Full text of The Northwestern Banker : August 1915, Twentieth Year, Number 336

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J

T W E N TIE T H YEAR

DES MOINES, IO W A, AUGUST, 1915
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II Northwestern National Life Insurance Co.
MINNEAPOLIS, MINN.
JOHN T. BAXTER, President
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A

PURELY

MUTUAL,

OLD-LINE,

WESTERN

COMPANY

T O T A L NUMBER 336
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D irecto rs

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F.
C.
T.
E.
B.
A.
J.

W. DECKER, Pres. Northwestern National Bank
A. CHAMBERLAIN, Pres. Security Nat’l Bank
T. JAFFRAY, Vice-Pres. First Nat’l Bank
B. JANNEY. Pres. Farmers & Mechanics Bank
L. CARPENTER, Shevlin-Carpenter Clarke Co.
F. NELSON, Pres. Hennepin Paper Co.
A. CRANE, Yice-Pres. First National Bank
A. LATTA, Vice-Pres. Northwestern Nat’l Bank

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U. S. DEPOSITORY

II = Hanover
National
Bank
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Citizens
National
Bank

The National City Bank
OF CHICAGO

OF THE CITY OF NEW YORK
Nassau and Pine Streets

U. S. Depository

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W IL L IA M W O O D W A R D —.President
E. H A Y W A R D F E R R Y ..........V .-P res.
H E N R Y R. C A R SE ................. .V .-Pres.
SAMUEL W O O LVERTO N ......V.-Pres.
E LM E R E. W H IT T A K E R ..... Cashier
WM. I. L IG H T H IP E ............A sst. Cash.
A L E X . D. CAM BE LL____ Asst. Cash,
CHAS. H. H AM PTON____ Asst. Cash,
J. NIEM ANN.......................... A sst. Cash,
W IL L IA M D O NALD............Asst. Cash.
GEORGE E. L E W IS ............Asst. Cash,

11

Established 1851

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Ef Capital
$3,000,000 f
If Surplus and Profits 15,000,000 I

Capital
Surplus

.
.

.
.

.
.

. $ 2,000,000.00
.
750,000.00

O FF IC E R S
D avid R. F orga n , P resident
A lfred L. B aker, V ice-P resid en t
H. E. Otte, V ice-P resid en t
F. A. Crandall, V ice-P resid en t
R ob ert R. F orga n , V ice-P resid en t
W a lk er G. M cLaury, Cashier
W . T. Perkins, A sst. Cashier
W . D. D ickey, A sst. Cashier
H en ry M eyer, Asst. Cashier
A. W . M orton, Asst. Cashier
W m . N. Jarnagin, A sst. Cashier
R. B. Fuessle, Asst. Cashier
L ee A. K in g , A u ditor
G eorge L. W ire, A ttorn ey
R. U. L an sing, V ice-P resid en t and M an­
a ger B ond Dept.
M. K. B aker, Asst. M anager B ond Dept.

DES MOINES, IOWA

| J. G. R O U N D S ...............................President |f
| S. A. MERRILL . . . .
Vice-President |i
I GEO. E. P E A R S A L L .......................Cashier
H
| W. W. M A I S H ................. Asst. Cashier
¡f

I Capital
I Surplus

Solicits Your Business

-

-

-

$300,000 f !
100,000 ¡I

ACCOUNTS SOLICITED

I _

THE

II

I First National Bank |
ST. JOSEPH, MISSOURI

New Business Invited
on the b asis of

SATISFACTORY SERVICE

CAPITAL,
SURPLUS,

Resources Over $3,000,000.00

fl F IR S T N A T IO N A L B A N K I
DAVENPORT, IOW A
fl

L J. YAGGY, Cashier

A. F. DAWSON, President

f

-

$500,000.00
$300,000.00

R. T. FORBES, Pres.
THOS. W. EVANS, Chairman
R. S. BRITTAIN, Asst. Cashier
W. S. McLUCAS, Vice-President
JAS. E. COMBS, Cashier

MAX ANDRIANO, Asst. Cashier
R. N. RIDGE, Asst. Cashier

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Federal Reserve Bank of St. Louis

THE

2

NORTHWESTERN

R A N K E R ______________August, 1915

VALLEY N ATIO N AL
BANK
DES M E T IOWA

S econd

Capital and Surplus $500,000.00

National

Bank

and
" VALLEY NATIONAL BANK
nOO » n il HA
Deposits VALLEY SAVINGS BANK
$ 4 » 0 U U ,U U U .U U

Dubuque

Under Same Management

Savings

Bank

Dubuque, Iowa

OFFICERS AND DIRECTORS
R . A. CRAW FO RD , President
C. T. COLE, JR ., Vice-President
D. S. C H A M B E R L A IN , Vice-President
W . E. B A R R E TT, Cashier

Reserve Agents for National Banks.
UNITED STATES DEPOSITARY
Combined Capital, Surplus and Profits

Tlios. F. Stevenson, Attorney
W. E. Tone, Treas, Tone Bros. Wholesale Coffees, Teas and Spices
W. C. Harbach, Sec. <fc Treas. L. Harbach’s Sons Co.
E. W. Stanton, Vice-Pres. Union Nat. Bank, Ames, la.
C. W, Mel) nig, Pres. Mennig-Slater Co. Vinegar & Pickle Works
Alfred Hammer, Pres. A lfred Hammer & Co., Druggists

$600,000.00
O F F IC E R S A N D D IR E C T O R S
J . K . D e m in g

W . H. D ay

H . B . G lo v e r

W e invite Your Des Moines Account, promising Careful,
Efficient and Satisfactory Service.

j

H erm E sch en

Jas. M . B u r c h
C h a s. H . B r a d le y

. t . C arr

F ra n k B e ll
G e o . W . K ie s e l

Organized 1876

*•Roahek'

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| The First National Bank of W aterloo, Iowa I
|

Solicits your business on the most favorable terms consistent w ith
safe and conservative banking. "W e pay interest on bank accounts.

1

O ur Capital— $ 2 0 0 ,0 0 0

|
|

O ur Surplus and P rofits — $ 2 7 5 ,0 0 0
O F F IC E R S .
F . J. E I G H M E Y , P re s id e n t

A . M . P L A C E , V ic e -P r e s id e n t
J A S . B L A C K , V ic e -P r e s id e n t
C. A . L A R S O N , C a sh ie r

F . P . H U R S T , A s s is t a n t C a sh ie r
V . J. R E C H T F E R T I G , A s s ’t C a sh ie r
H . H . C O R D E S , A s s is t a n t C a sh ie r

D IR E C T O R S .
J . W . R a th
A . M . P la c e
F . J . E ig h m e y

H . W . G ro u t
W . W . M a rs h
J. T . S u lliv a n
T . W . P la c e

.................................................................................................................................................................................................................................................................................................................................E l!........lllllO II I I I IN II i n il lll ll lll lO I II H H I I I O I I I I I .........IE3IIIIIII1I1IIE3II........ IIIIIE2I....................E ll...........

CENTRAL TRUST COMPANY
O F ILLINOIS
C H IC A G O

Capital, Surplus and Profits, $ 5 , 0 0 0 , 0 0 0
Deposits
3 5 ,0 0 0 ,0 0 0
Accounts of banks and bankers received upon favorable terms
Thoroughly equipped to handle all business pertaining to banking, and invites the ac­
counts o f banks, corporations, firm s and individuals.


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Federal Reserve Bank of St. Louis

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F . J . F o w le r
C. F . F o w le r
J. O. T rn m b a u e r
J a s. B la c k

August, 1915

THE

NORTHWESTERN

------------ ---------------------------------

BANKER

CHAS. B. MILLS Z Z Z Z Z I Z Z Z Z Z Z I Z = I Z Z

Vice-President Scandinavian American National Bank, Minneapolis, Minn.
Pennsylvania was the state where Chas. B. Mills first started on his career
of capturing the coin and making friends worth while. On June 5, 1882, he
went to Sioux Rapids, Iowa, to work as an operator for the C. & N. W. Rail­
road, and remained with that company until November 12, 1885, when he was
appointed assistant cashier of the Farmer, Thompson and Helsell Bank at Sioux
Rapids. It was here that Mr. Mills received his first banking experience, in
the profession in which he has since been so successful. In December, 1892,
together with Miles Moe and A. H. Hulett, he organized the Security Bank of
Sioux Rapids and became its cashier. Mr. Moe died in 1896 and Mr. Mills was
elected president, the bank then being reorganized as the State Security Bank.
About five years ago it was nationalized as the First National and now has a
capital and surplus of $65,000 and deposits of $325,000. In 1902 he went to
Clinton, Iowa, as cashier of the Peoples Trust and Savings Bank, and he is
still a director and large stockholder in this institution. Minneapolis was his
next field of activity and in 1913 he joined in the purchasing of a two-thirds in­
terest in the Commercial National Bank, whiph in February, 1913, was reorgan­
ized as the National City Bank and then later consolidated with the Scandi­
navian American National Bank. Mr. Mills is president of the First National
Banks at Linn Grove, Iowa; Sioux Rapids, Iowa; Rembrandt, Iowa, and the
State Bank of Laurens, Iowa, and is also largely interested in the Rossie Sav­
ings Bank, Rossie, Iowa; First National Bank, Hancock, Minn.; Brule National
Bank, Chamberlain, S. Dak.; Pukwana State Bank, Pukwana, S. D.; Bank of
Bijou Hills, in addition to his connection with the Scandinavian American Na­
tional Bank of Minneapolis.


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Federal Reserve Bank of St. Louis

THE

4

NORTHWESTERN

B A N K E R _______________August, 1915

S ta te m e n t

I f you w a n t stren gth — service— and
I^ est ^ u e ,
you can not do b etter than to ow n INDESTRUCTO
b a gga ge.

$74,549,997.46

Y ou are p rob a b ly the sort o f a man w h o w ants valu e
and k n ow s valu e w hen he sees it— let us send you
our ca ta lo g — then g iv e us y ou r opin ion o f an
INDESTRUCTO trunk from the standpoint o f stren gth
— price— service— or fa ir value.

8

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4 -color

National Veneer Products Co.
M IS H A W A K A , INDIANA

X%X&t&X$X$X%X%X%X$X$XZX%X%X*++*o

W

We are needing more young men, ages 19 to 24 years,
who are neat penmen and are experienced in stenog­
raphy and typing, and can operate adding machines, for
country and city banks. Write us confidentially.

ROGERS REFERENCE COMPANY
540 Paxton B lk .

|

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♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦

ATTENTION!

B u s in e s s

$74,549,997.46
L IA B IL IT IE S .
C a p ita l S t o c k ........................................................................ $ 3 ,000,000.00
7,000,000.00
S urp lus F u n d ........................................................................
829,519.05
U nd ivid ed P r o fits ...............................................................
62,392.90
R e s e rv e d f o r A c e ru e d In te r e s t a n d T a x e s
2 ,961,769.00
L ia b ility u n d e r L e tte r s o f C r e d it...........................
60,696,316.51
D e p o sits ..................................................................................

I f you are a man w h o w a n ts the v ery b est in
traveling- equipm ent, then you m ust select an
INDESTRUCTO trun k— an INDESTRUCTO b a g or
suitcase.

W rite tod ay— w e’ll send you our b ea u tifu l
b o o k le t the day w e g e t y ou r letter.

C o n d ition a t C o m m e n c e m e n t o f
J u n e 24, 1915.

RESOURCES.
L o a n s an d D is c o u n t s ........................................................ $37,517,762.54
C u sto m e r s’ L ia b ility u n d e r L e tte r s o f C red it 2,961,769.00
9,237,728.29
B o n d s an d M o r t g a g e s ...........................•........................
D u e fr o m B a n k s a n d
B a n k e r s ........................................... $15,910,417.77
Cash an d C h ee k s fo r
24,832,737.63
C le a rin g H o u s e .
...................
8,922,319.86

Y ou Can Profitably Invest
in Indestructo Luggage

ft

of

O R S O N S M I T H ......................................I
...............................P re s id e n t
E D M U N D D . H U L B E R T ...........................................V ic e -P r e s id e n t
F R A N K G . N E L S O N ....................
.V ic e -P r e s id e n t
J O H N E . B L U N T , J R .................................................V ic e -P r e s id e n t
P . C. P E T E R S O N ........... ................................................................. C a sh ie r
C. E . E S T E S ................. I..............................................A s s is t a n t C a sh ie r
J O H N J. G E D D E S ................................................. A s s is t a n t C a sh ie r
L E O N L . L O E H R .............................. S e c re ta r y a n d T r u s t Officer
A . L E O N A R D J O H N S O N ...............................A s s is t a n t S e c re ta r y
F . W . T H O M P S O N ..............M a n a g e r F a r m L o a n D e p a r tm e n t
H . G. P . D E A N S ..........................M a n a g e r F o r e ig n D e p a r tm e n t
...........................M a n a g e r B o n d D e p a r tm e n t
G. F . H A R D IE
C H IC A G O

Chipped Gold Bank S ip s

iiRMAN-A|IERIpN
,t - Q

n t /i N

fM s V ih i

B anking D epartm ent
____
OMAHA, NEBRASKA

1 SCAPITAI:

S. Bartlett Jones & Co.

$20Ä 0 0 0 ^ t :ÿ î

’ ; - START «VflâtâfôfôQ:®AY.'~'

Chartered Accountants
Certified Public Accountants
Our certificates as to the financial position of our
clients are accepted by the foremost bankers and
financial institutions in the country.
. . . .

W ill id en tify y ou r bank in a pleasing,
dignified and im pressive manner. They
are a lw ays b righ t, do not tarnish, need no
polish in g and can be read fu rth er than
any other signs.
Send us cut, ph oto or pencil sketch o f
you r bank, in d ica tin g w here you w ou ld
lik e signs, g iv in g sizes and letterin g, and
w e w ill subm it prices and sketch es w ith ­
ou t o b lig a tin g you.
Our C atalog, “ BANK SIGNS,” fre e.

RATES AND REFERENCES ON REQUEST

822 Hubbell Bldg.

DES MOINES IOWA

Phone Walnut 2435

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

J IA W S O N & EVANS CO.
711-713 W a sh in g to n Blvd.

CHICAGO

The Northwestern Banker
$2.00 Per Annum

DES M OINES, I O W A , A U G U S T , 1915

20 Cents Per C op y

W h y Bankers Should Know Farming
By George T . W ells
this purpose, especially for
It is generally conceded
the farmer with small
by economists, financiers
means as the original in­
and leading business men
vestment is small. Both
that the basic foundation
of these are best adapted
of permanent and increas­
to use the refuse and un­
ing prosperity as well as
saleable stuff.
all wealth is the soil, and
Also the farmer with a
products of same, and un­
few
cows finds the milk
less these show a healthy
check that he receives
condition of progress and
from the creamery is one
development no commun­
of the best contentment producers and helps he has.
ity, commonwealth or nation can prosper.
Live stock is also the solution of getting your pro­
In a sense, the country banker is more directly inter­
ested in the agricultural development of his community, duce to market (and it is always a cash market, espe­
but when we stop and think we must realize that the cially in the western states where the railroad hauls
are long and expensive).
city banker is as much con­
Don’t congest your railroad
cerned as his country client
facilities by shipping your live
who depends upon him to dis­
stock and farm produce out to
count during certain seasons,
other points where perchance
especially during harvesting
(and such things have hap­
and marketing seasons. Also
pened) your alfalfa, etc., will be
the rural communities must be
fed to your own live stock, you
able to buy, that the manufac­
having paid two freights, con­
turers, wholesalers, jobbers and
gesting the service and also los­
commission men in the city
ing the manures so needed in
may live and prosper and cer­
the highly mineralized soils of
tainly the city banker is de­
the West.
pendent upon these people for
Summing the situation up it
his business.
would seem ;
It behooves every banker to
1. When agriculture is pros­
interest himself in agricultural
perous all other business pros­
methods and development, not
pers.
so much to see that the farmer
2. When agriculture is sick
receives scientific training, but
all other business is cramped,
to assist him in better market­
3. Increased profits from ag­
ing facilities and study the sub­
riculture increase the bank de­
ject himself that he is better
posits and loans.
able to confer with the farmer
4. Increased profits from ag­
and understand his problems
riculture increase the sales and
and necessities. To gather data
profits of every other line of
so that he will be informed as
business.
to the production in his locality
5. There is not a single
and assist in the prevention of
county in the United States
over production in some prod­
where the farmers could not
ucts and the dearth of others.
double their profits by better
The banker should also study
farming, business and market­
GEORGE
T.
WELLS
the subject so as to be able to
ing methods, which can only be
Denver National Bank
advise the farmer as to the ne­
Denver,
Colo.
consummated by co-operation
cessity of diversification of
with all business interests, espe­
crops and especially the neces­
cially the bankers.
sity of raising various crops
6 . The greatest efficiency in farming is always
sufficient at least to provide the living expenses ; should
the farmer be unwise enough to depend entirely on one found where business men co-operate with the
single crop, which has so often in case of failure com­ farmers.
7. Live stock assures a market right at home and
pelled him to borrow in order to live.
Live stock should-be on every farm at least sufficient is cash on delivery when ready for sale.
to use the unsaleable products as well as ^provide " 8. Let the banker take interest in the farmer, not
towards the table. Hogs and poultry are the best for altogether from him.
“ Let the banker take interest IN the farmer not altogether
FROM him,” is the terse way George T. Wells of the Den­
ver National Bank, Denver, Colo., expresses his views on
the banker-farmer movement. He also believes that it is
time that the banker should study farming as well as the
farmer. “ It behooves every banker,” he says, “to interest
himself in agricultural methods and development, not so
much to see that the farmer receives scientific training *
* ■* but to study the subject himself that he is better
able to confer with the farmer and understand his prob­
lems.” Mr. Wells is chairman of the Agricultural Commit­
tee, Colorado Bankers Association; Director, National
Western Stock Show Association, and member of the Agri­
cultural Commission, American Bankers Association.


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

August, 1915

The National Bank of the

R E P U B L IC
of Chicago
continues to offer banks and bankers the
advantages of its facilities, developed and
perfected by nearly twenty-five years of
close personal relations with a constantly
growing list of correspondents through' out the world.

A Service based on
the facilities and
experience gained

OFFICERS
JOHN A. LYNCH. President
R. M. M cK IN N EY . Cashier
JAMES M. HURST, Ass’t Cash.
THOS. D. ALL IN , Aas’t Cash.

W. T. FENTON, Vice-President
O. H. SWAN. Ass’t Cashier
W M . B. LAVINIA, Ass’t Cash.
LOUIS J. MEAHL, Ass’t Cash.

during halt a cen­
tury is extended to
banks and bankers

Merchants National Bank
BURLINGTON, IOWA

by the First National
Bank of Chicago.

Capital, $ 1 0 0 ,0 0 0
Surplus and Profits, $ 1 3 0 ,0 0 0

OFFICERS
J. L. E D W ARD S

W . E. BLAKE

President

Vice-President

JAMES M O IR
Vice-President

Vice-President

H. J. HUNGERFORD
Cashier

F.

Correspondence is

ALEX. M O IR

L. HOUKE

invited

by

this

C. L. FULTON

Ass’t Cashier

Ass’t Cashier

o ld , strong and

DIRECTORS
W . E. BLAKE. Chairman
H. A. BRO W N
JAMES M OIR
W . C. TUBBS
JOHN BERNARD
W . W . COPELAND
ALEX M OIR
J. L. EDWARDS
J. L. W AITE

Your Southeastern Iowa

G. H. RAGSDALE, President

Business

conservative bank.

Invited

EDWIN G. RAGSDALE, Secretary

H. B. RAGSDALE, Treasurer

IO W A LITHOGRAPHING
CO M PA N Y
DES M O IN E S ...................... IO W A
Established 1856


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Federal Reserve Bank of St. Louis

August, 1915

THE

NORTHWESTERN

BANKER

THE BANK OF NORTH

;

A M E R IC A

N A T IO N A L BANK

PHILADELPHIA, P E N N SYL V A N IA
The Oldest Bank in the United States, Chartered, 1781

Banks and bankers in all parts of the country will find the service rendered by this
old established bank efficient and satisfactory in every respect
Capital, $1,000,000.00

Surplus and Undivided Profits, $2,400,000.00

H A R R Y G. M ICHENER, Pres.
C H AR LES H. H A R D IN G , Vice-Pres.
W IL L IA M J. M URPHY, Ass t Cash.
R IC H A R D S. M cK IN LEY, A ss’t Cash.

H. T. BLACKBURN, PRESIDENT OF THE IOWA
BANKERS ASSOCIATION, SELECTS HIS
COMMITTEES.
The following standing committees have been ap­
pointed for the Iowa Bankers Association by H. T.
Blackburn, president:
Agricultural— L. E. Stevens, Des Moines; N. C.
Hoffman, Murray; J. R. Mackey, Sigourney; E. H.
Reimann, Hull; E. W . Miller, Waterloo; C. E. Narey,
Spirit Lake; J. T. Whiting, Mount Pleasant; S. M.
Carpenter, Monticello; B. B. Clark, Red Oak; E. J.
Curtin, Decorah; C. H. McNider, Mason City.
Good Roads—W . A. Hopkins, Lamoni; T. R. Watts,
Grand Junction; C. R. Carpenter, Fayette; Charles F.
Schenck, Red Oak; H. M. Pattee, Perry.
Legislative—J. G. Rounds, Des Moines; H. G.
Moore, Wellman; A. F. Dawson, Davenport.
Legislative Advisory—J. H. Bale, Ruthven;.L. H.
Russelle, Chariton; W . M. Davis, Iowa City; J. A.
Dunlap, Keokuk; M. W . Ellis, Charles City; C. E.
Lofland, Oskaloosa; Sears McHenry, Denison, H. R.
Martin, Oelwein.
Auditing— G. H. Messenger, Linden; J. P. Kirby,
Estherville; C. C. St. Clair, Marshalltown.
Time-lock— T. P. Breheny, Atlantic; Geo. J. Schaller, Storm Lake; C. W . Gadd, Buffalo Center.*
RAY NYEMASTER SUCCEEDS R. S. ALNUTT
AS CASHIER OF MUSCATINE STATE
BANK, IOWA.
Ray Nyemaster, of Davenport, Iowa, has been
elected as cashier of the Muscatine State Bank, Mus­
catine, Iowa, to fill the vacancy caused by the resig­
nation of Bernard S. Alnutt, who becomes cashier of
the City National Bank, Evansville, Indiana. Mr. Nye­
master has been associated with the George M. Bech­
tel Bonding company during the past five years, serv­
ing in the capacity of vice-president and manager of
the purchasing department.
Mr. Nyemaster has enjoyed a rapid rise in financial
circles and it is this success which prompted his selec­
tion for the responsible position of cashier.
STATEMENT OF EXCHANGE STATE BANK,
The Exchange State Bank, Walker, Iowa, at the
close of business July 6, 1915, had deposits amount­
ing to $ 387,983.28, surplus and undivided profits $40,834. The reserve required by law is $38,798 and the
actual reserve of the Exchange State Bank is $88,555
thus having an excess over the legal requirements of
$49,757.

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Federal Reserve Bank of St. Louis

Deposits, $13,000,000.00

SAM UEL D. JO R D A N , Cashier
CH AS. M. PRIN CE, A ss’t Cash.

ROBERT R. FORGAN ELECTED VICE-PRESI­
DENT OF THE NATIONAL CITY BANK
OF CHICAGO.
Robert R. Forgan has been appointed a vice-presi­
dent of the National City Bank of Chicago by the board
of directors.

ROBERT R. FORGAN
Vice-President National City Bank
Chicago, 111.

Mr. Forgan is a son of David R. Forgan, president of
the bank, and has for the past ten years been actively
engaged in the commercial paper business. He is a
graduate of the Hill School, Pottstown, Pa., a prepara­
tory school for Princeton, which university he also
attended. After leaving Princeton, he was for five
years connected with the firm of Hathaway, Smith,
Folds & Company, leaving there to become an active

THE

NORTHWESTERN

ATLANTIC

August, 1915

BANKER

NATIONAL

BANK

OF THE C IT Y OF N E W YO R K
O R G A N IZE D 1829

Merchants

Exchange

National

Capital Stock..................................................................
Surplus Fund..................................................................
H ERM AN D. KOUNTZE,
Vice-President
G ILBER T H. JOHNSON,
Vice-President

OFFICERS
PHINEAS O. LOUNSBURY,
President
ED W AR D K. CHERRILL,
Vice-President
ED W ARD. V. GAM BIER,
Vice-President
FR A N K E. ANDRUSS,
Cashier

Bank

••$ 1 ,0 0 0 ,0 0 0 .0 0
6 0 0 ,0 0 0 .0 0
K IM BALL C. ATWOOD,
Vice-President
W ILLIAM F. FITZSIMMONS,
Assistant Cashier

We Solicit Deposit Accounts lrom Banks. Bankers, Trust Companies, Corporations, Firms and Individuals

partner in the firm of the W . T. Rickards Company,
commercial paper dealers of Chicago.
Mr. Forgan intends to devote his future to banking,
having disposed of his interests in the W . T. Rickards
Company in order that he might give his entire atten­
tion to the affairs of this bank. He is married and lives
on the North Side in Chicago.
P. W. HALL, SECRETARY I. B. A. URGES SAV­
ING 1914 SEED CORN FOR PLANTING
NEXT YEAR.
In a recent bulletin issued by the Iowa Bankers As­
sociation, P. W . Hall, secretary, urges that the farmers
save their 1914 corn for 1916 planting. He says :
. “ W e need one and one-half million bushels of seed
corn each year for planting in Iowa, but if we have a
large acreage of soft corn this fall, then it is doubtful
if we will have seed enough. Other states are no better
off. In fact, their prospects for corn are not even as
good as ours.
“ W e would suggest that the bankers advise their

farmer customers to select seed corn at once for 1916
planting if they have some good, old corn on hand, and
that they test each ear and keep the selected seed corn
in a dry place. Then the farmers will have a satisfac­
tory supply of seed for 1916, even though their corn
this year may be soft.”
Henry Wallace, publisher of “Wallace’s Farmer,” in
referring to Mr. Hall’s suggestion, says:
’ “ If the corn crop is all right this year, the advice will
not be needed. I advise farmers to save from the 1914
crop just twice the amount needed for next spring’s
planting. Only a comparatively few farmers dry their
seed corn by artificial heat. Corn which is now in the
cribs will grow. Some years ago there was a quantity
of soft corn in the fall and we did not pick it. Some of
it fell to the ground and was thoroughly frozen that
winter. The next spring the kernels sprouted into good,
healthy stalks. Of course, this is an extreme instance.
“ I am warning northern farmers against securing
seed corn from territory to the south. The latter is
larger and shows greater development but requires a
much longer time to mature. If northern farmers se­
cure southern seed corn, the chances are it will not
fully mature next year, with the result that we will
have soft corn.”
ISAAC H. SEARS, FORMER PRESIDENT OF
SCOTT COUNTY SAVINGS BANK, DAVEN­
PORT, IOWA, PASSES AW AY.
Isaac H. Sears, who was president of the Scott
County Savings Bank, Davenport, Iowa, for twentynine years, recently was called by death. He was nine­
ty-four years of age and although he resigned as presi­
dent of the bank in 1912 he still retained an active in­
terest and was chairman of the board of directors. Mr.
Sears was one of the veteran bankers of Iowa.
SECURITY SAVINGS BANK ORGANIZED AT
MARSHALLTOWN, IOWA.
Permanent organization of the new Security Savings
Bank of Marshalltown, Iowa, was perfected recently
and the following officers have been elected: J. L.
Williams, president; W . W . Doolittle, vice-president
and H. M. Vawter, cashier.
The directors are J. L. Williams, W . W . Doolittle, H.
M. Vawter, C. W . Warcup, L. R. Willard, John Brennecke, E. S. Ketchum, and A. Higgin, of Marshall­
town, and J. O. Bissett, of Lamoille. It is the plan of
the new bank to begin business about September first.


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Federal Reserve Bank of St. Louis

August, 1915_________________ T H E

NORTHWESTERN

9

BANKER

Capital $500,000.00
O F F IC E R S
F. H.

Surplu s, Earned, $1,000,000.00

D A V I S ....................................... P re sid e n t

C. T . K O U N T Z E ...............................................
V ic e -P r e s . a n d C h a ir m a n o f th e B o a rd
Li. Li. K O U N T Z E ................. .V ic e -P r e s id e n t
T.

I j.

D A V I S ....................................

C a sh ie r

I R V I N G A L L I S O N ...................A s s t . C a sh ie r
G . T . Z I M M E R M A N ................-A s s t. C a sh ie r
O. T . E A S T M A N ....................... A s s t . C a sh ie r
M Y L E S S T A N D I S H ................ A s s t . C a sh ie r

■ ■-

----- CH ARTER N o. 2 0 9

^

M rst National
1 Ban
Rof Omaha
0
---TvTTP.FtreA
A =

O rganized in 1857 a s
KOUNTZE BROTHERS

THE DIRECT SERVICE BANK

The bank’s building, the former F. S. Wild property,
is now being remodeled to suit the needs of the bank.

the list of the young cashiers of Iowa. Carl A. Rosenfield has succeeded W . M. Greeley as president.

