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The Fourth National Bank of the City of New York offers to Depositors Every Facility W hich Their Balances, Business and Responsibility Warrants The Hanover National Bank OF THE CITY OF NEW YORK. Nassau and Pine J A S . T . W O O D W A R D , P re s id e n t J A S . M. D O N A L D , V ic e P re s id e n t E. H A Y W A R D F E R R Y , V ic e P re s. W M . W O O D W A R D , V ic e P re s id e n t H E N R Y R . C A R S E , V ic e P re sid e n t E L M E R E . W H I T T A K E R , C a sh ie r W M . I. L I G H T H I P E , A s s ’t C a sh ie r A L E X . D. C A M B E L L , A s s ’ t C a sh ie r OH A S . H . H A M P T O N , A s s ’ t Cash. J. N IE M A N N , A s s ’ t C ash . W M . D O N A L D , A s s ’ t C ash. Established Capital Surplus Number 4 Des Moines, Iowa, April, 1909 Fourteenth Year 1851. $3,000,000 10, 000,000 U. S. DEPOSITORY Citizens National Bank The National City Bank DES MOINES, IOWA J. G. R O U N D S , P re s id e n t S. A . M E R R I L L , V ic e -P re s id e n t G EO . E . P E A R S A L L , C a sh ie r of Chicago Capital $1,500,000 Surplus $300,000 Capital Surplus Solicits Your Business The Bankers National Bank O F C H IC A G O , I L L . T he Bank of Personal Service U’ E D W A R D S. L A C E Y , P re s id e n t JO H N C. C R A F T , V ic e -P re s id e n t F R A N K P, JU D S O N , C a s h ie r C H A S . C. W I L L S O N , A s s ’t C ash R A L P H C. W IL S O N , A s s ’t C a sh ie r New Business Desired and Unexcelled Facilities Offered https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 100,000 ACCOUNTS SOLICITED. Capital, Surplus and Profits $3,328,957.84 Comparative Statement, Showing Increase in Deposits. Feb. 5,1900 - % 9,884,440.75 Feb. 5,1903 - 13,971,435.23 Feb. 5,1906 - 16,284,921.14 Feb. 5,1909 - 23,299,396.63 $200,000 The M erchants National Bank of Philadelphia F. W. AYER. President WM. A. LAW, Vice-President THOMAS W- ANDREW. Cashier W. P.. BARROWS. Asst, Cashier Capital, Surplus and Profits, $1,850,000 TH E 2 NORTHWESTERN BANKER - C April, 1909. TH E E N T - U R Y SAVINGS BANK DES M OINES, CA PITAL, The Commercial National Bank . . - IOWA . $100,000.00 O F F IC E R S W . G. H A R V IS O N , P re s. L . E . H A R B A C H , V ic e -P re s . D. A . BYERS, Cash. o f C H IC A G O Capital, Surplus and Undivided Profits, $ 7 , 0 0 0 , 0 0 0 Deposits, $ 4 5 , 0 0 0 , 0 0 0 OFFICERS GEORGE E. ROBERTS, PRESIDENT JOSEPH T . TALBERT . . ViC'E-PRES’T NATHANIEL R. LOSCH RALPH VAN VECHTEN, 2 n d VlCE-PRES’ T GEORGE B. SMITH . DAVID VERNON . . 3RD VICE-PRES’ T HARVEY C. VERNON . W .T . BRUCKNER, A S S 'T TO VlCE-PRES'TS H. ERSKINE SMITH . . . CASHIER A S S -T CASHIER Ass*T CASHIER D IR E C T O R S W . G. H a rv iso n , P . C. K e n y o n , Geo. M. C h ristia n , J. B . U h l, J. W . R a d e b e ck , J. B . S u lliv a n , L . E . H arb ach , H . H . T ea ch o u t, W . G. B u rn side A S S ’T CASHIER This bank is pleased to place at the disposal of its customers the facilities ¿ained during forty-five years of continu ous service and growth T o H olders of Minneapolis & St. Louis Railway Co. First Mortgage 7 per Gent Bonds Maturing June 1 (IO W A E X T E N S IO N ) Having purchased the First and Re funding Mortgage Fifty-Year 4 per cent Bonds issued by the Minneapolis & St. Louis Railroad Company to retire the above bonds, we offer the privilege of an immediate exchange on the basis of 86J4 and accrued interest for the First and Refunding Mortgages 4s and 100 and in terest to maturity, less discount at the rate of 2 per cent per annum, for the maturing 7 per cent bonds. The right is reserved to change the terms of this offer or to withdraw it without notice. Circular descriptive of the First and Refunding 4s may be had on application. F isk & R o b in so n Accounts of Banks and Bankers Solicited. erior Facilities for Collections. Interest Paid on Time Deposits. Sup Great Western Accident Association DES MOINES, - IOWA ASSETS January 1, 1902 $ 7 ,7 8 1 .9 1 January 1, 1903 $ 5 2 ,3 4 8 .7 3 January 1, 1904 $131,123.92 January 1, 1905 $166,488.32 January 1, 1906 $232,770.28 January 1, 1907 $ 2 9 9 ,898.09 January 1, 1908 $ 3 5 9 ,7 0 0 .3 5 $ 415 ,023.21 January 1, 1909 For literatu re or oth er inform ation, address CHICAGO NEW YORK BOSTON 115 Adams St. 35 Cedar St. 28 S tate St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H. B. HAWLEY, Great W estern Building. President, D es »Moines, Iowa. THE April, 1909. NORTHWESTERN BANKER 3 NEW BANK EXAMINER Mr. Large has just been appointed bank examiner for Iowa, making the third in the state the comptroller haying decided that Iowa should have three examiners instead of two as formerly. Your Account Will be handled in the most careful and intelligent manner. Collection facilities excellent. TH E NATIONAL CITY BANK J O H N J. L A R G E . Rock Valley Mr. Large was formerly president of the Iowa Bankers Ass’cn, and is cashier of the First National Bank of Rock Valley. He is a first class banker and will perform the duties of examiner with credit to himself and satisfaction to all concerned. B E T T E N D O R F’S NEW BAN K M AKES A GOOD START. Those interested in the success of the new Betten dorf Savings Bank at Bettendorf, Iowa, have reason to be pleased at the splendid send-off given the bank. Up to 2 o’clbck p. m. on the day of opening the de posits reached $11,455. The bank began business March 1st with a capital stock of $25,000. The full list of officers is as follows: President-—P. W. Reck. Vice-president— F. C. Siebengartner. Cashier— Johii E. Brownlee. Assistant Cashier— Ed Dougherty. Attorney— A. W. Hamann. Directors— P. W. Reck, F. C. Siebengartner, C. H. Schroder, Ed Dougherty, John C. Kohle, W. O. Cal vert, J. W. Walsh, Walter McMann, Oscar Kobs. The president of the new bank, Mr. Reck, is a cousin of W. P. Bettendorf, the founder of the great Betten dorf works, which have done so much toward the development of this city, and he and his brother, J. W., are leaders in the present bank organization, and the new bank is named in their honor. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OF CHICAGO OFFICERS D A V ID R. F O R G A N . Pres. L . H. G RIM M E, Cashier A L F R E D L. B A K E R , Vice-Pres. F. A . C R A N D A L L , Asst. Cash. H. E. O T T E , Vice-Pres. W . D. D IC K E Y , Asst. Cash. R. U. L A N S IN G , Manager Bond Department Capital $ 1 ,5 0 0 ,0 0 0 Surplus $ 3 0 0 ,0 0 0 TH E 4 NORTHWESTERN Home Recommendations Count W ithin the past five years the follow ing Omaha, South Om aha and Council Bluffs hanks h ave purchased safe w ork from us: U. S. N ational Bank, ten Safes. F irst N ational Bank, Steel V au lt and Safety Deposit Boxes. City Savings B an k, Manganese Steel V au lt and Safety Deposit Boxes. H ayd en Bros. Bank, four B a n k Safes. J. L. Brandeis & Sons Bank, tw o B a n k Safes. Conservative Savings and Loan Assn., one B a n k Safe. Packers’ National Bank, tw o B a n k Safes. Union Stock Y ard s National B an k, tw o B a n k Safes. L iv e Stock National Bank, one B a n k Safe. F irst N ational B an k, one Vault. C ity N ational Bank, one B a n k Safe, V au lt Doors and Safety Deposit Boxes. Com m ercial N ational B an k one B a n k Safe. Over 1,500 other hanks in Nebraska, Iow a and South D akota have bought their safes from us. No.other Safe Com pany in the world can show such a hom e record. G ood B ankers D ea l W ith G o o d P eo p le. J. J. Deright Co. Omaha, N eb Dubuque, Iowa Second National j* Dubuque and Bank * Savings Bank Combined Statem ent N O V . 2 7 , 1908 Cash ................................................................................... 1i n v e s t m e n t s .................................. .. .................... D e p o s i t s .............................................................. C ap ita l ................................................ C o m b in e d To ta l $ . . 7 4 3 ,2 1 2 .7 1 1 ,8 5 1 ,1 0 3 .1 7 1 ,7 3 5 ,0 0 8 .9 7 5 6 2 ,0 0 6 .9 1 BANKER April, 1909. M ERCHANTS’ N A TIO N A L OF BURLINGTON, IOW A, HAS NARROW ESCAPE FROM FIRE. The Merchants’ National had a close call last month and narrowly escaped destruction by fire. The fire started in a big pile of cancelled bank drafts, stored on the third floor by the bank. The flames burned a hole in the floor and also mounted to the roof along the studding, burning the roof. Flaming papers fell through the hole in the floor into the offices of the Bradstreet company beneath. A number of persons hearing of the fire, telephoned to the bank to discover if their valuables in the safety deposit vault had been damaged. The bank assured the customers that no water or fire had penetrated the vault, which is protected by two inches of steel armor plate, concrete walls several feet thick and two air chambers. The probable origin of the fire was disclosed while the firemen were still fighting the blaze. A small mouse, which- was ablaze, ran out from beneath a big pile of the burning paper. A fireman mercifully ended the suffering of the rodent. It is believed that the mouse found a match, with the inevitable result in a case of this kind, that the mouse tackled the sulphur ous stick, and started the blaze that caused its death. BENTON CO U NTY, IOW A, BANKS M AKE FINE SHOWING. The Vinton Savings Bank sends out a large postal ~ard showing the condition of the Benton counts banks at call of February 20th. This shows $4,654,373 on deposit at that time, a fairly good indication that there is nothing the matter with Benton county. The various banks, with their location and deposits, are given below: Atkins Savings Bank, Atkins...................$ 232,341.66 Benton County State Bank, Blairstown. . 305,604.67 Benton County Savings Bank, Norway. . 141,901.61 272,670.34 Citizens’ National Bank, Belle Plaine__ Corn Belt Savings Bank, Belle Plaine. . . . 128,981.05 Farmers’ National Bank, Vinton............. 259,181.56 Farmers’ Savings Bank, Garrison............. 181,704.15 Farmers’ Savings Bank, Keystone........... 220,635.31 Farmers’ Savings Bank, Van Horne........ 273,438-77 Farmers’ Savings Bank, Walford............. 73,426.67 First National Bank, Belle Plaine........... 380,691.78 First National Bank, Norway........... . . . . 188,003.70 238,331.54 German State Bank, Keystone........... . Mt. Auburn Savings Bank, Mt. Auburn.. 101*971.45 Newhall Savings Bank, Newhall............. 231,323.30 People’s Savings Bank, Vinton........... . . . 377*543.43 People’s Savings Bank, Shellsburg......... 169437.15 State Bank, Vinton .................................. 224,774 46 Urbana Savings Bank, Urbana............. .. 86^854.53 Vinton Savings Bank, V in to n ................. 388474.52 Watkins Savings Bank, Watkins............. 92*529.16 Van Horne Savings Bank, Van H orne... . 54*140.85 Luzerne Savings Bank, Luzerne............... 30411.80 .................................. .$ 2 ,5 9 4 ,3 1 5 .8 8 $45654,37346 D IR E C T O R S W. II. Day Geo. W. Klesel H. B. Glover James M< Burch J. K. Deming Chas. H. Bradley Frank Bell https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Chas. Hathaway & Company COMMERCIAL PAPER Correspondence Invited. 205 LA SALLE ST.. CHICAGO 1 TH E NORTHWESTERN BANKER llvrt April, 1909. LO TS OF M ONEY IN IOW A. As per statements recently received at this office from subscribers to the Northwestern Banker the fol lowing banks show deposits as indicated at last call : Alburnett Savings Bank, Alburnett.............. $109,364.76 Maple Valley Savings Bank, Battle Creek.. 244,584.42 Bank of Buckingham, Buckingham........... 65,707.20 Chelsea State Bank, Chelsea......................... 173,149.97 Cherokee State Bank, Cherokee....................514,786.96 First National Bank, Churdan..................... 233,682.35 Manning & Epperson State Bank, Eddyville .................. 320,362.48 Franklin County State Bank, Hampton.. . . 495,014.78 Iowa State Savings Bank, L yon s................. 330,337.14 Mitchell Savings Bank, Mitchell................. 65,599.61 Worth County State Bank, Northwood. . . 321,743.37 German Savings Bank, Odebolt................... 115,421.93 Traer State Bank, Traer.............................. 250,213.21 Farmers’ Bank of Voorhies, V o o rh ie s..... 41,085.40 State Bank of Waverly, Waverly. ............ 603,143.91 State Bank of Williams, Williams............. 191,864.43 D EPO SITS OF N EBRASKA BANKS. Prosperity is abounding in Nebraska as is indicated by the handsome line of deposits carried by the follow ing banks as per statements recently issued: Citizens’ Bank of Ainsworth, Ainsworth. ......$ 64,392 German-American Bank of Auburn, Auburn. 79,500 Nemaha County Bank of Auburn, Auburn. . . . 243,826 First State Bank of Beaver City, Beaver City. 299,188 Custer National Bank, Broken Bow................. 214,810 Citizens’ State Bank, Chadron......................... 258,904 Clay Center State Bank, Clay Center......... 104,389 Commercial State Bank of Clay Center.. . . . . 185,518 State Bank of Crete, Cre.te................................ 39F 737 Bank of Crab Orchard, Crab Orchard............. 88,910 Bank of Doniphan, Doniphan ......................... 177,626 Clay County Bank of Edgar, Edgar................. 172,626 Wallace & Co. Bankers, Exeter........................ 259,588 First National Bank, Fairbury. . , . . . ............. 205,692 Farmers’ State Bank of Fairmont, Fairmont.. 233,442 Citizens’ State Bank, Geneva.......................... 196,944 Grand Island Banking Co., Grand Island........ 654,482 First National Bank, Hartington..................... 238,275 Farmers & Mechanics’ Bank of Havelock, Havelock ................................ . . .................... 125,519 Thayer County Bank, H ebron............... ......... 302,342 City National Bank, H oldrege........................ 254,024 Farmers’ State Bank, Loomis.......................... 61,118 First National Bank, L o om is............................ 218,871 Madison State Bank, Madison............... . 264,407 Minden Exchange Bank, Minden...................... 255,981 Ord State Bank, Ord, Neb................................ 108,395 First State Bank of St. Paul, St. Paul............. 166,901 Sutton National Bank, Sutton.......................... 283,509 Bank of Syracuse, Syracuse.............................. 117,441 Citizens’ State Bank of University Place........ 63,266 Oak Creek Valley Bank of Valparaiso............. 134,039 Farmers & Merchants’ State Bank, Bloomfield 238,240 Ewing State Bank, E w in g ................................ 134,567 Banking House of F. Folda, Schuyler............. 387,852 Wanted— To buy controlling interest in a $2^,000 Iowa bank. Address B. H. F., care Northwestern Banker. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cannon Breech Manganese BANK SAFES M r . Ba n k er : Your attention is invited to the following points in relation to these safes which explain why they have never been opened by burglars since first introduced over fifteen years ago. M ADE FROM T H E B E S T Q U A L I T Y OF M A N G A N E S E S T E E L — A M E T A L AB S O L U T E L Y D R IL L A N D E X P L O S IV E PROOF. DOOR GR OUN D IN T O IT S S E A T L I K E A V A L V E , G U A R A N T E E I N G A F I T IM P ER V IO U S T O T H E IN T R O D U C T IO N OF DRY OR L IQ U ID E XP LO SIVES. L O C K IN G D E V IC E S C O N S IS T OF A TR IP LE TIM E AND A U TO M A TIC, P LA C E D ON T H E INSIDE O F T H E DOOR A N D T H E I R O P E R A T IO N B E ING A U T O M A T I C W I T H NO H O L E S T H R O U G H T H E DOOR FOR S P IN D L E S OR O U T S ID E C O N N E C T IO N W H A T E V ER. S A F E W H E N C LO S E D A N D L O C K E D IS V I R T U A L L Y A SOLID B L O C K OF D R IL L PROOF AN D E X P L O S IV E PROOF M A T E R I A L W I T H O N L Y O NE J O I N T IN T H E E N T I R E O U T S ID E SUR F ACE, BEIN G T H E J O I N T A R O U N D T H E DOOR W H IC H IS G U A R A N T E E D LIQ U ID T I G H T . That the wonderful merit of these safes is recognized by the insurance companies is evi denced by the fact that they take the lowest rate of burglary insurance quoted. These safes are made solely by The National Safe & Tock Company, of Cleveland, Ohio, whose line embraces every variety of burglar and fire proof safes, vault door linings, deposit boxes and allied products. Correspondence Solicited b y The National Sale and Loek Co. W . H M O R R IS O N , Mgr. F lem in g B ldg. D e s M oin es, Io w a TH E 6 NORTHWESTERN April, 1909. BANKER r THE CORN EXCHANGE NATIONAL BAN K ¿»/CHICAGO CAPITAL :: : $3,000,000 SURPLUS :: : 3,000,000 UNDIVIDED PROFITS 1,991,216 DEPOSITS :: : $58,000,000 OFFICERS ERNEST A. HAMILL, President CHARLES L. HUTCHINSON, Vice-Pres. CHAUNCEY J . BLAIR, Vice-Pres. D. A. MOULTON, Vice-Pres. JOHN C. NEELY, Secretary FRANK W. SMITH, Cashier B. C. SAMMONS, Ass’t Cashier J. EDWARD MAASS, Ass’t Cashier JAMES G. WAKEFIELD, Ass’t Cashier DIRECTORS Charles H. Wacker Martin A. Ryerson Chauncey J. Blair Edward B. Butler Charles H. Hulburd Clarence Buckingham Benjamin Carpenter Isaac G. Lombard Watson F. B lair Edwin G. Foreman Charles L. Hutchinson Edward A. Shedd Frederick W. Crosby Ernest A. Hamill FOREIGN EXCHANGE. LETTERS OF CREDIT. CABLE TRANSFERS The First National Bank of Chicago Jam es B. F organ, President •y H I S BANK, with a depart ment especially organized to take care of Bank A c counts, invites the business of Northwestern Banks and Bankers with the assurance of sa tisfa cto ry serv ice and agreeable relationship. Division F. (Banks and Bankers) August Blum Herbert W. Brough Vice President Assistant Manager Our facilities for handling the accounts of Northwestern Bankers are unexcelled. LITHOGRAPHING E S TA B L IS H E D 1 8 5 6 Iowa Lithographing Co., ; l Des Moines, la. Bank and Commercial Stationery a Specialty. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis No Trouble to Quote Prices. T H E OLDEST B A N K IN T H E U N IT E D STATES (CHARTERED BY CONTINENTAL CONGRESS, 1781) THE BANK O F N ORTH A M E R IC A NATIONAL BANK PHILADELPHIA, PENNSYLVANIA C A P I T A L ................................... $1,000,000.00 S U R P L U S ................................... 2 ,250,000.00 UNDIVIDED PROFITS, OVER 231,000 00 $ 15,000,000.00 DEPOSITS FEB., 1909 - President Cashier Assistant Cashier Assistant Cashier - - H. G. MICHENER - JOHN H. W ATT - SAML. D. JORDAN - WM. J. MURPHY SOLICITS T H E ACCOUNTS OF BANKS, FIRMS, INDIVIDUALS A ND CORPORATIONS The Northwestern Banker $2.00 P er A nnum DES MOINES, IOWA, APRIL, 1909 20 efts. P er C opy “ S a v in g B y S y ste m ” E d i t o r ’ s N o t e — In th e J a n u a r y is s u e w e p u b lish e d an a r tic le e n title d “ S a v in g b y a P la n ” fro m th e S a tu r d a y E v e n in g P o s t, w h ic h h a d been e ffe c tiv e ly u sed b y th e E m p ire C ity S a v in g s B a n k in c o n d u c tin g a c a m p a ig n fo r s a v in g s a c c o u n ts . W e sta te d th e n th a t tw o o th e r a r t i c l e s ‘ ‘S a v in g b y S y s te m ,” a n d " P it f a lls fo r In v e s to rs ’ ,, p u b lis h e d in s a m e J o u rn a l co u ld b e u sed a s e d u c a tio n a l m a tte r in sa m e m a n n er. W e p u b lish th e first a r tic le n am ed th is m o n th , a n d w ill p u b lis h “ P it fa lls fo r I n v e s to rs ” in o u r n e x t is s u e . T h e se a r tic le s ca n b e p rin te d in fo rm o f fo ld e r w ith ad o f b a n k on b a c k an d m a ile d to p re se n t a n d p ro s p e c tiv e cu sto m e rs. U sed in th is m a n n er th e y w ill be fo u n d m o st e ffe c tiv e . Benjamin Franklin once said: “Money makes money and the money that makes money, makes more money.” This is the simple key to all wealth. There fore, to get money and make it increase and multiply for you is the almost universal desire. Most people do not stop to realize that to make money, you must make what money you have work for you. The wealth hoarded by a miser is inert power. It is like owning a piece of real estate. The property will not actually earn anything for the owner unless he plants some thing in it, or builds something on it. Then it be comes productive. So with money. Investment simply means putting money out to work so that it will earn more money. Speculation is often mistaken for investment. There is a big and sometimes costly difference. Speculation is buying something, or part of something, in which the element of chance figures. It may be profitable or it may not. Take a share of stock or a city lot. If it is bought for speculation the buyer expects the principal to increase in value. Investment, on the other hand, consists ol buying something to secure a steady and assured in come. It may be a bond or it may be a mortgage. All investment begins with the savings bank, which is the first bulwark of the people’s money. The first step toward accumulating money is to save a little, and the best way to save a little is to put a small amount in a savings bank. It is astonishing to see to what extent a small sum of money will grow. The smallest amount is worth saving. Do not hesitate tc begin with pennies. They do not know flow to take care of themselves and the dollars do. “ But how can I save?” is the question that people who work for small salaries are asking everywhere. There is a way and it lies through system. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Simply apply the same intelligent effort to your money that you expend on your time, energy or the material with which you work. Practically everybody who works or earns money in some way can put aside five cents a day. This seems to be a very insignificant sum. It is a single car fare or the price of a glass of soda water. Yet let us see what it can do. Five cents put aside every day will amount to $182.50 in ten years. Placed in a savings bank that pays 4 per cent interest it will earn $40.06. Thus the total sum represented at the end of ten years by the simple saving of five cents a day is $222.56. Take ten cents a day and by the same process of saving and investing, it will amount to $445.56 in ten years; while twenty-five cents a day will become the sum of $1,113.75. II y°u put a dollar in a savings bank every week for twenty years it will mean $1,612 at the end of that time. The only way to save successfully is to keep con stantly at it. It is a good thing to remember that you can start a savings bank account with one dollar and that no amount is too small to be deposited. It is not a good plan to keep your savings around the house. There is always the danger of fire and burglars. Be sides, if they are kept in a stocking or in a tin bank they will not be earning.any more money for you. You can very easily get the saving habit. When you get your pay envelope, or your allowance or your income, ask yourself the question: “How much of this can I save?” If you ask it often enough you will find that it will become a sort of instinct npt difficult to heed. Start some little system that is regulated by your business or your habits; For example, put aside a quarter every time you are late at work. If you live in the country assess yourself fifty cents every time TH E 8 NORTHWESTERN Capital $ YO U R ACCOUNT Surplus and Profits $ 4 0 0 ,0 0 0 - - NELSON N. LAMPERT, - - President V ice-President HENRY R. K E N T ,............................ Cashier CHARLES FERNALD, - - A sst. Cashier COLIN S. CAMPBELL, - - A sst. Cashier Clark and Monroe Streets C H IC A G O you miss your regular train. If you are a man who smokes and for economy take to a pipe, save the price of the cigars that you would have bought. If you smoked three five-cent cigars a day you would be sav ing fifteen cents. This sum put into a savings bank regularly would amount to $668.18 in ten years. If you smoked three ten-cent cigars, and thus saved thirty cents a day you would have $1,336.59 to your credit at the end of ten years. This is enough to buy a small cottage. The results of systematic saving are many and farreaching. The ambitious boy may secure an educa tion in this way. Suppose that the boy starts to work when he is ten years old, and that he can put away $40 the first summer, working up to October 1st, when he should put the money into a savings bank. Each succeeding year on October 1st he should put awav $50. If he started this account on October 1st of any given year, his savings, at 4 per cent, compound inter est, would represent the sum of $511.53 on October 1st, eight years later, the principal being $440 and the interest $71.53. This is enough to pay for the first year in one of the average colleges. With scholar ships and work during vacations, he can easily make his way the remaining three years. Thrifty parents may, by saving, not only provide an education for their children, but start their sons in business or equip their daughters when they marry. Assuming that they are able to buy a thousand-dollar bond when the first child is born, the interest on this bond, put regularly into a savings bank, will provide a neat sum when the child becomes of age. Take a thousand-dollar bond paying 5 per cent. The interest each year would be $50. Granting that the interest is payable January and July, there could be deposited the sum of $25 every six months. At 4 per cent this interest alone would amount to $1,299.47 by the time the child, for whom the bond is bought, is eighteen years old. In other words, there would have been deposited $900 in interest, and the interest on these various deposits would be $399.47. This would more than pay for half the college education, and the principal of the bond (for the bond could easily be sold) would pay for the rest. If, on the other hand, the parent desires that the boy should go into business when he leaves the high school, the bond can be sold, and, with the interest that has https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis April, 1909. S O L IC IT S 1, 0 0 0 , 0 0 0 ' WM. A. TILDEN, BANKER We particularly appreciate the accounts of Banks and have unusual facilities for *handling such business. piled up in a savings bank, give the young man a start in some commercial enterprise. A merchant in a large southern city hit upon a good plan to provide a fund for his children when they should reach the age of twenty-one years. When each child was born he deposited a dollar in the savings bank in its name. The next year he deposited two dol lars. He kept this up each year for each child, depos iting the number of dollars that the birthday repre sented in years. When each child became of age there was $306.16 to its credit in the savings bank. The put ting aside of this money was scarcely felt by the par ent. It came in small amounts and at intervals. It had a good effect on the children, especially on the boys, who realized that they had a bank account, and it made them see the value and importance of saving money. Thus, the importance of saving, as the first start on the road to fortune, is obvious. It is not what you earn, but what you save, that makes you rich. The First National Bank of Chicago Increases Dividend Rate to 16 per cent Dividends of the First Trust and Savings Bank of Chicago have declared an initial quarterly dividend of 4 per cent on its $2,000,000 of capital stock. Under the trust agreement by which the stock of the First Trust and Savings Bank is held for the stockholders of The First National. Bank of Chicago this dividend was mailed out March 31 to the stockholders of the latter institution. The 4 per cent on the $2,000,000 of First Trust stock is equivalent to 1 per cent on the $8,000,000 of the stock of the national bank. That amount will be added to the regular quarterly dividend of 3 per cent on the national bank’s stock, making the total disburse ment 4 per cent for the quarter, to the holders of First National shares. With the payment of this dividend The First National passes the $22,000,000.00 mark in the amount of profits disbursed to its stockholders since its organiza tion in 1863. In addition, it has surplus and undivided profits in excess of $12,000,000, which includes the capital and surplus of the First Trust, owned by the stockholders of The First National Bank. The deposits of the two institutions exceed $150^,000,000.00 WANTED—A position as bookkeeper in a bank by a single man, aged 21, who has had three months’ experience and is anxious to learn the business. Address J. W. Lister, Grundy Center, Iowa. April, 1909. TH E NORTHWESTERN BANKER 9 P ro m in e n t B a n k e rs o f I o w a Men who are making an impress upon the banking interests of the Hawkeye State One of the real live wires in the northeastern section of Iowa is Mr. O. H. Leonard, who for a number of years has been the cashier of the Citizens’ Savings Bank, of Cedar Falls. We are very glad to intro duce Mr. Leonard to the readers of the Northwestern Banker, and although he is far more modest than he ought to be considering his attainments, we finally induced him to let us have a photograph of himself in order that our readers may recognize him the next time they meet him at the conventions or in some place THÈ CONTINENTAL C apital, Surp lu s and P ro fits N A T IO N A L ■" B A N K $7,600,00« D ep o sits fl;-.'