Full text of The Northwestern Banker : April 1902, Volume VII, Number 4

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Contents.

<S®

Iowa N at’l Bank,

Page.

D E S M O I N E S , IOtaZH,
Io w

Statem ent F e b ru a ry 25, 1902:

C o n v e n t io n N

a

B a n k in g L

R esou rces:
Loans and Discounts.................................#1,197,764.95
Overdrafts ..................
3,558.09
U. S. Bonds and Premiums...... ........
203,562.50
Cash and Due from Banks........... 5 4 7 ,4 1 3 .1 4
#1,952,298.68

Total.

5

otes,

T h e Sit u a t io n ,

6

Proposed Ch anges

.. .

Humber If

Des Moines, Iowa, April, 1902.

Volume VIT.

a w

,

T

ortgage

Sh

aw

6
B

g a in s t

,

a x a t io n

B ank Robbery M

-

. L ia b ilitie s :

$1,952,298.68

Total.

Change
t io n a l

N

ew

T

h ose

N

R

O

in

Ban k s,

e s e r v e

orthw estern

H

eartless

Dakota N ew s

Deposits:
1899—
Februaey 25..............................$ 395,74°-75
1900—February 25
............................. 474,09050
1902—February 25................. . . 1,7 4 8 ,7 9 6 9 8
H. S. B U T L E R , President.
H. T . B L ACK B UR N , Vice President.
L E L A N D W INDSOR , Cashier.

N

ebraska

M

in n e s o t a

N

and

N

e w s and

-

-

D e s M o i n e s . Io w a

otes

12

18

-

-

otes

N

11

for

Bankers
otes

U. S. DEPOSITORY.

­

-

Banks
N

a

-

g e n t s

ew s and

N

N

of

A

-

f f i c e r s

9
10
10
11

-

Bond Pu rch ases,

on

8

-

A l l B a n k s In v o l v e d ,

Capital Stock............................................ # 100,000.00
Undivided Profits.......................
3,619.77
National Bank Notes Outstanding___
99,500.00
Real Estate.........
381.93
Deposits ...............................1, 7 4 8 , 7 9 6 . 9 8

anks,

E asy,

ade

ational
an

ebraska

-

B l in d P r e j u d ic e A
M

N

in

-

'

-

Io w a N e w s a n d N otes Po s it io n s W a n t e d , B a n k s
F o r Sa l e , E tc
S p e c ia l L is t o f I o w a B a n k s
S p e c i a l L is t M i n n e s o t a B a n k s ,
S p e c i a l L is t I o w a L a w y e r s ,
-

14
16
19
21

84

s200.000.00
100.000.00

C a p it a l .
S urplus,

J . G R O U N D S , P R E S ID E N T .
J. C A L L A N A N , V IC E -P R E S ID E N T .
G E O . E . P E A R S A L L , C A S H IE R .
G E O . C O O P E R , A S S 'T C A S H IE R

87

39
39

ACCOUNTS

S O L IC IT E D .

Thz Bankers National Bank, Davenport Savings Bank,
DAVENPORT, IOWA.

Marquette Building, CHICAGO, ILL.

. fil

Capital, • ■ $1,000 , 000 .
E. S. L A C E Y ,
GEO. S. LORD, JOHN C. CR AFT,
F R A N K P. JUDSON,
J. C. M cNAUGH TON,

-

¡¡g

P r e s id e n t .
V ic e -P r e s i d e n t .
C a s h ie r .
A ss’t . C a s h ie r .
A s s ’ t . C a s h ie r .

<5~>L_®

S~> '9

Í CAPITAL, - - - $ 3 0 0 ,0 0 0 .0 0
« UNDIVIDED PROFITS,
8 5 ,5 3 5 .0 8 #
3 DEPOSITS, - - - 3 ,6 9 7 ,4 5 7 .6 9 3

jtjt

» » » Officers « « «

Comparative Statement, Showing Increase in Deposits.

A N TH O N Y BURDICK, President.
LOUIS HALLER, Vice-President.
HENRY C. STRUCK, JR., Cashier.
O T T O L. LADENBERGER, T e ll e r

Deposits Dec. 10, 1896,

$ 3 ,2 3 6 ,0 1 .8 3

Deposits Dec. 10, 1897,

6 ,0 0 0 ,3 9 8 .7 7

Depósits Dec. 10, 18 98,

6 ,9 5 7 ,9 4 2 .7 6

Deposits Dec. 10, 1899,

8 ,7 1 7 ,0 0 7 .5 3

Deposits Dec. 10, 1900,

1 0 ,8 5 0 ,1 8 0 .4 4

Deposits Dec. 10, 1901,

12,770,935.33

N e w B u s in e s s D esired and
U n e x c e lle d F a c ilitie s O ffe re d .

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Federal Reserve Bank of St. Louis

» » » Directors * « «
A. B u r d ic k
L o u is H a l l e r ,
A. St e f f e n ,
W . O. S c h m id t
T hom as Sc o t t ,
J. F . D o w ,
H. K o h r s ,
W . H. W il s o n ,
H. C. S t r u c k , J r .

««*

4

Per cent interest paid on deposits.
Money loaned on real estate security
in the State of Iowa.

THE

2

NORTHW ESTERN

April, 1902.

BANKER.

T H E jtjt

m )2

BEST BANKERS’

Commercial
/Rational. .

î

PUBLICATIONS.

».

ffiank

lished 1846.

th e c ir c u la t io n o f a n y o th e r b a n k e r s ’ p u b lic a t io n
in th e U n ite d s ta te s . Advertising rates low consid

C h ic a g o , I l l in o is

ering the large circulation guaranteed.
Rhodes’ Journal of Banking and the Bankers’ Maga­
zine have been consolidated.

E S T A B L IS H E D , 1 8 6 4 .

Capital,

$2,000,000.00

Surplus,

-

$1,000,000.00

O F F IC E R S .
J a m e s H . E c k e l s , Presid en t.

D a v i d V e r n o n , 2d Vice-Presid en t.

J o h n C. M c K e o n , Vice-President.

Oldest bankers’ publica­
tion in America. EstabTerms, $5.00 a year. H a s o v e r d o u b le

The Bankers’ Magazine.

J o se p h T . T a l b e r t , Cashier'

N . R L o s c h , Assistant Cashier.

Practical Banking. (“

iu^

P“

S m°g y

years Cashier of the State National Bank of Boston.
“ The best book on Banking in the English language ”
Price, $5.00 a copy, or to Bank Clerks, $3.00 a copy,
when ordered in lots of ten copies or over.
Issued in January and
July —corrected to date.
Price, with marginal index, $4.00 a copy; both
editions, $7.00. Plain, $3 00 a copy; $5.00 a year.

The Bankers’ Directory.

BRADFORD RHODES & CO.
8 7 M a id e n Liane, N E W

D IR E C T O R S .
F r a n k l in M a c V e a g h ,

Je sse Sp a l d in g ,

E . H. G ar y.
W

il l i a m

J C h alm ers,

YORK.

P U B L IS H E R S .

N. K . F a i r b a n k ,

P aul Morto n ,
R o b e r t T. L in c o l n ,

AMES H. E c k e l s ,

N O T IC E .—Orders for the Bradford Rhodes & C o.’s Bankers’ Publica­
tions received at publishers’ rates by T h e N o r t h w e s t e r n B a n k e r , Des
Moines, Iowa.

Jo h n C . M c K e o n

J___________ _________________________________________ : ____
(ÇI* * 4 M * M 4 * * * * * * * MLt * * 4 L * tA Vt M 0 4A 4 L *

C APITA L

$ 1 0 0 ,0 0 0 .

M ilw a u k e e & S t. P au l

M O * *4 » * Vt *4 *4 L * * 4 1 * L t * 4 * * * * * * * * * *

SURPLUS, $ 4 0 .0 0 0 .

E S T A B L IS H E D I S 7 0

Merchants National Banh

RAILWAY

of

BURLINGTON. IOWA

O W NS AND O PERATES

6 , 60 « Ihilcs of thoroughly equipped Road.
I o w a .....................................................
W is c o n s in ..........................................
S o u th D a k o ta ...................................
M in n e s o ta -........................-..............
I l l i n o i s ................................................
U p p e r P e n in s u la of M ic h ig a n
M is s o u r i.............................................
N o rth D a k o ta ...................................
N e b ra s k a

1,7 90 m les.
1 ,6 7 0
1,225
I, I 2 9
360
160
I 46

I 18

Electric Lighted Trains.
Equipment and Service Unequaled.

Time tables, maps and information furnished
on application to
F.

A.

Mil l e r ,


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Federal Reserve Bank of St. Louis

General Passenger Agent, Chicago.

rmrrm

The CHICAGO,

.

T. W , B A R H Y D T , P r e s i d e n t .
W . E. B L A K E , V i c e -P r e s i d e n t .
J. L. E D W A R D S , C a s h i e r .
H. J. H U N G E R F O R D , A s s t . C a s h .

S E N D U S Y O U R C O L L E C T IO N S ,

fcír*r*r*««** t*r*í'*r»«»*«*■***«*****•*r**-*««*■**•**■*r*r»írír*«*'*rr*'*rr*'*;¿3

HENRY L TOLMAN,

M ICROSCOPIST.
Microscopical and Chemical Exam ina­
tions of Forged or Altered Documents; of
adulterations of Food, and of Blood Stains,
Textile Fabrics, Woods and Minerals. Pho­
tographs and Enlargements made when
desired.
RO O M 9 2 9 , C H IC A G O O PER A H O U S E B U IL D IN G

C hicago.

April, 1902.

THE

THE
FIRST
NATIONAL
BANK,

NORTHW ESTERN

T r a v e l e r ’ s C r e d it s issued,
availab le in any p art of the world.
T r a n s f e r s o f Mo n e y Ma d e
b y T e l e g r a p h and C a b l e and
E x c h a n g e D r a w n at customary
usance, on the principal cities of
the United States, Europe, Japan,
China, and the East Indias.
All kinds of F ir s t -C l a s s I n ­
v e s t m e n t S e c u r i t i e s dealt in
constantly on hand and for sale at
current rates; a full line of G o v ­
e r n m e n t B o n d s , Municipal andLocal Bonds, Choice Railroad
Bonds.
Collections carefully made and
proceeds promptly accounted for
on moderate terms. Accounts of
banks and bankers solicited.

© F G H ie R G © .
Corner Monroe and
Dearborn Streets.

PEOPLE'S SAVINGS BANK,
DES MOINES, IOWA.
CAPITAL—$100,000.
SPECIAL ATTENTION TO IOWA COLLECTIONS.

W

*$•

CAPITAL,
and

SU RPLU S,

$ 8, 000,000.
A REGULAR BANKING
BUSINESS TRANSACTED,

3

..T H E

Report of Condition, Auditor's Call, Dee. 10,1001,

BANK OFFICERS:
J a m e s B. F o r g a n ,
President.
D a v i d R. F o r g a n ,
Vice-President.
G eorge D . B oulton ,
Vice-President.
R ic h a r d 1 . S t r e e t ,
Cashier.
H olm es H o g e ,
Assistant Cashier.
A ugust B l u m ,
Assistant Cashier.
F r a n k E. B r o w n ,
Assistant Cashier.
C h a r l e s N. G i l l e t t ,
Assistant Cashier.
F r a n k O. W e t m o r e ,
Auditor.
E m il e K . B o i s o t ,
Manager Bond Department.
Jo h n E . G a r d i n ,
Mgr. Foreign Exchange Dep’ t.
Ma x M a y .
Asst. Mgr. For’n Exchange Dept.

BANKER

« « Resources« «
Loans and Discounts..............................................................
Cash and Sight Exchange.....................................................
Real E sta te ............................
Furniture and fixtures............................................................
T o ta l............................................... ............................

Capital.........................................................................................
Surplus and Profits, net........................................................
Deposits ..................
Total .......................................................................

The W estern National
n

k

•oj7

o

f

- t h e

N ew

C

11,157,391.51

* « O fficers« «
M a r t i n F l y n n , President.
A. D i c k e y , Vice-President.
C. H. M a r t i n , Cashier.
F r a n k P. F l y n n , A ss’ t. Cashier.
». ■*

BARGAIN

• - - • .f i

COUNTER
SALE.

i t y

Y o r k

is a h o m e for th e m e tro p o lita n
accounts of W e s te r n banks
In th e t h ir t e e n y e a r s o f its e x i s t e n c e
it h a s g r o w n w i t h s u c h
“ r a p id ity t h a t its D e p o s i t s
are n o w a b o u t
S i x t y M illio n D o lla r s
C a p ita l, S u r p lu s
U n d iv id e d P r o fit s $4,000,000
C o n s e r v a t i v e m a n a g e m e n t h a s a c c o m p li s h e d
th is r e s u lt and th e p o li c y o f a c c o r d in g
to d e p o sito r s as lib e ra l t r e a t m e n t
as is c o n s i s t e n t w i t h so u n d b a n k in g

T ra velers’ letters of Credit issued, availa­
ble everyw here, and a general Foreign
¿business transacted

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Federal Reserve Bank of St. Louis

*100.000.00
37.970.39
1,019,42L12

RAILW AY

A s i ts n a m e im p lie s

a

* 1, 157,391.51

« * Liabilities * «

L .

B

1963.726 31
179,665.20
12,000.00
2,000.00

LOW

RATES
D U R IN G M A R C H

AND

APRIL
TO A L L

P O IN T S IN

the N O R T H W E S T reached by the

NORTHERN
PACIFIC

connections,

O N E W A Y and R O U N D T R IP .
H o m e s , F a rm s and R a n c h e s w h e re th e
L A N D S and C L IM A T E are th e fin e s t in
th e w e s t. W r ite to C . P. R O G E R S , D. P. A .,
N . P. R ., Des M o in e s , Io w a or a d d re s s ,C h a s .
S. F E E , C . P. & T , A ., N . P. R ., St P a u l,
M in n , fo rlfu rth e r in fo rm a tio n .

THE

4

NORTHW ESTERN

April, 1902.

BANKER.

Des Moines

SEVENTH
Savings Bank

CAPITAL $ 400 , 000 .

NEW YORK CITY

FEB. 25,

1902.

RESOURCES:
Loans and Discounts-------------------------Banking House..........................................
Cash and Exchange...................................

$31610,098.81
661.48
1,200,238.85

Total...................................................

$4,906,019.14

L IAB ILITIES:
Capital Stock.............................................
Undivided Profits— .................................
Deposits........................................................

$ 400,000,00
88,272 11
4, 4I7, 747.°3

T otal..................................................

$4,906,019.14

W E S O L IC IT A C C O U N T S O F B A N K S
AND B A N K E R S ,
A N D
P R O M IS E
PROMPT AND
COURTEOUS T R E A T ­
M E N T , W I T H S U P E R IO R F A C IL IT IE S
F O R T H E T R A N S A C T IO N O F Y O U R
B U S IN E S S .

P. M. CASADY, President.

1 700,000

£ ,

N A T IO N A L
BA NK

DES MOINES, IOWA.

C O N D IT IO N

C A P IT A L

E D W IN C O U L D , P re s id e n t.
E D W A R D R. T H O M A S, )
7 V ic
i e -P r e s id e n ts .
W M . H. TAYLOR,

R.

W . J O N E S , Jr.

GEO. W . A D A M S ,

V ic e -P r e s . an d C ashier.

A s s ’t C ashier.
DIRECTORS :
Edwin Gould,
Edward R. Thomas.
W . Nelson Cromwell,
Chas E. Levy,

R . W . Jones, Jr.,
Alex. McDonald,
Hugh Kelly,
Samuel Thomas,
W m . F. Carleton,
W m . H. Taylor,
Crawford Fairbanks, Erskine Hewitt.

E sp e cially E q u ip p e d fo r H a n d lin g th e A c c o u n ts
of B a n k s and. B a n k e rs .

SIMON CASADY, Vice-President.

HOMER A. MILLER, Cashier.

C T. COLE, JR., Asst. Cashier

P. F. PETTIBONE & CO. (he ),
48 JA C K S O N B O U L E V A R D ,

...CHICAGO...

Rank Stationers
Lithographers.
Large Assortment of

B atik Registers,
And Other Forms Kept in Stock.

7 Fine Russet. . .
Leather Pass Books
And Pocket . . .
Check Books . .
\ A Specialty. , .

ganking House of

Gilman, Son
&Company,
______ 6 2 Cedar Street, New York.
Accounts of Banks, Bankers, Financial and Other Cor­
porations, Merchants and Individuals, Received on Favor­
able Terms and Special Attention Paid to Their Care.

C O R R E S POM D E M C E S O L I C I T E D .

HanKers Aatoal Casaaltv Co.
n

'

c c
n i M P C
\a / a
D
ESu M
O I N E S ,t I O
W A.

Director!:
W . E. COFFIN, President Iowa Loan & Trust C o , Des Moines, Iowa.
J. G. R OUNDS, President Citizens National Bank, Des Moines, Iowa.
A. U . QU IN T, Manager, Des Moines, Iowa.
B. P. SCOTT, Cashier Citizens National Bank, New Philadelphia, O.
W M . A GR AH AM , Cashier Citizens Bank, Sidney, Ohio,
F M. R U D D , Cashier L. Rudd & Sons Bank, Bronson, Michigan.
M . D . W A G N E R , President Huron County Bank, Harbor Beach, Michigan.
JNO. W . F A XO N , Ass’t Cashier First National Bank, Chattanooga, Tenn.

Directors:

*

C. F . SMITH, Cashier First National Bank, McGregor, Texas.
A . E SPAU LD IN G , Cashier Ainsworth Sayings BankLAinsworth, Iowa.
S. H. BU R N HAM , President First National Bank, Lincoln, Nebraska.
F. ELM O R E, Bank of Winchester, Kansas.
J. D G ER LA CH , Cashier First National Bank. Chester, Illinois
L. P. H IL L Y E R , Cashier American National Bank, Macon, Ga,
G. R. MOORE, President State Bank, Jackson, Minn.
W m . W AR N O C K , Banker, Almyr, Ontario, Canada.
. * .
■***■•

INSURES against burglary and robbery of bank Absolute security at actual cost. The safe delivery o f money and
ecurities shipped by registered mail.
Better, safer, cheaper than by express.
Organized and conducted by bankers.
Confines its business to banks. Correspondence solicited

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Federal Reserve Bank of St. Louis

Tí)e Nortbvcstcrn Ijanher.
V olume V II.
S2.00

D E S M O IN E S , IO W A , A P R I L , 1902.

P er A n n u m .

THE NORTHWESTERN BANKER,
P U B L IS H E D BY

T í)e N o r th w e s te r n g a n g e r Pnb. C o .,
DES MOINES, IO W A .
A monthly Bankers’ Journal, devoted to the interests ot bankers in the
Northwest.
All communications and news items of local interest to bankers in the
territory are requested.
Entered at Des Moines, Iowa, as second class Matter.
Subscription $2 00 per annum; single copies, 20c.
Advertising rates on application.

IOW A CONTENTION NOTES.

From various sections of the state it lias come to
us that Frank Y . Locke o f Sibley would make a good
Treasurer of the Iowa Bankers’ Association to suc­
ceed L. F. Potter, who, if the usual custom i^ ob­
served and the wishes of whose friends consulted,
will “ go up higher.” Mr. Locke has been one of
the most enthusiastic workers in the Association. He
is a progressive and successful banker and is always
present at the group and state meetings. So far as
we have learned, Mr. Locke will have no opposition.
A year ago the friends of both Ralph Van Vecten
o f Cedar Rapids .and Arthur Reynolds of Des
Moines were urging the merits of these gentleman
as Iowa’s candidates for the Executive Council, A.
B. A. W hen Mr. Reynolds learned of Mr. Van
Vecten’s candidacy he would not allow his friends
to continue work for him, but insisted on their doing
everything in their power to secure Ralph’s election,
which was done. This year Mr. Reynolds has been
brought forward as a candidate for the council to
succeed J. H. Ingwersen, whose term expires with the
next annual convention.
It is unnecessary to speak of Mr. Reynolds’ quali­
fications for the position. Suffice it to say that he
is one of Iowa’s representative bankers, having won
the Presidency o f one of the largest banks of the
state by first successfully filling the various subor­
dinate positions. Mr. Reynolds has always taken
a very active interest in both State and Rational
Associations,'not only in the councils o f the Asso­
ciation but on the program .as well. H e has rendered
most valuable service to the State Association in
helping run down (bank swindlers and in otherwise
making the Association more efficient. Mr. R ey­
nolds has lots of friends among the fraternity all
over the state, and as we have heard o f no other can
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Federal Reserve Bank of St. Louis

N umber 4.

A B a n kers' J o u rn a l f o r the Northw est.

S in g l e

C o p ie s ,

20

C ents

didate ,he will doubtless be Iowa’s next candidate for
the Council.
W e would suggest, to the bankers contemplating
attending the Iowa State Association the advisability
of engaging their quarters in advance. There are
two other conventions in Des Moines set for the
same dates, and while the capital city has ample
hotel facilities to take care of all, if roomy are en­
gaged in advance better accommodations can be
secured.
Wednesday and Thursday, May 21 and 22, at
Des Moines, the annual convention of the Iowa
Bankers’ Association.
Come whether you are a
member or not. I f not a member, you may want to
join before the meeting is over.
The Iowa Bankers’ Association will hold their
annual convention in Des Moines, May 21st and
22nd. An- exceptionally strong program is being
arranged and even .at this early date "the attendance
promises to be very large. Year by year the
Iowa Association has grown in numbers and in value
to its members, until it is now recognized the coun­
try over as one of the largest in point o f member
ship and one of the best, if not the best in its prac­
tical helpfulness. Des Moines is .a good place to
come. It is centrally located and has unsurpassed
railway connections. Plan to come. May 21st
and 22nd.
Secretary’s Office, April 1 , 1002.
_ At a recent meeting of the Council o f Administra­
tion a committee was appointed to select a place for
holding this year’s convention, and that committee,
Messrs. C. B. Mills, L. F. Potter and Ackley Hub­
bard, selected Des Moines, because of its central lo­
cation, and giving other reasons for the selection
in the form of a resolution which will be read at the
convention.
A committee on entertainment, consisting of
Messrs. Homer A. Miller, J. A. M cKinney and C. B
Mills, will make this a very pleasant occasion.
A committee on arrangement of program, consist­
ing of the Secretary, with Messrs. Frank Y . Locke
and C. H. Keck, will present an interesting and prof­
itable program. Among other speakers will be Hon.
A. B. Cummins, Hon. Chas. G. Dawes and Hon.
Chas. A. Clark.
Reports of group chairmen, various other com­
mittees, addresses, and discussion of addresses and

THE

6

STATE

NORTHW ESTERN

BANK

April, 1902.

BANKER.

O F C H IC A G O

C H IC A G O
O F F IC E R S
H. A. H A U G A N , President
JOHN H. D W IG H T , Vice-President
JOHN R. LIN D G R EN , Cashier
FRA NK I. PACKARD Ass’ t Cashier
H E N R Y S. H EN SC H EN , Ass’ t Cashier
SAM UEL E. K N ECH T, Secretary

D IR E C T O R S
Thomas Murdoch,
David Braker,
A . P. Johnson,
Calvin Durand,
John H . Dwight,
Moses J. Wentworth,
Theo. Freeman,
H. A. Haugan.
John R. Lindgren.

CASH

CAPITAL,,

One Million Dollars
ACTIVE AND RESERVE ACCOUNTS
of State Banks and Bankers are
especially desired by this bank
and will receive the best terms to
be had in Chicago. We respect­
fully solicit YOUR account. <#*
CORRESPONDENCE

questions of vital interest to bankers, w ill profita­
bly fill the time. Completed programs will be sent
later.
K indly make no other engagements for these dates.
Send in any questions you desire to have brought up
for discussion.
Convention at Foster’s Opera (House.
Head­
quarters, Savery Hotel. Secure rooms early.
J. M. D i n w i d d i e , Sec’y.
Cedar Rapids, Iowa.
THE SITUATION.

Bankers throughout the Northwest report a great­
er demand for money than at the corresponding
period last year. Deposits keep up remarkably well
so that the situation from the standpoint of the
hanker is very satisfactory.
A large amount o f building has been planned for
the year. Architects and contractors state that this
will be the record year for building. Real estate,
both farm and city property, is advancing in price
and the large number o f transactions indicate a re­
markable year in this line unless poor crop condi­
tions prevail. A ll in all, the prospects indicate that
this year will reach the topmost wave of general
prosperity.
PROPOSED CHANGES

IN NEBRASKA BANKING L A W .

A revision of several important features of the
Nebraska hanking law is recommended by Secretary
Ed. Royse in his annual report to the State Board
o f Banking. H e suggests an increase in required
legal reserve from 15 to 25 per cent, the placing of
bank examiners upon a stipulated salary basis, the
printing of numbered certificate o f deposit banks
under the direction o f the Banking Board, and points
out where improvements may he made in the provis­
ions relating to the election of bank officers and the

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Federal Reserve Bank of St. Louis

AND

PERSONAL

IN T E R V IE W S IN V ITE D .

STATEMENT, FEB. 26 , 1902.

RESOURCES

Loans and discounts.............
Overdrafts
Bonds...................................
Cash and due from Banks
.,
Total ..