THE CITIZENS SAVINGS BANK, KELLEY, IAV
GAINS $11,044.21 IN DEPOSITS IN ONE YEAR.
A splendid showing has been made by the Citizens
Savings Bank of Kelley, Iowa, in their call of July 6th.
This statement shows an increase in deposits of $11,044.21 over the statement of July 6, 1914. Their de­
posits are now $50,328.10.
C. L. Roe, who has been connected with the Peoples
Savings Bank, Nevada, Iowa, succeeded C. L. Siverly
as cashier of this thriving Kelley institution. Mr. Roe
is only twenty-one years of age and this places him on

FARMERS STATE BANK AT PAULLINA, IOWA,
BECOMES A NATIONAL BANK.
At a meeting of the stockholders and directors of the
Farmers State Bank, Paullina, Iowa, it was resolved to
convert the bank into the First National bank of Paul­
lina. The same board of directors that has had charge
of the State bank will continue to hold their offices
after it is converted into a First National. The officers
are Jas. F. Toy, president; Wm. Cain, vice-president;
Geo. W . Harris, C. F. Meyer, John Ginger, Henry Hibbing, Theo. Wiechner and W . C. Fife, directors. The
capital will be increased from $25,000 to $50,000.


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Federal Reserve Bank of St. Louis

N

orthw estern

B

anker

THE OLDEST FINANCIAL JOURNAL W EST OF THE MISSISSIPPI RIVER
Published Monthly by
THE NORTH W ESTERN BANKER
PUBLISHING COMPANY
709-710 Crocker Building
DES MOINES
::
IO W A

I

Clifford De Puy
Publisher

A U G U S T , 1915

MINNEAPOLIS
Hennepin Avenue and Fifth Street
CHICAGO
122 South Michigan Boulevard
N E W YORK
225 Fifth Avenue

___________________
____________________________________________________________________
$ 2.00
la w s; everything else pertaining to the journal being strictly F IR S T class

(
|
^

I

—

—
YOUR VACATION
Too many bankers work unceasingly until middle age, endeavoring to acquire a fortune.
If this is accomplished at the expense of good health, they generally spend the balance of their
years, and frequently a large part of their fortunes, attempting to regain their normal physical
condition. Take your vacation now, this year and every year, whether it is for a week or a
month. We have this human engine geared up to ninety miles an hour most of the time, and
the engine needs a chance to relax and rest up, at least for a short while once a year. Your
vacation will make you a better man, a better banker, and a better citizen.
THE COST?
C[ The cost of one year of the most terrible war the world has ever known cannot be estimated,
statistics and statisticians notwithstanding. I know they have placed a conservative estimate
at $25,000,000;000, for expenses, and 3,500,000 for men slain.
This means $68,500,000 per
day in money, and almost 10,000 per day in men. As a matter of fact historians will probably
never know or be able to ascertain what was the exact number of men killed. While the cost
in dollars is a sum so staggering as to be almost beyond our comprehension, the real loss, and
one which cannot be computed on any scales or by any rules of mathematics, is the loss in brains
and genius; the loss in science, literature, art and invention which was possessed by those now
dead. This lost potential energy can never be replaced. How many men with the embryo
genius of a Tolstoi, Dickens, Goethe, Gladstone, Hugo, or Rothschild, are numbered among
those who have given their life blood upon the altar of war, the world will never know. When
the final settlement of peace does come, it can never by any treaty pay for the loss of life or
bring back one single thought or idea in the mind of some man whose name might have been
written large upon the pages of history, and whose genius and ability perhaps would have
brought help and happiness to a restless world. The cost of war cannot be measured by dol­
lars alone.
TEACHERS OF THRIFT
C. Today, more than ever before, the people of the nation need to be taught the habit of
saving. It is up to you to help carry on this campaign. There is no other business to my
knowledge, outside of banking, that urges people to save their money— all others say spend
and buy. In fact, I believe that one of the greatest foundation rocks of banking is the prin­
ciple of saving, and yet how hard it seems to be to impress upon the young men and women
that the greatest asset they can have, outside of living clean lives, is to have a bank account.
The future prosperity of this country depends upon the individual savings accounts
of the people. The present war in Europe has been financed to a large degree by the
common people, the peasants of the various contending nations. These people have been
taught frugality and self-sacrifice, in order to save something, to add to their surplus. The
people of the United States need to be taught the same thing. As a nation, we are spenders, *
not savers. The next months and years will be the most important that the world has ever
experienced— the most important ever|faced by our country. The loss of $68,500,000 per day

S88S8888S8SSS888888888S8888S88SSSSm\*88SSSSS888S8§S8SS^^

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

^

*

I

b y the fighting countries of Europe will have to be met, not only by them, but each one of us
will have to share indirectly in such a terrific destruction of life and property. Whether we
remain at peace with the world or are drawn into this maddening whirlpool of bullets and
blood the backbone of our country’s success must depend on the nation’s wealth. The country’s
resources. There is no other class of business men who can teach the spirit of saving with such
a degree of success as you can. It is part of your business. The merchant is offering bargain
sales to attract the people’s money into his cash register. As a banker you should urge and
advertise more than ever before the value to the individual of his own savings account. It
is.uP«.to y °u- More than ever must we depend upon the bankers behind the desks rather than
the men behind the guns for the future welfare of the country.
ARE BANKERS PESSIMISTS?

t

<1 I put the question up to you; “ Are bankers pessimists?” I do so for your answer may be
different from mine. The general manager and vice-president of a large corporation said to
me the other day,
‘Why is it that bankers are so pessimistic? They always seem to
look on the dark side of everything. Our business causes us to use several banks for the
transaction of our affairs, and just recently the president of our company and myself approached
the cashier of one of these institutions and in the course of our conversation suggested that we
would like to increase a certain loan that we had with the bank. Immediately the cashier
started in to tell us all. the woeful things about present financial conditions. In fact, it seems
that in sunshine or rain, in war or peace, the average banker is a pessimist, at least he gives that
impression.” You probably won’t agree with this statement, but there is a grain of truth in it.
I believe at heart that every banker is a true optimist, that he is desirous of promoting and
developing the best interests of his community and his customers, but because of the fact that
he is doing business with other people’s money he is, as a rule, very conservative, and this is
not a fault, but in his eagerness to be careful and conservative in the management of the bank’s
business he should also avoid giving the impression that he is in any way a pessimist. I agree
with the statement of the business man above quoted that there are some bankers who give the
impression that they are sour on the world, and that the sun will never shine, but they are the
exception rather than the rule. You know we sometimes find people who are happy at heart
but for some reason this feeling does not find expression on their countenance and in what they
say, and if for any reason you should ever come within this classification, remember that a
smile is better than a frown, and although you cannot grant a man the loan he requests you
can send him away with a good impression of you and your bank by making him feel that you
are his friend and personal adviser rather than an old grouchy Mr. Moneybags who always
views the world through a pair of blue glasses. There are such things as pessimists but they
have no place in the banking profession.

I

I

I
I

__________________________________________________________________________________________
‘A CASHIER’ S CHECK” For $2.00 is all that is required to se- A topicofinteresttothebankingfraternityandsubmitsameforpublicure the monthly visits 9f the Northwestern Banker for an entire / \ cation. You do not have to agree with us, or with anyone else,
year. Each issue contains from 56 to 64 pages of mighty inter« / \ We learn things by an interchange of ideas, and people with whom
esting matter pertaining to banks and banking interests in
we disagree often prove valuable teachers. We shall be glad
tlm_tere^oryj!overed by_tlm magazine.
to hear from you.
“ OUR CORRESPONDENTS” E v e r y b a n k in the
“ NO PROTEST” Has ever been offered to the state­
Northwest is invited to a place on this list. Send us
ment that the field covered by the Northwestern Banker
items of local interest, tell us about your bank and its
is the money-producing section of the American continent,
growth, prospects, etc., also any other financial news of
rich in hogs, cattle, corn, etc., and dotted with thou­
interest to bankers in your section. We are always
sands of prosperous banks, all doing a good business,
glad to hear from our friends.
and thè majority of them are readers of “ The North­
“ SIGHT DRAFTS” We always carry a large “ Re­
western.”
serve” o f good will and additional service, and will
“ SURPLUS AND UNDIVIDED PROFITS” Increase
promptly honor drafts made upon same by any bank.
very rapidly with those banks, whose advertisements
This department is for your special benefit. It may
appear regularly in the columns of this magazine.
be made of very great benefit to your bank. Do not
Full information as to rates and our special service
fail to avail yourself of its privileges.
will be promptly furnished on application Your
“ A CLEARING HOUSE” Our columns are a clear­
business solicited and appreciated. The “ Banker”
ing house for all our readers. Express your views on any
has been nineteen years in its present field.

I


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Federal Reserve Bank of St. Louis

THE

12

NORTHWESTERN

August, 1915

BANKER

Personal Paragraphs
Sol Wexler, president of the Whitney-Central Na­ J. C. Jones. He was appointed assistant city counselor
tional Bank, of New Orleans, is being urged by many under Mayor Wells, in 1907, and after the election of
of his friends to become a candidate for the office of Mayor Kreisman, was promoted to the position of
vice-president of the American Bankers Association, associate city counselor in 1910. He completed his
at the Seattle meeting. Mr. Wexler has always been term in 1911, and since then has engaged in the inde­
a very active worker in the affairs of the Association, pendent practive of law with offices in the Rialto
and his record as a member of the Currency Commis­ Building.
$----- $---- -$
sion, together with his record in his own community as
F. B. Mumford, Dean of the University of Wisconsin,
a constructive banker and citizen, speak for themselves.
in speaking before the Banker-Farmer conference at
$--------- $--------- ?
A. H. Roudebush, counsel for the Civic League and Chicago, said: “ Bankers are peculiarly well situated
former associate city counselor, was elected assistant to help in advancing the cause of better agriculture.
trust officer of the Mississippi Valley Trust Company, In the Middle West, many bankers are also farmers and
of St. Louis, at the regular meeting of its board of di­ have an intimate knowledge of local agricultural condi­
rectors, held recently. Mr. Roudebush succeeds W il­ tions. They bear an even more important relation to
liam McChesney Martin, who became a vice-president the development of this industry as they hold in their
of the company in February, 1914, and has since been hands the power to furnish the capital by means of
appointed chairman of the board of the Federal Re­ which only can better methods be inaugurated. One of
serve Bank of St. Louis. Born in New Orleans, and the most important steps which must be promptly
graduated from the University of Mississippi, in 1894, taken by the average farmer of the Middle West is the
Mr. Roudebush came to St. Louis in 1896, and gradu­ purchase and application of fertilizers to be used along
ated in law at Washington University in 1900. In 1901 with a rational rotation. The intelligent use of fer­
he entered the practice of law with the firm ofW .C . and tilizers will increase farm profits and benefit directly*
the individual farmer, but fertilizers cannot be pur­
chased without money, and money cannot be secured
except through the bankers.”

Secured Merchants1 Notes
We can offer paper possessing the following features:
Makers long established and well rated.
Amounts of $1000 to $5000; time four or six months.
Discount rate 6 per cent to 7 per cent.
Notes secured by customers’ notes at margin of 50
per cent or more taken for the sale of merchandise to
retail customers.
Deposits of collections made in New York exchange
■weekly or semi-monthly, equal to average deposit (not
subject to check) of 20 per cent or more.
Send for Circular S. N. and list of offerings.

W M . A . L A M S O N & CO .
Established 1904
60 W all Street


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Federal Reserve Bank of St. Louis

Com m ercial Paper
N e w Y o rk

$

—

—

$--------$

F. W. Ellsworth, publicity manager of the Guaranty
Trust Company, of New York, has just sent out a very
interesting little booklet, entitled, “ Guaranty Service,”
showing a series of newspaper advertisements now
running in the New York dailies, the results from
which have been very gratifying. If you have not re­
ceived a copy of the booklet, just drop a card to Fred,
and he will do the rest.
$ ----- $ ----- $

The Rhodes-Overstreet Company, of Omaha, Neb.,
of which Walter H. Rhodes is president and John W.
Overstreet secretary-treasurer, have been having a very
good inquiry for banks and the following sales have
recently been made by them: Farmers State Bank,
Rising City, Neb., to A. R. Brock, of Blair; Peoples
Savings Bank, Nevada, Iowa, to H. G. Van Orsdel, of

THE

August, 1915

NORTHWESTERN

State Center; Merchants Bank of Utica, Neb., to W .‘
A. Snare, of Shickley; Farmers State Bank of Springfield, Neb., to Frank R. Beebe, of Stanton; The Harlan
National Bank, of Harlan, Iowa, to F. W . Ouren, of
Council Bluffs, and W . J. Lewis, of Rising City; The
Aurora National Bank, of Aurora, Neb., to C. C. Han­
sen, of Grand Island, who in turn sold the bank to the
Fidelity National, of Aurora, with whom the Aurora
National will be consolidated. The Rhodes-Overstreet
Company believe in obtaining results and from the
above-record of recent sales it is evident they know
how to do so. The boys say they can’t see a vacation
in sight this summer.

Guaranty Service
XI
O u r L o n d o n O ffice

Our foreign office, at 33 Lombard St.,
E. C., London, England, is equipped to
satisfactorily handle banking business
between the United States and Great
Britain or the continental countries.
The London Office accepts deposits
subject to check, makes loans, issues
commercial and travelers letters of credit,
acts as fiscal agent, buys and sells foreign
drafts and bills of exchange, and extends
its facilities and courtesies to American
tourists.

$-----$------$

W . S. Weld, superintendent of agents for the Berk­
shire Life Insurance Company, of Pittsfield, Mass.,
was in Des Moines recently, and has now established
an office in this city for that well-known Company. The
business in this state will be handled by E. D. Bream.
The Company already has over $20,000,000 of insurance
in force, and a surplus of $758,000. With such a firm
foundation it will not be surprising to see this Com­
pany make rapid progress in this new and fertile terri­
tory.

Banks and bankers engaged in inter­
national business are invited to make use
of our London Office.

$ ----- $------------ $

The Marshalltown State Bank is planning to make
a challenge to any other bank baseball team in Iowa,
provided they (M. S.) win the pennant this season in
their home town. In a recent game they defeated the
First National 15 to 9, but this was only because the
pitcher for the First National was so speedy and had so
many fast curves that the catcher could not hold him.
Nevertheless the victors say that they could “ swat a
fly” whenever they desired, and for that reason carried
home the bacon. If your bank has a good team just ask
the Marshalltown State for a list of their open dates.
$----- $----- $'

F. D. Ball, cashier of the Iowa State Savings Bank,
Creston, Iowa, who has been prominently mentioned
for treasurer of the Iowa Bankers Association next
year, is a member of Group 9, and as they have never
had any representation on the roll of officers, it is ex­
pected that they will give strong endorsement to his
campaign. Mr. Ball has been for twenty-five years the
active head of his institution, which is one of the larg­
est in southwestern Iowa.
B. G. Smith, manager of the auditing department of
the Guaranty Trust Company, of New York, has been

Guaranty Trust Company
of New York
Capital and Surplus $ 3 0 ,0 0 0 ,0 0 0
Total Resources, over 3 0 0 ,0 0 0 ,0 0 0

made an officer of the Company, with the title of audi­
tor. Mr. Smith began his banking experience in 1901,
when he entered the employ of the Morton Trust Com­
pany, which in 1910 was merged with the Guaranty.
He has served in varous departments of the Company,
and since September, 1914, has been manager of the
auditing department.
$ ----- $ ----- $

War orders, according to Knauth-Nachod & Kuhne,
of New York, amount to at least $1,500,000,000. “ This
estimate,” they say, “ has been criticized in some quar­
ters as too small, so there is little doubt that it is con­
servative. A fact to remember is that very little of
this business has been actually delivered as yet. A
canvas recently made shows that deliveries cannot

BECAUSE OF THE MOVE

BECAUSE OF THE WAR
fro m M onroe to M an itow oc.

?ir«na« . ‘r“ Sor*ed an"i

BANKER

BECAUSE w e w ant m or® ^ s iLe.ss-rft^ i F l ^ e n a r ^ t S ^ v e ^ u r ^ T ^

Salaried ¿Untie, will enable us to give you better values than we

S
h
S
J
S
t t X t h S ? PK ,i,r | T l,3 D A & D or SPECIAL.
C IBLE” m akes it— and m akes it RIG H T.
F rom this tim e on our SLOGAN w ill he:

“ M ORE F O R T H E M O N EY T H A N YOU CAN B U Y E L S E W H E R E .
T H I R T Y D A Y S ’ F R E E T R I A L .”

I f It Is made o f ST E E L the "IN V IN -

E V E R Y T H IN G

S H IP P E D

ON

APPROVAL

INVINCIBLE METAL FURNITURE COMPANY
MANITOWOC, W IS .

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Federal Reserve Bank of St. Louis

AND

14

THE

NORTHWESTERN

CORN EXCHANGE
NATIONAL BANK
OF CHICAGO
C a p i t a l ..........................$ 3,000,000
S u r p lu s ..........................
5,000,000
U ndivided P roiits . .
1,500,000
D e p o s i t s .....................
60,000,000

BANKER

August, 1915

reach full headway before September or October. It is
clear, therefore, that unless the foreign governments
interested, succeed in obtaining very heavy credit bal­
ances in this market, on which to draw in paying for
supplies as the contracts are filled, foreign exchange
rates must seek a much lower level.”
$ ----- $ ----- $

W . B. Hughes, secretary of the Nebraska Bankers
Association, has announced the dates for their annual
state convention as October 27 and 28 at Omaha.
“ W e have been prevented,” says Mr. Hughes,-“ many
times from securing speakers we wanted because our
conventions have usually occurred in the month of
September and a great many of the men we would like
to hear at our sessions take their vacations during
September and give that as an excuse for not accept­
ing our invitation. This year, with our convention
near the end of October, we should not encounter this
difficulty and consequently hope to have an exception­
ally impressive list of speakers. Now if every bank
in the state will figure upon having at least one repre­
sentative present it will please both the officers and
Council of the Bankers Association, as well as the
bankers of Omaha and South Omaha.”
R.
W. Walters, secretary and manager of the Charles
E. Walters Company, of Council Bluffs, Portland and
Kansas City, was very highly honored recently by re­
ceiving an invitation from Governor W. S. Hammond,
of Minnesota, to meet him in St. Paul, and to join his
party in his special car on a Western trip, which would
include the Governor’s official visit to the Exposition
at San Francisco, and also stops at the Glacier National
Park, Spokane, Seattle, San Diego, Los Angeles, Salt
Lake City and many other cities. Mr. Walters was
also accompanied on the trip by his wife.
P. W. Hall, secretary of the Iowa Bankers Associa­
tion, has practically completed the convention proceed­
ings for this year, and they will probably be distributed
within a short time, bound with cloth covers. (Mr. Hall
is also endeavoring to secure pictures of all the ex­
presidents and ex-secretaries of the State Association,
inorderthat he may have these framed and placed in the
Association’s office. There have been thirty presidents
including this year, and two secretaries who have pre­
viously served the Association. The former secretaries
are J. E. Henriques, of Marshalltown, and J. M. Dinwiddie, of Cedar Rapids.

O FFICERS
E R N E S T A . H A M I L L , P re sid e n t
C H A R L E S L . H U T C H IN S O N , V ic e -P r e s id e n t
C H A U N C E Y J. B L A I R , V ic e -P r e s id e n t
D . A . M O U L T O N , V ic e -P r e s id e n t
B . C. S A M M O N S , V ic e -P r e s id e n t
F R A N K W . S M IT H , S e c re ta r y
J . E D W A R D M A A S S , C a sh ie r
J A M E S G . W A K E F I E L D , A s s is t a n t C a sh ie r
L E W I S E . G A R Y , A s s is t a n t C a sh ie r
E D W A R D F . S C H O E N E C K , A s s is t a n t C a sh ie r
D IR E C T O R S
CHARLES H . W A C K E R
M A R T IN A . R Y E R S O N
C H A U N C E Y J. B L A IR
E D W A R D B. BUTLER
CHARLES H . HULBURD
B E N J A M IN C A R P E N T E R
CLYDE M. CARR
W A T S O N F . B L A IR
E D W IN G. F O R E M A N
C H A R L E S L . H U T C H IN S O N
E D W A R D A . SH ED D
E R N E S T A . H A M IL L
F o r e ig n E x c h a n g e

L e tte r s o f C re d it

C a b le T r a n s fe r s

O ur fa c ilitie s f o r h a n d lin g th e a c c o u n ts o f N o r th ­
w e s te r n B a n k e r s a re u n e x c e lle d .


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Federal Reserve Bank of St. Louis

S. M. Leach, president of the Adel State Bank, is
being talked of as a candidate for president of the Iowa
Bankers Association next year, perhaps to keep com­
pany with Geo. S. Parker, of Sioux City, who already
has a running start. M. D. Gibbs, cashier of the Bank
of Northwestern Iowa, at Alton, and J. _H. McCord,
cashier of the Citizens National Bank of Spencer, are
also planning to toss their hats into the ring, it is un­
derstood. Mr. Leach believes that the state bankers
should have more representation in Association affairs,
inasmuch as there is a larger percentage of them in the
state than there are o f National Banks. No doubt this
will be one of the planks in his platform. In checking
over the list of former presidents, it will be found,
however, that out of thirty-two bankers, about fourteen
of them have been National bankers, with the balance
either State or private bankers, so that this office has
been fairly well distributed between both groups.

August, 1915

THE

NORTHWESTERN

BANKER

15

THE C ITY NATIONAL BANK
OF CLINTON, IO W A

Capital Surplus and Profits . . $290,000.00
D eposits . ................................... $2,920,000.00
OFFICERS
A. G. SMITH, President
G. M. CURTIS, Vice-President
A. C. SMITH, Vice-President and Cashier
A. W. HANSEN, Assistant Cashier
Accounts of Banks and Bankers received on most favorable terms.

Mortimer Blackburn, son of Harry T., Blackburn,
cashier of the Iowa National Bank of Des Moines, has
been appointed as a special representative for Knauth,
Nachod & Kuhne, of New York, and will spend the
balance of the summer traveling for them in Iowa be­
fore returning to college this fall.

$----- $— ---$
Henry Ford has been mentioned by some of his ad­
mirers as a candidate for President of the United
Stites. No doubt Henry would make a good President
if he was on the job, and if he would plan to have his
refunding coupons to Ford owners which amounted to
$15,000,000 this year, payable just previous to election

Correspondence invited.

time, we feel sure that there would be a large number
of votes cast in his favor. Incidentally, Iowa’s share
this year is $1,000,000.
$----- $----- $

John Wanamaker has suggested that the United
States buy Belgium from Germany for $100,000,000,000,
and then make a Christmas present of it to Belgium.
The entire wealth of the United States totals only
$187,000,000,000,
.that it would take some other
Santa Claus with* a bigger source of revenue than we
have to undertake such a deal even if it were feasible,
which it certainly is not. Anyway, John’s heart is in
the right place toward Belgium.

The most direct— therefore the most efficient and
economical method of handling transactions
at the Chicago live stock market
is thru an account with

The Live Stock

National

OF CHICAGO


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Federal Reserve Bank of St. Louis

Bank

THE

16

NORTHWESTERN

BANKER

August, 1915

THE CENTRAL STATE BANK
DES MOINES, IO W A

Capital $250,000.00 Surplus and Profits $250,000.00
OFFICERS
SIMON CASADY, President
H. B. HEDGE, Vice President
J. B. McDOUGAL, Ass’t Cashier
GRANT McPHERRIN, Cashier
FRANK C. ASH, Ass’t Cashier

REMEMBER OUR FOUR C A R D IN A L PRINCIPLES
Absolute Safety.
Courteous Treatment to All.
Consistent
V jU I lM a lC lu L
Liberality.
/1 U C I d l l l j •
Promptness
a l u m p i u t o n and
t t ll u Execution.
u a v v u v iv ìi.

«

I
m

change effected, early this month, in Muscatine bank­
ing circles, when S. M. Hughes, for years identified
with Iowa banking, resigned his position as cashier of
the First National Bank and retired to private life.
Mr. Hughes entered the banking business in 1884,
when he resigned as clerk of the District Court to ac­
cept the position of cashier with the Muscatine Sav­
ings Bank, which later became known as the First
Trust & Savings Bank. In late years, Mr. Hughes has
enjoyed the distinction of being the dean of Muscatine
active bankers. That his long years of service and his
efficient efforts were appreciated by the institution with
which he was connected, is plainly shown in the adop­
tion of resolutions of appreciation by the directors. The
bank will still have the benefit of his experience, how­
ever, as he will retain his place in the directorate.
The resignation of Mr. Hughes necessitated several
S. M. HUGHES RESIGNS AS CASHIER OF FIRST
other changes in the bank officiary, the office of active
NATIONAL BANK, MUSCATINE, IOWA.
Iowa bankers will be greatly interested to learn of a vice-president being created with R. K. Smith as the

Leo Stevens, president of the Century Savings Bank,
of Des Moines, has received the first complete set of
the Commemorative Coins of the Panama-Pacific Ex­
position. These were authorized by an act of Congress,
and struck off at the San Francisco mint. There are
five coins in all, ranging in face value from a silver
half-dollar to a $50 gold piece, and a $50 gold slug.
The coins sell at double their face value and the profit
on them goes to the exposition company. The com­
memorative coins include a silver half-dollar, a $1 gold
piece, a quarter eagle or $2.50 gold piece, and two
forms of a quintuple eagle or $50 gold piece, the first
ever authorized by the United States Government. One
of the quintuple eagles is round and the other is
octagonal in shape.

Continental and Commercial National Bank
OF CHICAGO

Capital, Surplus and Undivided Profits, $32,000,000
A rthu r R eyn olds . . . .V ice-P resid en t
R alph Van V ech ten . .V ice-P resid en t
Alex. R o b e rtso n ...........V ice-P resid en t
H erm an W a ld eck . . . .V ice-P resid en t
John C. C r a ft............... V ice-P resid en t

O F F IC E R S
GEORGE M. R E Y N O LD S.................P resident
Jam es R. C h a p m a n .. .V ice-P resid en t
W ilb er H a tte r y .................A ss’ t
H. E rskin e S m ith ............ A ss’ t
W m . T. B ru ck n e r. . . .V ice-P resid en t
W ilson W. L a m p e r t.. . .A ss’ t
N athaniel R. L o s c h ................... Cashier
Dan N o r m a n ..................... A ss’ t
John R. W a sh b u rn ...........A ss’ t Cashier
Geo. A. J a ck s o n ...............A ss’t
H arvey C. V e rn o n ...........A ss’ t Cashier
Geo. B. S m ith ...................A ss’ t Cashier

Cashier
Cashier
Cashier
Cashier
Cashier

Accounts of Banks, Bankers, Manufacturers, M erchants and Individuals Invited

Continental and Commercial Trust and Savings Bank
Capital, Surplus and Undivided Profits, $5,000,000
Trust, Savings and Bond Departments
O F F IC E R S
G eorge M. R e y n o ld s .,..............................President
John Jay A b b o t t . . . . .V ice-P resid en t
F ran k H. J o n e s..................... Secretary
g e n r y C. O ^ o t t . . . .M gr B ond D ept
A rthur R e y n o ld s .........V ice-P resid en t
W m . P. K o p f ................A ss’ t S ecretary
R ob ert J H e r c o c k .........
Charles C. W ills o n ................... Cashier
A lb ert S. M a rtin .............A s s t Cashier
The Capital S tock o f this bank ($3.000,000) and the Capital S tock o f the Hibernian Banking Association ($2,000,000) are
ow ned b y the Stockholders o f the Continental and Com mercial National Bank o f Chicago.


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Federal Reserve Bank of St. Louis

August, 1915

THE

NORTHWESTERN

17

BA N K E R

Cattle Loans for Investment

Knorpp Cattle Loan Co
Live Stock Exchange Bldg.

Kansas City, Mo.
first incumbent. He will have active supervision of the
First National and First Trust & Savings Bank, as the
allied institutions will hereafter be known. This closer
union of the two banks results in a very strong finan­
cial institution. Their combined capital, surplus and
undivided profits aggregate $423,409.25; combined as­
sets $2,764,786.67 and combined deposits $2,266,877.42.
Mr. Hughes is succeeded as cashier of the First Na­
tional by T. C. Clark; B. C. Benham succeeds Mr.
Smith as cashier of the First Trust & Savings Bank;
Arthur Steinmetz has been named assistant cashier of
the First National and Edward Schroeder promoted to
the position of teller.
CHEROKEE

Home of the Cherokee State Bank
Cherokee, Iowa

dian mahogany and the counters and wainscoting are
of English veined Italian marble with bronze grills.
The officers of the Cherokee State Bank are E. D.
Huxford, president; J. H. Groves, vice-president and
George Brummer, cashier.