- OF CHICAGO O FFIC E R S GEO. M. REYNOLDS, Pres. B. S. MAYER, Asst. Cashier ALEX ROBERTSON, V. Pres. F. H. ELMORE, Asst. Cashier WM. G. SCHROEDER, Cashier WILBER HATTERY, Asst. Cashier HERMAN WALDECK, Asst. Cashier J. R. WASHBURN. Asst. Cashier B O A R D O F D IR E C TO R S JOHN C. BLACK. Chairman of the Board J. OGDEN ARMOUR. EDWARD HINES, President, Armour & Co. President, Edward Hines Lumber Co. ALBERT J. EARLING, Pres. Chicago, Milwaukee & FRANK HIBBARD, St. P. R. R. Hibbard,Spencer, Bartlett & Co., Wholesale Hardw. HENRY BOTSFORD, F.E. WEYERHAEUSER, Packer. Lumberman and Pine Land Owner,St.Paul,Minn B. A. ECKHART, President, Eckhart & SAM’L McROBERTS, Swan Milling Co. Treasurer, Armour WM. C. SEIPP, & Co. ALEX- ROBERTSON, Capitalist. Vice-President. GEO. M. REYNOLDS, President. Accounts of Banks and Bankers Solicited. O. H . LEONARD Cashier Citizens Savings Bank, Cedar Falls, Iowa where good bankers go. Mr. Leonard began his bank ing career in 1883 at Brooklyn. He was associated with the Poweshiek County Bank as assistant cashier. At the end of three years he was advanced to the posi tion of cashier and for thirteen years successfully managed the affairs of the bank. Five years of the time he was vice-president of the Malcom Bank, at Malcom, Iowa. In 1887 he severed his connection at Brooklyn and Malcom and went to Pipestone, Minn., to become president of the Farmers & Merchants’ Bank; remained there a year, then moved to Cedar Falls and became identified with the Citizens’ Savings at that place as cashier. The business of this bank has continued to grow steadily until today they have one of the largest savings banks in northeastern Iowa and the largest one in Black Hawk county. The deposits are well past the half million mark, with total assets over $700,000. It can be said in all sincerity that a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Capital, Surplus and Profits, $ 6 6 5 ,0 0 0 Deposits, $ 8 ,3 0 0 ,0 0 0 O F F IC E R S C H A S B. P I K E , P res. H . M E Y E R , C a s h ie r W . T . P E R K I N S , V ic e P res. W m . N . J A R N A G I N A ss t. C a sh . D IR E C T O R S W . C. B ro w n , F . A . D e la n o , L o u is E . L a f lin , E d m u n d A . R u sse ll, F r a n k C u n eo , C h a rle s L . B a rtle tt, T. A. Shaw , C. J. E ld re d ge , A lb e rt P ic k , H e n ry M e y e r, C h a rle s B. P ik e , P re s id e n t N e w Y o r k C e n tr a l L in e s P re sid e n t) W a b a sh R a ilr o a d C o m p a n y M a n a g e r, E s t a t e o f M a th e w L a flin T re a s u re r, O tis E le v a to r C o. o f G a r ib a ld i & C u n e o P r e s id e n t O ra n g e in e C h e m ic a l Co. o f T . A . S h a w & Co. o f M e rr ill & E ld re d g e o f A lb e r t P ic k & C o. C a sh ie r P re sid e n t THE IO NORTHWESTERN BANKER April, 1909. TBE UVE STOCK EXCHANGE NATIONAL BANK of CHICAGO Volume of Business for Year 1908 Exceeded One Billion, Tw o Hundred Million Dollars large part of this success has been due to Mr. Leon ard’s untiring efforts in the interests of the bank. He is not only a first-class banker, but is a genial, wholesouled gentleman and these characteristics make for success. Mr. Leonard has been officially connected with Group 7, I. B. A., for some time and has been a prom inent factor in advancing the interests of this impor tant group. OMAHA CLEARIN GS FOR FIRST W E E K IN MARCH BRO K E RECORD. The News says: “ Local bank clearings this week are the largest in the history of Omaha. They amount to $18,832,430.19. Last week they were $12,247,018.48, and a year ago $15,039,210.23. “The increase over the same month last year is 26.8 per cent. The record for one day in Omaha was made last Wednesday, when the clearings were $3,429,,53341. “The large clearings this week are due to the fact that so many real estate loans are being exchanged the first few days of March. It is said that a great many farm loans were paid at that time. Omaha stands thirteenth in the list of cities of the country in amount of clearings” W IN N ESH IEK CO U N TY ST A T E BANK. Another Important Step in its Career as a Bank of High Character and Prominence. “ One of the most important financial announce ments the Republican has been privileged to make is that the Winneshiek County State Bank, established in 1855, and existing down through the varying changes that time has forced upon it, will increase its capital from $100,000 to $150,000. With the present surplus of $25,000, this increase will give the bank a working capital of $175,000 and as under the law all stockholders in state banks are liable for an additional 100 per cent of the stock, this arrangement will make the stockholders of the Winneshiek County State Bank liable for $325,000, thus making it the largest financial institution between the Twin Cities of Min nesota and Cedar Rapids, and between Milwaukee and Sioux City, barring one banking house in Mason City. To establish more firnlly if possible the confi dence of the public in this bank, the increase of capital will be invested in United States bonds. “ Ever since the incorporation of this bank, its policy has been to take the people into its confidence and by https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis open, frank and honest dealing merit the faith that has ever been exhibited towards its management. This announcement, at this time, is a step in the same direc tion and it certainly puts Decorah high up in the list as a banking center.” The above article recently appeared in the Decorah Republican and gives a good idea of the great strides being made by the Winneshiek County State Bank. With aggressive, yet careful management, it is rap idly taking its place in the front rank of the successful financial institutions of the state. A SCHOOL SAVINGS BANK. Prof. G. W j Remsburg has established a high school bank, probably the only one in Iowa, in the little town of Stratford. The purpose of starting this bank is to teach the school children of the town to begin early in life to save money. The idea is one peculiar to Profes sor Remsburg alone and his bank is bound to attract much attention over the country. Accounts may be started with a penny and as an inducement to the chil dren to save, the professor promises to add to each child’s account which is over fifty cents at the close of the school year. The parents of the children are urged to encourage the pupils to save their small change, yet they are asked not to give them-money. The idea which Pro fessor Remsburg hopes to carry out is that each child who puts anything in the high school bank shall have earned the money himself. The plan at the close of the school year is to deposit the money in the high school bank in the town’s one bank, thus giving to school children an actual account in a real business banking institution. A BAN K F A ILU R E AN E X PE N SIV E LU X U R Y. The report of R. W. Ady as receiver of the Sheldon State Bank covering his business for the past four years has been filed with the clerk. After allowing ex penses he expects to be able to pay an additional divi dend of 30 per cent to depositors, making a total of 73 per cent that the depositors will receive. The total receipts by the receiver are as follows: From stock holders, $7,733 j from sale of bank building, $5,000; sale of Minnesota land, $2,500; other sources, $117,558, making a total receipt of $129,791. The receiver has been paid $6,600 which is at the rate of $100 per month for all except the first fourteen months, for which time the court allowed him $1,100 extra compensation. In his report the receiver asks for additional compensa- TH E April, 1909. NORTHWESTERN tion so as to aggregate $9,400. W. D. Boies, attorney for the receiver has received $11,129, besides some ex pense money and besides $350 allowed for a fee in securing appointment of the receiver. He asks $3,870 additional which will make his total $i 5>35°- John F. McGee, an attorney employed in Circuit Court of Ap peals to contest the Worth bankruptcy proceedings, has been paid $500 and $200 additional expense has been made in this bankruptcy matter. The total cash expended by the receiver for items other than divi dends is $28,500 and if the additional compensation is allowed the receiver and his attorney as asked the ex penses for settling the business will aggregate about $34,000; the depositors receive a, little over $95,000. D IRECTORS OF T H E D EFU N CT CORNING ST A T E BAN K ARE SUED. The directors of the defunct Corning State Bank, better known as the Frank L. LaRue bank, have been served with a notice that a number of the depositors have filed a suit of intervention alleging that the direc tors were negligent and failed to do their duty as officers of the bank. The bank closed its doors just five years ago and the notices were served the last day before the expiration of the five years on the only resi dent directors, F. C. Reese and A. B. Turner, Sr., the’ other three directors named, E. A. Scholz, W. P. Shinn and W. H. Clark having left the state. About two years ago the United States Fidelity and Guaranty Company filed a similar suit, they having been surety on the bond of I. T. Homan, county treas urer of Adams county at the time of the- failure and who had about $5,000 on deposit. The new suits are intervention suits and the amount aggregates about $8,000, on which there has been paid dividends to the extent of 60 per cent and there will be a dividend of about 8 per cent more to be paid, and these suits are to recover by these depositors of the loss they sustained, and claim the loss was sustained by reason of the negligence of the directors. Mr. Reese lost heavily by being on the bond for the de faulting president and wrecker of the bank, LaRue, who was the treasurer of the Corning school board. Mr. Reese is president of the Corning Opera House Company and has other interests. Mr. Turner is the millionaire merchant and father of ex-Senator D. W. Turner. The bank failed for about $250,000, two of the larg est creditors being the Iowa National of Des Moines and the Des Moines National of Des Moines. In the settlement of the claims the depositors were declared and the decision sustained by the supreme court, mak ing the depositors preferred creditors, thus placing the bank claims and all general creditor claims in a class that will receive about 10 per cent dividend. The re sult of the suit will be watched with interest, as it will decide the responsibility of directors of a bank. il BANKER The Farmers’ and Mechanics' National Bank qf Philadelphia, Pennsylvania 427 Chestnut Street CAPITAL. . . . . SURPLUS AND PROFITS. D EPOSITS. - - $2,000.000.00 . - - . 1.325.000.00 14.637.939.00 Organized January 17, 1807 DIVIDENDS PAID, - - . $12.777.000.00 UNITED S T A T E S , S T A T E arid C IT Y D E P O S IT O R Y OFFI CERS HOW ARD W . L E W IS . President H EN RY B. B A R T O W , Cashier JOHN M A SO N . Transfer A fe n t O S C A R A . W E IS S , Assistant Cashier Accounts oi Banks and Bankers Solicited. ESTABLISHED 1879 STA TE BANK C fCHICAGO S . E. Cor. La Salle and Washington Sts. CHICAGO Capital Surplus,—all earned Deposits - $ 1,000,000 1,400,000 19,000,000 OFFICERS H .'A. HAUGAN, President L . A . G O D D ARD , V ice-President JOHN R. LIN DGREN, Vice-President H EN RY S . H E N SCH E N , Cashier Capital $ 1 0 0 ,0 0 0 Surplus $50,0 0 0 I B 1 MERCHANTS NATIONAL BANK twi jip i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F R A N K I. P A C K A R D , Ass’t. Cashier H EN RY A . HAUGAN , Ass’t. Cashier S A M U E L E . K N E C H T , S e cre ta ry W IL L IA M C . M IL L E R , Ass’t. S e cre ta ry SIOUX CITY, IOWA O F F IC E R S E . W . R I C E . P r e s id e n t G E O . P D A Y . C a s h ie r E . B . S P A L D I N G . V ic e - P r e s id e n t G . N . S W A N , A s s t . C a s h ie r Your Business is R esp ectfu lly * I n v ite d * THE 12 / TH E Baker-Vawter 1 1 SYSTEM FOR LOAN S i AND D IS C O U N T S ' 1 NORTHWESTERN BANKER O N E W R IT IN G April, 1909. \ FOR i FULL PAR TICU LAR S M AKES TH E if W R IT E Discount Register, Liability Ledger and Maturity Tickler ( Baker-Vawter Company With Either Pen, Pencil or T ypew riter The Most Practical System Ever Devised for the Purpose. Equally Adaptable to Banks of all Sizes. (® ) ( 1 (Jones Perpetual Ledger C o.) NEW YORK 1' CHICAGO Tribune Big 3 5 0 Broadw 'y T h e Man at the Counter Human Nature and some other things as seen by the Man at the Counter Every wide-awake bank official prides himself on the number of new accounts he is able to secure for his institution. The average bank in this respect is not unlike a huge octopus stretching out its long arms in every direction in an endeavor to gather in all the new business coming under its eye. The following simple rules if carried out faithfully will surely land the most obstinate account and assure to the new cus tomer a long and happy life: • 1. Pick out your victim. Then rush upon him from behind. Grasp his right hand firmly in your right hand and seize his right shoulder with your left hand. When you have him well, in hand^ begin, to work his right arm up and down with a regular pump-handle motion, gradually accelerating in speed until you have acquired considerable momentum. Keep this up un til he begins to perspire freely about the temples and the muscles of his right arm become taut. 2. Invite him inside. Then begin as follows: “I have watched with interest the steady growth of your good bank. You have certainly made wonderful strides since your organization. You are situated in a very prosperous locality, an ideal place for a bank. I presume you are in need of a reserve agent in this city and I would like to offer you the services of our bank in this capacity. “We can offer you every facility consistent with sound banking. We have a par list second to none. We can furnish you with Chicago and New York ex change the year round at par. “In case you decide to favor us with your business, we. will furnish you free of charge, a block of drafts, printed on hand-made Venetian Vellum in three col ors.” 3. Then show him through the bank. Explain to him thoroughly the workings of the time-locks, etc., on the money vaults. Explain at length the various workings of each department. Descant freely upon the faithfulness and reliability of all the clerks. 4. If he is still obdurate, show him the ladies’ de partment. Introduce him to the lady teller. She will https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis smile sweetly upon him and probably give him a cal endar and other souvenirs. If this doesn’t land him— well, you don’t want his account. Humanity in general, is always on the lookout for new and effective excuses to offset its short comings,, and the field of banking provides many tempting op portunities for the adept in the science of excuse-craft. It is indeed wonderful to observe the art embodied in some of the excuses invented to cover derelictions in regard to specific instructions given by one bank to another in the ordinary course of business. For in stance : Recently, we forwarded a note of some twenty-fiye dollars odd to North Dakota for collection with the instructions, “ Protest if not paid promptly at matur ity,” standing out in bold red type at the top of our letter. The necessary time elapsed, and having re ceived neither returns nor a certificate of protest, we April, 1909. TH E NORTHWESTERN BANKER 13 Drovers Deposit National Bank of Chicago COMPARATIVE STATEMENT OF GROWTH: May 14 1904 1905 1906 1907 1908 1909—Feb. Assets $4,941,207.00 6.053.767.00 6.122.933.00 6.957.373.00 7.743.187.00 8,294,085.89 W e Solicit Y o u r Chicago Business . *, Quick and E fficient Service D IR E C T O R S O F F IC E R S R. T . F O R B ES, Pr sident G E O . M. B E N E D IC T , Cashier W M . A . T IL D E N , Vice Pres. JO H N F L E T C H E R , Asst. Cashier J. C. M O R R IS O N , Auditor started a tracer out. In a few days we received the note back unpaid with the following little note pinned to it: “We know that we should have protested this note when due, but our notary is a lady and does not have the proper blanks.” Galena, Illinois, boasts of the oldest bank president in the United States. Ninety-five years of age and doing business every day. Recently, we had the pleasure of meeting the young est bank president in the United States; twenty-five years of age. He hails from North Dakota, though by rights he ought to belong to Minnesota— Swanson is the name. Bank directors all over the country seem to be much incensed at Comptroller of the Currency Mur ray’s idea of putting them through the third degree, with his list of twenty-nine questions asking them what they know about banking and the workings of their respective banks. We really don’t see how he dared to do it. Why, we wouldn’t dare to ask our messengers twenty-nine questions about their work even on pay day. Confidential to stenographers only: When bored almost beyond the limit of human endurance, say the wrong thing at the right time; that is, when the vicepresident, cashier, etc., criticise your letters, just look down from your lofty pedestal and say, “ Well, I wrote just what you said,” and if things don’t liven up a bit, we miss our guess. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E D W A R D T IL D E N L. B. P A T T E R S O N M. F. R IT T E N H O U S E W M. A . T IL D E N R. T . FO R B ES A number of the Minnesota members of the Amer ican Bankers’ Association met recently to discuss the matter of providing for more thorough examination of their banks by the appointment of a resident bank ex aminer for each congressional district, and also to con sider the advisability of grouping their banking towns together into clearing house centers. The arguments pro and con were lengthy and tiresome. It was still a harder matter to get the members of the state legis lature interested, as they had troubles of their own. To dissipate the gloom which pervaded the assembly, the entertaining bankers provided a banquet. The decorations were elaborate and the repast was sump tuous. No wants of the inner man were left unsatis fied. The creamed shrimp in particular tickled the palate of one of the suburban visitors. He quickly finished his portion and then politely said, “ Please pass the carrots.” M IN NEAPOLIS & ST. LO UIS RAILRO AD . In connection with their offering of Minneapolis & St. Louis Railroad Company Gold 4s to retire the Iowa Extension 7s, Messrs. Fisk & Robinson have prepared an interesting map showing the development, through purchase and construction, of the so-called “ Hawley” lines from the wheat fields of South Dakota to New port News— the only break being the link; between Louisville and East St. Louis. THE H NORTHWESTERN BANKER April, 1909. Irving National Exchange Bank W est B road w ay an d Cham bers Sts» NEW YORK CITY ROLLIN P. GRANT, Vice-President BENJAMIN F. WERNER, Cashier DAVID H. G. PENNY, Ass’t Cash. H ARRY E. WARD, Ass’t Cashier LEW IS E. PIERSON, President JAMES E. NICHOLS, Vice-Pres CHAS. L. FARRELL, Vice-Pres Capital and Surplus, $3,000,000 Resources $28,770,000 FOREIGN AND DOMESTIC EXCHANGE BOUGHT AND SOLD COLLECTION OF BILL-0F-LADING DRAFTS OUR SPECIALTY Strictly a Commercial Bank The M e e tin g o f G rou p 6, Group 6 of the Iowa Bankers’ Association held their annual meeting in Des Moines on March nth. As usual there was a very large attendance, the number this time being something in excess of 200. The ban quet was served in the large dining room of the Savery Hotel in the evening, being tendered by the Des Moines Bankers’ Club complimentary to the visiting bankers. There was no set program, but general dis^ cussion was had with reference to postal savings banks and guaranteed bank deposits, these subjects having been uppermost in the minds of the bankers for some time past. Hon. John W. Foster, of the Citizens Na tional of Guthrie Center, who has been secretary of the group, was elected chairman for the ensuing year, and Mr. A. E. Hindorf, the live cashier of the Jasper County Savings at Newton, was elected secretary. This puts the affairs of the group for the next year in excellent hands and its interests will be carefully guarded and well looked after by the new officers. The following resolution was adopted : “ Resolved, That on principle we are opposed to the United States engaging in the banking business through the medium of the postal savings bank, and are particularly opposed to the provisions of the Carter bill now pending in congress as recently amended by the author.. We believe its effect will be to transfer a large volume of deposits from the country to the al ready congested money centers and we respectfully request our senators and representatives in congress to oppose the enactment of this measure.” In favor of this resolution, Mr. Jas. G. Berryhill, di rector of the Iowa National, of Des Moines, made a very convincing and effective address, this being the principal address of the evening. Mr. Berryhill strongly opposed the idea of placing in the hands of one man not responsible to the people for his election, the disposition of the people’s money which would find its way to the postal savings bank. Said Mr. Berryhill : “The postmaster general will dispose of that- money where it will do him the most political good, every postmaster will be his emissary, no stone https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Io w a B an k ers A s s o c ia t io n will be left unturned to place the people’s money where it will help the political ambitions of those who handle it.” Mr.. Berryhill’s remarks were greeted with great applause. Mr. J. M. Dinwiddie, of Cedar Rapids, sec retary of the state association, was scheduled for an address, but could not remain owing to the lateness of the hour. Mr. S. M. Leach, of Adel, former chair man, and Lieutenant-Governor Clark made brief re marks, as did also Mr. Fred A. Crandell, of the Na tional City Bank, of Chicago; Mr. Jno. Fletcher, of the Drovers Deposit National, of Chicago, and C. W. Ross, of the Commercial National, of Chicago. Mr. E. R. Moore, of Cedar Rapids, favored the appoint ment of more bank examiners; said that the postal savings bank clause in the national platform was “buncombe.” The following committees were ap pointed by President Foster to serve during the com ing year: Executive Committee— S. M. Leach, Adel; J. D. Whisenand, Des Moines; J. H. Blair, Des Moines; Parley Sheldon, Ames; L. B. Myers, Knoxville. Arbi tration— L. B. Myers, Knoxville; Edgar John, Nevada; C. C. St. Clair, Marshalltown. Uniform Action— Par ley Sheldon, Ames; E. E. Hughes, Boone; H. M. Pattee, Perry. • Reception and Program— S. M. Leach, Adel; G. D. Ellyson, Des Moines; M. M. Head, Jeffer son. Protection Against Fraud— J. D. Whisenand, ------------ THE ------------ First National Bank OF SIOUX CITY, IOW A Capital, $300,000.00 Surplus and Profits, 91,037.88 Deposits, $3,oIo,I66.51 Accounts of banks received on liberal terms. A large list of par points in Iowa, Minnesota, Dakota and Nebraska. Collec tions carefully and promptly made. A C K L E Y H U B B A R D , P re sid e n t. L . S. C R IT O H E L L , C ash ier. W . L . M O N T G O M E R Y , V ic e -P re s . F . L . B L A N D , A s s ’ t C ash ier. April, 1909. TH E NORTHWESTERN Des Moines; Jno. A. Story, Indianola; Chas; Brinton, Dallas Center. Press and Publication— j j H. Blair, Des Moines; Emerson DePuy, Des Moines; Leon Browti; Des Moines. Special Committee on New Mem bers— M. S. Helland, Slater; O. M. Thatcher, Luther; G. W. Curtis, Redfield; John F. Schee, Indianola; C. C. Trine, Marshalltown; C. A. Barr, Des Moines; R. C. Head, Jefferson; S. L. Rutt, Casey; S. J. Pooley, Grinnell; P. E. Johansen, Colfax. Report of the President and Secretary. The Iowa Bankers’ Association has cut up the state into eleven groups. Our Group No. 6 consists of twelve counties in the very heart of the state, to-wit: Boone, Dallas, Greene, Guthrie, Jasper, Maripn, Ma haska, Madison, Polk, Poweshiek, Story and Warren. We rank first among the groups in the number of banks, capital stock and deposits, and ranked first last year in the growth of membership. During the year closing with the. meeting in Sioux City in 1908, there BANKER 15 Zbe C h a s e VI a tip n a.I B a n I? ©f tbc ©it£ of Hlew ¡|?ork U N IT E D S T A T E S D E P O S IT O R Y CLEARING HOUSE BUILDING Feb. 5 , 1909 . c a p it a l , S U R P L U S A N D P R O F IT S , (e arn e d ) D E P O S IT S . . . . - $ 5,000,000.00 5,931,026.0c 105,842,591.0c ©fficers A . B A R T O N H E P B U R N , P re s . S ^ M U E L^ H . M I L L E R , C ash . F ? E ’ A s s t - C ash . H E N R Y M . C O N K E Y , A s s t. C a sh . A L B E R T H . W IG G IN , V ic e -P re s . C H A R L E S 0 . S L A D E , A ss t. C ash . W M . E . P U R D Y , A s s t. C a sh . A . 0 . A N D R E W S , A s s t. C ash , directors H E N R Y W . C A N N O N , Ohm. .J O H N I. JA M E S J. H IL L GEORGE GRANT B. SCH LEY ALBERT A. BARTON H EPBU RN GEORGE , F R A N C IS L . H IN E W ATERBURY F. BAKER H . W IG G IN F . B A K E R , JR . JJatwnal B ank o f Commerce in Jiem gorfe A . E. HINDORFF Cashier Jasper Co. Savings Bank, Newton. Newly elected Secy, of Group 6, Iowa Bankers Association was added to the state association fifty-two new mem bers, and of this number our group contributed fif teen, or nearly one-third of the total. We wish to acknowledge our obligations to those members who have kindly assisted us in our efforts to secure re cruits, and particularly to thank Mr. O. M. Thatcher, of Luther; M. S. Helland, of Slater; H. M. Wilson, of Lacona, and Clarence Dunn, of Van Meter, for ac tive and efficient work in their respective home coun ties. For several years the only officers elected by this group have been a chairman and a secretary and upon them has devolved the entire administration of the group affairs. This is not in accordance with the group by-laws, which have been published from year to year in the proceedings of the state association. Whether these by-laws were ever adopted, or whether they require adoption by this group, we do not know, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis transaction of domestic and foreign banning, the Rational "Bant of Commerce in £>ctt jPorfi offers to banns ano banters tbe most liberal terms consistent mttb eongenmtitoc methods, ano the assurance that the interests of its clients Shall at all times eeceibe its paramount consideration. Che statement of the ambition of the ‘B ans on the 22nd of au gu st last, as Submitted to the Com ptroller of the Currency, shotted Capital, . . . $25,000,000.00 Surplus am? \ 1 A n n o n n n Slniuptbfb ¿profits,} 14-928,090.22 B e d sits. . ... . 144,511.475.46 Officers V a le n tin e P . S n y d e r . P resid en t Tboma» F. Ryan. V tee~Pre«uJUnt ll* a iy A . Smith, Vice-President W . C , Duvall. Cashier Meilson Olcott, Assistant Cashier O liver I. M a t, Assistant Cashier Joseph Byrne, J r „ Assistant Cashier Faris P | Russell, Assistant Cashier Utrtctors :• Adria» Jr. J mm * N . J tm * A .O . JttilKará (Uh» : P*ttl Morton W aiter G. Oakmaa j Jame. H. Parker : Charle* A- Peebody Luther Kouatse i W o»dtury L*j»í <L>» : Chárít» Lanier -»> : : Frederick Startfe* A. W . Mello» H. H. V re e W Davidi H. Moffat Harry Pay»« Whitaey Victor Mor»wet* Grorfa W . Young TH E i6 NORTHWESTERN BANKER April, 1909. In All T hat is Good Iowa Affords the Best LIFE INSURANCE arid GOOD BANKING Among the bankers who are policy holders:— George E. Roberts, Leslie M. Shaw, Ralph Van Vechten and TWO HUNDRED and FORTY OTHER BANKERS in IOWA. Homer A. Miller, President of the Iowa National Bank, Des Moines, Iowa, was insured for $2,000 for twenty years, paid in premiums total $1192, had the option of a cash settlement of $1596, giving 20 years insurance and $404 profit. This Company Makes Results—N ot Estimates TRANK D. JACKSON, President SIDNEY A. FOSTER, Secretary Royal Union Mutual life Insurance Company, Correspondence Solicited but at any rate, no record or knowledge of such adop tion has ever been brought to the notice of the present officers. The by-laws referred to are concise and are as follows: Group By-Laws. Officers. 1. The officers of this group shall be a chairman, secretary and treasurer. 2. The offices of secretary and treasurer may be held by one representative if the members of this group at a regular meeting so direct. Executive Committee. 3. The administration of this group shall be vested in an executive committee of five. Election. 4. The officers and executive committee shall be elected at the annual meeting each year, and shall assume their respective offices immediately after the annual convention following their election, and shall hold such office until their successors qualify. 5. The officers of this group shall be ex-officio mem bers of the executive committee. Standing Committees. 6. There shall be five standing committees of three members each. The chairman of each standing com mittee shall be a member of the executive committee. 7. The standing committees shall be as follows: 1. Arbitration. 2. Uniform Action. 3. Reception and Program. 4. Protection Against Fraud. 5. Press and Publication. Appointment of Standing Committees. 8. Within ten days of the annual meeting each year the chairman of the group shall appoint the standing committees, subject to the approval of the executive committee. Duties of Officers. 9. It shall be the duty of the chairman to preside at all meetings of the group and he shall be the represen tative of the group at council meetings, whenever pos sible for him to serve. If unable to serve he shall ap point a substitute. 10. The secretary shall keep and have charge of the records of the group and attend to such corre spondence as shall be necessary. 11. The treasurer shall have the custody of the money and property of the group, and pay the liabil https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - Des Moines, Iowa. Agents Wanted ities upon vouchers approved by the chairman of the executive committee. Vacancy. 12. In case of a vacancy in any office or committee in the group, the executive committee may fill the va cancy for the unexpired time. Rules. 13. The rules of the assembly of the state of Iowa shall be the rules of this group so far-as applicable. By-Laws May Be Amended. 14. These by-laws may be amended or altered at any regular meeting of the group by a vote of twothirds of the members present. Order of Business. Report of the Executive Committee. Report of Standing Committees. New Business. Unfinished Business. Adjournment. The present officers have followed what seemed a well established precedent and have called but one group meeting each year. As the precedent seems to conflict with the by-laws of the state association, which especially requires two meetings and permits four, we suggest that there be an expression as to what shall be done in the future as to this matter. We are again under great obligations to the Des Moines Bankers’ Club, which not only provided this splendid banquet, but has actively assisted in arrang ing this evening’s program, and in every way possible has helped us in the managemeat of the group affairs, and as officers of the group and in behalf of the group, we extend to the club and to the Des Moines bankers our sincere thanks. Respectfully submitted, S. M. Leach, Chairman. Jno. W. Foster, Secretary. The registry list contained the names of the follow ing : '• J. W. Foster, president Citizens’ National, Guthrie Center; L. B. Myers, cashier Citizens’ National, Knox ville; W. R. Myers, vice-president Citizens’ National, Knoxville; W. E. Barrett, cashier Valley National, Des Moines ;.M. Newcomer, assistant cashier Cedar Rapids National, Cedar Rapids; D. M. Sproul, vice president Citizens’ Savings, Washington: C. C. Cole, Jr., vice-president Valley National, Des Moines; John April, 1909. TH E NORTHWESTERN M. Udy, assistant teller, People’s Saving, Cedar Rap ids; T. T. Henryson, cashier First National, Story City; S. Ml Leach, president Adel State, Adel; A. C. McGill, cashier Montezuma Savings, Montezuma; G. B. Imhoff, auditor Citizens’ National Loan & Trust Co., Waterloo; C. A. Barr, assistant cashier Des Moines National, Des Moines; W. J. Schroeder, cash ier Continental National, Chicago; E. A. Slininger, as sistant cashier People’s Savings, Des Moines; C. H. Hixson, director Mackelburg National, Mackelburg; M. M. Head, president First National, Jefferson; R. C. Head, vice-president First National, Jefferson; Simon Cassady, president Central State, Des Moines; C. C. Lundy, cashier-Bank of Cooper, Cooper; H. M. Cul bertson, cashier Citizens’ State, Panora; E. H. Fur row, assistant cashier Merchants’ National, Cedar Rap ids ; M. V. Myers, pay teller, Merchants’ National, Cedar Rapids ; Ml H. Thatcher, president Luther Sav ings, Luther ; Geo. V. Harritt, assistant cashier Peo- JN O . W . F O S T E R President Citizens National Bank;’N ew ly Elected President Group 6, Iowa Bankers Association pie’s Savings, Des Moines; C. C. St. Clair, cashiei First National, Marshalltown; H. T. Blackburn, cash ier Iowa National, Des Moines; Edgar John, cashier First National, Nevada; O. H. Leonard, cashier Citi zens’ Savings, Cedar Falls; F. H. Jenkins, cashier First National, Bagley; Edward Cain, president Lanesboro Savings, Lanesboro; J. D. Whisenand, vice-presi dent Central State, Des Moines; M. I. Price, cashier Farmers’ Savings, Ira; W. M. Sadler, vice-president Farmers’ Savings, Ira; M. M. Reynolds, president Guthrie County National, Panora; C. J. Martin, presi dent First National, Churdan; G. D. Ellyson, presi dent Marquardt Savings, Des Moines; Jno. Fletcher, assistant cashier Drovers’ Deposit National, Chicago, Alfred Hammer, president Valley Savings, Des Moines; C. W. Ross, Commercial National, Chicago’, H. P. Scholte, cashier Pella National, Pella; Frank H. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKER 17 The National Bank o f the REPUBLIC of Chicago continues to offer to banks and bankers the advantage of its facilities, developed and perfected by eighteen years o f close per sonal relations with a constantly growing list of correspondents throughout the world OFFICERS JOHN A. LYNCH, President R. M. McKINNEY, Cashier THOS. JANSEN, Asst. Cashier W M. B. LAVINIA, Asst. Cashier ,W. T . FENTON, Vice-President O. H. SWAN, Asst. Cashier JAMES M. HURST, Asst. Cashier W . H. H U RLEY, Asst. Cashier Grove, cashier Farmers’ Savings, Madrid; M. S. Helland, cashier Farmers’ Savings, Slater; Hugh G. Little, cashier First National, Prairie City; Fred S. Risser, cashier Central State, Des Moines; O. M. Grove, cash ier Farmers’ Savings, Roland; J. M. Dinwiddie, cash ier, Cedar Rapids Savings, Cedar Rapids; Cecil Dixon, Chas. Hathaway Co., Chicago; E. E. Hughes, presi dent Iowa National, Boone; H. W. Grout, director First National, Waterloo; G. E. Pearsall, cashier Citi zens’ National, Des Moines; J. H. Blair, vice-president Des Moines National, Des Moines; B. F. Baker, presi dent Farmers’ Savings, Ira; C. Dunn, cashier Van Meter State, Van Meter; R. L. Arnold, cashier First National, Newton; C. R. Brenton, vice-president Bank Dallas Center, Dallas Center; C. D. Hoon, cashier Farmers’, Woodward; J. L. Smith, cashier State Sav ings, Zearing; Perry D. Pitcher, cashier Farmers & Merchants’, Scranton; D. H. Bartlett, cashier Colo Savings, Colo; H. S.'Buttler, vice-president Iowa Na tional, Des Moines; M. McDonald, president Bayard Savings, Bayard; C. W. Dickson, assistant cashier Commercial Bank, Maxwell; C. C. Truis, assistant cashier Marshalltown State, Marshalltown; P. E. John son, cashier First National, Colfax; S. J. Oldfield, cash ier Citizens’ State, Mitchellville; John Carmody, cash ier People’s State, Perry; H. M. Pattee, cashier First National, Perry; S. J. Cooley, cashier Grinnell Sav- Peoples Savings Bank DES MOINES, IOWA E stablished 1890 CA PITA L (Paid in) - $ 5 0 ,0 0 0 .0 0 CA PITA L (Earned) - - 5 0 . 