Full text of The Northwestern Banker : December 1905, Tenth Year, Number 12

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

w /

Tenth Year,
====

==

T H E

OF

v

Des Moines, Iowa, December, 1 9 0 5 .

r> .

'

Hanover
National
Bank

THE CITY

OF

NEW

YORK

Nassau and Pine
JAS. T. WOODWARD, President
JAS. M. DONALD, Vice President
WM. HALLS, Jr., Vice President
WM. WOODWARD, Vice President
ELMER E. WHITTAKER, Cashier
CHAS. H. HAMPTON, Cashier
WM. I. LIGHTHIPE, Ass’t Cashier
HENRY R. CARSE, Ass’t Cashier
ALEXANDER D. CAMBELL,
Ass’t Cashier.
E stablished 1851.
C a p ita l

Number 12

^U . s . DEPOSITORY^

------- THE--------

Iowa national Bank
O F DES MOINES
«

lOants **

Iowa School Bonds
If you have any for sale write the
“ I o w a N a t io n a l B a n k ,
D e s M o in e s , ”

Citizens
National
Bank
D E S

H. S BUTLER, President
C. C. PROUTY, Vice President
J. H. COWNIE, Vice President
H. T. BLACKBURN, Cashier

} . 1

Capital,
:
: $ 1 0 0 ,0 0 0 .0 0
Surplus and Profits,
5 0 ,1 0 8 .0 8
Deposits,
:
:
2 ,2 1 3 ,1 1 4 95

C A P IT A L , $ 2 0 0 , 0 0 0
SURPLUS,

Bank Accounts Solicited. Money
to Loan at Lowest Rates.

--------- THE

Bankers National Bank

I© W H

J. G. R ounds ........President
Geo. E. P earsall ...C ashier
Geo. Cooper , Asst. Cashier

$ 3 ,© © © ,© © ©

Surplus Fund $ 6 , 2 5 © , © © ©

M © IN E S ,

1 0 0 ,0 0 0

accounts solicited

Davenport Savings Bank,
DAVENPORT, IOWA.

OF CHICAGO, ILL.

1-

Capital,
$ 3 0 0,0 00.0 0^
Undivided Profits,
184,455.24
Deposits,
3 ,8 0 4 ,6 7 2 .8 5 J

| Capital, Surplus & Profits 83,065^468 '|
EDWARD S. LACEY, P r e s id e n t . JOHN C. CRAFT, V ic e -P r e s id e n t .
FRANK P. JUDSON, C a s h ie r . CHAS. C. WILLSON, A ss ’ t C a s h ie r .
RALPH C. WILSON, A ss *t C a s h ie r .

1896
1899,
1902.
1905.

DEPOSITS.

.........................................$ 2,888,069.79
.........................................
8,912,629.97
..............- ........................
12,835,141.59

A.

.........................14 ,6 0 1, 4 9 5 . 0 1

New Business Desired and Unexcelled Facilities Offered.

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

Officers

WILLIAM O. SCHMIDT, Pres.
LOUIS HALLER, Vice-Pres
HENRY C STRUCK, Cashier.
O T T O L. LADENBERGER, T eller.

COMPARATIVE STATEMENT, SHOWING INCREASE.

November 9,
November 9,
November 9,
November 9,

• ••

* Directors«
Burdick
L outs Haller
a . Steffen
w . O. Schm idt Thko . K rabbenhoeft
J. f . Dow
H. K ohrs
W . H. W ilson
H. C. Struck
«««

Cent Interest Paid on Deposits. Monev Lnaneri
4 onPerReal
Estate Security in the State of Iowa.

THE

2

N O RTH W ESTERN

Commercial national Bank
C hicago

National BanK

Capital, $2,0 0 0 ,0 0 0 .0 0
Surplus and Undivided Profits, $1,700,000.00

G . B. S m i t h ,
A ssistant Cashier.
H. C. V e r n o n ,
Assistant Cashier.
H. E. S m i t h , - Assistant Cashier and Auditor.
W m . T. B r u c k n e r ,
Assistant Cashier.
L. S c h u e t z , Asst. Mgr. Foreign Banking Dept.

December, 1905.

S E C U R IT Y

ES TA B LIS H E D , 1864.

OFFICERS.
J a m e s H. E c k l e s ,
- President.
J o se p h T. T a l b e r t ,
■ Vice-President.
R a l p h V an V echten,
2d Vice-President.
Da v id V ern on ,
- 3d Vice-President.
N. R . L o sc h ,
.
. . .
Cashier.

BANKER

S IO U X CITY, IO W A
Capital

-

$ 2 5 0 ,0 0 0 .0 0

Surplus and Profits
Deposits

-

-

-

-1 2 2 ,1 3 8 .7 8

-

2 ,6 5 5 ,8 3 0 .7 5

W . P. M a n l e y , President.
C. L. W r ig h t , Yice-Pres.
T. A. B l a c k , Vice President.

C. N. L u kes , Cashier.

C. W. Britton , Asst, Cashier,

DIRECTORS.
F r a n k l in M a c V e a g h ,
P au l Mo rto n ,
W il l ia m J. C h a l m e r s ,
D a r iu s M il l e r ,
R o b e r t T. L in c o l n ,
C h a r l e s F. S p a l d i n g ,
E. H. Gary,
J o se p h T . T a l b e r t ,
J a m e s H. E c k e l s ,

L iberal Term s and th e B est F acilities are A ccord ed to
Banks and Bankers for the Transaction o f D om estic and
F oreign B u siness. By Special A rran gem en t C orresponden t
Banks are enabled to D raw their Own D rafts D irect on all the
Im portan t Cities and B anking T ow n s o f the W orld .
Circular L etters o f Credit Issu ed for Travelers—G ood E very­
w here. Special A ll-A m erica C redits—A vailable in N orth and
South. A m erica. D om estic L etters o f C redit—G ood T h rou gh ­
ou t the U nited States. Com m ercial Credits G ranted to Im porters. Cable T ran sfers. Bank P ost R em ittances

H. D. C O P E L A N D & CO.

Ove Stock Commission merchants
Mr. Copeland was formerly an Iowa Banker
and State Bank Examiner from 1884 to 1893

183 N e w E x c h a n g e B u ild in g
U n io n S to c k Y ard s
REFERENCES

National Live Stock Bank, Chicago
National Bank of Republic, Chicago

L IV E S T O C K S H IP M E N T S S O L IC IT E D

TH E

CUBA

C h ic a g o

F

1905

E D I T I O N

R

in a n c ia l

IS

NOW

ed

READY

B

ook

FOR

OF

of A

T H E

m e r ic a

DELI VERY

A Manual
of the wealthy people of the United States,
containing about 18,000 names of individuals
and estates of wealth, office and residence ad­
dresses, connections and other details.
This season will mark the inauguration
of the

H

a v a n a

L

Arranged alphabetically by states, sub-divided
by cities and towns, also

im it e d

a complete and accurate list of all Stock Ex­
change members and addresses in the United
Staets and Canada.

Between

CHICAGO, ST. LOUIS and MOBILE
In connection with the

S. S . “ P R I N C E G E O R G E ”
Between

MOBILE AND HAVANA.
The H avana L im ited will be a tra in de
lu x e , operated on a fast schedule over the
Chicago <5p A lton and M ob ile
Ohio
Railroads, making immediate connection at
M obile with the superb nineteen knot, electric
lighted, steel,twin-screw S.S."Prince G eo rg e, ”
which is constructed on the lines of the ocean
greyhounds Campania and Lucania, with accom­
modations for two hundred first cabin passengers
and sixty second cabin. The trip from Chicago
to Havana will consume sixty hours.
For full information, write Jno. M. Beall,
General Passenger Agent, Mobile CS, Ohio Rail­
road, St. Louis.


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

The usefulness of the word is unlimited. Not only
is it a comp'rehensive reference book for the seller, etc.,
but a volume adopted particularly to your requirements
for addressing and other purposes.
It commends itself to all wise, thinking and careful
business offices.
We are confident that its use will
bring you satisfactory returns.
P

r i c e

, T

en

D

o l l a r s

Less than sixty cents per thousand names, which
it would be practically impossible for you to secure in
any other way. Delivered anywhere in United States.
ORLANDO

S ix

Wall

C.

LEWI S

Street

& CO., P u b l i s h e r s
Ne wNo rk

December, 1905.

THE

N O RTH W ESTERN

THE FIRST N A T I O N A L
B A N K OF C H I C A G O
C APITAL,
SU R P LU S,
DEPOSITS,
J. B. F o r g a n , Pres.

$ 8, 000,000.00
5 ,0 0 0 ,0 0 0 .0 0
9 6 ,0 0 0 ,0 0 0 .0 0

D. R. F o r g a n , Y-Pres.

BAN KER.

3

*,H ,++,H"H"N,++++++++i>++++<"|>'H“H"H'+'H'+++'|>x

I
4»

*
♦

E stablish ed 1868.

t

*

+

+
*

F U L L P A ID C A P IT A L , O N E M IL L IO N D O L L A R S *
N o w is th e T im e fo r Live A g e n ts
to J o in th e A gency F orce o f - ^

F. O. W e t m o r e , Cash.

Cordially invites the business
of banks and bankers intend­
ing to carry Chicago accounts.
We offer the unexcelled facili­
ties afforded by ample capital,
large resources and a superior
list of correspondents.
Under our official organization
the business of Banks and
Bankers has the personal atten­
tion of two experienced bankers

THE NATIONAL
Life Insurance Company
of the United States of America

F. M. STARNES, President
A ssets

Insurance in F orce

$5,246,868.48

OYER $43,000,000

D I V I S I O N for B a n k s a n d B a n k e r s .
AUGUST BLUM, Manager
HE ÜBER 1? W. BROUGH, Aist. Manager

A d a m R o c k y , Prest.
J a m e s A . H a l l , Sec. & M gr.


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

N a t’ i L ife

B u ild in g

jZ ?

C H IC A G O

THe

Am erican LitHograpHing; Co.
of Des Moines
A new, complete and modern Lithographing establishment, mak­
ing a specialty of fine BANK WORK of every description. When
in the market for Drafts, Certificates, Checks, Letter Heads, Pass
Books, Blank Books, Stationery, etc , address
AMERICAN LITHOGRAPHING CO.,
D es M o in e s , Io w a .

T he Largest B A N K SUPPLY HOUSE, in the West

ST. PAUL FURNITURE CO.
Designers and Manufacturers

Bank Fixtures
and Furniture
Complete Equipment
High-Grade Cabinet: Work:

Catalogue Mailed

ST . P21UL, MINN.

N O RTH W ESTERN

BANKER.

December, 1905,

A Bank is S trong or N ot in P roportion to its Capital and
Surplus and A b ility o f its M anagem ent to In v e s t its Funds

+
+
+
*
+
+
*
*

DES MOINES
Savings Bank

+
4*
+
+
4»
4*
4*
4»
♦
4»
4*
4»
4*
4*
4«
4»
4»
*
4*

Statem ent o f C ondition at Close o f Business
N ovem ber 9, 1 9 0 5
RESOURCES:
Bills Receivable-.................................
Furniture and Fixtures......................
Cash and Exchange..............................

$5,601,271.12
661.48
1,218,910.66

Total............................................

$6,820,8 S6.26

LIABILITIES:
Capital Stock........ ................... ........ . $ 500,000.00
Surplus and Profits..............................
180, 119.24
Deposits...............................................
6,140,727.02
Total............................................

$6,820,846. 26

4»

«
4*

With an equipment unsurpassed and a
volume of business enabling us to handle
successfully any branch of your business,
including your farm loans, we ask you for
your business, honestly believing we can
make an account with us of immense ad­
vantage to you.

*

*

OFFICERS AIND DIRECTORS
P. M. C a s a d y , President.
S im o n C a s a d y , Vice President.

H o m e r A. M i l l e r . Cashier.
C. T. C o l e , J r . , Ass’t Cashier.
J a s . J. B e r r y h i l l .
L. H a r b a c h .
J a s . H. W in d s o r .
Ed w . A. T em ple.
E. C. F i n k b i n e .
N> S. M c D o n n e l l .
G. M. H i p p e e .

4*
4*
4»
4*
4*
4»
4*
4*
4»
4»
4*
4*
4»
4»
4»

IO W A STATE B A N K , IIULK, IO W A .
T T _

„ „

November 21, 1905.

J. J. D e r i q h t & C o .,

Omaha, Nebraska.
Gentlemen:—In reply to your favor of the 18:h inst. rela­
tive to the attack on our bank by burglars will say that they
entered the banking office by the rear window. Our vault
showed a few scratches on the upper end of door evidently
made by a steel punch. We presume when they looked over
premises and found a metal sign of safe hanging on the vault
door knob, which informed them of the kind of safe they
would have to contend with they abandoned the job.
They then went across the street and blew open the safe
in the jewelry store and got away with about $1, 500 worth of
jewlery. Several of our customers expressed their views
and congratulated us on having a Manganese Steel Safe.
Yours truly,
(Signed) E. H. REIMAN, Pres’t.
T
N ew Y o r k , November 28, ’05.

J. J. D e h i g h t & C o .,

Omaha, Nebraska.
Burglars attacked number three Manganese at Bank of
Latah, Washingion, Saturday last, using large quantity
nitro-glycerine without avail.
MANGANESE STEEL SAFE CO.
I b i s M igh t!H ap pen to Y ou.

J. J. D EH IG H T & CO., Safe Dealers,
OM AH A, NEBRASKA.
Large stock of New and Secondhand Safes of different makes.

•4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 t

THE

1 A if

Landers iAütüal Casualty Co.
DES MOINES, IOWA

Director!:

W. E. COFFIN, Presidentlowa Loan & Trust Co., Des Moines, Iowa.
J. G. ROUNDS, President Citizens National Bank, Des Moines, Iowa.
A. U. QUINT, Manager, Des Moines, Iowa.
B. P. SCOTT, Cashier Citizens National Bank, New Philadelphia, O.
WM. A. GRAHAM, Cashier Citizens Bank, Sidney, Ohio,
F. M. RUDD, Cashier L. Rudd & Sons Bank, Bronson, Michigan.
M. D. WAGNER, President Huron County Bank, Harbor Beach, Michigan.
NO. W. FAXON, Ass’t Cashier First National Bank, Chattanooga, Tenn.

Directors:

C.F'SMITH, Cashier First National Bank, McGregor, Texas.
A.E PAULDING, Cashier Ainsworth Savings Bank, Ainsworth, Iowa.
S. H. BURNHAM, President First National Bank, Lincoln, Nebraska.
F. ELMORE, Bank of Winchester, Kansas.
J. D. GERLACH, Cashier First National Bank. Chester, IllinoisL. P. HILLYER, Cashier American National Bank, Macon, Ga.
G. R. MOORE, President First National Bank, Jackson, Minn.
WM. WARNOCK, Banker, Almyr, Ontario, Canada.

INSURES the safe delivery of money and securities shipped by registered mail. Absolute security at actual cost.
Better, safer, cheaper than by express.
Organized and conducted by bankers. Confines its business to banks. CorCespondenoe solicited.

---------- T H E ----------

Preferred Accident
Insurance Company

JD A Y S Claims More Promptly, Issues More At­
tractive Health and Accident Policies at a Lower
Premium than any other Accident Insurance Com­
pany in the World.

Over $$,$00,000 Paid to Policy-holders for glaims
Assets, $1 , 230 , 37 4 .40 .

« « « Surplus and Reserve, $1 ,105 , 5 4 2 .35

USURES PREFERRED RISKS OALY

O F

N E W

Y O R K

K IM B A L L C. ATWOOD,


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

Liberal Commissions and Renewal Contracts to Bankers
Write for our Special Proposition

Secretary

Upham Bros.Co.,Mgrs. for Iowa, eitiZDESsBM©1ÎNEsldinfl

Tfie Nortbvestern 5 ^ní<ier.
TENTH

Y ear

A Hankers Journal fo r the Northwest.

DES M O IN ES, IO W A , DECEM BER, 1905

THE NORTHWESTERN BANKER,
P U B L IS H E D B Y

Tl)e Northwestern ganger Pab. Co.,
DKS MOINES, IOW A.

A monthly Bankers Journal, devoted to the interests of bankers in
the Northwest.
Communications and news items of local interest to bankers in
this territory are requested.
Entered at Des Moines, Iowa, as second class matter.
Subscription $2.00 per annum; single copies, 20 cents.
Advertising rates on application.

NUMBER

20 cts.

12.

p e r c o py

of a scheme to further the interests o f private banks.
The N orthwestern B anker believes that all banks
should be under state or national supervision. The
transformation is going on now with reasonable ra­
pidity and will gain force as it progresses.

In the

mean time John L. Hamilton is likely to give a suc­
cessful administration even as a private banker and
we predict that at the close of his term of office he
will be the recipient off the usual size punch bowl
from the admiring members of the American Bank­
ers Association.

Attention is called to the recent decision of Judge
Gaynor in the case o f the failed Sheldon Bank of
Sheldon, Iowa. The decision is of great importance
to the city banks in that it holds that the regular de­
positors are preferred creditors o f the bank and must
be paid in full before other claims may be consid­
ered. The claims o f banks which hold certificates as
collateral security are thus shut out until other claims
are met in full. This decision i f allowed to stand
will materially affect the loaning o f money to hanks
on such security.
Considerable has been said relative to the election
o f John L. Hamilton, a private banker, to the presi­
dency o f the American Bankers Association. As a
matter o f fact Mr. Hamilton as a private banker
had nothing to do with his election as president of
the A. B. A. H e was elected because he had taken
a very active part in the work o f the association and
has worked up from the ranks. He had the most
friends and they did' not stop to enquire whether he
was a private banker or not. There are several pri­
vate hankers who are members o f the A. B. A. and
there is nothing in the constitution preventing the
election o f the representative o f such a bank to office
in the association. N or is the work o f the associa­
tion likely to suffer because o f the administration of
a private banker. Mr. Hamilton is noted for deep
laid plans but no fear is felt that his election is part

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

The American Bankers’ Association money order
system is slowdy but surely becoming popular and
will soon be found in all the best banks of the
country. Every member o f the American Bankers’
Association ought to install at once these money or­
ders and help in educating the public in their use. It
is a duty which every member owes to the associa­
tion and it will be found effective in diverting much
o f the public’s money and express order busi­
ness to the banks, where it rightfully belongs. It
took years of patient, painstaking work on the part
o f the association’s committees to evolve a plan that
should have all the advantages of the express and
post office money orders, and now that it has been
accomplished and it only remains for a co-operation
o f the banks to regain the teritory lost to the express
companies and the government, it ought not to be
necessary to urge the banks to stand together and
work together for the common good. It is a very
weak position for any bank, however large, to take
to say that “ our paper does not need to be guaran­
teed.” That statement is true of most of the banks,
but “ the public” must not run a single chance of
loss i f the money orders are to be popular. I f pri­
vate parties can put a bank money order on the mar­
ket and make money for themselves out of it how
much better and more profitable can the A. B. A.
money orders be made by the hearty co-operation of
all whose interests are served.

6
T H E N O RTH W ESTERN B A N K E R . 4 / t
December, igo<¡.
/ iL
____________________________
. . —---------------* h--- *------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------— y---/

Fort
D earborn
National
BanK
C hicago
IN C R E A S IN G

N A T IO N A L

C a p i t a l ............................................ $ 1 ,0 0 0 ,0 0 0 .0 0
S u rp lu s and Undivided P ro fits
2 3 0 ,5 2 4 .8 8
D e p o s its
9 ,4 1 2 ,2 5 5 .7 8
Accounts of Banks, Corporations, Mercantile
Firms, and Individuals Respectfully Solicited
OFFICERS
L. A. GODDARD
CHAS. L. FARRELL
NELSON N. LAMPERT
HENRY R. KENT -

-

-

President
Vice-President
Vice-President
Cashier

We Have Every F a c ility fo r H a n d lin g C o u n try B a n k
A c c o u n ts , A p p re c ia te th e m , and G ive O u r P ers o n a l
a tte n tio n to th e In te re s ts o f O u r D e p o s ito rs .

W EALTH

A wonderful story o f rapidly increasing national
wealth is told by the statistics o f the department of
commerce and labor. H a lf a century ago the wealth
o f the United States was estimated at a little more
than $7,000,000,000. A t the present time it is
placed at $110,000,000,000. During this half cen­
tury the population o f the country multiplied by less
than three and one-half while the wealth multiplied
by a little more than thirteen. During this period
one person’s share in the total wealth was multiplied
by four.
The census o f fifty years ago showed that the Uni­
ted States in point o f wealth stood below half a dozen
nations o f the old world. Today all those nations
have been entirely outdistanced.
O. Af. Harvey
gives some startling figures in a recent magazine ar­
ticle. Although the United States comprised only
5 per cent o f the world’s population, it produced, ac­
cording to the latest census 22 per cent o f the world’ s
wheat, 30 per cent o f its gold, 32 per cent of its coal,
33 per cent o f its silver, 34 per cent o f its manu­
factures, 35 per cent o f its iron, 36 per cent of its
cattle, 50 per cent o f its petroleum, 54 per cent of
its copper, 75 per cent o f its cotton, and 84 per cent
o f its corn.
Though the United States has only a twentieth of
the world’s inhabitants it has a fifth o f the world’ s
stock o f money and a fourth o f its gold coin and
bullion. The United States has two-thirds— $14,000, 000, 000— o f the world’s banking power— cap­
ital, surplus, deposits and circulation.
Between
1890 and 1904 the banking strength o f the world
grew 105 per cent and that o f Hew Y ork City 190
per cent.
The farmers and planters o f the country, accord­
ing to the same authority, received last year more
than $6,000,000,000 for their products. This equals
the wealth o f the entire country in 1845. The pro­
duct o f the country’ s mines for 1904 amounted to

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

^

$1,500,000,000. The United States has a third
of all the money deposited in the savings banks of
the world. At the beginning o f 1905 there were
in the United States 212,000 miles o f railroad, as
compared with 300,000 for the entire world outside.
The railroads earned $200,000,000 in 1904 and
have in their employ 1,300,000.
TH E

N O R T H W E S T E R N N A T IO N A L LIFE
IN S U R A N C E CO M P AN Y

Much has been said in the daily papers recently
in regard to the Northwestern National L ife Insur­
ance Company of Minneapolis and recent indict­
ments against former officials and certain suits
brought against the company. It has not always been
made clear that the indictments referred to have no
<«. nnection with the present officers or the present
management. The foreman o f the grand jury vol­
untarily wrote a letter in which he says :
“ In our report we endeavored to bring out clearly
the fact that these old officers are no longer connect­
ed with the company and that the company is not in
any wise affected by our action.”
The grand jury specifically assure the public that
the investigation has proved that the present com­
pany is on a sound basis, and that the present of­
ficers and directors are capable and honorable men
who have saved the company and put it on its feet.
The presidents or chief executive officers o f the
five leading banks o f Minneapolis were elected as
directors of the company, as follows : F. A. Cham­
berlain, president the Security Bank o f Minnesota;
C. J. Jaffray, vice-president First NTational Bank;
S. A. Harris, president National Bank o f Commerce/
E. W . Decker, vice-president Northwestern National
Bank; N. O. Werner, president Swedish-American
National Bank.
These gentlemen, foremost in financial affairs in
the northwest, accepted the task as a civic duty, with­
out any compensation whatever, and are giving freely

THE

Dedember, 1905.

NORTH W ESTERN

BANKER.

7

THE NATIONAL BANK

O )

. 1
J.. . Í
------" ■'■""■V

1

Q )
D9

,

.

