________
Capital account:
Common stock _______________________
25,000.00
25,000.00
Surplus ______________________________
Undivided profits—net _______________
11,454.86
Reserves for contingencies ___________
4,214.45
Total ------------------------------------------------

$774,753.78

TH E H ILLSDA LE COUNTY NATIONAL BANK OF H ILLSDALE.
.Ta m e s E. D a v id s o n , Chairman of the Board; F ord F oote , President; B. F. G r e e n ,
L. A. G r e e n l e y , Vice Presidents ; H. S. H a r w o o d , Cashier; C. S. H i l l , Assistant

Cashier.
D ir e c t o r s .— James E. Davidson,

I. J. Frankenstein, Ford Foote, B. F. Green, L. A.
Greenley, B. F. Merchant, O. G. McFarland.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts
_________________ $156,729.68
United States Government obligations,
direct and guaranteed________________
116,302.78
Other bonds, Stocks, and securities_____ 216,539.23
Banking house _________________________
12,047.00
Furniture and fixtures _________________
2,370.89
Cash, balances with other banks, includ­
ing reserve balance, and cash items in
process of collection__________
120,587.46
Other assets ____________________________
768.02

Demand deposits of individuals, partner­
ships, and corporations ___________ ___ $157,132.40
Time deposits cf individuals, partnerships,
and corporations _____________________
224,258.40
State, county, and municipal deposits
30,815.52
United States Government and postal
savings deposits ______________________
134,211.22
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_____
4,804.03
Capital account:
Common stock ________________
50,000.00
Surplus ______________________________
10,000.00
Undivided profits—net _______________
4,072.51
Reserves for contingencies ___________
10,050.98

Total ------------------------------------------------


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$625,345.06

Total ------------------------------------------------

$625,345.06

NATIONAL BANKS OF M ICHIGAN

263

THE HOUGHTON NATIONAL BANK, HOUGHTON.
A ll e n P. R e e s , Chairman of the Board; A . N. B a u d in , President ; P a u l D. S w i f t , G eo .
C. E d w a r d s , Vice Presiden ts ; F red C. S t o y l e , Cashier; E d w a r d R o m p e , R. G. B a u d in ,

Assistant Cashiers.
D ir e c t o r s .— Allen

F. Rees, W. H. Schacht, W. C. Douglass, A. N. Baudin, Theodore
Dengler, Paul D. Swift, Lessing Karger, Michael Messner, Geo. C. Edwards.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts____________________ $798,272.39
Overdrafts _________________ - __________
131.94
United States Government obligations,
direct and guaranteed ________________ 1,626,394.72
Other bonds, stocks, andsecurities______ 1,001,116.82
Banking house __________________
38,500.00
Real estate owned other than banking
h o u s e _*_______ , _____
824.21
Reserve with Federal Reserve Bank____ _
276,402.57
Cash, balances with other banks, and
cash items in process of collection____
670,545.62
Other assets_______ *__________________
3,125.12

Demand deposits of individuals, partner­
ships, and corporations _______________ $1,239,839.69
Time deposits of individuals, partnerships,
and corporations _____________________ 2,476,841.77
169,265.36
State, county, and municipal deposits____
United States Government and postal
savings deposits ____________
6,338.35
Deposits of other banks, certified and
cashier’ s checks, cash letters of credit
and travelers’ checks outstanding_________________ 57,591.15
Interest, taxes, and other expenses ac­
crued and unpaid ____________________
3,596.24
Dividends declared but not yet payable
and amounts set aside for dividends not
2,250.00
declared _____________
Other liabilities ________________________
62.59
Capital account:
Class A preferred stock ______________
180,000.00
Common stock _______________
120,000.00
Surplus ______________________________
76,000.00
33,233.09
Undivided profits—n e t ________________
Reserves for contingencies
________
30,295.15
Preferred stock retirement fund_______
20,000.00

Total _______________________________ $4,415,313.39

Total _______________________ _______ $4,415,313.39

FIR S T NATIONAL BANK IN HOW ELL, HOW ELL.
A lfre d P f a u , Chairman of the Board : W . B. R ea de r , President; W i l l i s L. L y o n s , Vice
President; S. W . I t s e i .l , Cashier.
D ir e c t o r s .-— W. B. Reader, W illis L. Lyons, Tliurber Cornell, Winfield H. Line, Alfred

Pfau.

Statement December 31. 1938.
ASSETS
Loans and discounts____________________ $161,789.33
Overdrafts ______________________________
41.24
United States Government obligations,
direct and guaranteed ____________
140,656.51
Other bonds, stocks, and securities______
88,806.00
Banking house _________________________
19,000.00
Furniture and fixtures ________
1,000.00
Reserve with Federal Reserve B a n k ____
159,977.20
Cash, balances with other banks, and
cash items in process of collection____
54,815.82

Total _____________________________ $626,086.10


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations__ >.___________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
United States Government and postal sav­
ings deposits _________________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ___
Capital account:
Class A preferred stock_______________
Common stock _______________________
Surplus _______________________________
Undivided profits—net ____________
Reserves for contingencies ___________
Total _______________________________

$91,679.32
387,002.77
74,168.35
2,270.47
5,655.87
25,000.00
25,000.00
10,000.00
3,309.32
2,000.00
$626,086.10

264

STATE BANKING D EPARTM ENT
THE F IR S T NATION AL BANK AT HUBBELL.

A. L. B u rgan , President; L. C. P e a r c e , Vice President; R olan d M. O dge rs , Cashier;
G. J. S t . G e.r m ain ei , H a r v e y W a t e r s , Assistant Cashiers.
D ir e c t o r s .— A. L. Burgan, Leo C. Frenette, Edward J. Hall, Joseph P. LeBlanc, Richard

E.

Odgers, Roland M. Odgers, L. C. Pearce.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________
United States Government obligations,
direct and guaranteed ________________
Other bonds, stocks, andsecurities_______
Banking house ________________
Furniture and fixtures _________________
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
Other assets ___________________ _ ______

$61,495.95

Total ________ ________________ ______

$424,702.77

166,962.51
106,991.48
8,500.00
1,646.84
25,723.51
53,065.27
317.21

Demand deposits of individuals, partner­
ships, and corporations_______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Other liabilities ________________________
Capital account:
Class A preferred stock ______________
Common s to c k ________________________
Surplus ______________________________
Undivided profits—net _______________
Total _______ ________________________

$48,189.33
277,640.48
31,137.75
3.65
15,000.00
35,000,00
10,000.00
7,731.56
$424,702.77

THE IO N IA COUNTY NATIONAL BANK OF IONIA.
S. Y e o m a n s , President; L loyd T. S m i t h , Vice President; C l y d e N. W il s o n ,
Executive Vice President; H. L. B ergy , Cashier; L eo Me A l a r y , Assistant Cashier.

E d w in

D ir e c t o r s .— Lewis H. Hale, Lloyd T. Smith, Edwin S. Yeomans, Dr. John J. McCann,

Clyde N. W ilson, Harry H. Gemuend, Dr. P. C. Robertson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $579,802.35
United States Government obligations,
direct and guaranteed _______________
191,649.69
Other bonds, stocks, andsecurities______
229,366.10
Banking house _________________________
33,552.14
3,339.73
Furniture and fixtures __________
Reserve with Federal Reserve Bank_____
165,963.30
Cash, balances with other banks, and
cash items in process of collection____
71,959.33
Other assets __ ,________________________
220.59

Demand deposits of individuals, partner­
ships, and corporations _______________ $275,342.30
Time deposits of individuals, partnerships,
and corporations _____________________
611,924.67
State, county, and municipal deposits____
187,654.11
United States Government and postal
28,884.94
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
15,604.31
Other liabilities _____
605.35
Capital account:
Class A preferred s to c k _______________
40,000.00
Common s to c k _______________ ________
60,000.00
Surplus ______________________________
37,500.00
Undivided profits—n e t ________________
3,837.55
Reserves for contingencies
________
7,000.00
Preferred stock retirement fund_______
7,500.00

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,275,853.23

Total

275,853.23

265

NATIONAL BANKS OF M ICHIGAN
TH E F IR S T NATIONAL BANK OF IRON MOUNTAIN.
E. P. B r o w n , President; W. J. C u d l ip , Vice President; L eo H. M o r t b n se n ,
J. W. F r a n s o n , .T. P . W h i t e , Assistant Cashiers.

C a sh ie r ;

D ir e c t o r s .— W. J. Cudlip, E. F. Brown, Charles D. Symonds, Abbott M. Pox, P. A.

Plodin, Louis Bertoldi, G. P. Pugere, Roy A. Laing, Leo H. Mortensen, Payette E.
Brown.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $280,197.46
United States Government obligations,
direct and guaranteed ________________
532,032.83
Other bonds, stocks, and securities_____
638,105.70
70,000.00
Banking house _________________________
Furniture and fixtures _________________
7,000.00
Cash, balances with other banks, and
cash items in process of collection____
655,007.13
232.07
Other assets ___________________

Demand deposits of individuals, partner­
ships, and corporations _______________ $481,603.58
Time deposits of individuals, partnerships,
and corporations _____________________ 1,213,596.03
State, county, and municipal deposits___
189,052.36
United States Government and postal
savings deposits ______________________
32,487.69
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____ 7,092.31
Other liabilities -------------- ----------------------193.08
Capital account:
Common stock ____
100,000.00
Surplus _______________________________
100,000.00
Undivided profits—n e t ________________
30,866.31
27,683.83
Reserves ______________________________

Total ___________________ ___________ $2,182,575.19

Total _______________________________ $2,182,575.19

IRON R IV E R NATIONAL BANK, IRON R IV ER.
E arl J. V a n O r n u m , Presidentj I ra O d ge r s , Vice President ; H e n r y J. V e e se r , Cashier;
G e o . Z a m b o n , Assistant Cashier.
D ir e c t o r s .— W .