0 0 0 .0 0 SURPLUS (Earned) - - - DEPOSITS (Over) - - - $ 1 0 0 ,0 0 0 .0 0 - 1 0 0 ,0 0 0 .0 0 - 1 ,9 0 0 ,0 0 0 .0 0 C. H . M A R T I N ..................................P resident T . F. F L Y N N - - - - - V ic e P resid en t F. P. F L Y N N ........................................... C ashier E . A . S L IN IN G E R - - - A sst. C ashier G E O . V . H A P .R IT T - - - A sst. C ashier Accounts of Banks and Bankers Solicited I 18_____ _ TH E NORTHWESTERN BANKER April, 1909. The Seaboard National Bank of the C ity of New York Capital $1,000,000 Surplus and Profits (earned) $1,685,000 A C C O U N T S S. G. BAYNE, President S. G.NELSON, Vice Pres. W. K. CLEVERLEY, Ass’t Cashier L. J. DEVAUSNEY, Ass’t Cashier. ings, Grinnell; Will A. Lane, assistant cashier, First National, Guthrie Center; W. M. Livingston, cashier State Savings, Monroe; H. B. Allfree, vice-president .First National, Newton; W. H. Jasper, director First National, Newton; Homer A. Miller, president Iowa State, Des Moines; J. B. Lyman, cashier, Iowa Sav ings, Tracy; A. C. Miller, president Home Savings, Des Moines; H. J. Garlech, cashier State Savings, Maxwell; L. E. Brown, cashier Citizens’ State, New ton; J. G. Rounds, president Citizens’ State, Des Moines; F, A. Campbell, assistant cashier National City Bank, Chicago; R. R. Linn, cashier Pilot Mound, Pilot Mound; W. P. Linn, president Pilot Mound, Pilot Mound; J. H. Hogan, cashier Marquardt Savings, Des Moines; G. W. Curtis, cashier State Bank, Redfield; A. C. Curtis, cashier First National, Stuart; F. C. Repass, bookkeeper Exchange Bank, Stuart; L. O. Shaffer, cashier Citizens’, Altoona; B. F. Rothti;ock, cashier Bank of Bondurant, Bondurant; C. C. Cook, cashier Savings, Boonville; W. J. Stewart, president Grimes Savings, Grimes; Geo. McCullough, president Home Savings, Humeston; Herman Raag, president Savings, Valley Junction; R. F. Garber, cashier Sav ings, Sheldahl; W. J. Beans, president Farmers’ Na tional, Oskaloosa; A. B. Shawver, cashier Savings, Grimes; W. W. Goodykoontz, director Farmers’ Sav ings, Madrid; H. S. Thomson, cashier Bank of Earlham, Earlham; C. A. Rawson, director Des Moines National, Des Moines; D. A. Byers, cashier Century Savings, Des Moines; J. H. Derraugh, cashier Warren County State, Indianola; R. E. Ellis, representative Fick & Robinson, New York and Chicago; M. F. Palmer, cashier Dexter Savings, Dexter; Wm. Ander son, president State, Jewell; H. H. Hollingsworth, cashier Valley National, Des Moines; F. O. Hanson, cashier State, Bode; J. G. Olmstead, Central State, Des Moines; A. J. Fawcett, cashier People’s State, Maxwell; J. G. Berryhill, director Iowa National, Des .Moines; W. O. Finkbine, director Iowa National, Des Moines; D. G. Edmundson, director Iowa National, Des Moines; D. P. Reinking, director Valley National, Des Moines; C. J. Imes, cashier Burton & Co. State, Kellogg; D. F. Witter, vice-president.Marquardt Sav ings, Des Moines; W. C. Stuckslager, president Stuckslager, Lisbon; W. G. Harrison, president Cen tury Savings, Des Moines; H. L. Taylor, cashier State, Woodward; S. O. Conger, president State, Woodward; J. Shambaugh, vice-president Savings, Baonville; G. E. Grier, cashier State, Deep River; J. Johnson, cash https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S O L IC IT E D C. C. THOMPSON, Cashier J. C. EMORY, Ass’t Cashier. O. M. JEFFERDS, Ass’t Cashier ier Farmers’ National, Osage; W. E. Coffin, president Iowa Loan & Trust, Des Moines; C. R. Holland, clerk Century Savings, Des Moines; L. M. Barlow, assistant cashier Iowa Trust & Savings, Des Moines; W. W. Mape, director Century Savings, Des Moines; G. E. King, director Citizens National, Des Moines; F. H. Simpson, director Iowa Trust & Savings, Des Moines; Wl B. Seeley,president First National, Farmington; J. W. Bowman* cashier First National, Marion; W. C. Hayward, secretary io f’'s'tate| Davenport; R. M. Fenlagson, president First National, Grundy Center; J. L. Bleakley, stated-auditor, Des Moines; J. W. Mullane, cashier First National, Valley Junction; G,. E. Mac Kinnon, vice-president Mechanics’ Savings, Des Moines; Parley Sheldon, president Story County, Ames; J. A. Smith, vice-president Farmers’ National, Osage; C. J. Fultpii, Fairfield; J. E. Bruce, president Iowa National, Atlantic ,; Harry Fisher, assistant cash ier Oak Rath, Des Moines; M. Gammon, Bank Bondur^n^-Bopdurarft; W. B~ Martin, Iowa Trust, Des Moi^s,;' J&W.;’Hill?iGCiitra| State, Des Moines ; H. E. TeadhdiiLf^k^prgsident Home Savings, Des Moines; G. M\V$n^EfVin, director Des Moines National, Des Moine^J 0 | kA .; Htflmes, president Oak Park, Des Moines Beebe, vice-president Citizens’ Na tional, Hampton; Gardner Cowles, director First Na tional, Swea’C ity ; G. Wv,, Clark, lieutenant-governor, Adel. ■ ■ The second greatest mistake in business is negli gence. The greatest is carelessness. A modern business necessity to any Paying Teller, Paymaster or Cashier THE MEAKER COIN CASHIER (S pringless) T hree new M odels $15 $20 $30 o f s e v e r a l o f th em . T h e o n ly s tr ic t ly O N E H A N D on th e m a r k e t, givin g- a C O M B I N A T I O N o f c o in s a t a S IN G L E S T R O K E . T h e re a re u sers i n y o u r v ic in it y , le t us sen d y o u t h e n am es T h e y are o u r best sale sm e n . Used by the busiest Paying Tellers in the United States. N ot on ly b e c a u s e i t is th e fa s t e s t m a c h in e , b u t b e ca u se i t n e v e r ca u s e s tro u b le . Manufactured by The Ireland & M atthews Mfg. Co. 102 Iro n S t., Detroit, Mich. April, 1909. TH E NORTHWESTERN BANKER 19 T h e N ew Des Moines National Bank Building In the future it will be im possible for anyone who vis its this city to say they were unable to find the Des Moines National, because this unique structure arrests the atten tion at once. On the corner of Sixth and Walnut, practically but one story high, built of pure white glazed tile, elegant and classic as to architecture, it catches the eye immediately, and the beholder stops to gaze upon and admire its beauty. Its individuality is en hanced by the fact of its be ing nearly surrounded by buildings from eight to elev en stories high. The officers of the bank hope to move into the new building about May 15th. The interior finish will be in marble and ma hogany. What They Are Doing—And How E D IT O R ’S N O TE:— I n th is d ep a rtm en t w e h o p e to be ab le to p re se n t to o u r re a d e rs e ach m on th som e o f th e th in g s b e in g d o n e b y th e up-to-date b a n k ers th ro u g h o u t th e n o rth w e st, to p rom o te th e ir in terests, a ttra ct a tte n tio n to th e ir b a n k s an d in crease th e ir d eposits. W e th e re fo re co rd ia lly in v ite o u r rea d ers to sen d us in fo rm atio n r e la tiv e to a n y th in g sp ec ia l th e y m a y h a v e u n d e rta k e n , g iv in g fu ll d e ta ils as to th e m easu re o f su ccess atta in e d . T h e d ep a rtm en t m a y b e m ad e a m ost v a lu a b le “ c le a rin g h o u se” for id ea s i f o u r re a d e rs w ill resp on d to o u r in v ita tio n for co n trib u tio n s. T H E A D V E R T IS IN G OF T H E BR ED A SAVINGS BANK. One of the real live advertisers among the smaller banks of the state is the Breda Savings Bank, located at Breda, in Carroll county. This bank has a habit of using only half-page spaces, but occasionally blossoms out with a full page in the local paper, advertising the bank and the advantages which they have to offer the public. In a recent issue they take an entire page to exploit'the bank and its interests. When it is consid ered that Breda is a town of less than 500, such enter prise as this kind is certainly worthy of note. As to whether pushing aggressive methods and first-class advertising wins out in the banking business in a country town or not, the following clause taken from the full page ad referred to tells the story: “The de posits of this bank have grown in the last three years from $104,489 to $345,922, a pretty good showing for a bank in a small town of about 400. We attribute the growth to the fact that the people of this town and sur rounding country know that we invest the money that they are placing with us right here at home. For over two years to our knowledge no one in this com munity has found it necessary to apply elsewhere for money for farm loans.” No doubt the reasons given above in the advertisement of this bank have much to do with their success, as good advertising must always be backed up by good business methods. But the fact https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis is not to be denied that the aggressive advertising which is constantly put forth by this bank has been a great factor in the building up of their extremely satis factory business, and what they have done any other bank in any town, large or small, throughout the state can also do, as there is no patent on good advertising. AN A T T R A C T I V E B O O K L E T IS SUED BY N A T I O N A L OF CORNING. THE F IR S T In a very handsome, little booklet entitled, “A Quar ter of a Century,” the First National Bank of Corning tells the story of their growth and prosperity from the time the bank was organized in 1883 up to the close of last year, which completed their first quarter of a century. The story is told in a very interesting man ner and is extremely readable. The deposits have in creased from $52,000 in 1883 to over $400,000 at the last statement. A splendid showing and a most ex cellent record. The little booklet is a very effective piece of advertising and suggests the possibilities along this line for banks throughout the state. Mr. F. M. Widner is the president and Mr. B. Newcombe is the cashier. “T H E A B C OF T H E C H E C K IN G A C C O U N T .” The First National of De Witt, Iowa,-sends to its customers a little booklet bearing the above title. One effective thing about a booklet is that the bank has room enough to tell the story in detail. This booklet is 20 TH E NORTHWESTERN printed in two colors, the headings of each paragraph being in red, the balance in black, with an advertise ment of the bank on the last page. The booklet is full of information regarding how to start and how to conduct a checking account. It tells the customer the advantages to be derived and is a very effective argu ment, and we have no doubt will prove of much advan tage to the hank. The First National is associated with the Farmers & Citizens’ Savings Bank and the latter also issues a little booklet something in the form of a pass book which gives information regarding the starting of the savings account— banking by mail, rules governing deposits and forms of savings accounts, and various things of that sort which are of interest to the public. This booklet idea is most excellent and as an auxiliary to the regular newspaper advertisements is to be highly commended. E X TE N SIV E IM PROVEM ENTS IN TH E N A T IO N A L BAN K OF TH E REPUBLIC, CHICAGO. The constantly increasing business of the* National Bank of Chicago has made necessary some very ex tensive improvements, in the rooms occupied by this progressive institution. The work will begin at once on the enlargement and improvements which will give them one of the finest banking rooms in Chicago. The National Bank of the Republic stands very high in the estimation of the bankers throughout the country. The line of deposits is constantly on the increase and the number of accounts grows larger all the while. Mr. The Mercantile National Bank, «1 ST. LOUIS BANKER ' April, 1909. J. M. Hurst, assistant cashier, represents the bank in the field and is the convention man. D RO VERS’ D EPO SIT N A TIO N AL TO EN LARGE. Expansion seems to be the order of the day among a number of the leading Chicago banks. A representa tive of the Northwestern Banker called at the Drovers’ Deposit National at the stock yards the other day and the fact was revealed that this progressive and aggres sive institution was badly cramped for room even though the space now occupied seems ample, but more room is required for the savings department, as well as for the main banking room, and a very large addi tion is to be made which is to accommodate the sav ings department and leave more room on the main floor. This bank is going forward at a very rapid rate. It is ably officered by men who have learned the value of courtesy and promptness in all of their dealings. In fact, the term “ quick service” has become the slogan of this bank. Mr. R. T. Forbes is president, Mr. Geo. Benedict, cashier, and Mr. John Fletcher, who is very well known throughout the entire Northwest, is the assistant cashier. FOR 'SALE.—Complete outfit of bank furniture and fix tures used tout nine months; furniture is imitation of mahog any, touilt up on sugar maple and just as good as new. The outfit is complete and includes one solid mahogany roll top desk and one round ©crew door time lock safe. Outfit cost $2,100. Will sell for $1,150 if taken soon. Outfit is first-class. W. E. Foshier, Harvey, Iowa. Festus J. Wade, President Edward Buder, Cashier The Mercantile Trust Company, of ST. LOUIS Capital and Surplus $2,000,000.00 Capital and Surplus, $9,500,000.00 Accounts and collections from Banks, Bankers, Corporations and Individuals solicited upon fav orable terms. Immediate and careful attention given to all business. MISSOURI, SOUTHERN, Collections on J ïïïïïh . xmKlA/mJNli3imi39 KANSAS, OKLAHOMA, F inancial Department a Specialty O fficers: Is open for business in the Building of the Mercantile Trust Company A cts a s R eserve Agents for National Banks CORRESPONDENCE Bond D epartm ent Safe D eposit D epartm ent F estus J. W ade P resid en t G eo rg e W . W ils o n ’ V ic e P res. E dw ard B uder, Gash. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Transacts a General Deposit and Trust Company B usiness AND Real Estate D epartm ent Foreign Exchange Department Trust Department W ill p a y I N T E R E S T on d a ily ba lan ces an d ce r tifica te s of deposit. W ill m ake L O A N S on ap p roved co lla te ra l. W ill b u y and sell H IG H G R A D E B O N D S . W ill ad v ise those se e k in g I N V E S T M E N T S . W ill fu rn is h lis t S E L E C T E D S E C U R I T I E S on a p p licatio n . W ill S T O R E y o u r la rg e b u lk y v a lu a b le s in B U R G L A R and E I R E P R O O F S T O R A G E V A U L T S . W ill fu rn ish S T E E L S A F E D E P O S I T B O X E S fo r y o u r se cu ritie s an d sm all v alu a b le s a t $5.00 p e r y e a r and up. W ill ----- ---------------------------— jj no a /g c u t o . W ill p rocu re T E N A N T S fo r y o u r v a c a n t houses, W ill co lle ct y o u r R E N T S , W ill p a y y o u r T A X E S . W ill care fo r y o u r P R O P E R T Y , g iv in g it p erson a l atten tion . W ill b u y an d sell F O R E IG N E X C H A N G E W ill m ake C A B L E and T E L E G R A P H I C tra n s fe rs . W ill issu e T R A V E L E R S ’ C H E C K S an d L E T T E R S o f C R E D IT , p a y a b le in a ll p a rts o f th e w o rld . W ill ad v ise you as to th e L A W S O F D E S C E N T W ill w r ite y o u r W I L L . W ill ad m in ister y o u r E S T A T E . W ill a c t as G U A R D IA N fo r y o u r ch ild ren . W ill E X E C U T E e v e ry tr u st w ith fid elity. INTERVIEWS INVITED TH E fVpril, 1909. NORTHWESTERN 2j BANKER V A L L E Y N A T IO N A L B A N K -------------------------------- D E S M O IN E S , I O W A --------- ----------------------$300,000.00 61,934.70 2,040,480.90 CAPITAL, SURPLUS and PROFITS, DEPOSITS, VALLEY SAVINGS BANK, Under Sam e M anagem ent, DEPOSITS, - - - $1,049,227.67 T H E V A L L E Y N A T IO N A L B A N K w a n ts y o u r D es M oin es a c c o u n t and claim s to m erit it o n th e grou n d o f careful, c o n se r v a tiv e m a n agem en t and a rep u tation for ta k in g care o f and se r v in g its co rre sp o n d en ts in a liberal and sa tisfa c to r y m anner. 2 x/z % in terest paid to b anks o n daily balances. L egal reserv e a g en t fo r N a tio n a l banks. W rite us. R. A. CRAWFORD, P rest. C. T. COLE, J r ., Vice P rest, D. S. CHAMBERLAIN, Vice Prest. W. E. BARRETT, C ashier A GREAT BU ILDIN G FOR TH E B LA CK H AW K state with the wireless system the same as they are in the’ East. Negotiations are now pending with a N A TIO N A L BAN K OF W ATERLO O . ashington and Chicago for A splendid eight-story structure is to be erected this score of cities between summer at Waterloo to house-.the Black Hawk Na the building of towers and steel has been ordered for tional Bank. A recent issue of the Waterloo Reporter their erection. The people of the West are not slow contained a picture of the building, accompanied by in awakening to the fact of the necessity of quick, reliable and cheap communication and see in the wire the following description: “The accompanying cut shows the magnificent less a service that they can ill afford to get along with Black Hawk bank building which will be built this out.” summer on the corner of West Fourth and Commercial TH E CHICAGO CONVENTION. streets. It will be eight stories high and surmounted with the DeForest wireless station, the first one to be The Chicago Auditorium Theater has been secured erected in the state. for the business -sessions of the American Bankers’ “The building will be one of the largest and best Association during the convention to be held the week equipped in the northern part of the state. The first of September 13th. As this theater is connected with story will be ,twenty feet high and will be used by the the Auditorium Hotel and the Annex, which will be bank. It will be finished in marble and will have six headquarters and also the place for registration, it cages, consultation rooms, and will be equipped with a will be a great source of convenience for the associa ladies’ rest room and a department especially for the tion. The theater is one of the largest and finest in transacting of a banking business for ladies. The re the country and has unusual acoustic properties. maining seven stories will be fitted in the most mod The clearing house banks passed a resolution re ern fashion for offices, and the floors of the halls and questing the banks of Chicago not to engage rooms lobbies will be of tile. The construction will be of in bulk at the various hotels for their customers. This steel frame absolutely fireproof, equipped with the action is commendable and will leave the hotels open vacuum cleaning process and modern ventilation. The for the bankers of the country to reserve their own first story will be built of granite terra cotta and the accommodations, and they will be taken care of accord top stories of Kittaning brick. Automatic elevators of ing to the date of their applications, as first come will the twelve-passenger size will take care of the tenants, be first served. There are many good hotels in Chi and the building will be provided with light on all cago and some of them close to headquarters hotel. It sides. is also expected that the new La Salle will be finished “ With the wireless station located on the top it w ‘H in time so that there need be no fear ..as to bankers be the most complete and modern equipped building in securing desirable accommodations. the state. This great improvement and convenience Local committees of Chicago bankers have not yet will place Waterloo in direct communication with all been appointed, but will be named in the near future. the large cities of the West and no doubt prove to be a great money saver in the way of transmission of mes H. D. C O PE LA N D & CO, sages. The arrangements for the erection of the tower have been practically completed and Mr. Preuss, the 181-183 U N IO N S T O C K Y A R D S general manager of the company, will leave soon Chicago for the East. It is the intention of the pro moters to equip' every city of any consequence in the B U Y AN D S E L L BANKS. We buy and sell banks and bank stocks. We supply banks with thoroughly reliable and competent officers and clerks. We secure positions and changes in location for bank officers and clerks. We locate desirable points for the establishment of new banks. We aid bankers in the organization of new banks if they will furnish us with the location. We have a large number of clients and we are growing every day. All business strictly confidential. If interested, correspond with —THE WALTER H. HULL COMPANY, MARSHALLTOWN, IOWA. ' Dec. ’08, t f https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LIVE STOCK COMMISSION MERCHANTS B a n k e rs d e sirin g to m a k e lo an s on L iv e S to c k or R a n ch e s or h a v in g lo a n s th e y .w is h in v e stig a te d sh ou ld corresp o n d w ith u s. W e a r e up to d ate in a ll lin e s of th e L iv e S to c k b u sin e ss and ch a rg e s w ill be re aso n able. REFEREN CES N a tio n a l L iv e S to c k B a n k , C h icag o N atio n al' B a n k of, R e p u b lic , C h ic a g o . . , L iv e S to c k S h ip m en ts S o licited THE 22 NORTHWESTERN April, 1909. BANKER THE DENVER STOCK YARDS BANK Located in Live Stock Exchange Building, Denver Union Stock Yards, Denver OFFICERS CHAS. FLETCHER, JR., President C. K. BOETTCHER. Vice-President JOS. S. DAVIS, Cashier CHAS. I. DEARDEN, Ass’t Cashier If not alread y a custom er w e invite you to becom e one Located at the Denver Union Stock Yards, we are enabled to give close attenton and quick action to business pertaining to shipments to the mark et. But our location in no way in terferes with business not of this na ture; our mail facilities enable us to give prompt attention to any business entrusted to us. DIRECTORS CHAS. FLETCHER, Jr. HENRY GERHARD C. K. BOETTCHER GEO. W. BALLANTINE A. H. VEEDER, Jr. W e re c e iv e a c c o u n ts o f in d iv id u a ls , firm s, c o r p o r a tio n s , b a n k s a n d b a n k e rs on fa v o r a b le te r m s a n d s h a ll b e p le a s e d to m eet o r c o rr e sp o n d w ith th o se w h o co n te m p la te m a k in g ch a n g e s o r o p e n in g n e w a c c o u n ts . The well-known reputation of Chicago, however, as an entertaining city insures all visitors the best kind of a time and yet the entertainment will be so arranged as not to interfere with the necessary business ses sions. Chicago being so centrally located and the con vention being held at the right season of the year, it is believed it will be the largest and most successful convention in the history of the association, and it is estimated that there will be at least five thousand per sons in attendance. TH E PA Y IN G T E L L E R ’S SO LILO Q U Y. To pay, or not to pay, that is the question: Whether ’tis nobler in my mind, to suffer The stings and arrows of an indignant customer, Or to bring upon my head official displeasure By cashing a worthless check? And then go home To remain indefinitely; and by that I mean Possibly to end the continual heart-ache, And all the troubles that beset me here— ’Tis a consummation devoutly to be wished. To get fired, to work no more; perchance to starve—■ Aye, there’s the rub; For who knows how long it takes to starve, And'then what dreams may come to me When I have shuffled off this mortal coil— This makes me hesitate; there’ll be trouble anyway. Of course I do not want to live too long, Because too long a life is a calamity indeed. And then again who wants to bear the whips and Scorns of unreasonable customers, The dead-beat’s schemes, the proud man’s contumely The pangs of unappreciated effort, The jibes of my fellow workmen, When I myself might my quietus make By means of an empty larder? Where is the man that can smile ’neath such a load? It is easy enough to die, but then you’re a long time dead. And there is always that dread of something after death— The undiscovered country from whose bourne No traveller returns— puzzles my will And makes me rather cope with all my troubles here, Than fly to others that I know not of. Methinks I will refuse to pay this check, And take whatever comes with proud contempt. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Send Us Your Western Collections TH E AN N U AL CONVENTION. OF TH E IO W A BAN K E R S’ ASSOCIATION. The next annual convention of the Iowa Bankers' Association will be held at Waterloo, and, as per a recent meeting of the executive council, the dates for this convention have been fixed for June 10th and nth. It is a well-known fact that Waterloo has a reputation for “doing things,” and the indications are that the live bunch of bankers in that city will put up an entertainment for the visiting bankers this year which will reflect great credit on this hustling city. At the recent group meeting, held at Cedar Rapids, there was a crowd of financial men from Waterloo all boost ing for the convention and they have set the mark at a thousand, it being their intention to break all pre vious records in point of attendance. It is evident, therefore, that there will be something doing in Water loo on the dates indicated, as they never do things in a slip-shod or half-hearted manner up there. From now until convention time the cry will be “ On to Waterloo.” Among those present were: J. T. Brooks, of Hed rick, president; J. M. Dinwiddie, secretary, Cedar Rap ids; A. C. Smith, Clinton; F. B. Parker, Rock Rapids; L. G. Stevens, Ottumwa; F. B. Allen, Arlington; H. E. Passig, Humboldt; Karl K. Johnson, Osage; James Hunter, Minden; J. D. Easton, Waterloo; S. M. Leach; Adel; C. A. Blossom, Belle Plaine; A. D. Simmons, SECURITY National Bank SIOUX CITY, IOWA C apital, - Surplus and Profits, - . - $250,000.00 - 185,000.00 W. MANLEY, President C. L. WRIGHT, Vice-Pres. T. A. BLACK, Vice-Pres C. N. LUKES, Cashier C. W. BRITTON, Ass’t Cashier April, 1909. TH E NORTHWESTERN Osceola; M. U. Pridewell, Mediapolis, and a number of representatives of local banks. After the business of the meeting was concluded the Waterloo bankers tendered the visitors a fine banquet at “The Ellis.” hollowing are the local committees appointed for the convention: Executive Committee— J. D. Easton, chairman; H. C. Schultz, W. R. Jameson, E. L. Johnson; Ira Rodamar, secretary; W. F. Curtis, treasurer. Hotel and Opera House Committee— J. E. Sedg wick, Edmund Miller, J. O. Trumbauer. Finance Committee— Frank J. Fowler, W. C. Logan, W. F. Curtis. Program Committee— W. W. Miller, Emmons John son, F. J. Eighmey. Reception and Information Committee— F. F. McElhinney, W. F. McGarvey, L. D. Bedford, F. C. Braniger, C. Berry, M. Humphrey, F. P. Hurst, Ira W. Blough, H. W. Wente, J. J. Miller, Ralph Law. Manufacturers’ Committee— F. J. Eighmey, W. W. Marsh, W. B. Nauman, J. W. Rath, H. L. Litchfield, William Galloway. Printing and Advertising— W. R. Jameson, T. N. LaBarre, C. W. Knoop. Entertainment and Social— H. C. Schultz, Dr. F. W. Powers, H. M. Cowles, Geo. E. Lichtv. Carlton Sias E. Coolidge, J. M. Groat, G. N. Garrettson. Publicity Committee— E. L. Johnson, F. J. Eighmey J. D. Easton. ■ >* Badge Committee— Edmund Miller, Geo. N. Garrett son. BANKER 23' AN N U AL STATEM EN T OF TH E PH OEN IX N A TIO N A L BAN K OF N EW YO RK . The Phoenix National issues a unique annual state' ment which makes a very strong showftig for this popular bank. It is issued in detail, handsomely got ten up, cover embossed in gold, and shows the capital and surplus now to be $1,500,000. The object of the statement is not only to show the condition of the bank, but the character and the value of the assets as well, and it certainly is a most convincing document, showing no excess loans, no past due or suspended notes, no notes or assets in litigation. The examining board stated in their report it is their opinion that the assets of the bank are of a larger actual value than the book value. Total resources of the bank at the time of the issuance of the statement February 5th were $12,673,698. Mr. F. E. Marshall is president of the bank and Mr. B. L. Haskins, cashier, and both men are well known to bankers throughout the Northwest, as they have been frequent visitors at state conven tions in Iowa and adjoining states. The bank has a strong board of directors and is in a most flourishing and prosperous condition. Pioneers and Originators in Bank Selling E S P E C I A L L Y E Q U IP P E D and h avin g a large and responsible list o f purchasers for banks every where. W e have a v e ry large list o f E X P E R I E N C E D A P P L IC A N T S capable o f fillin g an y position from P R E S I D E N T to B E G IN N E R . Our business is presided over b y m en who h ave grown up in the ban kin g business with an intim ate know ledge o f every departm ent o f banking, which coupled with years o f practical experience in N E G O T IA T IN G T H E S A L E OF B A N K S should entitle us to the patronage o f those de siring services in our lines. “W E L E A D AN D N E V E R F O L LO W .” v.,K us, about the C O N F ID E N T IA L B A N K E R . THE CHAS. E. WALTERS COMPANY - Council Bluffs, Iow a - - - - - - - - - - - - t y m m p t fy - - - - - - - - - - - I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Capital and Surplus, $4,000,000.00 i Adequately equipped, and with each department under the personal supervision of an officer, w e solicit accounts, confident of rendering satisfactory service. ESTABLISHED 1872 • TH E 24 NORTHWESTERN* April, 1909. BANKER The Commercial National Bank o f W A T E R L O O , IO W A Capital and Surplus $250,000.00 OFFICERS W. W. Miller, E L. Johnson, President Vice-President I H. C. Schultz, | E. W. Miller, Cashier Asst. Cashier DIRECTORS W . W . M iller W a rre n B row n B . L . Johnson J. S. T u tu m F . C. P la tt C. W . Illin g w o rth H . M. R eed J. W . K r a p fe l Geo. E . L ic h ty H . C. S ch u ltz Our facilities for handling the accounts of banks In Iowa are Unexcelled A . J. E d w a rd s YOUR A C C O U N T IS SO LIC ITED Don’t take chances of an unexpected strain on your finances. Incomes melt away before those demons, W h a t T h e y A r e S a y in g expense and extravagance. Begin now to save; how welcome it will be in that needy hour that is apt to come. From their ads appearing in home papers we clip the following arguments CEN TR AL SAVINGS BANK, What Cheer, Iowa. as put forth by local banks in different parts of the state. Do you pay all your bills with cash, and perhaps pay them twice? Do you argue and dispute over the IO W A NATION AL/BANK, Des Moines. T hene are amounts? Do you try to keep all such records in your several reasons why the management of the Iowa Na mind? A checking account with this bank will elim tional Bank and' Des Moines Savings. Bank welcome inate all such troubles. Deposit your money in this small depositors ahd..consider it a matter of good bus bank— pay your bills by check— that is the safest way, iness policy to give equal attention to small and large the modern way of doing business. We keep your accounts. In the first place, most of our large-deposi books for you. tors started as small depositors. We have had the FIRST N A TIO N A L BANK, Thompson, Iowa. Do pleasure of seein-g many accounts grow steadily over a •not borrow money unless you are compelled to by mis „period of years and are glad to say that we have fortune, or unless you may profit thereby; and when helped our customers to increase their business and you do, come and see us. Do not carry large or small deposits. So far as these banks are concerned, it is sums of money, but come and start a check account just as satisfactory to have several small accounts ag with us and you will find it is the most convenient and gregating the same as one larger one, because, al safe way to pay bills. We combine absolute safety though there is three times the bookkeeping involved, with satisfactory service. We give particular atten that is more than offset by the possibilities of develop tion to small accounts. We invite new business as ment of three different accounts, besides the advertis ing value to the banks of three satisfied customers. SEND US YOUR ITEMS ON These banks’ capital, surplus and profits of ov.er $1,300,000, their very complete equipment and strongpersonnel make them the ideal depository for small de positors who expect to be bigger ones. The officers will be glad to talk over banking relations with you at any time and pledge themselves to serve your inter ests faithfully when you intrust your business to us. PR O V ID E N T SAVINGS BANK, Estherville, Iowa. “The difference between the clerk who'spends all of his salary and the clerk who saves part of it is the dif ference— in ten years— between the owner of a bus iness and the man out of a job.”