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HOW TO G E T P R O F IT A B L E D E P O S IT O R S By F. E. D A V IS Page 24 Tv _ p 19 m 1 DES M OINES, IO W A , A U G U S T, 1918 T W E N T Y -T H I R D Y E A R T O T A L N UM BER 372 llllllllllllllllll Northwestern National Lite Insurance Co. MINNEAPOLIS, MINN. JOHN T. BAXTER, President A PURELY MUTUAL, OLD-LINE, WESTERN COMPANY D irectors F. A. CHAM BERLAIN, Chairm’n First & Sec’ ty Nat. Bank È. W . DECKER, Pres. Northwestern National Bank C. T . JAFFRAY, Pres. First & Security Nat’l Bank T. B . JANNEY, Pres. Janney, Semple, Hill & Co. E. L. CARPENTER, Pres. Shevlin-Carpenter-Clarke Co. B. F. N ELSON, Pres. Hennepin Paper Co. A. A. CRANE, Vice-Pres. First & Security Nat’l Bank J. A. LATTA, Vice-Pres. Northwestern National Bank JOH N T . BAXTER, Pres. Northwestern Nat’l Life Ins. Co. HOTEL FONTENELLE = H anover N ational Bank OM AHA - NEBRASKA IO W A FIRST FARM MORTGAGE and T a x Free M u nicipal Bonds Denominations 4 $50, $100, $500, $1,000 OF THE CITY OF NEW YORK Nassau and Pine Streets Safety of principal combined with attractive earning capacity. Iowa leads all states in value of her live stock and farm crops. First state “ Over the Top” in Third Liberty Loan drlive. Iowa First Farm Mortgage and Municipal Bonds are acceptable .as collateral in all -financial circles. Their soundness is unquestionable. Send for free book, “ Iowa Investments.” h it W IL L I A 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 r e s . S A M U E L W O O L V E R T O N . . .V .-P r e s . JO S E P H B Y R N E .....................V .-P r e s . C H A S . H. H A M P T O N ........... V .-P r e s . H E N R Y P. T U R N B U L L ......... V .-P r e s . W M E . C A B L E , J R ........................Cashie J. N IE M A N N ...........................A sst. C ash. W IL L I A M D O N A L D ........... A sst. Cash. G E O R G E E. L E W I S ........... A sst. C ash. F o r e ig n D e p a r tm e n t W IL L I A M H. S U Y D A M ------M a n a g e r R O B E R T N E I L L E Y . .A s s t, M a n a g e r Established 1851 Capital $3,000,000 Surplus and Profits 17,000,000 Bankers are invited to make this hotel their home when visiting Omaha. Management—H. E. GREGORY BANKERS Mortgage Company Authorized Capital $2,000,000. DES MOINES, IOWA F . C. W a te r b u r y , P res. J. M. C a lla n d e r , V . P res. S. S. M e se r v e y , V . P res. H on . G. W . C la rk e , -Sec’ y. E STA B LISH E D 1870 FIRST NATIONAL BANK SIOUX CITY, IOWA IN THE UNITED STATES New Business Invited on the basis of SATISFACTORY SERVICE R e s o u r ce s O v er $3,000,000.00 FIRST NATIONAL BANK DAVENPORT, IOWA L J . YAGGY, Cashier https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A. F. DAWSON, President Capital Surplus $120,000. Our Facilities for Handling Bank Accounts Are, W e Believe, Unexcelled. W e Solicit Your Business. JOHN J. 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 1= 2 THE NORTHWESTERN BANKER August, 1918 ¿niiuiiiN iiiiH iiiiiiiiiiiiNiiiiiiiiiiH iiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiH iiiiiinniiiiiiiiiiiiniim iiiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiim iiiiiiiiiuw^ |T he A merican State Bank | I C A P I T A L , $200,000.00 | M . F . S H A F E R , President | W . E . S H A F E R , Vice-President 1 L . M . S W I N D L E R , Cashier O M A H A R O Y E. K A R L S , A ss’t Cashier | | [ O W A B a n k s desiring an | A a cco m m od a tin g Om aha | connection are invited to cor| respond with our officers. l \ /f A N A G E D by bankers of 1 ■*■*-*■ practical experience who | k n o w the requirem ents of | M iddle-W eit Bankers. I ?.lU lN lllliniH M IIIIIIIIII!IIU IIIH IIItlllllllH lim illllllllU IIIIII!M H IItinillH U IIIU IIIIIM IIIIIIH ]lllllllllllU IIIIII!IIIIIIIIIIIIM § 3llllllllllllt3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIII|[3IIIIIIIIIIIIC3IIIIIIIIIIIIC]IIIIIIIIIMIC3IIIIIIIIIIIIC2IIIIIIIIIIIICnillllllllllC3IIIIIIIIIIIIC]||IIIIIIIIIIC3IIIIIIIIIIIIC2llllllllllllt3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3l!IIIIIIIIIIC^ I THE FIRST N ATIO N AL B A N K ! | J | 5 | I | W A T E R L O O , IO W A Our Capital—$200,000.00 Our Surplus and Profits—$250,000.00 -----------------------------------------------------------------------------— A* P L A C E , V ice President J A S . B L A C K , V ic e P resid en t | O F F I C E R S ---------------------------------------------------------------------------------- F . J . E I G H M E Y , P resident F * p * H U R S T , A s s t . C a sh ier V . J . W I L S O N , A s s t . C a sh ie r We solicit your business on the most favorable terms consistent with safe and conservative banking. We pay interest on bank balances. | I = | I | ...................................................................................................................... ............................................................................................................................................................................................................... IIIIIi:n illllll!IIR 3lillllllllllcS D ependable service under all con d ition s has been offered by this bank through the 108 years o f its history. The Mechanics and Metals National Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OF THE C IT Y OF N E W Y O R K ESTABLISHED 1810 Deposits, June 29,1918, $191,000,000 August, 1918 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE NORTHWESTERN BANKER G. L. T R E M A IN F ir s t P re sid e n t I o w a B a n k e r s ’ A s s o c ia tio n . T h ir t y -o n e y e a r s a g o th e 2 6 th d a y o f J u ly , 1918, M r. G . L . T r e m a in , o f H u m b o ld t, th e n P re sid e n t o f th e P e o p le s B a n k o f H u m h o ld t, w h ic h b a n k h a s s in ce b e e n in c o rp o r a te d , a n d k n o w n a s th e P e o p le s S ta te B a n k , b e fo r e a) g r o u p o f a b o u t 70 I o w a h a n k e r s su m m o n e d in to se s s io n a t D e s M o in e s, b y n o tic e p u b lish e d in th e I o w a jS ta te R e g is t e r , n o w th e D e s M o in e s R e g is t e r , “ w a s c a lle d u p on to s ta te th e o b je c t o f th e m e e tin g , w h ic h w a s , in th e m a in , to o r g a n iz e a s ta te a ss o c ia tio n o f I o w a b a n k e r s f o r t h ^ b e tte r p r o te c tio n o f th e ir h a n k in g b u s in e s s .” H e w a s c h o se n C h a irm a n o f th e p e rm a n e n t o r g a n iz a tio n c o m m itte e , w h ic h , o n th e fo llo w i n g d a y , J u ly 27, 1887, p re se n te d a C o n s titu tio n an d a s e t o f B y -L a w s to th e m e e tin g , w h ic h w e re ad o p te d . T h u s th e I o w a B a n k e r s A s s o c ia tio n b e c a m e a r e a lity a n d M r. T r e m a in w a s s e le c te d a s its first P re s id e n t. H e s e r v e d f o r t w o a n n u a l te r m s . M r. T r e m a in is n o w in h is 84 th y e a r , an d r e c e n tly re tire d fr o m a c tiv e b a n k in g . A lt h o n o t in th e b e s t o f h e a lth , h is in te r e s ts in c u rren t a ffa ir s a re u n a b a te d . In c o m m e m o ra tio n o f h is lo n g y e a r s o f a c tiv e s e r v ic e a n d in te re s t in th e Io w a B a n k e r s A s s o c ia tio n , th e T h ir t y -S e c on d A n n u a l C o n v e n tio n o f th e I o w a B a n k e r s A s s o c ia tio n , h e ld a t D u b u q u e , on J u n e 19 an d 2 0 , la s t , ad o p te d th e f o llo w i n g R e s o lu tio n , w h ic h h a d b een p re p a re d b y a s p e c ia l c o m m it te e , c o m p o se d o f S im on C a sa d y , F . H . H e lls e ll an d J. K . D e m in g , a ll fo r m e r P r e s id e n ts , a p p o in te d b y M r. S. M . L e a c h , th e n P re s id e n t o f th e A s s o c ia t io n : “ C e n tu rie s a g o , a c la s s ic w r ite r w r o te , ‘T h e m e m o r y o f a w e ll-s p e n t li fe , a n d im a n y d eed s wTe ll d on e, fo r m a m o s t p le a s in g r e c o lle c tio n ,’ an d , W h e r e a s , a fo r m e r P re s id e n t o f th is a s s o c ia tio n , G e o rg e L . T r e m a in , o f H u m b o ld t, Io w a , w e a r e in fo rm e d , h a s re a c h e d th e n o b le a g e o f th r e e s c o re y e a r s a n d t w e n ty , a n d a s w e o w e to h im th e th o u g h t a n d in itia tiv e w h ic h fo r m e d th is o r g a n iz a t i o n ; R e s o lv e d , T h a t w e h e r e b y extendi t o h im ou r m o s t sin c e r e c o n g r a tu la tio n s on th e li fe liv e d an d th e y e a r s e n jo y e d b y h im , an d ou r h o p e fu l d e sire f o r a c o n tin u a tio n o f h a p p i n e ss.” N orthwestern B anker 709-710 C R O C K E R BU ILD ING , DES M OINES, I O W A T H E O LD E S T F IN A N C IA L JO U R N A L W E ST OF T H E M ISSISSIPPI R IV E R A N D T H E O N L Y ON E IN T H E W H IC H IS A M E M B E R OF T H E A U D IT BU REAU OF C IR C U L A T IO N S . A U G U S T , 1918 Publisher $2.00 per year, 20c a cop y. S TATE S Frank Armstrong Clifford De Puy Special Representative Charles Burke Care Northwestern Banker U N IT E D Minneapolis Office Frank S. Lewis 840 Lumber Exchange Bldg. Chicago Office ’ Herbert Armstrong 410 Advertising Bldg Editor New York Office H. C. Griffith 819 Brunswick Bldg St. Louis Office R. Fullerton Place 418 Merchants-Laclede Bldg Entered as second-class matter at the Des Moines post office to conform to thé postal laws; everything else pertaining to the journal being strictly F IR S T class. ■ ADVERTISING IN WAR TIME I I i ^Perhaps no shift due to war conditions is more interesting than the trend of events in the great field of advertising. “ The greatest fores in business” has. been employed to aid re cruiting, to raise money for the Red Cross and other war activities, to assist in the sale of Liberty Bonds, War Savings Stamps, etc., and to prepare the people for assuming the other burdens and responsibilities that must come to them. Through an advertising campaign di rected to the farmers of Minnesota, Montana, North and South Dakota, it is estimated offi cially that the flax acreage and production have doubled. This insures an adequate supply of linseed oil. Crop production in all lines has been stimulated. Farm loan bonds have been sold through advertising. The use of silos has been tremendously increased. Adver tising has been employed to help overcome the man shortage. It has played an important part in the introduction of labor-saving machines, releasing men for the army and for ship building or for other activities directly connected with winning the war. Every day finds some new use for advertising. The great truth is becoming more fully realized that people are ready to respond when they have the facts. Advertising furnishes the quickest, surest means of placing these vital facts in the hands of the people. I A LESSON FROM SCHWAB ftThe genius of Charles M. Schwab for getting things done is proverbial. Probably the most spectacular event in his career was the feat of launching eighty-nine vessels from the shipyards under his direction on the Fourth of July. Yet Mr. Schwab says: “ I have never seen a man who could do real work except under the stimulus of encouragement and en thusiasm, and the approval of the people for whom he is working.” Frequent words of ap preciation from the head of the bank or business house win loyalty all the way down the line, from junior officers to messengers. “ Changing employes is usually but changing faults,” says a business man of large experience. Selecting employes with care, training them thoroughly for their positions, then giving them additional responsibility as they can shoulder it, and showing full appreciation of good service develop capable juniors in record time. Every institution is measured by the men and women comprising its organization. The ability of executives is measured by the teamwork they secure. PERSONAL EFFICIENCY ffMost of us are least efficient personally. We permit little things to consume valuable hours day after day, crowding out the big things we intended to do. Self-analysis would produce dividends for most of us. Success is a spectacular thing, but it is built of commonplace stones, one at a time. Personal success is not often accidental. Generally it comes from ad herence to a carefully-made plan. Self-improvement is quite certain to follow from such nightly questions as: “ What have I done better than usual today? What new thing have I learned today? What new point of interest have I discovered in my work? What definite https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ! thing have I done to increase my circle of friends?” The man who “ has no time to read,” who is “ so busy” that he forgets engagements, who neglects opportunities to make new friend ships, is merely bustling instead of hustling. He is going by the ancient “rule of thumb,” has not learned the meaning of efficiency, and has sentenced himself to a life of mediocre accomplishment. ONE WAY TO FIGHT GERMANS fiThe banker with service to sell, the manufacturer or merchant with merchandise to sell— every man who has any reason for being in business—should keep right on advertising at this time. Men who are inclined to think otherwise should read carefully the following extract from the Berlin Lokal Anzeiger: “ Nothing is more acceptable to the German na tion than to note that the North Americans have abandoned advertising their goods in vir tually all of the foreign markets. In the United States itself there is not a paper which has not suffered a loss in its advertising lines, and that despite the fact that the last year showed an increase in the millionaire class of 973 individuals. In other words, the war has terror ized the American nation. But not the Germans, for a perusal of their periodicals will show that manufacturers still advertise, even if they have not the goods to deliver, but with the idea of keeping their names before the public.” COMPENSATION ftSince the declaration of war against Germany, the bankers of America have rendered a service to the government second to none. They have given unselfishly of their time and talent. They have encouraged investment in Liberty Bonds and War Savings Stamps. They have encouraged gifts to all recognized war activities. They have handled without charge, details of war financing without measure. But certain compensations are already apparent. Thousands of bankers, working on war committees, have come in closer contact with their customers. They have received fresh inspiration for community activity. They have “ lifted themselves out of the rut” in very many instances. Bankers have become a new force in community betterment and civic progress. [ ! WOMEN IN BUSINESS ^[Thousands of women have entered business in recent months, replacing men who have gone to the front. The process will be repeated in thousands of other instances, if the period of the war is extended. A transition is in progress which far-sighted bankers and business men recognize as significant. The society woman is thinking of practical things. The house keeper has been taken outside the walls of her little world. Business women and women in industries are doing things they never did before. All are working with heads and hands for others, in the great cause that is bringing the men and women of America closer together. Bankers and business men will benefit through shaping their sales appeal to meet the chang ing conditions. Consideration of the feminine viewpoint is increasingly important. “ A CASHIER’ S CHECK” For $2.00 is all that is required to_se cure the monthly visits o f the Northwestern Banker for an entire year. Each issue contains from 56 to 64 pages o f mighty inter-' esting matter pertaining to banks and banking interests in the territory covered by the magazine. “ OUR CORRESPONDENTS” E v e r y b a n k in the Northwest is invited to a place on this list. Send us items o f local interest, tell us about your bank and its growth, prospects, etc., also any other financial news of interest to bankers in your section. W e are always glad to hear from our friends. ‘ ‘SIGHT DRAFTS” W e always carry a large “ Re serve” o f good will and additional service, and will promptly honor drafts made upon same by any bank. This department is for your special benefit. It may be made o f very great benefit to your bank. D o not fail to avail yourself o f its privileges/ “ A CLEARING HOUSE” Our columns are a clear ing house for all our readers. Express your views on any I ! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis topic o f interest to the banking fraternity and submit same for publi cation. You do not have to agree with us, pr with anyone else. W e learn things by an interchange o f ideas, and people with whom we disagree often prove valuable teachers. W e shall be glad to hear from you. “ NO PROTEST” Has ever been offered to the state ment that the field covered by the Northwestern Banker is the money-producing section of the American continent, rich in hogs, cattle, corn, etc., and dotted with thou sands o f prosperous hanks, all doing a good business, and the majority o f them are readers o f “ The North western.” “ SURPLUS AND UNDIVIDED PROFITS” Increase very rapidly with those banks, whose advertisements appear regularly in the columns o f this magazine. Full information as to rates and our special service will be promptly furnished on application. Your business solicited and appreciated. The “ Banker” has been twenty-three years in its present field. The Northwestern Banker $2.00 Per A nnum ’ DES M OIN ES, I O W A , A U G U S T , 1918 20 Cents Per Copy W ar Is Teaching People to Save B y G eo. T . M cC andless This article by Mr. McCandless calls renewed attention I remember a very good Banks are old institu to the importance of teaching thrift in youth and of giving banker—now gone to the tions ; the banking busi children an opportunity to acquire experience in handling great beyond—who was ness has existed in some money. well known as being very form for many hundreds of years. People in all walks of life come in contact close and careful in spending money and who amassed with banks at some time during their lives and today great wealth before his death. This man made it a the banks are filling a need that no other institution or practice to leave a well-filled pocketbook in the drawer of the sitting room table and his wife and children had men could fill. Of course, the banking business has not stood still. access to this supply of funds. As a result every one of Progress is to it a watchword and as new necessities the children grew up to be a spendthrift with no idea arose the crises have been met and often in a most of the value of money. Did it take the father’s money long to dissolve after his death? Every one of, these unselfish manner. Children are sent on errands to the stores and soon children is today working for a living and not because learn about marketing and prices through this experi they want to but because they have to, and are un ence and in hearing the discussions of their elders in learning rapidly the lessons their father taught them. As the Austrian minister says, ‘‘There is a limit,” regard to prices and variety. and it proved true in the case But education along bank mentioned. ing lines and methods of busi A young man friend of mine “ I think every child should be early taught ness has been sadly neglected; the essentials of business practice. As soon as felt called upon to enter the I speak with reference to par the little tot is able to walk, a savings account teaching profession. He had ents making their children ac should be opened for him at some good bank worked his way through col quainted with the methods of and he should be sent to the bank with his pass lege and knew what money book to make deposits out of his allowance or transacting business at a bank. earnings. Every child should be put on an al would buy and through many I think every child should lowance basis at an early age. How can we hard knocks had succeeded in be early taught the essentials expect our children to know anything about getting his degree from a firstof business practice. As soon money unless we allow them to handle it?” class institution of learning. as the little tot is able to walk This young man had some a savings account should be opened for him at some good bank and he should be ideas of his own and used the textbook merely as a sent to the bank with his passbook to make his deposits guide. His instruction to his pupils consisted of in formation not found in the books to a large extent. out of his allowance or earnings. When the subject of money was reached his ques In this connection I want to say that every child should be put on an allowance basis at a very early age. tions to his pupils revealed to him a startling amount How can we expect our children to know anything of ignorance on their parts of ordinary business prac tice, and this through no fault of theirs. So he started about money unless we allow them to handle it? Estimate the necessary expenses of a child and then a little bank right there in the class room, got different give him enough each month to cover this outlay and fo'rms from the local bank and thoroughly explained perhaps a little bit more and then let him spend as he to the pupils the proper forms to use and what they pleases what is left over. In this way he will soon were for. As a, result these pupils did not have to un learn where he may get the most for his money and learn the theories taught them when they got out into the training in the actual handling of money will be the world but found familiar things to deal with. This worth much to him in later years when he will be young man will go far in the educational world. He is now serving Uncle Sam. When he was about to obliged to gauge his expenses by his income. Father sets son up in some business if he is able leave for the cantonment i asked him if he did not and turns him loose. Unless son has had some prac think it would be a good plan to enter one of the of tical experience in the handling of money and knowl ficers’ training schools. He replied, “ No, sir, I am edge of values he is apt to commit many mistakes going in at the bottom and I am going to be the best which will prove more or less disastrous financially darned private in the whole company and if my work shows merit it will be recognized and I want to get and otherwise. Many a young man has gone into business with the to the top by starting at the bottom and learning all idea that the receipts in the cash drawer are spending the different steps thoroughly as I go up.” I think I am money and does not realize that only a part of this safe in predicting that this young man will go far in money is really his. It is an unkindness to a child to army circles. That is the great trouble with us Americans—we turn him loose under such circumstances. That is why office boys and newsboys make good business men— want to play sonatas and nocturnes before we learn the practical experience in dealing with the public and five finger exercises at the beginning of the book. (Continued on page 15.) handling money. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis August, 1918 THE NORTHWESTERN BANKER 7 Sacrifice the Price of Victory B y Capt. Frank Edwards This address by Captain Edwards, of the Royal Fusiliers, I wonder sometimes that an unnecessarily pro before the Minnesota State Bankers Convention, aroused why it was that our gov longed war would be a dis tremendous enthusiasm and in publishing liberal extracts ernment selected me tor aster. You know it well, from it we feel that we are privileged to serve our readers this mission to America. and at the same time promote patriotism. none better than you. A I may say in a word why man said to me the other I am here. Your government, the government of the day: “ It doesn’t matter to us in America how long this United States, approached the British war office and war lasts, not at all.” He said: “ If we can’t lick them the British government with a request asking that a this year, we will lick them next year; if we can’t lick number of officers who had spent some years in the them then we will lick them the year after; if we can’t front lines in France might be sent over to this coun lick them then we will go on until we do.” It said very try to, tell the people of the United States something of much for his spirit but it said very little for his com the actual condition of things now obtaining at the mon sense. It does matter how long this war lasts; front, and to bring home, as far as it is humanly pos have you counted the cost of it, have you counted the sible, to bring home something of the pathos and real cost of every added month and every added year? You ity and tragedy of war. I have sometimes wondered know of the billions it has cost this year and you know why our government sent me, possibly the explanation something about the increasing ratio in the cost of each may be this. I served two and a half years in the South succeeding year. It does matter how long it lasts, but, African war and upon one occasion I managed to get a after all, men, I am not thinking, when I speak of Boer bullet in my jaw, and perhaps the government the cost, I am not thinking of billions— I am think thought that a man whose jaw could recover from the ing of your boys. I am not thinking of money, Amer shattering effects of the Boer war might be proof ica, I am thinking of men. I am thinking of my against the reaction of such a jaw-breaking job as the own land and, through the experience of my own land, one now assigned to me. i I am thinking of your land; Now, I am telling you this, I am counting the cost, not ladies and gentlemen, for one in money but in the blood of “You sing very often ‘Keep the Home Fires specific reason and that is that men, and the tears of women Burning,’ but I am sure you think again and I want every man and every and orphaned little children again while singing that it is not you that keep woman distinctly to under and desolated homes. Oh, men the home fires burning. Remember your home stand that if I appeal for fires are burning today because myriad home and women, it does matter fires in another nation have been put out. Your sacrifice—and I come here to how long this war lasts, and it homes are free through the sacrifice of other do nothing less—-I am only is the bounden duty of every homes in their defense. Your home fires are asking every man and every man here to do his utmost' as burning in the shelter of those front lines in woman to do for their part France, the frontier of your country is not your a patriot, not only to gain the own coast, it is this trench carved across the what I in some small degree ultimate victory, which I be fields of France.” have tried to do for my lieve today is inevitable, but to part. I am not asking any gain that victory at the earliest body to do anything that I possible hour. have not in the first place, in some small way, tried to I left France on the 17th of April, in the middle or, do myself. And you know, the call for sacrifice is com rather, the latter part of that terrific drive at Cambrai. ing very near. The call for sacrifice is sounding clearer The first two weeks I spent in Iowa arid I was in a and louder and nearer every day. Service, in the past, town in the south of the state of Iowa, and I saw some ladies and gentlemen, has been enough; service hence boys going away as you say, on draft. The whole town forth will not be sufficient, sacrifice is needed. was filled with enthusiasm and great excitement pre You know this year, 1918, it is going to be a great vailed. Those boys, twenty of them, were going away year, a critical, a thrilling year for the world. The man to the camp to be trained; and when I saw the en I stand most in fear of today is not the man in the thusiasm and the excitement and the partings, I enemy line but the man behind our own lines; men and thought of the drafted men I had taken—we call our women of America, the man I am most afraid of today reinforcements drafts, I will call them reinforcements, and the man most of the men in the line are afraid of to that I had taken. During the Cambrai fight I came to day is the optimist, the blind and shallow optimist, the England three times in ten days, and once I had to man who says that because America is “ in,” with all her take back 2,000 men to stop the breach. I marched resources, everything is all right. The man who says those 2,000 men through one of our southern ports on that because of this disaster that befalls the enemy, or a Sunday morning. The people were standing along this event, or that incident or the other, everything is all the streets, there were thousands of them there, but right, there is no need for personal sacrifice or self-de as I marched those men to the boat I marched silent nial or service on his part at all—that is the man I am men through silent streets, the street was as silent as afraid of. you are. There were 2,000 men going over, but Now, don’t misunderstand me. When I speak of dis they were going there to die. They knew it, and aster I am not thinking of defeat, ladies and gentlemen others knew i t ; and I remember seeing an old gray • —-thank God, Mr. Chairman—and here this morning as headed man with a gray suit and a black band on his a man from the line I have an unconquerable confidence arm that told its own story, raising his hat reverently to in the ultimate triumph of the Allied cause. But there the lads as they went by, and the women standing there are other forms of disaster than defeat. You know (Continued on page 16.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE NORTHWESTERN BANKER August, 1918 Manfully Playing the Game B y S. L. Frazier Mr. Frazier sounds a powerful note of warning against Americans being caught by insidious German propaganda — a warning that every one of us, as a good citizen, should most carefully heed. ing our praises, they were When w a r w a s de handing out bribes, right clared and the government and left, and seeking to c a l l e d the upstanding involve us in a war with young men of the country to arms, the Hun propagandist got busy with the Mexico and Japan, plotting against our government “ M OTHERS” in an effort to hinder conscription, by and furnishing the money and the “ scabs” to blow up picturing sinking ships, the utter impossibility of the bridges, burn munition factories, foment strikes, sink POOR D EAR BOYS reaching France, and the cer passenger ships, wreck trains, and organize “ Hun” tainty of their being “ eaten alive” by the trained and sympathizers and alien enemies in a nation-wide skilled soldiers of the kaiser. They made great pre scheme to scuttle the good ship of state— and to make tense of patriotism—they were good American citizens the perfidy complete, so complete that no other nation —they believed in fighting when we were attacked— could ever hope to distinguish itself in that line, the but what a shame to send our poor boys over there to dirty skunk with the withered arm (because of which fight England’s battles; and so they wrung their hands, he curses his mother every day of his life) was drink set up a wail of woe, uttered a cry of despair, shed ing toasts to our ambassador, James W . Gerard, and briny tears on the imaginary graves of some millions to America and the president—a piece of treachery o f splendid American lads, and when they had the and contemptible littleness and unadulterated cussed anxious mothers sufficiently “ gassed,” they sallied ness and low-down dealing and unconscionable in forth in search of other mothers, where the same tac famy such as history nowhere records. However, we caught them with the goods on, and tics were employed. They even damned the kaiser and proclaimed the “ Boche” a bloody butcher, a mur dear old “ Uncle Sam” has peeled off his coat and is derer of old men and women, and a baby killer in order going to give Prussian militarism the “ solar plexus” [about 1920. There are a million “ Sammies” over there to terrorize and frighten the American mother. now, and millions more get The philosophy of despair ting ready, and we’re going to had its effect on the thought clean up the whole rotten less and the timid, but, hap “ Beware of enemy, propaganda. Many agents b u n c h o f Hohenzollerns, pily, this is not Russia and of the Kaiser are cunning, and subtle, and clean up the “ Hun” hordes, clever, and we must be wise as serpents in deal you can’t fool the American ing with the yellow rattlesnakes—these vipers, beat Germany to her knees people for long. The kaiser wolves in sheeps’ clothing, camouflagers, pre and beat her swords into plow may be pretty smooth, but he tenders, false friends, pacifists, slackers, shares and her bayonets into is altogether too stupid to put traitors, spies, bum-patriots, copperheads, pruning hooks. W e are over whose business it is to deceive you and me, America out of business with hinder the government in the prosecution of the there to win the war, and it his lying, spying, plotting, war and shoot our soldier boys from the rear.” doesn’t m a t t e r whether it bombing, burning, and villain takes one year or ten, united ous propaganda. He can ride America has decided that it is his wooden hobby horse rough shod over the prostrate bodies of his deluded subjects better to sacrifice the last dollar and the last man rath and make them like it, but the dirty dog who sent his er than submit to the rule of a nation that has lost its mother to her grave with a broken heart can’t come soul, its honor, its good name, its conscience, its morals any of his Bobby-Make-Believe camouflage on us and and its spirituality. W e are going over there to win get away with it. America could not believe it possi this war and we’ll stay on the job, if necessary, until ble for any nation on earth to be guilty of the unspeak hell freezes over and skate home on the ice, and the able crimes committed with unblushing effrontery by old kaiser may as well put that in his pipe and smoke the Hohenzollern outfit of pirates and cut throats. it. America is a giant, the greatest giant in the world, America did not dream that any people could be so good natured, patient, forbearing, peaceable-r-but tread lost to all sense of honor and manhood and common on his toes once too often, crowd him to the wall, dare decency— and so we listened to the siren song of the him to fight, rouse his ire, stir his fighting blood, and he-devils and the she-devils from Potsdam—we took he can lick Germany single-handed, and you “ Hun” the word of the “ Bloody Butcher of Berlin”—we ac sympathizers ought to know it. One hundred and ten cepted at face value the twice-told tales of the accred million people who think for themselves— 10,000,000 ited ambassadors, consuls and authorized spokesmen fearless soldiers, with nimble minds, with initiative, of his Satanic Majesty, only to learn, later, that the with an individuality and a personality unknown to kaiser and his weasel-eyed bunch of official rats. are the machine-made soldiers of the kaiser—resources the biggest set of rascals, cheerful liars, hypocritical amounting to $254,000,000,000.00—and once we “ get shysters and diplomatic degenerates the world has going,” what will become of the super-men ( ?) and the ever produced. While pretending friendship they sunk invincible (?) line and the unbeatable (?) army of pi the Lusitania. While being entertained in our homes rates, head hunters and baby killers—the efficient ravthey backed us into a corner and began throwing ishers, mutilaters and murderers, who ought to pink butcher knives at us. While accepting our hospital so deep in the liquid fires of hell the bubbles would ity they were drowning our women and children. While never cease to come up? What will become of the giving us a friendly greeting with one hand they were “ horrible Hun” when our boys get in the game with preparing to stab us in the back with the other. While both feet? Why, they are bringing in Boches for (Continued on page 42.) von Bernstorff and his pack of hell-hounds were sound https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis August, 1918 THE NORTHWESTERN BANKER 9 Agencies in Rural W elfare B y C. A . Goss In this article Mr. Goss, Associate Editor of Successful The agricultural exten in the union. One of the Farming, Des Moines, Iowa, Shows What the Farm Press, sion service, the farm pa biggest aids given the Agricultural College and Banks Are Doing for the Farmer. pers and the local banks club movement was by a are, revolutionizing the farm paper which volun farming industry. Never before have rural people teered to loan money to any farm boy or girl for the placed the trust in these agencies which they are now purpose of getting a start in garden crops, poultry or holding. War conditions are arousing the people to live stock. In Oklahoma alone, money was loaned a new duty and a new willingness to learn, and these for the purchase of sufficient seed to plant nearly 7,000 same conditions are opening the way to new and un acres to wheat, which meant over 150,000 bushels limited fields of service on the part of the farmers’ added to this year’s crop. press, the farmers’ college and the farmers’ banks. Every department of the national government rec It is surprising what confidence is placed in these ognizes the vital importance of the state colleges and agencies. In many cases this confidence has become farm press in carrying on the necessary war projects. so great that the expressions, “ My banker says so,” “ I Twice President Wilson has called together at Wash saw it‘ in my farm paper, therefore I know it is so,” ington paper editors to assist him in some great un are common ones. And yet, when one stops to con dertaking. With many country people their farm sider the service these same forces are rendering to the paper is the only connection they have with things of farmer it is not surprising, but the surprise conies in the outside world. Upon them depended the molding the knowledge that not every farmer in the U. S. is of rural opinion toward food conservation, the Lib taking advantage of them. erty Loan, Y. M. C. A., Red Cross and every other A few days ago I stood in the office of the county war measure. The farm papers were depended on to agent of a wealthy Minnesota county. A farmer came advise the farmers of the establishment and location in and greeted the agent by saying, “ You saved me of government farm labor bureaus, the workings of $75 clear money on my bull. I would have sold him the draft, and the importance of increased production. for beef prices, but your pedi The success of the income tax gree made him bring more.” reports was due largely to the That county agent keeps the help which the local bankers “While the farm press and agricultural col pedigree of every pure-bred and the farm papers gave in lege are helping from a distance, the local animal in ¿he county, a duty solving its difficulties. Many banker is the ‘man on the job.’ His influence the farmer would not take kept employees whose special in the community is unlimited. He knows time to do, although every more about the farmer's business than any <ffity was to assist their one; oftentimes he is the legal adviser, real one knows pedigreed stock farmer constituency with such estate agency, and business secretary as well brings more money. A few problems. as banker. More than any other person in the years ago that county was a The boys’ working reserve, community, he is looked up to for counsel and wheat country. The bankers advice.” with its numbers reaching to first noticed the decreasing tens of thousands, is a child fertility in the bank accounts, of the state agricultural col and loaned money on easy leges. Under their direction, terms for live stock- An advisor was obtained from these boys below draft age are learning to help the the state college, and today it is the richest county of farmers save the food supply. In the Hood river val its size in the state. Five out of every six farmers ley they saved the berry crop when adverse condi are dairymen. Through the press it has gained a rep tions and labor shortage were threatening it ; in Penn utation as a pure-bred dairy center, and the demands sylvania they picked last year’s fruit crop and har for stock at fancy prices cannot be filled. Last year vested the potatoes; in fact, in practically every state four million pounds of butter were made and mar they are almost a godsend to work-swamped farmers. keted by their twenty-five co-operative creameries. These are only a few things the banks, agricultural The farmers of that county owe their present prosper colleges and farm papers are doing for their rural con ity to their local bankers, their county agent, and the stituency. I might go ahead and tell how they in farm press. creased the silo population of Indiana by over 6,000 Last year more than $10,000,000 worth of food prod in one year and other states have taken it up so indi ucts were produced by 2,400,000 boys and girls in the cations are the number of silos in the entire country Junior Clubs of the country. Quite aside from the will be doubled. Only one of the little things which immediate meaning of this nation-wide effort it will could be mentioned would be how one farm paper in undoubtedly develop a tremendous interest in agri its own community increased the consumption of culture in the ranks of the rising generation. But who dairy products over 20 per cent by an educational started the movement? The bankers of southern Illi campaign on their food value. Now practically every nois were responsible for the great impetus given the every large city has tried the same plan. A national dairy calf projects. They saw1 that the farmers of dairy educational movement is on and every farmer southern Illinois needed stock to keep up future pro who milks a cow will be benefited. ductiveness and they started the influx by loaning But while the farm press and agricultural college money to the boys and girls with which to buy calves. are helping from a distance, the local banker is the The result is that “ Egypt” is one of the leading dairy “ man on the job.” His influence in the community is communities today. The idea spread into every state (Continued on page 18.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE 10 NORTHWESTERN BANKER August, 1918 Prepare N o w for Days of Peace B y L ew is E. Pierson Mr. Pierson is chairman of the board of the Irving Na graphical boundaries. W e Preparedness for peace tional Bank, New York. His advice to the National Asso have learned that our fu in these days of war is as ciation of Credit Men is of particular interest to the bank ture must be a world fu lacking in official circles ers of the Northwest at this time. ture, while world trade, as was preparedness for world connection, world problems, and hence world war in the days of peace. New financial perils will arise should peace come difficulties appear definitely included in what the fu unexpectedly. With the world entering a new busi ture holds for us. ness and industrial era, and all precedents upset, the The powder interests, the oil men, the steel indus United States is just “ drifting:” More powerful and tries, the chemical people, the bankers, and the Chicago wealthy than ever before, the nation is on the brink of packers have written marvelous chapters in history in the last year, burying differences and working whole a precipice covered with flowers. Business men should retain the grip they have taken heartedly to win the war. Washington has at last upon governmental affairs as a result of the war. If become populated with big business men, called there business competition is to be possible with our present to put the war on a business basis, and while not yet on a twenty-four hour basis, the strides taken have allies after the war, plans must be laid now. American business men appear to lack, so far, the been great ones. ability to see themselves in the “ larger world picture,” Should Take Helm. and having lived and traded until recently in domestic terms, lack a vision of the world-wide competition If these men are strong, big, and patriotic enough to do these things voluntarily, are not these types strong which they must meet when peace is declared. W e enjoyed, or perhaps suffered, from what we enough and safe enough to exercise a dominant in called our splendid isolation. W e assumed that the fluence in the operations of the government itself? experiences of other countries meant little to us, be Should not the power and vision they represent be cause of differences, real or imagined, between their made more fully available for the direct purpose of the conditions of life and business and our own. nation in government? Should they be called for na W e are coming to see that our former splendid isola tional duty or be allowed to participate in national tion from the world, instead of being “ splendid” was service only when the life of the nation is in danger? rather “ stupid,” and that even if our domestic interests Should the power of regulation and discipline over all are to be protected we must adjust our vision to a of their properties be left to other types of men world horizon instead of to one which marks our geo who possess only a small part of the business vision iPlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllM IOWA BANKING IN STITUTIO NS. 10 12 3 3 4 5 6 7 8 9 10 11 9 8 11 12 9 6 9 7 6 1 3 5 2 99 16 2 34 i i 2 1 4) d d o o HU 5 2 2 1 go 1 1 2 i i 4 i i 1 1 4 13 5 • s -a ■ K. ® h P '0 03 0)^0 0) GO bo d P cd CG•0_8 ÓM Z o * O O oi £CÛ 4 i 3 42 24 25 5 34 47 9 6 27 12 7 192 225 147 141 204 276 185 126 103 129 100 206 233 164 148 204 276 194 126 113 132 100 28 238 1,828 1,89.6 O cd £ pû o cd ÏCQ Zco 4 8 4 2 20 5 2 1 3 1 40 58 38 22 44 48 30 16 24 19 11 44 48 32 53 35 46 35 10 23 17 19 76 67 66 89 131 115 90 39 83 60 2 2 2 4 5 4 50 3* 350 362 918 * à 102 1 GQ GQg« u d <DO rû , B anks G rou p s o w d o O 9 'd go bo <».d ft ss . P r iv a te nks 4 7 6 2 7 3 1 1 2 1 i 2 CÖ 'd *d <D d d . S ta te nks 0» G J l md ^ M <1>-, g fc i Oä 3 a oQ Ö o . N a t io n a l nks w B a n k s O rg. d er la . L a w s (Hg pli£ as N o. T r u s t u p a n ie s ZB iv . B a n k s ¡o r p o r a t e d o & A d O u 0 . C o u n tie s E ach G rou p. Following are the latest statistics relating to Iowa hanking institutions, as compiled June 1, 1918, by Frank Warner, secretary, Iowa Bankers Association. SSfO 53 1,308- -State, Savings Banks and Trust Companies in Iowa, June 1, 1918. 1,896- -Total number banking institutions in Iowa, June 1, 1918. 1,828- -Number of active members in Association, less all those discontinuing business and consolidating during past year. 44- -Number of associate members in this Association. 1,881- -Total membership o f Iowa Bankers Association, June 1, 1918. *_ -Associate members. i **J -Includes all institutions carrying in their title, words, “Trust and Savings Bank.” -Those whose titles designate them as strictly “Trust Companies.” Milllllllllllllllllillilllllllllillllllllllilllllllllllllllillllllll^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis August, 1918 THE NORTHWESTERN and power of execution so conspicuously shown by these proven executives? How shall we stand with the nations of the world, with our allies, who, when peace has. been declared, will be our-competitors? To what extent may we count upon them in any plan of cooperation we may then suggest and what are we doing to develop institutions which will protect our world interests regardless of what attitude may be assumed by any of these nations, friends, or foes? Down in Washington we are told that practically nothing is being done. American business men must realize that this is their war as well as it is the war of our soldiers. A NEW TRUST COMPANY FOR DES MOINES. The Fidelity Trust Company is a new bank at Des Moines, with proposed capital of $1,000,000.00 and sur plus of $250,000.00. The officers and directors have provided that the business may begin with a paid-up capital of $100,000.00 or any multiple thereof, and feel that there exists in Des Moines an opportunity for an institution of this kind, properly and conservatively managed. This institution will add one more to the seventeen banks and trust companies in Des Moines, with their combined capital and undivided profits of $7,000,000.00, combined deposits of approximately $80,000,000.00, and loans aggregating $56,000,000.00. The fact that the per capita wealth of Des Moines is larger than any other city of the same size in the United States, recent banking consolidations and the city’s rapid increase in population are among the rea sons for the organization of the Fidelity Trust Com pany, two of whose directors are also directors of the Peoples Savings Bank. This new institution is shown to be free from un necessary and undesirable promotion features. The officers receive neither salary nor compensation for services rendered during the organization period. Those now acting as directors in the organization of this com pany are: H. C. Hargrove, president, prominent breeder of fine-bred Holstein cattle, president Des Moines Silo Company. F. S. Sprague, vice president, president Standard Life Insurance Company. W . C. Jaeger, vice president, president Jaeger Manu facturing Company. M. L. Sheuerman, treasurer, vice president Sheuerman Woolen Mills, director Peoples Savings Bank. L. B. Kirkpatrick, president Boston Market Com pany, director Grocers’ Wholesale Co. E. A. Slininger, assistant treasurer, cashier and di rector of Peoples Savings Bank. E. L. Lloyd, secretary, president Consumers Coal Company, vice president Lloyd Hotel Company. W . B. Hanes, formerly vice president American Life Insurance Company. Dr. R. P. Parriott, builder and owner Parriott Apart ments. Charles M. Domback, counsellor, Domback, Granger & Engleman, lawyers. F. L. Miner, president Bankers Accident Insurance Company, vice president Iowa National Fire Insurance Company. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 BANKER SELECTING LIQUID LOANS! In selecting loans in til ese unusual times, bankers give preference to secured, loans --if convinced that the security offered is of liquid character and readily converted into cash. L IV E S T O C K L O A N S , carefully selected, and supervised by an experi enced organization familiar with the live stock trade, are loans which are liquidated by the sale of the security, to a much greater extent than any other class loans. Th ey are real of Q U IC K A S S E T S !” There is no inflation in such loans, and being “ commodity loans,” a preference is shown them by the Federal Reserve Banks. THE G U A R A N T Y CATTLE L O A N COMPANY STOCK YARDS STATION K A N S A S C IT Y specializes in cattle loans— it has thorough organization, experienced management, strong connections. D IR E C T O R S : J. C. S W I F T , P re sid e n t SN ELSO N C H E S N E Y S w ift & H e n r y C o, V ic e P re sid e n t K a n s a s C ity K a n s a s C ity G E O R G E E . R IC K E R , T reasu rer S m ith & R ic k e r C a ttle L o a n s K a n s a s C ity G. M . S M IT H P re sid e n t C o m m o n w e a lth N a tio n a l B a n k K a n s a s C ity BARTLETT ARKELL P re s id e n t B e e c h n u t P ack in g' Co. C a n a jo h a rie , N . Y . L o a n s are o ffe r e d at c u r r e n t m a rk et rates, an d bear e n d o r s e m e n t of t h e Company. Correspondence Invited 12 THE NORTHWESTERN BANKER August, 1918 Personal Paragraphs Frank B. Yetter, cashier of the Iowa National Bank, Davenport, Iowa, gives his excellent statement of June 29th a patriotic touch by including the following quota tion : “ Off with the hat as the flag goes by, Let the heart have its say; You’re man enough for a tear in your eye, That you will not wipe away. “ Off with the hat as the flag goes b y ; Uncover the youngster’s head; Teach him to hold it holy and high, For the sake of its sacred dead.” .. . . . $------;— $----------- :? William Ontjes, president of the Sioux Falls National Bank, Sioux Falls, S. D., is being congratulated upon the excellent statement of his bank for June 29th, showing deposits of $4,322,827.77. This is the largest bank in South Dakota and its growth has been largely due to the aggressive policies of Mr. Ontjes. $------------$----------- $ John W . Foster, chairman of the publicity commit tee, Guthrie County Bankers Association, wrote the copy for the splendid letter to depositors published elsewhere in this issue. $ -----------$— -------- $ . , Chas. H. McNider, of Mason City, while in Des Moines attending the republican state convention, re ceived from Major H. H. Polk a brass model repro duction of the French 75 gun, which was given his son, Lieut. H. W . McNider, at the officers’ training school in France. With the gun was a parchment signed by all the officers of the school, expressing their apprecia tion of Lieut. McNider as an officer, a gentleman and instructor. Lieut. McNider is now regimental adjutant of the Ninth Infantry. W . R. Finlayson, cashier of the Villisca National Bank, spoke before the Montgomery County Bankers Association at Red Oak, Iowa, on “ Leaks in Banking.” The talk was so good that the association passed a resolution requesting its publication in The North western Banker. . $--------- — $------- r --------$ Carl J. Schmidlapp, vice president of the Chase Na tional Bank, New York, has joined the colors. D. C. Jackling, a director of the Chase National, is in charge of construction of two immense smokeless powder plants for the government at Nashville and Charleston, Col. Guy E. Tripp, another Chase National director, is chief of the production division of the ordnance de partment. . this ban k are always at the im mediate service o f its customers https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -------------- $ $----------- $------------$ . $------------$------r —$ L. T. Banks is now representing the Northwestern National Bank, of Minneapolis, in North Dakota with headquarters at Bismarck. Roger Hume and E. C. Nelson represent this bank in the states of Montana and South Dakota. T he o f f ic e rs o f $------------ — $— H. Li. Tompkins was appointed an assistant manager of the foreign department of the Guaranty Trust Com pany, of New York, on July 15th. Mr. Tompkins be gan his banking experience as a junior clerk in the West Side Bank, in New York City, 22 years ago, re maining with that institution for 13 years. In 1909, he became an examiner for the New York state banking department under Mr. Williams, the then superintend ent of banks. During the last six or seven years of his activities in the New York banking department Mr. Tompkins specialized in foreign exchange examination. $------------$—--------- $ Fred Brown has been appointed chief national bank examiner for the Ninth Federal Reserve District, with headquarters at Minneapolis. Mr. Brown is a native of Colorado and was appointed a national bank ex aminer December 1, 1911. Prior to his appointment he had seventeen years banking experience in Idaho and since January 1, 1918, he has been acting national bank examiner for the Ninth District. G. A. Holland, of the Ellis & Holland Company, Des Moines, Iowa, general insurance agency, mailed this interesting greeting card on July 13, 1918: “ On this, my twentieth anniversary in the insurance business, I greet y o u ! While nothing of historical importance has Established Nationalized 1829 1865 1829 ATLANTIC NATIONAL BANK 257 B R O A D W A Y NEW Y O R K Capital, Surplus and Undivided Profits, $1.800,000 PHINEAS C. LOUNSBUKY Chairman . HERMAN D. KOUNTZE President EDWARD K. CHERRILL Vice-President KIMBALL C. ATWOOD Vice-President GILBERT H. JOHNSON Vice-President WILLIAM F. FITZSIMMONS Vice-President FRANK E. ANDRUSS Cashier JOHN P. LAIRD Assistant Cashier JOHN H. BRENNEN Assistant Cashier THE August, 1918 NORTHWESTERN been accomplished by me, I feel that the time has been generally well spent and trust some good has been done. The great satisfaction is in the business and per sonal friends I have been privileged to make in these twenty years. I count you among them and trust the next score of years holds for you peace, happiness and comfortable prosperity.” $— -------$------------$ - The Security National Bank, of Sioux City, Iowa, announces through the medium of a tasty blotter car rying a service flag that six of its boys are now at the front. $— -------- $-------------- $ J. J. Barley, Lewis F. Crawford and R. M. Farmer comprised the committee which drafted a resolution adopted by the North Dakota Bankers Association, saying that “ W e look with disfavor on any plan which would divide state bankers from national bankers, at this time when co-operation of effort and cohesion of all forces are so vital to the winning of the war.” $------------$----------- $ The Irving National Bank, of New York, won first prize at the San Francisco convention of the Asso ciated Advertising Clubs for the best display covering an entire year’s campaign. $------------$ - --------- $ Walter Newcomer, of Baltimore, chairman, presided at the July meeting at Chicago of the committee on co ordination of the A. B. A. Convention arrangements and other matters of moment received attention. $-------— $------------ $ H. Parker Willett, who has been secretary of the Federal Reserve Board, since its organization, nearly four years ago, has filed his resignation, to take ef fect at the pleasure of the board. It is understood that Mr. Willett will devote his time to writing on eco nomic and financial subjects and will also resume his professorship of banking in Columbia University. $----------- $— —-----$' R. E. Cone, of Huron, S. D., in his annual address as president of the South Dakota State Bankers Asso ciation, congratulated the members on the fact that every bank in the state was doing its full duty in connection with thewar loans. 13 BANKER The First National Bank oi Chicago welcomes and appre ciates the accounts of banks and bankers. Its extensive clientele, developed during more than fifty years of consistent service, is splendid endorse ment of the agreeable and satisfactory rela tions maintained with correspondents. I I Capital and Surplus $22,000,000 $------------ $-------------- $ SecretaryRichards has after much effort secured a lower rate for members of the Minnesota Bankers Asso ciation on fidelity bonds for smaller banks. The new rate will be uniform, $2.50 per thousand, regardless of the capitalization of the bank. For some time the rate J A M E S B. F O R G A N , Chairman of the Board F. O . W E T M O R E , President JOSEPH W A Y N E , Jr., President E V A N R A N D O L P H . V ice President C H A R L E S M. A S H T O N , Cashier A . W . P IC K FO R D . Assistant Cashier A L F R E D B A R R A T T , A ss’t Cashier The Girard National Bank P H IL A D E L P H IA , PA. Capital, $2,000,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Surplus and Profits, $5,475,000 Deposits, $70,000,000 ACCOUNTS OF BANKS AND BANKERS SOLICITED “ T o Satisfactorily Handle Your Business, You Need a Philadelphia A ccount” 14 THE NORTHWESTERN CORN EXCHANGE NATIONAL BANK OF CHICAGO C a p ita l........................ $ 3,000,000 S u rp lu s........................ 5,000,000 Undivided Protits . . 2,000,000 D e p o s i t s ................... 106,000,000 BANKER August, 1918 has been $4.00 per thousand on banks with less than $25,000 capital. . $----------- $------------ $ James B. Blaine, Jr., grandson of the statesman, has been elected vice president of the Liberty National Bank, of New York. He is director of the bureau of de velopment of the American Red Cross. $------------$------------- $ General Crowder has written the Federal Reserve Board stating that bank clerks are excepted from the operation of the work or fight order. $----------- $------------- $ Percy W . Hall, western representative of the Me chanics and Metals National Bank, New York, has at tended over twenty conventions and crop meetings this year. He has recently been over Iowa, Minnesota and the Dakotas and reports the crop outlook to be very fine. $-------------$---------- -$ George Messenger, superintendent of banking, says many Iowa banks have joined in the movement to aid the farmers in getting in the crops, by closing the banks early and spending the remainder of the day in the field. $— ----------$----------- $ A. T. Pomeroy, vice president of the Bankers Trust Company, of New YoVk, is in France doing work for the Red Cross. $--------------$.------------ $ Gurdion W . Wattles, chairman of the board of the U. S. National Bank, Omaha, was recently married to Miss Julia Vance, at the Natural Cathedral at Estes Park, Colo. The romance grew out of war work, Mr. Wattles being the federal food administrator for Nebraska and his bride the home economics director for the state. $--------- — $------------$ Ralph Van Vechten, vice president of the Continental & Commercial National Bank, Chicago, has returned from k trip through South Dakota, North Dakota and Montana, where he reports conditions to be excep tionally good. The crops are looking fine and the farmers prosperous. $----------- $— :------- $ C. -T. Simmons, representing the Drovers National Bank, of Chicago, was recently in Des Moines and re ports a splendid trip through Iowa. $----------- $------------$ O F F IC E R S E R N E S T A . H A M IL L , P re sid e n t C H A R L E S L . H U T C H IN S O N , V ic e P re sid e n t D . A . M O U L T O N , V ic e P re sid e n t O W E N T , R E E V E S , J R ., V ic e P re sid e n t J. E D W A R D M A A S S , V ic e P re sid e n t F R A N K W . S M IT H , S e c re ta ry J A M E S G . W A K E F I E L D , C a sh ie r L E W I S E . G A R Y , A s s is t a n t C a sh ie r E D W A R D F . S C H O E N E C K , A s s is t a n t C a sh ie r N O R M A N J. F O R D , A s s is t a n t C a sh ie r J A M E S A . W A L K E R , A s s is t a n t C a sh ie r C H A R L E S N O V A K , A s s is t a n t C a sh ie r D IR E C T O R S W A T S O N F . B L A IR CH AU N CEY B. BORLAND E D W A R D B. B U T L E R B E N J A M IN C A R P E N T E R C L Y D E Mi C A R R E R N E S T A . H A M IL L C H A R L E S H . H U L B U R D C H A R L E S L . H U T C H IN S O N M A R T IN A . R Y E R S O N .J . H A R R Y S E L Z E D W A R D A . SHEDD R O B E R T J. T H O R N E CHARLES H. W A C K E R https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T. R. Watts, cashier of the Citizens Bank, Grand Junction, Iowa, was in Des Moines recently. •He says crops never looked better in his section and that the outlook for fall business is splendid. $----- -------$------------ $ J. H. Lyford, cashier of the Farmers State Bank, Fairdale, N. D., called at The Northwestern Banker of fice a few days ago. Mr. Lyford reports business good in his territory and the crop prospects excellent. $-------------- $ - ------------- $ Lieut. Halstead M. Carpenter, U. S. R., stationed at Fort Snelling, has been advanced to the rank of captain in the National Army. Capt. Carpenter is the son of Henry Carpenter, president of the Monticello, Iowa, State Bank. $------ $-------- $ James Phillip McManus, vice president of the First National Bank,'Chicago^ and for many years represen tative of the First National in this territory, was mar ried on July 24th to Miss Elsa Loomis, daughter of August, 1918 THE NORTHWESTERN Mr. and Mrs. Allen R. Loomis, of Fort Dodge, Iowa. Mr. McManus has a host of friends throughout the Northwest who will join in extending all good wishes. C H A R L E S P. C L I F F O R D E L E C T E D M A N A G E R . At the last meeting of the board of directors of the First National Bank, of Chicago, Charles P. Clifford was elected manager of the foreign exchange depart ment and Harry Salinger was elected assistant manager. Mr. Clifford has been with this department since 1890, having occupied every desk in the department. Mr. Salinger entered the bank in 1901 and has been in the in-mail department, the transit department and later became one of the special accountants. John J. Arnold, who prior to this election had the joint title of vice president and manager of the for eign exchange department, relinquishes the latter but retains his connection with the department though he will devote most of his time to broadening the scope of his department’s activities. W AR IS T E A C H I N G P E O P L E T O Your Service Requirements T H E Banks and Bankers Depart ment o f this Company is the point o f contact between our customer banks and our forty other departments. A ny and every service which these de partments render— and that means every domestic or foreign banking service— is placed at the disposal o f our customers through the Banks and B ankers D epartm en t Officers-in Charge E. W . STETSON, Vice-Pres. G. J. GEER, Jr ., Asst. Treas. JAMES M. P R A T T , Vice-Pres. A. B. HATCHER, Asst. Treas. W e invite your inquiry as to how this Department may meet your service re quirements. SAVE. (Continued from page 6.) One must be sure of himself before he can hope to have others believe in his ability. He may fool us all for awhile, too, but some day some one will show him up. A man might get a first-class imitation diamond that would fool everybody with whom he associates, but he will always have a fear that some stranger who is posted on the real thing will strike town and spot him for a cheap sport and prove to be his undoing, and make him a laughing stock among his friends. Never for a moment is he happy in the possession of this false stone— he is only kidding himself. He has the same lack of satisfaction he would have in cheating himself at a game of solitaire. W e are apt to be sure of a man who is sure of him self. The only man who is sure of himself is the man who knows and knows that he knows. He will have this satisfaction all the time and results will prove to the other people that he is the real thing. One of the greatest results of the bond issues I can conceive of will be the education of the masses along the line of saving money and the men who are conduct ing the baby bond campaign will reach the great num ber of our people who could not afford to buy a Liberty Bond. The signing up of the cards agreeing to buy a specified number of bonds each month will automatical ly show the people the things they could have done without and when this lesson of doing without nonessentials is well learned we will have a thrifty class of people in great numbers. High school boys and college boys have long thought it smart to say to a chum: “ Lend me a five till next week, I’m broke,” and this idea of humor prevailed in the employe ranks in many of our larger business houses. The investment of the lending employe in war stamps and baby bonds will shut him off from having the ready money to lend to his friend who is “ broke” and this will be a good lesson for the latter and help to put him on a sounder business footing. W e are all learning the lesson of doing without; and this to me will be the greatest economic lesson of the war— the education of us Americans to save and have and give. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 BANKER Guaranty Trust Company of New York 140 Broadway New York London : Paris Capital and Surplus - - $50,000,000 Resources more than - $600,000,000 B/L B A N K of CHICAGO W e collect direct Bill of Lading items on every shipping point in the United States and Canada. A special department handles these items with minimum time and cost. W e invite correspondence with any bank or shipper handling a volume of this class of items. UNION TRUST COMPANY C H IC A G O Strictly a Commercial Bank Established 1869 THE 16 NORTHWESTERN pilM iriiiTfililirillM lil'ililiTiliriiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiH iiiiiiiiiiiininiiniM iiniiiniininiiiiiliiniTim lnininiiiiiiniiiiniTinniiiiiiiniiiiiiiiiiiniiiiii | Van Horn, Clnett &Gompany j A Co-partnership, the Members of which are a CERTIFIED PUBLIC ACCOUNTANTS Audits—Investigations-Systems CHICAGO a 1st National Bank Bldg. OMAHA Brandéis Bldg. DES MOINES a S. & L. Building Ü 5lllllll1lllllllllllllllll|llllllllllllllll1lllllllllUlllllllllllll11lllllllllllllllilllllllllllllllllllllllllllllllllllllllHlllllllllllllllllllllllllllllllllllllllllllUllllllllllllllllliUlllI Still Growing T h e w e l l -k n o w n s ta n d a r d s o f s e r v ic e m a in ta in e d b y th e M e c h a n ic s S a v in g s B a n k a r e c o n s t a n t ly d r a w in g n e w a c c o u n t s to us fr o m th e b a n k s a n d b a n k e r s o f Io w a . I n c r e a s e d f a c ilit ie s a r e a d d ed a s r e q u ir e d , so th a t e v e r y a c c o u n t is g iv e n c lo s e a tte n tio n . O F F IC E R S G. E . M a c K in n o n P r e s id e n t H . F . G ro ss V ic e P r e s id e n t H . F . iSchoen C a sh ie r N. B . S c o le s A sst. C a sh ie r L. J. O ’F la h e r t y A sst. C a sh ie r H a rp er G ordon A sst. C a sh ie r D IR E C T O R S N e ls o n R o y a l R . R . M cC u tch e n H. F. G ross D. E . M o o n W . A . R u t le d g e C has. A . R a w s o n J o h n H. G ib s o n R . J. C le m e n s G. E . M a c K in n o n Fort Y ou r A ccount Invited I f y o u w o u ld l ik e an efficien t c o n n e c t io n in D e s M o in e s it w ill be a p r iv ile g e to p la c e th e s e r v ic e o f th is b a n k a t y o u r d isp o s a l. C orresp on den ce fr o m Iow a b a n k s a n d b a n k e r s r e c e iv e s th e p e r s o n a l a t te n tio n o f in t e r e s t e d o fficers. The Mechanics Savings Bank 319 F if t h St. D e s M o in e s Dearborn BANKER August, 1918 S A C R IF IC E T H E P R IC E O F V I C T O R Y . (Continued from page 7.) fluttered their black-edged handkerchiefs which told their own story. Men marching in silence through spec tators in silence, men going to die—we drank the cup of bitterness to the dregs. There is no glamor, no halo, no romance about war for England today. You know war is a sordid thing, but it calls for splen did qualities; sordid thing, yes, but it calls for splendid qualities. You know war calls for courage, for resolu tion, for self-denial, for sacrifice; yes, you say, from the man in the line—oh, no, that is where you make the mistake. It calls for these qualifies as much from the men behind the line as it does from the men who are in the line. It calls for these qualities, not only from your lads in the line but from your men and women in the nation that sent them there; a sordid thing, but it calls for splendid qualities. Yes, America, the war has called out splendid qualities from you, too. You know that your nation, great as it was in the past, was never so great as in the hour when you stepped down from your pedestal of neutrality and took your part in this world conflict for right and God. A man asked me the other day, “ Have you ever seen so many bankers together before in one room?” I had the pleasure of addressing hundreds of bankers down in Iowa. I don’t think I saw quite as many as are here but, gentlemen, I have seen many more bankers than this assembled together, British bankers. Where? I will tell you—on the fields of France, march ing into action. My regiment is the Royal Fusiliers regiment and the 31st battalion of that regiment is en tirely composed of bankers. I have seen a battalion of a thousand men marching into action, to fight and to die, and every man a banker. That is our experience in, England. Why, our busi ness men in England, one man in three remains; two are taken from the business, one remains. He does the work of the other two and shares what profits there are with their families and all our business men, our business men in high places, serve four nights a week as special constables on the street. W hy? Oh, be cause our police force is fighting in the line. Tw o thou sand miles of our railways have been torn up, we sent thousands of locomotives, our rolling stock, across to France. You sing very often “ Keep the Home Fires Burning,” and you sing it very delightfully, but I am sure you think again and again while singing “ Keep the Home Fires Burning” that it is not you that keep the home National Bank CHICAGO, ILLINOIS U n ited States D e p o s ita ry C A P IT A L A N D SURPLUS $4,000,000 DEPOSITS $42,000,000 W IL L I A M A . T IL D E N , P r e s id e n t N E L SO N N. L A M P E R T H E N R Y R. K E N T JOH N F L E T C H E R M A R C U S J A C O B O W S K Y > V ice P r e s id e n ts G E O R G E H. W IL S O N CHARLES FERN ALD E . C. T U B B S j c a s h ie r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis HARRY W M. W . LEGROS C H A R L E S L. B O Y E W M . L. M cK E E R O B T . J. M c K A Y W M . E. M cL A L L E N E D W A R D N. H E IN Z W M . J. F I C K I N G E R L A W T O N , M a n a g e r F o r e ig n E x c h a n g e D e p a r tm e n t A G E N E R A L B A N K IN G BUSINESS ■Ass’ t C a sh ie rs THE August, 1918 NORTHWESTERN fires burning. Oh, thank God, people of America, that you live in this happy, in this beautiful land, so far away from the havoc and the ravages and the tragedy of war. “ Keep the Home Fires Burning.” Remember your home fires are burning today because myriad home fires in another nation have been put out. Your homes are free through the sacrifice of other homes in their defense; your little children are safe and happy through the sacrifice of countless thousands of little children in other lands. “ Keep the Home Fires Burning.” Your home fires are burning in the shelter of those front lines stretching across the fields of France, the frontier of your country is not your own coast, it is this trench carved line across the fields of France. Mothers, write your boys and tell the people to write the right sort of letter. Don’t write about the war, they are in. the War. Don’t write news, so-called, tell the people to write tender, intimate letters of home, letters that you wouldn’t think of writing to anybody else in the world. For instance, when you are writing, moth ers, tell the lad what the old daddy is doing now, it don’t matter what it is, tell mother to write the boy what she is doing, if only washing or baking, it doesn’t matter, what the boys and girls, the brothers and sis ters, are doing. Tell him about the garden, about the farm, about the crops; make the letters so full of home that it shall bring home near to the heart of the boy in the trenches. At the other end he will tell his friend: “ I had a letter from home today, daddy is all right, mother said he was doing so and so when she wrote me, mother is all right. She was worried about me, but she has had my letter and she is all right again. The boys and girls are all right.” You know today what we are fighting for; God help the man who is so blind he doesn’t know. It is not a matter of sentiment, it is a matter of God-given trust and divine responsibility. I might say that the people behind our lines are very sad. They are living under conditions of war, under martial law. Do you know what it means to have millions of men and war equip ment in the land? It means that your ordinary roads and by-ways are congested, so you can’t travel. I have seen a poor old peasant woman a quarter of a mile from her house waiting for eight or nine hours for a chance to cross a road to go home. You will have an enormous amount of baggage and impedimenta to transport and you have millions of men traveling to and fro in every direction, and every million you send, let me say, you will interpret it in the sense I mean, adds to the dis comfort and drain of the country behind the lines. You BANKER 17 A C C O U N T A N T S Our experience as Public Accountants, Auditors and Appraisers enables us to render you and your customers the best possible.service in this line of work. L O U IS J. M U E H L E & C O . 503 C. N. B. Bldg. Phone W al. 3598 DES MOINES, IO W A Be Ready As a progressive banker you are going to have~a busy fall. You will want to Be Ready to make every moment count. To do this you should purchase early your Christmas Savings Club Supplies. SUPPLIES — are both practical and economical— our knowledge of how to promote and conduct these clubs will be of special interest to every banker. Our supplies are equally as well adapted for the coming Liberty Loans. Let us tell you how easy it is to Be Ready. W r ite Us The Thrift Press Peoria, Illinois Leavitt & Johnson National Bank Established 1856 Capital, Surplus and Profits $300,000.00 Total Assets $3,500,000.00 Accounts of Banks Desired and . Appreciated https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ¡pf|| Jill Waterloo, Iowa OFFICERS J. E. SEDGW ICK, President C. E. PICKETT, Vice President J. O. TRUM BAUER, Vice Pres. IRA R O D A M A R , Cashier FRED H. W RA Y , Assistant Cashier Sixty-two Years of Continuous Successful Banking 18 THE NORTHWESTERN BANKER August, 1918 will understand the way in which I say it. I mean to say, the demands of the war, your responsibilities and HE the demands of the war react upon the comforts and MercHANTSLsf industry of these people. They are living under condi tions of w ar; 2nd every farm and every house in France Loan is a billeting station for troops. Do you know—I will close with this—that the wom AND en of England saved the world in 1915? I leave it to „ Tr u s t ! y o u : I was in the line in 1915 and my trenches on one Co m p a n y occasion were so bombarded, they were beaten down to the ground during the day and all night my lads toiled to rebuild them to save their lives, and again the Statement of Condition at Comm, cement of Business, July 1, 1918 RESOURCES bombardment continued. I phoned back to retaliate, Loans and Discounts......................................................... $ 69,003,757.19 United States Bonds and Certificates............................. 2,478,120.00 and then we crouched down behind our broken mass Other Bonds and Mortgages................... .......................... 10,836,168.76 Stock in Federal Reserve Bank........................’ ............. 330,000.00 of trenches, waiting to hear the scream of our shells Customers’ Liability under Letters of Credit............... 4,923,784.00 Customers’ Liability under Acceptances........................ 5,230,547.59 going over to protect us. But we heard nothing. I Cash and Due from Federal Re phoned back again: “ Retaliate, bombardment heavy, serve Bank ................... ................$ 8,437,113.08 Due from Other Banks and casualties serious,” and we waited and waited but heard Bankers ......................................... 19,987,990.62 Checks for Clearing House............ 2,201,875.32 30,626,979.02 nothing. And again I sent an even more urgent mes $123,429,356.56 sage because we were almost beaten, and then the reply L IA B IL IT IE S Capital .............................................................. .$ 3,000,000.00 came, the old English reply: “ Carry on, carry on! Surplus ............................................................ 8 , 0 00 , 000.00 Undivided Profits........................................... 1,591,232.71 Hold the line at all costs, but we can’t retaliate, we Reserved for Accrued Interest and Taxes. . 372,543.54 Dividend Payable July 1, 1 9 1 8 ................... 150,000.00 have got no shells.” Liability under Letters of Credit................. 4,923,784.00 Liability under Acceptances. ...... 5,032,706.53 Mr. Lloyd George, my great fellow countryman, Deposits ............................................................................... 100,359,089.78 called together the women of England. He asked: $123,429,356.56 “ Will you save the line?” They said: “ Yes.” Eight ORSON SMITH .....................................................Chairman of the Board EDMUND D. HU LBERT.................................................................President FRANK O. NELSON.................................................................................Vice President hundred thousand of them went into our factories, JOHN E. BLUNT, J R .............................................................................. Vice President transformed into munitions works; and today we have C. E. E STE S............................................................................................... Vice President F. W. T H O M P S O N ................................................................................ Vice President 93 national arsenals and we have 5,000 great factories H. G. P. DEANS.................................................................................... Vice President P. C. PETERSON....................... . ......... :......................... ................ Cashier JOHN J. GEDDES........................................... AssistantCashiercontrolled by the government changed into munition F. E. L O O M IS ............................................ AssistantCashier works and we have five million women working for LEON L. LO E H R ........................................... Secretary and Trust Officer A. LEONARD JOHNSON................. ; ..........................Assistant Secretary England, to save England and save the line, and 70 per G. F. H A RD IE ................... .. ...........................Manager Bond Department CUTHBERT C. ADAM S................. Assistant Manager Bond Department cent of all the machine work on our shells and fuses CHICAGO and trench warfare equipment is the product of the labor of women. Women saved the line in 1915 and saving the line, they saved the world. May I ask you, in order to win, will you put your patriotism before everything? Put your patriotism be fore your profits, play the game, America; hurry up, America. I know you will. I know that when this great nation realizes as it will some day the real nature of war, your men will be as grand as the men of your Allies have been and as grand as your lads in the line today are and have already proved themselves to be, MUSCATINE, IOW A and your Women will be as splendid and as heroic as the women of England and the women of France. 1857 M S 1918 m u s c a t i n e t a t e Capital D eposits B - a n k $250,000 $2,400,000 Y o u will like the personal service w e give on all col lections sent to us. W e do not solicit your business— we trade you our service for it. FOOD M ESSAGE TO BANKERS. The Guaranty Cattle Loan Company, of Kansas City, Mo., has issued in very attractive form a special mes sage from the United States Food Administration, addressed to the patriotic bankers of America. This message observes that in all ages cattle have represented wealth and even with modern civilization and complex warfare the same primitive human ten dencies are still evident. OFFICERS P. M . MUSSER, President E. L. M cC O LM , Vice President E. C. STOCKER, Vice President' E M IL WEBBLES, Cashier W . J. FAYLE, Asst. Cashier W . A. BLAKENEY, Asst. Cashier ESTABLISHED As a Private Bank, 1870. As a State Bank, 1896 47 Years of Continuous Service. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A G E N C I E S IN RURAL W ELFARE. (Continued from page 9.) unlimited. He knows more about the farmer’s busi ness than anyone; often times he is legal advisor, real estate agency, and business secretary, as well as banker. More than any other person in any commu nity he is looked up to for counsel and advice. •His influence in the community is unlimited, and directly in proportion to that influence is his ability to be of service to himself and community, by helping them in building up their own prosperity, for in the prosperity of the farmer is the prosperity of all mankind. THE August, 1918 ■ ■ MADE to ORDER NORTHWESTERN 19 BANKER For 3 7 Y ears ■ ■ Really knowing the styles worn by gentlemen is but part of good tailoring. W e study the characteristics of each man’s figure, and, with a hundred and one small perfections of cut and fit, give his clothes that indescribable look called S T Y L E — Individual Distinction. Suits and Overcoats, prices--$35 to $75. A splendid range of clear cut W ors teds at $35 to $40. A n almost endless array of smart fabrics await your selection here. the Metropolitan Trust Company has been conducting a high-grade banking and trust company business in the very heart of America’s financial district. Its present offices at 60 Wall Street are equipped with every modern facility for handling banking matters with the greatest accuracy and despatch. We offer a special service complete in every detail to correspondent banks. A hand some illustrated booklet showing views in our banking offices and photos and descriptions of some of the time saving • machines we are operating will be sent upon request. Write for it today. C a p ita l $ 2 , 000,000 Surplus $ 4-, 000,000 Metropolitan Trust Company of the City of N ew York N I C O X /L T h e T a i l o r W ~ Jerrems’ Sons 2 4 th Y ea r 60 Wall St. 716 Fifth Ave. Member of Federal Reserve System D es M o in es, Iowa 1868 E stablish ed Capital and Surplus $ 1,750,000.00 T h e live stock industry is a w a r industry o f first importance The Live Stock Exchange National Bank of Chicago lends its entire support to the liv e stock industry. Y o u r patronage w ill assist in this great w o rk . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE 20 Legal NORTHWESTERN O p in ion s BANKER and August, 1918 D ecision s The following question bank the debt which the This department contains each month excerpts from the latest decisions on banking and commercial law carefully has been submitted: guardian individually owes selected from recent decisions of the supreme courts of A bank customer who the bank, then they are li Iowa, Nebraska, Minnesota, North and South Dakota, and has been duly appointed able, not otherwise. from other states when the decisions are of interest to and qualified as Guardian Question: A certain our subscribers. Questions of interest to bankers will be discussed and ANY SUBSCRIBER has the privilege of for his minor children, is bank receives in a cash writing for information and advice on any legal subject. using and checking from letter from one of their He will receive an immediate reply from our attorney the bank their funds to correspondents, a check without any fee or expense. A complete trial brief of any pay his own personal in signed by one of the subject involving exhaustive research in a complete Law Library will be furnished at any time for $10.00. In w rit debtedness. The bonds bank’s depositors and ing for information, kindly enclose a 3-cent stamp for men of this guardian have payable to the order of reply and address “ Legal Department,” care The North knowledge of the above John Doe for $1,000.00. western Banker, Des Moines. facts. Can they hold the The indorsement of the payee; viz., John Doe, was missing on the back of the bank liable? Answer: The above question is indefinite as to check which should have been there with several other stating whether or not these funds belonging to the indorsements which were listed on the back of the minor children are deposited in the name of the guard check. The last bank forwarding this check supplied ian or to his own personal account. However, assum the indorsement, “ Pay any bank or banker all prior in ing that these funds are deposited in the name of the dorsements guaranteed,” with'their name on the said guardian, the bank assumed no liability, whatsoever, check. Supposing that John Doe, the payee o f said since they have informed those parties and bondsmen check, should claim that he never received the said of the status of affairs. It is held in Iowa generally $1,000.00. What position would the bank be in with and by other states, that where the deposit is made reference to the protection of its depositors, and also by the executor, administrator, public officer of other what attitude would the last indorsing bank be placed trustee, the relation of debtor and creditor is created in by virtue of having guaranteed all indorsements ? between the bank and the depositor as in other cases. Answer: Under the negotiable instruments law This last set out rule is subject, however, to one excep paragraph thirty (30), which holds that an instrument tion, viz.; that if the deposit is made in violation of is negotiable when it is transferred from one person to the trust, and this fact is known to the bank, so that another in such a manner as to constitute a transferee it had no right to receive the deposit as in case made the holder thereof. If payable to bearer, it is nego by public officer, in violation of law, the relation of tiated by delivery; if payable to order it negotiated by debtor and creditor is not created, but the Bank holds indorsement of the holder, completed by delivery. the money as a constructive trustee with the.result that Under paragraph forty-nine (49), of negotiable in if the bank becomes insolvent the beneficiary has a struments law, it holds that where the holder of the preferred claim as against the general creditors, if he instrument payable to his order, transfers it for value can trace and identify the fund. without indorsing it, the transfer vests in the trans Since in this case the deposit is made by the guardian feree such title as the transferrer acquired, in addition a contract is entered into between the bank and guard the right to have the indorsement of the transferee. ian, the guardian has a right to withdraw the deposit, But for the purpose of determining whether the trans and the bank may assume that the trustee will appro feree is a holder in due course, the negotiation takes priate the money when drawn to its proper use. If effect as to the time when the indorsement is actually in this case the bank having knowledge that a breach made. of the trust is being committed by an improper with In most of the states the courts have held that Where drawal of the funds and the bank participated in the the instrument is payable to order, the indorsement is misapplication of the funds, it then is liable, viz. ; if required to constitute the transferee a holder in due the bank permits the guardian in this case to pay the •course, but without the indorsement of the payee of R « 1 ' ; ifIPli lÄ Ä l if I Ih K .■ hnprlflH BB H II H jl a ' 1 t *-' P P « hBR Ï H I jwLJÉ 1 |fc U p ■ ■ ■ u ['* https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis *8 l|fff||l|f > " -- Your Chance P 1H a rU * ¡¡¡¡fe M jf l j J|| We always have in our possession several sets of secondhand bank fixtures which we offer at so low a price that you can always dispose of same without a loss to you. If you are opening in a temporary building, or even for permanent use, these will make splendid fixtures at about one-third cost of new equipment. Get the description of these outfits— it is worth your while. M c N a m a r a -K e n w o r th y C o . Des Moines, Iowa. August, 1918 THE NORTHWESTERN instrument, the party to whom it is transferred takes subject to the defenses in favor of prior parties. There is, indeed, some authority to the effect that if it was the intention of the parties that the instrument should be indorsed, but the indorsement was omitted through the inattention, mistake, or fraud, the indorse ment, when subsequently obtained, will relate back to the time of the delivery, but operate as if then given, the holder standing as a bona fide purchaser as of that date. The governing principle is that in order that the purchaser may take title, discharged of equities, three things must concur: (1) Bona fides, (2) the giving of value and (3) the transfer of the legal title. In the above case without the indorsement of John Doe on back of said check, all subsequent parties ac quire no legal title, since legal title in such case mustonly be granted by the signature of the payee on the instrument itself or by slip of paper thereto attached and made a part thereof. In this case the bank should not cash said check until there appears on the back of said check the indorsement of the said John Doe. And masfar as the bank should place on the back of this check the words, “ Pay any bank or banker, all prior indorsements guaranteed.” However, it is not to be presumed that the bank guarantee the indorsements of John Doe, since they would have no power so to do, and all other indorsements assume the responsi bility in any and all prior equities which may arise. Query in Banking Ethics.—A military company has fund raised for them at home— money deposited in home bank under name “ Company Fund (Officer’s BANKER 21 name),” edmpany transferred to camp many miles away: The officer is transferred to another camp and regi ment. The new commanding officer writes the bank for statement of account. Question:— Should the bank send the new com mander such statement? Answer:— The officer in above case is merely the agent of company and once he departs from the com pany in whose name funds were deposited, his author ity ceases and the newly appointed officer at once as- SECURED NOTES We can offer at 7 per cent discount six months loans of manufacturers and installment concerns, long established and well rated in Dun and Bradstreet. Each loan is secured by customers’ notes at a margin of 50 per cent or more taken from retail customers for merchandise sold and delivered. The borrower remits collections made semi-monthly, with out rebate of interest. Usually 40 per cent or more of each loan is repaid prior to maturity, thus giving the lender an average deposit of about 20 per cent. W M . A . L A M S O N & CO . Established 1904 Commercial Paper 60 W all Street N ew Y ork Choose Fisher-Morris Fixtures || They Have Set the Standard for Hank Interiors for Over H alf a Century 11 |j 11 11 !| |j 11 || || 11 They are recognized the country over as a real asset, because they are beautiful, practical, permanent. They increase efficiency— enable your employes to accomplish more. They please your customers— attractive fixtures are a sound investment. Give us an opportunity to apply our experience to the service of your bank— the advantage will be mutual. A Fisher-Morris Bank Interior II Fisher-Morris Company B a n k F ix tu re H eadquarters for P a st H a lf Century II C H A R L E S C IT Y , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - IO W A Every detail receives the expert attention of our com plete organization. We are as particular about the little things as we are about the big things. Over three thousand banks have been equipped with Fisher-Morris fixtures and the officers of these institu tions are more than satisfied with our service. Ask us to help you plan your new bank interior. THE 22 NORTHWESTERN sumes full charge of said funds and the bank should forward to him the- necessary data. But let not the bank relinquish their trusteeship of said funds until they have been credibly informed that said original company has become intact and that it is their desire that said funds be withdrawn. Accounts of above na ture cause a great deal of trouble and should be dis pensed with unless a written agreement be had by and between the debtor and creditor, explicitly stating that no surrender of funds be made until termination of war. Elements of Convenience in “ A.B.A.” Cheques F IR S T : Identification. One of the most convenient features of “ À .B .A .” Cheques is the ease with which they “ identify” the holder to strangers. T he countersignature of the holder, if it corre sponds with the original signature, placed on the cheque at the time of purchase, sufficiently estab lishes his identity. “ A .B .A .” Cheques therefore are more dependable and convenient than drafts, certified cheques and other paper that cannot be safely cashed by a stranger without positive identification, which often is difficult to furnish. SI lili .$ 5 0 9 9 .SIXTH STATI T he signature’ and countersignature corre sponding, the. holder is properly identified. Bankers 'Trust Company NEW YORK CITY Agent for issuance of I A merican B ankers A ssociation T ravelers ’ C heques BANKER August, 1918 N E W B A N K E R S A S S O C IA T IO N . A new nation-wide association of bankers, to be known as the National Council of State Banking Asso ciations, was formed at St. Louis on July 15th. The committee on credentials reported. 185 regular dele gates, 35 of whom were from Illinois. The voting was by states. Iowa was not represented at the conven tion. ,Wm. M. Booth, of the Security Trust, Los Angeles, later elected president, stated that the council would not antagonize the Federal Reserve System. He said the new council would “ go to the meeting of the Amer ican Bankers Association in perfect friendship and work with them shoulder to shoulder, 100 per cent American.” The council elected an executive committee of twelve members, one from each Federal Reserve Dis trict, who will represent the association in legislative matters at Washington. Lobby gossip was to the effect that the new associa tion would very likely become a competitor of the American Bankers Association, seeking the favor of the bankers of the country. During the proceedings 30 delegates from Illinois left the convention hall. Banking Commissioner George I. Skinner, of Albany, N. Y., presided until George A. Terrill, Jr., of Phila delphia, was appointed chairman. The officers elected are: W . H. Booth, of the Se curity Trust, president, Los Angeles; William Macferran, vice president, Topeka; George W. Rogers, vice president, Little Rock; F. H. Sisson, vice president of the Guaranty Trust, New York, secretary; William B. Boulton, treasurer, Morristown, N. J. The following comprise the executive committee: Albert O. Brown, Manchester, N. H., First District; Charles H. Sabin, president Guaranty Trust Company, New York, Second District; George H. Earle, Jr., president Finance Committee, Philadelphia, Third Dis trict; Malcolm McGriffith, president Fidelity Title and Trust Company, Pittsburgh, Fourth District; Emory L. Coblentz, president of Central Trust Company, Fred erick, Md., Fifth District; Forrest Lake, president Seminole County Bank, Sanford, Fla., Sixth District; H. A. Moehlenpah, Clinton, Wis., Seventh District; Charles S. McCain, vice president and secretary Bank ers Trust Company, Little Rock, Eighth District; George G. Johnson, vice president First Peoples State Bank, Thief River Falls, Minn., Ninth District; Charles L. Engle, president Commercial Bank, El Reno, Ok., ■ • CHAS. SHULER, President FRANK B. YETTER, Cashier W. H. GEHRMANN, Vice-President LOUIS G. BEIN, Assistant Cashier CAPITAL S T O C K .......................... $150,000.00 SURPLUS . . . . . . . 150,000.00 UNDIVIDED PROFITS . . . . 125,000.00 We invite the business of Banks, Bankers and Merchants desiring Prompt, Efficient and Satisfactory Service. ■ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ August, 1918 THE NORTHWESTERN Tenth District; Travis Oliver, vice president Central Savings Bank and Trust Company, Monroe, La., Eleventh District, and John S. Drum, president Sav ings Union Bank and Trust Company, San Francisco, Twelfth District. St. Louis bankers, who were hosts, took no part in the discussion and as above stated Iowa sent no dele gates. Illinois, Indiana, Michigan, Missouri, Ohio, Ten nessee, Wisconsin and Texas opposed the organization. Thirty states were represented. BANKER A T T R A C T IV E F I X T U R E S ARE A BANK’ S BEST ASSET Then w h y not get “ EHRLICH” Fixtures and Increase Y O U R BUSINESS? T O R R ID Z O N E W A R M A I R H E A T E R . Just, as a chain is no stronger than its weakest link, so a warm air heater is no better than its body and joints. The warm air heating plant has always been recog nized as the.best method of supplying heat to resi dences, schools and churches when properly installed. To overcome the only objection of gas and smoke leaking into the building the manufacturers of the Lennox Torrid Zone Warm Air Furnace,' which is shown in the accompanying illustration, make the body of their furnace of heavy, mild, open hearth, steel Interior_View of the First National Bank, of Fremont, Nebraska. If you so desire we w ill help you design them. W rite us today. H. EHRLICH & SONS MFC. CO. ST. JOSEPH, MO. Make Your Advertising Say “W E ’LL W IN !” UST BECAUSE UNCLE SAM doesn’t want you to travel, don’t think he wants you to put your business to bed for the duration of the war. J plates, riveted together and calked under tremendous air pressure. The fire pot is made of fire brick which line the in side of the combustion chamber. The grates are of the locomotive type and are easy to operate. The heating surfaces are vertical and allow no ac cumulation of soot and ashes; this insures a prime heatingf surface at all times. The double feed doors permit the burning of large ■chunks and trash in fall and spring. A woman or child can tend it and you do not have to be an expert stoker to avoid spilling fuel from the shovel. Styles and sizes of the Torrid Zone furnace are made to suit the different requirements, ranging from the small cottage to the public building with a fan warm air heating system. . Their engineers are at your service and you can get full particulars and details by writing the Lennox Fur nace Co., 200 Lincoln Highway, Marshalltown, Iowa. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ADVERTISE! In the face of short help, inex perienced employees, economies, added duties— keep your bank’s service at 100%—plus. CRADDICK SERVICE will take care of all your advertising details and do it effectively, efficiently, economically. A DEFINITE advertising proposal will be sent upon request, giving full information with cost estimate. In writing, enclose last bank statement. H. B. CRADDICK Advertising Manager for 424 Banks 1004-1008 First Nat.-Soo Building Minneapolis, Minnesota 23 24 THE NORTHWESTERN BANKER August, 1918 H ow to Get Profitable Depositors B y F. E. Davis In this article Mr. Davis, president of the Indiana State I live in a small agri and keep at it from year Bankers Association, gives many practical ideas which he cultural c o u n t y of six to year, you are sure to has found successful and which offer valuable suggestions townships, in a countyget the business, for you to the bankers of the Northwest. seat town of 4,000 popu will have so thoroughly lation. There are eight banks in the county and six instilled the name of your institution into the minds of more within a mile of the county line. My bank has your people that, when they think of a bank, they about 40 per cent of the deposits in the county and con naturally come to you—to get your services that they trols over 60 per cent of the money loaned. Our de know all about. posits are $1,000,000 and our loans are over $1,500,000. Advertising spells success in the soap business, the Therefore, as we are no better bankers than other cracker business, the dry goods business and, last but bankers in our neighborhood, there must be some not least, in the banking business. The banks that other reason for this large percentage of the business; are pushing to the front in all parts of the country are and, while I would not like to say it in the hearing of the ones that advertise. my competitors, I am frank to confess to you that I, In advertising a bank, you must know the people of personally, think it largely due to judicious adver your community. Know what they do; what they tising. produce; how they invest their money; and then get One of the greatest draw yourself in line to use their backs to banking prosperity methods, their ideas and to is the lack of knowledge the drift their ways into harmony “Does it pay to advertise and will advertising public has of the real work with yours. Also make them bring deposits to the bank? This question is ings of the banking business. constantly in the mind of the banker who has see the advantage of having never thoroughly tried out a common-sense, There are thousands of peo a bank account. scientific campaign of advertising. The banker ple who are still afraid to The banker in a farming who has patiently and persistently advertised trust their money to banks. community must be able to his business just transposes the first two words They do not know how the talk intelligently to the farm of the foregoing question and thereby trans forms it into the truest statement ever made— laws protect them. They do ers about the crops grown in It does pay to advertise.” not know how strong these their particular locality. Do institutions are. Neither do you know that there is not a they know how funds grow s i n g l e community repre by reason of added interest, nor how much safer sented here but what has a chance for a large increase money is in a bank than if hidden away where it is in deposits? And that very few of us have much over liable to be stolen or burned. Then we 'would ask: half of the business that is there? Does it pay to advertise and will advertising bring About three years ago I put out a bright young deposits to the bank? woman (the wife of a poor young man who had a few This question is. constantly in the mind of a banker dollars in our savings department) to solicit deposits who has never thoroughly tried out a common-sense, for our savings department. My town has about 1,200 scientific campaign of advertising. The banker who has homes. This solicitor carried with her a card on which patiently and persistently advertised his business just were the following: Name, street and number; num transposes the first two words of the foregoing ques ber in family; did they have a bank account? Not tion and thereby transforms it into the truest statement with what bank, but simply— did they have an account. ever made—it does pay to advertise! I was amazed to find that, after having advertised for Don’t think that the people are going to rush into years— and my competitors had done the same— over your bank to open an account the first time you run 40 per cent of the residents of my town did not have a good ad in a paper or send out a good circular letter a bank account. —-for they are not going to do it. But—if your bank In the winter of 1915 we put on a Christmas Money will start in on a good, strong advertising campaign Club, and were told time and again by people who took PEOPLES TRUST & SAVINGS BANK E stab lished 1893 CLINTON, IO W A CAPITAL, $300,000.00 — SURPLUS, ALL EARNED, $300,000.00 — DEPOSITS, $3,800,000.00 Offers the facilities and services o f a live, up-to-date banking house, fully equipped and amply capitalized to handle intelligently and efficiently every branch of legitimate banking. COMMERCIAL https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis — SAVINGS — SAFE DEPOSIT — TRUST Accounts from banks in its territory, and collections receive the special attention of an officer of the bank J. H. ING IV ERSEN C. F. ALDEN W . W . COOK President V ice President Cashier J. L. BOHNSON, C. S. HARRIS and W . S. GARDNER A ssistan t C ashiers THE August, 1918 NORTHWESTERN 25 BANKER Our location and facilities enable us to keep Credit Inquiries CJ in! close touch with the credit standing of Eastern and Middle Western corporations and individuals. CL We invite your inquiry re garding Credit Service rendered The National City Bank our correspondents. OF CHICAGO DAVID R. FORGAN, President cards—through the efforts of our advertising and so licitors—that they never had had a bank account be fore, and some of them said they never had been in a bank. At the end of the year I watched this account carefully and found that fully 30 per cent of the money paid out was passed over to our savings department, and a goodly per cent was deposited in the Christ mas Money Club for the next year. “ But,” I hear someone say, “ I don’t need to adver tise. Everybody in my neighborhood knows me; knows that my bank is safe and is conservatively man aged, and they will bring their money to me anyway.” This is true only to a limited extent. In every neighborhood there is more or less money hid away in stockings, old tin cans, etc. This money can only be reached by getting in touch with the hold ers and by winning their confidence. Put your advertising in one man’s hands and hold him responsible for it. Allow him a reasonable amount for expenses. Don’t advertise spasmodically. Let him study the matter over carefully, take up a line that seems to be best suited to your community, and then stick to it. One great mistake in advertising is to be continually changing— calendars today; circular letters tomorrow; newspapers the next day. The past year (Continued on Page 68.) Bank Envelopes Bank Envelopes of every description, including Pay roll, Coin, Statement, Window, Commercials, Docu ment, Pennysaver, etc. Largest manufacturers of Printed Envelopes in the world. Daily capacity eight million. W rite us for samples and prices whenever you are in the market for anything in the shape of an en velope. Samuel Cupples Envelope Co. New York St. Louis Chicago The M e rch a n ts National Bank Cedar Rapids, Iowa Resources $14,000,000.00 C. H. EIGHMEY, President C. J . COLLIER, Vice-Pres. W. M. Hetherington, Vice-Pres. H. A. KOESTER, Cashier O F F IC E R S Capital - - - - $200,000 Surplus and Profits, $200,000 First National Bank J o h n T . H a m ilto n P re s id e n t P . C. P r ic k V ic e P re sid e n t J a m e s E . H a m ilto n V ic e P re sid e n t E d w in H . F u r r o w C a sh ie r H . N . B oyson A s s is t a n t C a sh ie r R o y C . P o ls o m A s s is t a n t C a sh ie r M a r k J . M y e rs A s s is t a n t C a sh ie r F r e d A . G ro e ltz A s s is t a n t C a sh ie r DUBUQUE, 10WA Accounts of Banks Solicited. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Write Us for Terms A live institution, offering superior equipment and facilities for the handling of bank accounts. 26 THE NORTHWESTERN BANKER August, 1918 Selling Insurance a Science B y Ralph S. C ro w e Mr. Crowe began five years ago to develop scientific Five years ago I became is a life insurance policy methods in the sale of life insurance. His success demon convinced that just as and you took it home and strates the value of applying scientific principles to the Munsterberg says, it is gave it to your wife and work, as herein set forth. only a matter of time until said, “ Tillie, there is a life science revolutionizes the business of selling, the same insurance policy.” Then I pitch right in and tell him as science has revolutionized every other field it ever what he has. entered. But I wanted to do more than read about this Don’t start any arguments. Man, it is proven, is science and watch it as it percolated into the business not a logical animal. Arguments won’t sell life insur world. I wanted to try it out. If it was the real stuff, ance, so if you want him to take that policy, don’t and I had an awful hunch that it was, I wanted to be on argue. If he brings up a point, say, “ That point is the band wagon, up at- the head of the parade. So I taken quite correctly, but I feel”—and tell him your picked out what I thought was the best selling proposi side of it. He will forget all about his side. tion there is in American business today—life insur Here is a most important thing to do as you tell him ance—and I decided to try and build up scientific, abso about the contract: Go after his feelings; go after his lutely correct sales for this commodity. emotions. Make him see himself getting his money Before the human mind commands the body to do back. You know when a man says he wants five, and anything, to perform any act, it first projects that ac we come back with two fives, the second policy is easy tion in imagination. That is, the mind must see the to deliver, because you have- a definite physical policy necessary steps before it can perform any action other there for him to take. than an instinctive or involun Now reverse this and have a tary act. The mind and body definite physical policy to start might be compared to a great with. I always want a sam “ I also use a check to make this feeling of a caterpillar tractor, with tracks ple policy made out. I have definite, concrete commodity even more strong. When I talk about protection I reach in my running over those revolving them made out and put in one pocket, or in m y desk, and pull out a check wheels. of our blue folders. I have it book, and write out a big check in red ink, and Look Ahead. made out with cash reserves, put it right in his hands. Then I say, ‘There, A caterpillar tractor is al everything, underline his name that check belongs to your wife if you trip and fall under the front trucks of a street car.’ ” ways running on its own in red ink, and I put it in one track, which it is always lay of our paper folders, just as if ing in front of itself. It lays it were a policy, but I don’t its track as it goes. Just so with the mind. You see call it a sample policy. I wish those words “ sample we could not perform any act unless we knew exactly policy” didn’t have to be there. I call it “ the policy what act was to be done. W e may not know the result “ your policy,” and I put it right in his hands. of the act, but we have to know the steps for perform I make it just as definite a physical commodity as I ing the act. Now, if the mind knows exactly how, it is can. That is psychologically correct. much easier for it to act. Uses a Bank Check. Any man, or salesman, who is trying to prevail upon I also use a check to make this feeling of a definite, a man to do anything should carefully and fully explain concrete commodity, even more strong. When I talk how his proposed action is performed. He should try about protection I reach in my pocket, or reach in my to project the thought in the man’s imagination. He desk, and I pull out a check book, and I write out a big should lay the track for the man’s mind. I make his check in red ink, “ $5,000. Pay to John Henry Jones,” mind go over the course it must take to secure a policy. signed X Y Z, and I put it right in his hands, and I say, I make his mind go right through the application. That “ There, that check belongs to your wife if you trip is psychologically correct. and fall under the front trucks of a street car.” Give Illustration. Now, when you get to the close, use “ how,” just as I make him see himself at the doctor’s. I put that you did in the opening. When you get him to the great folded piece of paper in your hands and said, there close use only “ how.” Simply keep after him with ^niii!ii!iiiiiiiniiiniiiniiiiiuiiii!iiiiiiiiitiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiii!iMiiiiii!iiiiiiiiiiiiiiiiiiiiiitii!iii!iiiii!iiiiiiiiiiitiiiiiiiiiiiiuiiiiiiiiiiuiiiiiiniiniiiiiiiiiii!iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiKiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiuiifiuinniiiiiiiimiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiKiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiinimi.iminu =: ¿IHWIIIIIIIIIIHIIllHlllllllIHIIIIItlMIIIMIIIIIIIMIIIIIIIIIIIIIIIIIIHIIIIIlllllllllllllUIIIIIIIIIIIIIIIIIIIIH lllllillllllMIIIIIIIIIMIIIIIIIIIIIIIIIIIIIIII|llllllllllllllllllllllllllllllllMllllllllllllllllllllllllllllllllllllllllllllllllMIIIIIIIMIIIIIII|IIIIIIIM|IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIUI||l||l|||ll|||||l|||||||||||||)||||||||||||t||||||||||||ll||l|l|l|||||iMi||uillMllllllllinill>ir i 11 11 ¡I N e w D o u b le In d em n ity and T o ta l D isability Policies |( We have just placed on the market a policy that pays double the face amount of the policy in event of accidental death and monthly indemnity in event of total disability. Part Time and Full Time Representatives Are Needed by Us. It f| || F o r F u ll P a rticu la rs W rite G u aran ty Life Insurance C o m p a n y | L. J. Dougherty, Secy, and Gen’l Mgr. i — _ — Davenport, Iowa ¡1 ____ ________________________ ______________ __________________ _________________________ ____ ___ _______ ______ ____ J ( .............................................................................. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE August, 1918 NORTHWESTERN suggestions like this, once you see you have got him coming : “ This is a wise thing to do ; now thé thing for you to do, it seems to me, is to fill out this application for a medical examination, and go see our doctor and give me a check.” If he does not come, let him say something, and get right after his mind again. No more arguments about life insurance. E N E M Y A L I E N S IN U N D E R W R I T I N G . Richard M. Hurd, chairman, of the board of trustees of the American Defense Society, writes this letter in earnest opposition to any licensing of foreign insurance companies: “ The ‘trading with the enemy act,’ recently passed, provides that the Secretary of the Treasury may li cense enemy or ally of enemy fire insurance companies (not marine) in the United States. Every patriotic American is earnestly requested to write to ‘ Hon. W il liam G. McAdoo, Secretary of the Treasury, Washing ton, D. C.,’ urging him not to license any enemy or ally of enemy fire insurance company. “ The burden of proof is upon the Germans. Why should the United States permit the Germans who sacked Belgium and sank the Lusitania to continue to extract an annual income of $25,000,OCX) from the pock ets of the American people? To license these com panies would be constructed by Germany as evidence that the United States is not wholeheartedly in the war. It would be a source of financial support to Ger many. The German companies doing business in the United States on December 31, 1916, had assets in the United States of only $27,772,000 as against $2,853,190,000 of risks, or less than one cent for each dollar of risk! Germany is bankrupt.” 27 BANKER IOWA NATIONAL FIRE INS. CO. 1018-1024 V a lle y National Bank B ldg. DES MOINES, IOWA JOHN L. BLEAKLY, President F. L. M IN ER , C. M. SPENCER, V ice Pres. Secretary C. S. V A N C E . FRANK P. FLYN N , 2nd Vice Pres. Treasurer POLICY HOLDERS Will Patronize an IOWA Company Guaranteed by IOWA Capital Managed by IOWA Men I O W A B A N K E R S Recognize the Advantage of Pro tecting I O W A C R E D IT with I O W A IN S U R A N C E R eliable Agents W a n ted in Every City in Iow a. W rite to the Com pany or H. P. ROSSER, Supt. of Agents A SO U N D IN V E S T M E N T . You may have made other investments which you now have cause to regret. Most of us have stocks or certificates for which we would be glad to take the purchase price. No policyholder of Northwestern Na tional or of any other old line company can think of his life insurance policy except with satisfaction and pride, unless he has an unpaid loan against it. If he has borrowed from his estate he cannot feel contented until he has repaid the loan and put his insurance, which may mean comfort and security for his depend ents, at its full value. Early in each man’s career he feels that no matter how many men make foolish investments, he at least will know better than to lose his savings. Unfortu nately, many live to realize that their insurance is the of Bo s t o n . M a s s a c h u s e t t s Organized in 1862 under the laws of Massachusetts. A SS E T S L IA B IL IT IE S SU R P L U S - $156,466,359.38 $147,735,472.02 $ 8,730,887.36 “ THE POLICYHOLDERS’ COMPANY” Live-wire service given all agency connections. information wire H A RR Y S. HASKINS, 701-3 Hippee Bldg. For General Agent - Des Moines, Iowa The Service A gency Illlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllffl T H E R E ’S A 1 W H Y BANKERS t\ if i U J-i-LF H A ▼ Jji REASON Our policies give your clients the most for their money. Our disability clause provides that the loss of the sight of one eye or the severance 0f one hand or one foot constitutes total disability. 1 ■ Hi OUR Ü ü COMMONWEALTH LIFE INSURANCE COMPANY, Omaha, Nebraska ü C L Y D E G. S M IT H , A g e n cy M anager 1 n Many bankers are coining money representing this Company—WHY NOT YOU? 1 AGENCY lllllllllllllllllllJlllllllllllllllllllllllllilllllllllllllllllllllllllllllllllllllllllllM https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis This makes our policies easy to sell, and we pay you well for selling them. 28 THE NORTHWESTERN BANKER August, 1918 chief part of their estate and that if they had put all their savings into life insurance they would have provided handsomely for their families and for their own old age, instead of leaving perhaps a few thousands or having saved for their later years a mere pittance. — Northwestern National News. G eo. J. D e lm e g e , P r e s id e n t P . C. W a t e r b u r y , V ic e P re s . T h e o . P . G r e fe , S e c r e t a r y H o m e r A . M ille r, V ic e P re s . W . P . H a b e l, A s s t. S e c’ y S im o n C a sa d y , T r e a s u r e r H e n ry , A lb e r s o n & H e n ry , A tt o r n e y s . Make your quarters into warriors by buying Thrift Stamps. MORTALITY AND OCCUPATION. Causes of death and the average age of shuffling off this mortal coil, according to classes of occupation, have a right to be in the public mind. The Metropolitan Life Insurance Company, from an investigation conducted from among more than 94,000 deaths of male and 102,467 deaths of female policyholders, found that the average death age for bookkeepers and office assistants was 36.5 years. Tuberculosis, curiously enough, caused 20.5 per cent of the deaths among this class of men and 14.4 per cent among women workers of the office class. The average age of all men, succumbing to tu berculosis, was 37.1. Among office workers, tuber culosis caused 3,5 per cent of the deaths among men, and 42.4 among women, indicating that the insidious disease flourishes among the fair sex against less re sistance. Clerks and sales women suffer less from the ravages of the disease, although it is popularly supposed that a sales girl, under much more strain than an office assistant, as a rule, and working under less sanitary conditions, would suffer more and be more susceptible. The following table showing the average longevity, ...................... Cash Capital .. ■................... $500,000.00 Net Surplus....................................... 352,347.99 Surplus to Policyholders................. 852,347.99 A home company, owned by home people, managed by experienced and conservative un derwriters and able financiers. A CENTRAL-WESTERN COMPANY FOR CENTRAL-WESTERN PEOPLE. W e are offering “a bankers’ plan” for securing and taking care of new business that is especially attractive and profitable. The banker is always looking for every possible source of honorable profit. That is what makes for a successful banking busi ness. Here is a brand new avenue not heretofore presented. You will lose some legit imate profit not to look it over. W e are at your service. Great Western Accident Insurance Co. Des Moines, Iowa BE A PATRON OF YOUR LOCAL BANK. BUILD YOUR DEPOSITS BY SAVINGS. - - - BE A DEPOSITOR - - - T IE ROYAL UNION MUTUAL LIFE INSURANCE COMPANY DES MOINES, IOWA T AKE from in suran ce your an bank d eposit im portant part the of sm a ll your n e ce ssary e sta te . am oun t L ife annually in suran ce is to the m ake life in stallm ent m eth od o f acquiring enlarged e sta te s. PAYABLE IN CASH WHETHER YOU LIVE OR DIE FRANK D. JACKSON, President SIDNEY A . FOSTER, Secretary https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Good Agencies Open ■ August, 1918 THE NORTHWESTERN BANKER A Stock Company Paid-up Capital $100,000.00 Gross Assets 7-15-18, $2 1 4 .??8*00 The most attractive term proposition in the field; the big gest money-saver for the car-owner and the easiest seller for the agent. Rates and schedules that are simple ; easily understood by the agent and the prospect. The best guaranteed protection at reduced rates. The Inter-State in less than three years has become the best and fastest growing company in the business. Get connected with it before your territory is covered. iiiiHiuiiiiiiiiiinuiiiiiitHiiiiiiiiiiiiiiiiiiiniiiiimiiiinitiiiniiiiiiii Writing Fire , Lightning, Tornado , W in d and Theft. H O M E O F F IC E : R O C K R A P ID S , I O W A N . H A M P E , President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E. A . T O N N E , Secretary 29 30 THE NORTHWESTERN I E M O R Y H. E N G L IS H P re s id e n t JO EL T U TT L E S ecreta ry 1 | D e p o s ite d in S e c u r itie s W it h I n s u r a n c e D ep t, o f I o w a I | I | | 1 | i 1 i I A S S E T S M A R C H 30, 1918 M o r t g a g e L o a n s o n R e a l E s t a t e .................... $ S66,600.00 S c h o o l B o n d s ............................................................ 15,000.00 M u n ic ip a l B o n d s ..................................................... 58,500.00 U. S.‘ G o v e r n m e n t B o n d s ....................................... 95,900.00 C e r tific a te s o f D e p o s i t .......................................... 110,683.70 C ash in B a n k s ............................................................ 81,791.51 C ash in O ffic e .............................................................. 1,104.43 A c c r u e d I n t e r e s t ..................................................... 3,254.10 N o te s B e a r in g I n t e r e s t a t 6 % ......................... 162,652.50 2,058.51 P re m iu m s in C o u rse o f C o l l e c t i o n .................... | I I 1 | | | | 1 | | 1 T o t a l A s s e t s ........................................................$1,397,544.81 S e c u r itie s o n D e p o s it w it h I n s u r a n c e D e p a r tm e n t o f I o w a ................. ............................ $1,012,600.00 I CAPITAL ONE MILLION DOLLARS I | Fidelity and Surety Bonds Burglary Insurance Workmen’s Compensation Automobile and Other Public Liability Lines Home Office, 715 Locust Street, Des Moines, Iowa Io w a ’s L e a d in g L ia b ility In su ra n c e | 1 CEDAR RAPIDS, IOW A according to occupation, is worth noting, although it does not take into consideration the effect of mental strain on the death age : Av. age at death Bookkeepers and office assistants......................... 36.5 Enginemen and trainmen (railway)..................... 37.4 Plumbers, gasfitters and steamfitters........... . . . . . 39.8 Compositors and printer's.............................. 40.2 Teamsters, drivers and chauffeurs......................... 42.2 Saloonkeepers and bartenders................................. 42.6 Machinists ............................ 43.9 Longshoremen and stevedores................................ 47.0 Textile mill workers. ................................................. 47.6 48.0 Ironmolders ................. Painters, paperhangers and varnishers................. 48.6 Cigarmakers and tobacco workers......................... 49.5 Bakers ........................................ . .. ............. ......... 50.6 Railway track and yard workers............................. 50.7 Coal miners................................................................ 51.3 Laborers ............. 52.8 Masons and bricklayers.............................. 55.0 Blacksmiths............................................... 55.4 Farmers and farm laborers...................................... 58.5 All o c c u p a t i o n s ........................ Every Banker Every Bank Customer should have his income protected against sickness or accident! (P e r s o n a l I n ju r ie s ) W o r k m e n ’ s C o m p e n s a tio n L ia b ilit y A policy without a limitation or exception covering any and all ac cidents or sickness, benefits from first day of disability— Principal sum, $5,000— Cost annually, $36. G e n e ra l, P u b lic , T e a m s a n a E le v a t o r L ia b ilit y I n s u r a n c e S erv ice B e s t I o w a ’s L e a d in g A u to m o b ile In su ra n c e C o m p a n y Iowa Autom obile Mutual Insurance Com pany CEDAR RAPIDS, IOW A A u t o m o b ile F ire , L ig h tn in g , T h e ft , T o r n a d o an d C o llis io n In su ran ce B r o a d e s t F u ll F lo a t e r P o lic ie s L o w e s t R a te s , S e r v ic e B e st A g e n t s w a n te d . We also have a new and liberal policy for farmers. Write for agency application contract now. You will find it a profitable connection. Inter-State Business Men’s Accident Association Ernest W. Brown, Secretary-Treasurer Brown Hotel Des Moines, Iowa A d d r e s s in q u ir ie s C. J. D U N C A N , V ic e P re sid e n t an d G e n e ra l M a n a g e r In su ra n c e B ld g ., » 1 2 Second A v e . E a s t C edar R a p id s, Io w a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 47.9 GOSPEL OF HEALTH. The scarcity of physicians following the large en listment and the fact that no newly graduated med ical students will practice until after the war, make it all the more necessary that all measures for the im- A u t o m o b ile P r o p e r t y D a m a g e L ia b ilit y a n d C o llis io n L o w e s t R a te s August, 1918 Com pany Iowa Mutual Liability Insurance Company A u t o m o b ile P u b lic L ia b ilit y I BANKER Oldest and Strongest Organization of Its Kind August, 1918 THE NORTHWESTERN HAWKEYE SECURITIES FIRE INSURANCE CO. AN AGENCY (ORGANIZING) ' Capital $1,000,000.00 OFFICERS AND DIRECTORS R . S. H O W E L L , P re sid e n t W . S. H A Z A R D , JR ., V ic e P re sid e n t H . C. H A R G R O V E , V ic e P re sid e n t p L E O T. K E R W IN M erch an t O e lw e in r a n k M cD a n i e l C a p ita lis t W o o ls t o c k C. M . G A R V E R , T re a su r e r H . S. B U T L E R S e c re ta ry E . G. D U N N , C o u n sel A L B E R T CORDES C a p ita lis t O sa g e h h< p e t e r s e n B anker L ow den s P' P S ™ ' B r id g e w a te r JA S. L . M A N U E L C a p ita lis t B r itt GEO. W . F R Y C a p ita lis t V in to n J. M . B L A C K B U R N D e s M o in e s In c o r p o r a te d u n d e r th e la w s o f Io w a . W i l l b e o w n e d , o p e r a te d an d r e p r e s e n te d b y I o w a m e n , a u d ite d and s u p e r v is e d b y th e S ta t e o f Io w a w ith c a p ita l a n d a s s e t s lo a n e d to Io w a c itiz e n s o n Io w a s e c u r itie s , m a k in g it in e v e r y s e n s e a n Io w a c o m p a n y f o r I o w a p e o p le . O p p o r tu n itie s f o r liv e , w id e -a w a k e c o u n tr y b a n k e r s to a c t a s a g e n ts in b o th th e fire in s u r a n c e a n d m o r tg a g e lo a n d e p a r tm e n ts . W r i t e f o r th e a g e n c y in y o u r c o m m u n ity . J8 0 7 31 TH E CHARACTER COMPANY DES MOINES, IO W A Authorized BANKER • With N ATIO N AL F ID E L IT Y by any BANK or BANKER will PROVE an ASSET. Policies BRQ AD ER in their coverage, closer co-operation in securing business. A L L claims paid SAME day completed proofs received. Information is valuable. At least investigate, K N OW for yourself the correctness of NA T IO N A L F ID E L IT Y claims. Write the Company. National Fidelity Life OF IOWA H o m e O ffice S io u x C ity , U . S . A . R alp h H. R ic e , P r e s id e n t P. S.— N O COM PANY in e x is te n c e sh ow s g r e a te r re co rd fo r A C C O M P L IS H E D R E S U L T S and S E R V I C E to p o lic y h o ld e r s fo r a lik e a g e . 1918 AGE STRENGTH S T A B IL IT Y 5 1 Y e a r s o f B e s t S e r v ic e M ake T h e E q u ita b le L if e O F IO W A A Real District Manager Is wanted for one of the best terri tories in the most prosperous sec tion of the nation. This is a real opportunity for a first class man. Write BANKERS LIFE COMPANY DES MOINES Safe and Dependable for Bankers and Their Customers H O M E O F F IC E D E S M O IN E S , IO W A S e r v ic e t o P o lic y h o ld e r s L iberal P o licie s— L o w e s t C ost— P rom p tn ess in Settlem ent o f C laim s Has M ade O u r R ep u ta tion U n e x ce lle d . S ta b ility and S e c u r ity Guaranteed by deposits of over $2,190,000.00 with the STATE OF IO W A Excellent Territory in Iowa and other States open to LIVE HUSTLING AGENTS M erch an ts Life Insurance C o. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RegisD ^ i n e M o “ ng 32 THE H o w a r d J. C la rk H . W . B y ers NORTHWESTERN C h a rle s H u tc h in so n Clark, Byers & Hutchinson ATTORNEYS AND COUNSELLORS AT LAW Des Moines, Iowa General Civil Practice. Prompt and careful attention given to all business entrusted to us. Attorneys for the Iowa National Bank, Des Moines National Bank and Des Moines Savings Bank. M R. COUNTRY BANKER How would YOU like to help US help YOU make some money? We are putting out the best accident and health policy for farmers you ever saw. No assessments, no mem bership fee, no five-year notes—Just a clean, straight contract, backed up with a quarter of a million dollars in assets. We can help you sell it. Ask us about it. BANKER August, 1918 provement of health conditions must be supported with the greater energy. Now more than ever people cannot afford to be sick. Sickness and death in America help win the war for the Hun. Life insurance salesmen are peculiarly situated to help spread the gospel of health, hygiene and periodic examinations. FINE WORK BY THE THRIFT PRESS. A number of very fine booklets issued by the Thrift Press, of Peoria, 111., have been received and read with much pleasure. This firm specializes in bank adver tising and savings club systems, covering the field in a very thorough manner. One of their specialties is the preparing and printing of individual bank house organs. Their connection in this respect with many of the larger banks throughout the country brings them very closely in touch with the WHY BANKERS find a c o n n e c t io n w it h p le a sa n t. th e W e s t e r n L ife p r o fita b le a n d Because: S a tisfied p o lic y h o ld e r s b o o s t f o r th e C o m p a n y . I n t e llig e n t a n d r e lia b le field m en. W e e x te n d a s p e c ia l in v it a t io n to y o u to c a ll a n d see us w h e n in D e s M oin es. J a s . H . J a m is o n , P re s ld e n t H a r r y D . S t. J o h n , S e c re ta r y A . D . S tru th e rs, V ic e P r e s id en t a n d T r e a s u r e r M . M . D e m in g , A g e n c y D ir e c to r Bankers Accident Insurance Co. Des M oin es, Iow a Capital $100,000.00. Over a Million Dollars Paid in Iowa Claims. EXPERIENCE FACILITIES SERVICE ELLIS AND HOLLAND CO. DES MOINES, IOW A G eneral A gen ts FOR ALL KINDS OF INSURANCE Wanted— A General Agent IN EVERY COUNTY IN IOW A Men without insurance experience, but who have been successful in other lines, will be con sidered for these positions and will be thor oughly trained and instructed. Ambitious men are offered opportunities not available with older companies. This company has the larg est paid-up capital of all life companies organ ized under the Iowa laws. Write to Home Office State R ep resen ta tiv e lor N orthw estern D e s M o in e s Fire and M arine L ife and A n n u i t y Insurance Co. Com pany https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M in n eap olis Register-Tribune Bldg. Des Moines, Iowa THE August, 1918 NORTHWESTERN banking conditions and the changes which are taking place. It enables them to prepare copv which is not only interesting to the bank’s customers but also in structive. Their argument for publicity along these lines is that it enables the banker to reach his patrons and prospects in a way in which he cannot do by any other kind of advertising. Among other material prepared by this company is the Farmers Handy Account Book and Business Rec ord. It has been prepared to meet the new income tax law requirements and specialists have commented on it very favorably. A recent letter from their president brought out this valuable point: “ The progressive banker of today by all means should not cut down on his advertising on account of the war but should rather mould his publicity plans along the Co-operates With Bankers Collects all Renewals Through Banks G o o d Contracts CJ3.JZaM>ins. J ir e s CJ3. S v o b o d a , HOME O F F IC E : C E D A R R A P ID S , S ecy. IO W A 33 BANKER BANKERS Of Minnesota and the Northwest We have a most unique and profitable Agency Con tract TO MAKE W ITH YOU—carrying with it first year and renewal commissions. W ith our proposi tion you can MAKE GOOD with our wonderful MULTIPLE PROTECTION. Golden Jubilee Souvenir Policy “IT PAYS 7 W A YS” FIRST W A Y $100 per month for Disability from Accident. SECOND W A Y $100 per month for Disability from Sickness. THIRD W A Y $50.00 per month during life for Permanent Disability and $5,000 at death. FOURTH W A Y $5,000 Cash and $50 per month during life for accidental loss of two limbs, or sight, and $5,000 additional at death. FIFTH W A Y $31.60 per month during life beginning at age 65. SIXTH W A Y $5,000 for Natural Death. SEVENTH W A Y $10,000 for Accidental Death. GUARANTEED BY $45,000,000 ASSETS and the far-famed Cali fornia Corporation Laws. 100,000 Policyholders. $190,000,000 Insurance in force. The interest earnings on assets, 6.31 per cent. Total paid to Policyholders, more than $53,000, 000. BANKERS are ideal life underwriters. want you to represent us. Capital $500,000.00 Fully paid up and deposited with Iowa In su r a n c e Departm ent A g g r e s s iv e M anagement B r o a d P o l i c i e s C o n s e r v a tiv e U n d e r w r itin g C o n s is te n t S e r v ic e Charter Amended to Allow Increase in Capital to $1,000,000. Stock now being sold. W rite for Agency to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A. G. OGLE 2nd Vice Pres. & Gen’ I. M ngr. WE SEVENTEEN (17) SUBSTANTIAL REASONS W H Y YOU SHOULD SELL PACIFIC M UTUAL POLICIES. 1. W e write both .participating and non-participat ing insurance. 2. Monthly Income feature SECOND TO NONE. 3. DOUBLE indemnity for accidental death. 4. Top Notch Commission contract, with renewals. 5. Education in our School for Salesmen. 6. Multiple Protection Policy; health and accident with life. 7. Company fifty years old January 2, 1918. 8. Strength, $45,000,000.00 of assets. 9. Next to lowest actual to expected mortality. 10. Benefits of the Company’s Big Tree Club. 11. $50.00 prize for ten and over applications five out of six months. 12. Assistance of special agent. 13. Largest life insurance company west of Chicago. 14. Company doesn’t solicit but cares for sub-stand ard business. 15. Birthday, change of age cards with personal let ters from this office. 16. Permanent total disability, $10.00 per $1,000.00 per month and face of policy at death. 17. Company endorsed by insurance departments and leading business men of the country. For particulars call on or address M. J. Dillon, Gen eral Manager Pacific Mutual Life Insurance Co., 16056 Pioneer Building, St. Paul, Minnesota. Telephones: N. W. Cedar 1589— T. S. 22 667. 34 THE NORTHWESTERN W e Guarantee to Save Four Premiums O n a T w en ty P a y Policy and Give Dividends Besides. Our Service to Policyholders makes our Policies sell and our agents make m oney A Farm Mortgage Behind Every Policy Peoria Life Insurance Co. Peoria, Illin ois Protect Your Loans A d d to your security on loans to farmer customers by writing a policy of insurance on his live stock. Farmers Live Stock Insurance Company Authorized Capital C . A . R O B B IN S P r e s id e n t and Surplus I. J. K E T M A N S ecreta ry $ 1 ,0 0 0 ,0 0 0 A . O. H AU G E T reasu rer 318 V alley N ational B ank B u ild in g https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des M o in e s, Iowa August,: 1918 lines of the changed conditions and be ready to con sult with and advise his customers. Many new busi ness ventures will be promoted at the close of this war and the banker’s advice and counsel will be sought more than ever before. There is a wonderful oppor tunity for the banker who works along these lines and keeps himself prepared to meet after-war problems rather than to wait and see what may turn up.” MINNESOTA BANKERS ASSOCIATION. The following officers and committees were elected at the annual meeting of the Minnesota Bankers Asso ciation which was held at Minneapolis : Edgar L. Mattson, president, Midland National Bank, Minneapolis; M. J. Dowling, vice president, Olivia State Bank, Olivia; C. H. Draper, treasurer, First National Bank, W ells; G. H. Richards, secretary, Minneapolis. ' Vice President American Bankers Association for the State of Minnesota—W . A. Ma.hl, cashier, First. Na tional Bank, Winona, Minn. Member of Executive Council, American Bankers Association for the State of Minnesota— Cliff;W. Gress, vice president, . Citizens State Bank, Cannon Falls, Minn. Member Nominating Committee, American Bankers Association for the State of Minnesota— M. J. Dowling, president, Olivia State Bank, Olivia, Minn. The Minnesota Loan & Trust Company, Minneap olis, is one of a syndicate of bankers who will sell the $5,000,000 of 7 per cent first mortgage gold bonds, due January 15, 1922, that has recently been placed on the market by the Twin City Rapid Transit Company. As a Banker I Believe in Life Insurance Because— 1. It is the best known method to protect one’s estate. 2. It is a good investment, which will never depreciate in value nor be encumbered with taxes. 3. The government has placed the stamp of approval upon life insurance by sup plying it to the soldiers. 4. Life insurance is the best teacher of thrift in the community. 