G.

Hanson,

J. E .

Lindwall, Ira
Cybulski.

Odgers, E arl J.

VanOrnum, A.

J.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $321,507.48
Overdrafts ___
54.78
United States Government obligations,
187,328.77
direct and guaranteed ________________
Other bonds, stocks, and securities_____
171,656.51
Banking house _________
21,500.00
Furnture and fixtures __________________
5,588.79
Reserve with Federal Reserve Bank_____
55,474.72
Cash, balances with other banks, and
cash items in process of collection____
120,095.98

Demand deposits of individuals, partner­
ships, and corporations _______________ $207,335.52
Time deposits of individuals, partnerships,
and corporations ___________
466,784.30
State, county, and municipaldeposits —
74,800.87
United States Government and postal
savings deposits ______________________
30,700.67
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
13,893.13
and travelers’ checks outstanding-------Capital account:
Common stock _______________________
62,500.00
Surplus _______________________________
22,500.00
Undivided profits—net ________________
4,692.54

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$883,207.03

Total

$883,207.03

206

STATE BANKING D EPARTM ENT
THE GOGEBIC NATIONAL BANK, IRONWOOD.

H o b t . A. D o u g l a s , Pre sid e n t; J o h n J. G o r r il l a , Vice Presid en t; H o b t . M. S k in n e r ,
C ashier; F. A. J a c q u a r t , Assistan t Cashier.
D ir e c t o r s .— John

J. Gorrilla, John W . Best, K. A . Douglas, E. W . Hopkins, Hobt.
M. Skinner, R. A. Angst, A. J. O'Brien, Rob’t. O’Callaghan.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $338,306.99
Overdrafts ______________________________
110.44
United States Government obligations,
direct and guaranteed ________________
343,078.13
Other bonds, stocks, and securities_____ 560,190.52
Banking house _________________________
52,500.00
Furniture and fixtures _________________
5,900.00
Real estate owned other than banking
house _____ ,__________ ________________
3.00
Reserve with Federal Reserve Bank_____
129,664.47
Cash, balances with other banks, and
cash items in process of collection____
371,822.67

Demand deposits of individuals, partner­
ships, and corporations ___________ ___ $447,375.13
Time deposits of individuals, partnerships,
and corporations ___________
1,108,495.43
State, county, and municipal deposits__
74,170.07
United States Government and postal
7,876.50
savings deposits ______
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
12,532.48
Other liabilities ________________________
1,000.00
Capital account:
Class A preferred stock ___________
43,500.00
Common s to c k ________________________
56,500.00
Surplus _______________________________
27,000.00
Undivided profits—n e t ________________
19,827.61
3,299.00
Preferred stock retirement fund_______

Total ------------------------------------------------$1,801,576.22

Total ---------------------------- -------------------- $1,801,576.22

THE M INERS F IR S T NATIONAL BANK OF ISHPEMING.
S.

C o h o d a s , President; W a l t e r H a n s e n , Vice President; C. H . M o s s , Vice Presi­
dent; R. J. J e f f e r y , Cashier; H . M . L a l l y , M . E. M a t t s o n , I. B. M o s s , Assistant
M.

Cashiers.
D ir e c t o r s .— S. M. Cohodas, W alter Hansen, H. T. Hulst, F. E. Keese, K iril Rosberg,

P. J. O’Brien.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts______ _________ ____ $546,588.55
Overdrafts ________ ,____________________
39.55
United States Government obligations,
direct and guaranteed .________________
630,768.03
Other bonds, stocks, and securities_____ 498,281.25
Banking house _____
23,942.00
Furniture and fixtures __________________
2,888.00
Reserve with Federal Reserve Bank_____
144,843.19
Cash, balances with other banks, and
cash items in process of collection_____
400,129.95
Other assets ____________________________
1,115.28

Demand deposits of individuals, partner­
ships, and corporations ___________
$479,901.68
Time deposits of individuals, partnerships,
and corporations _______________ ___ ,_ 1,433,090.65
103,239.65
State, county, and municipal deposits__
United States Government and postal
savings deposits ___________________
2,561.88
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding ____
854.90
Capital account:
Common stock _________________
100,000.00
Surplus _________________________ .,___
100,000.00
Undivided profits—net ________________
28,947.04

Total _________________ _____________ $2,248,595.80

Total ------------------------------------------------ $2,248,595.80


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

267

NATIONAL BANKS OF M ICHIGAN
COMMERCIAL NATIONAL BANK OF ITHACA.

L y n n T. M il l e r ,, President; N orton B. G ib b s , J. L ee P o t t s , Vice Presidents ; K u s s e l l
C. A l l e n , Cashier; W il b u r G. H ubbard , Assistant Cashier.
D ir e c t o r s .— Lynn T. Miller, C. P. Yost, Romaine McCall, Norton B. Gibbs, J. Lee Potts,

Floyd Gibbs, Roland J. Crawford, Anson B. Pinney.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-------- ------------------------ $632,409.89
Overdrafts ---------------------------------------------533.35
United States Government obligations,
direct and guaranteed -------110,062.82
Other bonds, stocks, and securities-------- 150,618.76
Banking house ----6,500.00
Furniture and fixtures _____ _____ ____
7,500.00
Reserve with FederalReserve Bank______
351,997.32
Cash, balances with other banks, and
cash items in process of collection____
146,729.03
Cash items not in process of collection
239.82

Demand deposits of individuals, partner­
ships, and corporations________________ $344,694.15
Time deposits of individuals, partnerships,
and corporations _____________________
820,562.58
State, county, and municipaldeposits —
81,902.51
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------19,959.90
Capital account:
Common stock _______________________
70,000.00
Surplus ______________________________
55,000.00
Undivided profits—net
---------------------14,050.85
_______
421.00
Reserves for contingencies
Total __________________________ ____ $1,406,590.99

Total _______________________________$1,406,590.99
>•

TH E NATIONAL BANK OF JACKSON, JACKSON.
F r a n k W . G a y , Chairman of the Board; S t u a r t M. S c h r a m , President; H a r ry H.
St i l e s , Vice President; R u s h W . M c C u t c h e o n , Vice President; J ay F . C l a r k ,, Vice
President and Cashier; C h a r l E. G r e e n e , Assistant Cashier; L a u r e n c e R. G o u ld ,
Auditor; D a n ie l C. H a e f n e r , Trust Officer.
D ir e c t o r s .-— Samuel H. Camp, Murray Dalziel, Frank W . Gay, J ohn R. Keating, Stuart
M. Schram, Roger W . Smith, Wm. Sparks, Harry H. Stiles, George H. Wilkins, Donald

M. Teer, Charles T. Cline.

Statement December 31, 1938.
ASSETS
Loans and discounts_____________________ $1,573,790.81
Overdrafts ___________________
104.02
United States Government obligations,
direct and guaranteed------------------------- 1,362,649.16
Other bonds, stocks, and securities-------- 1,848,630.40
6,709.44
Furniture and fixtures ------Reserve with Federal Reserve Bank
585,058.61
Cash, balances with other banks, and
cash items in process of collection — 1,248,266.85
Cash items not in process of collection
6,446.11
Other assets -----5,975.40

Total _______________________________ $6,637,630.80


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LIABILITIES
Demand deposits of individuals, partner­
ships, and corporations _______________ $3,221,721.83
Time deposits of individuals, partnerships,
and corporations _____________________ 1,967,222.81
State, county, and municipal deposits-----651,251.19
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding--------------------------203,893.61
Interest, taxes, and other expenses ac­
crued and unpaid _____________________
3,138.13
Dividends declared but not yet payable
and amounts set aside for dividends not
declared — __________________ ________
12,300.00
Other liabilities ____________________ - —
48.99
Capital account:
Class A preferred stock ______________
184,000.00
Common stock _____________
100,000.00
Surplus ____ - ______________________ —
100,000.00
Undivided profits—n e t ________________
80,175.11
Reserves for contingencies _________ :—
75,949.13
Preferred stock retirement fund ______
21,930.00
Reserve for dividend payablein com­
mon stock
16,000.00
Total _______ -_______________________ $6,637,630.80

268

STATE BANKING D EPARTM ENT
THE AM ERICAN NATIONAL BANK OF KALAMAZOO.

D u n l a p C. C l a r k , President; W m . J. L a w r e n c e , M il t o n R. B a il e y , Vice Presidents;
G a r r e t V an H a a f t k n , Cashier; A be D eb oe r , W e l l in g t o n K. B r o w n , L. F. K e l l y ,
Assistant Cashiers; A r t h u r N e i l , Auditor.

Dunlap C. Clark, Alfred B. Connable, Dwight R. Curtenius, Dorothy
Upjohn DeLano, J. Stanley Gilmore, W illiam J. Lawrence, Stephen B. Monroe. Albert
J. Todd, Charles E. Boys, S. Rudolph Light, Louis W. Sutherland.

D ir e c t o r s .