JOHN A . LY N C H
P R E S ID E N T

a portion o f their time and attention to the business
o f the company.
Leonard K. Thompson has been secured as vicepresident and general manager, thus bringing to the
company a thoroughly trained and successful life
insurance man o f many years’ experience, and one
familiar with all the technicalities and details of the
life insurance business.
There is no question whatever o f the solvency of
the company and its ability to carry out fully its
contracts. Indeed, under the present management
it promises to become one of the large and successful
companies o f the west.

NO L IM IT A T IO N TO L IA B IL IT Y

That a state statute o f limitation cannot be used
to protect a stockholder o f a failed national bank
against liability on his stock, was on NWemebr 13
decided by the supreme court o f the United States
in an opinion delivered by Justice McKenna in the
case o f George C. Rankin, receiver o f the Hutchin­
son Rational Bank o f Hutchinson, Kan. vs. Edward
E. Barton, a stockholder in the bank.
In this instance an effort was made to enforce the
individual liability requirement o f the national hank­
ing laws in 1900, seven years after the suspension of
the bank. Barton took the case into the Kansas
courts, pleading the statute of limitations which pro­
tects a debtor after three years. The state supreme
court sustained the plea, but that decision was re­
versed by this decision.
In the course o f his opinion Justice McKenna
said:
W e think the Kansas supreme court overlooked the
official character and power o f the comptroller of
the currency and the decisions o f this court declar­
ing them. A national bank is an instrumentality
o f the United States, its circulating notes are guar­
anteed by the United States and if the United States
should be compelled to pay them the United States

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

has a paramount lien on the assets of the bank for
reimbursement. The administration of the bank’ s
assets is therefore vested in the comptroller as an
officer o f the United States. He appoints the re­
ceiver and directs his acts. The individual liability
of a stockholder can only be enforced by his or­
der. * * *
As the power of the comptroller is derived from
a statute of the United States it cannot be controlled
or limited by state statutes.

SUCCESS A SSU R E D

On the second day o f January, 190G, the Van Met­
er State Bank, incorporated with a paid up capital
of $25,000 will succeed to the business of the Van
Meter Bank of Van Meter, Iowa.
The officers of this new bank will be; G. H.
Messenger, president; J. E. Goar, vice-president,
and Clarence Dunn, cashier.
The first bank to open for business in the town of
Van Meter was a private institution, established
and operated by Goar brothers. These gentlemen
sold their banking business to G. IT. Messenger and
associates. For a little over four years Mr. Messen­
ger has been at the head of the banking business.
Associated with Mr. Messenger has been Clarence
Dunn.
The interests of the community demanded a bank
of larger capital and an incorporated institution.
Mr. Messenger bought the interests of his co-partners
in the private institution is incorporating as the Van
Meter State Bank.
Mr. Messenger is a very successful young banker
of large acquaintance through central Iowa, where
he is at the head o f five prosperous banks with com­
bined assets of more than one million dollars.
J.
E. Goar is cashier of Warfield-Pratt-Howell &
Co., a firm with $1,500,000 capital.
Clarence Dunn, the cashier of the private bank,
will take the cashiership of the new hank. Mr. Dunn

THE

8

N O RTH W ESTERN

BAN KER.

December, 1905.

The SEABOARD
N A T IO N A L B A N K
O F T H E C IT Y O F N E W Y O R K

Capital, $1,000,000.

Surplus (earned), $1,000,000,000

A C C O U N T S S O L IC IT E D .
S. G. BAYNE, President.
S. G. NELSON, Vice-President.
C. C. THOMPSON, Cashier.
W. K. CLEVERLEY, Assistant Cashier.
J. H. DAVIS, Assistant Cashier.

enjoys the respect and confidence o f the entire com­
munity.
Prominent among the shareholders o f the new
hank is Arthur Reynolds, president o f the Des
Moines National Bank.
Eor the full protection- o f its patrons as well as
itself against robbery the bank will carry an ample
insurance policy in a strong indemnity insurance
company.
The bank will also become members o f the Iowa
Bankers Association. This organization o f the lead­
ing banks o f Iowa keeps all members o f the associa­
tion promptly advised o f any trouble or loss that
may come to any one o f its members ; thus if a bank
robbery is committed in any part o f the state, or if
a gang o f forgers, crooks or confidence men of any
kind are operating at against the banks or
bankers o f
any community
in ¡this state,
all members are at once notified thus guarding
them against similar trouble. In addition to keep­
ing all members promptly advised in regard to any­
thing and everything o f importance affecting the
banking interests o f the state, the association is tire­
less and never ceases in the work o f locating, captur­
ing and convicting all persons who commit a crime
of any kind against any member o f the association.
The bank will also become a member o f the Amer­
ican Bankers Association. The work o f this associa­
tion is similar to the work o f the Iowa State Associa­
tion, including among its members all o f the leading
banks o f the United States and affording a great pro­
tection from all kinds o f bank swindles.
It is hardly necessary to add that the new bank
will start out as a patron o f the Northwestern Banker
TH E IO W A B A N K E R S ’ ASSOCIATION

B U SY

Secretary Dinwiddie reports “ A forged check was
passed on a merchant at Walnut, Iowa, drawn on
Citizens Savings Bank, Avoca, endorsed John Bouer.
The man is about 5 feet 7 inches tall, weighs about
170 pounds, is about 30 years old, has light hair
blue eyes, rather large mouth, square shoulders and
is heavy set, speaks with a slight German accent, and

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

bears a tatoo mark on the back o f left hand, the mark
being a star enclosed in a circle .
On November 3 one E. H. Linn, claiming to be a
0., M. & St. P. operator at Browns, Iowa, purchased
goods at Preston, giving checks to amount o f $40 on
a Cedar Rapids bank in settlement. He returned to
Browns and later in the day “ went west.” He and
“ his brother” are both young men and operators,
l ie is about 20 years old, weighs about 125 pounds,
is 5 feet 4 inches tall, has thin face, light sallow com­
plexion and smokes cigarettes.
W e want these men. W ire us i f you locate them.
Do not forget that there is a standing reward o f
$ 1,000 for the arrest and conviction o f any person
or persons who may burglarize the bank o f any mem­
ber of our association. Make this known to your
county and city sheriffs, deputy sand marshals.
The next convention o f this association will be
held in Cedar Rapids in June 1906, o f course you
will attend.”

STOCKHOLDERS M A Y E X A M IN E

When a bank fails for any reason and the money
left is not sufficient to pay the claims against it, the
stockholders are compelled to make the losses good.
The stockholders, therefore, have a very personal in­
terest in the management o f the business, not only
to see that good men are elected to positions in the
bank, but to know that those officials are doing what
is best for the interests o f the bank. The supreme
court o f the United States has just made an im­
portant ruling to the effect that a stockholder in a
national bank has a right to make an examination
of the business o f that bank. Possibly in some cases
such privilege had been refused on the theory that
T would make it possible for a man’s competitor in
business, or a representative o f another bank, to
get information that he had no right to know, but it
cannot be denied that it will be the means of insuring
greater safety in banks. It will make every stock­
holder in a bank feel a deeper responsibility in re­
gard to its management. Everything will not be
left to the directors.— Exchange.

December, 1905.

THE

L E W IS E. P IERSON, President.
JAM ES E . NICH OLS, Vice-Pres.

N O RTH W ESTERN

J r L

9

R O L L IN P. GR A N T, Cashier.
D A V ID H. G. P E N N Y , A ss’t Cashier.
C A P IT A L ,, $ 1 ,0 0 0 ,0 0 0
S U R P L U S , $ 7 5 0 ,0 0 0

C a r e fu l S e r v ic e .
U n iq u e F a c ilitie s .
P r o m p t A tte n tio n .

R / |
ft.

BANKER.

*
Special Department for Collecting Bill-of-Lading Drafts
and Other Collections.
Domestic and Foreign Letters of Credit.
Foreign Exchange Bought and Sold.

W e In vite A c c o u n ts o f Banks, B a n ke rs and M e rc h a n ts
S IO U X C IT Y B A N K

CHANGE

George C. Call and A. T. Bennett will retire soon
as officers o f the First National Bank and Farmers
Loan and Trust Company of Soo City, with which
institutions they became identified upon the merging
o f the City National Bank into the First National
Bank after the fire last winter.
Mr. Bennett will organize a trust company which
will be located in the proposed Bennett building on
Nebraska street.
In regard to the change Mr. Call says: “ It has
been understood since last September that I was to
resign my position both in the First National Bank
and the trust company. I have no particular plans
for the future but will continue to invest in Sioux
City.”
Mr. Bennett said: “ Some weeks ago I resigned
as vice-president o f the First National Bank, but the
same has not been acted upon by the directors, Mr.
Toy desiring that I continue with the bank until he
can obtain a successor. I expect soon to resign as
secretary o f the Farmers Loan and Trust Company.
Following the fire last winter arrangement was made
to consolidate the business o f the City National Bank
with the First National. The large increase of de­
posits and general business aside from the City N a­
tional business that have come to the First National
since my connection with it has been very gratifying
to the officers of the bank and I join them in extend­
ing a hearty appreciation.”
A SP LE N D ID

RE COED I N L IQ U ID A T IN G A B A N K

The liquidation o f the National Bank o f North
America, Chicago, has been completed by the decla­
ration o f a final divident o f 21 cents per share. In ­
cluding this dividend the stockholders will have re­
ceived $145.21 per share which had a book value of
$135.55 per share, and a market value of $140.00
per share at the time o f the sale o f the bank October
26, 1904. The total expenses o f liquidation amount­
ed to $32,583.51, or about one-fifth o f one per cent
upon the total assets o f the bank, which ,on the day

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

of the sale o f the business amounted to $15,188,039,12 or about nine-tenths of 1 per cent. The report of
the comptroller o f the currency for the year 1904
shows that the cost of liquidation o f insolvent nation­
al banks, namely, receiver’s salary, legal and other
expenses, whereas the total amount collected has
averaged
8.43
per
cent of
the total ex­
pense of liquidating.
The National Bank of
North America, Chicago, as stated above, amounts
to about one-fifth of one per cent of the entire as­
sets at the date of sale. The large amount realized
for stockholders and the small expense o f liquidation
have been due in a large measure to the efforts of
Charles O. Austin, who had the matter in charge.
IO W A R A IL R O A D S PROSPEROUS

Iowa railroads are enjoying prosperity o f the
same brand that is making the farmers o f this state
happy. Their net earnings as well as their gross
earnings for the fiscal year ending June 30, 1905,
were larger in almost all cases than for the year of
1904, and in some instances they wrere much larger.
The Chicago, Milwaukee and St. Paul showed the
largest increase, its net earnings having grown ap­
proximately $542,000 in the year. The Rock Island
had more than $200,000 increase; the Burlington
nearly $200,000. The Illinois Central made
the best showing in percentage o f increase, its
net earnings for its Iowa lines for the year 1904
being only $189,363 as against $612,093 for the
year of 1905. The Northwestern lines in Iowa are
the only ones to show a loss in net earnings, the fall­
ing off being about $150,000.
It is an interesting fact that in most instances the
increased net earnings upon the Iowa lines of these
railway systems were due chiefly to economies in
operating expenses although nearly all the railways
enjoyed larger incomes also. In the case o f the
Rock Island the gross earnings were about $100,000
less in 1905 than 1904, but at the same time the
operating expenses were about $320,000 less, giving
it largely increased net earnings.

THE

IO

N O RTH W ESTERN

BAN KER.

December, 1905.

THe Citizens Central National BanK
Capital, $2,550,000.00

N E W

Y O R K

Deposits, $24,002,328.07

Broadway and Pearl St.

E D W I N S . S C H E N C R , P r e s id e n t
E W A L D FLEI TM AN N ,
V i c e P r e s id e n t

A L B IO N

ft. C H A P M A N .
A s s is t a n t C a s h i e r
LEO . H. M cC A L L .
A s s is t a n t C a s h i e r

H E N R Y D I M S E , C a s H ie r
DIREGT0RS: James Stillman, Ralph L. Cutter, Jacques Huber, Daniel A. Davis, John A. McCall, Maroeil Kahle, Henry B.
Stokes, Ewald Fleitmann, Robt. B. Hirsch, Augustus F. Libby, Edwin S. Schenok, Woodbury Langdon, Francis M. Bacon, Jr., Emil
Seyd, Jr., Henry Sampson, L. F. Dommerich, Frederick Southack, Edward A. Walton, Darwin P. Kingsley.

BOND M UST BE R E N E W E D

Congressman Hubbard’s plea before the supreme
court in the Ida County Savings Bank case failed to
have any effect on the justices, for they have over­
ruled his application for a rehearing. This finally
disposes o f the case which has been before the su­
preme court for nearly seven years, during which
time the court first affirmed and then reversed the
decision o f the lower court. It also settles the point
that a bank officer’ s bond continues only for the term
for which he was elected when the bond was given.
When the cashier o f the Ida County Savings Bank
defaulted to the amount o f $ 8,000 the bank sought
to recover o f his bondsmen. It then developed that
the cashier was first elected for a term of
one year and re-elected annually thereafter, hut the
bond was never renewed after the first year, it being
presumed to continue good without further action
as long as the cashier remained in office. This had
been the general custom in banks throughout the
state, but since the Ida county decision hank direc­
tors have insisted on annual renewal o f thè bonds of
their officers.

almost anything approaching suitable weight, so that
the margin between feeders and packing stuff is not
very great.
TH E M E N B E H IN D TH E GUNS

In the adding machine contest held recently at
Madison Square Garden, New York, the clerks of
the National Bank o f Commerce of that city took
prizes for speed. Each o f the twenty-five contest­
ants were required to list 500 checks o f different
amounts. H. A. Bradley took first prize, finishing
in 9 minutes and 9 seconds. W. Bertholf took sec­
ond prize in 9 minutes and 40 seconds, both using
the “ Burroughs” machine.
H. Kopp took third
prize in 10 minutes and 35 seconds. The principal
banks o f the country were represented in the con­
test and much interest was aroused. The National
Bank o f Commerce may well feel proud o f the record
made by its clerks. Taking all three of the prizes
speaks well for the general speed and efficiency of
its force.
' *&..l :

C O UNTRY B A N K A D V E R T IS IN G
FE E D IN G L IG H T E R T H A N

EXPECTED

Bankers in central Iowa claim there is less de­
mand for money from farmers engaged in feeding
stock than for many years past, in spite o f the 'fact
that the corn crop is unusually large. The situation
is somewhat puzzling to the money interests who had
anticipated a large demand in order that the corn
crop might he fed at home. A prominent stockman
in discussing the situation said that the high price
o f stockers and feeders is largely responsible for the
small amount o f feeding being done. W ith the
prospect that corn will not be less than 40 cents a
bushel and the price o f feeders kept so near that paid
for packers there is little incentive for the farmer
to take the risk. A stockman said the western pack­
ers were largely responsible for the conditions exist­
ing due to the fact that they are taking for killing

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

Among the bank announcements sent ns during
the past month we quote from that of the new Citi­
zens National Bank o f Hampton.
“ Having a capital of $100,000 and being organ­
ized under the National Banking Laws o f the U ni­
ted States, it offers responsibility as well as courtesy
in the prompt and careful handling o f all business
entrusted to its care. Our customers are promised
liberal treatment, personal attention and our best
efforts to make our business relations satisfactory.
“ Checking accounts are especially desired, we be­
lieve in every one having a checking account at some
good bank. O f necessity a great many such ac­
counts must be small. To all such we give a hearty
welcome. It is not the size o f your account that we
look at but the fact that yon keep an account at this;
bank. People o f moderate means and young peoplewith small amounts o f money are cordially invited

December, 1905

FRANCIS B. REEVES,
P r e s id e n t

THE

NORTHW ESTERN

BANKER.

U

RICHARD L. AUSTIN, V ic e P r e s id e n t
THEO. E. WIEDERSHEIM, 2n d V ic e P r e s id e n t

JOSEPH WAYNE, JR.,
Ca s h i e r

T h e Girard National BanK
P H i l a d e l p H i a ,
C A P IT A L , $2,000,000

SU RPLU S

and

P a .

PROFITS, $2,920,673

DEPOSITS, $29,236,863.72

ACCOUNTS OF BANKS AND BANKERS SOLICITED

to open an account with us and they will he given
careful attention.”
HELPS THE STAMP BOX

Cashier A. L. Tracy o f the State Savings Bank,
Goodell, writes:
“ I desire to put the good brothers in touch with
a little scheme that I have tried, and successfully,
and ask that you call their attention to the enclosed
through the columns of your good paper in the next
issue. I have sent these out, where we have got
“ no protest” items, and in each case they have come
back, wdth the stamps, and it is a good thing for our
stamp box and a great saving.”
“ The undersigned banks have agreed to register
and present no draft for collection which is not ac­
companied by twenty-five cents in stamps or cash to
cover the cost o f same. State Savings Bank, by A.
L. Tracy, Cashier; Farmers Bank, E. J. Bauman,
Cashier.”
In regard to local banking conditions Mr. Tracy
says: “ We are enjoying a fine business here now,
crops are moving lively and we are taking care of the
same, easy, and furnishing all our customers with
what money they need, and the demand at present,
is good, at the same time, collections are first class
and we are realizing on our paper every day. De­
posits are on the climb and we are taking on a lot
o f new business which is very profitable.”
P R O M IN E N T D A V E N P O R T B A N K R E F U R N IS H E S

The refurnished Iowa National Bank of Daven­
port has been thrown open to its patrons in all the
glory o f its new mahogany, bronze and marble fix­
tures. The business has been conducted in tempor­
ary quarters at the rear o f the building for some
months. The lobby has been made a. great deal
larger and the teller’s windows will face the front
entrance instead o f being on the sides. The fixtures
are o f rich mahogany with a base o f white and
green marble and bronze grills surmounting the mar­

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

ble bases. A new entrance is to he added and when
complete the hank will be one o f the finest in appear­
ance in that city o f good banks and splendid bank
equipments. President Doe and Cashier Burmeister
are giving excellent imitations o f “ smiles that wont
come off.”
H E LOST TH E IN TE R E ST

The advertisement o f an Iowa hank relating to a
recent deposit in that institution of $2,700 which
had been buried for years, has attracted unusual
attention. The incident related is one that can he
vouched for as an actual occurrence, an also
one which shows in a striking manner the folly
of allowing money, with its great earning capacity,
to remain idle so long. In this case the interest
alone would have amounted to $4,890. The money
was in currency and so badly moulded that it was
with great difficulty it could he counted. It was
sent at once for redemption to the TJ. S. treasury at
Washington, D. C.
TH E M IN N E S O T A S A V IN G S B A N K L A W

A savings bank in Minnesota, like those o f the
East, is intended to he conducted in the interests of
the depositors and all profits to go to them. Such
a bank is organized without stock and consent must
be obtained from the public bank examiner, the at­
torney-general and the state treasurer who are not
supposed to give their consent unless there is genuine
need for such an institution.
LA RGEST P E R C A P ITA DEPOSITS IN

IO W A

Cashier H. W. Bruhn o f the Eldridge Savings
Bank, writes: “ We paid our fifth dividend o f 6
per cent on November 1 on $25,000 capital. Our
deposits are now over $310,000 and we can boast of
having a larger per capita deposit than any other
bank in Iowa, $1,620 for each inhabitant of Eldridge
H ow’s that ?” Can any banker see Brother Bruhn’ s
raise and go him one better?

THE

12

PROFITS

IN

N O RTH W ESTERN

December, 1905.

BANKER.

INDIVIDUAL

ACCOUNTS

are frequently curtailed by lack of proper or systematic accounting methods.
Eliminates work without sacrificing features of good bookkeeping.
Affords an independent check in all quarters where such verifications are necessary or important.
Disposes of the old method of -journalizing checks and deposits.
Discontinues the necessity of balancing pass books.
Audi t s each day each and every account affected by the transactions for the day.

_
J- *

B
•
^

_

_

—
”

*

___
§ 10IT 1

Audits each month each and every account on the books.
Our Accounting Systems are approved by bank officials because they are correct systems.
Pamphlet “ B” upon request.

BAKBR =VAW TER
350 Broadway, New York

AN

BANKs y s t e m

OLD S W IN D L E

A very clever and bold forgery has been perpetrat­
ed at Dubuque and the forger got away wdth $4,000
cash.
The money was obtained on a forged deed to a
farm. A short time ago a stranger giving his name
as John B. Hpover and his residence as Marion,
Linn county, called on Mr. Abeln and made inquiry
relative to the purchase o f a farm and one was found
which he agreed to purchase.
Hoover informed Abeln that he would need about
$4,000 in addition to what he had to pay the pur­
chase price o f the farm and Mr. Abeln agreed to
arrange a loan for that amount, taking a mortgage
on the property. One day later Hoover called at
Abeln’s office and stated he wanted to close the deal
and that as the seller was not in the city he would
take the deed and pay them the money and secure
their signatures to the papers. Mr. Abeln had the
necessary deed already drawn and gave it to Hoover
who started for the country. H e called at Abeln’ s
office the following morning and presented to Mr.
Abeln the deed signed by the sellers o f the farm and
asknowledged before a notary public. Mr. Abeln
then had Hoover execute a mortgage on the property
for $4,000 and together they called at the county re­
corder’s office and filed both the Oonlin deed and the
Hoover mortgage. Hoover then received the $4,000
in cash and that was the last seen o f him by any of
the parties concerned.
The commercial agencies
made the usual report and this report was the means
o f the forgery being discovered..
About ten days before or about the same time that
Hoover “ located”
the farm J. W.
Beatty,
the
notary,
recollects
having
acknowledged
a power o f
attorney for
Hoover, signing
the same and affixing his notarial seal. It is
believed that Hoover had a duplicate seal made from
this paper and thus had Beatty’ s signature for
the purpose o f forging it to the deed, which bore an
excellent forgery o f Mr. Beatty’s signature and also
his seal. Hoover, which is o f course a fictitious

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

COMPANY,

d e v is e r s

Tribune Bldg., Chicago

name, is described as a fine appearing nam of about
45 years of age, weighing about 225 pounds, well
dressed, smooth face with prominent gold filled teeth.
THE IO W A BO N D IN G L A W

SCORED

Judge Clements of Montezuma recently announc­
ed that a nefarious robbery was being permitted in
the state of Iowa in that the law makes it mandatory
on the county clerk to accept the bonds o f foreign
corporations without question, whereas it is discre­
tionary when it comes to accepting the bonds o f cit­
izens of the state, notwithstanding those citizens may
be worth thousands of dollars. “ In my judgment,”
said-the court, “ it is most reprehensible legislation
in favor of corporations.” Thousands of dollars
go out of the state in worthless bonds. I would al­
low no fee for bringing in such bonds as that, Why
should foreign corporations be given a preference
to the great and everlasting detriment o f an Iowa
resident who may be worth acres of money ? I say
it is nefarious robbery.”
NOT A FIREPROOF SAFE

Alarmed by recent burglaries Mrs. L. Bell of Ft.
Dodge, placed her surplus money consisting o f bills
and coins in a stove for safe keeping.
Another
member o f the family, knowing nothing o f the de­
posit, built a fire in the stove. Mrs. Bell found
that money charred to cinders. The ashes of the
currency were carefully gathered and a beneficent
government gave Mrs. Bell some new bills for the re­
mains.
GOVERNOR C U M M IN S W I L L A D D R E SS TH E
BANKERS

Governor Cummins has accepted an invitation to
deliver an address before the bankers o f Chicago on
December 9. This will be one o f the most important
and interesting events in the history of the Chicago
Bankers’ Club.

December, 190 5 .