» t « :i i i i i i i i i i i i c :i i i i i i i i i i i i c :i i i i i i i i i i i i c :i i i i i i i i i i i i c 2 i i i i i i i i i i i i c :i i i i i i i i i i i i c :i i i i i i i i i i i i E : i i i i i i i i i i i i C 2 i i i i i i i i i i i i c i i i i i i i i i i i i i C 3 i i i i i M i i i i i c :i i i i i i i i i i i i c i i i i i i i i i i i i i c 3 i i i i i i i i i i i i c : i i i i i i i i i i i i C 2 i i i i i i i i i i i i c 2 i i i i i i i i i i i i c :i i i i i i i m i i c : i i i i i i i i i i i i c :i i i i i i i u i i i c : i i i ! i i i

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STATE BANK HAS ELEGANT
NEW HOME.
The new Cherokee State Bank building, Cherokee,
Iowa, is of reinforced concrete fire-proof construction
throughout, two stories in height, the entire main floor
being occupied by the bank, with suites of offices on
the second floor.
The base of the building above the sidewalk line is
of polished grey New Hampshire granite, the sills, pil­
asters and pediments of the two entrances being of the
same material. Above this course the walls are of
rough texture dark brick, known as Greendale Rug.
with cornice and trim of white glazed terra cotta. AD
of the floors and roof of this building are composed of
tile and steel reinforced concrete.
The main entrance to the building is through a cor­
ridor lined with English veined Italian marble to the
main banking room. The interior trim is of East In­

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Federal Reserve Bank of St. Louis

18

THE

NORTHWESTERN

BANKER

August, 1915

The Man Behind the Counter
By Geo. T . McCandless
Every bank officer should read this article, and then see
The success of nearly
will seldom rise to a high­
that each employe in his bank does the same. It is help­
every bank as well as any
er position. The book­
ful and inspiring, and up to the usual high standard of such
other business is due to a
keeper in the bank who
contributions to TH E NORTHW ESTERN BANKER. This
large extent to the ability,
sentence should be placed over every employe's desk:
is unwilling to leave his
“ Make up your mind you aren’t always going to be a clerk
industry and integrity of
books although the teller
or
bookkeeper,
but
while
you
are
occupying
that
position
its employees. A one-man
may be rushed off his feet
determine that you are going to be the best bookkeeper
business is a thing of the
that bank ever had and you will find that the ‘old man’
and customers impatiently
past and a great deal of
won’t overlook you when promotions come.”
waiting to be served and
trust must be given to the employed.
who cannot let his work wait and cheerfully jump down
In European countries a boy, on leaving school, gets from his stool, take a deposit, cash a check or answer
a letter from his teachers testifying as to his fitness the telephone, will likely continue to be a bookkeeper
and general qualifications. When the boy leaves an so long as he does his work sufficiently well in that
employer he gets a letter of recommendation from him capacity.
and no man or woman can hope to get any kind of a
Every employee in a bank should realize that books
position without letters of this nature.
can wait better than customers. The ledgers can be
In our country references are sometimes asked for, worked on and letters can be written when there are
but as a rule employment is given without much atten­ no customers in the bank. The public is not vastly
tion to this detail. As a result we find many more interested in whether the clerical work of the bank is
instances of misplaced confidence than they do in the right up to the minute; the public wants service and
old country. Large bonding companies have been built it wants it promptly.
up whose sole source of income is from premiums paid
No greater compliment can be paid a customer than
by business men to insure the honesty of employees.
prompt service; it is as much of a drawing card to a
There is hardly a bank in the United States now which bank as handsome quarters. When I was running a
does not have its officers and employees furnish surety little bank and doing all the work myself, janitor work,
bonds. In the cities the banks require these from every book work, teller work and looking after all the loans,
employee, the bank paying the premium.
I used to get over to the bank sometimes as early as
If some sort of company could be formed to pfotect seven o’clock, have my ledgers written up, pass-books
business from inefficiency and incompetency it would all balanced and the counters cleared for the day when
have a large field in which to operate. Financial losses nine o clock rolled around. A good many of my cus­
of a direct nature, such as defalcations, are pretty well tomers asked me when I did my book work and told me
covered but insurance against losses resulting from when I was away on my vacation it took two people to
other faults of employees has not been discovered run the bank and they seemed to be tolerably busy all
as yet.
day with the books. One old farmer said to me, “ I like
One^ failing of young America is too much looking to come in here because you always seem to have
for a “ snap.” The young man first entering business plenty of time to visit and don’t make me feel that I
sees the older man sitting in a cozy office and imagines am imposing on you or keeping you from your work.”
the boss is not doing as much work as the clerks and Incidentally I may say that farmer maintained a fourhe longs to reach this position without the preliminary figure balance with the bank and his was one of our
steps necessary. He doesn’t realize that the old man most profitable accounts, checked on about twice a year
has had to climb to his present position over many and pass-book balanced annually; every banker knows
obstacles and after years of growth and preparation. the desirability of such accounts.
'He views it too much as we do the moving picture
If a bank can establish the reputation for giving
shows where we see the boy in his childhood. Then prompt and cheerful service to its patrons it has done
the line is thrown on the screen entitled “ Several years one of the surest things toward its permanent success
later” and we see the boy occupying a chair as manager and promptness is as necessary as cheerfulness; all the
in some large office. The interim is left to our imag­ cheer inside the window isn’t going to make the cus­
inations.
tomer forget that he warmed his shins for several
When you see a man holding down a big job you can unnecessary minutes before he got waited on.
make up your mind he is a big man. While some have
In the large department stores they have handsome,
been able to step into father’s boots the majority of affable floor-walkers to direct people to the depart­
men holding responsible positions in the business world ments where their wants may be supplied, but the
have earned them through honest; capable service.
good looks and affability of the floor-walker will not
W e often hear this expression, “ I wish I had his cool the warmth under the customer’s collar if he is
snap,” or, “ He sure has a soft job, gets a big salary obliged to wait for two gum-chewing girls to finish
and doesn’t have to work nearly so hard as his stenog­ their conversation about last night’s dance before one
raphers.” This viewpoint causes dissatisfaction and of them finally and haughtily condescends to wait on
from it springs the tendency to hold onto a job and him.
plan to “just get by with it.”
I know of nothing which will instill the spirit in
The employee who does his own stipulated work and
employees of giving prompt, cheerful service to the
no more, who starts work when the whistle blows and
public and full time to the employer other than the
stops when the whistle blows, and who does not work
reward of promotion to more responsible positions.
a minute longer although he might complete a task,
The employee with vision is the one who will

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Federal Reserve Bank of St. Louis

August, 1915

THE

NORTHWESTERN

BANKER

19

eventually arrive. Every employee is either an asset building will be erected on a prominent corner and will
or a liability to his firm.
face the court house square.
Ty Cobb gets a big salary not only because he plays
P. J. Cilley, cashier of the Farmers Savings Bank at
the game, all the time, the best he knows how, but
because he increases the gate receipts and by the same Hamburg, Iowa, is the president of the bank.
token he increases the gate receipts because he always
The Lytle company of Sioux City, Iowa, will design,
plays the game.
erect
and furnish the building. The plans are now be­
So to every bank clerk I would say “ Play the game,
ing
completed
and construction work will start in a few
all the time, the best you know h ow ; take as much
interest in your employer’s business as you would like days.
your clerks to take in
your business if you
had one, and you will
not be overlooked when
the move-ups come or
officers are changed.
You will bring to
your bank a large per­
sonal following if you,
as an employee, have
always worked to be
prompt, cheerful and
obliging to the bank’s
customers.
In this day of stiff
competition it isn’t al­
ways the prettiest bank
that attracts the public
and holds it but the
b a n k w h i c h gives
prompt, cheerful and
dependable service.
The boss depends on
his employees to see
that the public receives
this kind of service in
exchange for their ac­
counts. Make up your
mind you aren’t always
For the selfish purpose of selling more
You want the business men in your
going to be a clerk or
bookkeeper but while community to become better business men. adding machines, we are striving to banish
you are occupying that Better business will result in larger de­ guesswork.
A new Burroughs has been announced; it is
position determine that posits, greater financial activity, safer
designed especially to meet the figuring needs
you are going to be the
of the small retailer. This Burroughs Visible
best bookkeeper that credits.
Exact records o f every transaction, such has a totaling capacity of six figures and lists
bank ever had and you
will find that the “ old as you keep, are just as essential to the success five figures. The price of this new Burroughs
man” won’t overlook of the retail merchant as they are to your own. is $125; in Canada, $165.
But the retailer, especially the small retailer,
you when promotions
The use of a Burroughs will help to makecome.
feels perhaps that he cannot afford to employ the merchants in your community better
Remember this, to a bookkeeper or spare enough of his own time
business men, able to plan ahead more intel­
the public whom you to get the figures that would give him an in­
ligently
and to base their decisions on facts
serve you are the bank,
telligent grasp of his business.
instead
of
suppositions.
and that no institution
As
a
result
he
guesses
that
his
business
is
in
We
are
confident that we have your moral
is greater than its least
good shape; he guesses at his cost of doing support in our efforts to stimulate the. retailer’s
representative.
business, and guesses he is making a profit. desire to know more about his business.
FREMONT COUNTY
SAVINGS
BANK,
SIDNEY, I O W A ,
TO HAVE N E W
BUILDING.
The Fremont County
Savings Bank, at Sid­
ney, Iowa, is to have a
fine new brick and terra
cotta bank building of a D e t r o i t f i f i c J u 'g a n
O ffic e s i n 1 7 0 C it ie s
unique design. The new

Better Business Men Make Better Depositors

Burroughs


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Federal Reserve Bank of St. Louis

THE

20

Farm

NORTHWESTERN

Mortgage

BANKER

August, 1915

Department

In this department the various phases of the Farm Mort­
gage business are discussed, as it is our desire to bring to
you all the helpful suggestions and ideas possible along this
line. We shall be glad to have you ask any questions con­
cerning Farm Mortgages that may be puzzling you. Also
we shall be glad to have you express your opinions on any
particular subject along this line in which you are inter­
ested. Address your letters to “ Farm Mortgages,” North­
western Banker, Oes Moines, Iowa.

How Wisconsin Bankers
Are Handling Farm
Mortgages.
T h e following letter
was written to The North­
western Banker by Geo.
D. Bartlett, Secretarytreasurer of the Wisconsin
Bankers Association and shows what they are doing
to make the farm mortgage business in that state more
popular, and how they organized a company to accom­
plish this purpose.
“ W e have read with much interest various articles in
your Farm Mortgage Department and are submitting
to you herewith information regarding the Wisconsin
Mortgage & Securities Company. This Company was
organized and incorporated a little over a year ago by
sixty prominent country bankers of Wisconsin.
“ The object of this Company is to make loans upon
improved or partly improved Wisconsin farms in
amounts not exceeding 50 per cent of the actual value
of mortgaged premises. To date the average loan has
not been over 37 per cent based upon consérvative
appraisal.
“ Wherever possible, loans are taken through the
country banker in the immediate vicinity of the prop­
erty. However a few loans have been made directly to
owners in sections where no banker is convenient.
Applications for loans are made through the country
banker and passed upon by our loan'committee. If ac­
cepted papers are executed and the loan completed and
paid for. At the time the loan is purchased the bank
through which the mortgage is bought signs an agree­
ment that provides that such mortgage will be repur­
chased or substituted by a satisfactory security within
six months if the Inspection Committee deems the
property as insufficient for the amount of the loan.
“ In this way accurate information is obtained when
applications are submitted and eliminates the necessity
for immediate inspection. When a number of mort­
gages have been purchased in neighboring communities
the Inspection Committee, made up of from three to
five Wisconsin country bankers chosen on account of
their experience in the farm mortgage business, go out
and inspect the entire lot at one time and in this way
keep the expense at a minimum. W e have purchased
upwards to $400,000 of mortgages since the organiza­
tion of the company and but two small mortgages have
JAS. P. M ARTIN. Vice-President
F. E. GILL, Vice-President

been recommended by the
Inspection Committee for
withdrawal, thus demons
strating the accuracy at­
tained by this system in
valuing properties and the
elimination of poor ap­
plications.
“All mortgages purchased by this Company are de­
posited with the Wisconsin Trust Company as col­
lateral for our Farm Mortgage Gold bonds which we
issue in denominations of $100, $500 and $1,000. These
bonds are issued for a term of five years and bear semi­
annual interest. Three issues have been made since
the organization of the Company. Series A and B for
$100,000 each and at present we are working on Series
C of $200,000 issue which is now selling.
“ Orders for bonds have exceeded by several thousand
dollars the amount of mortgages purchased and de­
posited at all times since the first issue was offered for
sale. Wisconsin bankers best acquainted with the
working of this company and the personnel have been
the heaviest buyers. Several probate judges in this
state have recommended them for trust funds and on
the whole the work of this Company has been very
satisfactory and encouraging.
“ The mortgages taken have been distributed over
several counties in the state, making the security more
desirable, also over half of the mortgages are located
in counties in the southern part of the state, which is
more highly developed than the northern half on the
whole.”
PAUL D. SWENEY ELECTED ASSISTANT
CASHIER OF MITCHELL CO. SAVINGS
BANK, OSAGE, IOWA.
Paul D. Sweney has recently been elected assistant
cashier of the Mitchell County Savings Bank of Osage,
Iowa. For several years he was employed in the larg­
est general store in Butte, Montana, as credit man and
two years ago he returned to Osage, where he worked
as bookkeeper in the Mitchell County Savings Bank
until his recent well deserved promotion of assistant
cashier of that same institution.
J. I. Sweney is president; H. L. Stoughton, vicepresident, and M. C. Sweney, cashier.

T. F. H ARRING TO N, President

W . G DUNKLE. Cashier
R. NASH, Ass’t Cashier

CONTINENTAL N ATIO N AL B A N K
SIOUX CITY, IO W A

Capital $100,000.00

Surplus $10,000.00

W c know that our experience, know ledge, ability, system ,
organization, modern methods and energy w ould w ork great­
ly to your benefit if you give us the opportunity to serve you.
DIRECTORS
T . F. H ARRING TO N
J. P. MULHALL
JAMES P. M ARTIN


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Federal Reserve Bank of St. Louis

M. KASS
F, E. GILL
A. J. MORE

m . F. M cD o w e l l
C. F, GREEN
W . G. DUNKLE

August, 1915

THE

NORTHWESTERN

BANKER

21

•I«2IIIIIIIIUIIC:illlllllllllC:illlllllll!IC:illlllllllllC3lllllllllllli;2IIIIIIIIIIIIC:illlllllllllC3IIIIIIIIIIIIC3IIIIIIIIIIIIC2llll!!lllllinilllllllllllCIIIIIIIIIIIIIC3llllllllllllC3lllllllllllinilllllllllllC3IIIIIIIIIIIIC3IIIIIIIIIIIIC2IIIIIIIIIIIIC31IIIIIIIIIIIC3llllllllllllC3IIIIIIIIIIIIC»;«

FARM LOANS WANTED
i
I
I

We have a large amount of money to lend on Iowa farms on advantageous terms and at lowest
rates. We want regular connections in many Iowa counties, with a view to securing a steady volume
of good loans.
Write us for terms and tell us what you have.

The Leavitt & Johnson Trust Company
WATERLOO, IOWA
Emmons Johnson, Pres.
E. L. Johnson, Vice-Pres.

i

Carleton Sias, Vice-Pres.
C. R. Davis, Sec’y.

Capital
. . .
Surplus and Profits

-

Geo. W . Williams, Ass’t Sec’y.
W . C. Logan, Treas.

$150,000.00
200,000.00

I

& m iiH iiiiin iiiiiiiiii!o iiiiiiiiiii:2 iiiiiiiiiiio iiiiiiiiiio iiiiiiiiiio iiiiiiiiiio iiiiiiiiiii[3 iiiiiiiiiiio iiiiiiiiiio iiiiM iiiio iiii!iiiiiiu iiiiiiiiiiio n ^

THE OLD BAND.
It’s mighty good to git back to the old town, shore,
Considerin’ I’ve be’n away twenty year’ and more.
Sence I pioved then to Kansas, of course I see a change,
A-comin’ ''back, and notice things that’s new to me and strange;
Especially at evening when yer new bandfellers meet,
In fancy uniforms and all, and play out on the street—
. . . What’s come of old Bill Lindsey and the saxhorn fellers
— say?
I want to hear the OLD band play.
What’S' come of Eastman and Nat Snow? And where’s War
Barnnett at?
And Nate and Bony Meek; Bill Hart; Tom Richa’son and that
Air brother of him played the drum as twic’t as big as Jim;
And old Hi Kerns, the carpenter— say, what’s become o’ him?
I make no doubt yer NEW band now’s a competenter band,
And plays their music more by note than what they play by
hand,
And stylisher and grander tunes; but somehow—anyway,
I Want to hear the OLD band play.
Sich tunes as “ John Brown’s Body” and “ Sweet Alice,” don’t
you know;
And “ The Camels is A-comin’,” and “ John Anderson, my J o ;”
And a dozen others of ’em— “ Number Nine” and “ Number
’Leven”
Was favorites that fairly made a feller dream o’ heaven!
And when the boys ’ud saranade, I’ve laid so still in bed
I’ve even heerd the locus’ blossoms droppin’ on the shed
When “ Lily Dale” er “ Hazel Dell” had sobbed and died away—
I want to hear the ODD band play.

Yer NEW band ma’by beats it, but the OLD band’s what I
said—
It alius ’peared to kindo’ chord with somepin’ in my head;
And, whilse I’m no musicianer, when my blame’ eyes is jes
Nigh drowned out and Mem’ry squares her jaws and sorto’
says
She won’t ner never will fergit, I want to jes turn in
And take and light right out o’ here and git back W est ag’in
And stay there, when I git there, where I never haf to say
I want to hear the OLD band play.
— James Whitcomb Riley.

LOUIS F. KAVAR BECOMES CASHIER OF THE
FARMERS AND MERCHANTS SAVINGS
BANK, LIDDERDALE, IOWA. *
Louis F. Kavar has purchased the stock of R. C. Dobrusky, formerly cashier of the Farmers and Merchants
Savings Bank, Lidderdale, Iowa. Mr. Kavar was for­
merly with the Stanton National Bank, Stanton, Ne­
braska. Mr. Dobrusky has purchased an interest in the
Farmers Trust and Savings Bank at Dumont, Iowa.
Henry Sievers is the president and John Schleisman is
the vice-president of the Farmers and Merchants Sav­
ings Bank.
M.
K. Thornton, of Chicago, has accepted a position
as bookkeeper in the First National Bank, Hawarden,
Iowa.

TH E OLD BAND.
Perhaps you will not recognize the handsome young man marked (x) as the president of the largest nation­
al bank in Iowa, and candidate for membership on the Executive Council of the American Bankers Association
in 1916, but it is he, and we are pleased to introduce to you Homer A. Miller, president of the Iowa National
Bank, Des Moines, as he appeared in 1878, when a member of the Webster City band. Homer, as the boys
^ all called him then, is still very fond of music, although he uses a different variety of “notes” than when he
" used to toot the flute. The above poem we believe is very apropos. From left to right they are: Sal Derr,
' Chas. Hillen, Lou Beach, Ira Hunter, Frank Wilson, Frank McCracken, Darby Hunnberry, Frank Clarke, Jim
Fowler, Monte Hunter, Homer Miller, Ralph McCracken, not known, Dwight Hunter and Dave Conklin.


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Federal Reserve Bank of St. Louis

22

THE

Legal

NORTHWESTERN

O pinions

BANKER

and

August, 1915

D ecision s

This department contains each month excerpts from the
applied in payment when
: Banks as Collectors.
latest decisions on banking and commercial law carefully
presented, and the bank
The relation between
selected from recent decisions of the supreme courts of
afterward failed, such de­
tbe bank and the depositor
Iowa,- Nebraska, Minnesota, North and South Dakota, and
of a note for collection has
posit constitutes a com­
from other states when the decisions are of interest to
our subscribers. Questions of interest to bankers will be
plete defense to an action
been prolific of much liti­
discussed and ANY SUBSCRIBER has the privilege of
gation from year to year.
on the note, but this the­
writing for information and advice on any legal subject.
ory was subsequently re­
Many cases concerning
He will receive an immediate reply from our attorney
pudiated by the Supreme
this will still continue to
without any fee or expense. A complete trial brief of any
subject involving exhaustive research in a complete Law
Court of Iowa in the 105
arise but certain principles
Library will be furnished at any time for $10.00. In w rit­
Iowa, 356, which says that
have been pretty definitely
ing for information, kindly enclose a 2-cent stamp for
the
great weight of au­
established which it is
reply and address “ Legal Department” care The North­
thority is against this rule
'Well to bear in mind.
western Banker, Des Moines.
and that it is not well
Among these are the fol­
lowing. Where paper is deposited in the bank for founded in reason.
It would seem from the weight of authority that
collection, the relation between the depositor and the
bank is that of principal and agent until collection, but where a note is made payable at a bank on a certain
after the collection has been made the bank becomes day, that presentation of the note will authorize the
bank to pay, but as it has not been adjudicated in a
a depositor for the amount collected.
The making of a note payable at a certain bank has great number of states, and there is a difference of
been held in some jurisdictions to give authority to opinion, we would advise the banker not to pay unless
pay the note out of any funds that the maker might he had special authority. This at least will keep him
have on deposit in the bank when the note was pre­ on the safe side.
Of course the question will then arise, suppose a
sented. This is the law in England, where it is said
that the plaintiff by making the acceptance payable at man presented such a note for collection and the
banker refused to pay the same although there were
a certain bank merely authorizes them to pay it.
One of the greatest English authorities, “ Byles on funds in the bank sufficient to meet it, if the funds were
Bills,” says that where a note is made negotiable at a subsequently withdrawn by the maker of the note, we
bank, the maker authorizes the bank to pay it out of are inclined to believe that the bank would be held
his funds on deposit, or by advancing the amount to his liable for having refused to honor the note; so it pre­
credit. A recent New York case says that a note pay­ sents an interesting situation which, in view of the
able at a bank where the maker keeps hi’s accounts is conflict of authorities, each must decide for himself.
The fact that notes are payable at a bank does not
equivalent to a check drawn by him upon that bank,
except that in case of the note, the failure to present of itself, in the absence of the notes, authorize the bank
for payment does riot discharge the maker. (See 80 to collect anything thereon before maturity.
N. Y. 106.)
A bank holding notes as collateral to be sent to the
On the contrary the state of Illinois takes a directly debtor bank for collection and payable at a certain date
opposite view and holds that although the maker may need not have the note in the hands of the collecting
have funds on deposit, the banker has no authority to bank before the date fixed for payment.
ap'ply these funds to pay the note at maturity without
Where a bank secured its indebtedness to another
being so ordered by the maker, verbally or by check, bank by putting up as collateral notes signed by its
draft, or other writing.
customers and payable at the debtor bank the course of
The New York doctrine has been hinted at in the business was that when a note came due or was to
State of Iowa. (See Lazier vs. Horan, 55 Iowa, 75.)
be paid, it was sent for by the debtor bank and other
In that case it was held that where a note is made notes sent in exchange if necessary to protect the in­
payable at a bank and at its maturity the maker debtedness. The debtor bank collected certain notes
d ep o sits,.th fe . bank the amount of the note to be before they were due and while they were still in the

»

ABLACK HAWK
$
NATIONAL BANK
II

C APITAL A N D SURPLUS

250 ,000.00

II

DR. F. W. PO W ERS, P resident
CHAS. W . KNOOP, Cashier
H. E. RUGG, A sst. Cashier

“ The Bank of Stability and Progress”

A

A
II

Waterloo, Iowa ||

for reserve of banks is paid by this bank, which it is enabled to
safely pay by reason of its location in a thriving industrial center
|| Our organization and equipment embraces the latest and best methods of transacting all branches of the banking ||I
business. Correspondence or a personal interview with bankers solicited.

II3. PER CENT ON BALANCES
.--------------- ® -


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Federal Reserve Bank of St. Louis

August, 1915

THE

NORTHWESTERN

possession of the creditor bank. This was done with­
out any authority of the creditor bank. In a suit
against the maker of the note, who set up his payment
of the amount to the debtor bank, it was held that the
debtor bank had no authority to receive payment for
the note in the hands of the creditor bank. (105 Iowa,
349.)
When paper must be collected at a different place
from that in which the depository bank is situated, it
is its duty to forward the paper to an agent at the place
of presentment to make the collection. It is the duty
of the collecting bank to exercise reasonable skill and
diligence in obtaining payment of the paper, and caus­
ing presentment to be made, notice of dishonor to be
given, or to protest. For any loss resulting from its
failure to perform such duty the bank is liable. (91
N. W., 257.)
It is not the bank’s duty without instruction to bring
suit where payment is refused. (78 Iowa, 150.)
While banks sometimes make .charges for collection
it is sometimes undertaken without charge, the induce­
ment to the bank being the deposit that may result
from the collection and the advantages to be derived
from the business connection. In such cases the agency
is not gratuitous, or at any rate, the bank’s responsi­
bility is no less from the fact that no direct compensa­
tion is received. (5 U. S. Supreme Court Reports, 141.)
Renewal of Note—Bank’s Liability.
A recent decision of the Supreme Court of Nebraska
passes upon the following interesting situation. Dur­
ing the month of September, 1911, a certain firm was
engaged in business and borrowed money of a bank,
giving their promissory note for $1,500. This note be­

BANKER

23

came due and was unpaid. After giving the note, they
organized a corporation, but it appears that the indebt­
edness was contracted befoie the corporation' was or­
ganized, and therefore the corporation was not liable
for the individual debts.
In order to secure an extension or renewal of this
note of $1,500, they procured a friend who signed the
following agreement on the back of the note, “ We, the
undersigned, guarantee payment, waive démand, notice
and protest.” The bank now brings action against the
friend upon this guarantee. The friend alleges that
the cashier of the bank had represented to him that the
corporation was a prosperous, concern and that the
$1,500 represented by the,, note would be used exclu( Continued on page 25.)

IT’S OUR BUSINESS
to spare the tourist the annoyances of
ordinary railway travel. Our repre­
sentatives are travel experts and will
appreciate any opportunity to serve you

No Matter Where You Are Going
w e’ ll be glad to give you
our assistance

Rock Island Lines
HAL. S. RAY

401 Central Life Bldg.

DES MOINES, IOWA

NORTHWESTERN
NATIONAL BANK
I

MINNEAPOLIS, MINN.

E D W A R D W . D ECK ER . P r e s id e n t
JO S E P H C H A P M A N , V ic e -P r e s i d e n t
J A M E S A . L A T T A , V ic e -P r e s i d e n t
A L E X . V . O S T R O M , V ic e -P r e s i d e n t
W M . E. B R IG G S , V ic e -P r e s i d e n t
R O BER T E. M AC G R E G O R , C a s h ie r
S.

H . P L U M M E R , A s s is t a n t C a s h ie r

H. P . N E W C O M B , A s s is t a n t C a s h ie r
W . M . K O O N , A s s is t a n t C a s h ie r
H E N R Y J . R IL E Y , A s s is t a n t C a s h ie r

Total R esources $39,700,000


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Federal Reserve Bank of St. Louis

I

THE

24

NORTHWESTERN

BANKER

August, 1915

For Bankers and Their W ants
This department of TH E NORTHW ESTERN BANKER is
to assist SUBSCRIBERS in obtaining goods or service hard
to find, it is free. Use it. ASK US, as we can teli you
where to buy anything you need in your bank or for your
bank. T E L L US, as your “want” will be published under
the above heading free of charge.

HOW THIS DEPARTMENT GIVES YOU REAL
SERVICE.
This is a regular department of T H E N O RTH ­
W ESTERN BANKER, to assist subscribers in obtain­
ing goods or service hard to find. Institutions seeking
high-grade men and bankers seeking a better connec­
tion should T E L L US—as your “ want” will be pub­
lished under the above heading free of charge. It is
the direct route to securing the position or man you
desire.
ASK US, as we can tell you where to buy anything
you need in your bank or for your bank, including bank
fixtures, safe deposit boxes, vaults, metal furniture, the
service of bank architects and builders, typewriters,
adding machines, ledger and bookkeeping systems,
electric signs, advertising novelties, calendars, check
protecting machines, books on banking and banking
law, safety paper, lithographed checks and drafts, serv­
ice of certified accountants, advertising service, fidelity
and surety bonds, burglary insurance, life insurance,
electrical burglar alarms, accident insurance, phono­
graphs, dictating machines, the best service from city
banks and correspondents—in fact, ASK US about
anything you want to buy or any service you wish to
secure.
This is a complimentary service to our readers and
may be worth many times the price of a year’s sub­
scription to The Northwestern Banker.
W e will place you in communication with reliable
firms or expert service men, lay before you the infor­
mation we possess, or publish a blind advertisement
securing as many propositions as possible from re­
sponsible parties, without charge. Please enclose a
2-cent stamp for reply.
W A N T E D — Cashier with $6,000 to $10,000 for
Florida. Two cashiers with $7,0CK) to $10,000 for Cali­

fornia. The right man with $125,000 can secure control
of high-grade bank with over $1,000,000 deposits, lo­
cated in large western city. H. W . Long, 1005 Haas
Bldg., Los Angeles, Cal.
SAFETY DEPOSIT BOXES, _ one section of 46
boxes and one of 29. Good condition. Bargain. First
National Bank, Rockwell City, Iowa.
VAULT DOORS, safety deposit boxes, steel filing
devices. Specializing on vault equipments. My $2.60
safety deposit box can’t be beaten. Chas. Stayman,
Fort Dodge, Iowa. General Agent, Herring-HallMarvin Safe Co.
BANK FOR SALE: One-fourth interest in Na­
tional Bank in central Iowa. Carries cashiership. Ad­
dress 1937, Northwestern Banker.
BANK FOR SALE : Control in State in eastern
Nebraska. Carries presidency and cashiership. Ad­
dress 1938, Northwestern Banker.
BANK FOR SALE: Ten shares in State Bank in
western Minnesota. Carries cashiership. Address
1939, Northwestern Banker.
4
AN EXPERIENCED BANKER with ten or fifte|i
thousand dollars can form excellent connection with
party in organization of bank in Iowa town of 20,000.
Address 1940, The Northwestern Banker.
HERE’S A REAL BARGAIN: Three Hundred
Dollars ($300.00) will buy F. O. B. Bloomfield, a Set
of Quartered Oak Marble Base, three window bank
Counters requiring no refinishing, five Pedestals having
five drawers each, twelve large drawers under counter

G E O R G E S. P A R K E R , President
F. L. E A T O N , Vice-President

LIVE

C. D. V A N D Y K E , Cashier

A . W . SM ITH, Asst. Cashier

STOCK N A T IO N A L BAN K

Capital

Sioux City, Iowa

Surplus

$100,000.00

LO CATED A T TH E STOCK YARD S

$100,000.00

Deposits $2,500,000.00
The G R E A T N O R T H W E S T being the feeding ground of the Live Stock Industry,
by virtue of our location at the M A R K E T PLACE of this territory, we can offer
unsurpassed RESERVE facilities for Country Bankers.