Statement December 31, 1938.
assets

LIABILITIES

Loans and discounts_____________________ $2,569,961.31
Demand deposits of individuals, partner­
Overdrafts _____________________________
138.37
ships, and corporations _____________ $3,481,039.05
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed _ ____ _______ 1,077,622.40
and corporations _____________________ 1,197,024.56
Other bonds, stocks, and securities________________ 927,857.18
State, county, and municipal deposits ___ 1,147,206.00
Furniture and fixtures ___ ____ ______
6,097.52
United States Government and postal
Real estate owned other than banking
savings deposits ______________________
7,363.12
house ---------------------------------------------- __
2,166.86
Deposits of other banks, certified and
Reserve with Federal Reserve Bank________________ 527,930.62
cashier’s checks, cash letters of credit
Cash, balances with other banks, and
and travelers’ checks outstanding_____ 562,096.66
cash items in process of collection____ 1,762,376.27
Securities borrow ed_______
14,923.28
24,514.54
Other assets ________________ l __________
Interest, taxes, and other expenses ac­
crued and unpaid ______
1,604.17
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ---------------------------------------------15,804.16
Other liabilities ___________
100,000.00
Capital account:
150,000.00
Class B preferred stock ______________
Common s to c k -------------------------------------80,000.00
Surplus -----------------------------------------------40,623.04
Undivided profits—net _______________
80,439.28
Reserves for contingencies ___________
20,541.75

Total

$6,898,665.07

Total

$6,898,665.07

TH E F IR S T NATIONAL BANK AND TRU ST CO. OF KALAM AZOO.
C. S. C a m p b e l l , President; J. H. T o l h u iz e n , Executive Vice President; M. B. P u t n e y ,
C. H. S t e a r n s , Vice Presidents; M. W. T a y l o r , Vice President and Trust Officer;
S. A. P r a t t , Assistant Vice President; L. J. W et h er be ®, Cashier; V. R . P atte n *,
Assistant Cashier; J. D. W il c o x , Assistant Trust Officer; F. R. J u b b , Auditor; C. J.
V a n d e r w e e l e , Assistant Auditor; F. H. O s w a l t , Manager Vicksburg Branch.
D ir e c t o r s .— Dr. Edward Ames, Clare H. Stearns, A. E. Kettle, C. S. Campbell D S
Gilmore, E. M. Sergeant, A. L. Blakeslee, A. B. Read, Frank A. Lemke, L. N. Upjohn,
Harvey C. Emery, C. H. Kleinstuck. M. W. Taylor, J. H. Tolhuizen.

Statement December 31, 3938.
ASSETS
Loans and discounts_______ ____ ^_____
Overdrafts ___________________________
United States Government obligations,
direct and guaranteed _____________
Other bonds, stocks, and securities___
Banking house ______________________
Furniture and fixtures . _______________
Real estate owned other than banking
house ---------------------------------------------Reserve with Federal Reserve Bank___
Cash, balances with other banks, and
cash items in process of collection __
Other assets----------------------------------------

LIABILITIES
$2,984,828.06
L875T1
3,325,852.74
2,082,137.05
284,000.49
24,574.67
101,021.63
855,934.69
4,431,510.86
132,309.48

T o t a l ----- ----------- -------------------------- $14,224,044.78


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, part­
nerships, and corporations ________
Time deposits of individuals, partner­
ships, and corporations _____________
State, county, and municipal deposits
United States Government and postal
savings deposits ____________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
Other liabilities _______ ____ __________
Capital account:
Class A preferred s to c k _____________
Common stock _______
Surplus -------------------------------------------Undivided profits—net ______________
Reserves for contingencies__ :______

$5,968,363.37
5,600,348.52
957,432.48
8,417.83
295,386.64
77,668.62
250,000.00
350,000.00
150,000.00
111,006.13
455,421.19

Total --------------------------------------------- $14,224,044.78

269

NATIONAL BANKS OF MICHIGAN
TH E F IR S T NATIONAL BANK OF LAKE LINDEN.
R ay

W.

A r m s t r o n g , P r e s i d e n t ; J o h n P e if f e r , V i c e P r e s i d e n t ;
C a s h i e r ; J. H. W e r n e r , A s s i s t a n t C a s h ie r .

D ir e c t o r s .— R ay

W.

A rm stron g ,

A lla n

M a cIn ty re ,

Joh n

P eiffer,

A.

J.

A.

J.

M acK erroll,
M a cK e rro ll,

Peter E. Ruppe.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts-------------------------------- $120,525.25
United States Government obligations,
direct and guaranteed ------------------------204,050.00
Other bonds, stocks, and securities-------331,914.59
Banking house ----------------------------------- -—
10,750.00
Furniture and fixtures--------------- -----------4,000.00
Reserve with Federal Reserve Bank-------56,048.04
Cash, balances with other banks, and
cash items in process of collection--------- 153,307.62
Other assets____________________________
405.11

Total ___________ :___________________

Demand deposits ol individuals, partner­
ships, and corporations ------------------------ $263,885.13
Time deposits of individuals, partnerships,
and corporations _____________________
465,788.08
State, county, and municipal deposits
62,065.85
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding------9,000.00
Capital account:
Common s to c k ________________ ______
50,000.00
Surplus ________________ ________ _—- —
15,500.00
Undivided profits—net
______________
9,745.22
Reserves for contingencies _________ —
5,016.33

$881,000.61

Total _________________ ____

___

$881,000.61

LANSING NATIONAL BANK, LANSING.
R ic h a r d H.

R ay P o t t e r , P r e s i d e n t ; E. M. W an ge r ,
S i ia w , H arold T. D o n a l d so n , V i c e P r e s i d e n t s ;
D . G r a n t , V i c e P r e s i d e n t a n d C a s h i e r ; J o h n B. N e l l ig a n , A s s i s t a n t C a s h i e r ;

E x ecu tiv e

M il e s

S c o t t , C h a ir m a n

V ic e

P r e s id e n t;

of

th e

B oard;

W m . T.

G eorge W y a t t , A u d i t o r .
D ir e c t o r s .— Luther H. Baker, Byron L. Ballard, Harold T. Donaldson, Drury L. Porter,

Ray Potter, Miles D. Grant, M. J. Maynard, Lewis G. Reutter, Wm. T. Shaw, Richard
H. Scott, Dorr M. Sliotwell, George E. Smith, Eugene M. W anger, David R. Bishop,
John B. Nelligan.

Statement December 31, 1938.
ASSETS

LIABILITIES

Demand deposits of individuals, partner­
Loans and discounts_____________________ $1,337,695.23
ships, and corporations ---------------------- $4,875,717.58
Overdrafts ----- .--------------------------------------257.53
Time deposits of individuals, partnerships,
United States Government obligations,
------------------------- 1,951,620.41
and corporations
direct and guaranteed ------------------------- 2,940,049.54
State, county, andmunicipal deposits------ 2,011,640.79
Other bonds, stocks, and securities---------- 2,394,546.16
United
States
Government
and postal
Furniture and fixtures --------------------------19,098.72
savings deposits
------------26,539.51
Reserve with Federal Reserve Bank-------------------------- 714,079.58
Deposits
of
other
banks,
certified
and
Cash, balances with other banks, and
cashier’s
checks,
cash
letters
of
credit
cash items in process of collection ----- 2,362,779.71
and travelers’ checks outstanding-------------------------- 433,055.42
Cash items not in process of collection
45,900.44
Interest, taxes, and other expenses ac­
Other assets ------------------------------------------29,249.03
crued and unpaid ------------------------------1,524.60
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ______________________________
1,500.00
Other liabilities ------------------11,674.66
Capital account:
Class A preferred stock ---------------------100,000.00
Common stock ------------------------------------ 250,000.00
Surplus ______________________________
50,000.00
Undivided profits—net ---------------57,847.09
Reserves for contingencies ----------------68,930.40
Preferred stock retirement fund----------- ■
3,605.48
Total _______________________________$9,843,655.94


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______________________________ $9,843,655.94

270

STATE BANKING D EPARTM ENT
THE F IR S T NATIONAL BANK OF LAPEER.
•

F rank

T h o m p s o n , President; C h a s . A . L a e s c h , Cashier and Vice President;
L a r s e n , Assistant Cashier; R a y m o n d J. W i l l i a m s , Auditor.

D ir e c t o r s .— Frank

Thompson, Chas. A. Laesch, G. W. Des Jardins, B. T.
R. T. Carpenter, Frank R. Cutting, Harry M. Myers, C. W. Smith.

H ar ry

White,

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,003,227.86
Demand deposits of individuals, partner­
195.22
Overdrafts ---------------ships, and corporations _______________ $594,711.19
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed ________________
323,743.33
and corporations _________
2,073,408.11
Other bonds, stocks, and securities_____ 1,151,366.36
State, county, and municipaldeposits____
259,275.66
Banking house _________________________
25,118.00
Deposits of other banks, certified and
Furniture and fixtures _________________
5,199.16
cashier’s checks, cash letters of credit
Real estate owned other than banking
and travelers’ checks outstanding_____
10,248.28
house ---------------------------------------------------------1,500.00
Dividends declared but not yet payable
Reserve with Federal Reserve B ank________________ 280,816.78
and amounts set aside for dividends not
Cash, balances with other banks, and
declared ______________________________
840.00
cash items in process of collection________________ 447,848.34
Capital account:
Class A preferred stock ______________
53,280.00
Common stock -----------------------------------100,000.00
46,720.00
Surplus ---43,905.11
Undivided profits—net ________________
Reserves for contingencies
________
53,206.70
Preferred stock retirement fund_______
3,420.00
Total — ------------------------------------------—$3,239,015.05

Total ------------------------------------------------$3,239,015.05

THE F IR S T NATION AL BANK OF LAW TON.
F red H. G id d in g s , President; S h e ld o n C o l e m a n , C h a s , I. S t a in t o n , Vice Presidents;
R a y m o n d W e a ver , C a s h i e r ; M r s . M a r io n K l i n e , A s s i s t a n t C a s h ie r .
D ir e c t o r s .

