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W A S G O D W I T H T H E M A R IN E S? B y S. L . Frazier Page 5 T W E N T Y -T H I R D Y E A R DES M OINES, IO W A , DECEM BER, 1918 Northwestern National Life Insurance Co. MINNEAPOLIS, MINN. JOHN T. BAXTER, President A PURELY MUTUAL, OLD-LINE, WESTERN COMPANY D irectors Ciiw fr^ u o R]kAIN ’ Chairm’n First & S ec’ty Nat. Bank n v ,T » f S 5 :r £ ’ ;? res- Northwestern National Bank Ç' .P r e s-F irs t & Security Nat’l Bank Ï' Janney. Semple, Hill & Co. r' Pres> Shevlin-Carpenter-Clarke Co. ?• a' îîS 4 ?T oNî , ? res- Hennepin Paper Co. t * -Y ^ e -P re s . First & Security Nat’l Bank Northwestern National Bank JOH N T . BAXTER, Pres. Northwestern Nat’l Life Ins. Co. HOTEL FONTENELLE = H anover N ational Bank The OM AHA - NEBRASKA Federal Land Bank Om aha, N ebraska D. P, HOGAN, President F R A N K G. OD ELL, Secretary E . D. MORCOM, Treasurer. M. L , CO R E Y, A tto rn e y-R eg istrar OF THE CITY OF N EW Y O R K N o w f u lly tried , fir m ly e s ta b lis h e d a n d g r o w in g r a p id ly . A d m ir a b ly m e e ts th e n e e d s o f b o r r o w in g f a r m ers. Nassau and Pine Streets W IL L I A M W O O D W A R D .. P r e s id e n t E . H A Y W A R D F E R R Y ......... V .-P r e s . S A M U E L W O O L V E R T O N .. .V .-P r e s . JO S E P H B Y R N E .....................V .-P r e s . C H A S. H. H A M P T O N ........... V .-P r e s . H E N R Y P. T U R N B U L L ......... V .-P r e s . W M . E. C A B L E , J R ...................... Cashi J. N IE M A N N ...........................A sst. C ash . W IL L I A M D O N A L D ........... A s s t. Cash. G E O R G E E. L E W I S ............A sst. Cash. B o n d s s e ll r e a d ily a n d fu r n is h a b u n d a n t fu n d s w h ic h a re lo a n e d to fa r m e r s a t a c t u a l c o s t. B a n k e r S e c r e t a r y -T r e a s u r e r s a re e n t h u s ia s t ic in p r a is e o f o u r s y s tem . F oreign Departm ent W IL L I A M H . S U Y D A M ____M a n a g e r R O B E R T N E I L L E Y . .A s s t . M a n a g e r Bankers are invited to make this hotel their hom e w hen visiting Omaha. Established 1851 Capital Surplus and Profits T O T A L NUM BER 376 $3,000,000 17,000,000 M anagem ent-H . E. GREGORY P r e e m in e n tly a fa r m e r s ’ sy ste m . E v e r y d o lla r o f n e t e a r n in g s , e x c e p t a sm a ll su m a n n u a lly f o r s u r p lu s, r e tu r n e d a s d iv id e n d s to b o r r o w in g fa rm e r s . L iv e b a n k e r s e v e r y w h e r e a r e g la d to h e lp t h e ir fa r m e r c u s t o m e r s o b ta in th e ir lo a n s a t lo w in te r e s t r a t e s on lo n g te rm s a n d a t a c t u a l c ost. IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIHIIIIIII1IIIIIIIIIIIIIIIIIIIII ESTABLISHED 1870 FIRST NATIONAL BANK SIOUX CITY, IOWA New Business Invited on the basis of Resources Over $3,000,000.00 FIRSTDAVENPORT, NATIONAL BANK IO W A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A. $600,000.00 Surplus $ 120,000.00 Our Facilities for Handling Bank A ccounts A re, W e Believe, Unexcelled. W e Solicit Y ou r Business. SATISFACTORY SERVICE L J. YAGGY, Cashier Capital F. DAWSON, President iiiiiinmmiiiiim JOHN J. LARGE, President F. A. McCORNACK, Vice-President H. A. GOOCH, Vice-President L. H. HENRY, Vice-President J, L. MITCHELL, Vice-President O. D. PETTIT, Cashier FRITZ FRITZSON, Asst. Cashier iiiiiiiiiiimni ? THE NORTHWESTERN BANKER December, 1918 u'm iliiiin iiiim iu iiiiiiiiiH iM U iiiiiiiiiiiiiiiiiiiiiu iiiiiiiiiiiiiiiiiH in iiim iiin iiiiiu in iiiiiu in iiitiiu iiiiiiiiu iiiiin iiiin iiiiiu in iiiiiiiin im n iiiiH iiiiiiiiu in iim in iiiiiiin iiiiiiiin iiM iiin iiiiiiiiiiiiiiiiin iiiiiiiiiiiitiiiiiiiiiiiiiitn iiiiiiiiiiiiiin n iiiiiin iiitiiiiin iiiiiu iiH n iin n iiin ! T he A merican State Bank | | | | C A P I T A L , M. F. S H A F E R , President W . E. S H A F E R , Vice-President $200,000.00 O M A H A [ O W A B anks desiring an 1 accom m odating Omaha connection are invited to cor respond with our officers. V L. M . S W IN D L E R , Cashier R O Y E. K A R L S , Ass’t Cashier | ly/TANAGED by bankers of i t I practical experience who k n ow the requirem ents of Middle-We^t Bankers. ñiUIHIIIIMIHIIIIIIUIIHIIIIMIIIIIIIIIIIIIMinillHIIIUIIIIIVIIimiUIIIUIIIIIinUIIIUIHIHHIIIIllMIUIUIIIMUmilllllllliniUIIIIIUIIlllllllllllllHIIIIIIHIIIIIIin^ » :* :i i i i i i i i i i i i c ] i i i i i i i i i i i i c ] i i i i i i i i i i i i c 3 i i i i i i i i i i i i c 3 i i i i i i i i i i i i c :i i i i i i i i i i i i e i i i i i i i i i !i i [ ] i i [ i i i i i !i i i c 3 i i i i i i i i i i i i c ] i i [ i i i i i i i i i e i i i i i i :i i i i i [ 3 i i i i i i i i i i i i c i i i i i i i i i i i i [ :i i i [ | i i i [ i i i C 3 i i i i i !i i i i i i [ 3 i i i i [ | [ i i i i :[ ] !i i i i i 5 t s :! i ::i i i i i i i i i !i i C ] i i i i n i i i i i i [ ] i i i i i i i i i [ i i n i i i i i i i M i i i > :^ ! T H E FI H ST N A T IO N A L B A N K I I | W A T E R L O O , IO W A Our Gapital—$200,000.00 Our Surplus and Profits—$250,000.00 | | | = | -------------------------;--------------------------------------- o f f i c e r s ------------------------------ ----------------------------------A . M . P L A C E , V ic e P resid en t p t F I G H V I E Y P resid en t F - P . H U R S T , A s s t . C a sh ier J A S . B L A C K , V ic e P re s id e n t ' ' ’ V . J . W I L S O N , A s s t . C a sh ier § = = I | We solicit your business on the most favorable terms consistent with safe and conservative banking. We pay interest on bank balances. | ^ 3IIIIllUllllt3IIHIIII!lllC3llllllllllllC3lllllillllllC31lllllllIIIIC3IIIIIIII!IIIC3IIIIIIIIIIIIC3llllllllllllCaillllllllli:E3IIIIllHHIIt3IIIIIIIIIlllC3IIIIIIIIIIIIC3IlllllllllllC3llllllllllllC2IIIIIUIimC3llllllllllllt3IIIIIIIIIIIIt3IIIIIll1llllt3lllllIIIIIIIUIIIIllllllllC3IIIIIIIIIIllC «S» https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis December, 1918 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE — NORTHWESTERN BANKER M E L V IN A. T R A Y L O R , .............. ............................ ~ President First Trust and Savings Bank, Chicago. M e lvin A. T r a y lo r , a t th e O c to b e r m e e tin g o f th e d ir e c t o r s , w a s e le c te d p re s id e n t o f th e F ir s t T r u s t a n d S a v in g s B a n k , C h ic a g o , to s u cc e e d E. K . B o is o t , w h o r e s ig n e d on a c c o u n t o f ill h e a lth . M r. T r a y lo r a ls o b e c o m e s v ic e p re s id e n t o f th e F ir s t N a t io n a l B a n k o f C h ic a g o a n d a d ir e c t o r o f b o t h in s tit u t io n s . H e t a k e s u p h is n e w w o r k D e c e m b e r 31st. M r. T r a y lo r a c h ie v e d a n a tio n a l r e p u ta tio n a m o n g b a n k e r s t h r o u g h h is s u c c e s s fu l w o r k in p la c in g th e T r e a s u r y C e r tific a te s o f In d e b te d n e s s , a n e n t ir e ly n e w an d u n fa m ilia r m e th o d o f fin a n c in g fo r m u la t e d b y th e G o v e r n m e n t p r e c e d in g t h e S e co n d L ib e r t y L o a n to ra ise' n e c e s s a r y w a r fu n d s . M r. T r a y lo r w a s m a d e d ir e c t o r o f s a le s in t h e ¡Seventh F e d e r a l R e s e r v e D is t r ic t a n d p la c e d a p p r o x im a t e ly $91,000,000 o f th e se c e rtific a te s . P r e c e d in g th e T h ir d L o a n , M r. T r a y lo r o r g a n iz e d th e D is t r ic t u p o n a c o u n t y u n it b a sis, th e t o t a l s u b s c r ip t io n s a g g r e g a t in g $325,338,000 a g a in s t a q u o ta o f $314,000.0001 A n t ic ip a t in g th e F o u r t h L o a n , a la r g e r s e r ie s 1 o f C e rtifica te s w a s a n n o u n ce d . A m e e tin g o f c o u n t y d ir e c t o r s a n d o r g a n iz e r s o f th e S ev e n th F e d e r a l R e s e r v e D is t r ic t w a s h e ld a t C h ic a g o , J u n e 18th. M r. T r a y lo r ’ s .s p e e c h a r o u s e d su ch e n th u sia sm th a t th e a u d ie n ce a r o s e , ch e e r e d a n d p le d g e d , it s e lf to ;take its e n t ir e a llo t m e n t o f C e r tific a te s — $574,000,00*, ar_d a t th e c lo s e o f t h e s e r ie s it w a s fo u n d th a t th e ¡Seventh D is t r ic t ’ s s u b s c r ip t io n r e a c h e d $653,204,000.. ; . ^ N B anker orthwestern 709-710 C R O C K E R BU ILD ING , DES M OINES, I O W A $2.00 per year, 20c a copy. Entered as second-class matter at the Des Moines post office to conform to the postal laws; everything else pertaining to the journal being strictly first class. The oldest financial journal west of the Mississippi R iver and the only one in the United States which is a member of the Audit Bureau of Circulations. Clifford D e Puy Special Representative Charles Burke Care Northwestern Banker Fraok Arm strong DECEMBER, 1918 Publisher Minneapolis Office Frank'S. Lewis 840 Lumber Exchange Bldg Chicago Office Herbert Armstrong 410 Advertising Bldg. Editor St. Louis Office New York Office H. C. Griffith 819 Brunswick Bldg. R. Fullerton Place 118 Merchants-Laclede Bldg. OUR MOST WONDERFUL CHRISTMAS UThis Christmas must strike a new note in human lives the world around—because we have been through the fires of purification, have felt the spiritual uplift of sacrifice, the joy of giving, the warming strength of inflowing brotherhood. This Christmas means increased faith in God; increased confidence that we are struggling upward to justice and equality; greater belief in the right judg ments of the common people, whom “ God loved because He made so many of them.” II I I.I.‘III PERSONALITY COMING BACK ^[We move in circles—styles change in banking and in business. Some of us can remember when it was customary for one man to run a business and we preferred to deal with the proprietor. Then came the period of organization, when the head of the enterprise was scarcely known to his custom ers. We seem to be swinging around again to dealing with the head of the firm. This tendency is noteworthy in banking. Officers are no longer fencing themselves off and making it necessary to run the gauntlet of five or six- secretaries before they can be seen. Even in the largest of the newer institutions the officers are very accessible to the public. This development seems to place renewed emphasis upon the great asset of the country banker—personality. Meeting his customers face to face and dealing with them day after day, he establishes relationships which no competition can take away. The banker who circulates around, who brings the new ideas to town and disseminates them, is generally the popular banker and the one whose deposits are mounting most rapidly. It is one of the pleasing features of business, that the atmosphere of friendly human interest need never be lost. KEEP GOING If An army officer is credited with uttering this great truth: “ No nation, simply through size and potential strength, can preserve itself—the Juggernaut Car of Destiny pays scant heed to a nation of inertia.” No business, regardless of size or prestige, can maintain its leadership without construc tive effort. Competition will soon overtake the strongest business, if permitted to recline upon its laurels. The house that has continued its advertising, retained its contact with the trade, main tained quality and rendered the best possible service under war conditions is in the most favorable position for the “ war after the war.” cure the monthly visits o f the Northwestern Banker for an entire year. Each issue contains from 56 to 64 pages o f mighty inter esting matter pertaining to banks and banking interests in the territory covered by the magazine. “ OUR CORRESPONDENTS” E v e r y b a n k in the Northwest is invited to a place on this list. Send, us items o f local interest, tell us about your bank and its growth, prospects, etc., also any other financial news of interest t o bankers in your section. W e are always glad to hear from our friends. “ SIGHT DRAFTS” W e always carry a large “ Re serve” o f good will and additional service, and will promptly honor drafts made upon same by any bank. This department is for your special benefit. It may be made o f very great benefit to your bank. D o not fail to avail yourself o f its privileges. “ A CLEARING HOUSE’ * Our columns are a clear ing house for all our readers. Express your views on any https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cation. You do not have to agree with us, or with anyone else. W e learn things by an interchange of ideas, and people with whom we disagree often prove valuable teachers. W e shall be glad in 7ÆN. to hear from you. “ NO PROTEST” Has ever been offered to the state ment that the field covered by the Northwestern Banker is the money-producing section of the American continent, rich in hogs, cattle, corn, etc., and dotted with thou sands o f prosperous banks, all doing a good business, and the majority o f them are readers o f “ The North western.” “ SURPLUS AND UNDIVIDED PROFITS” Increase very rapidly with those banks, whose advertisements appear regularly in the columns o f this magazine. Full information as to rates and our special service will be promptly furnished on application. Your business solicited and appreciated. The “ Banker” has been twenty-three years in its present field. I i December, 1918 THE NORTHWESTERN BANKER 5 W as God W ith the Marines? By S. L. Frazier Another splendid article by Mr. Frazier, whose previous “ Nietchke,” one of the the tide turned, when the articles in The Northwestern Banker have won philosophers who gave the patriotic contemptible little army of letters of appreciation from Premier Lloyd George and world “ German Kultur,” other leaders of world thought and action. “ Yankee” boys from the made this blasphemous good old U. S. A. were statement, “ I Have Killed God.” Was there ever an pounding his pets from Potsdam to a pulp; when his other such example of self-sufficiency, arrogance, stu invincible line was broken and his unbeatable army, pidity, heathenism and brutishness as this? smashed to smithereens, with “ Crown Willie” hot God still lives. God is on His throne. God alone is footing it towards Berlin like a darkey With a ghost invincible and unbeatable. Nietchke is dead, and at his heels, when the dumbfounded Kaiser saw the Trietchl^e and Bernhardi are dead. German Kultur is hand-writing on the wall, he forgot his devil-God and dead. Kaiserism is dead; Prussian Militarism is dead. wanted our God to help him. He began to “ coo,” like The “ hun” hordes are dead. Autocracy is dead. The a turtle-dove, quoted Scripture, and beseeched the “ Might makes Right” theory is dead. The “ Divine “ Lord” to have pity. However, the hypocritical, dia Right of Kings” theory is dead. The super-man idea bolical, egotistical old “ shyster” can’t put over any of is dead. The “ You can’t whip Germany” theory is his “ hun-propaganda” on the living God, and get away dead, for the “ Yanks” have “ licked” hell out of the with it, as he must have realized in the past few baby-killers at every turn in the road. God lives, and months. when Nietchke said he had killed Him he was uttering The Kaiser’s God is dead, too dead to skin, but our just one more “ hun” lie. What Nietchke had in mind, God, the living, potential, all-powerful God, still lives. no doubt, was that he had exploded the theory of the Does any man dare say there is no such thing as Christ-God of the Bible, upon whose teachings civiliza “ Providential interference?” It is only the “ fool” who tion and constitutions and says in his heart “ there is no laws are founded. “ German God.” Does any man dare say Kultur” is not reconcilable there is no “ efficacy in pray “ It wasn't the kaiser’s God who said, ‘Suffer with the fundamental doc er? The prayers of the right little children to come unto me and forbid them not, for of such is the kingdom of heaven.’ Don’t trines of the “ Master” as set eous avail much. God works you think the spirit of God was behind our boys forth in the Scriptures. “ Peace in a mysterious way, his won over there— for them and with them? I do, for on Earth and good will unto ders to perform. There are our boys were fighting for all humanity. They men,” and the Christian graces moments, and months, aye, were laying down their lives unselfishly for their fellow-man, and greater love hath no man are not suited to the beliefs years, when He seems to have than this, that a man lay down his life for his of the unconscionable “ hun.” forgotten his children. This friends.” The Kaiser calls on God, but is not so— his children have it is a German God, the God forgotten Him. When we of the sword, the God of War, wander, then we have to fight the God of Conquest. With some, God is a stone, or to get back. When we forsake him, we have to pay a snake, or a star, or an idol. The Kaiser’s. God is his the penalty. Maybe the Christian world has been side-partner, the junior member of the firm, with whom derelict in its duty to the living God. W e have courted he rides tandem, (with the Kaiser in front) “ Me and ease, and persisted in following the lines of least re Gott.” His God is a devil-God, a German God who sistance. W e have grown self-sufficient and soft in smiles approval, when a dirty hun-dog drowns women side. W e have been self-centered. God placed us and children, bayonets mothers, nails babies to barn here, furnished us with the raw materials and told us doors, murders helpless civilians, kills soldiers with to “go to it.” He makes it a business to let peoples poison-gas, bombs hospitals, shoots stretcher-bearers, work out their own salvation. He made us free moral contaminates wells, destroys cities, devastates fair agents. He says to us “ carve out your own career, lands, rapes unoffending countries, converts the homes develop your own character, look out for yourselves.” of his own peo'ple into houses of ill-fame and wages He admonishes us to fight the devil and all his works, and if we don’t do it, then we have to learn our lesson, war on children. It wasn’t the Kaiser’s God who said “ suffer little take our medicine, pay the penalty, stand the punish children to come unto me and forbid them not, for of ment, suffer the consequences. Eternal vigilance is such is the Kingdom of Heaven.” It wasn’t our God the price of Liberty, as it is the price of safety and who told the Germans that they were his chosen peo salvation. W e must guard our flocks as against the ple and who commanded them to destroy their ene wolves. W e must guard our homes as against the in mies, and that their enemies were all who opposed truder and the destroyer. W e must guard our nation them. It was the God of German Kultur who told as against the menace of world domination by the hosts of Potsdam. As God’s children we must be them that. When the Kaiser was sick the Kaiser a saint would b e ; prepared to defend our country and our loved ones and God’s good Cause as against the enemies of Chris When the Kaiser was well the devil a saint was he. When the hun-hordes were flushed with victory; tian Civilization, and if we do not, woe be unto us. W e received ample warning of the world war, but when the old Kaiser was swelled up like a “ poisoned-1pup” and proclaiming to his people that “ my army will “ peace at any price” got our goat, and ostrich-like we dine with me in Paris, Sunday after next,” the odorifer stuck our heads in the sand and said “ there is no dancontinued on page 16) ous skunk was still calling on his devil-God, but when https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 THE NORTHWESTERN BANKER December, 1918 Business and Finance of the TJ. S. By W . S. Kies When fundamental and ever before in our history. enduring principles of lib W e have soared high, but erty and justice are at stake soon we shall have to come it may seem somewhat out to earth again, and it is the of place to turn the atten part of wisdom to study tion to material things and to enter into a discussion well our landing place and become thoroughly in of the effect of war upon the commercial and indus formed of the conditions under which we must alight. trial future of a people. It is a fact, nevertheless, that W e must intelligently prepare to meet the readjust the material progress of a nation determines to a large ments which will come with peace. extent the political and social progress of its peoples. The present and the future of American business is Stagnation in business, financial depression and com now in the hands of the administration at Washing mercial disaster bring suffering and privation to the ton. The vitally important questions are—to what masses, political discontent, and a checking of prog extent will these powers be exercised after the war ; ress and advancement. what will be the effect upon business organizations of You, as bankers and business men, are vitally in the broad exercise of these powers during the war; terested in maintaining the prosperity of the whole and what new conditions created by their exercise will country, and, in so far as possible, guarding against business have to meet in the future? an after-the-war period of unsettlement and financial Price fixing today is a war measure. It is an arti disaster. ficial interference with the economic laws of supply In August, 1914, the war came upon an unprepared and demand. Its tendency, however, is to restrict world like a bolt from a clear sky. It threw out of production rather than increase it. Production in war gear the financial machinery time is the all-important con of the world. International sideration, and is always stim exchanges were upset. The “When fundamental and enduring principles ulated by the possibility of of liberty and justice are at stake, it may seem pound sterling' went to un profits. Excessive profits can somewhat out of place to turn the attention to heard of figures. L o n d o n , always be taken care of ' by material things and to enter into a discussion which had been the world’s taxation. If, however, price of the effect of war upon the commercial and financial clearing house, failed industrial future of the people. It is a fact, fixing is successful in keeping nevertheless, that the material progress of a to perform its function. This down prices of necessities, nation determines to a large extent the polit country suffered under the and, at the same time, results ical and social progress of its peoples. Stag shock. Our European credit in maintaining supplies suffi nation in business, financial depression and ors insisted on payment of commercial disaster bring political discontent, cient for the nation’s require and a checking of progress and advancement.” our debts.. To preserve our ments, then we may well an credit and to maintain the ticipate powerful support for financial equilibrium of the a continuance of the practice