THE

._

*

<

.

'

NORTHWESTERN

.. _ _

_

...

'

..

BANKER.

*

ESTABLISHED 1853.

Cb( Oriental Bank

á l t a s e

n a t i o n a l

B a n k ,

OF T H E C IT Y O F N E W Y O R K .

OF N EW YO RK
175 Broadway

$750,000.00
Capital,
- $1,130,300.57
Surplus and profits,
D eposits M ay 9, 1003,
D eposits M ay 9, 1904,
D eposits N ov. 9, 1905,

:
:

$ 5,8 09 ,3 1 4 .6 8
8 ,0 01 ,8 2 3 .1 7
11,080,949.46

R. W. JONES, Jr, Pres. NELSON G. AYRES, 1st Vice-Pres.
LUDWIG NISSEN, )
ERSKINE HEWITT, [ Vice-Presidents.
CHARLES J. DAY, )
GEO. W. ADAMS, Cashier.
R. B. ESTERBROOK, Asst. Cash
DIRECTORS.
Nelson G. Ayres, Vice-President.
Charles K. Beekman, Philbin, Beekman & Menken, Attorneys.
Samuel Bettle, Chairman Advisory Freight Committee, In­
ternational Mercantile Marine Steamship Co.
Eugene Britton, Vice-Pres. Nat’l City Bank, Brooklyn; Treas.
Broadway Savings Institution, N. Y.
Stephen R. Halsey, Capitalist.
Erskine Hewitt, Manufacturer, with Cooper, Hewitt & Co.
R. W. Jones, Jr., President.
Hugh Kelly, Merchant, 71 Wall Street.
Richard B. Kelly, Vice-Pres. Fifth National Bank.
Chas. E. Levy, Cotton Merchant, 30 Broad Street, of M. Levy
&Sons, New Orleans, La.
Alexander McDonald, Capitalist.
Wm. McCarroll, Vice-Pres. American Leather Co.
Ludwig Nissen, Importer of Diamonds.
Andrew W. Preston, Pres. United Fruit Co., Boston and N. Y.
John C. Whitney, Auditor New York Life Ins. Co.
Isadore Hermsheim, Capitalist.
William B. Putney, Attorney-at-Law.

Your Account is Respectfully Solicited.
♦

B A N K P R E SID E N T S W IN D L E D

A new swindle has just been skillfully worked
upon a prominent attorney and bank president of
Clarinda, Iowa, by which he lost $200 and his fee.
A farmer looking fellow called upon the banker
and told him this story: “ M y name is Williams.
Last October a neighbor bought some steers, and as
he was bringing them home he turned them into my
lot for the night. One o f the steers gored one of
my best horses, for which I would not take $300,
and the horse died. M y neighbor refuses to settle,
and I want to bring suit.
The banker-lawyer took the case, but said that he
would write and give the neighbor an opportunity
to settle out o f court. The attorney wrote the letter
and mailed it.
The swindler intercepted the letter to banks, wrote
a reply and enclosed a forged check for $200 signed
by the neighbor on a local bank and mailed it to
Clarinda to the banker-lawyer. A t first he refused
to accept the $200, saying it would have $300 or
push the suit, hut finally yielded, accepted the check
and directed the attorney to take out his fee and
give him the balance, which was done. When the
check reached the bank on which it was drawn the
forgery was at once detected, but the swindler was
out o f reach.

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

U N IT E D S T A T E S D E P O S IT A R Y ,

C L E A R IN G H O USE B U IL D IN G .
A. B. H e p b u r n , Pres.
E. J. S t a l k e r , Cashier.
S. H. M i l l e r , Asst. Cashier.

A. H . W i g g i n , Vice-Pres.
C. C. S l a d e , Asst. Cashier.
H. K. T w i t c h e l l , Asst. Cashier.

Novem ber 9,

1905

CAPITAL,,
- $ 1,000,000.00
SURPLUS AIND PROPITS, (earned) 4,961,178.00
DEPOSITS,
.
.
.
59,632,660.00
T H IS B A N K R E C E IV E S ACCOUNTS OF

Banks, Bankers, Corporations, Firms and Individuals on favorable
terms and will he pleased to meet or correspond with those who con­
template making changes or opening new accounts.

A W E L L W O R D E D C A L E N D A R LETTER

A good form letter to be sent out with the banks’
calendars is.from the pen of J. H. Van Scoy, cash­
ier of the First National Bank of Rippey. It is as
follow s:
“ We are today sending yon under separate cover
one of our calendars for 1906. This calendar is
sent you with our best wishes for every day o f the
year and with the hope that on the walls of your
home or office it will be a constant reminder of the
First National Bank of Ripey.
“ The famous saying of President Roosevelt, “ A
square deal for every man,” fittingly represents the
policy of this bank, and the underlying principles of
all our dealings.”
NEW

B A N K FOR M IN N E A P O L IS

The Union State Bank has been started in M in­
neapolis. Lnth Jaeger is to be cashier. Among the
incorporators is Alex E. Johnson o f Hew York, who
is general manager of the Scandanavian-American
line of ocean steamers, as well as a large stockholder
and president of the A. E. Johnson company of
Minneapolis. IJe has large interests in other banks
and financial institutions and is understood to be
worth millions. Lnth Jaeger, the cashier, for the
past two years has been conducting a hank at Hunter,
H. D. The bank is organized with $50,000 capital.

THE

14

WM. H. BRINTNALL,
President.

N O RTH W ESTERN

BAN KER.

December, 1905.

THE DROVERS DEPOSIT NATIONAL BANK,
UNION STOCK YARDS, CHICAGO.

EDWARD TILDEN,
Vice-President.

C A P ITA L AND
Cashier.

GEO. M. BENEDICT,
Ass’t Cashier.

To Banks and Bankers H a v in g M ore or L ess L iv e S tock B u siness, this
Bank Offers E xcep tion a l A dva n tages, and S olicits C orrespondence as to Term s
and F acilities. A lso acts as R eserve A g e n t for N ational Banks.

G REAT G R OW TH OF IO W A DEPOSITS

The state and savings bank statement for the N o­
vember 9 call shows an increase in deposits o f more
than $3,000,000 since the August statement. They
now amount to more than $154,000,000 in the state
and savings banks alone. In the national and pri­
vate banks there is as much more money.
Loans show an increase o f about $6,800,000. This
is accountable on the basis o f the money borrowed
for stock feeding and kindred purposes, pending the
time to market. The average reserve in the state
and savings banks has fallen off about half as much
as the loans have increased, and now is about 20 per
cent.
There has been an increase o f more than $ 22,000,000 in the deposits in the state and savings
banks o f Iowa since November 10, 1904. There has
been an increase in the number o f these institutions
o f eight during the last quarter. But two of the
state banks have become national banks in the mean­
time, and one loan and trust company which re­
ported formerly is not in this report. There was an
increase o f but $61,000 in capital stock, as compared
with the last report, but this was due to the fact that
the banks which were added were o f small capital
and the two that were nationalized had $50,000 each
and the loan and trust company not now included
had $ 100, 000.
The following is the showing o f the 458 savings
and 251 state banks November 9, as compared with
the last statement made August 25:
ASSETS.

Bills receivable, in crea se....................... $6,808,791.35
Gold coin, increase . ...............................
15,787.88
Silver coin, increase
................;..,
91,071.45
Legal tender, national bank notes, inc.
223,370.13
Credits subject to sight draft, dec . . . . 4,011,142.18
Overdrafts, in c re a s e .................... . . . .
427,676.61
Beal and personal property, increase.
86,075.25
Total assets, increase . . . . . .1................ 3,643,030.49
L IA B IL IT IE S .

Capital stock, increase
61,000.00
Due depositors, increase . . , .................. 3,154,543.17
Due banks and others, in crea se...........
139,568.61

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

S U R P LU S ,

*889,873.62

38,602.01
Surplus, in crea se...................................
Undivided profits, in crea se..................
249,906.74
Total liabilities, increase ...................... 3,643,630.49
Total increase in deposits since the statement of
November 10, 1904, was $22,785,386.73.
The following is Auditor Carroll’s consolidated
statement o f the assets and liabilities o f both state
and savings banks November 9, 1905:
ASSETS.

Bills re ceiv a b le.............................. ..$149,693,845.14
Gold c o i n .......................................... 1 1,434,243.15
Silver c o i n ........... .. ........................
657,601.28
Legal tender, national bknotes, etc.
3,812,373.23
Credits subject to sight d r a f t _____ . 25,185,035.01
Overdrafts . ............ ............... .., . .
2,165,073.11
Real and personal p ro p e rty
5,640,277.51
.

WM. A. TILDEN,

Total

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

$188,588,448.43
L IA B IL IT IE S .

Capital s t o c k ............. ........................$ 24,779,800.00
Due depositors................................... 154,713,694.38
Due banks and oth ers...................
559,343.73
Surplus . ............
4,291,652.37
Undivided profits .....................
4,243,957.95
T o t a l ........................................... . .$188,588,448.43
Following is the statement showing the condition
o f 458 savings and 251 state banks at the close of
business November 9:
ASSETS.

Savings.
State.
Bills receivable ...$101,8 09.368.25 $47,884,476.89
Gold coin . .............
843,648.37
590,594.78
Silver coin ----------376,775.48
280,825.80
Legal tender, national
bank notes, etc . . 2,279,824.54
1,532,258.69
Credits subject
sight d r a f t .........
16,334,969.74
8,850,074.27
Overdrafts ............
1,072,823.69
1,092,249.42
Beal and per­
sonal property . .
2,941,947.65
2,698,329.86
T o t a l ........... ,...$125,659,348.72 $62,929,099.71

TH E

December ioos.

--------- T H E —

N O RTH W ESTERN

BANKER.

;
B A N K S AN D B A N K E R S will save time

. Continental National Bank.

on their L IV E

OP CHICAGO

STOCK

having an account with

Report of Condition at close of Business, Thursday
November 9, 1 9 0 5 .

BU SIN ESS by
::::

::::

::::

::::

R ESO U RCES:

Loans and discounts............................ $33,449,585.40
Stocks and bonds.................................. 1, Oil, 202.1&-J34,460,727.53
50,000.00
U. S. Bonds to seoure circulation.......
Overdrafts..............................................
4,919.57
Real Estate..............................................................
Due from banks and U. S. Treasurer. 8,606,594.29
Cash........................................................ 12,298,813.45— 20,903,407.74

THE
4,685.70

$55,423,740.54
L IA B IL IT IE S :

Capital stock paid in ..................................................... $ 3,000,000.00
Surplus fund................................................................... 1,000,000.00
Undivided profits....................................................
161,402.78
Circulation......................................................................
50,000.00
Deposits........................................................................... 51,212,337.76
$55,423,740.54

National Live Stock Bank
O F C H IC A G O
Capital and Profits

$ 2 ,3 0 0 ,0 0 0 .0 0

O F F IC E R S :
John C. Black , President
George M. Reynolds, Vice President
N. E. Barker , Vice President
Ira P. Bowen , Assistant Cashier
Ben j . S. Ma y e r , Assistant Cashier
W. G. Sohroeder , Assistant Cashier
H. W ald eck , Assistant Cashier
John McCar th y , Assistant Cashier

OFFICERS
S. R. Flynn, President

Ample Resources. Courteous Treatment,
Superior Service.

L IA B IL IT IE S .

Capital stock . . . . . . $ 14,039,000.00 10,740,800.00
Due depositors . . . . 106,475,775.99 48,237,918.39
Due banks
257,274,16
302,069.57
and o th e r s ......... i
Surplus . .............
2,488,657.41
1,802,994.96
Undivided profits .
2,398,641.16
1,845,316.79
T o t a l ........... ,...$125,6 59,348.72 $62,929,099.71
E STA B LISH E S A SA V IN G S D E P A R T M E N T

The Northwestern National Bank, o f Minneapo­
lis, has decided to establish a savings department in
connection with its regular banking business.
The additional department will combine all the
essential features o f individual savings banks, re­
ceiving deposits on the same terms and conditions
and offering the same rate o f interest on deposits as
obtains in savings institutions, vis., 3 per cent. The
savings department was established December 1.
The action o f the Northwestern National in pro­
viding a savings department under the general regu­
lations and conducted along the lines of savings
banks generally, is not a new idea in the manage­
ment o f national banks. A number of important
national banks in various sections o f the country

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

G. A . Ryther, Cashier

G. F. Emery, Assistant Cashier

having established savings department in recent
years.
! J
The Northwestern National has a capital o f $1,000, 000, with a surplus o f $800,000. It was organ­
ized in 1872, and has paid an average o f over 8 per
cent per annum in dividends to its stockholders since
its organization.
THE Y E A R S ’ PROFITS

The year about to close marks a record breaking
period of bank prosperity throughout the entire
country. Never before have banks employed great­
er prosperity. Deposits have been on the increase*,
the demand has been good most o f the year and
strong enough to keep up the rates. General busi­
ness conditions have been such that the banker could
keep his reserve down to the limit and in many
cases the cash on hand has been temperarly below
the limit. Good dividends and an increased surplus
marks the close of the best year the banks have ever
had.
THE DES. M O IN ES CH A P TE R , A. I. B. C.

The Iowa chapter number one o f American Insti­
tute o f Bank Clerks, located at Des Moines, has
completed its organization with seventy charter mem­
bers.

ÎH È NORTHWESTERN B A N K E R .

i6

December, 1905.

Merchants National Bank
OFCedar Rapids
Iowa

P O R A Q U IC K A N D

J O H N T . H A M IL T O N , P res.

SA TISFA C TO R Y SERVICE

P. C. F R IC K , V ic e -P re s .

WE

AFFORD F A C IL IT IE S

D E P O S IT S

TH AT ARE

$ 2, 0 0 0 ,0 0 0 . 0 0

TH E BEST

TH E CHICAGO B A N K S

Tlie fifteen national banks of Chicago show $313,407,000 deposits November 9, or $8,107,000 less
than the deposits in the national banks August 25,
but $14,561,000 more than one year ago. The total
loans now are about $24,500,000 larger than they
were a year ago. The cash is now about $6,500,000
less than in August and nearly $9,500,000 less than
that o f the corresponding day last year. The recent
improvement in the money rates brought the
most profitable season the national banks have had
for some years, and they are employing as much of
their money as possible.
The aggregate figures o f the national banks are
as follows:
Loans and
Cash
..... r A Thh?
Deposits
discounts.
resources.
November 9
$313,407,409$215,658,663$125,027,879
August 25 .................... 321,514,492 216,478,180 131,533,207

JA S . E. H A M IL T O N , C a s h ie r.
J O S . W . L E S IN C E R , Ass t C a s h .

Ford, while a resident of Sioux Falls, cashed a
check for an acquaintance and then deposited it
with the State Banking and Trust Company for col­
lection. The Nebraska bank on which the check
was drawn paid the amount of the check but after­
wards found that the instrument was forged. The
bank then assigned the claim to Greenwall, who in­
stituted the action in the court for the recovery of
the amount of the check. Judge Jones held that a
clear case of forgery was established and that Ford
did not exercise due diligence in taking the check
and cashing it.

A N O TH E R N E W B A N K

A T CEDAR R A P ID S

Among the individual banks the decreases in de­
posits were general and in about even proportion, ex­
cept in a few instances where increases were shown.
The National Live Stock added nearly $2,000,000
to its August total.

A new bank is being organized in Cedar Rapids,
to be called the Iowa State Savings Bank. The new
bank will not begin business until after the first
o f the year. The new bank will be a savings in­
stitution, with a capital of $50,000, and will be
located in a new building. The fixtures have al­
ready been purchased.
A number of leading Bohemian residents of the
city will be identified with the new institution.
Joseph D. Lesinger, for many years identified with
the Merchants’ National Bank as assistant cashier,
and one of the most popular young Bohemians of
the city will be cashier; A. Temec will be president
and Vaclaw Hasek vice president.

A SOUTH D AKO TA B A N K DECISION

STOCKHOLDERS M A Y INSPECT BOOKS

Judge Jones o f the state circuit court in the case
of Greenwall vs. The State Banking and Trust
Company, o f Sioux Falls, S. D., involving the
amount o f a check paid by a Nebraska bank and af­
terwards ascertained to be a forgery, took the case
from the jury and directed that a verdict be returned
in favor of the plaintiff as against Ford, but relieving
the State Banking and Trust Company from all lia­
bility.

Regarding th e, case o f J. W. Guthrie vs. H. L.
Harkness, the supreme court of the United States
has just held that a stockholder in a national bank
is entitled to inspect the books of the bank.
The case arose in the Commercial bank of Ogden,
Utah, of which TIjarkness owned one-fifth of the
stock. He was denied the right of inspection. The
supreme court of the state decided in favor of his
contention and that decision was affirmed.

D ecem b er............... $ 8,107,083 $
821,517 $ 6,505,328
Per c e n t .....................
2.21
0.37
4.95
Nov. 10, 1904.............. 298,846,109 191,175,805 134,474,624
Inc........................... .
Per cent ........... . ..
*Decrease.


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

14,561,300
4.87

24,480,858
12.8

*9,446,745
7.02

THE

December, 1905.

N O RTH W ESTERN

BAN KER.

Doing Away with Hand Listing
of Deposit Tickets and Checks
The Mutual Alliance Trust Co., of New Y ork, use a
system in connection with the BU RROU GH S Adding
and Listing Machine by which they do away with the
work of hand listing deposit tickets and checks, saying
daily from forty to fifty closely written pages.

The whole system of handling the work is
told in “ Practical Systems,” free upon request.
If you want to test the BU RROU GH S in your own
counting-room , a request will bring a machine for free trial.
No expense and no obligation to purchase.

Number of Machines in Use 29,000

IDurroiinhs JVdftina illacftfttc (Eompautj
Formerly American Arithmometer Company, St. Louis, Mo.

Detroit, Michigan, U. S. A.

G REAT P R O SP E R ITY

IN

NO RTH DAKOTA

The writer has just returned from a trip through
North Dakota. The crops this year have been uni­
form ly good— the best in several years— and as a
consequence everybody has money and debts are be­
ing promptly paid. The banks almost without ex­
ception show large deposits and report “ easy money.”
Because o f the large crops and good prices farms
are rapidly changing hands at valuations higher
than ever before. Five years ago thousands of quar­
ters that sold for $500 each are now selling for
$2,500.
L A R G E IN C R E A SE IN DES M OINES DEPOSITS

Fifteen Des Moines banks show a total deposit
o f $22,047,951, and loans to the amount of $18,076,951 in the statements o f November 9. This
shows a gain in deposits over the November call of
last year for the same fifteen banks o f $3,422,243.
This is considered a remarkable gain and is one
o f the most satisfactory statements they have ever is­
sued.
N ot alone are the Des Moines banks in splendid
condition, but reports come from all over the state
that never in the history o f Iowa banking have the
institutions made a better showing in general.
The excellent showing is due to the prosperous
conditions o f Des Moines and Iowa, which have
been manifested not alone in increased bank depos­

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

its the year past, but in unusual activity in real
estate and building and in other lines o f business.
Des Moines clearings throughout the year have
shown an excellent gain. The total clearings for the
year now border on the $ 110, 000,000 mark, whereas
at this season o f the year in 1904 they were less than

$100,000,000.
HOT FROM ITS O W N

M IN T

A western banker once experienced a run on the
bank that for a time bade fair even to exaust his
originality and resourcefulness.
Out in front of the cashier’ s window for a block
stood the frightened, crowding, surging mass of
depositors bent on securing their all before the bot­
tom fell out of the Gibralter they were assailing.
It was a wearying and a nerve wrecking job that
the banker had, passing out the currency with a
nonchalant air that suggested millions o f dollars for
liquidation. H e scarcely spared a glance down the
line to estimate the task before him, but as he grew
restless under the strain, his eyes inadvertently
caught sight o f Denny O’Leary struggling loudly
in the crowd.
At sight o f Denny a scowl crossed the bankers
brow. Denny was well known to the bank. H e
carried a balance of $200 and called twice a week
to see i f his fortune was really intact or ruthlessly

i8

a /A j :
— ----------- k,.A..!_L
j
p

THE

N O RTH W ESTERN

BAN KER.

December, 1905.

The Hamilton National Bank
O F C H IC A G O

C A P IT A L
$ 5 0 0 ,0 0 0

Bank Fixtures For Sale
W e manufacture and sell
the highest grades of up-

O F F IC E R S
C h a r l e s B. P i k e , President
J. H. C a m e r o n , Vice-President
H e n r y M e y e r , Cashier
G e o . H . W il s o n , Assistant Cashier

to-date

bank

furniture

and fixtures, and all kinds
of high grade mill work.
Consult us if you are in

D IR E C T O R S
F. A . Delano, 1st Vice-President Wabash Railroad Company.
Wallace Heckman, Business Manager Chicago University.
Charles L. Bartlett. President Orangeine Chemical Co.
T . A . Shaw, J r ., of T . A . Shaw & Co.
A . A . Sprague, 2d, of Sprague, Warner & Co.
Louis E. Laflin, Manager Estate of Matthew Laflin.
Charles B. Pike, President.
J. H. Cameron, Vice-President.
Henry Meyer, Cashier.
C. J. Eldredge of Merrill & Eldredge, Com. Merchants.

the market for anything
in this line.

The E ast Side Planing Mill,
W . C. JAEGER, Proprietor,
Des Moines, Iowa.

W e Study the Requirements of the Banks in
the Northwest and Endeavor to Meet
Them in Every Reasonable W ay
had been profligated during his interim o f negli­
gence.
“ Take 200 silver dollars, put them in a pan on
the gas stove and heat them. Watch the window
and when Denny O’Leary is next, rush them in to
me. D o you understand ?”
“ I d o !” said the janitor, making a line for the
gas stove.
On and on toiled the paying teller; closer and
closer came Denny.
“ I — I — Mister Banker— dere sur— I know ye
that honest th‘------- .”
- “ Yes, yes,- I understand,” interupted the hanker
with unwonted vigor. “ Y ou aren’t afraid, but you
don’t want to take chances. Here’s your money,
Denny..
W ith a swift sweep of his hands and a deft turn
o f the pan, he shoved the 200 heated dollars through
the wicket into the very arms of Denny O’Leary.
“ Wow, H oly Smithers, they’re— they’re h o t!
They’re rid h o t!”
“ Hot ? O f course they’re h o t; but ain’t we turn­
in’ ’em out as fast as we can?”
“ I dunno— I dun n o !” blubbered Denny, and pick­
ing up a cartwheel that was burning a hole in the
marble slab.


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

“ W hew! but them dommed things is hot! Aw,
well,” meditating, “ Mir. Banker, yer all right. I
know yer all right. Y ou jest keep them.
Whenever vague rumors of the bank’s instability
reach the ears of Denny O’Leary, he blows remin­
iscently upon the blistered fingures of memory and
between whiffs from his old dudeen murmurs reas­
suringly :
“ Aw, t’ell wid adjitashum! A bank that kin make
money faster’n it kin cool off, is good enough fer
Denny O’Leary!”
TH E M E R C H A N TS N A T IO N A L , ST. P A U L

Among the good banks o f the Northwest the Mer­
chants National of St. Paul stands well toward the
front. TTor years it has shown a steady and con­
sistent growth. Their statement as per recent call
showed surplus and profits amounting to $427,000,
and
deposits
of
$8,152,556.
The officers
of this popular St. Paul institution may well feel
proud o f the results o f their work and management.
The officers are : Kenneth Clark, president ; C. LI.
Bigelow and Geo. H. Prince, vice presidents ; IL. W.
Parker, cashier, and H . Van Yleck, assistant
cashiers. The capital o f the bank is $ 1, 000, 000.