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Federal Reserve Bank of St. Louis

August, 1915

THE

NORTHWESTERN

BANKER

25

Why Elliott-Fisher Bank Bookkeeping Machine Boes Bookkeepmg the Way

Bankers Want

Bank Bookkeeping Bone.
It posts the ledger, makes the Auditor’s Journal of Checks
and Deposits and Depositor’s Monthly Statement, if desired, all
at one operation.
It gives totals of checks, totals of deposits, totals of old
balances, totals of new balances at the instant the last
item is posted.
It safeguards posting to the right account.
Ledgers are always in balance. Statements are always
in balance and ready to deliver immediately upon request.
Balancing of pass books is therefore eliminated.
It mechanically proves its own work.
It does the accounting and record work of all depart­
ments, writes remittance and transit letters, handles for­
eign and domestic collections, country ledgers, writes
checks and check registers, drafts and draft register, etc.,
etc.
It handles Savings card ledgers and Trust Companies’
work as efficiently as National Bank work.

You are interested in the machine that will do all this and
more. Ask for “ Accounting Control for Banks,” which briefly
describes how it does it.

ELLIO T T -FIS H ER C OM PAN Y
825 Cameron Street

tops, twenty-nine running feet of counter, Check Desk
to match. W e are discarding these only because could
not adjust to remodeled room. Detailed measurements
furnished on application. Address The National Bank,
Bloomfield, Iowa.
EXPERIENCED German speaking Cashier looking
for location in good sized town. Good references. Can
invest enough to show good faith. Address 1941, The
Northwestern Banker.
YOUNG MAN OF 27 would like place in bank.
Two years experience. Rapid and accurate. Best ref­
erences. Address C. O. Lomen, Lengby, Minn.
FOR SALE : About thirty-five feet Oak Bank Fix­
tures. In good shape and at a sacrifice. McNamaraKenworthy Co., Des Moines.
BANK POSITION W A N TE D : By young married
man, age 24; over three years experience. Can furnish
excellent references. Am at present employed but wish
something with better prospect for advancement. Ad­
dress 1942, Northwestern Banker.
YOUNG M ARRIED Man with four years’ experi­
ence wants position as assistant cashier or bookkeeper.
Am also stenographer. Excellent references furnished.
Address R. W. Yarwood, Spencer, Iowa.
W A N T E D — Small country bank in good western
North Dakota or eastern Montana town or will buy
controlling interest if right location. Send statement


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Federal Reserve Bank of St. Louis

HARRISBURG, P A ., U. S. A.

pursuant to last call with full information, reason for
selling, etc. Address 1943, Northwestern Banker.
LEGAL OPINIONS AND DECISIONS.
(Continued from page 23.)
sively in carrying on the corporation business, whereas
in truth the company’s liability was more than their
resources and the note in question was in renewal of
an old indebtedness of the individuals in which the
corporation was not interested.
The defense set up first, that there was no considera­
tion for the guarantee.
In reply to this the Supreme Court says that while
the defendant himself received no consideration for this
guarantee the bank at least released some of its secur­
ity, surrendered the evidence of a prior indebtedness,
and extended the time of payment. This of course
would constitute sufficient consideration for the guar­
anty.
The second defense was that of collusion between
the officers of the corporation and the cashier of the
bank in making the statement above referred to.' The
jury seemed to believe that such collusion existed, and
while the evidence was not entirely clear that the
cashier made false statements intentionally, the court
holds that under the circumstances it was his duty to
make every fact clear to the grantor, which he failed
to do, and the guarantor will therefore be released from
liability. (See Live Stock National Bank vs. Bragonier,
153 N. W., 504.)

26

THE

A

NORTHWESTERN

August, 1915

BANKER

H istory o f the Ideal Cashier
Chapter No. 4.

By S. L. Frazier
Chapter No* 1 of this series commenced with the May
The “ real” cashier is a
The Idéal Cashier has a
issue of The Northwestern Banker and while each chapter
“Bureau
of Information”
comprehensive mind, is
will be complete in itself, it will pay you to refer to the
liberal in his views, has
and he dishes it out gratis,
previous month’s issue in order to see how our “ Ideal”
young banker received his start in life.
positive opinions on social,
on all occasions, to those
moral, political and reli­
entitled to know. How­
gious questions, but not so positive' nor so partisan as ever, there are many “confidences” he must not betray.
to unnecessarily antagonize business interests. He Business secrets must be held inviolate. He must be
analyzes the various questions, and problems, that “keen” enough not to fall into any traps that are set
come to his desk for solution, from every angle. He for him. A customer’s deposit, his obligations, his
plays the game from both sides of the counter. He business-—are sacred trusts, and when some thought­
looks through the other fellow’s “ specs” and stands in less or designing person seeks information that is
the other man’s shoes. He argues both sides of the supposed to be under lock and key, the “good” cashier
question, in his mind, and is thus always pretty well will turn him down, so nicely and with such good
prepared to anticipate and answer the other fellow’s reason (so cleverly assigned) the man will thank you
“ pleas.” To be an “ ideal” man behind the counter, one for “not telling him.” The Ideal Cashier will always
must be “ broad gauged,” tactful, wholesome, rational, be able to say “ No,” but, my young man, how many
reasonable, agreeable, affable, convincing, positive, and ways there are of saying “ No.” Some “ No’s” are an in­
withal, clever enough to make ypur position so clear and sult. I would much rather some people would knock
fair and square and business-like, your customer yields me down and jump on my prostrate body, rather than
gracefully or departs “ unserved” with no bitterness in say “ No,” the way they say it. Some folks say “ No”
his heart, with no “ rankling” in his soul—while in his with so much “ venom” and so much “ viciousness” and
mind he holds you in high esteem, by reason of the such “ insinuating meanness,” I want t6 fight, right then
simple, straightforward and manly fashion in which and there. Wouldn’t you prefer having a man swear
you handled his case.
at you with the worst old volley of oaths a sinner ever
Now, my young man, the above is not so “ difficult” as twisted his tongue around, than say “ No” to you the
you may imagine. You do not, necessarily, have to be way some people say it? Of course you would. The
à college graduate nor a high school athlete to get away Ideal Cashier says “ No,” but he says it more like a
■yvith it. Some other things are required, to be sure, benediction than a curse. Learn to say “ No” and say
but the greatest asset we know of is just “ keeping your it pleasantly, positively, emphatically, but with a
head” at all times. If you have even the symptoms of “ sugar-coating” that will leave a “ sweet” taste in the
the disease “ banking,” if you are even threatened with other fellow’s mouth.
the “ business idea,” if you can even “ cut bait,” there
The Ideal Cashier is a Dandy Good Fellow, but Don’t
will be little trouble in your learning to “ fish” later, Know It.
little doubt but that you can apply your “ ideas,” in a
(T o be continued.)
practical way, small question as to your being able to
“ blossom out,” by and by, a full-fledged banker, pro­ STATE BANK OF ALLISON, IOWA, IN NEW
viding you learn to “ govern your temper,” keep your
QUARTERS.
head, hold your tongue.
The State Bank of Allison, Iowa, are just completing
W e are strongly in favor of all the education a young the remodeling and refurnishing of their bank building,
man can possibly acquire (of the right sort), but mind and will soon be located in their-fine new quarters.
you, one does not have to be a university “ smart Aleck”
This remodeling and refurnishing, which was plan­
to “ play the game.” A college education is not essen­ ned and carried out entirely by the Fisher-Morris Co.,
tial to “ successful banking” (essential, we said), but Charles City, la., has been done in a very complete
lots of good “ horse sense” is. “ Git and Gumption” are manner. The banking room has been enlarged, new
essentials, and all the colleges in the land cannot fur­ and larger windows added, the corner entrance has
nish you with “good common sense.” Oh for the been closed and a new one with a vestibule placed in
saving grace of just GOOD COMMON SENSE!
the center. The outside of the building has been
JOSEPH W A Y N E . Jr.. President
EVAN RANDOLPH, Vice-President

T . E. WIEDERSHEIM, Vice-President
CHARLES M. ASH TON, Cashier

A. W . PICKFORD, Assistant Cashier
ALFRED B A R R A T T , Ass’t Cashier

FRANCIS B. REEVES, Chairman of the Board

The Girard
National
PH IL A D E L PH IA , PA.
Capital, $2,000,000

Surplus and Profits, $4,500,000

Deposits, $46,500,000

A C C O U N T S OF BANKS A N D BANKERS SOLICITED
“ T o Satisfactorily Handle Your Business, You Need a Philadelphia Account”

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Federal Reserve Bank of St. Louis

THE

August, 1915

NORTHWESTERN

W hat W e D o:

...D IR E C T O R S ...
C. F. A L D E N
L A F A Y E T TE LA M B
G. E. LA M B
S . R. S H A M B A U G H
T.
M. GOBBLE
D A N IE L LA N G A N
L. C. E A S T M A N
C. B. M IL L S
J. H. IN G W E R S E N

A c c e p t b a n k ac c o u n ts and pay
i n t e r e s t on a v e r a g e b a la n c e s .
P a y 4 p e r c e n t I n t e r e s t on S a v ­
in g s
A c c o u n ts , c o m p o u n d e d
s e m i-a n n u a lly .
M a k e c o lle c ­
t i o n s as e c o n o m i c a l l y as a n y
b a n k in I o w a . A c c e p t a c c o u n t s
s u b j e c t to c h e q u e .

T h e o f f i c e r s o f t h i s b a n k a re
n e v e r to o busy to a n s w e r q u e s t i o n s or to r e p ly to le t t e r s .
It
is t h e i r a i m to m a k e t h e b a n k

W e w e l c o m e a n o p p o r t u n i t y to
s e rv e you in a n y d e p a r t m e n t
o f t h e b a n k i n g b u s in e s s .

o f re a l s e rv ic e to its f r i e n d s a n d
p a tr o n s .

treated entire with a coat of pebble dash cement, and
with solid cast bronze tablets bearing the name of the
bank on the corner pier, it presents a very clean and
striking appearance.
The interior has been completely rebuilt* with tile
floors, combination gas and electric fixtures, wall dec­
orations, and a fine solid mahogany counter having
bronze grille work, plate glass and Verde Antique
marble.
The officers of the bank are: W. F. Ray, president;
H. F. Wild, vice-president and F. J. Ray, cashier.

27

BANKER

This same idea was referred to in an editorial entitled
“ More Pigs” in the July number of The Northwestern
Banker.
P R O M IS S O R Y NOTE

------------------------------------------ 191__
One year after date for value received, I promise to pay to the order o f _ _______________
----------------------------------------------------- - $ ----------------- with interest at 6% per annum.

Arkansas Pig and Poultry Club Plan Contract

HOW THEY PROMOTE PIG AND POULTRY
RAISING IN THE SOUTH.
The accompanying cut shows a sample of the notes
that the Arkansas-banks use in financing the childteff
so that they may get a start in the hog and poultry
business.
. '
Any boy who will buy a hog with the money can
get credit at the bank up to $10.00 for this purpose, and
any girl who will invest the money in poultry can get
credit to the same amount, bankers in this way,encour­
aging the upbuilding of these industries in the South.
This same plan of financing could be used to very
good advantage by the bankers of the rural districts in
our fertile territory of the North. It means a good deal
to get the younger generation interested in important
affairs of this kind.

JAS. H. JAMISON

it IS hereby agreed by and between.........................—....................... . ....... ......................................J parly n( ^

fjr8t parl

anrf......................................................................................party of the second part, that the party erf the ficst .part loan to
the party of the second part $ . . ........................ at six per cent interest, principal and interest payable oiie year after
date

The party of the second part agrees to maintain a membership in the U S. Government Poultry and Pig Club, and

conform to the rules and regulations of the club, and invest said $.......... ........ under the direction of the club pi a pig or
pen of chickens and to care for same under the* direction of the chib representative

Party of the second part also

agrees to .repay said loan at maturity out of proceeds of sale of original stock'or increase.
Signed. I ----------------------- 1___ ; ___________ __ H ___ ____ __
• hereby consent to above contract, and agree not to claim any interest or right in pigs or poultry purchased or
then proceeds, which may accrue to the party of the second part.

Everett Beazley, of Washta, Iowa, has accepted a
position as assistant cashier in the Security Bank of
Cherokee, Iowa.

A. D. STRUTHERS

President

Secretary

Every policy protected
with a deposit of the Full
Legal Reserve with State
of Iowa.

Giving the policyhold­
er Old Line Life Insur­
ance in the most favor­
able form.

Am ong some of our best Agencies are many of Iowa’s best Bankers.
An Iowa Company progressing rapidly.
Most favorable mortality record during 1914 of any company operating in Iowa.
$1,009,000 written in Iowa first six months of 1915


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Federal Reserve Bank of St. Louis

28

THE

NORTHWESTERN

BANKER

JOHN McHUGH, President
F. A. McCORNACK, Vice-President
L. H. HENRY, Vice-President
O. D. PETTIT, Cashier

August, 1915

JOHN J. LARGE, Vice-President
H. A. GOOCH, Vice-President
J. L. MITCHELL, Vice-President
FRITZ FRITZSON, Asst. Cashier

F ir s t N a tio n a l B a n k
SIOUX CITY, IOW A
Capital and Surplus $ 7 2 0 ,0 0 0
Our facilities for handling items on Iowa, South Dakota, Nebraska and Minne­
sota are unequalled. Write for our new par list.

MISS NINA WOOLEY RESIGNS AS ASSISTANT
CASHIER OF FIRST SAVINGS BANK,
CRAWFORDSVILLE, IA.
At the regular July meeting of the board of directors
of the First Savings Bank, Crawfordsville, la., Miss
Nina W ooley tendered her resignation as assistant
cashier on account of ill health. She had been the faith­
ful and efficient employe of the bank for the past five
and one-half years and had given entire satisfaction.
In recognition of her services the officers and directors
presented her with a silver service tray and forty dol­
lars in gold. With her sister she is now spending the
summer in Colorado. D. D. Nicholson has been chosen
to fill the position, which she vacated.

MAURICE DESPRES, ELMA, IOWA, BANKER
DIES.
Maurice Despres, senior member of the banking firm
of M. Despres and Sons, Elma, Iowa, died recently at
his home. In 1892 Mr. Despres became interested in
the banking business as a partner of John Ferguson in
the conduct of the Bank of Elma, now known as the
First State Savings Bank.
In 1901 he sold his interest in the Bank of Elma and
later bought the Farmers Bank which has since been
conducted by the banking firm of M. Despres & Sons.
Rex Spooner has accepted the cashiership of the
First National Bank of Dexter, Iowa.

With a record of steady and constant growth, proving thereby a
satisfactory service to customers, is willing and anxious to extend its
facilities and solicits correspondence or a personal interview with
those desiring a new or additional connection in Des Moines.
When any of your friends are com ing to the Capital City, please
direct them to us.

L. E. STEVENS, President
B. B. VORSE, Cashier

J. M . CALLANDER, Vice-P res.
J. E. MORTON, A sst. Cashier

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

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Federal Reserve Bank of St. Louis

THE

August, 1915

r

NORTHWESTERN

BANKER

29

G re a t W estern Accide nt In su ra n ce Com pany
DES MOINES, IOWA
Iow a’s Largest and Strongest Health and Accident Company
RESOURCES.
A p p ro v e d S e c u ritie s D e p o site d w ith In su ra n c e
D e p a r tm e n ts . . . .......... ............................................... $207,555.05
C a sh on D e p o sit an d In O ffice.......................................... 29,486.21
I n t e r e s t A c c r u e d ............................
4 ,987.80
P r e m iu m s In C o u rse o f C o lle c tio n ................................
20,418.97
H o ld in g A c c o u n t .......................................................................
100.22
T o t a l A d m itte d A s s e t s .....................

L IA B IL IT IE S .
R e s e r v e f o r R e -I n s u r a n c e ................................................ $ 93,601.06
R e s e r v e f o r L o s s e s ..................................................................
21,853.52
R e s e r v e f o r S u n d r ie s .............................................................
8,972.77
S u rp lu s to P o lic y h o ld e rs
(In c lu d in g C a p ita l S to c k $ 1 0 0 ,0 0 0 .0 0 )........... 138,210.90
T o t a l .................................. .....................................................$262,638.25

$262,638.25

NO CLAIMS DUE AND UNPAID
Write to the Home Office for a Bank Agency Proposition o r Appointment as Collector for Your Community.

MITCHELL
SAVINGS
BANK,
MITCHELL,
IOWA, INCREASES ITS SURPLUS FUND
$ 2, 000.

At the last meeting of the directors of the Mitchell
Savings Bank, G. H. Parkhurst, who has been con­
nected with the bank for the past four years, was
elected cashier. M. J. Fox was elected a director in the
place of Charles Lamm and the surplus account was in­
creased from $2,000 to $4,000. The statement of July
6th shows the'capital stock to be $10,000 and the total
deposits $129,421.
A. C. Prime, president of the bank, purchased the
holdings of Charles Lamm for $250 per share, indicat­
ing the purchaser’s satisfaction as to the value of stock
in the bank that has paid good dividends since its in­
corporation in 1907. Henry Indra is the vice-president.
The Peoples State Bank, Humboldt, Iowa, will re­
model the interior of their already fine banking rooms.

W. H. BLISS RESIGNS FROM THE CASHIERSHIP OF THE SAVINGS BANK OF SALEM,
IOWA.
W. H. Bliss recently resigned as cashier of the Sav­
ings Bank of Salem, Iowa, after having held the same
office for thirty-four years.
In the year 1881 he and his brother-in-law, Homer L.
Bacon, organized the Bank of Salem, with Mr. Bliss as
cashier. The business proved a success from the start
and in the year 1899 when the capital stock was in­
creased from $10,000 to $16,000, several new directors
were added and the name of the institution was
changed to the Savings Bank of Salem. All through
these thirty-four years the bank has enjoyed a steady
growth until it now has a capital of $25,000 and is
rated as one of the most solid banking institutions of
the'county and state. O. H. Tyner has been elected the
new cashier.

BANK OF SIOUX RAPIDS, IOWA, HAS BEAU­ ly three cents per hour.
Some of the points of superiority claimed for this
TIFUL ELECTRIC SIGN.
The Bank of Sioux Rapids, Sioux Rapids, Iowa, now sign by the manufacturers are that it is a most effective
has a double-faced, art-glass, electric sign, made by the sign for either night or day use, and is especially
Rawson & Evans Co., of Chicago, suspended across the attractive when illuminated in view of the background
as well as the letters both illuminating but in sufficient
sidewalk in front of its building.
The letters are in translucent milk white opal glass contrast to make the sign very legible. It is also
on a background of translucent mottled green claimed that the large saving in cost in the illumination
opalescent glass, with a border of similar glass in a of this sign as compared with the more common types
of electric signs having the letters formed in bulbs will
brownish tone.
The sign measures seventy-four inches by twenty- pay for this sign in a comparatively short time.
f o u r inches
over all in­
cluding t h e
two-inch ox­
idized copper
border. It is
wired for illu m in a tio n
with six 40watt Tung­
sten lamps,
which illuminate both
sides of the
sign very ef­
fectively a t
an expense of
approximate­

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Federal Reserve Bank of St. Louis

30

THE

NORTHWESTERN

BANKER

August, 1915

Scandinavian American National Bank
M IN N EA PO L IS
Capital $1,000,000.00

Surplus $200,000.00
Officers

A. UELAND, V ice -P resid en t
E D G A R L. MATTSON, V ice-P resid en t
GEO. F. ORDE, V ice-P resid en t
CHAS. B. MILLS, V ice-P resid en t

H. R. LYON, P resident

E. V. BLOOMQUIST, Cashier
A. E. LINDHJEM , Asst. Cashier
T R Y G V E OAS, Asst. Cashier
W . R. M URRAY, Asst. Cashier

W e have exceptional facilities for handling the accounts and business of banks. Our
list of correspondents is growing daily. W e would like to see your name on our books.

iiiiiiiiiiiiiiiiim iim iiiiiiiitiiiiiiiiiiiim m iiiiiim iiiiiiiiiiiiiiiiiiiiiim iiiiiiiiiiiiiiiiiiiiiiim ifiiim m iiiiiiiiiiiiiiiiiiiiiiiU M iiim iiiiiiit

M IN N E SO T A
FIRST NATIONAL BANK, AITKIN, MINN., IN­
CREASES SURPLUS $2,500.
At the semiannual meeting of the First National
Bank, Aitkin, Minn., $2,500 of the earnings for the first
six months of 1915 were passed to surplus, increasing
the surplus to $30,000, while the capital is $25,000,
strengthening the stability of the bank accordingly.
The directors also voted to become members of the
Federal Bank check collection system, an organization
purely for the benefit of depositors in the member
banks of the district federal bank. For years this bank
has charged no exchange on its own checks sent to
other points, and by joining the new system it simply
encourages all other member banks in the ninth district
to do the same and thereby make their checks par.
GERMAN AMERICAN BANK, MINNEAPOLIS,
IS FIRST STATE BANK TO APPLY FOR
MEMBERSHIP IN FEDERAL RESERVE
BANK.
The German-American Bank of Minneapolis, is the
first state bank in the Ninth Federal Reserve District
to apply for membership in the Federal Reserve Bank.
“ W e are especially pleased,” said Theodore Wold,
governor of the Federal Reserve bank, “that one of the
largest and one of the best state banks in the district
has been the first to make application, and we hope that
it will be followed by a number of others.
“ The German-American Bank was formed in 1886
and has remained under virtually the same ownership
ever since. It never has missed a, dividend1since its
first year, and has increased its capital of $76,000 out of
surplus earnings to a capital of; $200,000, surplus of
$200,000 and $76,000 of undivided profits.”
There are 1,200 state banks in the ninth district,
about 625 of them eligible for membership no\v or after
moderate increases in their capital stock. . Each bank
may subscribe for stock in the Federal bank up to 6
per cent, of its capital and surplus.
The officers of the German-American Bank are : JF.
A. Gross, president; Chas. Gluek, first vice-president;
Henry Doerr, second vice-president;. G. E. Stegner,
cashier and Jacob A. Kunz, assistant cashier.

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Federal Reserve Bank of St. Louis

ZAPP

STATE BANK, ST. CLOUD, MINN.,
HOLDS ANNUAL MEETING.
The stockholders of the Zapp State Bank, St. Cloud,
Minnesota, held their annual meeting recently and re­
elected the same directors and officers. The officers
are: John Zapp, president; Theo. Bruener, vice-presi­
dent; Edward Zapp, cashier and George J. Meinz, as­
sistant cashier.
The bank has just closed one of the most successful
years in its long history. The regular semi-annual div­
idend of 6 per cent, was declared and $15,000 credited
to the undivided profit account.
K. O. GIGSTAD ELECTED PRESIDENT OF NEW
FARMERS STATE BANK, ST. HILAIRE,
MINN.
A new bank to be known as the Farmers State Bank
has been organized at St. Hilaire, Minn., with a capital
of $12,000.00 and with a $2,400.00 reserve fund.
At a meeting of the directors the following officers
were elected : K. O. Gigstad, president; J. S. Roy, vicepresident; O. Aaberg, Anita, N. Dak., cashier.
The erection of a new brick building as a home for
the bank has been begun.
The amount of the capital stock is $12,000 divided
into 120 shares of one hundred dollars each.
A. F. MEYERS IS NEW CASHIER OF THE FIRST
NATIONAL BANK, WESTBROOK, MINN.
A. F. Meyers of Belle Plaine, Minn., has been elected
cashier of the First National Bank of Westbrook,
Minn., to fill the vacancy caused by the resignation of
John O. Bondhus who returns to Heron Lake to re­
sume real estate activities. The other officers of the
First National are: J. W . Benson, president; J. J.
Christy and J. E. Nelson, vice-presidents. The capital
stock is $25,000, surplus and undivided profits $14,000
and deposits $300,000.
JOHN H. HOHMANN ELECTED PRESIDENT
, OF NATIONAL BANK OF COMMERCE,
, MANKATO, MINN.
At a/recent meeting of the directors of the National
Bank; of Commerce, Mankato, Minn., John H. Hohmann, who was .recently elected cashier of that bank
to fill the vacancy caused by the resignation of J. G.
Tegner, was elected president, and A. J. Veigel was
elected cashier, ¡tp. fill the vacancy caused by Mr. Hohmann’s promotion, Mr. Veigel will assume his duties
whenever a successor is appointed as postmaster. A.
L. Wheeler remains vice-president and Chas. O. Hoerr

THE

August, 1915

NORTHWESTERN

31

BANKER

ma ---------------------------------------------------------------------------------------------------------------------------------------- — ---------------------------------------------------------------------------------------------------------------------------------«

Oldest Bank in M innesota

The First National Bank of St. Paul
Statem ent at Close ol B u sin ess, M ay
R esou rces.
L o a n s a n d D i s c o u n t s ..................................................... $ 2 4 ,3 2 9 ,0 6 1 .4 2
U . S. B o n d s ...........................................................................
6 0 0 ,0 0 0 .0 0
O t h e r B o n d s ...........................................................................
4 ,3 2 7 ,4 4 1 .1 6
B a n k B u d d i n g 1, S it e a n d N e w C o n s t r u c t i o n
5 6 8 ,8 1 4 .0 8
S t o c k in F e d e r a l R e s e r v e B a n k ...........................
1 0 0 ,0 0 0 .0 0
D u e f r o m B a n k s a n d U . S. T r e a s u r e r ..............
6 ,9 8 0 ,7 1 0 .0 6
, .....................................
4 ,0 9 9 ,3 8 5 .7 2
C ash
............. .IP
$ 4 1 ,0 0 5 ,4 1 2 .4 4

1 , 1915

-

•

•
L ia b ilit ie s .
C a p i t a l S t o c k .......................................................................$ 3 ,0 0 0 ,0 0 0 .0 0
. S u r p lu s .....................................................................................
2 ,0 0 0 ,0 0 0 .0 0
P r o fi t ...........................................................................................
4 0 6 ,7 6 4 .4 1
1 7 5 ,0 0 0 .0 0
R e s e r v e d f o r U n e a r n e d I n t e r e s t ........................
R e s e r v e d f ° r T a x e s ........................................................
1 0 7 ,6 6 6 .1 8
C i r c u l a t i o n ..............................................................................
5 0 ,0 0 0 .0 0
D e p o s i t s ........ ................................................................. 3 5 ,2 6 5 ,9 8 1 .8 5
$ 4 1 ,0 0 5 ,4 1 2 .4 4

O F F IC E R S :
E D W A R D O . R I C E , V ic e -P r e s id e n t
O T T O M . N E L S O N , V ic e -P r e s id e n t
C H A R L E S H . B U C K L E Y , C a s h ie r

L O U IS W . H I L L , C h a ir m a n
E V E R E T T H . B A I L E Y , P re sid e n t
C Y R U S P . B R O W N , V ic e -P r e s id e n t

E D W I .V M O T T , A s s t . C a s h i e r
H E N R Y B . H O U S E , A s s t . C a s h ie r
C H A R L E S E . G A L L , A s s t . C a s h ie r

W e s o lic it t h e a c c o u n t s o f b a n k s , c o r p o r a t io n s , f ir m s a n d in d iv i d u a l s ,
a n d g i v e p r o m p t a n d c a r e f u l a t t e n t io n t o a ll b u s i n e s s e n t r u s t e d to u s .

1a i r " " " ' ..... .......

"

'

~ ........" .............. :

'

assistant cashier. C. L. Oleson, who recently resigned
as president, remains a director.
MERCHANTS NATIONAL BANK, ST. PAUL,
MINNESOTA, HOLDS FORMAL OPENING
IN ITS NEW BUILDING.
The beautiful new home of the Merchants National
Bank of St. Paul, costing $1,500,000 and having five
hundred rooms, has been formally opened to the public.
The exterior of'the building is of glazed and polished
nonabsorbent material, gray granite on the first floor
and white terra cotta and brick above. The architec­
ture is pure renaissance, simply treated. The ground
floor lobby is finished in black and white marble.
The banking room, although plain in design, will
rank among the handsomest in the United States. A
wainscoting of green Tinos marble from Greece covers
the lower part of the walls, while above a light brown
Hauteville marble from France is used. Trimmings are
in black Belgian marble. Eight giant columns of Haute­
ville marble, four feet six inches in diameter, relieve the
vast effect given by the interior of this room.
The Merchants National Bank was organized May
20, 1872. On July 24 of the same year, it was author­
ized to begin business, with a capital of $250,000.
On December 2, 1912, an important step in the up­
building of the Merchants National Bank was taken
when it was consolidated with the National German
American Bank. When the consolidation of the two
banks was brought about each had about $10,000,000 in
deposits. The capital of the Merchants National Bank
is now $2,000,000; its surplus and profits $2,320,000, and
the call of the comptroller of the currency on May 1
found that the bank had on deposit then almost $21,000,000, with loans and discounts of $14,000,000.
The officers of the bank are George H. Prince, chair­
man; Donald S. Culver, president; F. E. Weyerhaeuser,
R. C. Lilly, H. Von der Weyer and J. A. Oace, vicepresidents; H. W . Parker, cashier, and H. Van Vleck,
G. C. Zenzius and M. R. Knauft, assistant cashiers.