country, our great bankers, patriotically and intelli after the war, even though the abnormal and artificial gently working together, formed the great gold pool conditions which made for its success as a war meas which resulted in averting a financial panic. As it ure shall no longer exist. Interference with funda was, the stock exchanges of the country had to close, mental economic laws always has in it the possibility and business was at a standstill; streets were crowded of disaster. with unemployed; factories were working at half time; Profits today are limited as a result of price fixing the great steel industry was operating at less than 40 and through excess profits taxes. per cent of its capacity, and the business world en To what extent, after the war, will the government tered upon the year 1915 suspicious of the present and continue to restrict our exports and imports? Today dreadful of the future. nothing can be imported into or exported from the The story of the following years is familiar history. country without a license. This power is exercised in W e have enjoyed a period of industrial, commercial the interest of economizing shipping space, of check and financial prosperity unparalleled in the history of ing the production of non-essentials, and of restricting nations. W e have paid our debts to Europe, and, in the consumption of the non-essentials imported from stead, of our owing four billion of dollars, the world other countries. When the war is ended tonnage will today owes us more than eight billion of dollars as a be plentiful and there will be no need for restricting result of the war. W e have today in the vaults of the production or consumption of so-called luxuries, this country nearly 40 per cent of all the gold in the which, as a nation becomes more cultured and civi lized, contribute largely to the pleasure and conveni world. « Labor for the last three years has had constant em ences of life. But a world condition may arise which ployment at the most liberal wages it has ever earned. will compel our government to still continue a large Commerce and industry have flourished, and the com measure of control over the foreign commerce of the mercial and manufacturing institutions of this coun country. This country is today building ships at a rate which, try have made large sums of money during these years of plenty. Debts have been cancelled, sinking fund if continued, will give us the largest merchant marine provisions made, and, on the whole, industrial enter in the world. No matter how the war ends, at its close (Continued on page 15) prises in this country are on a sounder footing than https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Kies is vice president of the American International Corporation. The address herewith touches upon many problems of the greatest interest and importance to bank ers and business men generally during these months of rapidly changing conditions. December, 1918 THE NORTHWESTERN BANKER ; Some of the Leaks In Banking By W . R. Finlayson Mr. Finlayson is cashier of the Villisca National Bank, wanted to borrow one hun The first leak I have in Villisca, Iowa, and this talk before the Montgomery County mind and which probably Bankers Association was so good that the association voted dred dollars with which to buy a horse. He offered to comes to the minds of most to request its publication in The Northwestern Banker. give us a chattel mortgage of us first is bad loans and it probably is the greatest leak we have to contend on the horse he was buying and two others which on with. So far as I have been able to learn there is no the face of it looked good. There were several reasons royal road which we may travel which will keep us why if the loan was made it would have to be done on away from bad loans if we do any business at all. No a chattel mortgage basis. The best reason was that banker ever made a bad loan in his life, at least he did it did no good to have one man sign with another be not think so when he made it. They always go wrong cause no one could tell which was the best, the bor after they are made. The element of time always en rower or the surety. One man was as good as another ters into a deal involving credit and anything can hap and none very good. After some deliberation we de pen in any given time. I heard it stated once that cided to make the loan. For what reason I do not re It might have been that we thought we were one of the large banks in one Qf our cities charged off call. upwards of a million dollars in one year and we coun getting a customer from some other bank or it might try, fellows are apt to think the city fellows are letter have been to get the twelve per cent that the loan perfect and a little lower than the gods when it comes drew, at any rate it was otfr misfortune that he hap to making loans and always getting their money back. pened in to our place instead of our competitor’s across He took, our money and went out and A banker in one of our neighboring cities and at the the way. time of his death some months ago regarded as one of bought the horse, an unbroken colt. He took it home the very best bankers in his section, told me, perhaps and proceeded to break it and the first time he hitched it up it ran away, got into a more or less in fun, that wire fence and had to be shot. there never was a concern The other horse (ours too) failed in that city that his bank “ No banker ever made a bad loan in his life— was too old for so much ex or at least he did not think so at the time he was not in on the ground made it. They always go wrong after they are citement and soon “ passed floor and had to take its pro made. The element of time always enters into on.” ..Of course we did not rata. A few years ago a a deal involving credit and anything can hap know all this until after the smooth lady named Cassie pen in a given time. Of course, the percentage note was past due and we had of losses to the business we do is very small, Chadwick filled all the banks spent plenty of postage trying and no business can be run without losses, but she could get around to call we should try to reduce them to the minimum.” to get him in to fix the note. on with bad paper with sur W e made a trip out there and prising ease.. I recall reading learned the sad facts from one in the Chicago papers some years ago of a gentleman whose business was dealing of the neighbors. W e had one horse left in our mort in antique pictures, who very generously supplied sev gage but we soon learned that he had a club foot. Well eral of the Chicago banks with a liberal supply of bad there is very little more to this story to tell and that is that we charged off $100.00 and with it lost interest paper. Without any question bad paper is the greatest leak at the rate of 12%. There is one advantage that I find we have ‘ in the banking business and if the good Iowa has over South Dakota and that is you only have things of this world were as easy to acquire as a. bunch to lose your .interest at the rate of seven or eight per' of bad paper we would all be supplied with the bless cent and some of our friends around in this section of ings of earth without much trouble. I am of the opin the state only have to lose it at the rate of six per cent. Just how to eliminate leaks from bad loans I do not ion that the average outsider thinks the banking busi ness is a snap with no worries or troubles and we are know. Of course the percentage of losses to the willing to let him hold his opinions along that line. amount of business we do is very small and no busi Their idea of the banking business is a good deal like ness can be run without some loss but we should try the amateur who was going into the chicken business to reduce it to the lowest possible amount. W e all are and bought one hen for a start. He figured that this acquainted with the persistent dead beats in our towns hen should lay an egg every day which would make and we all know better than to loan to them, at least three hundred and sixty-five eggs in a year. He would most of the time we do. The newest kid in our banks then set these eggs and of course he would have three could loan to our good farmers and merchants if he hundred and sixty-six chickens counting the original knew how to fill out the note and take no chances one and these in turn would .each, lay three hundred of a loss at all but the fellow who causes the charge off and sixty-five eggs the following year and shortly he and the losses is the fellow in between who will be would, have several hundred thousand chickens. But blown away by a little adversity or will be put on his the chicken business and the banking business have feet by a little good luck. Just how and where to some striking similarities which it is useless to draw the line is the problem, especially in this country where we have so many renters and tenants and men enumerate. I recall a little personal experience which happened with small equities in their farms. Another cause of leaks and losses is the fellow who some fifteen years ago when some of my banking eye teeth were being cut up in South Dakota. One day a ordinarily is . good and who has accumulated some (Continued on page 14) “ poor but honest” fellow came in and told us that he https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8 THE NORTHWESTERN BANKER December, 1918 T he Employment Manager By Edward D. Jones The line executive in war education, carried on by determines where a battery the employer. Such activ shall go and what it shall ity demands the general su do, but he depends upon pervision of the employ staff men to breed a reliable ment manager. artillery horse, and to design convenient gun carriages In recent years there has been budded off from phil and to prepare service tables for sighting guns. osophy, a science of the mind, which, adopting the In industry, the function of staff departments is al laboratory process, and following the conservative ready seen clearly, with reference to mechanical equip methods of inductive research, has accumulated a store ments. The general executive desires a works; but he of knowledge concerning the nature of the sensory im depends upon the architect to design building mem pressions, the character of mental action, and the types bers which will sustain the probable stresses. _ He de of mental imagery. It has done much to aid in classi sires a product; but he organizes a designing and fying the characteristics of personality, and to define drafting department to control the dimensions of parts. the various types of temperament. It defines for us This principle of staff service is now being carried over various types of arrested development, and various into the field of human administration. General execu classes of unbalanced personalities. tives demand well-chosen men, men physically exam This science now offers us the possibility of selectined and pronounced safe for _•____________________ ing, from the applicants for the work they are to do, men jobs at a factory office; those who are properly paid, and persons who are adult in phy Emergency war courses in Employment Man men who are so handled that agement, for men and women, are being con sical developments, but still ducted by the government in Boston, where they become permanent, con have the minds of children. It Harvard, Boston University and Massachusetts tented, and loyal co-opera identifies the self-centered Institute of Technology are co-operating; in tors in the general plans of paranoiacs, and those bright New Y ork through the Bureau of Municipal Re the 'enterprise. Of all stand search; in Rochester at University of Roches and optimistic persons who ter; in Pittsburgh, Carnegie Institute and Uni ardized agencies which a serv are certain because of temper versity of Pittsburgh co-operating; in Berkeley, ice department can put at the amental instability, to endure Cal., at the University of California; in Seattle disposal of a general execu for a short time only, or to be at the University of Washington. Courses at tive. the supreme one is a come troublemakers. the Universities of Cincinnati and Chicago are now being arranged for. Employers are invited first-class man. As such persons may com to suggest men or women in their employ for The distinction just drawn prise from 5 to 15 per cent of these courses, which run from six weeks to two between line and staff is a all applicants, the importance months. There are no tuition fees. Employers case of the application of the of careful examination is ob or individual applicants will be furnished com principle of the division of la plete information regarding the courses and en vious. This identification is trance requirements by addressing Capt. Boyd bor to administration. This not for the purpose of refus Fisher, Employment Management Division, was one of the merits of the ing them work, but to give W ar Industries Board, 717 Thirteenth St., N. W., movement known as “ Scien them work which is within Washington, D. C. tific Management” that it their powers, and to provide called attention to the ab them with a supervision surdly wide range of functions which the average fore which is more intimate and constant and forbearing man was endeavoring to perform. than normal persons require. Vocational guidance has shown us the necessity of Psychology also tells us much of the means of im analyzing industrial tasks, to find out of what they pressing the memory, of holding the attention, and of consist, in what their peculiar difficulties lie, and what arousing the interest. qualities they demand of the worker. It has shown The conviction is general among employers that the the need, also, of studying the mentality of the youth and of endeavoring to understand his temperament, so setting of a wage rate is perhaps the most vital matter that work may be found for him which accords with in the relations of employer to employee. his talents, which possesses interest for him and has The ideal wage system is that of the man in busi power to evoke his enthusiasm. ness for himself. For such a man, reward rises and The school records of this country show that about falls in perfect accord with his performance. The en one-half of the children leave school by the end of the deavor of executives to approximate this wage, in the sixth grade. They also show that less than three- complexities of modern business, has lead to the devis fourths of the children are in school as much as three- ing of many kinds of production bonuses. Where fourths of the time. These conditions are largely the these bonuses are sufficiently localized upon an indi result of the fact that the public schools do not provide vidual shop, and pertain to a sufficiently definite and the education needed by children of concrete or motor measurable aspect of performance, and where they are temperament (the hand-minded children) and that the properly founded upon an hourly wage rate and a vocational ambitions of the child, and of the parents standard of performance, they have given satisfaction. of the child, are not properly utilized by the schools as To plan such bonuses in strict accord with the condi a source of interest and energy. tions of the individual business, the employer needs The answer is industrial training, and even general the services of a competent department. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Jones is author of “The Business Administrator,” Di rector of Course Materials» Employment Management Sec tion, W ar Industries Board. He describes in this article a new development of government activity that must be of general interest at this time. December, 1918 THE NORTHWESTERN PRESIDEN T M ADD O X HONORED. The Chamber of Commerce; of Atlanta, Ga., and the Capital City Club recently co-operated in doing honor to their fellow member, Robert F. Maddox. The oc casion was a splendid dinner in honor of Mr. Maddox as president of the American Bankers Association, an honor which the city, the state and the entire South appreciate. It was a “ dry” banquet with a simple, tactful menu. The toasts were to the president of the United States, the army, the navy and our allies. Then to Robert F. Maddox, the man. John W . Grant told of “ School Days” when he was “ Bobbie” to his chums. Charles C. McGhee told of “ Our College Days” and Frank M. Inman told of the work done by Mr. Maddox as president of the Atlanta Chamber of Commerce. Three other important episodes were targetted on Mr. Maddox. Maj. John S. Cohen reviewed his ac complishments as president of the Capital City Club; J. K. Orr told what he had done as mayor of Atlanta, and that choice old optimist, Col. Robert J. Lowry, outlined what Mr. Maddox will be like as president of the greatest business and financial organization in the world. Col. “ Bob” set President “ Bob” a hercuican task. W . H. White, Jr., representing the Cham ber, was toastmaster. 9 BANKER The Federal Reserve Board has asked that “ discriminating judg ment be exercised in the extension of credit.” Banks generally are observing the suggestions of the Board, and are very careful in extending credits— bearing in mind that the two chief re cipients of credit should be the gov ernment and those engaged in the pro duction of goods required in the con duct of the war. Beef and Bacon are an absolute necessity even in times of peace, but in war times every en couragement should be given to in crease production. BEEF CATTLE LOANS, carefully selected, are SELF-LIQUIDATING. They are available for rediscount at tjie Federal Reserve Banks and there is no industry more essential than sending BEEF to THE BOYS. TH E GUARANTY CATTLE L O A N COMPANY Stock Yards Station K A N S A S CITY, MO. specializes in cattle loans—it has thor ough organization, experienced man agement, strong connections. S. T. KiDDOO President Live Stock Exchange National Bank, Chicago. S. T. Kiddoo, vice president of the Live Stock Ex change, National Bank, Chicago, has been elected pres ident to succeed M. A. Traylor, who recently trans ferred to the presidency of the First Trust and Savings Bank, Chicago. Mr. Kiddoo hails from South Dakota, where he was formerly president of the State Bankers Association and went to Chicago with the Live Stock Exchange National, where he followed Mr. Traylor as vice-presi dent. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Loans are offered at current mar ket rates, and bear endorsement of the Company. Correspondence invited. • = = 10 THE NORTHWESTERN BANKER December, 1918 Personal Paragraphs Harvey A. Blodgett has just issued a booklet en titled “ Speaking Frankly to Bank Presidents.” Mr. Blodgett feels that bankers have been extremely slow to recognize the potential possibilities in their public ity and that at this time, when a greater degree of financial efficiency is demanded to meet the needs of the reconstruction period, banks should use propa ganda worthy the name. J. A. Lewis has assumed his new duties as a vice president of the Irving National Bank, New York. He was formerly vice president and cashier of the Na tional Bank of Commerce, St. Louis. Although the Middle West has been his field of activity, he is well known in New York banking and commercial circles. The _appointment means new opportunities for Mr. Lewis and increased service on the part of the Irving. ' . $— --------- $---- :------- $ E. N. Heinz, assistant cashier of the Ft. Dearborn National Bank of Chicago has patented a time-teller which is cheap and indepensable to banks. Many say it saves its cost every day. It shows at a glance any questions concerning “ time,” in figuring interest, handling notes, etc.