Full text of The Northwestern Banker : August 1916, Twenty-First Year, Number 348

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T W E N T Y -F IR S T Y E A R

DES M O IN E S, IO W A , A U G U ST , 1916

T O T A L NUM BER 348

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Northwestern National Life Insurance Co.
MINNEAPOLIS, MINN.

JOHN T. BAXTER, P r e sid e n t
A

PURELY

MUTUAL.

OLD-LINE,

WESTERN

COMPANY

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= Hanover
National
Bank

D ir e c t o r s
ii
F. A. CHAMBERLAIN, Pres. First & Security Nat’l Bank 11
E. W. DECKER, Pres. Northwestern National Bank
ai
C. T. JAFFRAY, Vice-Pres. First & Security Nat’l Bank
11
T. B. JANNEY, Pres. Janney, Semple, Hill & Co.
¡i
E. L. CARPENTER, Shevlin-Carpenter-Clarke Co.
11
B. F. NELSON, Pres. Hennepin Paper Co.
iI
A. A. CRANE, Vice-Pres. First & Security Nat’l Bank
a=
J. A. LATTA, Vice-Pres. Northwestern National Bank
|i
JOHN T. BAXTER, Pres. Northwestern N at’l Life Ins. Co.
11
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U. S. DEPOSITORY

Citizens
National
Bank

The National City Bank
OF CHICAGO

OF THE CITY OF NEW YORK
Nassau and Pine Streets

U. S. D epository
Capital
Surplus

W IL L IA M W O O D W A R D ....P re s id e n t
E . H A Y W A R D F E R R Y .......... V .- P re s .
S A M U E L W O O L V E R T O N ......V .-P re s.
E L M E R E . W H I T T A K E R ......C a s h ie r
C H A S. H . H A M P T O N .......... A s s t. C a sh .
J . N IE M A N N .............................A s s t. C a sh .
W IL L IA M D O N A L D .............A s s t. C a sh .
G E O R G E E . L E W I S ............ A s s t. C a sh .
H E N R Y P . T U R N B U L L ....A sst. C a sh .
W IL L IA M H . SU Y D A M ........................
................................. M g r. F o r e i g n D e p t.

Established 1851

Capital
- $3,000,000
Surplus and Profits 15,000,000

.
.

.
.

. . $ 2,000,000.00
.. .
750,000.00

O F F IC E R S
D a v id R . F o r g a n , P r e s i d e n t
A lf r e d L . B a k e r , V i c e - P r e s i d e n t
H . E . O tte , V i c e - P r e s i d e n t
F . A. C r a n d a ll, V i c e - P r e s i d e n t
R o b e rt R. F o rg a n , V ic e -P re s id e n t
W a l k e r G. M c L a u ry , C a s h ie r
W . T . P e r k i n s , A s s t. C a s h ie r
W . D. D ic k e y , A s s t. C a s h ie r
H e n r y M e y e r, A s s t. C a s h ie r
A. W . M o rto n , A s s t. C a s h ie r
W m . N. J a r n a g i n , A s s t. C a s h ie r
R . B. F u e s s le , A s s t. C a s h ie r
L e e A. K in g , A u d ito r
G e o rg e L . W ir e , A t t o r n e y
R . U. L a n s in g , V i c e - P r e s i d e n t a n d M a n ­
a g e r B o n d D e p t.
M. K . B a k e r , A s s t. M a n a g e r B o n d D e p t.

is

DES MOINES, IOWA

Ii

J. G. R O U N D S .......................... P r e s i d e n t
C LY D E E . B R E N T O N V ic e -P re s id e n t
C. L. G I L C R E S T ......... V i c e - P r e s i d e n t
GEO . E . P E A R S A L L ................... C a s h ie r
JA M E S B U R S O N ...........A s s t. C a s h ie r

Capital
Surplus

Solicits Your Business

-

-

Ii

It
¡I
1
ii

$300,000
100,000

ACCOUNTS SOLICITED

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ESTABLISHED 1870

FIRST!
- N A T IO N A L « BANK
»

FIRST NATIONAL BANK
SIOUX CITY, IOWA

IN T H E U N ITED S T A T E S

C a p i t a l ...................$600,000.00
S u r p l u s ...................$120,000.00

New Business Invited
on the b a sis of

SATISFACTORY SERVICE
Resources Over $3,000,000.00

Our Facilities for Handling Bank A ccounts
Are, W e Believe, Unexcelled. W e Solicit
Your Business.

FIRST NATIONAL BANK
DAVENPORT, IOWA

L J. YAGGY, Cashier

A. F. DAWSON, President

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Federal Reserve Bank of St. Louis

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JOHN
LARGE, President
F. A. McCORNACK, Vice-President
H. A. GOOCH, Vice-President
L. H. HENRY, Vice-President
J. L. MITCHELL, Vice-President
O. D. PETTIT, Cashier
FRITZ FRITZSON, Asst. Cashier
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THE

NORTHWESTERN

BANKER

August, 1916

VALLEY NATIONAL
BANK
DES MOINES, IOWA

Second

Capital and Surplus $500,000.00

Bank

and

Deoosits' yALLEY NATIONAL BANK f A a a a a a a a a
Deposits yALLEY SAVINGS BANK M i W W , 0 0 0 . 0 0

Dubuque

Under Same Management

Savings

Bank

Dubuque, Iowa

OFFICERS AND DIRECTORS
R . A. CRAWFORD, President
C. T. COLE, JR ., Vice-President
D. S. CH A M BER LA IN , Vice-President
W. E. BARRETT, Cashier

Reserve Agents for National Banks.
UNITED STATES DEPOSITARY

Combined Resources

Tlios. F. Stevenson, Attorney
W. E. Tens, Trees, Tone Bros. Wholesale Coffees, Teas and Spices
W. C. Harbach, See. db Treos. L. Harbach’s Sons Co.
E. W. Stanton. Vice-Pres. Union N a t Bank, Ames, la.
C. W, Meniilji, Pres. Mennig-Slater Co. Vinegar & Pickle Works
Alfred Ham m er, Pres. Alfred Ham m er <&Co., Druggists

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

National

Careful,

$3,000,000.00
O F F IC E R S A N D D IR E C T O R S

J. K. D em in e
H erm E sch en
Jas. M. B urch
F ran k Bell
Chas. H. B radley
G eo. W . K iesei
J. T . C a rr
Organized 1876
j . j . R o shek

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The First National Bank of "Waterloo, Iowa I
Solicits y o u r business on th e m ost favorable te rm s consistent w ith
safe and co n serv ativ e banking. "We p a y in te re st on b ank accounts.

Our Capital $200,000
—

1

Our Surplus and Profits $275,000
—

O F F IC E R S .
A . M. P L A C E , V ice-Presiden t
JAS. B L A C K , V ice-Presid en t
F . J. Fo w ler
C. F . Février
J. O. Trum bauer
Jas. B la c k

F . J. E IC H M E Y , President
F . P. H U R ST, A eslsta a t Cashier
V. J. R E C H T F E R T IG , A .n ’t Cashier
D IR E C T O R S.
J. W . R ath
A . M. P lace
F . J. E lgk m e y

H. IV. Grout
W . W . Marsh
J. T . Sullivan
T . W . P lace

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CENTRAL TRUST COMPANY
OF ILLINOIS

CHICAGO
Capital, Surplus and P r o fits , $ 6,5 0 0 ,0 0 0
D eposits - - - - - 4 5 ,0 0 0 ,0 0 0
A c co u n ts of banks and b ankers receiv ed u p o n favorable term s

Thoroughly equipped to handle all business pertaining to banking, and invites the ac­
counts of banks, corporations, firms and individuals.


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Federal Reserve Bank of St. Louis

August, 1916

THE

NORTHWESTERN

BANKER

P E R C Y W. H A LL
Western Representative of the Mechanics and Metals National Bank, Ne* York.
Percy W. Hall, the efficient and progressive secretary of the Iowa Bankers Associa­
tion since 1910, w ill cn September 1, 1916, take up his duties as western representative
of the Mechanics and Metals National Bank of New York, which has total resources of
$234,000,000.00. Mr. Hall’s headquarters will be in Des Moines. He will look after the
large financial interests of the bank in the territory covered by Iowa, Nebraska and
South Dakota. Mr. Hall began his banking career as assistant cashier of the Union
Bank of Sheldon, Iowa, and afterwards organized the Security Savings Bank of Sheldon,
which was nationalized and called the Sheldon National Bank in 1904. He was cashier
or vice-president of that bank until elected to his position as secretary of the Iowa Bank­
ers Association. Mr. Hall was also mayor of Sheldon, a town of 3,500. fo^ two terms.
His excellent executive ability and his constant desire to make the Iowa Bankers Asso­
ciation one of the oest in the United States has brought him recognition as one of the
best state secretaries in the country.


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Federal Reserve Bank of St. Louis

THE

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58

NORTHWESTERN

| \ IV

BANKER

August, 1916
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Building the Canadian Nation
IFTY years ago when the construc­
tion of the Canadian Pacific Railway
was proposed as a link between the
Atlantic and Pacific, nine hundred miles
of prairie seemed a greater obstacle than
the Canadian Rockies.
But the Canadian Pacific settled the
land through which it built its network
of tracks.
Today its settlers can supply enough
wheat to feed the whole French and
British armies.
Winnipeg is a greater grain market
than Chicago or Minneapolis and in 1915
its bank clearings were $1,530,683,124.00.

F

300 miles of sidings are required by
the Canadian Pacific Railway to handle
the traffic which passes throughWinnipeg.
Grain elevators are the landmarks of
the Canadian West (today there are 2,775
in the three prairie provinces with capactiy of 123,939,000 bushels).
Under the lead of the Canadian Pacific,
mixed farming is making as rapid pro­
gress as the cultivation of grain.
The banker or investor desiring to
study Canadian conditions by personal
investigation cannot omit Winnipeg.
The Royal Alexandra is the business
center of this great prairie city.

The Chicago Office of CANADIAN PACIFIC RAILWAY is at 2 2 4 S. Clark St.
Thos. J. Wall, General Agent, Passenger Department

% o y â f A le xa n d ra H o le !. W in n ip e g


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Federal Reserve Bank of St. Louis

G rain Eleva fo rs al a Prairie Sialion

The N orthw estern Banker
$2.00 Per Annum

D ES M O IN ES, IO W A , A U G U S T , 1916

20 Cents Per Copy

Competition in the Banking Business
B y G eorge T . M cC andless
A grain dealer once told
When it had been the
me it made no difference
only bank it was keen for
to him how many real
a good showing in the
grain men located in his
profit account and held up
town; he was willing to take his chances on getting his its customers whenever opportunity afforded. With
share of the business. What he dreaded the most was the establishment of the second bank its policy was
for some retired farmer with a few thousand dollars C if-11? - 5nti rely
lpPPed °fi all exchange charges
and no experience in the business to start up and pay which it had been making for years, lowered the inter­
more than he could sell for and last just long enough est rate on loans, donated safe deposit boxes, raised
to lose the aforesaid few thousand dollars getting exr the rate of interest paid on deposits and did everything
perience. In cases like this none of them could make in its power to put the new bank out of business before
any money and yet every right-thinking man believes it had got out of its swaddling clothes.
there should be a living profit for merchants in the
In spite of this there were enough of the citizens and
farmers who welcomed the new bank to make it a
handling of their business.
There is more or less of the “dog-eat-dog” policy in success. They saw in it the reason for the increased
all lines. A man will say, “Well, if I can’t make any accommodations to the banking public and were not
money at it no one else is going
deceived by the change of
to.” He benefits neither him­
policy in the older bank. These
In the banking business it is not enough to
self nor his community. Such
men patronized the newer insti­
say “You play the game your way and I’ll play
a man has few real friends
tution to such an extent that
mine and may the best man win.” But we must
when the showdown comes. If
serious inroads were. made in
all adhere to sound principles and when one of
people can buy of him at less
the deposits of the older bank.
our brothers errs he should be counseled with.
No law is effective without a penalty attached
To give an idea of the foolish
than cost they do it, but down
and in the cities where the banks are held to­
in their hearts they have no
methods
I ran into in this town
gether by a common interest the penalty for
I recall vividly the clearing
respect for him and he finds
the infraction of good banking rules is no small
methods in vogue. The older
this out when he is finally
thing. The mere fact that a man is permitted
to be cashier of a bank, should in itself be an
obliged to call on them for fi­
bank required settlement of
evidence that the state says, “This banker is
clearing house differences to be
nancial assistance.
O. K.— you may trust him with your money and
made in cash. In order to make
Every banker wants his cus­
your confidence.” Let us all be broad enough
the required settlements the
tomers to make money and if
to play fair, live and let live, do all the good
we can and treat our competitors as well at
he finds they are not using
newer bank was obliged to ship
home, as we do abroad.”
sound business methods in the
in large amounts of currency.
handling of their affairs, he
This was caused by the older
wants to get out from under
bank taking all items on this
town from city banks and remitting at par. This acted
before disaster comes.
Bankers usually keep pretty well posted on their as a boomerang on the older bank as they were forced
competitors’ methods and instead of looking at the to ship the currency out again and no one was benefited
totals on published statements are pretty apt to look but the express company which hauled the money in
first at the undivided profit account and compare it one day and out the next.
with the previous statement. If the bank shows it is
This is one of the best examples of pure stupidity
earning a fair rate of interest on its loans and has a that ever came under my notice. The desire to hurt a
modest expense account then it stands well and has the competitor is a mild form of insanity.
Speaking of insanity I am reminded of a little story
respect of all.
But unfortunately there are some bankers who are told me not long ago. Two colored women were in­
members of the dog-eat-dog class and do not want any mates of an insane asylum. It was customary at stated
who are in the same line of business in their community intervals for all the inmates to be given a good bath
to make any money. Such men are not only a menace and have clean clothes put on them. One day after this
to themselves but to the public. If their failures were had been done, Mandy said to Liza, “Liza, Ah feels so
confined to themselves no one would mourn their de­ good and so nice and clean and Ah just feels that if I
mise, but they drag down others with them when they had some real nice man take me out in his automobeel
that I would be puffickly happy.” Liza replied,
sink.
The most foolish thing that can take place in any “Mandy, you don’t belong in dis heah sane sylum—
you is in ypuah RIGHT MIND.”
community is a bank fight.
Which recalls the conundrum, “Who was the bravest
A good sample of this came to my notice some years
ago when I was a bank examiner. In the town were man that ever drove an automobile?” “The fellow
a national and a state bank. Bad blood had existed who hauled Harry Thaw from the asylum up into New
between the two for some time. Naturally, the bank Hampshire and Canada. He drove a thousand miles
which had been established the longer was the chief with a loose ‘nut.’ ”
It is likely that most of the so-called bank fights
aggressor.
This is a very interesting article by Mr. McCandless on
competition among the banks in smaller towns and also
how the public should be protected from inexperienced
bankers.


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Federal Reserve Bank of St. Louis

THE

6

NORTHWESTERN

BANKER

August, 1916

THE BANK OF NORTH AMERICA
NATIONAL BANK

PHILADELPHIA, PENNSYLVANIA
The Oldest Bank in the United States, C hartered, 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, $2,316,000.00

Deposits, $23,298,000.00

HARRY G. MICHENER, Pres.
CHARLES H. HARDING,Vice-Pres.
SAMUEL D. JORDAN, Vice-Pres.
E. S. KROMER, Cashier
WILLIAM J. MURPHY, Ass’t Cash.
RICHARD S. McKINLEY, A ss’t Cash.
CHAS. M. PRINCE, Ass’t Cash.
C. A. Mc ILHENNY, A ss’t Cash.

occur in the smaller towns. The banks in the cities
have learned that co-operation in essential things builds
up strong institutions. Personal feelings are a great
factor in the small communities and these make it
difficult for competing banks to realize that what is
good for the one is good for the other.
We are childlike when we cannot see that we may
profit by the experience of others. When I see a banker
unwilling to appreciate this fact he impresses me as
being provincial.
Business is a game; certain rules govern every
game; we all respect the man who wins by playing the
game fairly and if a man cannot win in that way he
does not deserve to win at all. In the banking business
it is not enough to say, “You play the game your way
and I’ll play mine and may the best man win.” But
we must all adhere to sound principles and when one

BE YOUR OWN EXECUTOR
B E R K SH IR E L IF E IN SU R A N C E
C O M PA N Y
Pittsfield, Massachusetts
Gentlemen:—
Kindly inform me what would be the
annual investment necessary to provide my
___________________

of our brothers errs he should be counseled with. No
law is effective without a penalty attached and in the
cities where the banks are held together by a common
interest the penalty for the infraction of good banking
rules is no small thing.
The remedy for the bank fight should lie in the
banking departments. Unbusinesslike methods should
be summarily dealt with and ordered discontinued.
Bankers should be able to say to the public whose
money is entrusted to them, “We will not only be faith­
ful to the trust you have placed in us but we will use
every effort to see that no man who goes into the bank­
ing business here will not be a safe man for you to
deal with.
One of our bank commissioners was on the right
track when he promulgated an order that no man
should be elected cashier of a bank in his state who
had not had three years’ experience in the banking
business or taken a written examination in the com­
missioner’s office to determine his fitness to hold such
a position.
The state protects the public from quack doctors,
shyster lawyers, inexperienced druggists and amateur
barbers so why should not the same protection be given
the public from inexperienced bankers? A shotgun in
(Continued on page 56.)
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who was

born on the--------------- day of----------- —

| Certified Public Accountants

f

________18___with an annual income, in
event of my death, of $-------------------------

Financial Investigations
Audits

duiing------------lifetime, payable in equiva­
lent monthly installments.
I nuas bom on the ________________ day o f _______________
.__________ in

the year- - _________________________________

Cost and A ccounting
Systems

M y name is _____________________________________________
M y address i s __________________________________________

Explanation;
The middle col­
umn shows the
time a person
is expected to
live whose age
is th a t given in
the side columns

EMORY D. BREAM, Gen’l Agent

|

!

W M . G U T H R IE & CO.

715 Hippee Building

|

234-235 Davidson Bldg.

DES MOINES IOWA

I

SIOUX CITY

.

.

.

.

!

IOWA i

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Federal Reserve Bank of St. Louis

August, Í9l6

T tí ë

NORTHWESTERN

BANKER

THE MODERN
ALADDIN
arms a trim machine, which he placed beside

Aladdin sat at his sanitary desk in a new
suite of offices, perspiring with the terrible heat
and glaring gloomily at his huge pile of mail.
Aladdin rubbed his Magic Lamp—and said
to the slave, who instantly appeared: “Bring
me the best stenographer in town.”
In a flash the slave returned, bearing in his

Aladdin’s desk.
“What is this?” gasped Aladdin in astonish­
ment. “I don’t want any more lamps! That’s
the rub with this lamp business. Take it away,
and get me that girl!”
“Master, I never make a mistake; this tag of
the maker will explain.”

ED ISO N DICTA TIN G M ACHINE
I N S T A L L E D BY

HARGER

8c B L I S H .

INC.

Aladdin, in an Eastern fury turned upon the her Edison.
silent and dignified slave: “Take it away, I
“Does SHE go with an Edison?”
say, you smell of Kerosene! Go dig up the
“Yes, Master, you behold in this combination
best stenographer, also the most beautiful one
the
best looks with the best ability. And, Mas­
in this burg! There’s a double nut to crack. I
ter,
do not again doubt my wisdom. The sten­
want a beaut—a wren. One that holds the
book while you sharpen her pencil. Something ographer you have described belongs with the
old days of that oil lamp on your desk. This
that tangoes—dresses.”
“Now get out of here and get busy. If you is the Age of Edison—of Electricity ; an Age
don’t the Standard Oil gets me a new lamp, with all the beauty you could wish for, and effi­
ciency besides—what’s more you can speed up
and with it real producer.”
As Aladdin spent himself, the slave swept your own dictation—come down early in the
morning in the cool of the day and clean up
open the door in a gesture of announcement.
Once more Aladdin gasped—this time with your work in less time and have more time for
:u
admiration. There seated beside a machine golf or other recreation.
If
you’re
a
Busy
Banker—and
your
time
is
like his own, was the girl of his imagination.
She did not bow or beg to enter his presence, money—write for catalogs. Your efficiency
but busily clicked a typewriter and listened to can be doubled. Address your inquiry for the
A tten tion of TOM HARRIS

HARGER & BLISH, Inc.
811 WALNUT STREET

D es M oines,

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Federal Reserve Bank of St. Louis

Io w a

THE

NORTHWESTERN

BANKER

August, 1916

An Idea T hat Increased Deposits
By R. A. Goodwin
It has been stated that
movement w a s started
In this excellent article by R. A. Goodwin, cashier of The
the largest word in bank­
January 1, 1916.
Farmers Savings Bank of Tabor, South Dakota, he gives
ing is SERVICE, capital
Knowing the corn crop
the readers of The Northwestern Banker an opportunity to
and surplus being second­
learn about an original idea of his which has secured re­
of 1915 was not properly
sults for his bank as well as the community as a whole.
ary, but what is the real
matured, a n d t h a t the
Mr. Goodwin believes that real banking success depends on
meaning o f t h e w o r d
germination w a s v e r y
“taking interest in the farmer as well as from him.” That
SERVICE in connection
poor, I decided to stimu­
the ideas of Mr. Goodwin are practical is proved by the
with the banking busi­
fact that although The Farmers Savings is less than three
late interest in the testing
years old, the bank has deposits of $135,000.00.
ness?
of seed corn. Upon mak­
Some bankers have the
ing a few inquiries I
idea that they are giving their customers service by learned that a great many of the farmers did not even
taking deposits from them and loaning money on good take the precaution of selecting their seed in the fall
security, but the man who has
of the year, but simply went
this idea in this day and age
to their cribs in the spring and
is not entitled to be termed a
selected it (of course they
banker. The old definition of
looked at each ear to be sure
the word banker is “a dealer
it would grow), shelled their
in money,” but this is only a
corn in a hand sheller, and it
very small part of the mean­
was ready to plant.
ing of the word today. It is
I first employed a carpenter
true that some men whom we
to build a sawdust tester
call bankers are simply “deal­
which held 200 ears or tests.
ers in money,” but the real
The home-made tester was
live banker of today assumes
used rather than a commer­
duties which appear to the
cial tester for the reason that
public to have no direct con­
I desired to make the process
nection with his business, and
appear as simple and inex­
which a few years ago would
pensive as possible. This test­
have been considered very un­
er was placed in the lobby of
wise undertakings.
the bank. I then sent out a
The real live banker’s field
request to the farmers to
is practically unlimited, a few
bring me a sample of their
of his duties being the better
seed corn, as I was desirous
farming movement, better and
of making an experimental
more live stock, better schools
test of some of the corn which
and the improvement of con­
was to be planted. This letter
ditions in general.
brought about 50 per cent of
The writer is conducting a
the samples which I had
better farming movement, and
asked for, and I was some­
to give my fellow bankers an
what disappointed, but in a
idea of how I am handling the
few weeks I began to receive
work, I am giving an outline
samples from farmers whom I
of my plan which started with
had not written to, and some
R. A. GOODWIN
a movement to create an in­
from neighboring towns by
Cashier Farm ers Savings Bank,
terest among the farmers in
Tabor, South Dakota.
mail. The lobby of the bank
the proper selection and test­
was filled almost every day
ing of their seed corn. This
(Continued on page 56.)
JA S . P. M A R T IN , V ice-P resident
F. E. G ILL , V ice-P resident

T . F. H A R R IN G T O N , P resid en t

W . G. D U N K L E , C a sh ie r
R. N A S H , A ss’t C ashier

CONTINENTAL NATIONAL BANK
C apital $100,000.00

SIOUX CITY, IOWA

S u rp lu s $10,000.00

W e k n ow tliat our ex p erien ce, k n o w le d g e , a b ility , sy ste m ,
organization, m odern m eth ods and e n e rg y w o u ld w o r k great­
ly to your b en efit if y o u g iv e u s the opportunity to se r v e you.
DIRECTORS
T . F. H A R R IN G T O N
J. P . M U LHALL
JA M E S P. M A R T IN


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Federal Reserve Bank of St. Louis

M. KASS
F. E . G ILL
A. J. M O RE

m . F. M cD o w e l l
C . F. G R E E N
W . G. D U N K L E

THE

August, 1916

NORTHWESTERN

BANKER

BETTER FARMING
Mr. Banker: The Kansas Experimental
Station declares that deeper and earlier
plowing will increase the yield many bush­
els per acre, and that it will require 73 per
cent more power to plow the proper re­
quired depth.
Early fall plowing puts six pounds more
moisture in the ground and this means big­
ger crops.
Early fall plowing is done in the hottest
months of the year. Horses cannot stand
up under the heat. The plows cannot be
sunk as deep as they should. They skim the
surface. The results are evident at harvest
time.
Hart-Parr, pioneer builders of tractors,
furnish ample reserve power to meet every
crop-raising crisis.
Your farm should be equipped with a
Hart-Parr outfit. Your client should be ad­
vised of modern tractor farming. We know
we are right, for thousands of farmers have
attained success with our machines.
We have some facts on power farming
ready to mail you today. Why not get
this information and read it at your leisure?
A postal card will bring you some interest­
ing data.

HART-PARR CO.
507 Lawler Street - Charles City, Iowa
F ou n d ers of th e T ractor In d u stry - B u ild ers of T ractors T hat L ast


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9

N

orth w estern

i

B anker

T H E O LD E ST FIN A N C IA L JO U R N A L W EST OF T H E M IS S IS S IP P I R IV E R A N D T H E ONLY O N E IN T H E U N IT E D STA TES
W H IC H IS A M E M B E R OF T H E A U D IT BU REA U OF C IR C U L A TIO N S

Published M onthly by
T H E N O R T H W E S T E R N BANKER
P U B L IS H IN G C O M P A N Y
709-710 C ro c k e r B uilding
D ES M O IN E S
::
IO W A
_

Clifford De Puy
Publisher

A U G U S T , 1916

M IN N E A P O L IS
H ennepin A v e n u e and F ifth S treet
C H IC A G O
122 S o u th M ichigan B oulevard
N E W YORK
225 F ifth A v en u e

$2.00 per year, 20c ; copy. Entered as second-class m atter at the Des Moines post office to conform to the postal
------ - J everything
-.
tuimug to
VW the
liiV JW
USUCU being OUM
/Ujr 1
laws;
else ¿/Vi
pertaining
journal
strictly
FIRST Liado
class

^

WHAT THEY THINK
■ A most interesting survey was recently made by the Guaranty Trust Company of New York
as to what the bankers of .the country think of the Federal Reserve Act. Replies were received
from 5,344 banking institutions of which 2,709 were National or member banks and 2,635 State
Banks and Trust Companies. Out of the total replies 1,760 were favorable to the law, 1,773
unfavorable and 1,811 were non-committal. Among the objections offered by the banks to
the present law, 243 stated that the rediscount privilege was of little value; 257 said the system
was of no value to the country banks; 699 had no dealing with the Federal Reserve Banks;
598 believed that it was still necessary to retain relations with correspondents; 903 objected
to. no interest on deposits and 209 were in favor of abolishing the comptroller’s office. It is
also interesting to note that among the objections offered by non-member banks; 807 could
see no advantage in joining the system; 284 objected to no interest on reserve deposits; 239
objected to the probable lack of dividends on federal reserve stock, and 236 objected to limi­
tation of Farm Mortgages to 25% of the capital. This report which is published in full in
this issue of The Northwestern Banker contains some excellent statistics for the use of our law
makers who certainly will have to make some needed changes if the reserve act is to accomplish
all that they expect of it.