..................... - ....

............................................................................... issa

State Bank, recording secretary; C. H. Rose, North­
western National, corresponding secretary; E. H.
Browne, Northwestern National, treasurer, and C. B.
Brombach and E. J. Weggenhalls, First and Security,
executive committee.
C.
B. Brombach was also chosen delegate to the
American Bankers Association at Seattle in September.
Thirteen delegates were chosen to the National
American Institute of Banking convention at San Fran­
cisco, August 18th.
FIRST STATE BANK OF MONTGOMERY,
MINN., IS TW ENTY-FIVE YEARS OLD.
The First State Bank of Montgomery, Minnesota,
has just celebrated its twenty-fifth anniversary and is
the oldest banking institution in Le Sueur County. It
was organized at first as a co-partnership, as many sim­
ilar business institutions were at that time and contin­
ued to so exist with the title of Bank of Montgomery
until September, 1903, when it became a corporation
and was chartered under the laws of thé State of Min­
nesota as the First State Bank of Montgomery.
In 1910 the capital stock was increased from $10,000
to $15,000 and surplus from $2,000 to $5,000.
The First State Bank has enjoyed a steady, con­
servative growth under the able management of John
Sheeby, president; D. A. Hanlon, vice-president; T, J.
Hanzel, cashier and W. F. Gilles, assistant cashier.
WINONA SAVINGS BANK, WINONA, MINNE­
SOTA, TO PAY INTEREST QUARTERLY.
The Winona Savings Bank, of Winona, Minnesota,
has decided to pay interest quarterly instead of semi­
annually. Under the new plan three months’ interest
will be credited on such deposits on October 1st and
both the principal and interest may, if desired, be then
withdrawn without the loss of interest for any time
the amount so withdrawn, may have been on deposit.
So one of the results and advantages of this change to
quarterly payments of interest will be that a depositor
may withdraw his money from the Bank on January
1st, April 1st, July 1st and October 1st, without the
loss of interest earned on deposits.
A new bank building is in the process of construc­
tion. It is made of white granite with large columns
in the front. The officers are: E. L. King, president;
Paul Watkins, vice-president and B. D. Blair, cashier.

J. C. THOMPSON ELECTED PRESIDENT OF
MINNEAPOLIS CHAPTER OF A. I. B.
The Minneapolis Chapter of the American Institute
of Banking elected J. C. Thompson of the Northwest­
ern National bank, president for the ensuing year.
L.
R. Swett of the First and Security National Bank F.
W. Philbrick has organized a new bank at Red­
was elected vice president; Guy F. Jensen, East Side wood Falls, Minn., with a capital stock of $50,000.

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Federal Reserve Bank of St. Louis

32

THE

NORTHWESTERN

BANKER

August, 1915

W a lt e r H. R h od es

John W . O v erstre e t

Rhodes-Overstreet Company
Consulting Bankers
Bank Stocks
OMAHA

-

NEBRASKA 5

9 0 7 NV. O . W . Bldg.

Phone Douglas 5 5 4 6

«111111■1111111111111111II1111■11111111111111111111111111111111111111111111111111111111111111111111111111111111111■11111111111111111■11111111111■11•1111111111111111M

NEBRASKA

soh, son of S. L. Burson, cashier. Mr. Whitehead has
for the past eleven years been superintendent of the
Gothenburg schools.

niiiiiimimiiiiiimiiiiiiiiiiimiiimmmiiiiimiiiimmmmiiiiiiiiiiimiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiimiiiiiimimimiiiimt'i.

THREE NEBRASKA TOWNS HAVE NEW
BANKS.
GRAND ISLAND
NATIONAL BANK, NE­
BRASKA, BUYS AURORA NATIONAL BANK.
Three new state banks have been organized in three
C.
C. Hanson, president, and T. J. Hanson, cashier Nebraska towns where no other banks are in existence,
of the Grand Island National Bank, Nebraska, have and will open up for business under charters issued by
purchased most of the stock and the controlling interest the Nebraska banking board. •
The Gurley State bank of Gurley is one of the new
in the Aurora National Bank, Aurora, Neb., from A. G.
Peterson, president, and his family. The bank is cap­ institutions. It has $10,000 of capital stock. The of­
italized at $75,000 and the interests bought by the ficers are: President,. C. S. Weyerts; vice-president,
Harm Poppen; cashier, H. G. Weyerts.
Grand Island men represent $59,600.
The Horace State bank of Horace, Greeley county,
The Aurora National Bank was organized in 1889
by D. E. Thompson, E. Bignell, A. G. Peterson, J. B. has been chartered for $10,000. T. J. Hansen is presi­
Cain and Fritz Hoefer. Mr. Peterson was cashier for dent, H. Blanchard, vice-president, and J. P. Leth,
a long time but has been president for the past fifteen cashier.
The banking department has received an application
years.
The latest statement of the Aurora National Bank for charter from the Enola State Bank of Enola, with
showed loans and discounts of $154,743.39; surplus $10,000 capital. The officers are: President, W . R.
$25,000; undivided profits, $12,073.64; deposits, $100,- Martin; vice-president, H. A. Varner; cashier, L. T.
Rerucha.
188.28.
Mr. C. C. Hanson is president of eight banks located
at Grand Island, Dannebrog, Wolbach, Farwell, Elba, CITY NATIONAL BANK, CRETE, NEBRASKA,
St, Libory, Cotesfield and Cairo.
INCREASES ITS SURPLUS FUND.
At the recent semi-annual meeting of the directors
FARMERS STATE BANK, GOTHENBURG, NE­ of the City National Bank, Crete, Nebraska, the exam­
BRASKA, OPENS.
ining committee reported that the bank during the past
The Farmers State Bank of Gothenburg, Nebraska, six months has transacted the largest volume of busi­
has recently opened for business. The bank, which was ness in its history.
organized and received its charter in April, has an au­
The cashier’s report showed that in the same period
thorized capital of $50,000 of which $25,000 is paid in. the earnings were the largest since its organization five
S. L. Burson, a banker of wide experience, is president; years ago. Usual cash dividend was declared, $1,000.00
P. M. Whitehead, vice-president; and Chas. W . Bur- was added to the surplus fund, furniture and fixture ac-

In All That is Good Iowa Affords the Best

LIFE INSURANCE and GOOD BANKING
Among the bankers who are policy holders:— George E. Roberts, Leslie M. Shaw, Ralph Van
Vechten and TWO HUNDRED and FORTY OTHER BANKERS in IOWA.
Homer A. Miller, President of the Iowa National Bank, Des Moines Iowa, was insured for
$2,000 for twenty years, paid in premiums total $1,192, had the option of a cash settlement of
$1,596, giving 20 years’ insurance and $404 profit.

This Company Makes Results— Not Estimates
FRANK D. JACKSON, President

SIDNEY A. FOSTER, Secretary

Royal Union Mutual Lite Insurance Company, - - - Des Moines, Iowa
Correspondence Solicited


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Federal Reserve Bank of St. Louis

Agents Wanted

August, 1915

____ . T H E

D. D. Myers, Pres.

NORTHWESTERN

C. H. B erg,V ice Pres.

Capital $100,000.00

33

BANKER

J. F. Harragan, V ice Pres.

G eo. J. Hom an, Cashier

Surplus and Profits $30,000.00

W e have a large list of country Correspondents, located in

N ortheastern Io w a , Southern M innesota, S ou th w estern W is ­
con sin, N orthw estern Illinois
We maintain an efficient direct service with the Banks in this territory and are prepared to make
you a most liberal proposition to handle your items. Correspondence invited.

THE DUBUQUE NATI ONAL BANK
DUBUQUE,

IOWA

ESTABLISHED 1884

I

M
count was reduced, and a substantial balance remained
in the undivided account.
H. S. Fuller is the president; Ralph D. Brown, vicepresident ; C. W . Weckbach, cashier and F. A. Novak,
assistant cashier.
BANK
OF KEYSTONE, KEYSTONE,
NE­
BRASKA, INCREASES CAPITAL TO $15,000.
The Bank of Keystone, Keystone, Neb., is now doing
business in their new brick building which is of modern
design and up-to-date in every respect, with a large
fire proof vault and elegant fixtures. On July 8th they
increased their capital to $15,000.00 to take care of their
increased business. This is one of the solid banks of
the North Platte valley. The officers are J. W . Welpton, president; H. Welpton, vice-president; R. H.
Barber, cashier; Paul H. Kannaw, assistant cashier.
J. M. NEWELL, PRESIDENT OF GROUP FOUR
OF THE SOUTH DAKOTA BANKERS
ASSOCIATION.
J. M. Newell, of Mt. Vernon, S. D., was named
president of Group Four of the S. D. Bankers Asso­
ciation, at its annual meeting at Mitchell, held recently.
F. G. Vessey, of Wessington Springs, was elected vicepresident, and J. W . Bryant, of Mitchell, secretarytreasurer. Executive committee members from the
counties in the group are : L. Lovinger, Aurora ; F.
E. Swartout, Buffalo; S.'S. Stowell, Brule; F. J. Welch,
Davison; C. H. Stilwell, Hanson; W . T. George, Jer­
auld ; W . H. Allen, Sanborn.
EDEN STATE BANK, EDEN, S. D., W IL L ERECT
NEW HOME.
The Eden State Bank, Eden, S. D., will erect a
large brick structure this summer, which will cost
several thousands of dollars. O’Neil Brothers, of Milbank, have secured the contract for the new bank
building. Henry Helwig, president of the bank, ex­
pects to make the local bank one of the strongest on
the entire Fairmont-Veblen line.
A new bank has been organized at Valley, Neb., and
will begin the construction of a handsome building in
the very near future. The bank will have a capital of
$20,000 and local men and investors from the immediate
surrounding country will control it, exclusively. Gil­
bert A. Peterson will be president; Roy Erway, vicepresident; and C. N. Nelson, of Lincoln, will be cashier.

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Federal Reserve Bank of St. Louis

I
I

Schedule of Special
Trains from Chi­
cago to Seattle
The American Bankers Convention convenes
in Seattle from September 6th to 10th, 1915, and
three special trains will leave Chicago September
1st, over three separate routes— Chicago, Mil­
waukee— Burlington and Great Northern— and
North Western and Northern Pacific Railways.
The following schedule shows cities at which *
all three trains will meet and time of arriving and
departing. Entertainment will be enjoyed at each
stop.
Leave Chicago 8:30 p. m., Wed., Sept.
Arrive St. Paul, 9 :0 0 a. m., Thur., Sept.
Leave Minneapolis 8: 30 p. m., Thur., Sept.
Arrive Spokane 4 :3 0 p. m., Sat., Sept.
Leave Spokane 11:00 p. m., Sat., Sept.

1.
2.
2.
4.
4.

Arrive Seattle 12:00 (noon), Sun., Sept. 5.
Make reservations through any railroad agent
in the territory mentioned, through your state
secretary or chairman of the Chicago Transporta­
tion Committee, William R. Dawes, vice-president
and cashier Central Trust Co. of Illinois.

34

THE

N O R T H W E S T E R N ' B-ANKER

“ M ade

August, 1915

M in n e a p o lis “

in

The Am erican Bank P rotection Co.
Capital $150,000.
Steel Office and Vault Fixtures
Omnibuses

Steel Filing Devices
Vault Doors

ELE C TR IC A L BU RG LAR ALARM S
Tw elve

years’ experience protecting rnore than 2,000 banks without
Indorsed by bankers’ associations and expert vault engineers
Every system guaranteed against burglary

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I

NORTH

DAKOTA

|

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DICKINSON, N. DAK., TO HAVE GERMANBOHEMIAN BANK.
A German-Bohemian bank is to be opened for busi­
ness about November 1st at Dickinson, N. Dak., under
the management of Frank Lish, Peter 'Brown and
Dominie Vranna.
The bank will be capitalized for $50,000 and operate
under state laws. The charter has been issued from
Bismarck.
METROPOLITAN STATE BANK, MINOT, N. D.,
BUYS FIRST INTERNATIONAL BANK.
The Metropolitan State Bank of Minot, N. D., which
recently received a charter from the state, with a cap­
ital stock of $35,000, has closed a deal for the purchase
of the First International bank of Minot and the new
management has already taken charge of the institu­
tion.
The officers.of the new institution are as follows:
President, H. J. Halvorson; vice-president, G. W. Mc­
Williams; cashier, H. E. Shearn; assistant cashier,;
Newell R. Olson.
Directors— Fred T. Anderson, H. J. Halvorson, H. E.
Shearn, G. W . McWilliams and E. A. Long.
These men are all connected with the Brush-McWilliams company, a concern with a capital of $100,000.
It is not only a Minot affair but has offices in several
other states, notably at Milwaukee, Wisconsin, and at
different points in South Dakota. It handles one of the
largest and safest lines of mortgages and farm loans in
the northwest and stands high in the financial world
as a safe and sound concern conducted on safe and
sound lines.
BANK DEPOSITS IN NORTH DAKOTA SHOW
STEADY GAIN.
Bank statements in North Dakota show steady and
substantial gains in bank deposits in this state. Much
of the increase may be traced to the fact that people
are going to that state to buy land and are sending
their money there to be invested in lands.
The bank deposits of Grand Forks, North Dakota,
have increased over a half million dollars in the past
year; going from $3,104,548.38 in June 1914 to $3,604,-


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Federal Reserve Bank of St. Louis

a

robbery

485.09 in June 1915, and other cities are in proportion.
Last year the total resourcés of Mandan’s three in­
stitutions amounted to $1,924,012.23, while their total
deposits reached $1,448,493:55.
This year the combined resources amount to $2,089,569.69, while the deposits have climbed to $1,560,927.75,
thus showing an increase of $165,557.46 in resources,
and of $112,434.20 in deposits.
One interesting item in the statement of the govern­
ment depository concerns the deposit through the pos­
tal savings department. Last year, when the state­
ments were called for June 30, the postal savings de­
posits were $489.28. This year at the close of business
June 23, these deposits had more than doubled, reach­
ing-the total of $1,046.32.
ELDRIDGE

STATE BANK ORGANIZED AT
ELDRIDGE, N. D.
The James River National Bank of Jamestown, N.
D., expect to open a branch bank in Eldridge, N. D.',
about August 15th to be known as the Eldridge State
Bank. Eldridge is an important market point and the
people of this vicinity have long felt the need of a bank.
THE UNION NATIONAL BANK, MINOT, N. D.,
CONDUCTS SAVINGS DEPOSIT CAMPAIGN.
The Union National Bank of Minot, N; D., is con­
ducting a campaign for new savings deposit accounts.
The campaign is Under the direction of the W. F. Burns
Co., of Chicago, and already many residents of Minot
have displayed an interest. A neat little bank is given
to all who wish to start saving and this bank can be
taken to the Union National any time where it will be
opened and due credit given.
W. D. McCLINTOCK ELECTED PRESIDENT OF
THE N. D. BANKERS ASSOCIATION.
At the annual convention of the North Dakota Bank­
ers Association hejd at Bismarck, the following officers
were elected : President, W . D. McClintock, president
Merchants Bank of Rugby ; vice-president, J. E. Phe­
lan, president First National Bank of Bowman; secre­
tary, W . C. Macfadden of Fargo; treasurer, C. W.
Fielder, cashier Bottineau County Bank of Bottineau;
chairman executive council, J. J. Nierling, retiring pres­
ident and president Citizens National Bank of James­
town. Executive committee— Missouri slope district,
T. E. Hayward of Mandan; northwestern district, Os­
car Wilson of Donnybrook; district No. 3, H. P. Beck­
with of Fargo; district No. 4, H. A. Merrifield of Hank-

August, 1915

THE

NORTHWESTERN

BANKER

35

ZAISER’S HIGH-GRADE STEEL PENS
Used by Particular Bankers for Over Twelve Years

».
No. 1.

_TJar ^ I
EXTRA ELASTIC. flltC

W IL L

H.

Twelve styles—a pen for every hand.
Un­
surpassed for smoothness, uniformity and
durability.
Get Samples—you will like
them and will continue to use them, as others
are doing. Sample card of 12 styles sent for
10c. Price, any style, $1.25 per gross, post­
paid. Six gross, assorted, $6.00, postpaid.

Z A IS E R

S P E C I A L T Y

C O M P A N Y

Originators Capital Self-Indexed L oose Leaf Ledgers

Office and Bank Outfitters

309 Fourth St.

inson ; district No. 5, Louis Malm of Sanborn, and all
past presidents of the association.
Minot was chosen as the 1916 convention city.
W . E. FEENEY. OF MAPLE LAKE, MINN., BE­
COMES PRESIDENT OF CITIZENS BANK,
KENMARE,, N. D.
W . E. Feeney, of Maple Lake, Minn., has purchased
a controlling interest in the Citizens Bank of Kenmare,
N. D., and has become its president.
Thomas Madigan, of Maple Lake, is vice-president,
and S. L. Kleve, of Flasher, N. D., cashier. Mr. Kleve
will be in direct charge of the bank.
The new owners of the Citizens Bank of Kenmare
are men of many years’ successful banking experience.
Mr. Feeney is president of the Maple Lake State Bank,
and the First State Bank of Northome, Minn. He is
also interested in the International Bank of Inter­
national Falls, Minn., and the Farmers & Merchants
Bank of Power Lake, N. D.
Mr. Madigan is cashier of the Maple Lake State
Bank, and well known throughout the northwest,
where he has many business interests. Mr. Kleve, who
has come to Kenmare to take charge of the bank, has
been cashier of the Flasher State Bank of Flasher,
N. D.
ROBERT E. TRUESDALE ELECTED PRESI­
DENT OF MISSOURI SLOPE BANKERS.
The Missouri Slope Bankers Association, which held
their meeting recently at Bowman, N D., elected the
following officers: Robert E. Truesdale, Mott, presi­
dent; Alfred White, Dickinson, vice-president; T. E.
Hayward, Mandan, secretary; C. J. Phelan, Bowman,
treasurer.
A very enthusiastic and helpful meeting was held.
Among the speakers were Superintendent W. A. Peter­
son, of the Northern Great Plains Field Station, and
Prof. Smith, farm extension department of the First
National Bank of St. Paul, Minn. Dickinson, N. D.,
will entertain the association next year.

Des Moines, Iowa

lime’ while the overdrafts have fallen off
ip1lo,Ou(J.
The number of state banks show a big increase from
March, 1914, to May, 1915, while capital stock paid in
increased $141,000. Over $500,000 represents the in­
crease in banking houses, furniture, fixtures and real
oorvinnn Surplus funds show an increase of over
$156 000 an<^ sav^nffs deposits show an increase of
Item, “ due from approved reserve agents,” shows
an increase of $1,125,000, while “ loans and discounts”
have increased nearly $5,000,000 in the same time.
Farming and business conditions generally in North
Dakota are in first-class condition.
THE

EXCHANGE STATE BANK, W ALNUT
IOWA, IS REMODELED.
The Exchange State Bank of Walnut, Iowa, have
recently completed some remodeling on their building
which makes a great improvement. The banking rooms
have been lowered two feet, giving easier accessibility
and more privacy. They have installed new fixtures
and have paneled their rooms with seven foot panels.
The fixtures and panels are of genuine black walnut
which has been finished so as to make a very beautiful
appearance.
The officers are: Julius Hector, president; H. B.
Sievers, vice-president; F. C. Hector, cashier. The
capital of the Exchange State Bank is $40,000, surplus
$10,000 and deposits $415,000.

b

ls J

l .N

c flV

rE

SIGNS FOR BANKS

1118B l l t J
421

NORTH DAKOTA BANKS IN SPLENDID CON­
DITION.
North Dakota state banks and trust companies are
carrying checking accounts amounting to more than
$1,500,000 in excess of a year ago, according to Bank
Examiner Johnson.
Time deposits have increased nearly $3,500,000 in

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Federal Reserve Bank of St. Louis

Letters carved of wood
X X gold leaf—black sand

W ESTERN D IS P LAY C O ., Saint Paul
SEND FOR CATALO G

THE

36

NORTHWESTERN

BANKER

August, 1915

S io u x Falls Savin<is B a n k
SIOUX

FALLS,

S.

D.

C a p i t a l ...........................................$200,000.00
Total R esources Over . . . $2,500,000.00
OFFICERS
C.
C.

W IL L IA M O N TJES, President
v

H. ROSS, Vice-President
C. B R A T R U D , Vice-President

JAS.B. L A M B E R T S O N , Cashier
K. B. CRESSEY,Assistant Cashier

A Live Com m ercial Bank
Accounts of B anks and Bankers Solicited

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SOUTH

DAKOTA

T iiiim iiim iiiiiiim iiiiiiiiim im iiiiiim m iiiiiiim iiiim iiiim iiiiiiiiiiiiiiiim iiiiiiiiiiiiiiiiim iiiiiiiiii

Send Us Your Farm Loan A p p lication s

1914 Grain Values.
Wheat .............................. . . ...........................$23,562,000
Oats ................................................................. 15,457,750
Barley ............................................................ 8,706,500

1111111111111111ti 11■111

Total

$47,726,250
Estimated 1915 Grain Values.

Wheat
Oats . .
Barley

$55,650,000
21.935.000
11.312.000

Total ................................................ ...........$88,897,000

JOHN BARTON
Cashier Security National Bank
Sioux Falls, S. D.

SOUTH

DAKOTA TO HAVE A SPLENDID
SMALL GRAIN CROP.
The July government crop report shows the esti­
mated value of the South Dakota small grain crop to
be worth $41,000,000 more than in 1914. This year’s
prospective wheat crop is worth more than the com­
bined wheat, oats and barley crops of last year as
shown by the following figures;

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Federal Reserve Bank of St. Louis

PENNINGTON COUNTY BANK, RAPID CITY,
S. D., IS ERECTING NEW STRUCTURE.
The Pennington County Bank of Rapid City, S. D.,
have already commenced work on the superstructure
of their building. A fire last winter which destroyed
their home made it necessary for the bank to erect a
new building.
The public lobby will extend back and connect with
the side entrance at the rear. This lobby will be wain­
scoted in marble' and mahogany to match the bank
counter and will be furnished with marble settees up­
holstered in brown Spanish leather. The walls, floor
and roof of the vault are of massive concrete heavily
reinforced with high-carbon Bessemer steel. These
will be lined with brick to provide a dry air space and,
within the brick lining will be another of steel, every
part of which will be electrically protected with the
same burglar alarm system which the bank has used for
number of years. The large plate glass windows, the
ceiling, with its enrichment of ornamental stucco and
rich tints of old ivory, its beautiful ivory and opalescent
glass lighting fixtures and their subdued indirect light­
ing will give a very beautiful appearance.
The officers of the Pennington County Bank are:
G. F. Schneider, president; Peter Duharrel and B. W.
Carle, vice-presidents; George White, cashier.
GROUP ELEVEN, SOUTH DAKOTA BANKERS
ASSOCIATION, MEETS AT COLOME.
The fourth annual meeting of group eleven, South
Dakota Bankers Association, was recently held at Colome, S. D. It was a very successful and enthusiastic
meeting and among the speakers were the following:
“ South Dakota Bank Guaranty Law,” by Hon. C. D.
Howe, Sturgis, S. Dak. “ The practical working of
Federal Reserve Act,” by Hon. C. E. Barnum, president

THE

August, 1915

NORTHWESTERN

BANKER

37

SIOUX FALLS NATIONAL BANK
ESTABLISHED 1881
Sioux Falls,
, South Dakota
O R thirty years, u n der on e co m p e te n t and con tin u ou s m anagem ent, this
bank has faithfully served the interests o f all p eop le, and the part the
S iou x Falls N ational has taken in d e v e lo p in g the raw prairie o f South
D a k ota in to a great co m m o n w e a lth , can never be calculated.

F

D. L. McKinney, V. P.
C. L. Norton, V . P.

OFFICERS
C. E. McKinney, Pres.
S. T . Kiddoo, Cash.
J. D. Fleckenstein, A . C.

of Norfolk National Bank, Norfolk, Neb. “ Value of
Promoting Live Stock Industry to the Western
Banker,” by Hon. Bruce McCullough, editor of the
Journal Stockman, South Omaha, Neb. “ The Value of
a Statement,” by Hon. E. R. Gurney, vice-president
First National Bank, Fremont, Neb. Fairfax was des­
ignated for next year’s meeting to be held on May 30,
1916. The officers elected for the ensuing year w ere:
D. E. Coffey, Fairfax, president; E. V. Youngquist,
Carter, vice-president; W . G. Stevenson, Fairfax, sec­
retary and treasurer.
L. B. KEITH, CASHIER OF FIRST NATIONAL
BANK, COLMAN, S. D., W ILL RETURN
FROM SAN FRANCISCO IN TIME FOR
OPENING OF NEW BANK.
L. B. Keith, cashier of the First National Bank at
Colman, South Dakota, is now making a visit to the
Panama-Pacific Exposition. Mr. Keith left July first
and will be gone for several weeks. The new build­
ing that the bank is erecting is nearly finished ajid Mr.
Keith will be home for the formal opening which will
occur early in August. The Lytle company of Sioux
City, Iowa, were the designers and builders of the
building.
FARMERS AND MERCHANTS STATE BANK
EUREKA, S. D., MAKES BIG GAIN.
The Farmers and Merchants State Bank of Eureka,
S. D., has made a very handsome gain in business dur­
ing the past year. On May, 1914, the deposits were
$29,897.77 and on May, 1915, were $63,067.70, show­
ing a gain in volume of $33,169.93, or a gain of 111
per cent. On May, 1914, the checks were $39,162.65
and on May, 1915, were $56,318.17, showing a gain
in volume of $17,165.52, or gain of 43.7 per cent. The
officers of the bank are: Phil Schamber, president:
John Doerling, vice-president, and A. M. Berg,
cashier.

moved to Gregory in the fall of 1904 and took charge
of the business. In 1908 the capital of the bank was
increased to $25,000, and in 1909, when the United
States land office moved to Gregory, the bank was
nationalized with a capital of $50,000.00, and was des­
ignated a United States depository to receive the land
office receipts.
In January, 1913, the stockholders of the Gregory
National Bank purchased the Corn Belt Bank & Trust
Co., and the two banks were consolidated under the
name of the Gregory National Bank.
The deposits are now $300,000 and the capital, sur­
plus and profits $60,000. Martin Eickman, who has
been assistant cashier, succeeds Mr. Hackler as cash­
ier, who resigned to seek a larger field in banking.
DAKOTA STATE BANK, OLDHAM, S. DAK., IS
ERECTING A NEW BUILDING.
The Dakota State Bank, Oldham, S. Dak., of which
O. B. Severson is cashier, has been having such suc­
cessful business that in order to properly handle the
affairs of their customers in a satisfactory manner they
are erecting a new building. It is of brick and stone
and will be ready for occupancy in about two weeks.
The other officers are James F. Toy, president; W il­
liam F. Brennen, vice-president; C. F. Loose and F. H.
Nelson, assistant cashiers.
D.
H. Jenkins, president and principal owner of the
Garden City State Bank, Garden City, S. Dak., sold
his interests in the institution to L. E. and L. A. Pope,
of Mitchell.

EQ U IP P E D and CONDUCTED for
SERVICE

Security National Bank
OF SIOUX FALLS, S. DAK.

