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Des Moines, Iowa, August, 1 90 4 .
Volume N.
Number 8
THE NATIONAL BANK OF NORTH AMERICA S S p f f i T S r
C H IC A G O
C a p ita l $ 2 , 0 0 0 , 0 0 0 . 0 0
--------T H E ---------
Iowa Rational Bank
DES MOINES
J*
Statement June o, t004
RESOURCES
Loans and Discounts................. $ 959,376.51
O verdrafts...................................
11,151.12
U. S. B o n d s................................
300, 000.00
Real E state.................................
2 375.00
Cash and due from Banks. 606 739.65
$ 1,879,642.38
LIABILITIES
Capital S tock.......................
Undivided P ro fits.....................
C ircu lation..................................
$100,000.00
25,945.65
91,750.00
D eposits................................. I 661 946.73
$ 1,879,642.38
H. S. BUTLER,
President
H. T. BLACKBURN,
V ice Pres. & Cashier
If, fo r any reason, you contemplate a
change or Division o f your A ccount, we shall
be pleased to hear from you, believin g we can
handle your business to your satisfaction.
S u r p lu s & P rofits $ 7 4 2 , 3 4 7 . 3 8
Contents,
Bankers National Bank
OF CHICAGO, ILL.
| Capital, Surplus 8 Profits $ 3 ,0 6 7 ,7 5 1 1
E D W A R D S . LACEY, P r e s id e n t . JOHN C. C R A F T , V ic e -P r e s i d e n t .
FR AN K P. JUDSON, C a s h i e r . CHAS. C. W ILLSON, A s s ’ t C a s h ie r
RALPH C. WILSON, A s s ' t C a s h ie r .
Jt,
COMPARATIVE STATEMENT, SHOWING INCREASE.
DEPOSITS.
March 28, 1895
March 28, 1898
March 28, 1901
June
9, 1904
<5^U. S. D E P O S I T O R Y ^
S?
Editorial 5
An Important Decision
- 5,
6
Lineville Bank Failure
- 6,
7
Bank Money Orders 7,8, 9
Counterfeit $100 Bill Afloat
9
The Proposed Money Order System
9
A New Fire Company
9, 10
Nebraska Prosperous 10
Had No Use for Either
10
Death of Fred Heinz 11
North Dakota Bankers’ Associa
- 11 , 12
tion
The Bankers’ Trust Company7
Grows
- 12,113
New National Bank for Siouxx
- 13, 14
City Nebraska Bank Report
14
14
Self Identified
A Bank Director
15
Nebraska News and Notes - 15-19
- 19-22
Minnesota News and Notes
- 22-24
Dakota News and Notes
- 25-38
Iowa News and Notes
General News and Notes - 38-39
39
Mr. Dooley’s Return 42
The Bankers’ Exchange
- 46, 47
Special List of Iowa Banks
--------- TH E---------
........... ............................
........................................
........................................
$3,401,237.49
5,838,773.09
12,317,795.00
............................................ 13,255,413.81
New Business Desired and Unexcelled Facilities Offered.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J u l i u s S P o m e r o y , C a sh ie r
F r a n c i s V . P u t n a m , A ss ’ t C a sh .
Citizens
National
B a n k j^
O ES
M O IN E S ,
I0 W R
J. G . R o u n d s ......... P re s id e n t
J. C a l l a n a n — Vice-Pres
G e o . E. P e a r s a l l ...Cashier
G e o . C o o p e r , Asst. Cashier
CAPITAL,
$ 2 0 0 ,0 0 0
SURPLUS,
1 0 0 ,0 0 0
ACCOUNTS S O L IC IT E D
Davenport Savings Bank,
DAVENPORT, IOWA.
Capital,
$ 300,000.0(M
Undivided Profits,
166,353.33
Deposits,
- - 3,485,138.20^
* * * Officers * « «
ANTHONY BURDICK, Pres.
LOUIS HALLER, Vice-Pres
HENRY C. STRUCK, JR., Cashier.
O T T O L. LADENBERGER, T e lle r.
» » * Directors « « «
A . B u r d ic k
L o u is H a l l e r
A. S t e f f e n
W. O. S c h m i d t
T h o m as Scott
J. F. D ow
H. K o h r s
W. H. W i l s o n
H. C. S t r u c k , J r .
Per Cent Interest Paid on Deposits. Money Loaned
Real Estate Security in the State of Iowa.
4 on
August, 1904.
THE NORTHW ESTERN BANKER.
2
Commercial national Dank
Chicago, Illinois
S T A T E M E N T OE T H E C O N D I T I O N OE
The National Bank of Commerce in St. Louis.
JUNE 9 , 1904
EST AB LISH ED , 1864.
Capital, $ 2 , 0 0 0 , 0 0 0 . 0 0
Surplus $ Undivided Profits, $ i ,6 8 2 ,344.58
O FFICER S.
) aa *e s H. E c k e l s ,
President.
osEPH T T a l b e r t , Vice-President and Cashier.
)a v i d V e r n o n ,
2d Vice-President.
N . R .-L o s c h ,
t
- Assistant Cashier.
H. C. V e r n o n ,
Assistant Cashier.
G. B. S m i t h ,
- Assistant Cashier.
H. E. S m i t h , - Auditor.
M. K r e l l , Manager Foreign Banking Department.
RESOURCES
Currency and C o in ............... $8,758,076.65
Checks and Cash Item s........ 1,559,019.48
E xch an ge............................... 9,615,833.84
United States Bonds at Par,
Bonds, Stocks, e t c ............
Loans and Discounts...........
Banking House....................
$ 1 9 ,9 3 2 ,9 4 9 .9 7
8.402.000.
5,224,834 46
34,938,080.70
1.000.
i
D IR E CTO R S.
F r a n k l in M a c V e a g h ,
P a u l Mo r to n ,
W i l l i a m I. C h a l m e r s ,
D a r iu s M i l l e r ,
R o b e r t T . L in c o l n ,
C h a r l e s F. S p a l d i n g ,
E. H. Gary,
J o seph T . T a l b e r t ,
J a m e s H. E c k e l s ,
000.00
$ 6 9 ,4 9 7 ,8 6 5 .1 3
LIABILITIES
C apital................................................................
Surplus and Profits...........................................
Circulation................ .........................................
U. S. and Municipal Bond Account..............
Pension Fund.....................................................
Reserve for Taxes.....................................
$7,000,000.00
8,583,696 29
6,976,450.00
110,900.00
70,664.24
40,000.00
Deposits ..................................................................
4 6 ,7 1 7 ,0 5 4 .6 0
$ 6 9,497,865 .13
Liberal Terms and the Best Facilities are A ccorded to
Banks and Bankers fo r the Transaction of Domestic and
Foreign Business. B y Special A rrangem ent Correspond
ent Banks are enabled to D raw their Own Drafts Direct on
all the Im portant Cities and Banking Towns of the World
O f f i c e r s — W . H. Thompson, President; J. C. Van Blarcom, V ice
President; B. E. Edward«, V ice President; F. E. Marshall, V ice Presi
dent ; Jno. Nickerson, Vice President: J. A. Lewis, Cashier; C L.
Merrill, Assistant Cashier; W. B. Cowen, Assistant Cashier; F. W .
Wrieden, Assistant Cashier; G. N. H i.chcock, Assistant Cashier.
C ircu la r L e tte r s o f C re d it I s s u e d fo r T r a v e le r s —G o o d E v e r y
w h e re . S p e cia l A ll-A m e r ic a C r e d its —A v a ila b le in N o r th an d
S o u th A m e r ic a . D o m e s tic L e tt e r s o f C r e d it —G o o d T h r o u g h
o u t th e U n it e d S ta tes. C o m m e r cia l C r e d its G ra n te d to I m
p o r t e r s . C able T r a n s fe r s . B an k P o s t R e m it t a n c e s : : : : : :
Accounts of Individuals, Manufacturers, Merchants, Cor
porations and Banks Solicited Upon Favorable Terms.
SECURITY
S t. L o u is
O ffic e
ESTABLISHED 1884
NATIONAL BANK
UNITED STATES
DEPOSITORY
SIOUX CITY, IOWA
Capital
-
$ 2 5 0 ,0 0 0 .0 0
Surplus and Profits
Deposits
W.
-
-
-
P. M a n l e y , President.
T.
1 1 7 ,5 3 7 .0 0
2 ,1 5 5 ,4 6 2 .1 7
C. L. W
r ig h t ,
Vice-Pres.
A. B l a c k , Cashier.
State Security Bank
Sioux Rapids, Iowa.
Capital, $30,000.00.
Surplus, $4,000.00
Deposits, S200.000.00.
C. B. M i l l s ,
D IR E C T O R S:
F. 8. N e e d h a m ,
A r is l e e n M o e,
51S
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
O liv e
S tre e t
J. H. M c C o r d ,
A d e l b e r t T ym eson , J r .
O FFIC E R S s
J. H. McCORD, President.
C. B. MILLS, Vice-President.
ADELBERT TYMESON, JR ., Cashier.
iT iw in f i
p i t t 'i.'fM'i'w
-in w r »
00
August, 1904.
TH E NORTHWESTERN BAN KER
THE
FIRST
NATIONAL
BANK,
o f
e m e A G O .
Corner Monroe and
Dearborn Streets.
T r a v e l e r ’ s C r e d it s issued,
available in any part of the world.
T r a n sf e r s o f Mo n e y M a d e
b y T e l e g r a p h and C a b l e and
E x c h a n g e D r a w n at customary
PEOPLE'S SAVINGS BANK.
usance, on the principal cities of
the United States, Europe, Japan,
China, and the East Indias.
All kinds of F ir s t -C l a s s I n
v e s t m e n t S e c u r i t i e s dealt in
constantly on hand and for sale at
current rates; a full line of G o v
e r n m e n t B o n d s , Municipal and
Local Bonds, Choice Railroad
Bonds.
Collections carefully made and
proceeds promptly accounted for
on moderate terms. Accounts of
banks and bankers solicited.
DES MOINES, IOWA.
CAPITAL—$ 1 0 0 ,0 0 0 .
SPECIAL ATTENTION TO IOWA COLLECTIONS.
Report of Condition, Auditor's Call, April 30,1004.
• « Resources « «
44
BANK OFFICERS:
Loans and Discounts.....................................
$ 919 937 77
U .S . B o n d s...................................... . .............................
25|OOO'.00
Real Estate.........................................................................
12,850.00
Furniture.............................................................................
2,000.00
Overdrafts .......................................... ................... ............
4 531.24
Cash and Exchange.................................................. ! ! ! " !
216* 97ô! 93
J a m e s B . F o r g a n , President.
D a v i d R. F o r g a n , Vice-Pres.
G e o r g e D . B o u l t o n , Vice-Pres.
H. H . H it c h c o c k , Vice-Pres.
R ic h a r d J. S t r e e t , Cashier.
H o l m e s H o g e , Asst. Cashier.
A u g u s t B l u m , Asst. Cashier.
F r a n k E . B r o w n , Asst. Cashier.
C h a r l e s N. G i l l e t t , Asst. Cash.
F r a n k O. W e t m o r e , Asst. Cash.
T otal....................................................................... $1,181,3 5.94
« « Liabilities « «
Capital Stock ...................................................................... $ 100,000.00
S u r p lu s -- ...........................................................................
25,000.00
Other Profits.....................................
30,877.04
D ep osits..............
1,025,458.90
M. D. W itkowsky, Auditor.
$1,181,335.94
Total...............
E m il e K . B o i s o t ,
CAPITAL,
and
Manager Bond Department.
SURPLUS,
Mgr. Foreign Exchange Dep’ t.
« * Officers • «
F r e d I. K e n t ,
M a r t i n F l y n n , President.
D. W. S mottse , Vice-President.
C. H. M a r t i n , Cashier.
F r a n k P. F l y n n , A ss’ t. Cashier.
Max Ma y .
$13,000,000.
A REGULAR BANKING
BUSINESS TRANSACTED.
Asst. Mgr. For’n Exchange Dept.
O r v i l l e P e c k h a m , Attorney.
J a s . D. W o l e y , Asst. Attorney.
44 +4 +44444444 +4+++++4444 ++++44 +44+4++4 *
Chartered by the National Government 1868.
*
*
Full Paid Capital 4
One Million Dollars.
N o w is t h e T i m e f o r Liv e A g e n t s
to J o i n t h e A g e n c y F o r c e o f ^
4
4
4
4
4
4
4
*
4
4
4
4
4
TH E NATIONAL
Life Insurance Company
of the United States of America
4
4
4
4
4
4
4
A ssets
OVER $L,694,000
Insurance in Force
OVER $40,000,000
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
||»
Principal Branch Office, National Life Bldg., Chicago 4
4
4
► 444+4+444444+444444444+++4444++4++444X
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Surplus and Profits, $ 1 0 0 ,0 0 0
E S T A B L I S H E D 18 7 0 .
Merchants National Ranh
o f
B U R L I N G T O N . IO W A .
J. L. EDWARDS, P r e s i d e n t .
|
W. E. BLAKE, V i c e -P r e s i d e n t .
H. J. HUNGERFORD, A s s t . C a s h ,
YO UR
ACCOUNT
U S V IT E D .
4
4
P. M. STARNES, President
Capital, $ 1 0 0 ,0 0 0
ítiíiíittííííjiti-ít
The M
utual Life In
0
“ c
®
0
£f
R I C H A R D A . M c C U R D Y , P r e s id e n t
Announces to its hundreds of thousands of policyholders through
out the w orld that its funds held for their protection have
now reached the enormous sum of over
400 Million Dollars
Many millions more than the assets o f any other life insurance
company in existence. This Company has returned to policy
holders the stupendous sum of over
020 Million Dollars
Over 190 millions more than any other life insurance company in
the world has disbursed. This excess over any other com pany is
greater than the combined capital of the Bank of England, Bank
of France and the Imperial Banks of Germany and Russia.
T h e s e u n e q u a lle d r e s u lt s are th e b e s t g u a ra n te e o f
fu tu re r e tu r n s to p o lic y h o ld e r s .
F L E MI NG B R O S . ,
Managers for Iowa and Nebraska, Des Moines, Iowa
|
jj
|
August, 1904.
TH E NORTHWESTERN BANKER.
4
Designers and Manufacturers of
A
B a n k is S tr o n g o r N o t in P r o p o r t io n
to
High Grade Bank and Office Fixtures and
Furniture
it s C ap ita l an d
S u r p lu s a n d A b i l i t y o f it s M a n a g e m e n t to I n v e s t its F u n d s
In Fine Cabinet Woods, Brass, Bronze, Iron and Marble.
5,000 banks fitted
up by us. Send for
catalogue.
r e-igns and estitimates furnished
on application.
O E S M 0 IN E S
S a v in g s B a n k
S ta te m e n t o f C o n d itio n a t C lo se o f B u s in e s s
J u n e 9, 1 9 0 4 , as M a d e to A u d it o r o f S ta te
RESOURCES:
Bills Receivable —
Banking House---Cash and Exchange
Our desks delight all purchasers. Chairs to
suit the most Critical. Steel Framed Type
writer and all around Chairs our one spec-
$3,207,798 75
95,661.48
1,236,888.14
TH E A. H. A N D R E W S C O M PAN Y,
$4,540,348.37
Total
LIABILITIES:
Capital Stock...................................
Surplus and Profits............ - ...........
Deposits............................................
1 7 4 a n d 1 7 6 W a b a s h A v e n u e , C h ic a g o .
$ 500,000.00
111,794.34
3,928,554.03
FORT DODGE MFG. CO.
U, 540,348.37
Total.
W e offer our customers not only facilities resulting
from the largest comm ercial business in Iowa, but
a security fo r their deposits, capital and surplus,
and stockholders’ liability amounting to $1 , 100, 000.
Honestly believing, then, that we can make an
acccount with us of advantage to you and assur
ing you o f our earnest desire to please you in
every detail— we invite your business...................
FORT
DODGE,
IO W A
Bank, Store and Office Fixtures
------------ ----------------------------------------------------------------- —
--------------------------------------------------------------------
Interior Finish for Bank Buildings
OFFICERS AND DIRECTORS
P M C a s a d y , President.
S im o n C a s a d y , V ice President.
H o m e r A. M i l l e r , Cashier.
C. T. C o l e , J r ., Ass t Cashier.
J a s . J. B e r r y h i l l .
L. H a e b a c h .
tao w
W in d s o r .
E dw . A. T em ple.
E. C. F i n k b i n e .
N . S. M c D o n n e l l .
G . M. H i p p e e .
TILE FLOOR A N D
METAL
CEILINGS
Prompt $©rwi©e a Specialty
a a
E S T A B L IS H E D
fow a
IS S O
P r in tin g
© n m p a n ir
D ES MOINES
D a n k S t a t io n e r s
a a
Write for Samples a n i Price®
T he M erchants N ational Bank
K E N N E T H C L A R K , P r e s id e n t
C. H . B I G E L O W , V ic e -P r e s id e n t
GEO. H . P R IN C E ,
C a sh ier
of st. paul
H . W . P A R K E R , A s s is t a n t C a sh ie r
H . V A N V L E C K , A s s is t a n t C a sh ier
S T A T E M E N T AT C L O S E OF B U S IN E S S J U N E 9, 1 9 0 4 .
Loans and Discounts,
U. S. Bonds at par, .
Other Bonds and Stocks, .
Banking House,
Cash and Due from Banks,
$ 4,038,840.46
700,000.00
121,743.50
190,000.00
2,131,070.23
Capital Stock,
Surplus .
Undivided Profits,
Circulation,
Deposits,
$ 7,181,654.19
$ 1 , 000 , 000.00
275.000. 00
61,671.05
420.000.
00
5,424,983.14
$7', 181,654.19
DIRECTORS:
C ra w fo rd L iv in g s t o n ,
K e n n e th C lark,
J. H . S k in n er,
L o u is W . H ill,
G eo. H . P rin ce ,
D. R . N o y e s ,
E . N . S a u n d e rs,
V . M . W a tk in s ,
L . P . O rd w a y ,
F . B. K e llo g g ,
C. H . B ig e lo w .
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Federal Reserve Bank of St. Louis
— O O P P F S P O N B E N C E A N D P E R S O N A L IN T E R V IE W S IN V IT E D =
.... —
-
The Northwestern E^nfier.
V
olum e
A B a n k e r s J o u r n a l fo r the N o rth w est.
X.
DES MOINES, IOW A, AUGUST, 1904
$2.00 P e r A n n u m .
THE NORTHWESTERN BANKER,
PUBLISHED BY
Ti)e Northwestern ganger Pab. Co.,
D E S M O IN E S , IO W A .
A m onthly Bankers Journal, devoted to the interes's of bankers in
the Northwest.
,
, . ,
, _ ,
.
Communications and n e v s items o f local interest tb bankers m
this territory are requested.
Entered at Des Moines, Iowa, as second class matter.
S u b scrip ts , $2.00 per annum: single copie , 20 cents.
Advertising rates on application.
The recent death of S. L. Ely,, cashier of the
Union Savings Bank of Davenport, causes great
sorrow among his many banking friends through
out the state. Mr. Ely was possessed of great en
ergy and purpose. Whatever he had to do he be
lieved in doing with all his might and thorough
ness. He accomplished much, even though cut off
while yet a young man. He had the foundation
well laid for a lifetime of increasing success and
honor. But, alas! Death waits not until men round
out the full measure of their success. Many times
the grim reaper waits not for the full harvest, and
so it was with friend Ely.
Nearly all of the Western State Bankers’ Asso
ciations have passed resolutions condemning in the
strongest terms the bucket shop gambling that is so
prevalent throughout the country. Bankers can do
much toward stopping this evil by warning their
customers against the inevitable result and they
should even go out of their way to do so. Bankers
themselves are sometimes led into such gambling
and always with disastrous results. No banker,
worthy of the name, will allow himself to follow a
course so opposed to legitimate business transac
tions and so contrary to the principles of good bank
ing.
The writer has just returned from a tour of in
spection through the Northwest, including Iowa,
Nebraska, the Dakotas and Minnesota. Crop condi
tions are splendid and prospects for larger and
better crops than for several years. Banking con
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Federal Reserve Bank of St. Louis
N u m b e r 8.
20 C t s . P e r
copy.
ditions are good. With the exception of a comparativelv small strip of country where crops have been
below normal for two years money is plentiful and
rates low. Speculation has been almost entirely
eliminated and business generally is now conducted
on a very conservative basis. Any probable busi
ness disturbances arising from political agitation
have been in a large measure discounted and the
entire Northwest will have another generous allow
ance of prosperity. With the good harvests now
almost assured and present markets this section will
surpass any former marks of general good times.
The coming convention of the American Bank
ers’ Association, to be held in New York City, will
be a notable meeting. It is expected that fully five
thousand bankers and friends will be in. attendance.
No member of the association will miss this con
vention without an exceptionally good reason.
There will be several bankers’ special trains out of
Chicago and special cars from Minneapolis, Omaha,
Des Moines and other northwestern cities. Every
banker is looking forward with pleasure to the ex
citement that will follow the rounding up of the
“ money devil” in W all street and it is confidently
expected that J. P. Morgan and J. D. Rockyfeller
will give a few pointers in regard to the money
business.
An Important Decision
The Western Union Telegraph Company lost
again in the hard fought case in which Schriver
Brothers of Britt figured as the plaintiffs. The jury
returned a verdict for the plaintiffs for the full
amount involved in the suit, or $10,080.
The case is one of unusual interest, involving the
liability of the telegraph company in the case of
messages received over the telephone. This was its
second trial. On its first appearance before the
court in 1892, the verdict of the jury was also
for the plaintiffs. The defendant took the case
to the United States circuit court of appeals, and it
was argued in St. Paul in May, 1903. The court
handed down an opinion in 1904, reversing the case
6
THE NORTHWESTERN BANKER.
Merchants
National
Bank Cedar Rapids
J O H N T. H A M IL T O N , Pres.
P . C. F R I C K , V i c e - P r e s .
C H A S . E. P U T N A M , C a s h i e r .
August, 1904.
A
P R O G R E S S IV E
C O M M E R C IA L
BANK
J A S . E. H A M I L T O N , As s t C a s h .
o f
R [ C O N D U C T E D A LO N G
C O N S E R V A T IV E
& MODERN
LINES
R E S O U R C E S , $ 1 ,6 0 0 ,0 0 0 .0 0 .
and remanding it for new trial on account of an er
ror in the instruction to the jury.
The case dates back to 1892, when one L. J.
Barnes was buying cattle in the name of his wife
and doing his business through the Bank of Deni
son. His custom was to pay by check or draft on
the bank, and then to pay the bank by sight drafts
on commission men in South Omaha, where he sold
his stock. On March 13, 1892, he bought $9,000
worth of cattle of Shriver Bros, at Britt and tender
ed in payment a check on the Denison bank, which
the Shrivers refused to accept. Barnes agreed to
go to Denison and have the bank wire if they would
accept the paper. The Shrivers instructed the Com
mercial Bank of Britt to act as their agents and to
ship the cattle on receipt of this telegram. The tele
gram arrived a few days afterward, bearing the sig
nature of the bank, and the cattle were shipped to
Barnes at Denison. He in turn shipped them to
Omaha and sold them to Wagner & Co.
Barnes wired Shriver Brothers to come and get
their cattle, as he could not pay for them. On find
ing the status of affairs, Shrivers demanded pay
ment from the Bank of Denison and the bank de
nounced the telegram as a forgery. The operator
for the Western Union at Denison stated that the
message had been telephoned to him, and he was not
able to identify the sender. Barnes was arrested by
a Sioux City firm, was in jail for a day or two and
then instituted bankruptcy proceedings. He was re
leased on bond and went to Fayette county on a
visit. While there he was arrested on an old in
dictment and sent to the penitentiary, where he now
is.
Shriver Brothers began suit to recover -their
money and the case has been in the courts since
that time.
Fort Dodge.— The jury in the case of the Bank
of Havelock vs. the Western Union Telegraph
Company, acting under the instructions of Judge
Reed, returned a verdict for the defendant. The
case was in some respects similar to that of Shriver
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
l O W
a
Brothers vs. the Western Union, but involved an
other point of law.
As in the case of Shriver Brothers, the trouble
all started over the artful actions of L. J. Barnes,
the cattle buyer, but this time the responsibility of a
message transmitted to the telegraph company by
telephone was not involved, but the question of
whether or not a chattel mortgage can be released
on receipt of a message before the draft is received.
The amount involved in the case was $3,500.
Shriver Brothers ag'ain figure in the case as the
buyers of the cattle from Barnes, and a chattel
mortgage was held for these cattle by the bank.
Barnes, as in the Shriver case, offered his check on
the Bank of Denison. The check was refused and
the maneuver of the Shriver case was repeated,
Barnes offering to go to Denison and have the
bank wire if his draft was accepted.