I

EXTENDING CREDIT
1

<1. The credit of a State or Nation like the credit of an individual is a most valuable asset.
The banks of the United States at the present time are in an excellent condition, but there are
some yellow journalists, who are talking and writing about the terrible menace to business
development that is being caused by the fact that the National Banks of the United States
have $11,000,000,000 on deposit and as one article stated, “Not available for the Nation’s
development.” This article stated in part, “There is more than $11,000,000,000 on deposit
with the National Banks of the United States. Of course, it is gratifying to everyone to see
the wealth of this country increasing, but we fail to see much occasion for felicitation in the
fact that this wealth is being piled up in the bank vaults. America is such a new country,
comparatively speaking, that one has only to glance in any direction to see opportunities for
the investment of money, which would not only be profitable for the investor, but of immense
permanent benefit to the country. From every corner of the land the cry is going up for new
capital. Ship-building plants, factories, irrigation projects, colonization schemes, and hundreds
of other worthy enterprises, meaning the development of the natural resources of America, the
increasing of her permanent prosperity, opportunities for thousands of workmen or farmers,
happiness and content for their families, in short, true commercial greatness, are pleading in
vain for financial backing. Eleven billion dollars in the banks and not available for the na­
tion s development. It is not well.” The greatest mistake that could happen to this country,
at the present time would be an overextension of credit, an overexpansion of business, which
might result in a business bubble, which would be liable to break when the war is over. Every
cent of money, which is on deposit with both the National and State banks is available for the
nation’s development, when the right and proper time comes. Many a business has been
shipwrecked upon the shores of failure by receiving too much credit, as well as receiving too

I

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I

S88S§8S8888S88888888S8S88SS88888S8S88SS88888SS8888888S8SSm8S8S88SS^^


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Federal Reserve Bank of St. Louis

little. In a few months a vast amount of this money will be needed for moving the crops.
If the banks should loan out every cent they now have and have nothing on hand in the fall,
these same individuals who are making such objections now would probably criticise the bank­
ers of the country for being poor business men with shortsighted visions, as to the financial
needs of our nation. We say it is well that the National Banks have $11,000,000,000 on de­
posit; they are not hoarding this money; they are not misers, but they do know that the money
will be needed more in the near future than it is at the present time. The Bankers of the
United States have never been found wanting. They will supply capital for every worthy
undertaking and every progressive institution, when needed.

i
I

WAS SHE RICH?
In the passing of Hettie Green, the United States has lost one of its most unique women
financiers. Mrs. Green’s ambition was to make her son, Edward Green, the richest man in
the United States. She left a fortune estimated from $100,000,000 to $125,000,000, but she
was not the richest woman in the United States from the standpoint of money. Both Mrs.
Marshall Field and Mrs. E. H. Harriman possess greater wealth than she did. Of course
credit should be given to Mrs. Green because the $10,000,000, which she inherited from
her father she converted into $100,000,000, while the fortunes of Mrs. Marshall Field and Mrs.
E. H. Harriman were left to them by their husbands. Hettie Green was a dollar worshiper.
She did everything that would help her to make more money. She avoided everything that
meant expense or unnecessary expenditure. When she married Edward Green July 7, 1867,
it was rather a cold blooded proposition for she made him sign a contract pledging himself
never to use a penny of her fortune and to support herself and any children there might be
from his own funds. In the later years Mr. and Mrs. Green were divorced because they did
not agree on money matters. When her aunt died and left a will, which did not give her as
much money as she thought she was entitled to, she produced a new will made at a later date
and which many people thought was written and signed by Hettie Green, after having traced
the signature of her Aunt to the document. A New York Banking House that had served her
faithfully for 20 years and to which at one time her husband had been indebted for many thou­
sands of dollars, was threatened with failure. She rushed to the office and demanded the
$475,000 she had on deposit, as well as the millions in securities they held for her. She was
told that such a withdrawal meant failure for the bank and ruin to thousands of depositors,
but she did not leave until her last penny was paid. The bank went to the wall. To avoid
paying taxes on her enormous wealth, she always maintained a legal residence in Vermont.
There she never was taxed on more than $100,000. In reply to a Chicago minister, who wrote
to her that she would be lost to heaven if she insisted on her money from a $50,000 mortgage
on his church, she said “You had better pray for my soul, because I am going to foreclose in
30 days,” and she did. Hettie Green was rich from the standpoint of money, but she was poor
as a bankrupt when it came to acts of kindness; helping those in need; assisting with charitable
enterprises or doing anything that would help herself or those with whom she came in contact,
to live a better or more helpful life. She paid homage at the shrine of the almighty dollar.
11 was her god and she worshiped it with an unceasing and never-ending devotion. She died
rich in money, but poor in every other way.

^ CASHIER’S CHECK” For $2.00 is all th a t is required to se­
cure th e m onthly visits of th e N orthw estern Banker for an entire
year. E ach issue contains from 56 to 64 pages of m ighty inter'
esting m a tte r pertaining to banks and banking interests in
th e territo ry covered by th e magazine.
“ OlIR CORRESPONDENTS” E v e r y b a n k in the
N orthw est is invited to a place on this list. Send us
item s of local interest, tell us about your bank and its
growth, prospects, e tc ., also any other financial news of
in terest to bankers in your section. W e are always
glad to h ear from ou r friends.
“ SIG H T DRAFTS” We always carry á large “ Re­
serve” o f good will and additional service, and will
prom ptly honor d rafts m ade upon sam e by any bank.
T his departm ent is for your special benefit. I t m ay
be m ade o f very great benefit to your bank. D o not
fail to avail yourself of its privileges.
“ A CLEARING HOUSE’* Our columns are a clear­
ing house for all our readers. Express your views on any

I


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topic of interest to th e banking fraternity and subm it sam e for publi­
cation. You do n o t have to agree w ith us, or w ith anyone else.
We learn things by an interchange of ideas, and people w ith whom
we disagree often prove valuable teachers. W e shall be glad
to hear from you.
“ NO PROTEST” H as ever been offered to th e state­
m ent th a t th e field covered by th e Northwestern Banker
isjfche money-producing section of the American continent,
rich in hogs, cattle, corn, etc., and dotted w ith th o u ­
sands of prosperous banks, all doing a good business,
an d th e m ajority of them are readers of “ The N orth­
western.”
“ SURPLUS AND UNDIVIDED PRO FITS” Increase
very rapidly w ith those banks, whose advertisem ents
appear regularly in the columns of th is magazine.
F ull inform ation as to rates and our special service
will be prom ptly furnished on application. Your
business solicited an d appreciated. T he “B anker”
has been tw enty years in its present field.

I

I

I
1

THE

12

NORTHWESTERN

August, 1916

BANKER

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ii

Personal Paragraphs

i

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A. C. Waller, Treasurer of the Federal Deposit and
Trust Company, Dubuque, Iowa, has made a most ex­
cellent showing in the growth and development of his
company since its organization. On June 30, 1914, the
deposits were $48,059.34 and on June 30, 1916, they
were $484,694. 56. The capital stock is $55,500 and un­
divided profits are $6,285.07. Mr. Waller is a progres­
sive, wide-awake banker who believes in constructive
plans for securing new business and he is certainly
proving up to his motto, which is “Watch Us Grow.”
The officers of the company are: J. R. Guthrie, presi­
dent; A. A. Loetscher, vice-president; Geo. D. Wybrant, vice-president; Joel F. Nelson, cashier; John
Rider Wallis, assistant cashier, and A. C. Waller, treas­
urer. .
$
$
$
H. S. Butler, vice-president of the Iowa National
Bank of Des Moines, believes that the United States
will get Mexico by “financial absorption.” Should the
United States Government ask the banks of the coun­
try to purchase bonds from the Mexican de facto gov­
ernment the movement will secure but little encour­
agement in the Middle West, according to Mr. Butler,
who recently expressed the opinion, “That the men in
the East would gobble up the Mexican bonds.. For
years they have been waiting for the time when Mexico
would be reduced to such financial straits that it will
be necessary to issue government bonds like the ones
proposed. In time to come, maybe five years, maybe
ten, and possibly longer, Mexico will be a part of the
United States. It will not be a military conquest or
protectorate, but it will be a financial absorption of the
entire country by the rich men of the United States.
When it is all over no one will be able to explain just
how it occurred.”

lined up four and five deep waiting to get a drink of
cool, refreshing water. When a person bends over to
get a drink his eye is immediately attracted to the fine
bronze plate which surrounds the center of the foun­
tain on which are the words “Union Savings Bank a
Strong Bank.”
$—

$-------- $

The Bankers Trust Company of New York, of which
E. B. Wilson is publicity manager, has been meeting
with excellent success in making arrangements for the
motion picture film, “All Aboard the Magic Carpet,”
which describes the advantages of A. B. A. Travelers
Cheques. The enthusiasm which bankers are showing
makes one wonder where the idea started that banks
are too proud to advertise. The greatest number of
calls are from the Middle West—Wisconsin, Iowa and
Minnesota leading. The average length of time a
bank shows the film is three days, before houses with
from 200 to 2,500 seating capacity, giving one to seven
performances daily. A clearing house in an Iowa city
composed of ten banks has arranged for a showing of
several days. It is estimated that 200,000 people have
seen the picture, although it has been in circulation
but a few weeks.
$-------- $-------- $

The Live Stock Exchange National Bank of Chicago
issued a most excellent statement for June 30, 1916,
which showed that they had deposits of $13,156,531.48,
capital stock of $1,250,000, undivided profits of $95,850.14 and unearned discount of $104,825.72. Under
the able management of progressive bankers who un­
derstand thoroughly the live stock business and its
needs, the officers of this institution have shown a
continued growth in their business which has been
most gratifying. At the Iowa Bankers Convention this
year the special “Live Stock Auto” was at the disposal
$---------------- $---------------- $ _
William Heuer, cashier of the Union Savings Bank, of the country bankers who were present. This is only
of Davenport, Iowa, has always believed that good one of the many ways that the officers helped to extend
publicity and the right kind of advertising were essen­ their service at the big meeting. At the Iowa meeting
tial to the continued growth of his institution. In G. F. Emery, cashier, A. W. Axtell, assistant cashier,
front of his bank he had built some time ago a drinking L. L. Hobbs, assistant cashier, and Charles Oliver ex­
fountain for the use of the public. It has attracted tended the glad hand and the pleasant smile for the live
wide attention and on any summer day people are national bank. S. T. Kiddoo, vice-president, and Chas.

Fort Dearborn National Bank
CHICAGO, ILLINOIS
CAPITAL $2,000,000
„

,.

SURPLUS AND PROFITS $1,000,000
„ ____. .

C o m p a r a tiv e S h o w in g o f D e p o s its
F e b r u a r y 14, 1 9 0 8 .................... $ 9 ,887,954.84

6i9io09::::::::::
M a r c h 7,
F e b ru a ry
F e b ru a ry
Ja n u a ry

1 9 1 1 ..............................
20, 1 9 1 2 . . ................
4, 1 9 1 3 .......................
13, 1 9 1 4 .......................

2 1,574,956.79
2 6,207,446.32
3 0,499,714.20
2 9 ,7 27,922.06

NELSON N LAMPERT, Vice -P res .


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WM . W. LE GROS, Ass ’t Cashier

>■etcher farrell, w » .

CHiBLESL B0YE.*«,,Ci„ „

HENRY R. KENT, Vice -P bes .
TriTTM wTu T r m r n v im P res
JOHN FLETCHER, \ ice -Pbes .
MARCUS JACOBOWSKY, Vice -P res

^ M L McKEE> ^

D e c e m b e r 1 3 l f ‘ i 9 i 5 . ’ ! ! ! ! ! ! ! 3 4 ; i 6 M 5 5 ‘.02 GEORGE H. WILSON, Cashier
M a r c h 7, 1 9 1 6 . .. ....................... 3 8,952,490.96

U nited S tates D ep o sitary

DEPOSITS $39,000,000

WM. A. TILDEN, P resident

C a s h iir

R. j . McKAY, Ass ’t Cashier
WM. E. Me LALI.EN, Ass ’t Cashier
H. LAWTON. M gr . F oreign D e p t .

W e p articu larly desire th e acco u n ts of banks.
O u r officer in charge is perso n ally a cquainted w ith co n d itio n s
in y o u r section. W e k n o w y o u r w an ts and w ish to se rv e y o u .

August, 1916

THE

NORTHWESTERN

BANKER

13

Oliver, special representative, were both present at
the South Dakota Convention to represent the bank.
$---------$.--------$

Bankers in Iowa are getting into the political cam­
paign early this year for offices in the Iowa Bankers
Association for 1917. Up to date the candidates for
presidency are A. F. Dawson, president of the First
National Bank of Davenport, J. H. ingwersen, presi­
dent of the Peoples Trust and Savings Bank of Clin­
ton, J. H. McCord, cashier of the Citizens National
Bank of Spencer, and S. M. Leach, president of the
Adel State Bank, of Adel. The candidates for treas­
urer are F. D. Ball, cashier of the Iowa State Savings
Bank of Creston, O. F. Fryer, cashier of the Iowa State
Savings Bank of Fairfield, and E. R. Campbell, as­
sistant cashier of the Commercial National Bank of
Fort Dodge. It is probable that several other candi­
dates will be in the field before convention time.
$------ $----------- $

Guaranty Trust Company of New York had deposits
on June 30, 1916, of $437,992,912.82, which is a gain of
over $156,000,000 compared with the corresponding
statement of a year ago. The total resources on June
30th were $520,744,575.24.
$----— $-------- $
The University of Chicago Press has just published
a very interesting book entitled “Principles of Money
and Banking” by Harold G. Moulton. This volume of
readings includes a discussion of the various monetary
controversies and deals with the subject of money in
connection with the evolution of economic society. On
the banking side, in addition to the usual treatment of
commercial banks, including the operation of the new
Federal Reserve system the book makes a careful
analysis of the principles of agricultural credit and of
savings and investment institutions. The price of the
book is $3.00 net, postage being extra. The weight of
the book is three pounds and one ounce.
$-------- $-------- $

The Central State Bank of Omaha, which was re­
cently refused a charter by the state banking board, is
planning to bring a mandamus suit to compel the state
banking board to issue a charter for their bank. The
officers of the bank have fully complied with all the re­
quirements of the Nebraska state banking law in the
organization of their institution and believe there is
no reason why they should be denied a charter. The
bank has a capital of $200,000 and its officers are Albert
S. White, president; W. C. Lambert, vice-president,
and Arthur Hoover, cashier.

WHERE PRIVACY PREDOMINATES

LET THE WALTERS SYSTEM SERVE YOU


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American Opportunities
in China
A few years ago our trade
with China was very imporXXIII
tant. Many American fortunes
were founded on Far East im­
porting and exporting.

Guaranty
Service

In our opinion the next few years ought
to bring about among our people a new and
stronger interest in China. With all of the
possibilities and natural advantages which
China possesses, it seems certain the. t the
real development of that country must soon
commence, and that in this development
American manufacturers, contractors, engi­
neers and bankers must sh re, or else miss
one of the greatest opportunities of their time.
To point out to bankers and business
men the present opportunities in China, we
have prepared a booklet of information con­
cerning China’s finance, agriculture, indus­
tries, and foreign trade.
We shall be glad to send this
booklet to those interested

Guaranty Trust Company
of New York
Capital and Surplus -

-

$40,000,000

A. J. Bennett, president of the Madison State Bank,
Virginia City, Montana, in an address before the Mon­
tana Bankers Association, said: “J. H. Millard, of
Omaha, when a young man of twenty-eight years, was
selected by B. F. Allen, of Des Moines, one of the lead­
ing financiers of Iowa in 1863, to manage a bank in
Virginia City. Mr. Millard reached Virginia City
early in 1864 and erected the building in which he
began the banking business of Allen & Millard, the
first banking firm within the limits of what is now
Montana. The building stands today just as it was

14

THE

NORTHWESTERN

CORN EXCHANGE
NATIONAL BANK
OF CHICAGO
C a p i t a l ....................
S u r p lu s ....................
U ndivided Profits .
D eposits . . . .

$ 3,000,000
5,000,000
1,500,000
60,000,000

B À N K Ë R _____________ August, 1316

completed by Mr. Millard in 1864. The counters, desks
and chairs of the original equipment are all home made.
The vault and doors are as originally constructed,
though at the time the bank was opened they had not
arrived and in their place were wooden ones painted to
represent iron. Mr. Millard sold the business of Allen
& Millard in 1866 and returned to the States.”
# $

—

--- $—------ $

Nebraska State Banks, according to the last call, had
deposits of $142,000,000, which is $11,000,000 more
than they had at the call three months previous. This
means that state bank deposits amount to more than
$100 for every man, woman and child in the state—one
of the most remarkable records ever made in Nebraska.
The increase is close to $25,000,000 for the past year.
The report is from 826 state banks, which have total
resources of $170,000,000.
$------- $-------- $
L. W. Hill was recently elected a director in the
Stock Yards National Bank of South St. Paul. His
father, the late James J. Hill, associated himself with
the South St. Paul bank several months before he died
and acquired a considerable amount of the stock.
$------- $-------- $

O F F IC E R S
E R N E S T A. H AM ILL, President
C H A R L E S L. H UTCH INSON, V ice-Presid en t
C H A U N C E Y J. B L A IR , V ice-P resid en t
D. A. MOULTON, V ice-Presid en t
B. C. SAMMONS, V ice-P resid en t
F R A N K W . SM ITH, Secretary
J. E D W A R D M AASS, Cashier
JA M E S G. W A K E F I E L D , A ssista n t Cashier
L E W IS E . G A R Y , A ssista n t Cashier
E D W A R D F . SC H O E N E C K , A ssista n t Cashier
D IR E C T O R S
C H A R L E S 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. B U T L E R
C H A R L E S H. H U LB U R D
BE N JAM IN C A R P E N T E R
W A TSO N F . B L A IR
E D W IN G. FO R E M A N
C H A R L E S L. H UTCH INSON
E D W A R D A. SH ED D
E R N E S T A. H A M ILL
F oreign E xch an g e

Letters o f Credit

Cable T ran sfers

Our fa cilities for handlin g th e accounts o f North­
w estern B ankers are unexcelled.


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Federal Reserve Bank of St. Louis

The Twin City Clearing House, created as a means
of stabilizing and making uniform the clearing of
checks between banks of Minneapolis and St. Paul, has
opened in the Federal Reserve Bank, New York Life
Building. The new medium for exchanging checks
has been called into existence by the necessity for an
intermediary or auxiliary organization, other than the
reserve bank clearing house for checks of country
banks. Neither the Minneapolis clearing house nor
St. Paul clearing house associations will be affected
by a new Twin City clearing house.
$-------- $-------- $
Willis McCook, director of the Pittsburgh Steel Cor­
poration, in a recent statement, said, “The Federal Re­
serve Law as it now stands has practically robbed
banking institutions of their main function, making
them merely depository places. What I would suggest
is an amendment to the present measure containing a
provision for trade extension whereby credit can be ob­
tained by South American and other countries.”
$---- — $--------$
J. H. Pullman, formerly of Anderson, Iowa, has pur­
chased a substantial interest in the State Bank of Tabor
and will take an active part in the management of that
institution. Mr. Pullman is a very successful young
banker and the bank and town as well are to be con­
gratulated upon securing him. The State Bank of
Tabor has a capital of $25,000, surplus and profits of
$15,000 and deposits of $175,000.
$-------- $-------- $

Knauth, Nachod & Kuhne Company, of New York,
in their trade letter issued recently, said: “Business
men are cautious and are taking care to avoid the spec­
ulative excesses of former years. The number of com­
mercial mishaps showed a falling off last month, being
the smallest monthly total since the European war be­
came the great disturbing factor everywhere. It is
evident, however, that business is gradually changing
in character, since each week witnesses some falling off
in the class of foreign orders which have been a chief
source of large earnings ever since the war started.
This change was bound to come as the inquiry has
been utterly abnormal and governed by conditions
which have never before existed. Some of the muni-

August, 1916_______________T H E

NORTHWESTERN

BANKER

15

Mr. Kunkel Increased His Business 300
Per Cent With Our BusinessBuilding Campaign
In writing us on the 22d of May he says:
“ We closed our Trade Extension on April 15th, and it was SO M E B IG DAY.
Not nearly all of the people could get into our store, as we had not moved into our big
new quarters, and we could not nearly wait on the trade that night.
“O ur total cash receipts for the day were $425.00, which wasamore than our sales
for the whole month of April, 1915. O ur sales from April 1st to froth were $1,195.75,
and business is a great deal better now than it was at this time last year.
“During our campaign we put in a line of kodaks, and during seven short months
we sold over forty.
“Altogether we had .a very successful campaign, and we are well satisfied. W e in­
creased our sales over 300% over the business for the corresponding months of last year.
W e are thinking of putting on another of your campaigns.
Yours very truly,
T . C. K U N K E L .

T h i s In terests Y o u as B a n k e r
in that you are business counselor to the people of your community. You are looked to for plans
and methods that will assist people in business deals.
Should a merchant customer of yours come to you wanting to know what he could do to raise
a lot of ready cash quick to meet some obligation, what would you suggest to him?
We recommend that(you suggest the Brenard Plans to him.
These plans will increase a merchant’s business all the way from 20 per cent to 75 per cent
within a year, it will collect his outstanding accounts without giving the least offense to his
customers, it will get full retail price for his odds and ends and slow sellers, it will get hipi a lot
of new customers that will stay by him,
If you would be in position to give your merchant customers a conservative, intelligent, basedon-facts answer when they come to you, write us for a full detailed description of our plans. We
will be glad to send it to you without your feeling that you are placing yourself under any obliga­
tions to us whatever.

BRENARD


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Federal Reserve Bank of St. Louis

M FG.

CO.,

Iowa City,

Iowa

THE

16

NORTHWESTERN

ATLANTIC

BANKER

August, 1916

NATIONAL

OF THE CITY OF NEW YORK

BANK

Organized 1829; Nationalized 1865.

C apital S to c k ................................
S urplus and U n d iv id ed P rofits

$ 1,000,000.00

7 5 0 ,0 0 0 .0 0

OFFICERS
P H IN EA S C. LOUNSBURY,
C h a ir m a n o f t h e B o a rd
EDW ARD K. CHERRILL,
V ice-President
EDW A RD V. GAM BIER.
V ice-P resident
FRANK E. ANDRUSS,
C ashier

HERM AN D. K OINTZE,
P re s id e n t
GILBERT H. JOHNSON,
V ice-President

KIM BALL C. ATWOOD.
V ice-P resident
W ILLIAM F. FITZSIM M O NS.
A ssistant C ashier

We Solicit D eposit A ccounts Iro m B an k s, B a n k e rs, T ru s t C om panies, C o rp o ratio n s, F irm s a n d In d iv id u als

JESSE E. COLE COMPANY
C E R T IFIE D PU BLIC A CCO UNTANTS
AUDITS, SPECIAL INVESTIGATIONS AND
FINANCIAL REPORTS MADE FOR BANKS,
INDIVIDUALS

AND

C O R PO R A TIO N S

S u ite 412 S e c u r itie s B u ild in g
DES MOINES, IOWA

Attractive F ixtu res are a

BANK’S B est ASSET
Then W hy N o t Get “Ehrlich” Fixtures and Increase Your Business?

tion plants will soon be consigned to the scrap heap,
others will be equipped with new machinery and still
others will be operated on one-half or one-third time.
None of these plants can be expected, of course, to
clear as large profits in the future as they have in the
past. A Mexican war might change the outlook, and
the development of the preparedness campaign may
keep a portion of the machinery in business, but it is
perfectly evident that the munitions industry has had
its day, so far as European orders in the present situa­
tion are concerned.”
$---------$----- —$

The Mechanics & Metals National Bank, New York
City, sent out a letter recently which says in part, “We
refer to the quantity of new securities which the Amer­
ican public is quietly and steadily absorbing. Without
any phenomenal stock market activity since the open­
ing of the year, American investors have absorbed not
only the bonds and stocks sent at regular intervals from
Europe, but their investment appetite has permitted,
besides, the issuance of $1,330,000,000 new railroad and
industrial securities in the six months from January
1st to June 30th. This amount compares with $760,000,000 in the corresponding period last year. The
quantity of securities that is being absorbed by the
American public is testimony of an unmistakable kind
regarding the nation’s growing wealth. So long as a
steady absorption of high-class securities goes on, one
need feel little concern for the soundness of the finan­
cial situation. In every conceivable way, the large
financial and business interests of the country are seek­
ing to check tendencies toward extravagance—particu­
larly toward extravagance in the purchase of unsea­
soned securities.”
$---------$---------$

If You so Desire W e WJ11 Help You
Design Them. W rite Us Today.

H. EHRLICH & SONS

MFG. CO.

ST. JOSEPH, MO.

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Federal Reserve Bank of St. Louis

New York Bankers are very much interested in a
bill introduced by Representative Carter Glass, chair­
man of the house committee on banking and currency,
which authorizes national banks to establish branches.
The measure provides that institutions located in cities
of more than 100,000 inhabitants and having a capital
and surplus of $1,000,000 or more may establish
branches within the corporate limits of the city. Na­
tional banks located in smaller cities may establish
branches within the limits of the county in which they
are located, provided that the capital of the parent bank
is equal to the aggregate of the amounts which would
be required of each branch, if organized as an inde­
pendent institution, together with the amount required
of the parent bank.

THE

August, 1916

NORTHWESTERN

BANKER

17

The Bank of Direct Service
Over
1,000 Direct
C onnections.
Try Us!

""First National
^ iBankoiOmaha

The
Oldest
N ational Bank
in N ebraska

Capital and Surplus $1,500,000
E. T. Meredith has resigned from the directorate of class and expects to have $27,500,000 insurance in force
the Federal Reserve Board in order to be free to devote at the close of 1916.
all his energies to the campaign for the governorship
. $---------$-------- $
of the state of Iowa. Several successors have been
Light Occupations: Being cashier of a river bank.
mentioned, including C. L. Herring, of Des Moines.
$ - ------- $------ - $
Homer Pitner, Assistant Cashier of the Cedai; Rap­
The First National Bank and Farmers Loan and ids National Bank, invaded the east during the middle
Trust Company of Iowa City issued a statement at the of July. His principal mission was attendin g the
close of business June 30th, which shows a continued Shriner’s Convention in Buffalo.
growth for these aggressive institutions. The deposits
$------ _$------- $
of the trust company have gone over the million dollar
James Lambertson, familiarly called “Jim,” cashier
mark, and the combined deposits now are $1,886,475.86. of the Sioux Falls Savings Bank, and Frank Yetter,
W. J. McChesney, well known to Iowa bankers, is pres­ cashier of the Iowa National Bank, Davenport, recently
ident, and Thos. Farrell is cashier.
bumped into each other in Chicago’s loop district.
$--------$_--------$
Some one’s imagination may stir at the thought of two
M.
J. Wragg & Company, Landscape Architects, Dessuch good fellows meeting in such neutral territory,
Moines,- besides doing landscape work for individuals
have done a great deal of work both for State and
Federal Governments. In the latter they have de­
veloped the grounds about the buildings at Mexico,
“Checks are
m oney”
Maryville, and Boonville, Missouri. In Iowa they
have done the work at Iowa Falls, Clarinda, Denison
and other points.
$---- $-------- $

Frank E. Speirs, vice-president of the Farmers Sav­
ings Bank, Ankeny, Iowa, writes that -they are build­
ing on to their present structure and are installing new
fixtures of mahogany and tokay marble. At the close
of business, June 30th, the Farmers Savings Bank had
surplus and undivided profits of $2,696.96 and deposits
of $152,291.69.

W hy Do They?