— John Wanamaker. All clerks who are anxious to become the proprietor of Combined Capital & Surplus - $ 265,000.00 a business should consider well the above words Combined Deposits - - - - 1 ,300,000.00 quoted from John Wanamaker. His success was the result of habits of thrift and industry and his opin ion should be worth consideration. All clerks cannot D. T, D E N M E A D ................................................. become “Wanamakers,” but their chances for succers J A S . L. D E N M E A D .... .... .... will be greatly 2’ded if they have a savings account C. C. S T C L A I R with 11s. H. G E R H A R T .... .... ... H .S . LA W R E N C E .................................. W H A T CHEER SAVINGS BANK, What Cheer, Iowa. W hy not decide to secure yourself today One Management against old age, sickness and loss of employment. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M arshalltown , Iowa First National Bank and First Trust & Savings Bank pr es id en t vice p r es id en t cashier ass t as s t cashier cashier April, 1909. TH E NORTHWESTERN BANKER W IN TER FIX TU R ES “ THE QUALITY KIND” H igh Grade B ank F ix tu res a S p e c ia lty . W e are c o n sta n tly fittin g up banks in all parts o f th e c o u n tr y . L et “ W I N T E R ” fit y o u o u t in m o d ern sty le . D O N ’T W A I T until y o u r c o m p e tito r fo r c e s y o u to rem od el. Get “Winter Fixtures” TH E STANDARD FOR QUALITY AND STYLE “ W I N T E R ” Fixtures are Right. W I N T E R w ill treat you right. A sk our C usto mers. Here are a few o f them w e have fitted up: F irs t S ta te B a n k , B re m o n d , T e x a s ; E la n d S ta te B a n k , E la n d . W is ., F a rm e rs S ta te B a n k , R o c k h a m , So. D a k o ta : C offm an , D obson & C o., C h e h a lis , W a sh ., S ta te B a n k o f St. C o u d , S t. C lo u d , W is., C itiz e n s N a tio n a l B a n k , C h illic o th e , M issouri. Write for Catalogue “ 0 9 A A ” M. WINTER LUMBER CO. SH EBO YG AN , W ISCO N SIN Partial V ie w 'o f »Fixtures Made for Pendleton Savings -Bank, Pendleton, Oregon Th e “ High Grade” Fixture Makers S A LE S A G E N TS : R . H . B ird s a ll, H am ilto n B ld g ., P o rtlan d , O r e .; C. A . F au s, 313-323 So . T h ird S t., S t. Joseph , M o.: F e lix P a rso n s, W in d so r B ld g ., D allas, T e x a s ; 0 . B . D icks, M a gazin e C or., Comm on S t., N ew O rlean s, L a . Iva n L. W a rd & Co., 893 A sh b u r y St., Sa n F ra n cisco , Cal. well as old upon our merits for strength and superior facilities. A strong bank can afford liberal treatment. Our past policy and ample resources are our guaran tee for the future. ST A T E SAVINGS BANK, Moulton, Iowa. No class of business requires more careful attention, or insists upon more rigid rules than that of banking. It has al ways been our earnest endeavor to conform to these requirements. Safety first, liberality next. CH ERO KEE ST A T E BANK, Cherokee, Iowa, wel comes and appreciates your business whether large or small and believes its extensive resources developed by nearly twenty years of constant, considerate, con servative accommodations, a splendid endorsement of its most satisfactory service to the people of Cherokee and vicinity. FARM ERS’ ST A T E BANK, Rockwell, Iowa. Men who own automobiles began putting their money in the bank when they were boys and kept at it. You are never too young to begin a good habit. CITIZEN S’ ST A T E BANK, Newton, Iowa. W e’re after you. “You are the individual we require.” The above is intended to attract the attention of individu als who are using the sock instead of the bank for a depository, and who in consequence are receiving no interest on their savings. We pay interest on cer tificates of deposit; also on saving accounts, and would be delighted to have all present “sock bank” patrons call and talk over the “real thing” banking proposition with us. IO W A ST A T E SAVINGS BANK, Creston, Iowa. To every new savings account opened with us this month by any child in Union county under ten years old with a deposit of $1.00 or more, this bank will add another dollar. The only requirements we make is that this dollar may not be withdrawn for ten years, and that at least $1.00 per year be deposited in the account for that period. W O RTH CO U NTY ST A T E BANK, Northwood, Iowa. Marshall Field clerked in a store when he was a boy. He put in the bank enough out of his salary to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis start a small business of his own. Today his establish ment is the finest in the world. His two grandsons will get 400 millions each when they are given their share of his estate. We will pay you 4 per cent interest on the money you put in our bank. GROUP 9 AT CRESTON. The meeting of Group 9 of Iowa Bankers’ Associa tion will be held at Creston on the afternoon of Wed nesday, May 12th. An excellent program is to be given and a large attendance expected. Chairman A. D. Simmons, of Osceola, is doing everything in his power to make the coming meeting one of the best in the history of the group. C. J. W EISER, OF DECORAH, IN TERESTED IN A CHICAGO BAN K MERGER. Chicago, North Dakota and Iowa capitalists put over a bank merger in Chicago last month when all plans were completed for the amalgamation of the Oakland National and the Drexel State Banks, both located at Thirty-ninth street and Cottage Grove avenue. Robert Jones, who until a short time ago was presi dent of the First National Bank at Fargo, N. D., is the moving spirit in the enterprise. With him is asso ciated C. J. Weiser, a prominent Decorah banker. These gentlemen have been ambitious for some time to purchase a Chicago bank. They tried recently to buy one of the-smaller downtown institutions, but the negotiations came to . nothing. Toward the close of 1908 they secured control of the Oakland National and at the annual meeting early in January, Mr. Jones was elected vice-president of that institution. The Oak land alone, was not big enough, however, and Mr. Jones and his friends started out to buy up control of the Drexel State. This they have done and they will put two banks together, under name and charter, and in the building of the Drexel State. The capital of the consolidated bank will be $200,000, the same as the Drexel State has now. Mr. Jones will be president of the new Drexel State. TH E 2Ó ... D I R E C T O R S ... C. F. A L D E N LA F A Y E TTE LAMB G. E . L A M B S . R. S H A M B A U G H T . M. G O B B L E DANIEL LA N G A N L. C . E A S T M A N C . B. M I L L S J . H. I N G W E R S E N T h e officers of this bank are n eve r too b usy to a n s w e r que stio ns o r to reply to letters. It is th e ir aim to m a ke the b an k of real service to its friqnd s and patrons. NORTHWESTERN BANKER J. H. I N G W E R S E N , P resident C. P. A L D E N , L. L A M B , C. B. M IL L S , V ice P residents W . W . C O O K , C ash ier Jl L . BO H N S O N , A ss t. Cashier PEOPLES T R U ST & SAVINGS BANK CLINTON, IOWA Capitai Surplus $300,000.00 235,000.00 April, 1909. W hat W e D o: A c c e p t b ank a cco u n ts and pay Interest on average balances. Pay 4 p e r c e n t Interest on S a v ings A cc o u n ts , c o m p o u n d e d s e m i-a n n u a lly . M a ke collec tio n s as e co n o m ica lly as a n y b ank in Iowa. A c c e p t acco u n ts su b je ct to cheque. An Up-to-date, Conservative, Commercial and Savings Bank that Makes a Specialty of Collections and Bank Accounts Largest Bank in Clinton County DES MOINES NATIONAL NEARING COM PLETION. W e w elco m e an o p p o rtu n ity to serve yo u in a n y d e p a rt m e n t of the b a n k in g business. ther attached through the acquaintance here of Mrs. Ferman, who as Miss Carrie Elwood was a one-time résident. Work on the new Des Moines National Bank Building has reached such a stage that the contractors feel confident in predicting that the building will be ready for occupancy by May 1st. Plasterers are now at work and with favorable dry ing weather the work of laying the tile floors and in stalling the marble and mahogany fixtures will be be gun in about two weeks. The large steel vaults are already in place and the fixtures for the safety deposit vaults have been shipped and are expected to arrive any day. All of the exterior work with the exception of point ing up and washing the building has been completed. The work of pointing up consists of filling in the crev ices between the blocks with plaster. The entire building will be washed as carefully as a window. The prism glass sidewalks have been installed and the walks are now open to pedestrians. The new heating plant is. already in working order and is being used in drying the plaster. The- bank is built of pure white terra cotta. It is claimed for this that- it will not retain the effects of smoke and dirt. Mr. H. F. McAdow relates that terra cotta is manufactured from buff clay, which will stand as much heat as fire clay. It is burned at a tempera ture of about 2,100 degrees. It stands the weather and the elements for an indefinite time. Terra cotta is used extensively for building in New Orleans, San Fran cisco, Seattle, Boston, Mobile and other cities. Enamel terra cotta can be made almost any color. The bankers of Keokuk met recently at Sigourney in annual convention and perfected an organization to be known as the Keokuk County Bankers’ Association, A large representation was present, of cashiers and directors of the different banks of the county. They met in the Knights of Pythias lodge room. In the fore noon a temporary organization was effected, after which they repaired to the Merchants’ Hotel, where Landlord White served them with an elegant luncheon. At 2 o’clock they met again and matters pertaining to general banking were discussed. The most important feature decided upon was that after March 1st all banks of the county would accept time deposits on cer tificates issued for six or twelve months and that they pay interest for the time specified only in the cer tificates. A permanent county organization was ef fected. The officers elected for the ensuing year are J. R. Mackey, of Sigourney, president; H. C. Lynn, of Hedrick, secretary-treasurer, and an executive com mittee composed of five members was elected as fol low s: J. L. Mitchell, of What Cheer; John Randolph, of Keota; A. F. Bridger, of Richland; J. R. Dunn, of Delta, and Frank Snakenberg, of Sigourney. Among those in attendance were the following: J. T. Brooks, Hedrick; J. L. Mitchell, What Cheer; Wm. HONOR IN HIS “OWN COUNTRY.” C i t y National Bank The Mt. Vernon Hawkeye, published in the town where he used to live, has this to say of Kent C. Ferman: “The not few friends and acquaintances among the readers of this paper of Kent C. Ferman, a former student at the college and brother of Mrs. Fred A. Bauman, will be interested in learning that he is filling the position of cashier of the Cedar Rapids National Bank, to which he was promoted a little over a year ago, to the eminent satisfaction of the board of direc tors of that institution who recently tendered him a substantial increase of salary. Local interest is fur https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ORGANIZE A COUNTY ASSOCIATION. TH E OF C LIN TO N , IOWA Capital, Surplus and Promts ............ . .$200,000.00 Deposits .......................................... $2,150,000.00 O F F IE R S : A. C . Smith, President C . M Curtis, Vice-President A. C. Smith, Cashier Accounts of Banks and Bankers received on most favorable terms. Correspondence Tnvited. April, 1909. THE NORTHWESTERN BANKER 27 THE MERCHANTS’ NATIONAL BANK of CEDAR RAPIDS, IOWA Capital Surplus . . . . $200,000 200,000 OFFICERS JOHN T. H A M I L T O N , President P. C. FRI CK, V i c e - P r e s i d e n t J A M E S E. H A M I L T O N , V i c e - P r e s i d e n t J O H N S. B R O E K S M I T , C a s h i e r E D WI N H. F U R R O W , A s s ’ t. C a s h i e r The L iv e , Commercial Bank of Cedar Rapids C. Windett, What Cheer; W. T. Stoutner, Keota; C. L. Dean, Hedrick; A. W. Kadel, Keswick; John M. Vankirk, Kinross; Neri Ogden, Martinsburg; J. G. Ranous, Keota; Jas. Wilson, Hedrick; A. C. Striegel, Harper; C. L. Jarvis, Webster; Russell Jarvis, Keswick; T. L. Goeldner, Webster; P. P. Peiffer, Harper; J. P. Besser, Harper; A: F. Bridger, Richland; D. D. Crone, Keota; W. F. McCreery, Pekin; J. A. Dulin, Webster; H. C. Lynn, Hedrick; Jno. Randolph, Keota; O. H. Cuddy, Hedrick; Wm. Goeldner, Harper; G. M. Pauli, What Cheer; J. R. Dunn, Delta; EarL Ogden, Martinsburg; Rae Dean, North English; F. H. Tinsley, Hedrick; E. D. Baird, North English; C. G. Johnston, F. L. Goeldner, D. Snakenberg, E. E. Phelps,, L. A. Funk, C. C. Williamson, F. D. Snakenberg, C. C. Laffer, S. W. Richardson, K. E. Willcockson, G. E. Kleinschmidt, Thos. Kelly, Edwin Franken, H. G. Brown, J. R. Mackey, all of Sigourney. --------------------------N E A R LY $18,000,000 INCREASE IN DEPOSITS. The composite statement of the condition of state and savings banks and trust companies in Iowa, as compiled by Chief Clerk Frank E. Roberts, of the state banking department, shows an increase in the deposits between November 23, 1908, and February 20, 1909, the dates of the two last statements, of $17,946,609.55. Mr. Roberts has just finished making up his figures from the statements made in response to Auditor Bleakley’s call. Since November 23, 1908, eighteen new banks have been established in Iowa, and during the year closing February 20th, there were thirty- eight additions. The increase in capital stock since November 23d amounted to $480,000. The consolidated statements for all the state and savings banks and trust companies in the state, at the close of business February 20th, follows: Assets. Bills receivable ......................................$202,792,554.55 Gold coin ................................ ................ 2,040,852.59 Silver c o in ............................................... 787,480.84 Legal tender, National bank notes, etc. 5,628,351.06 Credits subject to sight draft................. 44,644,550.38 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Overdrafts . . . . ............................... Real and personal property.........— 2,516,286.12 7,596,045.89 -----------------T o t a l................... ............................$266,006,122.00 Liabilities. Capital sto c k ........................................ .$ 30,036,300.00 Due depositors ..................................... 223,168,529.34 Due banks and others .................... 1,139,422.29 Surplus ............................... 6,156,745.30 Undivided profits..................................... 5,505,125.07 . — --------------T o t a l.............................. *............... $266,006,122.00 The following table shows the changes since the last previous report, on November 23, 1908: Assets. Bills receivable— increase ......................$ 5,355,641.06 Gold coin— decrease ........................... 45,206.81 Silver coin— increase ............................. 30,558.82 Legal tender— increase .......................... 615,008.27 Credits subject to sight draft— increase 12,250,087.16 Overdrafts— increase ............................. 44,014.90 Real and personal property— decrease. 58,238.25 ------------------Total assets— increase....................$ 18,191,865.72 Liabilities. Capital stock— increase ..........................$ 480,000.00 Due depositors— increase ................ 17,946,609.55 Due banks and others— increase. 86,667.01 Surplus— increase ..................... 192,265.08 Undivided profits— decrease. 51:3,675.92 -----------------Total liabilities— increase.............. $ 18,191,865.72 ,Ne| increase in number of banks since last report............. ............................ 18 Net increase in number of banks since Feb. 14, 1908.................................. .. 38 Increase in deposits since Nov. 23, 1908. 17,946,609.55 Average reserve in all banks Feb. 20, 1909 ............... ....................................... 23.79 per cent --------------------------Never hunt trouble, but when you meet it put up the fight of your life. 28 TH E NORTHWESTERN The Northwestern Banker BANKER April, 1909 which had been misappropriated was covered-by notes to which the names of well-to-do farmers had been PUBLISHED MONTHLY AT 402-404 CROCKER BUILDING BY forged, and .these notes passed upon as “ resources” The Northwestern Banker Publishing Company by the examiner, who had no means of knowing as to D E S M O IN E S, IO W A their value. EMERSON DE P U Y .................................... Manager It is to overcome this weak spot in the present sys «‘ A /~i A C U TÍ? Tí ’ Q r t l T T r i f ” For $2.00 is all that is required to secure the tem if possible that the comptroller of the currency A. C A O n i m v a c n t c i v monthly visits of the Northwestern Banker for an entire year. Each issue contains from 56 to 64 pages of mighty interesting matter pertaining has decided to put more responsibility upon the direc to banks and banking interests in the territory covered by the magazine. ii/ATTr» /" '/'v o r> r c D r \ \ T m 7 M T C ’’ Every bank in the Northwest is invited to a tors, and intends to have them become something LM JK C.UKK.Ii/&rUJM JL!/XN 1 2 » place on this list. Send us items of local interest, tell us about your bank and its growth, prospects, etc., also any other financial news more than mere “figureheads” in the management of of interest to bankers in your section. We are always glad to hear from our friends. the bank’s affairs. “ S T P H T F I R A F T 'S ” We a' ways carry a large “ Reserve” of good will and O lV jrx A U J S .r\.V A o additional service, and will promptly honor drafts made upon In a booklet issued recently entitled, “ Duties, Pow same by any bank. This department is for your special benefit. It may be made of very great benefit to your bank. Do not fail to avail yourself of its privileges. ers and Liabilities of Bank Directors,” we note the h \ y~rr p a d tM C II A T T C D ” Our columns are a clearing house for all our v iL I/A IU iN v jn U U o L readers. Express your views on any topic of in following: terest to the banking fraternity and submit same for publication. You do not have to agree with us, or with anycae else. We learn things by an interchange of ideas, and people with “Directors of a national bank are not expected to whom we disagree oftei prove valuable teachers. We shall be glad to hear from you. watch the routine of every day’s business, but they “ lSTO P R O T F S F ” Has ever been offered to the statement that the field covered by IN ATIVAN A E/O A Northwestern Banker is the money producing section of the should have a general knowledge of the manner in American continent, ricn in hogs, cattle, corn, etc., and dotted with thousands of prosperous banks, all doing a good business, and the majority of them are readers of “ The Northwestern.” which the bank’s business is conducted and upon what securities its large lines of credit are given, and. gen “ SU R PL U S A N D U N D IV ID E D P R O F IT S ” K H L se^ b S K whose advertisements appear regularly in the columns of this magazine. Full information as erally know of and give direction to its important and to rates and our special service, will be promptly furnished on application. Your business general affairs. solicited and appreciated. The “ Banker” has been fourteen years in its present field. /" it A C C 1U A T T D D >> This journal is entered as second class “It is incumbent upon the directors of a national L L A S S JYIA I 1 L K . matter at the Des Moines postoffice. This bank in the exercise of ordinary prudence, and as a is done in order to conform to the postal laws; everything pertaining to the journal, save this entry, being strictly first class. part of their duty of general supervision, to cause an examination of the condition and resources of the A P R IL, 1 9 0 9 bank to be made with reasonable frequency. “A director should inform himself as fully as pos sible from such evidence as he can obtain, especially by L ocatin g M oney w ith an X -R a y A well-known Des Moines firm manufacturing observation within and outside of the bank: First, that the executive officers are trustworthy and compe X-Ray machines recently received a letter asking if tent and that the several employes of the bank are of their machines would “see down in the ground two or good character (this is seen in their general habits and three feet.” The writer then explained that some time social relations) ; second, as to the business methods ago his father buried sòme money, but they had been and the accounts of the bank, and have frequent ex unable to locate it, and thought the X-Ray machine aminations made by a committee of the board, of the cash and the books, also of collaterals and other valu might help. If people would use the banks for the pur ables ; third, he should scrutinize carefully the paper pose of depositing their money it could be located discounted, both as to the security and the amount of loans, and see that all investments of funds are rea when they want it without the use of an X-Ray. It seems to take a long time to learn some things, sonably safe and only such as a commercial bank but we are getting there slowly, and the present gener should make.” A daily meeting of the directors, usually at the noon ation of bankers may console themselves with the hour, is the regular thing in many of the larger and thought that when they have been succeeded in bus more important banks of the country. While this iness by their great-grandchildren, perhaps, then every might not be possible or necessary in the smaller body will use the banks as depositories. banks, the comptroller evidently thinks that the num ber of the directors’ meetings may be increased with Bank D irecto rs M u st A ssu m e M ore profit to the bank. Evidently the day has gone by R esponsibility when the “annual directors’ meeting” will suffice. It has been conceded for some time that the weak More attention to the affairs of the bank is being de spot in our present plan of bank examinations has been manded, and no one questions the advantage bound that the examiner knew little or nothing of local con to accrue to the bank because of the demands the ditions, and could not, therefore, judge with any degree comptroller is making upon directors, and they are of accuracy as to the quality of the loans made by the responding in a manner which indicates that they are bank. in hearty sympathy with any plan which increases the It will be remembered that when the Grinned safety and efficiency of the banks with which they are bank, with which the Spencers were connected, went connected. under several years ago, conditions as they existed were only revealed following investigations naturali)' C loser O ragan ization made into the affairs of the bank after they had com mitted suicide. No doubt the plan of county organizations as inau •Then it was discovered that thousands of dollars gurated by Keokuk county recently will meet with https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis April, 1909. TH E NORTHWESTERN favor in many sections of the state and lead to the formation of many such organizations. Our present plan of group formation has been so successful and effective that many bankers think the county plan could be added with most satisfactory re sults. This closer organization would increase the size and enthusiasm of the group meetings which in turn would boost state association matters in such a manner as would be most gratifying to all concerned. Then those banks which have not joined and which Secretary Dinwiddie is so anxious to welcome to the fold, might be induced to come in, because some neigh bor who caught the proper spirit might give them a warm personal invitation which they felt they could not resist. O ld est Bank P residen t in the United S ta te s The following item is respectfully commended to the careful consideration of Dr. Osier,' the physician who thinks that when a man reaches sixty, he should be chloroformed, embalmed and placed with the mum mies : ‘‘Galena believes it has the oldest bank president in the United States, and it is not quite sure but it has that distinction twice over. When the directors of the Galena National Bank last week elected John Ross president to begin his twenty-first year in that capac ity, they did so mindful of the fact that the venerable head of the institution was ninety-three years of age, but his election was by no means complimentary. The flourishing little bank has his counsel and advice every working day of the year, and would deem his retire ment a much greater loss than the withdrawal of any of its younger officials. ‘‘Mr. Ross was born in South Shields county, Dur ham, England. He has been a resident of Galena since 1838, and is well known in Illinois. He became a director of the Galena National Bank in 1880, and was elected its president in 1888. On the same day that this monogenarian financier was re-elected president of the Galena National Bank, John H. Heilman was re-elected president of the Mer chants’ National, the one other bank in the town. Mr. Heilman is eighty-five years of age, and was first elected president of that institution after he had passed his eightieth year, succeeding in that capacity Thomas Foster, who died-at eighty-seven.” It is most difficult to create a class and place all men in it. That is why Dr. Osier’s age limit to the useful ness of man breaks down so often. Some men are old at sixty, no one denies that, but to the average man of good health and correct habits of life, sixty should be the threshold of twenty years more of good active servive. A man is only as old as he thinks” and a woman as old as she looks, but whatever her age may be she never looks it— bless her. Thinking we are old, makes us so. Years, wrinkles, gray hairs, these are not indications of age, nor can https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKER 29 these things make any man old. If we allow our hearts to grow old, then are we old indeed, even though our locks may still be of “ raven hue.” “Eighty years young” as Oliver Wendell Holmes expressed it, is the way to look at it, and when viewed from that standpoint there is no such thing as “old age.” B ankers Planning to S a v e W a g e E a rn ers fro m L oan Sh arks In every city there is a large class of people, honest and industrious, who because of their lack of financial standing are the constant prey of the loan sharks who institute and pursue a plan of systematic robbery which would put Shylock to shame. These sharks are without compassion and the fact that through sickness or death of loved ones a man may have gotten behind on expenses, excites no pity in their breasts. If they loan him money he is practically doomed to a life of slavery, as their plan is, that once in their clutches the victim stays there and the “ 10 per cent a month” is re lentlessly extorted. Plow to assist worthy wage earners financially and yet keep the matter on a business basis for all con cerned is a problem the solution of which has called for much thought on the part of financial men. For the most part these people are in no sense ob jects of charity, and the majority of them are honest, industrious and will meet their obligations, but of course cannot put up the kind of “security” the bank demands. In many cities a plan is on foot looking to the solu tion of this problem which causes so much needless suffering because of “man’s inhumanity to man.” Min neapolis bankers have been giving some attention to this matter and the following article recently appeared in the News of that City: “The possibility of the establishment of an institu tion to take the place now occupied by the salary and chattel loan sharks is being discussed by Minneapolis bankers. “One banker said immediate action might be taken if a number of representative citizens will take up the discussion of the problem with the bankers of the city. “ ‘It is a new proposition to western bankers,’ said Frank E. Holton, cashier of the Northwestern National Bank, ‘but that does not prove it impossible. I think some such plan could be worked out in Minneapolis and I would be glad to see such a move started. To my mind the best possible way to handle the proposition would be the establishment of an institu tion separate from the banks. The stock could be owned by the banks and loans made on such security as could be given, the profits from the enterprise should be pro-rated among the banks in proportion to the amount invested. Small loans could be made on 8 per cent interest with profit to the banks. “ ‘Incidentally,’ said Mr. Holton, ‘I think such a plan would help to solve the charity problem of the city. TH E 30 NORTHWESTERN BANKER April, 1909. THE DES MOINES NATIONAL BANK DES MOINES, IOWA The policy of this bank is to cultivate helpful business relations with its correspondents and to render at all times the service which their needs demand and which our equipment insures. An experience extending over a quarter of a century in catering to such needs has provided a broad under standing of the requirements in this field. We cordially invite a share of your business. F e b ru a ry 5 t h , 1 9 0 9 C a ll Resources (over) $ 5 ,0 0 0 ,0 0 0 ,0 0 Arthur Reynolds, President John H. Blair, Vlce-Pres. Small loans could be made to worthy poor people. In most cases these would be paid, but, even if they were not paid, the small loss could be set against the profits on larger loans made on the same basis.’ “ ‘This plan was tried in Chicago,’ said George F. Orde, cashier of the First National Bank, ‘with vary ing success. It is in its nature philanthropic. There are a great many persons to whom loans should not be made. There are others who have good reasons for making small loans, but who have little security. I think such a scheme is possible. The bankers will be glad to discuss it with representative business men.' ” A . J . Zw art, Cashier C. A . Barr, Asst. Cash. “ All these qualities made it possible for him to achieve excellent results. His work in the bank is distinguished by the masterful handling of the intricate problems of the foreign exchange business. He acquired his science as he acquired everything else, by dint of thorough-going study and indefatigable application, supported by an un usual intelligence. In the division of work, which ap plies a just appreciation of the ability of his associates and subordinates, he showed executive ability of a high order. The material results of the department FRED I. KENT, VICE-PRESIDENT BANKERS’ TRUST CO., NEW YORK. Mr. Kent was recently called from an important posi tion with the First National Bank of Chicago to the vicepresidency of the Bankers’ Trust Company, New York, and was “called” because he was ready and by long training and faithful service was well equipped for the responsibilities of his new position. Mr. Kent has a habit of endearing himself to all his business associates, and one of them who had been closely connected with him for years at the First National wrote the following “Appreciation” of him at the time he sev ered his connection with that institution to go with the Bankers’ Trust Company: “Frederick I. Kent entered the employ of the First Na tional Bank at the age of seventeen; was elected assistant manager of the foreign exchange department at the age of thirty-four; advanced to the position of manager at the age of thirty-five, and now, at the age of thirty-nine he is occupying a vice-president’s chair in the Bankers’ Trust Company of New York, one of the most important trust companies of that great city. “The writer was privileged in being very closely asso ciated with Mr. Kent for a number of years, and was in position to study the man at close range. Mr. Kent com bines qualities of mind and character of the highest order. In general culture there are few who are his equal. He is a man of wide reading and a close observer, and as such has gathered a large fund of knowledge in the various branches of human endeavor. In addition he is an ac complished musician and a man of rare tact and judg ment. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Fred I. Kent, V ice Pres. Bankers’ Trust G o., N ew York under his charge speak for themselves. His personal qualities endeared.him to all who came in contact with him. "Everyone acquainted with the history of the Chicago Chapter of the American Institute of Banking from its incipiency is familiar with the fact that Mr. Kent showed remarkable executive ability in the organization and administration of that body. The manner in which the foundation of this work was laid and which led to the present splendid organization is a monument to Mr. Kent’s efforts. This statement is no in wise intended to April, 1909. THE NORTHWESTERN BANKER 31 IOWA NATIONAL BANK FLEMING BUILDING, DES MOINES, IOWA STATEMENT FEB. 5, 1909 RESO U RCES. Loans and Discounts...................... $4,838,406.69 Over Drafts ............................................... 12,274.30 U. S. and Other Bonds........................... 979,800.63 Furniture and Fixtures....... ..................... 18,000.00 Cash and Due from Banks....................... 2,870,413.81 $8,718,895.43 L IA B IL IT IE S . Capital Stock ............................................$1,000,000.00 Surplus ...................................................... 125,000.00 Profits __ '................................................. 25,958.62 461,800.00 Circulation- .................................... Dividends Unpaid ..................................... 480.00 Deposits .................................................... 7,105,656.81 $8,718,895.43 Largest N ational Bank in Iowa. Makes a speci alty of farm loans for its correspondents. W rite for rates. Officers HOMER A. MILLER, Pres. detract from the work of his associates, who were mem bers of the first executive committee, but no one will acknowledge more readily than they, that a larger per centage of the credit is due Mr. Kent. This applies with equal force to the national organization of which he was the first president. “He was kind and sympathetic in his intercourse with the force of his department. He was as accessible to the youngest employe as to those in the highest positions, and everyone of the staff feels his departure as a personal loss. He carries with him the good wishes of all, that in his new surroundings he will be crowned with suc cess, and that his future career will be a bright and pros perous one.” MRS. HOMER MILLER IMPROVING. \ Mr. Homer Miller, president of the Iowa National Bank, Des Moines, has just returned from south Texas, where he went some weeks ago with Mrs. Miller in the hope that the health of the latter might be im proved by the change. Mr. Miller is back at his desk for a few days and reports Mrs. Miller as very much improved and the outlook very favorable for the fu ture. He will return to Texas in a few days and re main with Mrs. Miller until climatic conditions in Iowa warrant a return here. A host of friends through out the state rejoice in the good news regarding'Mrs. Miller’s recovery, she having suffered seriously before going South with an attack of pneumonia. DR. J. W. WATZEK NEW DIRECTOR ON THE ■BOARD AT SCOTT COUNTY SAVINGS BANK, DAVENPORT. Dr. J. W. Watzek has been elected a member of the board of directors of the Scott County Savings Bank. He succeeds A. P. Doe, who has resigned. Dr. Watzek will prove a valuable acquisition to the board of direc tors of the Scott County Savings Bank. He is a suc cessful business and professional man, recognized for his keen insight in business affairs, in which he stands for the progressive as well as the conservative element. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ¿8 H. S. BUTLER, Vice Pres. H. T. BLACKBURN, Cashier. IOWA NEWS AND NOTES Geo. Walters will rebuild his Harlan bank. * Parley Sheldon will erect a building for his bank at Ames. Oliver Anderson was elected president of the Con way Savings Bank. The Bank of Oelwein is having a fine job of inter ior decorating done. H. D. Haugen has resigned his position as cashier in the bank at Kensett. The Farmers’ Savings Bank, Liberty Center, will erect a fireproof building. The Farmers Bank, Liberty Center, let the contract for its new building. The German Savings Bank of Eldridge has opened for business. W. B. Brown has resigned his position in the Ger man Bank of Carroll. Wm. Hamilton was elected president of the Iowa Savings Bank, Stratford. The Templeton Bank has been sold and possession was given the first of March. Notice has been given that the Iowa State Bank of Bonaparte has been dissolved. Geo. H. Humphreys has been elected cashier of the Waterloo Savings Bank. Vernon H. Wilson has been elected cashier of the Grundy County and Grundy Savings Bank. O. B. Chapin resigned as president of the Citizens’ Bank, Union, H. C. Chapin, succeeding. TH E 32 NORTHWESTERN OFFICERS April, 1909. BANKER Capital Stock - $ 100, 000.00 Surplus - - - 90,000.00 Undivided Profits - 2,536.41 jg ? A. P. DOE, President J. D. BROCKMANN, Vice-President Deposits ■ $1,430,015.09 J. E. BURMEISTER, V. P. and Cashier F. B. YETTER, Assistant Cashier. We invite your business. The Security Trust & Savings Bank, Charles City, increased its capital stock to $100,000. W. G. McCleary resigned as cashier of the Kellerton State Bank, R. G. Newton succeeding. W. J. Mullin, cashier of the Aredale Bank, resigns. Geo. Matterson has charge for the present. Peter Fish, cashier of the Plymouth County Bank, Oyens, Iowa, has resigned, and will be succeeded by C. M. Freyman. Mr. William J. Sievers, cashier of the Alta State Bank, was married recently to Miss Lucetta Cameron. John Laughlin was elected president of the newly organized Farmers’ State Bank of Burlington. Findley Anderson, cashier of the Citizens’ Bank of Colfax, and Miss Ethel Whittiker were married re cently. G. A. Grossman becomes president of the State Bank, Waverly, succeeding Geo. P. Ellis, deceased. * The banks of Grundy Center have on deposit $840,000. This is the largest amount they have ever had. W. L. Tipton resigned as cashier of the Farmers & Merchants’ Bank, Aurora, W ill Elliott succeeding. The Rippey Savings Bank has just installed one of the latest and most up-to-date Burroughs adding ma chines. All the old officers of the Farmers and Merchants Bank, "Audubon, were re-elected for another year. F ixtu res for Sale Owing to remodeling aud alteration of present banking room, the following bank fixtures, all in first-class condi tion are offered for sale at an extremely low pjice. 12 H an d C a rv e d M a h oga n y T e lle r ’ s C ages, Com p le te w ith orn am en tal g r ill w o rk , gla ss, etc. 1 M a h oga n y C oun ter, 25 feet, 4 in ch es lo n g and 8 feet, 8 in ch es h igh , in clu d in g m arb le base. 1 M a h o ga n y C oun ter, 13 fe e t lon g an d 3 fe e t h igh , bro u gh t to sam e h eig h t as one above m en tion ed b y o rn am en tal g r ill an d b ra ss ra il. M a h o ga n y an d G la ss P a rtitio n s fo r p riv a te offices, m easu rin g 40 fe e t in len gth an d 8 fe e t in h eigh t, w ith doors and w in d o w s co n tain in g fro ste d g la s s and e la b o ra te ly ca rv ed door-w ays. 3 C u sto m er’ s C h eck D e sk s fo r lo b b y , one 15 fe e t an d tw o 6 fe e t in len gth . Photographs of all fixtures will be sent upon application and present owner will have fixtures carefully packed by experienced furniture men and crated for shipping. Address National Bank of the Republic, CHICAGO, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ILL. T. L. White, who has been cashier of the New Lon don National Bank for the past two years, has resigned his position. The Iowa National Bank, Des Moines, has been ap proved as reserve agent for the First National Bank, Deep River. Frank W. Davis, vice-president, becomes cashier of the Keokuk Savings Bank. Howard L. Gonnable suc ceeds Mr. Davis. Thore Kolstad, assistant cashier in the bank at Hayfield, fell in jumping from a train, and dislocated his shoulder.The Merchants’ National' Bank, Cedar Rapids, has been approved as reserve agent for the First National Bank, Pocahontas. The farmers held a meeting recently at Alta and have decided to organize the Farmers’ State Bank with a capital of $25,000. The Commercial National Bank, Cedar Rapids, has been approved as reserve agent for the Citizens’ Na tional Bank, Knoxville. The Capital National Bank, St. Paul, Minn., has been approved as reserve agent for the Northwestern National Bank, Sioux City. Chas. Freymann has assumed management of the Plymouth County Bank at Oyens. He takes the place of Mr, Fisch, resigned.. April, 1909. THE NORTHWESTERN BANKER Will Hanno, who has been employed in the Savings The Des Moines National Bank, Des Moines, Iowa, has been approved as reserve agent for the First Na Bank of Remsen for the past three years, was obliged to give up his position 011 account of ill health. tional Bank, Council Bluffs. John F. Olson, of Forest City, bank.examiner, went Clyde Inman has accepted a position with the Keo kuk Savings Bank, taking the position of Edward through the Franklin County and State Savings Banks, of Hampton, recently and passed them up as all “O. Walch who has been promoted. K.” F. P. Berger has accepted a position in the Ger The volume of business transacted at the People’s man Bank of Carroll County as cashier and will move Savings Bank of Grand Mound on March 1st was by his family to Carroll. far the largest ever done in any one day in the history The directors of the Stockport Savings Bank have of the bank. declared a 6 per cent dividend on the old stock and Mr. E. H. Furrow, assistant cashier, and Mark J. 4 per cent on the new. Myers, teller, of the Merchants’ National Bank, Cedar The Northwestern National Bank, Minneapolis, Rapids, attended the group meeting held in Des Minn., has been approved as reserve agent for the Moines on March nth. First National Bank, Hawarden. At a recent meeting of the Conway Savings Bank Wm. L. Hamilton, who has been bookkeeper at the a change was made in the officiary. Oliver Anderson, Iowa Savings Bank, Ft. Dodge, has been elected cash of Bedford, was elected president and G. W. Nichol ier of the Bank of Stratford. son, vice-president. The National Bank of the Republic, Chicago, 111., The deposits in the four national banks of Des has been approved as reserve agent for the Commer Moines at the time of the recent statement, amounted cial National Bank, Cedar Rapids. to $15,842,229, a gain of nearly two million dollars The Farmers’ Savings Bank, Templeton, incorpor over the November statements. ates with a capital of $10,000. A. Stephenson, presi The first few days of March saw the Jasper County dent; Peter Neu, vice-president; M. J. Daeges, cashier. Bank of Newton in a more flourishing condition than The stockholders of the Delphi Savings Bank held a ever before in its history, the deposits on those days meeting recently and voted to increase the capital passing the top notch. stock from $10,000 to $20,000. The German Savings Bank, Davenport, has declared Mr. H. O. Haugen, who has been cashier in the bank a quarterly cash dividend of 4 per cent, payable April at Kensett for several years, has resigned and will 1st. The surplus of the bank was also increased from move to the state of Washington. $300,000 to $450,000. Three alleged bank robbers, who on January 18th The Danbury State Bank, whose articles of incor poration expired March 1st, has been re-organized and are said to have broken into the bank at Hadan, Neb., the capital stock increased to $40,000. and dynamited the safe, securing $1,039 cash, were The Farmers & Merchants’ Bank of Milton is offer arrested at Sioux City. ing a prize to the boy or girl who will deposit the most At the annual meeting of the officers of the State money in that bank before September 1st. Bank, Fayette, the entire board of directors and officH. C. McCartney, of Oakes, N. D., é* becomes president of the Citizens National Bank at Williston, N. D.; Ii. J. Cooper, vice-president; W. S. Davidson, cashier. The State Savings Bank, Minot, N. D., capital, $35,000, will soon be Many a banker freely admits that his success in transacting his business in a started. Grant S. Youmans, presi prompt, accurate and thoroughly satisfactory manner depends to a very large degree upon dent; W. M. Youmans, vice-presi the use of the B U R R O U G H S Adding Machine. System is everything in the bank dent; Geo. E. Youmans, cashier. Let me tell You Why ing business, but no system will work out properly that depends upon fallible human brains and hands when mechanical accuracy can be substituted at a less cost. You will find in the TIME SAVER O nly % the tim e isreq u ired to a p p ly th a t th e “ fla t” p ap er o n e s t a k e— Hence Cheaper. Made of heavy pressed paper with self-seal ing flap. H old a ll co in s s e c u r e ly —ca n 't s lip o ut th e ends, o r u n ro ll. K e e p sh ap e in d ry o r d am p clim ates. MilllonsUsed Annually. 9 sizes; $2 p e r M. b o xed . $ 1 .5 0 p e r M. i n 10,000 lo ts. n n i M D A P C ____ O u r ’s d o n ’t r ip -b e c a u s e double Is U lli DMUO stitched. W e m a k e tw e n ty sizes. 6-HOLE COIN CARDS, lik e cu t, 10c d o z .; 100, p ostpaid , 75c; 1,000 $3; a n y printing:, little m ore. 1-HOLE, a n y printing:. $3 M; le s s fo r m o r e . D E T R O I T C O IN W R A P P E R CO. D etro it, M ich . FRASER 15 Jo h n R. St., Digitized for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Burroughs A dding and Listing Machine* a money-saver and time-saver of the most valuable character. Its construction is such that it may be used to take off balances, figure interest on trial balances, balance cash, take off depositors’ statements, balance customers’ pass books, make the trial balance sheet—and do other things that you would hardly expect a mere machine to do. _ . And the clean, quick, accurate work it does, will be a continual source of delight to you. _ . All details can, of course, not be explained in an advertisement like this, but a practical demonstration awaits you. Just say theword and we will,without obligation to you, give you a chance to try the BURROUGHS in your own bank free of cost. There are over 80,000 BURROUGHS in use Burroughs A dding Machine Company Burroughs Block, Detroit, Michigan, U. S. A. The Solution O /* ' An Economic SYSTEM European Address — 65 High Holborn, London,W C ., England 34 TH E NORTHWESTERN BANKER April, 1909. Davenport Savings Bank D A V E N P O R T , I OW A Officers JO H N F. D O W , President LO U IS H A L L E R , V ice President H E N R Y C . S T R U C K , Cashier O T T O L. L A D E N B E R G E R , Teller Capital Undivided Profits Deposits :: A. Burdick Louis Haller ers was re-elected. iness was reported. A. Steffen :: $ 300,000.00 - 270,009.99 3,843,385.30 D I R E C T O R S Theo. Krabbenhoeft J. F. Dow A -very satisfactory year’s bus The board of directors of the Scott County Savings Bank, Davenport, have added $25,000 to the surplus of the bank. This makes the surplus now $200,000, while the capital stock is $250,000. Notice has been given that at a regular meeting of the stockholders of the Milford Savings Bank it was voted to liquidate that bank. :: H Kohrs 4 Per C ent Interest Paid on D e posits: M oney Loaned on Real Estate Security in the State of Iowa. :: W. H. Wilson H. C. Struck Jno. W. Gilchrist The First State Savings Bank, Ionia, has been or ganized with a capital stock of $20,000. President, A. H. Shaffer; vice-president, W. G. Shaffer; cashier, Otto Koerth; directors, H. H. Shaffer and A. H. Shaf fer. The Bettendorf Savings Bank has been organized with a capital of $25,000. The officers are: President, P. W. Reek; vice-president, Frank C. Liebengartner; cashier, John Brownlee; assistant cashier, Ed Dough erty. G. S. Needham, cashier of the Early State Bank, Applications to organize the First National Bank of Early, Iowa, and Mrs. Lottie E. Lane, of Sac City, Conrad have been approved. Capital, $25,000. Those were married at Carroll recently. Both are prominent interested are T. L. Evans, Beaman, Iowa; Martin in the communities in which they have resided. Mee, Grant Hurlbutt, A. B. Reynolds and M. V. B. Evans. When the present owners of the Farmers’ Savings f ----------■N Bank, Massena, took charge a ’year ago, the deposits were only $83,000. On February 20, 1909, the deposits were $i53>575-3°> which shows a good gain and a healthy business. t ~\ f to 6 l-2per A. A. Aikins has been elected a director of the Citi zens’ Savings Bank, West Liberty, in place of the late C. E. Buckman. Mr. Aikins has disposed of his stock in other banks and has all his interests in the Citizens’. (JW e offer gilt-edged First A. V. Scott, former cashier of the Creston National Mortgages on Iowa, Minne Bank, recently made a brief visit in Creston with rela sota and North Dakota farms tives and friends, being enroute to his home in Idaho netting the investor 5 to 6 1-2 Falls, Idaho, from New York City, where he attended per cent. Our loans are care to some business interests. fully selected on conservative Plans are being drawn for a new bank building at valuations. Each farm per Little Rock. The building will be twenty-five by sixty sonally inspected before loan feet, two stories high and basement, built of brick is made. Can furnish loans with stone trimmings. More room is needed on ac count of increased business. in amounts from $300 up ward. Interest and principle The directors of the New London National and New collected and remitted to in London Savings Bank elected O. H. Tyner as cashier of each bank in place of T. L. White, who resigned, vestor without expense. and Jesse Walker was elected to fill the place of Mr. ^¡Correspondence and per Tyner as assistant cashier. sonal call invited. Articles of incorporation have been filed for the organization of the Alta State Bank with a capital stock of $25,000. The officers are: President, W. P. Miller, of Aurelia; vice-president, G. F. Tincknell, of Crocker Building A lta ; cashier, W. J. Sievers, of Alta. Des Moines, Iowa Articles of incorporations, have been filed for the organization of the Central Savings Bank, Waterloo. First Mortgage ^ 2 th5 e barm Loans G. S G ILBER TSO N v_______ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J April, 1909. -------------------- —---------- TH E NORTH W E S T E R N B A N K E R 35 FRANCIS B. REEVES, RICHARD.Li AUSTIN, Vice-President. JOSEPH WAYNE, JR President. THEO. E. W IEDERSHEIM, 2nd Vice-President. Cashier. r n i, _ ri D The (i irard National Bank H l r P H IL A D E L P H IA , PA. CAPITAL, $2,000,000. SURPLUS and PROFITS, $3,888,221 DEPOSITS, $38,865,323. A C C O U N T S OF B A N K S A N D B A N K E R S S O L I C I T E D Capital stock, $50,000. Officers: President, James M. Davenport. He succeeds A. P. Doe, who has resigned Groat; vice-presidents, Roy Cushman and Wm. Ont- in order to devote his entire attention to the rapidly increasing business of the Iowa National Bank, of jes; cashier, Ralph Law, all of Waterloo. which institution he is president. Mr. C. B. Clayton has been elected assistant cashier At the meeting of the board of directors of the State of the Farmers’ National Bank, Hamburg. The ap pearance of a few new bills from the bank bearing the Bank, Waverly, G. A. Grossman was elected president signature of Mr. Clayton was the first hint the public to fill the vacancy caused by the death of Geo. P. Ellis. Nat P. Ellis was elected vice-president to fill the va had that he had been promoted to that position. cancy caused by the promotion of Mr. Grossman. Wm. A. H. Gale, of the City National Bank, Mason City, Luhring was elected a director. fell to the floor in a faint at the bank a few days ago. The Vinton Savings Bank, the State Bank and the He had walked into one of the gates back of the counter when he was suddenly stricken and fell to the People’s Savings Bank, of Vinton, have all been ex floor. He was given a stimulent and was soon able amined by C. E. Putnam, of Cedar Rapids, state bank examiner for that district. He pronounced all of them to walk home. in excellent condition. Mr. Putnam was formerly cash Notice has been given that at a meeting of the ier of one of the leading banks at Cedar Rapids. stockholders of the People’s Savings Bank, a corpora The annual meeting of the Kellerton State Bank tion organized and incorporated as a savings bank at Harvey, Iowa, it was voted by a three-fourths majority was held recently and the following officers were of the capital stock to liquidate the business of said elected for the ensuing year: J. A. Woollums, presi dent; T. C. Gorsuch, vice-president; R. W. Newton, bank. cashier; Thos. Campbell, assistant cashier. Mr. New The safe of the First National Bank of Shenandoah was blown open a few nights ago and $5,000 cash se ton takes the place of W. G. McCleary who resigned. Notice has been given that at a meeting of the stock cured by the robbers. One of the three men impli cated in the robbery has been captured and $1,500 re holders of the Onslow Savings Bank, held on the 4th covered from a straw stack where the men had been day of November, 1908, an amendment was adopted to the articles of incorporation, changing Article 3, in hiding. Two suspects are under arrest. of the articles of incorporation so that the capital stock The annual meeting of the stockholders of the Farm should be $20,000 instead of $10,000. ers’ State Bank, Rockwell, was held recently, at which Through amended articles of incorporation filed re time the old officers and directors were re-elected. Geo. H. Fuller, president; Matt Johnson, vice-presi cently, the capital stock of the Hershey State Bank, dent; Jas. E. Treston, cashier; Emil Theilen, assist Main 4276 TELEPHONES Automatic 3276 ant cashier. At the yearly meeting of the Farmers & Merchants' Bank, Aurora, W. L. Tipton, who has very ably filled the office of cashier for the past five years, tendered PU BLIC A C C O U N T A N T S his resignation.. Miss Florence Weeks also resigned as assistant cashier. Mr. Will Elliott was elected to A N D AU D ITO RS. fill the position of cashier. The grand jury returned another indictment against Chamber of Commerce Bldg., CH IC A G O LeRoy Ware, the Seymour bank cashier, who is now serving time in the pen. This indictment is for making Audits and Investigations Conducted. false entries in the bank books. There are several Systems of Accounts and Costs Installed indictments of this kind already standing against Mr. Ware, as well as some for other charges. ESTABLISHED 1891 L. A. JONES, 1891 HAWLEY, JONES & CO., 1902 Dr. J. W. Watzek has been elected a member of the LAURENCE A. JONES fif CO., 1902 board of directors of the Scott County Savings Bank, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Laurence A . Jones & Co. TH E 36 NORTHWESTERN Muscatine, was increased from $100,000 to $150,000: The Bank has enjoyed a substantial and material ¡growth during the past decade, and is undoubtedly one .of the strongest institutions of its kind in Muscatine. Mayor F. W. Lewis has purchased the interest of his partner, Geo. Hartley, in the Farmers & Mechan ics’ Bank, Bedford, and is now the sole proprietor. .No change will be made in the' amount of capital •stock. Lloyd Lewis will be cashier and Mahlon Lewis, assistant cashier. Mayor Lewis will retain the posi tion of president. At a meeting of the board of directors of the Ger man Sayings Bank, Davenport, Jens Lorenzen pre sented his resignation from the vice-presidency of the bank on account of his long-continued illness. He has been with the bank many years and his resignation was accepted with regret. H. 0 .vSeiffert was elected to fill the vacancy. Mr W. B. B rown has resigned as cashier of the German Bank of Carroll County, Carroll, and is suc ceeded by F. P. Berger, who was in the bank for sev eral years and proved a most competent man for the position. He has had considerable experience, having been engaged in the banking business in Sioux City, and also Creighton, Neb. At the meeting of the directors of the First National Bank, Dike, it was decided to liquidate the First Na tional Bank and organize a Farmers’ State Savings Bank, with an increased capital. While it was not BANKER April, 1909. definitely agreed upon, yet it is very probable the capi tal will be placed at $30,000, the stock to sell at enough premium to cover the First National and reserve. P. J. Cunningham, A. B. Shriver and E. E. Orvis bought the controlling interest in the First National Bank at Winterset. Mr. Cunningham is now presi dent of both the First National and the Winterset Savings Banks. It is planned to merge the two insti tutions into one bank, making it the largest financial institution in Madison county. Orvis was elected vicepresident. At the. annual meeting of the directors of the Citi zens’ . Bank, Union, held recëntly, O. B. Chapin ten dered his resignation as president. Mr. Chapin has been president ever since the organization of the bank and his resignation was accepted with regret. H. C. Chapin was elected president; E. W. Gregory, vicepresident; C. E. Lawrence, cashier; Cady Lawrence, assistant cashier. A new bank has been organized at Keswick under the name of the Farmers’ Savings Bank, with a capital qf $20,000. The new organization takes over the bus iness of the Cover Banking Company which will dis continue. Following are the officers : J. Irwin, presi dent; J. C. McClune, cashier; Russell Jarvis, assistant cashier. The bank expects to be ready to do business about April 1st. Mr. Vernon H. Wilson, of Garrison, has been elected teller of the Grundy County National and Grundy U N IT E D S T A T E S D E P O S IT A R Y TH E edarRapidsNational Bank O F C E D A R R A P ID S , IOW A Statement of Condition, Close of Business, February 5, 1909 Comptroller’s Call Loans and Discounts............... $2,043,258.00 Overdrafts.............................................................. 698.78 United States Bonds, atpar................................ 160,000.00 Other Bonds ...................................................... 509,446.08 Real Estate .......................................................... 160,000.00 Cash, due from BanksandU. S. Treasurer. . .. 1,368,247.44 Capital ................................................................. $ 100,000.00 Surplus and Undivided Profits, n e t.................. 176,157.76 Reserved for Taxes, Unearned Dis. and Int. on G. D.’s . ........................................................ 18,000.00 Circulating Notes ............................................. 98 197 50 Deposits .................................................... 7.7.7.' 3,849*295.04 $4,241,650.30 1,241,650.30 OFFICERS: A. T. A V E R ILL , President G. F. V A N VECH TEN , Vice-Pres. R ALPH V A N VECH TEN , Vice-Pres. K E N T C. FERMAN. Cashier LOUIS VISH A , Asst. Cashier M ARTIN NEWCOMER, Asst. Cashier. A. R. SMOUSE, Auditor DIRECTORS: A. T. A V E R IL L P re s . C ed ar R a p id s G as L ig h t Com pany. P re s . C ed ar R a p id s & M arion Teleph on e Co. GEO. B. DOUGLAS D o u gla s & Co., S tarch M an u factu rers. G. F. VAN V ECH TEN P re s . S e c u rity S a vin g s B a n k , C ed ar R ap id s. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ED. H. SMITH S e c re ta ry F arm e rs In su ran ce Co. RALPH VA N V ECH TEN V ic e P re s. C om m ercial N a t’ l B a n k , C hicago. J. M. R ISTIN E P h y s ic ia n and Su rgeon . J. H. INGW ERSEN P re s . P e o p les T ru s t & S a v in g s B a n k , C linton. RESERVE A G E N T S FOR N A T IO N A L BAN K S W e invite new business April, 1909. TH E NORTHWESTERN RANKER B A N K S U P P L IE S 37 L IT H O G R A P H E R S An Independent Company for Iowa Write Us for Prices County Savings Banks, both under the same manage ment, at Grundy Center. He was formerly assistant cashier of the Farmers’ Savings Bank of Garrison, and is succeeded by his brother, John Wilson. The Grundy County National and the Savings Bank have combined deposits of more than a half million dollars. The annual meeting of the stockholders of the Pa cific Junction Savings Bank, Glenwood, was held re cently, and all the old directors and officers were re elected with one exception. W. E. Scott was elected assistant cashier to take the place of E. L. DeLashmutt, now engaged in the implement business at Sioux Falls, S. D. The bank has increased its deposits by $10,000 over that of a year ago. New London is excited over the prospect of a new bank, which is to be organized by the farmers of that vicinity in the Cook building. A meeting was held and it is said that $22,000 of stock were subscribed for the enterprise at that meeting. This was considered enough to call it sure that the bank would be organ ized. New London already has three banks, two under one roof and another one. Mr. C. H. Kurtz, who has retired from the presi dency and active participation in the management of the First National Bank of Mt. Vernon, has had a long and successful business career as a merchant in Lis bon, Mount Vernon with branch stores at Mechanicsville and Center Point, as county recorder for eight years and as cashier of the First National for fourteen years and cashier of the Marion Savings Bank the same length of time. The interior of the LeMars Savings Bank has under gone a series of improvements which greatly add to the convenience and appearance of the banking institution. Articles of incorporation have been filed for the orga nization of the German Savings Bank, of Eldridge. Capital, $10,000. Officers: President, Hugo Kuhl, El dridge; vice-president, Adolph Muhs, Davenport; vicepresident, A. H. Sunderbruch, Davenport; cashier, A. H. Kemper, Eldridge. F. S. Leland, formerly cashier of a bank at Toledo, is under arrest in Waterloo, charged with grand lar ceny. It is alleged he drew a sight draft on the bank where he was formerly employed and after getting Dr. C. W. Bruner, an old acquaintance, to endorse it, se cured the cash from the Commercial National Bank. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bankers Samples Sent on Request When the draft was presented at Toledo it was de clared no good and the Commercial Bank is now look ing to Dr. Bruner to make good the amount. A meeting of the stockholders of the Farmers’ State Bank, Burlington, was held recently to form an organ ization. H. J. Young, of Winfield, was present and made a short talk on the organization of state banks. The articles of incorporation were adopted and fhe following directors were elected: John LaughlinyCol umbus Nugen, John W. Jackson, Gilbert Andrews, Henry Vance, Elisha Wright and John Ritchey. John Laughlin was elected president and John W. Jackson vice-president. The Centerville Savings Bank, with a capital of $50,000, has just opened for business. It was organ ized under the savings bank law of the state, and its officers, directors and stockholders are among Ap panoose county’s most substantial citizens. The bank will pay interest on time deposits at the rate of 3 per cent per annum and will loan money on real estate without commission and do a general banking bus iness. Geo. M. Barnett is president; Dr. J. L. Sawyers, vice-president; H. C. Greenleaf, cashier. The German Savings Bank, Remsen, is one of the strongest financial institutions in the state of Iowa. It is capitalized at $50,000, with a surplus of over $6,000. It has deposits of $560,000, and enjoys the reputation of being one of the largest of the Farmers’ Loan & Trust Co.’s country banks. Mr. Jas. F. Toy is president; H. Nothem, vice-president; Frank Spieck- First National Bank D U B U Q U E , IO W A Capital, - - $200,000 Surplus and Profits, $94,831.36 ^ “Deposits, $1,584,405 O F F IC E R S C. H . E IG H M R Y P re s id e n t E A. ENGEER, V ic e -P re s id e n t B. F . B L O C K E I N G E R , C a sh ie r — D IR E C T O R S C. H . E ig h m e y G eo . A . B u rd en C. M . P e a s le e B. F . B lo c k lin g e r E . A . E n g le r J. T . A d a m s J a s. C .C o llie t P e te r K ie n e THE 38 NORTHWESTERN April, 1909. BANKER T h e C en tral L ife Assurance S o c ie ty of the United, States» Des Moines, Iowa The Best Policies Issued by any Company. Every Feature Guaranteed and Secured C The New Guaranteed Premium Swing Policy on the Twenty Payment Life Plan, guarantees to return all premiums paid in cash should the insured live to the end of the>twenty years. The full face of the policy is paid immediately in event of death^ Ct, Bankers can benefit their patrons and also increase their own income by representing the Central Life. W rite Today for Literature and Agency GEORGE B. PEAK, President VV. L Shepard, V ice-P res. Homer A . M iller. T reat. H. G. E v e r e tt, S e c y and A g e n c y M gr. O. C . M iller, Asst. S e c . J. M . E m e ry, A ctu ary Dr. D. W . Sm ouse, M ed . D irector er, cashier; M. A. Mieras, assistant cashier. Mr. Spiecker has been with the institution for the last twenty years, and has the reputation of being one of the foremost bankers of his part of the state. Mr. Mieras was formerly exchange teller in the First Na tional Bank of Sioux City. The People’s Bank of Jolley has added a new Bur1 roughs adding machine to their fixtures. The First National Bank, Perry, are now in their new building and in shape to handle anything in the banking line. They have new fixtures, secure vaults and everything up-to-date. Mr. E. S. Harlan, of Atlantic, Iowa, banker of Cum berland, Grant and Oakland, has just returned from a combined business and pleasure trip to New York, Washington, Florida points and Havana, Cuba. The First National Bank of Olin opened up for bus iness in their new quarters recently. Last summer the bank purchased a fine two-story brick building, and for five months workmen have been engaged in re modeling the building for a home for the bank. A11 entire new front was put in and the exterior of the building improved. The interior is immense. It is furnished with new furniture and fixtures, all of early English oak. The entire first floor of the building is used by the bank. Isaac W. Fowler, receiver of the First National Bank of Carroll, has filed petition in federal court against the German Bank, also of that city, and J. P. SECURITY “ ™ GS Cedar Rapids CAPITAL AND SURPLUS DEPOSITS - $ 250,000.00 1,650,000.00 Does no Commercial Banking, but offers for Iowa business the ser vices of a careful competent and exclusive Savings Bank, paying interest on deposits at the rate of 4 P g r __ G. F- vAN VECHTEN, President E. M. SCOTT, Vice-Pres. (Je n t J. R- AMIDON, Vfce-Pres. FRANK FILIP, Cashier https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis G eo. H. Carr, G en ’l. Counse* Dr. Addison C . Page, Asst. M ed. D irecto Hess, its president, for the recovery of two promis sory notes which, the petition alleges, were given as collateral for a debt of the First National Bank before it passed into the hands of a receiver. The petition demands judgment to the amount of $5>793-9°F. S. Leland, formerly cashier of a bank at Toledo, was arrested at Waterloo charged with grand larceny. It was alleged that he drew a sight draft on the bank where he was formerly employed, and after getting Dr. Bruner, an old acquaintance, to endorse it, suc ceeded in getting it cashed. On discovery that the draft was no good Leland was arrested. He has since succeeded in effecting a settlement, and has since been released. The Fidelity Savings Bank, Marshalltown, which up to this year has confined itself to a strictly savings bank business, has now opened a commercial depart ment, and is prepared to take care of checking ac counts and to offer its patrons all the facilities of gen eral banking. Will receive accounts of individuals, banks, corporations and firms on favorable terms and shall be pleased to meet with those who contemplate making changes or opening new accounts. Judge Bollinger has approved the sale of the bank stock held by the late W. O. Schmidt in the Iowa Na tional Bank and the First National Bank of Davenport. Mr. Schmidt held ten shares in the Iowa and seven teen shares in the First National. The court has also directed that eighty-eight shares of stock held in the Davenport Savings Bank by Mr. Schmidt shall be Real Estate D ealer Will Conduct Sales A nyw here S. K. NOLAND Iowa’s Leading Real Estate and Live Stock Auctioneer 14 Years’ Experience. I have handled 1200 Stock and Farm Sales andfover 500 Real Estate Sales. REAL ESTATE 400 Youngerman Bldg. SALES A SPECIALTY. Des Moines, Iowa April, 1909. THE NORTHWESTERN BANKER 30 THE GERMAN SAVINGS BANK of Davenport, Iowa C W ith adequate equipment and exceptional facilities for handling business in every depart ment of Banking, T h e German Savings Bank is in a position to give its patrons the best ser vice. (I If yo u contemplate m aking a change in your banking connections, or think of open ing a new account, w e would be pleased to confer w ith you in person or by letter. Capital Stock $600,000.00 Surplus 450.000.00 Undivided Profits 305,000.00 Commercial Accounts Savings Deposits ... O F F IC E R S... CHAS. N. VOSS. Pres. H. 0 . SEIFFERT, Vice.Pres. DAVID H. McKEE, Vice-Pres. disposed of at private sale as quickly as possible. The stock is being sold to pay off the indebtedness on the estate and leave the real estate in Chicago and Wiscon sin free. It is estimated that the estate will clear from $150,000 to $200,000. On March n th a number of citizens of Spaulding and vicinity met in Spaulding with Mr. Daugherty, of Cromwell, and Frank Ruby, of Coin, and organized a bank. The stock was all sold, the officers elected and a lot purchased for the building, which will be built in the near future. Buffalo is to have a bank of its own hereafter, the necessary organization having been formed at a meet ing of business men and farmers. It will be a savings bank with $12,000 capital. The officers are: President, S. H. Moorehead; vice-president, John G. Dutcher; directors, S. H. Moorehead, John G. Dutcher, Joseph Metzger, Edward Dougherty, Rudolph Schroeder, Charles Frank, J, W. Walsh, F. Bernick and Charles H. Dormna. The Johnson County Savings Bank, of Iowa City, has closed an important deal whereby it acquires the building just south of its present location and occu pied by Keith & McChesney. Possession will be given April 1, 1910, and the bank will then proceed to en large its quarters and to occupy both rooms. This will require a readjustment of the institution’s home, but when completed the bank will have quarters of which it may well feel proud. The growing business of the bank has made an enlargement of its rooms imperative. Not wishing to give up the splendid loca tion, the institution succeeded in purchasing this ad joining building which will permit of a healthful ex pansion without necessitating a removal. The Madrid State Bank has decided to enlarge their present quarters and will add additional vault room and install a safety box department. The improvement has been under consideration by the bank for the past year or two, but the opportune time has never pre sented itself until the present. Dr. F. W. Powers has entered upon his new duties as vice-president of the Black Hawk National Bank. The appointment of Dr. Powers will no doubt meet the approval of all Waterloo citizens. Dr. Powers is a progressive business man. His experience in. bus iness matters is a valuable asset. Dr. Powers has been a resident of Waterloo for the past six years and dur https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ED. KAUFMANN. Cashier. F. C. KROEGER, Ass't Cashier ing that time has been active in financial affairs. He was instrumental in the improvement in the Black Hawk bank building. The annual meeting of the State Bank of West Union was held last week, and elected officers for the coming year as follows: John Jamison, president; W. B. Thomas, vice-president; F. Y. Whitmore, cashier; A. J. Gurney, assistant cashier; F. W. Kingsbury, teller; directors, William Colby, O. B. Dodd, Mark Gilbert, John Jamison, William Larrabee, H. P. Han cock, F. Y. Whitmore. The Breda Savings Bank has published a compara tive statement showing the growth of deposits for the past three years. Nineteen hundred six deposits were $104,489.01, now they are $345,922.83. The board of directors also increased the capital stock from $20,000 to $30,000. For a town of 400 population the record made by the Breda bank is hard to beat. The funds of Poweshiek county have been appor tioned among the banks that furnished approved bonds as follows: Guernsey Savings Bank, $10,000; Farm ers’ Savings Bank of Hartwick, $10,000; Poweshiek County Savings Bank of Brooklyn, $25,000; Citizens’ National Bank of Grinnell, $20,000; Merchants’ Na tional Bank of Grinnell, $25,000; First National Bank of Montezuma, $50,000; Bank of Searsboro, $5,000; First National Bank of Brooklyn, $30,000; Malcolm Savings Bank, $20,000; State Bank of Deep River, $15,000; private bank of C. W. H. Beyer & Co., of Grinnell, $5,000. C A P I T A I ,, $100,000 S U R P L U S A N D P R O F IT S , $12 4 ,5 15 E s ta b lis h e d 1870 Merchants National Bank O F B U R L IN G T O N , IO W A J L . E D W A R D S . P re s id e n t W . E- B L A K E , V ic e -P re sid e n t J a M E S M O IR , V ic e -P re s id e n t A L E X . M O IR , V ic e -P re s id e n t H . J. H U N G E R F O R D , C a sh ie r F . L . H O U K E . A s s is ta n t C a sh ie r C. L F U L T O N A s s is t a n t C a sh ie r Y O U R A C C O U N T IN V IT E D TH E 40 NORTHWESTERN April, 1909. BANKER Capital, Surplus & Profits $ 500,000 4 Deposits Over Paid on Savings Deposits $4 ,300,000 OFFICERS: I. H. SEARS, Pres. H. F. PETERSEN, - V ice-Pres. J . H. HASS, V ice-Pres. & Cashier GUSTAV STUEBEN, Asst. Cashier Write for particulars NORTH DAKOTA BANKERS DO NOT FAVOR POSTAL SAVINGS BANKS. The executive committee of the North Dakota Bankers’ Association at their recent meeting in Grand Forks, adopted the following resolutions: “ Resolved, That Whereas, the state of North Da kota offers ample facilities for the people of the state for the deposit and safe keeping of their savings funds through its forty state banks and 220 national banks, all of which receive savings deposits and pay interest thereon; and, “Whereas, The establishment of a postal saving bank system would be a great detriment to the best interests of the state of North Dakota and any and GEO. G. HUNTER, President O. B. FRYE, Ass’t Sec C. S. HUNTER, Sec’y G. H. MARTIN, Treasurer W. I,. R E A D , G en C oun. DES MOINES Fire Insurance Company OF IOWA ANNUAL STATEMENT. JANUARY 1, 1909 [To Insurance Department, State of Iowa] A S S E TS : Cash in Banks Cash in Course M ortgage and Loans of O ffice ......................... $ T ra n s m is s io n .... on Real E s ta te .. . . S t o c k s a n d B o n d s ................................................ Real Estate ................................. Lo a n s, S e c u re d b y P ledg es of B o n d s U n m a tu re d B ills R e c e i v a b l e .................... To ta l A d m itte d 51 ,512.02 32,862.66 24 2,749.76 100,628.85 89,548.91 4,8 9 2 .0 0 16 3,659.55 A s s e t s ..................... $ 6 8 5 , 8 5 3 . 7 5 L IA B IL IT IE S : C a p i t a l S t o c k ( f u l l p a i d ) ................................ $ 1 0 0 , 0 0 0 . 0 0 R e s e rv e f o r R e -in s u ra n c e an d o th e r C l a i m s .................................................................. 4 3 8 , 2 8 8 . 9 3 Net S u rp lu s To ta l .............................................................. 147,564.82 ....................................................................... $ 6 8 5 , 8 5 3 . 7 5 Surplus as to Policyholders $788,187.09 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis all western states, and would check the development of local and legitimate enterprises and of aid to farm ers, by taking the money out of the state and putting it into the hands of the government to be left in the larger centers where the local business man and farmer cannot get the use and benefit of it; and, “Whereas, We deem that a postal savings bank law, as recommended by congress at this time, will not in any way or particular meet the requirements of the majority of the people of the United States, and is a measure opposed and contrary to all American tra ditions ; “ Now, therefore, we ask the representatives of this state in congress; also all other representatives who have the welfare of the country at large at heart, and especially in the new states, to oppose this measure. “ Resolved, That we, the executive committee of the North Dakota Bankers’ Association, are in favor of a more thorough system of bank examinations ; and, “That the legislature be requested to amend the laws of North Dakota providing for a more frequent examination of state banks, and providing for the ap pointment as bank examiners only of men who are thoroughly competent and especially qualified to ex amine books ; such examiners to be appointed and work under a limited civil service rule, and such appoint ments to be free from all political influences, and to be recommended by the executive coinmjttee of the North Dakota Bankers’ Association.” SECURITY NATIONAL OF SIOUX CITY ROUNDS OUT A QUARTER OF A CEN TURY. Just twenty-five years ago— a quarter of a century— the Security National Bank was organized at Sioux City. The bank is the oldest in Sioux City in contin uous existence. W. P. Manley, president of the bank, was one of the founders of the institution on February 16, 1884, and has been identified with the bank’s growth since that time. The business of the bank grew as Sioux City grew, and Mr. Manley, as well as other officials of the insti tution, watched this progress that brought gratification to officials and stockholders of the bank alike. Deposits have grown from $30,000 in 1884 to $3,287,933 when last statement was issued. The bank was organized to do a strictly commercial banking business and this policy has never been changed. TH E April, 1909. NORTHWESTERN IO W A S T A T E SIOUX Officers: JO H N M cH UG H , President H E N R Y G . W E A R E , Y . Pres. BANKER 4 i N A T IO N A L BAN K CI TY, IOWA Capital, Surplus and Profits, Deposits, - % 200,000.00 96,531.32 2,850,365.26 Officers: F. A . M c C O R N A C K , 2d V . Pres. H. A . G O O C H , Cashier O . D. P E T T I T , Asst. Cashier This bank has unexcelled facilities for the prompt and careful handling! of all business entrusted to it. MINNESOTA AND WISCONSIN DISTRICT BANKERS TO MEET AT WINONA. The executive council of the First Minnesota Group of bankers, composed of President B. E. Armstrong, of Albert Lea; Vice-President F. M. Beach, of Lyle, Minn.; Secretary George Pfefferkorn, of St. Charles; F. G. Robertson, of Rushford, met recently with sev eral Winona bankers at the Arlington Club to dis cuss preliminary arrangements for the annual meeting of the group, which is to be held before the state con vention, perhaps about the first of June. It was decided to extend an invitation to Wisconsin Group Seven to meet in a joint session in Winona, the date and other particulars not yet haying been decided upon. This will depend upon the speakers it is hoped to secure and the convenience of the La Crosse bank ers. A committee on entertainment was appointed in cluding the following: F. A. Lemme, Wm. Mahl, E. E. Shepard and S. A. Steffen. The executive committee appointed the following a committee on program: Geo. Pfefferkorn, A. M. Green and F. G. Robertson. These will meet the La Crosse committee to arrange the program and speak ers and will co-operate with the entertainment com mittee. Black Hawk National Bank WATERLOO, IOWA Capital and Surplus $200,000.00 United States Depository OFFICERS ’ F . F. M cE lhinney, Pres. Richard Holmes, Vice-Pres. F. W. Powers, Vice-Pres. Charles W. Knoop, Cashier L. D. Bedford, Asst. Cashier L,ila Marcham, Teller Write us for our liberal term s for new accounts. We can handle your account at a PROFIT TO YOU. 3 per cent. Interest paid an Bank Balances. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 DULUTH BANKS FORM CLEARING HOUSE ASSOCIATION. Representatives of Duluth banks met at the City National Bank recently and completed plans under way for some weeks past by organizing a Duluth clearing house association. The following institutions are charter members : First National Bank, American Exchange Bank, City National Bank and Northern National Bank. A. L. Ordean, president of the First National Bank, was chosen president of the association; W. G. Hogardt, cashier of the American Exchange Bank, first vice-president; W] I. Prince, cashier of the City Na tional Bank, second vice-president; J. W. Lyder, Jr., cashier of the'Northern National, secretary and treas urer; Isaac S. Moore, assistant cashier of the Ameri can Exchange, manager. The clearing house commit tee consists of the president, vice-presidents and the secretary of the association. The annual meeting of the association will be held February 15th, when the Duluth Clearing House As sociation will assume and continue in entire control of all the matters pertaining to the clearing of checks, etc., between the respective banking institutions of the city. Iowa Life Insurance Co. Offices: Third Floor of Syndicate Building Waterloo, - - Iowa CAPITAL, PAID UP - $100.000 SURPLUS 25,000 O F F IC E R S F. F. McElhinney, President; C . W . Mullan, Vice-President; F. A . Ferguson, Secy, and Gen. Mgr.; E. D. Clithero, Superintendent Agents; F. W . Powers, M. D., Medical Director. D IRECTO R S C . W . M u lla n , W . R . Jam eson , P . W . P o w e rs, 0 . L . K in g s le y , G. B . M cW illia m s , J . D. E a sto n , G eo. S. M om iin, F . F . M c E l h in n e y , A . N . O den h eim er, C . A . W is e . COU N SEL M u lla n & P ic k e t t O o u rtrig h t & A rb u c k le 42 TH E NORTHWESTERN Correspondence invit ed with a view to bus iness relations with the banks of Western Iowa Nebraska, C olorado, Wyoming, South Dakota and the Northwest : : NEBRASKA NEWS AND NOTES The First National Bank, Scottsbluff, will erect a building. The Fidelity Bank, O ’Neill, is putting in its new fixtures. A building will be erected by the Valley State Bank at Minitare, The new bank building at Unadilla is now completed and ready for occupancy. The First National Bank, Shelby, is considering the erection of a building. J. F. Walsh has accepted a position as cashier in the National Bank of Humboldt. The Kramer State Bank was looted recently and $1,700 secured. The robbers escaped. . The First National Bank, Wilbur, is having plans drawn for a new building on Maple street. E. M. Ehrhardt, of Stanton, has purchased the Com mercial Trust Company bank at Lewiston. Exclusive lines of Grain, Milling, Lumber and Jobbing Paper of Minneapolis and St. Paul Especially suitable for Northwestern Banks. Offerings on application. EUGENE M. STEVEN S & CO. Commercial Paper and Investment Bonds Northwestern National Bank Bldg. State Savinas Bank Blda. M IN N E A P O L IS ST. PAUL https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKER April, 1909. Capital and Surplus $1,100,000.00 Reserve Depository for National Banks A banking organization is being perfected and Benkelman will soon have the second bank. Ed. O ’Shea has accepted the position of assistant cashier in the First National Bank, of Madison. Harry Lamb, of Nelson, has accepted a position in the Callaway State Bank as assistant cashier. Elmer Williams and family, of Fremont, have moved to Grand Island where Mr. Williams has purchased banking interests. The Commercial State Bank of Crawford has in creased its capital stock from $15,000 to $30,000. lh e Platte State Bank has moved into its new build ing. The Farmers’ State Bank will erect a building. The Omaha National Bank, Omaha, has been ap proved as reserve agent for the First National Bank, Wolbach. The Central National Bank, Lincoln, has been ap proved as reserve agent for the First National Bank, Trenton. The Bank of Howe has installed one of the modern absolutely fire and burglar proof safes of the Man ganese style. Fred Schultis has accepted a clerkship in the State Bank, Hildreth, and entered upon his duties recently. The National Bank of Commerce, St. Louis, Mo., has been approved as reserve agent for the Omaha Na tional Bank, Omaha. The Commercial National Bank, Chicago, 111., has been approved as reserve agent for the First National Bank, Columbus. Harry Mayborn has severed his connection with the Bank of Ellis and is succeeded by C. L. Bonham, of University Place. The stockholders of the Barada State Bank held their annual meeting recently and re-elected all the old officers. The Grand Island Banking Company, Grand Island, has been converte'd into “The Grand Island National Bank.” Capital, $100,000. A new bank is soon to be opened at Benkelman. It will be organized as a First National Bank and capital ized at $35,000. April, 190Q . TH E NORTHWESTERN BANKER 43 Service that Satisfies A policy that is largely responsible for the continuous growth of this Bank. This is particularly true in the Department which gives prompt and careful attention to the Accounts and Collections of Banks and Bankers. May We Serve You? FIRST NATIONAL BANK OF OMAHA C harter N o . 209 Capital and Surplus $1,000,000.00 Assets $13,000,000.00 O FFIC E R S C . T . K O U N T Z E , President F . H . D A V IS , Vice-President L. L . K O U N T Z E , 2d Vice-President T . L . D A V IS , Cashier I. A L L IS O N , Asst-Cashier C. J. Classen, formerly cashier of the Jansen State president; I. J. Merrick, vice-president; D. C. Cole, Bank, has taken charge of the Brandeis bank replacing cashier. Paul Burleigh. A new company has been formed in Shickley for the The National Reserve Bank, New York, N. Y., has purpose of engaging in the banking business. The been approved as reserve agent for the South Omaha company will be composed of a number of parties from Milford and Edgar. National Bank, South Omaha. Perry R. Burling, assistant cashier of the Bank of The Farmers’ State Bank, Overton, has been incor Cortland, was recently married to Miss L. Maude porated by W. S. Weston, J. C. Robinson, J. G. Beste Evans, of Beaver City. They have just returned from and others. Capital $10,000. a trip through California and Washington. , The directors of the Farmers & Merchants’ Bank of S. K. Warrick, cashier of the Bank of Merna has Ulysses met recently and elected D. W. Patrick cash closed a deal whereby he becomes owner of the con ier and J. D. Lemmon assistant. trolling interest in the bank at Minatare, Neb., and has Rudolph Koch, vice-president of the Farmers & Mer been elected president of the same. chants’ Bank soon to be started at Deshler, was look The First Trust & Savings Bank of Beatrice was ing after business matters at Fairbury recently. organized recently with a capital stock of $100,000. W. O. Springer, N. A. Pettygrove and others, of The officers are: L. B. Howey, president; W. C. Oxford, have bought the Bank of Edison. J. M. Moh- Black, vice-president; F. H. Howey, cashier. ney, of Oxford, became cashier March 1st. The Citizens’ Bank, Geneva, has been making nu The stock of J. A. Bowman in the Mitchell State merous changes recently in their institution. The Bank was purchased by A. E. Curry, Herman Gom- room formerly occupied by Shickley Bros, has been pert, W. O. Wiela.nd and J. T. Whitehead. fitted up for a directors’ room and the fittings over Bernard Henline, assistant cashier of the Commer hauled. cial National Bank, Kearney, and Miss Nellie Wel Lee Fritz, finding his work in the Gordon State land were united in marriage February 14th. Bank too confining, has sold a block of his stock to The Farmers & Merchants’ Bank, Walton, has been J. S. Magown, of Hot Springs, S. D., who will assist chartered. Capital, $10,000. R. E. Moore, W. T. in the bank. Mr. Fritz still holds his position in the bank. Auld, Floyd Seybolt and others are interested. Ollie Hanson, of Bloomington, has taken the posi tion in the Naponee State Bank, Naponee, Neb., made vacant by the resignation of A. H. Nelson. C. A. Phillips, who was for a considerable time the popular cashier of the Marquette First National Bank, has been chosen cashier of Cambridge State Bank. The Bank of Howe, which recently moved into its new building, has just installed a Manganese safe, and the bank is now absolutely burglar and fire proof. Articles will soon be filed for the new Lincoln bank. The name of the new institution will be the GermanAmerican State Bank. The capital stock is to be $50,000. The stockholders of the new bank at Shelby have perfected an organization by electing Geo. E. Brigham, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Packers National Bank OF SOUTH OMAHA. NEB. C A P I T A L , $150,000 U N D . P R O F IT S , $52,830.00 SU RPLU S, $100,000 D E P O S IT S, $2,189,820.00 O FFIC ER S : JOHN F. CO AD, President A. W. TRUM BLE, Vice-Pres. F. J. M ORIARTY, Cashier. CtHAS. A. DUNHAM, A ss’t Cashier. J. F. COAD, JR., A ss’ t Cashier. We invite the Live Stock Banking business of Iowa and Nebraska Bankers. 44 TH E The NORTHWESTERN BANKER April, 1909. M E R C H A N T S N A T IO N A L BA N K of O M A H A, 2775 Luther Drake, President F. P. Hamilton, Cashier A C C O U N T S S O L IC IT E D . Frank T . Hamilton, V ice Pres. B. H. Meile, Assistant Cashier - U. S. D E P O S IT O R Y Omaha ranks eleventh in bank clearings for the third week in March. The clearings for that week were $15,776,717.63, showing an increase of 29 per cent over the same week last year. A year ago they were $12,561,295.91. At the annual meeting of the Vesta State Bank, at Vesta, officers were elected as follows: D. M. Boatsman, president; C. L. Rothell, vice-president; F. C. Rolla, cashier. The capital stock will soon increase to $20,000. C. A. Robinson has disposed of his interest in the Shelton National Bank and resigned his position as cashier. Mr. Robinson’s holdings were purchased by H. C. Hansen and E. H. Spicer, of Shelton, and J. H. Spicer, of Hastings. Geo. Meisner, who a few weeks ago succeeded H. C. Andrews as president of the City National Bank of Kearney, died very suddenly and unexpectedly re cently at his home in Sheldon. W. R. Adair has been elected president. A change has occurred in the Bank of Edison, Mr. Miller and Mr. Smith having sold out to parties in Oxford. The following officers have been elected: President, W. G. Springer; vice-president, N. A. Pettygrove; cashier, J. M. Mohney. The new stockholders of the Monowi State Bank have elected the following officers: E. F. Strain, presi dent; A. G. Heckman, vice-president; J. Lewis Pack ard, cashier; O. L. Harmon, assistant cashier. These gentlemen with N. E. Hamilton and N. H. Pender compose the board of directors. An attempt was made recently at midnight to rob the bank at Bennington, Neb., while the cashier was in Cuba. The bank is owned by Mangold & Glandt and Peter Mangold is the cashier. A hole two feet square was cut in the rear of the building and a quan tity of dynamite found by the vault the next morning. C. A. Mast, Public A ccountant and Auditor NEBRASKA Capital - Surplus - Undivided Profits Deposits https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $300,000 - $ 47,732 #6,119,983 A. Burdick, Pres. Joe R. Lane, Vice Pres. John P. Van Patten, Vice Pres Lew J. Yaggy, Cashier Will J. Housman, Ass’t Cashier FIRST NATIONAL BANK OF DAVENPORT, IOWA. C a p ita l $ 2 0 0 , 0 0 0 Davenport, Iowa. - - A special session of the district court was held re cently at Aurora to try the famous case of Hamilton county against the First National Bank, the Aurora National Bank and the Fidelity National Bank, all of Aurora. The charge is that each of these banks held on deposit large sums of county money for which the county never received a cent of interest. A change was made recently in the officers and board of directors of the First National Bank, of Greeley, which leaves the active management and directorate entirely in the hands of local men. C. Brad ley and A. P. Cully have disposed of their interests to local stockholders, and S. F. Horton assumes the vice-presidency of the institution. The officers are: President, Th. Hoellwarth; vice-president, S. E. Hor ton; cashier, Paul Boisseree. The board of directors are: Th. Hoellwarth, Paul Boisseree, S. E. Horton, Wm. Starrett and B. Hoellwarth. At a recent meeting of the board of directors of the State Bank of Ravenna, it was voted to increase the paid up capital stock of the bank from $10,000 to $25,000. Peter J. Turnes has resigned his position as book keeper in the First National Bank of Humphrey to accept a similar one in the bank of Otis & Murphy. Max Neubauer will go back to Platte Center next week to fill his position in the Platte County Bank. C. E. Burnham, of the Norfolk National Bank, who is in Washington, has made a formal application to the treasury department that his bank be designated as a depository to handle and disburse funds to the Winne bago and Omaha Indians in Nebraska. Never in the past has the official statement of Nor folk banks shown as large deposits at this time of year as were disclosed in the statements just made public at the call of the treasury department. The day of the call found $1,406,767.92 on deposit in Norfolk Banks and Corporations Audited REFERENCES: B A N K S IN D A V E N P O R T $500,000 . S u rp lu s a n d .U n d ivitle d P ro fits $ 1 7 0 , 0 0 0 Send us your Davenport business. The first National Bank in operation in the United States. April, 1909. T H E 4N O R T H W E S T E R N THE OMAHA BAN HER 1 NATIONAL 4$ BANK OF O M A H A , NEBR A SK A STATEMENT, FEB. 5. 1909 R E SO U RCES. L o a n s an d d is c o u n ts ...................3 O v e rd ra fts ...................................... U. S. bonds fo r c irc u la tio n . .'. S to c k s an d b o n d s ......................... B a n k in g h ouse an d s a fe ty d e p o s it v a u lts .............................. U . S. bonds fo r d e p o s its .......... D ue fro m ap p roved re se rv e a g en ts ........................................... D ue from oth er b a n k s ............. C a sh on h a n d ................................ D ue fro m U. S. tr e a s u re r. . . . L IA B IL IT IE S . 6 .7 16 .4 3 3 .6 5 3,2 2 1.50 626.250.00 5 3 1,3 3 2 .5 5 C a p ita l .............................................$ 1,000,000.00 S u rp lu s fu n d U n d ivid ed 175,000.00 578.925.0 0 C irc u la tio n D e p o sits 1 ,4 8 3 ,3 1 7 .7 0 1 ,7 3 7 ,6 1 2 .1 8 1.520 .224 .66 30,000.00 ................................. p rofits ....................... ...................................... . . . . . . .......................I . . T o t a l . ............................ 200,000.00 2 4 3 ,9 9 6 .9 1 59 9 ,99 7.50 11,3 5 8 ,3 2 2 .8 3 .$ 13 ,4 0 2 ,3 17 .2 4 T o t a l................................... $ 13 ,4 0 2 ,3 17 .2 4 J -H . MILLARD, President C. F. McGREW, V. President WM. WALLACE, V. President WELL ORGANIZED COLLECTION DEPARTMENT. banks. This was $35,926.74 more than was shown at the last call on November 27th and $73,978.03 more than was shown at the call of a year ago. Total bank footings in Norfolk ‘ are $1,789,013.61. This repre sents an increase of $24,661.69 in a little over two months and of $79,566.85 in the past year. Norfolk bank deposits lack only a few thousand dollars of ^setting a new high water mark for the city. The Farmers’ State- Bank of Fairmont had a mild experience in bank robbery at the thands of a negress janitor recently. The colored lady gained the confi dence of the bank employes and succeeded in extract ing small quantities of silver money day by day, which threw the bank cash out of balance and the officials quickly found the cause of the trouble. It took about a half dozen men to arrest and subdue the colored woman and a portion of the stolen money was recov ered. Then the city officials shipped the colored lady on to Kansas City as the best means of punishing her. The following banks have been organized: Farmers & Merchants, Shickley, capital stock $25,000; Webster County Bank, Red Cloud, capital stock $25,000; Bank of Ragan, capital stock $20,000; Bank of Commerce, Louisville, capital stock $25,000; Farmers & Mer chants’ Bank, Oakland, capital $50,000; Farmers’ State Bank, Burton, capital stock $25,000; German-American State Bank, Lincoln, capital stock $50,000; Kil gore State Bank, capital stock, $20,000; Farmers & Merchants’ bank, Walton, capital stock $25,000; Marsland State Bank, capital stock $10,000. The new Cook State Bank opened for business March 1st, with all fixtures and furniture new and in place. The officers of the bank are: L. A. Hanks, pres ident; G. G. Betzelberger, vice-president; O. Bickle, cashier. It is stated that three Falls City bankers, Messrs. Miles, Morehead and Weaver, have sold their holdings of stock-in the National Bank of Humboldt, to Messrs. Harris and Clark, of Stella. No announcement of change in the management of the bank has been made. The Commercial State Bank of Clay Center in creased its capital stock on March 1st from $20,000 to $30,000. This is a prosperous bank in the heart of one of the richest agricultural sections in the state and its growth is an excellent illustration of the general prosperity in that section. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W. H. BUCH0LZ, Cashier FRANK BOYD Ass’t Cashier ITEMS ON OMAHA AND ALL NEBRASKA POINTS SOLICITED. There are now in active operation 6,907 national banks in the country, the total being increased by the chartering of twenty-eight new banks during the month of February. The authorized capital stock of all the national banks is now $939.320,275. The outstand ing circulation of all the national banks is now $6^,588,885. ° The Grand Island Banking Company, in its last statement, gives the following illustration of the growth of deposits in that institution from the estab lishment of the bank to the present. This is the rec ord: May 31, 1880, $5,584; February 28, 1890, $73,007; June,30, 1900, $148,613 ; May 29, 1905, $304,946; May 19, 1906, $388,749; May 3, 1907, $500,374; May 4, 1908, $566,365 ; February 23, 1909, $654,502. This is a splen did showing for the bank and equally as great a show ing for the development of the city and territory in which the bank has its business field. The Fremont Tribune notes with pardonable satis faction that the per cent of gain in the bank clearings of that city for the last two weeks have been the great est of those of the banks of any city in the United States. Last week the clearings of the Fremont banks were $377,636.63, as against $182,078.02 for the corre sponding week one year ago. ' The German-American State Bank of Lincoln opened its doors for business recently. Julius Reusch, president; Nicholas Réss, vice-president, and William Seelenfreund, cashier. Fred Whittemore, formerly bank examiner of this state, and a stockholder in the H. C. BOSTW ICK, President. H. C. M ILLER , A ss’t Cash. E. A. CUDAHY, Viee-Pree. JOHN S. KINO, Ass’t Cash. TRUM AN BUCK, Vice-Pres. JAS. B. OWEN, A ss’t Cash. J. C. FREN CH , Cashier. The South Omaha National Bank South Omaha, Nebraska Capital, $250 ,0 0 0 Surplus, $25 0 ,0 0 0 Prolits, $100,000 Send us your Stock Yards and Packing House items. We make a study of the efficient handling of accounts of banks transacting business at the South Omaha stock yards. Correspondence in vited. T H E 46 N O R T H W E S T E R N April, 1909. B A N K E R THE NAUMAN CO, 420-428 Cedar St W ATERLOO, IOW A Manufacturers of BANK FIXTURES Catalogues Free P LA N S A N D E S T IM A T E S F U R N IS H E D The Fixtures shown in this illustration Installed for Davenport Savings Bank new bank, has taken charge of the details of the open ing of the bank, and will be actively with the bank for several weeks. The location of the new bank is in the old Lancaster County Bank building on South Tenth street, and the room and fixtures have been remodeled for the new institution. The list of stockholders of the German-American Bank is as follows: Julius Reusch, Nicholas Ress, Wm. Seelenfreund, Henry H. Barth, Simon D. Mayer, Henry Mayer, Charles Mayer, C. Klose, V. F. Hofman, Fred Whittemore, Mathias Wagner, Andrew Geistlinger, John Beha, F. B. Sidles, Valentine Weiler, Frank S. Gillen, W. H. Boney, J. L. Fisher, Henry Fisher and R. M. Walt. Several changes took place this week in the man agement of Humboldt’s banking institutions. J. F. Walsh, who has been with the State Bank at Hum boldt since its organization in 1892, as assistant cash ier, has given up his position as cashier and goes to the National Bank of Humboldt, in the same capacity. The latter institution has been undergoing a change of ownership, Messrs. Miles, Morehead and Weaver of Falls City, having sold their holdings to Messrs. Harris and Clark, of Stella, which was followed by the sale of the interests of Harding and Holman, of Humboldt. Under the reorganization Mr. Walsh and C. M. Linn, both of Humboldt, are added to the directorate of the National Bank, and Mr. Clark, of Stella, is made pres ident, C. L. Hummell, vice-president, and as noted above Mr. Walsh is made cashier. The affairs of the state, bank are in the hands of Mr. S. R. Gist, vicepresident, and F. R. Butterfield, assistant cashier, but the board expects to meet at once and elect a cashier to fill the vacancy occasioned by the resignation of Mr. Walsh. Never put your hand out so far that you cannot draw it back. Treat your patrons fairly and liberally if you expect to keep them. R E C E N T S P EED C O N T E S T S IN G ON T H E B U R R O U G H S A D D M A C H IN E . The various Sales Managers of the Burroughs organiza tion have been active of late in promoting speed contests among bank clerks, and some very handsome prizes have been won. Incidentally some good records have been made. In Salt Lake City, George H. Butler, of the Utah Nation al Bank, won the gold watch fob offered by Mr. Parrish, the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis local Burroughs representative. Walter Johnson, of the Walker Brothers’ Bank, was a close second, and carried off an umbrella for his prowess. A long distance contest has been held between the Oak land, California, Chapter and the Richmond, Virginia, Chap ter, of the A. I. B. The results were reported by telegraph, and Oakland carried the day. An individual contest for championship, between G. H. Bates, of Richmond, and Wm. A. Stewart, of Oakland, was won by Mr. Stewart, who listed correctly and added 150 checks in two minutes and thirteen seconds. D. E. Perkins, the Burroughs Sales Manager at Oakland, awarded a handsome cup to the winning team. At St. Joseph, Mo., L. D. Nash, of the German-American National Bank, in an exciting contest won the cup of the St. Joseph Chapter of the A. I. B. Mr. Nash listed and added 500 checks in seven minutes, forty-four seconds. It is worthy of note that all adding machine contests of note are held upon the Burroughs Machine, and all speed rec ords have been made on that machine. S T A T E M E N T O F T H E M E R C H A N TS N A T IO N A L C E D A R R A P ID S , IO W A . B A N K O F R e s o u r c e s —Loans and discounts, $3,065,196.43; overdrafts, $1,140.40; United States bonds and other bonds, $415,125.33; real estate, furniture and fixtures, $15,437.60; cash on hand, due from banks and United States treasurer, $1,567,239.96. Total, $5,064,139.72. L i a b i l i t i e s —Capital stock, $200,000.00; surplus, $200,000.00; undivided profits, net, $23,392.64; circulation, $200,000.00; de posits, $4,440,747.08. Total, $5,064,139.72. S T A T E M E N T O F G E R M A N S A V IN G S P O R T , IO W A . B A N K O F D A V E N A s s e t s —Mortgage loans, $5,865,510.29; collateral and other loans, $3,365,775.67; bonds, $441,938.35; cash and due from banks, $1,461,110.40; in transit with agents, $93,350.00; over drafts, $8,371.23; real estate, bank building site, $70,000.00; other real estate, $10,420.65. Total, $11,316,476.59. L i a b i l i t i e s —Capital stock, $600,000.00; surplus, $300,000.00; undivided profits, $415,629.98; savings deposits, $7,968,725.12; demand deposits, $2,032,121.49. Total, $11,316,476.59. WANTED—A nest of second-hand safety deposit boxes consisting of from 50 to 100 boxes. Pease send complete de scription and price. Address S. W. C., Northwestern Banker. WEIL, FARRELL & COMPANY Established 1 8 9 4 B A N K E R S S p ecia lizin g C o m m e r c ia l P a p e r 171 La Salle St. C H IC A G O . 7 9 Milk St., B O S TO N Mutual Life Bldg. B U FFA LO Offerings on Application . THE April, 1909. NORTHWESTERN What We Know About Coin Wrappers National l a n k SOUTH OM AHA, NEB. The Bank that makes a specialty of Handling Nebraska Items We a re Des M oines only m anufacturers of Coin W rappers Sales C lerk C o v e r s and S h e e ts carried in sto c k . fo r sam ple sh e e t and p rices. W rite W rite Us Your Wants You have no real knowledge of the best service and lowest rates for Nebraska Items until you have tried the Union #tork farbs National lank The Only Bank at Union Stock Yards F . H . D a v is, P re s . F . W . C la rk e , C ash ier. E . F . F o ld a, V ic e -P re s . N . F . R eck ard , A s s t. C ash ier. E p e s C o ry, A s s t. C ash ier. E s ta b lis h e d 18 8 7. Member Omaha Clearing House “ P r o g r e s s iv e P r in ter s an d S ta tio n e r s ” Manufacturers and Jobbers o f Bank and Office Supplies 6 1 6 Grand A venne, DES MOINES, IOWA HOW IT IS IN OKLAHOMA TODAY.. BANK ING UNDER DEPOSIT GUARANTY. The Oklahoma depositors guaranty law was passed by our legislature a year ago last fall, while the panic was at its worst. It was signed by the governor on the 17th day of December, 1907, just thirty-one days after his inauguration, during which time the legis lature had to convene and organize, so it is safe to say that but very few days were spent in the considera tion of the bill. The idea was conveyed to Governor Haskell by W. J. Bryan, and was a political measure pure and simple. There was no call for it whatever, as not a bank in Oklahoma had failed for several years, and to the •lasting credit of the bankers of the state, not one bank failed or suspended in Oklahoma during the panic. It is easier to understand how powerless the banks would be to prevent the passage of such a law under the cir cumstances, hence the experiment was thrust on us almost before we knew it. One of the hap-hazard and muddling features of this experimental legislation was the provision allowing the National banks to avail themselves of it. In many of the small towns where there were two banks, one a state and the other a National, it was thought that the state institution might have some advantage with the farmers in getting deposits on account of the adver tisement that the law had been given and to offset this some fifty-four National banks paid their assess ments and joined the state banks in the guaranty fund. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N atio n a lize d 1 8 9 1 . C a p ita l $300,000.00. S u rp lu s $60,000.00 D e p o sits $3,500,000.00. Bankers Cabinet & Supply Co. Mutual Phone 1259 47 IttiBtt ^tnrk faria and what we can tell you about quality and prices will enable you to buy them of us at a great saving W e also h a v e D u p lica te P ro test B o o k s, D u p licate C learance B o o k s, D u p licate R e c e ip t and T a x R e c e ip t B o o k s, D u p lica te R e c o n c ilin g B o o k s, C oin W ra p pers and C u rren cy Straps—g u m less—all d en o m in a tio n s, T y p e w r ite r R ib b on s, A d d in g M ach in e R ib b on s, T y p e w r ite r C arbon, P en and P e n c il C arbons, L ed ger le a v e s fo r a n y 'm a k e o f binder, B inders fo r a n y le d g e r lea v es. BANKER N. B. Avoid possible delay by sending drafts on commissson merchants direct to this bank. A belated decision from the Comptroller of the Cur rency, however, knocked this all out and the National banks that have paid their assessments found them selves in an embarrassing position, and many of them surrendered their charters and became state banks. This was not a matter of choice with the National banks; they were forced to do it. The politicians were agitating the measure in their campaign speeches at every city, town, village and country school house in the state, and had worked up a kind of political frenzy regarding bank deposits, and as the state was largely Democratic and with Bryan leading, it is a wonder that matters did not get worse than they were. The Oklahoma banker as a rule is resourceful. He came to Oklahoma in an early day and learned the business by hard knocks. His ambition was to suc ceed and always be able to pay one hundred cents on the dollar, and the records show that he has made good. Under the new law it is evident, and any fair minded man who studies the situation will concede it, that the standard of our banker is being lowered. One by one the pioneer bankers who have succeeded and bear honorable records, are quietly unloading their holdings and dropping out of the business, for the time being at least, and are being succeeded by men who, instead of pointing to their past records for hon esty, fair dealing and success, point to a big sign on the window which reads, “Deposits Guaranteed by State, etc.” How can a man even think well of him self under such circumstances?— D. W. Hogan in Pa cific Banker. THE 48 NORTHWESTERN BANKER April, 1909. THE SECURITY NATIONAL BANK MINNEAPOLIS CA P ITA L • $ 1 ,0 0 0 ,0 0 0 .0 0 D EP O S ITS . . . . SU R P LU S $ 1 ,0 0 0 ,0 0 0 .0 0 $ 1 7 ,2 5 0 ,0 0 0 .0 0 F. A. Chamberlain, President JS. F. Mearkle, Vice-President J. S. Pomeroy, Cashier Fred Spafford, Assistant-Cashier George Lawther, Assistant Cashier Perry Harrison, Vice-President Stanley H. Bezoier, Ass’t Cashier We Invite Correspondence With Banks Throughout the Northwest proved as reserve agent for the People’s National Bank, Olivia, Minn. The First State Bank, Biscay, incorporates with a capital of $10,000. John Kennedy, president; Chas. F. Fiman, cashier. The Continental National Bank, Chicago, 111., has A bank is being organized at Rogers. been approved as reserve agent for the First National The State Bank of Biscay will erect a building in Bank, Westbrook. the spring. The Liberty National Bank, New York, N. Y., has The Farmers’ National Bank, Alexandria, will erect been approved as reserve agent for the First National a building in the spring. Bank, Hallock, Minn. The American Exchange Bank, Duluth, is consider The Drovers’ Deposit National Bank, Chicago, 111., ing becoming a national bank. has been approved as reserve agent for the First Na The contract for the Farmers’ National Bank build tional Bank, Luverne. ing, Alexandria, has been let. The Corn Exchange National Bank, Chicago, 111., G. R. West, cashier of the Brewster State Bank, diedhas been approved as reserve agent for the Northwest of apoplexy recently. ern National Bank, Minneapolis. The Citizens’ State Bank of Waverly increased its The American Exchange Bank of Duluth has been directors from three to four. converted into the American Exchange National Bank Geo. Harris, assistant, succeeds E. E. Greno as cash of Duluth. Capital, $500,000. ier of the City National Bank, Staples. Geo. D. Bartlett has resigned as cashier of the Citi Joseph Lockey, late president of the American Na zens’ State Bank of Stanley, Wis., and accepted the tional Bank, St. Paul, died of paralysis. position of secretary-treasurer and business manager Philip Johnson, Bemidji, has accepted a position in of the American Bank Protective of Minneapolis. the bank run by W. F. Stege, at Medina, N. D. J. R. Stratton has sold his interest in the State Bank The First State Bank, Hanley Falls, incorporates of Belle Plaine to J. A. Schoell and Jas. Stratton. Mr. with a capital of $15,000. H. M. Hanson, president. Schoell was elected vice-president. The Union Savings Association, of Sioux Falls, will The Lismore Farmers’ State Bank has been incor establish an agency at St. Cloud with F. Irving Kiser porated with a capital stock of $15,000. Wm. Tentler, in charge. Barney Thier, W m .‘Higgins and others are interested. The First National Bank, Chicago, has been apThe National German-American Bank, St. Paul, Minn., has been approved as reserve agent for the First National Bank, St. Cloud, and the First National Bank, Lyle. MINNESOTA. NEWS AND NOTES FRED W. DEAN H ig h e st G rade Commercial Paper C orresp on d en ce In v ited https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S ecu rity B ank B ldg., M IN N E A P O L IS , M IN N . Raymond Brust, who has been holding down a re sponsible position in one of the leading banks in Rug by, N. D., was in Sleepy Eye recently visiting with relatives and friends. Mr. E. E. Greeno, for many years a prominent citi zen of Staples, Minn., and since its organization the April, 1909. TH E NORTHWESTERN KENNETH CLARK, Pres. G. H. PRINCE, Vice-Pres. BANKER H. W. PARKER, Cashier 49 H. VAN VLECK, Ass’t. Cashier G. W. EKSTRAND, Ass.. Cash. The Merchants National Bank of Saint Paul, Minnesota Capital, - $1,000,000 United States Depository Surplus, - $675,000 D IR E C T O R S Charles P. Noyes Louis W. H ill V. M. Watkins W. B. Parsons Geo. H. Prince L. P. Ordway Crawford Livingston J. M. Hannaford F. B. Kellogg A m brose G u iterm an Kenneth Clark Thomas A. Marlow C. H. Biglow J. H. Skinner E. N. Saunders D. R. Noyes Correspondence and Personal Interviews Invited cashier of the City National Bank of that place, has O ’Connor, vice-president; Glen Strader, cashier. John C. Greenway, D. M. Gunn, C. C. McCarthy, M. Gur resigned his position. The Marshall State Bank, Marshall, Minn., will be ley and H. C. Dudley are also interested. incorporated. Capital, $25,000. Spurgeon Odell, pres-*H. W. Hurlbut, of Aurora, 111., has bought a con ident; Jas. A. McNiven, vice-president; Sami. J. trolling interest in the Citizens’ National Bank of Forbes, of Canby, cashier. Austin and has taken active management. The new I. F. Cotton was elected president and W. A. Farr, officers are: President, H. W. Hurlbut; vice-president, formerly of Cedar Falls, Iowa, cashier of the State James D. Sheedy, of Austin; assistant cashier, J. E. Bank of Robbinsdale. J. Trump, of Robbinsdale, was Crippen. elected a member of the board. C. D. Griffith, of Sleepy Eye, is pushing a project Minneapolis bank clearings for the week ending for a $1,000,000 state bank to be started in Minneap March n th w'ere $16,872,692.35 as compared with $19,- olis about May 1st. It is expected that half the cap 633,634.66 for the corresponding week a year ago ital will come from the country, the remainder to be This decrease was due to the light movement of grain. subscribed from the larger cities. The First National Bank and the First State Bank, To fill the places made vacant by the death of Thomas Lowry, O. C. Wyman will become first vice- Bertha, merge under the former name. F. B. Coons, president of the Farmers & Mechanics’ Savings Bank, of Wadena, president; Isaac Haclett, of Minneapolis, Minneapolis, and T. B. Janney will become second and Frank Segrin, of Bertha, vice-presidents; J. C. Miller, cashier; Edward Thompson, assistant. vice-president. J. E. Gowan, of Northome, succeeds J. B. Mooney It was reported that Mr. E. A. Westin would suc ceed Mr. O. Henricksen as assistant cashier of the as cashier of the International Falls State Bank, Harry Farmers & Mechanics’ Bank, Argyle, but this was in Hilliard, of Reynolds, N. D., becoming assistant. Mr. correct, as Mr. Westin has not been considered for the Mooney goes to Langdon, N. D., to take charge of the interests of his late father, W. J. Mooney, in the bank. place. The Union State Bank, Minneapolis, now located at F. H. Peterson, succeeds Andrew E. Johnson as president of the Union State Bank, Minneapolis. L. the corner of Washington and First Ave., south, will S. Swenson, vice-president, and E. Nelson, cashier, soon be removed to larger and more pretentious quar were re-elected. The office of second vice-president ters farther up town. Several new locations are under consideration, but a definite decision has not been was abolished. Charles Simmons recently drew a revolver on J. K. made. Applications have been approved for the organiza Martin, cashier of the First National Bank, Little Falls, trying to force him to make a loan of $1,000. He tion of the Scandinavian-American National Bank of was soon overpowered and relieved of his weapon and Minneapolis. Capital stock $250,000. N. O, Werner, former president of the Swedish-American, will be placed in the county jail. Chas. Moffit, formerly of Mechanicsville, Iowa, has president, and the Swedish-American old quarters will gone to Brewster, Minn., to take active charge of the be occupied. The bank will open about May 1st. Geo. W. Keyes, of Olivet, Mich., died recently from Brewster State Bank, of which he has been president since its organization in 1902. This bank is a decid a stroke of paralysis. Mr. Keyes was about seventyone years old. For ten years he was engaged in bus edly successful enterprise. The Crookston State Bank has been incorporated by iness in Duluth, Minn., for some years being cashier L. E. Jones, Iowa Falls, Iowa; E. O. Ellsworth, Iowa of the State Bank of New Duluth and later connected Falls, Iow a; L. D. Fosk'ett, J. H. Ruettell and Edwin with the Marine National Bank of Duluth till that A. Mills, Crookston. Capital, $40,000. It succeeded institution failed. A new bank is soon to be erected at Janesville, and the bank of Crookston, March 15th. A bank with $15,000 capital stock has been formed the plans show a very neat and compact structure. at Marble, Minn. W. C. Gilbert, president; Geo. E. The buildihg will be twenty-two feet by fifty feet. Tlie https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TH E 5o Capital & Surplus f ir s t $4,000,000 NORTHWESTERN N A T IO N A L B A N K De‘,#sils $20,000,000 It will pay you o f f ic e r s D. Mackerchar. .A ssistant Cashier April, 1909. BANKER items ^ th r o u g h this b a n k . H. A. Willoughby. .Assist. Cashier " M IN N E A P O L IS of the board of directors, Mr. Griffith Roberts, who has been assistant for the past two years, was ap pointed to the position made vacant by the resigna tion of Mr. Anderson, and Chas. Ruerup, formerly col lector, was appointed assistant bookkeeper. The Northwestern National Bank, Minneapolis, has been designated as a depository for money of bankrupt estates by an order signed by Judge M. D. Purdy. A bond of $10,000 was furnished. There are now two banks in the city so designated, the First National having previously been named to act in such capacity. A new bank in the Hamline district will be opened within the course of a month or so, probably May 1st, with a capital stock of either $25,000 or $30,000. The institution is just being organized by men interested in the Merriam Park State Bank, at the head of which is C. W. Moore, president of the latter banking house. Organization has proceeded to the extent of a full cap ital stock subscription while the organizers are looking for a suitable building in Hamline in which to open. It is understood that the building formerly occupied by the defunct Bank of Hamline is being considered. Men who have subscribed to the stock include Charles W. Moore, Frank B. Lynch, Senator J. M. Hackney and Albert J. Nason. It is understood that the insti tution will be incorporated as a state bank. A school of banking, perhaps connected with the St. Paul Institute of Arts and Sciences, will probably be opened next fall. The school will be operated under the auspices of the American Institute of Banking. Deposits of pennies by school children who are sav Cashier Prichard, having disposed of a large part of ing up, as reported by the Farmers and Mechanics’ his stock in the First National Bank, Thief River Bank, Minneapolis, to the superintendent of schools, Falls, will be succeeded as cashier by H. C. Aamoth. for the month of February, show a gain over the previ Mr. Prichard’s stock has been purchased not only by ous month of $1,732.02 and a gain in the number of H. C. Aamoth, but by his father, formerly president of accounts amounting to 1,359. There were 1,664 acthe Citizens’ State Bank of Twin Valley, and by A. L. counts opened during the month and 313 closed. There Thompson, now cashier of the Security State Bank, are now forty-three schools represented, a total of Mahnomen, and the balance by A. C. Baker, of De 12,568 accounts and a total of $10,118.76 on deposit. corah, Iowa. Mr. Prichard will still hold an interest S. B. Duea, of St. Paul, is the author of a bill intro and continue as one of the directors. duced in the house which doubles the state examina Arthur Anderson, head bookkeeper at the National tion fees to be paid by all banks organized under the Citizens’ Bank, Mankato, has tendered his resigna laws of Minnesota. It provides that the same sums tion. This action is taken on account of his health which are now paid annually* shall be paid semi-annu and Mr. Anderson plans to go to California where he ally. The amount each bank pays is gauged by the will take up his permanent residence. Mr. Anderson amount of its capital stock. The , clearings of the Minneapolis banks, according has been in the bank’s employ for three years; and has proven a faithful and efficient official. At the meeting to the manager of the local clearing house association, bank fixtures will be in red oak with mahogany finish surmounted with bronze railing and plate glass. The vault will be constructed with every known device for safety. The Interstate Protective Association, made up of the secretaries of the Minnesota, Wisconsin, North and South Dakota and Iowa State Bankers’ associations, met recently in the office of C. R. Frost, secretary of the Minnesota association, Minneapolis, for the pur pose of perfecting, a more complete organization to eliminate the bank forger and yeggman from the Northwest. An adjourned annual meeting of the stockholders of the Union Bank of Minneapolis was held recently, and the board of directors was increased from nine to eleven members. The following new members were elected: F. H. Peterson, C. Grimsrud, G. E. Rydell, Otto O. Tollefson and Otten Olson. The old members of the board were re-elected. The" new board of di rectors held another meeting at which time the ques tion of an increased office force and larger quarters was taken up. Walter F. Myers, first vice-president of the Capital National Bank, St. Paul, will retire April 1st, having sold out his interest to the president of the institution, John R. Mitchell. He has been vice-president of the Capital National Bank since it was organized three years ago, and before that was- cashier* of the Capital Bank, which the Capital National absorbed. The of fice of first vice-president will be merged with that of second vice-president, now held by Wm. B. Geery. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis April, 1909. TH E NORTHWESTERN THE MINNESOTA NATIONAL BANK 2E MINNEAPOLIS Capital - - 5,000 Circulation - 50,000 Deposits - - 1,000,000 51 Use the Minneapolis Money Order Issued only by us. Ask for a Block of Drafts which afford you the convenience of an Open Ac count with us. Quick Returns. Our Terms the Very Best. Write us at once. OFFICERS AND DIRECTO RS $200,000 Sur. & Profits BANKER A. D. CLARKE .................... ........... Prest. F. L. WILLIAMS ...................... V. Prest. J. D. UTENDORFER .................. Cashier C. I. WELCH........................ Asst. Cashier show a loss for the week ending February 18th of $3,211,495.48 in comparison with the same week last year. The clearings for the week ending yesterday were $15,495,973*38, for the same week a year ago, $18, 707,468.81. F. P. Sheldon, of the Sheldon-Mathieu Lumber Com pany, who owns a chain of banks north of Duluth, is installing new steel electric vaults furnished by M. R. Lombard, of the Electrical Protection Company of Minneapolis, in the First State Bank at Blackduck the First State Bank at Deer River and the First Na tional Bank at Grand Rapids. A gross earnings tax of 4 per cent on every bank mortgage loan company and trust company doing bus iness in the state, is proposed in a bill of which Rep resentative John McGrath is the author. The tax is to be in lieu of all other taxes and assessments on the stock, surplus, undivided profits and all other prop erty, except real estate, which is to be assessed and taxed as other real estate. Northwestern National Bank clerks, Minneapolis, have a restaurant of their own in the basement of the bank. Officers of the bank and even the directors may also sit down at the oak tables and order coffee, sand wiches, pie, or whatever else the bill of fare affords. The restaurant room is one of the additions made in remodeling the bank. Another feature of the bank is a directors’ room in the basement. The directors form erly met on the ground floor. The room there had to be taken to make more room for the public and the directors relegated themselves to the basement where John McCulloch . d . Route» M. W. Savage W . W. Heffelflnger p ? ^ A . D . C la r k e Jos. W . M o ly n ea u x M. £1. W illia m s F . Li. W illia m s J. D. U te n d o rfe r they have a well-lighted and well-ventilated apartment. Another new department in the basement is the filing room, which adjoins the restaurant. The restaurant has a small kitchen for boiling coffee and for other light preparations for the lunch which is served every noon. % To combat the “loan shark” a committee of mem bers of the local chapter of the American Institute of Banking has been formed in Minneapolis. This com mittee, which consists of E. F. Jones, H. C. Libby, J. C. MacLean, F. A. Gile, E. C. Phinney, H. E. Cobb and L. E. Wahrfield, will confer on the matter with the local labor organizations. Cook goes with Minnesota Loan and Trust Company Mr. S. S. Cook, who has for a number of years been associated with the Northwestern National of Minne apolis, has severed his connected with that institution 10 become cashier of the Minnesota Loan & Trust Co. Mr. Cook’s many friends all wish him much success in his new field of labor. Remember that difficulties are only made to over come. T h e V ic to r S p h e ric a l M a n g a n e s e S te e l S c r e w -D o o r B a n k S a fe . ¡if H IG H E S T AW ARD, GRAND P R IZ E , ST. L O U IS W O R L D ’S F A IR Made of tough Manganese Steel. Jack-Screw power utilized in closing door. No holes through the door for locking or bolting spindles. Safe locked and unlocked by the Banker’s Dust Proof Triple Time Lock. Takes lowest rate of Bank Burglary Insurance. NO IN SU R A N C E CO. HAS EVER PAID O U T A SIN G LE DOLLAR LO S S ON TH IS SAFE. The Victor Safe & Lock Go., Cincinnati, Ohio. NEVER BURGLARIZED https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W R ITE FOR C A TA L O G U E 1 0 4 M . THE 52 NORTHWESTERN BANKER April, 1909. A Warm Endorsement Expressed in Cold Figures Iowa Cash Premiums Collected During 1907 and 1908 by all Companies Doing Business in Iowa Writing Accident and Health Insurance These Figures are C A S H CO LLECTIO N S only, compiled from Sworn Statements on file with State Auditor and do not include Notes taken for Premiums or Membership Fees Iow a Prem. I 9O7 Nam e of Com pany 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. B an k ers A c c id e n t C o .................................. $ 1 2 2 , 6 8 0 .7 2 Great W estern Acc. A sso cia tio n ................ 98,061.11 Aetna Life (Acc. Department) C o n n ........ 50,348.83 Travelers Accident Co., Hartford, C o n n .. 49,184.41 Preferred Accidont Co., New Y ork............ 4 5 , 8 3 0 .7 7 Continental Casualty Co., Chicago ............. 45,619.69 Woodman Accident Assn., L in coln ,N eb ... 4 5 ,1 4 3 63 North American Accident Co., Chicago .. 25,450 42 Pacific Mutual, C alifornia............................ 25,415.98 United States, Saginaw Mich. .................... 24,071.86 Standard Accident Co., Detroit, Mich. . . . 21,628.11 F idelity and Casualty Co., New Y o r k .. . . 14,751.48 Endowment Accident Co., Sioux City, la. American Accident Assn., Des M o in es... 14,576.00 Maryland Casualty Co., B altim ore............ 5 ,5 0 7 42 General A ccident Corpn., Scotland.......... 4,404 22 Casualty Co. of America, New Y ork.......... 3,128.09 Ocean A ccident Co., E n g la n d .................... 