Fred H. Giddings, C. C. Giddings, George Turner, John Turner, Lewis R.
W illiams, Sheldon Coleman, Charles I. Stainton.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $112 424 40
Overdrafts ______________________________
’ i ’ao
United States Government obligations,
direct and guaranteed ________________
82,539.03
Other bonds, stocks, and securities____
173,695.72
Banking house, furniture and fixtures___
11,300.00
141,392.52
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
25,580.95
Cash items not in process of collection—
134.96
Other assets ___________________ ________
477.34

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$547,546.12

Demand deposits of individuals, partner­
ships, and corporations_______________ $142,596.57
Time deposits of individuals, partnerships,
and corporations _____________________
188,321.16
161,358.29
State, county, and municipal deposits___
United States Government and postal
savings deposits _______ ^____________
427.29
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
7,295.60
Capital account:
Common stock -----------------------------------25,000.00
Surplus -----------------------------------------------8,000.00
Undivided profits—net _____________
7,122.15
Reserves for contingencies ___________
7325.06
Total

$547,546.12

271

NATIONAL BANKS OF M ICHIGAN
TH E NATIONAL BANK OF LUDINGTON, LUDINGTON.

K . L. A s h b a c k e r , P r e s i d e n t ; L. G. J e b a v y , J. F. W ood, V i c e P r e s i d e n t s j A . R. ^ e s t l in g .
C a s h i e r ; H. T . S t o lb e r g , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— K . L. Aslibacher, L. G. Jebavy, A. H. Burch, J. F . Wood, A. W. Hamel.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts-------------------- -- --------- $365,299.45
United States Government obligations,
direct and guaranteed ------------------------79,295.21
Other bonds, stocks, and securities-------134,356.22
Banking house --------------------------------------33,542.25
Furniture and fixtures---------------------------2,443.52
118,327.15
Reserve with Federal Reserve Bank-------Cash, balances with other banks, and
cash items in process of collection-------140,448.48

Total _______________________________ * 873,712.28

Demand deposits of individuals, partner­
ships, and corporations ---------------------- $263,275.81
Time deposits of individuals, partnerships,
379,953.67
and corporations _____________________
State, county, and municipal deposits----42,518.27
United States Government and postal
savings deposits ---------------------------------48,197.68
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------186.66
Capital account:
Class A preferred s to c k _______________
60,000.00
Common s to c k ________________________
40,000.00
20,000.00
Surplus ______________________________
Undivided profits—net -------------------- —
7,830.19
Preferred stock retirement fund-------11,050.00
Reserve for dividend payable in com­
mon s to c k ---------700.00
Total _______________________________ $ 873,712.28

THE F IR S T NATIONAL BANK A T M ANISTIQUE.
J a m e s C. W ood , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; F red H . H a h n e , E x e c u t i v e V i c e
P r e s i d e n t ; G eorge A. S h a w , V i c e P r e s i d e n t ; M a u r it z C a r l s o n , C a s h i e r ; R oy E.
A n d e r so n , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Peter Giusiano, Clyde G. Hewett, George A. Shaw, James C. W ood, W illiam

Bowman.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts----- --------------------------- $322,008.45
Overdrafts ---------13.84
United States
Government obligations,
direct and guaranteed ------------------------84,102.27
Other bonds, stocks, andsecurities---------59,141.00
Banking house _________________________
24,500.00
Furniture and fixtures ---------------------- —
4,938.00
63,353.15
Reserve with Federal Reserve Bank--------Cash, balances with other banks, and
cash items in process of collection— __
81,443.89
Other assets ------------------------------------- —
72.22

Total ________________ - _____________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$639,572.82

Demand deposits of individuals, partner­
ships, and corporations _______________ $209,376,39
Time deposits of individuals, partnerships,
and corporations _____:------------ ----------268,346.98
State, county, and municipaldeposits —
87,005.02
United States Government and postal
savings deposits ---------------------------------5,389.37
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------4,686.45
Other liabilities ------------;-----------------------131.94
Capital account:
Class A preferred s to c k -----------------------28,000.00
Common stock -----------------------------------22,000.00
Surplus ______________________________
11,000.00
Undivided profits—n e t -- -------------------- 636.67
Reserves for contingencies ------------------3,000.00
Total _________ _____________ ________* $639,572.82

272

STATE BANKING D EPARTM ENT
TH E F IR S T NATIONAL BANK AND TRU ST CO. OF M ARQUETTE.

L o c is G. K a u f m a n , President; E d w . S. B ic e , 1st Vice President; E. J. H u d so n , V ic e
President; C. L. B r a in e r d , Cashier; W. O. J o h n a s o n , H. E . O l s o n , O. E. B a r ber ,
Assistant Cashiers.
D ir e c t o r s .— Louis

G.

Kaufm an, J. E. Jopling. Edw. S. Bice, C. L. Brainerd, E. J.
Hudson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $809,853.72
Overdrafts _______
137.89
United States Government obligations,
direct and guaranteed_______________ 2,677,450.00
Other bonds, stocks, and securities_____
844,146.13
Banking house _________________________
150,000.00
Real estate owned other than banking
house -------------------------------------------------6,001.00
Cash, balances with other banks, includ­
ing reserve balance and cash items in
process of collection ___________
1,018,174.46
Other assets ____________________________
96.60

Demand deposits of individuals, partner­
ships, and corporations _______________ $966,533.78
Time deposits of individuals, partnerships,
and corporations ____________________ 3,376,781.16
State, county, andmunicipal deposits____
279,431.00
United States Government and postal
savings d ep osits__ :___________________
144,677.39
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
96,797.74
and travelers’ checksoutstanding______
Other liabilities ________________________
12,189.94
Capital account:
Class A preferred s to c k _______________
200,000.00
Common stock ___________
150,000.00
Surplus ----------------------------------------------- 150,000.00
Undivided profits—n e t ________________
51,448.79
Reserves and retirement account for
preferred stock ___________ :_________
78,000.00

Total ------------------------------------------------ $5,505,859.80

Total ------------------------------------------------ $5,505,859.80

TH E UNION NATION AL BANK OF M ARQUETTE.
C h a s . H. S c h a f f e r , President; E r n e s t L. P e a rce , II. R. H a r r is , V i c e P r e s i d e n t s ; E . A .
B r o w n , Cashier.
D ir e c t o r s .— Chas. H. Schaffer, Ernest L. Pearce, H. R. Harris, O. H. Koch, J. P. Werner,

Harlow A. Clark, A. P. Jacques, M. K. Reynolds.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $1,276,034.58
Demand deposits of individuals, partner­
Overdrafts _______________________ ;_____
51.97
ships, and corporations _______________ $961,187.04
United States Government obligations,
Time deposits of individuals, partnerships,
direct and guaranteed _______________ 1,064,200.00
and corporations _____________________ 2,422,323.23
Other bonds, stocks, and securities_________________ 424,020.00
State, county, and municipal deposits___
213,600.57
Banking house --------------------------------------61,000.00
United States Government and postal
Furniture and fixtures__________________
1.00
savings deposits
____________________
55,000.00
Cash, balances with other banks, includ­
Deposits of other banks, certified and
ing reserve balance and cash items in
cashier’s checks, cash letters of credit
process of collection _________________ 1,308,467.11
and travelers’ checks outstanding_____
66,817.55
Other assets _____________ ;_____________
86.65
Capital account:
Common stock _______________________
150,000.00
Surplus ----------------------------------------------- 150,000.00
Undivided profits—n e t ________________
107,029.99
Reserves --------------------------------------------7,902.93
Total ------------------------------------------------$4,133,861.31


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ------------------------------------------------ $4,133,861.31

NATIONAL BANKS OF M ICHIGAN

273

F IR S T NATION AL BANK IN M ARSH ALL, M ARSHALL.
J u l iu s D. W r i g h t , President; E d w in F. W e b er , Vice President; L eon G. T o l h u r s t ,
Cashier; C a r l L. M il l e r , P au l N o n e m a n , Assistant Cashiers.
D ir e c t o r s .— Harold

C. Brooks, A rthur B. Osborne, Julius D. W right, Jay H. Cronin,
Glen O. Hoffhines, Howard J. Stoddard, W aldo I. Stoddard.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________ ________ $380,105.15
52.58
Overdrafts _____________________________
United States Government obligations,
direct and guaranteed ________________
114,502.50
Other bonds, stocks, andsecurities______
247,663.98
Banking house _________________________
38,000.00
9,500.00
Furniture and fixtures__________________
Reserve with Federal Reserve Bank_____
98,389.88
Cash, balances with other banks, and
cash items in process of collection_____
147,465.86
Cash items not in process of collection-746.00
Other assets ___________________________
12.08