$7,630,895.20
2,296.48
577, 544-39
2,712,179.60
$10,922,915.67

LIJlBILITIEs

Capital Stock............................... $1,000.000.00
..................................
100,000.00
Surplus
Undivided Profits..........................
134,785.88
Dividends unp aid ........................
75.00
D eposits.......................................... 9,688,054.79
Total ................................. $10,922,915.67
Deposits, February 26, 1898___$ 3, 377,716.94
Deposits, February 26, 1899 .. .
4, 541, 379-79
Deposits, February 26, 1900 .. .
4,994,089.40
Deposits, February 26, 1901___ 7,403,809.86
Deposits, February 26, 1902___ 9,688,054.79

loaning o f money to bank officials and employes.
Some of the suggestions are drawn from the recent
embezzlement, (in the Platte Valley Bank of Bellwood. The changes recommended are intended for
submission to the Legislature.
Mr. Royse’s report covers the period from De­
cember 13, 1900, to December 10, 1901. In this
time three private banks became incorporated insti­
tutions; forty-seven new banks were chartered with
an aggregate capital stock o f $448,000; four state
banks were reincorporated under the national bank­
ing law, and six went into voluntary liquidation,
paying depositors in full, while two went into the
hands of receivers.
A comparison o f the reports for the last two years
shows increases in the following items:
Loans and discounts ........................... $3,341,012.05
Legal reserve ........................................ 2,471,691.53
Surplus and profits ....................
274,731.71
Deposits ................................................. 5,421,574.17
Capital paid in ...................................
217,460.00
And a decrease in notes and hills re­
discounted and hills p a y a b le .........
69,183.80
aI give below a statement of total deposits shown
by the records of this department in incorporated,
private and savings banks under state supervision,
as shown by the annual reports of such years, includ­
ing the amount of deposits in banks placed in the
hands of receivers in the respective years.
Total deposits in hanks placed in hands of receiv­
ers:
1902......... .........$
71,997.18
1893......... .........
652,175.79
1894......... .........
197,283.25
1895.........
1896.........
1897......... .........
144,507.34
1898......... -------35,730.06
1899.........
. 13,829.96
1900_____ .........
39,975.91
1901......... .........
100.894.18

April, 1902.

THE

NORTHW ESTERN

BANKER.

7

The Corn Exchange National Bank of Chicago. «
FEBRUARY 25, 1902.

C a p i t a l , $ 2 ,0 0 0 ,0 0 0 .0 0 .

Surplus, $1,000,000.00.

Undivided Profits, $ 9 9 2 ,2 8 4 .9 3 .

D eposits, $35,882,870.81.

OFFICERS:
D. A. M OULTON, Vice-President
ER N EST A. H A M IL L , President.
CH AR LES L. HUTCHINSON, Vice-President.
F R A N K W . SM ITH , Cashier.
B. C. SAMMONS. Assistant Cashier.
J. E D W A R D MAASS, Asst. Cashier.
DIRECTORS :
CHARLES H . W AC K ER .
E D W A R D B. BUTLER.
CLARENCE BUCKIN G HAM ,
ISAAC G. LO M B AR D,
CHARLES H HULBURD,
JOHN H D W IG H T .
E D W IN G. FOREM AN.
E D W A R D A. SHEDD,
JOHN C. W E L L IN G ,
CHARLES L. HU TCH IN SO N ,
ERNEST A. HAM ILL.

Total deposits in .all banks :
have thought perhaps that it might be wise for the
1902.................... 24,891,113.29
state to print blank certificaes of deposit, numbered
1893
............... 17,208,47 6.14
consecutively, and each bank charged with the num­
1894
............... 18,074,832.43
ber issued to it .and each be required to account for
1895 ............... 14,200,775.62
every one issued, fixing a severe penalty for use by
1896 ............... 10,227,537.93
banks of blank certificates other than those issued
by the state.
1897
............... 13,902,940.36
1898 ............... 18,225,180.14
“ I would recommend that the law be so amended
1899
............... 21,666,111.12
that in order to be eligible to the office o f director of
1900
............... 25,894,059.37
a State bank one must become the owner of capital
1901 ............... 31,416,527.72
stock to the extent of at least $500, that the Presi­
“ I would recommend a fixed salary for Bank E x­ dent shall be a director and that the law fix the mini­
aminers, believing that it would be more satisfactory mum number of directors to be elected and main­
both to the department and the examiners. As their tained by an incorporated bank, which number
reports are the medium through which the depart­ should not be less than three.
ment receives the most valuable and reliable infor­
“ Under section 26 of the state banking act an offi­
mation as to the banking institutions under their cer of .a State bank is not permitted to borrow money
supervision, it is essential that the most careful and from his bank until the Board of Directors has au­
rigid examination be made. I would recommend thorized the loan. This is a safeguard of no mean
such salary to be paid as will not only .always com­ importance. A large per cent of failures have been
mand the services o f the experienced and capable caused by officers speculating legitimately, or other­
persons, but enable them to give all necessary time wise, with funds borrowed directly or indirectly from
and attention to their work.
the bank, .and as an additional safeguard against
"“ I would recommend more frequent examination. such practices, I believe it would be a wise provision
It was a wise step in the national supervision when to require also the approval by the Board of Direc­
two examinations were provided for each year, and tors of all commercial paper purchased from an offi­
in this particular I would urge the consideration by cer or director of the bank.
the next Legislature of a similar requirement for
“ This class of paper sometimes, and too often,
banks under state supervision.
becomes a menace to the bank when the officers have
“ The most dangerous and pernicious practice of nutside interests, and are unable to resist the temp­
bankers unworthy o f the name or the privilege of tation to use the bank’s funds for their private pur­
being at large, much less conducting a banking insti­ poses, instead o f for the bank’s benefit and best in­
tution, are the most difficult of detection by the ex­ terests.
“ Another abuse, and one perhaps hard to control
aminers o f the department.
“ Some of them which are clandestinely used are by the Legislature, is a practice, now prevalent to
bills payable, rediscounts and certificates of deposit. some extent, I regret to say, of avoiding rediscounts
I am sure such instances aré rare in Nebraska, but by the officers of banks by the officers of banks con­
as a rule where such practices are found to exist ducting a brokerage business, instead o f rediscount­
they have resulted in great injury to depositors - as ing paper in the usual manner. I .am of the opinion
well as to the legitimate banking institutions. Every that when a bank gets or participates in the profits
precaution should be exercised in preventing as well jof these transactions that it cannot escape liability,
as detecting such evils. Adequate means or methods and the department is using every effort to prevent
to be employed are indeed difficult to determine. I this unwise and unsafe practice.

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

THE

NORTHW ESTERN

BANKER.

April, 1902.

S eaboard National B ank,
New York City.
C A P IT A L ,
S U R P L U S A N D P R O F IT S ,
S. G . B A Y N E , P re s id e n t.
J. F . T H O M P S O N , C a s h ie r.

$
-

O F F IC E R S

5 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

S. C . N E L S O N V ic e -P re s id e n t.
C . C . T H O M P S O N , A s s ’t. C a s h ie r.

This bank is especially well equipped for h an dling a ccou n ts of Interior banks and bankers.
C o rre s p o n d e n c e s o lic ite d .

“ It is a difficult matter, the department finds, to
prevent excess loans. The reasons given for the vio­
lation of this section of the hanking act are various,
but every effort is being made to have the banks keep
within the provisions of the law, as there is no ques­
tion as to the wisdom o f this restriction.
“ It is ,a too common practice to carry less than
the legal cash reserve. 'While the department rec­
ognizes the danger from burglary, to which the banks
in the smaller towns particularly are subject, and
it realizes the fact that currency can readily he ob­
tained on short notice from nearby reserve agents,
yet it believes that the requirement is not unreason­
able as a rule.
i(W ith the legal reserve, however, it is different.
The present requirement is too low, and in my opin­
ion should be increased. I do not believe a 25 per
cent reserve would be excessive.
“ I would further suggest consideration of a pro­
vision requiring the approval by the State Banking
Board of reserve agents for State hanks, for at least
a portion of their legal reserve.”

BLIND PREJUDICE AGAINST BANKS.

One of the strangest humors of the average man
is his deep-seated prejudice against banks and bank­
ers. Whenever he is boasting about his town he will
invariably speak with pride o f the number .and size
and stability of its banks even before he mentions
the churches and schools, but when any measure of
public policy comes up involving the interests of
banks or banking, this same citizen is found attack­
ing anything and everything if it is favored by the
banks, "as though the welfare of a bank always meant
injury to the public.
A striking exhibition of the blindness of this antibank prejudice took place in the Iowa Legislature
last week when a bill was proposed abolishing the
three days of grace. Some one supporting the bill
explained that it had been endorsed by the State
Association of Bankers, whereupon another jumped
up with the exclamation that if that was true he

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Federal Reserve Bank of St. Louis

would vote against the bill, and the measure was
lost without discussion solely because the bankers
had endorsed it. Common sense ought to have told
any man that the three days of grace were a nuisance
in business transactions, a relic of pioneer days
when debtors had to ride long distances horseback,
or travel afoot to the place of payment of their
obligations. The difficulties of such travel, the cross­
ing of a swollen stream, the breakdown o f a primi­
tive conveyance or the delay of a blizzard might pre­
vent the arrival of the debtor on the day when his
debt was due, hence the three days of grace, but now
adays banks are scarcely ten miles apart and drafts
can be sent safely by mail. There is no more use
for the three days of grace than for the thirteen hour
clock. Bankers in lending money charge interest
for the three days because the borrower has that
time in which .to pay. I f the days o f grace were
abolished a man borrowing money for three months
could compute his interest for three months even, in­
stead o f three months and three days as now. How­
ever, plain as this proposition should he, it was voted
down without discussion because the bankers favored
it.
The same peculiarity of human nature was seen
in the hard times of ’ 93 and ’ 94 and the discussion
of the money issue in the campaign of ’ 96. Then it
was contended by men of ordinary judgment, and
believed by thousands, that the bankers were forcing
hard times with their gold standard values for their
own profit. It was actually believed and argued that
banks prospered most when others men’s business
suffered, and yet the truth of the situation was that
hanks everywhere were trembling for their very
existence, many were falling in ruins and not until
general prosperity returned did one of them pay divi­
dends. Last year when everybody made money in
his business or had a good job at high wages, the
hanks paid 8 and 10 per cent dividends, and yet, when
the next period of business depression occurs, we
expect to hear the demagogue crying a curse upon
the banks that they should prosper upon public mis­
fortune .and the sophistry will be believed. Such is
human natures— Marshalltown Times-Republican.

THE

April, 1902.

NORTHW ESTERN

BANKER.

9

S Dee JVbinee Rational Banfe —
ARTHUR REYNOLDS, President,

D I E S Ivd C O rE T E S , XOTTTVA.

F. M. HUBBEL, V ice-P resident.
A. J . ZWART, Cashier.

ST A T E M E N T OF CONDITION FEBRUARY 25, 1902.

(U . S. D E P O S I T O R Y .)

. . . RESOURCES . . .
Loans,
.
.
.
.
.
.
U. S. Bonds, (at par) .
.
.
.
.
Overdrafts,
.
.
.
.
.
Banking House.
.
.
.
.
.
Other Real Estate,
.
.
.
.
.
Stocks and Securities,
.
.
.
.
Cash, and Due from Banks and U. S. Treasurer,
Total,
.
.
.
.
.
.

The Des Moines National Bank
Solicits a Share of Your Business
Upon the Basis o f Sound and
Progressive Banking, Liberal and
Accurate Treatm ent.
CORRESPONDENCE SOLICITED.

?

. . . L IA B IL IT IE S . . .
Capital,
.
.
.
.
.
.
Surplus,
.
.
.
.
.
.
Undivided Profits,
.
.
.
.
.
Circulation,
.
.
.
.
.
.
Deposits,
.
.
.
.
.
.
Total
.
.
.
.

MORTGAGE T A X A T IO N .

The realty is taxed as a matter o f course. It is a
fixture, easily found and usually is an income pro­
ducer. But another element enters.
It becomes
necessary to procure funds perhaps, and a mortgage
is placed on the property to secure the payment of a
note. Eoes o f the tax ferret system say that the
holder o f that note and mortgage should not he com­
pelled to pay taxes upon it. That if he does not list
it with the assessor that a tax ferret should not he
empowered to make it ,a part of the taxable property
of the city or county. It seems to be a queer propo­
sition. I f that money was lying in a tin can buried
in the back yard of the man who owned it, and the
assessor knew it and could prove its ownership and
possession, would it not be subject to taxation, and
rightfully, too ? It is self evident. There is no
difference in the two cases. Money is property. All
property not expressly exempt by law is taxable.
The money loaner does not own the realty which he
takes as a security for a loan. The' possessor of the
property does not own the money he. gets from the
capitalist. He is its trustee and must some time
give an account of his stewardship. An increment
may result as it does with tlife man who furnishes
the funds for which the note and mortgage is given.
— Ottumwa Courier.
The Courier makes the mistake of thinking the
money owner can be made to pay the tax if money
he loaned on a mortgage. As a matter of fact, he
can’t because o f the very nature of the transaction.
I f a perfect system of taxing moneys and credits
could be devised, who would pay the tax on money
loaned on mortgages ? The loaner might be made to
pay it nominally, but is it not inevitable that the bor­
rower must pay it indirectly through the higher rate
o f interest charged ? That has been invariably the

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

12,012,973.31
250,000 00
12,901.39

f53-54i-29
1,930.00
4,712 00

977,483-91

$3,323,54i.9o
$300,000 00
60,000 00
7,397.82
88,o5c.co
2,868,094.08

$3,323,54i.9o

effect in every state where a system of mortgage tax­
ation has been tried and enforced. And what is the
result, with the borrower paying the tax on the mort
gage ? Presumably he lias invested the money in
some tangible property, upon which lie must also pay
taxes. The result is double taxation. The borrower
pays taxes 011 the money he has borrowed and on the
property he has bought with the money. With the
interest of the poor man at heart, does the Courier
consider desirable a method of taxation which makes
a borrower pay taxes on his debt?— -Exchange.
HONEST HANK OFFICIALS.

A prominent newspaper says that when a bank
cashier runs away or a bank official squanders the
depositors’ money the matter is always exploited in
the newspapers. Indeed in almost every line of life
bad news has the ascendancy. A man proves recreant
to a trust. That is news. Ten thousand men prove
faithful to their trust. That is not news. So runs
the world away. It is herefore a pleasant task to
record, when opportunity affords, a story of com­
mercial integrity.
In the ’ GO’s fifty men enlisted, collected the gov­
ernment bounty and each deposited his money in a
New York bank. That was the last of the transac­
tion so far as the world knew, until last week, when
one of the officials of this hank, an old man, called
on Commissioner of Pensions Evans and asked per­
mission to scan the pension rolls.
He related the circumstances of the deposits and
Said that none of the fifty men had ever called, for
his money. The bank had taken care of the funds
and allowed interest on the deposits for twenty-two
years. He said the hank was anxious to turn ovei
the money.

îo

s S e c a r if^

L ife

THE

NORTHW ESTERN

and

p a v in g s

b a n k e r

Aprii, 1902.

.

Capital Stock, $400,000.
O F F IC E R S :

In s u r a n c e

C om pany.

Writes the best pure investment contract written by any company.

High class,

energetic insurance men with clean records, who are looking for engagements are
invited to address the Home Office, with whom desirable contracts can be made.

HOME OEEICE: Equitable Building Das Moines, Iowa.
O f the original fifty the names of six were found
Who are living, and those six old men, who had evi­
dently forgotten the transaction, will receive checks
much to their surprise, doubtless.
Perhaps these bank managers deserve no credit
for their honesty. It was their duty to care for the
moneys confided to them, and the heirs of those who
are dead will doubtless be paid the sums due them.
Nevertheless, one’s faith in honesty is raised by such
transactions.
Bankers, the world over, are of the highest types
of commercial honesty. Once in a while some weak­
ling yields to tempation, but the exception simply
proves the rule.

BANK ROBBERY MADE EASY.

Julius E. Haschke, a Chicago electrician, has dis­
covered a way of so applying electricity to iron and
steel as to be able to cut into them with ease, and to
appreciate the power of his apparatus it is only nec­
essary to say that in seven minutes he has burned a
hole through an eight-inch plate o f steel through
which a man might easily pass his arm. The device
is said to be very simple, and Hascke says it can
be operated with a low voltage that can be obtained
from any electric light or power wire. To enable
him to carry his apparatus around from place to
place, Ilaschke invented a little storage battery in
which twenty-eight cells supply all the power he
needs, those cells being similar in size and power to
those used in an ordinary electric automobile. Socalled drill-proof Bessemer and crome steel, used in
safes and bank vaults, are as easily burned through
as an ordinary iron beam, and it is clearly to be seen
that should the apparatus fall into the hands of
criminals they could reap a rich harvest. Haschke
uses his invention to cut through steel obstacles, and
is continually traveling from one place to another
in his work.
One big job performed by the inventor was in
The Rookery building, in Chicago, one of the most

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Federal Reserve Bank of St. Louis

F R A N K F. M ER RIAM , Prest
N. HODGSON, Vice-Prest.
C. H . M AR TIN , Treas.
E L M E R E. RO LAN D , Sec’ y.
W . H. B A ILY , Attorney and Counsel.
R . A. PATCHIN, Medical Director.
DIRECTORS :
F R A N K F. M ERRIAM , Auditor of State.
H. E. T E A C H O U T , Vice-Presr. Home Savings Bank
C. H. M AR TIN , Cashier Peoples Savings Bank.
R. M .CALKINS, Asst. Gen’l Freight Agent C.,M & St. P.
Railway, Chicago.
E L M E R E. R O LAN D , Secretary.
N. HODGSON, Treasurer Des Moines Elevator Co.
R. A. PATCH IN. Physician.
GEO. W . M ACAR TN EY, Treasurer Kirkwood Hotel.
W . S. SU M M ER S,U . S. District Attorney, Omaha.
W . H . B A ILY , Attorney, Baily, Ballreich & Preston.
C. H. A IN L E Y , President Des Moines Insurance Co.
B. R. H IERONYM US, Cashier Illinois National Bank.

famous office buildings in the world. There were six
22-inch beams of wrought iron to be cut, and the
work was done by the new invention in less than
two hours, whereas it w,as estimated that should the
old fashioned saws be used, it would take six men at
least four days to complete the work. Only a few
days ago a big steel boiler foundation in Milwaukee
was to be taken out, .and the contractor was worried
as to how it should be done, but the Haschke appa­
ratus settled the problem in about an hour’s time.
It is a wonderful invention, but the photographs of
work it has done as an experiment in burning holes
a foot wide in bank safes in less than ten minutes
would threaten most any banker with heart failure.
The only safe plan for a bank to pursue is to pro­
tect the bank by the electric alarm system now being
put into so many of the banks by the American Bank
■Protection Company of Minneapolis, Minn.
SHAW ON BOND PURCHASES.

There is more behind the announcement of Secre­
tary of the Treasury Shaw that he would stop pur­
chasing bonds than appears on the surface. The Sec­
retary wants to stop the harmful practice of the
Rational banks in withdrawing bonds from the
treasury as security for bank circulation, which had
the effect of greatly reducing the volume of national
bank currency.
The Secretary proposes to punish such banks as
continue this practice by refusing to name them as
depositories for government moneys. As there will
now be a considerable amount of money accumulat­
ing since the purchase of bonds has been suspended,
the department will be in a position to designate
additional banks to receive surplus government
funds.
It is the intention of Secretary Shaw to favor in
this way only such banks as maintain their bank cir­
culation to the full limit. By adopting this course
he believes that a stop will be put to the wholesale
withdrawal of bonds from the treasury by banks

April, 1902.

THE

NORTHW ESTERN

li

S T A T E M E N T OF CONDITION A T CLOSE OF BUSINESS,

Accounts cf Bank?
and Bankers____
Solicited................

FEBRUARY

25 ,

1902.

. . . . Resources. . . .

Loans and D i s c o u n t s , ........................................................... $24,891,576.39
PTth0er Stocks and B o n d s , ............................................................1,647,186.44 126,538,762.83
U. S. Bonds to secure C ircu lation ,...........................................................
50 000 00
Overdrafts....................................................................................................................... qg’rfo .,
Real E s t a t e ,............................................................................................. ........
.
25 089.42
Due from Banks and U. S. T r e a s u r e r , .................................. ¿7,732,915.89
C a sh >
•
............................................................. 8;672,534.11 16,405,450.00
T o t a l , ................................................................................................ - . <43,118,764,68

f l

---- inabilities_ _ _
Capital Stock Paid i n , ............................................................................
.
$ 3,000,000.00
Surplus
750,00000
Undivided P r o f i t s ,..........................................
288 334 97
C ir c u la tio n ,............................................................................................. ........ ' . '
Soioooloo
D e p o s i t s , ..................................................................................................................
39,030,429.71

Officers.
John C. B l a c k , President.
I sa a c N. P e r r y , Vice-President.
G e o r g e M. R e y n o l d s , Cashier.
I r a P. B o w e n , Assistant Cashier.
B e n ja m in S. M a y e r , Assistant Cashier.

BANKER.

9

»

Total> ......................................................................$43,118,764,68
A general foreign exchange business transacted.
issued, available in all parts of the world.

that had deposited them to secure bank circulation.
It will also remove the danger o f a restricted circu­
lation by reason o f such withdrawals.
A t the present time the government has $117,000,000 on deposit in various National banks, most of
which are in Hew York City. The money that other­
wise would have been taken up in the purchase of
bonds, together with the other surplus funds of the
government, will in the future be deposited in the
banks selected by the department. There will natur­
ally be keen rivalry for the privilege of acting as
custodians for this money.

Travelers’ circular letters of credit

CHANGE OF OFFICERS IN NATIONAL BANKS.

IO W A .

First Hational Bank of La Porte City, F. E.
Wettstein, additional Vice President; J. H. Lunemann, Cashier in place of F. T. Wettstein.
First Hational Bank of Prescott, W. P. Shinn,
Cashier, in place of Theo. F. King.
First Hational Bank of Crystal Lake, Ole Erick­
son, Assistant Cashier.
First Hational Bank o f Greenfield, no Assistant
Cashier in place of Vern C. Littleton.
First Hational Bank of Eike, J. If. Boardman,
Vice President, in place of Marcus R u gg; Jesse
Schultz, Assistant Cashier.
ALL BANKS INVOLVED.
First Hational Bank of Lost Hation, Emil RuggeLegal proceedings to test the ruling o f Commis­ berg. Vice President; W. S. Ilill, Assistant Cashier.
F irst Hational Bank o f Swea City, Sami. Mayne,
sioner o f Internal Revenue Yerkes, that all banks
were liable to a tax on undivided profits, as well Cashier, in place of G. F. Thomas.
Citizens’ Hational Bank of Washington, C. M.
as capital and surplus, have been instituted.
A committee representing the clearing house as­ Keck, Vice President.
First Hational Bank of Hudson, no Assistant
sociations o f St. Louis, Chicago, Baltimore, Phila­
delphia, Hew Y ork and Boston had a conference Cashier in place of W. P. Johnson.
First Hational Bank of Orange City, A. Bolks,
with Commissioner Yerkes, at which an agreement
Vice
President.
was reached not to enforce the tax pending a judicial
First
Hational Bank o f Williams, Lulu Hurd,
construction of the statute, the banks in the mean­
Assistant
Cashier.
time to make a return o f the amount of their undi­
First Hational Bank of Rock Rapids, Chas.
vided profits under the statute, leaving the payment
o f the tax in abeyance pending the decision of the Shade, President, in place of B. L. Richards; S. S.
Wold, Vice President, in place of Chas. Shade.
courts.
Farmers’ Hational Bank of Red Oak, Geo. C.
It was decided to have some bank pay the tax
Boileau, Vice President.
under protest and bring suit to recover the same, in
Coon Rapids Hational Bank of Coon Rapids, T.
order to obtain a judicial construction which would
R. Lambert, Vice President; C. A. Stockwell, As­
apply to the banks of the country as a whole. As
sistant Cashier.
the question involved all the banks of the country,
Centerville Hational Bank, Centerville, R. M.
the American Bankers’ Association decided to as­ Hicks, Assistant Cashier.
sume the responsibility and expense of this litiga­
First Hational Bank of W aukon, O. J. Hager,
tion, and the Leather Manufacturers’ Hational Bank President, in place of J. M. Barthell; A. T. Hierof Hew York City, in whose name the suit will be ling, Cashier, in place of 0 . J. H ager; no Assistant
brought, paid the tax under protest.
Cashier in place of A. T. Hierling.

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Federal Reserve Bank of St. Louis

TH E

12

NORTHW ESTERN

April, 1902.

BANKER.

P THE NAUMAN (COMPANY A*
S u ccesso rs to B EC K , N A U M A N

& W A T T S CO.

M ANU FAC TU RERS OF

B

an

^ F

ix t u r e s .

PLANS, SPECIFICATIONS AND ESTIMATES
FURNISHED ON APPLICATION.

We also Make All Kinds of Office and Store
Fixtures, Plate Glass Show Cases, Etc.

Write us, THE NAUMAN COMPANY, 3 1 5 -3 2 7 Cedar Street, Wateroo, Iowa.
M IN N E S O T A .

NORTH DAKOTA.

Citizens’ National Bank of Austin, Jno. W . Scott,
President, in place of Lyman D. B aird; A. E. John­
son, Cashier, in place o f Jno. W . Scott; no Assist­
ant Cashier in place of A. E. Johnson.
»First National Bank of Fergus Falls, F. G. Barrows, Vice President, in place of A. M. Wright.
First National Bank of Albert Ima, D. B. P.
Ilibbs, additional V ice President ; C. B. Kellar,
Cashier, in place of August Paulson.
First National Bank of Tracy, no Assistant
Cashier in place of I. W . Bedle.
First National Bank of Blue Earth, II. N. Chadbourn, Vice President.
First National Bank of Verndale, E. Iv. Nichols,
Vice President; Geo. W. Empey, Assistant Cashier.

First National Bank of Rolla, C. F. W ilbur, Vice
President; R. A. Packard, Assistant Cashier.
First National Bank of Minnewaukan, C. O. Ryberg, Assistant Cashier.
American National Bank of Valley City, A. H.
Gray, President ; M. E. M,ason, Vice President, in
place of A. H. Gray.
First National Bank of Langdon, no Assistant
Cashier in place of T. J. Uodgins.

N EBRASKA.