The message, signed by the bank, arrived in due
season and the Bank of Havelock released the mort
gage without waiting for the draft. In the mean
time Barnes was arrested. Not long after the draft
came and was protested by the Bank of Denison,
which repudiated the telegram as a forgery. On
this basis the Bank of Havelock brought suit against
the Western Union for the amount of the morterape,
$3, 500When the case came to trial Judge Reed allowed
the motion of Attorney Call to instruct a verdict for
the defendant, on the ground that the plaintiff
should not have released the cattle until the draft
was received, as the draft was the authority for the
release and not the telegram.
Lineville Bank Failure.
The following article from the Corydon TimesRepublican probably gives the “ true inwardness”
of the affairs of the defunct Bank of Linevelle so
far developed, as the statements it contains were
probably obtained from Hon. Lewis Miles and C.
W . Steele, who, we are informed, have been retain-
August, 1904.
THE NORTHWESTERN BANKER.
THE NATIONAL SHOE
AMD LEATHER BANK
OF THE CITY OF HEW YORK
S ta te m e n t
June,
7
The Union Stock
S o u th
Yards National
Omaha,
Neb.
Bank
9, 1904.
C a p ita l
RESOURCES.
Loans and discounts
U. S. Bonds to .-ecure circulation
Premium on U. 8. Bonds
Other stocks and bonds
Real estate-ba n kin g house
* Cash on hand and due from banks
-
$6,802, 220. 55
100, 000.00
2,500. 00
232,987.89
460,0 0.00
3,876,490.00
$11,474,207 83
LT.ABTLTTIES.
Capital stock
.
.
.
.
.
Surplus and profits
.
.
.
.
Taxes anticipated
.
.
.
.
Circulation
.
.
.
.
.
D E P O S I T S ........................................................
-
-
$1, 000, 000.00
360,190.99
5,000.00
99,300.00
10,009,716.84
-
S u rp lu s P r o fiits
$ 3 0 0 ,0 0 0 .
-
1 0 0 ,0 0 0 .
Located at the yards. Has exceptional facilities for
handling promptly and efficiently the banking business
arising out of the purchase or sale of Live Stock at the
South Omaha Market.
$11,474,207.83
A c c o u n ts a r e in vited .
W ILLIAM MOYER, President.
JOHN A. HILTNER, V. Pres. & Cashier.
GILBERT B. SAYRES, Asst. Cashier.
ALFRED G M cG RATH , Asst. Cashier.
AUGUSTUS C. CORBY, Asst. Cashier.
Our facilities are equal to the legitimate demands
of Depositors and Correspondents
The induce
ments we have to offer are as liberal as Conserva
tive Banking will permit.
ed as attorneys by A. L. Rockhold, late cashier of
the Bank of Eineville:
In Bad Condition.
The affairs of the Bank of Eineville, which only
recently quit business and was succeeded by the
First National Bank of Eineville, have been found
to be in a very bad condition. In fact there are so
many worthless notes and overdrafts that it is ques
tionable whether the stock is enough to settle the
losses and we have heard some reports that the
stockholders will have to put in considerable mon
ey over their stock to square the indebtedness of the
bank, some even placing it as high as from $30,000 to $50,000 above the stock.
The Bank of Lineville was organized about
twenty-two years ago and its charter was for twenty
years. A. L. Rockhold has all the time been the
cashier and in recent years his son Pearl has been
the assistant cashier. When it closed business Ben
Wasson was the president. The bank was supposed
to be one of the strongest finansial institutions in
Southern Iowa and the condition it is in is a sur
prise to everyone. As we said above, the cause of
its trouble is money loaned on notes which are
worthless . and also overdrafts. The stockholders
are among the wealthiest men in and around Eine
ville.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
JOHN A . CREIGHTON, President.
F H. D A V IS, Vice President.
THOS. B. MCPHERSON, Cashier.
JOHN C. FRENCH, Asst Cashier.
As the charter has expired about two years ago
the bank has simply been since that time or for
about two years a plain partnership and each and
every stockholder is individually responsible for its
debts. This will protect the depositors. They will
get their money in full. W e understand that a re
ceiver has been asked for. The bank had a capital
of $70,000 and it is all gone and probably consid
erable more the loss will be sure to he a large one.
Bank Money Orders.
Mr. Lewis E. Pierson, President of the New
York National Exchange Bank and one of the mov
ing spirits in securing the Bank Money Order Sys
tem, made the following address at the recent Min
nesota convention :
“ Two years ago Mr. Havill, in his most excel
lent address, forcibly brought this matter to the at
tention of your Association and bankers through
out the country. Since that time, in all the discus
sion and work upon the subject, the hankers of Min
nesota have •keen at the front.
A t the San' Francisco conventlbn, your represen
tatives, working in harmony with those from other
states, nobly did their part to secure the adoption
of the resolution for the appointment of a commit
tee to work out this problem for the American
TH E NORTHWESTERN BANKER.
8
T
August, 1904.
SEABOARD
NATION AL BAN K
h e
O F TH E C IT Y OF N E W Y O R K
Capital, $ 5 0 0 ,0 0 0 .
Surplus (earned), $ 1 ,4 2 8 ,1 3 5
A C C O U N T S S O L IC IT E D .
S. G. BAYNE, President.
S. G. NELSON, Vice-President.
C. C. THOMPSON, Cashier.
W. K. CLEVERLEY, Assistant Cashier.
J. H. DAVIS. Assistant Cashier.
Bankers’ Association, and your energetic and most
efficient secretary, Mr. Joseph Chapman, Jr., has
taken a conspicuous and valuable part in the work
of this committee, whose plan and recommenda
tions were unanimously adopted by the Executive
Council, at its meeting last April.
This plan provides that any member of the Am
erican Bankers’ Association can purchase from a
designated surety company, at a price not exceeding
five dollars a thousand, uniform blanks, styled Am
erican Bankers’ Association Money O rder; have
printed upon the same their name and the drawing
bank, and, as the paying bank, the name of thencorrespondent in either New York, Chicago, Bos
ton, Philadelphia, Baltimore or St. Louis. These
blanks will be limited in amount not exceeding one
hundred dollars, numbered and furnished in pads,
and for a premium included in the price the surety
company will place on each blank, its absolute guar
antee of payment, in case of default by the paying
or issuing bank. And also agrees to furnish free
of further cost proper advertising matter and do all
in its power to supplement the bank’s individual
efforts to create a demand for these orders.
Each bank, in its application, will agree to cash
the orders of other banks at par, and in issuing the
orders ned not inaugurate any new records or en
tries than those now used in selling its bank drafts,
nor need its correspondent treat the items in any
manner different from that in which they now
handle bank drafts. The orders in fact being no
thing more or less than bank drafts, under another
name, and with a guarantee.
Some prominent bankers have expressed the
opinion that this plan would go a long way to solve
the asset currency problem, guaranteed as the orders
will be, confidence in them is assured, and in times
of stress banks can issue the orders in round
amounts for harvesting and pay roll purposes, etc.,
as against actual balances existing on their own
books.
Accompanying the plan were propositions from
three leading surety companies, and acting upon
the committee’s recommendations the chairman of
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the Executive Council appointed a committee con
sisting of A. B. Hepburn, J. B. Forgan, W . H. Por
ter, Joseph Chapman, Jr., and F. H. Fries to con
tinue negotiations with these companies, decide
which should receive the business and in all its
phases carefuly close up the matter with that com
pany.
This committee is now engaged on that highly
important work. It has held one meeting and is
making steady and sure progress and it will not now
be long before the orders are ready for use.
A few bankers, and I fear they are mostly in the
larger cities, have said there would be no profit in
issuing these orders; that they would be a nuisance,
etc. This contention would not seem to be borne
out by previous experiences of individual banks, in
country districts, as well as in some of the larger
cities. In Chicago the Chicago National Bank, in
Boston the National Shawmut Bank, in Columbus
the Ohio National Bank, and in New York the New
York National Exchage Bank, have for some time
been successfully issuing their own form of money
orders, and no reasonable man will question but
what when the facilities of the plan are brought to
the attention of the public, their previous sales will
be largely augmented.
I think we will agree that in any line the man
who sells the most goods at a fair profit comes in
touch with more people, and does the most business,
and we are unable to say today whether or not the
small man purchasing money orders will develop
into a valuable depositor. Acquaintance with the
personnel and machinery of a bank through the
use of money orders may keep him from putting
cash in hiding places, and the gain of a customer
causes more money to stay in circulation.
Those who have been in close touch with the
recent development of this movement, believe that
we have about ready for the public a money order
that will have a place payable and be cashed with
out deduction by every bank in the United States,
without requiring any change of present banking
relations or machinery. It will cost less, be abso
lutely guaranteed, and prove infinitely superior, to
August, 1904.
THE NORTHW ESTERN BANKER.
9
N a t i o n a l B a n k of the R e p u b l i c
CAPITAL
aims to give the best
service at all times
2 ,000,000.00
S U R P L U S
$700,000.00
in Chicago
JO H N A . L Y N C H , President
W . T . F E N T O N , V ice-P resident
R . M . M cK IN N E Y , Cashier
DIRECTORS
Charles R . Crane
C. H. C onover
H enry Siegel
J. V . Farwell, Jr.
H. W . H einrichs
H erm on B. Butler
John A . L yn ch
R ollin A . K eyes
Frank O. L ow d en
W , T . Fenton
an other form of remittance now in existance and
by its use new acquaintances, new business and ad
ditional profits are before you.
It is highly important, however, that we all de
termine to order a supply, issue and push the sale
of these orders immediately they are available. The
more orders that are sold, the better they will be
advertised and the better they are advertised the
larger will be the subsequent demand, and benefit
to each individual bank.”
Counterfeit $100 Bill Afloat.
Des Moines and Iowa bankers have been notified
to be on the lookout fo a new counterfeit $100 gold
certificate manufactured in New York city. A large
consignment of the “ green money” has been traced
out of New York, and it is believed a part of it was
designated for Des Moines. Detectives are at work
in the city to the end of locating the party or par
ties believed to be here for the purpose of floating
the bills.
A peculiar point in the appearance of the certifi
cate is the appearance of the figures 100 in the up
per right hand corner, where the lathe work is flat,
broken and has a blurred appearance. The bills are
of a series “ B5,” of the act of July 12, 1882, signed
by J. W. Lyons, Register of the Treasury, and
Ellis H. Roberts, Treasurer of the United States.
The counterfeit bears the numbers C424363 and
C324369.
The Proposed Money Order System.
A prominent banker* says in regard to the pro
posed money order system to be adopted by the Am
erican Bankers’ Association: “ From every point
of view the establishment of the proposed system
is to be desired. It is in the line of true banking
development and in the interest of the business of
the country. One of the advantages of the plan is
that it will serve to equalize credit throughout the
United States. Nothing has tended to increase the
populistic agitation in the West more than the fact
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
R . L. C R A M P T O N , Assistant Cashier
O . H . S W A N , Assistant Cashier
R obt. M ather
E . B . Strong
John R . M orron
L ou is F . Swift
J. B. Greenhut
F. E. V ogel
that rates of interest, so low in the East, have often
been so high in the far West. The people of those
sections have not understood the reasons for this
difference, and have attributed it to the greed of fin
ancial powers in collecting the money of the coun
try in New York for their own purposes and leav
ing the rest of the country bare. Now this system
by which the facilities of the banks will be more
largely utilized for the purpose of transferring
money from one section to another will tend to se
cure more equality in money rates and to remove
much of the existing prejudice against the banks.”
A )tfew Fire Company.
A t the recent semi-annual meeting of the Bank
ers Mutual Casualty of Des Moines the transfer of
the department of bank burglary insurance to the
Aetna Indemnity Company of Hartford was rati
fied and arrangements were made to take up the
writing of fire insurance, which with the insurance
of registered mail will now constitute the business
of the company.
The old officers and directors were re-elected.
A novel point will be raised in a suit to be filed
by the Bankers Casualty Company of Des Moines
against H. C. Shover, former insurance commis
sioner of South Dakota. The action will be begun
in the federal court and will demand damage from
the latter on the ground of injury to the business
of the company by circulars issued by him during
his term of office.
The action will be one of a series to be begun.
Tw o others will be instituted against the London
Ocean and Guaranty Company, charging them with
circulating circulars defamatory to the company
and resulting in it having to' discontinue the busi
ness.
A. U. Quint, manager of the company, claims
that the competitors had circulars printed omitting
from $78,000 to $101,000 of their assets, according
to which showing the company was hopelessly in
solvent. No names were signed to the circulars and
Mr. Quint claims that the agents of the competitors
TH E NORTHWESTERN
IO
T
h e
N
l w
Y
o r k
N
BANKER.
a t io n a l
5 .W .C O R .C H A M B E R S ST.
&
E
August, 1904.
x c h a n g e
B
.
a n k
W E S T BROADW AY
----- —^(^ 5*~
L E W I S E. P I E R S O N ,
O R G A N I Z E D
I S S I
P r e s id e n t
J A M E S E . N I C H O L S , V ic e P re s .
F R E D E R I C K W O R T H , V ic e P re s .
R O L L IN P. G R A N T ,
CAPITAL, $ 1,000,000
SURPLUS,
750,000
E XC E PTIO N A L
SERVICE
distributed them under the pretense that they had
been issued by the Bankers’ Mutual Casualty Co.
In a suit just finished in the federal courts at Des
Moines, the Bankers company received a verdict of
$1,000 from the London Ocean and Guaranty on
the grounds of libel in the circulars above referred
to.
The charge against Shover of South Dakota is
peculiar, in that he will be condemned for enforcing
the laws of his state. The company writes insur
ance on the transportation of money and valuable
papers by mail or express against loss by burglary,
fire or accident. For this business they have no
agents, merely sending circulars to prospective pat
rons. The policies are then issued from the home
office in Des Moines. The South Dakota law pro
vides that insurance policies must be written by an
agent having a residence and license to do business
in the state. Commissioner Shover issued a circular
letter listing them among the wildcat companies in
consequence of their alleged violation of the law.
Manager Quint declares that the United States
supreme court has ruled that state laws such as the
South Dakota law specified, are unconstitutional,
and consequently he is guilty of criminal libel.
Nebraska Prosperous.
Labor Commissioiner Bush has compiled an esti
mate of the money on deposit in state and national
banks in Nebraska.
The total is $102,073,882.24, including $1,437,874.41 in United States depositories. The state
banks had on deposit $37,073,882.24, while the na
tional institutions had $65,106,913.57.
Estimating the population of the state at 1,100,000, indicates a per capita of deposits'of nearly $91.
Secretary Royse has calculated, however, that the
public funds deposited throughout the state mount
up to $12,000,000, leaving approximately $88,000,000 to the credit of individuals and private corpora
tions. This makes the per capita for individuals
and private corporations $80, an unusually high fig
ure.
i ! •
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IN
EVERY
-
C a sh ier
F R A N K M. BURGER,
A sst. Cashier
DAVID H. G. PENNY,
As&t. Cashier
DEPARTMENT
Douglas county stands at the head of the list with
a grand total of $36,278,244.49 in deposits. That
comity has a population of 140,590, giving an ave
rage of $259 per capita. This enormous figure is
due to the fact that the Omaha banks hold the ac
counts of country banks, and that it is a reserve
city.
Lancaster county, with a population of more than
64,000 inhabitants had deposits aggregating $5,915,362.65, a per capita of $92.04. Dodge county
comes next in the list with deposits of $3,228,914.30. That county has 22,298 inhabitants, mak
ing the per capita much higher than Lancaster coun
ty, the average being $146.72.
Saunders comity, with 22,085 population, had
$2,625,956.01 in deposits, a per capita average of
$119.31. The county with the next largest total is
Otoe with 22,288 inhabitants and $2,324,872.56 in
deposits, the per capita being $105.54.
The county with the smallest total of deposits is
Blaine county in the heart of the sandhill region,
away from the railways. Its total is $14,142.36, a
per capita of $23.45.
Had no Use for Either.
A life insurance agent was interviewing Mr.
Dolan. How well he succeeded is told by the fol
lowing from Mr. Dolan’s remarks:
“ Naw, I don’t hold wid loife insurance compan
ies, nor yet wid savings banks,” he said, stubbornly.
“ A cousin o’ me own, he had his loife insured for
the benefit o’ his widdy, an’ afther all he nivver had
one, for ’twas him lived to be eighty, an’ her that
doied.
“ W id banks it’s just the other way,” he contin
ued. “ For there was me own uncle; he put money
in the bank, an’ he kept stickin’ it in and stickin’ it
in, in the hopes that whin old age come he could
take it out gradual loike an’ enj’y himself; an’ instid o’ thot, ’twas him that had the widdy befoore
he touched sixty-tw o!. They’re wurrked on the
wrong plan, the both of thim institutions, man, an’
its a wondher to me to hear you sp’akin’ a good
wurrd for ’em,”
August, 1904.
THE NORTHW ESTERN
M
th e
e r c h a n t s
N
BANKER.
11
B
a t io n a l
a n k
....
2775
or O M AH A, N E B R A SK A .
¥
FRAN K MURPHY,
President.
BEN B. WOOD,
Vice-President.
C A P IT A L & SURPLUS
LUTHER DRAKE,
Cashier.
B $ 6 0 0 .0 0 0 §
FR A N K T. HAMILTON,
Asst. Cashier.
U. S. D E P O S I T O R Y .
Death of Fred Heinz.
The bankers of Iowa and of the nation were
shocked to hear of the sudden death of Fred Heinz,
which occurred July 10th in New York City from a
stroke of apoplexy.
Several weeks ago Mr. and Mrs. Heinz went to
the East to witness the graduation of their daugh
ter, Flora, at Vassar college, and to attend the
commencement exercises at Wellesley seminary,
where another daughter, Zella, was a student. A ft
er the graduation exercises Mr. and Mrs. Heinz
and their daughters went to New York City. Miss
Flora took passage for Europe, bound for Germany,
where she expected to take a two years’ course of
study at the Berlin university.
Mr. Heinz has been a familiar figure at the va
rious bankers’ conventions and at the national con
ventions he was one of the best known bankers.
Everyone knew “ Heinz of Iowa” and welcomed his
presence. His views were always on the bright
side of things and his cherry wit and pleasant ways
made every one his friend. He was large in his
sympathies and was ever ready to recognize and
fulfil more than his duty as a public citizen. He
was intensely patriotic and believed with all his
heart and soul that America is the best country on
earth, and that Iowa is her crowning g lo ry ; that
Scott county is the best county in the state, and
Davenport the best city. His home life was beau
tiful and there he found his greatest pleasure with
his talented family.
His was a clean life, enjoying the fullest confi
dence of his neighbors, friends and business associ
ates. He was conservative, upright and honest.
His business insight, experience and legal knowl
edge gave him a wide influence which was always
exerted for the common good.
Mr. Heinz was given, many positions of honor
and trust. He was mayor of his home city, county
attorney, and filled many other positions with hon
or to himself and the office. As a financier he was
also found in the lead. He was one of the organ
izers of the Farmers and Mechanics Savings Bank
of Davenport and it first president, which position
he held continuously up to the time of his death.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A C C O U N T S SO L ICITE D .
For a number of years he was vice president for
Iowa of the National Bankers’ Convention and
was each year selected chairman of the Iowa dele
gation to the annual convention of the association.
Mr. Heinz was born in St. Louis, May 8, 1852,
and came to Iowa when a small boy. The death of
no other Iowa banker could cause more general sor
row.
North Dakota Bankers’ Association.
The second annual convention of the North Da
kota Bankers Association met in Fargo, July 14-15.
A t 10:30 the convention was called to order by
the president of the association, S. S. Lyon, cashier
of the First National Bank of Fargo, who- first
called upon the Rt. Rev. Cameron Mann, bishop of
North Dakota, to make his invocation, which was
preceded by repeating the Lord’s prayer.
The visitors were welcomed by Hon. Seth New
man, city attorney of Fargo, who was several times
applauded during the progress of his remarks, es
pecially his reference to the standard and measure
of value “ which must be stable, and have an in- *
trinsic value.” The remarks seemed to greatly
please Bishop Mann for he started an applause most
vigorously.
The response, a most gracious one and clothed in
diction most eloquent, was made by Hon. John L.
Cashel, cashier of the First National Bank, Grafton.
He said it was most gratifying to receive such a cor
dial welcome from the lips of the Nestor of the bar
of the state. In return the association desired to
return its sincere thanks. Before him he saw a sea
of faces on every one of which was a mark of con
tentment which was a reminder that all was well
through the state at large.
The annual address of Mr. Lyon, the president
of the association, was very brief and wholly in
formal.
After the disposition of several routine matters
and the receipt of the report of the executive council
and its proper reference to the secretary, W . C.
Macfadden of the Commercial Bank of Fargo, read
his annual report. He said: “ W e have in North
August, 1904.
T H E NORTHW ESTERN BANKER.
12
Itniteù States national Bank of #m a lta t 3tcb.
STATEMENT JUIVE 9, 1904
K cson rccs
2,501,890.94
Time L oans............................ ...................
100.00
Real Estate................................... - ...........
100.00
Stocks, Securities, e tc............................
100.00
P rem iu m s..................................................
100.00
Furniture and F ix tu re s.........................
80,000 10
U. S. Bonds (C ircu la tion )......................
Cash...................................... $ 504,593.02
Call Loans............................ 147,633.17
U. S. B ond s..................
70,000.00
Railroad Bonds....................
77,00.00
E x ch an ge..............................1,'&4,508.53 2 ,0 8 9 ,7 3 3 .7 2
$ 4,669,024.66
..
..
M . T. B a r lo w , P r e s id e n t
V . B. C a ld w e ll, C a sh ie r
OFFICERS
..
..
W . E . R h o a d e s , A s s ’ t C ash ier
L . M . T a lm a g e , A s s ’t C ash ier
Dakota 291 banks; 79 national banks with an aggre
gate capital of $2,725,000, and 212 state banks with
and aggregate capital of $2,357,000, or a total
banking capital of $5,082,000. Our membership
now numbers 201, with a total capital of $4,190,000.”
Mr. Terrett, the treasurer, was unable to be pres
ent. His report showed money received during the
year, $1170 and cash in hand $765.
Following “ reports by districts” the chair intro
duced Congressman B. F. Spalding, who read a
paper on “ Legislation Now Before Congress of In
terest to Bankers.” The speaker confined himself
to measures only before the house of representa
tives and in his paper he gave much valuable infor
mation epitomized in a way that the potent facts
which had been culled from voluminous reports!
could be easily grasped by the bankers.
The address on bank money orders by Joseph
Chapman, cashier of the Northwestern National
Bank, Minneapolis, was considered very instruc
tive. The speaker, who has made the subject one
of very careful study and is thoroughly alive to all
phases of it, illustrated many obscure points and
the consequence was that a great many things
about the business was learned for the first time.
V ery entertaining, too, was D. J. Craig, Jr., who
reviewed the object and work of the American In
stitute of Bank Clerks. Heads of banks have real
ized that it is important the clerks keep in touch
with laws and methods generally and Mr. Craig,
who is the president of the Minneapolis chapter, was
able to give a feast on this line ana he created quite
an enthusiasm.
Hon. E. Y . Sarles, cashier of the First National
Bank, Hillsboro, gave a very interesting talk on
“ The Bank, Inside and Outside.” The talk showed
the speaker to- be very resourceful in practical ideas
for bankers and the talks which followed gave evi
dence of the appreciation of his hearers.
The “ Question B ox” inspired the open discus
sion of a number of matters pertaining to the busi
ness of banking and the exchange of views on dif
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Stabilities
400.000 00
Capital S t o c k ............................................ $
100.000 00
Surplus......................... ...............................
70,234.66
Undivided Profits.......................................
75,000.00
C irculation.....................................- ...........
4 ,0 2 2 ,7 9 0 .0 0
Deposits
$
UINITED STATES
llc m r
4,669,024.66
DEPOSITORY
B u s in e s s
în u itc ù
ferent methods for different localities was instruc
tive and tended to a comity of interests.
Colonel John D. Benton gave an informal talk on
the development of the state and with facts and
figures sought to prove a conviction which he has
always entertained that the state would become a
corn state. He referred to the value of the grass
lands. Entering into a humorous strain, he re
ferred to the bankers and their interests in public
affairs— that they were branching out. His friend
“ Sarles over there” was in the field for governor of
the state. How a banker will do in the position re
mains to be seen, but he predicted that here would
be no regrets. The republicans of the state would
supply the votes and the democrats the moral sup
port and the respectability to the campaign.
The address of W. A. Scott on “ The Bankers’
Assistance in Building Up the Commercial Interests
of His Community” was one of the best addresses
of the convention.
The new officers and personnel of the executive
council are as follow s:
President, M. F. Murphy, Grand Forks; vicepresident, L. B. Hanna, Fargo; secretary, W . C.
Macfadden, Fargo; treasurer, J. G. Gunderson,
Aneta; vice-presidents, Robert E. Barron, Minot,
representing Group No. 1 ; Emery Olmstead, W il
low City, representing Bottineau County Bankers’
Association; past presidents, F. W. Cathro, Bot
tineau, chairman; S. S. Lyon, Fargo; George B.