JOY M. HACKLER, CASHIER OF GREGORY
NATIONAL BANK, S. D„ SELLS INTEREST
TO H. L. MILLAY, PRESIDENT.
H.
L. Millay, president of the Gregory National
Bank, Gregory, S. D., has bought the interest of Joy
M. Hackler, cashier of the same bank.
Mr. Hackler and Mr. Millay organized the Gregory
State Bank in 1904 with a capital of $5,000, this being
the first bank organized and opened for business in
the new part of Gregory county. Mr. Hackler re­


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Federal Reserve Bank of St. Louis

Capital and Surplus, $250,000.00
UNRIVALLED FACILITIES FOR THE COLLECTION
OF SOUTH DAKOTA ITEM S
THE ENTIRE STATE HANDLED DIRECT
W . E . S T E V E N S , P re sid e n t
W . K V A N B R U N T , Vice P resid en t
I 0 H N B A R T O N , C ash ier
O . C H O L M R F R O , Vice P resid en t
D . C . L O W E , A ss’t C ash ie r
R A Y G . S T E V E N S , V ice P re s id e n t
C. R . B O N D , A ss’t C ash ie r

SOUTH DAKOTA’ S LEADING BANK

38

THE

NORTHWESTERN

BANKER

August, 1915

How Bankers Are Advertising
the bank. Anything out
How Individual Checks
This department contains ideas from different bankers tell­
of the ordinary has an
Helped to Increase This
ing of methods they have employed in advertising to se­
added interest value and
Bank’s Business
cure new depositors and to increase their business. Use
this interest no doubt will
the ideas and plans that appeal to you and also write and
F. E. Jackson, president
tell us what you have been doing along this line.
take tangible form in new
of the Turner County
deposits.
Bank, Hurley, S. Dak., has
always been a persistent advertiser but he believes that
Movies to Portray Bank Building in Process of
the one thing that has secured them the most publicity
Erection.
and thus the most business has been the distributing
The Third National Bank building, of Springfield,
of individual checks to their customers.
Mass., now in course of erection by H.oggson Brothers,
In his letter he said:
“ While good advertising, personal solicitation, cal­ of New York, will have its complete history shown on
endars and persistent hustling have all had their part the film.
The operation of quarries from which the stone and
no doubt, I believe the one thing that has helped most
is providing our desirable customers, including new granite for the foundations and base of the building
ones who wished the service, with our individual are taken will be portrayed; the rolling of steel will be
shown in the Pittsburgh steel mills; the beams loaded
checks.
W e have them lithographed in lots of 100,000 at a on cars ready for shipment, and at the building lifted
time, shipped to us in sheets and our local printer does and put in place as a part of the great skeleton. Huge
the cutting, printing of customer’s name and business, trees will be shown felled in the forests of Austria,
or the name of his farm, or in fact any other advertising Africa and South America, and they will be followed
that may be desired. They are bound up twenty-five through the saw mills 'and the cabinet shops, there to
checks to the book, each alternate a stub, and we pro­ be made up into furniture and bank fixtures, and later
vide a substantial leather cover, something that will fitted in as part of the building. Terra cotta and brick
for the exterior and the interior
last. This check, bearing our
fireproofing will be shown cast
trade mark of the five coins
“A bank’s line of goods is about the same all
and burned, and set in the
marked “ Turner County Mon­
the year and from year to year. A bank can­
growing
edifice.
ey” seems to attract attention
not expend $5,000 in advertising and expect to
The average individual little
wherever presented, and need­
make thereby $50,000 immediately. Sometimes
such things do happen, but they do not belong
realizes that there are more
less to* say our patrons appre­
to the realm of reasonable expectancy. Once
than fifty professions and trades
ciate it, and many new deposi­
in a while a man does pin a $500,000 check to
called into action in a big build­
tors have opened accounts.”
a bank advertisement and send it in with tb f
ing operation and this film is
casual remark, ‘Please deposit to my credit qj
a checking account.’ But don’t expect that to
intended to show the close co­
“The Club of Success” Secures
happen very often! Expect rather to see a
operation and co-ordination of
New Accounts for This Bank.
gradual building up of your business, a gradual
these branches of activities as
A pamphlet has been issued
strengthening of confidence, a growing friend­
they are brought together
by the Citizens Savings Bank
ship through knowledge on the part of the pub­
lic for your institution. A bank that adver­
through the medium of the
of Letts, Iowa, with the title,
tises intelligently and continuously is bound to
Hoggson
Building Method,
“ The Club of Success.” “ Do
win in the long race, but my advice is, do not
where
all
elements
are united
you belong to this club?” A
go into the one-hundred-yard dash; enter the
and under the control of one
strong motto in the middle of
marathon.”— E. B. Wilson.
i
organization.
the page is “ Tickle your savings
account with pennies and it will
laugh back at you with dollars.” The coupon enclosed Advertises Loans for Erection of Silo or Hog House.
in the booklet reads: “ Here is $1.00 with which to
The New Hartford State Bank, of New HartforcJ,
start my Citizens Savings account. I want to join the Iowa, is a progressive and live institution, as shown by
Club of Success. Please issue a savings book in my their recent advertising, which says: “ W e want to be
name.”
of service to our customers, more particularly to the
Start a Club of Success in your town. It is sure to farmers who create our Nation’s wealth. W e have
bring you new depositors.
money to loan to that progressive farrier who wishes
to improve his farm equipment in the erection of a silo,
Uses Picture of Cow and Her Triplets tO' Attract hoghouse or even a new barn. W e believe it our duty
to encourage anything which will improve a customer’s
Attention to Bank.
prosperity and to discourage any proposition which
Recently a cow owned by a man near Little Rock, will detract from same.”
Iowa, gave birth to triplets. The Security Savings
Bank was presented with a picture showing the cow
with her three calves by her side, and this picture was Farm Loan Business Accomplishes Much Toward
Advertising Bank.
placed in the bank window with a placard reading as
The establishment of a farm loan business in con­
follows :
nection with a general banking business accomplishes
“ This is the way cattle increase in this coun­
a great deal toward advertising a bank. This has been
try. Put your money in this bank at 5%
successfully carried out by the Iowa City State Bank,
interest and see how it will increase.”
Iowa. G. S. Krouth, cashier, says, that if he were
“ Security Savings Bank, Little Rock, Iowa.”
Nearly every passerby noticed the unusual picture starting a new bank his first advertising scheme would
and of course read the ad which attracted attention to be a personal letter to prospective customers, soliciting

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

August, 1915

THE

savings accounts and pointing out the
benefits to be derived. Personal solici­
tation and co-operation, the latter being
obtained through direct appeal to stock­
holders, brings results.'
The Iowa City State Bank believes
that their ability to handle real estate
loans has brought. them more results
than any other line .of advertising they
haye used. Have you established a real
estate loan department in,your bank?

NORTHWESTERN

BANKER

39

m v o r u v ^ r H v l A v ih n

H w /v e & h

Why Banks Should Advertise.,,
By Dr. Frank Crane.
...
Banks ought to advertise.
..
They need it, as much as do theaters,
groceries and clothing stores.
Whoever has something to sell ought
to let the people know of it. A bank
has service to sell.
The more people are informed of it,
the more business it does, the larger is
its field of usefulness and the greater its
profits.
The day is past when advertising,
any kind of advertising, was deemed
.undignified. It is no longer wise for
b&fik directors to refuse all advertising
for fear the public will think their in­
What is the use of reaping a harvest unless you reap a “result” from
stitution is unsound and crying for
your harvest? Being careful in growing your crop will not benefit you
money.
unless you are “careful” with your money when you get your money.
Advertising does not mean essen­
tially that you are trying to fool the
Regularly banking the money you earn from your work, or in your
business, is the one sure way of growing a fortune. Try it.
people, to lure them into some sort of
sjiell game. In fact every reputable
B A N K W I T H US
newspaper discountenances that sort of
thing. Newspapers do the best they
W e pay------------ per cent interest_____ ________________________
can to protect them readers avainst
fraud.
B A N K ’S N A M E HEeRE
The bank is a part of every man’s
business.^ It is the silent- partner of
Yo u See This D on ’t You? Others W ill See Yours
feWty going concern. Its prosperity is
If T h e y Are Like It, W o n ’t T hey?
impossible without general prosperity.
Its embarrassment spells trouble for
C T irv” ; ! vn iroK * u? t0 te'E yOU ^ow w e,can make the money you have in your bank
STICK m YOUR bank; and how to get others to put more money into YOUR bank? ’
every merchant on the street.
W RITE US: W e will do it cheerfully.
The neWspajjper is an established in­
stitution ’in'* ¡pygry community. So is
TH
E O U T C A U L T A D V E R TISIN G CO.
113j> Caxton Building
the bank. As sob’n as a town has a
Chicago, 111.
(P lease m ention this paper when writing)
postoffice,general’ store, church and
schoolhouse, somebody starts a news­
paper, then somebody opens a bank. Both are primal alert to seize and test a new idea, and to adopt if if
necessities.
it is found valuable.
W hy should th^y not work together?
A bank is a quasi-public affair. It ought shrewdly
Men naturally tfffn to the paper to see what is doing, and persistently to cultivate the public.
what are the busifiess opportunities, where and what
to buy and sell,
,
Its columus-iarfe the streets of the town. The bank’s FIVE NEW LAWS FOR STATE BANKS IN
IOWA.
shingle ought to be hung out on that street.
Five
new
laws
have
become
operative for state banks
Without extravagance, withdtJioverstatement, with­
out tomfoolery, in a sensible, iiSl-ifiy way, the banker in Iowa since July 4th.
ought to let his place fi^business.^e known.
First, State and Saviiigs banks are permitted to join
Further, he oughtd^J^ judicidff§|&nd shrewd sugges­ the federal reserve system. The federal reserve act
tion, to show the people the advantage Of having a bank contemplated that state and savings banks should be
account, the other files they caiiHnake of a bank, and allowed to join the system if the banks wanted so to do,
the general good that co-operation with a bank may but the Iowa bank laws would not permit it.
do them.
Second, National banks have practically the same
A bank ought to be conservative and dignified. But prerogatives in handling of estates as now are pos­
that is not enough. It ought also to be wide-awake, sessed by state and savings banks and trust companies.

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Federal Reserve Bank of St. Louis

40

THE

NORTHWESTERN

Third, Banks may loan to single individuals or firms
up to 20 per cent of the bank’s capital and surplus.
Fourth. The reduction of savings ' bank reserves.
Heretofore time certificates have been treated as com­
mercial accounts in figuring reserve, which required
15 per cent. The amendment reduces the required re­
serve to 8 per cent, the same percentage as it is neces­
sary to hold against savings deposits.
Fifth, National banks are permitted to act as trustees
or executors;

BANKER

August, 1915

to enable them to market their products in volume
corresponding to the power of the trade to absorb
them. In order to accomplish this end, it is suggested
that federal reserve banks adopt a definite policy with
reference to re-discounting paper secured by docu­
ments in satisfactory form evidencing the ownership
of stored agricultural products.
“Through such a policy, together with proper meth­
ods of warehousing, federal reserve banks can be a
potent factor in assisting the normal movement of
staple agricultural products from the field to the factory
or to the consumer. It is recommended that regula­
tions governing the re-discount of notes covering ad­
vances of such products be issued by such of these
federal reserve banks whose members are actively en­
gaged in financing the movement of such crops to the
market.”
The board calls attention to its recent regulations
as to trade acceptances, saying that such acceptances,
when growing out of transactions involving the move­
ment of staple crops, are eligible for re-discount with
reserve banks and their use should aid materially in
the marketing of crops.

FARMERS TO BE HELPED BY RESERVE
BANKS IN MARKETING CROPS.
Preliminary plans designed to make available the
resources of the federal reserve system in the annual
fall movement of crops have been worked out by the
federal reserve board. Writing to the twelve regional
banks, the board pointed out in a letter made public
recently how members of the system may help to
finance the crop movement.
The board’s action was taken, the letter says, to fore­
stall any possibility of congestion of crops this fall or
lack of financial accommodation to move them and to
avoid a recurrence of. the stringency which in the past
has marked this movement.
The First National Bank building at Corning, Iowa,
Although the board applies its plan to wheat, corñ
and all other cereals, it devotes most attention to the was sold at receiver’s sale recently for $11,500. The
cotton crop, which, it says, is peculiarly sensitive to purchase was made by the Okey-Vernon National
abnormal conditions such as now exist in the export Bank and they will move their bank into the new loca­
tion.
trade.
Usually t h e
crop movement
has been taken
care of by gov­
ernment depos­
its in banks or
t h e issue o f
emergency cur­
rency under the
Aldrich - Vreeland act which
e x p i r e d last
month. In place
of these agen­
cies, the board
states, there is
ample authority
in the federal
reserve act to
meet the situa­
tion this fall.
“ In view of
the large sur­
plus of reserves
now held by the
federal reserve
banks, by mem­
ber banks and
by other banks
throughout the
country,” says
the board, “ there
has been no dif­
ficulty in afford­
ing the produc­
ers the assist­
ance necessary Views of Seattle, Wash., where the American Bankers Convention will be held September 6th to 10th.

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Federal Reserve Bank of St. Louis

August, 19Ì5

THE

NORTHWESTERN

merchants

BANKER

41

NATIONALBAN

CEDAR. R A P ID 5", IO W A .

"W e are confident that you will be so well pleased with
the attention and service that you will receive at this old es­
tablished bank, that you will be glad to be one of our regu­
lar customers.
A strong directorate and an able executive staff assure
wise management and prompt service.

R esources over $ 8 ,0 0 0 ,0 0 0 .0 0
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|

I O W A

IliiiiiiiiiiiimiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiimmiiimiiiiiiiiiimiiimmiiiiiiiiimiimiiiiMiimimmiimiiiiiiiiiiiiiiiiiO

The Page County State Bank, Clarinda, Iowa, held
its annual meeting recently and the following officers
were elected: President, J. N. Miller; cashier, Hugh
Miller; yice-presidents, Noros H. Martin and Geo. E.
Martin, and assistant cashiers, C. A. Beech and F. V.
Hensleigh.
Charles W . Rathke, president of the Mills County
National Bank at Glenwood, Iowa, died recently. H.
H. Cheyney has been elected president of the bank to
succeed the late Charles W . Rathke and W . C. Rathke
has been promoted from the position of assistant
cashier to that of vice-president.
Geo. F. Krittenbrink, of Avoca, Iowa, has purchased
the controlling interest in the Franklin County Bank at
Hildreth, Neb. He was made president of the bank.
U. S. Marr, the vice-president, has been connected with
the bank for the past twenty years.
The Martinsburg Bank, Martinsburg, Iowa, has in­
stalled new fixtures.
Clyde Sparks has accepted a position with the Boone
State Bank, of Boone, Iowa.
The Iowa Bankers Association has a total member­
ship of no less than 1,650 banks and its affairs are all
in excellent condition.
Lauren Johnson has accepted a position in the Ex­
change State Bank, Lime Spring, Iowa, lately vacated
by Charles Anderson.
John Killen resigned as cashier of the Citizens State
Bank of Monona, Iowa, and was elected president to
fill the vacancy caused by the removal of W . H.
Nelings from Monona. Robt. M. Fonda was elected
cashier.
The First National Bank, Iowa City, Iowa, declared
a 5 per cent dividend on its capital stock recently. Like­
wise was a dividend in the same amount declared on
the stock of the Farmers Loan and Trust Company.
The Central State Bank, Des Moines, Iowa, declared
a semi-annual dividend of 10 per cent, which was pay­
able on July 1st. There are those who do not hold to

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Federal Reserve Bank of St. Louis

the general opinion that business in Iowa is good, and
is constantly improving. To these this action of the
Central State should be great news.
The First National Bank, Adair, Iowa, recently pur­
chased a new Ely-Norris double Manard manganese
steel safe and it was placed in the front window of the
bank, where people may see it in operation.
Charles Moore, cashier of the Parnell Savings Bank,
Parnell, Iowa, purchased 129 shares in that bank, held
by Williamsburg people. This gives Mr. Moore a con­
trolling interest in the institution.

Minneapolis Bank Fixture
Company
215 Fifth Street N. E.
MINNEAPOLIS MINN.
SPECIA LIST M A N U F A C T U R E R S OF
Bank, Office and Store Fixtures.
High-Grade

Cabinet W o rk

A ll Classes of

and Interior Finish.

Designs and Estimates Submitted on W o od , Marble
and Tile W o rk .

THE

42

NORTHWESTERN

W E

BANKER

August, 1915

B O N D

more people than any other company in the world

NATIONAL

SURETY

COMPANY

* N ew Y ork
FIDELITY AND SURETY BONDS and BURGLARY INSURANCE POLICIES
Iowa Bankers Association recommends the National Surety Company for the business
of the hanks
Assets over $ 7 ,0 0 0 ,0 0 0
A m erica s Leading Surety C om pany
P lace a ll o f y o u r B u rg la ry In su ra n ce and B onds th ro u g h the

IOWA BANKERS ASSOCIATION
P.

W . HALL, Secretary

DES

MOINES

ii ii iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiin iiiiiiiiiiiiiiiiiiiiiiiiim m iiiiiim iiiiiiin im iiiiiiiiiiiiin iiim iiiiiiiiiiiij

With bank deposits of nearly three millions of dol­
lars, Decorah, Iowa, lays claim to being the richest
town in the country, according to population.
|
I O W A
At the annual meeting of the Citizens Bank of Union,
1
E
...............................................................................................................
Iowa, the business of the year was checked up and
C. W. Gadd, of the First National Bank of Buffalo found to be very satisfactory in every way. The pres­
Center, Iowa, was appointed as a member of thç com­ ent officers were re-elected for the coming year and are
mittee of three on time locks, of the Iowa Bankers as follows: H. C. Chapin, president; E. A. Gregory,
Association at Davenport recently, which is one of the vice-president ; C. E. Lawrence, cashier ; C. O. Law­
most important committees of the association.
rence, assistant cashier, and C. E. Barnes, assistant
At the annual meeting of the stockholders of the cashier.
State Savings Bank of Missouri Valley, Iowa, held
The State Bank of Dows, Iowa, has installed a Bur­
recently, the following officers and directors were roughs bank statement and posting machine.
elected: W . A. Smith, president; J. S. Dewell, viceSpirit Lake, Iowa, is to have a new bank to be known
president; H. M. Silsby, cashier; J. B. Barrett, assistant as the Spirit Lake State Bank, with a capital of $50,000.
cashier; W . A. Smith, J. S. Dewell, M. O’Connor, R. D.
A meeting of the directors of the Farmers & Citizens
McEvoy, J. J. Amen, L. R. Pike and H. M. Silsby con­ State Bank, West Point, Iowa, was held for the pur­
stitute the board of directors. The bank showed a nice pose of filling the vacancies in the board caused by the
increase in business for the past year.
deaths of Theo Brinck and Wm. Trançy. J. C. GinCharles Burdick, of Baxter, Iowa, has resigned his gerich and Lee Foster were elected directors. The two
position in the State Savings Bank of Baxter in order deceased members were also vice-presidents of the in­
to accept the position of cashier in the Merchants Na­ stitution and Herman Lohman and Gerhard Harney
tional Bank of Wadena, Minn.
were elected as vice-presidents.
C. J. Martin, prominent banker of Jefferson, Iowa,
The Farmers Savings Bank building, Brandon, Iowa,
died recently.
was destroyed by fire recently.

The Des Moines National Bank
Des M oines, Iow a
T h e p o lic y o f this bank is to cultivate h elp fu l business relations
w ith its corresp on d en ts and to render at all tim es the service w h ic h
their needs dem and and w h ic h o u r eq u ip m en t insures.
A n expe­
rien ce ex ten d in g ov er th irty -fo u r years in .catering to su ch needs has
p rov id ed a broad understanding o f the req u irem en ts in this field.
W e cordially invite a share o f y o u r business.

Capital and Surplus $ 900,000
R esou rces o v er
8,000,000
Arthur Reynolds, President
John H. Blair, First Vice-President
John A. Cavanagh, Vice-President


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Federal Reserve Bank of St. Louis

C. A. Barr, Cashier
John H. Hogan, Assistant Cashier
A. J. Zwart, Assistant Cashier

THE

August, 1915

NORTHWESTERN

BANKER

43

The Seaboard National Bank
o f the City o f New York

Capital $1,000,000 - - - Surplus and Profits (earned) $2,850,000
8. G. BAYNE, President
O. O THOMPSON.
B. L. GILL,
Vice-President
Vice-President
W. K. CLEVERLEY, Cashier
L. N. DeVAUSNEY.
JL O. EMORY,
O. M. JEFFERDS,
Asst. Cashier
Asst. Cashier
Asst. Cashier
8. G. NELSON,
Vice-President

Accounts of Banks and Bankers from the Middle West Especially Solicited on most Favorable Terms
lished forty-one years and is still under the same man­
agement, the members of the firm being T. H. Steele,
D. T. Steele and S. F. Steele.

The board of directors of the First National Bank,
Muscatine, Iowa, recently accepted the resignation of
S. M. Hughes, as cashier, a position held by him faith­
fully and efficiently for many years. The change there­
by made necessary in the officiary of the bank was
made the occasion for a closer union of the two allied
institutions, v iz : the First National Bank and the First
Trust '& Savings Bank. The directors of both banks
proceeded to create the office of active vice-president,
promoting R. K. Smith, formerly cashier of the First
Trust and Savings Bank, to the new position and giv­
ing him general supervision over the affairs and man­
agement of both the National and Savings Bank. The
remaining offices in the National Bank were filled by
the election of T. C. Clark as cashier, Arthur Steinmetz,
assistant cashier and Edward Schroeder, teller. B. C.
Benham was made cashier of the First Trust and Sav­
ings Bank. Mr. Hughes still retains his position as
director of both institutions.
L. A. McMurray, of Webster City, who has held the
presidency of the State Bank of Ellsworth, Iowa, since
the death of M. H. Brinton, resigned recently and Gil­
bert Knudson was chosen president. Mrs. Anna E.
Olsen resigned as director. Mr. McMurray retains a
directorship in the bank.

The totals of the interest payment of the Perry Sav­
ings Bank, Perry, Iowa, to its savings depositors for the
first half of the year 1915 as computed recently shows
that only a few dollars are lacking of making the totifl
$6,000, or $1,000 every month. The bank has had a
steady increase in this department and the steady
growth has been the result of a prosperous condition
throughout the city and a confidence in the institution.

Peoples Savings Bank
DES M O IN ES, I O W A
E STA B LISH E D 1890

CAPITAL (Paid in) $50,000.00
CAPITAL (Earned) 50,000.00 $ 100,000.00
SURPLUS and PROFITS (Earned) 190,000.00
DEPOSITS
over 2,700,000.00
C. H. MARTIN, President
FRAN K P. FLYNN
E. A. SLININGER
Vice-President
Cashier
CARL W . MESMER
Assistant Cashier

Increased business made an opening for another
assistant at the Farmers and Merchants Savings Bank,
Harlan, Iowa, and G. K. Swift has accepted this posi­
tion.

Accounts of Banks and Bankers Solicited

The Steele’s Bank of Cherokee, Iowa, has been estab­

Davenport Savings Bank
D AVEN PO R T, IO W A
OFFICERS
JOHN F. DOW , President
AUG. E. STEFFEN, Vice-President
OTTO HILL, Cashier
S. BLACKMAN. Ass’t Cashier

Capital
Undivided Profits
Deposits
:

:

-

D IR E C T O R S

$ 300,000.00
420,000.00
4,200,000.00
t

Per Cent Interest Paid on De­
posits: Money Loaned on Real
Estate Security in the State of Iowa.

4

:

J. H. RUHL
M. D. PETERSEN
A. E. STEFFEN
THEO. KRABBENHOEFT
J. F. DOW
W. H. GEHRMANN
W. H. WILSON
OTTO HILL
JNO. W. GILCHRIST


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Federal Reserve Bank of St. Louis

44

THE

NORTHWESTERN

OFFICERS
CHAS. SHULER,
President

BANKER

August, 1915

Capital Stock
$150,000.00
Surplus
150,000.00
Undivided Profits 100,000.00

W . H. GEHRMANN,
Vice-President
P. T . W ALSH,
Vice-President
FRANK B. YETTE R
Cashier
LOUIS G. BEIN,
Assistant Cashier

I O W A
R i iiiii iiii iiii m im ii m iim iiiii iiii iiii iiiii iiii iiiii iiii iiii iiiii im ii iiiii iiii iiiii iiii iiii iiiii iiii iM iti M iiii iiii iiiji iiii iiiii iiii iiii iiiii iiii iiiii iin

Two of the finest small-town bank buildings in Iowa
were opened for business in Traer, Iowa, recently, A l­
most $10,000 has been spent in rebuilding and refur­
nishing the Traer State Bank building. It is built on
the Roman Doric plan, the entire front being of white
stone. A large chime clock is one of the attractive new
features, electrically lighted and arranged so it may be
seen a long distance. The new Farmers Savings Bank
building is very handsome and practical. Traer may
well be proud of her banks.

M A D E TO ORDER
$25, $30, $35 and up

M

E L L O W Spring days will
be here before you know

it.
For months w e ’ve been antici­
pating the time when you ’d be
wanting smart new Spring gar­
ments.
On our tables you will find an
array of all the creations for
this season’s wearing.
Y o u ’ll find them modestly
priced— consistent with satis­
factory tailoring.
W e 'd like to have you look over
that $25 line. It's the best yet.

N IC Q IX The T a ilor
• "W—Jerrems’ Sons •
22 Years at 502 Walnut
DES MOINES. IO W A

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Federal Reserve Bank of St. Louis

W e invite the business
of banks, bankers and
m e r ch a nt s d e s i r i n g
prompt, efficient and
satisfactory service.

The Exchange State Bank of Walnut, Iowa, is now
nicely located in their newly remodeled building.
While they may have been quite a while doing this,
they no^y feel justified, in the completion of the work
by the results they have obtained.
A. P. Rosenthal, of Peterson, Iowa, has accepted a
position as bookkeeper at the Citizens Savings Bank,
Cedar Falls, Iowa.
The Rubio Savings Bank, Rubio, Iowa, will probably
increase its capital stock from $10,000 to $20,000.
At a meeting of the stockholders of the Farmers
Trust & Savings Bank, Charles City, Iowa, the follow­
ing officers were elected: President, Geo. F. H eitz;
vice-president, Fred Fluhrer; cashier, Geo. A. Wentland; secretary, Earl Barger. The capitalization of
this new bank is $30,000.
The State Bank of Cantril, Iowa, will erect a new
bank building in the very near future. The building
will be a solid, substantial brick, one story in height.
H. G. Bartlett resigned his position as cashier of the
Farmers National Bank, Osage, Iowa. Mr. Bartlett’s
resignation leaves vacant the position of cashier in the
bank. C. E. Swanson, who has been bookkeeper for
more than a. year, has been advanced to the rank of
assistant cashier.
Geo. L. Bower, of Rockwell City, Iowa, was recently
elected president of the National Bank of Commerce of
St. Louis. It is capitalized for $12,000,000 and the
deposits are $50,000,000.
The First National Bank of George, Iowa, purchased
a new Burroughs ledger posting adding machine.
The First National Bank, Moulton, Iowa, recently
declared a dividend of $3,000 out of the earnings for
the first half of 1915. This amount was not distributed
among several stockholders as is usually done, but was
added to the surplus fund, to be used in the business of
the bank.
The Mount Ayr Bank, Mount Ayr, Iowa, conducted
by the Allyn Brothers since 1880, was sold to a new
stock company headed by Hon. Frank E. Sheldon. On
August 1st the bank is to be converted into the Mount
Ayr State Bank and incorporated with $100,000 capital
stock and $10,000 surplus, with Mr. Sheldon as presi­
dent.

Hi«!*!

THF

August, 1915

JN

UR T n

W

L o 1; L K

IN

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The Commercial National Bank
W A T E R L O O , IO W A

Capital and Surplus, $500,000
OFFICERS
W . W . MILLER, President
F. C. PLATT, Vice-President

E. W . MILLER, Vice-President
GEO. E. LICHTY, Vice-President

The Citizens National Bank of Grinnell, Iowa, now
has among its savings depositors, customers from New
York City to Alaska.
Centerville, Iowa, is to have a new banking institu­
tion in which Wm. Evans, the well-known cashier of
the First National Bank, Wm. Krapfel and a number
of others will be interested.
National banks in Des Moines, Iowa, with those of
other cities are making every effort to put the over­
draft in the obsolete class.
The Farmers and Merchants Bank of Glenwood,
Iowa, opened for business recently. A. D. French has
been secured to assist Mr. Gettler in the management
of the business.
The new bank known as the Securities Savings Bank,
organized at Marshalltown, Iowa, will open its doors
about the middle of August and will represent prin­
cipally the labor and manufacturing interests of the
community. The officers are : J. L. Williams, presi­
dent ; W . W. Doolittle, vice-president ; H. M. Vawter,
cashier. The management of the institution will rest
largely with Mr. Vawter, who was formerly connected
with the Marion County National Bank of Knoxville,
Iowa.
The annual meeting of the stockholders of the Ger­
man Savings Bank, Manning, Iowa, was held recently.
The review of the year’s business revealed the fact
that the fiscal year just closed had been one of the most

C. H. EIGHMEY, President
B. F. BLOCKLINGER, Cashier
C. J. COLLIER, Vice-President H. A . KOESTER, Ass’t Cashier

Capital, - - - $200,000
Surplus & Profits, $161,000

First National Bank
DUBUQUE, IOWA
Accounts of Bankers Solicited.


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Federal Reserve Bank of St. Louis

Write Us for Terms

H. C. SCHULTZ, Cashier
H. W . WENTE, Ass’t Cashier

successful in the history of the bank. The surplus
fund was raised from $10,000 to $12,000, aside from the
declaration of a substantial dividend. Douglas Rogers
is president; H. P. Hansen, vice-president; F. W.
Wohlenberg, cashier, and R. H. Wheeler, assistant
cashier.
The annual meeting of the stockholders of the Iowa
State Savings Bank, Fairfield, Iowa, was held recently
and the following officers were elected : President,
Joseph Ricksher; vice-president, E. A. Howard; cash­
ier, O. F. Fryer; assistant cashiers, W . H. Guyer, Frank
Ricksher, and bookkeeper, J. W . Cassel.
H. M. Carpenter, Jr., has assumed his duties as as­
sistant cashier at the Monticello State Bank, Monticello, Iowa.
At a meeting of the Iowa Savings Bank’s directors,
Fort Dodge, Iowa, held recently, a semiannual dividend
of 10 per cent was declared, half of which was placed in
a surplus. This new surplus amounts to $10,000. . The
bank’s showing on its recently increased capital stock
is gratifying to Fort Dodge citizens.
The annual meeting of the Silver City State Bank,
Silver City, Iowa, was held recently and the following
officers were elected : C. G. Greenwood, president ; C.
H. Kruse, vice-president; M. Kehoe, cashier and J. W.
Kruse, assistant cashier.
Yandell Seaton has accepted a position in the Iowa
State Savings Bank, Malvern, Iowa.