Omaha National Bank, Omaha, T m . Wallace,
Cashier, in place o f C. B. Anderson.
First National Bank o f Newman Grove, Robert
P. Pearson, Assistant Cashier, in place of A. E.
Null.
Nebraska National Bank of Omaha, no Vice Presi­
dent in place of John S. Collins.
First National Bank o f Humphrey, T. D. Robi­
son, Vice President, in place of J. W . Bender.
Fullerton National Bank of Fullerton, W . P.
Hatten, Vice President, in place of J. Gleason.
Alliance National Bank, Alliance, C. H. Connett,
Cashier, in place of H. A. Lotspeich; no Assistant;
Cashier in place of F. E. Smith.
O’Neall National Bank, O’Neill, H. B. Howling,
Vice President.
F irst National Bank of Carroll, Daniel Davis,
Assistant Cashier.
First National Bank of Loomis, Thomas Scott,
Assistant Cashier, in place of T. L. Doherty.
First National Bank of Hooper, Christ Krueger,
President, in place of N. P. Nelson, deceased.
First National Bank o f W eeping Water, J. L.
Hutchins instead of J. S. Hutchins, President.

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Federal Reserve Bank of St. Louis

SOU TH

DAKOTA.

First National Bank of Sisseton, P. L. Ring,
Assistant Cashier.
First National Bank of Centerville, D. M.
Moser, Cashier, in place of R. W. Sayre; no As­
sistant Cashier in place of D. M. Moser.
First National Bank of Britton, C. Hamilton,
Vice President; C. E. Printup, Assistant Cashier.

NEW RESERVE AGENTS FOR NORTHWESTERN BANKS.

(T O W N .................... B A N K ........ ......... RESERVE A G E N T .)
IO W A .

Cedar1 Rapids, Citizens’ Nat’l, Corn Exchange
National, Chicago.
Council Bluffs, First National, National E x­
change, Milwaukee.
Elkader, First National, National Park, N. Y .
Burlington, National State, National City, N. Y.
Burt, First National, Iowa National, Des Moines.
Creston, Creston N at’l, Continental, Chicago.
Dike, First National, Corn Exchange National,
Chicago.
Garden Grove, First National, Drovers’ National,
Chicago.
Orange City, First Nat’l, Drovers Nat’l, Chicago.
Sidney, N at’l Bank of, Corn Exchange, Chicago.
Washington, First Nat’l, Continental N at’l, Chi­
cago.

THE

April, 1902.

NORTHW ESTERN

BANKER.

13

Iowa S tate National B ank.
Sioux Citv, Iowa.
C A P IT A L ,
D E P O S IT S ,

-

-

-

$ 2 0 0 ,0 0 0 .
$ 2 ,2 5 0 ,0 0 0 .

. . . O F F IC E R S . . .

C E O . W E A R E , P re s id e n t.

H . A . J A N D T , V ic e -P re s .

J O H N M c H U C H , C a s h ie r.

T h is b a n k h a s u n e xc elle d fa c ilitie s fo r th e p ro m p t a n d c a re fu l h a n d lin g of all b u s in e s s e n tru s te d to it.

Des Moines, Iowa Nat’l, Commercial Nat’l, Chi­
cago.
Creston, Creston Nat’l, Corn Exchange Nat’l,
Chicago.
Mason, First Nat’l, Corn Exchange Nat’l and
Nat’l Bank of the Republic, Chicago.
McGregor, First Nat’l, Continental Nat’l, Chi­
cago.
Osage, Osage Nat’l, Corn Exchange Nat’l, Chicago.
Ottumwa, Iowa Nat’l, Union Nat’l, Omaha.

Omaha, United States National, New York N a­
tional Exchange, New York.
Fremont, First National, Corn Excliange Nation­
al, Chicago.
Schuyler, First National, United States Nation­
al, Omaha.
Omaha, First National, Corn Exchange National,
Chicago.
Tecumseh, Citizens’ National, Fourth National,
New Y ork ; Continental National, Chicago: Colum­
bia National, Lincoln; Omaha National, Omaha,
DAKOTA.

M IN N E S O T A .

Fairmont, First N a t’l, Corn Exchange Nat’l, Chi­
cago.
Fulda, First Nat’l, Metropolitan Nat’l, Chicago.
Jackson, First Nat’l, First Nat’l, St. Paul, First
Nat’l, Minneapolis.
Rochester, Rochester Nat’l, Corn Exchange Nat’l,
Chicago.
St. Paul, First Nat’l, Corn .Exchange Nat’l, Chi­
cago.
St. Peter, First Nat’l, Corn Exchange Nat’l, Chi­
cago.
"Willmar, First Nat’l, Chase Nat’l, New York
and First Nat’l, Minneapolis.
Alexandria, First Nat’l, Corn Exchange Nat’ l,
Chicago.
Benson, First National, National Park Bank, N.
Y ., First National, Minneapolis, and National Ger­
man-American, St. Paul.
Faribault, First Nat’l, Corn Exchange Nat’l, Chi­
cago.
Northfield, Northfield National,
Northwestern
National, Minneapolis.
Slayton, First National, Corn Exchange Nation­
al, Chicago.
Verndale, First National, National B,ank of Com­
merce, Minneapolis.
'Worthington, Citizens’ National, Northwestern
National, Minneapolis.
NEBRASKA,

Fremont, Commercial National, Nebraska N a­
tional, Omaha.

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Federal Reserve Bank of St. Louis

Watertown, First National, Continental National,
Chicago.
Rolla, First National, Chase National, N. Y .

THOSE H EARTLESS BANKERS.

The Merchants National Bank of Chicago, which
recently merged with the Corn Exchange Na­
tional Bank of the same city, presented its employes
with farewell gifts in cash, aggregating between
$70,000 and $80,000. The presents were handed
out without ceremony and were unannounced. The
money was given in recognition of long and faith­
ful service and every employe of the bank w.as re­
membered.
The largest amount went to John C. Neely, the
cashier, whose farewell envelope is said to iiave con­
tained a check for $ 20, 000. E. H. Gamble, the As­
sistant Cashier, is understood to have received a
check for $ 12, 000, the second largest .amount be­
stowed. From those amounts the gifts ranged down
to $50, the latter being given to an office, boy who
had been in the employ of the bank but a few'
months.
H alf of the money distributed in farewell gifts
to the employes of the Merchants’ National Bank
was furnished by the Corn Exchange, into which the
former institution has been merged. The Merchants’
National closed a long and honorable career and has
now lost its identity in the Corn Exchange, to which
its assets have been transferred,

THE

14

NORTHW ESTERN

W IT H A P A ID U P C A P IT A L O F $
_______________
3 0 0 ,0 0 0 .0 0

BANKER.

April, 1902.

. ■ . D E P O S IT S O F O V E R $ 4 ,0 3 5 ,2 8 2 ,5 5

A N D T O T A L R E S O U R C E S E X C E E D N ^ 4 , 4 6 3 , 7 9 6 .7 9

Cbc peoples 'Crust and Savings Bank,
C U IIN T O IN , I O W A , — — r
Offers its services to individuals and corporations having Banking business in the State of Iowa, promising
courteous treatment, prompt returns for collections, and the lowest rates consistent with sound and profitable
banking methods.
_____________________ ____________ _
O F F IC E R S A N D D IR E C T O R S :

G. E.

Lam b,
Ch as. F A ld en ,

L. Lamb,

.................................. President
J. H.
Vice-President
T. M. Gobble,
1). Langan,

Some of the officers and about two-thirds of the
employes o f the Merchants’ will go to the Corn E x­
change. Chauncey J. Blair becomes a director of
the Corn Exchange, as well as its largest single
stockholder. Some of the other members of the Blair
fam ily will also have larger interests than any of
the other stockholders o f the Corn Exchange, except
C. L. Hutchison, V ice President, and Ernest Hamill, the President. Besides Mr. Blair, Frederick
W. Crosby .and Martin A. Ryerson of the Mer­
chants’ directory, have been elected to the Corn E x­
change board, and John C. Neely has been elected
Secretary.
— 1--------- *-----------

J.
S. W. Gardiner,

In g w ek sen ,

-

D.

-

-

Lam

b

Cashier

,

A. M. Ingwersen.

Articles of incorporation have been filed for the
Citizens’ Bank of Bonesteel; capital, $ 10, 000 ; in­
corporators, H. R. Kenaston, ¡W. A. Leach, C. A.
J ohnson.
The First Bank of Goodrich, N. D., is open for
business; capital, $ 10, 000. Officers: J. H. Ehlers,
President; R. W. Akin, Vice President, and W . S.
Henniger, Cashier.

Charles Burroughs was Cashier of the old First
National Bank of Grand Forks in 1881, and there­
fore is acquainted with all the old timers. H e is
now located in Chicago.
The Anamosa State Bank of Anamosa, N. D., is
now open for business, capital $ 10, 000. Officers:
DAKOTA NEWS AND NOTES.
R. ¡W. Akin, President; J. H. Ehlers, Vice Presi­
dent and August Peterson, Cashier.
The Maddock, N. I)., State Bank will erect a brick
The Comptroller of the Treasury has authorized
bank building.
the First National Bank of Freeman, S. D., to be­
A bank building will be erected for the State gin business with a capital of $25,000. Joseph H.
Bank o f Piolla, N. D.
Graber is President of the new bank.
The South Dakota State Bankers’ Association
The First National Bank of White, S. D., has
will meet May 20 and 21.
been approved. Capital, $25,000. ,W. A. Burgess,
The First National Bank of Fairmount, N. D., White, S. D . ; W. H. W hite, J. C. Allison, T. C.
will erect a new brick bank building.
Farrell and J. M. Farrell incorporators.
The Farmers’ State Bank at St. Thomas, N. D.,
A certificate has been issued to the First National
will erect a two-story brick bank block.
Bank o f R olla; capital, $25,000. W . N. Steele,
L. M. Due and Ed. Christensen have gone to Car- President ; G. W. Row, Cashier. This is a conver­
pis, N. D., with the intention of opening up a Sta*e sion of the Rollette County Bank of Rolla.
bank .at that point.
The First National Bank o f Lidgerwood, N. D.,
A certificate has been issued to the First National will build a new bank building of brick and stone,
Bank of Freeman, S. D. Capital, $25,000. Jos. 25x60 feet, with hardwood finish, tile floors, plate
P. Graber, President.
glass, etc. H. W . Jones of Minneapolis, is the archi­
The Lebanon State Bank of Lebanon, S. D . ; capi­ tect.
tal, $ 10, 000 ; incorporators, J. R. Hughes, J. F.
A new bank is about to be established at Leola, S.
Whitlock .and John Campbell.
D., with a capital of $25,000. T. J. Summers, of
The Bank o f Thompson, N. D., is to build an Sioux Falls, will be President; Charles F. Jenks,
elegant new brick bank block to cost about $ 8, 000. of Egan, Vice President; and F. A. Isley, of the
Egan State Bank, Cashier.
The plans have .already been prepared.
A bank has been organized at Volin, S. D., with
The First National Bank of Mandan is the oldest
a
paid
up capital of $10,000. W ork on a substan­
bank in western North Dakota. It has capital and
tial bank building will begin at once
The officers
surplus of $80,000 .and deposits of $295,000.


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Federal Reserve Bank of St. Louis

April, 1902

THE

NORTHW ESTERN

Northwestern National Bank,
Sioux City,

BANKER.

TJ. S. DEPOSITORY.

Iowa.

Capital and Surplus, D e p o s i t s , ..........................................

$122,000.00
888,000.00

C itizens
National

A

bel

A

nderson,

President.

C.

J o h n S c o t t , J k .,

E. H

oflund,

Viee-Prest.

Cashier.

SPECIAL AT TEN T IO N GIVEN TO SIOUX CITY COLLECTIONS.

Bank**«
Davenport, Iowa.

H

B General BankIns Business
transacted,
Capital, $300,000,
Surplus, 100,000

Officers;
F. H. Griggs, Pres.
Jens Lorenzen,
Vice-Pres.
Aug. A. Balluff,
Cashier.
F. C. Kroeger,
Asst. Cashier.

We Solicit Accounts of Individuals, Firms and Banks.

elected were: Emil Branch, Hurley, President;
H. P. Peirce, Volin, Vice President; A. ;W. Haiper, Hurley, Cashier.
George W. Austin, o f Storm Lake, Iowa, former
County Treasurer, has decided to move with his
fam ily to Brookings, S. D., ,and establish a bank at
Bruce, a small town about thirteen miles from
Brookings. Mr. Austin will be assisted in the hank­
ing business by his son, Frank.

President of the hank will be E. B. Soper, of Emmetsburg, Iowa. The new institution will probably
occupy the building now occupied by Crain Bros.’
drug store.
The Deadwood National banks are in a healthful
condition and indicate that the community is also
financially prosperous. The deposits are unusually
large ,and earning something for the hanks. There
are also large time deposits which are earning some­
thing for the depositors. The totals of the First
National have reached the sum of $1,003,967.49,
placing it far in the lead of any other hank in the
state. Deadwood has always occupied first place in
the amount o f business done by its banks, and- the
business is still increasing.

Several officials o f the First National Bank of
Mitchell, S. D., have just completed the organiza­
tion o f the Bank o f Alpena. This adds one more
bank to the chain of banks that the First National
is securing. It now owns a bank at Fulton, one at
Ethan and another at Letcher.
F. E. Gibson and G. iW. Hughes of Lake Preston,
S. D., have concluded .arrangements for establish­
ing a new banking institution at Garden City. The
new institution, which will be known as the Garden
City Bank, will be opened for business at once. A
bank building is now in course o f construction.
The hanks of Pembina County had something over
eleven hundred thousand dollars on deposit when the
last statements were issued, according to a recapitu­
lation made by Cashier Carr o f the Merchants’
Bank of Pembina. This amount is nearly double
the deposits o f a year ago and makes a pretty good
showing for an agricultural county.
A new bank is to be started at Claremont, S. IT,
within the next few days by Walter E. Stevens, who
for several years has been Cashier of the Clay Coun­
ty Bank at Felton, Minn. Mr. Stevens has secured
a two-story brick bank building, and already has
purchased the fixtures for his new bank. (While
himself and wife will reside at Claremont perma­
nently, he will retain his interest in the Bank of
Felton.

The Bank of Alpena was taken possession o f March
1st by the firm which has just purchased it of State
Senator L. N. Loomis. The officers elected w ere:
President, D. T. Gilman of Sioux C ity; Vice Presi­
dent, O. H. Branson of Mitchell ; cashier, D. C. W al­
lace; Assistant Cashier, Arthur S. Cory. Thesa last
two will remain in charge of the bank. This date
the amount of deposits has reached $60,000, the high
waiter mark of its history. The hank was started
some fifteen years ago and has always been a safe
and reliable institution.

Among important business enterprises to he in­
augurated the coming season is the Redfield
National Bank. The hank is organized >by Iowa
men in connection with citizens there, and
will be incorporated with a capital o f $25,000. The

The Farmers’ Bank of Colton has been merged
into what will hereafter he known as the Colton
State Bank. C. W. Abbott, who is Secretary and
Treasurer o f the Savings Bunk Association in
Sioux Falls, S, D., is President, C. A, Pettigrew,


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Federal Reserve Bank of St. Louis

The news of the consolidation of the Bank of
Eureka, Eureka, S. D., with the German Bank has
been received. It is the intention of the German
Bank to thoroughly overhaul and equip the building
of the Bank o f Eureka with a new1vault and addi­
tional offiice room in the latest and most modern
style. The building now used by the German Bank
will be remodeled and used for offices. The busi­
ness will be conducted hv the same members ,as be­
fore, v iz : F. W. Boettcher, President; Alvin H.
Poehler, Vice President, and C. Vorländer, Cashier.

THE

i6

NORTHW ESTERN

April, 1902.

BANKER.

S TA TE B A N K , 1 8 3 2 .

N A T IO N A L B A N K ,

I8 6 4 .

The Western National Bank
O f Philadelphia.
C a p ita l...................................................................................... $
4 0 0 ,0 0 0 .
S u rp lu s ......................................................................................
2 2 7 ,0 0 0 .
D e p o s its ................................................................................... 3 ,0 4 5 ,0 0 0 ,
C. N. W EYGANDT, President.

Accounts of Banks and Bankers solicited.

CHARLES F. WINGALL , A s s ’t Cashier.

Correspondence invited.
intrusted to us.

Cashier of the Flandreau State Bank, is the Vice
President, while Martin Larson is the Cashier. The
bank is incorporated with a capital of $5,000. The
hank’s business will he transacted in its present
quarters until a railroad is extended to the town,
when the bank people intend to erect a granite
building.
A meeting of the Executive Committee o f the
South Dakota Bankers’ Association was held at
Huron, S. D., recently to fix the 'time and place of
holding the next state meeting. The gathering will
he held at Huron on May 21 , and it is expected that
a large attendance will he had. Arrangements are
being made for an address by one or more parties
of national reputation in hanking and financial mat­
ters. Questions to be considered are burglar insur­
ance, indemnity bonds and general banking business.
Among those at the recent meeting were L. K. Lord,
President of the First National Bank of Pierre;
B. A. Cummins, Cashier o f the same bank; E. L.
Abel, President of the State Bank o f Bredgewater:
H. S. Rowe, President o f the Merchants’ Bank of
Bryant; E. C. Issenhuth, Cashier of the Bank of
Redfield; Chas. E. Judd, President of the First"N a­
tional Bank o f Canton; H. J. Meidell, Cashier of
the State Bank of Beresford. Also General Fullenweider, Cashier of the Standard Savings Bank, and
E. J. Miller, Cashier o f the First National Bank of
Huron.
NEBRASKA NEWS AND NOTES.

The two banks at Franklin have deposits o f $62,-

000.
Ernest M cK ay has accepted the position of As­
sistant Cashier in the Ewing State Bank.
The Citizens’ National Bank o f Tecumseh has
been authorized to begin business with $30,000
capital.
The report of the Bank of Eagle shows an increase
in business of nearly $15,000 for the past three
pionths.

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Federal Reserve Bank of St. Louis

Prompt and careful attention to all matters

The Union Savings Bank of Beatrice has reor­
ganized and will hereafter be known as the Union
State Bank.
The State Bank of Adams changed hands there
recently. Mr. Draper of Lincoln succeeded H. II.
Norcross as Cashier.
The capital stock of the First National Bank of
York has been increased from $50,000 to $ 100, 000,
with a surplus fund of $25,000.
The village of Lushton is to have a bank. Phil
Moore, druggist, of Lushton, is to he Cashier and
Manager.
Capital stock, $5,000.
Edgar Champion has resigned his position as
Cashier o f the Citizens’ Bank ,at Firth and accepted
a like position in the Eirth Bank.
The Citizens’ State Bank of Ravenns has been
incorporated; capital stock, $ 10, 000 ; incorporators,
John Skrable, W m. Benesh, Joseph Siomn, E.
Miner and J. G. Shebl.
Lyons is to have a new bank. The stockholders
will be made up of Pender and Lyons capitalists,
with C. A. Darling as Cashier. A new brick build­
ing will be built to house it.
The City National Bank of Y ork has been desig­
nated as a United States depository. The United
States depositories in Nebraska are in Omaha, ex­
cept one, which is in Lincoln.
The First National Bank stock at Lyons lias all
been subscribed and the stockholders are now ready
to form their organization and develop plans for
the launching of the enterprise.
W e are informed from reliable sources that a new
bank will be opened in Hartington in a short time.
It will probably be organized as a Stare bank and
the stock will be owned entirely by local parties.
L. R. Bickley has left W aco for Bellwood to ac­
cept a position tendered him as Cashier in the bank
recently purchased by the First National Bank of
York. He is succeeded by R. Carsoadden of York.
Articles of incorporation for the Wymore State
Bank at W ymore with an authorized capital stock

April, 1902.

THE

NORTHW ESTERN

BANKER

H

A Practical Protection
Against Burglary and Robbery
is welcomed by every conservative and progressive banker.
It is a fact that electricity properly applied in th8 protec­
tion of vaults and safes is recognized as being the most
practical, effecient and economical protection in use at
the present time.

We manufacture the only open circuit,

Auto'matic Double Electrical System, and the installation
of one of these systems in your bank will convince you
that it is all we claim for it. All the working parts being
enclosed in the vault, there is no chance for the burglar
to defeat same and the very slightest attempt on his or
any one else’s part to tamper with the vault or protective
shields causes a clangor that will frighten any burglar
to cover.

We furnish a positive written guarantee of a

greater amount than the price of the system that it can­
not be defeated.

If you have not received our booklet,

giving detailed description of the system, we will gladly
mail one on request.

We invite all bankers to call at our

offices, where we have a system in practical operation
and will be glad to demonstrate its uses.

Am erican Bank Protection Co.,
F. E. KENASTO N, Prest.
F . C. ROBINSON, Vice-Prest.
O. B. M cC LIN TO C K, Secy. and Treas.

of $25,000, have been approved by the State Bank­
ing Board. Charles G. Anderson and four others
are the promoters.
The Frenchmann Valley Bank has filed articles
o f incorporation with the Secretary of State. A.
J. Vennum and R. J. Vennum of Pallisade are the
incorporators. The bank has a capital stock of
$ 10, 000 .

The Fullerton National Bank of Fullerton is one
of the progressive and successful institutions of that
section of the state. They now have deposits of
$100,62.1 A good business for a bank not yet two
years old.
Ed. Royse, Secretary of the State Banking Board,
would like to know the condition of all state and
private banks at the close of business March 22. To
this end lie has issued a request that all such insti­
tutions report to him.
The financial condition of the People’s State
Bank of Diller, Neb., shows that institution to be
in a healthy condition, the surplus having been in­
creased to 20 per cent of the capital stock, and the
deposits exceeding $ 100,000 .
The combined deposits of the Bank of Hickman,
the Bank of Panama and the Citizens’ Bank of
Firth are somewhere near $ 200,000. Counting the
Firth Bank deposits, the farmers of Southern Lan­

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Federal Reserve Bank of St. Louis

Second floor, Windom Building, 221 Second Avenue, South,

M in n e a p o lis , M in n .
caster County have about $300,000 deposited in
these banks.
The reports of the two Dodge banks show both
these institutions to be in a flourishing condition.
The total deposits in the two banks are $264,511.49.
O f this sum $106,614.20 are subject to check and
$151,951.29 are time deposits.
The State Bank and the Farmers’ and Merchants’
Bank of DeW itt have consolidated under the name
of the Farmers’ and Merchants’ Bank, with a paid
up capital of $ 20,000 and with- the following offi­
cers: Frank Damkroger, President; C. W . Ribble,
Vice President, and J. R. Barger, Cashier.
The First National Bank of Genoa will make
some extensive repairs on the interior of the bank
building this spring. A new vault, larger than the
present one, will be put in, a tile floor laid and a steel
ceiling affixed. The lobby will also be enlarged and
a new counter purchased. The improvements will
cost about $ 2, 000.
One of the notable banks of Nebraska is the Bank
of Brainard. This institution has a capital of $ 10,000, surplus o f $ 10,000 and undivided profits of
$24,000. The deposits are $104,000. Is there a
bank in the entire west that can produce a better
record? This bank is under the same management
as when it started, sixteen years ago.

THE

NORTHW ESTERN

D E P O SITS,

THE

At the ComDtroller’s C alls:

First National Bank
of Minneapolis, Minn.

OFFICERS.

* 1,000,000

J o h n M a r t i n , ............. —
F . M . P r in c e , .................... .. Vice-President.
C. T . JAFFRAY,..................

Surplus and Profits,

D. M a c k e r c h a r , ...............
E r n e st C. B r o w n , ...........

*2 8 5 ,0 0 0

1897
March 9,
1, 9 7 5 , 2 2 6 . 5 2
1898
February 18,
3 .1 3 8 ,6 8 9 .1 7

—

Capital,

April, 1902.

BANKER.

1899
February 4,

4 ,3 8 4 ,6 3 2 .6 2
1900
February 13,

4 , 5 3 8 , 636.41
1901
February 5,

6 , 124 ,817.19
1902
February 25,

NEW BUSINES INVITED.