Keenan, Thompson; O. I. Hegge, Minnewaukan;
R. P. Sherman, Tower City; F. W. Vail, Milnor;
PI. T. Graves, Jamestown; W. G. Ballack, Forest
River; John T. Neville, Westhope.
The Bankers’ Trust Company Grows.
The success of the Bankers Trust Company of
New York, in the face of the unfavorable conditions
which have prevailed the last year, is due to the un
usual personnel of its board of directors and officers.
It is pointed out that this board is made up ex
clusively of active bankers, and that many of the
August-, 1904
TH E NORTHW ESTERN BANKER.
13
THE
LIBERTY
NATIONAL BANK
OF N E W YO RK.
139
B roadw ay.
Capital, $ 1 ,0 0 0 ,0 0 0
Surplus. 1 ,0 0 0 ,0 0 0
Undivided Profits, $ 9 4 3 ,0 0 0
E. C. CONVERSE, President
CHARLES H. STOUT, Vice-President
D. G. REID, Vice-Presideut
CHARLES, W. RIECKS, Cashier
FRED’ K P. M cGLYNN, Assistant Cashier
HENRY P. DAVISON, Chairman Executive Committee
DIRECTORS:
GEORGE F. BAKER
CHAS. H. STOUT
E. F. C. YOUNG
H. P. DAVISON
CHAS. H. W ARREN
largest banks in New York are represented on it.
Among these are the First National, National Park,
Chase National, Fourth National, Bank of Manhat
tan Company, Seaboard National, Mechanics’ Na
tional, Chemical National, Liberty National and
Gallatin National. Large out of town banks which
have a place on the directorate are the Commercial
National Bank of Chicago, First National Bank of
Pittsburg, First National Bank of Kansas City, and
First National Bank of Jersey City. On June 30
the Bankers’ Trust Company had been in existence
exactly fifteen months, hut during that brief period
it 'accumulated deposits of $15,304,064 and added
$126,2119 net profits to a $500,000 surplus fund.
This is a record of which any institution may well
be proud.
New National Bank for Sioux City.
The name of the Peoples Savings Bank of Sioux
City will soon be changed and an increase in capi
tal stock of the bank be made and a reorganiza
tion of the official board and the transformation of
the bank from a state to' a national bank.
The name will be changed to the City National
Bank and the capital stock increased from $50,000
to $100,000. The bank will retain its old location.
A. J. Wilson, who recently resigned his position
as cashier of the Boone National Bank, will become
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Federal Reserve Bank of St. Louis
E. C. CONVERSE
HENRY C. TINKER
F. L. HINE
CHARLES A. MOORE
J. ROGERS M A XW E LL
HENRY GRAVES
T. A. GILLESPIE
DANIEL G. REID
A RTH U R F. LUKE
FRED’K G. BOURNE
cashier of the City National Bank. F. W . Kemp,
who has ben carrying out the duties of cashier, will
be assistant cashier.
Mr. Wilson retains an interest in the Boone
bank. He has an interest in the Marathon Savings
Bank also and is receiver for the First National
Bank of Storm Lake. He was a member of the
Twenty-eighth and Twenty-ninth General Assem
blies from Buena Vista county and has been promi
nent in state banking circles for years.
The officers of the new bank will be: A. T. Ben
nett, president; Dr. William Jepson, vice-president;
A. J. Wilson, cashier ; F. W. Kemp, assistant cash
ier. The board of directors includes F. L. Wirick,
George Jepson, J. G. Shumaker, A. T. Bennett and
Homer A. Miller, the latter of Des Moines.
The change is being made because of the in
creased business of the bank. They desire to widen
their scope and put themselves in proper condition
to take care of their constantly growing commercial
business. They will continue their savings depart-,
ment.
The Bankers’ Cabinet and Supply Company.
The above named company was recently organ
ized in Des Moines to furnish with the least pos
sible delay the many different articles now found in
dispensable in every up-to-date bank. The com-
TH E NORTHWESTERN BANKER.
14
F IR S T N A T I O N A L
August, 1904.
BANK
Om aha, NebrasKa
-i.
O FFICE R S A N D
C ap ital a n d S u r p lu s , $ 0 0 0 , 0 0 0 . 0 0
D IR ECTO R S
HERMAN KOUNTZE, Pres.
J. M. WOOL W ORTH
W e Furnish Kountze Bros., New
York, Foreign Letters of Credit
W. S. POPPLETON,
2
W. F. ALLEN
F. H. DAVIS, Cashier
C. T. KOUNTZE, Assistant Cashier
Cash Orders for* New York Sto ck Exchange
Securities Executed Prom ptly
pany is made up of experienced young men who be
lieve in hustling and who' are thereby building up a
very satisfactory business. They sell wood and
steel cabinets, all kinds of desks, chairs, copying
presses, money changers, trays, bags, coin wrappers,
ticklers, rubber stamps, the home savings bank, and,
in fact, every article of necessity or convenience that
is used in a thoroughly modern bank. The banks
of Iowa are in good shape and making money and
believe in the best and latest methods, therefore the
Bankers’ Cabinet and Supply Company is finding a
good and growing market.
W. A. PAXTON
J. A. CREIGHTON, Vice-Pres.
L. L. KOUNTZE, Assistant Cashier
l ia b il it ie s
jj
jj
jj
.
Capital stock paid... $ 8,149,100.00 $ 8,123,100.00
Surplus fund .......... 1,512,432.96
1,523,523.60
Undivided profits ...
1,714,386.72
1,624,356.61
Dividends unpaid ...
2,792.66
7,670.66
Certified checks ...... 37,824,735.76 38,777,300.98
Notes and bills re
discounted ......
122,459.48
145,992.69
Bills payable ..........
177,900.95
353,349.12
Total....................... $49,503,808.53 $50,555,293.22
Reserve held, 34 1-6 per cent.
Number depositors, 122,226.
Nebraska Bank Report.
The report of the State Banking Board of the
financial condition of 507 banks in the state at the
end of business, May 14, shows that while the de
posits have decreased over the last report $952,565.22, the number of depositors has increased 255.
The number of depositors at this time is 122,226,
while the deposits amount to $37,824,735.76. The
reserve held is 34 1-6 per cent. One bank less re
ported this time than in the March report. The
loans decreased $863,686.59, the loans at this time
amounting to $33,088,517.44. The report in detail
compared with the March report follow s:
RESOU RCES.
Present Report.
March 17.
Loans .............
"$33>°88, 5 i 7.44 $33,952,194.03
376,096.66
Overdrafts ....
363,334*i7
680,341.02
614,778.78
Bands, stocks, etc....
Due from banks.... - 10,482,962.58
9,769,320.62
1,480,328.82
1,488,700.41
Furniture and fix’s.
306,576.33
Real estate ....
344P 49-30
Current expenses
504,343.29
and taxes ...
432,810.64
bonds ........
3,885.55
354*38
Cash items ....
99*354*09
89,956.97
2, 533,736.02
Cur’cy, specie, etc....
2,447,360.95
Total ..........
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
..$49,503,808.53 $50,555,293.22
Self-identified.
People who are asked to identify themselves oft
en attempt it in original fashions, leading to absurd
results. A gentleman who' presented a check at a
bank where he was unknown, was told that he must
at least produce some possession bearing his name—
perhaps a letter or a handkerchief. In triumphant
relief he pulled out a handkerchief, and lo ! it was
one belonging to a friend, and marked with his
name in full.
A Texan gentleman had been spending a few
days in New York, and being in need of money, he
applied to a Broadway bank to cash a draft.
“ What is your name ?” asked the paying teller.
“ Colonel Sumpter Blank, sir, of Austin, Travis
County, Texas.”
“ You will have to be identified, Colonel.”
This was a necessity the colonel had not taken
into consideration. He knew of nobody who could
identify him, and was about to leave the bank, when
a happy thought occurred to him. Pie took from his
breast pocket a photograph of himself, and, holding
it out to the bank official, said, “ There, sir, I guess
that settles it.”
“ O f course that’s your photograph, but how does
that identify your?”
“ Well, sir, will you please tell me how I could
have my photograph taken if I wasn’t myself?”
A u g u st,
Th e
1904.
THE
BANK
ORGANIZED
OLDEST
1810;
BANK
IN
OF
P IT T S B U R G H
C H AR T ER ED ,
THE
UNITED
STATE
STATES
STATEMENT
Loans and Discounts,
.
$11,430,978.17
Resources Stocks, Bonds and Securities,
4,282,154.71
Exchanges for Clearing House,
467,989.09
Due from Banks,
.
.
1,427,659.11
Cash,
...........................
1,696,028.07
$19,304,809.15
WILSON A. SHAW ,
.
JOSEPH R. PAULL,
.
JAMES J. DONNELL, .
WM. ROSEBURG, .
.
.
Vice
. V ice
V ice
President
President
President
President
CORRESPONDENCE
banker.
north w estern
N a t io n a l
BANK,
1814;
WEST
OF
THE
•June
9,
1 9 0 4.
CITED.
A Dutchman whose son had been employed in a
bank was met by an acquaintance who inquired,
“ Well, Mr. Schnider, how is Hans getting along in
his new place?”
“ Shoost sphlendid; he vas von off dem directors
already.”
“ A director! I never heard of such rapid advance
ment— the young man must be a genius.”
“ He vas; he shoost write a splendid handt!”
“ Oh, yes, plenty of people write good hands, but
yau said Hans was a director!”
“ So he vas (indignantly, he direct dem cirgulars
ten hours efery day already!”
s s o c i a t i o n
ALLEGHENY
BANK,
1899
MOUNTAINS
Liabilities
$19,304,809.15
WITH
A Bank Director.
A
NATIONAL
Capital Stock,
.
.
. $ 2,400,000.00
Surplus and Undivided Profits, 2,497,015.87
Circulation, .
.
.
.
1,452,600.00
Deposits,
.
.
.
.
12,955,193.38
O F F I C E R S
JOHN CALDW ELL, .
. V ice President
DALLAS C. BYERS,
.
V ice President
W. F. BICKEL, .
.
.
Cashier
SOL
15
A
VIEW
T
J. M. RUSSELL,
. 1st Assistant Cashier
W . L. JACK,
.
. Assistant Cashier
J. D. AYRES, .
.
Assistant Cashier
GEORGE F. W RIGHT, .
.
A uditor
1
BUSINESS
RELATIONS
The First National Bank of Omaha has been ap
proved as reserve agent for the First National Bank
of Spencer.
The Peoples State Bank of Diller has been con
verted into the First National Bank of Diller. Cap
ital, $4.0,000.
The First National Bank of Osceola has chosen
as reserve agent the United States National Bank
of Omaha, Neb.
The Farmers and Merchants Bank of Milford,
with a capital of $10,000, has profits of $5,000 and
deposits of $66,556.
N EBRASKA N EW S AND NOTES.
M. J. Tuft, G. D. Eaulkas, S. F. Parker and
others have organized another bank at Farnham
with a cash capital of $5,000.
A new bank is being talked of for Greeley Cen
ter.
A new bank is to be established in Oxford by
John Howell and his brother, Mat Howell, of York.
The Capital stock will be $5,000.
The First National Bank of Loup City has been
established.
The Farmers Bank of Shelton shows a pros
perous and growing business.
John F. Spirk is now president of the National
Bank of Wilber, in place of D. B. Cropsey.
The First National Bank of North Platte has put
in one of Deright’s Manganese steel safes.
The Frontier County Bank of Stockville has filed
articles of incorporation. Capital stock, $5,000.
The First National Bank of Wakefield has chosen
as reserve agent the First National Bank of Omaha.
The First National Bank of Bloomfield. Fred
Volpp is now cashier, in place of A. J. Lindstrom.
In the reorganization of the First National Bank
of North Platte Arthur McNamara was elected
president.
Hays Center has a new state bank, Stockville has
a new, Farnham is getting one, and Eustis ought
to have one.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Albion National Bank of Albion are putting
up a new bank building. J. J. Deright & Co. have
sold them a Manganese steel safe.
The Stromsburg Bank of Stromshurg has just
purchased a large size Manganese steel safe through
the agency of J. J. Deright & Co. of Omaha,
The First National Bank of Dodge has chosen
as reserve agents the Hanover National Bank of
New York and the First National Bank of Omaha.
The Bank of Burchard, a state bank, has amend
ed its articles of incorporation, lengthening its life
from twenty to forty years, dating from July 1,
1884.
Plattsmouth. The Plattsmouth State Bank has
been incorporated. Capital stock, $50,000. W . H.
Newell, president ; J. M. Roberts, cashier and sec
retary.
The Nebraska National Bank of Norfolk has
been organized, capital $50,000. G. D. Butterfield,
president; C. A. Johnson, vice-president; H. J. Mil
ler, cashier.
i6
TH E NORTHWESTERN BANKER.
F IR S T
N A T IO N A L
August, 1904.
B A N K
OFFICERS.
M IN N E A P O L IS ,
J . B . G1LFILLAN--
F. M . P r i n c e ........ Vice-President
M IN N E S O T A .
C. T. J a f f r a y .. - ..........Cashier
D. Macker ch ar
C a p it a l ,
$
2 ,O O O ,O O O
- - - Ass’ t Cash.
E r n e s t C. B r o w n --.A ss’ t Cash.
D
S
urplus
& P
r o f it s ,
S i ,4 1 7 ,1 4 4
e p o s it s ,
$
9 ,3 7 7 , 4 2 4
We would be Glad to Hear from Banks who have Business In this Territory but no Direct Correspondent in
M IN IN E A P O L I S
The Bank of Fairfield, with a paid-up capital
stock of $20,000 has been authorized to do business.
The incorporators are J. M. March, G. M. Prentice
and Ira Titus.
The stockholders of the bank at Davey held their
annual meeting- recently, showing- a little better than
10 per cent dividend for the past year. Mr. Buck
ner is a hustler.
The German Bank at Bruning at its semi-annual
meeting increased its paid-up capital from $10,000
to $20,000, making it the largest bank in the county
outside of Hebron.
W. A. Warner has resigned as cashier of the Se
curity Bank of Creighton. Frank N. Austin, as
sistant, will be acting cashier, and John C. Foster
acting assistant cashier.
The Farmers State Bank of Hay.es Center has
been incorporated. Capital stock, $50,000. J. B.
Cruzen, president; S. M. Cruzen, cashier; G. W.
Cruzen, vice-president.
The First National Bank of Burwell lias been
organized, capital $25,000. John M. Conrad, W il
liam L. McMullen, Elias Bailey, J. Aaron Brownell
and Wilber I. Cram are interested.
The Anslev National Bank, Ansley, is now being
organized by Frank H. Young, Broken Bow, Alpha
Morgan, H. Fornax, C. Mackey, T. T. Vasney and
H. E. O ’Neill. Capital, $25,000.
men can be secured and everything will he pushed
toward an early opening for business.
W . D. Hartwell, for four years state bank ex
aminer, has resigned because of ill health. The
state banking board requested him to take a vaca
tion and come back to work, but lie refused.
The Farmers and Merchants Bank of Imperial
has just put in one of the latest improved electric
burglar alarms, manufactured by the American
Bank Protection Company of Minneapolis.
The Sargent National Bank of Sargent has been
approved. Capital, $25,000. Frank H. Young,
Broken Bow, Alpha Morgan. PI. Fornax, H. A.
Sherman, F. M. Currie and others are interested.
J. AY. Wehn of Sidney has disposed of the ma
jority of his stock in the Bank of Bayard and is
succeeded by H. S. Clark, Jr., of the Mitchell Bank,
who assumes control. C. H. Burk will remain as
cashier.
Fexington.— The controlling interest in the First
National Bank of this city has been bought by S. D.
Barkalow, C. F. McGrew, vice-president of the
Omaha National Bank, J. J. Halligan, E, F. Seeberger and Arthur McNamar.— North Platte Tri
bune.
The First National Bank of Spencer has been or
ganized, capital $25.000. F. M. Widner, president;
Sanford Parker, vice-president; F. W. Woods,
cashier; F. G. Kloke, assistant cashier.
A very pretty wedding took place at Fincoln,
recently, when Miss Olive May Wallace was mar
ried to Mr. Floyd Seybolt, cashier of the Farmers
and Merchants Bank of Milford. The bride’s fath
er, Mr. William II. Wallace, is the owner of W al
lace & Co.’s private bank at Exeter.
The Dodge State Bank has been converted into
the First National Bank of Dodge, capital $25,000.
James H. Montgomery, president; John H. Fongacre, vice-president; A. J. Hasson, cashier.
Farnam is to have another bank. The corpora
tion is organized and the charter applied for. The
cash capital will be $5,000. M. J. Tuft. G. D. Faulkas, S. F. Parker and others are the incorporators.
A brick building will be begun as soon as the work
The Prosser State Bank is a new institution which
has just been chartered and which will add lustre
to the commercial progress of Prosser. Charles K.
Hare is president of the new bank. Mr. Hart has
long been identified with banking, and for eighteen
years was president of the bank at Bloomington of
which J. P. A. Black is president. A new iron
building is now in process of construction and will
be completed as rapidly as possible.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
August, 1904.
TH E NORTHW ESTERN BANKER.
17
T h e Greatest A ll-Y e a r -R o u n d
Health andPleasureResort
in t h e C o u n t r y .
FOUR DAILY TRAINS FROM ST. LOUIS.
DOUBLE DAILY SERVICE FROM MEMPHIS
Hot Springs: Special
1 2 HOURS FROMST. LOUIS 1 2
VIA T H E
IRO N
M O U N T A IN
R O U TE
For Descriptive and Illustrated Pamphlets address
E L L IS F A R N S W O R T H
D .P .A 111 A d a m s St.
C h ic a g o
G -P
'
H . C. T O W N S E N D ,
en l ass dand
ST. LO U IS .
A t a meeting of the directors of the Exeter State
Bank held recently a semi-annual dividend of 5
per cent was declared. It is very rare that a bank is
able to pay a dividend on its first six months’ busi
ness, and this speaks well for the management of
this institution.
The change of officers in the First National Bank
of North Platte is as follows : Arthur McNamara,
president in place of H. S. White; C. F. McGrew,
vice-president in place of Arthur McNamara; F.
L. Mooney, cashier in place of Arthur McNamara;
no assistant cashier in place of F. L. Mooney.
The Farmers and Merchants Bank of Milford
moved into their new quarters in May, and with
their new brick bank building ,new fixtures and fur
niture— excellent ventilation and light-—are stirctly up-to-date. Their statement shows net earn
ings on the capital of $10,000 of about $2,300 for
first year’s business.
The Bank of Burchard has extended its lease of
life for another twenty years. July 1st the bank
will have rounded out a full twenty years of busi
ness in Burchard and is now the oldest bank in
Pawnee county. It was established in 1884, and a
few months after was purchased by W. J. Halderman, who ever since has been at its head.
The banks of Fremont have just declared their
semi-annual dividends as follows : Commercial
National, 4 per cent; First National, 3 per cent;
Fremont National, 4 per cent; Farmers and Mer
chants 3j/2 per cent; Security Savings, 4 per cent;
Home Savings, 5 per cent. Most of them also
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Federal Reserve Bank of St. Louis
Tkt, Act-
added to their surplus and “ charged off” some
items.
The consolidation of the Security and Citizens
banks of Ponca has taken place. The Security
Bank as reorganized will have a capital stock of
$65,000 and is on an exceedingly substantial basis,
with the merging of the two banks the Citizens Bank
will cease to exist as a separate institution and the
building it now occupies will be used for other pur
poses.
A deal was lately consummated in which the
Bloomington State Bank purchased the real estate
holdings, good will and business of the Franklin
County Bank. The commercial business of the
Franklin County Bank will be consolidated with
the Bloomington State Bank and J. B. McGrew
and R. V . McGrew will, on or about the first of
August, open and exclusive savings bank in the
building formerly occupied by the Franklin County
Bank, with a capital stock of $25,000. R. V . Mc
Grew will remove here from Naponee and take
charge of the new savings bank.
A t the semi-annual meeting of the stockholders
of Neligh National Bank of Neligh recently held,
the directorship was increased by the addition of the
names of G. W . Wattles of Omaha and B. J. Hoffacher, Jr., of Cody. J. B. Hoffacher, Jr., has quite
recently acquired an interest in this bank. Mr.
Hoffacher is a nephew of Claus Spreckles, the “ su
gar king,” and has the confidence and backing of
his uncle as well as the capital of an inherited es
tate to promote his business interests. A t this meet
ing the usual 10 per cent dividend was declared.
August, 1904-
THE NORTHWESTERN BANKER.
TH e Citizens Central National BanK
Capital, $ 2 , 550 , 000.00
N
—
Bi'o.'iclway and Pearl S t.
m»
— —"
E W
V O R K
Deposits, $ 20 , 000 ,000.00
""
— “
“ “““
Succ8ssor to The National Citizens Bank and The Central National Bank
E D W I N S. S C H E N C H , P reside nt
E W A L D F L E I T M A N N , V i c e P resident
H E N R Y D IM SE , C ash ier
N E L S O N A . R E Y N O L D S , A s s is t a n t C a s h i e r
A L B I O N R . C H A P M A N , A s s is t a n t C a s h i e r
D I R E C T O R S : -Tames Stillman, Elkan Naumburg, Ralph L Cutter, Jacques Huber, Daniel A . Davis, John A. McCall, Wm.
Halls Jr Wm A Wheelock, Pearson Halstead, Henry B. Stokes, Ewald Eleitmann, Arthur L. Lesher, Edwin Langdon, Robt. B.
Hirsc’h, Augustus F. Libby, Edwin S. Schenck, W oodbury Langdon, Francis M. Bacon, Jr., Edwin Hawley, Emil Seyd, Jr., H enry Samp
son, L. P. Dommericb, Frederick Southack, Joh nP . Munn, Edward A. Walton, Henry Tuck.
Jacob Halderman, of Burchard, has been ap
pointed special examiner of state banks by the state
banking board, to succeed W. A. Hartwell, who1 re
signed some time ago> on account of failing health.
The appointment took effect July 1. The new
examiner had a genral acquaintance among the
bankers of the state and is the cashier of the State
Bank of Burchard.
William H. Kerr, who has been in the banking
business for many years in Hastings, but who- sold
his bank a little over a year ago to the First National
Bank, will, in company with other Blastings capi
talists, reopen a bank in the building formerly occu
pied by the Adams County Bank. The capitaliza
tion of the new institution has not yet been deter
mined upon though it is given out that a substantial
showing will be made.
The county board of equalization called the bank
ers of Blair up on the carpet and wanted to know
why they had not turned in the surplus and undi
vided profits reported in their last bank statements.
As real estate is assessed separately, the banks had
simply deducted the value of their capital stock to
find the amount of personal property. The hoard
concluded these should be assessed and added $10,000 assessed valuation.
John B. Cruzen, president of the Farmers’ State
Bank of Hayes Center, reports: The authorized
capital stock of his hank is $50,000, the paid up capi
tal $15,000. Mr. Cruzen is a brother of A. R. Cru
zen and both were fromerly in the banking busi
ness. This is the only hank in Hayes Center. The
officers and incorporators are John B. Cruzen, pres
ident; S. M. Cruzen, cashier; G. W . Cruzen. vicepresident.
There can no longer be any doubt as to the ef
fectiveness of the new burglar alarm which was re
cently installed in the Farmers State Bank of Cen
tral. The peace of the city was broken Sunday eve
ning by the horrible jangle of the gong, and within
a few minutes men were seen running up the street
armed with guns and revolvers, no doubt thinking
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
some one had attempted to rob the bank. Their
fears were quieted, however, when the bankers
emerged and explained that they had accidentally
set off the alarm. Shortly afterwards clouds of
smoke in the vicinity frightened the timorous, but
it was only the aroma from numerous cigars the
bankers found it necessary to buy.
Ben B. Wood, vice-president of the Merchants
National Bank of Omaha, died suddenly there a
short time ago. He had taken cold while in Chica
go and congestion of the lungs had followed. Mr.
Wood was 61 years old. He came to Nebraska in
1868 to enter the bank of J. A. Ware & Co., then
at Thirteenth and Farnham streets, as teller. In
1870 that hank was changed to the State Bank of
Nebraska, with former Governor Saunders presi
dent and Mr. Wood as cashier. October 1, 1882,
the Merchants National Bank was organized, with
Frank Murphy, S. E. Rogers, B. B. Wood and J. F.
Goad the leading stockholders, and Mr. Murphy
was elected president, Mr. Rogers vice-president
and Mr. Wood cashier. I11 1898, when Mr. R og
ers resigned as vice-president Mr. Wood was elect
ed in his place, a position he has held since that
time.
A man giving his name as A. S. Cody appeared
in Tecumseh and tried to dispose of papers that
at one time belonged to Charles M. Chamberlain,
the absconding cashier of the defunct Chamberlain
bank of that city, which failed about two years ago.