5. The investments made by life insurance companies are the highest class of se curities and the policyholders’ money is absolutely safe. Banker agents wanted. W e will insure hogs. BANKER CENTRAL LIFE T H R IF T POLICIES FURNISH 100% PROTECTION Total Disability, Double Indemnity, Loan Insurance— all in one policy. Central Life Assurance Society of the United States DES M O IN E S, IO W A August, 1918 THE NORTHWESTERN BANKER 35 A Kansas Farm ers’ Club House HIS attractive building was erected in order that farmers of the community might have a place to meet for discussion of various prob lems and for entertainment. The young folks use the building for socials and other gatherings and in this way build up the social life of their community. The club house has been the means of opening the eyes of the young people to the possibilities of the farm and has shown them that farm life can be made even more pleasant than city life. In the club meetings the farmer who has success fully raised some new crop or has tried some new farm machinery on thp farm that has proved profit able passes this information on .to his fellow mem bers so that they may profit by his experience. Be cause of this exchange of ideas these people are pros perous and are continually bettering their condition. Successful Farming is fully in sympathy with the T spirit which prompted the building of this club house, because this spirit is vital to the ideal development of any community. In fact, Successful Farming is itself a great farmers’ club with more than 800,000 members. Every sub scriber to Successful Farming is a member of this club. As such a member he or she is entitled to all the benefits and privileges of the club. Thousands of these members are continually experimenting with new ideas. Many of these ideas prove practical and are sent to us to be published in the magazine or filed for reference. By this means every member of the Successful Farming Club may profit by the experi ence of other members. And in addition to this, special departments have been added for the sole purpose of better serving members. B A N K E R S— L E T US HELP Y O U INCREASE Y O U R DEPOSITS INVESTIGATE OUR FREE ADVERTISING SERVICE Many of the farmers in your community are of the class above referred to. They are enterprising, broadminded and desire to progress and to make greater profits. They are open to conviction, and the salient features of your bank and its service, properly pre sented to them through advertising, will interest them. To one bank in each town, we will furnish without cost a six-months’ advertising campaign that will, without question, substantially increase deposits. This campaign has been perfected by our merchan dising experts in co-operation with men of wide bank ing experience. It has been planned to reach your farmer customers and the farmers in your commun ity who are not your customers. The advertising service we offer you combines the three fundamental requisites : newspaper display, per sonal letters, and personal interviews with the pros pect in your own bank. This service includes as many Farmers’ Record and Account Books as you can distribute among your pres ent and prospective customers. This book is endorsed by the Federal Department of Agriculture and is so ar ranged that it will enable the farmer to easily make out his own income tax report, and show him the profit able and unprofitable branches of his farm business. WRITE NOW FOR COMPLETE INFORMATION A request on your bank stationery will bring you, ■postpaid q,nd without obligation, fu ll details and samples of the various units comprising this complete campaign. Write now while you have the matter in mind BANK SERVICE DEPARTMENT SU CCESSFU L F A R M I N G “ THE FARMERS’ SERVICE STATION” E. T. MEREDITH, Publisher https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DES MOINES, IOWA THE 36 NORTHWESTERN August, 1918 BANKER Securities, Bonds and Mortgages B y Frank M. H uston Each month Mr. Huston presents under this department lines are also being drawn Demand for high-grade a very timely synopsis of financial affairs as they relate more closely between pro bonds continues unabated, especially to bonds and mortgages and we are sure that duction essential in war especially in the municipal our readers will find much valuable information in the times and the so-called material here published. Mr. Huston was for years the line. Investors are ex financial editor of The Chicago Herald and is well and fav non-essential manufacture. changing their taxable mu orably known throughout the country. One of the most difficult nicipal and state bonds for problems confronting the non-taxable securities, and business man who is not they are gradually shift ing, as far as possible, their investments in other se actively engaged in the manufacture of munitions or in curities, because of the probability of heavier taxation producing food products is to determine what is and being imposed in the pending war revenue act. This what is not essential production, in the sense that is has improved the market for municipals, both as to applied to war time. The natural definition would be that a product is breadth and price. It has not been long since Massachu setts’ tax-exempt bonds were selling on a 4.40 per cent essential when it is needed in waging war,, or in sus basis. They have advanced to better than a 4.25 per cent taining the people during the period of war. All will basis. Boston city bonds, which a short time ago were agree that idleness is non-essential, in fact, it is an selling around 4.60, are quoted at present to net about actual menace in war times, for it not only embraces waste but it contributes to dis 4.35 per cent. Obligations of satisfaction and places a bur large cities of the West and den of sustenance on the coun “Taking the country as a whole, and disre South, which a few weeks ago garding local and spotted developments growing try that should not exist if the were selling on a 4.70 and out of influences restricting non-essential in resources are to be utilized to 4.80 basis for the more desir dustries, the traditional business barometers in the fullest possible extent as is able, are now quoted around dicate a highly prosperous condition. Neverthe needed in a war of the extent less, it is becoming increasingly apparent that 4.40, while New York City the distinction between volume and value of that is now being waged in bonds have advanced corre transaction is growing more discernible, and Europe. In drawing the line spondingly. that the lines are also being drawn more close between essential and non-es New capital, however, con ly between production essential in war times sential industries, therefore, and the so-called non-essential manufacture.” tinues to command a compara great care is necessary that a tively high investment return. curtailment of production does The American Telephone and Telegraph Company’s fifty-million dollar, seven-year, not result in plant and individual idleness, for such six per cent convertible bonds at current prices net contributes to unnecesary waste. There is a considerable amount of this class of idle about 7.13 per cent. There are many high-grade securi ties, representing essential industries or essential enter ness at the present moment, due to a lack of proper co prises, available to investors, who are seeking both safe ordination and co-operation between industries and the ty and attractive investment returns. The absorption government. Many wood-working plants and plants of these offerings, however, indicates very clearly that in other lines of .production, through developments there is considerable investment capital, if the price which possibly could not have been avoided, have been forced to slow down if not actually close, thus disor and the goods are right. Taking the country 'as a whole and disregarding ganizing their forces and reducing the productive capac local and spotted developments growing out of influ ity of the country. It is necessary, therefore, in view ences restricting non-essential industries, the tradition of the fact that practically all of the energy and plant al business barometers indicate a highly prosperous capacity of the country is needed to support the gov condition. Nevertheless, it is becoming increasingly ernment in this war, that attention be given to the apparent that the distinction between volume and value conversion of these idle plants into production that can of transaction is growing more discernible, and that the be utilized during the war. H . E . H E N D E R S O N , T re a s u r e r I. C . S T A N L E Y , S e c re ta r y FARM LOANS iiiiiiniiiiiiiiiiiiiiniHiiiiiiiiiimiiimiiuiniiiiiiiiiiiiniiiiiiiuiiuiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiimiiiiiitiiiib 'iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiHiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii W e are prepared to loan on the best improved farms in Iowa, from $75.00 to $90.00 per acre, and are in a position to close such loans promptly. If a customer of yours has a first and second mortgage on. his farm, suggest that he put the loans in one and write us for terms and privileges. A m e r ic a n M o r tg a g e & S ecu rities C o m p a n y H o m e Office M a n c h e ste r, I o w a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CEDAR RAPIDS, IOWA CAPITAL $200,000.00 Surplus and Profits $25,000.00 General offlce H i g le y B u ild in g C ed ar R a p id s , Io w a August, 1918 THE NORTHWESTERN A year ago when so much emphasis was laid on the necessity of curtailing the things we do not need in order to increase the production of the things that are imperative, attention was called to the danger of a misinterpretation of these statements. The people were warned that what was needed was a shifting from the less essential to the more essential industries, letting the natural developments attendant upon that shifting process bring about the curtailment of luxuries and other things that we really do not need under the con ditions. This would have meant a shifting of plant ca pacity from a more or less non-essential industry to a production imperative to war times without any per ceptible idleness or disorganization of working forces. Necessarily the war industries being under greater pressure and affording the more profitable return would pay the higher wages and thus cause some disarrange ment in the labor world, but this could not be helped. The throwing of working forces into idleness or forc ing them to shift about through the closing down or curtailment of plant operation is a serious develop ment under present conditions as it curtails income, reduces the ability to purchase government security and support the various war loans and restricts buying power generally among that class of workmen and of those dependent upon them, without contributing any corresponding beneficial result. The entire plant capacity of this country is needed to care for the needs of the government, the people and our allies in this war. The construction of new plants to make up deficiency is apt to result in an unnecessary burden on business either during or after the war. If it were possible to utilize the full plant capacity of the country and thus reduce the amount of special plant Schanke & Company Bankers BANKER 37 OUR SERVICE TO BANKERS VII. For Recording Your Investments EARS of experience in dealing in bonds have shown us that the average individual in vestor, as well as many banks, have diffi culty in keeping a satisfactory record of their bond and other security holdings. To meet this situation and as a service to investors we have prepared for free distribution— which are compact, practical and, while adapted pri marily to bonds, can also be used in recording other investments. The three sets are: 1st— For Individual Investors. 2nd— For Institutions Purchasing for Invest ment. 3rd—For Institutions Doing an Active Bond business. Y three sets of forms for a bond and security register Please apply for the forms meet ing your individual requirements. H A L S E Y , S T U A R T & CO. IN C O R P O R A T E D — S U C C E S S O R S T O N . W . H A L S E Y & C O ., C H IC A G O 2 0 9 S O U T H LA S A LLE S T R E E T N EW YORK PH ILA D ELP H IA D E T R O IT BOSTON M ILW A U K E E S T . LO UIS Tax Exempt Municipal Bonds 1III1IIII1IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIM I M U N I C I P A L 1 ( b o n d s ; 1 FREE j| FROM INCOME TAX Bonds of solvent communities, payable from taxation, are recognized forms of investment for insurance companies, sav ings banks and trustees. F A R M M O RTGAGES We solicit inquiries. Descriptive circu lars sent on application. Commercial Paper No charge for collec tion and remittance of IN TER EST and PRINCIPAL S E N D FOR LIST We own a carefully selected list of over thirty issues of High-class County, City, School, and Drainage Bonds, netting from 4.70 to 5 per cent. Twenty-seven years investment Bank ing experience without a loss to a client. OUR GEO. M. BECHTEL & COMPANY Davenport, Iowa Mason https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis City, Iowa Chicago, Illinois Established 1891 38 THE NORTHWESTERN 1 in ToJBanks Seeking Safe Investments for their'own funds or their cus tomers’ , we offer 6 % First Mort gage Real Estate Bonds in de nominations of f r o m $50 to $ 1000. Secured by direct closed first mortgages on high grade apart ment houses,^ hotels o r office buildings conservatively apprais ed at about twice the amount of the bond issue, these bonds offer an i d e a l investment for your surplus funds. l-fj Maturitiesjfrom 2 to 10 years. Interest payable] semi-annually. Details on request. Bankers Realty Investment Co. Continental and Commercial Bank Bldg. CHICAGO, ILL. BEE BUILDING, OMAHA, NEB. [n V ittlT E C o A f p \x IN V E S T M E N T (5--------B A N K E R S •— - s PU TN A M D IO W A *** B L D G a v e n p o r t ,I o w a M U N IC IP A L , BO N D S BANKER August, 1918 capacity constructed for war purposes, the readjust ment following the war would be less disastrous than otherwise, and at the same time the overhead charges, which someone must pay, would be held down. Fortunately the War Industries Board and govern ment officials appreciate this situation and are discour aging wherever possible the construction of new plant capacity, much of which would be of little use when peace is restored, because of its temporary character. Another reason for this is, of course, the effort to con serve the capital supplies of the country as far as pos sible for the government’s needs in the way of general war financing. The building of a factory ties up just that amount of credit in the form of fixed capital, where as the utilization of capital already existing in fixed form with the application of the necessary credit is made to produce if co-ordinated and fitted into war pro ductive purposes. There is considerable misapprehension regarding many industries that are classed as non-essential. An instance of this is the automobile industry. The manu facture of pleasure cars has long been looked upon in this country as a luxury and to a considerable extent it has been a luxury, but John N. Willys points out that the automobile is more than a mere luxury; it is a util ity, and in these days with restricted railroad transpor tation facilities, the automobile is playing a greater part in our transportation scheme than most people appre ciate. Mr. Willys points out that twenty-five million or one-fourth of the country could be transported one hun dred miles in a single day on a single filling of gasoline by the five million motor vehicles in use. The country is slowly adjusting itself to a war basis, and were the business men of the country more able to quickly ascertain just what part in this shifting process each should take to play, the results would be much more satisfactory to all concerned. Nevertheless, the undertaking is so gigantic that it is unreasonable to expect that all of this can be accomplished without some hardships and without some misdirected effort. The developments of the last year have been simply remark able, and while the business man may feel some irrita tion because of difficulties encountered in his individual business affairs, it is well for him to bear in mind the results that have already been attained in this transfor mation of a free, happy, peace-loving and pleasure-bent people to a belligerent nation. Confidence in the future is being strengthened by the continued promise of abundant harvest. Nature is doing its part and this means much not only for the success of the military forces abroad but to lighten the ¿«3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3lfllllllllllC3lllllllllllinilllllllllllC3llllllllllllC3IIIIIIIIIIIIC3llllllllllliailllllllllllC3llllllllllllC3llllllllllllC3IIIIIIIIIIIinilllllllllllCailllllllllilCailll!IIIIIIIC3llll!IIIIIIIC3IIIIIIIIIIIICailllllilllllCailllllllllllC«& FARM LOANS WANTED B W e have a large amount of m oney to lend on Iowa farms on advantageous terms | and at low est rates. W e w ant connections in Iowa, M innesota and South Dakota, w ith a = v ie w to handling a steady volum e of good loans to our mutual advantage. | W rite us for terms and tell us w hat you have. Leavitt & Johnson Trust Company I i 1 I | | | I WATERLOO, IOW A CARLETON SIAS, Vice President C. R. DAVIS, Vice President ™ T Tnu\Tön\T E* J ° HNSON, President U Capital and Surplus - $400,000.00 Oldest Loan Agency in Iow a GEO. W. WILLIAMS, Secretary | W. C. LOGAN, Treasurer § | ¡ •;<>3I1III1IIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIII1IIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3III1IIIIIIIIC3IIIIIIIIUIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IIIIIIIIIIIIC3IUIIIIIIIIIC3IIIIIII1I1IIC3IIIIIIIIHIIC3IIIIIIIIIIIIC^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis August, 1918 THE NORTHWESTERN burden which war conditions necessarily impose on the citizens at home. Weather conditions generally have been favorable to crops, and the outlook at this time has seldom been equaled. The cotton crop has made steady progress, and the most reassuring feature aside from our national production is the progress being made in our ship-building program assuring us of transportation facilities to carry our supplies to our military forces abroad and to the allied nations. .Traffic conditions uporl the railroads have been fair ly good and the production of coal, coke and steel has been close,, to capacity which lightens the burden grow ing out of the fuel situation although there are still problems in that direction yet to be solved. In all sec tions the labor shortage is complained of and yet in many of our larger cities are men who have not yet adjusted themselves to war conditions. Government control over the employment agencies of the country will tend to co-ordinate these factors and check the com petition in labor which is tending to cause perplexing problems in industries. Government control over in dustries is rapidly being extended and its authority is being used to transfer labor to facilitate the progress of government work. The money market has passed through a severe test. The heavy payments falling due in June were met with little of the strain which had been anticipated earlier in the year. The credit machinery of the country is operating satisfactorily but there is still need for a more complete mobilization of the banking reserve of the country in the Federal Reserve through the appli cation of state banking institutions for membership in the reserve system. This is a patriotic duty as well as an individual protection which should be more fully appreciated by the state banks and their management and by business men generally. The theory that they can protect themselves by utilizing the facilities of their correspondent bank at the reserve centers is not a sufficient safeguard for the time may come when that correspondent bank will have need for its entire facility and will be unable to act as an intermediary for the non-member institution at the Federal Reserve Bank. The chief thought should be that business must be pro tected and assured of the necessary credit facility at all times during the war period. IOW A C. P. A. CONVENTION. The Iowa Association of Certified Public Account ants will hold its annual convention in Des Moines on August 22d and 23d. BANKER 39 A feature of the convention will be an open meet ing and banquet to which a number of bankers and business men will be invited and some of whom will appear on the program. CITY FARM LOANS LOANS Negotiated by the Home Securities Company Sioux City, Iowa AUTHORIZED CAPITAL $1,000,000 Loans, Investments and Securities W e make Loans and buy and sell Mortgages on Iowa, Nebraska, Minnesota and South Da kota farms, and on improved City property. P. H. PILCHARD President G. F. HUGHES Vice President A. G. HESS Secretary G. C. ROBINSON Treasurer The NATIONAL BANK of the R E P U B L I C OF CHICAGO Offers adequatefacilities for the accounts of hanks and hankers. JOHN A. LYNCH...............President WM. B. LAVIN IA. . . W. T. FENTON____ 1st V. P. & Mgr. THOS. D. A L L I N .. . HOBT. M. MeKIN N EY.2d Vice Pres. LOUIS J. MEAHL. . . OSCAR H. SW A N ................... Cashier WM. C. FREEMAN. CHAS. S. MACFERRAN, Asst. Cashier. .Asst. Cashier L E T U S C O - O P E R A T E W I T H Y O U In the handling o f all classes o f F A R M LO A N S To bankers who wish to handle their loans through one source, we have a proposition for co-operating with you that will prove both prof- M ID L A N D itable and satisfactory. We want active connec tions in every community. No delay in closing loans. Prompt service. Write us today. M ORTGAGE COM PANY C AP ITA L $60.000.00 CEDAR RAPIDS, IO W A OFFICERS AND DIRECTORS: F. C. Waples, President Clifford DePuy, Vice Pres. Keith Vawter, Vice Pres. A,. H. Bierkamp, Sec’y-Treas. Robert S. Sinclair W . W . Otto W . L. Cherry https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 40 THE NORTHWESTERN BANKER August, 1918 For Bankers and Their Wants This department of T H E NORTHW ESTERN BANKER is to assist SUBSCRIBERS in obtaining goods or service hard to find. It is free. Use it. ASK US, as we can 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 three-cent stamp. This is used to forward your letter. H O W THIS D EPARTM EN T SERVES YOU. This is a regular department of T H E N ORTH W ESTERN BANKER, to assist subscribers in obtain ing goods or service hard to find. Institutions seeking high-grade men and bankers seeking a better connec tion should T E L L US—as your “ want” will be pub lished under the above heading free of charge. It is the direct route to securing the position or man you desire, ASK US, as we can tçll you where to buy anything you need in your bank or for your bank, including bank fixtures, safe deposit boxes, vaults, metal furniture, the service of bank architects and builders, typewriters, adding machines, ledger and bookkeeping systems, electric signs, advertising novelties, calendars, check protecting machines, books on banking and banking law, safety paper, lithographed checks and drafts, serv ice of certified accountants, advertising service, fidelity and surety bonds, burglary insurance, life insurance, electrical burglar alarms, accident insurance, phono graphs, dictating machines, the best service from city banks and correspondents—in fact, ASK US about anything you want to buy or any service you wish to secure. This is a complimentary service to our readers and may be worth many times the price of a year’s sub scription to The Northwestern Banker. W e will place you in communication with reliable firms or expert service men, lay before you the infor mation we possess, or publish a blind advertisement securing as many propositions as possible from re sponsible parties, without charge. Please enclose a three-cent stamp for reply. SAFE D EPO SIT BOXES— Several second-hand sections cheap. Vault doors, steel filing devices. I specialize in vault equipments. Chas. Stayman, fac tory agent, Fort Dodge, Iowa.—6 T. F. S E C U R IT Y Experienced young banker, above draft age, wants to buy controlling interest or substantial working in terest in good live town in farming community. Prefer Northern Iowa or Southern Minnesota. All corre spondence strictly confidential. Address No. 2200, The Northwestern Banker.—8. Wanted— Position as cashier in good live country town. Have the experience and would buy some stock. Address No. 2201, The Northwestern Banker.—8. Wanted— By young man, past draft age, position in good bank as assistant cashier, town 1,000 population or larger preferred. Three years’ experience. Good references furnished. Address No. 2202, The North western Banker.—8. Wanted—A young man, not subject to draft, for gen eral counter work in a country bank. Some experience necessary. Address No. 2203, The Northwestern Bank er.—8. Wanted—Work in bank by lady of six years’ experi ence, three as bookkeeper and three as cashier of a na tional bank. Address No. 2204, The Northwestern Banker.—8. Wanted— Experienced man to take executive charge of small trust company in active operation; must have mortgage selling ability. Excellent opportunity. Ad dress No. 2205, The Northwestern Banker.—8, 9, 10. Experienced Banker with good record and references will consider change to larger town of 2,500 and up. Desires executive position with stock interest. Sioux City trade territory preferred. Address No. 2206, The Northwestern Banker.—8. Wanted— Position as cashier or assistant by married man 32 years old. Now employed as assistant, but N A T IO N A L BANK S IO U X C IT Y , IO W A Capital and Surplus $600,000 W . P. MANLEY, President T. A . BLACK, V ice President C. W . BRITTON, Cashier https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ? -* , ' L. R. MANLEY, A s s ’ t Cashier C. A. PATCH, A s s ’ t Cashier R. E. BROWN, A s s ’ t Cashier The Best of Service in Handling Collections and Accounts of Banks Founded 1884 August, 1918 THE NORTHWESTERN handling cashier’s work. Thoroughly experienced in all lines of work in a country bank. A -l bookkeeper and stenographer. Best of references. Can invest. Address No. 2207, The Northwestern Banker.—8. Experienced North Dakota Banker wants to purchase controlling interest in small bank in one of the western states, preferably Minnesota. Address No. 2208, The Northwestern Banker.—8. BANKER 41 BANKS CLOSE A T 2 P. M. The Des Moines Clearing House has adopted a reso lution under which the banks of the city close at 2 :00 p. m., starting July 15th. This action was taken as a war measure, and to facilitate handling the business under the present shortage of help. Position Wanted as cashier in country bank by man of several years’ experience who completed the course given by the American Institute of Banking. Over present draft age and prepared to make substantial in vestment. Address No. 2209, The Northwestern Banker.—8.______________________________________________ Wanted— Position in country bank, by married man, five years’ experience. No objection to small town. Address No. 2210, Northwestern Banker.—8 For Sale—-Wishes to dispose of present bank fixtures consisting of twenty feet of counter and rail oi fine quartered or antique oak, choice condition, price right. Write'Dakota State Bank, Tripp, S. D.— 8. BANK MAKES RAPID GROW TH. Recent statements show that the Bellevue State Bank, of Bellevue, Iowa, has enjoyed a remarkable growth during the past three years. In a recent letter, N. J. Ferring, cashier, states they attribute some of this progress to the fact that they J. K . D E M IN G President JAM ES M . B U R C H Vice-President H E R M A N N ESCH EN Cashier THE SEGOND NATIONAL BANK AND DUBUQUE SAVINGS BANK D U B U Q U E , IO W A O R G A N IZ E D 1 8 7 6 OFFICERS A N D D IR E C T O R S J. K . D E M IN G President N. J. FERRING Cashier Bellevue State Bank, Bellevue, Iowa. have followed suggestions found in the pages of The Northwestern Banker. He says they would not he without this magazine for double the subscription price. Mr. Ferring has been cashier of the bank since its organization in May, 1915. ___, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JAM ES M . B U R C H V . P. Farley & Loetscher M fg. C o . CH AS. H. BR AD LEY Bradley Bros. F R A N K B EL L Capitalist H E R M A N N ESCH EN Cashier J. T . C A R R Secy-Treas. Carr, Ryder & Adam s Co. G E O . W . KIESEL Hurd, Lenehan & Kiesel J. J. R O S H E K R oshek Bros. C o. Reserve Agents for National Banks United States Depositary Combined Resources - - $3,000,000.00 42 THE NORTHWESTERN M A N FU LLY PLA YIN G T H E GAME. (Continued from page 8.) breakfast every morning right now, and there isn’t a day goes by, any more, that the Sammies don’t have ‘‘fricasseed Hun” on their menu card. Wonder what our despairing and sympathetic souls think now about our “ dear boys,” who gave them so much concern? Not a ship has been lost. A rpillion good American soldiers in France. Fighters from the word “ go.” More than a match for the highly touted and unbeat able “ Boche.” Superior in courage and the ability to shoot straight. The boys are standing the test, as every real American and loyal citizen knew they would. They have met the picked troops of Kaiserdom and whipped them at every turn in the road. The enemy calls them the “ fighting devils,” and they know, for the Sammies have licked “ hell” out of the “ Hun” on each and every occasion and some of out brave Ger man boys from the good old U. S. helped do it. Our boys saved the day with Paris but a few miles away. They drove the invincible (?) “ shock” troops of the champion he-devil of the world back across the Marne, blew up his bridges and shattered his forces. They have successfully resisted all counter-attacks and have not yielded, as yet, a foot of ground. The deadly and accurate fire of our “ dear little boys” (who of course ought to be at home doing the chores) has demoralized the Hindenburg hordes and sent them reeling and roll ing and tumbling backwards, in every instance. The Yankee boys don’t seem to care a “ tinker’s damn” whether they are fighting devils from Potsdam or some other part of that hell-making country dominated by the Krazy Kaiser of Kultur. Beware of enemy propaganda. Many of these agents of the kaiser are cunning and subtle and clever and we must be wise as serpents in dealing with the yellow rattlesnakes, these vipers, wolves in sheeps’ clothing, camouflagers, pretenders, false friends, paci fists/ slackers, traitors, spies, bum patriots, copper heads, whose business it is to deceive you and me, hinder the government in the prosecution of the war and shoot the soldier boys from the rear, with their insidious, underground, star-chamber methods, their veiled innuendoes, criticisms made with an air of in jured innocence, sugar-coated lies about this and that, vicious lies anent the “ Red Cross,” damnable lies about our boys in camp, cantonment and “ over there,” sym pathetic lies to our American mothers and sweet hearts, any kind and all kinds of lies, new lies and old F. L. E A T O N , V ice President C. D. V A N D Y K E , Cashier BANKER August, 1918 lies, white lies and black lies, big lies and little lies, hateful lies and loving lies, lies as to Liberty Bonds, War Savings Stamps, Red Cross funds, Red Cross nurses, lies, lies, lies—anything, everything, the bitter and the sweet, love and hate, soft pedal or slam-bang, flatter, coax, palaver, soft soap, wheedle— threaten, drive, bulldoze, terrorize, frighten, anything to get your goat and mine, anything to weaken us in our whole-hearted allegiance to this war, anything, bomb ing, burning, plotting, lying, intrigue, double-dealing, hypocrisy, pretense—camouflage of every sort—why, these “ Hun” devils will even buy Liberty Bonds, War Savings Stamps (they are gilt-edge investments, you know), join the Red Cross, knit sweaters, and then lie about the ten-dollar bill they did not sew thereon, which they did not find on the manly form of some man to whom the Red Cross had not sold it. German propaganda is more deadly than German bullets, so be ware. If you are a good American citizen you will not stand for “ Hun” camouflage for a minute, and when some “ Kaiserine” makes seditious statements or tells some unlikely story, make him “ eat” it in the first in stance and prove it in the second, or report him. to the proper authorities. If you are a good citizen you will back the boys every foot of the way. The boys will take care of the “ Bodies” over there,' and we should take care of them over here. W e have some thousands of them locked up, but there are others running at large, and it should be our most agreeable duty, with the pleasure all ours, to put them where the dogs won’t bite them. The only way to secure an enduring peace, and se cure to all nations their just desserts, is to beat the life out of the enemy, whip him to a standstill, drive the Hohenzollern outfit off the throne, put Prussian militarism out of business, compel an unconditional surrender, substitute “ right” for might, and knock out, for the count, that other fool notion, “ the divine right of kings,” as though an old butcher with a withered arm and a wizened soul has any more divine rights than a hog with his snout stuck in a bucket of swillThe only peace worth considering is a victorious peace. A negotiated peace, with Germany unwhipped, is a farce, for no one, outside the central powers, would believe a Hohenzollern “ Hun,” even though he took oath on a stack of Bibles as high as the Statue of Lib erty. Beware the propagandist. Meanwhile the boys over (Continued on page 53.) G E O R G E S. P A R K E R , President A . W . SM ITH , Asst. Cashier CLIFFORD A T K IN S O N , A sst. Cashier THE LIVE STO CK N A T IO N A L B A N K Capital $200,000.00 Sioux City, Iowa Surplus and Profits LOCATED A T THE STOCK YARDS $100,000.00 Deposits $5,500,000.00 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE August, 1918 NORTHWESTERN BANKER ■n A book for every banker’s library SERVICE T O BANKS As an exam ple o f the breadth and thor oughness o f our studies, we shall be pleased to send you our m ost recent publication “ Internal W ar Loans o f Belligerent Countries.” This book contains a careful analysis o f the fin a n c ia l statu s Further, it of th e d iffe r e n t m inutely describes n a tio n s . each issue of securities which these nations have floated, in ternally, since the war began. T his book is u ndoubtedly the m ost com pre hensive reference work book o f its kind. which every far-seeing It is a banker should have in his investment library. It will be sent free to any officer o f any bank upon request. In writing, please ask for F K -88. T h e N ation al C ity C om p an y National City Bank Building New Y ork CO RRESPON D EN T OFFICES Albany, N. Y. Ten Eyck Bldg. Atlanta , Ga. Trust Co. of Ga. Bldg. Baltimore , Md. Munsey Bldg. C incinnati. Ohio Fourth Natl. Bk. Bldg. C leveland , O hio Guardian Bldg. D ayton , Ohio Mutual Home Bldg. Indianapolis , I nd. Fletcher Savings & Trust Bldg. K ansas Cit y , Mo. Republic Bldg. Los A n g e le s , Ca l . Hibernian Bldg. Boston , Mass . D enver , Colo . B uffalo , N. Y. D etroit . Mich. C hicago, III. McKnight Bldg. N ewark , N. J. 790 Broad St. H artford , Conn . N ew Or le an s , L a . 10 State Street Marine Bank Bldg.. 137 So. La Salle St, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7,817th Street 147 Griswold Street Conn. Mutual Bldg, Minneapolis , Minn . 301 Baronne St. P hiladelphia , Pa . Seattle , W ash . Pittsburgh , Pa . Springfield . Mass . 