— questions which often need to be right on a banker’s tongue when dealing with a custoiner instead of taking time to figure them up by mathematical computation. Mr. Heinz says his inven tion is to bankers what “ Whippet” was to the British Army— a God-send. This “ time-teller” also is a memo desk calendar, and is sent to banks on ten days’ ap proval by Edwards & Deutsch Lithographing Co., of 2310 So. Wabash avenue, Chicago. . $— ------- $— ------------------------$ George P. Kennedy, formerly assistant treasurer of the Guaranty Trust Company, is president of the Italian Discount and Trust Corhpany, which, was or ganized recently under the auspices of the Guaranty Trust Company and the Banca Italiana di Sconto and has opened for business at 399 Broadway, New York. A general banking and trust business will be trans acted, with special attention given to Italian export trade. G. Biasutti, manager of the Florence branch of the Banca Italiana di Sconto, is vice president. Among the directors are: Alexander J. Hemphill, Eugene W. Stetson, Harry Lawton and Theodore Rousseau, of the Guaranty Trust Company; Comm. Angelo Pogliani, managing director of the Banca Italiana di Scon to; Emauel Gorli, Judge John J. Freschi, Mr. Kennedy and Mr. Biasutti. $ - ---------- $------------ $ Louis E. Delson, advertising manager of the Cen tral Tust Company, of Chicago, 111., has issued a pamphlet in which is reproduced the series of adver tisements published in the Chicago papers by the Cen tral Trust Company during the Fourth Liberty Loan. These advertisements attracted wide attention and were of material assistance to the government, while at the same time a direct benefit to the bank. The title, “ Trusty-Bank” is featured through all the advertising, trade-marking the series and linking up each piece of copy in the campaign. The illustrations are well done and give added punch to the exceptionally strong copy. $— -------------------------$ B. C. Forbes wrote an article about President James S. Alexander, of the National Bank of Commerce, New York, which was published in Forbes’ Magazine and which was reproduced in the October issue of the Com merce Monthly. With reference to banking opportun ities, Mr. Alexander says: “ Yes, opportunities are un folding in banking as never before. The initial diffi culty every ambitious young man in a bank must over come is to make his presence felt, to make an impres sion upon those higher up, to stand out from the rank and file.” $ - -------------$----------------$ J. I. Clark, editor of the Commerce Monthly, of the National Bank of Commerce, New York, presents in a single issue letters from Lieut. Elliott H. Lee, who has been proposed for the Croix de Guerre; Alexander J. Burke, who is in a hospital; Lieut. George Archer, who has been gassed; Maurice J. McNamara; George Undeutsch, W . L. McCrodden, P. M. Scarpa, Charles H. Garrett, wounded at Chateau Thierry; Corp. H. J. McCormick, Merwin F. Ashley, P. R. Bryne, all formllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllUlOlllllllHlllllilllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllinillllllllllllllllllllllllllllH Atlantic National Bank 2 5 J B r o a d w A a y p its*. ♦ - 1865 ■$ i j _ r = ig r 1 8 2 9 lllllllllllllllllllllllllllllllllllllllllllill^^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T 0 r C i t y Ç ap itai, Surplus and U n d ivid ed P rofits 1829 Nationalized w liiiiiiiiimiiiiiiiiiiiniiiiiiiiiiiiiiiiwiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii 800,000 T o t a l ^Deposits $ 18 , 000,000 A n Efficient Banking Service in Close Touch with Presentday Commercial Developments THE December, 1918 NORTHWESTERN 11 BANKER erly conected with the bank, and now in France, except Mr. Bryne, who is at a southern training camp. $------ ----- $---------- -$ Frank T. Nye, cashier of the First National Bank, of Northboro, Iowa, is located in a town which is not blessed with a daily newspaper, so he gets out a little publication of his own called “ The Live Wireless.” Equipped with a Graflex camera he goes out into the country and gets interesting pictures of live stock, fields of grain and various farmers’ hobbies, which are reproduced attractively in the pages of “ The Live Wireless.” It is a very interesting little sheet filled with local news and pictures and carries advertise ments of a number of merchants, in addition to those of the bank. This merely goes to show that there is always some way of reaching the People and drawing them to your bank, no matter whether you have the ordinary facilities for advertising or not. “ The Live Wireless” is so good that it might offer helpful sug gestions to bankers in many larger places. $ ------------ $------------ $ Allen Walker, New York manager for the United States Chamber of Commerce since the organization of that body in 1913, has joined the Guaranty Trust Com pany, of New York, and will have charge of its foreign trade service. $------------$------------ $ The Guaranty Trust Company, of New York, has announced that it will make no charge to those who wish to use its facilities in sending Christmas money to soldiers and others in service overseas. The Paris of fice of the company has made a similar offer to mem bers of the American Expeditionary Forces who wish to send Christmas mon^- to the United States. $ ------------ $ ------------ $ The Guaranty Trust Company, of New York, to the close of business October 31st, had filed with the Fed eral Reserve Bank subscriptions to the Fourth Liberty Loan, totaling the largest amount subscribed by any bank or corporation in the country for any of the four loans and the third consecutive time that the Guaranty Trust Company has headed the list of Liberty Loan subscribers, according to an announcement just ’ re ceived. The First National Bank oi Chicago welcomes and appre ciates the accounts of banks and bankers. Its extensive clientele, developed during more than fifty years of consistent service, is splendid endorse ment of the agreeable and satisfactory rela tions maintained with correspondents. Capital and Surplus $22,000,000 $ ----------- $;------:---- $ Miss Louise B. Krause, librarian of H. M. Byllesby & Company, recently addressed the class studying business communication at the University of Chicago School of Commerce and Business Administration, on the relation of the library to the business of the or- E V A N R A N D O L P H , V . P res, and Cash. A. W . P IC K F O R D , A sst. Cashier JA M E S B. F O R G AN , Chairman of the Board F. O. W E T M O R E , President JOSEPH W A Y N E , JR., President A L F R E D B A R R A T T , A sst. Cashier D A V ID J. M Y E R S , A sst. Cashier W A L T E R P. F R E N C H , A sst. Cashier P H IL A D E L P H IA , PA. Capital, $2,000,000 Surplus and Profits, $5,885,000 Deposits, $70,000,000 A C C O U N T S OF B A N K S A N D B A N K E R S SO L IC IT E D “ T o Satisfactorily Handle Y ou r Business, Y o u Need a Philadelphia A cco u n t” https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE 12 NORTHWESTERN CORN EXCHANGE NATIONAL BANK OF CHICAGO C a p ita l........................ $ 3,000,000 Surplus ................... 7,000,000 Undivided Proiits . • 1,117,146 D e p o s i t s ................... 104,844,889 BANKER December, 1918 ganization. The class visited the company’s library and were given practical illustrations of the work cov ered by the address. B. G. Smith has been elected treasurer of the Paris office of the Guaranty Trust Company, of New York, succeeding R. J. F. Allen, who is returning to this country on account of ill health. $------------ $------------ $ Frederick W . Gehle, editor of the M. & M. Journal, published by the Mechanics and Metals National Bank, New York City, presents in the October issue letters from former employes of the bank in service in France, including SgC Bill Mohrmann, who is wounded; Pvt. Walter Kerr, who is wounded; Pvt. H. Thelander, Pvt. F. J. Gugelman, written just before his death, be sides many notes of interest regarding other members of the organization service, both in this country and overseas. $----------- $ ------------ $ Willis H. Booth, vice president of the Security Trust & Savings Bank, Los Angeles, has been elected vice president of the Guaranty Trust Company, of New York, and will have charge of the new business depart ment, beginning his duties about January 1st. $ ----------- $------------ $ H. R. Stevenson, formerly office manager of the Craddick organization at Minneapolis, entered the military service in June as a private. He is now Lieut. Stevenson and his friends are heartily congratulating him upon his rapid rise in the service. $------- — $ - ---------- $ H. B. Craddick practices what he preaches. He has kept his advertising going right through the war, just as he has advised 400 banker clients to do. . $------------^ ------------ $ Homer A. Miller, State Director of Sales in the War Savings Stamp drive in Iowa, hit upon a happy idea when he set cash sale day for Thanksgiving. People all over the State were exhorted to go to their regular voting places on Thanksgiving day and buy W ar Sav ings Stamps for cash, to the limit of their ability. This brought in an immense amount of cash sales in addi tion to subscriptions already obtained. $----------- $------------ $ O FFICE R S E R N E S T A. H A M IL L , President CH A R LES L. HUTCHINSON, Vice President D. A . MOULTON, V ice President O W E N T . R E E V E S , JR., V ice President J. E D W A R D M AASS, V ice President NORM AN J. F O R D , V ice President JAM ES G. W A K E F IE L D , Cashier L E W IS E . G A R Y , A ssistan t Cashier E D W A R D F . SCH OENECK , A ssista n t Cashier JAMES A . W A L K E R , A ssistan t Cashier CH A R LES N O V A K , A ssistan t Cashier JOSEPH C. R O V E N S K Y , A ssistan t Cashier DIR ECTOR S W A T S O N F . B L A IR CH A U N C EY B. BORLAND E D W A R D B. B U T L E R BEN JAM IN C A R P E N T E R C L Y D E M. C A R R E R N E S T A . H A M IL L C H A R L ES H. H U LBU R D C H A R L ES L. HUTCHINSON M AR T IN A . R YER SO N J. H A R R Y SELZ E D W A R D A . SHEDD R O B E R T J. T H O R N E C H A R L ES H . W A C K E R https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Norman Mason reproduced most of the United War Work posters in the current issues of the Mettco Meteor, published by the Metropolitan Trust Com pany, of New York. There is a long list of Mettco men in service and pictures of some of the boys over seas. $----------- $------------ $ LeRoy A. Goddard, president of the State Bank, of Chicago, has been elected chairman of the Executive Council of the Illinois Bankers’ Association, succeed ing Nelson N. Lampert, deceased. G. F. Emery, cashier of the Live Stock Exchange National, was elected to membership of the council. $------------- — $---------------- -$ W m. C. Freeman, assistant cashier of the National Bank of the Republic, Chicago, says the many girls they are employing in their bookkeeping department have proved their worth and will be retained, while the men in service will also be employed when they come back. $ ------------ $------------ $ John Fletcher, of the Fort Dearborn National, Chi cago, sees nothing but prosperity ahead for the live stock industry during at least the next five years. December, 1918 THE NORTHWESTERN E. J. Miller, formerly with the First National Bank, Huron, S. D., has been elected State Senator. A Complete Service $ _ -------- -------------- $ Arthur Reynolds is making things hum, as president of the Continental and Commercial Trust & Savings bank, Chicago. The papers report a note deal of $10,000,000 put through the first day. $------------ $------------ $ J. Ogden Armour says: “ I do not think provisions will go any higher, but at the same time they are not likely to decline much for some time to come. There will be a big trade for the next four years. It is fortu nate that we have good stocks, as Europe will need a lot, for their home supplies are used up. It looks to me as though prices for grains would not recede rap idly and the same applies to many other things and it will be some years before values will get down to nor mal. Mr. Armour is all puffed up over the fact that his birthday and peace happened on the same day. $----- -------$ - --------- $ R. S. Hawes, first vice president of the A. B. A., has been made treasurer of the United War Work Cam paign in Missouri and chairman of the War Camp Community Service in St. Louis. HANFORD M’N IDER COMMISSIONED MAJOR. Hanford McNider, son of Charles H. McNider, pres ident of the First National Bank, of Mason City, Iowa, served a year on the Mexican border as first lieutenant, Company A, National Guard, of Mason City. When the boys returned from the border, Mr. McNider re signed his office as first lieutenant, and attended the first Officers’ Training School at Fort Snelling, Minne sota, where he stood the highest in his company and accepted a second lieutenancy of the Ninth Infantry, regular army, refusing a higher commission with the National Guards. He went overseas with the Ninth Infantry and afterwards was promoted to first lieu tenant and then gained a commission as captain for action on the field at the battle of Vaux on July 1st, and on September 25th he was given a commission of major in the Ninth Infantry for gallantry in action in the battle of Chateau Thierry on July 18th. Mr. Mc Nider is to be congratulated upon the excellent ability shown in the service. Other boys from this bank are: Roy B. Johnson, first lieutenant, in overseas service; Sergt. H. A. O’ Leary, in the aviation section of the army; W . W . Boyd, in overseas service; H. A. Wiley, Officers’ Training Camp; William Burgardt, navy and Paul Wiley, in the Students’ Training Camp, at Ames. Bank Envelopes Bank Envelopes of every description, including Pay roll, Coin, Statement, Window, Commercials, Docu ment, Pennysaver, etc. Largest manufacturers of Printed Envelopes in the world. Daily capacity eight million. W rite us for samples and prices whenever you are in the market for anything in the shape of an en velope. Samuel Cupples Envelope Co. New York https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis St. Louis Chicago 13 BANKER H R O U G H our forty-one depart ments, we place at our correspon dents’ disposal, facilities covering com pletely every phase o f domestic banking, foreign banking, investment banking, and trust service. T Our Department o f Banks and Bankers gives its whole attention to making these facilities o f the greatest possible value to our bank customers. D epartment of B a n k s a n d Officers in Charge E. W . STETSON , Vice-Pres. Bankers A. B. H A T C H E R , Asst. Treas. Our booklet, “ Specialized Service to Banks,” will be sent on request. Guaranty Trust Company of New York 140 Broadway FIFTH A V E . OFFICE Fifth A ve. & 43rd St. MADISON AVE. OFFICE Madison Ave. & 60th St. L O N D O N O F F IC E 32 Lombard St., E. C. PARIS OFFICE Rue dc 3 Italiens, 1 & 3 Capital and Surplus - - $5 0,00 0,0 00 Resources more than - $ 6 00,0 00 ,000 B/L B A N K of C H I C A G O W e collect direct Bill of Lading items on every shipping point in the U nited States and Canada. A special department handles these items with minimum time and cost. W e invite correspondence with any bank or shipper handling a volume of this class of items. UNION TRUST COMPANY C H IC A G O Strictly a Commercial Bank Established 1869 14 THE NORTHWESTERN Let Us Quote You on Any Job You Have in Mind The largest exclusive supply house in Iowa. Ruled goods, loose-leaf goods, bound books made to order and in stock. Bankers, write us for sample of our loose-leaf com bined draft, certificate, cashier’s check, discount and collection register sheets. LcMarsPriiitiB^ Company Pass Books Check Covers Binders Checks Drafts Certs Mason City. Iowa We guarantee ten-day delivery on any order. 1918 1857 a,hM> ■ ÏRUSf, Company, Statement of Condition at Commencement of Business November 2 ,1 9 1 8 RESOURCES. 72,985 867.63 498i 916.00 10,263, 942.18 360, 000.00 7,142, 185.00 6,556, 029.95 Loans and Discounts. . . .................................................. United States Bonds and Certificates.......................... Other Bonds and Mortgages........................................... Stock in Federal Reserve Bank...................................... Customers’ Liability under Letters of Credit............ Customers’ Liability under Acceptances........................ Cash and Due from Federal Re serve Bank .................................... $ 9,996,026.38 Due from Other Banks and Bank11,084,966.09 3 ,118,566.65 Checks from Clearing House. 24,1 99 ,5 5 9 .1 i $122,006,499.88 L IA B IL IT IE S Capital ............................................................ Surplus ............................................................ Undivided Profits ........................................... Reserved for Accrued Interest and Taxes. . Rediscounts with Federal Reserve Bank. . Liability under Letters of Credit................. Liability under Acceptances; . . . . ............... Deposits ......................................................... ...$ ... 3 ;0 0 0,000.00 9,000,000.00 979,860.76 697,157.90 1.902.500.00 7,339,940.41 5.814.969.00 93,272,071.81 $122,006,499.88 ORSON SMITH .................................................. .. Chairman of the Board EDMUND D. H U LBERT.................................................................President FRANK G. NELSON...............................................................Vice President JOHN E. BLUNT. J R . . ........................................... « . . . .Vice President C. E. E STE S................................... Vice President F. W. THOMPSON.................................................................Vice President H. G. P. DEANS............................................................ .. .Vice President P. C. P E T E R S O N ...................................| ........................................ Cashier JOHN J. GEDDES...............................................................Assistant Cashier F. E. LOOMIS ............ .......................................... ......... .Assistant Cashier LEON L. LOEH R........................................... Secretary and Trust Officer A. LEONARD JOHNSON.................................................................AssistantSecretary G. F. H A RD IE .................................................. Manager Bond Department CUTHBERT C. A D A M S ............. Assistant Manager Bond Department CHICAGO Fort Dearborn BANKER December, 1918 SOME OF TH E LEAKS IN BANKING. (Continued from page 7) property and then does some fool thing and ruins his credit and perhaps brings loss to his creditors. W e have all met the man who traded his good Iowa farm or established business for some “ fly by night” proposi tion in some distant place and after the thing blew up came back and worked on the streets. His creditors are lucky if they get square with this well meaning fellow, but misguided, before it is too late. The next leak I have in mind is the bad check. This does not happen often but it is an easy matter if the right artist gets on our trail. A smooth grafter if he is on to his job can get almost anything he wants. I pity the banker who thinks he is so sharp that he cannot be worked. If he thinks that way he had better look over the lit tle book that the American Bankers’ Association puts out every few weeks giving the pictures, handwriting, description, etc., of the fellows who are doing it some place every day and it often happens that the banks that are worked would not cash a small check for you and me if we did not have the proper credentials and were fully identified. These leaks will never be fully stopped but our state and national associations are doing a great deal to cur tail this evil and we should all be on the alert con stantly to avoid losses from this source. Another leak I have in mind is the practice of doing innumerable things for nothing. W e draw a lease for one man because he is a customer and we make a deed for another because we hope he will be sometime. We do a lot of things for which we should have some pay but for some reason we do not get it and we have no one to blame but ourselves. W e do a lot of dunning for outside concerns by presenting sight drafts cover ing some disputed account for which we usually do not even get our postage, not to mention the service ren dered. W e also furnish ratings and reports on vari ous people and concerns which are of value to those asking for them and it is seldom that we get anything for our trouble. W e should have some remuneration for this service. Another leak that occurs to me is the matter of interest. I think it is the custom of most country banks to figure interest for even months with thirty days to the month. I have noticed that city banks charge interest for the actual number of days and pay no attention to months at all. If we would practice this we would find that we would have quite a little more for our profits account at the end of the year. National Bank C H IC A G O , ILLINOIS United States D e positary DEPOSITS $46,000,000.00 CA PITAL AN D SURPLUS $4,000,000.00 /JP ^ W IL L I A M A . T IL D E N , P r e s id e n t N E L S O N N. L A M P E R T H E N R Y R. K E N T JO H N F L E T C H E R M ARCUS JA CO BO W SK Y G E O R G E H. W IL S O N CHARLES FERN ALD E . C. TU B BS, C a sh ie r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis > V ice P r e s id e n ts WM. W . LEGROS C H A R L E S L. BO Y E W M . L. M cK E E R O B T . J. M c K A Y W M . E . M cL A L L E N >Ass’ t C a sh ie rs E D W A R D N. H E IN Z A n d M g r. F o r e ig n E x c h a n g e D ep t. W M . J. F I C K I N G E R A GEN ER AL B AN K IN G BUSINESS December, 1918 THE NORTHWESTERN BUSINESS AND FINANCE OF TH E U. S. (Continued from page 6) we shall be the second, if not the first, ship-owning nation. W ill we again permit our merchant marine to dwindle to insignificant proportions as we - did after the war of 1812? The workers of this country are now receiving wages unheard of before in history. When the men released from war come into the labor market and the law of supply and demand begins to operate, will wages be reduced to a lower level in an orderly-manner or shall we enter upon a period of labor troubles with attend ant strikes and riots? This is a time to test the loyalty and devotion of our citizenship. In spite of our trials, our burdens and our individual sacrifices, it is a privilege for all of us to live in this day and age, and to have a part in the greatest events of all history. Men are being drawn closer together, are becoming more unselfish, are ap preciating and understanding each other, and out of all this will come a greater nation, its people united in purpose, with a clearer understanding of the great fundamental principles of liberty and justice. Be Ready As a progressive banker you are going to have a busy fall. You will want to Be Ready to make every moment count. To do this you should purchase early your Christmas Savings Club Supplies. SUPPLIES —are both practical and economical— our knowledge of how to promote and conduct these clubs will be of special interest to every banker. Our supplies are equally as well adapted for the coming Liberty Loans. Let us tell you how easy it is to Be Ready. Write Us NELSON N. LAM PERT. The death of Nelson N. Lampert vice president of the Fort Dearborn National Bank, was a shock to the banking world. Mr. Lampert was stricken with cere bral hemorrhage while enjoying a brief vacation at Excelsior Springs, Mo., following a slight attack of influenza, and died shortly afterward in his hotel. Al though he had been vice president of one of Chicago’s largest and strongest banks since 1904, Mr. Lampert was only forty-six years old. He came to his high place in the world of finance at the age of thirty-two — and then he had been in the employ of the Fort Dearborn National for sixteen years. In banking hours Mr. Lampert had no thought but for his bank. Outside banking hours his interests and activities were many. He was active in athletic as well as in Masonic affairs. He was unopposed for the presidency at the Chicago Athletic Association’s last election and was prominent in A. A. U. activities. He is survived by a widow, a three-year-old son, Nelson Lampert, Jr., and three brothers-HDr. Elmer E. Lam pert, Harry H. Lampert and Wilson W. Lampert, cashier of the Continental & Commercial National Bank. 15 BANKER The Thrift Press Peoria, Illinois WATERLOO BANK & TRUST CO. (FORMERLY WATERLOO LOAN AND TRUST CO.) Lafayette Building Waterloo, Iowa Now doing a general banking and trust company business under the game successful management and with added features and facilities will render the highest service attainable. Write us for particulars on farm loans or invest ments suitable for estates, guardians, individuals, state, savings and national banks. These investments secured by first mortgages and are also a direct obligation to this bank. Capital, S u rp lu s and P ro fits $ 300,000.00 . D ep osits 1,175,000.00 R esou rces o v e r 1,500,000.00 Ben. J. Howrey, Pres. E. H. Wyant, Secretary J. W. Arbuckle, Vice Pres. H. M. Howrey, Asst. Cashier C. A . Mains, Cashier D. S. Ramage, Asst. Cashier A. K. Smith, Asst. Cashier Leavitt & Johnson National Bank Established 1856 Capital, Surplus and Profits $ 3 0 0 ,0 0 0 .0 0 Total Assets Waterloo, Iowa OFFICERS J. E. SEDGWICK, President C. E. PICKETT, Vice President J. O. TRUMBAUER, Vice Pres. $ 3 ,5 0 0 ,0 0 0 .0 0 IRA RODAMAR, Cashier FRED H. WRAY, Assistant Cashier Accounts of Banks Desired and Appreciated Sixty-two Years of Continuous Successful Banking https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis | 16 THE NORTHWESTERN BANKER December, 1918 W A S GOD W IT H TH E MARINES? (Continued from page 5) The