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

R. W. Walters, vice-president and principal owner
of the Charles E. Walters Company, Council Bluffs,
Iowa, is to be one of the members of a new firm just
organized in that city under the name of Walters & H
Hammond Investment Bankers. The firm will have a
cash capital of $25,000 and will handle investment ac­
counts in all parts of the country but will have its
offices at 549 Broadway, Council Bluffs. Mr. Mr.
Walters will not sever his connection with the Charles ®
E. Walters Co.
$--------$--------$

sf

W. M. McConnell, General Manager of the Western
Union Life Insurance Company, Spokane, Washing­ 11
ton, and formerly in the banking business in South Da­
kota, has been instrumental in making the first six
months of this year the best in the history of his com­
pany. The Western Union Life is in the $25,000,000

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

Why do 80 per cent of the banks and
trust companies in the larger cities make
their checks on National Safety Paper?
They are willing to pay a little more for
their checks, so that their clients’ money
transactions may be surrounded by the
greatest known protection against alteration.
A sk your stationer, printer or lithographer f o r
checks on National Safety Paper, or 'write us fo r
samples.

G eorge La M onte & Son
F o unded 1871

61 Broadway

N ew York

THE

18

NORTHWESTERN

BANKER

August, 1916

but nothing more exciting happened than a hearty ex­
change of congratulations on the honors bestowed
upon each at their recent respective state conventions.
THE STATE SAVINGS BANK OF HORNICK,
IOWA, HAS MADE A FINE INCREASE
IN DEPOSITS.
The State Savings Bank of Hornick, Iowa, has made
a nice increase in its deposits since its organization in
1904. The last call from the auditor of state on March
28, 1916, showed the deposits to be $217,192. The call
on May 17, 1906, showed the deposits to be $103,888;
on February 8, 1911, $138,490, and on February 2, 1915,
$175,540.

1 LARGEST IN THE WEST J
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T h e l a r g e s t b a n k f ix tu r e p l a n t in t h e W e s t is th e F i s h e r M o r r is p l a n t a t C h a r le s C ity . F i s h e r - M o r r i s e x p e r t s a r e
c o n s u lte d b y m o r e b a n k e r s a b o u t m o d e r n q u a r t e r s t h a n
a n y o t h e r firm .
M o re t h a n 3,000 b a n k s h a v e F i s h e r M o r r is i n t e r io r s .

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T h e F i s h e r - M o r r i s o r g a n i z a t i o n is t h e o u t g r o w t h o f f o r t y - g
five y e a r s o f s p e c i a l i z a t i o n in p l a n n i n g a n d e q u ip p in g g
b a n k i n t e r io r s .
D o e s n ’t o u r e x p e r ie n c e , o r g a n i z a t i o n , g
f a c i l i t i e s a n d c a p a c it y m a k e u s t h e lo g i c a l o r g a n i z a t i o n g
to e n t r u s t w i t h t h e m o d e r n iz in g o f y o u r q u a r t e r s ?

Fisher-Morris Company

M
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C harles C ity, Iow a
liiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiM

Conrad Shenkberg and Franz Shenkberg were
elected directors of the Farmers Loan and Trust Com­
pany, of Sioux City, Iowa.
The Savings Bank at McCausland, Iowa, is soon to
be housed in a beautiful new building. These are the
plans of the owners, and the specifications are already
in the hands of the architect. The new bank building
will greatly add to the beauty of the community.
Contracts were let recently to Zack Eyres, of Le
Mars, Iowa, for the construction of two fine new fire­
proof banks in North Plymouth county. One will be
erected by the Farmers Savings Bank of Struble, and
the other by the German Savings Bank of Craig, Iowa.
The Farmers National Bank, Vinton, Iowa, recently
purchased the property just north of their banking
room from W. C. Boggs and will immediately com­
mence the erection of one of the finest banking build­
ings in the state.

T h e p resen t fine c ro p p ro sp ects assure a h e a v y fall
dem and fo r cattle feeding.
A n ticip ate th e needs of y o u r c o m m u n ity in th is line
b y establishing a c o n n e c tio n w ith th e

The Live Stock S ' Bank
OF CHICAGO

W rite us for particulars


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

August, 1916

THE

NORTHWESTERN

BANKER

19

W hat Banks Think of the Reserve Act
Compiled by Guaranty Trust Company
Five thousand three hundred and forty-five banking insti­
The Federal Reserve
country concerning the
tutions in the United States express their opinion of the
Act, as stated in the pre­
Federal Reserve system.
new Federal Reserve system of banking in this article, the
amble, is intended “To
I t h a s b e e n generally
facts for which were secured by the Guaranty Trust Com­
provide for the establish­
pany of New York and issued in pamphlet form.
known that this was the
ment of Federal Reserve
case and that there was
banks, to furnish an elastic currency, to afford means considerable opposition to some features of the act on
of rediscounting commercial paper., to establish a the part of bankers, both within and without the sys­
more effective supervision of banking in the United tem, but it has remained for this canvass to bring out
States, and for other purposes/’
the facts in a clear and unmistakable manner.
This act became operative with the opening of the
In view of the inauguration of the Federal Reserve
twelve Federal Reserve Banks on November 16, 1914. Bank’s new clearing plan for the collection of checks
During the long discussion, both in and out of con­ in any part of the country, it is particularly interesting
gress, which preceded the adoption of the act, there to notice the attitude of member banks on this feature
was naturally much diversity of opinion as to the ef­ of the law. Two hundred and sixty-two member banks
fect that its various provisions would have on banking that referred to this subject said that the Reserve sys­
and business in general.
tem should leave collections and clearings under con­
Believing that the business community would be in­ trol of member banks as has been done up to this time.
terested in knowing what the banks of the country Almost an equal number—256, to be exact—were fav­
think of this law after watching its operation for a orable to the more comprehensive system of collec­
year or more, we have made a comprehensive canvass tions and clearings.
among not only the member banks, but the non-mem­
Of the 1,760 favorable replies, 1,229, or 70 per cent,
ber banks of the country, asking them to give us their are from member banks, and 531, or 30 per cent, from
candid opinion of the law and of its direct result on non-member banks.
themselves and their community.
Of the 1,773 unfavorable replies, 1,088, or 61 per
It probably will not be very comforting to the Fed­ cent, are from member banks, and 685, or 39 per cent,
eral Reserve Board and the sponsors of the act to learn, from non-member banks.
as they will from a perusal of the results of this quesOf the 1,811 replies that are non-committal, 392, or
tionaire, that banks maintaining a critical attitude 21 per cent, are from member banks, while 1,419, or 79
toward the law slightly outnumber those more favor­ per cent, are from non-member institutions.
ably disposed, while those that are non-committal on
Suggestions Offered by National Banks.
the subject exceed in number either of the other two
General approval, 636; favor one central barik, 135;
classes. Replies were received from 5,344 banking in­ in favor of abolishing comptroller’s office, 209; suggest
stitutions, of which 2,709 were national or member guarantee of deposits, 34; permit part of reserve to be
banks, and 2,635 state banks and trust companies. kept with correspondents, 56; membership of state
Banks from all over the country responded, and it is banks necessary for success of system, 44; permit F.
safe to assume that a summary of the replies indicates R. notes to be counted as legal reserve, 28.
quite accurately the general sentiment among all the
Objections Offered by National Banks.
banks in the United States regarding this new law.
Would not be a member if optional, 146; rediscount
While there are upwards of 25,000 banks in the coun­ privilege of no value, 34; rediscount privilege of little
try—and in the canvass replies were received from a value, 243; object to limitation of farm mortgages to
little over a fifth of them—nevertheless it is probable 25 per cent of capital, 53; exclusion of restrictions on
that this is the most thorough “straw vote” that ever real estate or mortgage k ins (other than farm mort­
has been taken on a financial question.
gages), 76; no dealings with F. R. Bank, 699; few
From the very beginning there naturally has been dealings with F. R. Bank, 206; object to political asgreat difference of opinion among the banks of the
continued on page 50.)'

T h is is to rem in d y o u th a t th e

Leavitt & Johnson National Bank
and

Farmers Loan and Trust Company
of W aterlo o , Iow a, are n o w w ell established in th e ir n e w ho m e and are b e tte r
prepared th a n e v er to do a general b an k in g business and to m ake and sell first
m ortgage loans and o th e r h ig h grade in v estm en ts.
W e solicit y o u r business.


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Federal Reserve Bank of St. Louis

20

THE

NORTHWESTERN

BANKER

August, 1916

Legal O p in io n s and D ecisions
This department contains each month excerpts from the
Payment by Bank under
Baldwin 158 N. W. 371,
latest decisions on banking and commercial law carefully
the
following points are
Mistake as to Suffi­
selected from recent decisions of the supreme courts of
noted:
ciency of Makers Funds.
Iowa, Nebraska, Minnesota, North and South Dakota, and
from other states when the decisions are of interest to
1.
Simmons drew a check
our subscribers. Questions of interest to bankers will be
sory note which reads as
for $90 on the Central
discussed and ANY S U B S C R IB ER has the privilege of
follows, “The makers and
State Bank and delivered
writing for information and advice on any legal subject.
endorsers hereof waive
same to Latimer. Latimer
He will receive an immediate reply from our attorney
without any fee or expense. A complete trial brief of any
demand notice and protest
presented the check prop­
subject involving exhaustive research in a complete Law
and all defenses on the
erly endorsed in due
Library will be furnished at any time for $10.00. In writ­
ground of time of pay­
course and received the
ing for information, kindly enclose a 2-cent stamp for
ment that may be given
cash.
reply and address “ Legal Department,” care The North­
by the holders to them or
western Banker, Des Moines.
The next day Latimer
either of them,” does not
received notice that pay­
ment had been made under mistake and that Simmons render the note non-negotiable.
2. A payee who endorses such a promissory note as
had not in fact funds on hand when the check was paid
and that Latimer would be expected to return the follows, “I hereby guarantee payment of within note
money, or failing to do so, would be sued. Is Latimer and waive demand and notice of protest on same,”
thereby assumes the liability of an endorser and may
liable?
Answer: A bank is charged with knowledge of the properly be sued with the maker in the same action.
3. The finding of a court in a law action based on
true state of each customer’s account when a check is
presented. If the Bank pays, its only recourse is conflicting evidence has the same weight as the ver­
against the drawer, if funds are not sufficient on hand dict of a jury.
The Supreme Court of Michigan in Stretch vs.
to cover the check. See Trust Co. vs. Huff, 33 L. R.
Stretch, 158 N. W. 185, holds among other vital points
A. (N. S.) 1023.
However, if Payee is not a bona fide holder or if that where a person has given a note to one since de­
money is paid to the drawer in person it may be recov­ ceased, that the burden of proving payment by settle­
ered. Jamestown Bank vs. Weber (N. D.) 124 N. W. ment with heirs of the payee rests on defendant.
Conversion of Bank Draft.
952.
The President of a bank and the Attorney for a
Forged Signature.
The rule that a drawer pays at his peril a bill on County Treasurer who, after having secured from the
which drawer’s signature is forged was established bank a draft payable to the Treasurer to enable him to
early in America following the English doctrine. It settle his accounts with the County, and after he has
indorsed it to himself as Treasurer, return it to the
has been considerably criticized, but still remains.
Wheie a check is paid through Clearing house with bank for cancellation, are held guilty of conversion.
endorsement of bank presenting it, “Indorsements Hooten vs. State—178 S. W. 310. _
This appears to be the first case in the United States
guaranteed,” this is a guarantee of genuineness of the
whole instrument, including endorsements, except the to pass upon the rights and liabilities of parties to
signature of the drawer. Produce Exchange Bank vs. paper used to enable an officer to settle his accounts.
Bank Agreement to Pay Check.
City Bank—119 N. Y. Supp. 988.
A National Bank agrees with a live stock buyer
The best explanation of this seemingly hard rule is
that it rests on the equitable principle that between through the bank’s President that if he purchases live
two persons having equal equities, one of whom must stock and gives checks on the bank the same will be
paid, provided, that by time they are presented the
suffer, the legal title shall prevail.
The holder of the bill of exchange paid away his drawer shall have resold the stock and deposited the
money when he bought it. The drawer parted with proceeds in the bank. In pursuance of such agreement
his money when he took it up. Each paid in good the customer issued checks in payment for stock which
faith. In natural justice both are equally meritorious, he at once resold, depositing proceeds in the bank.
He owed the bank a note made prior to this agree­
but the holder of the money has secured it legally and
a court cannot properly compel him to surrender his ment, which became due and the bank proceeded to
apply the funds on hand to payment of his indebted­
legal advatnage. See Price vs. Neal 4 Har.
ness to them. As a result his recent checks given for
Individual Interest of Bank Officer in Loans.
A bank officer and cashier were interested in a local purchase of stock were returned marked “no funds.”
The holder and payee brought suit against the bank
tile factory owned by one Ellis. Ellis had a contract
for tile which was secured for him through the bank and the Supreme Court of Kansas, 136 Pac. 935, gives
officers and they were to have 25% of the profits. In judgment against the bank, notwithstanding holder
order to finance the deal, Ellis borrowed $1,000 of the knew nothing of the agreement between the bank and
bank on the cashier’s promise to hold him harmless if drawer of the check.
Commencing with the next issue this department
there should be no money in the deal. They lost on
the contract and the bank brought suit on the note. will begin in connection with other features, a section
Ellis set up the above facts as a defense but the Su­ by section analysis of the Uniform Negotiable Instru­
preme Court of Nebraska in Packers Bank vs. Rushart, ments Law and its interpretation by courts of the
152 N. W. 789, held the borrower was nevertheless Northwestern Judisdiction.
liable to the bank.
The City State Bank of Ogden, Iowa, has increased
Negotiability of Notes.
In the recent case of Bank of Sidney, Nebraska, vs. its capital stock from $25,000 to $50,000.


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Federal Reserve Bank of St. Louis

A

August, 1916

THE

NORTHWESTERN

BANKER

21

Study T h e s e Floor P la n s

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HAM

H e r e a r e s u g g e s t i v e id e a s in b a n k i n g flo o r a r r a n g e ­
m e n t. L o o k a t t h e s e p la n s , M r. B a n k e r . S tu d y th e m
c lo s e ly . E a c h w a s d e s ig n e d b y u s to m e e t t h e a c t u a l
w o r k i n g r e q u i r e m e n t s o f so m e p a r t i c u l a r i n s t i t u t i o n .
T h e p r o b le m o f d e s i g n in g y o u r n e w q u a r t e r s so
th e y w ill e ffic ie n tly m e e t y o u r f u t u r e n e e d s a n d p a r ­
tic u la r r e q u ire m e n ts ca n b e s t be m e t by g e ttin g th e
p e r s o n a l s u g g e s t i o n s o f J . A. R a v e n — a re c o g n iz e d
a u t h o r i t y in b a n k d e s ig n in g . T h e s e r v ic e s o f a n e x ­

TH E

L Y T L E

p e r t w h o s p e c ia liz e s in b a n k d e s ig n in g , p la n n i n g , c o n ­
s t r u c t i o n a n d e q u ip p in g , c o s t n o m o r e t h a n t h o s e o f
a r c h i t e c t s in e x p e r ie n c e d in b a n k i n g n e e d s , m e th o d s
a n d re q u ire m e n ts .
O u r o r g a n i z a t i o n s p e c ia liz e s in t h e d e s ig n in g , b u i l d ­
in g , r e m o d e lin g a n d e q u ip p in g o f b a n k b u i l d i n g s c o m ­
p le te . W e o p e r a t e u n d e r a n e w s y s te m — t h e S E R V IC E
S Y S T E M — t h e d e t a i l s o f w h ic h y o u s h o u ld k n o w . C o n ­
s u l t i n g u s p la c e s y o u u n d e r n o o b lig a tio n .

C O M P A N Y

J. A. RAVEN, P resid en t a n d G eneral M anager
Designers and Builders of Complete Bank Buildings

SIO U X CITY


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

IOWA

THE

22

NORTHWESTERN

BANKER

August, 1916

How Bankers are Advertising
Making Bank Advertising
bond owners regard­
This department contains ideas from different bankers tell­
ing the proper regis­
Pay.
ing of methods they have employed in advertising to se­
tration of their se­
I have a notion, says F.
cure new depositors and to increase their business. Use
curities, and will be
W. Ellsworth, based on
the ideas and plans that appeal to you and also write and
tell us what you have been doing along this line.
pleased to forward a
several years of observa­
new booklet, giving
tion, that far too many
the text of the new law with explanatory
bank advertisements are written from the standpoint
notes.
of the bank rather than from the standpoint of the cus­
The results were immediate and most gratifying—
tomer. There are far too many bank booklets that
contain matter which obviously is of no primary in­ indeed the demand for the booklet was so great that
terest to the persons for whom they are intended. This we were compelled to get out a second edition; and the
will explain why the size of the average waste paper fees which we received for assisting investors in ren­
basket has doubled during the past ten years. Let us dering their bonds tax exempt considerably more than
have less about ourselves in our bank advertising and paid for the entire cost of the advertising, to say noth­
more about the other fellow, and what we can do for ing of the possibilities inherent in the list of inquiries,
practically everyone of which came from a bond buyer.
him, and what he wants done.
This, I take, was advertising at the right time.
Advertising of the right sort must be honest, dig­
In 1914 at the outbreak of the European war, you
nified, harmonious, conservative and human.
will all recall that shipping on the Atlantic Ocean was
Advertising Should Be Timely.
In addition to being of the right sort, advertising, in practically at a standstill for several weeks. As a re­
order to pay, must be done at the right time. The sult of this condition business houses engaged in for­
merchant who advertises snow shovels in July and lawn eign trade were unable to transact business, and con­
mowers in December can expect no results. And the sequently their funds were for a time absolutely idle.
banker who advertises travelers’ checks and letters of Here certainly seemed to be an opportunity to effect
credit during the dull season, and seeks investment connections with desirable business houses by inviting
business when the bond market is dead, and invites reserve accounts, and by drawing attention to interestinterest-bearing checking accounts when money is bearing certificates of deposit. Accordingly our com­
pany began immediately an extensive advertising cam­
scarce, can expect the same enthusiastic response.
During the 1911 session of the New York State Leg­ paign in the New York dailies, beginning with an ad
islature a bill was passed which enabled holders of which read as follows :
Interest On Idle Funds.
bonds to render such bonds tax exempt by the pay­
Money awaiting employment may be
ment of a nominal tax. This law became effective on
September 1st. Promptly on that date our company
deposited with this company in a reserve
placed an advertisement in the New York daily papers
account subject to check, on which inter­
which read as follows:
est will be allowed; or it may be placed
Tax Exemption
on a time certificate of deposit which will
of Investment Bonds.
command a better rate.
Residents of New York State owning
Your idle funds will thus be earning an
imnds or similar securities may forever
income even while not permanently em­
exempt them from personal property tax
ployed.
by compliance with the new law, effective
Upon your personal or written request
TODAY.
we shall be pleased to submit a definite
As “Pax Day” in New York City has
proposition.
been changed to October 1st for assess­
Our pamphlet S-105 outlines our vari­
ment of personal property tax for the fol­
ous facilities.
lowing year, holders of bonds, in order to
This newspaper advertising was supplemented by
exempt them from such tax, must have
letters written to selected prospects. And largely be­
them registered before that date.
cause the advertising was done at the right time, we
This company is prepared to advise
received direct results in the shape of $1,800,000 worth

'i?* r\r\irv
'AN IOVA BANK increased its deposits
forty per cent in one year with my
Advertising Service for Banks. The
cost was no greater than for the year
previous. This Bank will tell you that
CRADDICK SERVICE is an investment. If
you will ask for Information I will
gladly send full details with an es­
timate for your ^consideration.

H. B. CRADDICK
Financial Advertising

1003-1006 First NatT Bank Bldg.,

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

Minneapolis, Minn.

SIGNS FOR BANKS

1 63

HANGER PANEL—b e v e le d p la te g la s s
"BRILLIANT” g o ld le tte r s

WESTERN DISPLAY CO., Saint Paul
SE N D F O R C A T A L O G

August, 1916

THE

NORTHWESTERN

23

BANKER

of new business. Perhaps you will say
that these were temporary accounts,
o n c /^ h o u ld
and therefore not profitable. Such is
not the case, however, for an analysis
of these accounts, made only a few
days ago—nearly two years after they
were opened—reveals the fact that
their present, balances are in excess of
the opening figures. In this connec­
tion, it is interesting to note also that
the profit on this business to date is
just ten times the cost of securing it.
Advertising of the right kind in­
cludes not only printers’ ink, but the
use also of carefully prepared letters
sent to carefully prepared lists. In the
spring of 1914 a condition existed in
this country which seemed to our com­
pany to warrant a campaign for thé
New York reserve accounts of savings
banks. Accordingly, a letter, especial­
ly designed to appeal to such institu­
tions, and sent out to several hundred
savings banks, with the result that new
accounts totaling $885,000 were re­
ceived. The profits on this business
the first year were forty-five times the
cost of the advertising.
757
Advertising Should Be Continuous.
1 or 2 or 5 or 10 cents will enter your BOY or GIRL in our “ Christmas
Bank advertising that pays, in addi­
Banking Club.” This will be the best financial education you can give them..
Start with this amount; increase with the same amount each week.
tion to being of the right sort and in
In 50 weeks:
addition to being timely, must be con­
12.75
1cent club pays.
tinuous. An effort today and a lapse
.$ 25.50
2cent club .pays.
of weeks, and then another spasmodic
5-cent club pays. ..$ 63.75
10-cent club pays. ..$127.50
effort and another lapse will produce
You can put in $1.00 or $2.00 or 5.00 each week and in 50 weeks
results quite as intermittent as is the
have $50 or $100 or $250.
advertising, if not more so. In dis­
We add . . . . per cent interest.
cussing the necessity for continuity in
Come in, ask about it and get a “ Christmas Banking Club” book FREE.
advertising, I like to use the illustra­
MEN and WOMEN can join.
You can start TODAY—START!
tion with which we are all familiar,
and which has been used many times,
BANK’S NAME HERE
_________
but which, nevertheless, is apropos.
Our CHRISTMAS BANKING CLUB is a Tremendous Success. A simple and
practical plan to get a large number of depositors. Operates Pass Book and
A certain American citizen was once
Card Index System. Easy to install. Easy to run.
advertised exhaustively and compre­
Be Sure and Investigate Our Plan.
hensively and continuously for six
TH E OUTCAULT ADVERTISING CO.
months. Probably several hundred
Chicago, 111.
1135 Caxton Building
thousand dollars were spent in the
(Please mention thie paper when writing)
campaign. His name was made known
to the American people from the At­
lantic to the Pacific and from the Lakes to the Gulf. the experience of the institution with which I am privi­
His picture became familiar to every schoolboy. Sud­ leged to be associated: For the past five years ou'r
denly the advertising stopped, and the man was prac­ bank has developed a consistent and continuous cam­
tically forgotten by a very large proportion of the paign for the accounts of out of town banking insti­
American people. Today not one person in ten can tutions. This campaign has consisted of continuoujs
give offhand the name of this man, who ran for vice- advertising in the banking and financial periodicals,
president with Bryan in 1896. His advertising did not supplemented by a continuous campaign of direct ad­
vertising by way of letters and publicity literature, anjl
endure—it was not continuous.
Bank advertising, like all advertising, in order to be still further supplemented by personal work. The
continuously effective must be continuously evident. business-of this nature which wei have on . our books
In the language of a well-known advertising agency, today is several times as large as it was when this
policy was adopted five years ago.
“keeping everlastingly at it brings success.”
Now an instance like this is not exceptional-—indeed,
That this is true is proved by the experience of a
considerable number of banks who today are success­ if I had the time at my disposal, and you had the pa­
fully conducting their advertising on a systematic, in­ tience to listen to me, I could tell you of the success­
ful experiences of many banks that have realized the
telligent, continuous basis.
In order to illustrate just exactly what I mean, let value of “everlastingly keeping at it” in their efforts to
(Continued on page 50.)
me, with your permission, cite one more example from

The man wit
open Bank
ior his
Help yours

A ccou n ts

children.

Xmas Banking Club


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

24

THE

NORTHWESTERN

BANKER

August, 1916

Billy Sunday Sermon on Overdrafts
B y S. L. Frazier
As a fitting “tribute” to the overdraft customer the follow­
In all business transac­
at the mourner’s bench
ing article was officially and sincerely dedicated. Every
tions both parties are sup­
and repent of their sins,
banker has had experience with the “ Little Red Devils,”
posed to have something
in this regard,—if they
and this is a proper sermon for their funeral service.
to say about the deal. In
don’t quit asking us to
other words, it takes two to make a bargain. You violate the banking laws,—if they persist in checking
wouldn’t relish it a little bit, if your banker came out on other customers’ accounts, we are going to “get
to your home, knocked you on the head with a club busy” some sweet day and “thrash” the daylights out
and proceeded to rifle your pockets for that deposit, of the whole bunch.
now would you ?
Of course, when we refuse to cash your checks, you
Well, your banker doesn’t enjoy your knocking him are going to get real angry, and in all probability go
down with a brickbat, in the shape of an OVER­ straight up through the roof, but you will come down
DRAFT, and taking his money without his having had again, the roof can be repaired, and the bank will con­
anything to say about it.
tinue to do business at the old stand just as if nothing
You have no more right to ask him to “misappro­ had happened. The banker is the man who ought to
priate” the funds of the bank, than he has to “swipe” get mad, not you. YOU ought to be ashamed of your­
your money, when you aren’t looking.
self. Your nerve is “the limit.” A banker is sup­
The OVERDRAFT EVIL is a miserable habit the posed to have plenty of “gall,” but the Overdraft Fiend
bankers themselves are partly to blame for. Like all has him “beat” by 47 rows of apple trees. If there is
other habits, it grows and grows and grows until it a “hole” in your account, “plug it up” and be quick
has become not only an “unmitigated nuisance,” but a about it.
“Menace,” as well. We have tried and tried and tried
We have worked the “moral suasion” scheme just as
to convince our customers that the habit is so vicious long as we are going to. We have grown hoarse
and pernicious—so entirely without rhyme or reason— “begging” our perpetual overdraft friends to “please
so reprehensible and indefensible—and without merit refrain”—“please be good”—“please don’t do it”—
of any kind, but to little avail, with some people.
“please, pretty please”—but that kind of “Homeop­
We have “illuminated” the subject until it would athy” treatment is a thing of the past. “Sugar-coated”
seem a blind man could see.
pills are all right for some people, but there are others,
We have “hollered” our heads off and “yelled” nothing short of “bone-set” tea or “calomel” will
bloody murder, on this proposition, until it would seem “faze.”
a deaf man could hear.
“Christian Science” (state of mind) works wonderful
We have explained and “explatterated” and eluci­ cures, but you can’t “cure” a “sick” account that way.
dated, until it would seem a fool ought to appreciate The gospel of Love wins a lot of folks, but there are a
and understand.
lot of old sinners on earth, you can’t convert with any­
We have coaxed and begged and plead—we have pe­ thing short of hell-fire and damnation.
titioned—we have supplicated—we have remonstrated,
Thinking things, helps—but if a man’s leg is to come
aye, we have thrown ourselves prostrate at your feet off you send for a surgeon with a butcher-knife and a
and implored in the name of all that is Safe and Sane in cross-cut saw, now don’t you? You may try to make
the Banking Business, to help us throttle this “illegit­ yourself think your “Red Account” is in the “black,”
imate” thing.
but you know it isn’t, and if you don’t behave yourself
The most of you have been very nice about it, but we shall send for the surgeon and when he is done with
there are still a few “fiends” who persist in running you there won’t be a leg left for you to stand on.
their accounts in RED, and they are the fellows we are
We have been “dubbed” the Billy Sunday of the
after. The only way to get along with some folks is Banking Business, and you can bet your bottom dollar
to have a regular “knock-down and drag-out,” occa­ we are going to hand out the “rough stuff” hereafter,
sionally, and if the guilty ones don’t get on their knees on this miserable, villainous, scandalous overdraft evil.

CENTRAL
IOWA’S
OLDEST
AND
LARGEST
BANK.
Founded 1860

Jfirët Rational Panfe
ifflarsifjalltohm, Sotoa
&nb Jfirôt Œruôt anb fairings! Panfc

Comtuneb Capital $250,000
O F F I C E R S
C. C. S T C L A IR , Pres.
A . M . F R IE N D , Vice-Pres.
H. K. D E N M E A D , Cash.
H. G E R H A R T , A sst. Cash.