The safe of the Bank o f Bazile Mills was blown
open the night o f March 29 and $ 1,000 in cash and
$700 in drafts stolen. There is no clew. After
making their haul the burglars stole a team and
made their escape.
The robbery was not discov­
ered until about 7 :30 o’clock in the morning. The
entire front of the safe was blown off, literally ruin­
ing it.
The Eirst National Bank of Auburn has installed
a new steel mob and burglar proof safe. The new
safe is a thing of beauty, weighs 5,000 pounds and
cost over $ 2, 000, .and is one of -the best in use, at
the present time. The old safe was shipped to N e­
maha to take the place o f the one which the bur­
glars succeeded in blowing to pieces there a few
weeks since.
The Eirst National Bank of Sidney was organ­
ized March 12 with $25,000 capital stock. John W.
Harper was elected President; D ..J . Scanlon, Vice
President; Charles Callahan, Cashier.
It is ex­
pected that the new bank wTill open for business in
about thirty days. This is the only National bank
in this part o f the state and it is an enterprise which
will unquestionably be a credit to its operators.
The record of Nebraska bank deposits for ten
years, tabulated by Secretary Rioyse o f the State
Banking Board, is a pretty accurate record of the
ups and downs o f agricultural conditions in the
state. It is needless to add that the bank holdings
for the last year recorded are in excess by nearly
$ 6, 000,000 of the highest mark ever before reached
and three times as great as the low tide of 1896.
Fremont’s bank exhibit continues to be a creditable
one. The statements published show the four N a­
tional banks to contain deposits amounting to
$1,700,000, which, with about $225,000 in the two
savings banks, makes a total deposit of close to
$2,000,000 in that city. A highly gratifying feature
is the large increase of loans during the past year.
They are $500,000 larger than in February of last
year.
I. C. Brubacher, who for a number of years has

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Federal Reserve Bank of St. Louis

9 ,8 9 3 .6 4 6 .7 7
been identified with the Farmers’ Loan and Trust
Company and the First National Bank, of Sioux
City, has assumed charge o f the Randolph State
Bank, at Randolph, Neb. H e succeeds F. G. H off­
man, who is to move away from Randolph. Guy
Desparois, who for some months held a position
in the German American Bank at Emerson, has
severed his connection with that institution to take
up work in the First National Bank in Sioux City.
Mr. M. Holland, receiver of the new defunct
Platte Valley State Bank, gives the following re­
port of the financial condition of the bank which is
as near correct .as he can learn at present. Cash
on hand, $ 1, 200 ; notes on hand, $ 1, 000 ; furniture
and fixtures, $800; deposits, $31,000; drafts out­
standing, $ 2, 000 . O f the notes on hand, about
$1,500 are considered good, doubtful $22,000 are
admitted forgeries. Deposits above mentioned are
on the books, besides which there are ,a number of
certificates not recorded.— Bellwood Gazette.
The State Bank of Ruskin, Nebr., was robbed
April 4. The bandits, supposed to be five in num­
ber, gained entrance to the bank by prying open
¡a 'window and then opening the front doors of
the building. Holes were drilled in the doors of
the bank safe and large charges of nitro-glycerine
exploded simultaneously. The explosion blew both
doors off their hinges and made access to the money
box easy. A number of citizens who attempted to
prevent the escape of the men were ordered back
at the point of revolvers. Four men have been ar­
rested at Geneva, one of whom has been' identified
as having been in Ruskin.
'While confessing from the bench that he depre­
cates the law that compels him to do it, Judge Bax­
ter has decided that the prosecution in Douglas
County of John B. Meserve, former State Treasur­
er, on a charge of embezzling $3,000 interest on
$60,000 of the permanent, school fund which he de­
posited in the Union Stock Yards National Bank
of South Omaha, must stop, and the jury was in­
structed . to return a verdict of acquittal, because,

April, 1902.

THE

W M . H. B R IN T N A L L ,
President.
JOHN BR O W N ,
Vice-President.

NORTHW ESTERN

THE DROVERS NATIONAL BANK,
UNION

STOCK YARDS, CHICAGO.

W M . A. T IL D E N ,

Capital,
$250,000.00.

'$
Surplus
AND

Cashier.

T o H a n k s an d B a n k e r s H a v in g M o re o r L e s s L iv e S t o c k B u s in e s s ,
tliis B a n k O ffers E x c e p tio n a l A d v a n t a g e s , and S o lic it s C o rre sp o n d e n c e
as to T e r m s an d F a c ili t ie s .

according to the law o f the state, the interest did
not belong to the state o f Nebraska. The judge
ruled, also, that the crime charged, if committed at
all, was committed in Red W illow County, not in
Douglas County. This practically sustains the two
contentions raised by Meserve’s attorneys.
H. R. Gould, Secretary of the Nebraska Bankers’
Association, has issued a circular to the Presidents
iof the nine group organizations in the state request­
ing them to announce to the State Secretary the
date o f the meetings o f the several groups and to
call upon the state officers for any assistance that
may be desired in the forming o f programs. The
executive committee o f the State Association will
meet in May, after the group conventions have been
held, for the purpose o f fixing time and place for
bolding the state convention of 1902. The Execu­
tive Committee is composed o f Henry W. Yates,
Chairman; P. SW. Samuelson of Humboldt, G. W.
Hansen o f Pairbury, T. E. Stevens o f Blair, John
D. Haskell o f Wakefield, A. L. Clarke of Hastings,
I . M. Rublee o f Broken Bow, Ed. F. Gallagher of
O’Neill, Thomas M. Huntington o f Gordon and
O. P. Shellenberger o f Imperial.
MINNESOTA NEWS AND NOTES.

The corporate existence of the First National
Bank o f Stillwater has been extended twenty years.
The First National Bank of W illm ar, Minn.,
has been approved. Capital, $50,000.
Russell
Spicer, President; Charles W . Odell, Cashier.
A certificate has been issued to the First National
Bank o f Benson, capital, $25,000. Frank M.
¿Thornton, President; Frank C. Thornton, Cashier.
This is a conversion of the Bank o f Benson.
The Morris National Bank, Morris, Minn., was
approved March 14. Capital, $25,000. C. H. McNider, Mason City, Iowa, D. J. Stewart, W . J.
Stewart, L. W. Phillips and John Grove incorpora­
tors.
The First National Bank of Minnesota Lake,
Minn., was approved March 28. Capital, $25,000.
Oscar IT. Schroeder, Minnesota Lake, Minn., Peter
Kremer, Ed. Cote, M. S. Fisch, N. J. Fisch incor­
porators.

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Federal Reserve Bank of St. Louis

■Í0

BANKER.

Profits,
$ 2* 0 ,000 .00.

The First National Bank of St. Charles, Minn.,
was approved March 17. Capital, $25,000. T. L.
Beiseker, Fessenden, N. D., John W. Shelby, E d­
mund F. Yolkmann, Thomas Riley and S. J. Lom­
bard were incorporators.
The Northwestern National Bank of Minneapolis
and National Bank of Commerce of Minneapolis
have been approved as reserve agents for the First
National Bank of Verndale, Minn., and the Citi­
zens’ National Bank of Worthington, Minn.
The State Board of Deposit has selected five new
depositories for state funds. They are the Barnesville National Bank; First National Bank of St,
James; Brown County Bank, New U lm ; First Na­
tional Bank, Redwood Falls, and the Citizens’ State
Bank of Fairfax.
The attempt to rob the Bank of Cambridge,
March 7, is now fixed on six young men living in
or near Cambridge. One of these Christian Tollefson, was .arrested, and has confessed, implicating
Martin Peterson, Gus B. Jornson, Abel Christian­
son, Ole Thompson and Andy Lund.
The Metropolitan and the Northwestern National
Banks of Minneapolis have merged their business.
Deposits amounting to $1,320,000 were turned over
to the Northwestern National Bank. The capital
of the Northwestern Bank will still remain $1,000,000 .and its surplus $500,000. Its deposits will
amount to over $ 8, 000, 000.
- The third annual banquet of the Minneapolis
Bank Clerks’ Association will be held at the AVest
Hotel, April 19. “ The Fundamental Principle of
Money” will be the topic discussed by A. B. Stickney, President of the Chicago Great Western rail­
road, who will be the main speaker of the evening.
Bishop Edsall and Prof. F. L M cVey will be the
other guests of the evening.
The United States Savings and Loan Association,
with headquarters in St. Paul, will go into liquida­
tion. The action will be taken at the suggestion of
Public Examiner Johnson. The Association did
business all over the state. Its liabilities are about
$800,000, and the assets very .nearly the same. It
is expected that it will pay 80 cents on the dollar.
Ex-Governor Lucius F. Hubbard is President and
John Douglass, of Minneapolis, managing director.

THE

20

NORTHW ESTERN

Confident that its equipment for the handling of bankers’
accounts is as good as the b e st. . .

THE NATIONAL

BANK OF THE REPUBLIC.

55e

COUNCIL BLUFFS
Çommerçial ” = r o w A =
flatiopal
J. R . R e e d .....................
L e w is H a m m e r ..........
F. C. L o u g e e ......... —
C. E . P r i c e ..................
C harles E . W a l t e r s.

B a i}^

O F C H IC A G O ,
Continues to offer its services to the business public, prom­
ising all the courtesies that are usually expected from a fair
dealing and obliging banking house.

O F F IC E R S .

JOHN A. LYNCH, P r e s i d e n t .
W. T. FENTON, V i c e -P r e s i d e n t .
J. H. CAMERON, C a s h i e r .
r . m . m c k in n e y , a s s t , c a s h i e r .

April, 1902-

BANKER.

C a p ita l,

-

.................. P r e s id e n t
....... V ic e - P r e s id e n t
2nd V ic e - P r e s id e n t
.................... . C a s h ie r
........... A s s t . C a s h ie r

$ 1 0 0 ,0 0 0

We Would be pleased to confer in person
or by letter with those Who contem ­
plate making a change in their pres­
ent banking connections, or Who think
of forming new.
:r:=

B O A R D O F D IR E C T O R S .
F r a n k O. L o w d e n , Lawyer.
Jo h n A . L y n c h .
Alexan der Mackay.
E. B. St r o n g , of the late firm
of Foss, Strong & Co.
B. G r e e n h u t , Capitalist,
ouïs F. S w i f t , of Swift & Co.,
Packers.

t

A. M. R o t h s c h il d , of A. M
Rothschild, & Co.
H e n r y S ie g e l , of Siegel,Coop­
er & Co.
T r a c y C. D r a k e , of Alfred L.
Baker & Co.
W . T .F e n t o n .

W e M a k e C O L L E C T I O N S A S P E C I A L T Y and
S o l i c i t y o u r I t e m s at t h is P o in t.

bank

The American State Bank of St. Charles began
business 'March 31 with most excellent prospects for
a rapid growth. They have a large fireproof build­
ing, a fine vault and a modern burglar proof screw
door safe, an adding machine and all the other equip­
ments that go to make up a progressive and success­
ful modern hanking institution. The officers are:
R. A. Johnson, President; Frank Guidinger, Vice
President; L. E. Bobb, Cashier, and C. P. Bopp,
Assistant Cashier.
The articles of incorporation of the American
State Bank of St. Charles have been filed in the office
o f the register o f deeds. The place of business is
named as St. Charles. The capital stock is fixed
at $25,000. The time of the corporation is fixed at
thirty years from the 2d day of February, 1902.
The first Board o f Directors is composed as follow s:
Frank Gudinger, R. A. Johnstone, L. E. Dopp, G.
C. Stevenson, 0 . L. Carter, W . P. Saxton and H.
C. Bear, all of St. Charles; W. P. Hancock, of West
Newton, Iowa, and D. L. Keyes, of Dover.
The Northwestern National Bank of Minneapo­
lis has completed negotiations whereby it secures
the property adjoining the National Bank of Com­
merce. The bank proposes to erect thereon at once
one o f the finest bank buildings in the United States.
The new building will be of colonial design, with

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Federal Reserve Bank of St. Louis

:

accounts

in v it e d .

great pillars, and an unusually attractive front.
The building will be two stories in front, but the
banking room will develop dome-shaped, to the full
height of the building. The room will be artisti­
cally decorated, .and in the arrangement the most
modern plans for the accommodation of the custom­
ers will be employed.
After being in court for eight years, 'an attempt
was made recently to have the matter opened up in
the State Bank of Minneapolis receivership, to allow
a claim of $ 6,000 put in. While nothing ever came
to any creditors in the main receivership, because
the state’s claim was never fully paid, the result
of the special receivership in the action against the
stockholders will net creditors 18 1-2 per cent on
their claims. This was because of the fight made,
in which it appeared that the state had no preferred
claim on that fund. The state tried to have their
percentage of the total claim paid from the stock­
holder fund, hut in the attempt they were defeated
and only allowed their share of the balance owing
from the first fund. This result was what gave the
creditors >a, share in the dividend.
James V. McHugh recently closed a deal in New
York whereby he becomes the owner of the Bank
of Commerce building in Minneapolis, at the south­
western corner of Fourth street and First avenue

April, 1902.

THE

NORTHW ESTERN

21

BANKER,

I. C. E l s t o n , President
G e o . H. R a t h m a n , Cashier.

THE

Seott Çoupty Sauip^5 Bapl^

F. L . E a t o n , Vice-President
E . C. C u r r e y , Ass’t Cash.

Live Stock Natl Bank,
S IO U X C IT Y S T O C K Y A R D S .

Davepport, loiua.
Capital, Surplus add Undivided Profits,

$3S6,2so.oo

Qapital,
Surplus,

-

-

$100,000.00
75,000.00

Deposits, $3,301,207.«$

SA V E
J .H .SE A R S, Pres.

H. F. P ETER SEN. V-Pres.

J. H. HASS, Cashier.

Tramp— Please, mum, if ye’ll kindly help me
on my journey, I ’ll be much obleeged.
Housekeeper— H u h ! On ,a journey, eh?
Tramp— -Yes, m um ; I ’m goin’ West to start a
bank.— New York Weekly.

THE BANKERS’ REGISTER.

W e are in receipt of Volume X X V — The January
1902 copy of “ The Bankers’ Register’’.. This bank
directory is one of the most complete and best
arranged on the market. It is a veritable encyclo­
pedia of banking information, so well arranged as
to be easily and quickly found when wanted. B y a
constant study of the bankers needs, the publishers
of this directory have produced a book that is unsur­
passed for the amount and reliability of valuable
banking information furnished. It has a very large
circulation among banking and other business men,
attorneys, etc., and is regarded by them as a stand­
ard, Published and for sale by the Credit Company,
Chicago and New York.

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Federal Reserve Bank of St. Louis

AND

M O N EV

B Y S E N D IN G STOCK YARDS BUSINESS D IR E C T .

I. C. Elston,
F L . Eaton,

south. The consideration in this latter transaction
is $280,000. The building is o f stone, six stories
high. It was erected by the National Bank of Com­
merce in 1889. The property was afterward pur­
chased by J. W. Johnson for $290,000. Later it
was mortgaged to the Farmers’ and Mechanics’ Bank
for $160,000. It finally got into the possession of
the Security Company o f New York, from whom
Mr. McHugh made the purchase. The walls of the
building are heavy enough to permit of three addi­
tional stories, and these will doubtless be built in
the near future.

T IM E

D IRECTO RS :
Samuel McRoberts,
W m . Milchrist,
Geo. H. Rathman,

F. W . Rathman,
E. C. Currey.

IO W A NEWS AND NOTES.

Every Iowa bank not now a member of the State
Association should remit jive dollars to the treasurer, L.
F. rotter, o f Harlan, and u get i n f As a matter o f
profit and loss in money you cant afford to stay out.

'Work on the new Allison Bank building has be­
gun.
The Leavitt & Johnson Bank building at Waterloo
is being remodeled.
The Farmers’ Bank of Inwood is building a new
stone bank building.
The Chariton Bank, largely owned by the Penicks,
will soon be remodeled.
The Osage National Bank has almost completed
the plans for their new building.
The charter of the First National Bank of W ash­
ington expired by limitation on March 13.
The Fidelity Savings Bank, Marshalltown, will
increase its capital stock from $30,000 to $50,000.
The Citizens’ Savings Bank of Curlew has been
remodeled on the interior and added new furniture.
Sandyville has a bank. It is now ready for businesss. C. R. Bassett is President and E. S. Heiny,
Cashier.
The First National Bank of Wyoming, with a
capital of $50,000 has undivided profits of $19,000
and deposits of $309,000.
John K. Pixley is
Cashier.
Charles Sargeant has sold out his bank in Webb,
¡and, having arranged his business interests in Gil­
more satisfactorily, intends to start for the Alberta
country soon.

l2

$

THE

«JINO. VV. BALUARD, President

1

NORTHW ESTERN

April, 1902.

FRED B. SHARON, Vice-President

S. L«. EEY, Cashier

THE UNION SAVINGS BANK
DAVENPORT,

Z C A P IT A L , $ 1 0 0 ,0 0 0
S

BANKER.

8

D E P O S IT S , S l , 2 0 0 , 0 0 0 Z
COMMERCIAL AND SAVINGS

3 1-2 PER C E N T IN T E R E S T P A ID ON D E P O S IT S

The Union Savings Bank of Davenport has de­
clared a 2 1-2 per cent semi-annual dividend, pay­
able A pril 1.
A bank will be organized at Colter in the very
near future, as papers are now being circulated in
that locality for stock.
Amendments to articles o f the Blakesbury Savings
Bank, increasing its capital stock from $ 10,000 to
$ 20,000 have been filed.
The Carpenter Savings Bank of Carpenter has
been incorporated; capital, $20,000; C. IT. Miehlei
and others, incorporators.
The First National Bank of Garner has the finest
quarters of any hank in the county since they have
moved into their new building.
The Citizens’ National Bank of Davenport recent­
ly celebrated .an anniversary. It was just 34 years
since the bank was organized.
The Bank of Reinbe.ck is contemplating extend­
ing their bank building several feet to the rear this
spring and putting in steam heat.
A. D. Clarke of Bancroft will soon establish
a new bank in Minneapolis. Mr. Williams, his
son-in-law, will be placed in charge.
The State. Savings Bank o f Missouri Valley are
spending $3,000 in improvements for their bank
building, among which is a large fire proof vault.
The Davenport Iowa National Bank directors
met recently and declared a 3 per cent semi-annual
dividend, besides adding $5,000 to the surplus fund.
The building occupied by the First National Bank
o f Marengo will be transformed into a modern bank
building.

I

IOWA

P R O F IT S , $ 1 5 ,0 0 0

A GENERAL BANKINC BUSINESS TRANSACTED

W

|

&

The Gross assets o f the Greene County State
Bank recently touched the highest mark in the his­
tory of that institution. The total reached was the
sum of $415,000.
The engagement of A. Dostal as Assistant Cashier
of the Calmar branch of the Winneshiek County
Bank will still further strengthen that institution
in public favor.
S. N. Harris has resigned his position as Cashier
of the Fenton, Iowa, State Bank and will remove to
Felton, Minnesota, where he will have charge of
a real estate office.
The First National Bank of Rock Valley has been
designated by the Secretary of the Treasury as a
depository for government funds, and will receive
$50,000 on deposit.
The State Auditor has issued a charter to the Castalia Savings Bank of Castalia, Winnishiek County.
Its capital stock is $ 10, 000. L. A. Myer is Presi­
dent and D. C. Mall, Cashier.
The Commercial National Bank of Council Bluffs
is making rapid strides to the forefront of Iowa
banking institutions. They report $50,000 more de­
posits than at the last statement.
The First National Bank of Stanton, Iowa, was
approved March 26. Capital, $25,000. C. G. Lind,
C. W. Swanson, G. A. Ossian, Samuel Rylander
and J. L. Ossian were incorporators.
The State Savings Bank of Knierim is making a
notable improvement in the matter of a burglar and
fire proof safe. The vault will also contain boxes for
“he accommodation of the banks’ patrons.

iStanton capitalists have been granted permission
to organize a national bank with a capital of
$25,000.

. The Commercial Bank of Valeria is now in
their new home. E. W. Phalen has been elected
Assistant Cashier of the bank. Mark M. Shaw is
Cashier and H. W. Shaw, Assistant Cashier.

The City Exchange Bank of Pocahontas is owned
by W ill D. McEwen, who .acts as President. H. C.
Doyle is Cashier. This is one o f the best banks in
that part of Iowa.

In our March number we had an item to the effect
that the Taylor-McGowen Bank of Bloomfield did
more business in 1891 than in any other year of its
history. It should have read 1901 instead of 1891.


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Federal Reserve Bank of St. Louis

April, 190!

TH E NORTHWESTERN BANKER.

23

.. MERCHANTS NATIONAL BANK ..
" f C E D A R
Ca

p it a l

, $ 1 0 0 ,0 0 0

R A P ID S

Surplus

JO H N T . H A M IL T O N , P res.
C H A S . E. P U T N A M , C a s h ie r.

a n d

P

r o f it s

, $ 5 1 ,0 0 0

P. C. F R IC K , V ic e -P re s .
JA S . E. H A M IL T O N , Ass t C a s h .

YY7E solicit the accounts of Banks and Bankers, offering superior facilities for the prompt transaction
™
of your business.

A meeting o f group 1 will be held Wednesday,
A pril 23rd in Council Bluffs. Headquarters at the
Grand Hotel. A good program is being prepared
and a large attendance of bankers in this group
desired.
Chris Guzenhauser has determined to start a bank
at Rowley. George Rentz will assist ’ Mr. Guzen­
hauser in the bank. Mr. Guzenhauser is amply
qualified to manage a bank and we predict success
for his enterprise.
The Mahaska County State Bank of Oskaloosa is
one of the most enterprising and prosperous insti­
tutions in that section o f the state. It has had a
fine growth during the past year and prospects for
still larger increase.
The Northwestern National Bank of Sioux City
has removed nearly all of its actual cash on hand
to the other banks in the city, where the money
will be allowed to remain until the Northwestern’s
new vault is installed.
IT. L. Banner has succeeded. C. E. Narey as As­
sistant Cashier at the First National Bank o f Lau­
rens, o f which bank Mr. Farmer’s father is Presi
dent. Mr. Narey will accept the position of Cashier
o f a bank in Greenville.
C. D. Butterfield and others o f Hamburg have
associated themselves with parties o f Pacific Junc­
tion for the establishment of a bank at the latter
nUmed place. The building for that purpose is now
under course o f erection.
The Early State Bank now occupies its place In
the new bank building. With its steel ceiling, upto-date finishing, and its entirely new set of furni­
ture, this bank now has one of the finest suite of
banking rooms to be found in any town of this size
in the state.
Improvements seem to be the order of things at
St. Anthony. It is .announced that the town is to
have a bank, the business to be started by H. A.
Church o f Marshalltown. This will be the first bank
ever established in St. Anthony, which is a village
nearly twenty years old.

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Federal Reserve Bank of St. Louis

The First National Bunk of Hartley is one of the
most substantial and successful banks in that part of
the state. The officers are: E. E. Hall, President;
Oliver Evans, Vice President; W . J. Davis, Cashier;
IT. Hesse, Assistant Cashier.
The Traders’ Bank of Vail has a responsibility of
$ 100, 000. It is a very progressive institution. The
officers .are: W . A. McHenry, President; Sears M c­
Henry, Vice President; Henry Stuck, Cashier, and
W. F. Shove, Assistant Cashier.
In our last issue we had it that, L; J, Yaggy had
been made Assistant Cashier of the First National
Bank o f LeMars. It should have been the First Na­
tional Bank of Davenport, to which popular institu­
tion Mr. Yaggy has become allied.
The new State Savings Bank o f Manchester is
doing business. The.vault is completed, and .a sub­
stantial affair it is. The vault door is certainly a
ponderous affair. It weighs about .6,000 pounds—
three tons— and is fire and burglar proof.
At the annual meetings of the State Bank of Swea
City, Humboldt County, J âmes J. Sherman was
made Assistant Cashier. I f Jas. Sherman makes as
good a banker as his brother, Tom Sherman, o f Ban­
croft, the bank will be well' taken care of.
The First National Bank of M ilford has pur­
chased new furniture and has discarded the old that
has done service since the old Commercial Savings
Bank was organized there. The new furniture con­
sists of counters .and desks all of quarter sawed oak.
John Head, son o f M.ahlon Head of Jefferson,
and Gladys W ynkoop of the same place, were se­
cretly married recently, unknown to their parents
and against their wishes. They left for Laurel,
Neb., immediately after the ceremony, where Head
says he is ¡about to engage in business.
J.
E. Whelan, of Red Oak, present State Bank
Examiner, is a candidate for Clerk of the Supreme
Court. H e has held the office o f Clerk of Courts
for four terms, and has been Deputy Clerk for the
Supreme Court for four years. He is well fitted
for the position and will be a strong candidate.

24

THE

NORTHW ESTERN

April, 1902.

BANKER.

Cbe northwestern Cife and Savings €0.

.. A S S E T S ..
T h e C o m p a n y ’s P y ra m id of Gross Assets

OP D E S MOINES, IO W A ,
Is the greatest Insurance and Investment company in the Central-Western states. It
is the parent company issuing the ten-year endowment investment policy. This
policy contains no confusing technicalities, but is a plain and simple promise to pay
whether you live or die.
O F F IC E R S:
D . F . W IT T E R ................................President
A R T H U R R E Y N O L D S .... Vice-President
G. W . M A R Q U A R D T ....................Treasurer C. C. C R O W E L L ........................... Secretary
F. H. N IC H O L S....................Asst Secretary W . L . E A T O N .................. General Attorney
W . H. K E N N E D Y ......... Supt. of Agencies
TRUSTEES:
G. W . Marguardt, Pres. Marquardt Sav. Bank Arthur Reynolds, Pres. Des Moines Nat’l B’k
ohn Herriott.......... Ex-Treas. State of Iowa G. D. Ellyson.. Cashier Marquardt Sav. Bank
). F. Witter, Ex-Pres. Iowa Loan & Trust Co. J. H. Blair....... Sec’ y Iowa Loan & Trust Co,
C. L. Gilcrest........... Wholesale Lumberman F . C. Macartney... Propr. Kirkwood House
M. M. Reynolds.................................................... W L . E ato n ........................................................
Pres. Guthrie County Nat’l Bank, Panora
— .Representative, Mitchell Co., Osage
H . H. Green, Pr.Elder, M. E. Ch., Dubuque J. B. Tinker....................................Mason City
C. C. Crowell................................ ;Des Moines F . H. N ichols................................ Des Moines
W . H . K ennedy..........................Des Moines

i

Agents with good records can secure employment in almost every State in the Union
by writing the NORTHWESTERN LIFE AND SAVINGS CO., Des Moines, Iowa.