ger. “ So we have had to learn our lesson. W e are paying the price. God does his part but he makes it incumbent on us to do ours. He will listen to his peo ple if they come to him in the right spirit. He has listened to us, but we “ sure” had our “ tussle” in the garden of Gethsemane. He put our faith to the acid test. Christian Civilization has been shaken to its foundations. The old world has reeled and staggered and stumbled, under the powerful blows of the Central Powers, bent on the subjugation of all peoples. The world was on its knees and hanging on the ropes and flat on its back, with the Kaiser counting ten, and then something happened. It is our opinion that right here is where God got in the game and when General Foch, the superb, with that “ uncanny” and almost divine judgment of his, told General Pershing to send up the Marines to cover the retreat at the Second Battle of the Marne, I believe the good God told him to do it, and I believe, just as much as I believe there is a God, that He was with our boys in that crucial moment. It was a most daring thing to do, to rush our untrained, unskilled boys, unknown to war, undisciplined and fresh from the field and the factory and the shop and the office, into the fires and furies of “ hell,” to stop the most powerful, best equipped and best disciplined army the world has ever seen—to stop, dead in its tracks, this army, flushed with victory, with the goal in kicking distance, with but “ one down and three to go,” with but one more big push, one more river to cross, and the world “ done-for.” The “ Yanks” went steaming in, singing, shouting, M e rch a n ts National Bank Cedar Rapids, Iowa Resources $14,000,000.00 OFFICERS John T . H am ilton President P. C. P rick V ice President Jam es E . H am ilton V ice President K dwin H . F urrow Cashier H . N. Boyson A ssista n t Cashier R oy C. F olsom A ssista n t Cashier H a rk J. H yers A ssista n t Cashier Fred A . Groeltz A ssista n t Cashier A live institution offering superior equipment and facilities for the handling of bank accounts. PEACE The signing of the Armistice means added tasks for America. War-torn Europe must be rebuilt, rehabilitated and provisioned. The largest possible production of meat and meat producing animals is absolutely essential and for which high prices are assured. Your cooperation solicited. The Live Stock Exchange National Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of Chicago THE December, 1918 NORTHWESTERN laughing, but with a fervent prayer on every lip, and a solemn vow on every tongue, and a righteous desire for vengeance in every heart, and O how they mowed them down. How they sent them scampering back across that old river, how they slaughtered them as they came over the first-line trenches and then at the second line and the third line. The picked troops, the Bavarian Guards, the Prussian Guards, the Jaeger Battalions, the best soldiers from that accursed land, came on in seven distinct waves, in mass formation, but you remember the result; all “ huns” looked alike to those boys of ours. They now knew the “ huns” for what they are. They knew, at first hand, that the hound-dogs had ravished girls, mutilated women and bayoneted babies, and “ all hell” couldn’t stop them. Don’t you think the spirit of God- was behind them, over them, for them and with them? I do, for our boys were fighting for all humanity. They were laying down their precious young lives, unselfishly, for their fellow-man and “ greater love hath no man than this, that a man lay down his life for his friends,” and so, surely, the good God had a hand in this. How many times in the world’s history, at the crucial moment, at the last, God has brought forth his man, his chosen men, to save his people. “ The Marines at the Marne” turned the tide. They saved the world. How did they do it? God only knows, but to me, it was ‘Prov idential.’ The world is ransomed. Peace dawns. God be praised! John R. Washburn, of the Continental & Commer cial National bank, has been recuperating and prac ticing golf at Excelsior Springs. The Chase National Bank of the City of New York 57 Broadway Capital . . . Surplus and Profits Deposits (Nov. 1, 1918) . . $ 10,000,000 15,522,000 369,635,000 OFFICERS A . Barton Hepburn, Chairman o f the A dvisory Board A lb ert H . W ig g in , Chairman o f the Board o f Directors E lisen e V . R . Thayer, President Chas. D. Smith..Asst. Samuel H . M iller....V. Pres. E dw . R. T in k er........ V . P res. W m . P. H o lly __ Asst. Carl J. Schmidlapp..V. Pres. Geo. H . Saylor....Asst. M. H. H ow ell......A sst. Gerhard M. D ah l......V . Pres. Alfred C. A ndrew s.—Cashier S. Fred TelIeen..Asst. Chas. C. Slade..Asst. Cash. Robert I. Barr__ Asst. Sewall S. Shaw A sst. Edw in A . Lee....Asst. Cash. W in. E . Purdy ....A sst. Cash. L. H . Johnston..Asst. Cash. Cash. Cash. Cash. Cash. Cash. Cash. Cash. DIR ECTOR S H enry W . Cannon Samuel H . M iller A . Barton Hepburn Edw ard R. Tinker A lbert H . W ig g in H enry B. Endicott John J. M itchell Edw ard T . Nichols Guy E . Tripp Newcomb Carlton James N. H ill Frederick H . E cker Daniel C. Jackling Eugene V . It. Thayer F ran k A . Sayles Car) J. Schmidlapp Charles M. Schwab Gerhard M. Dahl Andrew Fletcher WE RECEIVE ACCOUNTS OF Banks, Bankers, Corporations, Firms or Individuals on favorable term s, and shall be pleased to meet or correspond with those who contemplate making changes or opening new accounts. FOREIGN EXCHANGE DEPARTMENT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17 BANKER Order Now! Right now is the time to order your A M E R I C A N check canceller. Order season is here. This is the time to stop “ rubber stamping” checks paid—the dangerous, unsafe, slow, awk ward method of check cancellation. Order today, on approval, a rapid-fire, patentedadvantage, safe, efficient AMERICAN perforat ing machine. H e r e a ft e r c a n c e l c h e c k s so t h e y w ill s t a y c a n c e lle d — p u n c h e d c le a r th r o u g h , m a n y a t a tim e, b y p e r fo r a t io n . E a c h c h e c k d a ted , y o u r A . B. A . s e r ia l n u m b er, punched “ p a id ,” n o t sta m p ed . I t n e v e r c a n be r u b b e d ou t, e r a se d , o r r e m o v e d b y w a t e r o r s u n lig h t, a s a r u b b e r -s ta m p e d c a n c e lla t io n s o o ft e n h a s b een . Your “ Broken-Down” Perforator I f y o u h a v e a n o ld -t im e p e r fo r a t o r , w h ic h h a s b r o k e n d o w n , r e p la c e it w it h a m o d e rn , p a te n te d A M E R IC A N p e r f o r a t in g m a c h in e . T h e A M E R I C A N h a s m a n y a d v a n t a g e s o v e r th e o ld -t y p e m a c h in e, e n t ir e ly c o v e r e d b y p a ten ts. It is th e o n ly p a te n te d p e r f o r a t in g m a c h in e m ad e. T h e A M E R IC A N is th e m o s t e fficie n t c h e c k c a n c e llin g m a c h in e m ad e. I t h a s e v e r y a d v a n t a g e o ffe r e d b y o ld -t y p e m a c h in e s , w it h its a d d e d p a t e n te d a d v a n ta g e s , w h ic h p rev en t fr e q u e n t “ b r e a k in g -d o w n ” o f d ies, a d d g r e a t ly to th e life a n d d u r a b ilit y o f th e m a ch in e , g iv e a d d e d c o n v e n ie n c e a n d g r e a t e r sp eed to th e o p e r a to r . A l l la r g e C h ic a g o b a n k s, a n d 95% o f th e la r g e N e w Y o r k b a n k s n o w u se o n ly A M E R IC A N m a ch in e s . T h e se b a n k s M U ST use th e m o s t e fficien t m a c h in e — c h e c k c a n c e llin g w it h th em is a la r g e item a n d t a s k in it s e lf. T h e u se o f th e A M E R I CAN, p r a c t ic a lly to th e e x c lu s io n o f a n y o t h e r m a k e, b y th e se g r e a t b a n k s, o ffe r s a d d itio n a l e v id e n c e o f A M E R IC A N s u p e r io r ity . Y o u be y o u r o w n ju d g e . T r y o u t an A M E R IC A N m y o u r o w n b a n k , on a p p r o v a l— c o m p a r e it w it h y o u r o ld -t y p e m a ch in e . W r it e in t o d a y ’ s m a il f o r o u r special offer. THE AMERICAN PERFORATOR COMPANY L argest E xclusive P erforating Machine M anu facturers in Am erica. Main Office and W o rk s, 619-629 W . Jackson Blvd. CHICAGO. • *4 • _z • • • • • • • • • • • • • • 4 • • • • 9 •• •• • •• • .•* !© • • • • • • •• • * • • 0 m9 9 «9 9 99 9 9 999 9 9 99 • ••• • • 99 9 • • •• 9 99 •• • • 9 9 • • • 9 9 9 • 9 9 • • • •• • •• • ••••••• 18 THE Legal NORTHWESTERN O p in ion s BANKER and December, 1918 D ecision s Questions of interest to bankers are discussed in this de Question: A husband life of the mortgage, are to and wife sign a note and partment and any subscriber has the privilege of writing for be held as security for the information and advice on legal subjects. He will receive mortgage and then have a a direct reply from our attorney without fee or expense. A payment of the mortgage. sale and apply the proceeds brief of any subject, involving research in a complete Law Will you also be kind on the note, which still Library, will be furnished for $10.00. In writing for infor enough to advise us as to leaves a balance and the in mation, kindly enclose a 3-cent stamp for reply and address this, if these cream checks Legal Department,” care The Northwestern Banker, Des terest due. He goes and “Moines, can be regularly held un Iowa. enlists in the Army. She is der the provisions of the teaching school and had parted with her husband be mortgage. fore he went to war and is trying to get a divorce. He Answer: Replying to your letter of November 7th, has no money in this bank, but she has a balance in her with reference to the blanket clause in a chattel mort checking account. Now, what I want to know is, gage will say: Quoting from Ruling Case Law, Vol. would I have a right to charge the balance of the note 5, page 403. and interest to her account and release the mortgage, “ At common law a chattel mortgage can only oper since she signed both the mortgage and note and- used ate on property actually in existence at the time of giv the money, living with her husband at that time? ‘ ing the mortgage, and then actually belonging to the Answer: It is always true that the joint makers of mortgager, or potentially belonging to him as an inci a note are each individually liable. You can proceed dent of other property then in existence or belonging against either one you wish to. When the note for to him. The decisions, however, have not been uni which the mortgage is given as security is paid, no form in applying this common law doctrine, and excep matter by which party, the mortgage should be re tions and limitations have been engrafted upon it. For leased. However, I might state that the wife will not example, under the common law it would seem clear have much luck trying to get a divorce while her hus that a provision in a mortgage on a stock in trade that band is in the army. goods purchased to replace those sold shall become Question: W e would like to ascertain if it is legal subject to a mortgage is a nullity at law, and yet it is to cover in chattel mortgage after acquired property. sometimes held that this is not the case, apparently By this we mean not only, natural increase from live making an exception as to this class of mortgages. stock. In our chattel mortgages we insert a clause (This is becoming the rule rather than the exception). which reads as follow s: In equity while a chattel mortgage of after acquired “ I hereby transfer and assign all future increase and property passes no title to such property, it operates additions from and to the above described property un to create an equitable interest in the mortgagee undei til the debt secured hereby is fully paid.” Now, sup thé maxim that equity deems as done that which ought pose we take a chattel mortgage in which the above to be done, the mortgage being deemed to be an exec provision is made. This mortgage covers live stock utory agreement which attaches to the property when and machinery and if the mortgagor now purchases acquired. The equitable doctrine has been rejected in additional live stock and machinery, which is brought some jurisdictions, in so far as the rights of third per upon the premises mentioned in the mortgage, would sons are concerned. When after-acquired property such a clause, as mentioned above inserted in the mort may be mortgaged, the intention of the mortgagor to gage as to such additional live stock or machinery sub cover after-acquired property must be clearly ex sequently purchased, be holding legally? pressed.” We, of course, are assuming that this additional live In the case of Wright vs. Voorhees, 131 Iowa, 408, stock of machinery purchased subsequent to the giv under a clause simillar to the one quoted in your letter, ing of this chattel mortgage was unencumbered when the Supreme Court of Iowa held that such a descrip brought upon the premises of the mortgagor. W e tion fell far short of covering the property, so as to have even noticed in chattel mortgages drawn that all be binding upon third parties. While we would not cream checks from the cows mortgaged during the (Continued on page 23) ■ CHAS. SHULER, President FRANK B. YETTER, Cashier W. H. GE H R M A N N , Vice-President LOUIS G. BEIN, Assistant Cashier CAPITAL S T O C K .......................... $150,000.00 S U R P L U S ..................................... 150,000.00 UNDIVIDED PROFITS . . . . 125,000.00 We invite the business ■. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of Banks, Bankers and M erch ants desiring P rom p t, Efficient and Satisfactory Service . ; December, 1918 THE IN N O R T H W E S T E RN THE BANKER 19 SERVICE OF TH E N A T I O N A N D OF T H E H O M E C O M M U N IT Y W hile men from these Banks, as indicated by Service Stars, were fighting in the cause of Liberty, the officers, directors and employes sought to render service to the nation and to the home community that would in sure better positions for Am erica’s defenders on their return. ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ M E R C H A N T S N A T IO N A L BANK RAPIDS, IOW A ced ar ★ BRAYTON, IOWA ★ C H E R O K E E , IOWA THE ★ ★ ★ S A V IN G S W A T E R L O O , IOWA ★ ★ BANK OF D A LLA S C E N T E R D A L L A S C E N T E R , IOWA ★ ★ W ATERLOO BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H O LS TEIN , ★ ★ PEO PLES STA TE BANK H U M B O L D T , IOWA IOW A ★ B A D G E R S A V IN G S B A N K B A D G E R , IOWA F A R M E R S S A V IN G S B A N K M A S S E N A , IOW A ★ F IR S T N A T I O N A L B A N K ★ H O L S T E I N S A V IN G S B A N K M A R C U S , IOW A ★ B R A Y T O N S A V IN G S B A N K ★ ★ ★ F IR S T N A T I O N A L B A N K ★ ★ Efficiency must abide where such a spirit rules. ★ ★ ★ ★ ★ ★ T H E FA R M ER S BANK E L K H O R N , IOWA THE 20 NORTHW ESTERN ★ ★ ★ ★ ★ F IR S T ★ ★ ★ N A T IO N A L BANK D A V E N P O R T , IOW A ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ THE ★ ★ D E S M O IN E S N A T I O N A L BANK ★ ★ D O D G E, M U SC A T IN E ★ ★ I IN D IA N O LA , IOWA STATE ★ ★ ★ ★ BANK ★ ★ ★ ★ F IR S T N A T I O N A L B A N K ★ M U S C A T IN E , IOWA IOWA ★ ★ ★ ★ ★ F IR S T N A T I O N A L B A N K FORT December, 1918 ★ ★ ★ BANKER ★ ★ ★ ★ ★ S E C U R I T Y N A T IO N A L B A N K S IO U X C IT Y , IOW A D E S M O IN ES, IOWA ★ ★ ★ F A R M E R S S A V IN G S B A N K DOON, IOWA ★ ★ ★ ★ ★ ★ ★ C IT Y , IOWA CEDAR ★ ★ ★ ★ ★ ★ ★ ★ F IR S T N A T IO N A L BA N K FO N D A , IOWA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ★ ★ FARM ERS & M ERCH ANTS S A V IN G S B A N K M T. P L E A S A N T , IOW A RAPIDS, IOWA ★ ★ ★ ★ C E D A R RA PID S SA V IN G S BANK F IR S T N A T IO N A L B A N K M A SO N ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ GEO . M. B E C H T E L & CO. D A V E N P O R T , IOWA December, 1918_____________ T H E N O R T H W E STE RN BA N K E R 21 ■ N I X H E l ;S E R V I C E OF T H E N A T I O N A N D OF T H E H O M E C O M M U N I T Y W hile men from these Banks, as indicated by Service Stars, were fighting in the cause of Liberty, the officers, directors and employes sought to render service to the nation and to the home community that would in sure better positions for Am erica’s defenders on their return. ★ MOUNT AYR I ★ STATE BANK ★ ★ Efficiency must abide where such a spirit rules. ★ ★ M IL L S A M ER ICA N T R U S T & SA V INGS B A N K M O U N T A Y R , IOWA C O U N T Y N A T IO N A L BANK G L E N W O O D , IOW A D E S M O IN ES, IOWA i ★ ★ ★ i N I L E S & W A T T E R S S A V IN G S BANK ANAM OSA, ★ ★ ★ ★ B L U F F S SA V IN G S BANK C O U N C I L B L U F F S , IOWA ★ FA R M ER S S T A T E BANK VO LGA, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^ S E C U R I T Y S A V IN G S B A N K C E D A R RAPIDS, IOWA IOWA CO U N CIL ★ ^ IOWA ★ ★ M ARION ★ ★ COUNTY BANK W EBSTER CO UNTY TR U ST & S A V IN G S B A N K F T . D O D G E, IOWA N A T IO N A L ★ A T LA N T IC ★ ★ N A T IO N A L A TLA N TIC , BANK IOWA K N O X V I L L E , IOWA ★ ★ ★ F IR S T N A T IO N A L B A N K N E W T O N , IOWA ★ ★ ★ P E O P L E S T R U S T & SA V IN G S BANK O S K A L O O S A , IOWA 22 THE IN NORTHWESTERN THE OF T H E N A T I O N BANKER December, 1918 SER VIC E AND OF T H E H O M E COM M UNITY W hile men from these Banks, as indicated by Service Stars, were fighting in the cause of Librety, the officers, directors and employes sought to render service to the nation and to the home community that would in sure better positions for Am erica’s defenders on their return. ★ ★ O TTUM W A ★ ★ N A TIO N A L BANK O T T U M W A , IOW A ★ W IN D O M , MINN. ★ H A R B O R S , MINN. STATE ★ FARM ERS ★ PR A IR IE, BANK MINN. FA R M ER S S T A T E BANK ISANTI, MINN. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DAKO TA MINN. ★ ★ ★ P IER C E S T A T E BAN K P IE R C E , N EB. ★ FIR S T N A T IO N A L B A N K ★ P LA TTE, SOUTH ★ STATE W ABASSO, ★ BANK OF PAR KER S P R A IR IE PARKERS ★ ★ F IR S T N A T IO N A L B A N K ★ C O M M ER C IA L S T A T E BA N K TW O ★ Efficiency must abide where such a spirit rules. A M ER ICA N LONG ★ ★ STATE BANK PIN E, N EB. December, 1918 THE NORTHWESTERN LEG AL OPINIONS AND DECISIONS. (Continued from Page 18) dispute the fact that it might be binding between the parties as a security for the debt, yet it could not be binding as to third parties, because the description would be insufficient to give them notice. At to mort gaging the cream checks from the cows covered by the mortgage, the same criticism would apply, because the description would be insufficient to be binding upon third parties. The rule that things having neither an actual nor potential existence are not the subject of mortgage, would seem to apply in the case of the offspring of animals, and live stock, the rule being that the mort gage cannot cover the off-spring of animals which were not conceived before the date of the mortgage so as to affect the rights of third persons, although such a mortgage may be valid between the parties. Such a mortgage operates only as an agreement to give a lien upon the offspring. W e would therefore say that the clause in your mort gage is of little avail as to third parties, altho you could probably seize, the property after acquired and sell it under the mortgage, yet you would have no recourse if the property were sold to third parties. Question: A young man died here recently without leaving a will. He was renting his father’s farm, and it appears as though his father, when he first rented the farm to him last year, sold him all of the personal prop erty, including farm machinery, cattle, etc., for the op eration of the farm. He, however, did not receive any payment for this property, nor did he receive a note. Besides this personal property the deceased has a small amount of coupon Liberty Bonds, some personal notes and a small amount of War Savings Certificates, the latter, of course, being made out in his own name. All of the personal property which the young man owned was, of course, sold to him by the father who did not receive payment therefor, nor has he anything to show BANKER for having this money due to him by the deceased. Now, as we understand it, the father would inherit whatever property the young man left and in view of these circumstances it would not be necessary for the estate of this young man to go through court, which would entail more or less expense. W e thought prob- PR ICE COM PLETE, $3.50 The Heinz Interest and Discount Time Teller W h a t d a te is th ir ty , s ix ty , n in e ty d a y s o r s ix m o n th s a f t e r d a te ? I f a n o te is a n te d a te d — h o w m a n y d a y s ’ in te r e s t fr o m to d a y to m a t u r it y ? H o w m a n y d a y s fr o m J a n u a r y 7th to M a y 1 st? H o w m a n y d a y s ’ in t e r e s t on a n o t e d a te d J a n u a ry 15th, d ue th r e e m o n th s t h e r e a ft e r ? H o w d o y o u fig u r e th e d a y s o f a c c r u e d in t e r e s t to d a te ? A l l su ch e v e r y - d a y b a n k in g q u e s tio n s a r e t o ld a t a g la n c e b y th e H e in z T im e T e lle r. T h e d a ily u se o f th is c o m b in a t io n T im e T e lle r a n d d e s k m e m o c a le n d a r w i l l r e lie v e y o u o f th e b u rd e n o f m e n th l c o m p u t a t io n c o n c e r n in g “ tim e .” O rd er 1919 issu e in t o d a y ’ s m a il o n te n d a y s ’ a p p r o v a l. Edwards & Deutsch Lithographing C o. 2310 South Wabash Avenue, Chicago Continental and Commercial National Bank OF CHICAGO Capital, Surplus and Undivided Profits, $37,000,000 OFFICERS G e o r g e M. R e y n o ld s .................................. President W illia m T . B r u c k n e r .V ic e -P r e s id e n t A r th u r R e y n o l d s ......... V i c e -P r e s id e n t J o h n R . W a s h b u r n .. .V ic e -P r e s id e n t R a lp h V a n V e c h t e n .. .V ic e -P r e s id e n t W ils o n W . L a m p o r t .................... C a sh ie r A le x . R o b e r t s o n ......... V ic e -P r e s id e n t H a r v e y C. V e r n o n . .A s s is t a n t C a sh ier H è r m a n W a ld e c k . . . . V i c e - P r e s i d e n t G e o r g e B. S m i t h .. .A s s is t a n t C a sh ier W ilb e r H a t t e r y . . . .A s s is t a n t C a sh ie r J o h n C. C r a f t ................ V ic e -P r e s id e n t H. E r s k in e S m ith . .A s s is t a n t C a sh ier D a n N o r m a n ..............A s s is t a n t C a sh ie r G e o r g e A . J a c k s o n .A s s is t a n t C a sh ie r R , G. D a n i e l s o n .. .A s s is t a n t C a sh ier J o h n F.. C r a d d o c k .M g r . C r e d it D ep t. J os. M c C u r r a c h . .M g r . F o r e ig n D ep t. Accounts of Banks, Bankers, Manufacturers, M erchants and Individuals Invited Continental and Commercial Trust and Savings Bank Capital, Surplus and Undivided Profits, $9,500,000 Trust, Savings and Bond Departments OFFICERS G e o r g e M. R e y n o l d s . . . .C h a irm a n o f th e B o a r d o f D ir e c t o r s C h a rle s C. W il l s o n .................... C a sh ier D. E d w a r d J o n e s .................................... A r th u r R e y n o l d s ..................P r e s id e n t ..................A sst. M g r, S a v in g s D ep t. J o h n J a y A b b o t t ........... V ic e P re s id e n t W illia m P. K o e f ....................S e c r e t a r y E v e r e t t R . M cF a d d e n A sst. S e c r e t a r y R o b e r t J. H e r c o c k . . . . A sst. C a sh ie r D a v id R . L e w i s ..............V ic e P r e s id e n t E d m u n d J. C la u s s e n .A s s t. S e c re ta r y A lb e r t S. M a r t in ........... A sst. C a sh ie r L o u is B. C l a r k e ............. V ic e P r e s id e n t J o h n P. V . M u rp h y ............................ G e o r g e A l l a n ..................A sst. C a sh ie r H e n r y C. O lc o tt .................................... .............................M g r. S a v in g s D ep t. T h o m a s E. M c G r a t h .. .A s s t . C a sh ie r ................V . P. a n d M g r. B o n d D ep t. The Capital Stock of this bank is owned by the Stockholders of the Continental and Commercial National Bank of Chicago. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 23 * 24 THE NORTHWESTERN ably it would be legal for the father to simply take charge of the property left by his son, pay the bills and retain whatever would be left of the estate. Answer: There probably would be no very serious legal complications arise if his father took over the property as you suggest, but I believe it would be the safest to have the estate administered upon. There would be no very great expense attached to it, and there would be no chance then of any claims coming up later against the father. The father should make ap plication to be appointed administrator, and he should then present his claim for the amount due on the per- BANKER December, 1918 sonal property sold to his son. Then during the year for administration, the father could sell off the personal property as he saw fit and make report of such sale to the court. Notice of administration should, of course, be published, and any claims against the estate, whether of the father or of some outsider, should be filed in the regular way. It would not be absolutely essential from a practical standpoint to have this estate administered upon, but it would be the only “ legal” way to do it. Question: The writer has been nominated as execu tor of a will which will be probated within the next few weeks. The deceased has more or less money on sight deposit in banks which naturally is not drawing inter est. As I understand it, the writer as soon as he is qualified as executor may draw this money out and handle it as he sees best for the estate. Answer: As soon as the will is probated and you have qualified as executor, you are vested with full power to handle the money which the deceased had on deposit as you may see best for the estate, subject to the orders and directions of the court. The executor is always under the direction of the court, and it is a safe rule to act only under specific directions of the court. N O T W IT H S T A N D IN G ! Elements o f Convenience in “ A .B .A .” Cheques Although the government has curtailed building operations to a large extent, the Fisher-Morris Com pany, Charles City, Iowa, advise us that they have had a very satisfactory business this year, and that they have equipped a great many banks with new fixtures. The Fisher-Morris Company are old reliable manu facturers of bank equipment. They have a thorough organization of trained help; they have a large, strict ly up-to-date plant, and have had forty-eight years ex perience in building high-grade bank, office and store fixtures. Among the banks recently completed by them, who have put in very complete outfits, we might mention the Astoria State, Astoria, S. D .; Skagit County Trust & Savings, Mt. Vernon, Wash.; Citizens State, Postville, Iowa; Middlewest Trust Co., Valley City, N. D., and City National, Mason City, Iowa. At the present time they are building fixtures for the Security Trust &, Savings, Charles City, Iowa; Farmers & Merchants, Cooperstown, N. D .; First Na tional, Fulda, Minn.; Security State, Waseca, Minn.; Hartington National, Hartington, Neb.; Peopled Sav- FOURTH: Available any day, any hour. “ A .B .A .” Cheques can be used in payment of hotel and other expenses of the traveler at practically any hour of any day. That is, the holder does not have to wait for banking hours to get cash in exchange for his “ A.B .A .” Cheques, as he would if he carried a letter of credit or drafts. “ A .B .A .” Cheques are a c cepted as though they were actual money, the acceptor depositing them later at his bank. Bankers T rust Company NEW YORK CITY Member Federal Reserve System Agent for issuance of A merican Bankers A ssociation T ravelers * C heques PEOPLES TRUST & SAVINGS BANK E stab lish ed 1893 CLINTON, IO W A CAPITAL, $300,000.00 — SURPLUS, ALL EARNED, $300,000.00 — DEPOSITS, $3,800,000.00 Offers the facilities and services o f a live, up-to-date banking house, fully equipped and amply capitalized to handle intelligently and efficiently every branch of legitimate banking. COMMERCIAL https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis — SAVINGS — SAFE DEPOSIT — TRUST Accounts from banks in its territory, and collections receive the special attention of an officer of the bank W . W . COOK J. H. ING WERSEN C. F. ALDEN Cashier President V ice President J. L. BOHNSON, C. S . HARRIS and W . S . GARDNER A ssistan t Cashiers December, 1918 THE NORTHWESTERN ings, Marengo, Iowa, all of which will be installed as rapidly as it is possible to complete them. They also have contracts for several additional out fits which will be constructed as soon as those under way have been completed. BANKER C. H. EIGHMEY, President W. M. Hetherington, Vice-Pres. J. COLLIER, Vice-Pres. C. 25 H. A. KOESTER, Cashier Capital - - - - $200,000 Surplus and Profits, $200,000 First National Bank DUBUQUE, 10WA Accounts of Banks Solicited. J. K. D E M IN G President Write Us for Terms JAMES M. BU R C H V ice-President H E R M A N N ESCH EN Cashier THE SEGOND NATIONAL BANK AND DUBUQUE SAVINGS BANK DUBUQUE, IO W A O R G A N IZ E D 1 8 7 6 OFFICERS AN D DIRECTORS ARTHUR REYNOLDS President Continental & Commercial Trust & Savings Bank, Chicago. Arthur Reynolds, vice president of the Continental & Commercial National Bank, Chicago, of which his brother, George M. Reynolds, is president, has been given the presidency of the newly consolidated Con tinental Trust and the Hibernian Banking Association, an $80,000,000 concern. Mr. Reynolds has made rapid progress ever since his entrance into Chicago banking circles. J. K. D E M IN G President H E R M A N N ESCHEN Cashier JAMES M. BU R C H V . P. Farley & Loetscher M fg. C o. C H A S. H. B R A D L E Y Bradley Bros. F R A N K BELL Capitalist J. T . C A R R Secy-Treas. Carr, R yder & Adam s C o. G E O . W . KIESEL Hurd, Lenehan & Kiesel J. J. ROSH EK R osh ek Bros. C o. Reserve A gents for National Banks United States Depositary Combined Resources - - $3,000,000.00 2-22 The above symbol represents the “ transit num ber” assigned to The National City Bank of Chi cago. It is as distinctive as the service of the Bank for which it stands. If you are considering opening or changing your Chicago account, we would like to tell you about our service. The National City Bank of Chicago https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D AVID R. F O R G A N , P R E S I D E N T F. A. C R A N D A L L , V IC E P R E S I D E N T Country Bank Division 26 THE NORTHWESTERN BANKER December, 1918 Increased Use of Machines By George Frank Jones Readers'of The Northwestern Banker will be Interested The increased u s e o f it is not feasible to attemjtt labor-saving machines for in this brief survey of the field which is being developed to cover it in a single ar very rapidly among the banks, for the saving of human the handling of office detail labor through the introduction of machine methods. ticle. In succeeding issues has been especially note of The Northwestern Bank worthy in recent months. The shortage of help has er we shall endeavor to present helpful articles on va caused bankers and business men universally to seek rious features of such equipment and the service they relief through the introduction of machine methods. are designed to render. There are many banks that Much of the clerical work is now performed upon would be benefited by installing mechanical equipment machines, which secure increased speed and accuracy to replace hand work and others that would be bene and make it easily possible to produce several copies fited by replacing old machines with the latest models. at one writing when desired. The use of carbons has In every department the change from hand to ma become practically universal and through this means chine methods may be accomplished with practically a vast amount of labor is saved and countless errors no change in the system under which the routine of are prevented. the bank is handled. It is a far cry from the old days of longhand corre President Eliot, of Harvard, once said that no man spondence to the efficiency of the modern bank, other should be employed at a task which a machine could financial institutions or offices. do better. This idea has met a hearty response among The progressive character of bank management has the bankers of America and almost without exception found universal expression in men in banks are doing the the adoption of mechanical jobs which machines cannot aids to the execution of office do and leaving the details to “ The banker is quick to realize that a ma detail. Nearly every item of be handled with the aid of chine which réturns the original investment office equipment has found its up-to-date mechanical equip within a few months and saves a definite first market among the banks. ment. amount of labor over a long period of years is So great has this field become certain to prove a sound investment. The re The maker of office devices quirement of accuracy, which is the first essen that hundreds of traveling has sometimes in the past tial in all financial institutions, also makes the salesmen call upon banks ex made the mistake of pushing introduction of mechanical equipment espe clusively. his appliance out on the mar cially desirable.” The banker is quick to real ket before it was perfected. ize that a machine which re The result was general dis turns the original investment satisfaction and in some cases within a few months and saves a definite amount of practical death to a really meritorious article. No labor over a long period of years is certain to prove manufacturer should experiment on his customers— a sound investment. The requirement 'of accuracy, least of all upon a banker, who is an excellent judge which is the first essential in all financial institutions, of values. The experimental work should be done and also makes the introduction of mechanical equipment the article should be advanced to the practical stage especially desirable. and thoroughly proven before it is placed upon the The ledger posting machine has come into almost market. Then the advertising and the effort of the universal use and likewise the check protectors, check sales force will produce the largest possible results, perforators, change makers, adding machines, address because they will have the advantage of good words ing equipment, envelope sealers, stampers and other from satisfied customers, in every territory where the devices which promote efficiency and secure larger re article has been introduced. sults, without permanently increasing the force of em The service rendered to banks by supply houses is ployes. also an important field. Specialization has taken the The field of bank equipment is a very broad one and place of scattered effort, in the field of printing, litho- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Your Chance We always have in our possession several sets of second hand bank fixtures which we offer at so low a price that you can always dispose of same without a loss to you. If you are opening in a temporary building, or even for permanent use, these will make splendid fixtures at about one-third cost of new equipment. Get the description o f these outfits—it is worth your while. M cNam ara-Ken worthy Co. Des Moines, Iowa. December, 1918 THE NORTHWESTERN BANKER 27 RUSH! The war is over. We are about two years be hind in our improve ments. A large amount of labor will be at lib erty and it is therefore essential that all banks in this territory should make quick decision as to their remodeling and building work. If this is done it will assure an unlimited prosperity. If it is not done it may mean a disturbance in our business and finan cial affairs. It is there fore essential that you SEE— THE LYTLE COMPANY, Sioux City, Iow a J. A. RAVEN, President ARCHITECTS AND ENGINEERS OF COMPLETE BANK AND OFFICE BUILDINGS With reference this work. to We have work second to none in this territory. We handle your work en tirely. Our archi tectural work is of the , highest grade and our carrying out of the completed work speaks for it self. The two cuts we here show are the exterior and in terior of the First National Bank Iowa Falls. of A crea tion that the bank ers of Iowa Falls claim we handled for them a n d saved them at least $12,000, It is worth your time and money to see us https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 28 THE NORTHWESTERN W e h a v e rea d y for Im m e diate Shipm ent Check Files and DEPOSIT TICKET FILES both in wood and steel. W e have guides, indexes and supplies for all m akes of cab inets. Despite the scarcity of these sup plies w e have an excellent assortment. S a fe ty D e p o sit B o x e s W e have a number of customers who are on the market for second-hand Deposit Boxes. If your bank has a surplus of boxes, we can sell them for you to good advantage. Bank Printers P w a c T t i /> Loose Leaf Devices and Stationers I l U L l I D 1 U 9 * , I t 1 C * and Blank Books 317-319-321 Locust Street DES MOINES, IOWA BANKER December, 1918 graphing-, blank books, loose-leaf binders, filing sys tems, supplies and related equipment. The specialist now serves the banker, regardless of distance, much more satisfactorily than the small local printer or dealer who attempts to handle everything and spe cializes in nothing. The demand on every hand is for efficiency. The man who knows gets the business. The man who de livers the goods gets the repeat orders. The banker wants service and he is willing to go some distance to secure it. The man who wants the banker’s business should not promise more than he can deliver. Disappoint ments quickly break business relations, but the man whose goods are right, whose deliveries are prompt, who makes good upon his guarantee, can depend upon an increasing business year after year, from the finan cial institutions of the country, which represent prob ably the most desirable single field to which a manu facturer may look for a market. There is just one problem to solve in opening this big field—the problem of proving the merit of the merchandise or service— the problem of convincing the banker that the proposition is a real time or labor saver and that it will show a profit upon the invest ment. L. N. MARSDEN DIED OF INFLUENZA. L. N. Marsden, cashier of the Farmers State Bank, of Jasper, Minn., died recently of influenza. About a year ago Mr. Marsden relinquished his position as as sistant cashier with the Rock County Bank, of Luverne, Minn., and became associated with the Farmers State Bank, of Jasper, Minn., taking the position of cashier. While his stay with the bank was only one year, the directors and officers as well as the custom ers feel they have lost a friend and worthy business associate of many years’ acquaintance. Join the Red C ro ss Protects Your Stationery— Saves Time. Currier Steel Stationery File Buy quality office furniture for your office or banking room from STOW & DAVIS FURNITURE CO. GRAND RAPIDS, MICHIGAN FITS IN TH E D E SK D R A W E R O R FURNISHED W IT H M ETAL COVER Holds envelopes, 1ong and short legal and let ter, carbon and copy, stamp box also. Re movable and adjustable trays. W rite fo r C a ta lo g CURRIER-McCORD COMPANY M in n ea p o lis, M innesota AMERICAN FIXTURE COMPANY Kansas City, Missouri C O M PLETE E Q U IP M E N T FOR B A N K S | N e w Building Fixtures S‘«llllllllllUlllllllllllllllinillllllllllllllllll«IIIIIM IIIM ^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Decorations Remodeling Floors Lighting Furniture Interior W o o d w o r k 1 | December, 1918 THE NORTHWESTERN BANKER 29 giiiiiHiiiniiiiiiiiiniiiiiiiiiiiiiiiiiHiiiuiiiiiiniiiiiiitiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiniiiN Ü glllllllllll!ll!lllllllllllllllllllllllllll!llllllllllllllllllll!llllllll!llllllllllll|lllllllllllll|lll!l||ll||l||||!l|||||||||||l||||!ll!l|||||||||||l||||!l|||||||NIIIIIIIIIII!lllllll!llllllllllllllll|llllllllllllllllllllllllll!lll!ll!|]|||IIIIIIIIIIIIII!illllllIIIIIIII^ = II Building Restrictions Removed || M odernize Y ou r Bank N ow !| || I! || 11 11 || || || || || Be first on the job—have your plans carried out immediately— instruct the old reliable Fisher-Morris Company, to modernize your banking home—gain additional prestige and leadership in your territory. During the last 48 years Fisher-Morris has grown to be the largest bank fixture company. W e have equipped complete with new fixtures throughout more than 3,000 banks. Each year we modernize more banks than any other concern, so our experience; is supreme. Our facilities are the greatest, the most complete. The FisherMorris plant at Charles City is the largest bank fixture plant in the West. Our staff is comprised of experts in bank interiors and equipment. Tell us when to send a capable man, to talk over your plans, at your bank. W e will serve you promptly—from first to last— 100% efficiency. ¡1 Fisher-M orris Company Bank F ixtures H eadquarters for H alf a Century ¡1 Charles City https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - Iowa These and Many Other Banks Recently M odernized by Fisher-M orris Company Security Trust & Sayings, Charles City, Iowa. Security State, Waseca, Minn. Middle west Trust Co., Valley City, N. D. First National, Bancroft, Nebr. Commercial State, Britt, Iowa. Astoria State, Astoria, S. D. Franklin County State, Hampton, Iowa. Aetna State, Oelwein, Iowa. City National, Mason City, Iowa. Farmers State, Charter Oak, Iowa. State of Portsmouth, Portsmouth, Iowa. Friend State Bank, Friend, Neb. Union National, Ames, Iowa. Skagit County Trust & Savings, Mt. Vernon, Wash. Stockmen’s State, Faith, S. D. First National, Pipestone, Minn. Citizens State, Postville, Iowa. Farmers State, Emery, S. D. Valparaiso State, Valparaiso, Nebr. Farley State, Farley, Iowa. State of Tulare, Tulare, S. D. . Fertile Bank, Fertile, Iowa. State of New Richland, NewRichland, Minn. Crooks State, Crooks, S. D. Commercial Savings, Mitchell, S. D. tiohman State, Chinook, Mont. Winnebago State, Winnebago, Minn. Farmers Savings, Frankville, Iowa. Farmers State, Bartley, Nebr. Farmers State, Steamboat Rock, Iowa. Farmers State, Chester, S. D. Sibley State, Sibley, Iowa. First National, Lawler, Iowa. Dakota Trust & Savings, Sioux Falls, S. D. First National, Humboldt, Iowa. Commercial, Emmetsburg, Iowa. Peoples Trust & Savings, Port Byron, IU. Com Belt National, Scotland, S. D. Dollar Savings, Niles, Ohio. (1 1 § =a g g =g §j g g = =g g s H= g = g g § = || i g g | A F T E R J A N U A R Y 1ST T H E F I S H E R C O M P A N Y . Illllllllinillllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllli; i 30 THE NORTHWESTERN December, 1918 BANKER Boost Live Stock Insurance By C . A . Robbins Moines. This company The live stock insurance was organized prior to the business is in its infancy change in the law, and has and is not well understood been doing business since by the public generally. This is not surprising for it has only been made pos February 5, 1914. This company writes pure bred sible in its present scope by recent legislation. In and grade cattle and horses and thoroughbred hogs, Iowa, for instance, it was not permissible for an old but not ordinary comnjercial hogs. In addition to the above mentioned companies, there line stock company to insure live stock, generally, against loss by disease until the Acts of the Thirty- are perhaps a half dozen other old line companies, or seventh General Assembly became effective on July ganized in other states, doing a live stock insurance 4, 1917, by which it is provided that such companies business in the field covered by the Northwestern shall have power to “ Insure against damage by theft, Banker. It goes without saying that any policy of insurance injury, sickness or death of animals and to furnish vet in a substantial old line company is an asset which erinary service.” Ch. 429—Acts 37th G. A., Sec. 16. The corresponding section of the previous law per adds materially to the credit of the holder. The Banker and the Loan Company will frequently mitted the insurance of cattle, horses and other live stock against loss or damage by accident, theft, etc., require the farmer obtaining a loan to accompany the and further provides: “ And Stock Companies may in mortgage with a policy of insurance covering improve ments. Also wheii the loan sure horses and registered cat covers city property, stocks tle against loss by disease or of merchandise, crops and the accident.” Sec. 1709 Supple “ It g o ^ without saying that any policy of like, insurance is usually re ment to the Code, 1913, Subinurance in a substantial old-line company is an asset, which adds materially to the credit quired as collateral. Not in Division 4. of the holder. Live-stock insurance is not only frequently policies upon the Still earlier laws authorized a boon to the banker, but is of greater benefit lives of individuals are made insurance against loss by fire, to the tenant farmer, who by its means may the sole security upon which lightning and accident, but as be able to obtain a loan he might not otherwise obtain.” substantial loans are made to previously stated, the insur their holders. ance of live stock, generally, In the November number against loss by disease has of the Northwestern Banker was published a list of only been lawful or permissible since July 4, 1917. Since this change in the law two new live stock im about one hundred names of Des Moines business men surancef companies have been organized in Iowa for with the amount of life insurance carried by each. The the purpose of taking advantage of its provisions, and list was headed by E. T. Meredith and C. H. Rosen are now doing business under this new law—the Na baum with $200,000.00 each, and finished with J. Dav tional Live Stock Insurance Company, and the Farm idson, Z. C. Thornburg, L. C. Kurtz and Oscar Lofers Live Stock Insurance Company, both of Des quist with $25,000 each, and the others ranging be Moines, Iowa. The former company completed its or tween these amounts. And finally in the October num ganization December 10, 1917, and obtained its permit ber of the Northwestern Banker appeared an article to write insurance January 15th of this year, and'in entitled “ Profit in Automobile Insurance,” written by sures hogs only. The latter company completed its H. W. Kenyon of the Bankers Automobile Insurance organization August 15, 1918, and obtained its permit Company, of Lincoln, Nebraska, the last sentence of to write insurance September 9th following, and in which reads: “ With the knowledge that his patron carries a Bankers’ liability policy on his car—or better sures cattle, horses and hogs. The only other old line Iowa company is the Iowa yet—a complete coverage policy, the Banker is much State Live Stock Insurance Company, also of Des more willing to entertain applications for loans or exMr. Robbins is president of the Farmers Live Stock In surance Co., Des Mtoines, and gives in this article many interesting facts about this new form of insurance, show ing why bankers should favor it. gnHiiiiiimiMiiminniMiNinniiiHiniiiiuinminniiiiiiinnininiiiiiiiiiiiiiiiiimiiiM^ fj N e w Double Indemnity and Total Disability Policies ii 1i We have just placed on the market a policy that pays double the face amount of the policy in i! event of accidental death and monthly indemnity in event of total disability. ¡I i I ~I Part Time and Full Time Representatives Are Needed by Us. S=1 ¡I I I 1I For Full Particulars Write ii Guaranty Life Insurance Company L. J. D ougherty, S ecy, and G en’ l M gr. L ^ m n m i i i i i i i m i i M m i i M i i m i i i i i m i i i u i i i i m u ill ll l l l l l u i lll llllll l l lH IIllllll llllll lllllM I I I I I I I I I S U im m ill llllll im illll llllll lllll llim ill lllllW ^ ^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Davenport, Iow a ii j! December, 1918 THE NORTHWESTERN tensions of credit.” If it is true, as demonstrated above, that the insur ance policy covering- the farm buildings and crops of the farmer, the store building or stock of merchandise of the merchant, or the lives or automobiles of each and all, adds materially to the strength of the holder’s credit, then why should not a similar policy covering BANKER 31 IOWA NATIONAL FIRE INS. CO. 1018-1024 V a lle y N ational B ank B ld g. DES MOINES, IOWA JOHN L. BLEAKLY, President F. L. MINER, C. M. SPENCER, Vice Pres. Secretary C. S. V A N CE, FRANK P. FLYNN, 2nd Vice Pres. Treasurer Capital Assets Ja n . 