Chamberlain absconded with papers belonging to
the bank. The man was arrested when about to
board a train and was held on a search warrant.
On his person, it is said, a letter from Chamberlain was found telling him to dispose of the papers
and get out of town. He claimed he was an inno
cent purchaser and had purchased from Chamberlain the papers in Alabama some two months ago.
He also had a letter written in Havana, Cuba,
signed Charles A. Clark, the name which Chamberlain was known to have gone under for some time.
An attempt was made to rob the bank of Edison
July 5, but the burglars were unsuccessful in sc-
August, 1904.
THE NORTHWESTERN BANKER.
19
Unexcelled Service
v ia
TO POINTS IN
CAPITAL, $1,000,000.
SURPLUS, $500,000.
Began Business, March 31, 1903.
Undivided Profits, $1 2 6 ,2 1 9 , June 3 0 , 1904.
Deposits, $ 1 5 ,3 0 4 ,0 6 4 . June 3 0 , 190 4 .
D IR E C T O R S :
STEPHEN BAKER,
Pres. Bank o f Manhattan Co., N. Y .
SAMUEL G. BAYNE,
Pres. Seaboard National Bank, N.JY.
JAMES G. CANNON,
V ice Pres. Fourth N at’l Bank, N. Y.
EDMUND C. CONVERSE,
President.
HENRY P. DAVISON,
Vice Pres. First National Bank, N. Y .
JAMES H. ECKELS,
Pres. Commercial N at’l Bank, Chicago.
A BARTON HEPBURN,
Pres Chase National Bank, N. Y.
GATES W. M cG ARRAH ,
Pres. Mechanics N at’l Bank, N . Y .
EDGAR L. MARSTON,
Blair & C o ., Bankers, N. Y .
GEORGE W. PERKINS,
J. P. Morgan & C o ., Bankers, N. Y.
W ILLIAM H. PORTER,
Pres. Chemical National Bank, N. Y.
DANIEL G. REID,
V ice Pres. Liberty National Bank, N. Y.
FRANCIS H. SKELDING,
Cashier First National Bank, Pittsburg.
EDW ARD F. SW INNEY,
Pres. First N at’l Bank, Kansas City.
JOHN F. THOMPSON,
V ice President.
GILBERT G. THORNE,
V ice Pres. National Park Bank, N. Y.
ALBERT H. W IGGIN,
Vice Pres. Chase National Bank, N . Y .
ROBERT WINSOR,
Kidder, Peabody & Co , Bankers, Boston.
SAMUEL WOOLVERTON,
Pres. Gallatin National Bank, N. Y.
EDW ARD F. C. YOUNG,
Pres. First National Bank, Jersey City.
IN T E R E S T A L L O W E D U P O N D E P O S IT S .
E. C. C O N V E R S E , P r e s id e n t .
J. F. T H O M P S O N , V. P.
T. W. L A M O N T , 2 N.°V.P.
D .E .P O M E R Q V , T reas.
B. S T R O N G Jr. S e c y .
Missouri,
Arkansas,
Tennessee,
A la b a m a ,
M ississippi,
Georgia,
F lo rid a
and the
So u t h e a s t , an d to
K ansas, O kla h o m a,
Indian T e rrito ry ,
Texas
and the
Southwest.
The Famous Health and Pleasure Resorts,
E U R E K A S P R IN G S
AND HOT S P R IN G S ,
ARKANSAS,
Reached most conveniently by this Route.
Round Trip Homeseekers’ Tickets at
rate of ONE FARE plus $2, on sale first
and third Tuesday of each month.
For descriptive literature and detailed
information as to rates, train service, etc.,
addreSS
J . C . L O V R .E N ,
ASSISTANT GENERAL PASSENGER AGENT,
K a n s a s C it y , M o .
curing either money or anything of value. They
had succeeded in effecting an entrance into the
stone vault, which is merely for fire protection, by
digging out a hole sufficient in size to crawl through
but were either frightened away or so “ new” at
the business of safe blowing that they didn’t feel
equal to the task of “ cracking” an iron safe with
a steel money chest. On the floor of the vault were
left a very crude kit of tools.
The Farmers State Bank of Starimele incorpor
ated. A. Kopperud and others.
MINNESOTA N EW S AND NOTES.
The First National Bank of Hastings has had its
charter extended for another twenty years.
Bank of Nielsville has opened.
ier.
Mr. Muus, cash
The State Bank of Tenney has opened for busi
ness.
A new state bank will be organized at St. Mich
ael’s Station.
All the stock for a new bank at Millville has been
subscribed.
It is reported that a state bank will be organized
at Cobden.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
W . A. Gleason lias been elected cashier of the
Sanborn State Bank.
The State Bank of Commerce at Winnebago1 will
erect a $15,000 bank building.
L. J. Fitch of Parkers Prairie will be cashier of
the new state bank at Tracey.
Oscar J. 'Wallen has been promoted from assist
ant cashier to' cashier of the Evansville State Bank.
LaSueur Center. The Everett City Bank will
not be forced into bankruptcy and will continue busi
ness.
The First National Bank of Fosston has chosen
as reserve agent the First National Bank of Minne
apolis.
The newly formed Farmers’ State Bank of Starbuck buys the building and business of the Bank of
Starbuck. Farmers’ State Bank has $12,500 capi
tal.
August, 1904.
TH E NORTHWESTERN BANKER.
20
T h e Hamilton National Dank
OF C H IC A G O
SURPLUS
COMMERCIA L
N A T ’L B A N K
C o u n c il
B l u f f s
,
Io w a
$ 12 5 , 0 0 0
m - O R G A N I Z E D J U N E 15TH, 1901
OFFICERS
C h a r l e s B. Pi k e , President
J. H. C a m e r o n , Vice-President
H e n r y M e y e r , Cashier
G e o . H. W il s o n , Assistant Cashier
DIRECTORS
F. A . Delano, Gen. Mgr. C h i., Burl. & Quincy Railroad.
Wallace Heckman, Business Manager Chicago University.
Charles L. Bartlett. President Orangeine Chemical Co.
T . A. Shaw, J r ., of T . A. Shaw & Co.
A . A . Sprague, 2d, of Sprague, Warner & Co.
Louis E. Laflin, Manager Estate of Matthew Laflin.
Granger Farwell; of Granger Farwell & Co.
Charles B. Pike, President.
J. H. Cameron, Vice-President.
C. J. Eldredge of Merrill & Eldredge, Com. Merchants.
W e Study the Requirements of the Banks in
the Northwest and Endeavor to Meet
Them in Every Reasonable W ay
John Lund will open a private bank at Norcross.
A new bank will be started by N. W . and Henry
Baker at Kiester.
The State Bank of Alpha is authorized. Capital,
$10,000. Geo. Moore, president; J. S. Crowley,
cashier.
Th. Christensen of Ellendale has been elected
cashier and director of the bank, succeeding Mr.
Dobell.
The Bank of Claremont, Claremont, is reported
to have failed. Blanch, W ay & Co., owners. Lia
bilities, $18,000.
The State Bank of Tenney has been authorized.
Capital, $10,000. A. J. Pithey, president; Chas. R.
Verry, cashier.
Sufficient stock has been subscribed to form a
state bank at Millville, which will be probably open
ed by Oct. 1.
The State Bank of Neilsville, has ben authorized.
Capital, $10,000. B. B. Larson, president; James
Larson, cashier.
A final dividend of 6 V2 per cent has been declared
by the failed Commercial Bank of Duluth. Wita
such a payment, the total dividends are 3 1J/2 per
cent on all claims proved and this is about 10 per
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
officers :
J O S E P H R . R E E D , President
L. H A M M E R , Vice-Pres.
F. C. L O U G E E , Vice-Pres.
C. E . P R IC E , Cashier
C. K O N IG M A C H E R , A s s ’t Cashier
DIRECTORS:
Joseph R . R eed
Carl F . K uehnle
W. A . M aurer
L. H am m er
Geo. W. Nicholson
R . H. Bloom er
F. C. Lougee
Geo. P. M oorehead L . F. H usz
C, E . P rice
J. F. Wilcox
C a p i t a l , $ 1 0 0 ,0 0 0 .0 0
SOLICITS
FIRM S.
UALS,
A N D
AC C O U N TS
FROM
CO R PO R A TIO N S
A S S U R IN G
LIBERAL
a n d
P R O M P T
T R E A T M E N T
B A N K S,
IN D IV ID
-
SE R V IC E
::
: :
::
cent more than was expected when the schedules
were made out.
The State Bank of Evan has opened for business.
W. W. Smith of Sleepy Eye, president; F. A.
Ruenitz, cashier.
The State Bank of Neilsville has been authorized.
Capital, $10,000. J. W. Wheeler, president ; Edw.
Florance, cashier.
The State Bank of St. Michaels has been author
ized. Capital, $10,000. S. J. Mealey, president;
H. Berning, cashier.
The State Bank of Hinckley has been authorized.
Capital $10,000. E. H. Holbert, president; P. A.
Christianson, cashier.
The Second National Bank of St. Paul has been
approved as reserve agent for the First National
Bank of Northfield.
The State Bank of Evan is authorized. Capital,
$10,000. W . W . Smith of Sleepy Eye, president ;
E. A. Ruenitz, cashier.
The Goodhue County Bank of Red W ing has
been converted into the Goodhue County National
Bank of Red W ing, capital $150,000. F. Busch,
president; John H. Rich, vice-president; C. E.
Hjermstad, cashier; Emil L. Lee, assistant cashier.
TH E NORTHWESTERN BANKER.
August, 1904.
FRAN CIS B. REEVES,
P r e s id e n t
RICHARD L. AUSTIN, V i c e P r e s i d e n t
THEO. E. WIEDERSHEIM, 2n d V i c e P r e s i d e n t
21
JOSEPH W AYN E, J R ..
C a s h ie r
T h e G ira rd N ational BanK
P h ila d elp h ia , Pa.
CAPITAL, $2,000,000
SURPLUS
and
PROFITS, $2,700,000
DEPOSITS, $26,071,000
ACCOUNTS OF BANKS AND BANKERS SOLICITED
The First State Bank of Flood wood has been
authorized. Capital, $10,000. C. E. Dixon, presi
dent; J. B. Mayer, cashier.
The First National Bank of Minneapolis has been
approved as reserve agent for the Goodhue County
National Bank of Red Wing.
E. E. Campbell, of Hewitt, has sold his interest
in First State Bank to E. A. Christianson of Hen
dricks, who succeeds him as cashier.
started with F. H. Wellcome of Minneapolis, presi
dent; S. J. LaDue, cashier. Capital, $25,000.
The Twin City banks have had a more successful
half year than was hoped for. This being presi
dential year having little effect on the state of busi
ness in the Northwest thus far and bankers are gen
erally looking for a continuance of the present con
ditions. Crops are splendid and almost assured and
good prices will prevail.
A compilation of the statements of the state and
national banks in McLeod county reveals total re
sources of $1,616,290. The total capital is $227,000; surplus $41,100; profits $34,805, and deposits
The First National Bank of Henning now has
$1,278,250. Compared with the statement ren
F. G. Barrows, president, in place of F. B. Coon; R.
dered February 21, 1902, a gain is shown in loans
R. Patterson, cashier, in place oí H. H. Brutlag.
and discounts of $111,239.35 ; in cash on hand, $37,H.
S. Swanberg of Howard Lake, Minn., is or883.34; in capital stock, $20,000.00; in surplus and
ganizing a state bank, and expects to be ready for undivided profits, $24,642.32; in deposits, $148,business Sept. 1. He is now cashier of the State 958.02. Twenty years ago the banks were obtain
Bank at Buffalo.
ing an interest rate of 12 per cent, now they are
loaning
money at 5^5 and 6 per cent, with less and
The finishing touches are being put on the in
less
calls
for their surplus deposits, as many of the
terior of the New Northwestern National Bank
Building of Minneapolis. They hope to occupy the farmers have become depositors instead of borrow
ers, as in the former years.
building about August 1st.
The State Bank, of Menahga, has been authorized
to begin business. Capital, $10,000. G. R.
Wedgewood, president; C. R. Gosslee, cashier.
H. Burton Strait, proprietor of a bank at Jordan,
has been convicted of having received deposits when
he knew his bank was insolvent. His partner, H.
F. Schreiner, will be tried on a like charge.
The corporate existence of the First National
Bank of Winona has been extended twenty years.
The First National Bank of Alexandria has chos
en as reserve agent the National German-American
Bank of St. Paul.
The state bank examiner authorizes the Merch
ants and Manufacturers State Bank. It will begin
business at once. Capital $50,000. T. A. Haugen
of Minneapolis cashier.
Browns Valley.— -The Traverse County Bank is
reported to have suspended. Liabilities, $40,000.
Assets reported at $60,000 and that creditors will
be paid in full. The First National Bank will be
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Minnesota Bankers’ Association, at their re
cent convention suggested to its members who are
private bankers that, in the interests of themselves
and their estates, they place their business under na
tional or state banking acts. The belief was ex
pressed that the legislature should extend the super
vision of the state to all such banks of deposit, simi
lar to that in vogue in other states. The public ex
aminer comments on this resolution with the state
ment that fourteen private banks in the state have
failed in thirteen months. One of these was thirtyfive years old and another thirty. O f the organized
banks only one has failed since 1900 and that was
really an echo' of a failure in 1896 under reorganiza
tion. He believes that while the argument that it
is better for the private banker to> be under state or
national supervision is usually urged the strong ar
gument is that private banks are often used by un-
TH E NORTHWESTERN BANKER.
22
-----------T H E - ----------
Capital and Surplus,
National Live Stock Bank
O F C H IC A G O , IL L .
C a p it a l,
.
.
.
S u rp lu s and Undivided Profits,
August, 1904.
$ 1 ,0 0 0 ,0 0 0 .0 0
1 , 2 8 1 ,5 0 3 .3 6
T
I H I EC
CONTINENTAL
N A T IO N A L
B AN K
OF
D IR E C T O R S :
J ohn A . Spo o r
L e v i B. D ottd
Sa m u e l C ozzens
R o s w e l l Z. H e r r i c k
$ 4 ,0 0 0 ,0 0 0 .0 0
N e lso n M o r r is
A rth u r G. L eonard
J a m e s H. A s h b y
S. R. F l y n n
C H IC A G O
O F F IC E R S :
Gates A. Ryth er
S. R . F l y n n ,
C a sh ie r
P re s id e n t
W. F. D oggett,
G. F . E m e r y ,
A s s is ta n t C a sh iers
Does a L a rg e r V o lu m e of
B u sin ess t h a n a ny o th e r
B a n k o f its F o o t i n g s in
t h e U n ite d S tates.
Respectfully Solicits the Accounts of
Banks, Corporations, Mercantile Firms ô Individuals
A g g r e g a t e D e p o s i t s of O v e r
$ 75 0 ,0 0 0 ,0 0 0 .0 0
JOHN C. BLACK, President
D u rin g th e Past Year.
W E h a v e as
G o o d F a c ilitie s fo r D o in g a G en era l B a n k in g B usin e s s as an y B a n k in C h ic a g o . W e h a v e B e tte r F a c ilitie s
G e o . M. R e y n o l d s , V ice Pres.
B e n j a m i n s . M a y e b , Ass’ t Cashier
N . E. B a r k e r , V ice President
W . G . S c h r o e d e r , Ass’ t Cashier
I r a P. B o w e n , Ass’t Cashier
H e r m a n W a l d e c k , Ass’t Cashier
J o h n M c C a r t h y , Ass’ t Cashier
fo r t a k in g ca re o f L iv e S to c k B u s in e s s th a n a n y o t h e r B a n k ^ n
C h ic a g o . A n A c c o u n t k e p t w it h u s w ill be in c lu d e d in y o u r L e g a l
R eserve.
W e r e s p e c t fu lly s o lic it C o r re s p o n d e n ce a s to T erm s.
Ample Resources. Courteous Treatment. Superior Service
scrupulous persons for their ends and that private
bankers ought not to countenance this agency.
A state bank will be formed at Hensal, N. D.
Capital, $15,000. A new building will be erected.
O f the 720 banks in the state of Minnesota 602
belong to the state association— an able testimonial
to the active, persistent work of Secretary Chap
man.
Jacob Birder, president of the Bank of Park
River, N. D., was recently killed in a wreck in Illi
nois.
DAKOTA N EW S AND
NOTES.
The Merchants Bank of Rugby, N. D., will erect
a brick bank building.
Adolph Riba of Lidgerwood may open a new
bank at Sawyer, N. D.
A new building is being erected for the State
Bank at Lawton, N. D.
The First National Bank of Westhope, N. D.,
will erect a brick bank building.
P. A. Burke of Roscoe was appointed cashier of
the First State Bank at Ferrey, S. D.
Look out for counterfeit silver in South Dakota.
A lot of it is being worked off there.
The State Bank of Hensel, N. D., has been formed
and will erect a new bank building. Capital, $15,000.
The Bank of Pierpont, S. D., has put in a new
Manganese steel safe, bought from Deright of
Omaha.
The Hill City Bank of Hill City, S. D., on a
capital of $10,000 has profits of $2,500 and depos
its of $62,570.
The First National Bank of White, S. D., has
chosen as reserve agent the Bankers National Bank
of Chicago, 111.
The Clay County Bank of Vermillion, S. D., has
been converted into the Vermillion National Bank.
Capital, $50,000.
of
The First National Bank of Pierre, S. D., has
chosen as reserve agent the National Live Stock
Bank of Chicago, 111.
A. B. Darling has been appointed assistant cashier
of the Red field National Bank of Redfield, S. D.
The First National Bank of Sisseton, S. D., has
chosen as reserve agent the National Live Stock
Bank of Chicago, 111.
The German-American Banking Company
Parkston, S. D., will erect a new building.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
August, 1904
THE NORTHWESTERN BANKER.
23
Mississippi Valiev Trust Co.,
ST. L O U IS .
Capital, Surplus and Profits, $8,300,000
Solicits the accounts of Banks and Bankers
and allows interest thereon. Excellent facili
ties for collections. Correspondence invited.
A General Financial and Trust Company
Business Transacted.
The Lakeside State Bank of Lake Andes has
opened for business. T. E. Andres, president; A.
Van der Voort, cashier.
The First National Bank of Minneapolis, Minn.,
has been approved as reserve agent for the First
National Bank of Carpio, N. D.
F. E. Jackson of Corning, Iowa, has bought an
interest in the Turner County Bank at Hurley, S.
D., and will be cashier hereafter. W. H. Robert
son, president.
The First National Bank of Finley, N. D., has
been organized. Capital, $25,000. C. L. Grandin,
president; M. L. Elken, vice-president; Elmer E.
Taisey, cashier.
Furniture is being* purchased for the new Scan
dinavian Bank at Grand Forks, N. D. Samuel Torgerson will be cashier and Anton Eckern probably
will be president.
The Chase National Bank of New York and the
Merchants National Bank of St. Paul, Minn., have
been approved as reserve agents for the First Na
tional Bank of Finley, S. D.
The Commercial and Savings Bank of Mitchell,
S. D., became a state bank July 1, instead of a pri
vate. Capital increased to $25,000. Officials re
main the same. PI. R. Kibbee, cashier.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
T.
F. Marshall and PI. C. McCartney, of the First
National Bank of Oakes, have bought interests in
the Cogswell, N. D., State Bank.
The First National Bank of Hudson, S. D., has
been organized. Capital, $30,000. James F. Toy,
president; PI. A. Stoltenberg, vice-president; C. C.
Haas, cashier; Sanrl N. Cutts, assistant cashier.
The Hanover National Bank of New Y ork and
the First National Bank of Minneapolis have been
approved as reserve agents for the Merchants Na
tional Bank of W illow City, N. D.
The Merchants National Bank of W illow City, N.
D., has been organized. Capital, $25,000. J. Rosholt, president; J. H. Sunberg, vice-president; Geo.
Sunberg, cashier; M. G. Kinn, assistant cashier.
The Carpio State Bank has been converted into
the First National Bank of Carpio, N. D. Capital,
$25,000. L. M. Due, president; O. V . Eckert, vicepresident; Ed Christensen, cashier.
Frank P. Berger has sold out his interest in the
bank at Marion, South Dakota, and Carroll parties
are now interested in the bank. L. J. Brown, son
of Bernard Brown, succeeds Frank as cashier. E.
C. Flinn of course continues in charge as one of the
owners of the bank. Frank Befger has moved to
Sioux City, where he has invested in business.
24
THE NORTHWESTERN BANKER.
T he NORTHWESTERN
August, 1904.
NATIONAL BANK 18721904
CAPITAL. $1,000,000
SURPLUS & PROFITS. $671,000
MINNEAPOLIS, MINNESOTA
O FFICER S
W m . H. D u n w o o d t , President
M. B. K o o n , Vice-President
E d w a b d W. D e c k e b , Vice-President
J o s e p h C h a p m a n , J b . , Cashier
F r a n k E. H o l t o n , Ass’t Cashier
C h a s . W. E a b w e l l , Ass’ t Cashier
S ta te m en t
June, 9, 1904
BESOUBCES
Loans and Discounts....................... $5,533,355.18
U. S. and Other B o n d s................... 1,014,640.84
Cash and Due from Banks.............. 2,732,252.60
Banking H o u s e , Furniture and
.F ix t u r e s ..........................................
223,852.42
LIABILITIES
Capital.............................
Surplus and Profits.........................
C ircu lation........................................
D ep osits.............................................
U. S. Bond A c c o u n t ........................
$9, 504,101.04
An Average o f Over 8% Annual Dividends Paid
to Stockholders Since Organization in 1872
Dividends Paid Since Organization, $2,230,000
$ 9, 501, lu i. u
W e would respectfully invite your examination of the above
Statement. I f you contemplate making- a change in your BankConnections, or think of opening a new account, we
would be pleased to confer with you in person or by letter
The new officers of the North Dakota Bankers’
Association are: M. F. Murphy, Grand Forks,
president; T. B. Hanna, Fargo, vice-president; W.
C. MacFadden, Fargo, secretary; J. G. Gunderson,
Aneta, treasurer.
The new officers of the South Dakota Bankers’
Association are: President, H. S. Rowe, Bryant;
vice-president, H. E. Perking, Sturgis; secretary,
George C. Fullinweider, Huron; treasurer, John
Schmierer, Parkston. Watertown was selected as
the place for the next annual meeting.
Plans for a new German American Bank building
at Parkston, S. D., are made. The structure is two
stories in height, made of pressed brick and stone,
and is entirely modern in every respect. It will
cost in the neighborhood of $10,000 when com
pleted. John Schmerer is cashier of the bank.
Commercial and Savings Bank, Mitchell, S. IT,
commenced business January, 1897, operated as a
private bank until July 1st, 1904, and then incor
porated as a state bank with $25,000.00 capital and
$10,000 undivided profits. Management and offi
cers remain the same. Their deposits are $121,000.
Frank Jackson, an Iowa boy, has been elected
cashier of the Turney County Bank at Hurley, S. D.,
and has moved with his wife to that city. Mr.
Jackson has had an exceptional business training in
the banking business. He is a pleasant and accom
odating gentleman. We predict for him a bright
future in that growing and prosperous country.
Robbers entered the State Bank at Trent, S. D.,
recently by prying open a rear window. A hole
was drilled through the outside of the vault large
enough for a man to crawl through. Some $300 or
$400 was secured by the robbers and they made
their escape without leaving any clew. That the
job was done by experienced men there is no doubt.
An oversight on the part of the robbers was the
leaving of three or four sacks of silver, which be
came covered with the debris from the wall as it
crumbled on the inside.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1.000,000.00
692,325.64
237, 700. 00
7.489.075 40
85 000.00
Packers’ National Bank
OF SOUTH O M A H A , NEB.
Capital, $100,000.
Surplus and Profits, $70,000.
Deposits, $1,449,000,
OFFICERS:
C o a d ’ President.
f . J . M o b i a b t y , Cashier.
A . W . T r u m b l e , V ic e President,
O h a s . A . D u n h a m , Asst. Cashier.
We invite the Live Stock Banking Business of Iow a and Nebraska
Bankers.
Although the town of Lake Andes, Charles M ix
County, S., D., is one of the newest in the state, it
is rapidly becoming a place of importance. The
latest business house to- open its doors is a bank,
which was incorporated under the name of the Fakeside State Bank. The officers of the new institution
are: T. E, Andrews, president; A. Van der Voort,
cashier.
I h e Black Hills Trust and Savings Bank of
Deadwoocl began business September 8, 1903, and
the following report shows the growth of thè ’insti
tution in the nine months it has been in business :
November 17, 1903, deposits were $39,000; January
22, 1904, deposits were $77,000; June 9, 1904, de
posits were $122,000. The officers are M. J. Gal
lup, president; R. S. Jamison, vice-president; F. M.
Brooder, cashier.
Twenty years ago, in June, 1884, the Farmers &
Merchants Bank of Iroquois was incorporated and
commenced business. With a single exception, no
business house, firm, partnership or corporation do
ing business in Iroquois twenty years ago is in ex
istence today except the Farmers & Merchants Bank.