December, 1905.

NEW

THE

N O RTH W ESTERN

LOCATION

GROW ING
D A IL Y
W RITE US

BANKER.

19

N E W EQUIPMENT

Iow a ^
J ^ j
itbograpbmg
Company ~
,

B A N K A N D O F F IC E

PROGRESSIVE

ALVAYS

S T A T IO N E R S

7707 =7 0 9 = 7 1 1 Locust Street, Des Moines, I o w a

F IN E SH O W IN G OF TH E M E C H A N IC S A M E R IC A N
N A T IO N A L

The last statement o f the Mechanics-American
National Bank o f St. Louis shows continued prog­
ress. It shows bills discounted, $10,484,853; stocks
and bonds (other than United States), $394,422;
demand loans, due from banks, and cash on hand,
$14,806,012; capital stock, $2,000,000; surplus and
undivided profits, $2,669,705; gross deposits, $21,217,386; total resources, $27,885,'290. The official
staff consists o f president, Walker H ill, whom every
banker knows; vice presidents,
P. H illiard; W.
J. Kinsella and Epron Oatlin; cashier, L. A. Battaileffi assistant cashiers, J. S. Calfee, J. A. Berninghaus, C. L. Allen and F. M. Gardner.

better-directed efforts of farmers themselves have in­
creased the value o f their farms 33.5 per cent, or an
amount approximately equal to $6,133,000,000.
“ Naturally such a large class of the population
as the farmers, producing wealth and surpluses to
the extent that they are, have savings which thew
invest in various ways, since in this country the
stocking and its hiding place are not the savings
bank. One of the most notable outgrowths o f savings
by farmers is the great multiplication of small na­
tional banks in recent years. Under the amendment
to the national banking act, permitting the organiza­
tion of banks with a capital o f less than $50,000, as
many as 1,154 o f these banks were organized from
March 14, 1900, to October 31, 1905.

BILL OF LADING COMMITTEE

O M A H A B A N K S M A K E BIG G A IN S

Persident John L. Hamilton of the A. B. A. has
selected the following gentlemen for the committee
to confer with committees o f the Shippers’ Associa­
tion and o f the Carriers’ Association, relative to
adopting a uniform bill-of-lading: Lewis E. Pierson,
president o f New York National Exchange Bank,
chairman; F. O. Wetmore, cashier First National
Bank, Chicago; W illiam Livingston, president Dime
Savings Bank, Detroit; William Ingle, cashier Mer­
chants National Bank, Baltomore; J. A. Lewis,
cashier National Bank o f Commerce in St. Louis.
FA R M E R S BECOME B A N K E R S

In the ninth annual report of the secretary of
Agriculture just issued, Secretary Wilson says: “ I f
the farmers’ economic position in the Nnited States
is to be condensed to a short paragraph, it may be
said that their farms produced this year wealth valu­
ed at $6,415,000,000.
* * * W ithin a decade
farmers have become prominent as bankers and as
money Tenders throughout large areas; and during
the extent that they are, have savings which they


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

The combined deposits of the Omaha National
banks, since August 25, have decreased $1,470,356
while the loans and discounts have increased $ 1, 955,273. This condition indicates a big demand through­
out Nebraska. Country banks have called for their
money under pressure of heavy demand and this
has diminished the surplus at Omaha, merchants,
manufacturers and promoters have had to borrow
large sums o f money to care for their increased busi­
ness and this has increased the loans.
A camparison o f the present condition with that
at the close of business November 10, 1904, shows
a remarkable growth o f the national banks in all
departments. In the year loans have increased $ 6,022,298, deposits have increased $8,349,427, cash
on hand has increased $2,024,414, and total re­
sources have increased $7,926,555. These figures
do not include the state banks.
The condition o f the five national banks of Omaha
November 9, shows total deposits o f $35,883,660,
and the total loans o f $22,542,383 with cash on hand
o f $13,945,010, and total resources o f $41,176,561.

THE

20

NORTHW ESTERN

December, 1905

BANKER.

:A 4

____

The National Bank

The
Farmers’ O . Mechanics’
National BanK
o / P H IL A D E L P H IA , P E N N A .
427

CHESTNUT

of North America
In New York.

STREET

OFFICERS

C a p ita l

$ 2 ,0 0 0 ,0 0 0 .0 0

S u r p l u s a n d P r o fits

1 , 0 7 8 , 0 7 7 . 8 0

D e p o s its

1 3 ,0 9 5 ,0 0 0 .0 9
Organized January 17, 1807

D i v i d e n d s P a id

ALFRED H. CURTIS,
President

CHAS. W. MORSE,
Vice President

HENRY CHAPIN, J r .
Vice President

EDWARD B. WIRE,
Cashier

J. FREDERICK SWEASY, Assistant Cashier

$ 1 2 ,3 0 7 ,0 0 0 .0 0

O F F IC E R S

Howard W, Lewis, President
Henry B. Bartow, Cashier
John Mason, Transfer Officer
Oscar E. Weiss, Assistant Cashier

Capital, $ 2 ,0 0 0 ,0 0 0

Deposits, $ 2 1 ,0 6 5 ,8 6 7

Surplus and Profits, $ 1 ,8 9 3 ,0 5 0

Travelers* Letters of Credit Issued.
Foreign Exchange Bought arid Sold.

Accounts of Banks and Bankers Solicited.

DEBTS A R E

P A ID

The Northwest is enjoying the experience o f be­
ing “ out o f debt” and having money to loan. While
there are still a few outside debts to pay and still
a certain amount o f Eastern money interested in
the Northwest, as a general proposition our East­
ern debts are all paid and we have money to loan
where rates and security are good. The West is no
longer dependent upon outside money but has more
than sufficient for all local needs. The people of
the West are growing rich and it is their money seek­
ing investment that has boomed the price o f land in
their own state, and has reached over and is now a
predominating factor in the development o f our sis­
ter nation on the North.
GOOD W O R K

IN

M IN N E A P O L IS

From August 25 to November 9th five leading
banks o f Minneapolis, made a total gain in deposits
o f $7,230,8 50, a gain o f approximately 18 per cent
while the loans gained about 20 per cent. The to­
tal deposits o f these five hanks on November 9th
was $46,630,064 and the total loans $37,196,539.
Minneapolis bankers report a good local demand and
fairly good rates.
Nowhere is the result o f the era o f prosperity that
began with the election o f William M cK inley as
president o f the United States in 1896 shown more
clearly than in the figures o f the banks in Chicago.


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

Accounts of Other Banks Invited.

The deposits of the national hanks of Chicago Au­
gust 26, were $206,520,325, or 178.4 per cent
larger than the deposits held by the same banks and
the institutions they have absorbed, on December 17,
1896, soon after M cKinley’s first election. The N a­
tional Bank o f the Republic has the largest growth
during that time, being 486 per cent. This record
is all the more notable because the bank has had
no consolidations.
ONE OF THE B A N K IN G L A N D M A R K S

One o f the financial landmarks of Philadelphia is
the Girard National Bank— perpetuating the name
and fame of Stephen Girard, one of America’s early
financiers.
The Girard National, with a capital o f $2,000,000
has surplus and profits o f $2,920,673, deposits of
$29,237,000 and total resources o f $35,638,336.
The officers o f the bank are: President, Francis
B. Reeves; vice presidents, Richard L. Austin and
Thomas E. Wiedensheim; cashier, Joseph Wayne,
Jr.
Cashier Wayne is one o f the successful and prom­
inent young bankers o f the East; active in the state
and national bankers asociations and a power in in­
creasing the business o f his hank. He is now vice
president o f the Pennsylvania Bankers Association
and his friends say next year he will be president.

December, 1905.

ÎH Ë

N O RTH W ESTERN

BAN KER.

2i

GENERAL BANKING.
Accounts of Banks, Merchants, Corporations and Individuals Solicited on Favorable Terms.
T rust D epartm ent. F oreig n E xch a n ge D epartm ent. Savin gs D epartm ent: In terest paid at the rate o f 3 per cen t per an­
num on dep osits o f one dollar and upw ards. Farm Loan D epartm en t: To the already unsurpassed facilities for handling country
bank accounts, the Merchants Loan & Trust Company have instituted a farm loan department. F. W. Thompson, formerly of Iowa, has
been appointed manager of this department, and his long experience as a banker and bank examiner insures prompt and courteous consid­
eration in connection with first mortgage farm loans that may be submitted. Carefully selected first mortgages on improved farm lands
bought and sold.

CHICAGO C LE A R IN G S

W. D. C. Street, manager o f tlie Chicago clear­
ing house reports average monthly increase in hank
clearings since the beginning o f the year of $78,449,343 and the total clearings for the eleven
months exceed the twelve months o f 1904 by $157,164,014.
It is expected that the total clearings o f the banks
for December will reach the billion dollar mark.
December is recognized as the banner month o f the
year and that one month last year showed total clear­
ings o f $859,788,770.
Billions are always to be reckoned with in count­
ing up the yearly total o f bank clearings in Chicago.
Last year the aggregate was $8,989,983,764. Eleven
months o f this year show a total o f $9,147,147,778.
Since its organization the clearing house has han­
dled the still more incomprehensible sum of $128,874,719,226.
O f the five large cities o f the country, New York,
Boston, Philadelphia, St. Louis and Chicago, the
last two are the only ones showing an uninterrupted
increase in bank clearings since 1896.
AN

build up a successful bank. Cashier Whinery is
ably seconded in his office by his fellow officers and
by and exceptionally able and actively interested
board of directors.
A N O TH E R N E W M IN N E A P O L IS B A N K B U IL D IN G

Construction on the new Security Bank building
of Minneapolis is going on at a rapid rate. The
work will continue throughout the cold weather.
The thoroughness with which everything is being
done bears out the statement that there will not be

IN C R E A SE OF $ 2 ,6 2 5 ,0 0 0

The Northwestern record for growth is now held
by the First National Bank o f Minneapolis, whose
statement o f November 9th shows deposits of $13,571,577 as against $10,951,216 recorded in the call
o f August 25. Messrs. Prince, Jaffray, Orde, Mackerchas and Brown make a strong pulling team.

T
\

NEW HOME OF THE SECURITY BANK OF MINNESOTA
M IN N E A P O L IS

A T W E N T Y -S I X M O N T H S’ RECORD

To have secured deposits o f $580,763 and undividede profits o f $ 10,000 in the short space of 26
months is the very encouraging record of the Centu­
ry Savings Bank o f Des Moines. Starting less than
two years ago with a capital o f $100,000 the Cen­
tury Savings Bank has demonstrated its ability to

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

a finer office building in the west when this structure
is completed.
The entire building including the brick walls are
to be sustained by the steel work. In the completed
structure it is estimated that there will be 2,000
tens o f steel utilized. The frame work will proba­
bly be up by the middle of the coming summer and
the entire building completed in about a year.

22

r

THE

N O R T H W E ST E R N j[B A N K E R .

December, 1905.

THE

CAPITAL, $1,000,000.

People’s
Savings
Bank,

SURPLUS, $500,000.

UNDIVIDED PROFITS, $328,718

d e s m o in e s

DIRECTORS:
STEPHEN BAKER,
Pres. Bank of Manhattan Co., N. Y.
SAMUEL G. BAYNE,
Pres. Seaboard National Bank, N. Y.
JAMES G. CANNON,
Vice Pres. Fourth Nat’l Bank, N. Y.
EDMUND C. CONVERSE,
President.
HENRY P. DAVISON,
Vice Pres. First National Bank, N. Y.
JAMES H. ECKELS,

Pres.Commercial N a t’l Bank, Chicago.

WALTER E. FREW,
Vice-Pres. Corn Exchange Bank, N. Y.
A. BARTON HEPBURN,
Pres. Chase National Bank, N. Y.
THOMAS W. LAMONT,
Second Vice President.
GATES W. McGARRAH,
Pres. Mechanics Nat’l Bank, N. Y.
EDGAR L. MARSTON,
Blair & Co., Bankers, N. Y.

GEORGE W. PERKINS,
J. P. Morgan & Co., Bankers, N. Y.
WILLIAM H. PORTER,
Pres. Chemical National Bank, N. Y.
DANIEL G. REID,
Vice Pres. Liberty National Bank, N. Y.
FRANCIS H. SKELDING,
President First National Bank, Pittsburg.
EDWARD F. SWINNEY,
Pres. First Nat’l Bank, Kansas City.
JOHN F. THOMPSON,
Vice President.
GILBERT G. THORNE,
Vice Pres. National Park Bank, N. Y.
ALBERT H. WIGGIN,
Vice Pres. Chase National Bank, N. Y.
ROBERT WINSOR,
Kidder, Peabody & Co., Bankers, Boston.
SAMUEL WOOLVERTON,
Pres. Gallatin National Bank, N. Y.
EDWARD F. C. YOUNG,
Pres. First National Bank, Jersey City.

IN T E R E S T A L L O W E D U P O N D E P O S IT S .

The old reliable Seaboard National o f New York
City instead o f having $500,000 capital and $ 1,000,000 o f surplus and profits now has $ 1, 000,000
capital and $ 1, 000,000 surplus and the beauty (to
the stockholders) o f it is that half o f the capital
and all o f the surplus has been earned.

W e are in receipt o f a fine 1906 Art Panel Souv­
enir entitled “ Morning.” It is a reproduction in
twenty-one colors of the famous painting o f that
names by Carle J. Blenner o f Paris. The original
oil painting is the property o f the Burroughs Add­
ing Machine Co. o f Detroit, who are favoring their
friends and patrons with the beautiful reproductions.

$ 1 0 0 ,0 0 0

Deposits,

-

-

-

7 1 ,1 2 8

1 ,3 31,086.06

O F F IC E R S :
M a h t t n F l y n n , P resid ent,
O. H. M a r t i n , Cashier,
F r a n k P. F l y n n , A ss’ t. Cash.

as one of the principal negotiators in an $ 8, 000,000
bank deal which has been consummated. The Pirst
National Bank of Buchanan county purchased the
National Bank of St. Joseph, combining the two
hanks with a joint capital o f eight millions. Keep
your eye on Pashce— he has other things in view.

A NEW
A F IN E A R T P A N E L SO U V E N IR

-

Surplus and Profits,

D. W. S m o u se , Vice-President,

E. C. C O N V E R S E , P r e s id e n t .
J . F. T H O M P S O N , V. P.
T. W. L A M O N T , 2"°V.P.
D. E. P O M E R O Y , T r e a s .
B. S T R O N G J r. Secy.
H.W. D O N O V A N , Asst. Tr.
F. N . B .C L O S E , Asst.Tr. OfFr.

TH E W E L L M A N A G E D SE A BO A R D N A T IO N A L

Capital

, ie w a .

PLAN

IN

B A N K IN G

The Bank of Commerce is the title of the new
Chicago institution. A system o f receiving stations
will be established and two* hundred druggists will
act as receiving tellers. The daily deposits made
throughout the city will be collected by messengers.
Among the directors of the hank are several well
known Chicago bankers.
SOUTH D AKO TA PROSPEROUS

PASCH E

LEN D S A H E L P IN G H A N D

Charles Pasche, formerly cashier o f the Iowa N a­
tional B'ank o f Davenport, and now prominently
connected with the National Stock Yards Bank of
St. Joseph, Mo., is mentioned in the press dispatches

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

South' Dakota has just harvested the best crop in
her history and it is being marketed at prices above
the average, Farm properties are being sold in
large numbers at increased valuation and as a con­
sequence o f all these conditions, the hanks are

■■’•T'es"*'" ~

December, 1905.

THE

N O RTH W ESTERN

BAN KER.

23

iewa NATIONAL BANK
D R V EN PO R T, I0W R .
Extends to banks and bankers every facility desired in a
corresponding bank, and every advantage that our sound and
conservative business methods justify. Collections and ac­
counts solicited.
Capital, $100,000.
Surplus and profits, $58,576.
Deposits, $1,096,057.
A. P. D O E , P re s id e n t. J O H N D. B R O C K M A N N , V . P res.
J. E. B U R M E IS T E R , C a s h ie r.

overflowing with money. Never before has there
been so much money in the state or everybody been
so prosperous.
W IS E

AND

O TH E R W ISE

The first report o f the Federal National, I. N.
Perry’s new bank o f Chicago, shows $820,000 de­
posits, the amount having been taken since October
16, when the bank began business.
The bank inspector who examined that Allegheny
institution and found nothing wrong with it a few
weeks before the failure is now looking for another
job. Eventually it may be made plain that examin­
ing is one o f the functions o f an examiner.— Sioux
City Journal.
It is currently reported that Henry Ml Carpenter,
cashier of the Ponticello State Bank, of Ponticello,
is considering an offer from a much larger institu­
tion. It will take considerable inducement to get P r .
Carpenter to leave his bank and his friends in P o n ti­
cello.— Chicago Banker.
Buffalo Express : Signs were taken fram a Pittstown, Pa., bank to be relettered, and depositors
thought the institution was about to suspend, many
o f them drawing their accounts. What would these
depositors have done if the cashier had shaved off
his mustache?
Louisville Times :
Governor H anly’s proposal
that the state funds shall be kept in banks especially
selected for that purpose appears no more than fair
when you consider the number o f bankers kept in
state institutions especially selected for that purpose.
Elk Point Courier: In our columns under the
head o f “ School Notes,” it is reported that eightythree children in our public schools have accounts

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

at our banks aggregating $1,156. It is but a trifle
over two years since our local banks began this move­
ment and the present showing is quite creditable, we
believe.
Parshalltown Times-Republican: Charles G.
Dawes, defending the beef trust before the Nebraska
Bankers’ convention and shouting “ To. h —1 with
platitudes” reminds us o f P r . Vanderbilt’s less un­
dignified “ The public be d — d.” That P r . Dawes
was roundly hissed by the assembled bankers argues
well for all Nebraska depositors.
National Bank Examiner Shaw of Iowa is trying
a new method of bank inspection in the state. The
banks receive two statements, one is made out by
the depositor and sent to the examiner. Another
showing the account as recorded is sent by the bank
to the examiner, and the latter compares the two to
be sure there is no discrepancy.
One banking exchange says: “ President Brown
of the exploded Eirst National Bank o f Sioux City,
Iowa, has been sentenced to five years in the peni­
tentiary.” The First National Bank o f Sioux City
is not “ exploded,” but on the contrary is one o f the
strong banks o f the Northwest. The Brown referred
to was never connected .with it in any capacity.
Brown was connected with a little country bank in
northewestern Iowa.
The new First National Bank building of Pinneapolis will be commenced at an early date. The
building is to occupy a ground space 99x165 feet.
The plans and specifications have been prepared by
Frederick W. Gibson of New York City. The build­
ing, as was seen from the cut published in the last
issue o f the N orthwestern B anker , will be a not­
able addition to the best bank architecture o f the
West.

THE

N O RTH W ESTERN

BAN KER.

December, 1905 -

d

¡P
ê
Ou tip toe a bank
burglar will sneak up
to the vault, and there
in the darkness, with
not a sound to be heard, he quietly begins operations.
His little drill is brought into play, and as it penetrates the
Electrical Steel Vault .Lining of our system—bang !
t , The alarm is sounded—the great gongs begin their noisy clatter—
pandemonium reigns. There’s not a burglar on earth who will not
pick up and “ git” when he’ s tackled a bank that is protected by our
system and the gongs begin to get in their work.
And best of all, the gongs never fail. Of the thousand and odd
banks in which our system is installed, not one has been robbed, and
never has the alarm failed to be sounded upon attack.
That should prove the reliability of our system, and when you consider the low cost of
installing it, don’ t you think you are making a bad business mistake in going unprotected ?
If interested, write for full particulars.

A M E R IC A N B A N K PRO TECTIO N C O M P A N Y
M IN N E A PO LIS , M INNESOTA

C H A S . E. B E N N E T T . M IN N E A P O L IS .

David B. Eorgan, vice president o f the Eirst Na­
tional Bank o f Chicago, said in a recent speech that
the present deposits of the First National Bank are
double those of the combined deposits o f every bank
in Chicago fifteen years ago. Nothing could better
illustrate the marvelous growth o f Chicago banks as
there are several other hanks there with deposits of
over $50,000,000 and the national banks o f the city
have total deposits o f $313,407,400.
According to the latest bank reports, there are
5,220 national, 6,642 state, 5,334 private, 1.744 sav­
ings and 944 trust companies, making a grand total
of 19,764 banks in the United States. These banks
represent in round numbers about sixteen billions of
dollars. The bankers o f America, with their five
classes, represent the hand o f American progress,
each kind o f a bank being as it were a finger on the
hand o f progress. The removal o f either o f these
fingers would cripple the efficiency o f that hand and
retard its working power, just as the removal o f a
finger from the hand o f man injuries the usefulness
of that member. I firmly believe that it is for the
best interests o f this country that we have the five
different classes o f banks, and that any particular
class o f bank will prosper as the necessity for that
kind o f a bank exists. Any legislation that has in

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

it the attempt to enact such laws as would not be
equitable to all classes of banks should be defeated,
or if enacted should be repealed. Any legislation
that is detrimental to any one of the five classes of
banks indirectly injuries the whole banking system.’5
— President John L. Hamilton.
THE PORT D E A R B O R N N A T IO N A L

The Fort Dearborn National of Chicago has had
a marvelous growth during the year. Their last
statement shows deposits of $9,412,255; capital (re­
cently increased $ 1, 000, 000 ; surplus and profits,
$231,000. The officials are: L. A. Goddard, presi­
dent; Chas. L. Farrell, vice president; Nelson H.
Lampert, vice president; Henry. E. Kent, cashier,
and Charles Fernald, assistant cashier.
THE

N A T IO N A L B A N K OP COMMERCE,
M IN N E A P O L IS

The November 9th report of the National Bank
o f Commerce, Minneapolis, shows the best statement
that growing institution has ever put out. With a
capital of $1,000,000 it has a surplus of $300,000;
other profits o f $ 100,000 and deposits of over $7,000, 000. A. A. Crane is cashier; W . S. Harris, G.
E. Williamson, W. F. McLane, assistant cashiers.

THE

December, 1905

N O RTH W ESTERN

BAN KER.

25

The Merchants National Bank
C a p it a l $ 1 , 0 0 0 , 0 0 O

of Saint Paul, Minn.
U n it e d S ta te s

K E N N E T H C L A R K ., P r e s i d e n t
C . H . B I G E L O W , "V ic e -P r e s id e n t
G . H . P R IN C E , V ic e -P r e s id e n t
H . W . P A R K E R , C a s H ie r
H . V A N V L E C K , A s s is t a n t C a s H ie r

S u r p lu s

$ 3 5 0 ,0 0 0

D e p o s ita r y
D I R E C T O R S -.
D. R . N oyes
C r a w fo r d L iv in g s to n
E. N . S a u n d e r s
K e n n e t h C la r K
V . M . W a t K in s
J. H . S K i n n e r
L . P. O r d w a y
L o u i s W . H ill
F . B. K e llo g g
G e o . H . P r in c e
C . H . B ig e lo w

C o r r e s p o n d e n c e a n d P e rso n a l In te r v ie w In v ite d

SOUTH O M A H A B A N K S IN C R E A SE DEPOSITS

In spite o f the large withdrawal o f funds at this
season o f the year the South Omaha banks sho— gain in deposits over the call o f August 25th,
amounting to $82,000. The total deposits of the
South Omaha banks on November 9th were $7,682,142, with loans o f $4,547,954.
Interest Tables for Banks
We have received a copy of the Baker-Vawter Interest
Tables for Banks. The tables compiled by this firm are
conveniently arranged and absolutely reliable.
They
show at a glance the interest on amounts from $1 to
$10,000— one day to five years—2 per cent up. There are
60,000 computations whose
accuracy is vouched or.
Bound in cloth, 128 pages, sells regularly for $1.50, but
the publishers have made a special price to banks of
75 cents. The Baker-Vawter Company, Chicago, or Atch­
ison, Kan.