1, 1918 $500,000.00 $836,570.87 P O L IC Y H O L D E R S W ill Patronize an IOW A Com pany Guaranteed by IOW A Capital Managed b y IOW A Men IO W A B AN K E R S R ecogn ize the Advantage o f P ro tecting IO W A C R E D IT w ith IO W A IN SU R A N C E R elia b le A gents W a n te d In Every City in Io w a . W rite to the Com pany or H. P. ROSSER, Supt. of Agents CHAS. H. NUTT Assistant Cashier, Iowa National Bank, Des Moines. Chas. H. Nutt has been elected an assistant cashier of the Iowa National Bank and Des Moines Savings Bank of Des Moines, Iowa. Mr. Nutt started his banking career at Cedar Rap ids, working the first two months for nothing, but proving his ability to such an extent that he joined the Iowa National about six years ago, and has for some time filled the position of chief clerk. His election as an assistant cashier of the largest bank in Iowa is bringing him hearty congratulations from a host of friends. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of Bo s t o n . M a s s a c h u s e t t s O r g a n iz e d in 1862 u n d e r th e la w s o f M a ssa ch u se tts. ASSETS LIABILITIES SURPLUS a $156,466,359.38 $147,735,472.02 $ 8,730,887.36 ' Its F inancial Strength and H istory a p p e a l to Bankers p a r t ic u la r ly a t th e s e tim e s. W r it e u s f o r in fo r m a t io n c o n c e r n in g o u r a t t r a c t iv e m e th o d o f s e r v ic e t o a g e n ts . H A R R Y S. H A SK IN S, 701-3 Hippee B ld g. General A gen t D es M oines, Iow a THE 32 NORTHWESTERN MR. COUNTRY BANKER How would YOU like to help US help YOU make some money? We are putting out the best accident and health policy for farmers you ever saw. No assessments, no mem bership fee, no five-year notes—Just a clean, straight contract, backed up with a quarter of a million dollars in assets. W e can help you sell it. Ask us about it, Bankers Accident Insurance Co. “ SP A N IS H IN F L U E N Z A .” Over a Million Dollars Paid in Iowa Claims. G eo. J. D e lm e g e , P r e s id e n t P . C. W a t e r b u r y , V ic e P re s . T h e o . F . G r e fe , S e c r e t a r y H o m e r A . M ille r, V ic e P r e s . W . P . H a b e l, A s s t. S e c’ y ¡Sim on C a sa d y , T r e a s u r e r H e n ry , A lb e r s o n & H e n r y , A t t o r n e y s Cash Capital ........................................ $500,000.00 Net S u rp lu s......................... . . . . . . . •. 352,347.99 Surplus to Policyholders................... 852,347.99 A home company, owned by home people, managed by experienced and conservative un derwriters and able financiers. A C E N T R A L -W E S T E R N C O M P A N Y FO R C E N T R A L -W E S T E R N P E O P L E . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis December, T918 the farmer’s livestock, which is of greater value, and, in case of hogs especially, subject to greater hazard, also add materially to the strength of his credit, and thus justify the banker in making a loan he would not feel safe in makipg without such a policy as collateral ? This class of insurance is not only a boon to the banker, and should be boosted by him, but is of greater benefit to the tenant farmer, especially the hog raiser, who by its means may be able to obtain a loan he might not otherwise be able to obtain, and thereby “ bridge over” ,and not be required to sacrifice his hogs or other stock when not ready for market, because of his inability to obtain such needed loan. Des M oin es, Iow a Capital $100,000.00. BANKER The Spanish influenza is “ over here,” and through careless coughing, sneezing and spitting it has traveled to nearly all of our camps and cities, attacking thou sands of our citizens, and giving death sentences in an alarming percentage of cases, says the Northwest ern National Life Bulletin. Health boards everywhere have taken active steps to check the epidemic by warning people: (1) To sneeze, cough or expectorate in cheese cloth or handkerchiefs which can be sterilized or burned: (2) T o avoid crowds indoors, in street cars, the aters, churches, etc.; (3) To sleep and work in clean, fresh air; (4) . To keep the hands clean, and to keep them away from the face; (5) T o eat plain, nourishing food, and avoid alco holic stimulants; (6) To keep the feet warm and dry; wet clothing is dangerous, and must be removed as soon as possible. A physician is needed to watch the course of the disease and guard against complications; but increase your resistance by (1), rest in bed; (2), plain, nourish ing food; (3), fresh air; (4), your physician’s sympto matic medical treatment. The disease runs its course in about five days, but realize that you have fought an illness which has rid dled your power of resistance and has left the body a prey for complications and other infections, such as pneumonia. Remember your builders of resistance: Rest in bed; nourishing fo o d ; fresh air. Employ them for several days after all symptoms have disappeared, and then if you must return to your daily routine work, go back with a prayer and Strict precaution. Avoid all excesses, prolonged fatigue, either bodily or mental, and procure adequate sleep. W e are offering “ a bankers’ plan” for securing and taking care of new business that is especially attractive and profitable. The banker is always looking for every possible source of honorable profit. That is what makes for a successful banking busi ness. Here is a brand new avenue not heretofore presented. You will lose some legit imate profit not to look it over. W e are at your service. Great Western Accident Insurance Co. Des Moines, Iowa December, 1918 THE NORTHWESTERN All this is very essential in order to escape the most widespread and fatal of all acute diseases—pneumonia — which has become the “ Captain of the Men of Death.” BANKERS IN SERVICE b is iiR A ir c E O F 33 The Bankers Automobile Insurance Co. NEBRASKA Authorized Capital IOWA. Anamosa, Niles & Watters Savings—W. E. Schreiber, as sistant cashier, and Lloyd Lowery, bookkeeper. Atlantic, Iowa State—Cecil Skipton. Atlantic, The Whitney— Raymond P. Dungan, Oscar A. Otto. Cedar Rapids, Security Savings—'Charles G. Vavra and R. D. Brown. Council Bluffs, Council Bluffs Savings—John M. Jurgens, Edwin H. Spetman, Lloyd R. Goldsmith, John F. Kelly. Centerville, Wooden Savings— Capt. Robert E,; Wooden, Sergt. John C. Wooden. Davenport, George M. Bechtel & Co.— Fifteen men, 14 of whom have received commissions. Fort Dodge, Security Trust & Savings—W. F. Carver, vice president; Keith H. Burdick, teller. Fort Dodge, Webster Co. Trust & Savings—Capt. Dan G. Stiles. Glenwood, Mills County National—W. C. Rathke, vice presi dent. Harlan, Shelby Co. State— L. A. Kuhl, assistant cashier. Independence, Peoples National—Lieut. E. E. Everett, John S. Luther. Keokuk, Keokuk Trust Company—Lieut. Leo G. McKinley. Knoxville, Marion County National—W. G. Vander Ploeg, Capt.. Fred P. Woodruff, Sergt. L. G. Dowell, Sergt. Don J. Lukin. Massena, Farmers Savings—A. J. Cruise, assistant cashier. Mount Ayr, Mount Ayr State— Harry A. Laird, Harry V. Hull, assistant cashiers. Red Oak, First National—Chas. S. Dalrymple, Vernon Woods, collection clerk. Rippey, First National— Sergt. James Ralph Shoemaker. BANKER $ 500,000 A western company, meet western conditions. organized W rites Fire, T h eft, Tornado, Col lision, Property D am age and Public Liability f o r one or three years. Live wire Agents wanted in the fol lowing states: Nebraska, Kansas, Texas, Iowa and South D akota. S ta n d a rd P olicies Special R a tes T h e special c o m b i n a t i o n p o l i c y (standard forms of coverage) at special rates for farmers’ cars is the biggest sel le r in th e h i s t o r y o f A u t o m o b i l e Insurance. C o m p a n y IO W A Paid-up Capital Stock $ 2 0 0 ,0 0 0 .0 0 Gross Assets October 1, 1918, $ 3 5 6 ,0 0 0 .0 0 The most attractive term proposition in the field; the biggest money-saver for the car-owner and the easiest seller for the agent. Rates and schedules that are simple; easily understood by the agent and the prospect. The best guaranteed protection at reduced rates. The Inter-State in less than three years has become the best and fastest growing company in the business. Get connected with it before your territory is covered. W riting F ire, Lightning, T orn ado, W in d and T h eft. HOME OFFICE: R O C K RAPIDS, I O W A N. HAMPE, President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis to E. A. TONNE, Secretary THE 34 NORTHWESTERN t'lniiiiiiiHiiiiiiiiiiiiiiiiiiiiHiiiiiiiiiiiiiiiiHiiiiiiiii.mimiiiiiiiiiiimiiiiiHHHHinHHiiiiiiiiiiiuiiiiiimimiinmiiiiiiiiiimiHUHHiiHiiHiiiiiiiiiimiiiiiiiiiiiiimHii I I E M O R Y H . E N G L IS H P r e s id e n t JO E L T U TT L E S ecreta ry C A PITA L ONE M ILLIO N | | D O LLARS P a id in F u ll a n d D e p o s ite d in S e c u r itie s w it h I n s u r a n c e D e p a r tm e n t o f I o w a Fidelity and Surety Bonds Burglary Insurance W o rk m e n ’s Compensation Autom obile and Other Public Liability Lines H O M E O F F IC E : 1 I ! i 715 Locust St., Des Moines, 'I o w a A J ¡SCHUNK, M a n a g e r N o r th w e s t e r n B r a n c h , 615-619 S e c u r ity B ld g ., M in n e a p o lis , M inn. JU L IU S B A C H E R , G e n e ra l A g e n t , M e tr o p o lita n B lo c k , M ilw a u k e e , W is . L A W T O N -B Y R N E -B R U N E R A G E N C Y CO., G e n e ra l A g e n t s , P ie r c e B ld g ., St. L o u is , M o. BROW N M A N N & B A R N U M , G e n e ra l A g e n t s , 504 W a ld h e im B ld g ., K a n s a s C ity . | | | | ! | iimiiiiiiiiiiiiimmmimiiimiimiiiiinimiiimiiiiiiimmuiiMiiinmiu- I Farm Loans ■ I Wanted 1 W e have been lending money on farms for more than 50 years, and on Iowa and Eastern Nebraska farms about 30 years, and are especially equipped for prompt closin g of loans through correspondents. Write us for terms. December, 1918 BANKER Volga, Farmers State—Percy E. Sorg, Raymond Lemka. Long Pine, Neb., American State—H. J. Albertsen, Roger B. Buell, Ward L. Jacox. MINNESOTA. Adrian, Adrian State— H. A. Lewis, Jos. L. Lais. Browns Valley, Browns Valley State—A. G. Preston, A. J. Bauer. Janesville, Citizens State—J. F. Byron. Madelia, First National— One in France and one in Navy Yards, Puget Sound, Washington. Minneapolis, First & Security National— 147 in service. Of that number two were killed in action. Two in Y. M. C. A. work, one, Fred Spafford, vice president, in Red Cross finance work. Northwestern National— 82 men in service; two gave their lives. New Ulm, Farmers & Merchants State—Henry A. Dietz, Erwin Schmid. Northfield, State Bank—P . J. Mergen, assistant cashier; A. N. Parsons, bookkeeper. Parkers Prairie, State Bank— One in France, one in officers’ training camp and one in S. A. T. C., at Univ. of Minnesota. SOUTH DAKOTA. Baltic, Dakota State—A. L. Dregseth. Brookings, First National—Ward D. Spatz, Ivan L. Cobel, A. Johns Bjorge, Roy W. Krueger, Paul S. Cobel. Clark, Security Bank—Harold O. Engen, assistant cashier; H. L. Hopkins, president, state manager of United War Work Campaign. Hebron, First National—A. E. Funk, assistant cashier. Humboldt, Farmers State—Alfred Eggert, cashier. Humboldt, State Bank—H. A. Potas, bookkeeper. Miller, First National—JCapt. V. C. Woodruff, Corp. R. G. Bard, A. D. McMahan. . Sioux Falls, Dakota Trust & Savings— C^arl H. Norberg, Carl G. Nelson, Ray L. Wilson, Willis Nettum. POINTERS ON CLOSING. E. C. Budlong, second vice president and agency manager of the Bankers Accident Company, Des Moines, says in one of his Friday letters: “ W ill you wear them or shall I wrap them up for you?” One of our collectors—a shoe merchant— tells me that those magic words have closed more sales for him than any other scheme he has ever worked. Sprung at just the right moment, the wobbly cus tomer gives in and lets the salesman decide for him. He wants the shoes but he hates to say ‘ yes and is ashamed to say “ no.” Many an insurance application has been closed by silently handing the prospect the pencil and saying quietly, “ Sign right here, Mr. Jones,” or by writing out the receipt for the first payment as if confident that the decision has been reached. It would be silly to claim that this method always succeeds but the worst you can get is a decision against you. 1867 1918 AGE STREN GTH S T A B IL IT Y 5 1 Years of Best Service 1 Dime Savings & Trust Co. = = P eoria, Illin ois == M ake The Equitable Life OF IO W A G eorge W . Curtiss Chairm an C h arles E. U lrich P resid en t lllllllllllllllllllllllllllllllllllllllllllilllillilllllllllllllllllillillllll^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Safe and Dependable for Bankers and Their Gnstomers H O M E O F F IC E D E S M O IN E S , IO W A December, 1918 THE NORTHWESTERN FARMERS L IV E STOCK CO. The Farmers Live Stock Insurance Company of Des Moines was incorporated ip December, 1917. Approx imately half of the capital stock has been sold; no at tempt to sell having been made since August 1, 1918, on account of the Liberty Loan drives and other war conditions. The company perfected its permanent organization August 15, 1918, at which time the permanent officers and the board of directors were chosen. The company obtained its license to write insurance in September of the present year, and has now been writing insurance for practically sixty days. During this short period the company has received in premiums approximately $15,000, and has paid in losses $750. The company’s offices are located in rooms 318-320322 Valley National bank building. C. A. Robbins, for seven years assistant attorney general of the state, is the president of the company. I. J. Ketman, for several years a manufacturer of Winterset, is its secretary. A. O. Hauge, president of the Iowa Trust and Savings Bank, and recently elected member of the legislature, is its treasurer. Dr. G. W. Blanche, assistant state veterinarian for several years and a practitioner at Belle Plaine, Iowa, is its chief veterinarian. And Walter H. Bonn, whose office is at 316 Valley National Bank building, is the general counsel for the company. Among the 797 stockholders in the company there are 83 Iowa bankers. W IL L IA M S AND SABIN. John Skelton Williams, Controller of Currency, some time ago issued a statement in which he said that dur ing the first seven months of the current year, there had not been a single National bank failure in any of our 48 states and during the same period there had been failures of State Banks and Trust Companies in fourteen of the 48 states. In the published copy of an address by Charles H. Sabin, president of the Guaranty Trust Company, of New York, before the A. B. A. at Chicago, Mr. Sabin was quoted as saying that 44 states at least re ported no failures of state banks or trust companies for the first seven months of 1918. A few days after the first copy of Mr. Sabin’s ad dress was received, a corrected copy was received by The Northwestern Banker, with the figures changed to 34 states, accompanied by a letter requesting that if reference was made to the address of Mr. Sabin, care should be exercised to use these later figures. BANKER T H E O H AR AO TER COM PANY A N AGENCY With N A TIO N A L F ID E L IT Y by any BANK or BAN KER will PRO VE an •ASSET. Policies BRO AD ER in their coverage, closer co-operation in securing business. A L L claims paid SAME day completed proofs received. Information is valuable. At least investigate, K N OW for yourself the correctness of NA T IO N A L F ID E L IT Y claims. Write the Company. National Fidelity Life OF IOWA Home Office Sioux City, U. S. A. Ralph H. Rice, President P. S.— NO C O M P A N Y in e x is t e n c e s h o w s g r e a te r r e c o r d f o r A C C O M P L IS H E D R E S U L T S and S E R V IC E to p o lic y h o ld e r s f o r a lik e a g e . MORE POWER TO YOU The more push there is behind you the more power you have. W e furnish the push. This push is the help we give our men. No other life insurance company does as much to insure the success of its TPield Force. Ask any Bankers Life man or write BANKERS LIFE COMPANY DES MOINES Service to Policyholders Liberal Policies— Lowest Cost—Promptness in Settlement of Claims Has Made Our Reputation Unexcelled. Stability and Security Guaranteed b y deposits o f over $2,190,000.00 with the S T A T E OF I O W A Excellent Territory in Iowa and other States open to L IV E H U S T L IN G A G E N T S M erch a n ts L ife Insurance C o . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Reg“^ 8& Mo & w f ding 35 THE 36 NORTHWESTERN Wanted— A General Agent IN E V E R Y COUNTY IN IO W A Men without insurance experience, but who have been successful in other lines, will be con sidered for these positions and will be thor oughly trained and instructed. Ambitious men are offered opportunities not available with older companies. This company has the larg est paid-up capital of all life companies organ ized under the Iowa laws. - • W rite to Home Office Des Moines Life and A nnuity Com pany Register-Tribune Bldg. Des Moines, Iowa The New Limited Payment Life Contract It participates annually in profits and limits the yearly premiums (which can not be increased) to the productive period of life. Its liberal and modern provisions meet the needs of the people and its clear and direct guarantees make it a highly favored plan. A spe cial feature is the right of the insured to continue to pay the original prem ium after the limitation has expired, and thus mature the policy for its face value as an Endowment. This is a very convenient and valuable feature which increases the flexibility and adaptabil ity of the contract to your needs. It is all under your control. Banker representatives wanted. National Life Insurance Co. M ON TPELIER, VERM O N T https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKER December, 1918 The address appears to have received considerable publicity in the daily press, which aroused Mr. W il liams’ ire and under date of October 24th, he issued a circular giving the text of 'some spirited correspond ence with Mr. Sabin. Mr. Williams asserts that his office is friendly to state banks and trust companies and Mr. Sabin as serts that he had no intention of misquoting the comp troller. “ H O O VER AND H O O VERIZIN G .” B y C h a rle s J a m es. Herbert Hoover is one War executive who has “ Hooverized” his administration, the producer and the consumer; and as a result of his economics, we have greater wealth today than ever before. And, best of all, “ Hooverizing” has become a habit so fascinating that it is compelling. What Hoover did with relation to War, J. C. Haw kins, owner of the Clipless Paper Fastener Company, some nine years ago did for the business man in his little Clipless Paper Fastener, the machine which has done away largely with clips and pins, their attending wasteful expense arid annoyance in fastening papers together. Not only have the business men of the U. S. A. shown their appreciation of this invention by adopting it, but the machines have been very ex tensively sold the world over. The writer had occasion to step into the office of the Clipless Paper Fastener Company at Newton, Iowa, the other day and was astonished at the business done by this concern in' “ Hooverizing”-' office expenses, and when I was shown the foreign files—letters in every December, 1918 THE NORTHWESTERN language accompanied with orders and sincere ex pressions of appreciation of the device—files extensive enough to do credit to an exclusive export manufac turer and merchant, I would have been impressed with the fact that a prophet hath honor save in his own land, had I not also been impressed by other files of extensive domestic sales. Mr. Hawkins told me, and enthusiastically proved that his machines were being used in large quantities in every city in the world. I BANKER 37 HAWKEYE SECURITIES EIRE INSURANCE CO. (O R G A N IZIN G ) DES MOINES, IOWA Authorized Capital $1,000,000.00 O F F IC E R S AND D IR E C T O R S R . S. H O W E L L , C. M. G A R V E R , P re s id e n t T rea su rer W . S. H A Z A R D , JR ., H . S. B U T L E R V ic e P r e s id e n t S ecreta ry H . C. H A R G R O V E , E. G. DUNN, V ic e P re s id e n t C oun sel LEO T. K E R W IN M e rc h a n t O e lw e in f r a n k M cD a n i e l s C a p ita lis t W o o ls t o c k P . P. S U L L IV A N , B anker B r id g e w a t e r JA S . L . M A N U E L C a p ita lis t B r it t THE CLIPLESS PAPER FASTENER Made by Clipless Paper Fastener Co., Newton, Iowa. said, “ Well, what about Iceland?” and he showed me a cable order for fifty machines and correspondence showing that the customer had been buying machines for that out-of-the-way country for several years. This was a repeat order. One does not need rhetorically worded recommendations to prove appreciation of an Capital $500,000.00 Fully paid up and deposited with Iowa In su ra n ce Departm ent A L B E R T CORDES C a p ita lis t O sa g e H. H. P E TE R SE N B anker L ow den GEO. W . F R Y C a p ita lis t V in t o n J. M. B L A C K B U R N D e s M o in e s Incorporated under the laws of Iowa. W ill be owned, operated and represented by Iowa men, audited and supervised by the State of Iowa with capital and as sets loaned to Iowa citizens on Iowa securities, mak ing it in every sense an Iowa company for Iowa people. Opportunities for live, wide-awake country bankers to act as agents in both the fire insurance and mortgage loan departments. Write for the agency in your com munity. Really knowing the styles worn by gentlemen is but part of good tailoring. W e study the characteristics of each man’s figure, and, with a hundred and one small perfections of cut and fit, give his clothes that indescribable look called S T Y L E — Individual D istin ction . Suits and Overcoats, prices--$35 to A g g r e ss iv e M anagement $75. B r o a d A splendid range of clear cut W o r s teds at $35 to $40. P o l i c i e s C o n s e r v a tiv e U n d e r w r itin g C o n s is te n t S e r v ic e Charter Amended to Allow Increase in Capital to $1,000,000. Stock now being sold. 