F. F. Lostatter, the former president, has retired
from business. The present officers are: J. Balddirge, president; A. Fry, cashier; W. W. Fils, as
sistant cashier.
TH E NORTHWESTERN BANKER.
August, 1904.
G e o . H R a t h m a n , President.
M e l v . n E . B a u e r , Cashier.
25
F . L . E a t o n , Vice-President
J. H. O s b o r n e , Ass’ t Cashier
I. H. S E A R S , President
LI VE STOCK
N a tio n a l Bank;
----------------------------
S IO U X
LOCATED
AT
M. P. PETERSEN, Vice-President
J. H. H ASS, Cashier
----------------------------
C IT Y S T O C K Y A R D S .
Capital,
-
-
Surplus,
-
-
..............T H E ■
Scott County Savings Bank
$100,000.00
75,000.00
DAVENPORT, IOWA
S A V E TIM E AN D M O N E V
B Y S E N D IN G S T O C K Y A R D S B U S IN E S S D IR E C T .
Capital, Surplus and Undivided Profits,
S 4 1 3 .0 9 6 .5 5
Deposits,
Edward Tilden,
F. L. Eaton,
D IR E C T O R S :
Samuel McRoberts,
W m. Milchrist,
Geo. H. Rathman,
S 3 ,4 4 0 ,5 1 9 .0 4
Wm. Magivny.
Melvin E. Bauer.
E very Iowa lank not now a member o f the State
Association should remit jive dollars to the treasurer,
John J. Large , Rock Valley, and “ get i n f
As a
matter o f profit and loss in money you cant afford to
stay out.
IO W A N EW S AND NOTES.
The Boone National declared a dividend of 8 per
cent.
It is said that a second bank is to be started at
Goldfield.
There are rumors that another bank will soon be
established tt Eagle Grove.
Geo. W . Black is now vice-president of the First
National Bank of Gilmore.
The Williamsburg Savings Bank has had its char
ter extended for twenty years.
The corporate existence of the First National
Bank of Grundy Center has been extended twenty
years.
The First National Bank of Emmons recently de
clared a 4 per cent dividend on its first year’s busi
ness.
The Monroe National Bank of Monroe has been
organized. Capital, $25,000. Chas. T. Schenck,
cashier.
The stock subscribed for the new bank at Parnell
is over $20,000. It will be easy to get the required
$25,000.
The Guthrie County National Bank of Panora
has secured an extension of its charter for another
twenty years.
The First National Bank of Coon Rapids has
chosen as reserve agent the Union National Bank
of Omaha, Neb.
The First National Bank of Manchester has
chosen as reserve agent the Hamilton National of
Chicago, Illinois.
The Garnavillo Savings Bank; capital $10,000;
W . F. Meer, president; Henry Dittmer, cashier, is
doing business.
The First National Bank of Cumberland has
chosen as reserve agent the Continental National
Bank, Chicago, 111.
The First National Bank of Chicago, 111., has
been approved as reserve agent for the First Na
tional Bank of Inwood.
The First National Bank of Cumberland has
chosen as reserve agent the Commercial National
Bank of Chicago, 111.
The Corn Exchange National Bank of Chicago,
111., has been approved as-reserve agent for the First
National Bank of Akron.
The Farmers and Drovers State Bank of Sey
mour is one of the well managed banks of the state.
LeRoy W are is cashier.
The state banking department has lost a state
bank. The Citizens State Bank of Sioux Center
becomes a national bank.
The Redlyn Bank is open for business with Geo.
I.
P. Boyd, the former editor of the Buffalo CenHough as cashier. It occupies a fine new brick
ter Tribune, has gone into the hanking business at building and is backed by the solid farmers of the
neighborhood and other capitalists.
Buffalo Center.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TH E NORTHWESTERN BANKER.
2Ô
O F F IC E R S
J. H . M
i
;
il l a r d
'^ E S T A B L I S H E D
August, 1904.
1866
, P r e s id e n t
W m . W a l l a c e , Vice-President
C F . M c G r e w , Vice-President
Ch as . E. W a i t e , Cashier
F r a n k B o y d , Assistant Cashier
D IR E C T O R S
J. H. Millard
Guy C. Barton
C. H. Brown
N. W. W ells
C. F. M cGrew
A. J. Simpson
I. W. Carpenter
W. M. Burgess
Wm. Wallace
T he O maha N ational Bank
OMAHA,
C APITAL,
NEBRASKA
-
-
$1,000,000.00
t
It has been held in Des Moines that the city could
not demand interest from the banks on deposits of
city money.
The First National Bank of Newton has put in
handsome new mahogany fixtures and otherwise
beautified the bank building.
Charles B. Murtah, cashier of the State Bank of
Ringsted, was .recently married to Miss Edna
Craty at Armstrong, Iowa.
The Peoples Trust and Savings Bank of Clinton
has issued a handsome souvenir postal card showing
a picture of their bank building.
H. D, C O P E L A N D Sc CO.
Lm Stock
Commission merchants
Mr. Copeland was form erly an Iowa Banker
and State Bank Examiner from 1884 to 1893
183 N e w E xc h an g e B u ild in g
U n io n S to c k Yards
REFEREN CES
National Live Stock Bank, Chicago
National Bank of Republic, Chicago
C
h ic a g o
L IV E S T O C K S H I P M E N T S S O L IC IT E D
The Citizens State Bank of Sioux Center has
been converted into the First National Bank of
Sioux Center, capital $25,000.
George Hobbs will serve thirteen months in the
J.
C. Harwood and Miss Edna Hanna of Vinton penitentiary at Anamosa because of a number of
were married June 15th. Mr. Harwood is cashier forgeries worked upon Sioux City people last April.
of the Bank of Garrison.
The Citizens National Bank of Davenport lately
The Dickinson county bank has been rechartered paid its semi-annual dividend at 3 per cent to its
by the auditor. Its capital is $50,000. F. H. Daley stockholders, which called for the distribution of
is the president of the institution.
$9,000.
The United States National Bank of Omaha,
Neb., has been approved as reserve agent for the
Farmers National Bank of Hamburg.
The marriage of Miss Nellie Eoonan and C. W.
Bedford took place at Hudson June 28. Mr. Bed
ford is cashier of the First National Bank.
The private bank of Hugh Waddell at Cumber
land will be changed into a national bank and the
capital stock will be placed at $25,000.
A charter was issued to the Dundee Savings Bank
at Dundee, Delaware county; capital $10,000; H.
A. Van Owen, president; E. C. Hesner, cashier.
The First National Bank of Coin has been or
ganized. Capital, $25,000. T. H. Read, president ;
Elbert A. Read, vice-president; J. F. Schick, cashier.
The articles of incorporation of the McClelland
Savings Bank of McClelland, Pottawattamie coun
ty, have been filed. The bank has $10,000 capital.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The First National Bank of Cumberland has been
organized. Capital, $25,000. A. Dixon, presi
dent; Hugh Waddell, vice-president; C. A. Baker,
cashier.
The Burlington Savings Bank, capital $100,000;
H. D. Copeland, president; J. Glanr, vice-president,
has started business. George C. Swiler was elected
cashier.
A t Lake City on July 3 Miss Carrie Mabel Ful
ler, eldest daughter of Mr. and Mrs. J. H. Fuller,
was married to Manly. Vernon Keith, cashier of the
Bank of Farnhamville.
The pleasant and popular cashier of the Shen
andoah National Bank, Ellis Tucker, was married
recently at Omaha, the bride being Miss Sallie L.
Cox. The cashier stood bravely at the window and
checked up all right and received his deposit of hap
piness.
August 1904.
2;
T H E NORTHW ESTERN BANKER.
Iowa S tate National B ank
Sioux City, Iowa.
^ A A A A A A A A A A A A A A ^ A A A /N A A A A A A A ^ A A A /^
5
\
<
C A P IT A L ,
SURPLUS,
D E P O S IT S ,
.
C E O . W E A R E , P re s id e n t.
-
-
-
$
-
-
2 0 0 ,0 0 0
8 0 ,0 0 0
1 ,9 3 8 ,7 3 7
>
[
£
. O F F IC E R S . . .
J O H N M c H U C H , C a s h ie r.
H. A. J A N D T , V ic e -P r e s .
T h i s b a n k h a s u n e x c e l l e d f a c i l i t i e s f o r t h e p r o m p t a n d c a r e f u l h a n d l i n g o f a l l b u s i n e s s e n t r u s t e d to It.
The Black Hawk National Bank of Waterloo has
surplus and profits of $38,000 instead of $7,000, as
given by mistake in a former number of this jour
nal.
In a fire discovered in the private offices of the
First National Bank of Fonda recently the inte
rior of the offices was badly damaged. The origin
of the fire is unknown.
There is considerábale talk to the effect that an
other bank will be started at Essex soon. J. A.
Eckworth, Ered Falk, A. Hallberg and others are
prospective stockholders.
W . J. Edwards, cashier of the Exchange Nation
al Bank of Leon, died suddenly of apoplexy July
7. He was 38 years old and very popular among
a large circle of friends.
On June 15th, in Watkins, occurred the mar
riage of Mr. Everett Mayne and Miss Beulow of
Watkins. Mr. Mayne is the assistant in the First
National Bank of Rolfe.
The Sunbury Savings Bank on July 1st paid a
5 per cent dividend and added $600 to its surplus ac
count and also a goodly sum to undivided profits.
Their deposits are $130,000.
A t a recent meeting of the directors the State
Bank of Dexter declared a semi-annual dividend of
5 per cent. This is a good showing and an indica
tion of the bank’s prosperous condition.
W ilton’s new bank is to be known as the Farm
ers’ Savings Bank. The capital stock is to be $20,000. W ork is to begin at once on the erection of
a new building as a home for the bank.
There has been some talk of consolidating the
Iowa Valley State Rank and the Belmond Savings
Bank and establishing a new private bank, but so
far neither of the projects have materialized.
The treasurer of state has collected the first install
ment of interest on state funds deposited in banks,
$4,000 being turned into the treasury as the earn
ings on the state funds under the Lewis law.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
• G u y C. B a r t o n , President
■ E. A. C u d a h y , Vice-President
j C. B . A n d e r s o n , Cashier
H. C. B o s t w i c k , Vice-Pres.
T r u m a n B u c k , Vice-Pres.
H. C. M i l l e r , Ass’ t Cashier
Cbe South Omaha nati Bank
j
;
;
i
SOUTH 0M H H 3, NEB.
C A P IT A L ,
$ 2 5 0 .0 0 0
H
SU RPLU S,
« 2 5 0 ,0 0 0
P R O F IT S ,
$ 1 0 2 ,6 0 0
CC0UNTS of Banks transacting business with the Stock Yards
received on the most favorable terms. Interest allowed on
?
balances. Collections receive prom pt attention and funds
J disposed of as requested without loss of time.
|
j
j
)
The First National Bank of Akron has been or
ganized. Capital, $30,000. James F. Toy, presi
dent; M. A. Agnes, vice-president; Geo- C. Eyland,
Jr., cashier; Harry C. Cain, assistant cashier.
The Waterloo Loan & Trust Company, with a
capital of $25,000, will soon be doing business un
der the management of W. R. Jameson and W. J.
French, both experienced and successful bankers.
The Central Savings Bank of W hat Cheer has
opened for business in the fine new red sand stone
building erected for it. Dr. C. L. Wilson is presi
dent and G. D. Horras, cashier of the new bank.
The secretary of state has received the articles of
incorporation of the Farmers and Merchants State
Bank of Coin, Page county. Charles Hart and oth
ers are incorporators and the capital stock is $25,000.
Within the
been paid for
ings Bank of
the highest
Moines.
past few weeks $300 a share cash has
stock of the Security Trust and Sav
Des Moines. The price is considered
ever paid for bank stock in Des
The directors of the Farmers Savings Bank of
Kalona at their annual meeting elected Miss Blanche
Morgan to the office of vice-president. One thous
and dollars of the profits was transferred to the
surplus fund.
28
TH E NORTHWESTERN BANKER.
L. A. GODDARD,
P r e s id e n t
C h as .
L.
Farrell,
The Fort Dearborn
National B a n k ^
V i c e -P r e s i d e n t
K ent,
C a s h ie r
PECIAL attention to the accounts of Banks and Bankers.
We invite correspondence or a personal call. Every
officer devotes his entire personal attention to the Bank,
endeavoring to render every service favoring and guarding
the interests of customers.
S
The articles of incorporation of the Crawford
County State Bank of Denison have been filed with
the secretary of state. This is a re-incorporation or
renewal for another twenty years. The bank has
$50,000 capital.
Des Moines and Grimes capitalists have organ
ized the Luther Savings Bank, capital $10.000.
Articles of incorporation will soon be filed. C. H.
Martin, cashier of the Des Moines Peoples Savings
Bank, is a large stockholder.
The Waterville Savings Bank accepted the resig
nation of W . F. Nierling as cashier and John L.
Opfer was elected to fill the vacancy. He took the
position July 1st. The drectors of the bank also de
clared a 7 per cent dividend.
The net profits of the Guttenberg State Bank the
past year were 19.22 per cent. O f this amount 7
per cent was paid in dividends, 10 per cent placed
in the surplus fund and the balance was charged off
on the building, furniture, etc.
Daniel Griffin takes up the position of acting
vice-president of the Anthon State Bank. Mr. G rif
fin has been a stockholder and director since that
bank’s organization. He has lived in that part of
the county for over twenty years.,
T. Lashford, cashier of the Security Savings
Bank of Boone, has resigned to accept a similar po
sition with the Boone National Bank. A. J. W il
son, whose place he takes, has resigned to accept
service in a bank at Sioux City.
C. J. Weiser, president of the Winneshiek Coun
ty State Bank and one of the most prominent citi
zens of Decotah, has donated a fine $1,800 town
clock to the county to be placed in the new $16,000
court house now being erected at Decorah.
W . M. Evans of the First National Bank of
Centerville has been signing his name with the title
of assistant cashier since the first of July. He has
long held the confidence of his employers, his new
title being a public testimonial of that confidence.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
$ 5 0 0 ,0 0 0 . 0 0
S urplus
V i c e -P r e s i d e n t
R.
Ca p it a l ,
C H IC A G O , IL L IN O IS
N elson N . L a m p e r t ,
H en ry
August, 1904.
U. S. DEPOSITORY.
C itiz e n s
N a tio n a l
and
P r o fit s ,
$ 1 64, 784.46
B General Bank
ing Business j*
transacted. j*
Capital, $300,000
Surplus, 100,000
Officers:
B a n k «««
D a v e n p o rt, Io w a .
F. H. Griggs, Pres.
Jens Lorenzen,
Vice-Pres.
Aug. A. Balluff,
Cashier.
F. C. Kroeger,
Asst. Cashier.
S. G. Hawes has sold his controlling interest in
the Citizens’ Savings Bank of Dysart to F. F. McElhinney of Waterloo. Mr. McElhinney has been
elected vice president and S. G. Hawes, who was
cashier, has been succeeded by E. M. Suit.
The Boyer Valley Banking Company of Kiron
will be succeeded October 1 by the Kiron State Bank
with a capital stock of $25.000. During the first
year Henry Hanson will serve as president, August
Lundell vice-president, and W . J. Sandberg cashier.
A t a meeting of the stockholders of the Anthon
State Bank Cashier C. E. Hass handed in his resig
nation and his place will be filled by D. H. H aw
thorne, who for several years has been assistant
cashier, and he in turn is succeeded by Daniel G rif
fon.
Luther is falling in line with other towns and has
had a bank organized. The new banking organi
zation will be known as the Luther Savings Bank,
with a capital stock of $16,000. The organizers of
the bank are prominent business men of Luther,
Madrid and Grimes. The officers are, president,
M. H. Thatcher; vice-president, J. E. Bennett;
cashier, O. M. Thatcher.
29
TH E NORTHWESTERN BANKER.
August, 1904.
THE DROVERS DEPOSIT NATIONAL BANK,
WM. H. B R IN TN A L L ,
President.
UNION STOCK VABDS, CHICAGO.
EDW ARD TILDEN,
Vice-President.
WM. A. TILD E N ,
#
____________
CAPITAL AND
Cashier.
T o B a n k s a n d B a n k e rs H a vin g : M o re or L e s s L iv e S to c k B u s in e s s , t h is
GEO. M. BENEDICT,
Ass’ t Cashier.
B a n k O ffers E x c e p t io n a l A d v a n t a g e s , a n d S o lic it s C o r r e s p o n d e n c e as to T e rm s
a n d F a c ilitie s .
A GOOD
$ 7 5 0 .0 0 0 .0 0
A ls o a c ts as R e s e r v e A g e n t fo r N a tio n a l B a n k s.
BANK
SURPLUS,
O P P O R TU N ITY .
An old established bank (national) in well developed agricultural section of the Northwest desires to form connections
with individuals or others having surplus funds for investment, for an outlet for from $50,000 to $100,000 per annum in high
class securities. Bank has been established about twenty years; has highest reputation, both local and foreign, and during
all of tbs time it has been in operation, has conducted a thoroughly satisfactory and paying business.
A rate of 5 to 6 per cent per annum net to investors can be made on absolutely safe securities, carefully investigated
and looked after; free from fluctuations in market values and based on values where the tendency is upwards not downwards.
The responsibility of the bank and its officers will be clearly established to the satisfaction of any investor, and investi
gation along this line will be courted. Address,
B . N . D .,
C a re N o r th w e s te r n B a n k e r ,
DES
M O IN E S , IO W A .
The two private banks at Havelock have been
consolidated into a national bank with a capital of
$25,000. J. P. Farmer is president of the new
institution, Sam Gill is vice-president and W ill H ar
ris, a former Calhoun county boy, is assistant cash
ier.
Stockholders of the Iowa State Savings Bank of
Fairfield increased the surplus of the institution
from $30,000 to $60,000, making the surplus ecpial
to the capital stock. A s an indication of a success
ful season’s business this institution has declared a
semi-annual dividend of 6 per cent.
A t a recent meeting of the Montrose Savings
Bank W. G. Goodrich resigned the position of cash
ier to take effect August 1. William Cook has been
appointed to fill the vacancy. W. G. Goodrich still
remains as president of the institution. He will go
with a larger institution.
A t the recent Iowa convention the friends of J.
T. Brooks of Hedrick wanted to bring him out as a
candidate for treasurer, but Mr. Brooks would not
allow his name to be presented in opposition to Mr.
Large. Next year, however, the friends of Mr.
Brooks expect him to have a clear field.
Late Collins and Mr. Vandrimmelen from K nox
ville have been investigating Pella and there is a
rumor afloat they they contemplate starting a bank
there. . In conversation with Mr. Collins he said
that the deal for a new bank, although not yet cer
tain, will probably go through.
It is reported that E. O. Soule, the defaulting
cashier of the Home Savings Bank of Iowa Falls,
has disappeared and that his present whereabouts
are unknown. Against Soule in the Hardin dis
trict court for August are pending several actions
charging him with forgery and embezzlement.
The Donahue Savings Bank has been organized.
The stockholders are twenty-five residents of Dona
hue and Allen Grove township, and the capitaliza
tion will be $10,000. Its officers are as follows:
President, G.. F. Burmeister; vice-president, Frank
K eppv; cashier, F. C. Keppy.
Deater, the cashier of the Underwood Bank, who
was arrested some weeks ago on the charge of
threatening to kill J. A. Miles, who he alleged to
have spread damaging reports about him, was re
leased upon the payment of a fine of $25 and csost,
the total amounting to between $50 and $50.
Merrill Bowers has bought an interest in the Le
Roy Bank, in which he will have a responsible posi
tion. ■ M.r. Bowers is entirely competent for the po
sition lie will occupy, as he possesses a thorough
business training acquired both in school and in
practical work as assistant cashier of the Cresco
Union Savings Bank.
The State Savings Bank, a new banking institu
tion of Hampton, opened its doors July 1st. The
new bank is owned by nearly forty stockholders, the
principal ones being C. D. Williams and O. F. Mey
ers of Hampton, and J. J. McGuire, cashier of the
First National Bank at Lake Crystal, Minn. Mr.
McGuire is the cashier of the new institution.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TH E NORTHWESTERN BANKER.
30
August, 1904.
* * * * * * * * * ** t t
i n
Peoples Trust
jg
is
0 Savings Bank of Clinton
MARCH
2!, 190-4
L ia b ilitie s
R esources
C a p ita l.................... - ............................................ $ 300,000.00
140,000.00
Surplus .................................................. .............
Undivided P ro fits............ ..................................
52,728.65
Deposits-Sight, $1,042,421. 35; Time,$2,986,807.61 4,029,228.96
L o a n s ...................................... ........................$ 3,600,422.51
C a sh ...........................................$ 79,360.01
Due from Banks........................ 842.185 09
921,545.10
T otal.......................................... ................... $4,521,967.61
Total................................... ....................$4,521,967.61
Solicits profitable and conservative business and promises its customers liberal accommodations at all times.
GARRETT 12. LAIVÏB, President.
CH AS. B. .VIII.I.S, Cashier.
CH AS. P. ALDEN, Vice-President.
W A R D W . COOK, A s s ’t Cashier.
The National BanK of C om m erce
OR A1 1rs INi; A R OR I¿s , MINNESOTA
W i t h its C A P I T A L A N D S U R P L U S o f S i , 2 0 0 , 0 0 0 O O ,
a n d A D E Q U A T E : E Q U I P M E N T in E V E R Y D E P A R T M E N T ,
w o u l d b e PI e a s e d to H a v e a b h a r e o f "Y o u r b a n K in g b u s i n e s s
“ S A F E T Y ,”
“ PROM PTNESS,”
S. A. HARRIS, P r e s .
“ LIBERALITY”
F. E. KENASTON, V i c e -P r e s .
G. W. Marquardt has tendered his resignation
as president of the Marquardt Savings Bank to the
directors, to become effective as soon as convenient
to them. Mr. Marquardt is anxious to free himself
of business cares. It is said that his successor will
not be chosen until the annual meeting in January.
The First National Bank of Audubon has de
clared a dividend of 11 per cent and set aside 3 per
cent of that amount as a surplus account. This
showing must be highly gratifying to the stock
holders, and shows the bank to be doing a fine busi
ness.
The capital stock of the J. F. Johnson Bank of
St. Charles has been increased to thirty thousand
dollars. It has a surplus of six thousand dollars and
a daily average deposit of fifty-two thousand. This
condition insures safety to the patrons and the bank
a desirable institution with which to do business.
The Hancock Savings Bank of Hancock is a new
corporation. The officers are: President, J. H.
Jenks, Avoca; vice-president, G. Diedrich, Avoca;
cashier, Fred J. Boie, Hancock. These three, to
gether with N. Hodgson of Des Moines and John
J. Spindler of Moberly, Mo., are named as incor
porators. The amount of capital stock is $15,000.
The new town of McClelland on the Great W es
tern railroad is soon to have a bank. Articles of in
corporation have been filed for the McCleland Sav
ings Bank. Some of those interested are residents
of Council Bluffs. The directors are William Arnd,
F. F. Everest, P. W . Cramer, D. F. Dryden and
W. F. Lively. The authorized capital of the bank is
$10,000.
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Federal Reserve Bank of St. Louis
AND
A. A. CRANE, C a s h i e r
“ CO U R T ESY ” A R E OUR W A T C H W O R D S
W .S. HARRIS, A s s ’ t C a s h i e r
G.E. WILLIAMSON, A s s ’ t C a s h i e r
The failure of the Exchange Bank at Maquoketa
is a bad one. It is believed the liabilities will foot
up from $175,000 to $200,000 and that the deposi
tors will not realize over 20 per cent. The bank
seems to have been going down hill for a number
of years. Many farmers and old residents are
heavy losers. It was one of the old banks of the
county.
State Bank Examiner Buchan says that the bank
ing institutions in his part of the state are flourish
ing and that all through Northern Iowa, and, in
fact, through the entire state, new institutions are
incorporating on a broad basis. He also says the
crops in the northern part of the state are in good
condition and the farmers are looking forward to
a good harvest.
Since the fire several months ago which destroyed
the bank building of Maben Bros, at Kiester, that
town has had but one bank. A new one will be
started in a few weeks, however. Henry and Nels
Baker of Wells have purchased the lot on which
the Mähen bank stood and will erect a building
thereon. As soon as the structure is completed they
will open a bank.
R. E. Mosely, a well-known bankers and capital
ist of Lake City, was taken to Cherokee July 17,
after being declared insane. The unbalancing of
his mind is due to politics. Mr. Mosely attended
the national democratic convention at St. Louis, and
since his return has talked but little else. His in
tense enthusiasm for the democratic candidate was
too much for him.
TH E NORTHWESTERN BANKER.
August, 1904.
3i
It^ipThis is the Victor Manganese Steel
Safe which won the Competitive Bur
glarious d est held at Clark’s Grove,
Kentucky, on July 25th, to determine
the merits of Manganese Steel Safes.