D A K O T A

N EW S

AN D

NOTES.

The Cogswell State Bank has let the contract for
the erection of a brick bank building.
It is reported that C. A. Russell of Anita, Iowa,
may open a new bank at Minot, N. I).
II. McAnulty of Fairbury, Neb., is talking of
starting at new bank at Spearfish, S. D.
R. D. West of Morgan, Minn., will be cashier of
the new Gold-Stabeck Bank at Antler, N. D.
The Hillsboro National Bank of Hillsboro, N. D.,
has had an extension granted to its charter.
The State Bank at Rocklake, N. D., will be
changed to the First National Bank. C. Lapham is
cashier.
The State Bank of Rutland, N. D., has opened
for business. J. R. Jones is president and H. L.
Greene cashier.

The Ethan State Bank, Ethan, S. D., has been
The Security State Bank o f Granville, N. D., has
converted into the First National Bank of Ethan.
been closed.
Capital $25,000.
The Manfred State Bank building at Manfred, N.
The First State Bank of Colfax, N. D., has opened
D., is completed.
for business. C. A. Tuttle is president and L. M.
It is reported that Jay Barbour will start a bank
Archer is cashier.
at Chester, S. D 1.
E.
H. Hunger and others will start a new bank at The State Bank of Brocket, N. D., has been con­
verted into the First Nlational Bank of Brocket.
Hankinson, N. D.
The First State Bank o f Crosby, N. D., has Capital $25,000.
The State Bank of Minot, N. D., has opened for
opened for business.
business.
R. C. Sanborn is president and A. D.
A new bank building will be erected for the State
Brunner
cashier.
Bank at Arlington, S. D.
The Buchanan State Bank o f Buchanan, N. D.,
The Lake County Bank o f Mladison, S. D., has
has opened for business; capital $10,000. Frank
moved into its new building.
The Mouse River Bank o f Towner, N. D., has H. Keeler is cashier.
moved into its new building.
The Logan County Bank has been formed at the
new town of Gackle, N. I). R. II. Owen is president
and R. A Werner cashier. A new building has been


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

THE

26
------------- q

N O RTH W ESTERN

December, 19 0 5 ,

BANKER.

- f : —

(M,
■■■.T H E ....

OFFICERS :

S. A . H a r r is , President
F. E. K e n a sto n , Vice Pres
A. A. C r a n e , Cashier
W. S. H a r r is , Asst. Cashier
G.E. W il l ia m s o n , Asst.Cash.
W. F. M c L a n e , Asst. Cash.

National Bank of Commerce
M IN N E A P O L IS ,

W ith its C a p ita l a n d S u rp lu s of $ 1 , 3 0 0 ,0 0 0 .0 0
a n d A d e q u a te E q u ip m e n t in every D e p a rtm e n t
W O U LD

BE P LE A SE D TO H A V E Y O U R
B A N K IN G B U SIN E SS.

The First State Bank of Lein, N. D., has been
incorporated. Capital $10,000. G. 1ST. Sivdahl and
others are interested.
The State Bank of Carpenter, S. D., has been char-

lonn ocnamber nas soiu me j^ujuirngv
at Menno, S. D., to J. FT1. Jacob and others.
Frash will be cashier.

A.

The First National Bank o f Chicago has been
made a correspondent o f the First National Bank
of New Bockford, N. D.
Edw. Pierce and J. K. Banks of Sheldon have
bought a controlling interest in the First National
Bank at Enderlin, N. D.
The First National Bank of Minneapolis has been
approved as reserve agent for the First National
Bank o f Rollettte, N. I).
The Hickson State Bank o f Hickson, N. D., has
been chartered. Capital $ 10, 000. A. K. Levits and
others are the promoters.
R. E. MlcCain has been elected cashier of the
First National Bank o f W illow City, Ni. D., in
place o f Emery Olmstead.
The Merchants National Bank o f St. Paul has
been approved as a reserve agent for the First National Bank o f Towner, N. D.
The First National Bank o f Rock Lake, N. P .,
has been organized to succeed the State Bank of
Rock Lake. Capital $25,000.
The Central Savings Bank o f H ot Springs, Nl
D1., has been incorporated. Capital $25,000. L. S.
Kelly and others are interested.
A new state bank has been opened at Glenullin, N.
D., capital $ 10,'000. P. B. Wickham will be pres­
ident and Chas. Waechte'r cashier.
S. M. Hydle has resigned as cashier o f the H ills­
boro National Bank to accept a similar position at
Garrison. He is succeeded by O. Arnegaard.
The application to organize the Merchants Nation!
al Bank of Dickinson, N. D., has been approved]

capital $50,000. J. H. Daly, J. F. Davis, M.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

M IN N .,

•

SAFETY,
PROMPTNESS,
LIBERALITY,
AND COURTESY,
ARE
OUR W ATCHW ORDS.

Ayers, J. C. F. Parker, George A. Senour and Welton McDonald are the promoters.
The First National Bank of Deadwood, S. D.,
carries a deposit of $1,700,000. This is the savings
and earnings o f the people of Deadwood principally.
J. IT. Ehlers has sold his interest in the First Na­
tional Bank o f Harvey, N. D., to R. W. Akin of
*
Minn. Lie will take charge of the bank at
Ponder ay.
J. E. Fencel has been chosen cashier of the First
National Bank of Hillsboro, N. D., in place o f A. L.
Intlehouse.
E. F. Jones has been elected to succeed O. H.
Erickson as cashier of the First National Bank of
Leeds, N. D.
NL L. Finch has sold the controlling interest in
Citizens State Bank of Andover, S. D., to A. J.
Hilton and A. W. Stone o f Erwin. Mr. Hilton
will be president.
The deposits of the First National and the Pen­
nington County Banks of Rapid City, S. D., show
a deposit of $940,454,, which is about $375 to each
inhabitant of the city.
The National Bank of Commerce and the North­
western National Bank, both of Minneapolis, have
been approved as reserve agents for the First Na­
tional Bank of Elkton, S. D.
Governor Elrod recently granted a requisition on
the governor of Iowa for Fred Barton and John
Burns, under arrest in Sioux City on the charge of
robbing the Springfield, S. D., hank.
The Farmers State Bank will soon be organized
at Pierpont, it is stated, with Pierpont capital inter­
ested in connection with F. B. Gannon of Aberdeen
and David Williams o f Webster.
South Dakota is furnishing a harvest field for the
safe blower.
There is plenty of money in that
state, and with their lax laws and short term pun­
ishment the blowers are attracted to that field.
W. R. Lasham has been elected vice-president of

December,

1905.

T H E N O RTH W ESTERN B A N K E R ,
i

r Ö lD

‘W IN T E R F IX T U R E S.”
Always Full Value.
M. Winter Lumber Co.
S h e b o y g a n , W i s . f U . S . .A .
Established 1805
D E S IG N E R S A N D M A N U F A C T U R E R S O F

HIGH-GRADE BANK, OFFICE and COMMERCIAL FURNITURE
Special Bank and Office Fixture Catalog
Special Chair Catalog, Special Desk Catalog

Sent on receipt of 25c. It will pay you to send for them.
J e n n in g s , L a ., M ay 28th, 1904.
Dear S ir:—
I beg to say that the new fixtures recently in­
stalled by the M. Winter Lumber Co., purchased
through you, are a substantial and handsome piece
of goods in every respect.
In addition to speaking favorably of the fixtures,
I wish to thank you personally for your courtesy and
valuable assistance in regard to saving us time and
trouble during their installation.
Yours very truly,
G e o . A. C o u r t n e y , Cashier.

Tlie Second National Bank of Fort Pierre, S. D.,
has been incorporated with a capital of $25,000.
Jas. R, McKnight, L. B. Albright, Louis Kehr, Jas.
Idalborn and P. F. McClure are the incorporators.
G. W. Hart has sold his interest in the Garden
City State Bank, S. I)., to local parties and is suc­
ceeded as cashier by J. M. Johnston. Mr. Hart
has bought an interest in the Merchants bank of
Bryant, S. D ., and will assume the presidency on
January 1.
That the cracksmen who sometime ago made an
unsuccessful attempt to rob a bank at Spencer, west
o f Sioux Falls, are yet hovering in that part of the
state is indicated by a raid which was- recently made
on the Farmer’s Savings Bank of Tea, a little town
south o f Sioux Falls.
According to Comptroller Tracewell 83 national
banks have been organized in North Dakota since
March 14, 1900. These banks represent a capitali­
zation o f $2,190,000. O f the total number of banks
in question, 79 were incorporated with less than
$50,000, while four were capitalized with $50,000
and more.
Tell your friends in North Dakota to come and
visit you, the G. N. N. P. and Soo Line in connec­
tion with the Minneapolis and St, Louis R. R. will
sell daily until December 31, 1905, tickets from
North Dakota to points in Iowa and Illinois at a
rate o f one and one-third fare for the round trip
with limit o f A pril 15, 1906. Give us the address
o f your friends in North Dakota. Write or call
at M. & St. L. City Ticket Office, 512 Walnut St.,
Des Moines, Iowa. W. S. Mathews, D. P. A. W.
K. Adams, C. P. A.

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

Another change in Aberdeen banking circles was
the retirement on December 1 o f A. E. Boyd as
cashier of the First State Bank of Aberdeen. He
will be succeeded in that position by C. H. Seeley,
formerly county commissioner of Brown county and
a prominent real estate man. At the same time the
capital stock will be increased from $25,000 to $50,000, a number of Aberdeen business men having
signified their intention of taking the additional
stock.
Henry Kurtz has brought a suit against the First
National Bank of Harvey, N. D., and its officers for
$50,000 damages for false imprisonment. Kurtz was
formerly a business man at that town and did bus­
iness with the bank. The bank officials charged
him with the embezzlement of $62, and Kurtz was
arrested in California and brought back to Harvey,
where he remained in jail thirty-two days. When
his case was called for trial in the district court the
action was dismissed for want of jurisdiction. The
bank claimed the embezzlement was of a sum of
money received on a note collected by Kurtz and
not accounted for.
E. T. Cassel, who has been manager of the Aber'
deen branch of the International Harvester Com­
pany since 1903, has resigned his position with the
harvester company and will enter the service o f the
Aberdeen National Bank as vice president and one
of the active managers o f the institution. The change
is made necessary by the rapid increase o f the bank’s
business, due to wise management and the general
prosperity prevalent in South Dakota. Isaac Lin­
coln, who has been vice president of the bank for
many years, will retain his office and his stock in
the bank, and there will be no other change in the
directors or stockholders.

28

!/ f

CV

*

THE

------- ................ - „ - h l U l - U -

N O RTH W ESTERN

ti

. . . f.

F IR S T

BAN KER.

December, 1005.

l i l l j - , ' . . - ........-.............................. .......................... - __ ________

.

BANK

N A T I O N A L
OFFICERS.

MINNEAPOLIS,

F. M. P r in c e ............. President.
C. T. Ja f f r a y . .Vice-President.
G e o . F. O r d e ................... Cashier.
D . M a c k e r c h a r .......Ass’t Cash.
E r n e st C. B r o w n . ..Ass’t Cash.

MINNESOTA.

C a p it a l ,

S 2 .0 0 0 .0 0 0

D
S

urplus

& P

r o f it s ,

S i, 5 8 8 ,7 1 4

e p o s it s ,

$ 1 3 ,5 7 1 ,5 7 7 .2 3

We would be Glad to Hear from Banks who have Business in this Territory but no Direct Correspondent in

MINNEAPOLIS
A new bank is to be opened at Palermo, N. D.
P. B. Dirks and others have opened banks in the
new towns o f Presho, Kennebec and Reliance, S. D.
The Northwestern National Bank o f Minneapolis
has been made a correspondent for the First Na­
tional Bank of West Minneapolis.
The First National Bank o f Towner, N. D., opened for business November 1st with a capital of
$25,000. The officers are: D. N. Tallman, presi­
dent; S. B. Quale, vice president; J. N. Kuhl,
cashier and Fred Larson, assistant cashier.
The death o f W. P. St. John, president of the
State Bank o f Heron Lake, was a great shock to his
many banking friends. M L St. John was only 47
years o f age. It is probable that his brother, B. P.
St. John, will succeed to the presidency.
The four leading banks in Sioux Falls all show
a good growth. The Minnehaha National Bank, the
Sioux Falls National Bank, the State Banking and
Trust Company and the Sioux Falls Savings Bank.
They show an increase o f deposits in eleven months
of over a quarter of a million dollars.
Alfred A. Buck, former assistant cashier of the
Mapleton State bank, charged with embezzling $17,000, pleaded guilty to a charge o f grand larceny and
has been sentenced to six years and four months in
the penitentiary.
Ed. Siefken, president of the State Bank, of Rockham, S. D., writes: “ I wish to announce to the pub­
lic, patrons and associates, and liberal patronizers of
the State Bank o f Rockham, that on the morning of
October 29, 1905, a gang o f highway robbers, cut
throats, and characters o f the every worst kind en­
tered the front door o f the above bank and utterly
destroyed property o f vault and safe and took what
cash they could get. I wish to announce to the pub
lie that the hank is insured in a good reputable in­
surance company and that the hank or public will
not lose anything. W e are still doing business at
the same place.”

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

M IN N E S O T A N E W S A N D N O T E S . 1
There is talk of starting a new bank at Nerstrand.
A. 0 . Davison has closed the bank at Wylie,
The Lumberman’s Bank at Ripple has opened for
business.
The People Bank building at Minneapolis is to be
remodeled.
The Bank of Canton was sold to the Winneshiek
County State bank of Decorah, Iowa.
O. M. Severtson o f Crookston will be cashier of
the new bank at Viking.
The Citizens State bank has moved into its new
bank building at Houston.
The Farmers & Merchants State Bank of Cokato
has moved into its new building.
The First State Bank of Lancaster is moving into
its new building. Mir. Dennis is cashier.
C. F. Klein resigned as cashier of the State Bank
of Darfur and is succeeded by J. F.Swenson.
The Bank of Pequot has opened for business.
Capital $ 10, 000. Mr. Buttolph is president.
The Union State bank o f Minneapolis has opened
for business with $50,000 capital. L. Jaeger will
be cashier.
The Farmers National Bank of Minneasota Lake
has chosen the First National Bank of Chicago as
reserve agent.
Articles o f incorporation have been filed for the
Glenham State B'ank at Glenham, Walworth county,
with a capital of $5,000.
The Security State bank o f Shakopee, has been
authorized to begin business. Capital $25,000. H.
E. Dell will be cashier.
The Hanover National hank of Ntew York and
the First National bank o f Minneapolis have been
made reserve agents for the First National bank of
Foley.

December, 1905.

l/fr.

THE

N O RTH W ESTERN

BAN KER.

29

1 y \ a ^w v U ' e X £. '\w 4 )

\

THE

Northwestern National Bank
M I N N E A P O L I S , M IN N .
1 8 7 2 -1 9 0 4

Capital, $ 1 ,0 0 0 ,0 0 0
Surplus and Profits, $ 8 0 5 ,5 5 4
Deposits, $ 1 0 ,7 1 6 ,4 9 4 .3 0
O F F IC E R S :
W m , H. D t jn w o od y , P re s.
J o se p h C h a p m a n , J r . , Cash.
M . B . K o on , Vice-Pres.
F r a n k E. H o l t o n , A ss’ t Cash.
E d w a r d W . D e c k e r , Vice-Pres. C h a s . W . F a r w e l l , A ss’t Cash.

An Average of over 8% Annual Dividends Paid to Stockholders
Since Organization in 1872. Dividends Paid Since Organization
$2,310,000.
If you contemplate making a change in your Banking Connec­
tions, or think of opening a new account, we would be pleased to
confer with you in person or by letter.

The Mechanics American National Bank of St.
Louis, Mo., has been made a correspondent of the
American National Bank at St. Paul.
The People’s State Bank and the First State
Bank o f Sauk Center, have consolidated under the
former name. The bank’s capital will be $23,000.
The First State Bank o f Bovey has been author­
ized to begin business. Capital $ 10, 000. T. P.
Sheldon is president and D. M. Vermilyea is cashier.
The Seaboard National Bank o f New York and
the Bankers National Bank o f Chicago have been ap­
proved as reserve agents for the First National Bank
o f Adrian.
The state superintendent of banks has authorized
the German-American State Bank at Howard Lake;
capital stock $15,000. Mart Fleener is president
and G. D 1. Luhman cashier.
It was unofficially announced recently that the
Commercial Trust & Savings Bank o f New Orleans
will absorb the Germania Savings Bank, on which
there was recently an unwarranted run.
The Citizeis State Bank of Montgomery has been
licensed by the state superintendent o f banks. The
institution has a capital o f $15,000. LI. E. Westerman is president and Frank P. O’Malley cashier.
Theo. Garceau, for many years cashier of the
First National Bank o f Red Lake Falls, has bought
out the interest o f James I. Wyer, president of the
institution. Mr. Garceau thus secures a controlling
interest in the bank.
Thomas B. Clement, president of the First N a­
tional Bank of Faribault, convicted o f embezzling
the funds o f the bank and causing its failure, was
recently sentenced to eight years in prison. A new
trial has been asked for.
The Hennepin County Savings Bank of Minne*
apolis will move into the Phoenix Bldg, as soon as
vacated by the First National Bank. A new savings

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

bank will be organized and will open in the building
now occupied by the former.
Carl II. Bennett has been elected vice president of
the National Farmers Bank of Owatonna in place
of B. S. Cook, and A. C. Searl, second vice presi­
dent; G. B. Bennett becomes cashier, in place of
Carl II. Bennett ; and Harry D. Tompkins, assistant
cashier, in place of G. B. Bennett.
The Mahnomen State Bank has been given its
charter to do business by the state bank examiner,
P. M. Ilerst. The bank is a reorganization of a pri­
vate bank owned by the same parties. It has a cap­
ital of $ 10, 000. Henry Birkett is president, E. S.
Lee, vice president and L. G. Sanders cashier.
The depositors’ committee of the defunct First
National. Bank of Faribault met recently to consider
the proposition of a settlement for $ 100,000 offered
by Directors Grant, Batchelder and Burkham. The
committee disagreed after a long and exciting debate.
Acceptance means but 65 per cent to the depositors
and they will continue their suit, expecting to get
70 per cent.
M.
J. Borlang, who for a good many years has
conducted a private bank under the name of the
Bank of Kenyon, has taken the first steps toward
have a capital of $25,000, and be known as the
Farmers State Bank of Ilenyon, occupying quarters
in the building erected by M|r. Borlang two years
ago. The officers are as follows: President B. J.
Borlang; vice president, M. T. Gunderson; cashier,
A. B. Borlang.
The Swedish-American Savings Bank o f Minne­
apolis was recently authorized to begin business by
the state superintendent of banks. The new bank
has been in process of organization for some time
and the list of incorporators includes the following:
Niles O. Werner, Charles S. Hurlbert, Charles S.
Amsden, Charles A. Smith, William S. Amsden, C.
C. Wyman, James A. Latta, Charles J. Johnson,

THE

30

N O RTH W ESTERN

t

h

e

BANKER

December, 1905.

:

United State«» National Baink of Omaha
OFFICERS :

M. T. Barlow , President
G. W . W a t t l e s , Vice-President
V . B. Caldwell, Vice-President
A . M i l l a r d , Cashier
W. E. R h o a d e s , Assistant Cashier
L. M. T a l m a g e , Assistant Cashier
G. E. H a v e r s t i c k , Assistant Cashier

STATEMENT NO VEMBER 9, 1905.

RESOURCES.

L IA B IL IT IE S .

Loans and discounts .............. $ 5,680,006. 52
Overdrafts.................................
14, 500.15
United States b on d s...............
360,000.00
Other bonds . .......................
144,750.00
Bank building...........................
200,000.00
Cash and exchange.................. 3,181,559.27

Capital stock............................ $ 600,000.00
Surplus and profits.................
230,614.71
Circulation...............................
250,000.00
Deposits—
Individual..$ 4,696,186.60
Banks........... 3,804,014.57— 8,500,201.23

Total......................... ..........$ 9,580,815.94

Additional Business Connections Desired.

John Lind, Andreas Ueland, B. F. Nelson, Edgar
L. Mattson and Charles S. Pillsbury.
A change in the local management of the First
National Bank o f Red W ing has been announced.
J. Flenry Cross o f Amhoy has purchased a block of
the stock owned by H. H. Buck, first vice-president,
who, together with S. H. Lockin has conducted the
management o f the bank since it was bought of Mr.
Wellcome o f Minneapolis and associates. Mr. Buck
still retains an interest in the hank and will remain
in his present position, probably until the first of
the year, when Mr. Cross expects to move to Red
Wing.
•

NEBRASKA NEW S AN D NOTES.
The State Bank of Table Rock has renewed its
Articles o f Incorporation for another twenty years.
Frank EQorts lias been elected cashier of the First
National Bank o f Elgin in place of W. P. Logan.
C. J. Cannon has been elected cashier of the Cit­
izens National Bank of Tecumseh, in place of G. W.
ITalsted.
The Farmers and Merchants B’ank building of
Cedar Bluffs has remodeled and handsomely decor­
ated its interior.
The Valley National Bank of Des Moines has
been approved as a reserve for the South Omaha
National Bank.
The First National Bank o f Lincoln has been
approved as a reserve agent for the Neligh Nation­
al Bank of Neligh.

Total..............................$ 9,580,815.94

Prompt and Satisfactory Service Given

Fremont banks as $241,266, an increase of about
42 per cent over the corresponding period of last
year.
Secretary Royse of the state banking board has
issued a charter to the Farmers State Bank of Hadar, Pierce county. The capital stock is $5,000.
The Bank of Denton has been incorporated and
chartered by L. J. Dunn, A. S. Tibbets, Beman C.
Fox and E. G. Dey, The paid up capital stock is
$5,000.
Robbers recently broke into the State Bank of
Chapman and blew the safe open with nitro-glycerine. They escaped with an amount of paper money
estimated at $1,300.
The Martell State Bank has been incorporated
by R. E. Moore, John II. Moore and W. H. II.
Moore, all of Lincoln. The bank has a paid up cap­
ital stock o f $5,000.
Articles of incorporation have been filed with
the secretary of state for the Fidelity Bank at
O’Neill. E. E. Halstead and D. B. Grosvenor are
the incorporators. Capital $25,000,
In one year’s time the deposits in the three natioanl banks of Hastings increased over half a mil­
lion dollars, the total at the time the statements were
drawn, November 9, being $2,690,172.
The State Bank of Jansen has filed articles of
incorporation with Secretary of State Galusha. The
paid up capital stock is $ 12,000 and the incorpora­
tors are Charles W. Knapp and Jacob Knapp.