Total ------------------------------------------------ $1,036,438.03

Demand deposits of individuals, partner­
ships, and corporations_______________ $260,307.74
Time deposits of individuals, partnerships,
and corporations _____________________
531,049.84
State, county, and municipal deposits ___ 110,163.91
United States Government and postal
savings deposits _________ ,____________
1,833.18
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,175.49
Capital account:
Class A preferred s to c k _______________
41,000.00
Common stock _______________________
50,000.00
Surplus ______________________________
19,000.00
Undivided profits—n e t ________________
21,172.00
Preferred stock retirement fund_______
735.87
Total

--------------------------------------------$1,036,438.03

THE D ART NATIONAL BANK OF MASON, MASON.
R. C. D ar t , President; D r . O. H. F r e elan d , Vice President; D. C. D art , Cashier; L. M.
S h ea de r , C. L. B ic k e r t , Assistant Cashiers.
D ir e c t o r s .— R. C. Dart, O. H. Freeland, W . S. Rhodes, W . G. Grow, E. A. Densmore,

C. Edgar, E. R. Edgar, C. L. Bashford, D. G. Barr, D. C. Dart.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $717,511.55
Overdrafts _____________________________
6.81
United States Government obligations,
direct and guaranteed ________________
150.00
Other bonds, stocks, and securities_____
26,975.00
Banking house _________________________
10,330.70
Furniture and fixtures__________________
2,144.82
Cash, balances with other banks, and
cash items in process of collection____
243,640.90
Other assets ____________________________
2,793.50

Demand deposits of individuals, partner­
ships, and corporations _______________ $219,918.38
Time deposits of individuals, partnerships,
and corporations _____________________
499,820.46
State, county, and municipal deposits___
145,430.12
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
18,480.85
and travelers’ checks outstanding_____
Capital account:
Common s to c k ________________________
37,500.00
Surplus --------------------------------------- -------37,500.00
Undivided profits—n e t ________________
44,903.47

Total


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,003,553.28

Total

$1,003,553.28

STATE BANKING D EPARTM ENT

274

TH E F IR S T NATIONAL BANK OF MENOMINEE.
G. A. B l e SCH, President; E dw ar d D a n ie l l , Vice President; C l in t o n W. G r a m , Cashier;
A. J. K lc m b , Assistant Cashier.
D ir e c t o r s .-—G. A. Blesch, John E. Henes, Edward Daniell, Clinton W. Gram, R. W. S.

Hoskin.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $379,128.83
Overdrafts ______________________________
2.07
United States Government obligations,
direct and guaranteed ____________ ,___
646,839.75
Other bonds, stocks, and securities_____
472,659.32
Banking house _________________________
31,218.61
Furniture and fixtures__________________
13,357.00
Reserve with Federal Reserve Bank_____
181,306.59
Cash, balances with other banks, and
cash items in process of collection____
412,650.66

Demand deposits of individuals, partner­
ships, and corporations _______________ $485,099.24
Time deposits of individuals, partnerships,
and corporations __________ ___________ 1,178,206.67
92,608.87
State, county, and municipal deposits___
United States Government and postal
savings deposits __________________
7,096.17
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
55,231.19
Other liabilities ____ - __________________
2,340.49
Capital account:
Common stock _______________________
200,000.00
Surplus ______________________________
106,000.00
580.20
Undivided profits—net ________________
Reserves for contingencies____________
10,000.00

Total _______________________________ $2,13'7,162.83

Total ______________ ________________ $2,137,162.83

THE LUM BERM EN’ S NATIONAL BAN K OF MENOMINEE.
H e n ry M a r in , President; H e n r y T. S e t h n e y , Vice President; A. R. N ic h o l s o n , Cashier;
H o w a r d K o c h , Assistant Cashier.
D ir e c t o r s .— E. P. Smith, Lewis Larsen, Henry T. Sethney, Henry Marin, A. C. Wells.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts
__________ ________ $286,621.06
Overdrafts _____________________________
24.48
United States Government obligations,
direct and guaranteed ________________
187,050.01
Other bonds, stocks, and securities_____
445,757.40
Banking house _________________________
64,000.00
Furniture and fixtures__________________
7,345.00
97,562.08
Reserve with Federal Reserve Bank_____
Cash, balances with other banks, and
cash items in process of collection____
198,156.14

Demand deposits of individuals, partner­
ships, and corporations_______________ $386,796.98
Time deposits of individuals, partnerships,
and corporations _____________________
557,066.27
State, county, and municipal deposits___
196,269.08
United States Government and postal
savings deposits ___________________
3,212.62
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
1,694.00
Capital account:
Common stock _______________________
100,000.00
Surplus ______________________ ____I___
31,000.00
Undivided profits—net ______________
8,597.27
Reserves for contingencies____________
1,879.95

Total _______________________________ $1,286,516.17

Total _______________________________ $1,286,516.17


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

NATIONAL BANKS OF M ICHIGAN

275

THE F IR S T NATIONAL BANK OF MONROE.
H. L. R a u c h . P r e s i d e n t ; O. J. G olden . V i c e P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ;
E d m u n d W. R e is ig . C a s h i e r ; R oy C. M e y e r s . S o p h a W a r n e r . A . J. W e ie r . J acob F.
B u n k le m a n . A s s is t a n t C a sh iers.
D ir e c t o r s .

O. J. Golden, H. L. Rauch, H. C. Orvis, A lb e rt H. Lockwood. Sam W. Morris,
E. J. Roggelin, Edmund W. Reisig.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts________ ____________ $723,107.11
Overdrafts __________
301.55
United States Government obligations,
direct and guaranteed ________________
468,164.50
Other bonds, stocks, andsecurities______ 1,083,200.22
Banking house ---------------------38,500.00
4,500.00
Furniture and fixtures__________ ___ ____
Real estate owned other than banking
house ---------------------------------10,000.00
Reserve with Federal Reserve Bank_____
891,926.82
Cash, balances with other banks, and
cash items in process of collection____ 510,092.37
Cash items not in process of collection._
764.10

Demand deposits of individuals, partner­
ships, and corporations _______________ $903,594.62
Time deposits of individuals, partnerships,
and corporations _____________________ 1,960,867.78
State, county, and municipal deposits___
546,416.26
United States Government and postal
savings deposits ______________________
2,650.79
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
21,798.97
Capita! account:
Common stock _______________________
100,000.00
Surplus ______________________________
100,000.00
Undivided profits—net ________________
67,079.70
_______
28,148.55
Reserves for contingencies

Total ---------------------------------- ________ $3,730,556.67

Total ------------------------------------------------$3,730,556.67

TH E PTRST NATIONAL BANK IN MT. CLEMENS.
A. P. G r i m , P r e s i d e n t ; H e n ry B. A m e e l , H a r ry D ie h l , V i c e P r e s i d e n t s ; C. R. W a l t e r s ,
V ic e P r e s i d e n t a n d C a s h i e r ; M. V. R osso, R ay M. M c I n t y r e , G eo . T. B edard , A s s i s t a n t
C a s h ie r s .

D ir e c t o r s .— Henry B. Ameel, Henry Bannow, C. R. W alters, A. P. Grim, Harry Diehl,

Cass Kierblewski, David L. Rouleau. Frank Mulso, George Brandy, James P. McMahon.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts.,____________________ $630,721.21
Overdrafts
_________________________
179.61
United Stales Government obligations,
direct and guaranteed ________________
642,148.55
Other bonds, stocks, and securities_____ 1,151,208.38
Furniture and fix tu re s __ ______________
12,898.82
Real estate owned other than banking
house -------------------------------------------------22,741.55
Reserve with Federal Reserve Bank_____
182,728.65
Cash, balances with other banks, and
cash items in process of collection— — 802,245.44
Other assets ____________________________
2,834.39

Demand deposits of individuals, partner­
ships, and corporations_______________ $636,467.77
Time deposits of individuals, partnerships,
and corporations ____________________ _ 2,064,159.25
State, county, and municipal deposits___
405,523.53
United States Government and postal
savings deposits --------------------18,708.56
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
33,227.88
Capital account:
Class A Preferred s t o c k ______ _______
122,500.00
Class B preferred s to c k _______________
35,000.00
Common s to c k ________________________
50,000.00
Surplus -----------------------25,000.00
Undivided profits—net ______________
6,490.73
Reserves for contingencies____________
35,413.88
Preferred stock retirement fund_____
12,715.00
Reserve for dividend payable in com­
mon stock -- -------------------------------------2,500.00

Total —

— _— --------------------------- -$3,447,706.60


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total ------------------------------------------------$3,447,706.60

STATE BANKING D EPARTM ENT

276

TH E F IR S T NATIONAL BANK OF ALG ER COUNTY, AT MUNISING.
W"m . G. M a t h e r , President; H. R. H a r r is , Vice President;
J. N. K o r p e l a , Assistant Cashier.