Write for full particulars of the test.
T h e Victor Safe and LocK Co.
C I N C I N N A T I , O H IO .
Im pr o v e d
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Federal Reserve Bank of St. Louis
a
^d P a t e n t e d .
TH E NORTHWESTERN BANKER.
32
SECURITY
SAYINGS
BANK
Cectaf Rapids
Does no Commercial Banking, but offers for Iowa business the services
of a careful, competent and exclusive Savings Bank, paying interest on
deposits at the rate of
Per
Cent.
‘^DIRECT CONNECTIONS^
The C e d a r Rapids N a t i o nal B a n k
C apital and S u rp lu s ,$ 150,000.00
D eposits,
1, 288,101.58
4
August, 1904.
G. F . V A N V E C H T E N , P r e s i d e n t
E. M . S C O T T , C a s h i e r
C E D A R R A P ID S , IO W A
C a p ita l and S urplus,
A T. A v e r i l l , President
G. F . V a n V e c h t e n , Vice-Pres.
R a l p h V an V e c h t e n , Cashier
F e n t C. F e r m a n , Ass’t Cashier
J o h n F l e t c h e r , A s s t Cashier
A. S motjse , Auditor
-
$200,0 00
The Fonds of National Banks
on Deposit with this Bank Count
as Legal Reserve.
jt
U N IT E D STA TES D E P O S IT A R Y
C. C. Prouty, a well known business man, has
been elected to the directory board of the Valley
National Bank of Des Moines to succeed the late
C. H. Dill worth. No successor to Mr. Dill worth
as vice-president has been selected, the place being
left vacant for the present. A t the same meeting
the directors declared their usual dividend, being
the forty-second consecutive one.
A transfer of the stock in the Manning and Ep
person State Bank of Eddyville took place recently.
Grant Cowley, one of the directors, purchased
twenty shares belonging to the I. S. Riggs estate
at $1.55. The price paid in itself shows the pros
perous condition of the hank, taking into considera
tion that the bank has been in existence but two
years and a half.
The annual meeting of the Woodward State
Bank was held recently. This closed the second
year’s business since the bank was merged into a
state institution, A year ago a dividend of 5 per
cent was declared. A t the last meeting it was
found that the business of the past year had been
such as to warrant a dividend of 6 per cent and also
a surplus of $1,300 undivided profits.
Announcement is made that A. E. Stocker, who
has been assistant cashier of the Oskaloosa Savings
Bank during the past five years, has resigned to ac
cept the offered position of cashier of the Erankel
State Bank. B. E. Shafer, the former cashier
through a term of thirteen years, is to he made vicepresident of this institution, with general super
vision of the various interests.
A t a recent meeting of the Ottumwa National
Bank the resignation of W . S. Hogue, who has
withdrawn to engage in other business, was accept
ed. Mr. Hogue was with the bank twelve years
and a testimonial of the esteem in which he is held
was passed. The directors then elected Robert W.
Funk, who has been teller for the past three years,
to the position of assistant cashier.
The ownership of the Swan Bank has changed.
J. F. Samson and J. M. Harlan have sold their
stock to C. P. and G. P. Christianson of Randall.
The Messrs. Christianson are owners of the bank at
Randall and also have a large grain and elevator
business and Iowa real estate and town property,
and are gentlemen of means. G. P. Christianson
has been for the last four years the member of the
legislature from Hamilton county. The officers of
The Swan Bank will be G. P. Christianson, presi
dent; C. P. Christianson, vice-president; W . H.
Wier, cashier, and Mary C. Wier, assistant cashier.
A. J. Wilson, who has been cashier of the Boone
National Bank since its organization, has severed
his copection with it and will go to Sioux City,
Mr. Wilson is a thorough and efficient banker. As
his successor the directors have chosen T. L. Ash
ford, who has been for some time with the Security
Savings Bank. Otto C. Herman will succeed Mr.
Ashford as cashier of the Security Savings Bank.
The directors of the State Bank of Tabor re
cently made two changes in the bank officers. H. C.
Dye, who has been cashier of the bank for the past
eight years, resigned that office and was elected
vice-president to succeed W. W . Mickelwait, re
signed. C. L. Hall was elected cashier to succeed
Mr. Dye. The changes were made at the sugges
tion of Mr. Mickelwait, whose large business inter
ests elsewhere demand his entire attention. Mr.
Dye also assumes the general supervision of the
bank.
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Federal Reserve Bank of St. Louis
Attention Comrades.
The Chicago Great Western Railway has been
named the official route to Boston for Kinsman Post
G. A . R. Tourist Car will leave Des Moines A u
gust 11th at 9:05 P . M ., arriving Chicago 8:55 the
next morning. Stop over one day at N iagara Falls.
A most attractive trip at very low expense. For
full information apply to E. J. Sawyer, C. T. & P.
A ., 514 Walnut Street.
Traveling by the New York Central Line— the
Michigan Central, or the Lake Shore & Michigan
Southern from Chicago, if you miss one train, you
have only to wait a very short time for another. 8
trains a day. Chicago to New York.
T H E N O R T H W E STE R N B A N K E R .
August, 1904.
First
National Bank
DUBUQUE,
:
Capital, $200,000.
THE
IOWA.
Surplus and Profits, $64,039
33
First National Bank,
■
O F S IO U X C IT Y , IO W A .
C APITAL, $ 2 0 0 ,0 0 0 .0 0 . SURPLUS AND PROFITS,
$ 1 1 8 ,0 0 0 .0 0 . D EPOSITS, $ 1 ,4 5 6 ,8 0 3 .0 0 .
OFFICERS.
C. H. EIGHMEY,
President.
E. A. ENGLER,
Vice-President.
O. E. GUERNSEY,
Cashier.
B. P. BLOCKLINGER,
Assistant Cashier.
DIRECTORS.
C. H. E i g h m e y ,
E. A . E n g l e r ,
G e o . A. B r it d e n ,
F. W . C o a t e s ,
M. M. W a l k e r ,
J a s . C. C o l l i e r ,
B. F B l o c k i n g e r .
O. E. G u e r n s e y
John McHugh says that the building which
would be erected for the home of the Iowa State
National Bank of Sioux City would not be started
until next spring. Although the new owners come
into possession of the property July 1, Mr. McHugh
said it was likely that the old buildings would not be
removed until they shall be ready to build. The
size of the building has not been decided on.
William Heuer, the city treasurer, has been elected
cashier of the Union Savings Bank at Davenport at
the meeting of the directors of that institution and
he has signified his intention to accept. The Union
Savings Bank recently lost its cashier by the death
of S. L. Ely. Mr. Heuer is one of the best known
young men of Davenport, with a business experi
ence which fits him to occupy the position he has
been called to fill.
A t a special meeting of the stockholders of the
First National Bank of Sioux City .the old articles
of association and by-laws which -were established
in the year 1870 were amended, owing to the several
changes in the national banking laws in the last
thirty-four yearc. Harry A. Gooch was formally
elected cashier and director. A 3 per cent semiannu
al divided was declared to be paid from the earn
ings of the last six months and the balance was
passed to the surplus account.
The appraisers of the property of the late L. Z.
Leiter listed 100 shares of the capital stock of the
First National Bank of Newton and this is ap
praised at $20,000, or $200 per share. Mr. Leiter
paid $10,000 for this stock. Mr. Leither was one
of the original stockholders of the bank and a per
sonal friend of the late J. H. Lyday, having been
born and raised in the same town. It has been a
paying investment, over $17,800 being paid to him
since the organization of the bank.
A special premium offered at the fair this fall for
the boy making the best exhibit in the boys’ de
partment is given by the Jasper County Bank of
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Federal Reserve Bank of St. Louis
Accounts of Banks received on liberal terms. A large
list of par points in Iowa, Minnesota, Dakota, and
Nebraska. Collections carefully and promptly made.
JAMES F. T O Y , P r e s i d e n t .
A . GRONINGER, V ic e - P r e s i d e n t .
C. N. LUKES, C a s h i e r ,
J. F R ED T O Y , A s s t . C a s h i e r .
Newton as follows. The bank will give to the suc
cessful boy the use of a nickel plated steel savings
bank to be kept by him as long as he wishes to use
it, also a credit on the books of the Jasper Copnty
Bank of $5, payable in one year with interest from
date. The bank in this way wishes to encourage
the boys of Jasper county.
A new point will be raised in connection with
the failure of the Corning State Savings Bank, the
result of which will be of wide interest in Iowa.
The creditors have practically agreed to institute
suit against the directors of the bank for the deficit,
amounting to about $100,000, alleging negligence.
The action has not been filed, but will be in a few
weeks when all the preferred claims are disposed of,
showing just what the deficit will be.
The condition of the Des Moines national banks
as shown by the statements issued on the comptrol
lers call of June 9, gives an increase of combined re
sources of $28,147.67 over that of the last previous
call, being that of March 28. Individually every
national bank in the city has received an impetus in
its business as shown by the report of the financial
condition, although small it may be. Loans have
increased in some measure, perhaps forming a con
siderable portion of the gain shown.
Rates Less than One-half.
For round trip tickets, will be in effect via Minne
apolis & St. Louis Railroad for following occasions:
Boston, Mass . G. A . R. Encampment. Dates of
sale August 21, 12 and 13. Final limit August
20th, with privilege of extension to September 20th.
San Francisto and Los Angeles, Knights Templars
Concalve. Dates of sale August 15th to Septem
ber 10th. Final limit October 23rd. Tickets good
going one route and returning another and stop
overs allowed.
Portland, Ore., American Mining C o n g r e s s .
Dates of sale August 15 to 18. Final limit sixty
days from date of sale. Diverse route and stop
overs permitted.
Call on agents for particvlars, or address A . B.
Cutts, G. P. & T. A ., Minneapolis, Minn.
T H E N O R T H W E STE R N B A N K E R .
34
August, Î9O4.
Baker-Vawter Bank System at the World’s Fair
The Bankers World’s Fair National Bank, on the World’s Fair Grounds,
St. Louis, is operated with a complete system, devised, manufactured
and installed by Baker-Vawter Company. There can be seen in opera
tion those ideas we have gathered from the many financial institutions
into which our accountants have been called.
BAKER-VAWTER COMPANY,
A c c o u n t a n t s , A u d i t o r s , D e v is e rs o f C o m p l e t e B u s i n e s s S y s t e m s
Physical and Accounting Examinations-
Tribune Building, CHICAGO
Audits and Appraisals with Certificates.
350 B roadw ay,N EW Y O R K
The sudden death of Banker J. W . Alden of
Shenandoah was a great shock to the bankers of the
state with whom he was acquainted. He organized
the Bank of Imogene, of which he was president,
and remained there over eight years. Then in 1892
at Shenandoah he organized the Farmers and Trad
ers Bank, which was in 1900 reorganized into the
Commercial Savings Bank, of which he was also
president until June, 1901, when he resigned from
active work on account of a slight attack of apo
plexy, and from which disease he suffered another
attack the 10th of June, passing away in a very few
hours thereafter.
A deal has been consumated whereby the Com
mercial Bank of Atlantic becomes a part of a new
organization which will be known as the Iowa
Trust and Savings Bank. The capital of the new
institution will be $100,000. The new bank will
begin business the first of August. The personnel
of the bank includes besides Messrs. Bruce, Harlan
and Forshay, such men as Senator Titus of Mus
catine, Charles Van Gordner, president of the First
National Bank of Audubon ; W . J. McBroom of the
First National Bank of Geneseo, 111., as well as a
number of other men of this locality and Des
G
e r m a n
S
Moines, who are prominent in financial circles. The
new bank will do a general commercial and savings
bank business. In addition they will make a special
ty of investing in farm mortgages. Among the
men who will be actively identified with the new in
stitution will be Senator Bruce, who will be the
president; B. D. Forshay; vice president. Among
the directors will be J. S. Harlan, who has been
closely identified with its banking interests for near
ly thirty-five years. In 1870 he began his career in
Atlantic and ever since that time has been one of
the most active and public spirited men in the place.
Interest rates are high in Northern and north
western Iowa. Practically no- money is being loan
ed at less than 7 per cent and 8 per cent is not ex
ceptional by any means. Three years ago it was al
most impossible to lend money at any rate there
abouts. Five per cent was the prevailing rate on
farm loans. Money went begging at these rates,
because every farmer seemed to have a surplus of
funds he was anxious to place and borrowers were
few. The changed financial conditions are due to
the fact that the money, by hundreds of thousands
of dollars, has gone into North and South Dakota
and Canada. Finable to place his surplus at home,
a v in g s
B
D AVEN PO R T, IO W A .
J E N S L O R E N Z E N , Pres.
C H A S . N . VO SS, V ice-P res. and Cashier.
A . A N D R E S E N , A s s ’t Cashier.
E D . K A U E M A N N , A s s ’t Cashier.
a n k
,
S T A T E M E N T H P R IL 3 0 . 1 9 0 4 .
ASSETS.
Loans................................................................ 16,928,302.26
Cash and Exchange........................................
734,993.85
Real Estate and Personal P roperty..........
28,930.46
Total Assets.......................................... »7,692,226.65
DIRECTORS.
F. G. CLAUSSEN,
CHAS. N. VOSS.
H. H. ANDRESEN.
JENS LORENZEN.
H. O. SEIFFERT,
F. H. GRIGGS.
H. LISCHER
T . A. MURPHY.
PAULO RODDEW IG.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
L IA B ILITIE S.
Deposits.......................................................... »6,7 5,830.76
Capital............................................................
500,000.00
Surplus.............................................................
200,000.00
Undivided Profits..........................................
256,300.80
Dividends U n p a id ......................................
95.00
Total Liabilities.................................. »7,692,226.56
August, 1904.
THE NORTHWESTERN BANKER.
35
Ih e N a u m a n C o .
W A T E R L O O , IO W A .
M anufacturera of
Bank F ix tu re s
Catalogues Pree
PLANS AND E S T I M A T E S FURNISHED
The F i d e l it y & (Casualty C o m p a n y ,
97 to 103 Cedar S t., New York: City
A s s e t s ........................................................................................................... $ 5 ,9 0 0 ,8 6 1.56
INet S u r p lu s ................, .........................................................................
1,2 3 0 ,5 6 7 .7 6
L o s s e s F*aiU to D ecem ber 31, 1003......................... 17,608,1 3 0 .7 2
CASUALTY INSURANCE SPECIALTIES.
F i d e l i t y — Bonds of Suretyship for persons in positions of trust.
C
a s u a l t y
—
Personal Accident and Health, Liability, Burglary, Plate Glass, Steam Boiler, Eleva
tor and Flywheel. ____________________
O FFICER S.
GEORGE E. S E W A R D , President.
H E N R Y C R O S S L E Y , A s s ’t Sec’y.
R O BE R T J. H I L L A S , V . Pres., Sec’y..
F R A N K E. L A W , 2d A s s ’t Sec’y.
E D W A R D C. L U N T , 3d A s s ’t Sec’y
DIRECTORS.
Wallace P. Dixon, Dixon & Holm es; A lfred M. Hoyt, Banker; Aurelius B. Hull, Retired Merchant; Geo.E. Ide, Pres. Home L ife Ins. C o.;
William G. Low, Counsellor-at-Law ; John G. McCullough, Erie Railroad C o .; William J. Matheson, M erchant; H enry E. Pierrepont,
R etired; Anton A. Raven, Atlantic Mutual Ins. Co. ; John L. Riker, o f J. L. & D. S. R iker; W. Emlen Roosevelt, Banker; Geo. G. W il
liams, Pres. Chemical Nat’ 1 Bank ; Alexander E. Orr, Retired Merchant ; George F. Seward, President.
even at a low rate, the farmer and capitalist and
working man who had accumulated a little fund,
loaded up with a quarter of a section to two sec
tions of land. This does not indicate an alarming
state of affairs. Deposits in banks, while less than
in 1901, are still large and in the great mass of in
stances the investors in northwestern lands are able
to hold them and complete payments without embar
rassment. So great a volume of money, however,
went into the northwest that that now available as
a surplus is quite limited and commands an interest
rate that causes borrowers to groan.
A t a recent meeting of the directors and stock
holders of the Oskaloosa Savings Bank a number
of changes were made. The reoganization was
made necessary by the recent deaths of the founder
and cashier, J. W . Hammond, and vice president,
W . B. Hadley. B. C. Buxton remains president
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Federal Reserve Bank of St. Louis
of the bank and Dr. S. W . Clark was elected vicepresident. Marion J. Cruzen, who was for a num
ber of years associated with Mr. Hammond, but
who for the past four years has been assistant cash
ier of the Frankel State Bank, returns to the Sav
ings bank as a stockholder. W . H. Shaw, who re
signed last January, has returned as assistant cash
ier. R. R. McRae continues as assistant also.
The Princeton Savings Bank of Princeton, Scott
county, is incorporated with a capital stock of $100.000. The officers a re : Thomas J. W ilcox, Clinton,
president; A. H. Schmaltz, Princeton, first vicepresident, J. H. Shaff, Shaffton, second vice-presi
dent; B. S. McCully, Princeton, cashier. Directors :
G. . Lamb, Clinton; W . F. Shaffer, S. I. Porter,
D. F. Learner and P. N. T. Thompson, Princeton.
The bank had a capital of $25,000. The organizers
are Frank J. Macomber, John L. Woodward, W.
36
T H E N O R T H W E STE R N B A N K E R .
(
1
August, 1904.
“
'
BURROUGHS
A D D IN G M A C H IN E .
Adds and lists amounts with ten times the speed
of long hand, and the results are infallibly correct.
Over 17,000 now in use. Some of these were sold
ten years ago, and are giving perfect satisfaction
today.
It is used largely by Banks in balancing pass
books, totaling individual and general ledgers, listing checks, deposits and discounts, but it
has a hundred other uses.
—
-------- T H I R T Y
D AYS
FREE
T R IA L =
In order to demonstrate what this wonderful machine will save you in time, work, worry and
money, we will send one on thirty days free trial upon request.
A
m e r ic a n
A
r it h m o m e t e r
C
o m p a n y
,
St. Louis, Mo.
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J. Woodward, Anthony Morton and W. Theodore
W oodward.
Auditor Carroll has received an application for a
charter for the State Bank of Lewis, Cass county.
P. A. Boland, who has been cashier of the Le
Mars Savings Bank for some time past, recently
disposed of his interest in the bank to Fred Becker,
the president. The appointment of a cashier to suc
ceed Mr. Boland has not yet been arranged.
A notable change has been made in the officers
of the Peoples Trust and Savings Bank of Colfax,
Dr. Abner Fry having been elected as president of
the institution to succeed J .B. Johannsen (resign
ed) and F. M. Cagle was elected vice-president to
succeed H. E. Johannsen (resigned), both having
been elected members of the board of directors.
The Johannsens also resigned from the board
of directors. The new officers will doubtless render
able assistance to P. E. Johannsen, the cashier, in
conducting the bank.
Captain Henry C. Spepcer, cashier of the First
National Bank of Grinnell and his son, Clarke H.
Spencer, bookkeeper in the same bank, were drown
ed July 20 while out sailing a naptha launch on A r
bor lake. The father gave up his life trying to save
his son. Captain Spencer was born in Grinnell and
was about 50 years of age. For thirty years he had
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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BANK PLANS.
Send at once for our book containing
floor plans and views of forty-four mod
ern country B A N K B U ILDIN GS cost
ing $3,000 to $25,000; price$1.00. MOD.
E R N HOMES, 150 pages; price $1.00OM EYER <&THORI, A rchitects
Chamber of Commerce, St. Paul, Min
been connected with the National Bank of Grinned,
a large part of that time in the capacity of cashier.
For several years also he was treasurer of the Iowa
college at Grinned. His son, Clarke, was a gradu
ate from Iowa College in the class of 1900, and
since that time has ben employed in the bank in the
capacity of bookkeeper. The young man was about
25 years of age. He was employed in his father’s
bank. He was steady and attended strictly to busi
ness. He had no bad habits and was popular and
highly esteemed. His father was one of the most
highly esteemed men of the community. Therefore
the community feels a personal loss in the tragic
death of each of them.
Following the tragic death by drowning of H.
C. Spencer and his son, W. C. Spencer, both con
nected with the First National Bank of Grinned,
the following notice appears on the doors.
“ B y an order of the board of directors this bank
will be closed until the national bank examiner has
made an investigation of the bank’s affairs.”
August, 1904.
T H E N O R T H W E STE R N B A N K E R .
37
B A N K E R S ’ C A B IN E T A N D S U P P L Y CO
UP-TO-DATE SYSTEMS
Devised arid Installed Card Sys
tems for Every Conceivable
Purpose.
C A R D C A B I N E T S —All sizes, fither W ood or Steel.
W rite us fo r Estimates.
Banks, Trust C o m p a n i e s ,
Insurance, Water, Gas, Electric
Light, Telephone Companies,
Manufacturers, Jobbers, Lawyers,
Clergymen, Real Estate Agents.
Physicians, Lodges, Churches,
Societies.
M e ilin k ” or “ C h ic a g o ” D e s k T e le
p h o n e B r a c k e ts —Good and Ohtap.
V E R T I C A L F I L I N G . For quick reference to correspondence. File letter
and reply together. It saves time and temper. Fine for documents. Let us make an
estimate on complete system.
LOOSE LE A F
LEDGERS.
or two and get a poor outfit.
The best is the cheapest.
Ours is the BEST. Write us.
Don’ t try to save a dollar
S U P P L I E S . M oneychangers and Trays, Check Protectors, Rubber Bands, Number
ing Machines. Postal Scales, SWINGING TYPEW RITER STANDS to attach to Roll or
Flat Top Desk. A General Line of Supplies.
The best ADDING MACHINE made, on 30 DAYS FREE TRIA L. Electrical Attach
ment for operating when desired. Correspondence solicited.
BANKERS’ CABINET & SUPPLY CO.,
E q u i t a b l e B u ild in g :, D E S M O I N E S .
E X A M IN E R A R R IV E S .
The tragic death and reported discrepancies in
the First National bank accounts recalls a similar
situation, when Charles H. Spencer was killed
about ten years ago. There was then talk of a de
ficit or unsecured liabilities to the bank amounting
to about $20,000 What was then thought to be a
full settlement was made, but it is now claimed
that securities were substituted and carried along
as assets, and that H. C. Spencer regularly paid
the interest thereon.
The First National bank is capitalized at
$100,000; it has a reported surplus of $27,000 and
deposits aggregating about $300,000. Its officers
include the following men of prominence:
J. P. Lyman, president; David Vanderveer, vice
president; W. C. Spencer, cashier, and W. C.
Statt, assistant cashier. Its directorate was com
posed of J. Childs, C. F. Childs, H. K. Edson, W.
S. Hendrixson, J. P. Lyman, L. F. Parker, C. H.
Spencer, H. C. Spencer and D. Vanderveer, all of
whom were heavy stockholders in the bank. Onefourth of the stock was owned by the Spencers,
and H. C. Spencer has considerable property that
can be applied to the liquidation of any liability.
The other stockholders are able to meet any
shortage that may be disclosed and depositors will
be fully protected.
The case of the Omaha National Bank vs. the
Crystal Lake Bank of Iowa was dismissed on mo
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
tion of the plaintiff after all the evidence had been
submitted. The action gives the plaintiff the right
to open the case on some other grounds, if they
so desire in the future. It is the outgrowth of the
attempt of one T. S. Crenshaw, at one time a pros
perous business man in Council Bluffs, present
whereabouts unknown, to realize on the funds of
the Crystal Lake bank in an unwarranted manner.
Crenshaw opened negotiations for the purchase of
the Crystal Lake Bank, and on February 3, 1902,
a contract was made out and signed. On February
4 Crenshaw secured several blank certificates of de
posit, signed by the cashier of the Crystal Lake
Bank, on the ground that he would interest his
friends as depositors and return the certificates prop
erly filled in. He filled out one of these certificates
for $5,000 and gave it as collateral for a note of
that amount held by the Omaha National Bank. He
also made a secret trip to Sioux City, where he tried
to work the same game, but w-as unsuccessful. The
Omaha bank sued the Crystal Lake Bank for their
$5,000 on the ground that the Crystal Lake Bank
was responsible.
We present herewith a cut of the building of
Moulton State Savings Bank, at Moulton, Iowa.
This bank was organized February 25, 1902, and
has had a rapid growth from its start. It has a
capital of $30,000. As may be judged from its
TH E NORTHW ESTERN
38
*
BANKER.
August, 1904.
« h e
+
(Chase N a tio n a l B a n k ,
B S T Ä B L IS H E D 1853.
Che Oriental Bank
OF N E W
O F T IIE C IT Y O F N E W YO R K .
Y O R K
175 B ro a d w a y
Capital,
Surplus and profits,
$750,000.00
-
$1,075,963.82
R. W. JONES, Jr, Pres. NELSON G. AYRES, 1st Vice-Pres.
LU DW IG NISSEN, )
ERSKINE HEW ITT, } Vice-Presidents.