Pacific Junction is to liave a bank. C. F. Davis
and other business men are interested, also Butter­
field, the Hamburg banker, and others from that
town. The bank building is now in process of erec­
tion and as soon as it is completed business will begin.
The Panora Savings Bank of Panora has filed
articles o f incorporation, capital, $30,000. Presi­
dent, 'William G. Roberts; Vice President, W. E.
Blackman; directors, in addition to officers: E. E.
Kellogg, C. F. Heilland, Charles W. Bopp, Charles
Wall, W . S. Hart, A. W . Rader and A. Merchant.
John P. Baker has purchased S. S. Striker’s in­
terest in the Everly Bank, and Richard Davis from
Webb is now serving as Clerk. W ith Mr. Striker
as President and Mrs. Baker .as Cashier, the business
of this bank has steadily grown ever since they pur­
chased the same of A. W . Sleeper about seven years
ago.
For some time parties from different parts of the
state have been investigating the needs of Woodward
for a new bank. Recently the Brenton boys of Dal­
las Center interested W aldo & Thornley in the new
bank scheme .and decided to open there at once. The
bank will be known as the-Farmers’ Bank of W ood­
ward.
Cowles & Murtagh will open their bank at Ledyard .about the first of May, with G. L. Dalton,
Cashier. Mr. Dalton holds that position at pres­
ent o f Cashier of the First Rational Bank of Titonka. He is .a very competent and popular man. Who
will fill Mr. .Dalton’s place in the Titonka bank is
not learned.
The first of A pril the First Rational Bank of
Marengo began extensive improvements in its bank­
ing building. The bank, at the completion of the
work, will occupy the entire ground floor, with the
added conveniences o f a comodious new vault,
made necessary by the demands of its ever increas­
ing business.
The directors of the Farmers’ Savings Bank of
Allison had a meeting at the office of Conn & Hard­
ing recently. Plans and specifications for the new

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

Dec. 31, '96,
4 4 ,3 5 0 87

Dec. 31,’97,
68,177.95
D ec.*31, 1898,

14 1,52 0.32
Dec. 31,1899,

2 7 7 ,2 3 8 .6 3
Dec. 31, 1900.

4 8 3 ,3 2 9 .9 3
April 1, 1901.

. 595,243.41
All policies are secured by a deposit of Interest-Bear­
ing Securities, deposited with the Auditor of State of Iowa.
PAID-UP

CAPITAL,,

$100,000.00.

building were considered and the contract let to
Oelwein parties. According to the terms of the con­
tract. the building will be completed by June 1st and
will cost $7,000.
The bill to allow state and savings banks to lend
surplus on real estate, was amended in the senate to
insert “ farm loans” for “ real estate” and considera­
tion was postponed. Senator Ilealy opposed the
measure vigorously. It was then limited to savings
banks alone and w.as passed. I f it passes the house if
will become a law.
The First Rational Bank of Montezuma has pur­
chased the I. O. O. F. building on a corner fronting
(the square and will remodel the building, putting
in two vaults and place entirely new furniture and
fixtures in the same. When it is completed they
will have one of the finest banking rooms in that
part of the state.
R. M. Crouch of Merrill has purchased a part
ownership of the Farmers’ and Merchants’ Bank of
Merrill, taking .a part of the J. D. Simpson stock.
Mr. Simpson takes an interest in the Bank of H in­
ton with R. M. Crouch. This arrangement will give
Mr. Simpson more time to look after his growing
interests in the stock business, both of Merrill and
in the Horthwest.
The capital stock of the new bank at Sandyville
is $ 10, 000. The burglar and fire proof, screw door
safe cost $1,400. Property valued at from $150,000 to $ 200,000 is behind the new bank. The offi­
cers are, C. R. Bassett, President; E. S. Heinv,
Cashier. The fine farming country around Sandy­
ville and the amount of business done by the mer­
chants makes the new bank an assured success.
Following is a list of officers o f the Castalia Sav­
ings Bank: President, L. A. M eyer; V ice Presi­
dent, Fred J. F igge; Cashier, D. C. Malloy. It is
a State bank. The safe has been placed in, and is
one of the best fire and burglar proof makes. The
directors were fortunate in securing Mr. Malloy as
Cashier, as he is well qualified for the position and
has a host of friends .and acquaintances in the county.

April, 1902-

TH E NORTHW ESTERN BANKER,

CAPITAL STOCK, $ 2 0 0 ,0 0 0 .0 0 .

25
O FFIC E R S.

G. L. D o b s o n , President.
D . G. E d m u n d s o n , Vice-President.
P. M. S t a r n e s , Secretary.
C a l v i n M a n n in g , 2nd Vice-President.
D e F o r r e s t B o w m a n , Ass’t Sec’ y.
G e o E. P e a r s a l l , Treasurer.
N E. C o f f i n , Counsel.
D IR E CTO R S.

Leslie M. Shaw, Governor of Iowa; Geo. L. Dobson, Secretary of State; Geo. EPearsall, Cashier Citizens Nat’ l Bank; D. G. Edmundson, President Security Loan
and Trust Co., Des Moines, Iowa; N. E. Coffin, of Dudley & Coffin, Attorneys; P.
M. Starnes, Secretary, Des Moines, Iowa; Dr. S. J. Patterson, Cashier Dunlap
Bank, Dunlap, Iowa; Lewis Haas, Cashier Woodbine Savings Bank, Woodbine,
Iowa; A. S. Stults, Des Moines, Iowa; Hon. Calvin H. Manning, President Iowa
National Bank, Ottumwa, Iowa; E .E . Penney, Wholesale Coal, Cedar Rapids, Iowa.
D O Y O U W A N T to own a 10-Year Gold Bond? D O Y O U W A N T
to pay for it in installments? D O Y O U W A N T to have your unpaid install­
ments canceled at your death, and one-third more cash than you have paid given
your family or estate? D O Y O U W A N T an investment which will be as safe
as Iowa farm mortgages can make, held in trust by the state of Iowa, and which will
be guaranteed to you or your estate? IP* Y O U D O apply for a

10-YEAR ACCUMULATIVE GOLD BOND
FROM THE

Insurance Men with Good Records w ill find it to their interests
to address the Home Office, Crocke •Bldg, Des Moines, Iow a .

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An absolutely new contract in the field and one which it will pay you to examine.

The item going the rounds of the press to the ef­
fect, that John Hisuinius, Cashier of the State Bank
of Stout, had suddenly and mysteriously disappeared
is wholly untrue, as is also the statement that he was
the author of a forged check. The item in question
over which there was a dispute which probably led
to the rumor of the Cashier’s disappearance, was an
ordinary debit charge for rent such .as banks use
every day.
A home institution was the successful bidder for
the Cerro Gordo County bonds issued by the Board
o f Supervisors, the First National Bank of Mason
City, through its President, C. II. MacNider, making
the highest offer for the 4 per cent bonds, which
showed how good the county paper is considered by
home institutions. (With the premium offered the
bonds will draw a trifle over 3-| per cent interest.
The amount is $15,000.
T.
J. Pollock, engaged in the banking business
Zearing, lias brought action for $50,000 against the
Illinois Central railroad. This action is based on
the death of the plaintiff, who was employed by the
railroad company as brakeman. TVliile switching in
the yards at Farley, the brakeman stepped between
two cars to uncouple them and it is alleged that the
train suddenly started to back up and that Farley
was thrown under the cars and killed.
House F ile 403, by Head, has passed the house.
It provides that any corporation organized under the
laws o f any state or territory outside of Iowa, which
shall establish an office in this state, for the sale of
stock, shall file with the Secretary o f State a certified
copy of its articles o f incorporation accompanied by
a resolution authorizing the service o f process to he
made on the Auditor of State in any suit brought
against it. The hill also provides that the corpora­
tion shall pay the full corporation fee.
S. A. Schneider, former Assistant Cashier of the
First Matronal Bank o f M ilford, has had to give up
his position on account o f his w ife’ s health and has
gone to Colorado Springs to locate. C. F. Nauss of
the State Bank o f Belmond takes his place. The bank
has ju st put in a fine set o f new fixtures from the

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Federal Reserve Bank of St. Louis

Merle & Heaney Co. of Chicago. They are all fine
oak, with private office for Cashier, and new tile
floor. The bank has a splendid business with de­
posits of $150,000.
The German Savings Bank of Freeport. 111., has
brought suit against J. N. Cassidy, Jr., of (Joun *ii
Bluffs, for $2,455, claiming that in September,
1900, Cassidy applied for a farm loan of $3,000
for John Damitz, that the sum was sent to Cassidy
to close the loan, but that lie subsequently informed
the bank that he had failed to complete the loan and
would return the cash. He failed to do so, and the
bank drew on him. He paid $600, hut the balance
remains unpaid.
M. A. Buchan, Cashier of the Bank of Dike, in
Grundy County, is announced as a candidate for
Clerk o f the Supreme Court before the coming re­
publican state convention. He has been Clerk of the
atCourts of Grundy County and made a splendid
reputation as an excellent official. Fie is a gentle­
man of excellent ability and well qualified for the
position he seeks. The Fifth District has no rep­
resentation upon the State Official Board, and it
has good claims.
The stockholders of the First National Bank of
Prescott recently met and elected directors. After
the new directors were chosen, they met and elected
the following officers: President, J. C. A llen ; Vice
President, H. C. Reese; Cashier, W. P. Shinn. The
change was made necessary by the resignation of T.
F. King, lie having disposed of his interest in the
hank. Mr. Shinn, who takes Mr. K ing’s, place, is
well known throughout the country, he having served
as County Treasurer for two terms.
The new fixtures for the First National Bank of
Storm Lake have arrived. The new fixtures con­
sist o f about forty feet of counters from Kloak
Bros., furniture dealers, Cincinnati, Ohio. They
are of quarter sawed oak, finely polished. A new
safe has also been purchased to replace the old one. . It
is made by J. J. Deright & Co., of Omaha, and is
of six inch steel, measuring 24x25x48 inches, and
weighing between M, 5 00 and 6,000 pounds. It B

2Ó

TH E NORTHWESTERN

SEGUR1TY
SAYINGS
BANK

Capital and Surplus,$ 130,000.00
Deposits,
1,350,000.00
Does no Commercial Banking, but otters for Iowa business the services
of a careful, competent and exclusive Savings Bank, paying interest on
deposits at the rate of

Q

1/
/ 2

P er
Cent

T H E CEDAR R A PID S
N A TIO N A L BANK

Cectaf Rapids

G. F. VAN VECHTtN, President

E. M. SCOTT, Cashier

fitted with the latest devices for safety, and when
closed is perfectly water tight and as near perfection
in the way of being burglar proof as it is possible
to make a safe. ¡With these new appliances the
First Rational is now sure of being able to conduct
its business with the public in a satisfactory man­
ner.
There have been growing indications. throughout
Iowa that the candidacy of Fred A. Bennett of Sioux
City, President of the People’s Savings Bank, for
State Auditor on the republican ticket would he
favored by strong party leaders. Mr. Bennett has
a wide acquaintance throughout Iowa by virtue of
his peregrinations as a State Bank Examiner, and
counts among his friends many o f the strong re­
publican leaders of the state. Newspaper comment
has been favorable to his candidacy.
It has been decided to call Webb’s new hanking
institution the Citizens’ Bank of Webb. C. B.
M ills o f Sioux Rapids and A. S. Wilson of Mara­
thon have purchased a half interest in it, which in
connection with the five stockholders of the Citizens’
State Bank of Spencer, gives it financial backing
second to none in FTorthwestern Iowa. It will he
run as a private bank at present, hut there is a
probability that it w ill be organized into a savings
bank at some time in the near future.

April, 1902.

BANKER.

OF IO W A

Capital, $100,000.
Surplus, 70,000.

UNITED
STATES
DEPOSITARY

O F F IC E R S A N D D IR E C T O R S
A. T. A v e r i l l , President
C h r is t ia n M agnus
G. F . V a n V e c h t e n , Vice-Prest.
P. E . H a l l
G e o r g e B. D o uglas
E d . H. Smith
R a l p h V a n V e c h t e n , Cashier
U N E X C E L L E D CONNECTIONS TH R O U G H O U T IOW A
FOR HAN D LIN G COLLECTIONS AND B AN K ER S’ ACCOUNTS

about three months ago, they blew the side of the
bank out. The town was awakened and a posse was
organized. The robbers escaped, but were captured
in a school house near the Missouri line the next
day.
The First Rational Bank of Mt. Pleasant has
just received word from .Washington that the U ni­
ted States government has selected it as a United
States depository, and the sum of $ 100,000 from the
treasury will he transferred for keeping into the
vaults of this financial institution. This was done
on condition that the First Rational Bank here in­
vest the above sum in United States bonds. $ 100,000
worth of 2 per cent bonds have been purchased and
will he deposited with the government at Washing­
ton, and the big deposit made.
An exceedingly large deal in Uorthern Minne­
sota lands has just been consummated in St. Paul,
whereby a number of Iowa hankers and others be­
came the owners of 250,000 acres of land in Aitkin,
Cass, Carlton, Crow W ing, Itaska and Hubbard
Counties, Minnesota. The gentlemen are J. A. Felt
house, C. H. McUider, J. A. Kamudson and George
W. Brett of Mason City, together with C. A. Cos­
grove of Minneapolis, G. B. Barnes, Jr., of St. Paul
and others. The gentleman .are placing their land
again on the market in farm lots.

The report of the Clearing House Association for
The Fulton, 111., Bank is one of the solid .and re­
March tells a plain story of progress in Des Moines. liable banking houses of that part of thè country.
March clearings ................................. $10,157,240.45
T. B. Ingwersen, the proprietor, has decided to exSame month last year........................
8,076,471.25 . tend the business still further and will associate
In other words, Des Moines is to he rated in with him an equal stockholder, Gustave Grader!,
showing by years a $133,000,000 town instead of of Lyons, but formerly of W est Side, Iowa, who
a $100,000,000 town. And if the clearings grow has had fifteen years’ experience in the banking
as they have since January 1, it will he known as business. They will incorporate under the laws of
la $150,000,000 town— a town that has grown fifty the state as a State bank with $50,000 capital. Mr.
per cent in commercial volume.— Des Moines Hews. Gradert will move to Fulton and give his entire
The three Brooks bank robbers have plead guilty time to the attention of the business.
in court .and were sentenced by the judge to five
The town o f C.arson is now sure to have a second
years each. The sheriff started to Fort Madison bank. Articles of incorporation of the State Sav­
with the prisoners at once. The robbery was one ings Bank, with $ 20,000 capital divided into 200
o f the boldest ever committed in that locality. In shares were filed recently. The incorporators were :
attempting to blow open the bank vault at Brooks, George S. Dye, D. A. Snapp, J. B. Johannseri, W. M.

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

April, 1902.

TH E NORTHW ESTERN

BANKER.

27

Pft NATIONALBANK*
^ o
B A N K IN T H E S T A T E O FFE R S A B E T T E R 'O R S A F E R
J ’ service to Banks and Bankers who appreciate a careful, conservative
and prompt correspondent. This is a big advantage in doing business with
a progressive institution like this.

3Z
Iloltze, P. E. Johannsen, Joshua Alston, J. F.
Reed, J. <W. Griffis, J. H. Perry and Robert Lippincott. The officers are: President, Joshua Alston;
Vice President, J. B. Johannsen; Cashier, P. E.
Johannsen.
The Johannsens formerly owned the
German Bank of (Walnut, this county.
In all probability another dividend will he de­
clared in the matter of the receivership of the Leeds
Commercial Savings Bank, which failed some years
ago. This institution holds the record for paying
out, 80 per cent o f its obligations having already
been settled. Receiver F. B. Robinson says there
is now no question that the debts of the bank will
be paid in fu ll at 100 cents on the dollar. The as­
sets have proved to be good, and with careful hand­
ling those still remaining in the hands of the re­
ceiver have shown an increase in value.
John E. Brownlee, for eight years past connected
with the Iowa Rational Bank of Davenport, has re­
signed his position with the bank .and gone to Arte­
sian, S. D., where he will go into the cattle business.
Mr. Brownlee will form what is known at the Hawkeye Cattle Company, with a capital of $50,000 of
which he will be President and manager. The other
members o f the Board o f Directors and officers will
b e : J. E. Burmeister, Vice President .and director;
II. M. Decker, Secretary and Treasurer and director,
and C. W. Decker, also a director. The company has
1,440 acres of land.
B. R. Crawford, a stock buyer, speculator, capi­
talist, litigant and newspaper correspondent of Rewburg has disappeared. There is nothing mysterious
.about this disappearance; lie has simply absconded.
Last Tuesday he started for Chicago with several car­
loads of stock, worth from $5,000 to $ 6, 000. He set­
tled with the parties who brought in the cattle and
hogs by giving them checks an the Citizens’ Bank at
Grinnell. * Many o f the checks were cashed by the
Bank o f Gilman and forwarded to that bank’s cor­
respondent at Marshalltown, by that bank to Cedar
Rapids and from there to the Merchants’ Rational

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

Bank of Grinnell. When presented for payment Sat­
urday Crawford’s balance was only $1,300 and the
checks were protested.— Des Moines Register.
There was quite a rivalry among the banks of
Emmetsburg for the office o f Treasurer of the Emmetsburg Creamery Company. The directors held
several meetings to settle this matter. The prin­
cipal contestants were the Palo Alto County Bank
and he First Rational Bank. The latter bid as high
as $225 premium on the business and the Palo Alto
County Bank $260, and the job was accordingly
awarded to the highest bidder. As far as we know,
the Ememtsburg creamery people are the only con­
cern in Emmetsburg that has so far been able to
secure a bonus for their business from the banks.—
Emmetsburg Tribune.
Last week the Bank of Dallas Center bade adieu
to the old building that has done service so many
years, and shifted into its new quarters, the finest in
Dallas County and a credit to any city many times
the size of Dallas Center. Everything is built and
finished as best it can be. The floor subjected to
most usage is o f tile and all trimmings of oak
highly finished. The main business room is a
beauty. The ceiling is trimmed in oak intersected
into squares of about four feet, which make a very
neat and workmanlike appearance. The walls are
frescoed. The building is divided into three rooms,
which make it very convenient.
Brenton Bros,
have also added to the equipment a new adding ma­
chine.
Iowa farm sales are reaching enormous propor­
tions. The Red Oak Express states that the real
estate sales of Montgomery County during the first
week in March aggregated $672,128, and a total
of $1,217,563 for the two weeks ending with that
week, and that the Red O.ak Rational Bank “ had a
million and ia half on deposit, a large proportion of
which was used to meet payments for the farms pur­
chased.”
These sales indicate that about fifteen
million dollars is being invested in Iowa farms each

28

THE

NORTHW ESTERN

SECURITY

^pirst ¿R ational fâanlj
DUBUQUE),

IOWA.

C a p ita l, $ 2 0 0 ,0 0 0 . S u rp lu s and P ro fits ,
$ 4 S ,0 0 0 . D e p o s its , $ 1,2 2 9 ,0 0 0 .

A p ril, 1902.

BANKER.

NATIONAL BANK,
SIOUX CITY, IOWA.

—ESTABLISHED 1884-

O . H. E I G H M E Y , P R E S I D E N T .
E . A . ENGLER, V IC E -P R E S ID E N T .
O . E. G U E R N S E Y

C A S H IE R .

B . F . B LO C K L IN G E R , A S S 'T C A S H IE R .

D irectors.

C. H. Eighmey,
E. A. Engler,
Geo. A. Bruden,
M. M. Walker,
M. R. Amsden,
F. W. Coates,
Jas. C. Collier,
0 . E. Guernsey.

week, and that a groat many farmers are going to
be sorely disappointed in their hope that they will
be able to find another Iowa. There is only one
peerless state, and the men who sell Iowa farms are
throwing away the best and siafest investment on
the earth.
The Teachout bill, collecting and codifying the
laws regarding the organization of loan and trust
companies, will meet with considerable discussion
when it comes before the House in the Iowa Legis­
lature. Several important changes are made in the
statute, probably the most important being the pro­
vision which places them under the same jurisdic­
tion as the banks of the state. They will he subject
to examination by the State Bank Examiner and in
this way their safety, the .author believes, will be
materially increased. The hill also contains a pro­
vision, however, which will meet with opposition
on the part of the lawyers at least. It gives loan
and trust companies the right to act .as trustees,
executors and administrators.
The lawyers will
oppose this on the same grounds that they opposed
the hill giving hanks this power.
The negotiable instrument .act, II. F. 351, which
passed the House recently and is now in the hands
of the Senate, is now a law in this identical form in
several different states, including the great commer­
cial states, such as Hew York, Massachusetts, Penn­
sylvania, Illinois, W isconsin and Ohio, and by act
of Congress, in the District of Columbia. Ohio has
passed it this winter, and a few days ago in New
Jersey the House adopted it by unanimous vote.
It does not change the Iowa laws in any particular,
it is said by those who back it, and the object of its
adoption is not to effect changes in the law, but to
codify the law on negotiable instruments and make
the same accessible .and certain for the business in­
terests o f the state. It has been said that it abol­
ishes days o f grace for Iowa. This is not true. The
bill has the endorsement o f members o f the Supreme
Court and of lawyers generally. It will conform
the.practice under Iowa laws to the practice in the

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Federal Reserve Bank of St. Louis

Lnited States
Depository.
W. P.

M

anley

,

Capital, $250,000
Surplus, 50,000

President.
C. L . W r i g h t , Vice-Pres.
T. A. B l a c k , Cashier.

states surrounding this one. It will undoubtedly
pass the Senate and become a law.
The Mt. Ayr News in referring to the great
amount of business transacted by two local banks
of that place during the last few weeks, makes this
interesting statement: “ The part that a bank plays
in the business economy of .a community has here
a striking illustration. On a combined cash capi­
tal of $40,000 these two banks carried on transac­
tions amounting to $560,000; that is, every dollar
Invested multiplied itself fourteen times through
the agency of banking, and the community got along
conveniently on one-fourteenth of the money that
would have been necessary had no banks or com­
mercial paper existed. A striking fact is this, that
at the close of a day when the two banks had taken
in over a quarter of a million dollars and had paid
out more than as much more, one bank had within
$500 of .as much currency as in the morning, and
the other within $1,500.”
The Lewis bill for the establishment of state de­
positories in which the state’s funds might be loaned
out at interest came up recently in the legislature.
This bill had been up before and had been discussed
at length. It proposed that the Treasurer of State
should deposit any surplus o f funds in the state
treasury in a banking institution in the capital city,
or more than one which agreed to pay the highest
rate of interest therefor, provided it was not less
than 2 per cent per annum. The hill was discussed
at some length, and then Senator Lewis, the author,
moved that further consideration of the bill be post­
poned indefinitely. H e explained that he did this on
account of the lateness in the session and the fact that
already .a large amount of time had been consumed
in its consideration with the result that the senators
did not seem to be any nearer an understanding re­
garding it than when it was first taken up. The
motion for indefinite postponement carried.
An important change in business circles has ju ;t
been completed in Creston by the purchase of Sid­
ney Richardson into the First National Bank and

April, 1902.

W

TH E NORTHW ESTERN BANKER.

29

H E N a friend is starting to ST . P A U L he w ould appreci*
ate the courtesy of an introductory letter to a prominent

Bank there, if you w ill give him one to the

St,¿Paul Rational iPank,
5th and Jackson Sts,,

St, SPai/t, 7/finnesota,

he w ill receive courteous attention.

through which purchase he will become about May
1st the President of the Bank, succeeding H. S.
Clarke in that position. The First National Bank
is one of the strongest financial institutions in south­
western Iowa. It was changed from the private
Bank of 1). II. Mallory & Co. to a National bank
in 1891. The last published report of the bank on
March 1st shows $50,000 capital, $45,000 undivided
profits and deposits of $459,000. Mr. Clarke has
been president of this bank for many years past.
Chas. L. Bullard is Vice President and Myron I).
Smith, Cashier.
Mr. Richardson has been a stock­
holder and director for some time past and was for­
merly in the banking business, and will not, be a
novice in the bank management. Mr. Clarke will
continue 011 the Board o f Directors.
A recent incident at Mason City wherein a local
bank subscribed for ‘an entire issue of $15,000
worth of Oerro Gordo County bonds at a
price which made the money cost the county only
3 1-2 per cent interest suggests an opportunity that
is open to all counties. The Times-Republican is
firmly convinced that when a county can borrow
money at 3 1-2 per cent it can well afford to use
large sums in building permanent county roads. I f
the Iowa Legislature would pass such a road law
as the one doing so effective work in the state of
New York, that is, a law which provides for a dis­
tribution o f the cost of road construction between
the state, the county and the abutting property, and
if the law would then allow a county to issue bonds
for its road funds, Iowa could enter upon a cam­
paign of permanent road construction under compe­
tent engineers that would open a new era in Iowa
land values, an epoch of business prosperity. It is
estimated that there .are at least $750,000 of money
on time deposits in the Marshalltown banks today
drawing 3 per cent interest. The banks are hard
pressed to find safe investments for the money of
depositors that is merely left in their care upon de­
mand and it is s.afe to say that an issue of any coun­
ty’s bonds would be quickly taken at home at a very
low rate of interest. The Times-Republican believes

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Federal Reserve Bank of St. Louis

that scientific road improvement is worth enough co
a county’s real estate values and business interests
to make it highly profitable to a county to use 3 1-2
per cent money for the work on a large scale.— Mar­
shalltown Times-Republican.
On the 27th of February one F. S. Barnes, of
Denison, Iowa, bought four car loads of cattle at
Havelock, Iowa, agreeing to pay for the same $3,500,
and a sight draft on the Bank of Denison was drawn
for said amount. Shriver Bros., not caring to take
any chances on the draft being honored, refused to
accept the draft until they received word from the
bank on which the sight draft was drawn. Before
delivering the cattle they received a telegram pur­
porting to be signed by the Bank of Denison saying
that the bank would honor Barnes’ draft for $3,500,
and the cattle were then delivered. Again, on March
14, 1902, the same Barnes bought nine car loads, of
cattle from Schriver Bros., agreeing to pay for the
same $9,000, and made a check for said amount on
the Bank of Denison.
Schriver Bros., again, in
order to protect themselves, refused to ship the cat­
tle until they received word from the bank on which
the check was drawn that the same would be paid,
before shipping the cattle. They received a tele­
gram purported to be signed by the Bank of Deni­
son saying that it would honor the Barnes check
for $9,000, and the cattle were then shipped. On
March 19 the Sch river Bros, received notice of pro­
test of the drafts, .and immediately, accompanied
by their attorney, John A. Senneff, o f Britt, went
to Denison, and upon investigation found that the
telegrams purporting to be signed by the Bank of
Denison were in fact forgeries; that the same had
been telephoned to the operator at Denison by some
person unknown. After having thoroughly gone
»over the situation they went to Omaha, where the
cattle had been shipped by Barnes, but found that
same had been disposed o f and proceeds beyond
reach. Barnes has been arrested and is now in jail
at Denison, .and the Schriver Bros, have brought
action against the (Western Union Telegraph Com­
pany for $12,500 on the ground that the company

THE

30

NORTHW ÈSTERN

BANKER.