O. E. B r o w n , Cashier;

D ir e c t o r s .— Wm. G. Mather, H. R. Harris, O. E. Brown, J. M. Bush, E. F. Bartels,

E. L. Pearce.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts-------------------------------- $172,397.47
United States Government obligations,
direct and guaranteed ________________
122,800.00
252,305.00
Other bonds, stocks, andsecurities---------Banking house --------------------------------------37,500.00
Furniture and fixtures---------------------------2,000.00
Reserve with Federal Reserve Bank-------45,911.79
Cash, balances with other banks, and
cash items in process of collection____ 340,428.64
Cash items not in process of collection—
35.00

Demand deposits of individuals, partner­
ships, and corporations_______________ $295,616.37
Time deposits of individuals, partnerships,
and corporations _____________________
481,055.07
53,739.27
State, county, and municipal deposits----United States Government and postal
savings deposits ______________________
5,000.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding-------1,882.85
Dividends declared but not yet payable
and amounts set aside for dividends not
declared ____ I------------- 1-----------------------250.00
Other liabilities ________________________
19.41
Capital account:
Preferred s t o c k ----------- ---------------.-------25,000.00
50,000.00
Common s to c k ________________________
Surplus _______________________________
45,000.00
Undivided profits—n e t ------------------------15,814.93

T o t a l _____ _________________________

$973,377.90

Total

__ _________________________ - $973,377.90

TH E HACKLEY UNION NATIONAL BANK, OF MUSKEGON.
G eorge L. L e F e v r e , Chairman of the Board ; L. C. W a l k e r , President; H e r m a n C.
W ag n e r , Executive Vice President; W il l i a m J. B r in e n , J o h n Y a n d e r w e r p , Vice
Presidents; J a m e s L. G il l a r d , A l b e r t B u s h , R ic h a r d D. M a n g e , Assistant Vice
Presidents; O sc a r C. O l s e n , Cashier; M e r r it t W . K im b a l l , H a r vey J. F o h l b r o o k ,
Assistant Cashiers; R. F. L in g e l b a c h , Trust Officer.
D ir e c t o r s .— Wm. J. Brinen, George W. Cannon, George L. LeFevre, C. W. Marsh, Fritz

L. Meeske, C. C. Moulton, Ole Peterson, E. FI. Sheldon, Otto A. Seyferth, John Vanderwerp, L. C. Walker, Herman C. Wagner, Ira A. W yant, Geo. A. Hume.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ $1,785,531.29
Overdrafts ____________________________
49.85
United States Government obligations,
direct and guaranteed --------------------1,917,389.44
Other bonds, stocks, and securities----1,709,405.52
Banking h o u s e -------- --------------------------761,369.37
Furniture and fixtures -----------------------62,266.09
Real estate owned other than banking
house ------------143,955.35
Reserve with Federal Reserve Bank--2,043,135.98
Cash, balances with other banks, and
cash items in process of collection.— 1,862,611.94
Cash items not in process of collection
1,242.74
Other assets ---------------4,888.60

Demand deposits of individuals, part­
nerships, and corporations _________ $3,539,102.51
Time deposits of individuals, partner­
ships, and corporations -------------------4,604,309.12
State, county, and municipal deposits __
798,778.74
United States Government and postal
savings deposits ------------------------------34,250.04
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
219,343.29
Interest, taxes, and other expenses ac­
crued and unpaid ---------------------------28,226.89
Dividends declared but not yet payable
and amounts set aside for dividends
not declared _________________________
30,000.00
Capital account:
Common s t o c k ____________________
600,000.00
Surplus ___________ ______________
225,000.00
Undivided profits—-net _____________
212,835.58

Total ___________________ _________ $10,291,846.17


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _____________________________ $10,291,846.17

NATION AL BANKS OF M ICHIGAN

277

TH E NATIONAL LUM BERM AN’ S BANK OF MUSKEGON.
J. G. E m e r y , J r .,
P r e sid e n t;
A ssista n t

P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; E . A . L a r s e n , E x e c u t i v e V i c e
G u s H . D i e t r i c h , C a s h i e r ; E . W. B o ye r , J. N. D y k e m a , H . A . A n d e r so n ,

C a s h ie r s .

D ir e c t o r s .— Paul R. Beardsley, Harry E. Brown, Gilbert C. Chaddock, Gus H. Dietrich,

J. G. Emery, Jr., Edward C Farmer, Thomas H. Hume, Erwin A. Larsen, George B. M.
Towner, Harold McB. Thurston.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $1,636,250.18
Overdrafts _____________________________
121.84
United States Government obligations,
1,696,988.68
direct and guaranteed__________
Other bonds, stocks, and securities_____ 1,771,924.69
Banking house _________________________ 310,926.47
Furniture and fixtures_____ ____________ _
32,225.02
Real estate owned other than banking
house --------------------------------------------------177,913.91
Cash, balances with other banks, includ­
ing reserve balance and cash items in
process of collection ______
1,139,563.13
2,369.18
Other assets ____________________________

Total

Demand deposits of individuals, partner­
ships, and corporations ______________ $1,790,727.69
Time deposits of individuals, partnerships,
and corporations ____________________ 3,773,143.75
State, county, andmunicipal deposits___ 361,462.09
United States Government and postal
5,000.00
savings deposits ______________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checksoutstanding-.-___
122,375.33
Other liabilities ____________________J"__
2,550.00
Capital account:
Class A preferred stock _____________ _ 343,000.00
Class B preferred s to c k ___________________________ 50,000.00
Common s to c k ________________________
150,000.00
50,000.00
Surplus ______________________
Undivided profits—net ________________
50,518.36
Reserves and retirement account for
preferred stock _____________________
69,505.88

$6,768,283.10

Total

$6,768,283.10

THE F IR S T NATIONAL BANK OF NEGAUNEE.
Jos. H. W in t e r ,

A. F. M a it l a n d , V i c e P r e s i d e n t ; G. S h e r m a n
J o h n J. B eldo , M. G. D e G a b r ie l e , A s s i s t a n t C a s h i e r s .

P r e s id e n t ;

C a sh ie r ;

C o l l in s ,

D ir e c t o r s .— A. F. Maitland, Jos. H. W inter, A. P. Johnson, G. Sherman Collins, S. R.

E lliott.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $825,586.71
O verdrafts_____ ______________ :______ _
2,254.59
United States Government obligations,
direct and guaranteed ________________
534,533.75
Other bonds, stocks, and securities____ 1,108,812.75
Banking house ____________________
13,000.00
Reserve with Federal Reserve B ank_____ 217,886.87
Cash, balances with other banks, and
cash items in process of collection____
175,002.52
Other assets ____
26,387.13

Demand deposits of individuals, partner­
$401,917.46
ships, and corporations_____________
Time deposits of individuals, partnerships,
and corporations _____________________ 2,030.796.57
State, county, and municipal deposits ___ 153,527.28
United States Government and postal
savings deposits ______________________
4,230.29
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
10,463.55
Interest, taxes, and other expenses ac­
crued and unpaid ______ ______________
4,486.55
Other liabilities ___ ___________________
4,831.36
Capital account:
Common s to c k ________________________
100,000.00
Surplus ______________________________
150,000.00
Undivided profits—net _______________
35,121.77
Reserves for contingencies____________
8,089.49

Total _______________________________ $2,903,464.32

Total ---------------------- -------- ----------------$2,903,464.32


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING D EPARTM ENT

278

F IR S T NATIONAL BANK OF NILES, NILES.
E. E. B a r b e r , President; C. E. W h i t e , Vice President; P. S. F a r q u h a r , Vice President
and Cashier; A . E. Z o rd el , Assistant Cashier.
D ir e c t o r s .— E. E. Barber, N. P. Beebe, A. S. Bonner, C. E. Geideman, H. O. Parker,

W. Saathoff, C. E. White, Jerry Tyler, P. S. Farquhar.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $448,272.58
United States Government obligations,
direct and guaranteed _______________
313,990.83
Other bonds, stocks, andsecurities______
456,972.08
Banking house
_______
24,595.69
Furniture and fixtures _________________
2,452.02
138,450.42
Reserve with Federal Reserve Bank___ _
Cash, balances with other banks, and
cash items in process of collection _ __ 267,332.74
Cash items not in process of collection _
789.56
Other assets ___________________________
310.47

Demand deposits of individuals, partner­
ships, and corporations _______________ $642,316.34
Time deposits of individuals, partnerships,
and corporations_____________
579,519.35
State, county, and municipal deposits___
241,511.56
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
17,641.78
Interest, taxes, and other expenses ac­
crued and un p aid _____________________
71.79
Capital account:
Common s to c k _____________
100,000.00
37,500.00
Surplus _______________________________
Undivided profits—n e t ________________
31,292.00
Reserves for contingencies _______ - _—
3,313.57

Total __________________________ ____ $1,653,166.39

Total _______________________________ $1,653,166.39

THE FIR S T NATIONAL BANK OF NORWAY.
A r v id

E. A s p , President; U. F. A s s e l i n , Vice President; V. S. N y s t r o m , Cashier;
A n drew M a r t i n i , R. R. W i l l s , Assistant Cashiers.