CHARLES J. DAY, )
GEO. W. AD a MS, Cashier.
R. B. ESTERBROOK, Asst. Cash.
D IR E C T O R S .
Nelson G Ayres, Vice-President.
Charles K. Beekman, Philbin, Beekman & Menken, Attorneys.
Samuel Bettle, Chairman A dvisory Freight Committee, In
ternational Mercantile Marine Steamship Co.
Eugene Britton, Vice-Pres. N at’l City Bank, B rooklyn; Treas.
Broadway Savings Institution, N. Y.
Stephen R. Halsey, Capitalist.
Erskine Hewitt, Manufacturer, with Cooper, Hewitt & Co.
R. W. Jones, J r ., President.
Hugh Kelly, Merchant, 71 W all Street.
Richard B. Kelly, Vice-Pres. Fifth National Bank.
Chas. E. Levy, Cotton Merchant, 30 Broad Street, o f M. Levy
& Sons, New Orleans, La.
Alexander McDonald, Capitalist.
W m. McCarroll, Vice-Pres. American Leather Co.
Ludwig Nissen, Im porter o f Diamonds.
Andrew W. Preston, Pres. United Fruit C o., Boston and N. Y.
John C. W hitney, A uditor New Y ork L ife Ins. Co.
Isadore Hermsheim, Capitalist.
William B Putney, Attorney-at-Law.
U N IT E D S T A T E S D E P O S IT A R Y ,
C L E A R IN G H OUSE B U IL D IN G .
A . B. H e p b t t b n , P re s.
E. J. S t a l k e r , C a sh ie r.
S. H. M i l l e r , A ss t. C ash ier.
H. K . T w i t c h e l l , A ss t. C a sh ier.
June 9,
I9 0 4 .
CAPITAL,
SURPLUS A M J PROFITS,
DEPOSITS,
■
Your Account is Respectfully Solicited.
♦
A . H. W i g g i n , Vice-Pres.
C. C. S l a d e , Asst. Cashier.
-
$
1,000,000
4,006,616
5 6 ,8 8 2 ,4 7 5
R E C E I V E A C C O U NT S OF
+
appearance the bank building is one of the best—
having all the modern conveniences and accommo
dations. It is 25 by 105 feet in size. The inside
furnishings are in keeping with the fine outside ap
pearance of the bank, having all the modern bank-
Banks, Bankers, Corporations, Firms and Individuals on favorable
terms and will be pleased to meet or correspond with those who con
template making changes or opening new accounts.
many of the leading business men and farmers of
the community, and bankers representing interests
aggregating two million dollars. Mat. S. Edwards
is president and R. B. Carson vice-president.
Home Seekers’ Excursions.
The Missouri Pacific Railway and Iron Mountain
Route will sell excursion tickets to points in Arkan
sas, Texas, Louisiana, Oklahoma, Indian Territory
and Kansas, at a rate of one fare plus $2.00 for
the round trip, good for stop-overs, tickets on sale
the first and third Tuesdays of each month.
The above lines reach the great Farm, Timber
and Mineral Products of the West and Southwest
without change. Free literature on application.
For rates and other information address,
F L U S F A R N S W O IT H , I). P. A.,
h i Adams St., Chicago, 111.— 12.
GENERAL N EW S NOTES.
M OULTON ST A TE
S A V IN G S B A N K .
ing conveniences including safety deposit boxes. The
deposits of this institution have more than doubled
within the last five months. Albert H. Corey, a
-Missouri banker, has recently assumed the manage^
ment and cashiership. This bank has behind it
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Oriental Bank recently declared a semi
annual dividend of 5 per cent.
The American Arithmometer Company, the man
ufacturers of the world-famous Burroughs Adding
Machines, recently made one shipment of 100 ma
chines to J. B. Brugler, their state agent for Wis-
T H E N O R T H W E STE R N B A N K E R .
August, 1904
39
4 0 0 S y s t e m s I n s t a lle d in
T w o Y ears
HE full protection of any bank from burglary is what our system is
built for—Is always ready for business. None but the best materials
used in its construction. Double plates of insulated steel line every inch
of the protected vault, six large gongs sound the alarm in case of attack.
Electricity, with modern methods of application, makes the system imper
vious to the attack of Burglar or Electrician. Guaranteed in writing that
it cannot be defeated. 4 0 0 Banks equipped in two years—only one
system attacked—one gang of burglars defeated—$6,000 saved—no loss.
THIS SYSTEM IS NO TOY, the average shipment weighs 2,000 pounds.
There is no bank doing business but needs the absolute protection a f
forded only by this system. *
T
W r ite for B ooK let.
Am erican BanK Protection Co.,
Minneapolis, Minn.
consin. These machines are now considered indis
pensable to every well-regulated bank.
The dates selected for the convention of the
American Bankers’ Association in New York are
Sept. 14, 15 and 16.
'fhe Citizens’ Central National Bank has declared
a dividend of i /
l 2 per cent from the earnings since
the consolidation, March 14.
The Seaboard National Bank has declared a regu
lar semi-annual dividend of 3 per cent out of the
earnings of the past six months.
Announcement was made some weeks ago of the
resignation of Hon. Bradford Rhodes from the
presidency of the Twenty-fourth Street National
Bank of New Y ork City. Mr. Rhodes organized
this institution about a year ago and has succeeded
in the short time of its existence in placing it upon
a very substantial footing and getting the founda
tion well laid for a prosperous business. He had an
opportunity to close out a large bulk of his stock at
an attractive figure and decided to sell and resign
the active management of the bank. However, he
still remains as one of the directors. Mr. Rhodes
is known from one end of the country to the other
among the banking fraternity as the founder of
Rhodes’ Journal of Banking, which journal he built
up into the most successful and authoritative bank
publication in America. Years ago he bought out
the Bankers Magazine and consolidated the two
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
magazines under the name of the latter.
Mr.
Rhodes has also had a great deal of experience as a
practical banker, having organized a national bank
and savings bank many years ago, of both of which
institutions he has been president ever since the or
ganization. Nearly two years ago he retired from
active management of the Bankers’ Magazine and
Bradford Rhodes & Co.’s bank publications in order to give bis entire time to his increasing bank
duties. He will probably become connected with
some down-town New York bank and we under
stand be has already had an offer of an official posi
tion in one of the large banks of New York. Mr.
Rhodes is still a young man and is extensively ac
quainted over the country.
His experience will
make him much too valuable a banker to be long
out of the harness.
Mr. Dooley’s Return.
Mr. Dooley’s thousands of readers and admirers
will be glad to learn of his return. His delightful
and inimitable letters upon topics of the times,
which have now gained for him a world-wide fame,
will begin in the Sunday Record-Herald of July 10
and will appear every Sunday thereafter.
There is but one Dooley. A Chicago product,
his quaint and humorous philosophy is now know
wherever the English language is spoken. The com
ing presidential campaign and other current events
will afford a wealth of material for his pen.
*
43
THE NORTHWESTERN BAN KER.
August, 1904.
That is Our Business!
Designers and Manufacturers of HIGH-GRADE
Bank, Office and Commercial Furniture
Our 20th Century Bank and Office Fixture
Catalogue No. 80, our Chair Catalogue No.
58, our Desk Catalogue No. 58, sent on re
ceipt o f 25c. It may pay you to send for it.
M. WINTER LUMBER COMPANY,
Established 1865.
“ W in te r ” Made I t : —That Signifies I t ’s R igh t
--------------t h e :--------------
Preferred Accident
Insurance Company
p A Y S Claims More Promptly. Issues More At
tractive Health and Accident Policies at a Lower
Premium than any other Accident Insurance Com
pany in the World.
Over $5 ,000,000 Paid
Assets, $i,i52,229.$i. «*•
ISSUES
OE
N EW
YORK
KIM BALL C. ATWOOD,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SHEBOYGAN, WIS., U. S. A.
M. Winter Lum ber Co. , Sheboygan, W is. :
G e n t l e m e n , —Enclosed you will please f i n d
check in payment of enclosed bill which please
receipt and return.
I n regard to our bank fixtu res, we are more
than pleased with them as they are rea lly better
than we expected and fitted together perfectly.
Heartly thanking you for yoai manifest interest
to please us, I remain,
R espectfully yours,
F. A. E y c h a n e r , Pres.
Monroe Center, 111.
toPolicyholders for Claims
S u rp lu s
PREFERRED
and Resem,
RISKS
S i , coi,809.66
OM A
Liberal Commissions and Renewal Contracts to Bankers
W rite for our Special Proposition to Bankers
Secretary
UPHAM BROS., Mgrs. for Iowa, “ “ «
r
'
S T. PAUL FU RNITURE CO.
D e s i g n e r s an d M a n u f a c t u r e r s
B a n k F ix tu r e s
a n d F u r n itu r e
Complete
Equipment ^
£?
High-Grade Cabinet Work:
C a t a l o g u e M a il e d
S T . P Ä L JL , M INN
August, 1904.
41
TH E NORTHWESTERN BANKER.
T h e o ffic e rs o f T H E I O W A N A T I O N A L B A N K o f D a v e n p o r t , Io w a ,
in v it e c o r r e s p o n d e n c e re la t iv e t o an y d e p a r t m e n t o f B a n k i n g . T h e y o ffe r
t h e s e r v ic e o f a w e l l e q u i p p e d a n d s u c c e s s f u ll y m a n a g e d b a n k o n t h e
m o s t lib e ra l t e r m s , c o n s i s t e n t w i t h a s a f e a n d m u t u a l l y p r o f it a b le b u s i
ness.
A. P. D O E, President. JO HN D. B R O C K M A N , Vice President.
J. E. B U R M E IS T E R , Cashier.
The New Burlington, Iowa Bank.
The new Burlington Savings bank with a cap
ital of $100,000 was opened for business July 25
under most favorable auspices. The president, H.
D. Copeland, has been a prominent citizen of Char
iton, for many years, where he was engaged in
banking and in the mortgage and loan business.
He is also a large real estate owner. For some
years he served as one of the State bank examiner,
and in consequence enjoys a wide acquaintance
with the moneyed men of Iowa. Mr. Copeland is
an able man and an experienced and conservative
fiancier.
George C. Swiler is the cashier of the new bank.
For eight years past he was connected with the
Drovers Deposit National bank, of Chicago. When
he tendered his resignation a short time since, in
order to accept his present position, he was paying
teller of the Drovers Deposit National. Mr. Swiler
is a young man of decided financial ability, and he
has been carefully tutored for eight years by the
practical men at the head of one of the strongest
and best banks in Chicago.
Special Summer Tourist Rates to Kentucky, Tennessee
North Carolina and Virginia.
The Chicago Great Western Railway will sell
special round-trip tickets at very low rates to Crab
Orchard, Ivy., Middleborough, Ky., Tate Springs,
Tenn.. Olive Springs, Tenn., Asheville, N. C., Hot
Springs, N. C., Roanoke, Va., Glade Springs, Va.,
Radford, Va., and other points. Tickets on sale
daily, good to return until October 31. For further
information apply to E. J. Sawyer, City Ticket
Agent, 514 Walnut St., Des Moines, Iowa.
Special Summer Tourist Rates to St. Paul and
Minneapolis via Chicago Great Western Railway
One fare plus 50c for the round trip. Tickets on
sale August 6th to n th , inclusive. Good return
in g until August 25th. For further information
apply to E. J. Sawyer, City Ticket Agent, 514 W al
nut St., Des Moines, Iowa.
Special Tourist Rates to Points in Canada
The Chicago, Great Western Railway will sell round
trip tickets at one fare plus $2 to points in Canada.
Tickets on sale up to September 30 th, good returning to
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Federal Reserve Bank of St. Louis
LOANS—REAL ESTATE
A NY one making Loans or
Dealing in Real Estate in
Iowa can not afford to be without
A Cony
of
Our
New 10WA ST A TE ATLAS
Elaborate P rospectus and S a m
p l e M aps sent free upon request
IO W A
P U B L IS H IN G
COM PANY
DAVENPORT, IOWA
October 3 1 st. For further information apply to E. J.
SA W Y E R , City Ticket Agent, 5 1 4 Walnut Street, Des
Moines, Iowa.
10
Biennial Excursion Knights of Pythias, Louisville,
Ky., August 16-29
The Chicago Great Western Railway will on A u
gust 12th to 15th, inclusive, sell tickets to Louisville
at very low rates for the round trip. Good to re
turn until August 31st. For full information apply
to E. J. Sawyer, City Ticket Agent, 514 Walnut
St., Des Moines, Iowa.
Harvest Hand Rates to Minnesota and North Dakota.
The Chicago Great Western Railway will sell
tickets every day in August at very low rates to
points in Minnesota and North Dakota to parties of
five or more traveling on one ticket. Special low
rates for the return trip.
For further information
apply to E. J. Sawyer, City Ticket Agent, 514 W al
nut Street, Des Moines, Iowa.
National Encampment G. A R. Boston, Mass.
August 15-20.
The Chicago Great Western Railway will on A u
gust 11th to 13th sell round trip tickets to Boston
at very low rates. It will pay you to write or en
quire for full information of E. J. Sawyer, City
Ticket Agent, 514 Walnut St., Des Moines, Iowa.
42
TH E N ORTH W ESTERN BAN KER.
W. E. COFFIN, President Iowa Loan & Trust Co., Des Moines, Iowa.
J. G. ROUNDS, President Citizens National Bank, Des Moines, Iowa.
A. U . QUINT, Manager, Des Moines, Iowa.
B. P. SCOTT, Cashier Citizens National Bank. New Philadelphia, O.
W M. A. GRAHAM, Cashier Citizens Bank, Sidney, Ohio,
F. M. RU DD, Cashier L. Rudd & Sons Bank, Bronson, Michigan.
M • D ; W AGNER, President Huron County Bank, Harbor Beach, Michigan.
JNO. W . FAXON, Ass’t Cashier First National Bank, Chattanooga, Tenn.
August, 1904.
C. F. SMITH, Cashier First National Bank, McGregor, Texas.
A tP
P
5 ’ Cashier Ainsworth Savings Bank, Ainsworth, Iowa.
S. fp BURNHAM, President First National Bank, Lincoln, Nebraska.
F. ELM ORE, Bank of Winchester, Kansas.
!• P, GERLACH, Cashier First National Bank. Chester, Illinois,
p- v ,1 w P iA E R , Cashier American National Bank, Macon, Ga.
President First National Bank, Jackson, Minn.
WM. W ARNOCK, Banker, Almyr, Ontario, Canada.
INSURES the safe delivery of money and securities shipped by registered mail. Absolute security at actual cost.
j ^ s p o ^ ^ c ^ ’solicitedr
^ exPreas
Organized and conducted by bankers
Confines its business to banks. Cor-
IHI;
BANKURS
EXCHANGE.
[Reading locals in this column will be printed at a cost of
or first insertion: 2 5 c. a line for subsequent insertions.]
50 c.
W anted — Cashier with 3,000 to $4,000 to invest in
a line
N otice— Replies to want ads that are sent in
care of the Northwestern Banker should each be
accompanied by a stamp to pay forwarding postage.
W anted . — Position by young
man in a bank.
Have had some experience. W ill furnish refer
ences. Address Box n . Hawthorne, Iowa.
W anted — Forty to fifty small size safety deposit
boxes. Address, Holstein Savings Bank, H ol
stein, Iowa.
F or S a l e — A solid walnut bank counter nineteen
and one-half feet long. For particulars address
“ W. S. B.” care N o r t h w e s t e r n B a n k e r .
F or S ale — Good set of oak bank fixtures in
banking room 22 feet wide by 50 feet deep. A d
dress, O. S. B., Northwestern Banker, Des Moines.*
F or S ale — A village bank, located in Southwest
ern Nebraska on B. & M. R. R. ; good territory
and opportunity for profitable business with small
capital. Address, H. S., care Northwestern Banker.
W A N T E D 1.— Position in bank by young man.
Have had two years’ experience in a national
and two years’ training in a county auditor’s
office. Best references furnished. Address “ B. E.
S.,” care of this journal.
W A N T E D .— Young man with four years’ experi
ence wants position. Best of references. A d
dress “ A. J. E .” this journal.
F or S ale — Controlling interest in good paying
country bank in South Dakota. W ill take $30,000
to handle it. Address M. B. B., care Northwestern
Banker.
• t
>-
W anted — Party desiring to purchase small South
Dakota bank, established one year in good stock
country, address “ G. F .,” care this journal.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
good paying bank in the state of South Dakota;
party who can speak German and understands mak
ing cattle loans preferred. Address, “ H. G. B .,”
care of this journal.
W anted .— Position in bank; have had 15 years’
experience in banking, farm loan, real estate and
insurance business. Speak German. Address “ E ”
care this journal.
W A N T E D — Young man of some experience
position of cashier in bank, southeastern South
growing town, excellent territory; must speak
and take some stock. Address “ Cashier,” care
western Banker.
to take
Dakota,
German
North
P O S IT IO N W A N T E D —A competent young man of
good character, desiring to enter the banking business,
wants position in a country bank where an opportunity
will be afforded to learn the business. Salary no object.
Best of references furnished. Address Lock Box 38.
Farnbamville, Iowa.
W anted .— A cashier and manager for a private
bank in a thriving country town in Central Iowa.
Old established and prosperous business. Must be
a young man with some capital to invest and with
banking experience. An excellent opportunity for
the right sort of a man. Address J. M. Woodworth, Perry, Iowa.
C ampaign
B uttons .— W e have the regulation
Campaign Buttons, best quality, lowest prices.
Sample, 10 cents. Our Antiseptic Corn File re
moves corns and callouses, no cutting or drawing
blood. Sample, 15 cents. Dudley Specialty Com
pany, 1715 Seventh Street, Des Moines, Iowa.
Wanted .— Position in country bank by young
man with a knowledge of stenography and three
years’ experience and at present employed in city
bank. Address “ L. A. S .,” care Northwestern
Banker.
Wanted .— Position as cashier or assistant by
young man of experience and good habits. Can
furnish best of references and take stock. A d
dress “ X. Y ., ” care Northwestern Banker.
August, 1904.
THE NORTHWESTERN BANKER.
43
The Spring Season at
Eureka Springs, Ark ,
Is the most delightful o f all the year.
It is reached in one night from St. Louis,
via Frisco System.
V is it o r s to th e W o r l d ’ s F a ir should not fail to make
the trip.
The entire country about Eureka Springs abound , in the
beauties o f nature. Towering m ountains; huge rugged cliffs;
gushing sp rin gs; rocks o f all sorts o f strange and curious
construction; caves o f the most singular and interesting
form ations. The variety and charm o f the im posing land
scape never fails to enrapture visitors. Its altitude is clear,
d ry weather, egreeable temperature, pure air and pure
water, appeal strongly to the man who has just gone through
serious siege o f illness and it is w onderful how rapidly one
builds up at this place.
Troubles o f the stomach, liver,
kidneys, bladder, Rheumatism, cataarh, asthma, malaria,
nervous diseases, skin diseases, drug and liquor habits, and
many others are invariably benefited and most cases posi
tively cured.
The hotel service is excellent and the rates moderate.
V ery low rates in effect all the year round.
W rite for free copy o f our pamphlet entitled, “ The
Summit o f the Ozarks.”
Address,
(^NTRAL llFE
Aw*/wS/OU
BANCE5OClIvTY
F THE- UNITED -STATER.
GEO. B. PEAK.
F R C 5 IDCNT
H.G.EVERETT.
SECRETAR Y
Home Office. Des Moines. Iowa.
■--------------------- —
—
------------ ------
The leading Western Company. The Best Company for
Agents Because the Best for Policy Holders.
LIB E R A L C O N T R A C T S .
Y O U R IN Q U 1 R Y W I L I . RIvCfvIVB
C E IV B )
P R O M P T A T T E N T IO N .
'
f a
W
PASSENGER TRAFFIC DEPARTMENT,
S a i n t L o u is .
Practical Banking.
Locations for Business.
“ The Methods and Machinery of Practical Banking,” by
Claudius B. Patten, for many years cashier of the State
National Bank of Boston. The seventh edition of this
remarkable book is now on sale, and the most prominent
bankers of the country say this is the best book publish
ed on practical, every-day banking, and that it ought to
be in the hands of everybody learning or desiring to be
more proficient in the banking business. Many of the
larger banks have given each of their clerks a copy. As
high as thirty copies have been bought by one bank for
this purpose, and many others have purchased from fifteen
to twenty copies. It is not a book of theories of what
the banking business ought to be, but what it is under
present conditions. Bank officers of many years’ exper
ience commend it, as well as those just learning the bank
ing business. It is an excellent work, and one that should
be read by every banker, whether he has had years of ex
perience or is simply commencing. We will take pleasure
in having the book forwarded to those desiring it on re
ceipt of $5.00, the publisher’s price.—The Northwestern
Banker, Des Moines, Iowa.
If you are seeking a location for any mercantile
business, for the practice of a profession, or for the
manufacture of any article, first communicate with
the undersigned, who will inform you in regard to
opportunities on the line of the Chicago Great W est
ern Railway Co., the most progressive railway
traversing the most fertile section of the United
States. Maps and Maple Leaflets mailed and more
specific information given as requested.
W . T.
R E A D , Industrial Agent, 604 Endicott Bldg., St.
Paul, Minn.
INTEREST TABLES FOR BANKS.
We have received a copy o f the Baker-Vawter Interest
Tables for Banks. The tables compiled by this firm are
conveniently arranged and absolutely reliable.
They
show at a glance the interest on amounts from $1 to
$10,000—one day to five years—2 per cent up. There are
60,000 computations whose accuracy is vouched or.
Bound in cloth, 128 pages, sells regularly fo r $1.50, but
the publishers have made a special price to banks of
75 cents. The Baker-Vawter Company, Chicago, or Atch
ison, Kan.
The Minneapolis & St. Louis has placed on sale daily
round trip summer tourist tickets to St. Paul, Minne
apolis, Duluth and other Northern Minnesota summer
resorts; Denver, Colorado Springs, Salt Lake City, Ogden,
etc., at extremely low rates. Limit for return to October
31 st. Call on agents for particulars or address A. B.
CUTTS, G. P. & T. A., Minneapolis, Minn.
9
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A Marvelous Service.
Going east by the New York Central Lines, you
have the choice of 8 trains a day from Chicago, 3
trains a day from St. Louis, and 5 trains a day from
Cincinnati.
You wil remember that this is the line via N iag
ara Falls, and the route of the “ East Mail,” “ Lake
Shore Limited,” “ Twentieth Century Limited,”
and the “ Knickerbocker Special.”
First and Third Tuesday in Each Month.
The Chicago Great Western Railway will sell
Homeseekers’ Tickets at one fare plus $2.00 to
points in Alabama, Arkansas, Colorado, Florida,
Georgia, Kansas, Kentucky, Louisiana, Mexico,
Mississippi, Missouri, Nebraska, New Mexico,
North Carolina, Oklahoma, Tennessee, Texas,
Utah, Virginia and Wyoming. For further infor
mation apply to E. J. Sawyer, City Ticket Agent,
514 Walnut street, Des Moines, Iowa.
THE NORTHWESTERN BANKER.
44
August, 1904.
A Most Enjoyable Trip to the East
To Minneapolis and St. Paul
Is experienced by passengers on the Manhattan Lim
ited, leaving Chicago daily at 1 o ’clock p. m., over
Pennsylvania Short Lines for New York. The menu
of the dining car is faultless; the library smoking
car is a cushioned retreat, with club-room comforts;
sleeping cars with private compartments; observation
car for viewing scenery. Further information given
by Geo. Jenkins, T. P. Agt., Des Moines, la., upon
application.
The direct line between Des Moines and St. Paul
is the Minneapolis & St. Louis Railroad. Leave
Des Moines at 7:55 a. m. and 9 p. m., arrive Min
neapolis 7 :oo p. m. and 7125 a. m .; St. Paul at
7 :40 p. m. and 8 a. m. “ The Minneapolis and St.
Paul Limited” has through Vestibuled, Gas-Light
ed Pullman Sleepers and First-Class Coaches. Call
on GEO. R. K L IN E , City Ticket Agent.
Go South.
Two Through Tourist Cars to California.
Farm values are cheap; manufacturing oppor
tunities unprecedented. W rite John M. Beall, A s
sistant General Passenger Agent, Mobile and Ohio
Railroad, St. Louis, Mo., and he will put you in
touch.
10
Every week via the Chicago Great Western Rail
way. Choice of routes west of Kansas City via
Santa Fe Route or Rock Island El Paso Route.
Low rates and every comfort afforded.
For fur
ther information apply to E. J. S A W Y E R , City
Ticket Agent, 514 Walnut St., Des Moines, Iowa.
Cheap Round Trip Rates via Chicago Great Western R y.
Every day this summer to September 30, the Chi
cago Graet Western Railway will sell tickets to St.