'Write for Agency to A n a lm o st en d less a rra y o f sm a rt fa b rics await y o u r selection here. A. G. OGLE N I C O L L The XU ilor https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2nd Vice Pres. & G en’ l. Mngr. W ~ Jerrems’ Sons 3 1 5 7 th S t. ' D e s M o i n e s , Io w a THE 38 NORTHWESTERN W e Guarantee to Save Four Premiums O n a T w e n t y P a y P o lic y and G ive D ivid en d s B esid es . Our S erv ic e to P o lic y h o ld e r s m a k es o u r P olicies sell and o u r a gen ts m ake m on ey A Farm Mortgage Behind Every Policy Peoria Life Insurance Co. Peoria, Illinois Protect Your Loans Add to your security on loans to farmer customers by writing a policy of insurance on his live stock. Banker agents wanted. December, 1918 BANKER article—a repeat order is the highest recommenda tion. The “ Clipless” is used to fasten from two to ten sheets of paper together. As applied to filing away letters where you attach the carbon copy reply to the original letter, by this method you avoid adding to the thickness of the files the thickness of a clip or the crimped effect where a pin is used. By actual experi ence it is possible to file 50% more letters in a given space than where clips or pins are used. Another place where the business man has found the “ Clipless” of the greatest convenience is in at taching drafts and checks or memoranda to letters. The postoffice is very much opposed to the use of clips or pins. Many banks use the “ Clipless” to bunch their customers’ checks at the end of a day’s business. The “ Clipless” as a convenience is worth the money many times over. One should be on the ’.desk of every stenographer and bookkeeper. Notice your mail; notice the fastening by the “ Clip less.” Mr. Hawkins has for years had a standing con tract with the Government, the Western Electric Com pany and other concerns for their yearly demands, and I cannot help but revert to the export demand again— orders from Russia, Bombay, India, England, France, and in fact every country, as an evidence of the esteem in which these machines are held. The machine is put out in two types— one in the form of a pair of pliers and the other in the form of a perforator. Either style performs the same fastening, differing only in the mode of operation. Both styles are shown in the illustration, Mr. Hawkins is a crank on efficiency. He has just Every Banker (b etw een 18 a n d 55 years o f age) W h o does some traveling as solicitor, auditor, farm inspector, bond or in surance salesman, should belong to the Iowa State Traveling Men’s Association We will insure hogs. “ Oldest and Best” Farmers Live Stock Insurance Company A ccid en t Insurance at Cost N ever E xceed ed $ 9 .0 0 p e r Y ear W eek ly In d em n ity $ 2 5 .0 0 Authorized C. A. ROBBINS President Capital and Surplus I. J. KETMAN Secretary $1,000,000 A. O. HAUGE Treasurer Death B en efit $ 5 ,0 0 0 ~ $ 1 0,000 Insurance to May 1,1919, for $2.00 (N e w M e m b e rs O n ly ) W rite f o r A p p lica tio n Blank 318 V alley N ation al B ank B u ild in g https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D es M o in e s , Iowa H. E. REX, Sec’y-Treas. DES MOINES, IOWA December, 1918 THE NORTHWESTERN published a little 24 page booklet which so completely calls the turn on inefficient employes that they im mediately get busy and increase their efficiency or quit their job out of contempt for themselves. This little book is worth $1,000, but can be had for the asking, postage prepaid. BANKER Something New— Something Good— W H Y IS IT ? When the cashier enthusiastically describes the proposed improvements to the banking rooms—new fix tures, a new vault; a private room with stained glass windows and velvet curtains dolled up for the ladies, a public conference room; and so forth, and so forth, not forgetting the tuneful chime clock which is to hang over the front door—the directors become so inter ested that they let their cigars go out; nod approval to every suggestion and O. K. the. proposition without even taking their feet off the table, says “ Craddick’s C. D.” Six months later the new fixtures are all in. The sun pouring its effulgent rays through the stained glass windows in the ladies’ room casts a halo of glory over the dainty but unused desk in the corner, and dulcet toned echoes from the tuneful chime clock out in front chase each other in and out of the empty safe deposit boxes in the big shiny vault. All being ready, the cashier goes before the board and asks for an appro priation of $150 for a series of newspaper advertise ments and some letters, which are to tell the public about- all the new improvements, and invite them to come and use them. The directors, without a single dissenting vote, turn him down as flat as a bride’s first cake. W hy is it? 39 We have a new made-in-Iowa policy, which interests every prospect—it is just as if your banker should say— “ Deposit $36.75 per year with me for 20 years—if you die any time within that period, I will pay your folks $1,000. If you live the 20 years I will give you back every dollar you have deposited. If you do not need the money, then I will give you $169 and continue my agreement to pay your folks $1,000 whenever you die.” THIS IS THE NEW M ONEY-BACK POLICY Which our Agents are offering and it is meeting with wonderful success. Remember that if the prospect lives, he gets back every dollar deposited during the 20 years; if he dies, his beneficiaries receive the full amount of the policy. Total disability clause and double indemnities for accidental death make this policy additionally at tractive. Write us for further in formation and agency proposition. Iowa Life Insurance Co. F. A. FERGUSON, President Waterloo - -Iowa Central Life Assurance Society of the United States HOME OFFICE, DES MOINES, IOW A GEO. B. PEAK, P resid ent 30 PER CENT AHEAD OF LAST YEAR’S RECORD W h y is this com pan y one o f the very few com panies w hich has not fallen beh in d, but rather has gained over its last year’ s record ? 1. Because our policies meet the new condi tions better than others. 2. Because our agency organization is awake to the increased need of protection. Our policies meet the conditions because they contain popular features such as : Low net cost. Large loaning value. No deductions are made for cash surrender value. Double insurance benefit in case of accidental death. A life pension paid under our disability clause to the as^sured and the full face of the policy paid to the bene ficiary at the insured’s death. There has been an increased need of protection : 1. Because of the decreased purchasing power of a dollar. “ Comparison of food prices with five years ago show that the purchasing power of a dollar bill shrunk 54 cents in Washington and Balti more; 75 cents in Philadel phia; 59 cents in New York and Chicago; 63 cents in San Francisco.” — Department of Labor, Washington. 2. Because the war and the influenza epidemic illustrate that we are living in a perilous and hazardous time. T h e Secret o f L ife is M ak in g a Certainty o f an U ncertain ty. A nsw er. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L ife Insurance is the THE 40 NORTHWESTERN December, 1918 BANKER Industry, Finance and Trade By Frank M. Huston Each month Mr. Huston presents in this department a were all factors in the de One of the most hopeful synopsis of financial affairs as they relate especially velopment of our war pro signs in the business world timely to bonds and mortgages and we are sure that our readers is the wide spread spirit of will find much valuable information in the material here ductions and the most re conservatism that is being published. Mr. Huston was for years the financial editor markable feature is the ra manifested by business men of The Chicago Herald and is well and favorably known pidity with which the prob' lems involved were met and bankers, yet withal throughout the country. there is an underlying evidence of courage that reflects and solved, for no one can longer question the ability the indomitable determination to solve the problems of the United States and the American people to rise growing out of the war. The spirit of co-operation and to the occasion. In readjusting downward, however, co-ordination is still in evidence. This is indicated by conflicting forces are encountered. For instance, the the rather-free expression of a desire on the part of desire of the banker to keep his funds well employed business men for the Government to continue its con is met as a stimulating factor, yet the natural timidity trol and supervision over the raw materials and over of capital offsets this. Second, the gradual increasing transportation through the period of readjustment, the supplies of raw material on a declining market makes belief being that such an exercise of Governmental su it difficult to operate in a manufacturing line without pervision will tend toward a more orderly readjust some risk of buying at a higher level than the selling price at the conclusion of the manufacturing process ment to a peace basis. would justify. So sudden was the collapse ___________ Taken as a whole, these in of the German military resist fluences cause hesitation in ance and so chaotic is the “The investment market in this country, in the business world and fre governmental situation in view of the absorption of the largest war loan ever floated by a nation, is showing remarkable quently contribute to a period practically all of the teutonic strength and breadth. There is a good demand of more or less inactivity countries as well as in Rus for high-grade bonds. Foreign bonds, which which leads to business de sia, it is necessary that there have been selling as an attractive basis for in pression and unemployment. should be afforded the busi vestment in this country, are gradually being On the other hand, with a de absorbed to the extent that they are working ness world ample opportunity slowly toward par.” clining market there is always for thoughtful consideration daftger of manufacturers be of plans for the ‘future before coming overstocked with fin proceeding in any direction. Obviously a scramble on the part of business enter ished products at prices above those justified by the de prises, whose productive efforts have concentrated on mand. There is a middle course. The continuation of the manufacture of'w a r materials, to revert to pre reasonable government control and supervision exer war conditions would result in a serious business un cised in war time could be utilized to advantage in settlement. What is needed is an orderly readjust easing business off from the high-speed production ment and the business man as well as labor has learned to a normal basis. These are abnormal times just as much of the value of co-operation in the last two years, the war period is an abnormal time. Artificial methods of equalizing conditions brought which should be of practical use in solving the prob about by the throwing out of balance the law of sup lem of converting from a war to peace basis.' Experience has shown that it is far'more difficult ply and demand in war times, it would seem reason to readjust to a lower level than it is to expand our able, could be utilized to advantage in readjusting nor industries. In the process of expansion there are cer mal conditions. This does not mean these methods tain natural retarding factors, as for instance limita could be relied upon safely to keep condition stable tion on supply of capital, inability to obtain adequate for any considerable period. Experience has shown supplies of raw material, labor scarcity, _and, equally that the more natural course works out better in the as important, adequate transportation facilities. These end where conditions are reasonably normal, but as F o r 1 ¿/¡.years we have been s p e cialists in all issu es o f U n ited States G overnm ent B on d s. W e offer large and small in vestors a specialized ser vice for the purchase and sale of all issues of F o r i If.years w e have been sp e cialists in all issu es o f U n ited States G overnm ent B on d s. United States Government Bonds 120 B R OADW AY NEW YORK U . S . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C. F. CHILDS & CO. CAPITAL ONE-HALF MILLION DOLLARS 208 S. LaSALLE ST. CHICAGO u. s. December, 1918 THE NORTHWESTERN stated before, we have started during the war period on a price fixing and extreme governmental control policy, and to abandon that would be to turn business loose in a mad scramble that could scarcely fail to end disastrously. So far, the signing of the armistices has not resulted in any perceptible change in the volume of business, speaking generally. The removal of the restriction on small buildings has stimulated hope in the building line and in the course of time will be reflected in increased construction. The removal of restrictions by the Food Administration is stimulating the flour business and it is estimated that the sugar business is sure to increase approximately 50 per cent as a result to a greater al lotment to individual consumers. These developments indicate, however, the advis ability of proceeding carefully rather than permitting business to plunge at this time. The world is in an inflated condition, statistics of foreign countries clearly indicate this and these prices based on the in flation experienced during the war in the course of time must react and get to more nearly a normal level. Necessarily, the law of supply and demand will deter mine what the. normal prices should be. So much of raw material and so much of capital have been used up and wasted in one form and another, that prewar comparisons will serve only as a contrast in many instances, for necessarily they are no longer a safe guide. For instance, building practically had been stopped by the war. The destruction of property, espe cially buildings and bridges, during the war has been so great in Europe as to create an enormous demand for building materials of various kinds. Add to this Schanke & Company Bankers ' M U N I C I P A L ! I B ONDS i 1 FREE FROM INCOME 41 OUR SERVICE TO BANKERS XI. LIB ER TY BONDS Trading in Liberty Bonds, when countenanced by Federal authorities, will be first felt among the banks through which a large proportion of all subscriptions were entered. It therefore devolves upon bankers to thor oughly familiarize themselves with the details of the various issues and to make their connec tions for prompt and dependable execution of their buying and selling orders. W e B u y , S ell a n d Q u o te a ll U n ite d S ta te s G o v e r n m e n t issu es. - U p o n re q u e s t w e sh a ll b e p le a s e d to sen d o u r “ C o m p a r a t iv e A n a ly s is o f O u ts ta n d in g L ib e r t y B o n d s ,” w h ic h w ill b e fo u n d a v a lu a b le r e fe r e n c e f o r b a n k s a n d in d i v id u a ls. HALSEY, STUART & CO. I N C O R P O R A T E D — S U C C E S S O R S TO N. W. H A L S E Y 209 NEW YORK SOUTH & C O ., C H I C A G O LA P H IL A D E L P H IA D E T R O IT SALLE STREET BOSTON S T. LOUIS M IL W A U K E E C IT Y FARM LOANS ~ LOANS Negotiated by the |£l¡ll!lllll[lllllllllinllllílllllllllll!inil!líllílllllllllll!lnillHIIIIllllll!ll]llllílllllllllílilNIIIIIII[lllllflllllil!Uy 1 BANKER TAX Home Securities’ Gompany Sioux City, Iowa 1 AUTHORIZED C A P IT A L $1,000,000 F A R M M ORTGAGES Commercial Paper | No charge for collec- | tion and remittance of 1 IN T E R E S T a n d ! PRINCIPAL SE N D FOR OUR I L IS T | Loans, Investments and Securities W e make Loans and buy and sell Mortgages on Iowa, Nebraska, Minnesota and South Da kota farms, and on improved City property. P. H. PILCHARD President Mason https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis City, Iowa A. G. HESS Secretary G. F. HUGHES Vice President G. C. ROBINSON Treasurer THE 42 NORTHWESTERN ![□] 0 Non-Speculative 6 Per Cent Investments Experienced, conservative. in vestors almost invariably give first preference to the First Mortgage Real Estate Bond because it is in reality a direct first mortgage in its simplest and most convenient form. The First Mortgage Real Estate Bonds we offer are, in every in stance, secured by direct first mort gages on income-producing proper ties, such as hotels, office buildings or apartment houses, conservative ly worth about double the amount of the mortgage. Denominations from $50 to $1,000. Ma turities from 2 to 10 years. Send for particulars. Bankers Realty Investment Co. Continental and Commercial Bank Bldg. CHICAGO, ILL. BEE BUILDING, OMAHA, NEB. 151= — — — — IN V E ST M E N T T -K c5------ B A N K E R S •--------s PU TNAM B LD G Da v e n p o r t , I o w a , IO W A M U N ICIPAL BONDS BANKER December, 1918 the natural increase in the demand for buildings and bridges and there is created an abnormal condition thfoughout the world. Europe must draw from the world’s market the materials for her reconstruction and rehabilitation. Necessarily the question of money enters into the problem. The problem of labor so far as the belliger ent cpuntries are concerned is apt to work out its own solution. The dost of the war in lives necessarily re duces the industrial man power of Europe very ma terially. At the same time it reduces the requirements in the way of food, clothing and housing. The in creased efficiency forced by war requirements will go far to offset the loss of manpower needed, especially if there is taken into consideration the decrease in con sumption of food, clothing and requirements for hous ing. Economic laws are so evenly balanced that in the very nature of things such an abnormal development as has been experienced in the last four and a quarter years is quickly overcome. This accounts for the quick recuperation of belligerent nations follow ing a war. The one dangerous feature in the present situation is the exceedingly chaotic condition prevail ing in Central and Eastern Europe. The allied coun tries are without exception possessed of stable govern ments, while in Russia, Germany; Austria and Hun gary bolshevikism is so prevalent and the radical ideas are so chaotic as to almost resemble the condition of anarchy. Possibly, revolution-ridden Germany and Austria may work out their own salvation in a concrete form of stable governments, democratic in their character, but sufficiently entrenched to protect the rights of their individual citizens. In Russia, the situation is not so promising for the present at least, owing to the wide divergence of ideas and the numerous individual na tionalities comprising that country, together with a lack of general education. Russia just now in-so-far as it is controlled by the bolshevik element, is apply ing theoretical dreams to such an extent that it is at tempting to do away with the idea of individuallyowned property and to eliminate the usual methods of doing business by abolishing money as a circulating medium. This rather Utopian idea is calculated to shut that portion of Russia off from commercial inter course with the other parts of the world to a very con siderable extent and the question is can a sufficiently stable government be maintained long enough under these conditions to satisfactorily try out the experi ment. Experiments in government as well as in busi- I. C. S T A N L E Y , Secretary H . E . H E N D E R SO N , Treasurer LOANS FA R M iiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiitiiiitiiiiii 'lllll¡lilllllllllllllllllllllllUllllllllllllllllllllllllil!lllllllllllllllllllllllllllllllll!ll!lllllllllllllllllllllllllllllllllllllllllil We are prepared to loan on the best improved farms in Iowa, from $75.00 to $90.00 per acre, and are in a position to close such loans promptly. If a customer of yours has a first and second mortgage on his farm, suggest that he put the loans in one and write us for terms and privileges. American Mortgage & Securities Com pany CEDAR Home Office Manchester, Iow a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAPIDS, IOW A C A P I T A L $200,000.00 Surplus and Profits $25,000.00 „ . __ General Office H ig le y Building Cedar Rapids, Iow a THE December, 1918 NORTHWESTERN ness involving' a radical change in customary methods of procedure have not proved satisfactory in results in the past. Progress has been a matter of slow evolu tion rather than of radical departure and while this ex periment on the part of the bolshevik may in years to come make an imprint on future civilization, the older nations are apt to look with doubt upon the present de velopment in the experiment line. In fact, it is a con census of opinion that the present is not the time for experiment, either in government or in business. The investment market in this country, in view of the absorption of the largest war loan ever floated by a nation, is showing remarkable strength and breadth. There is a good demand for high grade bonds. For eign bonds which have been selling on an attractive basis for investment in this country are gradually be ing absorbed to the extent that they are working slow ly toward par. All this encourages the belief that the future treasury offerings if made attractive will be oversubscribed, al though it is likely that the war-time patriotism which has manifested itself in the previous Liberty Loans, will be less potent in the next. This financing must be cared for and until this is out of the way it is not likely this government will let up in its restrictions on the capital market. BANKER 43 Farm Mortgage Service A well-organized farm mortgage de partment is a big asset in any coun try bank. An adequate outlet fo r a ll c la s s e s o f loans is fundamental for the suc cess o f such a department. W e are furnishing many banks with such an outlet o f this sort. Let us explain our methods o f help ing you to organize and extend your operations in this field. W e are in market n o w for farm loans o f a ll c la s s e s . Midland MortgageCo. C A P I T A L $60,000 The officers of the Mount Ayr State Bank, Mt. Ayr, Iowa, are doing a fine thing in providing a complete roll of the Ringgold county boys in the U. S. service. The list is being completed as rapidly as possible and the names of thé boys in both army and navy will be posted on the north side of the bank building. The Syndicate Trust Company CAPITAL, $200,000 CEDAR RAPIDS, IOWA OFFICERS A N D DIRECTORS F . C. W a p le s, President Clifford DePuy, V ice Pres. Robert S. Sinclair K eith V aw ter, V ice Pres. W . U. Cherry A . II. Bierkam p, Sec.