D EPO SITS N E A R L Y T W O M IL L IO N D O LLA RS


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

■ jU R experv , ience gain­
ed in serving
this territory
for more than
half a century,
backed by our
u n e x c e 11e d
service and fa­
cilities are at
your disposal.

August, 1916

THE

NORTHWESTERN

25

BANKER

Billy says: “Dainty little preachers tell their congre­ er loans his money on his judgment, not yours. When
gations that if they do not repent they will go to a you overdraw your account you are “forcing” a loan.
place, the name of which is well known to them,” but, You are taking a mean advantage of your banker. You
he says, “I tell them if they don’t repent they will go aren’t treating him with common decency. You are
straight to hell.” “Cut out” the Overdraft habit or running a “bluff,” pure and simple. You are “daring”
him to turn down your check. You are asking him to
it’s “fire and brimstone” for you.
If you want a loan, for the love of Mike, come in and commit a crime by “misappropriating” the band’s
ask for it. Be a man and do business “man-fashion.” funds. You are asking him to lay himself liable to
Your banker wants to know how much money you arrest and imprisonment. You never thought of it in
want, but he never knows how much you are going to that light, did you ?
Drawing checks on a “no account” account, is an
use when you begin to overdraw your account. He
has a right to know and he has a right to know before­ Imposition.
Cashing checks with other people’s money is
hand, how long you want it, what rate of interest you
are willing to pay and all about it. He has a right to “fraudulent” banking.
An Overdraft is a Dare.
know. Maybe you owe him more now than you ought
It is not fair. It is a cowardly trick. It is a bad
to. Perhaps he will ask you how much you are owing
other people. He has a right to know that, too, espe­ habit. We are going to break you of the habit, or
cially if you expect money without security. The bank­ break our necks trying. We will make any man, who
IIIHIIIIII.....

A

BANK FOR BANKS

Advantage Number 3 in having as yo u r New York
correspondent, the Bankers Trust Company:
HE Company will pay interest on
deposits received from your bank­
T
ing institution, and such deposits will
be subject to withdrawal without notice.
The rate of interest allowed will be as
high as money conditions and the size
of the accounts warrant.
Many banks and tru st companies
throughout the United States find it
advantageous to keep with us not only

a part of their legal reserves, but also
a part of such funds as they may have
in excess of local demands.
When you are in New York let us have
the pleasure of seeing you. Our officers
will be glad to meet you and show you
through thevariousdepartments. In this
way you will obtain first-hand knowl­
edge of our organization and equipment,
and our ability to give efficient service.

BANKERS TRUST COMPANY
16 Wall Street

Second Floor o f Bankers T ru st Company Building


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

|
M
M
M

|j
M

|f

[

New York

Resources, over $ 2 5 0 ,0 0 0 ,0 0 0

lllllllllllllllllllllllllllllllltlllllllllllllllllllllllllllllllllllllllllllllllllll

|

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26

THE

NORTHWESTERN

BANKER

August, 1916

312-314-316 8th Street
DES MOINES

W

E FURNISH AND DECORATE Fine H om es in all

P arts of th e State of Iow a. O u r S to ck s and S erv ­
ices A ppeal to P eople W h o D esire T h e ir A b o d e
to be E x p ressiv e of R efin e m e n t and G ood T aste ; A rtistic,
Individual, C om fortable.
WE INVITE CORRESPONDENCE AND INSPECTION FROM INTERESTED PARTIES

can assign one good and sufficient reason why this hab-

Leavitt and Johnson National Bank
Waterloo, Iowa '

PR0UDF00T BIRD & RAWSON

it should be tolerated, a present of $1,000.00 in cold
cash.
The Overdraft Evil is primarily responsible for most
of bank failures. Bank suspensions are, usually, the
result of “bad loans.” These bad loans were, for the
most part, originally, Overdrafts which the banker in
his dilemma took notes for, to clean up the books. He
took the Little Red Devils off the Daily Balance and
put Hell in the Bill Case. See? We are not going to
contract a lot of bad loans through the Overdraft Evil,
so you better “cut it outw or we’ll do it for you.
Why, the man with a gun tells us to “hand it over,”
but the O. D. fellow helps himself without as much as
saying “by your leave.”
The fact that the Supreme Court and the Comp(Continued on page 50.)

Central State B ank, Des M oines
E rected by C has. W eitz Sons

Architecte

This firm has been continuously engaged in the erection of
high-class buildings for over sixty years. The repeated orders
from satisfied owners is our best recommendation. Let us
build for you your new bank building.

810 H u b b ell B id s .
DES MOINES, IOWA

CHARLES WEITZ SONS
BUILDING CONSTRUCTION
DES MOINES. IOW A


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

August, 1916

THE

NORTHWESTERN

BANKER

27

W. C. ERICSON, ASST. CASHIER
g

Merchants State Bank, Red Lake Falls, Minn,

g

“We are enclosing you herewith our draft
for $2.00, being a renewal for your magazine
for the ensuing year. We find many very ing
teresting, as well as very beneficial items
j§ in your magazine and we could hardly get
g along without it.”

j§
g
g

|j
g

§ jj

jj

“T h e y ’re p o sted to th e
co rrect a c c o u n ts.”
A. C. WALLER, TREASURER
jj

Federal Deposit

&

Trust Co., Dubuque, Iowa.

“We are enclosing herewith our expense
g check for $2.00 to cover subscription from May,
jj 1916, to May, 1917, to The Northwestern
g Banker. We wish to compliment you on the
8 magazine you are publishing. In two instances
Ü we have used ideas promulgated by other
jj banks, having obtained the information in your
ij periodical, and we have found it very profitable
g from a banking standpoint. The writer has
g made it a point to read your magazine carefully
jj each month, as I have found it full of informa■ tion pertaining directly to our business.”

jj

Ü
j
g
¡j
g
g
g
jj
g
S
g

S. L. FRAZIER, VICE-PRESIDENT
First National Bank, Verndale, Minnesota.
g

jj
jj
§f
Ü

jj
I
g
g
g
I
¡j

“I have received The Northwestern Banker |
for June and your Convention issue is surely B
one to be proud of. I have read it from ‘kiver j
to kiver’ and want to congratulate you upon 8
its appearance and contents. The Northwest- f§
ern Banker is better than most and as good as jj
any financial magazine published. When they ¡J
handed me your June issue, I took a look at §j
it, placed it on the mantle, removed my lid, and B
made a very profound bow, for it sure is a 8
‘hum-dinger,’ a ‘lolly-polluser,’ a ‘rip-snort- jj
er,’ full of good articles, a thing of beauty, and jj
therefore a joy forever.”
g

Proof of posting to the right
account is furnished at the
end of each run.
W ith in fifteen minutes complete
proof of the w ork is obtained from
every angle.
There is no part of the w ork left at
the end of the day to hold over till
th e n ex t. Each d a y ’s w o rk is com ­
pleted th a t sam e day.
T h e value of such u p -to -th e -m in u te ac­
counting is obvious. Its significance lies
in the fact that it presupposes more perfect con­
trol in bank bookkeeping than it has been possi­
ble to obtain in the past. A nd control is the
first essential in accounting.
Consider w hat immediate control and proof
of this sort w ould mean in y our institution.
You can have it. It is made possible by the
Elliott-Fisher Bank Bookkeeping Machine, be­
cause. w hile still keeping the safeguard of the
double check, it posts the ledger, makes custom­

er's statement and auditor's journal of checks and deposits all
at one operation.
We have facts about the desirable results obtained with El­
liott-Fisher that are worth your investigation. Use the attach­
ed coupon. We will forward an instructive article on the sub­
ject, and put you in touch with our representative near you.
There is no obligation. 'Write today.

Elliott-Fisher Company
825 Cameron Street

E L L IO T T -F IS H E R C O M P A N Y
825 Cameron St.
Harrisburg, Pa.
Gentlemen:— K indly send information about the results obtained
w ith Elliott-Fisher Bank Bookkeeping Machine.
This does not place me
under any obligation.
N a m e ______________________________ __________________________________
Nam e of B a n k _________________________________________________________
Address

ffllllllllllllllllllllllllilllllilllllH


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

H arrisburg, Pa.

Offices in all Principal Cities

28

THE

Farm

NORTHWESTERN

Mortgage

BANKER

August, 1916

Departm ent

ln this department the various phases of the Farm Mort­
within our own country,
The following interest­
gage business are discussed, as it is our desire to bring to
but also those resulting
ing article is by H. M.
you all the helpful suggestions and ideas possible along this
from conditions abroad,
Hanson, secretary-treas­
line. We shall be glad to have you ask any questions con­
cerning Farm Mortgages that may be puzzling you. Also
over which our own citi­
urer of the Farm Mort­
we shall be glad to have you express your opinions on any
gage Bankers Association
zens have no control.
particular subject along this line in which you are inter­
“The various p h a s e s ,
of America :
ested. Address your letters to “Farm Mortgages,” North­
then, coming up for pres­
“It may be said as a
western Banker, Des Moines, Iowa.
ent and future considera­
general proposition that
the business of farm mortgage banking as now con­ tion on the part of farm mortgage bankers, may for
stituted and established is facing a crisis or a series convenience be enumerated as follows:
“Wartime conditions as they affect farm mortgage
of crises, and that within the few years immediately
ahead and possibly within the next few months farm banking.
mortgage bankers will have problems to solve that
“Preparation for meeting conditions incident to the
hitherto have not presented themselves—perplexing declaration of peace in Europe,
questions that inevitably must be encountered and
“Adjusting our practices to the operations of the
federal land bank system.
mastered.
“In considering the first item it will be recalled that
“The great concern then is, first, to analyze the
status of present and prospective conditions and their the closing of the stock exchanges immediately follow­
underlying .causes, and second, to evolve proper and ing the declaration of war in Europe necessitated a
effective methods for meeting such conditions.
marked revision of the business practices in this coun­
“In notable instances in the past half century the try, the influence of which materially extended to the
United States has been obliged to pass through pe­ farm mortgage business. It brought the farm mort­
riods of readjustment in its internal business affairs, gage bankers face to face with new and changed con­
and in each recurring disturbance unique agencies ditions.
“In its general aspect farm mortgage banking had
have been employed to bring about a recovery. In our
onward march of development the creation of new continued undisturbed in the even tenor of its way
commercial and industrial enterprises has been at­ for a score of years prior to the European war. Com­
tended by new problems calling for solution; the de­ petition among mortgage men was keen, both in orig­
velopment of our great natural resources has called for inating and in marketing securities. The great nat­
unlimited capital and enterprise that has constantly ural law of supply and demand then as now operated
begot problems in our political and financial life hith­ for the maintaining of equitable rates of interest both
erto unknown.
for the borrower who emitted the .security and for the
“Thus progress begun in our early history has been investor who purchased it. During this period pioneer
periodically punctuated by financial disturbances and loaning fields by natural processes came to be more
business reverses that ultimately were overcome stable in character, both as to the security and as to
through artificial as well as through natural agencies. interest rates obtainable, and newer fields were opened
These disturbances in a large measure have been do­ up in the great southern and western sections of the
mestic in character and remotely related to the trans­ country as rapidly as borrowers in those new fields
actions of the world at large. The world at large only were able to convince lenders of their financial trust­
in comparatively small measure has been drawn upon worthiness.
to contribute to our recoveries. The troubles in the
“This process continued in normal fashion during
main have been internal and the application of home that score of years and witnessed the farm mortgage
remedies eventually effected a restoration to normal as an investment security becoming increasingly pop­
conditions.
ular, not only among life insurance companies, but
“The problems that farm mortgage bankers will be among trust companies and savings banks as well as
obliged to meet in the near future involve not only among institutional and private investors. At the
these resulting from disturbed economic conditions same time mortgages of standard quality were con-

n

5% FUNDS FOR FARM LOANS 5%

Bankers desiring permanent connections for placing farm loans w ill find it advantageous
to w rite us. Representatives desired in m any sections of Iowa.
A sk for full information giving us details of w hat you have to offer.

A m e r ic a n M o r tg a g e & S e c u r itie s C o m p a n y
Manchester, Iowa
C apital $200,000

L

J. H. T R E W IN , V ice-P resident
J. F. G R A H A M , V ice-P resident


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

A. M. CL O U D , P resid en t
F. C. W A P L E S , S ecretary
H. E. H E N D E R S O N , T re a s u re r

J

August, 1916_______

THE

NORTHWESTERN

29

BANKER

T H E O L D E S T T R U S T C O M PA N Y W E S T O F T H E M ISSISSIPPI R IV E R

5% F A R M

LOANS

5%

A S &banker, you are desirous of securing permanent connections, for tbe placing of farm loans and w e are sure tbat you w ill find it
greatly to y o u r advantage to get in toucb w itb us* W e Have large sums of m oney to loan on Iowa, ^iinnesota and South Dakota
farms at the lowest rates and are desirous of securing regular connections, that w ill afford a steady volum e of good loans.
A sk us for terms and full information and give us the complete details of w hat you have to offer.

IOWA LOAN & TRUST COMPANY
DES MOINES, IOW A
CAPITAL, SURPLUS AND PROFITS OYER $1,000,000.00
G. B. H IP PE E , P resident
E D W IN H U L T , S ecretary
SIM O N CA SA D Y , T re a s u re r

D. H. M cKEE, V ice-P resident
D. F. W IT T E R , V ice-P resident

stantly being produced in quantities somewhat in ex­ prevailing prior to the disastrous smash-up in certain
cess of the maximum demands of investors. Such con­ territory in the early nineties, with its resultant trail
ditions guaranteed to the farm mortgage banker a rea­ of foreclosures and bankruptcy. What are some of
sonable return for his service—a service marked by the possible results of a condition of affairs such as
its tendency towards a conservatism, safeguarding the now confronts us?
interests of both borrower and investor.
“First. A tendency toward the organization of con­
“Nearly two years have elapsed since the outbreak cerns, inexperienced in farm mortgage banking, which
of the war, and the farm mortgage banking problems are likely to produce and offer for sale mortgages that
thus engendered have imposed themselves upon the are not only inferior, but fundamentally unsafe and
everyday experience of all farm mortgage houses. A unsound.
general readjustment has been made necessary and
“Second. A tendency to encourage some of the
each individual banker, borrower and investor, in existing farm mortgage houses to become less con­
varying degrees, has been obliged to order his affairs servative in their practices and likewise produce and
in consonance with the times. Conditions have been offer for sale an inferior grade of mortgages which in
and are abnormal; they are pregnant with the possi­ normal times would not be considered for a moment.
bilities of disaster.
“The effect of such a procedure in either case would
“Farm mortgage bankers today are confronted with be the reaping of a harvest of foreclosures, resulting
the proposition of being unable to supply the demands in shattering the confidence of a class of investors that
of their investors. An abundant supply of idle capital has been educated to farm mortgage investments
is awaiting investment in farm mortgage securities through high-class farm mortgage bankers based on
and the farm mortgage banker’s hands are tied because long years of conscientious, square dealing.
of his inability to produce in sufficient quantity the
“The most valuable asset to any farm mortgage
high-grade mortgages that he has been accustomed to
house is a satisfied customer. He is satisfied because
produce in normal times.
“For various economic reasons investors are seek­ of his belief in the business ability, integrity and hon­
ing farm mortgages more eagerly than they ordinarily esty of his farm mortgage banker, and of his appreci­
have done, and at the same time high-grade farmers, ation of the year-in and year-out service that the bank­
as a whole, are not borrowing as freely as they do nor­ er is in position to and does render him. To ignore
mally. We are experiencing a shortage in the supply or to depart from policies upon which such a customer
has been secured would be suicide to the direct offendof mortgages of standard quality.
“In some respects the situation is similar to that
(Continued on page 30.)

E n tirely N ew
The

FLEXI-POST LOOSE LEAF LEDGERS
AND BINDERS
^UNLIM ITED C A P A C ITY , will
sheets from one up.

hold any number of

flPOSTS N E V ER S T IC K THROUGH TOP CO V ER , they
slide into the cover and are always out of sight.
^[TWO-INCH EXPANSION A LW A Y S A V A IL A B L E for removing or inserting sheets.
flThe only sectional post binder binding sheets with direct screw compression.
flSend for catalogue or have us demonstrate them to you.

KOCH

PRINTERS

—

BROTHERS,

319-321 LOCUST ST.


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Federal Reserve Bank of St. Louis

STATIONERS

—

Inc.

BINDERS

DES MOINES, IOWA

30

THE

NORTHWESTERN

BANKER

August, 1916

For Bankers and T heir W ants
This department of T H E N O R TH W ESTER N B A N K ER is
to assist S U B S C R IB E R S in obtaining goods or service hard
to find. It is free. Use it. A SK US, as we can tell 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. In answering classified
advertisements which have key numbers please enclose a
two-cent stamp. This is used to forward your letter.

HOW THIS DEPARTMENT GIVES YOU REAL
SERVICE.
This is a regular department of THE NORTH­
WESTERN 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 TELL 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.
We 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.
YOUNG MAN now employed desires connection
with a city bank in credit department. Has had
three years’ experience in country bank and for the
past four years has held responsible position with a

leading mercantile agency. Can furnish references as
to ability and character. WHte 2003, Northwestern
Banker.—8.
WANTED—Control of $20,000 to $30,000 bank of
good location in Iowa or Northwest. Address 2004.
Northwestern Banker.—8.
WANTED—Position in country bank by young
man, 30 years old, good habits, good appearance, and
affiliated with Methodist Church. Has had 10 years’
experience managing clothing store and is a good
judge of credits. Would be willing to start with small
salary if opportunity for advancement is good. Is a
high school graduate, took a business course and
writes a good hand. Address 2005, Northwestern
Banker.—8.
BANKERS—I have buyers for your controlling in­
terest in your bank. If you are in the market to buy a
controlling interest in a bank, I have it or can get it
for you. JACOB BACKER, Investment Broker, 306
St. Paul Arcade.—8tf.
WANTED—Control of $10,000 to $25,000 bank in
territory covered by The Northwestern Banker. All
correspondence strictly confidential. Address 2006,
Northwestern Banker.—8.
POSITION WANTED—Young man with three
years’ experience country banking, wants position as
bookkeeper and typist or assistant at once. Honest,
Rapid, and Accurate. Address Box 283, Bode, Iowa.
FARM MORTGAGE DEPARTMENT.
(Continued from page 29.)
er and tend to reflect discredit upon the farm mort­
gage banking fraternity in general.
“Farm mortgage bankers necessarily are engaged in

GEORGE S. PARKER, President
F. L. EATON, Vice-President

C. D. VA N DYKE, Cashier

A. W. SMITH, Asst. Cashier

L IV E STOCK N A T IO N A L BANK
C apital
$100,000.00

S ioux C ity , Io w a
LO C A TED A T T H E STO CK YARDS

S urplus
$100,000.00

D eposits $2,500,000.00
The GREAT NORTHW EST being the feeding ground of the Live Stock Industry,
by virtue of our location at the MARKET PLACE of this territory, w e can offer
unsurpassed RESERVE facilities for Country Bankers.


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Federal Reserve Bank of St. Louis

August, 1916

THE

NORTHWESTERN

the business for profit, and competition is keen, but
unless profits can come legitimately—unless they ac­
crue through the producing and selling of mortgages
at least of standard quality—it is better temporarily
to do less business and be satisfied until present con­
ditions have been corrected.
“The Farm Mortgage Bankers Association of Amer­
ica was not organized by accident. The men who got
together and formed the association were sincere, seri­
ous-minded men who recognized the importance of co­
operating to preserve the integrity of the farm mort­
gage business and of promulgating certain principles
and purposes which would command and deserve the
confidence of the investing public.
“This bulletin goes out as a warning to its members
that unethical competition is likely to spring up that
will ignore the’ honorable practices of reputable farm
mortgage houses 5 competition that will be likely to en­
gage in wild-cat mortgage banking for the temporary
profits that present conditions invite and thus tend to
demoralize the whole fabric of farm mortgage bank­
ing in the eyes of the public?
“We will further the purposes of our association and
the best interests of the business if we co-operate to
the utmost to discourage practices that tend to under­
mine a $3,500,000,000 farm morgage business that has
been built up on observance of the simple rules of con­
servative business practices.”
USE OF TRACTORS SCARCELY BEGUN.
The farm tractor, though a l r e a d y developed to an
efficient, practicable stage, is still in its infancy in act­
ual use. But it is going to cut a great figure in Amer­
ican farming. The use of horses for plowing will be­
come less and less. Plowing can be done much more
quickly with modern machinery.
.
In France they are farther advanced along such
lines than we are in the United States. The French
government pays a subsidy for the use of gasoline
power on farms, small as they are, probably on the
theory that there is a shortage of horses and the en­
couragement of other power is necessary. In the
United States gasoline is a luxury today, but Amer­
ican-made tractors meet this condition by using kero­
sene instead.
The advent of the tractor is certain to have an im­
portant effect upon methods of farming. Instead of
devoting a week to plowing a field with horses, the
plowing can now be done in a day or two with ma­
chinery.
H O TUTTLE BUYS INTEREST IN BANK OF
MATLOCK, IOWA.
H. O. Tuttle, assistant cashier of the Farmers Sav­
ings Bank of Boyden, Iowa, has bought Harry Z.
Logan’s interest in the Bank of Matlock, Matlock,
Iowa, and has taken charge of the bank. There will
be no other change in the officers of the bank and F. E.
Frisbee will remain as president, F. W. Bloxham as
vice-president, and Mr. Tuttle becomes the cashier.
Mr. Logan expects to go to South Milwaukee to
start a second bank, a charter for which has already
been granted by the state banking department.
Organized originally as a branch of the State Bank
of Iowa, the First National Bank, Council Bluffs, Iowa,
has just passed the fiftieth anniversary of its conver­
sion from a state bank to a national banking institu­
tion.

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

31

BANKER

•*Identified with Chicago's Progress Since 1857"

The character of this bank is reflected in the
personnel of its board of directors
FRANK H. ARMSTRONG, President Reid, Murdoch & Company
CLARENCE A. BURLEY, Attorney and Capitalist
HENRY P. CROWELL, President Quaker Oats Company
MARVIN HUGHITT, Chairman Chicago & Northwestern Ry. Co.
EDMUND D. HULBERT, President
CHAUNCEY KEEP, Trustee Marshall Field Estate
CYRUS H. McCORMICK, President International Harvester Company
SEYMOUR MORRIS, Trustee L. Z. Leiter Estate
JOHN S. RUNNELLS, President Pullman Company
EDWARD L. RYERSON, Chairman Joseph T. Ityerson A Son
JOHN G. SHEDD, President Marshall Field & Company
ORSON SMITH, Chairman
ALBERT A. SPRAGUE II., President Sprague, Warner & Company
MOSES J. WENTWORTH, Capitalist

.DEPARTMENTS

C O M M E R C IA L ¿ fe jS A V IN C S — T R U S T — B O N D
— F A R M L O A N — F O R E IG N E X C H A N G E —

C apital an d Su rplu s

—

$ 1 0 ,0 0 0 ,0 0 0

MR. BANKER—
A new form of Policy. Double insurance at reduced
cost.
The new form of W estern Life Policy covers Acci­
dental Death in a new way. This Policy provides for a
guaranteed reduction of the premium on the 20-Pay-Life
plan.
The success of Western Life Agents is gained by the
favorable policies they have to offer.
We desire to co-operate with Iowa banks and have
something to offer to your advantage. We have a spe­
cial proposition for Iowa Bankers in which you will be
interested.
JAS. H. JAMISON

A. D. STRUTHERS

President

Sec’y & Treas.

T he

Iow a G om pany
I o w a P e o p le

F or

32

THE

NORTHWESTERN

BANKER

August, 1916

THE C ITY NATIONAL BANK
OF CLINTON, IOWA

C apital, S u rp lu s an d P rofits . . $ 300,000.00
D e p o s i t s .......................................
$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. Correspondence invited.
titiimiiiiiiiiiiiiiifiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiitiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiM

I O W

A

iiiiiiiiiitimiiiiMiiiitiiiiimitiiiiiiiiiimmiiiiiiiiiiiiimiiiimiiiiiiiMiiiiiiiiiiiiiiiiimimiiHiiiimiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiimiiiiin

ren, J. O. Baldwin, C. S. Shaffer, Grant Thomas, Wm.
Bray, I. W. Forrest and W. E. Aubry.
The directors have elected the officers as follows:
Wm. Bray, president; Grant Thomas, vice-president
and N. A. Stump, cashier.
The articles of incorporation have been received
from the Auditor of State.

THE FIRST NATIONAL AND CITIZENS STATE
BANKS, CAMBRIDGE, IOWA, CON­
SOLIDATED.
GERMAN BANK, WALNUT, IOWA, HOLDS
The First National and the Citizens State Banks of
OPENING IN ITS NEW BUILDING.
Cambridge, Iowa, have planned a consolidation and th ;
The formal opening of the German Bank, Walnut,
capital of both institutions will be taken over by The Iowa, in its new building was attended recently by
First National, which will necessitate an increase of over 1,000 people, guests of the bank officials. The
the capital stock from $50,000 to $80,000. The addi­ bank was established in 1892, and is owned by J. F.
tional $30,000 will be reserved for the stockholders of and Otto Ronna.
the Citizens State Bank.
The new structure is two stories high, brick and
F. W. Larson, formerly president of the Citizens stucco exterior. The bank room is finished in ma­
State Bank will be the president of the combined banks, hogany, with fixtures of Italian marble. The new
H. A. Early will remain cashier and W. H. Heggen, building would do credit to a town much larger than
formerly cashier of the Citizens State will be vice- Walnut.
president of the re-organized First National.
The board of directors will be increased so as to in­
GERMAN STATE BANK, DYERSVILLE,
clude the directors of the Citizens State Bank.
IOWA, INCREASES CAPITAL
STOCK TO $50,000.
NEW FARMERS AND MERCHANTS SAVINGS
The German State Bank of Dyersville, Iowa, has
BANK, ELDON, IOWA, ELECTS
increased its capital from $25,000 to $50,000, the ad­
OFFICERS.
ditional stock to be taken over by the present stock­
The Farmers and Merchants Savings Bank of Eldon, holders.
Iowa, has elected its directors as follows: G. W. W ar­
The bank has enjoyed a steady growth and is in

OFFICERS
CH A S. SH U LER,
P resid en t

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

W . H. GEHRM ANN,
V ice-P resident
F R A N K B. Y E T T E R ,
C ashier
L O U IS G. B E IN ,
A ssistant C ashier


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

W e invite the business
of banks, bankers and
m e r c h a n ts f d e s i r i n g
prompt, efficient and
satisfactory service.
|

THE

August, 1916

NORTHWESTERN

33

BANKER

ERCHANT5 NATIONAL BAN
CEDAR R A P I D I O W A .
S T A T E M E N T OP CONDITION
M ARCH 7, 1916
U N IT E D S T A T E S D E P O S IT A R Y
Liabilities.

Resources.

L o a n s a n d D i s c o u n t s ............$4,952,654.29
O v e r d r a f t s ................ «.................
293.22
U. S. B o n d s a n d O th e r B o n d s
468,633.48
R eal E s ta te (fo r b a n k p re m ­
is e s ) ...........................................
212,500.00
F u rn itu re an d F ix tu r e s ....'
NONE
C a s h o n H a n d , D u e f ro m
B a n k s a n d U. S. T r e a s u r e r 3,638,817.27

C a p it a l S to c k ............................$ 300,000.00
S u r p l u s a n d U n d iv id e d P r o f ­
i t s ...............
474,561.56
C ir c u l a t i o n .................................
200,000.00
D e p o s its ....................................... 8,298,336.70
$9,272,898.26

$9,272,898.26

O F F IC E R S

J o h n T . H a m ilto n , P r e s i d e n t .
P . C. F r i c k , V ic e - P r e s id e n t.
H . N. B o y s o n , A s s i s t a n t C a s h ie r .
J a m e s E . H a m ilto n , V ic e - P r e s id e n t.
R o y C. F o ls o m , A s s i s t a n t C a s h ie r .
E d w in H . F u r r o w , C a s h ie r .
M a r k J . M y e rs , A s s i s t a n t C a s h ie r .