D irectors .— A rvid E. Asp, U. F. Asselin, J. E. Anderson, V. S. Nystrom, Otto Marinelli.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts _________ __________ $139,471.23
United States Government obligations,
direct and guaranteed ________________
319,400.00
Other bonds, stocks, and securities_____
251,673.99
Banking house ____
31,200.00
Furniture and fixtures___________________
6,000.00
Reserve with Federal Reserve Bank_____
114,910.75
Cash, balances with other banks, and
cash items in process of collection____
108,461.47
Other assets ____________________________
3,150.00

Demand deposits of individuals, partner­
ships, and corporations ______________ $149,355.88
Time deposits of individuals, partnerships,
and corporations _____________________
621,869.72
State, county, and municipal deposits___
80,809.94
United States Government and postal
savings deposits ______________________
1,035.23
Other liabilities _______________
882.40
Capital account:
Common s to c k _______________________
75,000.00
Surplus ______ ._____________________ __
30,000.00
Undivided profits—n e t ________________
5,314.27
Reserves for contingencies ___________
10,000.00

Total _________________ _____________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$974,267.44

T o t a l _____ ______________ , _________

$974,267.44

NATION AL BANKS OF MICHIGAN

279

THE F IR S T NATIONAL BANK IN ONTONAGON.
C lau de I). R il e y , P r e s i d e n t ; L a u ren c e E. C h a b o t , C a s h i e r a n d V i c e P r e s i d e n t ; H ugo S.
B igge , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— E. J. Emmons,

C. J. Crooker, Claude D. Riley, E. J. Evans, Frank H.
Speese, Laurence E. Chabot.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $173,627.04
United States Government obligations,
direct and guaranteed ________________
30,806.25
Other bonds, stocks, and securities_____
54,109.88
14,040.00
Banking h o u s e ___ ___________________
Furniture and fixtures _________________
3,379.83
Cash, balances with other banks, includ­
ing reserve balance and cash items in
process of collection __________________
115,280.50

Total ------------------------------------------------ $391,243.50

Demand deposits of individuals, partner­
ships, and corporations ______________
Time deposits of individuals, partnerships,
and corporations ________________
State, county, and municipal deposits___
United States Government and postal
savings deposits _______ ;______________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Class A preferred s to c k _______________
Common stock _______________________
Surplus ---------------------------------------------Undivided profits—net ________________

$94,982.83
177,393.65
43,312.48
2,054.17
16,260.78
12,500.00
37,500.00
5,000.00
2,239.59

Total ------------------------------------------------ $391,243.50

TH E F IR S T NATION AL BANK OF PETOSKEY.
C h a l m e r s C u r t is , P r e s i d e n t ; H eber W . C u r t is , Fice P r e s i d e n t ; T . C h a l m e r s C u r t is ,
C a s h i e r ; W . B r a dle y L a w t o n , J ean A . M u r p h y , C. F r e d e r ic k C u r t is , A s s i s t a n t
C a sh iers.

D ir e c t o r s .— Guy R . Hankey, Chalmers Curtis, T. Chalmers Curtis, C. Frederick Curtis,

Heber W. Curtis.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $618,753.36
Overdrafts ________ _____ _______________
’ 21.66
United States Government obligations,
direct and guaranteed ________________ 2,091,367.20
Other bonds, stocks, and securities____
129,874.94
Banking house _________________________
8,400.00
Furniture and fixtures__________
3,154.69
Real estate owned other than banking
house -------------------------------------------------1,003.25
Reserve with Federal Reserve Bank_____
333,147.07
Cash, balances with other banks, and
cash items in process of collection____
129,671.75
Other assets ____________________________
1,453.10

Demand deposits of individuals, partner­
ships, and corporations _______________ $706,646.80
Time deposits of individuals, partnerships,
and corporations___ __________________ 2,016,182.72
State, county, and municipal deposits___
190,123.36
United States Government and postal
savings deposits ______________________
7,719.34
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding____ 36,708.55
Capital account:
Common s to c k ________________________
100,000.00
Surplus ----------------------------------------------- 100,000.00
Undivided profits—n e t ________________
159,466.25

Total -------------- --------------------------------- $3,316,847.02

Total ------------------------------------------------$3,316,847.02


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

STATE BANKING DEPARTM ENT

280

F IR S T NATIONAL BANK IN PLYMOUTH.
J o h n L. O l s a v e r , C h a ir m a n o f t h e B o a r d ; F loyd A. K ichrl , P r e s i d e n t ; R u s s e l l A. R oe^
V i c e P r e s i d e n t ; J a c k E. T a y l o r , C a s h i e r ; M ar ga ret D u n n in g , A s s i s t a n t C a s h ie r .
D ir e c t o r s .— Arthur E. Blunk, J. L. Olsaver, Russell A. Roe, Floyd A. Kehrl, George H.

Robinson, C. L. Finlan.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $298,916.91
Overdrafts ____________
15.09
United States Government obligations,
direct and guaranteed ________________
277,498.63
126,665.31
Other bonds, stocks, and securities_____
Banking house, furniture and fixtures _
5,800.00
Real estate owned other than banking
house _— ___________________________
3,017.53
Cash, balances with other banks, and
cash items in process of collection___
177,638.50

Demand deposits of individuals, partner­
ships, and corporations_______________ $225,786.54
Time deposits of individuals, partnerships,
and corporations _______________ ._____
532,843.28
State, county, and municipal deposits___
41,903.47
United States Government deposits______
1,016.68
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
9,290.89
and travelers’ checks outstanding____
Other liabilities _____________________
6,692.68
Capital account:
Common stock _______________________
50,000.00
Surplus ______________________________
10,650.00
Reserves for contingencies____________
11,368.43

Total __________ =._________ _________

$889,551.97

Total _______________________________

$889,551.97

COMMUNITY NATIONAL BANK OF PONTIAC.
A lfred C. G irard , P r e s i d e n t ; C arl H . P elton , V i c e P r e s i d e n t ; N. W m . P eterson , V i c e
President; R obert R. E ldred, Cashier; B. J. G reer, L eo P. A t k i n s , J o h n P. N igge m a n , C larence J. N ephler , J r ., C arroll L. O s m u n , Assistant Cashiers; W . A rthur
T aylor , Auditor.
D irectors .— A lfred C. Girard, W. Russell Eames, V ictor E. Nelson, A lfred R. Glancy,

Jr., Carl H. Pelton, Harry J. Klinger, David R. W ilson.

Statement December 31, 1938.
ASSETS
Loans and discounts___________________
Overdrafts ___________________________
United States Government obligations,
direct and guaranteed______________
Other bonds, stocks, and securities___
Furniture and fixtures _______________
Reserve with Federal Reserve Bank___
Cash, balances with other banks, and
cash items in process of collection__
Cash items not in process of collection
Other a ssets__________________________

LIABILITIES
$2,497,353.52
.30
4,296,797.01
3,182,333.05
18,483.23
1,111,457.10
1,578,670.59
176.07
75,665.12

Total _____________________________ $12,760,935.99


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Demand deposits of individuals, part­
nerships, and corporations
______ $4,138,664.59
Time deposits of individuals, partner­
ships, and corporations _____________
4,237,488.27
State, county, and municipal deposits__
3,293,350.67
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
132,707.83
Interest, taxes, and other expenses ac­
crued and unpaid __________________
17,938.54
Dividends declared but not yet payable
and amounts set aside for dividends
not declared _______________________
10,290.00
Other liabilities ______________________
29,944.95
Capital account:
Class A preferred s to c k _____________
186,000.00
Common s to c k ______________________
300,000.00
Surplus ____________________________
150,000.00
Undivided profits—n e t ______________
75,000.00
Reserves for contingencies
______
150,551.14
Preferred stock retirement fund____
35,000.00
Reserve for dividend payable in com­
mon s to c k ________________________
4,000.00
Total ---------------------------------------------$12,760,935.99

NATIONAL BANKS OF MICHIGAN

281

F IR S T NATIONAL TRU ST AND SAYINGS BANK OF PO RT HURON.
S. A. G r a h a m ,

A. D. B e n n e t t , V i c e C h a ir m a n o f t h e B o a r d ; L. S. W il s o n ,
F. J. M c C a b e , A s s i s t a n t V i c e P r e s i d e n t ; R. T. J a c k s o n , C a s h i e r ;
G. F. C o l l in s , A. D. A d a m s , L. R. M o r to n , E. N. B r a n a g a n , H. M. T h o m a s , H. W.
M a it l a n d , F. C. W e l l m a n , A s s i s t a n t C a s h i e r s ; I ra B r ic k e r , T r u s t O f f i c e r ; D. W.
V ic e

P r e sid e n t;

P r e s id e n t;

H o s t e t t e r , A s s i s t a n t T r u s t O fficer.
D ir e c t o r s .— J. A. Anderson, F . W. Andreae, A . D. Bennett, S. A. G rah am , David Mac-

Taggart, J. M. M acTaggart, Henry Marx, H. L. Stevens, H. J. Stoddard, L. A. Weil,
L. S. Wilson.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts___________________ $4,895,590.98
31.48
Overdrafts _______________________ ____
United States Government obligations,
direct and guaranteed _____________
2,606,320.68
2,136,116.74
Other bonds, stocks, andsecurities____
Banking house ________
390,000.00
Furniture and fixtures _____
65,034.66
Real estate owned other than banking
house _______________________________
298,998.39
848,137.12
Reserve with Federal Reserve Bank___
Cash, balances with other banks, and
cash items in process of collection____
1,558,877.89
Cash items not in process of collection
1,761.51
Other assets__________________________
158,217.51

Demand deposits of individuals, part­
______ $2,765,250.76
nerships, and corporations
Time deposits of individuals, partner­
ships, and corporations _____________
6,735,487.02
State, county, and municipaldeposits— 1,397,986.38
United States Government and postal
savings deposits ____________________
345,372.56
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
247,092.88
and travelers’ checks outstanding___
Interest, taxes, and other expenses ac­
crued and unpaid __________________
23,074.49
Dividends declared but not yet payable
and amounts set aside for dividends
not declared________________________
10,534.33
Other liabilities ______________________
26,522.06
Capital account:
Class A preferred s to c k _____________
490,000.00
300,000.00
Class B preferred s to c k _____________
Common s to c k __________________ ____
205,000.00
Surplus_____________________________
100,000.00
138,961.38
Undivided profits—n e t ______________
Reserves for contingencies__________
106,717.42
Preferred stock retirement fund____
62,087.68
Reserve for dividend payable In com­
mon s t o c k _______________________________ 5,000.00

Total _____________________________ $12,959,086.96

Total _____________________________ $12,959,086.96

THE F IR S T NATIONAL BANK OF QUINCY.
C. D. M c K e n z ie , P r e s i d e n t ; G. B. H o u g h t a l in g , V i c e P r e s i d e n t ; R. S. A n d r u s , C a s h i e r ;
L in d se y B a k e r , C. T. F il l m o r e , A s s i s t a n t C a s h i e r s .
D ir e c t o r s .— R. S. A n d ru s, L. A . B a rron , G. B

H ou g h ta lin g , C. D . M cK enzie, F . A . B oley ,

Lindsey Baker.