April, 1902.

K4 é é é é ê é
»
*
U
«i
*
if
«*
«fr
♦
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Overworked Office Men

In a majority of banking houses the periodical statements required by managers are not obtainable without laborious
work which often extends into the night. Overworked office men will find a remedy in

Baker-Vawter Bank Systems

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«fr which simplify office work, enabling them to secure the desired results with a minimum of time and labor. They can
be applied tD any banking business and installed at reasonable cost. As employers appreciate suggestions for better­
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PLEASE W R ITE FOR PAM PHLET, “ GENERAL EXP EN SE,”

EXPLAINING OUR BUSINESS.

Baker=Vawter Co., Chicago or Atchison, K ansas.

«fr A cco u n ta n ts , A u d ito r s , D e v is e rs o f B u sin ess S y stem s, M a n u fa c tu r e r s

by their agent was grossly negligent in transmitting
messages, bearing on their face such importance,
without first ascertaining by whom they were sent.
— Register.
THE BLUE BOOK.

The new Rand, M cN ally & Co.’s Bankers Direc­
tory is out and has been sent to its thousands of
subscribers throughout the country. This is the 39th
volume of this popular directory. It has kept pace
from year to year with the devlopment of the bank­
ing business and it is recognized as one of the most
complete and reliable books of the kind to be had.
W ith it at hand the banker has at command infor­
mation, classified and complete, in regard to banks,
bankers, banking law, bank usages, associations, etc.,
both in this and foreign countries. Published and
for sale by Rand, M cN ally & Company, Chicago, 1 1 1 .
----------------- ---------------- 1_______

Interests identified with the National Park Bank
of New York City have acquired sufficient stock in
the Yorkville Bank to give them control. The Yorkville Bank is one of the oldest and most prominent
State institutions in the city. According to its last
report to the New York Clearing House it had net
deposits of $1,414,100, and its loans aggregated
$1,359,000. It has a capital of $ 100, 000, and a sur­
plus of $231,100. The book value of the stock, the
bid price of which is given as 240, is 323. National
Park Bank interests dominate the affairs of a num­
ber o f banking institutions, among them the Mount
Morris Bank, a State institution, with deposits of
about $3,000,000, and the Plaza Bank, a State in­
stitution with deposits of $3,000,000.
An ancient cynic is said to have gone about with
a lantern looking for an honest man. A gentleman
of Kansas City, according to the Times, seems to
have been out on the same errand, but with different
means. He stood gazing intently down the street,
says the reporter, and then suddenly accosted a pas­
ser-by.

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Federal Reserve Bank of St. Louis

REPRESENTIYES IN ALL PRINCIPAL CITIES.

“ Excuse me,” he said, “ but did you just drop a
twenty-dollar piece ?” and he held out the coin be­
tween his thumb and finger.
The man whom he had addressed looked at the
coin, put on an expression of surprise, and made a
hurried search of his pockets.
“ Why, so I did,” he answered, “ and I hadn’t
missed it. Thank y o u /’ and he held out his hand.
The first man drew out a note book and said, “ I
thought so.” He took the name and address of the
loser, dropped the coin in his own pocket and turned
awray.
“ W ell,” said the loser, “ do you want it all as a
reward ?”
“ Oh, I didn’ t find one,” said the gentleman, “ but
it struck me that in a large city like this there must
be a great deal of money lost, and upon inquiry I
find that you are the thirty-first man who has -lost
a twenty-dollar gold piece this morning.”
On account of the convention of Federation of
Women’s Clubs, at Los Angeles, Cal., May 1st to
8tli, the Chicago Great Western •Railway (official
route) will run two excursions: The first leaving
Des Moines at 9 :00 p. m. Thursday, April 24th,
arriving at Los Angeles via the Santa Fe route at
8 :30 a. m. Wednesday, April 30th. Stopovers will
be made at Las Yegas, Hot Springs, Santa Fe, N.
M., and at the Grand Canon o f the Colorado in
Arizona. The second ercursion will leave Des
Moines Saturday, April 26th, at 9 :00 p. m. The
women of the Minnesota clubs are going with these
excursionists.
F or information and reservations,
apply to W . II. Long, city ticket agent, corner Fifth
and Walnut streets, Des Moines, Iowa.
4-31
The New York Times is one of the most reliable
journals of that great city. For a banker who de­
sires a first class paper »with trustworthy informa­
tion of important current events, the Times has no
superior.
The Chicago Record-Herald is a conspicuous ex­
ample of the success with which the public rewards
fearless nonpartisanship in the columns of a great

April, 1902.

THE

NORTHW ESTERN

RANKER.

.

3Î

500 to 1000 Depositors Guaranteed, O R N O PAY

ill bat (Ue Rave Done Tor Others me Can Do for you
O R G A N IZ E R S

PATENTEES

C O P Y R IG H T E R S

ALL, UNPRUNdEiVIErNTS PROSECUTED.

PATRNTPROTECTED
B V THE

PA. TBIVT T I T L E A N D
’G U A R A N T E E
COMP’V
INE W

YORK.

C o m m e rc ia l S av in g s B a n k ,
Capital $60,000.00.
Mason City, Iowa, Feb. 26, 1902.

W R IT E F O R P A R T IC U L A R S
Wire us at our expense and our
representative will call.

W . F. Burns Co., Chicago. 111.
Gentlemen: After ten years of experience with the
Auxiliary Savings Banks which have been in constant use
by our customers; and as an evidence of our faith in your
»ystem, we have placed an additional order with your com.
pany for five hundred more to be placed as per contract.
And further will say that after you have placed the five hun­
dred, we will duplicate the contract this day made with you,
making in all one thousand banks.
Hoping for your success, which will be our mutual benefit,
we beg to remain,
Very truly yours,
(Signed)
G e o . E. W in t e r , Cashier.

W e m a k e a S p e c ia lty of
O rg a n iz in g S a v in g D e p a rt­
m e n ts for N a tio n a l B a n k s.

W. F, BURNS CCX, 70 La Salle S t, Chicago,
metropolitan daily paper. It is an independent
newspaper in which men and measures are invari­
ably viewed wholly from the standpoint o f the public
good and not from that o f the interests of any partic­
ular political party. It is the very reverse of neutral
— fearless and outspoken on all the great questions of
the day, hut presenting its editorial opinion upon
independent judgment and entirely regardless of
political affiliations.
Partisanship is barred as
strictly from the news columns as from the editorial
page. A ll political news is given without partisan
coloring, thus enabling the reader to form correct
conclusions for himself. In the ordinary partisan
newspaper political news is ordinarily colored to such
an extent as to make it difficult if not impossible for
the reader to secure a sound basis for intelligent
judgment,

C A SH C A P IT A L ,
$ 1 0 0 ,0 0 0 .0 0 .

information, features that appeal especially to bank­
ers as is shown by its steady growth. The book is
up-to-date and reliable and is sold at a compara­
tively low price. Published by Bradford Rhodes &
Co., New Y ork City.
$ 3 .0 0 — W H ITN EY’ S

SPECIAL

Y IA

CHICAGO

GREAT

WESTERN R A IL W A Y .— $ 3 .0 0 .

To Kansas C ity and St. Joe and return Saturday,
April 12, 10:30 p. m.; return following Sunday and
Monday evenings. Special coaches for ladies and
escorts free, purchasing ticket in advance.
For
further information see W. H. Long, Ticket A gent,
Fifth and Walnut streets. Geo. Bristow, D. P. A.
EXTENSION OF TIME.

A BAN KERS’ DIRECTORY.

The “ Red B ook” — Bradford Rhodes & C o .’s
bankers’ directory for January is out. The “ Red
B ook” contains all the information likely to be
required in the daily routine of bank business and is
most convenient in size and weight. It is especially
arranged Hr rapid reference and concise banking


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Federal Reserve Bank of St. Louis

Owing to the severe storms and impeded travel
to the north and northwest during March, the Iowa
Central road has extended its time for selling sel­
lers’ one way tickets to points in Minnesota and the
Dakotas to April 15, 22 and 29 next. Make note of
it and tell your friends. For further particulars,
call on your local railroad agent or address George
S. Batty, G. P. & T. A., Marshalltown, low,a.

TH E NORTHW ESTERN BANKER,

32

April, 1902'.

I O W A ’ S L E A D IN G B A N K S U P P L Y H O U S E .

t h e

P r in t in g C o m p a n y ,

io w a

B A N K O U T F IT T E R S .
G

en eral

B

P

r in t e r s

lan k

B

, L

ook

^

it h o g r a p h e r s

Ma

k e r s

,

,

W®' are t^ie onU concern in the State fully equipped
to PROMPTLY supply you with everything in
the Stationery line. Write us for illustrated catalog
and samples.

I O W A P R I N T I N G C O M P A N Y , D E S M O IN E S , I O W A .

BOOK R E V IE W S.

N I GH T SID E OF N A T U R E . B y Thompson
Jay Hudson. The term “ Night Side of Nature” is
borrowed from the German, meaning that which is
seen indistinctly and not fully understood.
The
author takes up the wonders of the mind, particularly
that phenomena which seems to he interruptions of
those general laws by which God governs the uni­
verse. The object of the author is to suggest inquiry
and stimulate observation, in order that we may en­
deavor, if possible, to discover something regarding
our psychical nature, as it exists here and it to exist
hereafter. Henry T. Coates & Co., Philadelphia.
A SH O R T H IS T O R Y OF T H E M IS S IS S IP P I
V A L L E Y . By James K. Hosmer. Mr. Hosmer
tells of the coming into the Mississippi Valley of the
Spaniards, the French, and the English, and des­
cribes the conflicts and the changes of control until
the Americans were masters. The narrative includes
brilliant individual actors, Coronado, La Salle,
Boone, George Rogers Clarke, Jackson, Farragut and
Grant, and it embraces the immense industrial and
commercial activities of today. Houghton, Mifflin
& Co., Boston and New York. Price, $ 1.20.
D E M O C R A C Y A N D T H E T R U STS. By Edwin
B. Jennings. Just now the trusts are attracting a
great deal of attention. In this age of intense com­
petition and wealth seeking the modern trust has
entered the field and is already a dominating factor
in many lines. The author takes the position that
trusts cannot exist in a free country; He gives some
interesting particulars of the workings and influence
of our larger trusts. The Abbey Press, New York.
Price, 50 ceents.

“ O PPORTUNITIES.”

Opportunities is the name of a little book published
by the emigration department of the Northern Paci­

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Federal Reserve Bank of St. Louis

fic, which gives a list of openings in the different pro­
fessions and lines of business in the various towns
traversed by this road. Each town which needs any
industry not at present located there is fully des­
cribed therein. Persons who are anxious to engage in
any particular line of business can readily see, not
only where there is an opening for them, but just
how promising that opening is. Along a system as
large as the Northern Pacific there are bound to be a
great many points where stores of various kinds,
mills, brick yards, banks, creameries, factories, etc.,
are needed. Anyone with a little money to invest,
who wishes to embark in any of these lines will do
well to write for a copy of this book to Mr. C. W.
Mot, General Emigration Agent, Northern Pacific
Ry., St. Paul, Minn. For rates and other informa­
tion address G. D. Rogers, D. P. A., N. P. R., Des
Moines, Iowa, or Chas. S. Fee, G. P. & T. A., N. P.
R., St. Paul, Minn.

THE “ NORTH COAST LIM ITED ”

Train of the Northern Pacific, which created such
a furor during its first season, in 1900, is again shoot­
ing back and forth across the continent in all the
glory of its former days.
This Crack Train of the Northwest, almost en­
tirely new for 1901, is the epitome of modern pas­
senger train construction. The Dining Car, with its
a la carte breakfast and lunch, and table d’hote din­
ner for $ 1. 0 0 ; the unequaled Tourist Sleeping Oar
of 16 sections, roomy lavatories and electric lights;
the first class Drawing Room Pullman with two
electric lights in each section, and the palatial Ob­
servation car with two smoking rooms, buffet, barber
shop, bath, library o f 140 volumes, current maga­
zines, ladies’ parlor and observation platform, all
together form a train of unusual comfort, excellence
and even luxuriousness, even in this day of luxuries.
O f course, broad vestibules, steam heat and steel
platforms are there, and there are nearly three hun-

TH E NORTHW ESTERN BAN KER.

x-l-4-4- + + 4- + + + + + + + + + + + + + + + + + 4* + + + + î <

April, 1902.

33

l-+ + + 4 "f>+ + + + + + 4 '4 '4 '+ 4 ’4 '+ + 4 >4 » 4 '+ + + + 4 i+ 4 ‘4>4’4'4,4,4"i,4"l,+'*,4'4"i*<t,’*,+ 4 “*>4,4,4 '4 '+ + 4 >4>+4"i"t*'l*<4’4*+'l>+ -t'4 *+ + + + 4 >+ + <lr4*4>+Ji

HIGHLAND PARK COLLEGE,
e DES

MOINES, IOWA.

Highland Parh College Comprises the Lollowlng Schools and Colleges:
The Business College
The College of Letters and Science
The Academy
The Normal College
The School of Art
The College of Law
The College of Music
The College of Pharmacy
The College of Oratory
The College of Engineering
The Correspondence School
The College of Shorthand and Typewriting
The College of Telegraphy
P e rs o n s in te re s te d in an y co u r s e s o ffe re d by H ig h la n d P a rk
C o lle g e are in v ite d to sen d tor the c o m p le te catalogu e and circu la rs
o f in fo rm a tio n , w h ich can be s e c u r e d by a d d re s s in g the P re sid en t.

L arge
and Competent Faculty— Fine
Buildings
c
,
n i t
..
Splendid Equipments — Unexcelled Location
Moderate Expenses
-

_ _ DC- D iru n m ■
1
C' c - REARICK- Des Moines' low0'

G erman S avings
*^

^ *

ASSETS.
L o a n s ................................................................................................$ 6 ,7 3 0 ,7 0 5 05

DavENP0RT» I0 w a
* *

ST A T E M E N T , D E C E M B E R io , 1901.

CASH CAPITAL $500,000.00.

C a sh an d E x c h a n g e . .. ..............................................................

7 1 6 ,9 8 7 .5 8

R e a l E s ta te and P e r s o n a l P r o p e r ty ................................

6 8 , 7 99 .55

Total Assets............................................ ....................$7,516,492.18
J E N S L O R E N Z E N , P r e s id e n t.
C H A S N . V O S S , C a shier.
H. L I S C H E R , V ic e -P r e s id e n t.
R . A N D R E S E N , A s s ’ t C a s h ie r.
E D . K A U F M A N N , A s s ’ t C a sh ier

L IA B IL IT IE S .

Deposits...................................................................................$6,730,121.32
Capital............... - .............................- ..................................
500,000.00
Surplus..................................................................................
200,000.00
Undivided Profits..............................................................
86,342.86

DIRECTORS.
F . G. CLAU SSEN ,
JEN S L O R E N Z E N .
H . L IS C H E R .

CH AS. N. VOSS'
H . O. S E I F F E R T .
T . A. M U R P H Y

H . H. AN D R E SE N .
F . H . G R IG G S .
P A U L O R O D D E W IG .

dred electric lights on the train, the baggage car and
day coaches being thus lighted also.
The train runs from St. Paul to Portland, Ore­
gon, passing through Minneapolis, Fargo, Bozeman,
Butte, Missoula, Spokane, Seattle and Tacoma.
Connections from Duluth and Superior and for
Helena are made enroute.
Send to Chas. S. Fee, General Passenger Agent,
St. Paul, six cents for Wonderland 1901, a royal
book having a chapter on this royal train.
LOW RATES.

Every day during March and April, 1902, to
points in Montana, Idaho, Washington, Oregon and
British Columbia via Chicago Great Western Rail­
way. Tourist sleepers and free chair cars to St.
Paul. For information apply to W. H. Long, City
Ticket Agent, corner Fifth and Walnut streets, Des
Moines, Iowa, or J. P. Elmer, General Passenger
Agent, Chicago, 111.
IMPORTANT TO SPORTSMEN.

Annual Handicap Shot at Kansas City.
For the Annual Grand American Handicap Shoot­
ing Tournament at Kansas City, Mo., March 31 to
April 5 next, the Iowa Central Railway will sell ex­

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

Total Liabilities.................. - ................................

$7,516,492.18

cursion tickets on March 29 and 30 at very low
rate of one fare for the round trip from all stations
on its line; tickets good deturning April 7. There
will be some tine events for trophies. Apply to local
ticket agents or address Geo. S. Batty, G. P. & T.
A., Marshalltown, low,a.
$ 2 9 .2 5 TO CALIFORNIA.

Tickets on sale every day during March and April
with choice of three through tourist sleeping cars
via Chicago Great Western Railway. For informa­
tion apply to W. H. Long, City Ticket Agent, cor­
ner Fifth and Walnut Streets, Des Moines, Iowa.
A Map of Yellowstone Park.

A large map, about 22x28 inches, of the world’s
most renowned spot, scenically, can be obtained for
ten cents from the Northern Pacific Railway. The
map is in relief and colors, shows all the lakes,
mountains, rivers, geyser areas, the tourist route,
and hotels and is equally valuable for school rooms
or homes. It is based on the U. S. Geological Sur­
vey map, and was made by one of the best map
making houses in the country after a special trip
through the Park to view the region..
Send Chas. S. P"ee, G. P. A . of the Northern Pacific
Railway, ten cents and it will be sent to any address,
mailed in a pasteboard tube.

THE

34

NORTHW ESTERN

TH OM AS

BANKER.

April, 1902.

Q. O R W I O

&

C O .,

( e s t a b l is h e d 1872.)

S O L IC IT O R S

OR

Sixth Floor Crocker* Bldg., S. W .
Cor. W . Fifth and L o cu st S t s .,
To

^0agiraM

PA TE N TS,
D E S

M O UN ES, IO W A .

I nvent or s—

Send us a drawing model or written description of your invention, and if we find it has
patentable merit we will advise accordingly, and at the same time give all necessary instruc­
tion» about proceedings required to secure a patent. For such service we make no charge.
Valuable printed matter free. W e transact business direct with the Commissioner
at Washington, with general satisfaction, as numerous inventors cheerfully testify. Pat­
ents procured through our office have the United States Patent Office seal and are for all
the states and territories of the United States. Drawings and specifications of new inven­
tions promptly and accurately prepared, and applications for patents filed and prosecuted
in the United States Patent Office. Special attention given to rejected cases. Disclaim­
ers, powers of attorney, assignments, licenses and agreements prepared and recorded.
KSF^When Patents are allowed to our patrons, we give notice thereof in the newspapers.
MR. O R W fG has been for more than twenty-five years one of the most prominent and
successful solicitors of patents in the West, and I know of no one better qualified to furnish
the information here desired. He is not only an adept in his profession, but h« is a
reformer and philanthropist as well. He is a friend of the masses, and believes in fair
play—in the practice of the Golden Rule—in matters of business. Therefore, the author
of this book takes great pleasure in introducing him to his readers,— E .B .E bersole, A , M . ,
L L . D , E d ito r Iow a Code.

BANKS, SAFES AND F IX T U R E S FOR S A L E -P O S IT IO N S
[Reading locals in this column will be printed at a cost of 50c. a line
for first insertion: 25c. a line for subsequent insertions.]

F or S a l e .— Bank fixtures for small bank.

A county
seat bank moving into new quarters will sell their
old fixtures at a bargain. Address George, care of
N orth w estern B a n k e r .

F or S a l e — In South Dakota, in Faulk county 160
acres; in Hyd'e county 320 acres. These lands are
owned by a non-resident and will be sold cheap.
Address, H, care of N o r t h w e s t e r n B a n k e r .
F or S a l e — Cashiership, ten shares stock and resi­

dence property in town
stock of bank, $10,000.
paying dividends of 12
“ Northern Cashier,” care

in northern Iowa. Capital
Doing a $90,000 business,
to 14 per cent. Address
of N o r t h w e s t e r n B a n k e r .

W a n t e d — A young man thirty-five years old.
eleven years experience, now cashier of a bank
wishes to change location. W dl invest $1.000 to
$5,000, Good reasons for changing. Address “ E x ­
perienced Cashier,” care of T he N o r t h w e s t e r n
Banker.
P o s i t i o n W a n t e d — Employm ent in a bank as
Cashier or Assistant. Have had 10 years exp eri­
ence in the banking and real estate business. Want
to get in some live town
Can invest $1000.00 if
necessary.
A m young married man.
Can talk
German. Best of references furnished. Address
L. F. K. care Northwestern Banker.

F or S a l e .— A new $100 Yost Typewriter. Firstclass machine. Will take $85 for it. Address Geo.
C. Carpenter; care N o r t h w e s t e r n B a n k e r .
F or S a l e .— A Smith No. 2 (double capacity)
Counting House Index Dairy, for making recording
maturity of bills receivable, bills paid, collections,
or any matters requiring ready reference. Publish­
ers price, $4; our price, $3, Also A -N o -i at $2.50.

W e have several good bank men wanting posi­
tions. Some have money to invest, others have not.
A ll well qualified and with best of references.
•L D . C L A R K C O . , 720 Grand Avenue, Des
Moines. Metal Cornices, Skylights, Gutters, all kinds
of Sheet Metal Work. Special attention to Bank Work.
Estimates furnished.
BANKING SYSTEMS OF THE WORLD,

Their history and methods. Reliable, up-to-date,
and of the highest authority. Bound in cloth, fine
paper. Price, $1 00, Postpaid on rece ip t of price,
b y the N o r t h w e s t e r n B a n k e r , Des Moines, Iowa

W a n t e d — General work in a bank by an experi­
enced and trustworthy young man. Reference, pres­
ent employer. Address W . A . C , care N o r t h w e s t ­
er n

B anker.

A banker of means and experience wants to buy
all or a controlling interest in a good western bank.
Address R. H., care of N o r t h w e s t e r n B a n k e r .
W a n t e d — Position as cashier or assistant cash er
by man of experience Reference, present employer.
Address J. L., care N o r t h w e s t e r n B a n k e r .

W e have had inquiry lately for second hand safes
and bank fixtures, and could probably find sale for
them if fully advertised. If you have anything of
the kind for sale write T he N o r t h w e s t e r n B a n k e r

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

New and second-hand
Bank Safes for sale^

H A L L ’S

SAFE

OMAHA. NEBRASKA.

CO.

TH E NORTHW ESTERN BANKER.

April, 1902.

35

The JACKSON SANATORIUM,°'""""SÎwvork"
A tte n tio n is c a lle d to this in s titu tio n o tterin g e x c e p tio n a l a d v a n ­
ta g e s and a ttr a c tio n s .
S taff o f R E G U L A R L Y E D U C A T E D and e x p e r ie n c e d P h y s icia n s ,
elega n t F I R E - P R O O F b u ild in g — b rick and iron ; all M O D E R N C O N ­
V E N IE N C E S
S p e cia l a tte n tio n to th e s cie n tific a d m in istra tio n o f W a te r , E l e c ­
tricity , P a s s a g e , Sw edish M o v e m e n t, R e s t-C u r e , and D ie ta r ie s to
m eet the n e e d s o f c h r o n ic in valid s.
T h e fa m ou s M oliere E le c t r ic B ath .
(S e n d fo r lite r a tu r e .)

The Schott System of Nauheim Baths
and Exercises for Heart Disease.
S p ra g u e ’ s H o t A ir B a k e r fo r J o in t D is e a s e s , R h e u m a tis m , G ou t, e t c .
F in e G o lf L in k s , d e lig h tfu l sce n e ry, e s p e c ia lly g o o d cu isin e.
fo r illu strated lite ra tu re , te rm s, e t c . , a d d re s s in g

Send

J. ARTHUR JACKSON. M. D., Mgr.

MACDONALD,MeCOY&CO.,
171 L a S a lle St., C h ic a g o .
'«^ __D E A L E R S IN___ -**

Municipal and Corporation Bonds
INCLUDING ISSUES OF

MUNICIPALITIES,

STREET

RAILWAYS,

WATER,

GAS, ELECTRIC AND POWER COMPANIES.

W r i t e us if you w is h to B U Y o r S E L L .

W e Offer, Subject to Prior Sale,

C H O IC E O K L A H O M A

FIRST MORTGAGES
on im p ro v e d iarm s, w orth fro m 2 Yi
to 5 tim e s the a m o u n t lo a n e d th ereon

N e ttin g

per

th e

ce n t,

in v e s to r

in te r e s t.

E a ch o f th e se cu ritie s has been p e r s o n a lly e x a m in e d by o n e of
ou r salaried exa m in e rs. W r it e fo r o u r latest o ffe r in g .

W IIN IN E
W in n e

B ld g .

&

W IIN IV B ,

W ic h ita ,

K an sas.

Bismarck Bank,

Bism arck, North Dakota,

Offers the following choice lands for sale
at one-third less than value, and on terms
to suit purchaser.
BURLEIGH COUNTY, NORTH DAKOTA.

Northeast quarter of Sec. 7, Twp. 139, R. 78.
Southeast quarter of Sec. 15, Twp, 138, R. 78.
Northeast quarter of Sec. 8, Twp 137, R. 77.
Southwest quarter of Sec. 18, Twp. 138, R. 77.
Southeast quarter of Sec. 6, Twp 139, R. 80.
West half of Sec. 33, Twp. 142, R. 80.
Southeast quarter of the notthwest quarter and lots
3, 4 and 5, of Sec. 6, Twp. 139, R 78.
M’LEAN COUNTY, NORTH DAKOTA.

North half of south half of Sec. 4. Twp. 146, R. 84.
Northwest quarter of Sec. 11, Twp. 147, R. 84.
STUTSMAN COUNTY, NORTH DAKOTA.