1421 Chestnut Street Farmers Bank Bldg. Portland . Or e . Railway Exchange Bldg. Providence , R. I. Industrial Trust Bldg. R ichmond, V a . 1214 Mutual Bldg. San Francisco , Ca l . 424 California St. Hoge Bldg. 3rd Natl. Bank Bldg. St . Louis , Mo . Bk. of Commerce Bldg. W ashington , D. C. 741 15th St.,N. W. W ilkes -B arre . Pa . Miners Bank Bldg. London, E. C. 2 Eng. 36 Bishopsgate, Bonds Short Term Notes Acceptances 44 THE NORTHWESTERN BANKER August, 1918 IOW A BANK NEWS CURTAILING UNNECESSARY LOANS. .Twenty banks of Guthrie county, Iowa, united in signing the following letter to customers, under date of July 1st, in harmony with the recommendations of the Federal Reserve Board: “ Up to the present time Guthrie county people have gone through the war easily. Slight sacrifices have been made to be sure, but outside of those whose dear ones have been called upon to bear arms, we have lived comfortably and about as well as usual. “ The time is at hand, however, when we shall feel the pinch. This month a greater number of Guthrie county boys must answer the. call than our total con tribution of soldiers has been since the war, and war activities and war burdens will be at once correspond ingly increased for those who stay safely at home. Living expenses will be higher, taxes will be much greater, the income tax will probably be doubled, new calls for funds will be made by the Red Cross, the Y. M. C. A., the Knights of Columbus, etc., and huge bond issues are near at hand. “ It is expected that at least six billions of Liberty Bonds will have to be sold between now and Novem ber 1st. The bond issue is being deferred a little in 'order that farmers may realize in part upon their pres ent crop. To meet government expenses until these bonds are issued, the government has called upon the banks to purchase its treasury certificates, on short time notes. All the banks in the country have been listed and each has been apportioned its quota of the amount to be raised, aggregating approximately twen ty-five per cent of all our banking assets, payments to be made every two weeks until the next Liberty Bonds are sold. “ The banks of Guthrie county have agreed to take their full allotment and in this undertaking will need the support and coroperation of all their customers. It may be necessary to curtail local loans, but the banks will undertake to extend accommodations to legitimate and necessary private business with the understanding, however, that the needs of the government must first be met. “ Under these conditions, we urge our customers not to undertake new enterprises that do not directly help in winning the war and we urge them to save every possible cent. There is no other way in which in dividuals can meet their share of our rapidly increas ing war demands. W e believe the main business of the country from now on will be to win the war. Ger many is not.paying any of her bills by taxation. It is her purpose to levy an enormous indemnity on us, to loot America as she has looted other countries and make us pay her enormous war debt. Neither your life nor your home nor any of your property will be safe until our armies are victorious. Let us face the facts squarely. Let us recognize that we have a hard job on our hands and that if we are going to defeat the Huns, we must first of all conquer our spirit of selfindulgence and easy living and settle down to habits of thrift and economy.” M ONTGOM ERY COUNTY BANKERS MEETING At the annual meeting of the Montgomery County Bankers Association, which was held in Villisca, Iowa, recently the following officers were elected: E. M. Coppage, First National, of Stanton, president; D. E. Lomas, First National, of Villisca, vice president; W. J. Roberts, First National Bank, of Red Oak, secretary and treasurer. The retiring officers are: B. B. Clark, Red Oak Na tional Bank, Red Oak, president; E. M. Coppage, First National Bank, of Stanton, vice president; C. F. Cadwell, First National Bank, of Elliott, secretar}^ and treasurer. This has been an especially strong association and its success is due to the splendid co-operation and untir ing efforts of the officers. It was originally organized for the purpose of selling Liberty Bonds. Among the speakers at different meetings during the year have been : E. R. Gurney, First National Bank, SS vv THE CENTRAL STATE BANK DES MOINES, IO W A Capital $250,000.00 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Surplus and Profits $250,000.00 OFFICERS SIMON CASADY, President GRANT McPHERRIN, Vice-President JOHN B. McDOUGAL, Cashier FRANK C. ASH. Ass’t Cashier REMEMBER OUR FOUR CARDINAL PRINCIPLES Absolute Safety. Courteous Treatment to All. Consistent Liberality. Promptness in Execution. THE August, 1918 NORTHWESTERN 45 BANKER “ The Bank That Service Built." Capital, $1,000,000 Deposits, $55,000,000 Surplus and Profits (earned), $3,675,000 The Seaboard National Bank OF THE CITY OF NEW YORK W e a llo w In te r e st o n b a n k e r s ’ b a la n c e s , an d p a y d r a ft s w h e n p r o p e r ly p re s e n te d . O u r c o m p e t it o r s d o lik e w is e ; h o w e v e r, th e “ P E R S O N A L S E R V IC E E L E M E N T ” is a d is t in c t iv e fe a t u r e w it h T h e S ea b o a rd N a tio n a l B a n k . Í A S E R V IC E IN C O R P O R A T IN G E ffic ie n c y R e a d in e s s C o n v e n ie n c e A v a ila b ilit y a n d e v e r y p h a s e o f b u s in e s s th a t p r o m o t e s h e lp fu l a n d m u tu a lly c o r d ia l r e la tio n s . C. C. C. C. T H O M P SO N , V ic e P re s id e n t S. G. B A Y N E , P re s id e n t J. D. B. L . G IL L , V ic e P re s id e n t H. W . D O N O V A N , C a sh ier B. I. W . K . C L E V E R L E Y , V ic e P re s id e n t J. E. Ó. M. J E F F E R D S , A s s is t a n t C a sh ier L. N. D E V A U S N E Y , V ic e P re s id e n t of Fremont, Neb.; Joe Long, Davenport, Iowa; J. L. Edwards, president of the Merchants National Bank, of Burlington, Iowa. The membership is composed of the following banks: Red Oak National, Farmers National, First National, Red Oak Trust and Savings, Red Oak; First National, Elliott Savings, Elliott; Stanton State, First National, Stanton; Villisca National, -First National, Villisca; Bank of Mortons Mill, Mortons M ill; Farmers Savings Bank, Grant; Coburg Savings Bank, Coburg. F I S H E R , A s s is t a n t C ash ier S M IT H , A s s is t a n t C a sh ier D A D S O N , A s s is t a n t C ash ier O R R , A s s is t a n t C a sh ier up of Civil War affairs, the bank grew and enjoyed prospeaity. The fifty-fifth anniversary was celebrated quietly but the officials received the heartiest congratulations of their friends. A. F. Dawson has been president of the bank for the past eight years. Associated with him are: J. R. Lane, vice president; L. J. Yaggy, cashier; W . J. Housman and C. F. Schmidt, assistant cashiers. J. R. B U N Y A N E L E C T E D S E C R E T A R Y . M A L L A R D T R U S T & S A V IN G S O P E N S. The Mallard Trust & Savings Bank has opened its doors for business at Mallard, Iowa, with a capitaliza tion of $15,000. E. D. Clarke, who has been connected with the Emmetsburg National Bank, of Emmetsburg, Iowa, is" president; Albert Steil, of Mallard, is vice president, and H. F. Van Gorden, of Emmetsburg, is cashier. The interior of the banking home is attractive and strictly modern, with mahogany fixtures. James R. Bunyan, who has been vice president of the Security Savings Bank, of Waterloo, Iowa, has been elected secretary of the Lincoln Savings Bank, of that city. F IR S T N A T I O N A L B A N K IN U . S. C E L E B R A T E S ,The First National Bank, of Davenport, Iowa, which is the oldest national bank in the United States, re cently celebrated its fifty-fifth anniversary. At the time the bank was organized there were three other institutions in the city and the total deposits of the three banks amounted to nearly $1,000,000. Austin Corbin was the first president and he was succeeded by George H. French. Following the clean SECURITY STATE BANK KEOKUK. IO W A C a p i t a l .................................. $100,000.00 S u rp lu s & U nd ivided P rofits - 30,000.00 Prompt^and carefulattention given to all business entrusted to us W . B. Seeley, President E. A . French, Cashier I American Commercial i I and Savings Bank ¡ of Davenport, Iowa Ü Ü ¡Ü Ü C a p ita l s to c k . . . S u rp lu s .................... U n d iv id e d p rofits D e p o s its o v e r . . . 1 RUFUS RICKER CERTIFIED PUBLIC ACCOUNTANT IT'I H Member American In- Member Iowa Society of Certified Public Accountants Room 3 Magnus Block Telephone 787 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis stitute of Accountants g = §} m g = $ 600,000.00 m 600.000. 00 Ü 368.000. 00 Ü 11,700,000.00 m OFFICERS ED. KAUFM ANN, | C a s h ie r =g F . C. K R O E G E R , g A sst. C a sh ie r = O T T O R IE C H E , H Asst. C a s h ie r = C H A S . N. VOSS, P r e s id e n t JO S E P H F . P O R T E R , V ic e -P r e s id e n t R A Y NYEM ASTER, V ic e -P r e s id e n t j§ CEDAR RAPIDS, IOWA Our adequate equipment and exceptional facilities for ¡g handling business in every department of banking are at g § j your service. g g ................ . ^ i,; .... . ..... ...... ir 46 THE NORTHWESTERN BANKER August, 1918 CAPITAL AND SURPLUS, $700,000.00 RESOURCES, $ 1 0 ,0 0 0 ,0 0 0 .0 0 I O W A Aiiiitiiiiiiiiiimiimiiiiiiimimiiiiii!iiiiii||iiiiiiiiiiimiiiiiiiiiiiiiiimiiiiiiiiiiiiiiimiimiiiiiiimimiiiiiiiiiiiiiimimiiiiiiiiiiiiiifiiuin Mr. Bunyan came to Waterloo from Chicago, where for years he was connected with the First National Bank in the auditing department, working under the direct supervision of F. O. Wetmore, who later became president of the institution. As a banker Mr. Bunyan has had years of experience, leaving his home town of Kendallville, Indiana, when a young lad to enter the banking world. STATE AND N ATIO N AL CO-OPERATION. At the suggestion of John W . Foster, president of the First National Bank, of Guthrie Center, and a member of the resolutions committee, Frank Warner, secretary of the Iowa Bankers Association, has forwarded a copy of the resolutions adopted by the late state con vention to John Skelton Williams, Comptroller of the Currency at Washington, D. C., and to George H. Mes senger, State Superintendent of Banking for Iowa. In a letter accompanying the resolutions, Mr. Warner solicits the active support and co-operation of these of ficials in carrying out the letter and spirit of this im portant action by the state bankers association with relation to sales of stock in speculative enterprises. Mr. Warner also states that widest publicity has been given to these resolutions through Iowa news papers and also nationally through bank magazines, state councils of defense and other patriotic organiza tions. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis GARW IN STA TE BANK RENEW S CHARTER. A meeting of Garwin State Bank stockholders was held at Garwin, Iowa, recently, the occasion being the twentieth anniversary of the institution’s organization. The meeting was well attended and important business disposed of. The chief object of the meeting was to renew the bank charter, which was done for a period of twenty years. A resolution was also passed to join the Federal Reserve System. Officers and directors were elected as follow s: President, G. W . Conant; vice president, A. Cuthbertson; cashier, Edwin Beery; assistant cashier, Miss Hildred Smith; directors, D. W . Layman, Michael Berger, G. H. Austin, Will M. Rider, J. C. Friebley, A. G. Smith, G. L. Springer, H. J. Stiger, W . A. Dexter. T W O LARR A B E E BANKS CONSOLIDATE. The Farmers State Bank, of Larrabee, Iowa, has pur chased a controlling interest in the Larrabee Savings Bank and the two institutions will be combined under the former name and business continued in the fine new home of the latter institution. R. H. Gray, president of the Larrabee Savings, re tires, after twenty-six years of active management. Ivan Jacobsen, cashier, will remain with the new insti tution. Henry Montgomery, president of the Farmers State, remains as president, of the consolidated insti tutions and A. D. Coffman remains as cashier. Both banks have been substantial ones and the com bining of the resources will make the Farmers State Bank one of the strong financial institutions of the county. August, 1918 THE NORTHWESTERN BANKER 47 First N a t i o n a l Ba n k C O U N C IL BLUFFS, I O W A Assets Over - $ 5 ,0 0 0 ,0 0 0 .0 0 J. P. GREENSH IELDS, President E. A . W IC K H A M , V ice President G. F. SPOON ER, Cashier More than half a century of successful banking LARGE G RO W TH AT W A TE R LO O SAVINGS. A comparison of the statements of the Waterloo Savings Bank, of Waterloo, Iowa, shows the following splendid growth in deposits: June 30, 1914, $800,000; July 6, 1915, $887,000; June 30, 1916, $1,082,000; May 21, 1917, $1,280,000; June 29, 1918, $2,098,000. This bank has paid to the United States government $1,715,000 for Liberty Bonds, War Savings Stamps and United States Certificates for itself and customers since May 1917. The capital is $100,000; surplus and profits, $97,534.74. The officers of this progressive institution are: W. C. Logan, president; Emmons Johnson, chairman of the board; E. L. Johnson, Carleton Sias, vice presi dents; J. J. Miller, cashier; V. L. Bartling and K. L. Bragdon, assistant cashiers. GEO. W . JOHNSON ELECTED PRESIDENT. At a meeting of the directors of the Commercial Na tional Bank, Charles City, Iowa, and associate banks, held recently, George W . Johnson was unanimously chosen president to fill the vacancy caused by the death of George E. May. At the same time Mr. Johnson was elected president of the Commercial Trust & Savings Bank, Charles City, and of the Farmers Savings Bank, of Colwell. In the progress of events, Carl C. Magdsick was elected a director of the three banks to fill the vacancy caused by the death of Mr. May, hence the of ficial roster of the three banks is as follows : Io w a N a t i o n a l Bank and Des Moines Savings Bank In Same Building Under One M anagement Combined Capital and Surplus $2,800,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Deposits Over $20,000,000 The Country Bankers' Bank of Iowa is in a Position to Render You a Service Equaled by Few and Excelled by None. "We Shall Appreciate an Opportunity to Serve You OFFICERS HOM ER A. M ILLER CLYD E E. BRENTON, Vice President H. T. BLACKBURN, Vice President JOHN H. BLAIR, Vice President G. E. PEARSALL, Vice President President R. L. CHASE, JR., Asst. Cashier JAMES F. H ART, Asst. Cashier JAMES BURSON, Asst. Cashier J. R. CAPPS, Cashier 48 THE NORTHWESTERN Peoples Savings Bank DES M OIN ES, I O W A E STA B LISH E D 1890 CAPITAL (Paid in) $50,000.00 CAPITAL (Earned) 50,000.00 $ 100,000.00 SURPLUS & PRO FITS (Earned) 230,000.00 DEPOSITS over 3,700,000.00 Accounts of Banks and Bankers Solicited Syndicate Trust Company Chicago Capital $ 2 0 0 ,0 0 0 .0 0 The Syndicate Trust Company is essen tially a financing institution. It deals in securities and floats high-class bond issues and is in position through its various avenues of communication to accomplish successfully whatever it undertakes. It buys and sells bank stocks and assists in the organization of Banks and Manufacturing or other Corporations. A corporation always combines powers and affords security not found in the individual in the conducting of large enterprises. August, 1918 Commercial Trust & Savings—Officers: President, George W . Johnson; vice president, Jos. Hecht; cash ier, Carl C. Magdsick. Commercial Trust & Savings— Officers: George W. Johnson; vice president, Jos. Hecht; cashier, Carl C. Magdsick. Farmers Trust & Savings Bank, Colwell— Officers: President, George W . Johnson; vice president, Jos. Hecht; cashier, A. T. Greenwood. IO W A NEW S AND NOTES. C. H. Martin, President Frank P. Flynn E. A. Slininger Vice President Cashier Carl W . Mesmer Roscoe C. Morrow Assistant Cashier Assistant Cashier 1980 Continental and Commercial Bank Bldg. BANKER G. F. Trotter, son of Mr. and Mrs. T. B. Trotter, of Ottumwa, Iowa, and well known in Ottumwa where for a number of years he was employed in the Iowa Na tional Bank, has been made president of the Western National Bank, of Pueblo, Colo. Lawrence Anderson, formerly deputy treasurer, has accepted a position with the Peoples State Bank, Guth rie Center, Iowa. Gail Carey, who has been connected with the Bank of Dow City, as assistant cashier, for some time, has given up his position and will enter the army. Bert R. Cole, who has been the efficient assistant cashier in the First National Bank, Strawberry Point, Iowa, for a number of years, has accepted the position as cashier of the Littleport Savings Bank, Littleport, Iowa. John J. Kyhl, assistant cashier of the Cedar Falls National Bank, Cedar Falls, Iowa, was accepted in the naval officers reserve training camp at Chicago. The board of directors of the Peoples Savings Bank, Marengo, is making preparations for the rebuilding and refurnishing of their banking house. At the annual meeting of the stockholders of the German Savings Bank, Manning, Iowa, held recently, all of the directors were re-elected and several im portant changes made in the articles of incorporation of the bank. The annual meeting of the officers and stockhold ers of the Farmers Bank, Traer, Iowa, was recently held and a dividend of 5 per cent declared. OFFICERS Andrew P. Scott, who has been employed at the D. L. Sawyer.......................................................... President Commercial National Bank, of Storm Lake, Iowa, for H. C. Niblock.......................Vice President & Gen. Mgr. the past two years, has resigned and will go to PaulGeorge L a w th e r........ ............................................ Secretary J. L. Ferguson................................................ Treasurer lina, Iowa, where he has secured the position of cash ier of the Bank of Paullina. L. A. Stebbins............................................ General Counsel The Mallard Trust & Savings Bank, Mallard, Iowa, The Commercial National Bank WATERLOO, IOWA Capital and Surplus, $500,000 OFFICERS W . W . MILLER, President F. C. PLATT, Vice-President https://fraser.stlouisfed.org 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, 1918 THE NORTHWESTERN started up for business recently. The capital stock of this new institution is $15,000. J. Kessler Jones, who has been connected with the Citizens Bank, Bedford, Iowa, for the past two years, has been made cashier of that banking institution. Auditor E. A. Schell has accepted a place with the Harlan National Bank, Harlan, Iowa. C. Warnock has resigned his position with the Peo ples Trust and Savings Bank, Iowa Falls, Iowa, and will enter the government army service. Robert McNie will soon resign his position as cashier of the Farmers Savings Bank, at Atkins, Iowa, and will move to Waterloo to engage in the insurance busi ness. Roy Lohmann has resigned his position as assistant cashier of the Moorhead State Bank, Moorhead, Iowa. The Peoples State Bank, Guthrie, Iowa, have had special furniture made to order for their new banking room, such as desks, chairs, tables, etc., and they are made of genuine mahogany. This furniture was pur chased from H. Ehrlich & Sons Manufacturing Co., St. Joseph, Mo. A change in the cashiership of the Milford National Bank, Milford, Iowa, took place recently when C. E. Stevens, of Sioux City, formerly with the Live Stock National Bank of that city, took the place made vacant by the resignation of E. L. Ewen. Mr. Ewen has sev eral propositions in sight but is as yet undecided as to his future, but is considering the proposition of accept ing a position with the Live Stock National Bank, of Chicago. Arnold Stoltenberg has entered the employ of the German Savings Bank, at Lake Park, Iowa, taking the place Albert Ballhorn has held for several years. J. A. May retires as cashier of the Farmers Savings Bank, at Fostoria, Iowa, and his place is taken by Her man Madison. Mr. Madison has been the assistant cashier. The Farmers State Bank and the Larrabee Savings Bank, both of Larrabee, Iowa, have combined under the name of the Farmers State Bank. President R. H. Gray, of the Larrabee Savings Bank, will retire after tw;enty-six years of active management. Ivan Jacob sen, cashier, will remain with the new institution. Henry Montgomery will continue as president of the combined banks and A. D. Coffman as cashier. Steve Vander Brink has severed his connection with the Farmers Savings Bank, Boyden, Iowa. BANKER 49 THE BAN K ER S Hotel Snapp HOTEL O u r fa m o u s M in e r a l W a t e r s p re scrib e d b y p h y sic ia n s. L o c a te d n e a r e r a ll thei f a m ous m in e r a l s p r in g s and p la c e s o f a m u s e m e n t th a n a n y o th e r la r g e h otel. Excelsior Sprints, Mo. ABSOLUTELY FIRE-PROOF Where Hospitality Reigns Supreme A home for your mother, wife and daughter. O p e ra te d on th e A m e r ic a n P la n R a t e s fr o m $3.50 to $5.00 p er d ay. A m e r ic a n p lan . W r i t e f o r b o o k le t Reservations b y wire or mail w ill have our immediate attention. ADEQUATE FACILITIES l \ and ideal perfected service make reserve bank for this an Iow a banks- Every courtesy and accommodation extended consistent with conservative banking. In quiries solicited and appreciated. BLACK HAWK NATIONAL BANK WATERLOO, IOWA DR. F. W . PO W ERS, P resid en t A. E. GLENNY, Vice-Pres. CHARLES W. KNOOP, Cashier JAMES LOONAN, Vice-Pres. H .E . RUGG, Asst. Cashier CAPITAL $200,000.00 RESOURCES $2,750,000.00 “The Bank of Stability and Progress” THE CEDAR RAPIDS NATIONAL BANK CEDA,^ 1 PIDS Resources Fifteen Million Dollars OlRECr Bank W a s Not Built in a Day Accounts of Banks, Corporations, Firms and Individuals desir ing to avail themselves of our facilities, developed and perfected during a period of forty years, are invited. OFFICERS R A L P H V A N V E C H T E N , P re sid e n t G E O . B . D O U G L A S . V ic e P r e sid e n t E D H . S M IT H , V ic e P re sid e n t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis G L E N N M . A V E R I L L , V ic e P re s id e n t C H A S . C. K U N IN G . A s s t . C a sh ie r K E N T C . F E R M A N , C a sh ie r K A R L H . R E H N B E R G , A s s t . C a sh ie r M A R T I N N E W C O M E R , A s s t . C a sh ie r G E O . F . M I L L E R , A s s t . C a sh ie r THE 50 NORTHWESTERN BANKER August, 1918 NEBRASKA BANK NEWS NEBRASKA BANKERS CONVENTION DATES. The executive council of the Nebraska Bankers As sociation has decided that the 1918 convention will be held in Omaha on October 23d and 24th. A number of speakers of the utmost prominence will be invited and no efforts spared to produce a notable program, which will be of a highly patriotic nature. The officers of the Nebraska association are: W . S. Weston, vice president of the Peters Trust Company, of Omaha, president; J. H. Kelly, president of the First State Bank, Gothenburg, chairman of the executive M r . Banker If your council; J. F. Coad, Jr., president of the Packers Na tional Bank, of South Omaha, treasurer; W m. B. Hughes, of Omaha, secretary. ANTON SAGL ELECTED VICE PRESIDENT. Anton Sagl, state insurance examiner and former chief clerk to Governor Neville, has resigned to become vice president of the Lancaster County Bank, of Waverly, Neb. Mr. Sagl, whose home is at Wilber, Neb., is an old experienced banker and he was the organizer of the State Bank, of Filley. Associated with him in the Lancaster County Bank will be D. E. Atkinson, president, and H. A. Johnson, cashier. K ENESAW BANK INCREASES CAPITAL. The stockholders of the Kenesaw Exchange Bank, of Kenesaw, Neb., at a recent meeting decided to increase the capital stock to $30,000. The name was also changed to the Kenesaw State Bank. This is the oldest bank in Kenesaw, having been established in 1884. A new building is under construction which will soon be com pleted. A. L. Clarke is president, S. A. Westing vice presi dent and H. R. Coplin cashier. custom er ships l i v e stock to the South Omaha M a rk et Y o u M eed a Bank at South Omaha to collect h i s returns fo r yo u . Packers National Bank UNION STOCK YARDS OMAHA N EW HOME FOR SECURITY STATE BANK. The growth of the business of the Security State Bank, of South Omaha, has been such as to necessitate new quarters. Consequently the contract has been let for the erection of a new home, which will be three stories in height. The clerical force will work in offices situated on balconies above the main banking floor. The new building, exclusive of the lot, will cost over $20,000 when completed. William A. Rathsack is president and E. V. Svoboda, cashier. The bank has a capital of $100,000, surplus and undivided profits, $12,000. W . A. G REEN W ALD SELLS INTEREST. W . A. Greenwald, after many years close association with the Falls City State Bank, Nebraska, as cashier, has sold his interest in that institution. During the time he has been connected with this bank the assets have increased from $66,000 to $940,000. L. P. Wirth has been re-elected president and T. J. Gist succeeds Mr. Greenwald as cashier. Frank Jones, W A L T E R H. R H O D E S B ank Specialist C onfidentially representing particular clients in the purchase or sale o f desirable banking institutions. Omaha, Nebraska https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Phone Douglas 5 5 4 6 6 2 0 W orld-H erald Bldg. August, 1918 U THE n i t e d S NORTHWESTERN t a t e s N BANKER a t i o n a l 51 B a n k OF OMAHA, NEBRASKA Capital - - - - M . T . B A R L O W . P re sid e n t $1,000,000.00 G. W . W A T T L E S , C h a irm a n B o ard Surplus and P r o fits .................$925,000.00 o f th e W . E . R H O A D E S , T ic e P re sid e n t R . P . M O R S M A N , V ic e P r e s . & C ash. J. C. M ’ C L U R E , A s s t . C a sh ie r Deposits - - - - $22,000,000.00 G. H . Y A T E S , A s s t . C a sh ie r C. P . B R I N K M A N , A s s t . C a sh ie r Your Business Cordially T . F . M U R P H Y , A s s t . C a sh ie r. Invited O. W I L L I A M S , A u d ito r cashier of the Maxwell State Bank, of Maxwell, has been elected assistant cashier of the Falls City State Bank. FIRST TRU ST CO. HAS N EW SECRETARY. W . T. Graham, cashier of the First National Bank, of Laurel, Neb., has severed his connection with that bank and has accepted the position as secretary and di rector of the First Trust Company, of Omaha, and will be actively connected with the management of the com pany. Mr. Graham is well known as a very successful banker, having had many years’ experience in the farm loan and banking business. F. H.| Davis is president, C. T . Kountze, G. H. Thummel and L. L. Kountze, vice presidents, and T. L. Davis, treasurer. H. E. Wallace is assistant secretary. R. G. MASON SUCCEEDS W . S. W ESTON. R. G. Mason, for the past eleven years cashier and for the past three years vice president.of the First Na tional Bank, of Hartington, Neb., has been elected by the board of directors president of the bank to succeed W . S. Weston, resigned. Mr. Mason started in the banking business at Cedar Falls, Iowa, over forty years ago. There will be no change in the policy of the bank which will continue to exert its influence for the best interests of the community as a whole. When Mr. Mason first came to Hartington he occu pied the position of assistant cashier, of the Harting ton State Bank and in the year 1901 he entered the em ploy of the First National as clerk and bookkeeper. At that time, F. A. McCornack, now of Sioux City, Iowa, was the president and Frans Nelson, now of Omaha, was the cashier. In January, 1907, he was elected to the position of cashier and, in 1915 he was promoted to the position of vice president. W . A. LETTO N SELLS IN TEREST IN BANK. W. A. Letton, who owned a majority of the capital stock of the Farmers State Bank, of Plymouth, Neb., and who had acted as cashier of the bank for the past two years, has sold his. interest to E. C. Orth and sev eral other Plymouth parties. Mr. Orth, who has been assistant cashier, has been elected cashier. August JOHN W . TULLEYS CERTIFIED PUBLIC A C C O U N T A N T Audits and Financial Investigations 507-8 Bankers Life Building L INCOLN, NEB. aiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii[iiiiiiiiniiniiiiiiiiiiiiiiiiiiiiiiiiiiimiiiniiiiiiniiiiiniiiiiiiniiimiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiM.iiiii,ilir | M cC o n n e l l & m o e l l e r C E R T IF IE D P U B L IC A C C O U N T A N T S OM AHA NATIONAL B A N K BUILDING OM AHA, N EBRASKA IiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiuiiiiiiiuiiiiiiiiiiiitiiiiiniiiiiiiiiniiuiiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiuiiiiiiiiiiiiiiuiHiuiuuiuiuiiuiiiuniiiiiiiiJiiuJI *The M erch a n ts N a tio n a l Bank of OMAHA, NEBRASKA CAPITAL------------------------------- $500,000.00 SURPLUS - .............................. . . . $500,000.00 UNDIVIDED PROFITS--------- $511,824.00 DEPOSITS______ _____ . . . . . $10,164,324.68 OFFICERS L U T H E R D R A K E , President B. H. M E IL E , Cashier ACCOUNTS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F R A N K T . H A M IL T O N , Vice-President S. S. K E N T , Assistant Cashier SOLICITED | F R E D P. H A M IL T O N , Vice-President F . A . C U S O A D E N , Assistant Cashier U. S. DEPOSITORY THE 52 NORTHWESTERN B A N K E R _______________ August, 1918 J. P. Fair is president, A. M. Lunt vice president and L. C. Stanley cashier. THE ONLY BANK — in th e — UNION STOCK YARD S Our location and facilities are unequalled. W e are the clearing house for the Live Stock Businessof the Omaha Stock Yards. Capital, Surplus & Proiits, $1,500,000.00 Combined Resources, 14,400,000.00 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.ENER SO N, Assistant Cashier H. W. VORE, Auditor ¿imiiiiimiiiiiinmm.... .................................................. ...... ........................................ . I N EBR ASK A Selk was elected assistant cashier and will ably fill this position. Mr. Letton is undecided as to his future plans. SANDERS ELECTED ASSISTANT CASHIER. H. M. Sanders, who has been the efficient cashier of the Jefferson County Bank, of Daykin, Neb., has been elected assistant cashier of the Citizens State Bank, of Superior. Mr. Sanders has had considerable banking experience and will very creditably fill his new position. CITY NATIONAL BANK KEARNEY, NEBRASKA C a p ita l ..........................................................* S u rp lu s and P r o f i t s ......... .................... D e p o s its ................................................... 2,090,10<.18 O F F IC E R S D a n M o r r i s .......................... P re s id e n t G eo. B u r g e r t ......................................V ic e P re s id e n t C. W . N o r t o n ....................................................C a sh ier F . W . T u r n e r ............................ A s s is t a n t C a sh ier K . O. H o l m e s .. . .C h a irm a n B o a r d o f D ir e c t o r s Our exceptional facilities for handling business in every department of banking are at your service. M EM BER OF TH E F E D E R A L R E S E R V E B A N K OF TH E U N IT E D S T A T E S https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OM AHA BANKS GIVE $25,000,000. Omaha banks will hold $25,000,000 of the new treas ury certificates in October, when the entire issue of $6,000,000,000 will have been absorbed. The certifi cates bear per cent interest. Resources of the Omaha banks, in round figures, are $125,000,000. Five per cent for June, July, August and September means 20 per cent of the total resources, or $25,000,000 as Omaha’s share of the certificates. Banks and trust companies have been asked by the government to put 5 per cent of their total resources every month for four months into the new certificates until the whole loan is floated. M AX STATE BANK CHANGES HANDS. J. G. Riley and Jj W . Murphy, cashier and assistant cashier of the Bank of Benkelman, Neb., have taken over the interests of S. Y. Hartt and C. H. Moffett, pres ident and cashier of the Max State Bank, of Max, Neb. E. R. Logan has been elected cashier. The other of ficers are: J. G. Riley, president; J. W . Murphy, vice president; L. C. Rudisill and F. E. Schwartz, directors. The bank is at present in a flourishing condition and under the new management will undoubtedly continue to grow. FREM ONT BANKS DECLARE D IVIDENDS. The banks of Fremont, Neb., recently declared their semi-annual dividends. The First National Bank de clared a dividend of three and one-half per cent. The Farmers and Merchants National continued its cus tomary dividend at four per cent and added $5,000 to the surplus fund. The Fremont National and its auxiliary, the Security Savings Bank, each announced a five per cent dividend while the Commercial National Bank earned and de clared a six per cent and its adjunct, the Home Savings, declared a five per cent dividend. The Fremont State Bank declared a dividend of three and one-half per cent. NEBRASKA NEW S AND NOTES. P. J. Schobel recently purchased a half interest in the Naponee State Bank, Naponee, Neb. Vivien Barrett has accepted a position with the First National Bank in Lincoln, Neb. The Ashland State'Bank, Ashland, Neb., recently in stalled a beautiful set of bank fixtures made of genuine mahogany and light colored marble base and the old copper finished grill work. The bank is now one of the prettiest equipped bank rooms in the state. The fixtures were purchased from the H. Ehrlich & Sons Manufacturing Company, St. Joseph, Mo. The Kilgore State Bank, Kilgore, Neb., recently pur chased a beautiful set of fixtures from the H. Ehrlich & Sons Manufacturing Company, St. Joseph, Mo., made of American black walnut, with marble base and grill work. The members of the Cedar County Bankers Asso ciation gave a reception and banquet to W . S. Weston, who moves from Hartington to Omaha, Neb., to enter a larger field of business. Mr. Weston has been for years president of the State Bankers Association. The August, 1918 THE NORTHWESTERN BANKER 53 T h e O m a h a N a tio n a l B a n k O m ah a, N ebrask a Established in 1866 Capital $1,000,000.00 Surplus $1,000,000.00 D eposits $25,000,000.00 Exceptional collection facilities for Nebraska and Iowa business. J. H. MILLARD, President B. A. WILCOX, Vice President O. T. ALVISON, Assistant Cashier Items routed direct. OFFICERS W ALTER HEAD, Vice President WARD M. BURGESS, Vice President . a .Presldent EZRA MILLARD, Cashier J. A. CHANGSTROM, Assistant Cashier EDW. NEALE, Assistant Cashier banquet tendered him was attended by some thirty bankers from Cedar county. W . T. Graham, of Laurel, president of the Cedar county bankers, was toastmas ter at the dinner and a number of speeches were made congratulatory to Mr. Weston. H. M. Saunders, who has been connected with the Jefferson County Bank at Daykin, Neb., has been elected assistant cashier of the Citizens State Bank, of Superior. Mr. Saunders comes to the bank at Su perior highly recommended and bringing valuable banking experience. Harvey Teten has resigned as assistant cashier at the Otoe County National Bank, Nebraska City, Neb. Guy L. Clements has severed his connection with the American Exchange Bank, Elmwood, Neb. WALTERS JOINS THE ARMY. R. W . Walters, first vice president of the Charles E. Walters Company, Omaha, Neb., has joined the army. He left sometime ago for Camp Green, S. C., where he is in the medical department. The business of the Charles E. Walters Company, at Omaha, will be managed by Robert L. Goethe, second vice president, and H. H. Byers, secretary. R. W. WALTERS First Vice President Chas. E. Walters Co. Omaha, Neb. pill!llll!lllllllll!l!llll!lllllllllllllllllll!llll!llll!llll!lllllllll!lllllllll!llll!lllllllll!llll!M The directors of the First National Bank, of Ord, Neb., at a meeting held recently, voted to give a thou sand dollars to the Red Cross, $500 to the National Society and $500 to the local chapter. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ( B A N K S B O U G H T and SO L D 1 Confidentially on Commission I JACOB BACKER, BANK BROKER | g 405 P ioneer B ld g. g ST. PAUL, - - MINN. liiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiim | THE 54 NORTHWESTERN BANKER August, 1918 1IIIIIIIIII1IIIIIIIII1IIIIIIIIIIIIIIIIIIIIIIIIII1IIII1IIIIIIIII1I1IIIIIIIIIIII1IIIIIIIII1IIIIIIIII1I1IIIIIIW I MINNESOTA BANK NEWS NINTH DISTRICT TO BE ORGANIZED. Bankers of the Ninth Federal Reserve District will be organized in groups by states and counties for tak ing $26,000,000 in treasury certificates that the district will be expected to subscribe for every two weeks from now on. C. T. Jaffray, president.of the First and Security Na tional Bank, of Minneapolis, who was asked by the Fed eral bank to take charge of the organization, is at work on the details. There will be forty or fifty divisions of territory, each embracing a group of counties. The group chair man will keep in touch with all conditions relative to the ability of the banks in their division to handle quan tities of the certificates as they are issued. JOHN F. SINCLAIR, President and Treasurer, John F. Sin clair Company, Minneapolis. With good crops and high prices for all farm produce and with prices for wheat guaranteed on high level, the Northwest should be able to absorb these certificates if the distribution is properly handled. Mr. Jaffray has outlined the problem and says it is a governmental duty that must have first call upon the resources of the banks. TH E JOHN F. SINCLAIR COMPANY. The John F. Sinclair Company was organized in Minneapolis in the spring of 1914 for the handling of farm mortgages, municipal bonds and other invest ments. Since that time the company has been stead ily increasing its business, with the result that they have become interested in the control of a number of P. M. KERST, Vice President John F. Sinclair Company, Minneapolis. J- T - WHITLAW, Secretary, John F. Sinclair Company, Minneapolis. Midland National Bank M IN N E A P O L IS ------- O R C A N T Z E D 1 9 0 9 ---------- CAPITAL AND SURPLUS $1,350,000.00 ASSETS $I7,0D0,DDD.D0 Th e bank that successfully makes it a business of handling the accounts of banks. Correspondence invited. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis | August, 1918 THE Established 1863 NORTHWESTERN BANKER 55 The First National Bank o f St. Paul Capital and Surplus, Five M illion Dollars 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. Resources F ifty-S even M illion Dollars banks in Montana, North Dakota, South Dakota and Minnesota. Mr. Sinclair, who is president and treasurer of the John F. Sinclair Company, is a graduate of the Uni versity of Minnesota, in both the academic and law courses. He was formerly secretary of the Montreal Y. M. C. A. In the years 1910 and 1911 he was asso ciated with the Legislative Reference Bureau, Madison, Wis., during which time he made a trip to Europe to study co-operation among farmers, including rural credits, issuing several bulletins on this subject. In the fall of 1911 he became associated with the WellsDickey Company, Minneapolis, in which organization he continued until the John F. Sinclair Company was organized in the spring of 1914. Mr. Sinclair is the act ing manager of the institution. Mr. P. M. Kerst, vice president, has been in the banking business for more than thirty years, both as active officer and as bank examiner. He was bank ex aminer of Minnesota under the administration of the late Governor John A. Johnson. Later he became clear ing house examiner for the Twin City banks, which position he resigned to become chief national bank ex aminer of the Ninth Federal Reserve District, which comprises Montana, North Dakota, South Dakota, Min nesota, Northern Michigan and Northern Wisconsin. Mr. Kerst resigned his position as chief national bank examiner about six months ago. Mr. Whitlaw, who is a Canadian by birth, received his education in Eastern Canada. In 1905 he was ap pointed traveling passenger agent for the Pacific Rail way Company, of Winnipeg, which position he re signed four years later to become associated with The Hall Company^ Limited, of Winnipeg, which company operates a line of private banks in Canada. About the beginning of the year 1918 he became connected with the John F. Sinclair Company as secretary. Mr. Whitlaw’s extensive business training and his ability as a salesman, peculiarly fit him for the position which he now occupies. The John F. Sinclair Company owns banks at the fol lowing points: Security State Bank, Box Elder, Mont.; Continental and Commercial National Bank OF CHICAGO Capital, Surplus and Undivided Profits, $ 3 5 ,0 0 0 ,0 0 0 OFFICERS G e o r g e M. R e y n o ld s .................................. P re s id e n t A r th u r R e y n o ld s . . . . . V i c e - P r e s i d e n t W illia m T. B r u c k n e r . V ic e -P r e s id e n t H. E r s k in e S m ith . .A s s is t a n t C a sh ier R a lp h V a n V e c h t e n .. .V ic e -P r e s id e n t J o h n R . W a s h b u r n .. .V ic e -P r e s id e n t D a n N o r m a n ...............A s s is t a n t C a sh ie r A le x R o b e r t s o n V ic e -P r u d e n t W ils o n W . L a m p o r t . .................... C a sh ie r G e o r g e A . J a c k s o n . A s s is t a n t C a sh ie r ......... -X, ^ r e s ?“ e n f H a r v e y C. V e r n o n . .A s s is t a n t C a sh ier R . G. D a n i e l s o n .. .A s s is t a n t C a sh 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 is t a n t C a sh ie r J o h n F . C r a d d o c k .M g r . C r e d it D ep t. J o h n C. C r a f t ................ V ic e -P r e s id e n t W ilb er; H a t t e r y . . . .A s s is t a n t C a sh ie r J os. M c C u r r a c h . .M g r . F o r e ig n D ep t! Accounts of Banks, Bankers, Manufacturers, Merchants and Individuals Invited Continental and Commercial Trust and Savings Bank Capital, Surplus and Undivided Profits, $ 5 ,5 0 0 ,0 0 0 Trust, Savings and Bond Departments OFFICERS G e o r g e M. R e y n o ld s ........................... .. P re s id e n t J o h n J a y A b b o t t ......... V ic e -P r e s id e n t W illia m P T fnnf S a cra ta rv H e n r y C. O l c o t t . . . .M g r. B o n d D ep t. P iMs oC.C5w ' ’ E d mu n d J. C la u s s e n . A s s ’ t S e c r e t a r y Tu?eiti0 k ......... 'a 88!* ? fie * rr Ch ha a rrle Wiip i l lfn s onn .................... C a sh ie r J A lb e r t S. M a r t inc..............A sst 2 Ca a ssh 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE 56 NORTHWESTERN BANKER August, 1918 COMPLETE INVESTMENT SERVICE Our facilities offer conservative investors choicest farm mortgages in the Middle West to net and 6%. We handle Municipal and Corporation bonds, Com mercial Paper, Short Term notes at best current rates. Correspondence invited. Ask for our latest offerings. 5}4% Established a Quarter o f a Century C A P IT A L A N D SURPLU S $ 1 0 ,0 0 0 ,0 0 0 .0 0 Deposits O ver Sixty-Five M illion Dollars Correspondence Invited MiiiiiiiiiHiiiiiiHiiiiHiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiHimiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiitiiHiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiuiHiiHiiiiiimu I M IN N E S O T A First State Bank, Geyser, M ont.; Gildford State Bank, Gildford, M ont.; Farmers State Bank, Hingham, Mont.; First State Bank, Kremlin, M ont.; Square Butte State Bank, Square Butte, M ont.; Bank of Cresbard, Cresbard, S. D .; Security State Bank, Mclntosh, S. D .; Farmers and Merchants State Bank, Hutchinson, Minn. SHERBURN N ATIO N AL HAS NEW HOME. The Sherburn National Bank, of Sherburn, Minn., has recently completed its handsome new building. The interior is finished in tan with steel ceiling and dull ivory. The floor is laid with ceramic tile and the fix tures and wainscoting are finished in English vein white Italian marble. All of the woodwork is in oak finish. ,The Sherburn National was established as a state bank in 1895 with the following officers: A. L. Ward, O old B tabeck Ci INVESTMENT BANKERS MINNEAPOLIS president; Chris Schwager, vice president, and H. H. Jenkins, cashier. Two years later C. E. Landin was made cashier, which position he held until about twelve years ago when he resigned and was succeeded by Leo Howard. Mr. Howard handed in his resignation a few weeks ago on account of his going into the service, but the board will keep his position open for him until the close of the war. MIDLAND TRU ST & SAVINGS BANK OPENS. The Midland Trust and Savings Bank, of St. Paul, Minn., has opened for business in its recently completed banking rooms, in which the most modern fixtures have been installed. H. W . Strickler, president of the Midland Insur ance Company, is president of the new institution. The authorized capital is $2,000,000 and the bank will do a checking, savings account and trust company business. The officers are: H. W . Strickler, president; W . H. H. Cash, Max Hendrick, J. C. Kirkpatrick, W . I. Prince and H. L. Thornburgh, vice presidents; E. M. Mortensen, secretary; Gilbert Guttersen, treasurer; A. H. Reinhard, cashier; H. A. Sorlien, assistant cashier; E. M. Schneider, assistant treasurer, and H. W. Benton, general counsel. A new bank at Eveleth, Minn., will be opened in a short time. You Need This A stamp needed by every bank handling Liberty Loan Bonds for recording paym ents on back of loan card. Price O n ly $1.25 Send for One Today R E C O R D O F PA YM E N TS D A TE Paym ents Due Am ount o f Interest Payment Accrued Tout Paid Teller 5 % by M ay 4 2 0 % by M ay 28 35 % by July 18 FARM MORTGAGES COMMERCIAL PAPER Municipal Bonds Our unequaled facilities for securing choice, highinterest bearing investments, backed by “ The Sin clair Service” creates a steady demand for our se curities. W e collect interest, principal and look after the investment without charge of any kind. 4 0 % by Aug. 15 100% Interest Paid % Actual Size St. Paul Stamp W orks https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 4 Fifth Street, St. Paul, Minn. JOHN F. SINCLAIR COMPANY CAPITAL $300,000 McKnight Building, Minneapolis, Minn. Advise and we will forward description of any line of investment you require. THE NORTHWESTERN BANKER 57 ^iillllllllllllllllllllillllHIIIIIIIIIIillllltllillllllllllllllllllllllllllllllllllllllllillllllllilllllllllllllllllllllllllUUttWUUiiuUJlMHnit^ August-, 1918 AMERICAN FIXTURE COMPANY Kansas C itv. M issouri C O M P L E T E E Q U IP M E N T F O R B A N K S I N e w Building Fixtures Decorations Remodeling Floors Lighting Furniture Interior 'Woodwork ftiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiin M INNESOTA NEW S AND NOTES. The German-American Bank, Minneapolis, changed its name recently to North American Bank. Banks in St. Paul on July 1st paid out more than $200,000 in quarterly dividends and semi-annual divi dends. John Leslie, president of the John Leslie Paper Com pany, has been chosen a director of the Northwestern National Bank, Minneapolis, succeeding the late James T. Wyman. O. W . Lundstein, president of the Farmers and Mer chants Bank at Hutchinson, Minn., has sold his bank ing interests to Peter M. Kerst and John F. Sinclair, of Minneapolis. Robert F. MacTavish, teller in the Northwestern Na tional Bank, Minneapolis, with which he has been con nected for more than thirteen years, left Minneapolis recently for New York City to report for Y. M. C. A. secretary duty overseas. R. S. Westby has resigned his position with the Farmers State Bank, Echo, Minn., and expects to move to Minneapolis in the near future, where he has ac cepted a position with the Drake-Ballard Company, one of the largest loaning companies of the state. 'Mr. Westby has accepted the cashiership with the com pany. The Van Sant Trust Company, St. Paul, formerly the Van Sant Investment Company, began business recently in the Endicott Arcade Building. The com pany has a capital stock of $200,000. The officers are Samuel R. Van Sant, president; P. W. Herzog, vice president, and Grant Van Sant, trust officer. Edward A. Murphy has become cashier of the St. Cloud State Bank, of East St. Cloud, Minn., to succeed Daniel J. Fouquette, who has been called to the colors. If You Wish to Buy or Sell Banks or Bank Stocks, write The Bankers Holding & Investment Company 1st N ational-Soo Line B ldg. MINNEAPOLIS, - - MINNESOTA Judith Basin Farm Mortgages for Sale Established 1880 Drake-Ballard Co. | Capital and Surplus $700,000.00 FARM MORTGAGES—MUNICIPAL BONDS MR. BUSINESS M A N : . You go to your law yer when your business is in trouble. U- hy not come to the N A T IO N A L SERVICE CORPORATION when your staff organization needs help ? As a subscriber to our SERVICE you w ill know o f no such trouble f o r you can turn to us when in need. Ask us about it - it w ill pay you - do it now. Respectfully, NA TIO N AL SERVICE CORPORATION (Q u ite 4 2 0 M e tro p o lita n L ife B l d g . , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M in n e ap o lis, M in n . Investors are invited to write us for our latest list and descriptive matter. W e are in the market at all times for choice mortgages and municipal bonds. | | | Correspondence solicited Minneapolis, Minnesota f 58 I THE NORTHWESTERN B A N K E R _______________ August, 1918 M O N TA N A BANK NEWS M O N T A N A B A N K E R S F O R M A S S O C IA T IO N . Complying with the suggestion of Superintendent of Banks H. S. Magraw, some fifty or sixty officers of state banks throughout Montana met in Helena recently and organized an association of Montana state banks. The association will be affiliated with the National Association of State Banks, an organization of recent birth, the purpose of which is to look after the interests M o n ta n a M ortgages made by a competent and trustworthy bank combine absolute safety with good return. Over $1,000,000.00 of Montana Mortgages and over $1,000,000.00 of North Dakota Mortgages sold by us without loss. Our mortgages are selling to our old clients today but we can supply a few additional investors at good rates. Illinois and Wisconsin Investor references. CUSTER C O U N T Y B A N K W . C . M cC lin tock . President MILES C IT Y, - - M ONTANA Stow& Davis Furniture Company Grand Rapids, M ich. Manufacturers of Bank and Office Furniture When you have banking rooms to furnish come to Grand Rapids and see our line or send your schedule to us through your dealer before purchasing. [ of state banks in matters of legislation. It was clearly pointed out at the meeting that the association does not propose to antagonize national banks or the national system, but rather will lend its efforts toward securing a better understanding between the two systems that will result in their mutual benefit. P. B. Bartley, of Helena, was elected president; J. K. Heslet, of Butte, vice president; O. W . Allen, of Billings, secretary. Superintendent of Banks Magraw explained to the bankers at the meeting that at a recent meeting of the National Association of State Bank Supervisors, held in Hot Springs, Ark., a resolution was adopted calling upon all the superintendents to call meetings in their various states for the purpose of organizing state asso ciations. M O N T A N A B A N K E R S C O N V E N T IO N . Billings, August 9th and 10th, will be the scene of probably the most important convention of the Mon tana Bankers Association ever held. The local prob lems for discussion are perhaps as numerous as at any other convention, and in addition to the matters of a local nat.ure this year the bankers will consider the war and war finance. Just as the different meetings of the association a few weeks ago resolved themselves into war councils, so it is expected that the war will get a great deal of the at tention of the bankers at Billings. The program as completed at the time of going to press, follow s: Address of welcome— M. Thomas, of Billings. Response— Sam Stephenson, of Great Falls. Address—J. Adam Bede, subject, “ The Price of Prog ress.” Address— Gates W . M’Garrah, president Mechanics and Metals National Bank, New York City, subject, “ War Problems, Present and Future.” It is also expected that there will be an address by Captain Edwards of the British army. The entertain ment features will be along, the usual lines. A large attendance is expected. The selection of Billings as the 1918 meeting place of H a v e Y o u a L ia b ility L e d g e r Some Prominent Users of Kirtley Ledgers Citizens Trust & Savings Bank, Davenport, Iowa. Continental National Bank, Sioux City, Iowa. Sioux Falls Savings Bank, Sioux Falls, S. D. First National Bank, Centerville, S. D. First National Bank, Bancroft, Neb. Nebraska State Bank, Norfolk, Neb. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Can you tell at a glance just how much each borrower owes you? Don’t depend wholly on your note case. Sometimes a note is misplaced. The Liability Ledger is a check on your note case and when a customer wants to settle up you have all the infor mation on his sheet. W e want to tell you about the Kirtley Liability Ledger, how it saves time in posting and referring to accounts. W rite for information today to Hammond Printing Co. BANK SUPPLIES FREMONT, NEBR. THE August, 1918 NORTHWESTERN 59 BANKER E x t e r io r V ie w o f the beautiful new h om e of the P e o p le s State Bank Guthrie Center, Iowa F. M. HOPKINS, President H. J. HESS, Vice President W . K. HAM ILTO N, Cashier K. B. O’DAIR, Asst. Cashier Designed and Constructed by The Lytle Company, Sioux City, Iowa J. A . R A V E N , President A rch itects and Engineers o f C om plete Bank and O ffice Buildings N ote the handsom e and practical character o f this B ank’ s Interior D esign Others R ecently Com pleted First National Bank, Esthervllle, Iowa. First National Bank, Iowa Falls, Iowa. Farley State Bank, Farley, Iowa. Peoples State Bank, Guth rie Center, Iowa. Mapleton Trust & Savings Bank, Mapleton, Iowa. Abram Rutt National Bank, Casey, Iowa. Citizens National Bank, Royal, Iowa. First National Bank, Ban croft, Neb. First National Bank, Le Mars, Iowa. First National Bank, Dun' lap, Iowa. First National Bank, Churdan, Iowa. Milford National Bank, M il ford, Iowa. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis K«' <** .*» *• THE 60 A U D ITO RS NORTHWESTERN BANKER FIN A N C IAL STATEM ENTS PREPARED BILLIN G S, P R O U T Y a n d August, 1918 BUSINESS SYSTEMS T O M P K IN S CERTIFIED PUBLIC A C C O U N T A N T S MEMBERS A M E R IC A N INSTITUTE OF A C C O U N T A N T S DES M OINES, IO W A W A T E R L O O , IO W A D A V E N P O R T , IO W A CEDAR RAPIDS, IO W A Hippee Building Black Building Putnam Building C. R. S. Bank Building M ONTANA he was assistant superintendent of banks in Montana. Mr. Sharpe is known among bankers all over the state and his many friends will be pleased to learn of his new connection. aiiHiiiiininiiin»iininniiiniiinniiiiMiiiiiiiiiniiimiiiiiiiniiiiiiiiiiiiiiiiiiiu»iiiiiiiiiiiiiiiiiniimiiiiiiiiiiMiiininiiiiimmiiiniiiiniimmmmn»»m»iiuiiinujiiiiwiii«E the association was considered very appropriate. That city is the home of the president of the association, Roy J. Colvert, who is president of the Merchant-s National Bank. C. F. Morris, of Havre, is vice president of the association, and if the former custom is followed, he will be the new president. E. A. Newlon, of Great Falls, is secretary. M ONTANA BANKER IS REPRESEN TATIVE. The Midland National Bank, of Minneapolis, has just announced the appointment of J. H. Sharpe as special representative. Mr. Sharpe was vice president and cashier of the Yellowstone Valley Bank and Trust Com pany, of Sidney, Mont., until recently. Prior to that M ON TAN A NEWS AND NOTES. Colonel A. L. Babcock, president of the Yellowstone National Bank. Billings, Mont., pioneer and merchant, died recently at Long Beach, Cal. At a meeting of the directors of the First State Bank, Libby, Mont., held recently, Joseph Fennessy was elected president of that institution, succeeding T. A. McCann. D. J. Charles, Butte, Mont., banker, will aid in solving Montana farm labor troubles. H. O. Morgan has been elected cashier of the Farm ers State Bank, of Glentana, Mont., to succeed Fred F. Smith, who has been made first vice president. F arm Buildings Do M ore Than Earn Interest—They Pay O ff Principal T HE banker has always looked on reliable farm land as the safest of investments. But land is only part. Farm buildings not only pay for the interest on the money invested in them but quickly begin to pay off the capital. For instance a $5,000 barn in a single year may save easily $500 other wise lost through shrinkage of crops and live stock. This is sure saving. O O D farm buildings of the m odern ty p e — barns, out hou ses, m achinery sheds, tenant hou ses, etc.— save loss o f crops and depreciation o f equipm ent, help so lv e labor problem s, put the business o f farm ing o n a sounder basis. G F arm buildings, ordinarily a go od in v estm en t, n ow can be looked on as exceptionally attractive both b ecause th ey are so necessary and because their cost is low . In spite o f the im pression w hich som e have that building costs are high, it is attested b y G o ve rn m e n t statistics that lum ber and building materials have advanced in price less than tw o-fifths a s m u ch as other com m odities since 1913. T h is is due principally to the subnorm al am ou n t o f building that has been done in this country. B u t these favorable prices can not last lo n g after the w ar has ended. G o rd o n -V a n T in e C o m p a n y is a firm w hich specializes in the planning, production and selling o f m odern farm build ings. O ur farm buildings are sold ready-cut, ready-to-erect, com pletely planned. W e e m p lo y the m ill-to -u ser m ethod of selling w hich insures low est prices possible on materials o f highest quality. Bankers have found it safe and satr isfactory to recom m end us to farm er clients. Gordon-VanTine Go. Resources Over $ 1 ,0 0 0 ,0 0 0 6785 Case St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Established Over Half a Century Davenport, Iowa August, 1918 THE NORTHWESTERN A BANKER 61 H u n d red Y ea rs H en ce the w orld will still revel in the beauty of A nna Case's voice Yes, a century from now, when a new generation refers A N N A CASE singing in direct comparison with the New Edison and pm™ 8 that her n a t nof r tthe h ( > iinstrument n s r m m p n t performance and tthat are indistinguishable. n p rrn rm a n re a n d https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t^le P ^ n t o v e days of 1918 , the great diva’s superb voice will thrill vast audiences. Thanks to the genius of Thomas A. Edison it has been Re-Created and preserved t0 r in all its glory for our descendants. The men of to-morrow will hear, not a mere imitation, you understand, but the voice itself—pure, bubbling and spontaneous. For it has been Re-Created on 2 7 «? N E “ The Phonograph with a Soul ” This means that it has been Re-Created with such fidelity; so perfectly and completely, that no human ear can distinguish artist from instru ment. The famous Edison tone tests have proved this beyond question. Before audiences totaling more than 2 ,000,000, great artists, stars of Metropolitan Opera, have sung in direct comparison with their own voices on the instrument. And not one listener has been able to detect a shade of difference. Come into our store to-morrow and hear Anna Case on the New Edison. H arger & “33 Des M oines B lis h , I n c . Y e a r s in th e M u s i c B u s i n e s s ” S iou x C ity 62 THE NORTHWESTERN BANKER August, 1918 llllllllll SO. DAKOTA BANK NEWS STATE ASSOCIATION OFFICERS ELECTED. At the annual meeting of the South Dakota Bank ers Association, which was held in Rapid City, the fol lowing officers were elected for the coming year : Alex Highland, vice president of the Aberdeen National Bank, president ; Harry Wentzy, president of the Se curity Savings Bank, of Rapid City, vice president; F. D. Peckham, cashier of the First National Bank, of Alexandria, secretary, and R. A. Goodwin, vice presi dent of the Wakonda State Bank, of Wakonda, treas urer. The 1919 convention will be held at Mitchell. FIRST N ATIO N AL, D EAD W O O D , CELEBRATES Forty years ago the First National Bank, of Deadwood, S. D., was organized by a group of pioneer finan ciers in the then bustling frontier mining camp. The bank was started with a capital of $50,000, which in creased to $100,000 in 1880 and to $150,000 in 1905. The first president was L. R. Graves, who retained that of fice until the controlling interest in the bank was pur chased by Richard C. Lake and O. J. Salisbury in 1879, when the former was elected president, which office he held until 1882, when O. J. Salisbury succeeded him. The latter retained that office until 1902, he being suc ceeded by Harris Franklin, who resigned in 1905 to be succeeded by N. E. Franklin, who remained president until 1917 when D. A. McPherson, cashier, was elected president. The history of the First National is coincident with the history of the Black Hills during the whole period S IO U X F A L L S NATIONAL BANK S I O U X F A L L S, S. D A K . E stablish ed - - - 1882 S ioux F a lls ' Oldest Bank ^¡Successfully conducted for more than a third o f a century under one competent and CONTINUOUS management. of its existence. The bank has been very successful and^has paid to its stockholders in the form of earned dividends the sum of $547,500 and to its depositors as interest, approximately $2,000,000. R. A. TOW N SEND SELLS BANK STOCK. R. A. Townsend, the efficient president of the Bank of Bruce, S. D., has sold the larger part of his interest in that bank to E. A. Grape, who will take active charge. Mr. Townsend becomes vice president of the First Na tional Bank, of Brookings, S. D. Mr. Grape is a very competent man under whose management the Bank of Bruce will continue to pros per and grow. Associated with him will be G. W. Austin, vice president; D.-I. Omodt, cashier, and W . C. Brewer, assistant cashier. JAMES V A L L E Y BANK, HURON, INCREASES ,The capital stock of the James Valley Bank, of Huron, S. D., has recently been increased from $30,000 to $60,000. The surplus fund is $15,000. This increase in capitalization was made necessary by the remarkable growth of the bank during the past five years. R. E. Cone is president, C. H. Bonesteel vice presi dent, V. C. Bonesteel cashier and C. C. Smith assistant cashier. BANKS LOAN TO GOVERNMENT. In his capacity as chairman of the district comprising Union, Lincoln, McCook, Lake, Moody and Minnehaha counties, C. E. McKinney, president of the Sioux Falls National Bank, Sioux Falls, S. D., has sent letters to banks, explaining the plan to be followed for the aid the bankers are to give the government in financing the war. All banks are now asked to invest 2^4 per cent of their resources at the 4 ^ per cent interest in four months’ treasury certificates. This plan contemplates the loaning of this money to the government by weekly amounts, commencing June 25th, and running through ten weeks. The money paid by the purchasers of Liberty Bonds in the October ldan drive will be used by the government to redeem these treasury certificates from the banks. Banks of the W e Believe That Our Steady Growth is a Result of the Quality of our Service A Bank of Strength and Service MiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiitiiiiimiifiiiiiiiiimiiiiiiimiitiiiiiiiimiiiiiiiimiMiiiiiiiiiiiiiiimiiiimmmiiiiiiiiiiiiiiiiiiimiiiiiir I GEO. A. PETTIGREW, Pres. C. N. GUNNISON, Vice-Pres. C. C. CRANDALL, Sec’y I Northwestern Audit Company 410 Boyce-Greeley Building SIOUX FALLS, S. D. . R. E. CONE. President C. H. BONESTEEL, V. Pres. | =.«IIIIIIIIIIIIIIIItllllllllllllllllllllllllIlllllllllllllllllllllilllllllllllilllltlltlllIlllllllllllllllllllllllllllltllllllllllfllllllltll|l|||||l||l|||||||||||||||||||||||lt||||||||||||||||||||||||||||||iira https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Huron, South Dakota Resources Over Public Accountants and Auditors ¡ James Valley Bank . . $1,000,000.00 V . C. BONESTEEL, Cashier C. C. SMITH, Asst. Cash. August, 1918 THE NORTHWESTERN United States are thus asked by the government to pro vide $6,000,000,000 of their resources for this purpose. SOUTH D A K O TA W O O L SHIPMENTS HEAVY. W'ool shipments from northwestern South Dakota are just commencing and promise to be the heaviest in years, with prices higher than ever before known. The great bulk of the wool shipments will come from the Belle Fourche territory, where there are numerous large flocks and from adjacent territory in eastern W y oming. The wool clip is being started to the East through BANKER the regular buying channels, but it is to be at the dis posal of the United States government in the course of its progress from the producer to the manufacturer. The raisers are being, allowed an advance payment of 50 cents a pound as the shipments are made, and the payment of the balance between that and the price to be eventually established will come later, or as soon as the wool has been graded and the prices which will be allowed for the different grades have been deter mined. The best-posted men in the Belle Fourche district ex press the opinion that the average price will finally be fixed between 62 and 65 cents a pound. YOUR MINNEAPOLIS REMITTANCE L ik e m a g ic , p r e c is e ly at e le v e n — young men from Minneapolis banks appear at the clearing house to exchange checks. It is a matter of special pride in the In-coming Mail department of this bank to get every possible check and collection item received in the morning mail presented at once for payment and placed to the credit of depositors. T h e N o rth w e ste rn N ation al B ank Minneapolis, Minnesota https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 63 Resources $55,000,000 64 THE SOUTH NORTHWESTER^ DAKOTA f ii iiii iiiii iiii iiii iiiii iiii iiiii iiii iiii iiiii iiii iiiii iiii iiiii iiii iiii iiiii iiii iiiii iiii iiii iiiii iiii fiiii iiii iiiii iiii iH im iiliiii iiii iiiii iiii iiin m i in m P American State Bank, Yankton, S. D., will remodel their present building, putting in New Bedford stone front, taking out the second floor and using the entire building for bank room purposes. New marble fix tures will be installed and the entire building made modern in every respect. All work is being carried on under the direction of Fridstein & Company, Bank En gineers, Chicago. Huron’s new financial institution, the Farmers and Merchants Bank (S. ID.), opened its doors for business recently. Alex Highland, vice president of the Aberdeen Na tional Bank, Aberdeen, S. D., was elected president of the South Dakota Bankers Association at the annual convention held in Rapid City recently. BANKER can State Bank. $50,000. August, 1918 Capital stock has been increased to E. J. O’Bleness has resigned his position as assistant cashier of the American Exchange Bank, Pierre, S. D., and has accepted a position in the Security National Bank, of Sioux Falls. Chas. I. Norman, of Lansing, Mich., has accepted a position with the First National Bank, Groton, S. D. Willa Homes has accepted a position in the Brule National Bank at Chamberlain, S. D. Bank of Edgemont, S. D., recently installed a beauti ful set of quarter-sawed oak fixtures of a special de sign. These were purchased from the H. Ehrlich & Sons Manufacturing Co., St. Joseph, Mo. Harold Edgerton has accepted a position with the Lakeside State Bank, Lake Andes, S. D. Application has been filed for a charter for the First National Bank, of Pollock, S. D. The Lakeside Bank, Lake Andes, S. D., purchased the two corner lots just across the street from their present location recently and will erect a two-story brick building on them in the near future. Do your work better than anyone else could do it— that is the margin of success!