The new statement of the Bank of Bromfield
shows $86,060 in loans and discounts, individual
A.
C. Grace has resigned his position as assistant deposits, $58,823; demand certificates of deposit,
cashier o f the Farmers State Bank o f Wausa. He
$31,641; and time certificates o f deposit, $35,345.
will he succeeded by Win. B'erridge.
IT. R. and R. E. Neitzel have organized the Bank
The report o f the clearing house association for
of Waterloo at Waterloo. The new bank is backed
the week ending November 18 gives the clearings of
entirely by local capitalists. R. E. Neitzel will be

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

December, 1905.

the

THE

N O RTH W ESTERN

31

M e r c h a n t s N a t io n a l B a n k ....
S775

LUTHBR DRAKE,
President.
FRANK T. HAMILTON,
Vice-President,

OT O M AH A, N E B R A SK A .
C A P IT A L , 8 5 0 0 , 0 0 0
SURPLUS, 8 1 0 0 ,0 0 0

F. P. HAMILTON,
Asst, Cashier.
B. H. MEILE,
Asst. Cashier.

IT. S. D E P O S IT O R Y .

cashier. The Neitzels have for a number of years
conducted the Bank o f Murdock and expect to re­
tain control o f that institution.
The rooms of the First National Bank of W il­
cox have been finished and the new fixtures installed.
The furniture is new and o f fine quality. The bank
is now one of the best equipped hanks to be found
in any town this size.
The First National Bank o f Ohiowa has been or­
ganized to succeed the Bank o f Ohiowa. Capital,
$25,000. R-. A. Harvey, W . B. Limerick, S. H.
Abbott, Mrs. W. B. Limerick, R, L. Clemons and
L. J. Dunn are the incorporators.
The State Bank o f Exeter, for several years <has
filed its reports within twenty-four hours of the is­
suance o f a call. The Nebraska call for the present
quarter will include 565 state banks under the juris­
diction o f the state banking board.
E. F. Folda, president of the Bank of Rogers,
was in Omaha recently and purchased five man­
ganese safes o f the latest construction, for the five
Folda banks. These safes cost at retail about $2,500
each. They were purchased of J. J. Deright &
Co.
The Columbus State Bank of Columbus have
moved into their new quarters. The new hanking
house is richly finished. The metal fixtures are fin­
ished to correspond with olive green wood work. A
system o f safety deposit boxes will be installed and
the latest improved vault fixtures and protective ap­
paratus makes it proof against fire and robbery.
Bernard McGreevey, former president of the de­
funct Elkhorn Valley bank of O’Neill, Neb., who
fled to Mexico at the time of the failure of that
bank last spring and who was brought back and sub­
sequently released on bail, has again been placed
in jail. This action was taken by County Attorney
Mullen on the ground that he was afraid McGreevey
would attempt to evade the law by again fleeing from
the country.
i ,

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

BAN KER.

D E P O S IT S , 8 4 ,9 4 3 ,2 2 7
A C C O U N T S S O L IC IT E D

O e U m Annual Dividend Company
th« Union Central Cite Insurance Co.
Cincinnati, Ohio
total first mortgage Coans on Real estate
A s per Annual Statement, December SI, 190U
Number of Loans in Force, 25,626.
Total Amount of Loans................ ...........
$ 3 5 ,44 2 ,3 3 5 .23
Sworn Appraisement Securing Sam eValue of Lands......................................*112,198,406
Value of Buildings (additional security) $ 18,974,720
Total Amountof Security...........................
$ 1 3 1 ,1 7 3 ,1 2 6 .0 0

mortgage Coans made

in 1904

Number Negotiated, 4,829.
Total Amount L oan ed...............................
$
8 ,3 01 ,7 4 3 .9 9
Sworn Appraisement Securing Sam eValue of Lands.......................................$24,133,327
Value of Buildings (additional security)* 4,060,831
Total Amount of Security...........................
$ 2 8 ,1 9 4 1 5 8 .0 0

OHIO INSURANCE LAWS PREVENT INSURANCE
GRAFTING:______________________________________________
“ The superintendant shall, ANNUALLY, make, or cause
to be made, an examination of the assets of every life insur­
ance jconqjjmy^JDRGAULZEip^T^^
THIS STATE (Ohio), and ascertain if the same are invested
n the manner prescribed by law at the date each investment
was made, and also if the last preceding annual statement
of assets and unpaid death claims was correct.”
Notice that under this law no Ohio Life Insurance Com­
pany can buy or loan on fluctuating securities of any nature,
nor can they own stock in any Banks or Trust Companies.
These restrictions absolutely eliminate any possibility of
such conditions as have been shown to exist in some life
insurance companies._______________________________________
Bankers everywhere in Iowa wanted read the above and
communicate with the undersigned for terms to local agents.W. H. W H ITE, General Agent,
440 Good Block.

'.f.

ii

a

>_

Des Moines, Iowa.

THE

32

N O RTH W ESTERN

December 1905.

BAN KER.

.

I. H. SEARS, President
H. P*. PETERSEN, Vice-President
J. H. HASS, Cashier
------THR

—

Scott County Savings Bank
D A V E N P O R T ,

IO W A

Capital, Surplus and Undivided Profits,

S 4 2 9 ,1 4 4 .2 9
Deposits,

S 3 .7 4 4 ,4 7 1 .8 6

The National BanK of

Com m erce
IN ST. LOUIS
Capital, Surplus, Profits,
Deposits, -

$16,000,000
$47,000,000

#
T w o P e r C e n t. In te re st o n
B a n k e r s ’ B a la n c e s
T h r e e P e r C e n t . I n t e r e s t o n T i m e D e p o s it s

Every Iowa bank not now a member of the State
Association should remit five dollars to the treasurer,
J. T. Brooks, Hedrick, and “ get in.” A s a matter
of profit and loss in money you can’ t afford to stay
out.

IO W A

N E W S A N D NOTES.

The Lohrville Savings Bank has opened for busi­
ness.
The Webb and Fostoria banks have been organ­
ized under the state laws.
The Farmers National Bank of Webster City has
had its charter extended.
E. E. Robinson succeeds J. Carmody as cashier of
the Rippey Savings Bank.
The building o f the XJrbana Savings Bank was re­
cently destroyed by fire.
The Bank o f Callaway has increased its capital
stock from $5,000 to $7,000.
Fritz Frizson is now assistant cashier in the First
National Bank o f Randolph.
The Fidelity Bank o f O’ Neill with a paid up cap­
ital o f $25,000, has been chartered.
The First National Bank o f Loomis is now com­
fortably established in its new building.
H . H. L'exvold has accepted a position as assist­
ant cashier in the State Bank o f Radcliffe.
The Bank o f Gering has been converted into the
First National Bank o f Gering. Capital $30,000.

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

The First National Bank of Red Oak has put in
58 steel safety deposit boxes for use of its customers.
The First National Bank of Harlan is increasing
its outstanding circulation from $12,500 to $25,000.
H. C. Frost, formerly assistant cashier in the
bank at Dixon has resigned and gone to Jasper, Mo.
The directors of the Lindsay State Bank recently
held a meeting and elected Oscar A. Johnson as
cashier.
M.
D. Gibbs has been elected president o f the
First National Bank of Hull, in place of H . H.
Wyatt.
H. C. Hutterschied has been elected cashier of the
First National Bank of C'orwith in place of H. E.
Paul.
The Olds Savings Bank shows a prosperity state­
ment, The bank is doing a very satisfactory busi­
ness.
The Exchange National Bank of Leon has chosen
as a reserve agent the Iowa National Bank of Des
Moines.
L. B. Wilson has been elected president of the
First National Bank of Lenox in place o f Phil
Ridgeway.
The North English Savings Bank has undivided
profits of about fifty per cent greater than its capital
of $26,000
It is reported that the Strahn & Christy private
bank at Malvern will shortly be incorporated as a
national hank.
W. N. Jordan, formerly cashier of the Bank of
Baxter, was recently given a full pardon by Gov­
ernor Cummins.

December, 1905.

T

THE

N O RTH W ESTERN

BAN KER.

/

/

33

h e D ES M O I N E S N A T I O N A L B A N K
U. S. D E P O SITO R Y -------------------- DES MOINES, IOWA

STATEM ENT OF CONDITION, NOV. 9, 1905.

ARTHUR REYNOLDS, President
JOHN H. BLAIR, Vice-President
A. J. ZWART, Cashier
--------O —

--------

T h e Des n o in e s N ational Barth Solic­
its a S h a re o f Y our Business Upon the
Basis o f Sound and P rogressive B a n k ­
ing, Liberal and A c c u ra te T re a tm e n t
CORRESPONDENCE SOLICITED

RESOURCES
Loans,
.
.
.
.
.
.
<2,091,834.21
Overdrafts
1,904.99
U. S. Bonds,
.
.
.
.
.
150,000.00
Premiums,
.
.
.
.
.
.
6,500 00
Banking House. .
.
.
.
.
65,000.00
Stocks and Securities, .
.
.
.
.
.
11,901.74
Cash, and Due from Banks and U. S. Treasurer, .
.
7a7,985.80
Total............................................................................................ $3,092,106.77
L IA B IL IT IE S
Capital,
.
................................................
Surplus, .
.
.
.
.
.
.
.
Undivided Profits,
.
.
.
.
.
.
Circulation,
.
.
.
.
.
.
.
Deposits,
.
.
.
.
.
.
.
.
Total.........................................

Miiss Roxy Parker and Carl A. Thompson were
married recently.
The groom is cashier of the
bank at Yarmouth.
The Valley National Bank of Des Moines has
been approved as a reserve agent for the First Na­
tional Bank o f Stuart.
L. L. Beinhauer, assistant cashier in the Farmers
State bank at Dows, has been married to Miss Mar­
tha Oleson o f Clarion.
The Mechanics Savings Bank of Des Moines shows
deposits o f $252,000. N ot half bad for an eightteen months stripling.
The Citizens National Bank o f Des Moines has
been made a correspondent o f the Citizens National
Bank o f Guthrie Center.
The Commercial National Bank o f Chicago has
been approved as a reserve agent for the First Na­
tional Bank o f Norway.
The Commercial National Bank o f Chicago has
been made a reserve agent for the Merchants N a­
tional Bank of Burlington.
The Merchants National Bank o f Cedar Rapids
has been approved as reserve agent for the First
National Bank of Odebolt.
C. L. H uff has resigned his position in the State
Savings Bank at Logan and will devote his time
to surveying and engineering.
Frederick Voorliees, assistant cashier of the Clay
County Bank at Edgar, was recently married to Miss
Carrie Taylor of the same city.
Geo. Phillips has resigned his position in the
State Bank at McCallsburg and returned to Zearing to look after his business interests.
The Leshara State Bank has bought a lot in the
new town of Leshara preparatory to beginning the

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

,

$300,000.00
60,000.00
11,932.91
125,000.00
2,595,173.86
$3,092,106.77

erection of a building to hold the new financial insti­
tution.
The last statement of the Emerson State Bank
shows loans and discounts aggregating $132,185,
and deposits amounting to $157,102.
R. L. Adams, president of the Burt County State
Bank of Tekamah, has resigned and H. S. M. Spielman was elected to fill the vacancy.
C. L. Lewis, assistant cashier of the First N a­
tional Bank o f C'orwith, was married recently to
Miss Pearl Gillette of Manhattan, Kan.
The statement of the condition of the First Na­
tional bank of Nevada at the close of business on
November 9 shows deposits of $337,000.
The recent report of the First National Bank of
Stanton shows loans and discounts amounting to
$77,664 and deposits aggregating $98,811.
J. Dudley Johnson, cashier of the Citizens N a­
tional Bank of Seymour, was recently married at
Oskaloosa to Miss Ella Christie of that city.
The Dickinson County State Bank of Spirit Lake
has been converted into the Dickinson County N a­
tional Bank of Spirit Lake. Capital $50,000.
The Osage National Bank of Osage has bought
the Agen building in Superior, Wis. It is rumored
that the new owners will open a new bank there.
The Commercial National of Council Bluffs
shows deposits of close to half a million and surplus
and profits of $14,000. C. E. Price is cashier.
The increase in the deposits of the Iowa State
Bank at Mt. A yr since the last statement was issued,
covering a period o f seventy-six days, was $31,181.The German National Bank of Hastings has com­
pleted the remodeling of its banking room and has
removed back to its former location.

T H E N O RTH W ESTERN B A N K E R .

34

The

Chamberlain

.

Des Moines, Iowa

December 1905.

/

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

JJ g -------- ■■

-

CENTURY

T H E N E W E S T ¿3 U R O E A N L A N T H E B E S T
T H E O N L Y F I R E P R O O F H O T E L in I O W A

SAVINGS

BANK

Southwest Cor. P ifth and
W a ln u t Sts., Clapp lock

D E S MOINES, IOWH

gh pitrl

, $100,000.00

This Bank Offers Every Facility
Consistent With Safe Banking
C O R R E S P O N D E N C E or a P E R S O N A L
C A L L is R E S P E C T F U L L Y I N V IT E D

OFFICERS

W . G. H a r v i s o n , P res.
E. R . C l a p p , V ice-P res.
H. M. W h i n e r y , Cashier
DIRECTORS

E. R. Clapp
John B. Sullivan P. C. Kenyon
R. H. MacMullan W. G. Harvison J. B. Uhl
H. E. Teachout J. W. Rudebeck L. E. Harbach

P o sitiv e ly F irep roof; Construction-Stone,Brick and Steel;
No Wood, except doors and frames; All Stairways Marble and
Iron; all Moors Tile and Cement; Perfect Sanitary Plumbing.
15j Rooms, 75 with Bath. Rates, $1.50 to $3.50 per day. Cafe
prices reasonable and service excellent.
W. L. BROWN

Prop, and Mgr.

Scott W. Whitehead, assistant cashier o f the First
National Bank o f Linn Grove, has accepted a simi­
lar position with the State Security Bank at Sioux
Bapids.
A report that B'. A. Plummer, one o f Forest
City’s most able bankers, would move to Mason City,
engage in financial matters o f that city is pronounc­
ed unfounded.
The Farmers State bank o f Boxholm o f which
J. Id. Roberts o f Boone is president, has increased
its capital from $10,000 to $18,500. A Henderson
is the cashier.
The Bank o f Pauline o f the town o f Pauline,
Adams county, has incorporated and received a char­
ter from the state banking hoard. It has a capital
stock o f $1,500.
The Citizens State Bank o f Arapahoe, with a paid
np capital o f $10,000, has been chartered. The in­
corporators are E. S. Kirtland, W. A. Banwell, Jr.,
and R. S. Hendricks.

elevator. There has been considerable of a demand
for a bank there for sime time.
The consloidated hank statement issued by the
Des Moines Clearing House association, shows a
total o f $22,047,070 deposits, $18,076,951 loans,
$5,537,949 cash on hand, and $714,563 surplus.
The First State Bank of Fredericksburg has filed
articles o f incorporation with Secretary o f State W.
B. Martin. It was capitalized at $25,000, and L. A.
Padden is president and Guy M. Padden cashier.
The Merchants National of Cedar Rapids shows
a gain in deposits since January 11, 1905 o f $565,000. The profits of the hank also show good gains,
being now three-fourths as much as the capital stock.
The state banking department has issued a charter
to the Bank o f Lewellyn, with a capital stock of
$5,000. The incorporators are J. W. Welm, presi­
dent; C. H. Burk, cashier, and J. H. Welm, assist­
ant cashier.

The
N.
E. Isaacs has been elected cashier of the First corah
National Bank o f Thompson in place o f F. W.
ment.
Thompson, and E. R. Alquist assistant cashier in
tution
place o f N. E. Isaacs.
ident.

The Frasier Enterprise editor thinks that that
town is in need o f a hank, lumber yard and grain

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

deposits of the Citizens Savings Bank of De­
increased $46,000, since the August state­
The Citizens Savings is a prosperous insti­
and C. J. Curtin— one o f the boys— is pres­

The Northwestern National Bank, o f Sioux City,
expected to get into their new building by October

December, 1905.

T H E N O RTH W ESTERN B A N K E R .

35

Statem ent of the Condition of

SECURITY

£be Cefcar IRapifcs IRational Bank of flowa
Comptroller’s Call, Novem ber 9, 1 90 5 .
RESO URCES:

SAYINGS
BANK

Cedaf Rapids

Loans and Discounts..........................- ..................- ........................... $ 1,731,543.60

Overdrafts......................... - ........................................................

2,126.98

U. S.Bonds, at par............................. - ..............................................
Other Bonds.............................................................................................

125,600.00
421,761.55

Cash, Due from Banks and U. S. T re a s u r e r......... , ................

933,921.78

Real Estate (bank site)..............................................................

Capital and Surplus,
Deposits,
-

$ 150,000.00
1,388,163 30

Does no Commercial Banking, but offers for Iowa business the services
of a careful, competent and exclusive Savings Bank, paying interest on
deposits at the rate of

32,000.00

$ 3,240,344.91
L IA B IL IT IE S :
Capital.................................................................................. - .............. .

Surplus, andUndivided Profits, n et.........................................
Received for Taxes, Unearned Discount and Interest on
C. D’s ..................................................................................................
Circulating N o te s..................................................................................
Deposits____________________________ __________________________

t

100,000.00

119,344.03

14,000.00
100,000.00
2,913,000.88

$ 3,246,344.91

4

p er

C ent

C. F. VAN V E C H T E N , P re s id e n t
E. M . S C O T T , C a s h ie r

1 ; now they will be satisfied if they shall be able
to move in by the anniversary o f the fire. December
,23.
Announcement is made that A. M. Burnside, dep­
uty auditor for Story county and formerly auditor,
will give up bis work in the court house in the near
future and take a position with the Boone National,
bank.

Deposits September 28, 1895............................ $ 426,461.82
Deposits September 9, 1903........................— 2,038,701.29
Deposits September 6, 1904............................. 2,125,344.17
U N ITED STATES DEPOSITORY.

and F. Ml Lee are the organizers. It succeeds the
GR^man-American Bank o f Renwick.
’r. J. B. Crain is the party to whom E. IL. Luika
sold his interest in the Meadow Grove State
Ba
of Meadow Grove, $25,000 was the considera\ n. Dr. Crain has taken the position in the
ban! \s cashier in an active capacity.

The Orient Savings Bank has been organized with
officers as follow s: President, G. L. Shreves, vice
president, Ed. H. Shreves; cashier, Rev. A. Shreves.
Capital stock $ 10, 000.

Ge0-Lo<7 w. Swords, a prominent republican attor­
ney of Iowa City, at present receiver for the defunct
First National Bank at Grinnell, has re­
ceived word of his appointment to take charge of the
Minot National Bank at Minot, N. D.

The Union Savings Bank of Redding has been
incorporated. A. M. Schancke is president; Bert
Amick, vice president, and W. G. Schancke cashier.
It will absorb both the Redding Bank and the Peo­
ples Bank o f that place.

At the annual meeting of the directors of the Sheldahl Savings Bank it was decided to begin at once
the remodeling of the hank building as projected for
some time. The entire front is to be removed and a
handsome plate glass front will be put in.

Articles o f incorporation have been filed by the
Commercial Savings Bank, of Cedar Rapids, capital
$50,000. G. H, Chandler is president, W. 0. LaTonrette vice president and James L. Bever, Jr.,
cashier.

The statement of the First National Bank of Wat­
erloo at the close of business November 9, 1905,
shows deposits on that date of over $ 1, 000,000 and
total assets of over $1,380,000, of which over $430,000 is cash on hand and in banks of reserve.

That outside people have faith in the Davenport
banks was shown recently when a traveling salesman
was found dead at Guttenberg, Iowa, with a deposit
slip showing that he had a large sum in the German
Savings Bank o f that city.

E. J. Etsgate, cashier of the Farmers and Mer­
chants State Bank, of Marion, has just returned
from his annual trip to Greeley, Neb., where inspect­
ed the business of the Greeley State Bank in which
he is interested. Mr. Esgate is very enthusiastic
over the business conditions prevailing in Nebraska.

E d Uehling has resigned his position with the
Dodge County Bank as assistant cashier, and is suc­
ceeded by C'has. Lyman. Mr. Uehling will he the
cashier o f the Farmers National Bank to be started
at the new town o f Uehling.
M|r. Trimborn, formerly a banker o f Oakland,
stated recently that he intended to look over the sit­
uation in Omaha with a view o f establishing a pri­
vate bank there and o f giving up his interest in the
banking business at Oakland.
The First National Bank o f Renwick has been
organized. Capital $25,000. W. M. Hoffman, II.
B. Cole, Ella M. Estes, J. W. Young, F. J. Weston

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

The First National Bank of Hayes Center has
been incorporated. Capital $25,000. It succeeds
the Farmers State Bank of Hayes Center. John
B. Cruzen, V. Franklin, A. C. Ebert, C. W. Cruzen,
S. C. Cruzen and S. M. Cruzen are the incorpor­
ators.
The run which began November 24 on the State
Central Savings Bank of Keokuk, stopped the next
morning almost entirely, after the arrival o f four
wagon loads o f silver dillars from Chicago and St.
Louis. The run was probably caused by a state­
ment the president’s health was failing, the word
“ failing” being repeated to the depositors.

The Farmers Bank o f West Point has been en­
tirely reorganized. At a meeting of the stockholders
held recently A. J. Langer was elected president.
The capital stock has been increased to $15,000.
The Page County State Bank has been incorpor­
ated at Clarinda. Capital $100,000. The officers
will be C. Linderman, president; L. W. Lewis, vicepresident ; J. A . .Mjiller, cashier; W. B. Shoemaker,
assistant cashier.
It succeeds the Page County
B'ank.
Among the owners of 11,000 acres o f land in L y­
man county, South Dakota, are C. D. Mills, the Clin­
ton banker, H. R. Dennis, the Soo Fals, S. D.,
banker, and Chas Slade, the Rock Rapids banker,
these and others constitute the Lyman Land and In­
vestment Company.
We are in receipts o f a copy o f the Register of
Marion with a statement of the Farmers and Mer­
chants Bank of which E. J. Estgate is^cashier. It
shows a capital stock o f $60,000, surplus and undi­
vided profits o f $6,433, loans and discounts $291,202, and deposits o f $305,115.
In the November issue was given an item in re­
gard to the dividends of the First National Bank
o f Grinnell that was incorrect. Receiver Swords has
already paid to the creditors 65 per cent and there is

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

still more to follow. Receiver Swords is getting
more out of the bank than was expected.
G. W. Wallace, one of DeW itt’ s most prominent
business men, died on November 9. Lie conducted
a large dry goods establishment, was a director of
the First National Bank, president o f the Farmers
and Citizens Savings Bank and was connected with
several other business enterprises of his city.
♦
A. W. Winden, formerly cashier of the First Na­
tional Bank o f Buffalo Center, has moved to Lake
Mills and assumed his duties as assistant cashier.of
the First National Bank of that place. H e will de­
vote part of his time to the Lake Mills Land and
Loan Company.
M. LI. Welton and son have purchased the Adair
Savings Bank of Adair, having already taken pos­
session. M. H . Welton is one of the directors in
the Wiota Savings Bank. ILis son Roy, who for
a time will be the cashier, was employed in the W i­
ota bank.
Cashier W. H. Woods of the First National bank
o f Iowa Falls has been re-elected treasurer of St.
Elmo Commandery No. 48 o f that city and enjoys
the distinction of having been the treasurer of the
organization for twenty years and ever since its
inception.

December, 1905.

THE

N O RTH W ESTERN

BANKER.

37

TH E

P eo p les T rust

& S a v in g s

B an k o f C l in t o n

Statement at the Close o f Business, November 8, 1905

L iabilities

A s s e ts

Capital........................................................................... $ 800,000.00
Surplus..........................................................................
170,000.00
Undivided profits less tax and expense......................
73,216.04
Deposits.......................................................................... 4,588,828.75

Loans.............................................................................. $ 4.553,870.41
Gash and St. exchange................. ........ ..................
578,174.38
* 5,131,044.79

I 5,131,044.79

Solicits profitable and conservative business and promises its customers liberal accommodations at all times.
GARRETT E. L,AMB, President.
CHAS. B. .MILLS, Cashier.