Northeast quarter of Sec. 1, Twp. 137, R. 68. •
EMMONS COUNTY, NORTH DAKOTA.

Southwest quarter of Sec 24, Twp. 135, R. 75.
SULLY COUNTY, SOUTH DAKOTA.

Southeast quarter of Sec 22, Twp 113, R. 75.

N ew

M a n a g e m e n t.

Finest ln Thie w est.

EQUITABLE TURKISH BATH ROOMS
AND BARBER SH OP.
......................... E q u ita b le B u ild in g , C o r n e r S ix t h and L o c u s t .............................

OPEN DAY AND NIGHT J* Clean, Comfortable Sleeping Apartments*?*Expert Bath Men from the Great Northern, of Chicago.

tnrRIsb, Russian, Electric Light, Electric, Plain and Pinnae Baths.
M a r b le F in is h e d R o o m s .


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

Mutual Phone 1366. Iowa Phone 107.

BENJ. F. PAKKER, Manager.

TH E NORTHW ESTERN BANKER.

36

April, 1902...

The Methods and Machinery of Practical Banking.
By

C. B, PATTEN,

for m any years cashier of the State National Bank of Boston,

THE SEVENTH EDITION OF THIS REMARKABLE BOOK IS HOW ON SALE.
T h e m o s t p r o m in e n t b a n k e rs o f th e c o u n t r y s a y th is is th e b e s t b o o k p u b lis h e d o n p r a c t ic a l e v e r y - d a y b a n k in g , a n d t h a t it o u g h t t o
h e in t h e h a n d s o f e v e r y o n e le a r n in g o r d e s ir in g t o b e c o m e m o re p r o fic ie n t in t h e b a n k in g b u s in e ss . M a n y o f t h e la r g e r b a n k s h a v e g iv e n
e a ch o f t h e ir c le r k s a c o p y , as h ig h as t h ir t y c o p ie s h a v in g b e e n b o u g h t b y o n e b a n k a n d m a n y o t h e r s p u r c h a s in g fr o m fifte e n t o t w e n t y -fiv e
c o p ie s . I t is n o t a b o o k o f t h e o r ie s o f w h a t t h e b a n k in g b u s in e s s o u g h t t o b e , b u t w h a t it is u n d e r p r e s e n t c o n d it io n s . T h e f o llo w in g s y n ­
o p sis o f t h e c o n te n ts w ill g iv e a n id e a o f its v a lu e :
C H A T T E R I.—T h e B a n k C l e r k a n d H is P r o f e s s io n . I n t r o d u c ­
t o r y . . T h e e d u c a t io n o f b a n k o ffic e r s ..A lw a y s b e p r o m p t. .F a it h ­
fu ln e s s in w o r k . .G o o d n a tu r e in d is p e n s a b le . .R a is e t h e s ta n d a r d
h ig h .
C H A P T E R I I .—T h e P a y i n g - T e l l e r a n d H is C a s h . F orm o f p a y ­
i n g -t e l l e r ’s b o o k ..H o w t o r e c e ip t f o r p a y m e n t o f ch e o lt. .P a y in g
p a r t o f a c h e c k ..S m a ll c e r t i f i c a t i o n .." G o o d w h en p r o p e r ly in ­
d o r s e d ,” w ith f o r m ..C o u n t y o u r m o n e y ..C h e c k s p r e s e n te d a ft e r
d r a w e r is d e a d . .M o n e y fo u n d o u t s id e th e c o u n t e r a n d w h a t t o d o
w ith it. .I n s id e a n d o u t s id e t h e g r a t in g . .T e lle r s as d e t e c t iv e s ..
A b o u t ra is e d c h e c k s ..I f t h e t e lle r is s h o r t ..T h e t e ll e r a n d h is
s p e c ie . .V a lu a b le p o in t s a b o u t th e a b r a s io n o f c o in . .U n ite d S ta te s
■tr e a s u r y n o te s , N a tio n a l b a n k n otes a n d s ilv e r c e r t i f i c a t e s .. M uti­
la t e d a u d c o u n t e r fe it p a p e r m o n e y a n d w h a t t o d o w ith i t . .
B r a n d in g w o r th le s s b a n k n o te s .
C H A P T E R I I I .—T h e R e c e i v i n g - T e l l e r a n d D e p o s i t o r s . F o rm o f
h is b o o k . .E n tr ie s in, w r itin g up, b a la n c in g , p r o v in g a n d d e liv e r y
o f p a s s -b o o k ..F o r m o f L o n d o n b a n k p a s s -b o o k .
C H A P T E R I V .—T h e B o o k k e e p e r ’ s D e s k . H ow h e s h o u ld k e e p h is
b o o k s , w ith p r a c t ic a l fo r m s . .C o n d itio n o f t h e b a n k a n d h o w
s h o w n ..H o w t o h a n d le c a n c e le d ch e c k s , w ith s im p le f o r m ..H o w
t o m a k e o u t r e p o r t s a n d re t u r n s t o C o m p tro lle r, w ith f o r m s ..
T h e S k e le to n L e d g e r , w it h fo r m c o r r e c t ly ru le d a n d p r in te d .
C H A P T E R V . — T h e C o l l e c t io n D e p a r t m e n t a n d M e s se n g e r .
F o rm s o f n o t e c o v e r s ..T h e c o l l e c t i o n r e c o r d .. D iffe re n t fo r m s o f
n o t ify in g p a r tie s , .A c a s h ie r ’ s n o t ic e in 1821..D u ties o f th e m e s­
s e n g e r .. W h y a d ra w e e w o u ld n o t p a y a d r a f t ..W h a t t o d o w ith
p e r is h a b le p r o p e r t y . .W h e r e t h e r e is d o u b t a b o u t d r a w e e ’ s p la c e
o f b u s in e s s ..W h a t " i n e x c h a n g e ” and “ w ith e x c h a n g e ” m e a n ..
I n t e r e s t u p on g r a c e ..W h e r e d r a ft h a s b ill o f la d in g a t t a c h e d ..
S h o u ld m o n e y b e p a id b a c k . .H o w e a r ly in t h e d a y is a n o t e d u e
. .N o te s p a y a b le a t b a n k .. P a y in g n o t e s and d r a ft s b y c lie c k . .R e ­
s p o n s ib ilit y fo r c o l l e c t i o n s .. " T ra m p ” c o lle c t io n s . .O ld a n d n ew
s y s te m s o f c o lle c t io n .
C H A P T E R V L —T h e B a n k ’ s N o t a r y a n d P r o t e s t i n g . R e s p o n s i­
b i li t y o f b a n k f o r w o r k o f n o t a r y ..P r o t e s t i n g ..W h e r e d r a f t is
s e n t b y e x p r e s s . .L o s t a n d m is la id p a p e r .. P ro te s t o f j o in t n o t e . .
W h e re n o r e s id e n c e o r p la c e o f b u s in e ss . .A c c u s t o m e d t o b e in g
p r o te s te d .
C H A P T E R V I I .—T h e D is c o u n t C l e r k a n d t h e L o a n . D is c o u n t
r e c o r d s w ith fo r m s . .R e s p o n s ib ilit y o f d is c o u n t c le r k . .M a tu r itie s
..M e m o r a n d u m s a n d t ic k e t s w ith fo r m s . .H o w t o t a k e c a r e o f th e
n o t e s . .R e c k o n in g in te r e s t illu s t r a t e d b y v a r io u s m o d e s . .A m a rk
o f o w n e r s h ip . .C a lc u la tin g t im e . .D is c o u n t t im e . .R a te s t o d e p o s ­
ito r s . .D e m a n d c o lla t e r a l n otes, w it h f o r m ..T h e r a te fo r lo a n s ..
B u y in g p a p e r. .T h e b r o k e r ’s r e s p o n s ib ilit y . .B u s in e s s an d a c c o m ­
m o d a t io n p a p e r c o n tr a s t e d . ." M a n u fa c t u r e d ” p a p e r . .M a n y n a m e
p a p e r ..L o n g a n d s h o r t p a p e r .. In flu e n ce o f c r o p s an d t r a d e ..A
s a fe g u a r d . .D is c o u n t in g w h en b a n k ’s r e s e r v e is n o t u p . .N a t io n a l
b a n k s a n d re a l e s ta te lo a n s.
C H A P T E R V I I I . T h e B a n k ’ s C o l l a t e r a l s . H ow t o file th e m ,
w ith fo r m s . .R e s p o n s ib ilit y f o r c o lla t e r a ls i llu s t r a t e d . .C o lla t e r a l
vs. p e r s o n a l s e c u r i t y . .S p e cim e n o f a n c ie n t fo rm o f b a n k c o lla t e r a l
n ote.
C H A P T E R I X .—B o n d s a n d C o u p o n s . R e g is t e r e d b o n d s . .D e s t r o y e d
U n ite d S ta tes b o n d s .. H ow a y o u n g m a n c o lle c t e d t h e m o n e y fo r
t h e a sh es o f b u r n e d b o n d s . .S to p p in g p a y m e n t o f b o n d s a n d c o u ­
p o n s .. H ow t o h a n d le co u p o n s , w ith f o r m .. A v e r y b a d p r a c t ic e .
C H A P T E R X . —T h e C a s h i e r a n d H is D u t i e s . R e s p o n s ib ilit y g e n e r ­
a lly d e fin e d . .R e la t io n b e tw e e n p r e s id e n t a n d c a s h ie r . .H is s p e c ia l
d u tie s . .H is s ig n a t u r e . .T h e b a n k ’ s c o r r e s p o n d e n c e .. T h e c a s h ie r ’s
re c o r d , w ith fo r m . H is d a ily m e m o r a n d u m , w ith fo r m ..T h e c a s h ­
i e r ’ s a g e n d a a n d s cra p b o o k . .A b o u t p a y in g d iv id e n d s , w ith m a n y
v a lu a b le h in ts.
C H A P T E R X I .—T h e St o c k —I t s O w n e r s h i p a n d T r a n s f e r . F o rm
o f s to c k c e r tific a te a n d r e c o r d b o o k ..H o w t o t r a n s fe r s t o c k ..A n
e x p e r ie n c e in a p r o b a te c o u r t ..N o n -r e s i d e n t s ’ e s t a t e s ..H o w a
t r e a s u r e r tr ie d t o t r a n s fe r s h a re s. .H o w t o t r a n s fe r s to c k t o d e a d
p e rs o n s . H o w t o t r e a t lo s t c e r tific a te s . .F o r m o f b o n d ..W h e n
s h a r e h o ld e r s c h a n g e t h e ir n a m es, w ith a c t u a l illu s t r a t io n s .
C H A P T E R X I I . —T h e B a n k ’ s C i r c u l a t i o n . F o r m o t c ir c u la t io n
r e c o r d ..S t o le n n o t e s ..R u l e s fo r th e r e d e m p tio n o f m u t ila t e d
b a n k b ills .R e d e e m in g fr a g m e n t s o f b i ll s .. W h ere b a n k b ills a re
lo s t . .O v e r -is s u e o f b a n k n o t e s . .T h e r e d e m p tio n b u r e a u a n d its
w o r k in g s .
C H A P T E R X I I I . —T h e M a i l a n d t h e T e l e g r a p h . T h e im p o r ta n c e
o f u s in g b o th ju d i c i o u s l y . .F o r m o f le t t e r r e c o r d . .R e g is te r in g
le tt e r s .. C o r re s p o n d e n ce b y te le g r a p h .. H ow to use t h e w ire s
r i g h t ly ..C e r t i f y i n g b y w i r e . . H ow t o w ire m o n e y , w ith a c t u a l
il lu s t r a t io n .. C ip h er te le g ra m s .

C H A P T E R X I V . —E x c h a n g e a n d L e t t e r o f C r e d i t . T h e p r a c t ic a l
w o r k in g s o f e x c h a n g e e x p l a i n e d ..L e t t e r o f c r e d i t a n d c ir c u la r
n o te , w ith f o r m ..H o w a l e t t e r o f c r e d it is u s e d ..I d e n t if ic a t io n
n o t n e c e s s a r y ..T h e a u t h o r ’ s in t e r e s tin g e x p e r ie n c e .
C H A P T E R X V .—A C h a p t e r o n C h e c k s . W h a t a c h e c k is a n d is n o t
..H o w c h e c k s s h o u ld b e d r a w n ..C h e c k s to o r d e r o f o n e o r t w o
p e rs o n s . .S a fe g u a r d s a g a in s t fr a u d . .E r r o r s in c h e c k -d r a w in g ,
h o w t r e a t e d .. A d v ic e o f c h e c k s d ra w n . .I s s u in g d u p lic a t e c h e c k s
..F o r m o f g u a r a n t y ..W h a t c e r tific a te s o f d e p o s it a r e ..S t a m p e d
e n d o r s e m e n ts . .E n d o rs e m e n ts b y t r e a s u r e r s illu s t r a t e d b y g o o d
a n d b a d fo r m s . .G u a r a n t e e in g e n d o r s e m e n ts . .Q u a lifie d e n d o r s e ­
m e n ts. .S to p p in g p a y m e n t o f c h e c k s ..H o w t o c a n c e l c h e c k s .
C H A P T E R X V I .—N o t e s a n d D r a f t s . E x p la n a tio n o f a ll im p o r ta n t
f e a t u r e s .. H ow t o w r ite t h e m c o r r e c t l y . .D r a fts a n d a c c e p t a n c e s ,
w ith fo rm .
C H A P T E R X V I I .—T h e P r e s id e n t a n d D ir e c t o r s . T h e ir d u tie s
an d r e s p o n s ib ilit ie s ..M e e t in g s a n d r e c o r d s .D ir e c t o r s in th e ir
r e la tio n t o th e o ffice rs o f a n d d e a le r s w ith th e b a n k . .T h e s e le c ­
t io n o f d i r e c t o r s ..T y p e s o f b a n k p r e s id e n ts ..E n d o r s e m e n t b y
p re s id e n t.
C H A P T E R X V I I I .—So m e W o r d s o n M a n a g e m e n t . M o o d s o f b u s i­
n ess m e n . .D e a lin g s w ith s tr a n g e r s . .T h e b a n k d o c t o r . .P r o p e r
d iv is io n o f la b o r . .B a n k in g c o n v e n ie n c e s o f t o - d a y . . K e o p up w ith
t h e t im e s ..O v e r w o r k in g b a n k o ffic e r s ..S a la r ie s o f b a n k o ffic e r s ..
T h e q u e s tio n o f b a n k c le r k s a n d m a r r ia g e ..A b o u t v a c a t i o n s ..
B a n k in g h o u r s ..C u r io u s p e t it io n o f B o s to n b a n k c l e r k s .. L u n ch
in t h e b a n k .. B a n k a t t o r n e y s ..W h e n th e b a n k e x a m in e r c o m e s ..
B a n k d e fa lc a t io n s . .S u n d a y b a n k w o r k . .N o t a m o d e l b a n k , il lu s ­
t r a te d .
C H A P T E R X I X . —O n P e r s o n a l M a t t e r s . T h e r e la t io n o f t h e d i f ­
fe r e n t d e p a r tm e n ts . .B a n k o ffice rs s h o u ld b e u n ifo r m ly c o u r t e o u s
..H o w le is u r e t im e s h o u ld b e e m p lo y e d ..A b o u t h a n d w r it in g ..
S ig n a tu re s . .P e n p a r a ly s i s .. D ea th o f a n o ffic e r . .‘W h e re b a n k offi­
c e r s s h o u ld re s id e . .B a n k c le r k s ’ in v e s t m e n ts . .T h e b a n k ’ s s e c r e t s
..S t u d ie s o f b a n k cle rk s .
C H A P T E R X X . —B u s in e s s a n d P l e a s u r e . R u s ty c le r k s . .H a b its o f
s tu d y . .B a n k e r s ’ in s tit u t e s . .T h e v a c a t io n a n d h o w t o sp e n d it.
C H A P T E R X X I . —B o n d s o f Su r e t y s h i p . M o ra l v a lu e o f a b o n d ..
F id e lit y c o m p a n ie s a n d t h e ir in q u ir ie s . .T a k in g th e o a t h ..O f f i ­
c e r s ’ b o n d s w ith e x t e n d e d N a tio n a l b a n k s . .R e n e w a l n o t n e c e s ­
sary.
C H A P T E R X X I I . — C o m m o n p l a c e C a r e s . L o c a t io n o f b a n k in g
r o o m s ..I n t e r n a l a r r a n g e m e n t..C a r e o f w a s te p a p e r ..B a n k l o c k s
a n d v a u l t s ..K e e p i n g o ld b o o k s a n d p a p e rs.
C H A P T E R X X I I I . —T h e C l e a r i n g - H o u se S y s t e m . F u ll d e s c r ip ­
t io n o f its w o r k in g s .. L o a n s b e tw e e n b a n k s .. R e tu r n o f d is h o n o r e d
c h e c k s ..A p e r s o n a l e x p e r ie n c e . H o w re t u r n s a re m a d e , w ith
fo rm .
C H A P T E R X X I V . —O u r E n g l is h C o u s in s . H o w b a n k in g is d o n e in
E n g la n d ..O p e n a n d c r o s s e d c h e c k s d e s c r ib e d .H o w a b a n k is
s ta r te d in L o n d o n . .B a n k in g p ro fits. .S o m e p r a c t ic a l d e d u c t io n s .
C H A P T E R X X V . —T r u s t C o m p a n ie s . W h a t t h e y a re a n d t h e ir
.p r a c tica l w o r k in g s .
C H A P T E R X X V I . —T h e Su f f o l k B a n k Sy s t e m .—G r a p h ic a c c o u n t
o f its w o r k in g s , w it h p ic t u r e s o f so m e o f t h e o f f ic e r s ..P e r s o n a l
r e m in is c e n c e s .
C H A P T E R X X V I I . —E v e r y d a y Q u e s t io n s a n d O t h e r M a t t e r s .—
T h e c h a r it y q u e s tio n .. S m a ll a c c o u n t s . S p e c ia l d e p o s i t s ..D i s ­
c lo s in g d e p o s it o r ’ s a c c o u n t s . F o r g e d e n d o rs e m e n ts .I n k r e s p o n ­
s ib ilit y . .L e g a l a n d ille g a l h o ld in g s ..W h a t is a le g a l s ig n a t u r e ..
S ig n in g b y m a r k ..V a l u a b l e s ig n a t u r e s ..P r o p e r u se o f b a n k in g
te r m s .T h e r e s e r v e q u e s t io n ..W o m e n in b a n k in g ..M e t h o d s o f
id e n t ific a t io n .. B r e a s tin g a p a n ic . U ltr a v ir e s . B a n k s a n d c l e r g y ­
m e n . .T h e a m u se m e n t q u e s tio n . .C a n a d ia n b a n k in g .
SU PPLEM EN TAL CH APTERS.
C H A P T E R X X V I I I . —I n s id e W o r k in g s o f a B a n k . H o w t o m a k e
e x a m in a tio n s a n d know t h e y a re c o r r e c t . .A q u ic k m e th o d o f d is ­
c o v e r in g c r o o k e d b o o k - k e e p i n g ..T e l l e r s ’ d iffe r e n c e s a n d h o w t o
r e m e d y th e m . .J o u r n a l e n t r ie s a n d c h a r g e t ic k e t s . .B e s t m e th o d
o f o p e n in g le d g e rs , w ith r u le d a n d p r in t e d fo r m , s h o w in g h o w t o
d o it. .S to p p e d c h e c k s a n d h o w t o h a n d le th e m , e t c .
C H A P T E R X X I X . —L a w f u l M o n e y R e s e r v e o f N a t i o n a l B a n k s
C o m p le te t a b le s and e x a m p le s s h o w in g h o w r e s e r v e is c o m p u te d
..F u n d s a v a ila b le fo r r e s e r v e u n d e r t h e la w n o w in f o r c e . .
F o rm o f r e p o r t s u b m it te d t o t h e C o m p t r o lle r o f t h e C u r r e n c y —

fa csim ile.

C H A P T E R X X X . —A C h a p t e r o n Sig n a t u r e s . H ow s o m e b a n k
o ffice rs w r ite t h e ir n a m e s (w ith fa csim iles). .B lin d s ig n a t u r e s a n d
p la in w r it in g c o n t r a s t e d . .F o r g e r y p r e v e n te d .

This book gives a great deal of practical information which no man can learn through everyday experience, except at a
great loss of time, and, in many cases, a loss of money as well. Bank officers of many years’ experience commend it as
well as those just learning the banking business.
* P a t t e n ’s P r a c t ic a l B a n k in g is a m o st e x c e lle n t w o rk , an d o n e t h a t m a y b e r e a d w ith p ro fit b y a n y b a n k e r
in t h e la n d , n o m a t t e r w h e th e r I10 h a s h a d y e a r s o f e x p e r ie n c e o r is s im p ly a j u n i o r c le r k . M a n y tim e s experience
T h e w r ite r o f th is b o o k h a s e v id e n t ly w o r k e d h is w a y p a t ie n t ly , a n d w it h h is e y e s o p e n ,
t h r o u g h e v e r y d e p a r t m e n t o f a b a n k .”

is an expensive teacher.


For Sale at Publisher’s Price, $5.00.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

THE NORTHWESTERN BANKER.

April, 1902.

37

S P E C IA L LIST OF IO W A B A N K S .
A L P H A B E T I C A L L Y A R R A N G E D BY T O W N S .

Showing Name o f Bank, Town and County, Capital, Surplus and Undivided Profits, Names o f Officers and

----------—

Special Facilities fo r the Transaction o f Business intrusted to their care.
(Adel State Bank.

ADEL,

C a p ita l, 150,000.
U n d iv id e d P r o fits , 15,000.
. T . J. C a ld w e ll, P re s id e n t.
W . B. K in n io k , V ic e -P r e s id e n t .
\S. M. L e a c h , C a sh ie r.

Dallas County.
B a n k in g in a ll its b r a n c h e s .

I First National Bank.

ALCONA,

C a p ita l, *50.000.00.
I S u rp lu s *10,000.00.
A m b r o s e A . C a ll, P re s id e n t.
] D. H . H u t c h in s , V ic e -P r e s id e n t.
O ld est N a tio n a l B a n k in
I W m . K . F e r g u s o n , C a sh ier.
K o ss u th C o u n ty .
1 C. A. P a lm e r, A s s is ta n t C a sh ier.
P r o m p t a tte n tio n p a id to a ll b u s in e s s e n tru ste d to us.

Kossuth County ................ (

/ First National Bank.

BOONE,

I

Winneshiek County Bank.

¡

DECORAH,

C a p ita l, $100,000.

Winneshiek County.

R e s p o n s ib ilit y , $300,000.
T h e m o s t c a r e fu l a t t e n t io n g iv e n c o lle c t io n s .
C J. W e ise r, P re s id e n t.
E. W . D. H o lw a y , C a sh ier,
H. B. H u s tv e d t, A s s is ta n t C a sh ier.

FOREST C ITY,
Winnebago County—

/Forest City National Bank. .4

I C a p ita l, *50,000.
i
S u rp lu s, $15,000.
I C. J. T h o m p s o n , P re s id e n t,
V G .S . G
Giilb
‘ e r ts o n , C
* a s "h ie r.
G eneral b a n k in g b u sin e ss tra n s a cte d .

FAIR FIELD ,

» ,

(First National Bank.
C a p ita l, $100,000.

C a p ita l, *50,000.
, , , J
S u rp lu s , *64,000.
Boone County
' * ' \ S. L . M o o re , P re s id e n t.
1 E . E. H u g h e s , V ic e -P r e s id e n t.
\ J. H. H e rm a n , C ashier.
•
. • ; , .
S .J . J a y n e , A s s ’ t C a sh ie r
D oes a g e n e r a l b a n k in g an d c o ll e c t in g b u s in e s s .

___ ____\ B. S. M c E lh in n y , P r e s id e n t. —
--------------- ! R o llin J. W ils o n , V ic e -P r e s id e n t.
'F r a n k L ig h t , C a sh ier.
S. L . D a n a , A s s ’ t C a sh ie r.
O n ly n a t io n a l b a n k in J e ffe r s o n c o u n t y . D o e s a g e n e ra l b a n k in g b u s i ­
n ess. P r o m p t a tte n tio n to c o lle c t io n s .

CASEY,

HUMBOLDT,

Farmers Bank.
E s ta b lis h e d , 1886.
ranm R u tt, P r e s id e n t a n d O w n er.
................ f AAbbra
L in c o ln R u tt, C a sh ie r.
j S. Lin'
I In
I n d iv iid u a l R e s p o n s ib ilit y o f o v e r $100,000.

Guthrie County
R e a l E s ta te L o a n s .

C o lle c tio n s r e c e iv e p r o m p t a tte n tio n .

The Castana Savings Bank.

CASTANA,

C a p ita l, $50,000.
Monona County
S u rp lu s $10,000. U n d iv id e d P ro fits , *1,500
W . T . D a y ,, P r e s id e n t,
S. D. W illit s ,. V ic e -P r e s id e n t.
C. T . H a n s e n ,C a s h ie r .
G e n e r a l b a n k in g b u sin e ss. N e g o t ia t o r s o f c h o ic e Io w a fa r m lo a n s .

CHARITON,

/
[

B a n k in g in a ll its b r a n c h e s .

'

CLINTON,

/Peoples Trust and Savings Bank.

C a p ita l, $300,000.
S u rp lu s and u n d iv id e d p rofits, $100,000.
A rte m u s L a m b , P re sid e n t.
C h a rle s F. A ld e n , V ic e -P r e s id e n t.
J. H . In g w e rs e n , C a sh ier.
v.G. E . L a m b , A s s is t a n t C a sh ier.
A c c o u n t s o f b a n k s and b a n k e r s a s p e c ia lt y .