FARMERS SAVINGS BANK, LYTTON, IOWA,
TO ERECT NEW BUILDING.
The Farmers Savings Bank of Lytton, Iowa, are
planning to erect a new banking home which will be
of brick construction throughout and will be faced with
a light buff pressed brick. The base and coping, and
J. T. CLASEN AND JOHN BEEBEE SELL THEIR window coping will be of a buff colored Bedford stone.
The lobby will have a wainscoting of marble and the
INTEREST IN THE FARMERS SAVINGS
vestibule will be entirely lined with marble.
BANK OF IRWIN, IOWA.
The first floor of the building will be occupied by the
J. T. Clasen and John Beebee, vice-president and
cashier respectively, of the Farmers State Bank of bank and the upper floor will be designed for office
Irwin, Iowa, have sold their controlling interest in that rooms.
The officers of the Farmers Savings Bank are Frank
bank to C. J. Chalstrom, of Greenville. Mr. Chalstrom
Corey, president, John L. Hamilton and F. A. Ayers,
has been elected cashier.
The Farmers Savings Bank has made a splendid vice-presidents, and G. B. Willholte, cashier.
growth under the management of Messrs. Clasen and
Beebee, as the deposits have more than doubled during C. R. WICK BECOMES CASHIER OF FIRST NA­
TIONAL BANK, COLFAX, IOWA.
the past year.
C. R. Wick, formerly of Collins, has taken up his
duties as cashier of the First National Bank of Colfax,
N. A. INGLIS ELECTED PRESIDENT OF
Iowa, succeeding W. V. Escher. Mr. Wick, together
FRANKLIN COUNTY STATE
with Kimberly Brothers, Homer Miller, president of
BANK, HAMPTON, IOWA.
At the annual meeting of the stockholders of the the Iowa National, Des Moines, and H. T. Blackburn,
Franklin County State Bank, Hampton, Iowa, N. A. cashier of the same institution, have purchased a con­
Inglis was advanced from the cashier to the president; trolling interest in the First National.
The officers of the bank are: F. E. Boyd, president;
J. C. Powers is vice-president and F. H. Ridgeway,
formerly assistant cashier was elected cashier, with F. M. Gagle, vice-president; C. R. Wick, cashier, and
R. E. Cummings, assistant cashier.
Lavina Jones and D. S. Wolf as assistant cashiers.
The First National has deposits of more than $200,All former directors were re-elected and the usual
000 and a capital of $50,000.
semi-annual dividend was declared.
excellent condition. The last statement shows the
institution with assets of $912,000.
The officers are: D. A. Gehrig, president; Frank
Stieber. vice-president ; Henry F. Kremer, cashier, and
H. A. Gehrig, assistant cashier.

“THE BANK OF STABILITY AND PROGRESS”
Firmly maintaining the principles and practices of safe banking, The Black Hawk National Bank
has consistently grown in strength and efficiency as well as in years.
Adequate facilities and perfected service make this an ideal reserve bank for Iowa banks. Every
courtesy and accommodation extended consistent with conservative banking. Inquiries solicited and appreciated.

BLACK HAWK NATIONAL BANK
W ATERLOO,
O FFICERS
DR. F . W. POWERS, P re sid en t
A. E. GLENNY, Vice-President
JAM ES LOONAN, Vice-President
CHARLES W. KNOOP, C ashier
H. E. RUG G, A sst. C ashier


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

IO W A

Capital
$ 200 ,000.00

II
11

ñ

34

THE

NORTHWESTERN

BANKER

August, 1916

I

THE CENTRAL STATE BANK
DES MOINES, IOWA

Capital $250,000.00 Surplus and Proiits $250,000.00
OFFICERS
SIMON CASADY, President
GRANT M cPH ERR IN , Vice-President
JOHN B. McDOUGAL, Cashier
HUGH B. HEDGE, Vice President
FRANK C. ASH, Ass’t Cashier

REMEMBER OUR FOUR CARDINAL PRINCIPLES
Absolute Safety.
Courteous Treatment to All.
Consistent Liberality.
Promptness in Execution.
i

FARMERS STATE BANK, VAIL, IOWA, IN­
CREASES CAPITAL STOCK TO $50,000.
The Farmers State Bank of Vail, Iowa, has strength­
ened its institution by increasing the capital stock
from $25,000 to $50,000. The articles of incorporation
were amended so as to permit the bank to act in a
trust or fiduciary capacity. Provision was also made
for seven directors should it be thought necessary to
have that number, and for an additional vice-president.
John Dieter is president; Leonard Dieter was elected
cashier to fill the vacancy caused by the death of M. L.
Houlihan, Jr.; C. M. Dugan and George Walsh are
vice-presidents and Grace O’Connor is assistant
cahsier.
FIRST STATE BANK OF STRATFORD, IOWA,
MAKES PHENOMINAL GROWTH IN
DEPOSITS.
The First State Bank of Stratford, Iowa, held their

JOHNSON COUNTY SAVINGS BANK
IOWA CITY, IOWA
C a p i t a l ........................................................$125,000.00
S u rp lu s a n d P r o f i t s ...............................
117,000.00
Special facilities for handling collections or any other
business entrusted to us.
To k n o w u s b e tt e r “ B e O u r C u s to m e r "

semi-annual meeting recently at which time Edward
W. Radeke was elected president, Allen P. Robinson,
vice-president, Otis H. H. Christian, cashier, and
Robert J. Weidenbach assistant cashier.
The bank has a capital of $10,000, surplus $10,000,
and at the close of business July 10th, showed deposits
of $199,366.87 and loans and discounts of $175,750.79.
The directors of the First State Bank are: Lynn A.
Pickering, William Werth, Otis H. Christian, Allen P.
Robinson, Frank B. Gannon, and Edward W. Radeke.
THE CITIZENS STATE BANK, ANTHON, IA.,
RAISES SURPLUS FUND TO $20,000.
At the annual meeting of the stockholders of the
Citizens State Bank of Anthon, Iowa, the same officers
were re-elected as follows: F. M. Cooney, president;
Chas. Schrepfer, vice-president; T. B. O’Donnell, cash­
ier; Ng H. Nielson and V. H. Connole, assistant cash­
iers.
The directors after voting a semi-annual dividend
raised the surpus fund to $20,000.
According to the last statement of the Citizens State
Bank of June 30th, the capital is $50,000; deposits,
$280,456.94.
JOHN HEITSHUSEN ELECTED CASHIER OF
CONROY SAVINGS BANK, CONROY, IOWA.
John Heitshusen has been elected cashier of the
Conroy Savings Bank, of Conroy, Iowa, to succeed

PEOPLES TRUST & SAVINGS BANK
E s ta b lis h e d 1893

CLINTON, IOWA
CAPITAL, $300,000.00

SURPLUS, ALL EARNED, $300,000.00

DEPOSITS, $3,800,000.00

Offers the facilities and services of a live, up-to-date banking house, fully equipped and
amply capitalized to handle intelligently and efficiently every branch of legitimate banking.

COMMERCIAL — SAVINGS — SAFE DEPOSIT

TRUST

Accounts from banks in its territory, and collections receive the special
attention of an officer of the bank
W . W . COOK
J . H. ING W ERSEN
C. F. ALDEN
P r e sid e n t
C ash ier
V ice P r e sid e n t
J . L. BOHNSON, C. S. HARRIS an d W . S. GARDNER
A ssista n t C a sh iers


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Federal Reserve Bank of St. Louis

August, 1916

THE

NORTHWESTERN

BANKER

35

Davenport Savings Bank
DAVENPORT, IOWA

OFFICERS
JOHN F. DOW, President
AUG. E. STEFFEN, Vice-President
OTTO HILL, Cashier
S. BLACKMAN. Ass t Cashier

Capital
Undivided Profits
Deposits

$ 300,000.00
472,000.00
4,500,000.00

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

4

D IRECTORS

J. H. RUHL
J. H. SCHAEFER
A. E. STEFFEN
THEO. KRABBENHOEFT
J. F. DOW
W. H. GEHRMANN
W. H. WILSON
OTTO HILL
JNO. W. GILCHRIST
H. E. Oldaker, resigned. Mr. Heitshusen has been
bookkeeper for several years and will make a very
efficient cashier.
S. H. Stanerson is president of the bank and J. H.
Burgy is the vice-president.
LAURENS C. SHULL, OF SIOUX CITY, ELECT­
ED VICE-PRESIDENT OF FARMERS
BANK, WOODWARD, IOWA.
Laurens C. Shull, of Sioux City, commonly known
as “Spike” Shull of the University of Chicago, has
taken the position of vice-president of the Farmers
Bank of Woodward, Iowa, which is owned by the
Brenton Brothers. Earl C. Taft, formerly assistant
cashier, has accepted the position of treasurer of the
Black and White Manufacturing Company, of Rock­
well City.
IOWA NEWS AND NOTES.
Mrs. Rebecca Porter, president of the Bank of
Ocheyedan, Iowa, bears the distinction of being the
oldest woman bank president in the United States.
Mrs. Porter is now 7 5 years old. She succeeded her
husband as president of the Bank of Ocheyedan, when
he died in 1912. She still retains a keen interest in
banking and public affairs.

The recent bank clearings for Des Moines, showed
an increase of $185,579 compared with the same date
last year.
The stockholders of the Elkport Savings Bank, Elkport, Iowa, held their annual meeting recently. The
hank is in splendid condition and the old officers were
re-elected.

S E C U R JT Y
NATIONAL BANK
S IO U X C IT Y , IOWA

Capital and Surplus $500,000
W . P. M ANLEY, President T. A. BLACK Vice-President
C. W . BRITTON, Cashier C. G. CUMMINS, Ass’t Cashier

The D es M oines N ational Bank
D es M oines, Io w a

I
I

T h e policy of this bank is to cultivate helpful business relations
w ith its correspondents and to render at all times the service w hich
their needs demand and w hich our equipm ent insures.
An expe­
rience extending over thirty-four years in catering to such needs has
provided a broad understanding of the requirements in this field.
W e cordially invite a share of your business.

Capital an d S u rp lu s $ 900,000
R eso u r ces o v e r
8,000,000
I

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

36

THE

NORTHWESTERN

BANKER

August, 1916

T he Seaboard National Bank
O f th e

City

Surplus and Profits, $2,865,000

of

New York

-

-

-

-

■

Deposits, $45,000,000

S. 6 . BAYNE, President
O. O. TH O M PSO N ,
B. L. GILL,
Vice-President
Vice-President
W. K. CLEV EBLEY , Cashier
L. N , DeVAUSNEY,
J. O. EM O BY ,
O. M . JE F F E B D S ,
Asst. Cashier
Asst. Cashier
Asst. Cashier
8. G. N ELSON.
Vice-President

Accounts of Banks and Bankers from the Middle West Especially Solicited on most Favorable Terms
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A fine new three story bank building will be erected
by the Farmers & Merchants National Bank, Jefferson,
Iowa, this summer. Plans for same are already in
I O W A
preparation by architects Proudfoot, Bird & Rawson,
Des Moines. The new structure will cost from $20,000
to
$25,000.
A fine new bank building will be . erected for the
Farmers Savings Bank, Lytton, Iowa.
The Ute Savings Bank, Ute, Iowa, increased its capi­
The First National Bank of Hartley, Iowa, will put tal stock from $30,000 to $50,000.
up a fine new building during the summer months.
The Citizens State Bank at Goldfield, Iowa, now
E.
B. Zbanek, for three years cashier of the Centraloccupy their fine modern quarters.
State Bank, Cedar Rapids, Iowa, and one of the or­
The Farmers Savings Bank of Dike, Iowa, will re­
ganizers of the institution in 1913, has resigned his model their bank building.
position.
The First National Bank of Boone, Iowa, moved
into their handsome new building recently. There is
F IN D IN G T H E R IG H T M A N E
not a building in the state of Iowa more substantial,
and convenient throughout than the First National
to fill a position requiring training, fidelity, and
Bank building. No expense was spared anywhere and
initiative, is the business man’s problem.
the cost of the home including the grounds is estimated
at approximately $140,000.
A letter to our Business Service Department when
in need of the RIGHT MAN helps solve the prob­
At the semi-annual business meeting of the directors
lem. Hundreds of business men and banks are
of the Holstein Savings Bank, Holstein, Iowa, held
served every year and this service is at your com ­
recently, the usual dividend was declared and in ad­
mand.
dition the sum of $50,000 was added to the surplus
fund.
The First National Bank building at 5th and Main
streets, Dubuque, Iowa, is to be rebuilt and remodeled.
Cedar Rapids, Iowa
Work has been started on the new bank building at
Urbana, Iowa.

Cedar Rapids Business College

The Commercial National Bank
WATERLOO, IOWA

Capital and Surplus, $ 5 0 0 ,0 0 0
OFFICERS
W. W. MILLER, President
F. C. PLATT, Vice-President


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Federal Reserve Bank of St. Louis

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

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

August, 1916

r

THE

NORTHWESTERN

BANKER

37

Fi r s t N a t i o n a l Ba n k
C O U N C IL BLUFFS, IO W A

Assets Over

$ 3 ,0 0 0 ,0 0 0 .0 0

J. P. GREENSHIELDS, President
JOHN J. SPINDLER, Cashier

G.

E. A. WICKHAM, Vice-President
F. SPOONER, Ass't Cashier

More than half a century of successful banking

L

Mr. John Arthur Boeye, assistant cashier of the
A review of Fort Dodge’s growth and with it the
Webster City Savings Bank, Webster City, Iowa, was growth of the First National Bank, formed the pro­
married recently to Miss Juanita Evans Hall.
gram of toasts at the banquet of First National stock­
With pardonable pride, the officers call public at­ holders and employes recently, when they celebrated
tention to the fact that the Security Savings Bank, the fiftieth anniversary of the bank’s organization.
Cedar Rapids, Iowa, received its first deposit on April
26, 1889, and that on its twenty-seventh anniversary,
its statement of conditions shows total resources of
over two and a quarter million dollars.
D ES M O IN ES, IO W A
The stockholders of the Citizens Savings Bank, AnaESTABLISHED 1896
mosa, Iowa, held their regular annual .meeting recently.
Cashier W. F. Hellberg made the annual report, an
addition was carried to the surplus fund and a five per
CAPITAL (Paid in) $50,000.00
cent dividend declared. The bank’s business was never
CAPITAL (Earned) 50,000.00 $ 100,000.00
in better shape than it is now. Dr. Hejinian was re­
SURPLUS and PROFITS (Earned) 190,000.00
elected president; B. E. Rhinehart, vice-president, and
DEPOSITS
over 2,700,000.00
W. F. Hellberg cashier. Mr. Alex Robertson is con­
tinued as assistant cashier.
C. H. MARTIN, President
FRANK P. FLYNN
E. A. SLININGER
All the directors were re-elected at the annual meet­
Vice-President
Cashier
ing of the Farmers State Bank, Shell Rock, Iowa, and
CARL W. MESMER
the directors in turn re-elected all the officers.
Assistant Cashier
The First National Bank of Graettinger, Iowa, will
erect a new building. It will be one story high and of
Accounts of Banks and Bankers Solicited
white brick.

Peoples Savings Bank

IO W A N A T IO N A L B A N K
FLEMING BUILDING, DES MOINES, IOWA
STATEMENT JUNE 30. 1*16
L IA B IL IT I E S .
C a p it a l s t o c k ................................................................$1,000,000.00
S u r p lu s a n d p r o f i t s ....................................................
589,741.44
C i r c u l a t i o n ....................................................................
50,000.00
D iv id e n d s u n p a i d ......................................................
20,510.00
D e p o s its ........................................................................ 8,077,871.64
$9,738,123.08
RESO U RCES.
L o a n s ................................................................................$7,952,284.30
.U n ited S t a t e s b o n d s .................................................
60,000.00
F e d e r a l R e s e r v e B a n k s t o c k ...............................
39,000.00
F u r n i t u r e a n d f i x tu r e s .............................................
5,000.00
O v e r d r a f t s ........................................................................
6,484.73
C a s h a n d e x c h a n g e .................................................... 1,675,354.05

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

$9,738,123.08

j*
H O M E R A. M IL L E R , P r e e .
R . L . C H A S E , J R . , A a st. C a s h ia r


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Federal Reserve Bank of St. Louis

Officers j*

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

H. T . B L A C K B U R N , C a a h ia r
J A M E S F . H A R T , A a a t. C a a h ia r

THE

38

NORTHWESTERN

BANKER

August, 1916

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I O W A
................................................................................ ..

TA e W orn Trousers.

E li h u R o o t, f o r m e r s e n a t o r f r o m N e w Y o rk ,
s m ile d t h e o t h e r e v e n in g , w h e n r e f e r e n c e a t
a d i n n e r w a s m a d e t o c h u r c h a tte n d a n c e . H e
s a id h e w a s r e m in d e d o f t h e p i e t y o f a c e r t a i n
hobo.
O n e a f t e r n o o n a c a s td o w n h o b o tim id ly
k n o c k e d on th e d o o r o f a s u b u rb a n hom e, an d
w h e n th e o w n e r o f th e h o u se a p p e a re d he
m e e k ly a s k e d f o r b r e a d .
“I s e e ,” r e s p o n d e d t h e p r o p r i e t o r , c r i t ic a l l y
s i z in g u p t h e tr a m p ,, “ t h a t t h e k n e e s o f y o u r
t r o u s e r s a r e b a d ly w o r n .”
“Y es, s i r , ” a n s w e r e d t h e h o b o , in a s u b d u e d
v o ic e .
“ I w o r e t h e m t h r o u g h k n e e l i n g in
p r a y e r .”
A fe w m in u te s la te r th e tr a m p w a s h a n d e d
h is fo d d e r, a n d , w i t h m a n y t h a n k s , h e t u r n e d
a n d s t a r t e d t o w a r d t h e g a te .
“J u s t a m o m e n t,” e x c la im e d t h e p r o p r i e t o r .
“I n o tic e t h a t y o u r t r o u s e r s a r e a ls o p r e t t y
b a d ly w o r n in t h e b a c k .”
“Y es, s i r ,” r e s p o n d e d t h e t r a m p , s t e e r i n g f o r
th e g a te .
“I d id t h a t b a c k s l i d in g .”— P h i l a ­
d e l p h i a T e le g r a p h .

CORNERSTONE IS LAID FOR NEW JASPER
COUNTY SAVINGS BANK, NEWTON,
IOWA.
The cornerstone for the new Jasper County Savings
Bank building, of Newton, Iowa, which is now in the
process of construction, was laid July 4, 1916.
The Jasper County Savings Bank was organized in

Suits and extra trousers $25, $30, $35 and up.

N IC O IX The T ailor
•

Jerrem s’ Sons •
23 Years at 502 Walnut
DES MOINES, IOWA

Scene at the Laying of the Cornerstone of the Jasper County
Savings Bank, Newton, Iowa.

1869, as a private bank, being known as the Jasper
County Bank, which in 1908, was incorporated as a
savings bank. The present officers and directors are:
J. M. Woodrow, president; F. M. Woodrow, vice-

THIS IS 1,000ISLANDS MONTH FOR
200 HAPPY BANKERS LIFE MEN
B A N K E R S LIFE COMPANY, DES MOINES, IOWA

C. H. EIGHMEY, President
C. J. COLLIER, Vice-President

B. F. BLOCKLINGER, Vice-Pres.
H. A. KOESTER, Asst. Cashier

Capital, - - - - $200,000
Surplus & Profits, $180,C00

First National Bank
DUBUQUE, IOWA

*■ Accounts of Bankers Solicited.


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Federal Reserve Bank of St. Louis

W rite Us for Terms

New Building of Jasper County Savings Bank, Newton, Iowa,
as it W ill Appear When Completed.

president; A. E. Hindorff, cashier; M. H. Woodrow,
assistant cashier, and J. R. Woodrow, director.
According to the last statement of June 30, 1916, the
bank has a capital stock of $100,000; surplus of $50,000, undivided profits, $13,322.33, and deposits $876,051.69, making total liabilities of $1,039,374.02.

THE

August, 1916

NORTHWESTERN

39

BANKER

TH E GERMAN SAVINGS BANK
O F D A V E N P O R T , IOWA
W ith ad e q u a te eq u ip m en t a n d exceptional
facilities fo r h an d lin g b u sin ess in e v e ry d e p a rt­
m e n t of b a n k in g The G erm an S avings B ank is
In a positio n to give its p a tro n s th e b e s t serv ic e.
If you co n tem p late m a k in g a ch a n g e in y o u r
b a n k in g connectio ns, o r th in k of open in g a n ew
ac co u n t, w e w o u ld be p le ased to c o n fer w ith
you in p e rs o n o r by le tte r.

Capital Stock
Surplus
- - Undivided Profits Deposits Over

$ 600,000.00
500,000.00
338,000.00
11,000,000.00

Commercial Accounts

Savings Deposits

O F FIC E R S
C H A S. N . VOSS, P res.
H. O. S E IF F E R T , V ice-Pres.
E D . K A U F M A N N , C ashier

O FFIC ER S
F. C. K R O E G E R , A ss’t C ashier
O T T O R IE C H E , A ss’t C ashier

It is probable that a third bank is to be started soon
The Jasper County Savings Bank, which is the
largest in the county, has always enjoyed a very sub­ at Merrill, Iowa.
stantial business and has never passed a dividend or
been affected in any way by losses.
The new building is being erected by Hoggson
Brothers of New York, and the officers of the bank are
very well pleased with the service which Hoggson
Brothers are giving them.

C. A. M A S T

Certified Public A ccountant

The Orange City National Bank, Orange City, Iowa,
was organized recently. The president of the new con­
cern is John L. Smith and the cashier, R. P. Dethmers.
They expect to begin as soon as possible the erection
of a new bank building.

DAVENPORT, IOW A
Commercial, County, City
and B a n k Examinations

L ocated in th e grain and live sto c k c e n te r of Iow a, h a v in g u n ex celled d irec t
c o n n e c tio n s in th e state

TH E CEDAR RAPIDS NATIONAL BANK
is qualified to offer c o m p lete service fo r th e h a n d lin g of Io w a business

The Cedar Rapids National Bank
Cedar Rapids, Iowa
Capital $500,000.09

Surplus and Profits $250,000.00
39 YEARS
Of C on tin u ou s, C o n se r v a tiv e a n d S u c c e s s fu l B a n k in g
OFFICERS

R A L P H VAN V E C H T E N , P re s id e n t
K E N T C. F E R M A N , C a s h ie r
G E O . B. D O U G L A S, V i c e - P r e s i d e n t
H O M E R P IT N E R , A s s t. C a s h ie r
E D H . S M IT H , V i c e - P r e s i d e n t
M A R T IN N E W C O M E R , A s s t. C a s h ie r
G L E N N M. A V E R IL L , V i c e - P r e s i d e n t
A N N A R . SM O U SE , A u d ito r
C H A S. C. K U N IN G , C h ie f C le r k


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Federal Reserve Bank of St. Louis

40

THE

NORTHWESTERN

M INNESO TA

|
|
II1
1111111111111111111111111111111111111111111111111111111111111111111111111II11111111111111111111111•1111M111111111111•111111111111111111111111111111111111M11111lT

ST. PAUL BANK CLEARING GAIN $75,000,000
OVER 1915.
Bank clearings for the first half of the year in St.
Paul aggregated $373,663,927.27, a gain of $75,436,454.90 over the same six months of 1915.
Last year was the record year in bank clearings, and
a total of $661,915,332.53 was made. The high record
of 1915 will be beaten by $150,000,000 to $200,000,000
this year.
Bankers say the big bank clearings are due to the
widespread prosperity and to the large increase in
business of all merchants, wholesalers and manufac­
turers in St. Paul.
FRANK S. WILLIAMS, PRESIDENT OF CEN­
TRAL STATE BANK, MINNEAPOLIS, DIES.
Frank S. Williams, president of the Central State
Bank of Minneapolis, died recently at his home of
heart trouble. He had been identified with banking
interests in Minneapolis and North Dakota for fifteen
years.
Born in Erie, Pa., Mr. Williams lived in the East
until 1900, when he came to North Dakota, thence to
Minneapolis.
EDWARD ZAPP ELECTED PRESIDENT OF
THE ZAPP STATE BANK, ST. CLOUD, MINN.
Edward Zapp, for many years cashier of the Zapp
State Bank, St. Cloud, Minnesota, but who has been
the virtual head of the institution during the latter
days of his father, John Zapp, has been elected presi­
dent of that bank. The other officers are: Theo.
Bruener, vice-president; George J. Meinz, cashier;
Edward Murphy, assistant cashier, and Albert A.
Boerger, bookkeeper.
The regular semi-annual dividend of 6 per cent was
declared and a good sum was placed in the undivided
profits account. The reports show one of the most
prosperous years the bank has ever enjoyed, all records
being broken.
FIRST NATIONAL BANK, ST. CLOUD, MINN.,
TO ENLARGE ITS BUILDING.
The First National Bank of St. Cloud, Minnesota,
has purchased the property adjoining the bank building


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Federal Reserve Bank of St. Louis

BANKER

August, 1916

on the west. This will be reconstructed so as to con­
form in appearance to the First National’s building, in­
cluding the addition of a third story.
The entrance will be changed so as to do away with
the present outside steps, making it direct from the
sidewalk—new vaults will be constructed, including a
large safety deposit vault with rooms for the con­
venience of customers using the boxes. The interior
will be largely remodeled, double their present size and
modern in every respect.
This is one of the many evidences of growth shown
by the bank since it came under the management of
Ralph O. Olson as president.
NORTHWEST CORN SHOW TO BE HELD AT
ST. PAUL, DECEMBER 11TH-16TH.
The second annual “First National” Corn Show will
be held in St,. Paul, Minnesota, on December 11th to
16th.
The Corn Show territory will remain the same as
last year, and includes the following states, divided
into districts as shown: Minnesota, six districts;
northwestern Wisconsin, two; North Dakota, six;
South Dakota, six; Montana, six; Washington, three;
Idaho, three; Oregon, two.
“Corn and Cattle Contribute Capital for Bigger Bank
Balances” is the slogan that has been adopted by the
First National and the Northwest Trust Company and
bankers of the Northwest in the promotion of their
Corn Shows.
Increased interest in corn production means the ulti­
mate raising and maintenance of more live stock and
diversification in farming methods, to the financial
advantage and prosperity of the entire Northwest.
MINERS NATIONAL BANK, EVELETH, MINN.,
ASSISTS FARMERS TO BUY BLOODED STOCK.
Chas. B. Hoel, cashier of the Miners National Bank,
Eveleth, Minnesota, is assisting the farmers of his
vicinity to secure blooded stock.
With the assistance of County Agricultural Agent
H. G. Larsen, of Duluth, Mr. Hoel managed to get a
number of thoroughbreds from the Edgewater stock
farm at Fort Atkinson, Wis., which were distributed
to various farmers.
The bank has purchased the cattle and put them in
the hands of the farmers without caring to realize any
profit whatever, the object being to place them at cost.
If this attempt is successful more will be purchased
later.

THE

August, 1916

NORTHWESTERN

BANKER

41

The First National Bank of St. Paul

Established 1863

Capitai and Surplus , Five M illion D ollars
This strong, progressive bank, conducted along con­
servative and modern lines, offers every facility
consistent with sound, prudent banking for the sat­
isfactory handling of your Northwestern business.