CHAS. F. ALDEN, Vice-President.
WARD W. COOK, Ass’t Cashier.

The attorney has received from Judge Smith Mcpherson of the United States district court of the
southern district of Iowa, the certificate announcing
that the Dixon bank at Dixon, which was adjudged
bankrupt, and Martin Beuthien are discharged from
the action.
Harlan is excited over the unearthing of $6,400 in
mouldy bills of various denominations which bear
evidence of having been buried many years. The
bills when brought to the bank were neatly done up
in packs containing $500 each, the outside of which
were covered with mould. The bills, however, will
be fit for circulation after a good scrubbing.
J. Wilson, receiver of the Eirst National Bank at
Storm Lake, has given notice to creditors of a 20
per cent dividend. It has been nearly two years
since the bank closed and this is the first dividend
to be declared and may be the last, showing the ex­
tent to which Brown, now serving a five-year sen­
tence, looted the institution.
The Sheldon National .Bank in business since
September first, shows by the November 9th state­
ment $147,000 in deposits and surplus, and profits
of $3,300, the bank succeeded the Security Savings
Bank of that city. The business has nearly doubled
in the past year, they report; “ Our farmers have a
bumper crop and are consequently happy.”
L. W. McLennan and the other officers of the Cit­
izens Bank of Afton, who recently started a branch
bank at Arispe, to take the place of the Savings Bank
there which recently went out of business, are well
pleased with the showing which the new bank is mak­
ing under the management of Bob Barnum. A l­
ready $ 10,000 has been received on deposit.
D. M. Carpenter, assignee of E. E. Snyder, the
defaulting Olin banker, has paid another 10 per
cent to the creditors. l i e has on hand $18,105.60,
o f which amount $415.83 is interest to November
due from banks where the funds have been depos­
ited. This will make 20 cents on the dollar, which

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

has been paid and it is thought that ot the final set­
tlement another dividend of 5 per cent .will be paid,
which will make a total of 25 cents on the dollar.
Mrs. S. A. Jaroleman and Chas. Jaroleman have
bought out the interests held by S. T. Goodman
and Ben Richards in the Farmers Savings bank
at Rhodes. Mr. Richards has resigned the cashiership of the bank to take effect about December 1
and will remove to Tonkawa, Okla. J. L. Jarole­
man of Roosevelt, Okla., is slated as the incoming
cashier.
Announcement has been made of the merging of
the Citizens National and State Banks of Cedar
Falls at the Citizens Savings Bank, effective Decem­
ber 1. The new institution has a paid up capital
o f $100,000. The officers of the new bank are as
follows: President, C. A. W ise; vice-president, II.
N. Silliman, cashier, O. H. Leonard; assistant cash­
ier, W illiam C. Nuhn.
A t the annual meeting of the stockholders of the
Worth County State Bank of Northwood, Hon. L.
Dwelle, who has been president of the bank for many
years, resigned, and H. T. Toye, the cashier, was
made president. Other officers were elected for the
ensuing year as follow s: Vice President, C. H.
Beckett; cashier, T. S. H anson; assistant cashier,
C. H. Dwelle.
The new safe of the Citizens’ Savings Bank, of
Williamsburg, arrived and is now in its temporary
quarters in the building adjoining the new bank.
The Citizens’ Savings Bank is now open for busi­
ness. E. D. Evans the cashier of the bank, needs
no introduction. Twenty years in the banking busi­
ness fortifies him with the knowledge of financial
matters so requisite to success.
The statement of the First National Bank of
Shenandoah for November shows the capital and
surplus account of the bank now stands at slightly
more than One Hundred and Twenty Thousand
Dollars, which is the largest ever; and total deposits

V/
\

38

THE

7/ c
r e

a j l o a

N O RTH W ESTERN

¿ r in K ^ g

^

K Ü C Ö «!

December, 1905.

BANKER

=

Packers National Bank

The Union Stock
S o u th
O m aha,
N eb .

Yards National
Bank

OF SOUTH O M A H A , NEB.
C apital, $

1 5 0 ,0 0 0

.
S u rp lu s, $ 7 5 ,0 0 0 .
D eposits, $ 1 ,5 4 5 , 6 2 9
OFFICERS:

C a p ita l
S u rp lu s and P ro fits
D e p o s its

i

3 0 0 ,0 0 0 .0 0

J o h n F. C o a d , President.

F. J. Mohiahty , Cashier.

A. W. T r u m b l e , Vice President.
Chas . A. D u n h a m , Asst. Cashier.

1 0 1 ,8 6 9 .4 5
2 ,8 5 4 ,3 1 6 .0 0

We invite the Live Stock Banking Business of Iowa and Nebraska
Bankers.

-A t
Located at the yards. Has exceptional facilities for
handling promptly and efficiently the banking business
arising out of the purchase or sale of Live Stock at the
South Omaha Market.

G u y C. B a r t o n , President
H. C. B o s t w ic k , Vice-Pres.
E. A. C u d a h y , Vice-President
T r u m a n B u c k , Vice-Pres.
H. C. M i l l e r , Ass’t Cashier

Cbe South Omaha Dafl Bank
A c c o u n ts a re In v ite d .

JOHN A. CREIGHTON, President.

S O U T H O M H H fl, N E B .
C A P IT A L,
$ 2 5 0 ,0 0 0

SURPLUS,
«2 5 0 ,0 0 0

PR O FIT S,
$87,547

P. H. D A V IS, Vice President.
THOS. B. M cPH ERSON , Cashier.
JOHN C. FREN CH , Asst. Cashier

are just under half a million dollars. On the re­
source side the loans and discounts stand at $457,000, cash on hand $126,000 and other items as the
statement shows, bringing the total resources up to
$662,000.
C. W. Fishhaugh and son Earl recently closed a
deal whereby they dispose o f ninety shares of stock
in the Commercial Savings Bank o f Shenandoah to
John Lake, A. W. Murphy and JI. I. Foskett at
$140 per share. It is said that Earl Fishbaugh will
resign his position in the hank as assistant cashier
and that John Lake will accept it, on or before the
first day o f January, 1906.
The Iowa hanking friends of H. 0 . Penick, form­
erly vice-president o f the Chariton National Bank,
will be interested in knowing that he has been ap­
pointed cashier and manager o f the Central Trust
and Savings Bank just organized at New Orleans,
La., with a capital o f $1,000,000 and a surplus of
$300,000. H e reports business o f all kinds to he
flourishing throughout the South.
The proposed building o f the First National hank
o f Sioux City will have 160 rooms above the bank
floor. It wTas stated recently by George 0. Call,
o f the building committee o f the bank’s directors,
that reservations had been made for more than twothirds o f these rooms. As to when work will be

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

of Banks transacting business with the Stock Yards
HCCOUNTS
received on the most favorable terms. Interest allowed on
balances. Collections receive prompt attention and funds
disposed of as requested without loss of time.

started on the foundation for the building Mr. Call
said the hank was “ making haste slowly.”
State Auditor B. F. Carroll recently granted a
charter to the Commercial Savings Bank of Tama
which has been incorporated, with $50,000 capital.
It -will be the second bank at Tama, taking the place
of the private Farmers and Merchants Bank which
closed its doors a few days ago, although different
men are identified with it. G. H. Austin is presi­
dent of the institution and D. E. Goodell is cashier.
W. J. De Vol, president of the First Hational
bank of Lebanon, was recently attacked and beaten
until unconscious in a yard adjoining his home. His
assailant fled and has not been identified. President
De Y ol is unable to give any cine to the man or what
prompted the attack. A reward of $200 has been
offered by De V ol’s family and $100 by the hank
for information leading to the man’s arrest.
S. 0. Huber, trustee o f the affairs of the Farmers
and Merchants Bank of Tama which closed its doors
recently for liquidation o f its accounts has issued
a statement in which he says: “ A fair estimate of
the market value of the real estate transferred, the
face falne o f the securities assigned and the cash
turned over makes the value of assets in the hands
o f the trustee $93,891. The total liabilities to he
met are $67,226. In view o f the fact that the value

December, 1905.

THE

N O RTH W ESTERN

__________ ____________________________________ / /

G

e r m

S

a n

a v i n

davenport
J E N S L O E E N Z E N , Pres.

g

s

B

, IO W A .

C H A S . N . VO SS, Vice-P res. and Cashier

R . A N D E E S E N , A s s ’t Cashier.

BAN KER.

V-________________

E D . K A U E M A N N , A s s ’t Cashier

a n k

, “"

ä k

&

m»

Statement, Novem ber 9, 1905.
ASSETS.
Loans........................................................ - - $7,748,502.10
Cash and Exchange.................................
673,858.65
Real Estate and Personal Property__
19,269.63
Total Assets................................... . . . $8,441,628.33

DIRECTORS.
F. G. CLAUSEN.
JENS LORENZEN.
H. U. BRÄUNLICH.

CHAS. N. VOSS.
H. O. SEIFFERT.
T. A. MURPHY.

H. H. ANDRESEN.
F. H. GRIGGS.
PAULO RODDEWIG.

of the real estate held in trust is almost equal to
the liabilities it is safe to say that all claims
against said hank will be paid in full.
Station Agent C. R. Williams o f Clarence has
obtained letters patent upon a self-identifying draft
which he has designed. A key to identification is
sealed in the end o f the draft and being known only
to the purchaser his possession o f the knowledge is
to pass as sufficient identification upon which to
draw the money even among strangers in a strange
land.
Arrangements were recently perfected whereby
Crete parties become the largest owners in the pur­
chase o f the Farmers and Merchants Bank of M il­
ford. The principal purchasers o f stock were How­
ard Knight o f Crete and Julius Vance of Milford.
Stockholders retiring are Floyd Seybolt and Mr.
Englehaupt, Mr. Knight will be cashier and Mr.
Vance assistant cashier. E. H. Strayer purchased
some more stock and will continue as president of
the bank.
A. J. Wilson has sold his interest in the Albert
City Security Savings bank to stockholders in the
Marathon Savings hank, the Boone National bank
and the Security Savings bank itself. Carl E. Lar­
son, for some time assistant cashier of the First N a­
tional bank o f Marathon, will become cashier of the
Albert City institution and Alfred Gulbranson, who
has been cashier, will go to Spokane, Wash., to be­
come interested with Mr. Wilson in the lumber bus­
iness.
The State Bank o f Tabor closed its doors in N o­
vember because o f the discovery that its vice-presi­
dent and active manager, H. C. Dye, had perpetra­
ted heavy forgeries o f notes and used them as se­
curity for large bogus loans. It was capitalized at
$25,000 and carried about $165,000 of deposits.
The disclosures caused a sensation as Dye and his
■parents have long been favorably known. His fath­
er is Sylvester Dye o f Council Bluffs, a wealthy man.

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

LIABILITIES.
Deposits................................................... ... $7,441,874.31
Capital....................................................
500.000.
00
Surplus....................................................
250.000.
00
Undivided Profits.............. . ....................
249,689.07
Dividends Unpaid.................................
65 00
Total Liabilities........................... . . . $8,441,628.38

It is estimated that the alleged forgeries amounted
to $50,000. D ye’s personal assets were about
$20,000. It is said he had plunged heavily in spec­
ulation and in doubtful oil land investments and
otherwise had led a fast life. The loss to the bank
have been made good, largely by D ye’s relatives and
the bank has resumed business.
A syndicate composed o f R. II. Moore of the
First National bank of Traer, E. E. Taylor, How­
ard Everett and George Ross, have just closed a
big deal in Canada, purchasing outright in con­
junction with the Fuse Land Company, of Carroll,
Iowa, 50,000 acres of land in the Battleford dis­
trict, in Saskatchewan, and securing a year’s option
on 100,000 acres more. The Traer company pur­
chased 25,000 acres in Canada three years ago, all
of which has been disposed of at a good profit.
The motion for a further continuance o f the cases
against Fred II. Cutting, the Oto banker, has been
overruled. The county attorney insisted upon an
immediate trial of the case and his position was sus­
tained by Judge Gaynor. Cutting will not be tried
upon all of the charges against him now. The two
indictments upon which the present cases are based
consist of embezzlement and the obtaining of money
under false pretenses.
The fraudulent banking
charges will be tried later.
In all there are five
charges against Cutting.
UI consider the Tabor bank in better condition
now than it was before the Dye peculations were
discovered,” said State Auditor Carroll.
“ The
bank now has in its vaults close to $60,000 in cash
and this is about 40 per cent o f the total deposits.
The assessment o f 100 per cent on the capital stock
of $25,000 which I ordered as soon as I hear of the
condition o f the bank has already more than half
been paid in and the rest guaranteed by the direc­
tors. In addition to this the bank has the $10,000
bond given by Vice-President Dye and the $ 6,000
worth of property which Dye has transferred to it

THE

40

N O RTH W ESTERN

2

5
3

Capital, $100,0 0 0

|

Surplus and Profits, $111,000

E S T A B L IS H E D 1 8 7 0

ii

g

S

December, 1905.

BAN KER.

po.ctcice^c0(«m ce:ce;
THE

F irst N ational B ank ,
O F S IO U X C IT Y , IO W A .

Merchants National Banh
o f

CAPITAL, $300,000.00. SURPLUS AND PROFITS,
$27,324.76. DEPOSITS, $2,378,350.51.

B U R L IN G T O N , IO W A .

J. L. EDWARDS, President.
JAMES MOIR, Vice-President.
ALEX MOIR, Vice-President.
P. L. HOUKE, Assistant Cashier.
C. L. FULTON, Assistant Cashier.
l ’ O Ilt

ACCOUNT INVITED ,

|
2
|
jj
jj

Accounts of Banks received on liberal terms. A large
list of par points in Iowa, Minnesota, Dakota, and
Nebraska. Collections carefully and promptly made.
JAMES F. TOY, President .
GEORGE 0. CALL, V ice -President .
A. F. BENNETT, V ice -President .
H. A. GOOCH, Cash ier .
J. FRED TOY, A sst. Ca sh ie r .
F. B. WATSON, A sst. Ca sh ie r .

to cover his shortage. Dye owed the bank about
$ 20, 000, and the assessment on the capital stock will
alone be suffiicent to more than half cover this
amount.

Public Auditor **■ Accountant

Affairs o f the old Officer & Pusey bank receivership
are now practically wound up netting creditors 66pi
per cent on their claims. The bank failed in 1901
with liabilities o f $300,000. A ll the assets have been
sold except some Colorado mining stock, for which
$2,500 is now offered. With other funds on hand,
there will be a final division of $15,000 for the cred­
itors.

R e fere n ces :
B anks in D a v e n p o rt

A consolidation has been effected between the
stockholders o f the First National Bank and the
Northwestern State Bank of Orange City in which
the business will he continued under the title of the
Northwestern State Bank. The consolidation gives
the hank a deposit o f over $200,000. Both hanks
have, during the last year, had more funds than they
could advantageously use, and it was thought pru­
dent by each to effect the consolidation, which will
place the business upon a more economical basis.
The People’s Savings bank o f Perry has opened
its doors to the public. It is capitalized at $25,000
and promises to do a good business.
J. P. O’Mal­
ley is president, and John Carmody, formerly con­
nected with the Peoples Savings Bank and the Marquardt bank in Des Moines, is cashier.
President
O’Malley is a successful business man and large
property owner in Perry. His extensive acquain­
tance and business connections insure a successful
bank from the start. John Carmody is a young man
of push, energy and good judgment.
An unsuccessful attempt, due to the failure of
the charge of nitro-glycerine to do its work, was
made to rob the Bank of Gilman on the morning
of nitro-glycerine was placed in the vault, door, and
exploded, only the vault lock was blown off, and
although the door was bent it remained fast in place.
The operator at the central telephone office, heard
the explosion and gave the alarm. The explosive
failing to do its work, and evidences that the toAvn

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

C. A. MAST,
DAVENPORT, IOWA.

was being aroused, put the robbers to flight, with­
out leaving a clue to their identity.
There is a case in the federal court at Fort Dodge
in which the.Merchants Savings bank of Rake, Lowa,
is plaintiff and the United States Surety and Guar­
anty company of Hew York is defendant.
Some
five years ago the bank at Rake, which was at that
time a private institution subscribed for a surety bond
of $10,000 from the Hew York company against
their cashier, Mr. Gutterson, in case he proved false
to his trust. Several premiums were paid as they
fell due. Later the bank incorporated under the
name of Merchants Savings bank and later on Gut­
terson absconded with $15,000 worth of the bank’ s
money. The bank then notified the bond company
of their loss and asked a settlement, hut was told
that in view of the fact that they had not notified
the bond company of a change of name, the company
was not holding for the face of the bond.
The trial of E. IT. Skinner, charged with fraud­
ulent banking, came to a sudden end, Judge Eiclielberger ruling after examining the first witness that
the evidence did not agree with the allegation in the
indictment and directing a verdict for the defendant.
Skinner was one of the promoters and builders and
for several years treasurer of the Fort Madison and
Ottumwa railroad, which later was sold to the Bur­
lington. H e had been conducting a banking and
mercantile business at Birmingham for more than
twenty years. H e failed a year ago. He was charg­
ed with receiving deposits from G. R iley after he
knew the bank to be insolvent. When R iley testified
that the money deposited was for the firm o f Riley
& Pesbacher the case was dismissed. Eight other in­
dictments are now standing against Skinner. He
probably will be arrested again.

December, 1905.

THE

N O RTH W ESTERN

BAN KER.

41

Official Statement of the Financial Condition
or

THE

Mississippi l/alley Tnlst Company
At St. Louis, State of Missouri, at the close of business on the
9th day November, 1905
RESOURCES
Loans undoubtedly good on collateral security....................... ........................................................................$ 9 525 914.84
Loans undoubtedly good on real estate security ............................................................................................
386 014.48
Other negotiable and non-negotiable paper and investment securities at present cash market value.. 2,197,’ 744!37
...............................................................................................................
’
2'638! 68
Overdrafts by solvent customers.........
Bonds and stocks at present cash market value................................................................................................ 7,968! 118!32
Real estate (Company’s office building) at present cash market value............................................................. .
Other real estate at its present cash market value............................. ..................................................
IS 1! 414 «¡9
Furniture and fixtures.......................................................................................................................
’
Safety deposit vaults.............................................................................................................................................
72,000!00
Due from other trust companies and banks, good on sight draft................................................................. 3,522,743.09
Checks and other cash items................................................................................................................................
’ 158 ’ 655! 08
Cash on hand (currency, gold, silver and other coin).................................................................................... 1,420 252.92
All other resources............................................................................................................................................. .
’ 6 927.39
Total

$25,646,423.76

LABILITIES
Capital stock paid in .............................................................................................................................................$ 3,000,000.00
Surplus..................................................................................................................................................................... 3,500,000.00
Undivided profits, less current expenses and taxes paid............................................... .................................. 2,047,473.96
Deposits subject to draft at sight by trust companies, banks and bankers............................................... 2’, 994^242.29
Deposits subject to draft at sight by individuals and others, including demand certificates of deposit.. 716951120.84
Time certificates of d ep osit.................................................................................................................................. 1,962 991.39
Savings deposits..................................... .................................................................................................... 4,’ 344’ 870.20
Debentures and real estate mortgage bonds...................................... ........................................................................................
Bills payable........................... ............................................................................................................................ ........ . . . .
All other liabilities................................................................. ..............................................................................
101 725.08
T o ta l......................................... *...........................................................................................................$25,646,423.76
Total liability on surety bonds....................................................... .........................

.................. $ 6 164 066 33

STATE OF MISSOURI
Cit y or St . L ouis

We, Breckinridge Jones, Vice President, and James E. Brock, Secretary, of the Mississippi Valley Trust Company, do solemnly
swear that the above statement is true to the best of our knowledge and belief
Breckinridge Jones, Vice President
James E. Brock , Secretary
We, Alonzo C. Church, Walter 8. Scott and C. McClung Thompson, stockholders of the Mississippi Valley Trust Company, do
solemnly swear that we have made thorough personal examination of the books, papers, property and affairs of said corporation, and
that the above statement is true to the best of our knowledge and belief
A lonzo C. Church
W alter ;S. 8 cott

C. McClung T hompson ;
Stockholders
Subscribed and sworn to before me this Slat day of November, nineteen hundred and five. Witness my hand and notarial seal,
the date last aforesaid. (Commissioned and qualified for a term expiring May 4,1906.)
£9eall
J. H. Keebaugh , Notary Public


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

December, 1905.

T H E N O RTH W ESTERN B A N K E R .

42

Iowa

S T a T E

N a t i ©n a l B a N K

Sioux City, Iowa.
C A P IT A L ,
SURPLUS,
D E P O S IT S ,
.

G E O . W E A R E , P re s id e n t.

$

2 0 0 ,0 0 0

I 12,512

2 ,1 6 7 ,7 9 3

. O F F IC E R S . . .

H. A. J A N D T , V ic e -P res.

J O H N IV IcH U G H , C a s h ie r.

T h is b a n k h a s u n e x c e lle d fa c ilitie s fo r th e p ro m p t a n d c a re fu l h a n d lin g of a ll b u s in e s s e n tru s te d to it.

September and October Iowa Sales of Burrough’s Adding
Machines

Marble Rock Bank, Marble Rock.
Fidelity Trust & Savings Bank, Cedar Rapids.
Ames Savings Bank, Ames.
Webster City Savings Bank, Webster City.
Antbon State Bank, Antbon.
Dolliver Savings Bank, Dolliver.
Bank o f Alden, Alden.
Farmers Exchange State Bank, Dows.
Bank o f Farley, Farley.
Winnebago County State Bank, Forest City.
Bank o f Waucoma, Waucoma.
Riles & Wtaters Savings Bank, Anamosa.
Iowa Mortgage Loan & Inv. Co., Mason City.
State Bank o f Dows, Dows.
Bank o f Persia, Persia.
Worth Savings Bank, Indianola.
Citizens Bank, Anita.
Citizens Savings Bank, Ottumwa.
State Bank o f Keota, Keota.
State Bank o f Prairie City, Prairie City.
* First Rational Bank, Fort Dodge.
Iowa Trust & Savings Bank, Atlantic.
County Auditor’s Office, Webster City.
County Auditor’s Office, Denison.
County Auditor’s Office, Vinton.
County Auditor’s Office, Glenwood.
City Treasurer’s Office, Sioux City.
The Fowler Company, Waterloo.
Tone Bros., Des Moines.
Lederer-Straus & Co., Des Moines.
Washburn Halligan Coffee Co., Davenport.
John Morrell Packing Co., Ottumwa.
**Bankers Life Association, Des Moines.
ITuttig Sash & Door Company, Muscatine.
State University o f Iowa, Iowa City.
E. M. Ellingson & Co., Des Moines.
Capital City Woolen Mills, Des Moines.
M. E. Fisher Gro. Co., Red Ooak.
Iowa Farming Tool Co., Fort Madison.
Davenport Malting Co., Davenport.
* Second machine. ** Sixth machine.