S E C U R I T Y

NATIONALBANK
S IO U X C IT Y , IO W A

Capital and Surplus $500,000
W . P. M A N LEY , President T. A . BLACK Vice-President
C. W . BRITTON, Cashier C. G. C U M M IN S , Ass’t Cashier

46

THE

NORTHWESTERN

BANKER

August, 1915

IOWA NATIONAL BANK
F L E M IN G BUILDING, D ES M O IN ES, IO W A
STATEMENT JUNE 23, 1915
L IA B IL IT IE S .
C a p i t a l S t o c k ...................................................
S u r p lu s a n d P r o f i t s ......................................
C i r c u l a t i o n ........................................................
D i v i d e n d s U n p a i d ........................................
D e p o s i t s ................................................................

$ 1, 000, 000.00
5 3 7 ,5 0 4 .8 6
2 3 4 ,9 0 0 .0 0
1 0 ,8 4 0 .0 0
7 ,7 4 3 ,6 6 0 .3 6

Largest National Bank
in Iowa. Makes a special­
ty of farm loans for its
correspondents.
Write
for rates.
Best service.

$ 9 ,5 2 6 ,9 0 5 .2 2

R ESOURCES.
L o a n s .....................................................................
$ 7 ,3 3 3 ,0 8 8 .0 2
U n i t e d S t a t e s B o n d s ..........................................................
3 0 0 ,0 0 0 .0 0
F e d e r a l R e s e r v e B a n k S t o c k ....................................
3 9 ,0 0 0 .0 0
5 ,0 0 0 .0 0
F u r n i t u r e a n d F i x t u r e s ...........................’......................
O v e r d r a f t s ..................................................................................
8 ,2 5 0 .5 6
C a s h a n d E x c h a n g e .....................................................
1 ,8 4 1 ,5 6 6 .6 4
$ 9 ,5 2 6 ,9 0 5 .2 2

&
H O M E R A. M IL L E R , P re s .
R. L. C H A S E , J R ., A s st. C a s h ie r

Officers

&

H. S . B U T L E R , V ic e -P re s .
C . H. S T E P H E N S O N , A s st. C a s h ie r

I O W A
5

=

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The sixteenth annual meeting of the German-American Savings Bank, Muscatine, Iowa, was held recently.
Henry F. Giessler was re-elected president and all the
other directors and employees are to serve another
year.

H . T . B L A C K B U R N , C a s h ie r
J A M E S F. H A R T, A sst. C a sh ie r

Tipton, Iowa, has been selected as the place for hold­
ing the Group Eight Bankers Convention next spring.
Davenport, Iowa, banks recently paid out in divi­
dends $49,250, the greater part of which represented
4 per cent quarterly payments.
It is probable that Wright, Iowa, is to have a new
bank.
A new bank known as the Wellston Savings Bank
opened up for business at WHlston, Iowa, a new town
on the Milwaukee, this side of Grace Hill.

The Webster County Trust & Savings Bank, a new
banking institution, Fort Dodge, Iowa, has been or­
Otto Koerth has resigned his position in the Ionia
ganized by prominent Fort Dodge business men. O. bank and accepted a position in Fredericksburg, Iowa.
M. Thatcher, of Luther, Iowa, will be president; M. F.
The Scandinavian-American National Bank, Minne­
Healy, vice-president; Dan G. Stiles, of Des Moines,
apolis,
has been approved as reserve agent for the First
cashier.
National Bank, Estherville, Iowa.
Roy A. Downs, cashier of the Osceola National
The Des Moines National Bank, Des Moines, Iowa,
Bank, Osceola, Iowa, received an official communica­
tion recently advising him that his request for a U. S. has been approved as reserve agent for the Leavitt &
postal savings department had been duly granted and Johnson National Bank, Waterloo, Iowa, also the
that the Clarke County Postal Savings account now in Farmers National Bank, Inwood, Iowa.
Des Moines would be transferred to Osceola at once,
The Citizens Savings Bank of Letts, Iowa, now has
all of which is a very creditable recognition for the deposits reaching almost to the quarter million mark,
Osceola National Bank.
and as the result of an advertising campaign for new
accounts, a great deal of the increase is new business.
Being equipped with every modern facility since mov­
ing into their new building they can solicit accounts in
competition with larger banks.
4^TAN IOVA BANK increased i t s deposits
« » fo r ty per cent in one year with my
Advertising Service for Banks. The
cost was no greater than for the year
previous. This Bank w i l l t e l l you that
CRADDICK SERVICE i s an investment. I f
you w i l l ask for information I w i l l
g la d ly send f u l l d e t a i l s with an es­
timate for your 'cons ide rat ion.

Public A ccountant and Auditor

H. B. CR A D D ICK

Banks and Corporations Audited

C. A. Mast,

Financial Advertising
1003-1006 First Nat’l Bank Bldg.,


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Federal Reserve Bank of St. Louis

Minneapolis, Minn.

REFERENCES:
BANKS IN DAVENPORT

|%

______

_

.

.

U3V6lip0rtj IOW9a

THE

August, 1915

NORTHWESTERN

BANKER

47

THE GERMAN SAVINGS BANK
OF

D A V I Î N l'O U T , I O W A

With adequate equipment and exceptional
facilities for handling business in every depart­
ment of banking. The German Savings Bank is
in a position to give its patrons the best service.
If you contemplate making a change in your
banking connections, or think of opening a new
account, we would be pleased to confer with
you in person or by letter.

Capital Stock - - $ 600,000.00
Surplus - - 500,000.00
Undivided Profits 338,000.00
Deposits Over
11,000,000.00

Commercial Accounts

Savings Deposits

OFFICERS
CHAS. N. VOSS, Pres.
H. O. SEIFFERT, Vice-Pres.
ED. KAUFMANN, Cashier

OFFICERS
F. C. KROEGER, Ass’t Cashier
O T T O RIECHE, Ass’t Cashier

The residents of Monticello, Iowa, have per capita
deposits of $1,263. The combined deposits of the Mon­
ticello State and the Lovell State Banks amount to $2,591,765 and the population of Monticello is 2,043. This
is a splendid showing and puts it well towards the top
of the list in Iowa.
The annual meeting of the board of directors of the
Macedonia State Bank, Macedonia, Iowa, was held re­
cently, at which time the following officers were elect­
ed: Willoyughby Dye, president; T. J. Young, vicepresident; Frank Galloway, cashier; C. R. Aggson, as­
sistant cashier. Also, a dividend of 8 per cent was de­
clared out of the earnings for the year, and $1,900 added
to the surplus fund, increasing same to $8,000.

C. J. Martin, president of the First National Bank,
Churdan, Iowa, died at his home in Jefferson, Iowa, on
July 7th.
The Mechanics & Metals National Bank, New York,
N. Y., has been approved as reserve agent for the First
National Bank, Sioux City, Iowa.
A change of management took place recently in the
Security State Bank of Rugby, N. Dak., at which time
Tom Torson was elected cashier. O. *T. Tofsrud will
continue as president of the bank, but Ed. Seel, Nels
Romness and John Kellsvig will retire, having sold
their stock to H. F. McClure and other capitalists of
Litchfield, Minn.

The Cedar Rapids National Bank
Cedar Rapids, Iowa
United States Depositary
Statem ent of Condition, Close of B u sin ess, M arch 4,1915
C om ptroller's Call
L IA B IL IT IE S .

RESOURCES.
L o a n s a n d d i s c o u n t s ............................................
$ 5 ,2 6 2 ,8 5 8 .1 7
O v e r d r a f t s ..................................................................................
1 ,8 0 4 .8 6
U n i t e d S t a t e s 3 % a n d 4 % b o n d s , a t p a r .......
3 2 0 ,0 0 0 .0 0
O t h e r b o n d s .............................................................................
4 7 2 ,7 6 1 .5 6
S t o c k F e d e r a l R e s e r v e B a n k .....................................
8 ,0 0 0 .0 0
R e a l e s t a t e ( b a n k b u i l d i n g ) .......................................
1 6 0 ,0 0 0 .0 0
C a s h a n d d u e f r o m b a n k s ............................................. 2 ,8 6 2 ,1 8 6 .3 8

......................................... $ 3 0 0 ,0 0 0 .0 0
C a p i t a l ....................................................................
......................................................
100, 000.00
S u r p lu s ....................................................................
..........................................
5 2 ,0 3 3 .7 1
U n d i v i d e d p r o fi t s , n e t ..................................
C i r c u l a t i n g n o t e s ..........................................
..........................................
3 0 0 ,0 0 0 .0 0
D e p o s i t s ......................
8 ,3 3 5 ,5 7 7 .2 6

$ 9 ,0 8 7 ,6 1 0 .9 7

$ 9 ,0 8 7 ,6 1 0 .9 7

T h e C e d a r R a p i d s N a t i o n a l B a n k , lo c a t e d in t h e g r a i n a n d l i v e s t o c k c e n t e r o f I o w a , o f f e r s t o b a n k s , b a n k e r s ,
c o r p o r a t i o n s arid i n d i v i d u a l s t h e s e r v i c e s o f a t h o r o u g h l y e q u ip p e d i n s t i t u t i o n .

ESTABLISHED
A s a Private Bank 1877
A s a National Bank 1887
38 YEARS
Of Continuous, Conservative and S u ccessfu l Banking
OFFICERS
K E N T C.
R A L P H V A N V E C H T E N , P r e sid e n t
HOM ER
G E O . B . D O U G L A S , V ic e -P r e s id e n t
M A R T IN
E D H . S M IT H , V ic e -P r e s id e n t
A N N A R.
G L E N N M . A V E R I L L , V ic e -P r e s id e n t
C H A S . C. K U N I N G , C h ie f C le r k

F E R M A N , C a s h ie r
P I T N E R , A s s t . C a s h ie r
N E W C O M E R , A s s t . C a s h ie r
S M O U S E , A u d ito r

RESERVE AGENT FOR NATIONAL BANKS


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Federal Reserve Bank of St. Louis

THE

48

NORTHWESTERN

The Packers National Bank
Union Stock Yards

s2^oiooo.oo South Omaha Esta« 9 ihed
Proceeds of Live Stock Shipments
Collected and R e m i t t e d
JOHN F. COAD, President
WM. J. COAD, Vice-President

H. C. NICHOLSON, Cashier
CHAS. SCHAAB, Asst. Cashier

tiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiiiimiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiimiiiiimiiiiiiiiimniiiiiiiiiiiimiiiiiiiimiit

N EBR ASK A
Omar Nutzman has accepted a temporary position
in the bank at Nehawaka, Neb., taking the place of
Frank Boedeker, who is off duty on account of sickness.
The Bank of Glenvil, Neb., will soon erect a new
bank building. .
The stockholders of the Henry State Bank, Henry,
Neb., met recently and declared a 10 per cent dividend
and re-elected all of the old officers.
The Fremont State Bank, Fremont, Neb., will soon
have much improved quarters, as the banking room is
to be generally rearranged, and new fixtures are to be
installed.
William J. Lewis, who has been cashier of the
Farmers State Bank at Rising City, Neb., for the past
few years, resigned his position and was succeeded by
A. R. Brock, of Blair.
The First National Bank at Scottsbluff, Neb., will
erect a fine new building in the very near future.
Chas. W . Burson will be. the cashier of the new
Farmers State Bank of Cozad, Neb.
The fixtures for the -Security State Bank, Ansley,
Neb., have been installed in the Dan Hagin corner
building, now owned by the bank.
Robert Schwah has resigned his position as assistant
cashier of the Bank of Nickerson, Neb., and Arthur
Anderson has taken his place.

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HOGGSON BROTHERS
7 E a s t 44th S t., N ew Y o rk
NEW YORK
BOSTON
NEW HAVEN
CHICAGO
ATLANTA


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Federal Reserve Bank of St. Louis

BANKER

August, 1915

L. B. Carraher has sold his interest in the Stamford
Bank, Stamford, Neb., and his resignation as cashier
took effect July 1st.
J. J. Allen has resigned his position as cashier of the
First National Bank at Burwell, Neb.
The First National Bank, of Oshkosh, Neb., has been
converted from a national bank to a state bank, and
hereafter will be known as the First State Bank of
Oshkosh. The officers are unchanged, and the bank’s
capital remains at $25,000.
John Frostrom, cashier of the Corn Exchange Bank
of Spencer, Neb., has sold his interest in the bank to
Charles Cook, of Wausa.
Work on the interior of the Farmers State Bank
building, Holdredge, Neb., has begun.
The Bank of Commerce and the Farmers State Bank
of Louisville, Neb., have consolidated.
Ethel Peard resigned her position in the Bank of
Phillips, Neb., recently.
The contract for the new bank building of the Potter
State Bank, Potter, Neb., was given to C. P. Grant, of
Sidney.
A worthy example has been set by the Commercial
National Bank, Fremont, Neb., in the improvement of
an unused portion of the lot in the rear of the Com­
mercial National building by converting it into a small
graveled park with flower-bed center.
C. C. Hansen, of Grand Island, Neb., who recently
purchased the Aurora National Bank, Aurora, Neb.,
will change the bank from a national to a state, when
he and his son secure possession, August 1st.
George Krittenbrink recently purchased the Frank­
lin County Bank of Hildreth, Neb., of which he is
active president and owns the controlling interest.
A new bank has been organized at Haigler, Neb.
The First National Bank of Holdrege, Neb., have
increased their deposits $172,459.13 since June 23, 1914.
The Bank of Unadilla, Neb., has been redecorated.
Omaha bank clearings, which are generally accepted
as a good business barometer, show a gain of over
$3,000,000 for one week, in comparison with last year.
The Security State Bank of Johnstown, Neb., capital
stock $17,500, has obtained a charter from the Nebraska
banking board. P. E. Wantz is president; A. Scattergood, vice-president, and L. R. Ness, cashier.
J. A. Gleason was elected vice-president of the Farm­
ers State Bank of Fullerton, Neb., recently.
Louis F. Kovar recently disposed of his stock in the
Stanton National Bank, Stanton, Neb., and has pur­
chased the majority of the stock in a bank at Lidderdale, Iowa.
R. C. King has disposed of his interests in the Frank­
lin County Bank, Hildreth, Neb.
Arthur Morris has accepted a position in the Wauneta Falls Bank, Wauneta, Neb.
A new bank has been organized at Gurley, Neb. The
stockholders are C. E. Weyerts, his wife and son and
Harm Poppen.
John Allen has severed his connections with the
First National Bank of Burwell, Neb.

August, 1915

THE

NORTHWESTERN

BANKER

49

The Omaha National Bank
Omaha, Nebraska
Established in 1866

Capital $1,000,000.00

Surplus and Profits $800,000.00

Iow a Bank A ccounts Invited
OFFICERS
J. H. M IL L A R D , President
W M . W A L L A C E , Vice-President
W . H. BUCH OLZ, Vice-President
W A R D M. BURGESS, Vice-President
J. DeF. R IC H A R D S, Cashier
F R A N K B O Y D , Assistant Cashier
B. A . W IL C O X , Assistant Cashier
E Z R A M IL L A R D , Assistant Cashier

Charles Arnot, has acquired an interest in the First
National Bank, Scribner, Neb., and will succeed J. L.
Reinard, as cashier.
L. B. Carraher has sold his interest in the Stamford
Bank, Stamford, Neb., to T. A. Carraher, the president,
and has tendered his resignation as cashier.

most cases that the result is being achieved by keeping
expenditures for upkeep of plant down to a level which
is little short of niggardly. Prosperity will not truly
have returned to the railroads until their outlay upon
plant can be liberal and their efficiency can be thereby
increased.
The bank clearings of the country constitute another
GROUP NUMBER FOUR, NEBRASKA BANK­ gauge that does not yet encourage any more than an
.average amount of enthusiasm over the business out­
ERS, MEET IN HASTINGS.
An exceedingly profitable meeting of Group Number look. One does find cities where the clearings are
Four, Nebraska Bankers, was held at Hastings re­ running well ahead of the figures for the corresponding
cently, at which time over two hundred bankers were periods of last year, but these are offset by conditions
present. Holdrege was chosen as the convention city
(Continued on page 51.)
for 1916. The officers elected were: B. F. Hastings,
of Grant, president; C. L. Lewis, of Fairfield, vicepresident, and C. A. Phillips, of Cambridge, secretarytreasurer.

C U T DOWN YOUR
M A IL IN G COSTS

THE BUSINESS OUTLOOK ACCORDING TO
THE BANK OF NORTH AMERICA,
PHILADELPHIA, PA.
If the steel industry be a true gauge of prosperity,
then business conditions in general are on an upward
trend. The volume of orders from domestic as well as
from foreign sources which the American steel mills
are receiving, is causing them to operate at full capac­
ity. In fact, the principal steel producer of the country
has found its orders of late, weeks to exceed its capac­
ity, and it has issued orders to expedite the completion
of its big new plant at Duluth, which will have a capac­
ity of hundreds' of thousands of tons a year. Hand in
hand with these swelling orders, has come the oppor­
tunity to advance prices steadily and rapidly, a logical
enough proceeding, since the margin of profit in the
past year or so has been altogether too small. If it be
true, therefore, that good times for the steel makers al­
ways spread, until they permeate practically every line
of trade, then the halting conditions that prevail in a
number of industries may be regarded as already
doomed.
But there are other measures of prosperity not in
entire harmony with conditions in the steel industry.
Railway earnings, for instance, do not afford much of a
basis for large expectations. On the contrary, nearly
every road in the country is still having to practice the
policy of rigid economy which was forced upon it a
year or more back by declining earnings, and although
many of the roads have been able to squeeze out better
net income for themselves than they were able to do in
the corresponding months of 1914, the probability is in

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Federal Reserve Bank of St. Louis

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50

THE

NORTHWESTERN

BANKER

August, 1915

*Ihe Merchants National Bank
of

O MA H A ,

N E B R A S K A

L— ----------------------------------------------------------------------------------------------------------------------

2775

Capital

Luther Drake President

Frank T. Hamilton, Vice-Pres.

F. P Hamilton, Cashier

B. H Meile, Assistant Cashier

Surplus
U n d iv id ed Protits
D eposits

ACCOUNTS SOLICITED

1 5 0 0 ,(0 0
15 0 0 ,0 0 0
-

-

119 3,3 5 1 .0 3
$ 7 ,1 6 3 ,3 2 0 .0 9

U. S. DEPOSITORY

—-----------------------------------------------------------------------------------------------

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plus $12,000; and the Farmers State Bank of Rothsay,
Minn., Wilkin county, capital and surplus $18,000.
M IN N E SO T A
Application for a charter for the Gateway State Bank,
Gateway, Minn., to be located in Temple Court, was
.....................................................m in i......................................................... ...........................................................................iiiim iim iiiiim iiiiiiT
filed recently. Roy Quimby is named as president;
Work has been started on the new Farmers & Mer­ Knut Ekman, now cashier of the Calhoun State Bank
chants State Bank building at Ada, Minn. The build­ on Lake street, is to be the cashier. The bank will
start with a capital stock of $50,000, which will be in­
ing will be thirty by sixty-five feet, one story.
creased within a year to $100,000.
A second bank will probably be started in Hendrum,
A new bank known as the Peoples Bank will be
Minn., in the near future. With the banks already in
operation and those that have applied for charters this started in Newfolden, Minn., soon. Wood, of the First
National of Warren, and W. F. Powell, also of that
will make nineteen banks in the county.
city, are chief stockholders.
O.
W . Ludsten, of Hutchinson, was elected president
Emil A. Boie, of Rochester, Minn., well known in
of the Minnesota State Bankers Association.
banking circles of the state, has accepted the position
Samuel T. Johnson, public examiner and superin­ of assistant cashier of the National Citizens Bank,
tendent of banks for the state from 1902 to 1914, died Mankato, Minn.
recently at the home of Henry Wolfer, at St. Peters­
Joseph Wocken has taken up his duties as assistant
burg, Fla.
cashier of the State Bank of Cold Spring, Minn., filling
Four new state banks were chartered recently by A. the place of N. A. Welle, resigned.
H. Turrittin, state superintendent of banks. The new
A. F. Meyer has accepted the cashiership of a bank
banks are the Farmers & Merchants State Bank, Fer­ in Westbrook, Minn.
gus Falls, capital and surplus $30,000; Markville State
Harry Myers, cashier at the Palisade State Bank,
Bank in Pine county, capital and surplus $12,000; First
Palisade,
Minn., was married recently to Miss Louise
State Bank, Lockhart, Norman county, capital and surWessel.

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P a ss Books
Coin Purses
Pouches
B ill Folds
W a lle ts , Etc.

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i

Quotations

PARAMOUNT LEATHER GOODS COMPANY
M a n u fa c tu r e r s o f

LEATHER SPECIALTIES
467 Broom e St.
N ew York City


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Federal Reserve Bank of St. Louis

A new bank known as the Produce Exchange Bank
of St. Paul, Minn., started up for business recently on
the northwest corner of Tenth and Jackson streets.
A new bank building is being erected for the State
Bank of Halstad, Minn.
A new bank has been organized at Duluth, Minn.,
to be known as the Mercantile Bank. F. S. Graham
will be president and H. C. Niblock cashier. The pro­
posed institution is expected to open August 1st.
The White Rock State Bank, White Rock, Minn.,
capital stock $10,000, with G. O. Miller, president, T.
E. Glson, cashier, has been given a charter.
Roy Quimby has organized a new bank in Augusta,
Minn. A new building will be erected to be completed
and ready for occupancy by August 15th this year.
W'. J. Browne, who has been for the past sixteen
years connected with the Hancock National Bank,
Hancock, Minn., and who has been president of the
institution, severed his connection recently and will
move to Minneapolis.

August, 1915

THE

NORTHWESTERN

BANKER

51

M IN N E A P O L IS
First and Security National Bank
9 I 'HIS bank maintains a thoroughly organized department under the active supervision of
the officers, for the handling of bank accounts. Your account is appreciated and we as­
sure you that all business entrusted to us will receive prompt, accurate and intelligent service.

First and Security National Bank
MINNEAPOLIS
R esou rces $ 6 0 „0 0 0 „0 0 0 .0 0

Milan, Minn., will have a new bank known as the
Farmers & Merchants State Bank. The stockholders
are J. S. Johnson, A. J. Johnson and L. O. Johnson, all
of Granite Falls, Minn., where they are interested in
the Granite Falls Bank.
A new bank known as the Farmers State Bank has
been incorporated at Newport, Minn. The bank will
start business early next fall with a capital of $25,000
and surplus of more than $8,000.
The Merchants State Bank of St. Hilaire, Minn., has
been organized, with a capital stock of $12,000. K. O.
Gigstad is president; H. S. Danen, vice-president; J. S.
Roy, vice-president, and Olaf Aaberg, cashier.
D. B. McDonald, of Duluth, Minn., has been chosen
president of the American Exchange Bank of Virginia,
Minn., to succeed the late W . H. Cole.
The Cedar Rapids National Bank, Cedar Rapids,
Iowa, has been approved as reserve agent for the First
National Bank, Adams, Minn.
First National Bank, St. Paul, Minn., has been ap­
proved as reserve agent for the First National Bank,
Lyle, Minn.
The Capital National Bank, St. Paul, Minn., has been
approved as reserve agent for the Fairmont National
Bank, Fairmont, Minn.
THE BUSINESS OUTLOOK ACCORDING TO
THE BANK OF NORTH AMERICA.
(Continued from page 49.)
in other communities where the reverse situation is
found. On the whole, so far as bank clearings afford
information on the subject, the country may be said to
be marking time still. The consoling thought, however,
should not be overlooked, that bank clearings and rail­
road earnings are a good deal better test of conditions
of the recent past, than they are of conditions of the
present or of the immediate future. Checks exchanged
by the banks come from completed transactions, not
from current ones. Railroad earnings come from pay­
ments for delivery of. finished goods. The activity of
the steel industry is after all a better symptom of
things yet to come, since all this continued operation of
the mills means purchases by the employees, shipments
for the railroads, and dividends for stockholders, in the
months to come.
Of course, the war is at the bottom of a good deal of
this activity of the steel mills. The export business of
the American steel manufacturers constitutes, today,

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Federal Reserve Bank of St. Louis

probably one-third of their entire volume of orders.
Munitions of war constitute, naturally enough, the
major portion of the goods ordered from the other side,
although the big orders for rails already received, and
to be received, from Russia, go to construct a transpor­
tation system, to a new port on the north coast of the
Russian Empire, which will be of permanent value,
long after the immediate military necessity for its con­
struction shall have passed. On bars, which are used
in the making of shells, most steel companies are sold
ahead, for four or five months to come. Steel produc­
ers, however, state that the demand from domestic con­
sumers is steadily increasing. The railroads, it is true,
which, in the past, have made and unmade conditions
in the steel industry, are not buying with really normal
vigor, but this may be set down, for the time being, as
an almost satisfactory occurrence, since steel producers
would be taxed, just now, to meet the needs of railroads
at anything like a normal rate.
Turning from the railroads to some of the other in­
dustries, one finds on the whole a good deal less
activity, except where war orders are acting as an
industrial stimulant. The shoe industry is, perhaps,
the least inspiring of any of the trades at the present
time. A fair guess would be that factories are not
operating at any better than 60 per cent of the normal
rate, and fall orders have been disappointing so far.
This is one of the few industries which has had little
occasion to be thankful for such war orders as it has
received. Most of the goods bought on this side for
the European belligerents have been a source of huge
and even abnormal profit to the American vender, but
the army shoes which our factories have made have
been produced, so it is stated, on comparatively narrow
margins. The orders were to be valued for the most
part only because they enabled manufacturers to keep
plants running, and thus to care for overhead charges,
at a time when business would otherwise have been
profoundly dull.
In the textile industry, the fine cotton goods mills are
doing well. Some of the New Bedford plants are oper­
ating at the highest capacity in years. The worsted
mills, on the other hand, have been quiet and have
actually been suffering for a lack of orders. In some
instances, they have met with the poorest aggregate of
orders in twenty years. They have some hopes, how­
ever, from the new heavyweight season which is get­
ting under way, and there are prospects of a big war
order which will help some of them out in the near
future.

52

THE

NORTHWESTERN

jf iu ii iiiii iiii iiiii iiii iiii iiiii iiii iiiii iiii iiii iiiii iiii iiiii iir iiii iiii iiii iiiii iiii iiiii iiii iiiii iiii n iiii iiiii iiii iiiii iiii iiii iiiii iiii iiiii iiii iiiii iiii ir r -

SOUTH

DAKOTA

BANKER

August, 1915

The Bank of Viborg, S. Dak., increased their capital
stock recently from $10,000 to $20,000.
Julia Boyd has accepted a position in the bank at
Hetland, S. Dak.

liiiiiiiin im im iim iiiim itiiH iiitiiiiiiiiiiiiiiiiiiiiiiiiiiii iiii iiii iiiii iiii iiiii iiii iiiiH ii iiii iiii iiiii iiii iiiii iiii iiii iiiii im ii iiiii iiii iiiii im ii n

William Zutz, a prominent young banker of Burke,
S. Dak., and Miss Elizabeth Hale were married re­
cently.
Ed. J. Theisen, who has been the assistant cashier
of the Security State Bank of Artesian, S. Dak., for
several years, has tendered his resignation.
The Peoples State Bank of Howard, S. Dak., in­
creased its capital from $25,000 to $50,000, making it
the largest capitalized bank in the county.
Irving D. Lindly, cashier of the Security State Bank
of Bonesteel, S. Dak., was married recently to Miss
Margaret Evans.
Pearl Beavers has resigned her position in the First
State Bank, Jefferson, S. Dak.
A new bank has been organized at Beardsley, S.
Dak., known as the German State Bank, with a capital
stock of $15,000. T. M. Wallace is president; James
R. Jordan, vice-president, and W . M. Schlingen,
cashier.
The Security State Bank of Roslyn, S. Dak., has
awarded the contract for the construction of a new
bank building to Haselan & Carlson, of Ortonville,
Minn.

Two changes have been made in Brookings’ banking
circles recently. T. L. Chappell, cashier of the Farmers
National Bank, disposed of his interests to H. F. Haroldson, formerly of the First National Bank, and Mr.
Haroldson becomes cashier of the Farmers National.
E. L. Cobel, of Fairfield, Neb., acquired an interest in
the First National and has been elected cashier.
E.
Dudacek has accepted.a position with the Farmers
State Bank at Pukwana, S. Dak.
The Mobridge State Bank, Mobridge, S. Dak., has
been transformed into the First National Bank of Mo­
bridge and its capital stock increased from $25,000 to
$50,000. The bank is constructing a new $18,000 bank
building, into which it will move as soon as the struc­
ture is completed.
E.
S. Stensrud has accepted a position in the Farmers
.State Bank of Bison, S. D ak..