Paul, Minneapolis, Duluth, Superior, Ashland, Bayfield, Denver, Colorado Springs, Pueblo and Salt
Lake at about one-half the usual rates. Good to re
turn until October 31. If you are contemplating a
trip apply for complete information. E. J. Sawyer,
City Ticket Agent, 514 Walnut St., Des Moines,
Iowa.— 9.
Visit the National Capital on New Y ork Ticket
Without extra fare via Pennsylvania Short Lines. In
addition to the advantage of traveling over matchless
road-bed in solid vestibuled trains, passengers may
make a side trip on Philadelphia and New York tick
ets, visiting Washington and Baltimore, without
paying additional fare. Confer with Geo. Jenkins,
T. P. Agt., Des Moines, la., about this convenience.
The W orld’s First Limited Train
Was operated by the Pennsylvania Railway system,
which from time to time introduced new features,
attaining the perfection in travel seen today in the
Pennsylvania Limited, the finest train in the world.
It leaves Chicago Union Station daily at 6 o ’clock p.
m. on the twenty-three-hour run to New York. Geo.
Jenkins, T. P. Agt., Des Moines, la., has interesting
information regarding the Pennsylvania Limited and
its route, which will be furnished upon application.
Special Summer Tourist Rates to Eastern Points
The Chicago Great Western Railway will sell round
trip summer tourist tickets at very low rates to Chautau
qua Lake, N. Y., Cleveland, Niagara Falls, Put-in-Bay, O.,
Cambridge Springs, Pa., Thousand Isle Park, N. Y., and
other eastern points. Tickets limited to October 31 st.
For further information apply to E. J. S A W Y E R , City
Ticket Agent, 514 Walnut St., Des Moines, Iowa.
10
World’s Fair Visitors.
The pavilion erected by the Frisco-Rock Island
Systems at Main Entrance of the W orld’s Fair is
surely a place of no little interest, in fact, it is one
of the many attractions.
Visitors to the W orld’s Fair are cordially invit
ed to inspect the Frisco-Rock Island System build
ing. Here will be found a place of rest, courteous
attention, besides, there will be distributed, free of
cost, souvenirs and descriptive literature of the
Great Southwest. The reader will, undoubtedly,
overlook a very important attraction in case of fail
ure to visit the Frisco-Rock Island System pavilion.
Remember, Main Entrance W orld’s Fair.
Short Line to the Twin Cities
‘‘Straight as the crow flies” is the route of the
Minneapolis & St. Louis Railroad from Des Moines
to the Twin Cities. Tw o trains daily each way.
Shortest time and everything of the best. Call on
Geo. R. Kline, City Ticket Agent.
Homeseekers’ Excursions.
The Chicago Great Western Railway will on the
first and third Tuesday up to October 18 sell tickets
to points in Alberta, Arizona, Assiniboia, Canadian
Northwest, Colorado, Indian Territory, Iowa, Kan
sas, Minnesota, Missouri, Nebraska, New Mexico,
North Dakota, Oklahoma, Saskatchawan, Texas,
Utah and Wyoming. For further information apply
to E, J. Sawyer, City Ticket Agent, 514 Walnut
street, Des Moines, Iowa.
11
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Special Round Trip Rates via Chicago Great Western
Railway.
Commencing June 28 and continuing thereafter
each Tuesday during July and August, 1904, the
Chicago Great Western Railway will sell roundtrip tickets at very low rates to Banff Hot Springs,
Alb., Laggan, Alb., and Field, B. C. For further
information apply to E. J. Sawyer, City Ticket
Agent, 514 Walnut St., Des Moines, Iowa.
August, 1904.
TH E NORTHWESTERN BANKER.
A Trip Through
Yellowstone Park. . . .
is what everyone hopes to have—s o m e d a y « It is the most
wonderful trip in the world. There are more than 3,000 square
miles of weird, marvelous, unimaginable things that can be
seen nowhere else, therefore if one ever sees them one must
go to the Park, in the heart of the magnificent Rockies with
snow tipped peaks all around. If Old Faithful geyser, a
Paint Pot, Mud Volcano, or Emerald Pool were to be found
in Lincoln Park, Chicago; Central Park, New York, or Fairmount Park, Philadelphia: the people would flock to see it or
them by tens of thousands. For a very small sum, compara
tively, all these and hundreds more of nature’ s unduplicated
marvels can be seen between June 1 and September 30 of
each year, and one will enjoy, to boot, the best coaching trip
in the country.
The N o r t h e r n P a c if ic folder on Yellowstone Park,
just issued, is a new, right up-to-date, finely illustrated dessertation on this Yellowstone Park trip. It is not descriptive,
but deals with the detailed, technical matters everyone needs
to know about such a trip. It tells all about the hotels, the
stage coaches, the roads, the cost of the tour; where the
geysers, the waterfalls, the bears, the canyons are, and where
the trout fishing is found. We have printed thousands of this
beautiful leaflet and want everybody interested to have a
copy, and it can be obtained by sending A . M. Cleland,
General Passenger Agent, St. Paul, Minn., t w o C © n t S
with proper address.
“ W o n d e r l a n d 1 9 0 4 ” which is a very fine pam
phlet of 116 pages, descriptive of the Northwest, including
the Park, will be sent for six c e n t s .
_______________
45
W H IC H ?
S A N F R A N C IS C O
or B O S T O N
SAIN
FRANCISCO
and return from
DBS
MOINES
S6I.00
going one way via
CANADIAN PACIFIC RAILW AY
through the world-famous Canadian Rockies with their
600 miles of
STUPENDOUS MOUNTAIN P EA KS,
A W E INSPIRING CANONS
AXII VIII'.I ITY CATARACTS.
Tickets good to go August 15th to September 10th
BOSTON
and return from
DES
MOINES
through Canada via the
CANADIAN
PACIFIC
RAILW AY
giving an opportunity to travel through
THE THOUSAND ISLANDS,
RAPIDS OH THE ST. L A W R E N C E ,
TORONTO, THE QUEEN CITV,
O T T A W A , THE CAPITAL, _
MONTREAL, THE METROPOLIS,
m IRRRC. THI'. ANCIENT.
Tickets good, to go Aug. 12th, 18th and 14th—Proportionate rates
from all other points. All Agents can sell tickets by these routes. For
f arther inform ation and illustrated literature, w rite :
A . C . S H A W , Gen’ l A gt., Chicago.
From the G R E A T LAK ES,
SUMMER
JOURNEYS
T W I N CITIES and
PO IN TS SO U TH
T O THE
It is time to plan your summer trip. Lakes
Okoboji, Spirit Lake and Clear Lake, in
Iowa; a thousand lake resorts in Wisconsin,
Minnesota and Michigan; the Rocky Moun
tain retreat in Colorado; are best reached
via the
GHicaoo, Milwaukee & S i Paul
Railway.
Before planning your vacation it is worth
your while to send for these books: ‘ ‘ Lakes
Okoboji and Spirit Lake,’ ’ four cents;
“ Summer Homes-1904’ ’ four cents; ‘ ‘ Lake
L ore,’ ’ by Forrest Crissey, six cents; ‘ Colorado-California,’ ’ six cents. They will
help you. Additional information from
any agent of the Chicago, Milwaukee &
St. Paul Railway, or from
WORLD’S FAIR-ST. LOUIS
THE MOST DIRECT ROUTE IS VIA
Double daily service through to St.
Louis. Pullman Buffet S'eepers and
P'ree
Reclining Chair Cars.
All
trains pass in full view of World’s
Fair
Buildings, stopping atMain
Entrance to Grounds.
Watch this space for low rates next month,
or address
A .
F. a. MILLER,
G eneral P a ss e n g e r Agent,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
B .
G L
© H ie a G © .
Gen. P a ss.
Ticket Agt.
T T S ,
Minneapolis
46
THE NORTHW ESTERN BANKER.
August 1904.
S P E C IA L LIST O F IO W A B A N K S .
A L P H A B E T IC A L L Y A R R A N G E D BY T O W N S .
Showing Name o f Bank, Town and County, Capital, Surplus and Undivided Pro-fits, Names o f Officers and
Special Facilities fo r the Transaction o f Business intrusted to their care.
ALGONA.
( First National Bank.
MONTICELLO,
( The Monticello State Bank.
Capital, *50.000.00.
„
.
) Surplus 110,000.00.
KoSSUth C o u n t y ............. ( Ambrose A. Call, President.
I D. H. Hutchins, Vice-President.
Oldest National Bank in
I Wm. K. Ferguson, Cashier.
Kossuth County.
I C. A. Palmer, Assistant Cashier.
Prompt attention paid to all business entrusted to us.
Capital, *100,000.
/
Surplus, *100,000.
Jones County ................ \ S. S. Farwell, President.
Frank M. Hicks, Vice-President.
H. M. Carpenter,Cashier.
H. S. Richardson, Assistant Cashier.
Money to loan on Iowa farm lauds.
CASEY,
MARENGO,
Farmers Bank.
Established, 1886.
..............; Abram Rutt, President and Owner.
j S. Lincoln Rutt, Cashier.
( Individual Responsibility of over *100,000.
r,
.
/Marengo Savings Bank.
I
,
Guthrie County
Real Estate Loans.
t ___„
Collections reoeive prompt attention.
CASTANA,
The Castana Sayings Bank.
Capital, *50,000.
Surplus $12,500. Undivided Profits, *1,500
W. T. Dav„ President.
S. D. Willits, Vice-President.
. C. T. Hansen,Cashier.
General banking business. Negotiators of choice Iowa farm loans.
Monona County
First National Bank.
CHARITON,
Capital, *50,000,
Surplus and Undivided Profits, *54,000.
S. H. Mallory, President.
Joseph Braden, Vice-President.
F. R. Crocker Cashier.
Lucas County
Banking in all its branches.
CLINTON,
/Peoples Trust and Sayings Bank.
Capital, $50,000.
Iowa County...................
( T SC.
o rpEngelbert,
wus’ *il?’°?0'r>
J
\J.
President.,
IJ. M.
I A. M.
'L . E.
Conduct a general banking business.
MARSHALLTOWN.
Mathew, Vice-President.
Henderson, Cashier.
Brown, Assistant Cashier.
Prompt attention given to collections
(Marshalltown State Bank.
Capital, $100,000.
Marshall County.........../ Surplus and Profits, 150,000.
\A. F. Balch, President.
¡Geo. A. Turner, Vice-President
IP. 3. Balch, Cashier.
VC. C. Trine, Ass’t Cashier,
Prompt and careful attention given all business entrusted our care.
1'M t. Ayr Bank.
MT. A Y R ,
Responsibility *150,000.
\ Geo.
S. Allyn, Cashier.
Ringgold County . . . .
!
i,Jno. H. Allyn, Assistant Cashier.
General Banking business transacted. Farm loans, real estate and abstract
i'First National Bank.
NEWTON,
J
Capital, *300,000.
Surplus and undivided profits, *140,000.
Clinton County
G. E. Lamb, President.
Charles F. Alden, Vice-President.
C. B Mills, Cashier.
\W. W. Cook, Assistant Cashier.
Accounts of banks and bankers a specialty.
Capital, *65,000.
Surplus and Undivided Profits, *43,000.
Chester Sloanaker President
J. H Lydey, Vice-President.
kE. E. Lyday, Cashier.
Lee E. Brown, Assistant Cashier
General banking business transacted. Collections receive special attention
DAYEN PO RT,'
NEW HAMPTON,
/F irst National Bank.
Capital, *200,000.
I Surplus and Undivided Profits, *110,187.
SCOtt C o u n t y ..................1 A. Burdick, President.
I Joe R. Lane. Vice-President.
General banking business
I John P. Van Patten, Vice-President,
transacted.
'George Hoehn, Cashier.
The first National Bank in operation in the United States oommenoed
business June 28, 1803.
DECORAH,
Winneshiek County..
Winneshiek State Bank.
Capital, *100,000.
1C J. Weiser, President.
' E. W. D. Holway, Cashier,
H. B. Hustvedt, Assistant Cashier.
The most careful attention given collections.
FOREST CITY,
/Forest City National Bank.
*50.000.
Winnebago County.. • 1I Capital,
Surplus, *15,000.
---
~■
I C. J. Thompson, President,
\
[G.c S. Gilbertson, Ce-hier.
General banking business transacted.
HUMBOLDT,
Humboldt County.
The Peoples Bank.
Capital, $100,000.
Surplus, $25,000.00.
G. L. Tremain, President.
W. W. Sterns, Cashier,
All business given good attention.
Jasper County.............(
/ Iir s t National Bank.
Capital, $50,000.
j
Surplus,*10,000.
< A. E. Bigelow, President.
| J. W. Sandusky, Vice-President.
Tim. Donovan, Cashier.
1 Grant M. Bigelow, Ass’ t Cashier.
Chickasaw County.
a ctecf^ National Bank in the County. A geueral banking business trans
ONAWA,
1Í Holbrook & Bro.
Monona County ................. ( Established 1858.
P. K. Holbrook, Cashier.
I
General Banking Business transacted.
We make a specialty of promptness in furnishing abstracts. Farm morgages for sale.
/Oskaloosa National Bank.
OSKALOOSA,
Capital, *50.000.
I Surplus
and Undivided Profits, *85,000.
Mahaska County-------
W. H. Kalbach, President.
H. L. Spencer, Vice-President
C. E. Lofland, Cashier.
A general banking business transacted.
POCAHONTAS,
Pocahontas County
Collections a specialty.
...I
Will D. McEwen, President.
I
H. C. Doyle, Cashier,
i.
Banking and Real Estate.
General banking business transacted.
/Lyon County National Bank.
ROCK R AP ID S,
irFn«ATTnTT*
KLOSAUQUA,
/Keosauqua State Bank.
capital, *27.800.
/ Undivided Profits, *4,700.
Yan Buren County. .. . \H. H. Trimble, President.
|J. N. Norton, V ice President.
(J. L. Therme, Cashier,
Elections a special feature.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
City Exchange Bank.
I Mill e r & T hom pson.
T vnn rA iin tv
)
Lyon county................... (
(°- p - Miller, J. K. P. Thompson.)
cap ital, *75,000.
A. Cox, Cashier.
iF . B. Parker, Assistant Cashier.
I M.
If you want some choice farm loans drawing 5 percent, interest, write
us for descriptions of same,
August, 1904.
TH E NORTHWESTERN BANKER.
S P E C I A L L I S T O P I O W A B A X K S —C o n t in u e d .
SAC CITY,
Capital, *30,000.
Deposits and Profits, *140,000.
i Established 1879. Incorporated 1890
I C. D. Griffith, President.
\M. E. Titus, Cashier.
We can furnish first mortgage farm loans running five years, interest FIVE
___________ per cent. Iowa and W isconsin investors write us.
J
Capital, *50,000.
_
~
,
I Su rplus and Profits, *25,000.
Sac Conntf..................... ( D. E. Hallett, President.
I E. Criss, Vice-President.
I H. H. Allison, Cashier.
\ H. S. Barnt, Assistant Cashier.
Transacts a eenerai banking business.
REDWOOD FALLS,
1The Citizens State Bank.
_
* Capital paid up, *50,000. Surplus, 112,000.
I Andrew R. Smith, Vice-President.
' Ackley Hubbard, Cashier.
All business entrusted to our care carefully and promptly transacted.
\ J. H. McDonald, President.
VH. H. MoDonald, Cashier.
Special facilities for collections.
( First National Bank.
Capital, *50,000.
Surplus, *50,000.
J. L. Bracken, President.
L, Williamson,
Cashier.
(T.
The
First National
Bank.
D. E. Goodell, Assistant Cashier.
m
1 1. banking
1. n
*
) CaPi u l >*150,000.
A Blackhawk
general
business
County
— transacted.
Surplus, *2 5 .0 0 0 .
I H. B. Allen, President.
IF. J, Eighmey, Cashier.
Municipal, county and school bonds bought and sold.
Farm loans negotiated at lowest rates. Prompt service.
W ATERLOO,
(German AmericanLoan
)
Co.’ s Bank.
and Trust
Bremer County .............. /
Capital, *2 5 ,0 0 0 .
\ Surplus, *15,000.
J W. C. Holt, President.
\ Julian Ruddick, Cashier.
A general banking business transacted.
W APELLO,
(The Wapello State Savings Bank.
Louisa County............... I Capital Stock, *30.000.Surplus, *10,000.
\ John Otto, President.
I F. M. Ong, Vice-President.
VW. H. Colton, Cashier.
Prompt attention paid to all business intrusted to us.
W IN TER SET,
Madison County
¡ First National Bank.
Capital, *50,000.
Surplus, *20,000.
C. D. Bevington, President.
W. S. Whedon, Cashier.
G en eral b a n k in g b u s in e s s tr a n s a c te d .
Representative Iowa Lawyers.
DAVENPORT,
/ Heinz & Fisher.
Scott County................... J Reference :
1
A general law business.
Any Davenport bank.
Real estate mortgagee bought and sold.
FA IR F IE L D ,
( Rollin J. W ilson.
Jefferson County........... ^
j
1
General Attorney,
Refers to any bank in county.
1 make a special feature of Commercial and Banking Law.
MASON CITY,
i( Cliggitt, Rule & Keeler
) References by Permission:
First National Bank.
I
City National Bank.
1[ Iowa National Bank.
Special attention to commercial law.
Cerro Gordo County . . «\
OSKALOOSA,
(: J. F. & W . R . Lacey.
Reference:
Oskaloosa National Bank.
Mahaska County State Bank.
Do a general law business.
Mahaska County...........■<
|
1.
Parctice in all courts.
Special List Minnesota Banks,
GLENCOE,
{ Bank of Glencoe.
Capital, *50,000.
McLeod County
Surplus,
Banking business transacted, Farm
loans*10,000.
a specialty,
G. K. Gilbert, President.
A. J. Snyder, Vice-President,
L. W. Gilbert, Cashier.
FRASER
E. H. Carson, Assistant Cashier,
Digitized for
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Authorized Capital, *50,000.
Paid Up Capital, *25,000.
Surplus, *4,000.
A. C. Burmeister, President.
H. D. Baldwin, Vice-President.
kH. A. Baldwin, Cahier.
O. W. McMillan, Ass’t Cashier.
General banking business transacted.
Go to the W o r ld ’s Fair via. W abash.
SIDNEY,
/Fremont County Bank.
Fremont County........... I Capital, *25,000.
W AYERLY,
/First National Bank.
Redwood County.
Clay County...................... \ Franklin Floete, President.
TAM A,
Tama County.
(Citizens State Bank.
I
Chippewa County........ (
/F irst National Bank,
SPENCER,
MONTEVIDEO,
47
Now is the time to go to St. Louis as the Fair is
at its best. Take your family as it is worth more
than a years schooling to any young boy or girl
over ten years old. It is twice as great as was the
Columbian Exposition, and cost three times as
much. The Wabash has THREE fast trains daily
and you should ask to have your tickets read W a
bash. All the Wabash trains stop at the main
gate. For further information write:
H. W. F l i n t , P. & T. A., Des Moines, la.
Business O pportunities for A ll.
Locations in Iowa, Illinois, Minnesota and Mis
souri on the Chicago Great- Western Railway; the
very best agricultural section of the United States,
where farmers are prosperous and business men suc
cessful. We have a demand for competent men with
the necessary capital for all branches of business,
millers.
Good location for general merchandise.
Some special opportunities for creamery men and
hardware, harness, hotels, banks and stock buyers.
Correspondence solicited. Write for maps and Maple
leaflets. W. J. Reed, Industrial Agent, 604 Endicott
Building, St. Paul, Minn.
SO U TH ERN
LANDS
For General Farming, Live Stock
Raising, Fruit, Truck and Poultry
Raising along the
Southern Railway and
Mobile & Ohio Railroad
In the States of Virginia, North
Carolina, South Carolina, Georgia,
Alabama, Mississippi, Kentucky
and Tennessee and Southern In
diana and Illinois.
Good Markets, Productive Soil, Pure Water,
Valuable Timber, Health Resort Region,
A Land of Homes, Schools and Churches,
Fine old-time Plantations, Farm
Lands, Wild Lands, all sizes, at
bargain prices- Good land from
$3.00 to $15 00 per acre. Interest
ing literature sent free on appli
cation to
M. V. RICHARDS,
Land and Industrial Agent,
W a s h i n g t o n , D. C.
CHAS. S. CHASE,
Agent Land and lnd. Dep’t,
Chemical Building,
St . L ouis , Mo.
T. B. THACKSTON,
Trav. A g’ t Land and lnd. Dep’t,
225 Dearborn Street,
Ch ic a g o , I I I .
THE NORTHWESTERN BANKER.
48
August, 1904.
Royal Home Sport
For real fun, vim and healthful exercise of mind and body, billiards and
pool surpass all other games that can be played within four walls. Their
powers to amuse and hold the interest and pile up excitement as home
games make them the ideal attraction for keeping men and boys home
nights and amusing the entire family circle.
The Indianapolis
omhination T able
Library—Dining—Billiard—Pool
takes no more room than an ordinary library or dining
table, yet affords ample space to play the games as
they should be played. Made of best materials, beauti
fully finished, slate beds, regularly equipped.
We have made a new catalog that handsomely illustrates our
entire line of Combination Billiard and Pool Tables (from $25 to $150) and a variety of the kind of distinctive
porch furniture that is preferred by people who know and want the best. Send for the catalog—its FREE and
tlfe^kbig. Combination Billiard Mfg. G o ., 3 6 * 6 6 Ingalls, Indianapolis, Ind.
U N IO N S A V IN G S
Sa m p le C h a ir.S trik in g
fu rn itu re ,h a n d so m e ly
fin ish e d . J u s t
th e
th in g fo r th e v eran d a
or d en.
The LEADING HOTEL
IN IOWA.
BANK,
DAVENPORT, IOWA.
CAPITAL, $100,000.
Rouse...
SURPLUS, $34,277.
DES MOINES, IOWA.
COMMERCIAL AND SAVINGS.
AM ERICAN PLAN.
$3.00to$4.50Derday.
4 PER C E N T IN T E R E S T P A ID ON D E P O S IT S .
EUROPEAN PLAN.
OFFICERS :
First-class Cafe in Connection
with Hotel.
$l,50to$3.50Derday.
F. H BARTEMEYER, Pres.
J .W . BARTEMEYER, Vice-Pres.
W ILLIAM HEUER, Cashier.
S. D. BAWDEN, Ass’t Cashier.
V alley Rational F>anl^
SAVER Y HOTEL COMPANY, Proprietors.
SECOND NATIONAL
OF DES MOI NE S
BANK
Condensed Statement, June 9, 1904
COMPTROLLER’ S CALL
jt Jt
Report of Condition at Close of Business June 9, 1904
Cash_
R E SO U RCES
Loans and Discounts......................................$ 943,247.22
Overdrafts................................ ......................
668.08
Stocks and Bonds...........................................
91,625.58
Premiums..................................................
9,198.00
Banking House and Fixtures.......................
42,923.72
Other Real Estate and Mortgages Owned ..
10,014.00
United States Bonds........................................
301,920.00
Cash and Exchange........................................
430,461.52
Total ....................................................... $1,829,758.12
LIABILITIES
resources.
On Hand ....................................................... $137,326. 41
With Other Banks...................................... . 343,306.69
With U. S. Treasurer................................. . 9,000. 00 $ 489,633.10
In ve stm e n ts—
Loans ............................................................ . 761,421.09
Bonds and Other Securities — ............... . 312,059.49
Overdrafts......................................................
772.37
Banking House and Real Estate............... . 61,200.00 1,135,432.95
$1,625,036.05
Total
L IA B ILIT IE S.
Individuals.................................................... .$500,047.71
Banks............................................................. 471,447. 77
United States................................................ 70,000.00 $1,041,495. 48
D e p o s it s -
C a p it a l —
Capital S to ck ...................................................$ 200,000.00
Surplus......................................................
100,000.00
Undivided Profits (n et)..................................
9,705.22
C irculation......................................................
171,347.50
D eposits............................................................ 1,348,705.40
Total.........................................................$1,829,758.12
R . A. CRAWFORD, Pres.
Paid in............................................................ 300,000.00
Surplus and Profits...................................... 103,540.57
C i r c u l a t i o n .................................................................. .................
Total
ACCOUNTS
OF
B ANKS,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
G IV E N
OFFICERS :
W. E. BARRETT, Cashier
F IR M S
AND
CAREFUL
IN D IV I D U A L S
A T T E N T IO N :::::
403,540.57
180,000.00
$1,625,036.05
This bank transacts a commercial business only, and
pays no interest except on balances of other banks
J. K. D e m in g , Pres.
S O L IC IT E D . A N D
OF D U B U Q U E, IO W A
W . H. D a y , Vice-Pres.
H e k m . E s c h e n , Cashier
DIRECTORS :
W m. L. B r a d l e y ,
J a m e s M. B u r c h ,
W . H. D a y ,
H .B G l o v e r
J. K. D e m in g , F. A . R u m p f , G e o . W . K i e s e l
@FedFRASER