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

$25,000 for a Story-

Think of it ! Twenty-five thousand dollars for
one story! The highest price that has been simi­
larly paid in America to any author. And this for
just the exclusive right to print the story in this
one publication— no right to publish it in book form
being included.
Consider the quality of merit, the intensity of
interest this story must possess to command this ex­
traordinary price. The “ White Company” has ever
been accepted as the greatest work of any author,
and by far superior to his own “ Sherlock Holmes”
tales— but “ Sir R igel” , says Conan Doyle himself,
surpasses them all.
Conan Doyle receives this fabulous sum for his
“ Sir R igel” , which begins in the Sunday Magazine
part of next Sunday’s Record-Herald. Do not fail
to buy The Record-Herald for next Sunday, Decem­
ber 3, as this great romance by the world’s greatest
writer of romantic fiction will be the sensation in
the literary world for months to come.
The Bankers’ Encyclopedia

The Bankers’ Encyclopedia is recognized as one
organizing a state bank. The new institution will
of the best bank directories published. The features
claimed for this directory are the care taken in its
computation insuring as near absolute accuracy as
is possible, the convenient manner of its arrange­
ment and the complete information afforded. The
Bankers’ Encyclopedia is deservedly popular with
the bankers.
The Rock Island announces a very material
reduction in homeseekers’ rates to its Southwestern
territory. Heretofore the homeseekers’ rate has been
fixed on a basis of approximately one fare plus $2
for the round trip. The new rates are about 75 per
cent of the regular one-way rate for the round trip,
and tickets carry the same limit and all the privi­
leges o f stop-over, diverse route and side-trips as
at the former rate. The dates of sale are the first
and third Tuesday o f Hovember and December.

December, 1905.

THE

N O RTH W ESTERN

BANKER

45

It®” T he Victor Manganese Steel Bank Safe
Was the only manganese safe to take the
Grand Prize and Highest Award in De­
partment D, Group 41, Class 238.
The only official classification, and the only group in which all the
safe companies competed.
The victor Manganese steel is made by the Hadfield Process, and
is the only safe that has never been opened by burglarious
methods.
Write for catalogue 57 B.

The Victor Safe and LocK Co.,
Improved and

C I N C IN N A T I, O H IO .

patented .

The NaumanCo.
W A T E R L O O , IO W A .
Manufacturers of

Bank F ixtu res
Catalogues Free

PLANS AND ESTIMATES FURNISHED

The Fidelity & Casualty Company,
97 to 103 Cedar St., New York; City
Assets......................................... .............................................$6,791,185 .19
INet Surplus.................................................................. ............ 1,686,230.47
Losses Paid to December 31, 1904 ................... 19,655,793.02
CASUALTY INSURANCE SPECIALTIES.
F i d e l i t y —Bonds

of Suretyship for persons in positions of trust.
C a s u a l t y — Liability, Personal Accident and Health, Steam Boiler, Plate Glass, Burglary, Eleva­
tor and Flywheel, Bended List._______________
OFFICERS.
G EOR GE F. S E W A R D , President.
H E N R Y R O S S L E Y , A s s ’ t Sec’y.

R O E R T J. H IL D A S , V . Pres., Sec’y.
F R A N K E . L A W , 2d A s s ’t Sec’y.
GEO. W . A L L E N , 3 d A s s ’t Sec’y

DIRECTORS.
William P. Dixon, Dixon & Holmes; Alfred M. Hoyt, Banker ; Aurelius B. Hull, Retired Merchant; Geo.E. Ide, Pres. Home Life Ins. Co.
William G. Low, Counsellor-at-Law; John G. McCullough, Erie Railroad Oo. ; William J. Matheson, Merchant; Henry E. Pierrepont,
Retired; Anton A. Raven, Atlantic Mutual Ins. Co. ; John L. Riker, of J. L. & D. S. Riker; W. Emlen Roosevelt, Banker ; Dumont Clark,
Pres. American Exchange Natonial Bank; Alexander E. Orr, Retired Merchant ; George F. Seward, President.


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

THE

44

N O RTH W ESTERN

*|**|**§**%
**9»

*$*’g**|*"$*»|» •§•
•f

December, 1905.

BANKER.

*g**9**%
•"f* *|**§*

*?«*|*

California

R eturning from

Use the Shasta-Northern Pacific Route. Magnificent scenery all the
way. Attentive employes, luxurious trains, and the comforts o f a well
appointed club. Rates are low and diverse routes are permitted going
and returning. A postal card will bring all the information you may
request.
You have only to ask

*9»
4.

For

C o m f o r t ’s

5F

4*
*1*

Sake

•9*
♦

USE T H E

N o rth ern

•f
•4*
▼
•f
•t*
t
•f*

T
«I*
«*?/*
*

Pacific R a ilw a y

F r o m t h e Pacific N o r t h w e s t to St. Paul and M inneap olis

*t9*

*t*

A

M . CLELAND

Send for
Wonderland 1905

General Passenger Agent

Six Cents.

St. Paul, Minn.

▼

t

♦

f
=F

*9**9*

HomeseeKers

via

»s?/*

t
*9?*?•

W abasK

On the first and third Tuesdays in October, November and
Decem ber the W abash will sell cheap round trip tickets to
nearly all points in Arkansas, Indian Territory, Kansas,
New M exico, Oklahoma, Texas and other states at only
seventy-five per cent of the one way rate. In addition the
W abash will also sell cheap tickets to the South.

F o r fu ll in fo r m a tio n w rite S. W . F L I N T , P. &. T . A . W a b a s h K a ilw a y ,
D e s M o in e s, Iow a.

The Bankers Chicago Hotel
Whe n

in

C H I C A G O

stop

at

THE GRAND
P A C IF IC HOTEL
and meet your friends.
stop there.
cial district.

Many Northwestern Bankers

The most convenient hotel to the finan­
UNEX C EL L ED


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

SERVICE

L A R G E R INCOME FOR
BAN KERS
Bankers in Small Towns can double their income
by writing life insurance in connection with their
bank business.
The Union Mutual Life o f Portland, Me , is 57
years old and writes annual dividend policies that
please the policyholders, consequently, easy work
for the agent.
For terms of contract, address,

GEO.

H. S H A W ,
State M a n a g e r .

Suite 704, Citizens’ National Bank Bldg.

December, 1905.

THE

NORTHW ESTERN

BANKER.

45

[R e a d in g locals in this colum n w ill be printed at a cost o f 50c. a line for first in sertion ; 25 c. a line for subsequen t in sertion s.

In answering advertisements in this depart­
ment where letters are to he forwarded the
necessary postage should be enclosed.
F or S ale — -Private Bank, central Iowa.

Good
Address D. S., care Northwestern Banker.

business.

N otice— Replies to want ads that are sent in
care o f the Northwestern Banker should each be
accompanied by a stamp to pay forwarding postage.
W A N T E D — Position as cashier or bookkeeper;
experience in both. Best o f references. Box 92,
New Providence, Iowa.
W anteds — Position in bank by young man, age

19, inexperfienced, having recently completed the
commercial course at the Gem City Business Col­
lege, Quincy, 111. Pair penman and neat. W illing
to work short time in order to demonstrate. A 1
references. Address S. I. S., care Northwestern
Banker.

W anted . — Position as assistant cashier in hank
located in western country, by single man, 23 years
old, with four years’ experience as assistant cashier
and bookkeeper in Iowa banks. Best of references.
Address E. C. J., care of this journal.

Eor Sale.— Bank counter, solid golden oak, chip­
ped glass. Oxidized grill, used only one year. One
Urban & McNeal steel money chest and safe. Eor
particulars write Security Bank of Ponca, Ponca,
Neb.
C H A S. E. W A L T E R S o f Council Bluffs, Iowa,
is making a specialty of C O N F ID E N T IA L L Y
N E G O T IA T IN G T H E
SALE OF BAN KS
EVERYW HERE.
His life-long practical bank
experience and extensive acquaintance among the
banking fraternity throughout the country enables
him to serve both the buyer and seller in a prompt,
confidential and efficient manner.

Some Railroads Advise
the traveling public that they are the
shortest routes, others that they are the
scenic route, but the

Mexican Central
is P O SITIV E LY the O N LY ROUTE
to travel over in touring M exico. It
is the O N LY line reaching practically
every important city. It covers the
R E PU B LIC from NORTH to SOUTH
and EA ST to W E ST. Remember the
old reliable route to MEXICO and in ­
sist on your ticket reading that way.
First class Pullman Buffet Sleeping
Car runs daily from El Paso through
to the City of M exico, without change.
For further information call on or
address
MR. W. D. MURDOCK,
Passenger Traffic M gr.,
C it y

of

Me x ic o .

MR. J. T . WHALEN,
General Agent,
328 Marquette B ldg., C h ic a g o

A . DULOHERY, W. P. A . ,
209 Commercial Building, St . L ouis , Mo .

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

S.
Kansas City Southern Railway
L O W E S T RA TES EVER M A D E TO
S o u th w e s t M is s o u ri, In d ia n T e rrito ry , A rk a n s a s ,
L o u is ia n a a n d Texas.

DATES OF SALE—November 7 and 21.
December 5 and 19.
STOPOVERS on going and return trips.
LIMIT 21 days from date of sale.
The tide of immigration has turned to the South, where
land is cheap and crops abundant—The Land of Ful­
fillment. No other section of the country promises
such great return from products of the soil and in­
creased values.
It ’ s W o r t h Y our T i m e .

Write for free illustrated literature.

H . D. D U T T ON. Trav. a ss. A g t., K a n sa s City, Mo.
S. G. W A R N E R , G. . and. T. A ., K ansas City, M o.
F. E. R O E SL E R , Trav. a s s . a nd Im ig ’n A g e n t,
K ansas City, Mo.

THE

46

N O RTH W ESTERN

December, 1905.

BANKER.

S P E C I A L L IS T O F I O W A

BANKS.

A L P H A B E T IC A L L Y A R R A N G ED BY T O W N S .

,

,

Showing Name o f Bank, Town and County, Capital Surplus and Undivided Profits Names o f O fficers and
Special Facilities fo r the Transaction o f Business intrusted to their care.
ALGOSA,

I rirsi National Iìanli.

’

I Capital, $50.000.00.
I Surplus $10,000.00.
Kossuth County........... I Ambrose A. Call, President.
I D. H. Hutchins, Vice-President.
Oldest National Bank in
I Wm. K. Ferguson, Cashier.
Kossuth County.
1 C. A. Palmer, Assistant Cashier,
Prompt attention paid to all business entrusted to us.

The Castana Savings Bank.

CASTANA,

Capital, $50,000.
Surplus $12,500. Undivided Profits, $1,500
W . T. Day,, President.
S. D. WillitB, Vice-President.
. C. T. Hansen,Cashier.
General banking business. Negotiators of choice Iowa farm loans.

Monona County

••

[Marengo Savings Bank.

MARENGO,
I « w o r n n n tr

iowa Louniy................ I/j .

Capital, $50,000.
Surplus, $10,000.
c . Eng
”
Engelbert,
President.

|J. M. Mathew, Vice-President.
IA. M. Henderson, Cashier.

'L. E. Brown, Assistant Cashier.

Conduct a general banking business, Prompt attention given to collections

[Marshalltown State Bank.

MARSHALLTOWN,

I Capital, $100,000.
! Surplus and Profits, $50,000.
[A. F. Balch, President.
Geo. A. Turner. Vice-President
P. S. Balch, Cashier.

Marshall County.

C. C. all
Trine,
Ass’t entrusted
Cashier, our care.
Prompt and careful attention given
business

/Peoples Trust and Savings Bank.

CLINTON,

Capital, *300,000.
Surplus and undivided profits, $150,000.
G. E . Lamb, President.
Charles F. Alden, Vice-President.
C. B. Mills, Cashier.

Clinton Count}

VW. W. Cook, Assistant Cashier.

MT. AYR,
RiiiwtroLl C a h n tv
Klnggoia county------

fMt‘ AJr Bank.

{ Responsibility $150,000.
\ Geo. S. Allyn, Cashier.
VJno. H. Allyn, Assistant Cashier.
General Banking business transacted. Farm loans, real estate and abstract

Accounts of banks and bankers a specialty.

( First National Bank.

DAYENPORT,

First National Bank.

NEW HAMPTON,

Capital, $50,000.
Surplus,*10,000.
A. E. Bigelow, President.
J. W . Sandusky, Vice-President.
Tim. Donovan, Cashier.
Grant M. Bigelow, Ass’t Cashier.

Capital, $200,000.

Chickasaw County.

Scott County.........
General banking business
transacted.
Surplus and Undivided Profits, $110,178.
The first National Bank in operation
inPresident.
the United States commenced
A. Burdick,
business June 28, 1803.
Joe R. Lane. Vice-President.
John P. Van Patten, Vice-President.
George Hoehn, Cashier,

( Winneshiek County State Bank.

DECORAH,

J Capital, $100,000. Surplus, $10,000.
VC J. Weiser, President.

Winneshiek County...

E. W. D. Holway, Vice-President,
IR. Algyer. Cashier.

\H. B. Hustvedt, Assistant Cashier.
The most careful attention given collections.

Only National Bank in the County. A geueral banking business tranS'
acted.

ONAWA,
i Holbrook & Bro.
Monona County.............../ Established 1858.

J
P. K. Holbrook, Cashier.
(
General Banking Business transacted.
We make a specialty of promptness in furnishing abstracts. Farm mor
gages for sale.

Forest City National Bank.
/ Capital, $50,000.
I Surplus, $15,000.
/ G. S. Gilbertson, President.

FOREST CITY,
Winnebago County..

|C. H. Kelley, V. President.
( W. O. Hanson, V. President.
''0. A. Isaacs, Cashier.
M. J. Johnson, Asst. Cashier.

OSKALOOSA,

Oskaloosa National Bank.

Capital, $50.000.
Surplus and Undivided Profits, $85,000.
W. H. Kalbach, President.
H. L. Spencer, Vice-President
\C. E. Lofland, Cashier.
A general banking business transacted.

Mahaska County..

General banking business transacted.

HUMBOLDT,
Humboldt

[The Peoples Bank.
I Capital, $100,000.
County. <[ Surplus, $25,000.00.
|G. L. Tremain, President.
1W . W . Sterns, Cashier.

POCAHONTAS,
[ City Exchange Bank.
Pocahontas County... -j
W ill.D . McEwen, President.
|

Collections a specialty.

H. C. Doyle, Cashier.
Banking and Real Estate.
General banking business transacted.

A ll business given good attention.

KEOSAUQUA,

j

Yan Buren County.

Keosauqua State Bank.
Capital, *27,800.
Undivided Profits, $4,700.
H. H. Trimble, President.
J. N. Norton, Vice President.
J. L. Therme, Cashier.

Collections a special feature.

MONTICELLO,
Jones County............. (

/' The Monticello State Bank.

Capital, $100,000.
Surplus, $100,000.
S. S. Farwell, President.
1 Frank M, Hicks, Vice-President.
H. M. Carpenter,Cashier.
\ H. S. Richardson, Assistant Cashier.

Money to loaD on Iowa farm la n d s.


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

ROCK RAPIDS,
Lyon County...

Lyon County National Bank.
M il l e r & T h o m p so n .

(O. P. Miller, J. K. P. Thompson.)
Capital, $75,000.
M. A. Cox, Cashier.
F. B. Parker, Assistant Cashier.

If you want some choice farm loans drawing 5 percent, interest, write
us for descriptions of same.

SIDNEY,
Fremont County

Fremont County Bank.
Capital, $25,000.
J. H. McDonald, President.
H. H. MoDonald, Cashier.

Speoial facilities for collections.

December, igoS.

THE

N O RTH W ESTERN

BANKER

47

SPECIAL LIST OF IOWA BANKS-Continued.

TAMA,
J'First National Bank.
Capital, 850,000.
Tama County................
Surplus, 850,000.
J. L. Bracken, President.
T. L, Williamson, Cashier.
' D. E. Goodell, Assistant Cashier.

Representative Iowa Lawyers.
FAIRFIELD,

i Rollin J. Wilson.

Jefferson County......... J
j

General Attorney.
Refers to any bank in oounty

A general banking business transacted.

1 make a special feature of Commercial and Banking Law.

( The First National Bank.
WATERLOO,
I Capital, $150,000,
Blackhawk County------ \ Surplus, $25.000.

GLENCOE,

I H. B. Allen, President.
VF. J. Eighmey, Cashier.

Special List Minnesota Banks.
( Bank of Glencoe.
Capital, 850,000
Surplus, $10,000.

McLeod County.

Municipal, county and school bonds bought and sold.
Farm loans negotiated at lowest rates. Prompt service.

WAVERLY,

( German American Loan and Trust
1
| Co.’s Bank.

Bremer County........... / '

Capital, $25,000.
Surplus, $15,000.
W. C. Holt, President.
( Julian Ruddick, Cashier.
;

A general banking business transacted.

G. K.Farm
Gilbert,
President.
Banking business transacted?
loans
a specialty.
A. J. Snyder, Vice-President,
L. W . Gilbert,
Cashier.
( Citizens
State
Bank.
H. Carson,
Assistant Cashier,
I E.Capital,
830,000.

MONTEVIDEO,

Chippewa County....... (

I First National Bank.
Capital, J50,000.

Surplus, 820,000.
C. D. Bevington, President.
General banking business transacted.
W . S. Whedon, Cashier.

No other section is forging ahead
so fast as the southern states, in agri­
culture, horticulture, factory build­
ings and general progress. The last
year’ s record along the

S o u th e rn R a ilw a y and M o b ile
an d O h io R a ilro a d
of investments in factories and im ­
provements was over $ 100,000,000, for
three years $250,000,000.

S p le n d id O p p o rtu n itie s
Exist in Alabama, Georgia, Kentucky, Miss­
issippi, North Carolina, South Carolina, Ten­
nessee and Virginia; and in Southern 1llinois
and Southern Indiana, for investments of all
kinds, in timber, mineral and other lands.

F actory L o c a tio n s
Where all conditions are favorable for making
and marketing iron and steel and their prod­
ucts; all kinds of wood using articles and
nearly every other line of industry.
Publications and special information fur­
nished. Our department is a Bureau of In­
formation for all seeking locations or invest­
ments. M . V . R ic h a rd s , Land and Industrial
Agent, Southern Railway and Mobile & Ohio Railroad,
Washington, D. O.

C h a s . S. C h a s e , Agent, 722 Chemical Build­

ing, St. Louis, Mo.

"*• M . A Hays, Agent, 225 Dearborn St., Chicago,

I llinois.


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

Deposits and Profits, 8140,000.

Established 1879. Incorporated 1890
G. D. Griffith, President.
(M . E. Titus, Cashier.
We can furnish first mortgage farmloans runningfiye years,interest FIVE
Banking business transacted. Farm loans a specialty.

REDWOOD FALLS,
WINTERSET,
Madison County

I

/First National Bank.
I

Authorized Capital, $50,000.

R.a™.<I County.........

g jK * 1’ • * * *

I A. C. Burmeister, President.
I H. D. Baldwin, Vice-President.
\H. A. Baldwin, Cahier.
O. W. McMillan, Ass’t Cashier.
General banking business transacted.

^pHROUGH Tourist Sleepers to Los Angeles
leave Union Station, Chicago, 5.15 p. m.
every day.
Only $33 for a ticket, Chicago to Los Ang­
eles, or to any other principal point on the
Pacific Coast. Only $7 for a double berth,
Chicago to Los Angeles. Proportionately low
rates from all other stations on the Chicago,
Milwaukee & St. Paul Railway. Route—

Chicago, Milwaukee & St. Paul
Railway,
Union Pacific and the new San Pedro, Los
Angeles & Salt Lake Railroad, via Omaha, Salt
Lake City (three hours to see the “ City of
the Saints” ), San Bernardino to Los Angeles.
Folders free.
Ask the nearest agent Chicago, Milwaukee
& St. Paul Railway for complete information
or write to F. A. MILLER, General Passenger
Agent, Chicago.

7
! Û Ò

48 ~ y . ' y

THE

N O RTH W ESTERN

ì;jP

THE
MECHANICS-AMERICAN
NATIONAL BANK
ST. LOUIS
CAPITAL, $2,000,000
SURPLUS and PROFITS, $2,699,704
DEPOSITS, $21,217,385.65

BAN KER
u
U N IO N

CAPITAL, $100,000.

Valley National ßanl^

4 PER C E N T IN T E R E S T P A ID ON D E P O S IT S .
O F F IC E R S :
F. H. BARTEMEYER, Pres.
WILLIAM HEUER, Cashier.
W. R. WEIR, Vice-Pres.
8. D. BAWDEN, Ass’t Cashier.

---------------------------------------------------------------------- :--------If

D E C O R A H ,

RESOURCES

Loans and Discounts.......................................$1,053,599.54
Overdrafts..................................
594.60
Municipal and other Bonds.........................
98,125.21
Banking House................................................
35,000.00
Premiums..........................................................
682.50
United States Bonds........................................
302,020.00
Cash and Exchange........................................
515,381.86
T o t a l....................................................... $2.005,403.71
LIABILITIES

Capital S to ck ............................... ................ $ 200,000.00
S urplus..............................................................
100,000.00
Undivided Profits (n et)..................................
15,951.07
Circulation........................................................
197,097.50
D eposits............................................................ 1,492,355.14
Total...........................................
$2,005,403.71
R . A . C R A W F O R D , Pres. D. S. C H A M B E R L A IN , V ice Pres
W . E. B A R R E T T , Cashier.

FIRMS AND INDIVIDUALS

SOLICITED. AND GIVEN CAREFUL ATTENTION : : : : :


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

*

*

C A P ITA L, $ 5 0 ,0 0 0 .0 0

Special Attention Given to Collections.
Send Us Your Decorah Items.
C u r t in ,

President

O gden

Casterton,

Vice-President
B. J. M c K a y , Cashier

S E COND NATIONAL
BANK

MOINES

CALL

IO W A

1

OF DUBUQUE, IOWA

Jt

Condensed Statement, November 9, 1905.

ACCOUNTS OF B A N K S .

SURPLUS, $40,593

COMMERCIAL AND SAVINGS.

W e Solicit the Accounts of All Good Banks
and Financial Institutions.

C O M P T R O L L E R ’S

BANK,

DAVENPORT, IOWA.

E. J.

DES

S A V IN G S

Citizens Savings Bank

o f f ic e r s :

WALKER HILL, President,
H. P. HILLIARD, Vice-president,
W. J. KINSELLA, Vice-president.
EPHRON CATLIN, Vice-president,
L A. BATTAILE, Cashier.
J. S. CALFEE, Asst. Cashier.
J. A. BERNINGHAUS, Asst. Cashier.
G. M. TRUMBO, Asst. Cashier.

OF

December, 1905.

Report of Condition at Close of Business Nov. 9, 1905.
RESOURCES.
On H a n d ........................... _..................... . $123,350.54
With Other Banks...................................... . . 344,979.66
With U. S. Treasurer................................. . . 12,500.00 $ 480,830.20

C a sh —

I n v e st m e n t s —

Loans ............................................................ . 708,165.75
Bonds and Other Securities..... .................. - 406,850.00
Overdrafts......................................................
26d. 94
Banking House and Real Estate....... ........ ’ 51,200.00 1,166,439,69
Total .............................. .................... ................ $1,647,269.89

LIA B ILIT IE S .
Individuals.................................................... . $547,055.42
Banks.................................................. .......... 392,962.58
United States.................... ............... ........... 62,450.38 $1,002,468.38

D epo sits —

C a p it a l —

Paid in............................................................ 300,000.00
Surplus and Profits...................................... 94,801.51

C ir c u l a t io n . . ........................................ ................ ................

394,801.51
250,000.00

T ota l.................................................... ................... $1,647,269.89
This bank transacts a commercial business only, and
pays no interest except on balances of other banks
OFFICERS 1

J. K. Demlng, Pres.

W. BL Da y , Vice-Pres.

H erm . Eschen , Cashier

D IRECTOR S :

Chas . H. Br adley , James M. Burch , W. H. Da y , H. Bf G lover
J. K. Deming , F. A. Rumpe , Geo . W. K ibsel