Statement December 31, 1938.
LIABILITIES

ASSETS
Loans and discounts___________________ $116,835.42
United States Government obligations,
direct and guaranteed ----------85,315.61
Other bonds, stccks, and securities_____ 126,926.05
Banking house _________________________
2,045.26
Furniture and fixtures__________________
2,047.90
Reserve with Federal Reserve Bank_____
38,840.19
Cash, balances with other banks, and
cash items in process ofcollection______
34,266.01

Total _______________________________


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$406,276.44

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _______________________
Surplus ______________________________
Undivided profits—net ________________
Total _______________________________

$95,351.48
190,217.84
45,963.87
11,506.54
50,000.00
10,000.00
3,236.71
$406,276.44

STATE BANKING D EPARTM ENT

282

TH E NATION AL BANK OF RICHMOND, RICHMOND.
C h a r l e s B. L u t e s , P r e s i d e n t ; M e l v in H. W e e k s , V ic e P r e s i d e n t ; A. F. L in d k e , C a s h i e r ;
H a z e l V. W i l l i a m s , I r e n e B r e e s e , A s s i s t a n t C a s h ie r s .
D ir e c t o r s .— Chas. W. Fuerstenau, Wm. B. Hunt, Charles B. Lutes, Lee Van Inwagen,

Melvin H. Weeks.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts ___________________ $273,556.17
United States Governmentobligations,
direct and guaranteed _______________ ._ 270,075.00
Other bonds, stocks, andsecurities_____
231,790.20
Banking house __________
21,000.00
2,000.00
Furniture and fixtures ____________
Cash, balances with other banks, includ­
ing reserve balance and cash items in
process of collection __________________
234,752.31

Total ______________________________ $1,033,173.68

Demand deposits of individuals, partner­
ships, and corporations _______________
Time deposits of individuals, partnerships,
and corporations _____________________
State, county, and municipal deposits___
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
Capital account:
Common stock _________ ,_____________
Surplus ______________________________
Undivided profits—net _______________
Reserves and retirement account for
preferred stock _____________________

$86,497.61
736,157.50
87,506.67
11,380.19
50,000.00
30,000.00
11,631.71
20,000.00

Total ______________________________ $1,033,173.68

TH E RO CHESTER NATIONAL BANK, ROCHESTER.
H e n r y W . A x f o r d , P r e s i d e n t a n d C h a ir m a n o f t h e B o a r d ; A . R. D i l l m a n , V i c e P r e s i ­
d e n t ; M. H. H a s e l s w e r d t , C a s h i e r ; C. W. S h e p a r d , A s s i s t a n t C a s h i e r .
D ir e c t o r s .— Henry W . A xford, Parke F. Cutting, A. R. Dillman, Paul C. Heenan, G. R.

Brooks, Roy G. Upton.

Statement December 31. 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $418,987.29
United States Government obligations,
direct and guaranteed____________ ____
265,300.00
Other bonds, stocks, and securities_____
454,795.00
Furniture and fixtures _________________
6,000.00
Reserve with Federal Reserve Bank____
99,173.18
Cash, balances with other banks, and
cash items in process of collection____
111,497.98

Demand deposits of individuals, partner­
$312,975.09
ships, and corporations___ :__________
Time deposits of individuals, partnerships,
and corporations_______________
748,880.41
State, county, and municipal deposits___
186,664.08
Capital account:
Class A preferred stock ______________
25,000.00
Common s to c k ________________________
25,000.00
Surplus ______________________________
22,500.00
Undivided profits—net ________________
23,483.87
Reserves for contingencies ____________
5,000.00
Preferred stock retirement fund_______
6,250.00

T o t a l ----- _____________________ _____ $1,355,753.45

Total _______________________________ $1,355,753.45


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

NATIONAL BANKS OF MICHIGAN

283

SECOND NATIONAL BANK AND TRU ST CO. OF SAGINAW.
R. P er ry S h o r t s , P r e s i d e n t ; T. M. M o r l e y , J. A. S t e w a r t , V i c e P r e s i d e n t s ; R ay T.
M a y n a r d , V i c e P r e s i d e n t a n d C a s h i e r ; J o h n J. S p e n c e r , E. L. D e ib e l , E. L. S c h r e in e r ,
C. E. P r e s s l e r , A s s i s t a n t C a s h i e r s ; C. A. T h o m p s o n , A u d i t o r ; E m ir A. T e s s i n , V i c e
P r e s id e n t

and

T ru st

O fficer.

D ir e c t o r s .— Frederick Carlisle, W ill A. Brewer, Wm. W. Crapo, Arnold Lenz, Elmer J.

Cornwell, R. Perry Shorts, George H. Boyd, John W. Symons, Jr., Ray T. Maynard,
R. C. Morley, Max P. Heavenrich, George C. Eastwood, E. A. Tessin, R. C. M orley, Jr.,
Amasa M. Rust.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts__________________
Overdrafts ____________________________
United States Government obligations,
direct and guaranteed ______________
Other bonds, stocks, and securities___
Banking house _________________
Real estate owned other than banking
house _____________
Reserve with Federal Reserve Bank__
Cash, balances with other banks, and
cash items in process of collection__
Cash items not in process of collection
Other assets _____

$4,834,488.24
1,272.82
10,563,805.27
8,188,924.49
1,185,475.00
50,447.10
2,325,437.94
4,780,027.52
2,416.35
121,583.88

Total ________________________ ____ $32,053,878.61

Demand deposits of individuals, part­
nerships, and corporations _________
Time deposits of individuals, partner­
ships, and corporations_____________
State, county, and municipal deposits United States Government and postal
savings deposits ___________________
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding___
Interest, taxes, and other expenses ac­
crued and unpaid __________________
Capital account:
Common stock _____________________
Surplus ____________________________
Undivided profits—net _____________
Reserves for contingencies _________

$9,307,623.19
14,162,095.56
3,997,601.16
34,728.53
933,429.48
201,595.05
1,250,000.00
1,250,000.00
375,949.43
540,856.21

Total ---------------------------------------------$32,053,878.61

THE FIR S T NATIONAL BANK OF ST. IGNACE.
P. M. B r o w n ,

P r e sid e n t;

D ir e c t o r s .— P.

M. Brown, J. E. Quinn, J. P. Fenlon, Peter Goudreau, O. W. Lang,
Jas. McGraw, H. A. Powers.

P ete r

Goudreau, V ic e

P r e s id e n t;

H. A. P o w e r s ,

C a s h ie r .

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts____________________ $153,118.61
Overdrafts _____________________________
5.14
United States Government obligations,
direct and guaranteed ________ ______ 262,871.83
Other bonds, stocks, and securities_____
161,520.25
Banking house ____
12,000.00
Furniture and fixtures _________________
4,000.00
Reserve with Federal Reserve Bank_____
59,789.72
Cash, balances with other banks, and
cash items in process of collection___ _ 130,645.45

Demand deposits of individuals, partner­
ships, and corporations _________
$246,760.31
Time deposits of individuals, partnerships,
and corporations _____
_ ______ _ 376,151.55
State, county, and municipaldeposits __
85,749.26
United States Government and postal
savings deposits ______________________
6,150.00
Deposits of other banks, certified and
cashier’s checks, cash letters of credit
and travelers’ checks outstanding_____
830.11
Capital account:
Common stock _______________________
50,000.00
Surplus ______________________________
12,000.00
Undivided profits—net ________________
4,025.63
Reserves for contingencies
_______
2,284.14

Total ----------------------------------------------- $783,951.00


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total _______ _______________________

$783,951.00

284

STATE BANKING D EPARTM ENT
THE ST. JOHNS NATIONAL BANK, ST. JOHNS.

L ee

A. D e W i t t ,

P r e s id e n t

and

S. L. M a r s h a l l , V i c e P r e s i d e n t ; W m . M. L u e c h t , V ic e
R e x C. S ir r in e , T h o s . E. C o r k in , L eo P . S n it g e n , A s s i s t a n t

P r e s id e n t;
C a sh ier;

C a sh iers.

D ir e c t o r s .— Wm. M. Luecht, Robert G. A llison, Lee A. DeW itt, S. L. Marshall, C. D.

Ebert, Thos. E. Corkin.

Statement December 31, 1938.
ASSETS

LIABILITIES

Loans and discounts_____________________ $321,473.24
Overdrafts __________________
167.46
United States Government obligations,
direct and guaranteed _______________
506,883.35
Other bonds, stocks, andsecurities______
221,228.50
Banking house _________________________
30,000.00
Furniture and fixtures ____
500.00
Real estate owned other than banking
6,434.64
house ________________________________
Reserve with Federal Reserve Bank_____
298,295.74
Cash, balances with other banks, and
cash items in process of collection_____
222,796.07
Cash items not in process of collection—
1,08