R esources F ifty-S even M illion D ollars
H. F. WHITTLE ELECTED CASHIER OF THE arm chairs, ten leather rockers, one leather settee, and
WINONA NATIONAL BANK, WINONA, MINN. a leather couch, all fumed oak and brown leather to
H.
F. Whittle, formerly secretary-manager of the match, with four fumed oak tables, have been installed.
This is a move upon which the Polk County State
Association of Commerce, has been elected cashier of
the Winona National Bank, of Winona, Minnesota, Bank should be congratulated and shows the enterprise
and thoughtfulness of the officers of the institution.
which has been recently organized.
The general experience and broad understanding of
business principles by Mr. Whittle and the needs and DULUTH’S NATIONAL BANK DEPOSITS
SHOW GAIN OF OVER MILLION DOL­
the knowledge and power of handling men and dealing
LARS SINCE JANUARY 1ST.
with the live issues of everyday affairs are recognized
Duluth’s
four national banks have deposits amount­
by the officers of the Winona National Bank as of great
ing to $31,540,085.30, according to the last call of June
value.
30th, showing an increase of $1,028,797.49 since Janu­
POLK COUNTY STATE BANK, CROOKSTON, ary 1st of this year.
Owing to the many large accommodations having
MINN., OPENS FARMERS’ REST ROOM.
C. E. Kiewel, president of the Polk County State been paid off at the end of June, the loans and dis­
Bank, of Crookston, Minnesota, has had the basement counts figures show a decrease of $1,409,844.81 since
of the bank finished for the use of the farmers and May 1st.
Combined resources of the banks aggregate $39,281,their families as a rest room. The spacious room,
ceiling and walls, has been finished in white and pre­ 593.74, an increase of $910,558.55 since the comptroller’s
sents a most inviting appearance. Twelve big leather call of May.

Continental and Commercial National Bank
O F C H IC A G O

Capital, Surplus and Undivided Profits, $33,000,000
OFFICERS
G e o r g e M. R e y n o ld s ................................... P r e s i d e n t
W illia m T. B r u c k n e r .V i c e - P r e s i d e n t
A r t h u r R e y n o l d s ......... V i c e - P r e s i d e n t
J o h n R . W a s h b u r n . . .V i c e - P r e s i d e n t
R a lp h V a n V e c h t e n . . .V i c e - P r e s i d e n t
N a t h a n i e l R . L o s c h .....................C a s h ie r
A le x . R o b e r t s o n ..........V i c e - P r e s i d e n t
H a r v e y C. V e r n o n . .A s s i s t a n t C a s h ie r
H e r m a n W a ld e c k . . . .V i c e - P r e s i d e n t
G e o r g e B. S m i t h . . .A s s i s t a n t C a s h ie r
J o h n C. C r a f t ................. V i c e - P r e s i d e n t
W ilb e r H a t t e r y . . . .A s s i s t a n t C a s h ie r
J a m e s R . C h a p m a n . . .V i c e - P r e s i d e n t
H . E r s k i n e S m ith . .A s s i s t a n t C a s h ie r

W ils o n W . L a m p e r t A s s i s t a n t C a s h ie r
D a n N o r m a n .............. A s s i s t a n t C a s h ie r
G e o r g e A. J a c k s o n . A s s i s t a n t C a s h ie r
J o h n F . C r a d d o c k .M g r . C r e d i t D e p t.
J o s . M c C u r r a c h . .M g r . F o r e i g n D e p t.
R . G. D a n i e l s o n . .M g r . T r a n s i t D e p t.

A ccou n ts of B anks, B ankers, M an u factu rers, M erch an ts and Individuals In vited

Continental and Commercial Trust and Savings Bank
Capital, Surplus and Undivided Profits, $5,000,000
Trust, Savings and Bond Departments
OFFICERS
G e o r g e M. R e y n o ld s .....................................P r e s i d e n t
J o h n J a y A b b o t t ......... V i c e - P r e s i d e n t
F r a n k H . J o n e s ........................ S e c r e t a r y
H e n r y C. O l c o t t . .,. .M g r. B o n d D e p t.
A r t h u r R e y n o ld s ......... V i c e - P r e s i d e n t
W m . P . K o p f ................. A s s ’t S e c r e t a r y
R o b e rt
,? * L c,° c k ..........
C h a r l e s C. W i l l s o n .....................C a s h ie r
A l b e r t S. M a r t i n .............. A ss t Cashier

The Capital Stock of this bank ($3,000,000) and the Capital Stock of the Hibernian Banking Association ($2,000,000) are
owned by the Stockholders of the Continental and Commercial National Bank of Chicago.


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Federal Reserve Bank of St. Louis

42

THE

NORTHWESTERN

C A PIT A L A N D SU R P L U S

$ 10,000,000.00
DEPO SITS O V E R SIX T Y
M ILLIO N DO LLARS
C orrespondence Invited

|

M INNESO TA

G11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111U111111111111H11111111111111111111111117

The deposits of the First National on June 30, 1916,
were $13,856,378.48; the American Exchange National,
$10,777,997.49; the City National, $4,166,468.26, and
the Northern National, $2,739,242.07. These are the
largest deposits ever on record by the national banks
of Duluth.
GEO. P. DAILY, EAST GRAND FORKS, MINN.,
ELECTED ASSISTANT BANK INSPECTOR
OF MINNESOTA STATE BANKS.
George P. Daily, teller of the First National Bank of
East Grand Forks, Minnesota, has been appointed as­
sistant bank inspector for Minnesota state banks and
has resigned his position with the bank.
Mr. Daily will work in the northern district of the
state, the district in which East Grand Forks is , lo­
cated. He was connected with the First National
Bank for the past five years.
p llllllllllllllllllllllIlH

|
jj
jj

g
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g

MR. BANKER!
Do you want to sell your controlling interest
or any part confidentially? I have buyers for
it and can close the deal immediately.
Do you want to buy an interest in a bank?
I have a good list of banks for sale.
Do you want to organize a bank and need a
partner? I have experienced bankers who will
go in with you.

JACOB BACKER, INVESTMENT BROKER
306 St. P a u l A rca d e

ST. PAUL,
illlllllllllllllllllllllllllllllllH


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Federal Reserve Bank of St. Louis

-

-

MINN.

§
g
jj

g
g
g

BANKER

August, 1916

R. N. Gergen, who has been working in Minot, N. D.,
has accepted a position with the First State Bank of
Ironton, Minn.
The Security State Bank at Owatonna, Minn., has
leased the entire building in which it is now located
and will be rebuilt and modernized for their occupancy.
A massive stone front and antique doorways after the
style o f ' the Andrus building, in Minneapolis, are
among the improvements decided upon.
The Freeborn County State Bank, Albert Lea,
Minn., has completed the installation of some new fix­
tures that will add greatly to the attractiveness and
convenience of its interior.
S. D. Noonan, Edward Noonan, Joseph Noonan and
H. C. Gunderson, men of ample means and business
ability of Madelia, Minn., will open a new bank at that
place. It will probably be known as the Farmers
State Bank.
A new bank has been organized at Truman, Minn.
Work in remodeling of the new building is progress­
ing nicely and it will be ready for occupancy in a very
short time. J. E. Stockmann is president; L. A. Smith,
vice-president; B. J. Dallman, cashier and Tory C.
Olson, assistant cashier.
The First National Bank of Eyota, Minn., with a
capital stock of $25,000 has given notice to its creditors
and noteholders that it will liquidate and close up its
affairs. The institution has been in business for many
years. Present officers are: President, F. H. Russell;
vice-president, C. W. Hughes; cashier, B. L. Johnson.
Julius A. Schmahl, secretary of state, has announced
that he, with James A. Larson and Harvey W. Grim­
mer, executive clerk under the late Governor John A.
Johnson, will organize and incorporate the Farmers
& Mechanics State Bank of Ihlen, Minn. Chester A.
Eklund will be cashier.
Arthur Hill is the new assistant cashier in the First
State Bank of Taopi, Minn.
A new bank has been organized at Cloverton, Minn.,
known as the Cloverton Bank.
Officers and clerks of the Scandinavian-American
Bank, Minneapolis, Minn., wore red carnations re­
cently, in honor of the first anniversary of the bank in
its new location.
The directors of the State Bank of Hartland, Minn.,
held their semi-annual meeting recently. The direc­
tors were very well pleased with the healthy growth of
the institution during the past six months. The net
profits on hand amounted to a trifle over $2,000. A
semi-annual dividend of 5 per cent was declared and
$1,000 added to surplus account.
The officers and directors of the First National Bank
of Winnebago, Minn., are organizing a Mortgage Loan
and Investment Company for the purpose of handling
the farm loan business. The new company will have
capital of $50,000.
George W. Everett, cashier of the First National
Bank, Gilbert, Minn., has resigned. He has accepted
a position as cashier of the Farmers and Merchants
Union Bank of Columbus, Wis. A. B. Hoel was re­
cently elected president of the bank and will move to
Gilbert from Biwabik soon to devote his entire time
to the banking business there.

August, 1916

THE

NORTHWESTERN

BANKER

43

Bankers Trust Company and Savings Bank
Minneapolis, Minnesota
(Now O r g a n iz in g )

Capital $1,000,000
.

-

-

-

Surplus $300,000

HARRY W . PARKER, P r e sid e n t

W E NUMBER OVER 400 BANKERS AMONG OUR STOCKHOLDERS
W e w ill specialize in farm mortgages.

Full information on request.

J. J. Reichert and C. F. Miller, of Long Prairie, and
A. C. Yackel has accepted a position with the First
T. Heid, of Brownville, have about decided to establish
National Bank of Beaver Creek, Minn.
The First National Bank of Parkers Prairie, Minn., a second state bank in the village of Sebeka, Minn.
The First National Bank of Wells, Minn., will build
will erect a new building, which will cost approxi­
an annex to their present quarters.
mately $15,000.
One hundred and twenty-five postal savings deposit­
The Security State Bank of Mahnomen, Minn., held
their annual meeting recently. The old officers of the ors of Minneapolis, who at present have the $500 limit
bank were re-elected and Mr. Edgar Flamant was ad­ deposited, welcomed Washington orders raising the
limit to $1,000 for each depositor.
vanced to the position of assistant cashier.
R.
J. Hoeschen, cashier of the Browerville State Frank Meyer, until recently employed at the First
Bank, Bowersville, Minn., and Miss Bertha Thull, of National Bank of Red Wing, Minn., has accepted a
position in Harlem, Mont., as cashier in a bank.
Freeport, were married recently.
Probably six employes of the Northwestern National
Wm. P. Tearse, seventy-two years, old, lumberman,
banker and manufacturer, was found dead in the hall­ Bank of Minneapolis will enlist in some national guard
way of his home, Winona, Minn., recently. He died organization, according to Captain D. G. Burrill of the
of heart disease while he was returning from a call at defense company recently organized at that institution.
the home of a neighbor.
Another important step has been taken toward the
The report of the condition of the First National development of this county in the reorganization of
Bank of Thief River Falls, Minn., at the close of busi­ the International State Bank, International Falls,
Minn. President Murphy, of Grand Forks, and other
ness recently showed deposits of $502,146.28.
important
stockholders have sold their interests to
The American National Bank, St. Paul, will move
strong
financial
parties in St. Paul and a few local busi­
into its new quarters in the second floor of the Bremer
building, Seventh and Robert streets, about September ness men, who intend to encourage by reasonable loans,
the purchase of blooded, stock for dairy purposes, as
1st.
well as commercial development. The active manage­
A. F. Hall, who has acted as assistant cashier at the ment of the bank will be in charge of Mr. Geo. A.
Merchants State Bank, St. Hilaire, Minn., for a number Snyder, its president, and Mr. N. L. Olson, its cashier,
of years, has severed his connection with that insti­ both of whom are well known throughout the county
tution and has accepted a similar position with the as careful and conservative yet aggressive business
Farmers State Bank at Grygla, Minn.
men.

Great Western Accident Insurance Company
DES MOINES, IOWA
Iow a’s L argest and Strongest H ealth and Accident Company
R E SO U R C E S.

A p p ro v e d s e c u r i t i e s d e p o s ite d w i t h I n s u r a n c e
d e p a r t m e n t ................................
$207,671.31
C a s h o n d e p o s it a n d in
o ffic e ................................
67,561.35
I n t e r e s t a c c r u e d .........................................
7,322.52
P r e m iu m s in c o u r s e o f
c o l l e c t i o n ...................... 25,818.77
H o ld in g 1 a c c o u n t ................................................................
26.12
T o ta l a d m i t t e d a s s e t s

............................................$308,400.07

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 ................................................ $103,163.60
R e s e r v e f o r lo s s e s ............................................................ 25,412.85
R e s e r v e f o r s u n d r i e s ......................................................
9,736.16
S u r p lu s to p o lic y h o ld e r s ( i n c l u d in g c a p i t a l
s to c k $100,000)
170,087.46
T o ta l

................................................................................. $308,400.07

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


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Federal Reserve Bank of St. Louis

THE

44

NORTHWESTERN

BANKER

Capital and Surplus

August, 1916

For 25 years w e have
satisfactorily s e r v e d
our c o r r e s p o n d e n t

$300,000.00
JO H N F. C O A D , JR .. President
W IL L IA M J. C O A D . V ice-P rest.
H. C. N IC H O L S O N , Cashier
CH A S. F. SC H A A B . Asst. Cashier

banks.

THE PACKERS NATIONAL BANK
H H iiliiiiiiiiiiiiiiiiiu ii m ill ill ■ i iiiii iiii iiiiiiiiiiiiiiiiiiiiiiiiiiiiiii ii iii iiiiiiiiiiiiiiiiiiiiiiiiiiiiiH ! iiiiiii m i i i iii ii ili u m iiiiiiiiiiiiiiiiin iiiii

N E B R A SK A
Im iiiiiiiiiiim m im iiiiiiiiiH iM im iiiim m iii im m i i i m m i i i i i ii m m m i i i i ii i i m i i i i ii m m i m m m i i im i im i ii i m ii i i i m i i m i m i i i ii i i r ?

SCHUYLER NATIONAL BANK CHANGES TO
SCHUYLER STATE BANK, SCHUYLER,
NEBRASKA.
The Schuyler National Bank, of Schuyler, Nebraska,
has been changed to The Schuyler State Bank.
The capital has been reduced from $50,000 to $35,000 and the officers are as follows: H. C. Wright,
president; John Prokes, vice-president and R. O.
Brownell, cashier.

. . . . . .

St°OMAlIAdS

a correspondent of the Chemical National Bank of
New York City, which is quite a remarkable record.
The other officers of the Omaha National Bank are:
W. H. Bucholz and Ward M. Burgess, vice-presidents ;
J. DeF. Richards, cashier; Frank Boyd, B. A. Wilcox,
Ezra Millard, and. O. T. Alvison, assistant cashiers.
L. L. BRANDT SELLS HIS INTEREST IN FARM­
ERS AND MERCHANTS BANK,
DAVENPORT, NEBRASKA.
L. L. Brandt, president of The Farmers and Mer­
chants Bank, of Davenport, Nebraska, has sold his in­
terests in that institution to A. H. Warren, cashier,
who has owned a controlling interest in the bank since
he became connected with it several months ago.
The work on the new building will be commenced
as soon as possible and will be pushed rapidly to com­
pletion.

INMAN STATE BANK, INMAN, NEBRASKA,
RAISES CAPITAL STOCK TO $15,000.
At the semi-annual meeting of the board of directors GEORGE BRANDEIS MADE A DIRECTOR IN
of the Inman State Bank of Inman, Nebraska, the capi­
U. S. NATIONAL BANK, OMAHA.
tal stock was raised from $10,000 to $15,000 and a
George Brandeis has been elected a director in the
dividend of five per cent was declared.
United States National Bank, Omaha, Nebraska, to
When George C. Davis took the cashiership of the succeed the late Arthur D. Brandeis.
bank on May 1, 1915, the expenses excelled the profits
George Brandeis, who came to Omaha following the
by $750, and now after declaring a dividend and rais­ death of Mr. Hugo Brandeis to assume part of the re­
ing the capital there is left $1,400 in the undivided sponsibility of management of the Brandeis mercantile
profits account. This surely speaks well of the ability interests, has now become the head of all the Brandeis
of Mr- Davis.
enterprises and interests in Omaha. The death of Ar­
thur D. Brandeis left a vacancy on the directory of the
THE OMAHA NATIONAL BANK, OMAHA, CEL­ United States National Bank in which the Brandeises
EBRATES ITS FIFTIETH ANNIVERSARY.
have been heavy stockholders since 1909, when their
The Omaha National Bank, of Omaha, Neb., has State Bank was taken over by the National Bank.
passed its fiftieth anniversary as a banking institution.
“ON THE TRAIL OF YOUR SMALL COIN.”
A member of the Millard family has always been at its
The Grand Island National Bank of Grand Island,
head, J. H. Millard being the present president.
For fifty years, the Omaha National Bank has been Nebraska, has issued a folder with their statement of
John W . Overstreet

Walter H. Rhodes

Rhodes-Overstreet Company
Consulting Bankers
Bank Stocks
OMAHA
907 W . O . W . Bldg.


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Federal Reserve Bank of St. Louis

-

-

-

-

-

NEBRASKA
Phone Douglas 5 546

August, 1916

THE

U nited

NORTHWESTERN

S tates

BANKER

N ational

45

B ank

OF OMAHA, NEBRASKA
C a p ita l------ $1,000,000.00
Surplus and
P ro fits ......... $830,000.00
Deposits - - - - $15,000,000.00

G. W . W A T T L E S , C hairm an of th e B oard
M. T . B A R L O W , P re sid en t

1 1 1 "

W . E. R H O A D E S , V ice-P resid en t
G. E. H A V E R S T IC K , V ice-P resid en t
R. P. M O R SM A N , C ashier
J. C. M cC L U R E , A sst. C ashier
G. H. Y A T E S , Asst. C ashier

Your Business Cordially
Invited

C. F. B R IN K M A N , A sst. M gr. C red it D e­
p artm en t

June 30th, entitled “On the Trail of Your Small Coin,”
which is as follows: “Have you marked the number
of people who 'are camping on the trail of your small
coin? Big five and ten cent stores whose owners have
amassed fortunes by concentrating on plans that sepa­
rate people from their nickels and dimes—Movie
houses paying big rents in the heart of town, putting
up gaudy, costly fronts, with people standing in line,
waiting for their turn to cast their trifles into cash
boxes—Candy shops, soda fountains, cigar stores, shine
parlors, trinket counters—alb scooping up with untiring
ing energy the small coin cast at their feet, it would
seem in feverish anxiety to get rid of it. And the ro­
mance of it is that often those with eye single to a
harvest of small coin have the big bank accounts. Do
you take your small coin as seriously as do these wise
ones who are camping on its trail? If it is profitable
business for them to pursue your small coin, why isn’t
it as good business for you to try the harder to hang
on to it? If your little coin gives out a cheerful chink
as it drops into somebody’s cash register, won’t it
sound even better when you yourself pour it into the
savings window? If other people build enormous for­
tunes on a foundation of nickels and dimes, isn’t it
reasonable to assume that you can, at least build a
moderate one?
Our suggestion—Start Savings Account With the
Grand Island National Bank.
The capital of the bank is $100,000, surplus $100,000,
undivided profits, $19,757.96, dividends unpaid, $3,000,
circulation, $100,000, reserved for taxes, $1,000 and de­

posits $966.892.42, making total liabilities of $1,290,650.38.
The officers of the Grand Island National Bank are:
C. C. Hansen, president; J. W. Thompson and E. M.
Brass, vice-presidents; T. J. Hansen, cashier; A. J.
Guendel and L. R. Brininger, assistant cashiers.
G. E. HAMMER AND J. B. WOOD PURCHASE
AN INTEREST IN THE DAWSON COUNTY
NATIONAL BANK, LEXINGTON, NEB.
E. M. F. Leflang, president and A. E. Grantham,
cashier of the Dawson County National Bank, of Lex­
ington, Neb., have sold their interests in the bank to G.
E. Hammer and J. B. Wood, who have become presi­
dent and cashier, respectively. Both of these men are
experienced bankers and have been very successful.
Mr. Leflang was the founder of the Dawson County
National, while Mr. Grantham has been an officer for
the past twenty-six years.
James P. Carr remains as vice-president and Peter
Jensen and John Roberts as assistant cashiers.
FREMONT, NEBRASKA, BANKS DECLARE
DIVIDENDS.
The Commercial National Bank of Fremont, Ne­
braska, declared a semi-annual dividend of five per cent
and the Home Savings Bank, an auxiliary, voted to
pay stockholders the same amount of their holdings.
The Farmers and Merchants National Bank declared
a semi-annual dividend of four per cent.
The First National declared a semi-annual dividend

*The M erchants N a tio n a l Bank
of
— —...

L a th e r D rak e, P re sid e n t
F ra n k T. H am ilton, V ice-President
F red P. H am ilton, C ashier

ACCOUNTS SOLICITED


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Federal Reserve Bank of St. Louis

OMAHA,

N E B R A S K A

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

-

B. H. M eile, Asst. C ash ie r
S. S. K ent, Asst. C ashier
F. A. C uscaden, Asst. C ashier

U. S. DEPOSITORY

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

C apital - - $ 5 0 0 ,0 0 0 .0 0
S urplus - - - - $ 5 0 0 ,0 0 0 .0 0
U n d iv id ed Profits - $ 4 2 4 ,7 7 5 .4 2
D eposits - - $ 8 ,9 4 8 ,7 8 2 .1 9

THE

46

NORTHWESTERN

BANKER

August, Ì9l6

F or Quick & A ccurate R eturns
INSTRUCT YOUR LIVE STOCK PROCEEDS
DEPOSITED IN

LIVE STOGK NATIONAL B A N K OF OMAHA
'

UNION STOCK YARDS

RESOURCES OVER $4,500,000.00

NEBRASKA

Stock National, $4,216,311; Packers National, $2,134,635; Corn Exchange National, $2,234,582; State Bank
of Omaha, $3,248,103; Security State Bank, $583,124
and South Omaha Savings Bank, $325,152 This makes
total deposits in these twelve banks of $77,686,694.

of three and one-half per cent and the Fremont Na­ T. T. VARNEY, CASHIER OF FIRST NATIONAL
tional and Security Savings voted to pay a five per
BANK, ANSLEY, NEB., SELLS A LARGE
cent dividend.
PART OF HIS BANK STOCK.
T.
T.
Varney,
cashier of the First National Bank of
H. N. DOVEY ELECTED PRESIDENT OF THE Ansley, Nebraska,
has sold a large part of his bank
FIRST NATIONAL BANK, PLATTSMOUTH,
stock
to
R.
A.
Studley,
cashier of the German State
NEBRASKA.
Bank of Staplehurst, Nebraska, and L. J. Dunn, viceThe following officers have been elected for The president
of the City National Bank of Lincoln.
First National Bank, of Plattsmouth, Nebraska: Presi­
Mr. Studley has also purchased Mr. Varney’s resi­
dent, H. N. Dovey; vice-president, Dr. E. W. Cook; dence
and will occupy a position in the bank and on
Cashier, F. E. Schlater; assistant cashier, G. O. Dovey. the board
of directors. There will be no other change
H. N. Dovey takes the place made vacant by the
in
the
officers
and directors.
withdrawal of G. E. Dovey and Mr. Schlater succeeds
Mr. Varney will retire from active business and ex­
H. N. Dovey as cashier of the institution.
pects to spend considerable time in California.
THE OMAHA NATIONAL BANK HAS HIGHEST
NEBRASKA NEWS AND NOTES.
DEPOSITS OF OMAHA BANKS, ACCORD­
ING TO STATEMENT OF JUNE 30.
The First National Bank, Columbus, Neb., recently
According to the statements of June 30, 1916, the installed mahogany fixtures, with marble base, which
Omaha National Bank has deposits of $15,752,556; U. they puchased from the H. Ehrlich & Sons Manufac­
S. National, $15,100,129; The First National, $13,903,- turing Company, of St. Joseph, Mo. This is a very
661; Merchants National, $8,928,557; Stock Yards Na­ beautiful bank.
tional, $7,846,425; Nebraska National $3,115,459; Live
The Farmers & Merchants Bank, Foster, Neb., which
is one of the finest banks in that section of the state,
purchased a beautiful set of bank fixtures of highly
finished mahogany, from the H. Ehrlich & Sons Manu­
facturing Company, St. Joseph, Mo.
The Elmwood State Bank, Elmwood, Neb., pur­
chased of the H. Ehrlich & Sons Manufacturing Com­
We can offer at 6 per cent discount six months
loans of manufacturers and installment concerns,
pany, St. Joseph, Mo., quarter sawed white oak bank
long established and well rated in Dun and Bradfixtures, fancy grille work, finished in the new shade of
street. Each loan is secured by customers’ notes at
Early English. This bank is certainly a credit to the
a margin of 50 per cent or more taken from retail
town of Elmwood.
customers for merchandise sold and delivered. The
borrower remits collections made semi-monthly, with­
At the regular July meeting of the Board of Direc­
out rebate of interest. Usually 40 per cent or more
tors of the Pierce State Bank, Pierce, Neb., Frank Pilof each loan is repaid prior to maturity, thus giving
the lender an average deposit of about 20 per cent.
ger was made president, D. C. Deibler cashier, and L.
A. Bechter, assistant cashier. C. E. Pilger was added
to the Board of Directors.
W M . A . L A M SO N & C O .
Established 1904
Commercial Paper
Chas. F. Schramm has resigned as vice-president of
the Farmers and Merchants Bank of Foster, Neb., and
60 Wall Street
N ew York
his stock has been purchased by Chas. E. Watson.
This bank has just moved into its new brick building.

COLLATERAL LOAN


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Federal Reserve Bank of St. Louis

THE

August, 1916

NORTHWESTERN

47

BANKER

The Omaha National Bank
Omaha, Nebraska
Established in 1866

Capital $1,000,000.00

Surplus and Profits $950,000.00

Exceptional collection facilities for Iowa business.

Items routed direct.