2,052,93 Great Eastern Casualty Co., New York 1,822,35 U nited States Casualty Co., N ew York. 9 2 4 59 Iowa Prem. 1907 Increase $ 2 5 , 2 1 1 .4 4 $ 9 7 , 4 6 9 .2 8 17,906.97 80,154.00 47,011.00 3 ,3 3 7 -8 3 52,136.00 52,582.00 5 4 ,5 7 7 00 8,827.46 36,316.19 8,071.42 17,379.00 a s^ -o o 4,895.86 19,676.00 23,011.00 6,139.48 8,612.00 9,937.00 Absorbed by Great 1,025.00 i 3 ,5 5 i o o 5,698.00 760.22 3,644.00 1,629.09 1,499.00 3,229.00 785-00 1 ,0 3 7 -3 5 1,157.00 ...................... / Decrease 2 ,9 5 1 -5 9 6,75123 8 , 957 -3 1 115 02 1,382.89 191.00 1,174.07 232.41 TH E BAN KERS A C C I D E N T C O M P A N Y DES MOINES, OFFICERS AND IOWA DIRECTORS F. L. M IN E R , P resid en t C . H. M A R T IN , V ice -P re sid e n t Pres. Peoples Savings Bank G . G. H U N T E R , Pres. Des Moines Fire Ins. Co. E, C. B U D L O N G , 2 d V ic e - P r e s. Agency Manager N . T . G U E R N S E Y , G e n e r a l C o u n sel D. W . SM OUSE. M ed ic a l D ir e cto r J. A . K IZE R , Secy. E. A . S L IN IN G E R , T re a s. Asst. Cashier Peoples Savings Bank H. S. W I N S T O N , A u d ito r ALL FORMS OF ACCIDENT AND HEALTH INSURANCE WRITTEN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P rofitab le A g e n c y A rra n g em en ts M ade W ith B ank O fficers or E m p lo y e e s April, 1909 TH E NORTHWESTERN BANKER 53 REPRESENTATIVE IOWA BANKS These Banks have special facilities for handling collections and any other business entrusted to them ADEL—Adel State Bank. DEXTER—State Bank of Dexter. C a p ital, $50,000. U n d ivid ed P ro fits, $15,D ep o sits, $325,000. S. M. L ea ch , P re s ., R o b t. Leach , Cash. 000. ALGONA—First National Bank. C a p ital, $50,000. S u rp lu s an d U n d ivid ed P ro fits, $13,0 0 0. D epo sits, $350,000. W m . F ergu so n , P re s ., D . H . H u tch in s, V ic e P res., C. A . P alm er, Cash. APLINGTON—Exchange Bank. C a p ital, $50,000. S u rp lu s $10,000. R e s p o n sib ility , $100,000. D epo sits, $120,000. N. H . R ein ts, P res., H . J. D eB u h r, Cash. AFTON—Savings Bank of Afton. C a p ital, $20,000. S u rp lu s an d U n d ivid ed P ro fits, $2,000. D ep o sits, $90,000. S . H . B la c k w e ll, P res., A . B . M cD an iel, V ic e -P re s ., W . R.. D e L a y , Cash. ATLANTIC—Atlantic National Bank. C a p ital, $100,000. Su rplu s, $20,000. U n d iv id ed P ro fits, $26,400. D ep o sits, $690,000. J. A . M cW aid , P res., C. R . H un t, V ic eP re s ., L . W . N iles, Cash., T . P . B reh en y, A s s ’ t Cash. C a p ital, $30,000. Su rplu s, $2,400. U n d iv id ed P ro fits, $2,200. D epo sits, $230,000. F re d H ager, P re s ., H . A . G eise, V -P re s ., Chas. B u rd ick , Cash., J. E . H olm es, A s s ’ t C. C a p ital, $100,000. S u rp lu s, $25,000. U n d iv id ed P ro fits, $10,000. D ep., $600,000. E . E . H ugh es, P re s ., Joh n Cooper, V -P re s . T . L . A sh fo rd , Cash., A . M. B u rn sid e, A . C BRITT—First National Bank. C a p ital, $50,000. Su rplu s, $25,000. U n d iv id ed P ro fits, $2,500. D ep o sits, $230,000. L e w is L a rso n , P re s ., C< P . L ew is, V ic e P res., E d w . F . L a rso n , Cash. CHEROKEE—First National Bank. C a p ital, $50,000. Su rplu s, $50,000. U n d iv id ed P ro fits, $15,0 0 0. D epo sits, $700,000. N. T . B u rro u gh s, P., W . A . S an ford , V .-P ., R . H . S crib n er, Cash ., C. S u lliv a n , A s s ’ t C. CLARION—Bank of Clarion. E. A. A lexa n d er, CASEY—Abram Rutt National Bank. C ap ital, $25,000. Su rplu s, $17,0 0 0. U n d iv id ed P ro fits, $1,600. D ep o sits, $ 231,4 33 . A b ram R u tt, P res., W m . V a le n tin e , V iceP re s ., S. L in c o ln R u tt, Cash., H a rlie E. Sm ith, A s s ’ t Cash. CLARINDA—Clarinda Trust & Savings Bk. C a p ital, $75,000. S u rp lu s, $8,000. D e p o sits, $330,000. W m . O rr, P res., H . R . S p ry, V ic e -P re s., A ’. F . G allo w a y, Cash. COIN—Farmers & Merchants State Bank. C a p ital, $25,000. Su rplu s, $1,500. D e p o sits, $85,000. C has. H a rt, P res., J. F . W h itm ore, V ic eP re s ., G .F . M itch ell, Cash., F . E . R u bey, A s s ’ t Cash. CORNING—First National Bank C a p ital, $100,000. Su rplu s, $12,500 . U n d i v id ed P ro fits, $5,000. D ep o sits, $44 5,216 .8 8. F . M. W id n er, P res., R a lp h New com b, V ic e -P re s ., B . N ew com b, Cash. CRESTON—First National Bank. C a p ital, $50,000. Su rplu s, $50,000. U n d iv id ed P ro fits, $ 18 ,556 .6 9 . D ep o sits, $590,000. S. W . R ich ard son , P re s ., Chas. L . B u lla rd , V ic e -P re s ., M. D. Sm ith, Cash., R . I. P in kerto n , A s s ’ t Cash. DECORAH—Winneshiek Co. State Bank. C a p ital, $100,000. S u rp lu s, $25,000. U n d iv id ed P ro fits, $25,000. D ep o sits, $960,. C. J. W e ise r, P res., E . W . D. H o lw a y, V . P ., R . A lg y e r, C ash ier, A . A n k in son , T e lle r. 000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C apital, $40,000. S u rp lu s, $7,000. U n d i vid ed P ro fits, $2,400. D ep o sits, $190,000. J. A . L in d b e rg , P re s., M. E. C u rtis, V ice P re s ., E. M. L u n d ien , Cash. ELDORA—First National Bank. C a p ital, $50,000. S u rp lu s an d profits, $45,000. W . J. M u rray , P re s ., W . J. M oir, V ic e P re s ., W . E . R ath bon e, C ash., A . W . Crossan an d H . S. H am m ond, A ss t. C a sh iers. U . S. D e p o sita ry . EAGLE GROVE—Citizens State Bank. C ap ital, $100,000. U n d ivid e d P ro fits, $5,000. D ep o sits, $380,000. Geo. W rig h t, P re s., A . N . Odenheim er, V ic e P re s ., E . C. P la tt, C ash., J. A . W rig h t, A s s ’ t Cash. C ap ital, $50,000. S u rp lu s and U n d ivid ed P ro fits, $ 7,72 5 . D ep o sits, $ 4 2 9 ,3 7 4 .4 1. _M. L . B ro w n , P re s ., Geo. E. P e a rsa ll, V ic e P re s., W . J . B row n , C ash., P . S. B row n , A s s ’ t Cash. ESSEX—Farmers Savings Bank. BOONE—Boone National Bank. P re s ., DAYTON—Farmers State Bank. EMMETSBURG— Emmetsburg N at’l Bk. BAXTER—State Savings Bank. C a p ital, $50,000. G eo. W . Y o u n g , Cash. C ap ital, $25,000. Su rplu s, $17,000. U n d ivid ed P ro fits, $1,000. D epo sits, $225,000. J. G. S tan le y , P re s., M rs. J . E . Savage, V ic e -P re s ., F . H . F ittin g , Cash., S. E. B ysom , ^A ss’ t Cash. C a p ital, $25,000. U n d ivid e d P ro fits, $1,000. D ep o sits, $63,000. R . A . San derson , P re s., O. W . F reed , V ice P r e s ., J. A . E k e ro th , Cash., V ic to r F reed , A s s ’ t Cash. FOREST CITY—Forest City N at’l Bank. C a p ita l an d Su rplu s, $65,000. G. S. G ilb ertso n , P re s ., W . O. ~ H anson, V .-P ., C. H . K e lle y , V ic e -P re s ., C. A . Isaa cs, C ash ier, M . J. Johnson, A s s ’ t C ash ier. FONDA—The Fairburn State Bank. C a p ital, $60,000. Su rplu s, $10,000. U n d iv id e d P ro fits, $2,544.30 . D ep o sits, $ 19 7,2 5 8 .1 7 . E . H . F a irb u rn , P re s ., F ra n k A . F airburn , V ic e P re s ., A . S. W ood, Cash., W ill C . W ood, A s s ’ t Cash. FARRAGUT—Commercial Savings Bank. C ap ital, $10,000. U n d ivid e d P ro fits, $1,000. D ep o sits, $45,000. M. H . G alt, P re s., C. L . L a rso n , V ice P re s., R . P . G alt, Cash. GILMORE CITY—Gilmore State Sav. Bank C a p ital, $25,000. D ep o sits, $80,000. R . H . V a n A lstin e , P re s ., S. V a n A lstin e , V ic e P re s., L o re n z L o ren zen , C ash . GRINNELL—Merchants Nat. Bank. C a p ital, $100,000. S u rp lu s, $40,000. U n d iv id ed P ro fits, $15,000. D ep., $670,000. S. A . C ra va th , P re s ., E . W . C la rk , V ic e P re s ., L . F . P a rk e r, 2 d V ic e P re s ., G eo. H . H am lin , C ash., W . 0 . S taa t, A s s ’ t. C ash . GEORGE—George Savings Bank. C a p ital, $16,000. U n d ivid e d P ro fits, $ 1 0 ,500. D e p o sits, $110 ,0 0 0. Chas. Shade, P re s., C. J. L o c k e r, V ic e P re s., F . W . W o h len berg, C ash., Ed. M. F re e rk s, A s s ’ t Cash. GRISWOLD—Citizens Bank. C a p ital, $50,000. Su rplu s, $5,000. J. H . A le xa n d e r, P re s., H . M. R ein ig , Cash., D . E p p elsh eim er, A s s ’ t Cash. GOWRIE—First National Bank. C a p ital, $25,000. Su rplu s, $1,000. U n d i vid e d P ro fits, $20,000. D epo sits, $250,000. N. A . L in d q u ist, P res.,, A. R . D aughenbaugh, V ic e -P re s ., F . W . L in d q u ist, Cash., A . E . L in d q u ist, A s s ’t Cash. HAMBURG—Farmers National Bank. C a p ital, $50,000. Su rplu s, $5,500. U n d i vid e d P ro fits, $ 11,0 0 0 . D ep o sits, $425,000. A . H y d in ge r, P re s ., G. M. B e a l, V ic e -P re s ., B . D . B u tte rfie ld , Cash., B . G. F ra n k lin , A . O. HAMPTON—State Savings Bank. C ap ital, $40,000. U n d ivid e d P ro fits, $2,000. D ep o sits, $140,000. J. H . H u tch in s, P re s ., C a sp e r W o lf, V ic e P re s ., O. F . M y ers, C ash ., D . C. W o lf, A s s ’ t Cash. IOWA CITY—Iowa City State Bank. C a p ital, $65,000. S u rp lu s, $29,000. Un d iv id ed P ro fits, $700. D ep o sits, $390,000. E u c lid San d ers, P re s ., W m . M u sser, V ic e P re s ., P . A . K o ra b , C ash., J . C. S w itze r, A s s ’ t Cash. INDEPENDENCE—Com. State Bank. C a p ital, $100,000. S u rp lu s, $20,000. U n d iv id e d P ro fits, $29,845. D ep o sits, $34 3,8 18 . O. M . G ille tt, P re s., A . G. Sh ellito , V . P re s., C. E . P u rd y , Cash. KLEMME—S ta te . Savings Bank. C a p ital, $15,0 0 0. S u rp lu s, $ 10,50 0. U n d iv id e d P ro fits, $2,500. D e p o sits, $110 ,0 0 0. W . R . B loom , P ., D . D . R oss, W m . K a t' ter, V . P . ’ s., P . M. G riesem er, C., F. J. W en ch, A . LE MARS—First National Bank. C ap ital, $100,000. S u rp lu s, $20,000. U n d iv id e d P ro fits, $8,0000. D ep. $1,085,000. P . F . D alto n , P re s ., G. L . W e m li, V - P r e s ., E . A . D alto n , C ash ier, J. A . H offm an, A . C. MASON CITY—First National Bank. C a p ital, $150,000. S u rp lu s, $150,000. D e p o sits, $1,800,000. 0 . H . M cN id er, P re s ., W . G. C. B a g le y , C. A . P a rk e r, A s s ’ t C ash ier. MARSHALLTOWN—Marshalltown State. C a p ital, $100,000. S u rp lu s an d P ro fits, $50,000. D ep o sits, • $750,000. A . F . B a lch , P re s ., G. A . T u rn e r, V -P re s ., P . S. B a lc h , C ash ., 0. C. T rin e , A s s ’ t Cash. MONTICELLO—The Monticello St. Bk. C a p ital, $100,000. S u r p lu s an d P ro fits, $150,000. D ep o sits, $1,348,000. S. S. F a r w e ll, P re s ., W m . S tu h ler, V -P re s ., H . M . C arp en ter, C. H . S. R ichardson, A . C. MARENGO—First National Bank. C a p ital, $50,000. S u rp lu s an d U n d ivid ed P ro fits, $25,000. D ep o sits, $200,000. ____ F ra n k Cook, P re s ., H . E . O ld aker, Cash. MARENGO—Peoples Savings Bank. C a p ital, $25,000. U n d ivid e d P ro fits, $ 2 ,000. D ep o sits, $218,000. A r th u r M . V e tte , P re s ., J. B . M u rp h y, V ic e P re s., J . E w in E v an s, C ash., W a lte r M acG reg or, A s s ’ t Cash. MARENGO—German Am. Sav. Bank. C a p ital, $25,000. S u rp lu s, $5,000. U n d iv id e d P ro fits, $2,000. D e p o sits, $180,000. D . H . M cK e e , P re s ., J. C. E n g e lb e rt, V ic e P re s ., C h as. L u d w ig , C ash., C. I. D eu zler, A s s ’ t C ash. MADRID—Farmers Savings Bank. D ap ita l, $15,000. U n d ivid ed P ro fits, $700 D ep o sits, $98,000. Joh n V a n Zandt, P re s., S. A . B en gtson , , V ic e -P re s ., F . H . G raves, C ash., G. C. C a rl son, A s s ’ t Cash. MADRID—Madrid State Bank. C a p ital, $25,000. Su rplu s, $10,0.00. D e p o sits, $175,00 0 . O scar O a k le a f, P re s., P e te r C assel, V ic e P re s ., S. B . W illia m s, Cash. NEWTON—First Nat. & Newton Sav.. C a p ital, $80,000. S u rp lu s, $37,50 0 . D e p o sits, $500,000. W . O. B ergm an , P re s ., H . B . A llfr e e and C . Sloa n aker, V . P re s ., R . L . A rn o ld , C ash . NEWTON—Jasper County Savings Bk. C a p ital, $100,000. S u rp lu s, $10,000. U n d iv id e d P ro fits, $ 1 ,3 5 7 .2 7 . D e p o sits, $ 5 16 ,70 5.45. J. M . W ood row , P re s ., F . M . W ood row , V ic e P re s,, A . E . H in d orff, C ash._______ NORWAY—Benton Co. Savings Bank. C a p ital, $ 15,0 0 0. S u rp lu s, $15,000. U n d iv id ed P ro fits, $ 1,70 0 . D ep o sits, $143,000. H . L . U th off, P re s ., L o re n z B re ch t, V. P re s ., J. H . P ic k a r t, C ash. THE 54 NORTHWESTERN April, 1909. BANKER Representative Iowa Banks [Continued] NEWTON—Citizens State Bank. C a p ital, $60,000. U n d ivid ed P ro fits, $ 6 , 000. D ep o sits, $300,000. F . L . M a yta g ,. P re s ., J o e H orn , V ic e P re s ., L e e E . B ro w n , C ash . NORWAY—First National Bank. C a p ital, $25*000. S u rp lu s, $7,500. U n d iv id e d P ro fits, $68 5.24. D ep., $ 1 7 3 ,5 7 1 . C. E . Sim pson, P re s ., Geo. A . D oebel, V . P re s ., Jo h n T . Sm ith, Cash., L . H . Jurgem eyer, A . Cash. NEVADA—First National Bank. C a p ital, $75,000. S u rp lu s, $25,000. Un- j d iv id ed P ro fits, $10,000. D ep., $400,000. J. A . F itc h p a tric k , P re s ., W . P . Z w illin g , V ic e P re s ., E d g a r John, Cash., E . A . F a w ce tt, A s s ’ t Cash. ROCK VALLEY—First National Bank, C ap ital, $50,000. Su rplu s, $10,000. D e p o sits, $ 1 7 5 , 0 O0 . I . S. L a rg e , P re s ., S. A . M itch ell; V ic e P re s ., Joh n J. L a rg e , C ash., J. A . H u izen ga. A s s ’ t Cash'. RED OAK—Farmers National Bank. C a p ital, $60,000. Su rplu s, $500. D ep o s its, $2 1 0 , 0 0 0 . L . D . G oodrich, P re s ., J . F . B ro w n , V ic e 'P res., J. B . S ta ir, 'C a sh . SIOUX CITY—Live Stock Nat. Bank. L o c a te d a t S io u x C ity S to c k Y a rd s . C a p ital, $100,000. S u rp lu s, $75,000. Geo. S. P a rk e r, P re s ., F . L . E ato n , V ic e -P ., W . P . D ic k e y , C ash ., C. D . V a n D y k e , A , C. SHENANDOAH—Shenandoah NatT Bk. OSKALOOSA—Oskaloosa National Bank. C a p ita l, $100,000. S u rp lu s, $50,000. D e p o sits, $700,000. W . H . K a lb a ch , P re s ., H . L . Sp en cer, V iceP re s ., C. E . L a fla n d , Gash. OCHEYEDAN—Bank of Ocheyedan. R e s p o n s ib ility , $1,000,000. Jo h n P o rte r , P re s ., Jam es P o rte r, V ic e P re s ., W . M . R o th , Cash ., D ic k W assm an n , A s s ’ t Cash. OCHEYEDAN—'Ocheyedan Sav. Bank. C a p ital, $25,006. U n d ivid ed P ro fits, $2,000. D ep o sits, $110 ,0 0 0 . W . M . Sm ith, P re s ., W . D . Sh u ttlew o rth , V ic e P re s ., C. R . R ic h a rd s, C ash . . PANORA—Guthrie Co. Natl. Bank. C a p ital, $50,000. S u rp lu s, $10,000. U n d iv id ed P ro fits, $6,000. D ep o sits, $330,000. M . M . R eyn o ld s, P re s ., H . L . M oore, V ic e P re s., W a d e S p u rgin , C ash. PANORA—Citizens State Bank. C a p ital, $25,000. D ep o sits, $ 115 ,0 0 0 . S. C. C u lb ertso n , P re s ., M . M . H ead, V ic e P re s ., H . M . C u lb ertso n , Cash ., G. A . Goetzm an, A s s ’ t C ash. PERRY—Citizens Bank. C a p ital, $50,000. S u rp lu s, $ 15,0 0 0. U n d iv id ed P ro fits, $2,500. D eposits,- $380,000. S. S . D ilen b eck , P re s ., S. M . T h o rn ley, V ic e - P r e s ., B . C . D ilen b eck , Cash ., J. E. H am b rig h t, A s s ’ t C ash. PERRY—First National Bank. C a p ital, $50,000. S u rp lu s, $10,000. U n d iv id e d P ro fits, $6,000. D ep o sits, $510,000. D . J . P a tte e , P re s ., A lle n B reed , Vice P re s ., H . M. P a tte e , Cash ., W . H . P a ttee, A s s ’ t C ash . POMEROY—Pomeroy State Bank. C a p ital, $25,000. S u rp lu s, $2,500. U n d i v id e d P ro fits, $ 1,50 0 . D ep o sits, $175,0 0 0 . J . H . L o w re y , P re s ., M . F . M u llan V ic e P re s ., Joh n F . G utz, C ash.,. R . C. B e r ry , A s s ’ t C ash. ROCKWELL CITY—First Natl. Bank. C a p ital, $50,000. S u rp lu s, $10,000. U n d iv id ed P ro fits, $8,000. D ep o sits, $210,000. E . A . R ic h a rd s, P res., J. H . B ra d t, V ic e P re s ., F . P . H uff, Cash., W . A . S an d b u rg, A s s ’ t C ash. ROCK VALLEY—State Bank. C a p ita l, $25,000. S u rp lu s, $1,800. U n d i v id e d P ro fits, $1,60 0. D ep o sits, $170 ,0 00 . Joh n J . Sch lun d , P re s ., C. J . F in k , V ic e P re s ., F . M . B u n tin g , Cash. C a p ital, $100,000. Su rplu s, $60,000. D e p o sits, $375,000. G eorge B o g a rt, P re s ., E . H . M itch e ll, V -P ., R . M. G w yn n , Cash.,' F . M. S ch n eid er, A . C. C a p ita l, $50,000. D e p o sits, $320,000. G. H . A u stin , P re s., F . W . B rok h a u sen , V ic e P re s ., D . E . G oodell, Cash. VICTOR—Farmers Savings Bank. C a p ital, $25,000. S u rp lu s, $ 15,0 0 0. U n d iv id e d P ro fits, $3,500. D ep o sits, $400,000. H . C. P h e lp s, P re s ., L e v i L e w is , V . P re s ., H . L . M u ssetter, C., F lo re n ce M u sse tte r, A.C. WESLEY—Security Bank. C a p ital, $25,000. Su rplu s, $7,900. U n d iv id e d P ro fits, $ 1,3 4 6 . D e p o sits, $ 15 9 ,8 2 5 . C ash ier, W . M. H all, A s s ’ t C ash ier. G. B . H a ll, P re s ., L e w is R asm u ssen , WEST LIBERTY—Citizens Sav. Bank. C a p ital, $25,000. U n d ivid e d P ro fits, $100. D ep o sits, $50,000. J. E . M cIn to sh , P re s ., G A . M oore, V ic e ' P re s ., I r w in A ik in s , C ash. Com m enced b u sin e ss Oct. 1 7 , 1908. SHENANDOAH—The Security Trust & Sav. Bank. WEST LIBERTY—la. State Bk. & T. C. C a p ital, $30,000. C. W . F ish b au g h , P re s., Jo seph M orhain, V ic e -P re s ., E'. G. F ish b au g h , Cash. SCRANTON—Bank of Scranton. C a p ital, $25,000. S u rp lu s, $26,000. De p o sits, $246,000. Chas. B ofin k, P re s ., H e n ry H aag, V ic e P res., W . W . A n d erso n , C ash., A . E . A dam s. A s s ’ t Cash. SHELDON—Sheldon National Bank. C a p ital, $50,000. S u rp lu s, $5,800. U n d i vid ed P ro fits, $ 1,50 0 . D ep o sits, $300,000. J a s. F . T o y , P re s ., W . H . M y ers, V ic e P re s ., P . W . H a ll, C ash ., E . B . M yers, A s s ’ t C ash. SHELDON—First National Bank. C a p ital, $100,000, S u rp lu s, $25,000. D e p osits, $506,006. W . M . Sm ith, P re s ., J . H . A rch e r, V ic e P re s ., F . E . F ris b e e , C ash., F . W . B loxh am , A s s ’ t Cash. SPENCER—First National Bank. C a p ital, $ 1 0 0 , 0 0 0 . Su rplu s, $20,000. U n d iv id ed P ro fits, $ 1 4 ,2 1 5 . D ep o sits, $285,000. C has. M cA llis te r, P re s ., H . N. Sm ith, V ic e P res., C. P . B u c k e y , C ash ., C has. R . H ow e, A s s ’ t Cash. SHENANDOAH—Shenandoah Nat’l Bank. C a p ital, $100,000. S u rp lu s, $60,000. U n d iv id ed P ro fits, $5,000. D e p o sits, $400,000. Geo. B o g a rt, P re s ., E . H . M itch e ll, V ic e P res., R . M. G w y n n , C ash., F . M . Sch n eid er, A s s ’ t Cash. STUART—Exchange State Bank. C a p ital, $25,000. S u rp lu s, $13,0 0 0. U n d iv id ed P ro fits, $ 1 , 0 0 0 . D e p o sits, $ 2 0 0 , 0 0 0 . J. E . Sa va ge, P re s ., J .R . Sm ull, Jr., V ic e P re s ., H . L . H ack th o rn , A s s ’ t Cash. STUART—First National Bank. C a p ital, $25,000. Su rplu s, $5,000. U n d iv id ed P ro fits, $8,000. D ep o sits, $240,000. Jno. W . F o ste r, P re s ., Jaco b F . B lackm an , V ic e -P re s ., A . C. C u rtis, C ash., J. P . M c L a u g h lin , A s s ’ t Cash. STUART—Stuart Savings Bank. C a p ital, $25,000. U n d ivid e d P ro fits, $ 1 ,50Ö. D ep o sits, $90,000. M . S. K ile , P re s., C has. M. B u rk e , V ic e P re s ., F . M . K ile , Cash. One of the most profitable things a man can do is to open a savings account. And not only open it, but to add to it. Be thrifty, industrious, and saving. You will be worth more to your family, more to yourself, and more to the community. Show us one person who has become rich through wild speculation, and we will show a dozen who have become rich by s a v i n g . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TAMA—Commercial Savings Bank. C a p ital, $40,000. S u rp lu s, $20,000. U n d iv id e d P ro fits, $18,000. D ep o sits, $290,Q00. I . A . N ich ols, P re s ., C. M. N ich ols, Vice P re s ., W a lte r L ig h t, C ash ., Iva n N oland, A s s ’ t C ash. WILTON JUNCTION—rFarmers. Sav. Bk. C a p ital, $20,000. U n d iv id e d P ro fits, $2,000. D e p o sits, $125,00 0. C h as. C . K a u fm an n , P re s ., F re d M au rer, V ic e P re s ., F . 0. W ie k e s, C ash ., A. J. W a ck e r, A s s ’ t Cash. WILTON JUNCTION—Union Sav. Bk. C a p ital, $40,000. S u rp lu s, $25,000. U n d iv id ed P ro fits, $5,000. D ep o sits, $400,000. A . R . L e ith , P re s ., D . G. A g n e w , V ic e P re s ., W . D . H a rris , Cash. WEBSTER CITY—First Nat’l Bank. C a p ital, $100,000. S u rp lu s, $60,000. L . L . E ste s, P re s ., W . J. C o vii, Vice P re s ., E . F . K in g , C ash., W . C. P y le , H . O. C u t ler, A s s ’ t C a sh iers. Reliable Real Estate Deal ers of Iowa MANSON—Griswold Land & Credit Co. F a rm L a n d & F a rm L o a n B ro k e r. W e a lw a y s h ave good_ in v e stm e n ts fo r th ose w h o h av e id le m oney. W r ite an d te ll u s w h a t y o u w a n t. M . W , F itz , P re s id e n t. LOGAN—Almor Stern. F a rm L o a n s, R e a l E s ta te A b s tr a c ts o f T itle F ir s t M o rtg ag e F arm L o a n s fo r sale. H a rr is o n C o u n ty. RED OAK—0. E. Schoonover. T e n e x cu rsio n s p e r y e a r to W e s te rn C a n ad a. $20.00 ro u n d trip . Tam e g ra s s lan d s, p ro d u c in g 40 b u sh els. W h e a t o u r sp e cia lty , also Io w a , N eb ra sk a, D a k o ta an d C olorado land. SAC CITY—Geo. A. Taylor. Sac R e a l E s ta te D e a le r C ou n ty, Io w a , F arm s, A cre a g e s R e sid e n ce P ro p e rty . and We are not in the least particular about the size of your first deposit; any size from one dollar up will be received. The savings bank enables women, clerks, mechanics, and others to accumulate a reserve that will be avail able in times of need. Lean not upon others ; rely upon your own strength ; earn your own dollars ; save and deposit as many of these dollars as you can. April, 1909. TH E NORTHWESTERN BANKER 55 Directory of Iowa Banks TOWN NAME OF BANK PRESIDENT VICE PRES. CASHIER Adel.................... FIRST NATIONAL B A N K ... J. W. R ussell. . . . D. A. BLanchard Wm. Roberts.............. A lta .................... ALTA STATE BANK W. J. Sievers.., W. P. M ille r ..... G. F. Tincknell.. Aplington.......... FARMERS SAVINGS BANK. . A. Ontjes.............. C. Premius.................. Albert Dreyer............ Berlin................ GERMAN SAVINGS BANK Martin Mee.......... Henry Ludwig............ Theo. P. Rehder........ Breda................ BREDA SAVINGS BANK. .. . J. H. Ricke.......... G. Vi Gian.. 7 ............ F. Van E rd e w y k .... Clarinda............ CLARINDA NATIONAL BNK Ed. F. Rose.......... H. E. Parslow............ E. G. D ay........ ........ Clarksville........ GERMAN FARMERS SAVING J. H. Hickle.......... F. H. Brockmann Geo. A. Stew art........ Conrad.............. CONRAD STATE BANK........ John Morrow, Jr.. P. Thos. E vans.......... E. L. Guild................ Davenport........ SCOTT CO. SAVINGS BANK. . I. H. Sears. . . . ___ H. F. Peterson............ J. H. H ass.................. Davenport........ GERMAN SAVINGS BAN K .. Chas. N. V o s s .... Jens Lorenzen.......... . Ed. Kaufmann............ Defiance............ THE BANK OF DEFIANCE. . L. F. P otter.......... W. H. Freeman. . . . T. R. G. Penniston........ Dunlap.............. FIRST NATIONAL BANK. .. T. F. Jordan.......... A. N. Jordan.............. D ysart.............. DYSART SAVINGS B A N K ... H. P. Jensen........ E. F. S u it ................... Henry Mohr................ Eldora................ CITIZENS SAVINGS BANK. . J. F. Hardin........ N. R. Van Avery........ L. W. Harris.............. Elkader............ FIRST NATIONAL B A N K ... R. E. P rice:.......... Wm. Larrabee............ A. J. Carpenter.......... Estherville........ BANK OF ESTHERVILLE . . F. H. Rhodes........ F. H. Rhodes.......... . Fairfield............ IOWA STATE SAVINGS BNK Jos. Ricksher........ E. A. Howard............ 0 . F. Fryer................ F ayette.............. STATE BANK OF FAYETTE j . A. Claxton........ J. C. Babcock............ C. R. Carpenter........ Garner.............. FARMERS NATIONAL BANK C. K. Moe.............. G. E. Troeger............ Isaac Sweigard............ Garwin.............. GARWIN STATE BANK........ G. H. A ustin........ S. S. Dobson.............. Edwin Beery.............. Granville............ EXCHANGE BANK ................ N. H. Graff............ H. C. Graff.................. H artley.............. GERMAN SAVINGS BANK. . J. T. Conn.............. Wm. T. V oss............. G. E. Knaack.............. Hopkinton........ HOPKINTON STATE BANK. F. B. D o o little .... F. E. W illiamson. . . . F. C. Reeve................ Iowa F alls........ HOME SAVINGS BANK........ J. M. Rinehart. . . H. L. W alker............ W. S. W alker............ Ira...................... FARMERS SAVINGS BANK. B. F. Baker.......... Wm. Sadler................ W. I. Price.............. Knoxville.......... MARION CO. NATIONAL BK 0 . P. W right........ Chas. Perry................ 0 . L. W right.............. Lake C ity........ CITIZENS BANK .................... E. W. Townsend.. S. A. Townsend........ R. F. Townsend........ Le Mars............ LE MARS SAVINGS BAN K .. J. L. M itchell.. . . F. E. Frisbee.. A. W. D u la .. Lime Surines.. EXCHANGE STATE BANK . À. J. Cray___ ___ C. P. N ash............ A. J. Craig................ Little Rock. . . . FIRST NATIONAL BANK. .. . M. D. Bilsborough. August G. F. Ross. . . H. L. Bilsborough. . . . Lyons................ IOWA STATE SAVINGS BK. C. H. Ingw ersen.. M. W. Ingwersen. . . . Gustav Gradert.......... Mason C ity. . . IOWA STATE BANK.............. V. C. Kotchell___ T. W. Keerl................ McCausland. . . . McCAUSLAND SAVINGS BK r,. Litscher............ F. J. Lessin................ F. E. Ringey.............. Manchester. . . . DELAWARE CO. STATE BK. W. C. C aw ley.. . . R. W. Tirrill.............. Chas. J. Seeds............ Meridan............ CHEROKEE CO. STATE BNK H. H. Lamoreux.. H. J. Prescott............ W. V. Andrews........ Mitchell............ MITCHELL SAVINGS B N K .. A. C. Prime.......... Henry Indra................ C. A. Randall............ M odale............. STATE SAVINGS BANK. .. . fohn Young............ W. J. Burke................ H. M. S ilsb y___ Milford.............. MILFORD NATIONAL BANK Milton S. D ew ey .. H. H. Overocker. .. . H. S. Abbott.............. New L ib erty.. GERMAN SAVINGS BANK. . Wm. Treimer........ T. C. B olte.................. Geo. Lueders.............. New Sharon... FIRST NATIONAL B A N K ... G. H. Barbour.. . . G. M. Garner.............. Olin.................... CITIZENS SAVINGS BAN K .. W. H. Crain.......... Gilbert B layney.......... H. W. Flenniken........ Orange C ity. . . NORTHWESTERN STATEBK W. S. Short.......... W. F. Rieckhoff. . . . G. J. Slob.................... Ossian................ CITIZENS BANK .................... R. W. Anderson.. G. F. Gunderson........ M. T. K lein................ Oxford Ju ct. . . CITIZENS EXCHANGE BNK L Zeller.................. L. F. Zeller............ . Rock Rapids. . . LYONS CO. NATIONAL BNK 0 . P. M iller.. . . . . M. A. Cox.................... Rockwell............ ROCKWELL BANK ................ Geo. H. Felthous.. B. A. W allace............ Rockford............ ROCKFORD STATE BA N K .. F. C. J o h n so n .... F. C. Siegfried............ Schaller............ STATE BANK OF SCHALLER W. J. Howard. . . . C. A. Edson................ T. T. Edson................ Stuart................ FIRST NATIONAL B A N K ... Tno. W. F o ste r ... Jacob F. Blackman.. A. C. Curtis................ Traer.................. FIRST NATIONAL B A N K ... R. H. Moore.......... John Steffen................ W. T. Ladd................ Turin.................. THE TURIN BANK.............. C. W . Bisbee........ T. H. P eters................ Wapello............ WAPELLO STATE SAVINGS G. W . Schofield... J. F. H eins................ T. D. Deihl.................. W are.................. THE BANK OF W ARE............ J. H. Allen............ R. G. Cundy................ West Branch... WEST BRANCH STATE BNK Tno. Pearson.......... J. L. Crozer................ T. F. Adair.................. W est Branch.. CITIZENS SAVINGS BANK. 0 . C. P en n o ck .... L. T. Leech.................. P. V. N. Myers.......... Waterloo.......... WATERLOO LOAN & TR CO. F. F. McElhinnery B. J. Howery............ W. R. Jameson (Sec) SOME BUSINESS LOGIC. The sureness of a thing is for the other man. The man who minds his own business will get that of others. A smile is a better mask than a frown. A combination of church member and business man beats the devil. Don’t fight unless you must, but if you must, don’t fight shy. We succeed by shrewdness, others by trickery. There isn’t enough in anything for a hog and a man. He who stands on his rights often gets left. At times be bold— at all times prudent. Master all the details of your business. Make good, use of other people’s brains. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CAP. 5 0.000 5 0.000 DEP. ; 131,000 109.000 15*000 128.000 15*000 30.000 340.000 50.000 400.000 15 000 274.000 40.000 250.000 4,450,000 600.000 10,000,000 200.000 40.000 150.000 30.000 300.000 87,000 40.000 410.000 50.000 275,000 15*000 740,518 60,000 35.000 340.000 165.000 25.000 225.000 30.000 20.000 40.000 3 5 ,ooo 10,000 60.000 75.000 25.000 25.000 30.000 75.000 50.000 10,000 100,000 30,000 10,000 25.000 25.000 10,000 50,000 20.000 50.000 10,000 75.000 30.000 25.000 40,000 25,000 100,000 100,000 200.000 285.000 100,000 5 o>905 500,000 228,465 175.000 125.000 168.000 330.000 270.000 118,000 575,000 i 39>970 60,000 85,000 110,000 160,000 166,000 120.000 275.000 296,000 140.048 375,000 250.000 100.000 203,000 240.000 3 7 5 >ooo 25,000 190.000 70,000 20,000 100,000 225,000 Don’t be in too much of a hurry to get rich. Listen well, answer cautiously, decide promptly. Treat failures as stepping stones to future successes. Always know more than you are expected to know. Don’t knock any other man’s business. Boost your own and that will keep you busy. The grand object of system is to save time, because the greatest waste in mr-t business is the waste of time. A single plan put into successful operation is worth a thousand vapory schemas that never can and never will mature. Don’t take any foolish chances, but remember, at the same time the old adage, “ Nothing risked, nothing gained.” TH E 56 NORTHWESTERN April, 1909. BANKER € N A P O L E O N . Napoleon’s necessities, his w ar w ith England, his desire for money to aid in prosecuting the w ar, his determination that England should not gain the territory, and his wish to raise up a rival to England on sea and land, marked to the eternal advance n ent of the United States of representative institu tions, and of the world’s progress, J E F F E R S O N . President Jefferson wanted New Orleans in order to control the mouth of the Mississippi on the east side, and offered to guarantee to Napoleon all the territory w est of the Mississippi, if this inducement became necessary, in order to get that town. Looking for a City, he had an empire thrust upon him. T H E N A T IO N A L B A N K O F C O M M E R C E IN S T . L O U IS O c c u p ie s th e s ite o f th e h is to r ic b ir th p la c e o f th e g r e a t C o m m o n w e a lth s c o n s titu tin g th e L o u is ia n a P u rc h a s e : A r k a n s a s , C o lo rad o , I o w a , K a n s a s , L o u is ia n a , M in n e s o ta , M is s o u ri, M o n ta n a , N e b ra s k a , N o rth D a k o ta , O k lah o tn a , S o u th D a k o t a a n d W y o m in g . I ts c a p ita l a n d surp lus o f $1 5 ,0 0 0 ,0 0 0 .0 0 a lso rep resen ts th e e x a c t p u rch a se p ric e o f th is v a s t e m p ire , to w h ic h th is b a n k is la r g e ly in d e b te d fo r it s p re s e n t to t a l resou rced o f $ 9 5 ,0 0 0 ,0 0 0 .0 0 . Hie Fidelity & Casualty Company 97 to 103 Cedar Street, NEW YORK CITY Assets ...... ; -B.......................... ..................................................... $ 7I537I429-91 Capital and Surplus ................................................. . . . . .......................................... 2,013,400.24 Losses paid to January 1, 1 9 0 8 . . . . . . ................................................... ............... 26,629,131.90 T his Company grants insurance as follows: Bonds of Suretyship for persons in positions of trust, Fidelity Bonds, Burglary, Plate Glass, Steam Boiler, F lyW h eel, Employers, Public, Team s, W orkm en’s Collective, Elevator and General Liabil ity, Personal Accident, Health, Physicians Liabilty and Bonded Attorneys’ List. OFFICERS: George F. Seward, President Frank E. Law, 2nd Asst. Sec. George W. Allen, 3rd Asst. Sec. Robert J. Hillas, V. Pres. & Sec. Henry Crossley, Asst. Sec. D IR E C T O R S : W illia m P . D ix o n , D ix o n & H o lm es A lfr e d M . H o y t, B a n k e r G eo . E . Id e , Pres. H o m e L ife Ins. C o . W m . G . L o w , C o u u selo r-a t-la w W illia m J M a th e s o n , M e rc h a n t H e n ry E . P ie r re p o n t, R e tire d Jo h n L . R ik e r , o f J. L- an d D . S. R ik e r W . E m le n R o o se v e lt, B a n k e r A le x a n d e r E- O rr, R e tire d M e rc h a n t G e o rg e P . S e w a rd , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A u re liu s B . H u ll, R e tir e d M e rc h a n t Joh n G . M c C u llo u g h , E r ie R a ilro a d Co. A n to n A . R a v en , A tla n tic M u tu a l In s .Co. D u m o n t C la rk , Pres. A m e ric a n E x c h a n g e N a t io n a l B a n k P re s id e n t
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