/Corning State Savings Bank,
j C a p ita l, $50,000.
'

S u rp lu s, $10,000.
Adams County.
P ro fits , *3,100. D e p o s it s , *265,000.
I F. L . L a Rue, P r e s id e n t.
E. A . S c h o lz , V ic e -P r e s id e n t .
\W. H . C la r k , C a sh ie r.
G en era l b a n k in g b u s in e s s tr a n s a c te d . F a rm lo a n s a s p e c ia lt y .

First State Bank o f Corwith.

CORW ITH ,
Hancock County.
I
I
1.
A g e n e r a l b a n k in g an d c o ll e c t io n

DAYENPORT,

C a p it a l, $50,000.
O . H . S tils o n , P r e s id e n t.
E . L . S t ils o n , V ic e - P r e s id e n t .
J . H . S ta n d rin g , C a sh ier.
B e n .U . S ta n d rin g , A s s ’ t. C a sh ie r.
b u sin e ss tr a n s a c te d .

First National Bank.

C a p ita l, $200,000.
S u rp lu s an d U n d iv id e d P r o fits , *76,484,
J o e R . L a n e , P re s id e n t.
C h r. M u e lle r, V ic e -P r e s id e n t.
C. A. M ast, C a sh ier.
G en era l b a n k in g b u sin e ss
G eorge H o e h n , A s s is ta n t C ashier.
tr a n s a c te d .
T h e first N a tio n a l B a n k in o p e r a t io n in the U n ite d States c o m m e n ce d
b u s in es s J u n e 30, 1863.

Scott County ...........


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

.,

The Peoples Bank.
C a p ita l, $100,000.
S u rp lu s, $25,000 00.
|G. L. T r e m a in , P re s id e n t.
W . W . S te rn s, C a sh ie r.

Humboldt County.

A ll b u s in e s s g iv e n g o o d a tte n tio n .

IOW A FALLS.

(First National Bank.

I C a p ita l, $50,000.
/ S u rplu s a n d U n d iv id e d P ro fits , $50,000.
iiaiuin u o u n iy ............... ( E .S .E l lw o r t h , P re s id e n t.
|j. H C a rle to n , V ic e -P r e s id e n t,
IW . H . W o o d s , C a sh ie r.
\C. H . B u rlin g a m e , A s s ’ t C a sh ier.
C o lle c tio n s p r o m p t ly m a d e . C o r r e s p o n d e n c e s o lic ite d .
P A „»tr

KEOSAUQUA,
Yun Buren County...

Keosauqua State Bank.

i

C a p ita l, *27,800.

U n d iv id e d P rofits, *4,700.
H . H . T r im b le , P re s id e n t.
J . N . N o r to n , V i c e P re s id e n t.
MONTICELLO,
/ J.
The
Bank.
L. TMonticello
h e rm e , C a sh ieState
r.
C a p ita l, *100,000.
_.
_
.
,
S u rp lu s, $100,000.
Jones County ................... \ S. S. F a r w e ll, P re s id e n t.
F r a n k M. H ic k s , V ic e -P r e s id e n t.
H. M. C a rp e n te r,C a s h ie r .
H . S. R ic h a r d s o n , A s s is t a n t C a sh ier.
M o n e y to loan on I o w a fa rm la u d s.
C lle o tio n S a s p e c ia l fe a tu r e .

Clinton County

.

... . _

First National Bank.

C a p ita l, $50,000.
S u rp lu s an d U n d iv id e d P rofits, $54,000.
I . ./.oc inn ul r
J6. H. M a llo r y , P re s id e n t.
L U C a s u o u n i y ................... . J a m e s B ra d o n , V ic e -P r e s id e n t.
F . R. C r o c k e r C a sh ier.

CORNING,

Jefferson County .........( „ SFPJU£.\$°’000,.D

_____

MARENGO,

/Marengo Savings Bank.

C a p ita l, $50,000.
S u rp lu s, *10,000.
M. W . S tover, P re s id e n t.
JJ. N . W . R u m p le , V ic e -P r e s id e n t.
( A . M . H e n d e r s o n , C a sh ie r.
\F rank C o o k , A s s is t a n t C a sh ier.
C o n d u c t a g e n e r a l b a n k in g b u s in e s s . P r o m p t a t t e n t io n g iv e n to c a lle c t io n »
Tnwo

r n .ii.t v

rowa county......................(

MARSHALLTOWN.
Marshall County..

/

Marshalltown State Bank.
C a p ita l, $100,000.
S u rplu s an d P ro fits , $50,000.
A . F . B a lc h , P r e s id e n t.
G e o . A . T u rn e r, V ic e -P r e s id e n t
P . S. B a lc h , C a sh ie r.
1C. C . T r in e , A s s ’ t C a sh ier,

P r o m p t an d c a r e fu l a tte n tio n give n a ll b u s in e s s e n tru ste d o u r c a r e ,___

MT. PLEASANT,
Henry C ounty..

First National Bank.
C a p ita l, $100,000.
S u rp lu s, $20,000,
T . J . V a n H o n , P r e s id e n t.
W . E. K e e le r , C a s h ie r .
H. J. T w in t in g , A s s is t a n t C a sh ier,

D oes a g e n e ra l b a n k in g b u s in e s s .

C o lle c tio n s a tte n d e d to .

THE NORTHWESTERN BANKER.

38

April, 1902.

S P E C I A L L I S T O F I O W A B A M K S -C o n t i n u e d .
*

MT. A Y R ,

SAC CITY,

(M t . Ayr Bank.

Rlngrgold O u n t j . . .

C a p ita l, 850,000
Su rplu s an d P r o fits , 825,000.
D. E . H a lle tt, P r e s id e n t.
I E. C riss, V ic e -P r e s id e n t.
I H. H. A llis o n , C a sh ie r.
\ H. S. B a rn t, A s s is ta n t C a sh ier.
T r a n s a c ts a g e n e r a l b a n k in g b u sin e ss.
_

V J n o. H. A lly n , A s s is t a n t C a s h ie r.
Q en era l B a n k in g b u s in e s s tr a n s a c te d . F a rm lo a n s , real e sta te an d a b s tra cts

/F irst National Bank,

_

.

I

Sac County..................... {

First National Bank.

NEWTON,

C a p it a l, 850,000.
S u rp lu s an d U n d iv id e d P r o fits , 820,000.
C h e s te r S lo a n a k e r P re s id e n t.
E. E L y d a y , C a sh ie r.
kLee E . B r o w n , A s s is ta n t C a s h ie r .

Jasper County.........

G en era l b a n k in g b u s in e s s t r a n s a c t e d .
tio n .

N EW HAMPTON,

C o lle c tio n s r e c e iv e s p e c ia l a t t e n ­

C a p it a l, 850,000.
S u r p lu s ,87,500.
A . E . B ig e lo w , P r e s id e n t .
J. W . S a n d u s k y , V ic e -P r e s id e n t.
T im . D o n o v a n , C a s h ie r .
G ra n t M . B ig e lo w , A s s ’ t C a sh ie r.

O n ly N a t io n a l B a n k in th e C o u n t y . A g e u e ra l b a n k in g b u s in e s s t r a n s ­
a cted .

ONAW A,
( Holbrook & Bro.
Monona County............. \ E s ta b lis h e d 1U5S.
j
(

P . K . H o lb r o o k , C a s h ie r.
G e n e r a l B a n k in g B u s in e s s tr a n s a c t e d

W e m a k e a s p e c ia lt y o f p r o m p tn e s s in fu r n is h in g a b s t r a c t s .
g a g e s fo r sa le.

F a rm m o r -

Fremont Connty Bank.

SIDNEY,
Fremont Connty

C a p ita l, 825,000.
J. H. M c D o n a ld , P r e s id e n t .
.H . H . M c D o n a ld , C a sh ier.

S p e c ia l fa c ilit ie s fo r c o ll e c t io n s .

STORM LA K E ,
Buena Yista County .-,

First National Bank.
C a p ita l, 850,000. S u rp lu s, $10,000.
W . E. B r o w n . P re s id e n t.
L . J . M e t c a lf, V ic e -P r e s id e n t.
J . B . A le x a n d e r , A s s is t a n t C a sh ier.

O ne o f th e s p e c ia l fe a tu re s o f th is b a n k is its c o ll e c t io n and fa r m loan
d e p a rtm e n t.

/F irst National Bank.

TAM A,
Tama County.............

C a p ita l, 850,000.
S u rp lu s, 850,000.
J. L . B r a c k e n , P re s id e n t.
T . L . W illia m s o n , C a sh ier.
' D . E. G o o d e ll, A s s is ta n t C a sh ie r.
A g e n e r a l b a n k in g b u s in e s s tr a n s a c te d .

OSCEOLA,
/ Simmons & Co., Bankers.
Clarke County...............
C a p it a l, 855,000.

\

Clay

/The Citizens State Bank.

I «C a p ita l a u th o r iz e d , 850,000.
County............. C a p ita l p a id up, 825,000, S u r p lu s , 81,000
I F r a n k lin F lo e te , P r e s id e n t.
I A n d r e w R. S m ith , V ic e -P r e s id e n t.
V A c k le y H u b b a r d , C a s h ie r.

A ll b u s in e s s e n tru s te d to o u r c a r e o a r e f u lly an d p r o m p t ly t r a n s a c te d .

First National Bank.

Chickasaw County.

SPENCER,

W e ow n a fu ll a n d c o m p le t e set o f a b s t r a c t b o o k s fo r C la r k e C o u n ty .

WATERLOO,

( The First National Bank.

C a p ita l, $150,000.
[
S u rp lu s, $2 5 .0 0 0 .
I H. B . A lle n , P r e s id e n t,
v F . J . E ig h m e y , C a sh ie r.
M u n ic ip a l, c o u n t y a n d s c h o o l b o n d s b o u g h t a n d so ld .
F a rm lo a n s n e g o tia te d at lo w e s t ra te s. P r o m p t s e r v ic e .

Blackhawk County —

OSKALOOSA,

Mahaska County State

Mahaska County.
I
I

Bank.

C a p ita l, 8100,000.
S u rp lu s and u n d iv id e d p ro fits, 832,000.
W . R. L a c e y , P r e s id e n t.
H . S. H o w a r d , V ic e -P r e s id e n t .
J o h n R . B a rn e s, C a sh ie r.

( German American Loan and Trust

WAYERLY,

Co.’ s Bank.
Bremer County ................ /

D oes a g e n e r a l b a n k in g b u s in e s s .

C o lle c tio n s r e c e iv e s p e c ia l a tt e n t io n .

Oskaloosa National Bank.

I

OSKALOOSA,
Mahaska County.

C o lle c tio n s a s p e c ia lt y .

A g e n e ra l b a n k in g b u s in e s s t r a n s a c te d .

C a p ita l, 850.000.

rplu
A g e n e r a l b a n k in g b u s in e s s tr a n sS
au
c te
d . s a n d U n d iv id e d P r o fits , $44,000.
W. H. K a lb a c h , P re sid e n t.
H. L . S p e n ce r , V ic e -P r e s id e n t
C. E. L o fla n d , C a sh ie r.

City Exchange Bank.

POCAHONTAS,
Pocahontas C ounty...

W ill D . M cE w e n , P re sid e n t.
H . C. D o y le , C ashier.
B a n k in g and R e a l E sta te .

W APELLO,
Louisa County -

/The Wapello State Sayings Bank.

WAUKON,

/Citizens State Bank,

................./
C a p ita l S to c k , $30.000.
S u rp lu s, $6,000.
J ....................\ J o h n O tto , P re sid e n t.
I F . M. O n g , V ic e -P r e s id e n t.
v,W. H. C o lto n , C a sh ier.
P ro m p t a tte n tio n p a id to a ll b u s in e s s in tru s te d to us.

Allamakee County

G en era l b a n k in g b u sin e ss tra n sa cte d .
G en era l b a n k in g .

RED OAK,
IIon tg O U R F }

C a p it a l, $ 2 5 .0 0 0 .
\
S u rp lu s, $15,000.
I W . C. H o lt, P r e s id e n t.
I J u lia n R u d d ic k , C a s h ie r.

.s

Dr W illa r d C. E a rle s, P re s id e n t.
M rs. M a rga ret D u ffy , V ic e -P r e s id e n t.
’ l W . E. B e d d o w , C a sh ie r.
I C a rlto n H. E a rle, A s s is ta n t C a s h ie r .

‘ ‘ W e are h u stle rs on c o lle c t io n s .

(Red Oak National Bank.
C a p ita l a n d su rp lu s, $140 000.
^ Q ia rif) P re s id e n t.
C. B in n s, V ic e -P r e s id e n t.
\ P a u l P . C la rk , C a sh ier.
C o lle c tio n s r e c e iv e s p e c ia l a tte n tio n .

County..

G e n e ra l b a n k in g b u sin e ss.

ROCK R AP IDS,

I
.j

1H.

Lyon County Bank.
Mil l e r & T h om pson .

(O. P. M iller, J. K . P . T h o m p s o n .)
C a p ita l, $100,000.
U n d iv id e d p rofits, $30,200.
M. A . C o x , C a sh ier.
VF. B . P a rk e r, A s s is ta n t C a sh ier,
S p e c ia l f a c ilitie s fo r c o ll e c t io n in th e n o rth w e st.

Lyon County,.,


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

T ry us.*’

f Fayette County National Bank.
W EST UNION,

C a p ita l, $80,000.
,
S u rp lu s, $6,600.
S.
B.
Z
e
ig
le
r
,
P
resid
en
t.
Fayette County...
H. B. H o y t, V ic e -P r e s id e n t.
E . B. S h a w , C a sh ier.
O n ly N a tio n a l B a n k in C o u n ty . C o lle c tio n s re ce iv e c a r e fu l a n d p r o m p t
a tte n tio n .
!

WINTERSET',
M a r iie n ti f n n n t v
)
m a a u o n c o u n t y .................f

(First National Bank, ¿l. ,...

C a p ita l, $50,000.
s u r p lu s , $2 0 ,0 0 0 ,
. „ ..¡¿ a * ,: I m w Q
I C. D. B e v in g to n , P re sid e n t.
i
t W . S. W h e d o n , C a s h i e r , ^ „v iS -s a T
G e n e ra l b a n k in g b u s in e s s tra n s a cte d .
.a t , l . ¿a ui i j d

April, 1902

TH E NORTHW ESTERN BANKER.

39

S P E C IA L LIST OF M IN N E S O T A B A N K S . ■
A L P H A B E T I C A L L Y A R R A N G E D BY T O W N S .

Showing Name o f Bank, Town^ and County, Capital^ Surplus a n d Undivided Profits , Names o f Officers a nd
Special Facilities f o r the Transaction o f Business intrusted to their care.
Bank of Glencoe.

GLENCOE,

REDWOOD FALL S,

I

C a p ita l, #50,000.

McLeod County,

A u th o r iz e d C a p ita l, $50,000.
P a id U p C a p it a l, $25,000.
S u rp lu s , #4,000.
A. C. B u rm e iste r, P r e s id e n t.
H . D. B a ld w in , V ic e -P r e s id e n t.
H, A . B a ld w in , C a h ie r.
O. W . M c M illa n , A s s ’ t C a sh ier.
G e n e ra l b a n k in g b u s in e s s t r a n s a c t e d .

Redwood County.

S u rp lu s, $10,000.
G. K. G ilb e r t, P r e s id e n t.
A. J. S n y d er, V ic e -P r e s id e n t,
M ARSH ALL,
/Lyon
Bank.
L . W . GCounty
ilb e rt, C aNational
sh ie r.
I E.CH.
a p ita
C a l,
rso$50.000.
n , A s s is t a n t C a s h ie r.
T . . . ru ,
,
I
S u rp lu s, #5,8C0.
F a rSm
lo aanns, aP rs epseid
c ia
L y o n L O U D i y ......................( M.
u lliv
e nltt.y .

B a n k in g b u sin ess tr a n s a c te d .

/Redwood County Bank.

WASECA,

/Peoples State Bank.
I

C a p ita l, 825,000.
O rg a n iz e d in 1881 as a S tate B a n k .
\ E, C. T r o w b r id g e , P re s id e n t.
I R. P . W a rd , C a sh ie r.
' F . M . B a ile y , A s s is ta n t C a sh ie r,
G e n e ra l b a n k in g b u s in e s s t r a n s a c te d . C o lle c t io n s a s p e c ia lt y .

Waseca County ................ /

I D. D. F o rb e s , V ic e -P r e s id e n t.
/ F. W .S ic k le r , C a sh ie r.
( W . S. L it t le , A s s is t a n t C a sh ie r.
C o lle c tio n s p r o m p t ly a tte n d e d to an d re m itte d o n d a y o f p a y m e n t .

Citizens State Bank.

MONTEVIDEO,

{

C a p ita l, #30,000.

Chippewa County

D e lo
p oasnitssr an
P ro
flts,y#140,000.
We c a n fu r n is h first m o r tg a g e fa rm
u ndn in
g five
e a r s , in te re s t F I V E
p er oen t.

h ein
d v1879.
o r p our s.
a t e d 1890
I o w a an d WE issta
ob
n lis
s in
e s to rsI nwcrite
C. D. G riffith , P r e s id e n t.
M . E. T itu s , C a sh ie r.

R E P R E S E N T A T IV E IO W A L A W Y E R S .
DAVENPORT,

Scott C ou n ty ........................... J
A g e n e ra l la w b u s in e s s .

H ARLAN,

f Heinz & Fisher.

Cullison & Robinson.

Shelby County

R e fe r s F ir s t N a t io n a l B a n k , H a rla n .
L a w in a ll its b r a n c h e s w ith s p e c ia l a t ­
te n tio n to c o m m e r c ia l an d b a n k in g la w

R e fe r e n c e :
I
A n y D aven port ban k.

R e a l e s ta te m o r tg a g e e b o u g h t a n d s o ld .

Cliggitt, Rule & Keeler

MASON CITY,
DES MOINES,

( Chas. L . Powel.

t R e fe r e n c e s :
Polk County, ................... <
D es M oin es N a t io n a l B a n k .
............
I
Guthrie Co. N ational Bank, Panora, la .
(
G eo. M. R e y n o ld s , c a s h ie r C o n tin e n ta l
N a tio n a l B a n k , C h ic a g o ,
S p e c ia l a t t e n t io n g iv e n to c o m m e r c ia l b u s in e s s , an d c o lle c t io n s .

F A IR FIE LD ,

J

( J. F. & W . R . Lacey.

OSKALOOSA,

i Rollin J . W ilson .

Jeffergon County........... J

R e fe r e n c e s b y P e r m is s io n :
F ir s t N a tio n a l B a n k .
C it y N a tio n a l B a n k .
I o w a N a t io n a l B a n k .
S p e c ia l a t t e n t io n to c o m m e r c ia l law .

Cerro Gordo County . .

Mahaska County ..............<

G e n e ra l A tto r n e y .
R e fe r s to a n y b a n k in o o u n ty .

P a r o tic e in a ll c o u r ts .

R e fe r e n c e :
j
O s k a lo o s a N a t io n a l B a n k .
[
M a h a sk a C o u n ty S tate B a n k .
D o a g e n e r a l la w b u s in e s s .

j m a k e a s p e c ia l fe a tu r e o f C o m m e r c ia l an d B a n k in g L a w .

THE BEST
LAWN
SWING
MADE


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

Millions in It.

AQENTS WANTED
Lawn Swings and Settees, H a m m o c k
Chairs, Camp Chairs and Stools,
Ironing Tables, Wash Benches, Etc.

Agents easily make

$5

to S10

M illion s o f Acres of the Finest

ft

Farming and'

Grazing Lands

P er D a y . 1

Will furnish samples at re­
duced prices to those desiring
agency. Exclusive territory
given. Address,

IN WESTERN CANADA
o p e n fo r s e ttle m e n t. Sm all T a x e s , C h ea p F u e l,
G o o d C lim te.* L a n d s sell at * 3 p e r a c r e ,
p a y a b le in ten annual in sta llm en ts.
W h y ren t a
farm w h en you can buy fo r le s s? T h o u s a n d s are
g o in g . F o r full in fo r m a tio n a p p ly to

Clearfield Wooden-Ware Co.,
CLEARFIELD, PA.

A.

G.

C.

S H A W ,

A. P . D . , C a n a d ia n P a cific R a ilw a y ,
S ou th C la rk S tre e t, C H I C A G O .

2 28

THE

40

NORTHW ESTERN

April, 1902.

BANKER.

s . « . H Í . 1 1 J J . I Í . Í Ü Í Í »-M

J tk k ll

STATEMENT OF CONDITION OF THE

State Security Bank
£ xdvlx

lapiìi», Unraa. .

M a rc h 12, 190 2 .

RESOURCES.
L oa n s,
C a sh and in B a n k s,
R e a l E s ta te ,
T o t a l,

LIABILITIES.

$272,030.01

43.050.07
13,237-84 1
$328 287.92 '

C a p ital,
S u rp lu s and P r o fits ,
D e p o s it s ,
T o t a l,

$ 30,000.00
15,507.61
282,780.31
<328,287.92

C B. M I L L S , P r e s id e n t .

A. H . H U L E T T , V ic e -P r e s .
A D E L B E R T T Y M E S O N , J « . , C a s h ie r .
R . G . H U L E T T , A ss ’ t C a s h ie r .
r »■v’ h

THE

\

,

I

First N ational Bank,
O F S IO U X C I T Y , I O W A .
CAPITAL, $ 2 0 0 ,0 0 0 .0 0 . SURPLUS AND PROFITS,
$ 2 1 ,2 6 1 .6 9 . D EPOSITS, $ 1 ,5 8 6 ,0 2 9 .2 6 .

Accounts of Banks received on liberal terms. A large
list of par points in Iowa, Minnesota, Dakota, and
Nebraska. Collections carefully and promptly made.
J A M E S F. T O Y , P r e s id e n t .
A. G H O N I N G E H , V ic e -P re

1

Summer Cottages.
E veryb ody w ou ld lik e a b illia rd room in his sum m er c o t­
tage. Most p eop le have to take it out in lik in g . .L a ck o f
space; cost o f the table; m ore urgent need for other tables—
it is a lu x u ry few can afford, unless they get the

/

Indianapolis Com bination Tabic
Library— Dining— Billiard— Pool
A beau tifu l, m assive p iece o f furnitu re, form in g a practical
din in g or library table, con verted into a b illia rd table b y
sim ply rem ovin g the top.
T he p la y in g qualities o f this
b illiard bed are as good as those o f the best large tables.
A ccurate angles; a bsolutely true b a lls; solid ru bber cu sh­
ions, quick, live and sensitive. The beds are m ade o f superior
V erm ont slate; the billiard cloth fine, sm ooth and rich in
color. I f y o u are a lo v e r o f good, billiards an d p o o l, this
table w ill be th o ro u g h ly satisfactory.
Write now fo r illustrated catalogue and further information.
COMBINATION B ILLIA R D TABLE CO., 351 N. Claypool B ldg., In d ian ap o lis , In d .

s id e n t .

" " A . S G A B S E T S O N , Ca s h i e r .

L
l/alley fiatiopal Bapl^
I. C. BRUBACHER, A s s t . Ca s h ie r .

O F D E S M O IN E S
Condensed Statement of Condition Feb. 25, 1902
------- -------------

«—

REPORT OF THE CONDITION OF THE

S E C O N D N A T IO N A L B A N K
OF

D U B U Q U E . IO W A .

C o m p tr o lle r ’s C a ll.— — »
.

At the Close of

RESOURCES.

Loans and Discounts,
Overdrafts,
Stocks and Bonds,
Premiums,
-Banking-House and.Fixtures,
Other Real Estate and Mortgages
4 owned,
,—
U. S. Bonds,
- - i
Cash and Exchange,
-

1,207,414.26
818.83
35,822.92
7,621.25
43,500.00

$

26, 998-45
263,600.00
^698,794.65

Business, Wednesday, Feb. 2 5 , 19 02.

RESO U RCES.

C ash —
On H a n d ........................................................................$122,234.92
With Other Banks ..................................................
403,469.97
With U. S. Treasurer ................................................
2,500.00$ 528,204.89
In vestm en ts—
697,703.11
Loans . . . . ------ ..'........................
'T .-Bonds and Other Securities................. . . I . . . . . . . . . 247*980.58
.;VV*
Overdrafts......... ............................................................
41.73
Banking House and Real Estate...............
61,690.08 1,007,415.50
Total

.................................................. ...............................

$1,535,620.39

L IA B IL IT IE S .

-,

• Total,.

-

$ 2,284,570.36
L I A B IL IT I E S .

Capital Stotk,
Surplus,
Undivided Profits, Net,
Circulation,
Deposits,
Total,
:"L.
.l

200 ,000.00

$

1 0 0 ,0 0 0 .0 0

25,676.51
190,597.50
1,768,296.35
$

2,284,570.36

R. A. CRAWFORD, President
C. H. DILWORTH, Vice-President.
W. E. BARRETT, Cashier, u

Accounts of Banks, Firms and Individuals solicited, and will
receive careful attention.
.v


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

D e p o s it s —
■
.....
,5
Individuals..........; ..................................................-^..$485,323 35
Banks........... ............................., .................................... 521,700.83
.<
United States......................... .'........ .......................... 100,000.00 $1,107,084.18
C a p it a l —
Paid in----------------------- ---------- . . . __ ____ _________300,000.00
Surplus and Profits..:................................................. 78,536 21
378,536.21
C irculation .................... * .....................................................................
50,000.00
T otal........................................................................................$1,535,620.39
!
A
This bank transacts a commercial business only, and pays no interest
except on balances of other banks.

O F F IC E R S :
J. K.- D e m in s , Pres.

W. H. D a y , yice -P re s.

D IR E C T O R S .

He r r . E sc h en , C asluet,

'V
W m, L. Bra dle y,
J ames M. B u r c h ,
W . H. D a y .
H. B. G l o y b p ,
J. K. D e m in s ,
F. A. R u m p f ,
G eo . W. K ie s e l .