OFFICERS
J. H. MILLARD, President
W . H. BUCHOLZ, Vice-President
W ARD M. BURGESS, Vice-President
J. DeF. RICHARDS, Cashier
FRANK BOYD, Assistant Cashier
B. A. WILCOX, Assistant Cashier
EZRA MILLARD, Assistant Cashier
O. T . ALVISON, Assistant Cashier

nection with the Elliott-Fisher bank bookkeeping ma­
NORMAN W. HARRIS, CHICAGO, DIES.
Norman W. Harris, chairman of the board of the chine for getting a complete check on the work from
Harris Trust and Savings Bank, died at his summer every angle the same day.
The bank bookkeeping machine combines the vari­
home, Wadsworth Hall, Lake Geneva, Wisconsin, re­
ous operations of posting -the ledger and making the
cently from heart trouble.
Mr. Harris was the founder of the Harris Trust and continuous check and deposit journal all in one. The
Savings Bank of which he was the president until 1913. statement may also be made at the same operation if
desired. At the end of the run or the end of the day’s
AMERICAN BRANCH BANK FOR LIMA, PERU. work these sheets; enable -the auditor or cashier to
A branch of the Mercantile Bank of the Americas is know in detail just exactly what the various entries
to be opened soon in Lima, Peru. Robert A. Beau- for that day have been. It is not necessary to page
sire, who is connected with that organization, had a back through the ledger to get complete proof of post­
conference with the President of the Republic at which ing to the correct account.
The Elliott-Fisher method of double checking main­
he stated the intention of the New York syndicate to
establish in Lima under the name of the Banco Mer- tains the full efficiency of the double checks used
when bookkeeping is done by hand. In addition, the
cantil del Peru.
The Mercantile Bank of the Americas, recently estab­ journal afifords complete proof of all work from every
lished for the purpose of entering the Latin-American angle the same day. In fact, within ten to fifteen min­
field, is backed by Brown Bros, and Co., J. W. Selig- utes of each run the auditor is in possession of proof
man & Co., and the Guaranty Trust Co., all of New that every item is properly posted, not only as regards
amount, but as regards posting to the correct account
York.
as well.
In case an error is brought to light when checking,
NATIONAL BANKS INCREASE.
There are 14,288,059 national bank depositors in the it is a simple matter to run back over the auditor’s
country, the number having increased 86 per cent since journal of checks and deposits and locate the error
1910, according to Comptroller Williams. Pennsyl­ with practically no loss of time.
This method of bank bookkeeping by machinery is
vania leads all the states in the number,of depositors,
reporting 2,021,878 as against 762,738 in 1910. New now in successful operation and bids fair to attract
very general attention throughout the entire banking
York shows the next largest number of 1,199,471.
The largest actual increase by geographical divisions field during the coming year.
Full information may be obtained by addressing the
was shown in the Middle Western States, which give
an increase of 1,773,370 depositors, although the south­ Elliott-Fisher Company, Harrisburg, Pa. Their bank
ern States lead in the largest percentage of increases. department is at the disposal of all bankers.
PROOF OF POSTINGS TO CORRECT AC­
COUNTS ARE ACCURATELY OBTAINED.
The necessity for having complete proof in the b.ank
of all bank bookkeeping from every angle lias resulted
in the adoption of various double checks on the sev­
eral operations which, so far as securing accuracy is
concerned, are probably not equaled in any other ac­
counting system ; and the value of accuracy in bank
accounting cannot be overestimated.
Any method which makes it possible to maintain
the necessary standards of accuracy and at the same
time makes it possible for the banker to decrease the
time and labor involved in getting the desired results
has a direct interest for every progressive banker.
One of the recent interesting developments along
the line of bank accounting is the method used in con­

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

THE HOGGSON
BUILDING METHOD
OWNER

DECORATOR

A Single Contract and a guaranteed limit
of cost for a complete building operation.
W rite fo r Method Book

HOGGSON BROTHERS
485 Fifth A ve., N e w Y o rk
NEW YORK
BOSTON
N E W HAVEN
C H IC A G O
ATLANTA

48

THE

NORTHWESTERN

BANKER

August, 1916

S io u x F a i l s S a v i n g s B a n k
SIOUX

FALLS,

S.

D.

C a p i t a l .........................................$200,000.00
Total R eso u rces Over . . . $2,800,000.00
OFFICERS

WILLIAM ONTJES, President
C. H. ROSS, Vice-President
C. C. BRATRUD, Vice-President
L. D. MANCHESTER, Vice-President

JAS. B. LAMBERTSON, Cashier
K. B. CRESSEY, Asst. Cashier
F. A. FOSDICK, Asst. Cashier
R. L. HARRIS, Auditor

A Live Com m ercial Bank
A cco u n ts of B a n k s a n d B a n k e r s S o lic ite d

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3
S

|

SOUTH DAKOTA

FARMERS STATE BANK ORGANIZED AT
ROWENA, S. D.
At a meeting of the stockholders of the Farmers
State Bank, of Rowena, South Dakota, the following
were elected as directors until January 1, 1917: J. C.
Walker, of Sioux Falls; Phillip Jacobson, Peter An­
derson, Will Webster and John Meylink, of Rowena.
Phillip Jacobson was elected president, Peter Anderson
vice president and J. E. Walker cashier. This is the
fourth bank which Mr. Walker has organized, the last
one being at Nunda, S. D., which he sold some time
ago.
A new building will be erected and the bank opened
with a paid-up capital of $15,000 in time to take care
of this year’s business.
ABERDEEN, S. D., BANK DEPOSITS SHOW
GAIN OF $1,362,000 OVER JUNE 23, 1915, CALL.
A marked increase in the deposits of the Aberdeen,
South Dakota, banks has been noted at the close of
business June 30, 1916, over the call of June 23, 1915.
The deposits in Aberdeen’s six banks at the close
of business June 30, 1916, amounted to $5,164,000 and
the deposits for the call of June 23, 1915, totaled $3,802.000, thus showing an increase for the year of $1,362,000 or 33 per cent.
These figures show a steady increase in business in
the city for twelve months, and are proof of the grow­
ing prosperity of Aberdeen and vicinity.
FIRST NATIONAL BANK OF BRANDT, S. D.,
TO OPEN AUGUST 15TH.
The First National Bank of Brandt, South Dakota,
has been authorized by the comptroller of the currency
with a capital of $25,000 and $2,500 surplus.
A. H. Peterson was elected president; James Carton,
vice-president; E. J. Rose, H. O. Hanson, J. P. Holen,
John Larson and John Strand, directors.
The new institution expects to commence business
August 15th in temporary quarters, but a new bank
building will be erected as soon as possible.


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Federal Reserve Bank of St. Louis

S en d Us Your F arm Loan A p p lic a tio n s

H. G. TEMTE, OF FLANDREAU, S. D., PUR­
CHASED CONTROLLING INTEREST IN
FIRST NATIONAL BANK, BRYANT,
SOUTH DAKOTA.
H. G. Temte, of Flandreau, South Dakota, has pur­
chased the controlling interest in the First National
Bank of Bryant, S. D., from H. E. Hemingway, cashier.
Mr. Temte is at present in the general merchandise
business at Flandreau, being a member of the firm,
Temte & Temte.
Mr. Temte moved to Bryant about August first, but
no other changes will be made in the officers or direc­
tors of the First National Bank.
FIRST STATE BANK OF CLAREMONT, S. D.,
IN GOOD CONDITION.
The First State Bank of Claremont, South Dakota,
which was founded in 1900 by W. E. Stevens, of Sioux
Falls, with a capitalization of $10,000, is a strong, solid
institution. The capital was raised in 1916 to $15,000.
The last financial statement of the bank shows:
Loans and discounts, $90,054; cash and due from
banks, $54,893 ; surplus, $2,500; undivided profits, $3,972; deposits, $131,698; and total resources, $153,170.
The officers are: C. J. Weiser, president; R. Algyer,
vice-president; A. T. Hagen, cashier, and Carl Amund­
son, assistant cashier.
Mr. Hagen, who succeeded O. J. Melgard as cashier
on May 1st, comes from Chester, N. D., where he has
been assistant cashier of the First State Bank for the
past two years, prior to which time he was assistant
cashier of the First State Bank of Oldham for three
years.
SECURITY NATIONAL BANK, SIOUX FALLS,
S. D., ERECTING NEW BUILDING.
The Security National Bank of Sioux Falls, South
Dakota, is erecting the first steel skeleton office build­
ing in the state. The first floor will be occupied en­
tirely by the bank and the upper floors will be sub­
divided into offices.
The exterior of the building has a base course of
gray Georgia granite and above this and extending
to the second floor windows is Bedford stone, artistic­
ally carved. The banking room is designed with a
center lobby in which are located two check desks and
a marble seat. The counter from floor to cornice is
Tavernelle marble, the check desks and seat being of
the same material. This marble is quarried in the

August, 1916

THE

NORTHWESTERN

DAKOTA TRUST

BANKER

&

49

SAVINGS BANK

S IO U X FA L L S, SO . D A K .

Capital and S u r p lu s $ 1 0 5 , 0 0 0 . 0 0
A c c o u n t s o f B a n k s , B a n k e r s a n d I n d iv id u a ls s o lic ite d o n r e a s o n a b le te r m s .
a n d in te r v ie w s in v ite d .

C o rresp o n d en ce

T h e E n tire S t a t e o f S o u th D a k o ta H a n d le d D ir e c t

Deposits in This Bank G U A R A N T E E D Under the South
Dakota Bank Guarantee A ct
OFFICERS
N. O. M O N S E R U D , C a s h ie r
E . E . O L ST A D , A s s t, C a s h ie r

W . C. H O L L IS T E R , P r e s i d e n t
T O R E T E IG E N , V i c e - P r e s i d e n t
O. A. H A Y W A R D , V i c e - P r e s i d e n t

mountains of northern Italy and the floor in the bank­ recently bought the stock of the Northville State Bank,
Northville, S. D., formerly owned by Norbeck and
ing room is gray Tennessee marble.
The entire superstructure of the building is carried Nicholson, of Redfield, and the new officers will be as
on a steel skeleton of columns, beams and girders, all follows: President, F. B. Gannon; vice-president, Zriveted together and so designed as to carry the entire P. Muster; cashier, John Weber and assistant cashier,
superimposed load. The total weight of the steel is Leonard Henning.
300 tons. The floors are a combination of reinforced
Work was commenced recently on the extension to
concrete and clay tile, spanning from girder to girder, the First National Bank building, Vermillion, S. D.
and all steel work is fireproofed. Each story of the
A. C. Kingsbery, cashier of the Security State Bank
exterior walls is carried on the steel individually. The
of
Montrose, S. D., was married recently to Miss Edith
partitions are made of gypsum blocks which are fire­
Lusk, of Pensacola, Fla.
proof.
It is probable that Mr. Butterfield, of Pilger, Neb.,
will establish a bank at Smithwick, S. D.
SOUTH DAKOTA NEWS AND NOTES.
A new bank has been incorporated at Florence, S.
D., with a capital of $15,000, known as the State Bank
T H E C H A R A C TER COM PANY
of Florence.
A. T. Wright, formerly engaged in the banking busi­
Get the Significance of These Facts
ness at Bristol, S. D., has accepted apposition as teller
with the Scandinavian-American National Bank, Sioux
Falls, S. D., succeeding H. R. Bigham.
A new building will be erected for the State Bank
of Bradley, S. D. It will be 36 by 50 feet in size and
will be modern in every respect.
IS THE
Bank clearings in Sioux Falls during the month of
—First and Only Company ever organized in Sioux City and
June totaled $5,135,126. The figure represents a gain
its trade territory.
of $212,670, or more than four per cent over the total
—Largest Company Ever Organized in Iowa.
for the same month last year. This is a sure sign of
— Nearly Six Hundred influential stockholders.
the continued prosperity in that part of the country.
—Strongest Backed, and best formed Company in the
Northwest.
The newly organized Citizens National Bank at Bris­
— Has Every Penny of its authorized capital Paid Up in cash
tol, S. D., has opened up for business.
and deposited with the state—the Largest Similar De­
posit Ever Made in Iowa.
The contract has been let for the new bank building
—More Conveniently Located for Bankers in this territory
for the White State Bank, White, S. D. The structure
than any other insurance company.
will be of brick, with a white brick front.
—Easier Policy Contracts to sell— Greater Service to
The bank clearings of Aberdeen, S. D., continue to
buyers.
show a large increase over the clearings of a year ago.
—Double Indemnity, Total Disability, and other advan­
tages granted.
The total clearings for the month of June, 1916, are
$3,577,023.71 as compared with $2,752,610.76 for that
Ask for our local Bankers’ Gontract
month a year ago. The increase is $824,422.95, or 30
per cent.
The newly organized Farmers State Bank of Wata­
uga, S. D., opened up for business recently.
of Iow a
Alvin Quail, who has been assistant cashier of the
S io u x C ity , U . S . A.
First State Bank of Sinai, S. D., for several years has
resigned and Carl Quail has succeeded him.
R A L PH H . RICE, President
F. B. Gannon, Z. P. Muster and John Weber have

NATIONAL FIDELITY LIFE

National Fidelity Life Insurance Co.


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Federal Reserve Bank of St. Louis

THE

50

NORTHWESTERN

BANKER

August, 1916

HU

SIO U X FA L L S
NATIONAL BANK
S I O U X FALLS, S. DAK.
E s ta b lish e d - - - 1882
S io u x F a lls ’ O ld est B a n k

^¡Successfully conducted for more than a
third of a century under one competent
and CONTINUOUS management.
nl

Ü

SOUTH DAKOTA

per, 275; (b) maturity of paper, 108; object to “red
tape (a) in connection with rediscounts, 105 ; (b)
of system in general, 158; object to limitation of farm
mortgages to 25 per cent of capital, 236; object to office
of comptroller, 63; object to incumbent of comptrol­
ler’s office, 143; object to power given to national
banks to accept trusts, 29; object to no interest on re­
serve deposits, 284; object to exclusion of all restric­
tions on real estate mortgage loans (other than farm
mortgages), 225; object to restrictions on loans in
general, 140; object to duplication of expense and in­
convenience : (a) because of examination, 243 ; (b) be­
cause of reports, 159; object to supervision by both
national and state authorities, 163; object to probable
lack of dividends on Federal Reserve stock, 239; ob­
ject to capitalization of F. R. Banks, (usually as a
cause of absence of dividends), 103; object to clearing
and collection feature, 65 ; see no advantage in join­
ing, 807; advantages outweighed by disadvantages,
133 ; bank gets benefit of system through its corre­
spondents, who are members, 133.

Bank clearings in Sioux Falls, S. D. during the
month of May showed a gain of more than a million
and a half dollars over the total for the same month a
year ago.
W. P. Jones, of Aberdeen, and John Price have ac­
cepted positions in the Citizens State Bank, Mobridge,
S. D., to help take care of the steadily increasing busi­
ness of that popular institution.
The Pennington County Bank, Rapid City, S. D., re­
cently moved into their elegant new home.
Ira Van Cleve, who has been instructor in the Lem­
mon High School, has accepted a position at the First
State Bank of Lemmon, S. D.
C. Vorlander, of Eureka, a banker with large inter­
ests in that section of the state, has purchased the
HOW BANKERS ARE ADVERTISING.
Farmers State Bank of Mina, S. D., from Charles
(Continued from page 23.)
Barkl. C. C. Conklin, cashier of the Mina Bank, will
promote
their
growth. I believe, however, that a mul­
continue in that position. Mr. Barkl will devote his
tiplication
of
detail
is unnecessary. We all know that
attention to the bank of Warner, which he also owns.
intelligent application, if it is of the right sort, and if
it is timely, and if it is continuous, will achieve the
result that is desired. We all know that intelligent
WHAT BANKS THINK OF RESERVE ACT.
concentration when applied to the building of a bank’s
(Continued from page 19.)
pect of F. R. Board, 70; dissatisfaction with present business can justify itself just as completely as it can
comptroller, 159; system of no value to country banks, in any other line of human endeavor.
It is my firm conviction, as I know it is yours, that
257; system of little value to country banks, 227; still
when
the American banker becomes honestly convinced
necessary to maintain relations with correspondents,
598; don’t see why state banks should join, 376; object that real advertising is not unethical; is not an ex­
to no interest on deposits, 903; dividend F. R. Bank pense but a profitable investment; and promotes not
stock unsatisfactory, 624; capitalization of F. R. Banks only his own business but the business of the entire
too large, 292; system too expensive, 326; proportion community, he will be quick to brush away the dusty
required for deposit too large, 218; state banks receive cobwebs of superstition and tradition and precedent,
and come out into the open sunlight of constructive
benefits without joining, 55.
altruism and on to the broad highway of achievement,
Suggestions Offered by Non-Member Banks.
whose travelers have learned by intimate experience
General approval, 349; permit part of reserve to be that
is possible and relatively easy to “make adver­
carried with correspondent, 40; Federal Reserve Bank tisingit pay.”
should not compete with members, 37; rulings re state
banks should be embodied in the law, 36; guarantee
of deposits, 20; reserve system should guarantee state BILLY SUNDAY SERMON ON OVERDRAFTS.
(Continued from page 26.)
members all rights now possessed under state laws, 7.
troller
of
the
Currency, and all Banking Associations,
Objections Offered by Non-Member Banks.
and all Bank Examiners, and all Superintendents of
Rediscount privileges of little value: (a) kind of pa- Banks and all Bankers are uniting in a mighty effort


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

August, 1916

THE

NORTHWESTERN

51

BANKER

JO S E P H W A Y N E , J r „ P re sid en t
E V A N R A N D O L P H , V ice-P resident
C H A R L E S M. A S H T O N , C ashier

A. W . P IC K F O R D , A ssistan t C ashier
A L F R E D B A R R A T T , A ss’t C ashier

The Girard National Bank
PH IL A D E L PH IA , PA.

Capital, $2,000,000

Surplus and Profits, $4,800,000
Deposits, $60,000,000
ACCOUNTS OF BANKS AND BANKERS SOLICITED
“T o Satisfactorily Handle Your Business, You Need a Philadelphia A ccount”

to paralyze the “clutching hand” that persists in sign­
ing “Red” checks, ought to convince all reasonable,
fair-minded men of the necessity of abating the “Over­
draft” evil.
If there is anything on earth that will give the bank­
er the “jim-jam-jems,” it is to run down the Daily
Balance Sheet and find, every few lines, a lot of Little
Red Devils “blinking” at him.
The Red accounts, scattered, salt and pepper fash­
ion, all over the Individual Ledger makes him want to
go out and “beat up” everybody he meets.
If there is anything under the shining sun, moon
and twinkling stars that will drive a strong man to
drink and cause him to “run-amuck,” it is those over­
drawn accounts.
When your banker is as cross as a she-bear, as

ornery as a Missouri mule, and as unhappy as an old
maid with her last chance gone—when he kicks the
office boy out of doors, fires the help and invests in
another quart of good red ink, you may know the book­
keeper has just handed him a list of overdrawn ac­
counts.
If you are running an overdraft, better get busy and
cover, or we will knock your bloomin’ block off, by
refusing your checks. We will “kill” your old account
by charging it off the books, and put you in line for
the hospital, the first time we can make a “sneak” on
you.
When in Rome, one must do as the Romans do. The
only way to fight the Devil is with Fire, and so, if you
persist in “mauling” us with that “overdraft thing,” we
shall surely invest in a baseball bat.

One Day Saved
Financial Minneapolis and St. Paul were formerly tw enty-four hours apart.

On July 1, 1916, these tw enty-four hours were eliminated.
T h e T w i n C ity C le a rin g H o u s e , e s ta b lis h e d o n th a t day, w as th e m e a n s b y w h ic h th is
ste p to w a rd g r e a te r e ffic ie n c y w as m a d e .
C h e c k s d ra w n o n St. P a u l re c e iv e d b y th is b a n k in its m o r n i n g m a il a re c r e d ite d to th e
a c c o u n ts o f th e se n d e rs, d e liv e re d a t e le v e n o ’c lo c k o f th e sa m e m o r n i n g to re p r e s e n ta ­
tiv es o f th e St. P a u l b a n k s o n w h o m th e c h e c k s a re d ra w n , c h a r g e d o n th e b o o k s o f th e
d ra w e e b a n k s, a n d a n y d iffic u lty in p a y m e n t o r se rio u s ir r e g u la r ity is r e p o r te d to th is
b a n k o n th e sa m e d a y o f r e c e ip t o f th e c h e c k s in M in n e a p o lis .

T h is b an k is equipped to handle y o u r T w in C ity, y o u r N o rth w e s te rn and
y o u r E astern item s, in th e q u ick e st possible tim e.

N o r th w e ste r n N a tio n a l B ank
Minneapolis, Minnesota
R e s o u r c e s ............................................................................-


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Federal Reserve Bank of St. Louis

-

$48,000,000

52

THE

NORTHWESTERN

BANKER

August, 1916

“Made in M in n e a p o lis ”

T h e A m erican Bank P ro te c tio n Co.
C apital $150,000.
Steel Office and Vault Fixtures
Omnibuses

Steel Filing Devices
Vault Doors

ELECTRICAL BURGLAR ALARMS
T w elve years’ experience protecting more than 2,000 banks without
Indorsed by bankers’ associations and expert vault engineers
Every system guaranteed against burglary
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NORTH DAKOTA

|

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robbery

Sailer, of Hazen; M. L. Keeley, of Hazen; Wendelin
Zahn, of Evans, and John and Fred Metter, Sr.
The building, which will be constructed soon, will
be built of Hebron pressed brick, of one story, the main
feature of which will be the farmers’ rest room.
Loranz Joos will be president of the new bank.

JAMES RIVER NATIONAL BANK, JAMES­
TOWN, N. D., ACQUIRES CONTROL OF
FIRST NATIONAL BANK, LITCHVILLE, N. D.,
FIRST STATE BANK, EDMUNDS, N. D.
BUILDING AN ADDITION TO THEIR
The James River National Bank, of Jamestown, N.
BUILDING.
D., has ac-quired control of the First State Bank of
The First National Bank of Litchville, North Da­
Edmunds, N. D., and is now under the management of kota, is building an addition on the rear of their present
N. E. Fjosee, cashier of the latter bank. H. T. Graves building. The approximate cost is $20,000 and the di­
is president of the James River National Bank and A. mensions are 20 by 25.
B. De Nault is vice-president.
The new addition will consist largely of a large vault
for storage and safety deposits purposes, to be built
NEW BUILDING FOR THE FIRST NATIONAL in the rear of the present vault, and a room for private
BANK, PLAZA, N. D.
consultations and directors’ meetings.
The contract has been let for the erection of new
The officers of the First National Bank are: A. P.
building for the First National Bank of Plaza, North Hanson, president; J. R. Gamlin, vice-president, and
Dakota. Work on the new structure will commence S. J. Sundet, cashier.
as soon as the old building can be removed. The new
building will be one story high, modern throughout J. J. GREST ELECTED CASHIER OF THE FIRST
with steam heating plant and other conveniences, mak­
STATE BANK OF MOTT, N. D.
ing it modern and up to date.
J. J. Grest, formerly assistant cashier of the Bank of
The officers of the First National are: R. W. Akin, Valley City, North Dakota, has been elected cashier
president; Aug. Peterson, vice-president; L. E. Linder, of the First State Bank of Mott, and has taken up his
cashier, and Anton Jeustad, assistant cashier.
duties in that bank.
G. E. Towle is president of the First State Bank and
FIRST STATE BANK, FORT YATES, N. D.,
F. G. Orr is vice-president.
CHANGES HANDS.
C,
B. Little, president of the First National Bank of
GRAND FORKS BANKS MAKE GOOD
Bismarck, North Dakota, and A. O. Schimansky,
SHOWING.
cashier of the Solen State Bank, Solen, North Dakota,
An increase during the last year of over $2,000,000
have taken over the controlling interest in the First in the wealth of the territory of which Grand Forks is
State Bank of Fort Yates.
the banking center has been shown in the last state­
J. L. Haas will remain as cashier. The stock taken ments of the banks issued June 30th.
over was formerly owned by F. B. Lynch, of St. Paul,
Between June 23, 1915, and June 30, 1916, the de­
R. H. Treacy and others.
posits of the Grand Forks banks increased by $2,013,539
and the total resources by $1,953,511. This is one of
FIRST NATIONAL BANK ORGANIZED AT
the greatest increases ever shown by Grand Forks
BEULAH, N. D.
banks in the same period of time.
The First National Bank has been organized at
On June 30, 1916, the deposits of the First National
Beulah, North Dakota, and will open for business on Bank were $2,388,565; the Northern State, $1,117,541;
September 1st. This is the first bank to be organized the Northwestern Trust Co., $168,755; Scandinavianunder a national charter in Mercer county.
American, $1,487,811, and the Farmers and Mechanics
Andrew Landgraf, of Beulah, formerly with the Savings Bank, $255,352.
German State Bank of Beulah, is the organizer. Among
A. I. Hunter, vice-president of the First National
the other men interested are: Dr. Hugo Neukamp, of Bank, said; “Increased bank deposits mean that we
Beulah; Dr, W, F. Plassman, of Golden Valley; J. M. will have the funds to promote greater investments in

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Federal Reserve Bank of St. Louis

August, 1916

THE

NORTHWESTERN

BANKER

53

YOUR RANK EQUIPM ENT
is y o u r greatest asset. ^Mak.e y o u r bank, in v itin g and com fort­
able for y o u r clients and at th e sam e tim e m inim ize y o u r
operating expenses b y installing an u p to -d a te and practical system . W e are
ex p erts in th is line and m ake a special­
t y of equipping banks com pletely.

McNamara-Kenworthy Company
Des Moines, Iowa
the future. Increased deposits mean, of course, that
there is more money in the country than there was last
year, due to the exceptionally fine crop of 1915.” .
Samuel Torgenson, vice-president and cashier of the
Scandinavian-American Bank, said: “The increased
deposits mean greater investment. It will be easier to
borrow money for investment and at a lower rate. The
outlook is very hopeful. Such conditions cannot but
destroy pessimism and usher in a feeling of optimism
and hope for the future.”
NORTH DAKOTA NEWS AND NOTES.
J. J. Grest, the efficient assistant cashier of the Bank
of Valley City, N. D., has accepted the position of cash­
ier of the First State Bank of Mott, N. D..
The Carson Construction Company, of New Rock­
ford, commenced recently on a new building for the
Citizens State Bank of Sykeston, N. D. The building
will be 25x40 and of brick. This will be the first brick
business building in the town.
The new bank building erected by the First State
Bank of Van Hook, N. D., will be ready for occupancy
by September 1st.
The Farmers State Bank, Edinburg, N. D., capital­
ized at $15,000, was opened for business recently. H.
H. Troftgrumer, A. M. Moen, K. N. Bjordal, O. Fauskee, H. Gungus, S. G. Girie and G. O. Torgerson as in­
corporators.
The Citizens National Bank of Colgan, N. D., are
erecting a new bank building.

The Equity International Bank, of Fargo, N. D-,
will open for business soon.
At a meeting of the board of directors of the Forbes
State Bank, Forbes, N. D., held recently, R. G. Sager
resigned as vice-president and Henry Wachter was
elected to fill the vacancy.
The Citizens National Bank of Crosby, N. D., has
commenced excavating preparatory to erecting a new
bank building.
Carl F. Convert is preparing the plans for the new
First National Bank building, at Mandan, N; D.
The Farmers & Merchants Bank of Robinson, N. D.,
has awarded the contract for the construction of their
new banking house to Contractor Canning, of Tuttle.
E.
E. Voge, of Mountain Lake, Minn., has accepted
a position in the First National Bank of Munich, N. D.,
succeeding Mr. Torbet, who has resigned.
Geo. Thorvaldson, of Parshall, N. D., secured the
contract for the erection of a new banking house for the
First National Bank, Plaza, N. D. The new building
will be one story high, modern throughout with steam
heating plant and other conveniences, making it one of
the most up-to-date banking houses in that section of
the state.
C. B. Little, of Bismarck, and A. O. Schimansky, of
Solen, N. D., have taken over the controlling interest
of the First State Bank, Fort Yates, N. D. J. L. Haas
will be cashier. The stock taken over was formerly
owned by F. B. Lynch, of St. Paul, R. H. Treacy, of
Bismarck, and others.

Long experience has given us the qualifications essential
to a banking institution seeking to serve out of tow n
banks and bankers.

The Mechanics and Metals National Bank
O F T H E C IT Y O F N E W Y O R K
Total R esou rces (June 30,1916) $206,000,000.


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Federal Reserve Bank of St. Louis

54

THE

NORTHWESTERN

BANKER

August, 1916

R eal Artistic
B eauty
Is strikingly exemplified in the memorial work of “The House of
Quality.”
Skilled artisans fashion the very highest quality granites, furnished
us by the best quarries in the country, into beautiful monuments,
vaults and mausoleums.
The best you can afford would be none too good for those whose
memory you desire to perpetuate. And yet the memorials made
by us, although possessing an individuality seldom equaled in other
memorials cost no more.
Literature will be mailed upon request.