The Farmers State Bank of Sisseton, S. Dak., one of
the oldest banking establishments in Roberts county,
has arranged to remove from Sisseton to Hammer, a
new town started in Roberts county about a year ago.
The First National Bank, Rapid City, S. Dak., moved
into their new building recently. The construction is
fire proof as far as that is possible and the appearance
of the banking department is dignified and impressive.
L. V. Burke, cashier of the Home National Bank, of
The First National Bank, St. Paul, Minn., has been
Dell Rapids', S. Dak., was married recently to Miss
approved as reserve agent for the First National Bank,
Mary Ethel Fitzpatrick.
Morristown, S. Dak.
P.
R. Phinney and S. B.. Crothers recently purchased
The Continental & Commercial National Bank, Chi­
the Hamlin County Bank, Hayti, S. Dak.
cago, 111., and the Northwestern National Bank, Minne­
Work is progressing nicely on the new Vivian State apolis, Minn,, have been approved as reserve agents
Bank building, Vivian, S. Dak.
for the First National Bank, Mobridge; S. Dak.

NORTH

DAKOTA

Deposits have increased practically $500,000 in the
banks of Grand Forks, N. Dak., during the past year.
Othar K. Jensen has purchased the interests of S.
M. Sorenson in the First State Bank of Niobe, N. Dak.
Mr. Jensen has also been elected president of the Niobe
bank.
The interests of the Merchants National Bank of
Mandan, N. Dak., held by the Parkin estate and Cap­
tain I, P. Baker, of Bismarck, have been purchased by
August Timmerman.
James Zelenka, of Conway, has accepted a position in
the First State Bank of Fordville, N. Dak.
The First National Bank of Springfield, S. Dak., was
recently sold to N. J. Brockman and son, of Sioux Falls,
and J. H. Kruschke and son, of Canastota, the new
owners to take immediate possession.
The Belfield Bank officers met recently at Belfield,
N. Dak., and elected W . L. Richards, president; W . T.


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Federal Reserve Bank of St. Louis

Hendron, vice-president; John Gardner, cashier, and
C. J. Parker, assistant cashier, for the ensuing year.
Glenn McDougall has been elected cashier of the
Security Bank at Temple, N. Dak., recently organized
by the officers of the First National Bank of McVille.
Farmers in the vicinity of Venlo, N. Dak, have or­
ganized what will be known as the Farmers State Bank
of Venlo. The new bank will have a capital stock of
$10,000. The incorporators are Nick Stoffel, Carl
Christmann and B. F. Kratt.
H. A. Weld, who for the past four years has been as­
sistant cashier at*the First National Bank, Carrington,
N. Dak., has severed his connection with that institu­
tion.
The following banks of North Dakota have been in­
corporated recently : First State Bank of Hensler, and
First State Bank of Price, incorporators, A. N. Beiseker, Harvey, N. Dak., C. G. Kapelovitz, Manning, N.
Dak., and F. C. Wick, Center, N. Dak.; Farmers State
Bank of Center, incorporators, C. S. Barrows, of Halliday, N. Dak., D. A. Barrows and S. Barrows, of Chan­
dler, Minn. ; Center State Bank and Fort Clark State
Bank, incorporators, O. L. Engen and O. A. Leer, of
Fargo, and A. L. Garness, of Reagan, N. Dak.

August, 1915

THE

NORTHWESTERN

SOME DEPOSITS ACCORDING TO STATE­
MENTS OF JUNE 23D AND JULY 6TH.
IO W A. .
Farmers & Traders Savings Bank, Hills­
boro ..........................................................$
100,006.22
The First National Bank, Marengo........
290,930.67
Iowa State Bank & Trust Co., West
L ib e rty ................................................
325,301.23
Mitchell County Savings Bank, Osage..
329,064.85
German Savings Bank, Davenport.. . . . . 10,795,642.39
German Savings Bank, Berlin.................
120,122.39
State Savings Bank, Missouri V a lley.. . .
339,880.65
Second National Bank, Dubuque............ 1,108,869.33
Dubuque Savings Bank, Dubuque..........
975,821,26
Citizens National Bank, Storm L ak e.. . .
487,719.84
The First National Bank, Indianola.. . .
239,668.32
Oskaloosa National Bank, Oskaloosa.. . .
521,917.40
Union Savings Bank, Oskaloosa............
296,203.99
The First National Bank, Sheldon..........
851,627.28
The First National Bank, Davenport.. . . 2,230,760.09
Iowa National Bank, Davenport.............. 2,329,015.22
The First National Bank, Coon Rapids..
249,242.53
The City National Bank, Clinton.......... 2,680,132.59
653,197.43
The First National Bank, L yon s,............
Lyons Savings Bank, Lyons...................
1,377,562.99
First National Bank, Sioux City............ 6,188,709.49
Des Moines National Bank, Des Moines 6,444,039.50
Live Stock National Bank, Sioux City.. 2,501,205.49
Security National Bank, Sioux City........ 3,778,108.15
The National State Bank, Mt. Pleasant..
473,345.89
The City National Bank, Council Bluffs 1,076,755.19
Lyon Co. National Bank, Rock R apids..
379,781.53
Iowa National Bank, Des Moines.......... 7,743,660.36
Des Moines Savings Bank, Des Moines 2,507,824.52
Hardin Co. National Bank & Savings
Bank, Eldora .........................................
577,194.46
Valley Savings Bank, Des Moines.......... 1,185,348.39
Valley National Bank, Des Moines___ 2,344,264.73
The American Savings Bank, Maquoketa
967,362.68
Cascade State Bank, Cascade............. : . .
771,626.40
Union Savings Bank, Wilton Junction..
507,335.59
Farmers Savings Bank, R o la n d ...........
308,286.29
Hillsboro Savings Bank, Hillsboro........
153,771.47
Century Savings Bank, Des Moines___ 1,318,553.93
Iowa State Savings Bank, Lyons..............
653,223.43
Farmers Savings Bank, C le rm o n t......
114,100.93
The First State Bank, Greene..................
577,917.17
The Alta State Bank, A lta...............................318,328,13
The Burt National Bank, B u rt.. . . . . . . .
185,949.45
The First National Bank, Ruthven........
264,259.36
New Sharon State Bank, New Sharon..
148,139.53
The First National Bank, Arm strong...
236,011.58
First National Bank, Alta.................
295,448.52
Ottumwa National Bank, Ottumwa___
1,201,020.53
Wapello Co. Savings Bank, Ottumwa..
421,612.90
German State Bank, Keystone...............
278,436.49
The Monticello State Bank, Monticello.. 1,721,963.72
The Iowa Savings Bank, Fort D odge___
749,108.26
Battle Creek Savings Bank, Battle Creek
321,157.79
Iowa State Bank, H u l l .............................
251,589.08
The First National Bank, Everly............
294,908.48
The German State Bank, D yersville.. . .
794,162.01
The Waterloo Savings Bank, W aterloo..
888,150.58
Peoples Trust & Savings Bank, Clinton 3,647,752.44
NEBRASKA.
The U. S. National Bank, Omaha..........$i 1,349,013.80
The Merchants National Bank, Om aha.. 7,236,376.76
Stock Yards Nat’l Bank, South Omaha.. 6,908,105.05

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Federal Reserve Bank of St. Louis

BANKER

53

Saunders Co. National Bank, W a h o o .. . .
420,942.46
Nebraska State Savings Bank, W a h o o ..
191,964.18
Live Stock National Bank, South Omaha 2,374,928.38
First National Bank, Hastings...............
1,525,678.56
MINNESOTA.
The Merchants National Bank, St. Paul.$18,670,177.11
Fergus Falls National Bank, Fergus Falls
920,437.79
The First National Bank, Brainerd.......... 1,169,623.54
First & Security Nat’l Bank, Minneapolis 45,502,277.00
Northwestern Nat’l Bank, Minneapolis.. 32,492,538.98
NORTH DAK O TA.
The First National Bank, F argo............ $ 3,074,136.91
The First National Bank, Grand F orks.. 1,416,170.02
SOUTH DAK O TA.
84,849.43
The First National Bank, Midland..........$
The First National Bank, Coleman..........
205,548.32
The Citizens State Bank, Colman.................................. 101,115.73
Sioux Falls Savings Bank, Sioux Falls.. 2,095,379.60
Security National Bank, Sioux F alls.. . . 2,478,444.29
CHICAGO.
Continental & Commercial Nat’l Bank. .$190,774,341.59
Corn Exchange National Bank.............. 63,989,976.46
The First National B ank......................... 121,828,085:36
The Live Stock Exchange Nat’l Bank.. 10,960,019.41
The National Bank of the Republic.. . . 23,062,353.54
NEW YO RK CITY.
The Chase National Bank...................... $179,462,257.36
Guaranty Trust C om pany..................... 281,005,094,81
The Hanover National Bank................ 129,480,788.95
The Mechanics & Metals National Bank 124,666,435.49
The National Park B a n k .................... 122,448,526.70
The Seaboard National Bank................. 39.311,433.73
MISCELLANEOUS.
The Bank of North America, Phila­
delphia, Pa.........................
$15,333,891.12
The Bank of Pittsburgh, Pittsburgh, Pa. 23,588,382.34
McINTOSH, S. D.,

MAY HAVE TW O N EW
BANKS.
Propositions are under way whereby two state banks
may be organized at McIntosh, S. D., in the near
future, bringing the banking facilities up to their
former standard of three banks. Mr. Ray E. Pope will
probably open up the First State Bank, which went
out of business a year ago. Attorney Frank Bonzer
and H. W . Batzer, of the Morristown State Bank, are
making arrangements for the opening of another bank.
F. L. Bonzer will be cashier of the new institution.
SOUTH DAKOTA BANKS HAMPERED BY
LIMIT ON DEPOSITS.
A decided difference between the state and national
banking departments appears to be coming through
a recent order of the comptroller of the currency,
which limits national bank deposits with state banks
at 10 per cent of their capital and surplus. This is
declared to place the limit at a point where the national
banks cannot carry enough in the state banks at the
clearing places to meet their exchange which occurs
in daily business transactions and in effect means a
withdrawal of exchange business between the two
classes of banks. On account of this alleged discrim­
ination the state banking department proposes a like
order, limiting the amount which a state bank can
deposit with a national bank to 10 per cent of their
capital and surplus. This would in effect mean the
withdrawal of state bank deposits from the national
banks, and leave so small a sum open as to be negligible
in the banking business.

THE

54

NORTHWESTERN

BANKER

August, 1915

Representative Iowa Banks
These banks have special facilities for handling collections and any other business entrusted to them
ALGONA— County Savings Bank.
Capital, $50,000. U ndivided Profits,
$21,000. D eposits, $850,000.
E. J. M urtagh, Pres., C. B. H utchins,
V ice-P res., C. B. M urtagh, Cash., W . H.
B ailey and W . K . Schoby, A ss’ t Cash.

ALGONA— First National Bank.
Capital, $50,000. Surplus and Undi­
vid ed Profits, $13,400. D eposits, $525,-

000.

W m . K. F ergu son , Pres., E. V. S w ot­
tin g, V ice-P res., E. E. Connor, Cash.

FANORA— Guthrie County Nat’ l Bank.

KLEMME— State Savings Bank.

Capital, $50,000. Surplus, $10,000. U n­
divided Profits, $7,740. D eposits, $395,-

Capital,
$15,000.
Surplus, $15,000.
U ndivided Profits, $5,000. D eposits,
$ 200, 000.
W . R. B loom , Pres., D. D. R oss and
W m . K atter. V ice-P res., P. M. G riesemer, Cash., F. J. W en ck , A ss’ t Cash.

000.

l

M. M. R eyn olds. Pres., H. L. M oore,
V ice-P res., W ade Spurgin, Cash., T. R.
Sw anson, A ss’ t Cash.

MARSHALLTOWN—Marshalltown State. ROCKFORD— R ockford State Bank.
Capital, $100,000. Surplus and Profits,
$100,000. D eposits, $1,530,000.
A. F. Balch, Pres., G. A. Turner, V ice Pres., C. C. Trine, Cash., R . R. B ra d ­
bury, A ss’ t Cash., H arry W . Jennings,
A uditor.

Capital, $50,000. Surplus, $10,000. Un­
divided Profits, $85,000. D eposits, $475,000. F. C. Johnson, Pres., B u rton Carrott, V ice-P res., B. A. W alla ce, Cash.,
A. Jenkinson, A ss’ t Cash., P. C. Y ocum ,
A ss’ t Cash.

CITY— Live Stock National Bk.
MONTICELLO— The Monticello St. Bk. SIOUX
L ocated at Sioux C ity S tock Yards.

ADEL—Adel State Bank.
Capital, $50,000. U ndivided Profits,
$20,000. D eposits, $430,000.
S. M. Leach, Pres., R obt. Leach, Cash.

Capital, $200,000.- Surplus and Profits,
$155,000. D eposits, $1,600,000.
H. M. Carpenter, Pres., W m . Stuhler,
V ice-P res., H. S. R ich ardson , Cash., F.
F. B ecker, A ss’ t Cash.

CHEROKEE— First National Bank.

Capital, $100,000.
Surplus, $100,009
Geo S. P arker, Pres., F. L. Eaton,
V ice-P res., C. D. V an D yke, Cash., A.
W , Smith, A ss’ t Cash.

TOLEDO— Toledo Savings Bank.

Capital, $50,000. Surplus, $25,000. D e ­
Capital, $50,000. Surplus, $50,000. U n­ MARENGO— First Nat. Bank & The Iowa
posits, $350,000.
Co. L. & Sav. Bank.
divided Profits, $50,000. D eposits, $900,W . C. W alters, Pres., C. A. B lossom ,
000.
Com bined C apital and Surplus, $100,V ice-P res., M. J. K rezek, Cash., R. W .
W . A. Sanford, Pres., C. Sullivan,
000. C om bined D eposits, $630,000.
Adair. A ss’ t Cash.
Cash., R. G. R odm an, A ss’ t Cash.
F ran k Cook, Pres., Thos. Stapleton,
V ice-P res., J. H. Lew is, V ice-P res., C. C. WASHINGTON— National Bank.
Clem ents, Cash., F. W . G oldthw aite,
Capital, $100,000. Surplus, $100,000.
ELDORA— First National Bank.
A ss’t Cash.
U ndivided Profits, $15,000. D eposits,
Capital, $50,000. Surplus and Profits,
$1,050,000.
$60,000. D eposits, $500,000.
NEVADA— First National Bank.
J. A. Y ou n g, Pres., W m . A. Cook,
W . J. M urray, Pres., W . E. R athbone,
Capital,
$75,000. Surplus,
$50,000.
V ice-P res., W . F. W ilson , Cash., A. W.
V ice-P res., A. W . Crossan, Cash., H. C.
D eposits, $475,000.
M
cCulley,
A ss’ t Cash.
M arks, A ss’ t Cash. U. S. D epository.
J. A. F itch p a trick , Pres., F red C. M c­
Call, V ice-P res., E. A. F a w cett, Cash., W AUKEE—W aukee Savings Bank.
G. A. K love. A ss’ t Cash.
W , G. H arvison, Pres., R ob t. Steven ­
GLADBROOK— First National Bank.
son, V ice-P res., A. A. L eachy, Cash.
Capital, $50,000. Surplus, $25,000. U n­
Capital. $10.000. D eposits. $60,000.
divided Profits, $20,000. D eposits, $375,- NEWTON— Jasper County Savings Bk.
Capital, $100,000. Surplus and Profits, W E B S T E R C IT Y — F ir s t N a tio n a l B a n k .
000..
M artin Mee., Pres.. M. H. R ehder,
$50,000. D eposits, $725,000.
Capital, $100,00.0. Surplus, $60,000.
V ice-P res., E. W . Brauch, Cash., F ran k
J. M. W ood row . Pres., F. M. W ood row ,
W . J. Covil, Pres., E. F. K in g, V ice V ice-P res.. A. E. H indorff, Cash.
K elley, A ss’t Cash.
Pres., W . C. Pyle, Cash., E. E. Mason,
H. O. Cutler. Ass’ t Cashiers.

H AR TLEY— German Savings Bank.
Capital, $20,000. Surplus and U ndi­
vided Profits, $15,666. D eposits, $316,-

000.

J. T. Conn., Pres., W m . T. V oss, V ice Pres., G. E. K n a a ck , Cash., H. P. M ousel,
Asst. Cash.________________________________

NEW TON— First National Bank.
Capital, Surplus and Profits, $140,000.
Com bined D eposits, $675,000.
W . C. B ergm an, Pres., H. B. A llfree,
V ice-P res., O. F. E cklu nd, Cash., L. A.
R u ssell, A ss’ t Cash.

W1NTHROP— W iuthrop State Bank.
Capital, $25,000. Surplus and U ndi­
vided Profits, $10,000.
W . B. H alleck, Pres., A. J. Dunlap,
V ice-P res., E. B rintnall, Cash., H. M.
Bucher, A ss’ t Cash.

“Roll of Honor” Banks in Iowa
The banks listed under this heading have “ SURPLUS AND PROFITS’’ accounts equal to, or exceeding 50 per cent of
their capital stock. They have special facilities for making collections and may be relied upon to give prompt and careful
attention to all business received. Correspondence invited.
Surplus &
Profits

Bank

Capital

FIRST NATIONAL . . .

50,000

HOLSTEIN SAVINGS

60,000

success o f this bank is due to its continuous m a n a ge­
60 , 000.00 The
m ent b y the sam e officers fo r tw e n ty -s ix years on co n ­

MADRID STATE ........

25,000

1 7 , 000.00

T ow n

Our Special Service

C herokee
100,000.00 Send
lo w rates.

item s d irect ’to this bank.

P rom pt returns—«

servative, o b lig in g business principles.

Madrid.

.STATE B A N K .............. 100,000
J______________________ _ 1

9 0 , 000.00 Send us y ou r collection s fo r prom pt and ca refu l attention.

Representative South Dakota Banks
These Banks Have Special Facilities (or Handling Collections and any Other Business Entrusted to Them
SUM M IT— Summit Bank.

LEMMON— First National Bank.

Capital, $10,000. Surplus, $2,000. U n­
divided Profits, $1,000. D eposits, $162,-

Capital, $25,000. Surplus, $7,500. U n­
divided Profits, $1,000. D eposits, $250,-

O. P. B rustuen, Pres., C. P. Lien,
V ice-P res., C. H. Lien, Cash., G. C.
M ogen, Asst. Cash.

C. D. Smith, Pres., T. C. Sherman,
V ice-P res., A. J. Behrm ann, Asst. Cash.

000.


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Federal Reserve Bank of St. Louis

000.

August, 1915

THE

NORTHWESTERN

BANKER

55

Ask Us to Have Our Advertisers Send You
More Information About Their
Goods or Service
Y o u w ill a lw a y s find T h e N orth w estern B a n k er a d v ertisin g
co lu m n s a re lia b le m a rk et p la ce, fro m w h ich y o u ca n s e le c t
w ith co n fid e n ce b a n k su p p lies and e q u ip m en t; c it y c o r r e ­
sp on d en ts, w h o w ill g iv e y o u d ep en d a b le s e rv ice , an d m a n y
o th e r th in gs, in w h ich y o u as a b a n k er a re in terested .
In o rd e r to a s s is t y o u to g e t m o re in fo rm a tio n a b ou t th e
a rticle s o r b a n k s e rv ice a d v ertised in th is issu e, a nd to sa ve
y o u th e tro u b le a n d p o sta g e o f w ritin g th e v a rio u s a dvertis-

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ers yourself, we have listed each one with a number opposite.
Simply fill in on the coupon the index number of the bank
or company from which you would like to receive pamphlets,
booklets or additional information, and mail it to The North­
western Banker. W e will be pleased to see that you get the
material desired.
This is a service we are glad to render you as one of our
subscribers.

46. Continental N ational B an k ..............
A
........................................Sioux City, la.
In su rance Com panies
A ccou n ta n ts
47. F irst N ational B ank....Sioux City, la.
70. B ankers L ife
Insurance Co____._
S. B a rtle tt Jones & Co......................
48. L ive S tock N ational B ank.........«.----.......................
.....Des M oines, la .
..................................... Des M oines, la.
........................................Sioux City, la.
71. Great W estern A ccid en t. In su r­
C. A. M ast...................... D avenport, la.
49. Security N ational B an k....................
ance
Co.......
Des M oines, la.
....................................... Sioux City, la.
A d v e rtisin g N ovelties
72. R o y a l U nion M utual L ife In su r­
50. Security N ational
Bank.—
.’.P aram oun t L eather G oods Co........
ance
Co.......:......
:....D
es M oines, la.
.................................Sioux F alls, S. D.
................................... New Y ork , N. Y.
73. W estern L ife
In su rance Co.........
51. Sioux F a lls Savings B an k ................
...............
..
.
...................
Des
M oines, la .
A d v e rtis in g Service
................................. Sioux F alls, S. D.
74. N orth w estern N ational L ife In ­
52. Sioux F a lls N ational B a n k ..............
H. B. C raddick ..... M inneapolis, Minn.
suran ce Co........M inneapolis, Minn.
................................. Sioux F alls, S. D.
O utcault A d v e rtisin g Co..................
53. S tock Y ards N ational B an k ............
........................................... C hicago, 111.
...................................
So.
Omaha,
Neb.
B
L ith o g r a p h in g
54. P a ck ers N ational B a n k ....................
B anks
................................
So.Omaha, Neb.
75. Iow a L ith og ra p h in g Co..................
55. B la ck H aw k N ational B a n k ............
M erchants N ational B a n k ................
.....................................Des M oines, la.
....................................... W a terloo, la.
.............................................................. B u rlin gton , la.
56. Com m ercial N ational B a n k ..............
Cedar R apids N ational B a n k ..........
....................................... W a terloo, la.
...........................:.....Cedar R apids, la.
P honographs
57. F ir s t N ational B a n k....W aterloo,
la.
M erchants N ational B an k...... - — .■
76. H arger & Blish, In c..D es M oines, la .
...................................Cedar R apids, la.
B
an
k
B
u
ilders
Continental & C om m ercial N a­
P o s itio n s S e cu re d
tional B an k..........1.........C hicago, 111.
58. H o g g s o n •Brothers.—N ew Y ork , N. Y.
Corn E xch a n g e N ational B an k .....
77. R h od es-O v erstreet Co_____________
59. L y tle C on stru ction Co.........................
.............................................. C hicago, 111.
__ ;.................................Sioux City, la.
......................................... Omaha, Neb.
D rovers N ational Bank..C hicago, 111.
78. R og ers R eferen ce Co....Omaha, Neb.
F irst N ational B an k ...........C hicago, 111.
Bonds
F o r t D earborn N ational B an k........
R
60. Io w a B ankers A ssocia tion (N a­
......................................... C hicago, 111.
tion a l Surety C o.)...........................
R a ilr o a d s
L iv e Stock E xch a n g e N ational
.................. ............. ,Des M oines, la.
B ank
....................... Chicago, 111.
79. R o ck Island L in es..... Des M oin es,Ta.
N ational B ank o f the R ep u b lic.....
80. N orthern P acific R a ilroa d ................
C
......................................... C hicago, 111.
....................................... St. Paul, Minn.
Cattle L oan s
N ational City B an k........C hicago, 111.
C ity N ational B a n k ..........Clinton, la.
61. K n orp p C atfle L oa n Co....................
S
P eop les T rust & Savings B ank......
_____________ ____ K ansas City, Mo.
S ig n s
........................................... Clinton, la.
C om m ercial P ap er
D a ven p ort Savings B a n k ..................
81. .R a w son & Evans Co___C hicago, 111.
..................................... D avenport, la.
62. W m . A. L am son Co..New Y ork , N. Y.
82. W estern D ispla y Co..St.- Paul, Minn.
F irst N ational B ank...........................
E
T
..................................... D avenport, la.
Germ an Savings B a n k ......................
E quipm en t
T a ilo r s
..................................... D avenport, la .
63. A corn Brass M fg. Co......Chicago, 111.
83. N icoll The Tailor..,.....Des M oines, la.
Io w a N ational B a n k ..........................
64. W ill H. Z aiser S p ecialty Co............
..................................... D avenport, la.
..................................... Des M oines, la.
T ru n ks
Central State Bank....Des M oines, la.
65. E llio tt-F is h e r Co..... H arrisb u rg, Pa.
Century Savings B ank ......................
84. N ational V en eer P rod u cts Co_____
66. B u r r o u g h s ...................... D etroit, Mich.
..................................... Des M oines, la.
................................. M ishaw aka, Ind.
Citizens N ational B an k ....................
F
..................................... Des M oines, la.
T r u s t C o m p a n ie s
Des M oines N ational B an k ..... '........
F ix tu res
85. Central T rust Co. o f Illin ois............
...........:.........................Des M oines, la.
67. In vin cible M etal F u rn itu re Co......
............ - .............................C h icago, 111.
Io w a N ational B ank...........................
................................. M anitow oc, W is.
86. M erchants L oa n & T rust Co______
................... ,................ Des M oines, la.
68.
A
m
erican
B
ank
P
rotection
Co........
.........................................
C hicago, 111.
P eop les Savings B ank......................
------- ;.................. M inneapolis, Minn.
87. G uaranty T ru st Co..New Y ork , N. Y.
..................................... Des M oines, la.
69.
M
inneapolis
B
ank
F
ix
tu
re
Co........
88.
L
ea
v
itt
&
Johnson
T
rust
Co______
V a lle y N ational B a n k ..... ...................
............................. M inneapolis, Minn.
-........................................ W a te rlo o , la .
..................................... Des M oines, la.
D ubuque N ational B a n k ....................
CLIP A N D M A IL T H IS C O U P O N T O D A Y
.............
Dubuque, la.
F irst N ational B an k..... Dubuque, la.
Second N ational Bank..D ubuque, la.
SERVICE DEPARTM ENT
F irst & Security N ational Bank....
............................. M inneapolis, Minn.
N
orthwestern
Banker
N orthw estern N ational B an k..........
1915
..... ....................... M inneapolis, Minn.
Des Moines, Iowa
Scandinavian A m erican N ational
B ank ........- ........M inneapolis, M inn.
Chase N ational B an k...........................
I would like to have further information from the advertisers in
................................... N ew Y ork , N. Y.
H an over N ational B ank....................
...................................New Y ork , N. Y.
the August issue listed as Numbers_______________________________
A tla n tic N ational B an k....................
................................... New Y o rk , N. Y.,
Seaboard N ational B an k --------------..............___________ N ew Y ork , M. Y .
F irst N ation al B ank......Omaha, Nefe.
M erchants N ational B a n k _________
................................... ...... Omaha, M eh
Omaha N ational Bank-O m aha, Heh.
B ank o f N orth A m erica.____ ____ ....
N A M E ...............................................I ......................
....................... ......... Philadelphia, Pa.
G irard N a tion a l B an k-------------------................................. P hiladelphia, Pa.
PLACE........ ...................................... .
STATE.
F irst N ational Bank..St. Paul, Minn.


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Federal Reserve Bank of St. Louis

56

THE

NORTHWESTERN

The Chase National Bank

BANKER

August, 1915

Stock Yards National Bank

of the City of New York

of South Omaha

57 Broadway
UNITED STATES DEPOSITORY

If you want the best possible serv­

Capital
.
.
.
.
Surplus and Profits (Earned)
.
.
.
.
Deposits

$

5,000,000
9,688,000
150,890,000

O FFICERS
A. Barton Hepburn, Chairman
Albert H. Wiggln, President
Samuel H. Miller, V .-P res.
William E. Purdy, Ass’ t. Cash.
Edw. R. Tinker, J r„ V.-Pres.
Chas. D. Smith, Ass’ t. Cash.
Alfred C. Andrews, Cash.
William P. Holly, Ass’ t. Cash.
Chas. C. Slade, Ass’ t. Cash.
George H. Saylor, Ass’ t. Cash.
Edwin A. Lee, Ass’ t. Cash.
M. Hadden Howell, Ass’ t. Cash.

ness you have at the South Omaha
Stock Yards, send it to us.

Our

location and facilities

un­

are

equalled.

Capital and Surplus $1,125,000.00

D IRECTOR S
H E N R Y W . CANNON
JAMES J. H IL L
A. BARTO N H E PB U R N
A L B E R T H. W IG G IN

ice in connection with any busi­

GEORGE F. B A K E R , JR.
FRAN CIS L. H INE
JOHN J. M ITCH ELL
GUY E. T R IP P

WE RECEIVE ACCOUNTS OF
Banks, Bankers, Corporations, Firms or Individuals
on favorable terms, and shall be pleased to meet or
correspond with those who contemplate making
changes or opening new accounts.

H. C. BOSTWICK, President

J. S. KING, Ass’t to President

J. C. FRENCH, Vice-President

H. C. MILLER, Assistant Cashier

J. B. OWEN, Cashier

EPES CORY, Assistant Cashier

FOREIGN EXCHANGE DEPARTMENT

Drovers N ational Bank
OF CHICAGO

Capital and Surplus, $1,000,000
Has for thirty years rendered quick and
to its correspondents

efficient

service

Resources, Eleven Million Dollars
Officers
O W EN T . R EEVE S, JR., President
M. W . T IL D E N , Vice-President
GEO. M. B E N E D IC T , Cashier
F. N. M ER C ER , Asst. Cashier
H. P. GATES, Asst. Cashier


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

Directors
W M . A. T IL D E N
L. B. P A T T E R S O N JO H N F L E T C H E R
A V E R IL L T IL D E N W M . C. C U M M IN G S
GEO. M. B E N E D IC T
B R YAN G. T IG H E
M. W . T IL D E N
O W E N T . R EEVE S, JR.