— Safety Hints. Bank clearings of Sioux Falls, S. D., do not seem to be affected by war drives and various other emergen cies, for they keep on rising and recently a new record was made when the clearings for the week showed $2,747,909.86. The Bank of De Smet, formerly known as the Ger mania State Bank, has changed its name to the Ameri (Continued from page 8.) there will please continue to bring in the “ Boche” for breakfast. The Sammies will win the war over there if you and I win it over here. There isn’t the sem blance of a doubt as to who will win the war if you and I have sense enough to “ spot” the Hun sympa thizer, the shrewd propagandist, and the clever liar, M A N F U L L Y P L A Y IN G T H E G AM E. The Evans Hotel H O T SPR IN G S SO U T H D A K O T A “The Carlsbad of America" THIS BANK Building and its equipment designed and constructed under the direction of FRIDSTEIN & COMPANY A RESORT H O TEL OPEN A LL THE YEAR V isit Hot Springs, South Dakota, the beauty spot of the Black Hills FOR H E A LT H A N D PLEASURE BANK ENGINEERS W rite Us for Reservations NINTH FLOOR, MONADNOCK BLOCK CHICAGO TH E EVANS HOTEL COMPANY, Owners GEO. P. BENNETT, President I. M. HUM PHREY, Secretary-Treasurer ARTHUR F. OTTMANN, Manager https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE August, 1918 NORTHWESTERN and sand enough to help Unci? Sam round them up for a trip to an internment camp. The beasts in Ber lin are fast finding out that they can’t whip us and they are going to try, awfully hard> to fool us, to make monkeys of us, to outwit us, and already they are put ting out “ feelers” on the “ peace” proposition, but my friends and fellow patriots, there is nothing to it, ab solutely nothing to it. Let the old butchers fuss and fume and rare and rave and snort and blow their bazoo and play the “ innocent” and the “ penitent,” but mind you, those devils are not reformed in a minute and they are only playing for a toe hold or a strangle hold or some mean advantage, for the only peace with Ger many that is worth the paper it is written on is a vic torious peace, an unconditional surrender peace, a peace signed, sealed and acknowledged by a thorough ly whipped Germany, a Germany on its knees begging for mercy. When peace rumors begin to float about, we must be “strong for war,” we must insist on a fight to the finish, on a peace dictated by the entente, a peace that shall insure to the smaller nations, as well as all others, their rights; a peace that shall restore Belgium and Serbia and Rumania and Russia, a peace that shall restore to France her territory, give Italy her due and Germany her “ just desserts,” and we can never get that kind of a peace, a righteous peace, an enduring peace, until we have “licked hell out of the Hun.” So beware of German propaganda, beware of spurious peace offenses, beware of “ con” talk, whether it comes out of Germany or out of the mouths of Hun sympa thizers, slackers, pacifists or traitors on this side. W e are in the game now with all four feet and the enemy is on the “ skid,” but beware, and for God’s sake don’t pull any “ bone-head plays.” Batter up. 65 BANKER Advice to Investors Purchase your securities through respon sible dealers who have proper facilities for investigations and a reputation to maintain for reliable service. K. N. & K. are always posted on general market conditions, and their views are at the disposal of investors through their monthly review of “ The Investment Situation” W rite fo r Pamphlet L - I Knautti -Naelioï) Sc Kulittf Members of New York Stock Exchange E q u ita b le B ld g . N ew Y ork C ity The Value of the ST. PAUL CATTLE LOAN CO. To Your Community yillllllltllllllllllllllllllllllllllllllllllllllllllUlllllllllllllllllllllllllllllllllllllllllllllllllltlllllllllllllllllllllllllllllllllllllllllllllllllilllllllllllllllllllllUIIIIIIIIIIIIIIIIIIUMIIIIIIillllllUllllllllllllllllllllllllllllllllUIIIUIIIIIIHIIUHIIIIIIUUIIIUIIIIIIIIIIIIII». W e help promote the Live Stock Industry. j W e offer attractive terms to bankers desir- I j ing to build up this class of business. Correspondence Solicited. St. Paul Cattle Loan Co. UNION STO C K Y A R D S J. J. FLANAGAN, President J. S. BANGS, Vice President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SO. ST. PAU L, MINN. A. G. SAM, Treasurer Affiliated with Stock Yards National Bank JAY E. MARKLE, Secretary F. A. BIRCH, Asst. Sec’ y 66 THE NORTHWESTERN !l!llllllll!lllllllllilllll!ll!lll!!llllll!!lllll BANKER August, 1918 lllllllllllllllllllllllll!! NO. D A K O TA BANK N EW S lllllllil NORTH DAKOTA ASSOCIATION OFFICERS. The North Dakota Bankers Association closed a twoday session at Mandan, held July 11th and 12th, and of ficers were elected as follows : J. L. Bell, Bismarck, president; J. J. Earley, Valley City, vice president ; W . F. Hanks, Powers Lake, treas urer; W . C. MacFadden, Fargo, secretary. Valley City was selected as the 1919 convention city. DEPOSITS OF 700 N. D. BANKS GUARANTEED. State Examiner Waters has mailed to 700 North Dakota banks certificates showing that they have quali fied to have their deposits guaranteed under the North Dakota state bank deposits guaranty act, which be came effective July 1st. Under this act one-twentieth of one per cent of the average daily deposits of each state bank is levied to stand as a book credit to a fund not to exceed $100,000 which will be used in guaran teeing depositors from loss against failure or defalca tion. There are 805 state banks in North Dakota. The certificates of 100 have been held up temporarily owing to technical reasons. North Dakota state banks deposits as shown by a report issued by the state examiner are $95,596,469.54, an increase of $4,303,872.62 over May, 1917, and an in crease of $45,000,000 over 1912. The showing is consid Y o u r NEW BANK AT SUTTON. The recently organized Farmers Bank, of Sutton, N. D., is open for business. L. P. Larson, of Binford, is president; H. P. Beck with, of Fargo, vice president; Oscar F. Hoff, formerly treasurer of Griggs county, and later assistant cashier of the Farmers and Merchants Bank, of Aneta, is cash ier of the new institution. The bank is capitalized at $15,000. PEMBINA COUNTY BANKERS CONVENTION. The Pembina County Bankers Association held a very successful meeting at Walhalla, N. D., at the time of their annual meeting. The address of welcome was given by Mayor W . R. McMurray. Among the speakers were C. R. Green, of Cavalier, president of the North Dakota Bankers Association; Geo. H. Johnson, Wales, president of the Northeastern Group of Bankers, and A. McLean, manager of the Bank of Hamilton, Morden, Manitoba. The principal matters discussed were the future de- B a n k Is reflected tionery ered good in view of the large amounts which have been taken out of the state for various patriotic purposes. you by the sta use. We specialize in printed and engraved le tte r h eads, s ta te m e n t f o ld e r s and booklets. S e r v ic e , Q u a lity and Right Prices Alw ays Printing - Binding - Loose Leaf Devices Designing - Engraving - Embossing TBE NORTHWESTERN INVESTMENT COMPANY Kenmare, North Dakota Capital $50,000.00 THE HOMESTEAD GOMPANY N IN E T E E N T H A N D G R AN D DES MOINES, IOWA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis First M ortgage Farm Loans A. G. EN G D AH L, President M. L. JOHNSON, Sec’y H. T . SANDS, Vice President N . H. K. JOHNSON, V. Pres. A . E. PAULSON, Trees August, 1918 THE NORTHWESTERN mands for money to finance the government bonds and other expenses, the matter of Canadian exchange rates and trade acceptances. The officers elected for the coming year are as fol lows: Ed Thompson, St. Thomas, president; Guy M. Jameson, Crystal, vice president; Robert M. Carson, secretary-treasurer. ASSESSED V A L U A T IO N NORTH D A K O TA N E W S AND NOTES. Kenneth Fitch has resigned his position with the Bank of New Effington, N. D. He will enter the army. A. W . Powell, who has been cashier at the State Bank, Bowman, N. D., the past two years, has resigned his position with that institution. Mr. Powell will move to Montana where he has purchased a bank. H. P. Beckwith, of Fargo, N. D., was chosen as vice The Chase National Bank of the City of New York 67 president of the Farmers Bank, which has been re cently organized at Sutton, N. D. L. P. Larson, of Binford, is president and Oscar F. Hoff, former treas urer of Griggs county and later cashier of the Farmers and Merchants Bank, at Aneta, is cashier. The bank is capitalized at $15,000. OF STATE BANKS. North Dakota’s state banks are worth $1,350,OCX) more in assessed valuation than they were in 1917, ac cording to a report by Tax Commissioner H. H. Steel. Under an act of 1917 investments in real estate only to the amount of 60 per cent may be deducted in assessing capital, surplus and undivided profits of banking insti tutions, and the exemption of five per cent of loans and discounts has been repealed. Under the new plan but $263,000 is deductible from capital stock as realty exemption as compared with $6,710,000 in 1917. The net assessment in 1918 is $5,375,000, as compared with $4,019,000 in 1917. In addition there is an increased assessment of $1,350,000 on investments in real estate, made under an act of 1917. BANKER SERVICE THAT SATISFIES L e t us m ake y o u r sh ifts to ord er. y o u samples A ca rd w ill b rin g Swigert-Howard M fg. Co. D es M o in e s , Io w a giiiiiiiinraniiininnnim^^ uiuaiiuiuiniiiiiniiiiiiyg | of the very finest— Q U A L I T Y — is always to be found here § I I Our Banker Customers are many because they get Service plus Quality with every article. RANK CH LAM PP JE W ELERS D E S M O IN E S , Bank Floors 57 Broadway Capital . . . . Surplus and Profits Deposits (June 29, 1918) . $ 10,000,000 12,863,000 344,744,000 that look like marble— cost no more than tile O F F IC E R S A . B a r to n H e p b u r n , C h a irm a n o f t h e A d v is o r y B o a rd A lb e r t H . W i g g i a , C h a irm a n o f th e B o a r d o f D ir e c to r s E u g e n e V . R . T h a y e r , P re sid e n t S a m u e l H . M llle r ....V . P r e s . C h as. D . S m ith ..A s s t. E d w . R . T in k e r ------- V . P re s. W m . P . H o lly .___A s s t. C a rl J. S c h m ld la p p ..V . P re s. G e o . H . S ay lor....A sst> G e rh a rd M . D a h l.......V . P r e s . M . H . H o w e ll........A s s t. A lfr e d C. A n d r e w s — C a sh ie r S. F r e d T e lle e n ..A s s t. C h as. C. S la d e ..A sst. C a sh . R o b e r t I . B a r r ___ A s s t. E d w in A . L e e ....A s s t . C a sh . S e w a ll S. S h a w A s s t . W m . E . P u r d y ....A s s t. C a sh . L . H . J o h n s to n ..A s s t. C ash. C a sh . C ash. C ash. C ash. C ash. C a sh . C ash. D IR E C T O R S H e n r y W . C an n on S a m u e l H . M ille r A . B a r to n H e p b u r n E d w a r d R . T in k e r A lb e r t H . W i g g i n H e n r y B . E n d lc o tt J o h n J . M itc h e ll E d w a r d T . N ic h o ls G u y E . T rip p N e w co m b C a rlto n J a m e s N . H i ll F r e d e r ic k H . E c k e r D a n ie l C. J a c k lin g E ugen e V . R . Thayer F r a n k A . S a y le s C a rl J . S ch m id la p p C h a rle s M . S c h w a b G e rh a rd M . D a h l A n d r e w F le tc h e r WE RECEIVE ACCOUNTS OF Banks, Bankers, Corporations, Firms or Individuals on favorable term s, and shall be pleased to meet or correspond with those who contemplate m aking changes or opening new accounts. FOREIGN EXCHANGE DEPARTMENT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Showing the elegance, strength and dignity of this flooring in bank interiors Send for Samples and prices. STANDARD MOSAIC TILE CO. 515-525 S. Peoria St. C. R. Borchardt, Pres. Chicago Alex. H. Widiger, Secy-Treas. THE 68 NORTHWESTERN BANKER August, 1918 TH E CITY N ATIO N A L BANK OF CLINTON, IO W A Capital, Surplus and Profits • • $ 500,000.00 D e p o s its ................................. $4,200,000.00 OFFICERS A. G. SMITH, President A. C. SMITH, Vice-President and Cashier G. M. CURTIS, Vice-President A. W. HANSEN, Assistant Cashier Accounts of Banks and Bankers received on most favorable terms. Correspondence invited. ............................................................... .......................................................» HOW TO GET PROFITABLE DEPOSITORS. (Continued from page 25.) our appropriation for advertising was $100 per month. Of that we used $50 for newspapers, $25 for circular ............................................................ letters and the other $25 was spent in various ways. Another means of advertising your bank is to extend NORTHWEST CROPS GOOD. Ralph Van Vec'hten, of the Continental and Commer your acquaintance. A banker should not stand back cial National, has returned from a trip to the North oil his dignity, but should have a part in the life and interests of his community. He should take an inter west. “ I was in North and South Dakota and Montana and est in what his neighbors are doing and show that he was most agreeably surprised at conditions there. The is interested^ and he will not only find that it makes people are prosperous and the farmers especially appear life more worth while, but will bring many a customer to be making a great deal of money. Their farms aré to his bank. My country customers, being principally live stock in excellent condition and the ranges were never so good. None but registered breeding stock is being growers, are interested in the markets. If I lived in raised and the results, of course, show in the improved a territory where wheat was the big crop, I would post the grain markets during the shipping season; or, if grade of animals. “ The towns bear evidence of community prosperity in the cotton belt, I would post the cotton market each in that the streets and pavements are excellent and day. Remember that this does not apply to the town good water works systems have been installed. The customers, but the farmer customers exclusively. A banker can well afford to attend the big sales in Northwest, indeed, is very much alive. The towns have his community. This is only an indirect way of ad none of the appearance of frontier settlements. vertising his bank. I try to attend the larger sales, Your savings and my savings for your flag and my particularly the “ fine bred” stock sales, and arrange to say something for the breeders just as the sale opens. flag—buy Thrift Stamps. I NORTH D AK O TA The Des Moines National Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines, Iowa T h e policy of this bank is to cultivate helpful business relations with its correspondents and to render at all times the service which their needs demand and which our equipment insures. A n expe rience extending over thirty-five years in catering to such needs has provided a broad understanding o f the requirements in this field. W e cordially invite a share o f your business. Capital and Surplus $ 900,000 Resources over 10,000,000 Arthur Reynolds, President John A. Cavanagh, Vice-President John H. Hogan, Cashier C. A. Barr, Vice-President C. A. Diehl, Assistant Cashier m August, 1918 THE NORTHWESTERN I always try to make truthful statements— but some thing favorable for the breeder and his stock. The present era of thrift can be used to advantage by every banker. He can advertise thrift, talk thrift, and set an example of thrift. It will not only help his community, but will also help his bank. Every bank is called on periodically to publish a statement. The form prescribed by law is simply Greek to the average citizen. But a plainly worded statement can. be made a pulling ad for a bank. Don’t say anything or even insinuate anything in your ads about your competitor. If you do, you will advertise him. Remember the old adage, “ If your competitor talks about you, put him on your pay roll.” W e study every local incident to see if it can be used as the basis of an advertisement. Let me tell you something, confidentially. When money is tight or a panic is on, don’t stop advertising — rather double your advertising space. Most banks, as is true in other lines of business, either curtail their advertising or stop it entirely at such times. This is a great mistake. During the fall and winter of 1907, again when the war broke out in 1914— and conditions began to tighten— I increased my advertising. It counted for my business for two reasons: First, every body else quit and my advertising had no competition and was, therefore, more effective. Second, my de positors felt closer to my bank, which made no bones about conditions being slow, but stated that it was prepared to meet just such conditions. Heart-toheart letters and other advertising made people feel that they were a part of the bank and were well posted on the bank’s condition. There is one thing a banker must remember, and that is that his bank is no stronger than public patron age makes it. The banker does not make the public, but the public makes him; and the big idea in adver tising a bank is to make the public have confidence in your bank and its service. BANKER 69 ESTABLISHED 1872 R A CRAWF0RD President C. T. COLE. JR. Vice-President D. S. CHAMBERLAIN Vice-President W. E. BARRETT Cashier New and Modern Home oi the VALLEY NATIONAL BANK and VALLEY SAVINGS BANK DES MOINES, IOWA C o m b i n e d C a p i t a l a n d S u r p l u s , $ 8 0 0 ,0 0 0 .0 0 A n x i o u s t o s e r v e , E q u ip p e d t o s e r v e w e l l — W e s e e k th e o p p o r t u n i t y . See What President Davis Says in th is is s u e — n o t e t h a t h e h a s f o r t y p e r c e n t o f th e d e p o s its in h is c o u n t y — a n d t h a t m u c h o f t h is b u s i n e ss w a s b u il t t h r o u g h le tte r s — t h e n w r ite t o “ le t te r h ea d q u a rters DES MOINES DUPLICATING CO. W ILL Des Moines, Iowa H. ZAISER S P E C IA L T Y CO. B A N K E Q U IP M E N T O r ig in a to r s “ Z a is e r ’ s ” s e lf -in d e x e d l o o s e le a f b a n k le d g e r s . A n y a c c o u n t f o u n d in f o u r s e c o n d s . A fu ll lin e o f b a n k su p p lie s a n d s p e c ia lt ie s . S h a w W a lk e r s te e l a n d w o o d f ilin g d e v ic e s . 314 7th Street, DES MOINES, IOW A Twelve Months Service to Country Banks O ur se a so n f o r se rv ic e to c o u n tr y b a n k s b e g in s J a n u a ry 1 st and ends D e c e m b e r 3 1st. T h e first e s s e n tia l o f our a b ility to se rv e y o u is a n sw e re d b y ou r c a p ita l o f $ 1 ,0 0 0 ,000 (d e p o s its $ 1,6 0 0 ,0 0 0 )— th e la r g e s t c a p ita l in p ro p o r tio n to d e p o s its o f a n y h a n k in th e M id d le W e s t . The secon d and e q u a lly im p o r ta n t e s s e n tia l to y o u is ou r d esire to m e a su re up, in e v e r y w a y , to y o u r f u ll r e q u ire m e n ts. P le a s e w r ite u s, or c a ll and g e t a c q u a in te d the n e x t tim e y o u a re in D e s M oin e s. BANKERS TRUST COMPANY DES MOINES, IOWA CAPITAL ONE MILLION DOLLARS Lawn Tents Camping B . F . K a u ffm a n , P re sid e n t F . W . S a r g e n t, V ic e P re s id e n t D . E . A lld r e d g e , A s s t . C a sh ier C. H . S te p h e n so n , C a sh ier S. C. P id g e o n , S e c re ta ry Tents, Awnings DES MOINES TENT & AWNING CO. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A s h to n C le m e n s C. L . H e r r in g F . W . Sargen t D IR E C T O R S D r. O. J. F a y J. W . H o w e ll S. S h eu e rm an H . H . P o lk B . F . K a u ffm a n R . R . R o llin s THE 70 NORTHWESTERN BANKER August, 1918 A D V E R T IS IN G T H R IF T FO R THE BAN K ER Keep busy! Yourself and your advertising. Make your advertising today do twice what it did yesterday. It can. Advertising is the matchless messenger of war times. It speeds your message on wings fast as thought, and cries it in a breath from the house tops and steeples of the nation. Whenever the government must get quick word to our people, and an answer as quickly, it enlists advertising. The Liberty Loans, the Red Cross campaigns, the Y. M. C. A., Knights of Columbus, Smileage, all bear willing witness to the wonder work of advertising. For it is the great time-saver, and time to do all we must do is the task of the times. Time-thrift is war-thrift. And advertising is time-thrift. It is the thrifty way to get your message to your country. It is the quick educator, the sure inspirer. Be thrifty with your advertising. Don’t stint it. Make the most of it. First be sure of your message; then put the efficiency test to the means of spreading it. Scrutinize your space. Useful ness has the right of way over artistry. Some advertisers are making their advertising do double duty, working for their country selling Liberty Bonds and Saving Stamps as it sells for themselves. Think how you can make your ad vertising a two-mouthed salesman. Don’t stop advertising. W ar time is no time to stop anything, except wasted time. Advertising has uses it never had before. Look into its new and special uses for yourself. It will save time for you and your men in what ever you are doing. Use advertising to be time-thrifty and wr2rthrifty.—W . H. Rankin. IN D E X TO A D V E R T ISE R S F ir s t J o in t S to c k L a n d B a n k ----------------72 M e r c h a n ts L if e In su ra n c e C o m p a n y ....31 A N a tio n a l Bank, C edar F ir s t N a tio n a l B a n k , C h ic a g o ..... —.......13 M e r c h a n ts A m e r ic a n B o n d in g and C a s u a lty R a p id s , I o w a ...................................................25 C o m p a n y — ---------------------- --— U— ;------ 33 F ir s t N a tio n a l B a n k , C o u n cil B lu ffs ....47 M e r c h a n ts N a tio n a l B a n k , O m a h a .......51 F i r s t N a tio n a l B a n k , D a v e n p o r t....... 1 A m e r ic a n C o m m e rc ia l an d S a v in g s M e r c h a n ts L o a n & T r u s t C o m p a n y ....l8 B a n k -------------------------------- ------------------------f® F ir s t N a tio n a l B a n k , D u b u q u e ..I— 25 M e tro p o lita n T r u s t C o m p a n y -------------- 19 A m e r ic a n F ix t u r e C o m p a n y ..------- ....— 57 F i r s t N a tio n a l B a n k , S io u x C ity ,.......... 1 M id la n d M o r t g a g e C o m p a n y ------------------ 39 F ir s t N a tio n a l B a n k , St. P a u l--------------55 A m e r ic a n M ortga ge & S e c u ritie s M id la n d N a tio n a l B a n k ............................... 54 C o m p a n y ......................................................... 36 F ir s t N a tio n a l B a n k , W a t e r lo o ------------ 2 M u eh le , L . J ................................................. -.......17 A m e r ic a n S ta te B a n k ................................... 2 F is h e r -M o r r is C o m p a n y ............................... 21 M u sc a tin e S ta te B a n k .................. 18 A tla n t ic N a tio n a l B a n k ...............................12 F o n te n e lle H o t e l...................... --....................... 1 N F t. D e a r b o r n N a tio n a l B a n k ----------- — 16 B F r id s te in & C o m p a n y ------------------------------64 N a tio n a l B a n k o f th e R e p u b lic ----------39 TJq ft Trf i y* .Til P.fth _____ ...........................5 3 N a tio n a l C ity B a n k .........................................25 6 B a n k e r s A c c id e n t In su ra n c e C o m G ira rd N a tio n a l B a n k ................................... 13 N a tio n a l F id e lit y L if e In s u ra n c e C o ....31 p a n y _______________ _______ ......................... --32 G o ld -S ta b e c k C o m p a n y ...............................--56 N a tio n a l S e rv ic e C o rp o r a tio n ................... 57 B an kers H o ld in g an d I n v e s tm e n t N ic o ll th e T a ilo r ............................................... 19 G ord on V a n T in e ..........................——--------- 66 C o m p a n y ...............................................-........ G r e a t W e s t e r n A c c id e n t In s . C o ........... 28 N o r th w e s te r n A u d it C o m p a n y -------------- 62 B a n k e r s L if e In su ra n c e C o m p a n y .......31 G u a r a n ty C a ttle L o a n C o..........................11 N o r th w e s te r n N a tio n a l B a n k ---------------- 63 B a n k e r s M o r t g a g e C o .................................... J G u a r a n ty L if e In s u ra n c e C o .—..............26 N o r th w e s te r n N a tio n a l L if e In su B a n k e r s T r u s t C o m p a n y , D e s M o m e s..6 9 G u a r a n ty T r u s t C o m p a n y ----------------------15 ra n c e C o ----------------------------------------------------- 1 B a n k e r s T r u s t C o m p a n y , N e w Y o r k ....2 2 G u th rie , W m ..........................................................41 N o r th w e s te r n In v e s tm e n t C o m p a n y ....6 6 B a n k e r s R e a lt y In v e s tm e n t C o., C h i O H c a g o ---------------------------- -1---------------------------- 38 H a ls e y , S tu a r t & C o m p a n y ........................37 O m a h a N a tio n a l B a n k ................................. 53 B e c h te l, G e o r g e M . C o ..................................37 H a m m o n d P r in t in g C o m p a n y .................58 P B illin g s , P r o u ty & T o m p k in s ................... 60 H a m m a r s tr o m , A . H ------------------------41 P a cific M u tu a l L if e , M . J. D illo n ......... 33 B ish o p , E . J ..........................................................66 H a n c o c k L if e In s u ra n c e C o m p a n y ....27 P a c k e r s N a tio n a l B a n k ............................... 50 B la c k h a w k N a tio n a l B a n k ........................49 H a n o v e r N a tio n a l B a n k ---------------------— 1 P e o p le s S a v in g s B a n k ------------------------------ 48 H a r g e r an d B lis h -------------------------------------- 61 P e o p le s T r u s t & S a v in g s B a n k ------------24 C P e o ria L if e In su ra n c e C o m p a n y ........... 34 Pfl o fl a TTot<*l . ..............................S 3 H a w k e y e S e c u ritie s F ir e In s u ra n c e R C e da r R a p id s L ife in s u r a n c e C o m C o................................-.............................................31 66 R h o d e s , W a l t e r H -------------------------------------- 50 p a n y ................................. B i ----------------------- 33 H o lla r , F . P . & S on .................... C e da r R a p id s N a tio n a l B a n k ................... 49 H o m e s te a d C o m p a n y ...................................... 66 R ic k e r , R u f u s ...... ..............................................45 H o m e S e c u ritie s C o m p a n y ........................39 R o y a l U n io n M u tu a l L ife In su ra n c e C e n tr a l N a tio n a l F ir e In su ra n c e C o ..............................................................................28 I C o m p a n y ------------------------------------------------- 28 S C e n tr a l S ta te B a n k .........................................44 I n te r -S t a te N a tio n a l B a n k ........................71 C e n tr a l T r u s t C o m p a n y o f I llin o is ...... 2 I n te r -S t a te A u to In s u ra n c e C o ..............29 S ch a n k e & C o m p a n y -------------------------------- 37 C o..................................................I......................... 29 S ch la m p p , F r a n k ................................................67 C e n tr a l L if e A ss u r a n c e S o c ie ty .............. 34 S ea b o a rd N a tio n a l B a n k ------------------------ 45 C h a se N a tio n a l B a n k ...................................... 67 I n te r -S t a te B u s in e s s M e n ’s A c c id e n t 41 A s s o c ia tio n ..................................................... 30 S econ d N a tio n a l B a n k --------------------C ity N a tio n a l B a n k , K e a r n e y , N eb ....52 C it y N a tio n a l B a n k , C lin to n , Io w a ....6 8 I o w a B o n d in g & C a s u a lty C o ................ 30 S e c u rity N a tio n a l B a n k -------------------------- 40 C la r k , B y e r s & H u t c h in s o n ........................32 I o w a I n v e s tm e n t C o rp o r a tio n ................ 72 S in clair, Joh n F . C o ...................................... 56 C o m m e rc ia l N a tio n a l B a n k ........................48 I o w a L o a n & T r u s t C o m p a n y -------------- 71 S io u x F a l l s N a tio n a l B a n k -------------------- 62 C orn E x c h a n g e N a tio n a l B a n k ..............14 I o w a M u tu a l L ia b ilit y In s u ra n c e Co..30 S nap p H o t e l..........................................................49 C o n tin e n ta l N a tio n a l B a n k ........................46 I o w a N a tio n a l B a n k , D e s M o in e s......... 47 S tan d a rd M o s a ic T ile C o m p a n y ----------67 I o w a N a tio n a l F ir e In su ra n c e C o ------27 S to c k y a r d s N a tio n a l B a n k ........................52 C o n tin e n ta l an d C o m m e rc ia l N a tio n a l 58 B a n k ....................................................................55 I o w a N a tio n a l B a n k , D a v e n p o r t--------22 S to w an d D a v is .......................................... St. P a u l C a ttle L o a n C o ...--------------------- 65 J C o m m o n w e a lth L if e In su ra n c e C o m St. P a u l S ta m p W o r k s ....................................56 p a n y ______________________________________ 27 J a m e s V a lle y B a n k .................................. .....62 K S u c c e s s fu l F a r m in g .........................................35 C ra d d ick , H . B .................................................. 23 C u p p le s E n v e lo p e C o m p a n y ..................... 25 K n a u th , N a c h o d & K ü h n e ........................65 S w ig e r t-H o w a r d M fg . C o m p a n y ----------67 C u ste r C o u n ty B a n k -----------------58 K n ig h t, E . F . C o m p a n y .............................. 41 S y n d ica te T r u s t C o m p a n y ---------------------- 48 T Ii D 17 D e s M o in e s D u p lic a tin g C o ..................... 69 L a m s o n , W . A .....................................................21 T h e T h r i ft P r e s s ..................................... D e s M o in e s L if e an d A n n u ity C o .........32 L a r m o n , L . L ....................................................... 53 T u lle y s , Jo h n W ................................................51 U D e s M o in e s N a tio n a l B a n k ........................68 L e a v it t & J o h n so n T r u s t C o m p a n y ....38 D e s M o in e s T e n t & A w n in g C o .............. 69 L e a v it t & J o h n so n N a tio n a l B a n k ...... 17 U n ite d S ta te s N a tio n a l B a n k ................-5 1 D r a k e -B a lla r d ...................................................57 L iv e S to c k E x c h a n g e N a tio n a l B a n k ..l9 U n io n T r u s t C o m p a n y ------------------------------ 15 V S to c k N a tio n a l B a n k , S io u x D r o v e r s N a tio n a l B a n k ............................... 72 L iv e C ity ...................................................................... 42 V a l l e y N a tio n a l B a n k ....................................69 Ej E h r lic h & S on s M fg . C o............................... 23 L iv e S to c k N a tio n a l B a n k , O m a h a....46 V a n H o rn , C lu e tt & C o m p a n y -------------- 16 W E lli s & H o lla n d .................................................. 32 L y t le C o m p a n y ...................... i........................ 59 63 W a lt e r s , C h a s E .............. M E q u ita b le L if e In su ra n c e C o ................... 31 E v a n s H o te l C o m p a n y .................................... 64 M c C o n n e ll & M o e lle r -------------------------------- 51 W e s t e r n L if e In s u ra n c e C o m p a n y ...... 32 38 M c N a m a r a -K e n w o r t h y C o m p a n y .........20 W h i t e C o m p a n y ................................... F % F a r m e r s L iv e S to c k In su ra n c e C o .—..34 M e c h a n ic s S a v in g s B a n k .............................16 F i r s t & S e c u rity N a tio n a l B a n k .........56 M e c h a n ic s & M e ta ls N a tio n a l B a n k .... 2 Z a is e r, W . H ., S p e c ia lty C o------------------ 69 p ,iiiiiiin iiiiiiiiiiiiiiiiiiiiiiiu iii> i> iiiiiiti!ii!iiiiiu iiii!iiiiiiiiiiiiiiiiin iiin !iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii!u i]iiiiin iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiin in iiin in i> n iiiiiiiiiiiiiiiiin iiiiiiii!iiiin iiiin iiin in iiiin iiiiiiiiiiin iiiiiiiiiiiiiiiiiiiiiiii!iiin ii!iiii https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis August, 1918 THE NORTHWESTERN BANKER 71 The ENTER-STATE N ATIO N AL BANK Presided GEO. S. HOVEY KANSAS CITY, MO. Only Bank in Live Stock Exchange Building. Vice Presidents “ R. M. COOK J. M. HELLINGS Twenty-seven years o f dependable banking service under the same name and no consolidations. Cashier Capital, Surplus, \ Undivided Profits/ A. B. CHRISMAN DAVID T. BEALS F. B. MOORE GUY H. JAMES ^ *r A n r\ r\ Cattle Loans Assistant Cashiers https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ Our shareholders also own pro rata the stock of the Inter-State Cattle Loan Company with Capital and Surplus of $750,000. W e will be glad to correspond with bankers interested in the pur chase of cattle paper bearing our endorsement. The Iowa Loan & Trust Company Bank OF D E S M O I N E S , I O W A "T H E B A N K FO R A L L T H E PEO PLE” Statem ent ol Condition at the clo se of B u sin ess June 29,1918 C a ll fr o m th e S u p e r in te n d e n t o f B a n k in g RESOURCES LIA B ILIT IE S Real Estate M ortgage Lo an s ................................. $3,134,328.77 C o lla te ra l and Personal Lo an s . . . ............................ 3,753,567.88 Bonds, Stocks, e t c . . . . ........ 1,156,566.33 S to c k in Fe d eral R eserve B a n k ................................... 22,500.00 Real Estate ............................ 96,981.83 F u rn itu re and F i x t u r e s . . . . 3,275.91 Cash and Due from B a n k s .. 1,292,830.00 C a p ita l ................................... Re-discounts 526,478.94 ......................... 1,323,776.50 “ Banks $1,662,691.97 “ C o m m e rcia l “ D ebentures “ T im e 1,734,144,24 1,668,600.00 2,044,359.07 7,109,795.28 $9,460,050.72 G iv e us a ch a n ce to figure on som e o f y o u r business. y o u r farm loan a p p lica tio n s to us. D. H. M c K e e , V ic e Pres. L. E. Stevens, V ic e Pres. D. F. W itte r, V ic e Pres. 500,000.00 Deposits $9,460,050.72 C all o n us w hen in the c ity . $ S u rp lu s and P r o fits ................ S u b m it W e are alw ays in the m ark et fo r m ortg ag es. G. B. H ippee, P resid e n t B. B. V orse, C a sh ie r J. E. M orton, A s s ’t C a sh ie r G. W . G ray, T re a s u re r E d w in H u lt, S e cre tary Sim on Casady, T ru ste e J. G. Rounds, T ru ste e THE 72 Q ~ IO W A NORTHWESTERN S E C U R IT IE S Q T he Premier Security o f the W orld S Waterloo, Iowa ^ C a p ita l, $200,000.00; S u rp lu s, $60,000.00. r ■pi co ü 3 c¡ ^ Jouta Jmtrotmrnt doroorattou I ü M îx Jc JO M C / a FOR A U G U S T W E Q U O TE H ib d August, 1918 BANKER N 7% Gold Equipment Notes by Kansas 'City Northwestern Ry., denominations of $2,000. Seven to 18 months guaranteed by ourselves. Character of paper certified by President of Large Bank in Kansas City, who says, in refer ring to above line: “ Were it not for exceeding tieavy demand, I assure you we w ould be more than pleased to take the paper referred to.” Plenty of Iowa banks with idle funds. I want to hear from 12. F. B. Dietrick, Asst. Treas. V E S T M E N T S T h e re h av e b een lo a n e d b illio n s o f d o lla rs on corn b e lt lan d w ith o u t th e lo s s o f a s in g le d ollar and m o r t g a g e s on th ese la n d s h a v e c o m e to be re g a rd e d as one o f the p re m ie r se c u ritie s o f th e w o rld and are held b y th e m o s t c o n s e r v a tiv e in v e s to rs o f th e n ation . T h is b a n k is m a k in g lo a n s on th is s a m e lan d and to the s a m e fa rm e r und er e v e ry k n o w n s a fe g u a r d w ith an ad d ed s e c u rity o f g o v e r n m e n ta l in sp e ctio n and a p p ro v a l o f title s and v a lu e s . T h e five per ce n t b o n d s issu e d b y th is b a n k are b a sed on m o r tg a g e s on fa r m la n d s o n ly in tjie corn b e lt o f I llin o is and Io w a . T h e s e b o n d s are in s tr u m e n ta li tie s o f the g o v e r n m e n t o f th e U n ite d S ta te s and as su ch , th e y and the in co m e d erived th e r e fro m , a re e x e m p t fr o m fe d e ra l, s ta te , m u n ic ip a l and lo c a l ta x a tio n . A n y F e d e ra l R e s e r v e B a n k and a n y m e m b e r b a n k o f th e F e d e ra l R e s e r v e S y s te m m a y b u y and se ll fa r m lo a n bo n d s issu e d b y th is b a n k . S aid b o n d s, are a l a w f u l in v e s tm e n t fo r a ll fid u ciary and tr u s t fu n d s , and m a y be acce p ted as s e c u rity fo r a ll p u b lic d ep o sits. First Joint Stock Land Bank O F C H IC A G O C A P I T A L $250,000.00 C o n tin e n ta l-C o m m e r c ia l B a n k B ld g ., C h ic a g o V a lle y N a tio n a l B a n k B ld g ., D e s M oin e s, Io w a Profits Assured W e in v ite in q u irie s fo r f u ll in fo r m a tio n fr o m B a n k e r s , T r u s t C o m p a n ie s an d E s t a t e s . O — ----------- F O R I O W A N S — O Drovers National Bank OF C H IC A G O DIRECTORS OFFICERS AVERILL TILDEN WILLIAM C. CUMMINGS, President L. B. PATTERSON M ERRILL W. TILDEN, Vice President JOHN FLETCHER GATES A. RYTHER, Vice President MERRILL W. TILDEN FREDERICK N. MERCER, Cashier W M . C. CUMMINGS H ARRY P. GATES, Asst. Cashier- BRYAN G. TIGHE DALE E. CHAMBERLIN, Asst. Cashier GATES A. RYTHER H. J. AARON GEORGE A. MALCOLM, Asst. Cashier https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Capital and Surplus, $ 1 ,0 0 0 ,0 0 0 Has for over thirty years rendered quick and efficient service to its correspondents
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