C A P IT O L H IL L M O N U M E N T CO .
“ TH E H O U SE OF Q U A L IT Y "

P. B. SHERRIFF, P r e s.

SOME DEPOSITS ACCORDING TO THE LAST
CALL.
BANK
TOWN
DEPOSITS
IOWA
Alta State Bank, A l t a ......................... $
497,015.66
Citizens State Bank, Anthon..................
280,456.94
First National, A rm strong....................
217,053.19
Farmers Savings, Atlantic ....................
334,154.92
Farmers Savings, Barnes C ity ...............
224,145-57
Battle Creek Savings, Battle C reek ___
361,210.71
Maple Valley Savings, Battle Creek__
373,064.29
Bellevue State, Bellevue ...................
201,165.70
German Savings, Berlin ......................
133,686.00
State Bank of Bondurant, Bondurant...
146,507.42
Breda Savings, Breda ...........................
573,223.56
German Savings, C arroll........................
394,677.04
Cedar Rapids National, Cedar Rapids.. 7,596,008.71
Security Trust & Savings, Charles C ity.. 1,600,654.99
City National, C linton....................
2,959,343.44
Peoples Trust & Savings, C linton......... 3,727,276.44
First National, Coon Rapids . . . . . . . . . . , 281,136.40
City National, Council Bluffs ................. 1,265,762-88
First Savings, Crawfordsville.................
146,151.00
Iowa State Savings, C reston.... ..............
774,665.73
First National, D avenport...................... 2,917,031.35
German Savings, Davenport ................ 11,576,559.86
Iowa National, D avenport...................... 2,749,169.41
Des Moines National, Des Moines......... 7,121,500.39
Iowa National, Des Moines.................. 8,077,871.64
Des Moines Savings, Des Moines__ _
2,824,748.93
925,807.74
Mechanics Savings, Des M oines..........
Valley Savings, Des M oines.................. 1,392,951.53
Valley National, Des M oines................ 2,657,445.32
Second National, D ubuque.................... 1,065.654.68
Dubuque Savings, D ubuque.................. 1,038,374-78
Farmers State, D yersville...................... 1,025,623.35
Manning & Epperson State, Eddyville..
412,931.92
First National, Eldon ..................
195,848.35
State Bank of Farley, F a rle y ....... .
205,871.18
Security Trust & Savings, Ft.'Dodge ..
202,487.82
Grundy Co. National, Grundy Center..
245,410.22
Grundy Co. Savings, Grundy Center___
217,747.67


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Federal Reserve Bank of St. Louis

JOHN PHILLIPS, T rea s.

Frankin County State, Hampton .........
German Savings, H a rtle y ......................
Farmers & Traders Savings, Hillsboro ..
Iowa State, Hull ............................... .
Peoples State, Humboldt .......................
Peoples National, Independence...........
Farmers Savings, I r a .............................
Farmers Savings, Keystone ..................
First National, L y o n s.....................
Lyons Savings, L y o n s...........................
Calhoun County State, Manson.............
Monticello State, Monticello..................
Mt. Hamill State Bank, Mt. H am ill___
National State, Mt- P leasant..................
First Trust & Savings, Muscatine.........
German American Savings, Muscatine..
Hershey State, Muscatine ............
Muscatine State, M uscatine....... ...........
New Sharon State, New S h aro n ...........
Jasper County Savings, N ew to n...........
Farmers Savings, O debolt......................
German Savings, O debolt.....................
The Olds Savings, O ld s........... .............
Mitchell County Savings, O sa g e...........
Ottumwa National, Ottumwa ...............
Wapello County Savings, O ttum w a__
Oxford Junction Savings, Oxford Junct.
Rockford State, R ockford......................
Live Stock National, Sioux City .........
First National, Sioux C ity ....................
Security National, Sioux C ity ...............
Commercial National, Waterloo ...........
Waterloo, Savings, W aterloo................
NEBRASKA
First National, Hastings ........................
Inman State, In m a n ...............................
Citizens National, M cCook......... *..........
Live Stock National, O m aha..................
Merchants National, O m aha..................
Omaha National, O m aha.......................
Stock Yrds Natl, of So. Omaha, Omaha
Scottsbluff National. Scottsbluff.............

734,690.84
387,821.74
116,614-94
213,030.45
465,430.21
702,281.00
76,718.66
269,220.35
649,097.10
1,408,754.24
332,251.50
1,546,822.90
66,170.25
524,225.80
1,713,445.74
1,878,309.61
1,285,439.16
1,954,129.50
158,142.65
876,051.69
189,727.64
179’445 79

247,917.60
320,270.51
1,390,460.83
470,655.01
306,208.04
593,035.21
3,053,095.67
7,207,634.98
4,457’309.29
2,599,242.82
1,082,305.12
1,713,582.28
47,776.02
244,785.76
4,216*311.58
8,928,557.49
15,752,556.09
7,846,425.09
344.164.99

THE

August, 1916

NORTHWESTERN

55

BANKER

MORE SPEED IN MACHINE LEDGER POSTING
O F F S E T B IN D E R U SED IN M ANY B A N K S
20% M O R E s p e e d in p o s t i n g
NO W A S T E m o tio n
G r e a t e r c a p a c it y a n d F L E X I B I L I T Y

B r i n g i n g t h e h u m a n e l e m e n t in to
a m a c h in e p r o c e s s n a t u r a l l y s lo w s
t h i n g s u p . I t ’s t h e p a r t t h a t ’s d o n e
by h a n d t h a t lim its th e p ace.

NO K E Y N E E D E D
S e p a ra te s
p o s te d
LEAVES
COSTS L E S S

Y ou c a n e lim in a te th e r e ta r d in g
h u m a n e l e m e n t in m a c h in e b o o k ­
k e e p i n g b y e q u ip p in g w i t h t h e o n ly
le d g e r a n d s ta te m e n t b in d e r th a t
m a k e sh e e t h a n d lin g a u to m a tic .

and

u n p o s te d

WILL H. ZA1SER

DE LUXE

SPECIALTY CO.

T R A Y B IN D E R S

DES MOINES
309 4th St.

First National, Schuyler ........................
322,567.20
218,095.11
Nebraska State Savings, Wahoo .........
Saunders County National, Wahoo . . . .
402,439.54
City National, York ...............................
624,851.33
MINNESOTA
First National, Brainerd ........................ 1,400,788.03
Farmers & Merchants State, Marietta ..
156,450.15
First & Security National, Minneapolis.. 56,748,278.40
Minnesota Loan & Trust Co., M in n .... 3,953,502.15
Northwestern National, Minneapolis... 41,578,551.79
Scandinavian-American Nat., Minneapolis 11,072,233.54
270,710.72
Merchants State, Red Lake F a lls .........
First National, St. P a u l......... ............... 48,377,637.16
Stock Yards National, So. St. Paul....... 2,932,510.71
Merchants National, St. P a u l................ 22,670,378.39
NORTH DAKOTA
First National, Fargo ........................... 4,432,043.55
First National, Grand F o rk s .................. 2,388,565.91
SOUTH DAKOTA
Citizens State, Colm an................
106,962.84
First National, Colman ..........................
236,478.30
Farmers & Merchants State, Eureka.. . .
261,120.82
Citizens State, Irene ................................
239,141.27
Kimball Commercial & Savings, Kimball
156,600.58
First National, M idland..........................
116,216.39
Security National, Sioux F a lls ............... 2,867,984.38
MISCELLANEOUS
First National, Boston Mass..................109,413,188.83
Corn Exchange National, Chicago....... 77,081,288.52
First National, C hicago.......................... 138,694,395.95
First Trust & Savings, Chicago............... 74,127,367.92
Live Stock Exchange National, Chicago 13,156,531.48

National Bank of Republic, Chicago---- 27,502,055-56
Union Trust Company, C hicago........... 31,364,406.06
Reno State Bank, Hutchinson, Kansas..
306,199.78
Kjewanee State Savings, Kewanee, 111.I
364,536.27
Guaranty Trust Co., New York.............437,992,912.82
Hanover National, New York ..............168,231,833.43
Mechanics .& Metals, New Y o rk ........... 175,557,760.75
National Bank of Commerce, New York 273,762,927.80
Bank of North America, Philadelphia . . . 20,169,395.67
Security Trust & Savings, Los Angeles. 47,416,178.94
Security National, Los A ngeles............. 3,487,048.80
Boatmen’s Bank, St. L o u is.................... 14,829,448-48
At a special meeting of the Board of Directors of
the Manning & Epperson State Bank, Eddyville, Iowa,
held recently, John F. Hohl was elected chairman of
the Board of Directors and Frank Epperson, who for
the past nine years has held the office of vice-president,
was elected president, each to fill the vacancy caused
by the death of Mr. John Jager. At the same time Wm.
F. Jager and Joe Johnson were elected vice-presidents
of equal rank, who will act in an advisory capacity.
The interior of the Fayette County National Bank
building, West Union, Iowa, is being redecorated.
C. R. Wick, former cashier at the Exchange Bank,
Collins, Iowa, has bought an interest in a bank at Col­
fax, Iowa.
Margaret Clark, who for the past twelve years has
been bookkeeper in the Peoples Savings Bank of
Grand Mound, Iowa, was married recently to Charles
Farrell, of Mt. Vernon, Iowa.

In All T h a t is G ood Iow a Affords th e 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.

T his C om pany M akes R esults—N o t E stim ates
FRANK D. JA CKSON, P resident

SIDNEY A. F O S T E R , S e c re ta ry

Royal Union Mutual Life Insurance Company,
Correspondence Solicited


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

- - - Des Moines, Iowa
Agents Wanted

56

THE

NORTHWESTERN

AN IDEA THAT INCREASED DEPOSITS.
(Continued from page 8.)
with farmers discussing seed corn and exchanging
ideas of all kinds relative to better farming. Every
farmer in the country was talking seed corn, and of
course the experiment station at the Farmers Bank.
I kept a record of each sample which was brought
in and as soon as the tests were completed I sent out
a card to each farmer who had brought samples, giv­
ing them the number of grains or ears tested, the num­
ber dead, weak and strong, also the percentage of their
tests.
The average test of the samples I received was about
66 per cent. This created more interest than I had an­
ticipated. They began to realize that they must either
buy other seed or test their own. Of course they did
not all test their corn. A few of them had no faith in
the proposition and a few thought it would require
too much extra work, but a large percentage of these
fellows replanted.
About four weeks previous to corn planting time I
secured the services of a seed corn expert and also a
soil expert of the state agricultural college to deliver
lectures at a meeting which we held under the aus­
pices of the commercial club, and which was named
the Better Farming Day. A meeting of this kind un­
der ordinary conditions would not have proven very
successful, but after the farmers had become enthusi­
astic over the testing of their seed corn they wanted
to hear these experts and the meeting was a rousing1
success. About 75 per cent of the farmers in the com­
munity were in attendance.
It would be difficult to estimate the amount of real
benefit the community will derive from this movement

BANKER

August, 1916

or the results obtained for our bank, but I know that
we have secured a number of good accounts and I
know the farmers have a good stand of corn which
will mean hundreds of dollars in deposits when the
crop is marketed.
In connection with this work we expect to continue
in an effort to induce the farmers to select their seed
corn in the fall of the year. We will also hold a corn
show, at which lectures will be given on better farm­
ing and better live stock, as well as other subjects
relative to better farming. Prizes will be given for
the best corn and other grain exhibited. The move­
ment will also be continued in the securing of a coun­
ty agent.
The direct object of this work is “taking interest in
the farmer,” and it is very easy to see the indirect ob­
ject, which is very important to our bank and the
community in general.
The old “bugbear” of the farmer getting the idea
that the banker is “trying to teach him how to farm”
can be overcome very easily if a movement of this kind
is handled tactfully, and the results will be surprising.
COMPETITION IN THE BANKING BUSINESS.
(Continued from page 5.)
the hands of a child is even more dangerous to life
than in the hands of a clever thief.
The mere fact that a man is permitted to be cashier
of a bank should in itself be an evidence that the state
says, “This banker is O. K.—you may trust him with
your money and your confidence.” Let us all be broad
enough to play fair, live and let live, do all the good
we can and treat our competitors as well at home as
we do abroad.

Century Savings
at

Des Moines, Iowa
W ith 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.
W hen any of your friends are com ing to the Capital City, please
direct them to us.

L. E. STEVENS, P resid en t
B. B. VORSE, C ashier


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

J. M. CALLANDER, V ice-P res.
J. E. MORTON, A sst. C ashier

THE

August, 1916

NORTHWESTERN

57

BANKER

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W M . B. B U R N A R D C O M P A N Y ,

L IK L Y L U G G A G E C O . 11

DES
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Federal Reserve Bank of St. Louis

58

THE

NORTHWESTERN

BANKER

August, 1916

Representative Iowa Banks
These banks have special facilities for handling collections and any other business entrusted to them
A LG O N A — County Savings Bank.
C a p it a l,
v id e d
P ro
$ 1 ,0 7 5 ,0 0 0 .
E . J. M u
V ic e - P r e s .,
B a ile y a n d

KLEMME— State Savings Bank.

$ 5 0 ,0 0 0 .
S u r p lu s
an d
U n d i­
f it s ,
$ 6 0 ,0 0 0 .
D e p o s i t s ,

C a p it a l,
$ 1 5 ,0 0 0 .
U n d iv id e d
P r o f it s ,
$ 2 4 0 ,0 0 0 .

rt a g h , P r e s ., C . B . H u t c h in s ,
C . B . M u rt a g h , C a s h ., W . H .
W . K . S c h o b y , A s s ’t C a s h .

W .
W m .
m e r,

ALGONA— First National Bank.
C a p ita l, $50,000. S u r p lu s a n d U n d i­
v id e d P r o f lts , $24,000. D e p o s its , $580,
000.
W m . K . F e r g u s o n , P r e s ., E. V . Swet
ti n g , V ic e - P r e s ., L e s lie C. S e w a r i ,
C a sh ., A. C. F e r g u s o n , A s s t. C a sh .

A D E L — Adel State Bank.

P A N O R A —

S u r p lu s ,
$ 1 5 ,0 0 0 .
$ 1 0 ,0 0 0 .
D e p o s its ,

R . B lo o m , P r e s ., D . D . R o s s a n d
K a t t e r , V ic e - P r e s ., P . M . G r ie s e C a s h ., F . J . W e n c k , A s s ’t C a s h .

M A R S H A L L T O W N —Marshalltown State.
C a p ita l, $100,000. S u r p l u s a n d P ro f lts ,
$100,000. D e p o s its , $1,530,000.
A. F . B a lc h , P r e s . . G . A. T u r n e r , V i c e P r e s ., C. C. T r in e , C a sh ., H a r r y W . J e n ­
n in g s , A s s ’t C a sh .

MONTICELLO— The Monticello St. Bk.
® Capital* $200,000. S u r p lu s and P r o f lts ,

— First National Bank.
C a p ita l, $60,000. S u r p lu s , $50,000. U n ­ M A R EN G O — F irst Nat. Bank & The Iowa
d iv id e d P ro f its , $60,000. D e p o s its , $900C o . L. & Sav. Bank.
000.
C o m b in e d C a p it a l a n d S u r p lu s , $ 1 0 0 , W . A. S a n f o rd , P r e s ., C. S u lliv a n ,
000.
C o m b in e d D e p o s its , $ 6 3 0 , 0 0 0 .
C a sh ., R . G. R o d m a n , A s s ’t C a sh .
C o o k , P r e s ., T h o s. S ta p le to n ,
V ic e - P r e s ., J . H . L e w is , V ic e - P r e s ., C. C.
ELDORA— First National Bank.
C le m e n ts , C a sh ., F. W . G o ld th w a ite ,
A s s t C a sh .
C a p i t a l , $50,000. S u r p l u s a n d P r o f i t s ,
$60,000. D e p o s its , $500,000.
W . J . M u r r a y , P r e s ., W . E . R a th b o n e , NEVADA—First National Bank.
V ic e - P r é s ., A. W . C r o s s a n , C a sh ., H . C.
C a p ita l,
$75,000. S u r p lu s ,
$50,000.
M a r k s , A s s ’t C a sh . U. S. D e p o s ito ry .
D e p o s its , $475,000.
J . A. F i t c h p a t r i c k , P r e s ., F r e d C. M c­
C a ll, V ic e - P r e s ., E . A. F a w c e t t , C a sh .,
G L A D B R O O K — F ir s t
N a t io n a l B a n k .
G. A. K lo v e . A s s 't C a sh .
C a p i t a l . $ 5 0 ,0 0 0 . S u r p l u s , $ 2 5 ,0 0 0 . U n ­
C H E R O K E E

d iv id e d

P r o f it s ,

$ 2 0 ,0 0 0 .

D e p o s it s ,

$ 3 7 5 .-

000.
M a r t in
M e e .,
P r e s .. M . H . R e h d e r ,
V ic e - P r e s ., E . W . B r a u c h , C a sh ., F r a n k
K e l l e y , A s s ’t C a sh .

H A R T L E Y — German Savings Bank.
C a p ita l, $30,000. S u r p l u s a n d U n d i­
v id e d
P r o f its ,
$28,133.19.
D e p o s its ,
$387,821.74.
J . T . C o n n ., P r e s ., W m . T . V o s s , V i c e P r e s ., G. E . K n a a c k , C a s h ., G. R . W h e e lo c k , B . L. L o re n z e n , A s s ’t C a s h ie r s .

N a t ’l

C a p i t a l , $ 5 0 ,0 0 0 . S u r p l u s , $ 1 0 ,0 0 0 . U n ­
d i v i d e d P r o f i t s , $ 8 5 ,0 0 0 . D e p o s i t s , $ 4 7 5 ,000.
F . C . J o h n s o n . P r e s ., B u r t o n
C a rr o t t . V ic e - P r e s ., B . A . W a lla c e , C a s h .,
A . J e n k in s o n , A s s ’t C a s h ., P . C . Y o c u m ,
A s s ’t C a s h .
S IO U X

C I T Y —

L o ca te d
C a p ita l,
G eo S. P
V ie e - P r e s .,
W . S m it h ,

L iv e

S to c k

N a t io n a l

B k .

a t S io u x C it y S t o c k Y a r d s .
$ 1 0 0 ,0 0 0 .
S u r p lu s ,
$ 1 0 0 ,0 0 9
a r k e r , P r e s .,
F .
L .
E a to n .
C . D . V a n
D y k e , C a s h ., A .
A s s ’t C a s h .

TOLEDO—Toledo Savings Bank.
C a p i t a l , $ 5 0 ,0 0 0 .
p o s i t s , $ 3 5 0 ,0 0 0 .

S u r p lu s ,

$ 2 5 ,0 0 0 .

D e ­

, r .w - C . W a l t e r s , P r e s . , J . P . W a l t e r s ,
Y i c e , " P r e s -'
J * K r e z e k , C a s h ., R . W .
A d a i r . A s s ’t C a s h .

WASHINGTON— National Bank.
T T ^ p l A a ^Ji
^ 0 5 0

M 0

* 1 0 0 ,0 0 0 .

S u r p lu s ,

P r o f lt s ’

$ 1 0 0 ,0 0 0 .

* 1 6 >000.

D e p o s it s ,

A
Y o u n &. P r e s .,
W m .
A .
2 ?
w * F - W ils o n , C a s h .,
M c C u lle y , A s s ’t C a s h .

C o o k ,
A . W .

WAUKEE— Waukee Savings Bank.
W .
R .
B e c k ,
so n ,
V ic e - P r e s .,
C a p i t a l . $ 10, 0 0 0 ,

P r e s .,
R o b t.
S te v e n ­
A .
A .
L e a ch y ,
C a sh .
D e p o s i t s . $ 6 0 ,0 0 0 .

WEBSTER CITY— First National Bank.
C a p it a l,
$ 1 0 0 ,0 0 0 .
J . C o v il, P r e s .,

W.

S u r p lu s ,
E . F .

$ 6 0 ,0 0 0 .

King, Vice-

p r « s -* W
C- P y le , C a s h ., E . E .
H . O . C u t le r . A s s ’t C a s h ie r s .

N EW T O N — F irst National Bank.
C a p it a l a n d S u rp lu s , $150,000.
D e­
p o s its , $725,000.
C. B e r g m a n , P r e s ., H . B . A llf re e ,
V ic e - P r e s ., O. F . E c k l u n d , C a s h ., L . A
R u s s e l l , A s s ’t C a sh .

B a n k .

rwjuivr u±u>—Rockford state Bank.

NEWTON— Jasper County Savings Bk.
«ft£n?nt a l V ?100’??°- . ^ r p l u s a n d P ro f lts ,
$65,000. D e p o s its , $725,000.
J . M. W o o d ro w . P r e s ., F . M. W o o d ro w ,
V ic e - P re s .. A E . H in d o rff, C a sh .

C o u n ty

M . M . R e y n o ld s . P r e s ., H . L . M o o re ,
V ic e - P r e s ., w a d e S p u r g in , C a s h ., T . R .
S w a n s o n , A s s 't C a sh .

$230,000. D e p o s its , $1,650,000.
H . M. C a r p e n t e r . P r e s ., W m . S tu h le r ,
V ic e - P r e s ., H . iS. R ic h a r d s o n , C a sh ., H .
M. C a r p e n t e r , J r ., a n d F . F . B e c k e r,
A s s ’t C a s h ie r s .

C a p ita l, $50,000. U n d iv id e d P r o f its ,
$20,000. D e p o s its , $430,000.
S. M. L e a c h , P r e s ., R o b t. L e a c h , C a sh .

G u th rie

C a p i t a l . $ 5 0 ,0 0 0 . S u r p l u s , $ 1 0 ,0 0 0 . U n ­
d i v i d e d P r o f i t s , $ 7 ,7 4 0 .
D e p o s i t s , $ 3 9 6 ,-

M aso n .

WINTHROP— Winthrop State Bank.
C a p
v id e d
J. B
P r e s .,

it a !,
$ 2 5 ,0 0 0 .
S u r p lu s
an d
U n d i­
P r o f i t s , $ 1 3 ,0 0 0 .
. R y a n , P r e s ., A . J . D u n la p , V ic e E . B r in t n a ll, C a s h .

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

T ow n

Bank

Capital

Cherokee....... FIRST NATIONAL . . .

Surplus &
Profits

Our Special Service

50,000 110,000.00 S T o w

Holstein....... HOLSTEIN SAVINGS

C r a et e ° s k e e

it 6 m S

60,000 90,000.00 T h e s u c c e s s o f t h i s
m e n t b y th e sa m e
s e r v a t iv e ,

Madrid........... MADRID STATE .......

o b lig in g

d ir e c t

to

th ls

—

b a n k -

P r °m p t

r e t u r n s -

b a n k
is d u e to i t s c o n t in u o u s m a n a g e ­
o f fic e r s f o r t w e n t y - n in e
y e a rs on co n ­
b u s in e s s p r in c ip le s .

25,000 17,000.00

Marshalltown. STATE B A N K ............. 100,000 100,000.00 S e n d

1

u s

y o u r

c o lle c t io n s

fo r

p ro m p t

an d

ca re fu l

a t t e n t io n

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

LEM M O N — F irst National Bank.

. C a p i t a l , $ 1 0 ,0 0 0 .
S u r p l u s , $ 2 ,5 0 0 .
U n ­
d i v i d e d P r o f i t s , $ 1 ,0 0 0 .
D e p o s i t s , $ 2 0 5 ,-

O. P .
B h is t u e n ,
V lc e - P r e s .j
C .
H .
M ögen. A sst. C a sh .


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

P r e s .,
L ie n ,

C .
P
C a s h .,

L ie n ,
G .
C.

C a p i t a l , $ 2 5 ,0 0 0 .
S u r p l u s , $ 7 ,5 0 0 . U n ­
d i v i d e d P r o f l t s , $ 3 ,2 0 0 .
D e p o s i t s , $ 3 0 0 ,-

,r ,c V ic e

D ; S m it h , P r e s .,
T .
C .
P r e s .. A . J . B e h r m a n n ,

8 h e rra a n ,
C a s h ie r.

August, 1916

THE

NORTHWESTERN

BANKER

The National Sank of the

The First N ational

REPUBLIC
O F

C H I C A G O

B ank of Chicago

continues to offer banks and bankers tbe
advantages or its Facilities, developed and
perfected by nearly tw enty-five years of
close personal relations w itb a constantly
growing list o f correspondents through­
out tbe world.

w e lc o m e s a n d a p p re c ia te s
th e a c c o u n ts of b a n k s a n d
b a n k e rs .
Its e x t e n s i v e
clientele, developed
d u r in g m o re t h a n fifty
y e a r s of c o n s i s t e n t ,
c o n s id e ra te s e r v i c e , i s
s p le n d id e n d o r s e m e n t of
th e a g re e a b le a n d s a tis­
fa c to ry re la tio n s m a in ­
ta in e d
w ith c o rre s p o n ­
d e n ts .

OFFICERS
JO H N A, L Y N C H , . . . President O. H. SW AN...............................Cashier
W . T . FEN TO N , , 1st Vice-President W M . B. LAVINIA. . . Asst. Cashier
R. M. M cKINN EY, 2nd Vice- President TH O S, D. ALLIN, . .
Asst. Cashier
JAMES M . H U R ST , 3rd Vice-President LOUIS J, M EAHL, . . Asst. Cashier

I

Capital and Surplus $20,000,000

JAM ES B. FO R G A N , Chairman of the Board
F. O. W E T M O R E , President
I

G. H. RAGSDALE, P r e sid e n t

EDWIN G. RAGSDALE, S e c r e ta r y

H. B . RAGSDALE, T reasu rer

IOWA LITHOGRAPHING
COMPANY
D E S M O I N E S .......................... I O W A
E stab lish ed 1856


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Federal Reserve Bank of St. Louis

59

60

THE

NORTHWESTERN

The Chase National Bank

BANKER

August, 1916

S tock Y ards N ational B ank

of the City of New York

o! South Omaha

57 B roadw ay
UNITED STATES DEPOSITORY

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

' $ 5,000,000
10,369,000
280,768,000

O F F IC E R S
A. B arto n H ep b u rn , C hairm an
A lbert H. W iggin, President.
S am u el H. M iller, V .-Pres.
Edw in A. Lee, Ass’t Cash.,
E d w ard R. T in k e r, V .-Pres.
W illiam E. P u rd y , Ass’t Cash.
C arl J . S chm idlapp, V ice-P resident
C has. D. S m ith , Ass’t Cash.
A lfred C. A ndrew s, Cash.
W illiam P . Holly, Ass’t Cash.
C has. C. S lade, Ass’t C ash.
G eorge H. S a y lo r, Ass’t Cash.
M. H adden H ow ell, Ass’t Cash.

D IR E C T O R S
H E N R Y W . CA N NON
JO H N J. M IT C H E L L '
A. B A R T O N H E P B U R N
GUY E. T R IP P
A L B E R T H . W IG G IN
JA M E S N. H I L L
G EO R G E F . B A K E R , JR .
D A N IE L C. JA C K L IN G
F R A N C IS L . H I N E
F R A N K A. S A Y L E S
C H A R L E S M. S C H W A B

If you want the best possible serv-.,
ice in connection with any busi­
ness you have at the South Omaha
Stock Yards, send it to us.

Our

location and facilities are
equalled.

un­

Capital and Surplus $1,125,000.00

WE RECEIVE ACCOUNTS OF
Banks, B ankers, Corporations, Firm s o r Individuals
on favorable te rm s, and shall be pleased to m eet o r
correspond w ith those w ho contem plate making
changes o r opening new accounts.

H. C. BOSTWICK, President
J. C FRENCH, Vice-President

J. S. KING, Ass’t to President

FORD E. HOVEY, Vice-President

H. C. MILLER, Assistant Cashier

J. B. OWEN, Cashier

F. J. ENERSON, Assistant Cashier

FOREIGN EXCHANGE DEPARTMENT

Drovers National Bank
OF CHICAGO

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

R e so u r c e s, E le v e n M illio n D o lla r s
Officers
OWEN T. REEVES, JR., President
MERRILL W. TILDEN, Vice-President
CHARLES FERNALD, Vice-President
GEORGE M. BENEDICT, Cashier
FREDERICK N. MERCER, Asst. Cashier
HARRY P. GATES, Asst. Cashier
DALE E. CHAMBERLIN, Asst. Cashier
GEORGE A. MALCOLM, Asst. Cashier


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Federal Reserve Bank of St. Louis

Directors
WM. A. TILDEN
L. B. PATTERSON

JOHN FLETCHER

AVERILL TILDEN

WM. C. CUMMINGS

GEO. M. BENEDICT
M. W. TILDEN

BRYAN G. TIGHE

OWEN T. REEVES, JR.