-Treas. W . W . Otto N E W LOAN— $ 9 ,8 5 0 ,0 0 0 .0 0 Kansas City Terminal Railway Co. The Syndicate Trust Company An organizing and financial insti tution, with particular reference to banks and large industrial concerns. W e Buy and Sell Bank Stocks and enlist more capital where con ditions fully warrant. Successful manufacturers want ing to enlarge capacity will find our facilities fully equal to their finan cial requirements. OFFICERS JUU H. C. Niblock, Pres. -T. B. Harper, Vice Pres. H. J. Foits. Vice Pres. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis George I.awther, Sec’y. J. L. Ferguson, Treas. L. A. Stebbins, Counsel. 6 PER CENT SECURED GOLD NOTES DATED NOV. 15, 1918 MATURITY NOV. 15, 1923 DENOMINATION $1000 CALLABLE AT 101 AND INTEREST INTEREST SEMI-ANNUAL, NOV. 15, AND MAY 15 FEDERAL INCOME TAX FREE C I R C U L A R S F U R N I S H E D ON R E Q U E S T P R IC E 9 9 % A N D I N T E R E S T Ow ing to H eav y Over-Subscription of These Orders W ill Be Taken at M arket Price Bonds Those Interested in A n Offering of This K ind Should W rite or Call on Us, So W e Can A dvance Inform ation on Syndicate Offerings o f T his Character Bankers Mortgage Company Sixth and W a ln u t Streets Des M oines, Iowa Telephone— W a ln u t 4359 F . C. W aterb n ry, President J. M. Callander, Vice President S. S. M eservey, Vice. President Geo. W . Clark, Secy. & Gen. Coun. C. R . Hannan, Jr., V ice President 44 THE NORTHWESTERN BANKER December, 1918 Have Y ou a Liability Ledger Can you tell at a glance just how much each borrower owes you? Don’t depend wholly on your note case. Sometimes a note is misplaced. The Liability Ledger is a check on your note case and when a customer wants to settle up you have all the infor mation on his sheet. Some Prominent Users of Kirtley Ledgers Citizens Trust & Savings Bank, Davenport, Iowa. Continental National Bank, Sioux City, Iowa. Sioux Falls Savings Bank, Sioux Falls, S. D. First National Bank, Centerville, S. D. First National Bank, Bancroft, Neb. Nebraska State Bank, Norfolk, Neb. W e want to tell you about the Kirtley Liability Ledger, how it saves time in posting and referring to accounts. W rite for information today to Hammond Printing Co. BA™ ™ ES This department of T H E N O R T H W E S T E R N B A N K E R is to assist S U B S C R I B E R S in obtaining goods or service hard td find. It is free. Use it. A S K US, as we can tell you where to buy anything you need in your bank or for your bank. T E L L US, as your “want” will be published under the above heading free of chrarge. In answering classified advertisements which have key numbers please enclose a three-cent stamp. T his is used to forward your letter. WANTED—Position as cashier Or assistant cashier by mar ried man, draft exempt, in a town with a population of from 1,000 to 10,000. Seven years’ experience. Willing to work hard to gain promotion and advancement. Want to invest. A No. 1 references. Pages of past experience absolutely clean. Address No.- 2223, The Northwestern Banker.— 11, 12. AMBITIOUS YOUNG BANKER— Now president of large coun try bank with resources of $800,000, commanding salary of $3,000, will be available for responsible connection about Feb ruary 1st. Financially responsible. Address No. 2225, The Northwestern Banker.— 12.___________________________________ FOR SALE— On account of rearranging office fixtures, we offer for sale at a sacrifice one fine Merly & Hanney double desk, mahogany finish, leather top, 54 by 72 inches. Address No. 2226, The'Northwestern Banker.— 1 2 .____________________ WANTED—Position as cashier in a good live bank in town of not less than 1,000. Have had twelve years experience as bookkeeper and assistant cashier, and am familiar with all branches of country banking. Desire location in town where there are good schools and churches. ' I am married and in deferred class. Can invest. Address No. 2227, The Northwestern Banker.— 12._________________________________________ FOR SALE—Second-hand oak bank counter or fixture, 20 feet long, in good condition. Address No. 2228, The Northwestern Banker.— 12-1-2. POSITION WANTED—As assistant cashier in South Dakota or 'Minnesota'bank. Five years experience in small town bank. Twenty-five years old. Single. Salary open. Recom mendations furnished. Address No. 2229, The Northwestern Banker.— 12. POSITION WANTED—Would like position in bank. Have had three weeks experience in large bank. Not afraid of hard work or long hours. Can furnish A-l reference as to my honesty and character. Will come on trial if not extra far. Western state preferred, but will consider other. Married and have a family. State wages in first letter. Address No. 2230, The Northwestern Banker.— 12. CASHIERSHIP WANTED—In live Iowa town, where there is opportunity to develop a bank to larger proportions. Thor oughly experienced, prepared to invest, past record A-l. Twelve years banking experience. Age 35, married. Can take position immediately. Address No. 2231, The North western Banker.— 12. EXPERIENCED banker released from war servicd will or ganize bank or buy stock in established bank. References ex changed, and all replies treated in strict confidence. Avail able at once. R. C. Miller, 18G5 South Avers Ave., Chicago, 111.—12. POSITION WANTED—By banker just mustered out of the service. Has had eight years’ experience in the banking business. Is 26 years old and married. Can invest.' Address No. 2234, The Northwestern Banker— 12-1. WANTED POSITION—Man recently discharged from army wishes position as Cashier or Assistant Cashier. Ten years’ experience. Address No. 2232, care The Northwestern Banker— 12. WANTED—Position in bank. Write for particulars. Address No. 2233, care The Northwestern Banker—12. Two Bankers Hotels The Plankinton Hotel M ILW AU KEE, W ISCON SIN The Julien Dubuque DUBUQUE, IO W A Bankers and financial men having business in Milwaukee or Dubuque should have mail ad dressed to these hotels, for best service. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Every Courtesy Assured POSITION WANTED—In bank, town of less than 3,000, with opportunity to learn banking business. University training, liberal arts and commercial law—former superintendent of schools, and will be out of the service in a few weeks. Lieut. Wayne C. Currell, 2d Battalion, 163d Depot Brigade, Camp Dodge, Iowa. POSITION WANTED—In bank or insurance office by young lady, twenty-three years of age. Has had college education. Can furnish good reference. Address No. 2235, The North western Banker.— 12. WANTED POSITION—As assistant cashier in a good Iowa bank. Have had four years’ experience in a city bank. Ad dress No. 2236, The Northwestern Bankèr— 12. WANT TO PURCHASE— The controlling interest in a small bank of ten to twenty thousand dollars capital located in northern Iowa or southern Minnesota. Address No. 2237, The Northwestern Banker—12. THE December, 1918 NORTHWESTERN 45 BANKER A Hundred Years Hence the w orld w ill still revel in the beauty o f A n n a C ase's voice Yes, a century from now, when a new generation refers to the primitive days o f ANNA CASE singing in direct comparison with the 1918, the will thrill vast audiences. great diva’s superb voice Thanks to the genius of New Edison and proving that her Thomas A . Edison it has been Re-Created and preserved performance and that of the instrument are indistinguishable. in all its glory for our descendants. The men o f to-morrow https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis will hear, not a mere imitation, you understand, but the voice itself— pure, bubbling and spontaneous. For it has been Re-Created on Tie NEW EDI; “ The Phonograph with a Soul This means that it has been Re-Created with such fidelity; so perfectly and completely, that no human ear can distinguish artist from instru ment. The famous Edison tone tests have proved this beyond question. Before audiences totaling more than 2,000,000, great artists, stars of Metropolitan Opera, have sung in direct comparison with their own voices on the .instrument. And not one listener has been able to detect a shade of difference. Come into our store to-morrow and hear Anna Case on the New Edison. Harger & Blish, Inc. “33 Des Moines Y ea rs in the M u sic B u sin ess" Sioux City 46 THE NORTHW ESTERN BANKER December, 1918 IO W A B A N K N E W S LOCATED IN N EW HOME. The Mills County National Bank, Glenwood, Iowa, recently moved into their magnificent new home. The officers and directors of this bank have long known that they were in need of more commodious quarters and a little over a year ago it was decided to build.a home that would fill the needs of their largely in creased business. The new bank is of beautiful con struction, being built of terra cotta, with decorative panels occurring at intervals, the windows being of generous proportions. The building is 30x80, and two stories in height. H. H. Cheyney is president of this progressive institution; W . C. Rathke, vice president, and H. A. French, cashier. J. B. M cDOUGAL TRANSFERRED. J. B. McDougal, cashier of the Central State Bank, Des Moines, who has been granted a leave of absence from the bank to enter the marine officers’ training camp at Paris Island, S. C., has been transferred to Washington, D. C., to the paymaster’s department. N EW OFFICERS A T SAC CITY. At the annual meeting of the Farmers Savings Bank, Sac City, Iowa, S. W . Shaw, formerly assistant cashier was promoted to cashier and C. E. Harding, cashier, was elected vice president. This bank was the first state or savings bank in Sac county to join the Federal Reserve System. The interior of the bank is being remodelled to make it more convenient to handle the growing business which the Farmers Savings is enjoying. HOLSTEIN SAVINGS PROGRESSES. C. J. Wohlenberg, cashier of the Holstein Savings Bank, Iowa, reports that they ‘'are still sawing wood at the old stand with footings over $1,400,000, not a cent borrowed and a safe full of Government Bonds and Certificates of Indebtedness. Our town and county has always gone over the top in all War Fund sub |SSSSSSS$8SS88SSSS8$SSSSS8SS8$88SSSSSSS8S8S^^ scriptions in one day, or a week, and is ready to stand by Uncle Sam until peace is fully restored and then some.” Mr. Wohlenberg’s son, Carl, has been driving trucks all over the United States, having been appointed as a select driver and always getting in with clean scores. His company was ordered across some time ago, but the transport returned again. He is now stationed at Camp Mills, awaiting future orders. A. I. B. MEETING. The Des Moines Chapter of the American Institute of Banking held its opening fall meeting, October 29th, at the Chamber of Commerce. Mr. E. B. Wilson, vice president of the First Trust and Savings Bank, gave the young bankers a review of changing banking conditions during the past twenty years under the title, “ Counting the Change.” The Denver convention was reported by Mrs. Wray Bertholf, A. J. Huglin and W . A. Tumbleson. The officers of the Chapter are: Wray Bertholf, president, Peoples Savings Bank; A. J. Huglin, vice president, Des Moines National Bank; Harper Gordon, secretary, Merchants Savings Bank; W . W . Scott, treasurer, Iowa National Bank. Executive Committee— Leo J. O’Flaherty, Mechan ics Savings Bank; Wm. A. Luge, Capital City State Bank; Minnie Buckmaster, Iowa Loan & Trust Co. JOHN B. VAN H ORN ELECTED CASHIER. John B. Vanhorn, who has been acting as cashier of the Citizens Savings & Trust Company, Iowa City, for the past year on account of the poor health of George E. Grier, has been elected cashier. Mr. Grier will continue outside employment on his large farm. Mr._ Vanhorn was .formerly cashier of the Atalissa Savings Bank. W . R. BECK PURCHASES INTEREST. W . R. Beck, of Des Moines, has purchased control ling interest of the Valley Junction Savings Bank, Val- THE CENTRAL STATE BANK i DES MOINES, IO W A Capital $250,000.00 Surplus and Profits $250,000.00 OFFICERS ■ SIMON CASADY, President GRANT McPHERRIN, Vice-President JOHN B. McDOUGAL, Cashier FRANK C. ASH. Ass’t Cashier REM EM BER O U R FO U R C A R D IN A L PRINCIPLES ¡I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis w v ij. ( A bsolute uSafety. Consistent Liberality. V J U U U C U U 3 Treatment I I C d l l l l C U L to IV J X ll. Courteous AVll. Promptness in Execution. I » j| December, 1918 THE NORTHWESTERN BANKER 47 T H E C IT Y N ATIO N AL BANK OF CLINTON, IOWA Capital, Surplus and Profits . D e p o s i t s ........................................ . $ 500,000.00 $4,200,000.00 O F F IC E R S A. G. SMITH, President A. C. SMITH, Vice-President and Cashier G. M. CURTIS, Vice-President A. W. HANSEN, Assistant Cashier Accounts of Banks and Bankers received on most favorable terms. ley Junction, Iowa, from W . H. Field, involving ap proximately $25,000, and has been elected president of the bank. Mr. Beck is also president of the Waukee Savings Bank, Waukee, Iowa, in which he owns con trol. He expects to take an active part in the man agement of the two banks on or before January 1st. CEDAR RAPIDS N ATIO N AL ENTERTAINS. The directors of the Cedar Rapids National Bank, Cedar Rapids, Iowa, gave a dinner in honor of J. H. Ingwersen, of Clinton, one of the bank’s directors, who recently assumed his duties as vice president of the First National Bank, Duluth, Minn. Mr. Ingwer sen has remained on the board of directors of the Cedar Rapids National since he left Cedar Rapids to accept the presidency of the Peoples Trust & Savings Bank, Clinton, in 19Ô8. W. G. ANDERSON RESIGNS. W . G. Anderson, who has faithfully served the Citi zens National Bank, of Royal, Iowa, for the past nine years, and who for the past year has been its cashier, has resigned his position and accepted a similar one with the First National Bank, of Linn Grove, Iowa. Mr. Anderson is a young man of exceptionally good business qualifications and will prove a valuable asset to the Linn Grove institution. TRU ST DEPARTM EN T ESTABLISHED. The Muscatine State Bank, Muscatine, Iowa, has es tablished a new trust department. It has been cre F. L. E ATO N , Vice President C D. V A N DYKE, Cashier Correspondence invited. ated with a view of extending the service tendered the patrons and community by the bank. The new man ager, Earl S. Browning, who recently resigned as sec retary of the Greater Muscatine Committee and the Association of Commerce, is particularly well quali fied for the position in that he is a graduate of law and through his activities in the past several years has been intimately acquainted with financial affairs of such a scope as to train him for his new post. The bank is to be congratulated upon securing Mr. Brown ing. LARGEST BANK IN HEN RY COUNTY. The Farmers & Merchants Savings Bank, Mt. Pleas ant, Iowa, has deposits of $800,000. This bank is only ten years old and is the largest bank in Henry County. The officers of this progressive bank are: Hi C. Weir, president; H. A. Geeseka, vice president; Ross Walk er, cashier, and Fred C. Woodson, assistant cashier. FIRST STATE BANK, HOLSTEIN. On the opening day of the beautiful new banking home of the First State Bank, of Holstein, Iowa, a line of people were passing through the building view ing and admiring it. Upon entering the tiled corrider trimmed with marble wainscoting, the cashier’s desk is found to the right and beyond that his private con sultation room, both finished in mahogany and opaque glass with mahogany furnishings. The walls of the interior are finished in beautiful soft tints. Glen M. Gracey, cashier, whose progressiveness and GEORGE S. PARKER, President A. W . SMITH, Asst. Cashier CLIFFORD ATKINSON , Asst. Cashier THE L IV E S T O C K N A T I O N A L B A N K Capital $200,000.00 Sioux City, Iowa Surplus and Profits L O C A T E D A T T H E STO CK Y A R D S $100,000.00 Deposits $5,500,000.00 T h e G R E A T N O R T H W E S T being the feeding ground of the Live Stock Industry, by virtue o f our location at the M A R K E T P L A C E of this territory, w e can offer unsurpassed R E S E R V E facilities for Country Bankers. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis December, 1918 48 CAPITAL AND SURPLUS, $700,000.00 RESOURCES, $10,000,000.00 jiiiiiiiiiimiiiiiiiiiiiiimiiiiiiiiiiiiiiiiiimiiiiimiiiiiHiiiiimiiiimmiimiiMimiiiiiiiimmiiimiiiiiiimiiiiiiiiiiiiiiiiitiiiiiiiiiiiiiiiiim | I O W A | untiring energy have aided materially in the splendid success of his institution, has every reason to be proud of the handsome new home which the bank now occu pies. On November 1, 1917, the deposits were $285,990.42 and on November 1, 1918, they were $511,792.58, showing an increase of $225,802.16. Still Growing T h e w e l l - k n o w n s ta n d a r d s o f s e r v ic e m a in ta in e d b y th e M e c h a n ic s S a v in g s B a n k a r e c o n s t a n t ly d r a w in g n e w a c c o u n t s to u s fr o m th e b a n k s a n d b a n k ers o f Iow a. I n c r e a s e d fa c i l i t i e s a r e a d d ed a s r e q u ir e d , so th a t e v e r y a c c o u n t is g iv e n c lo s e a tte n tio n . O FFICE R S G. E . M a c K in n o n P r e s id e n t H . F. G ross V ic e P r e s id e n t H . F . iSchoen C a sh ie r N. B. S c o le s A sst. C a sh ie r D. J. O ’F la h e r t y A s s t. C a sh ie r H a rp e r G ordon A s s t. C a sh ie r DIR ECTOR S N e lso n R o y a l R . R . M cC u tch e n H. F. G ross D. E . M o o n W . A . R u t le d g e C has. A. R a w s o n J o h n H. G ib s o n R. J. C le m e n s G. E . M a c K in n o n https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Your Account Invited I f y o u w o u ld lik e an e fficien t c o n n e c t io n in D e s M o in e s it w ill be a p r iv ile g e to p la c e th e s e r v ic e o f th is b a n k a t y o u r d is p o s a l. C orresp on d en ce fr o m Io w a b a n k s a n d b a n k e r s r e c e iv e s th e p e r s o n a l a t te n tio n o f in te r e s te d o ffice rs. The Alechanics Savings Bank 319 F ifth St. Des Moines COMPLETES BUILDING. The new First National Bank building, Farragut, Iowa, has been completed and the bank moved into it recently. It is a most modern and completely equipped building, finely finished and furnished with the best of fixtures. There is, a large lobby, two customers’ rooms, two directors’ rooms, supply room and large vault, business room and outer office. T. H. Read is president. H. Rogers is vice president and W . Rog ers, cashier. McPHERRIN ELECTED PRESIDENT. Grant McPherrin, vice president of the Central State Bank, Des Moines, was elected president of the Des Moines Bankers Club at its first meeting of the season held recently. Other officers chosen w ere: L. M. Barlow, cashier of the Iowa Trust & Savings, vice president; E. B. Wilson, vice president of the First Trust & Savings, secretary-treasurer; L. B. Bartholo mew, secretary of the Central Trust, and Clarence Diehl, assistant cashier of the Des Moines National, metnbers of the executive committee. UNIQUE ADVERTISIN G. The banks of Franklin county, Iowa, have a very unique and attractive way of displaying their state ments. In a recent issue of the Chronicle, Hampton, Iowa, the banks of Franklin county inserted their statements and these were arranged in columns, thus making a solid page of statements, which gives the banks added publicity. The banks represented are as follows: Bradford Savings Bank, Bradford; Popejoy Savings Bank, Popejoy; Citizens National Bank, Hampton; Coulter Savings Bank, Coulter; Geneva Savings Bank, Geneva; Chapin Savings Bank, Chapin; Hansell Savings Bank, Ha-nsell; State Bank of Lati mer; Franklin County State Bank, Hampton; State Savings Bank, Hampton; Alexander Savings Bank, Alexander, Iowa. December, 1918 THE NORTHWESTERN CHANGE IN RIPPEY BANK. Quite a change has taken place in the personnel of the stockholders and »officials of the First National Bank, Rippey, Iowa. Mr. J. M. Woodworth, who, since the organization of the bank 14 years ago, has been a heavy stockholder and also vice president, has disposed of his interest, which has been taken over by Allen Mace of Denver, Colo., W . H. McCammon and D. D. McColl, of Perry, and B. M. Riley, Alex High and J. H. Van Scoy, of Rippey. Mr. High has been elected vice president to succeed Mr. Woodworth, who has moved to California, where he has embarked in the banking business. RECEIVED HONOR CERTIFICATE. The- Union Trust and Savings Bank, of Stanwood, Iowa, has a neat ebony framed certificate issued jointly by the Federal Reserve bank and the United States treasury in honor of the bank subscribing 100 per cent in each of the four Liberty loans. The bank has handled the Red Cross moneys, the four Liberty loans, all war activities, and filled the questionnaires, thus donating much time in a patriotic way. ORGANIZE LO CAL BRANCH. Frank G. Odell, of Omaha, secretary of the Federal Land bank for the district of which Iowa is a part, and D. J. Coughlin, of Washington, chief of the di vision of charters of the federal farm loan bureau, were in Des Moines recently supervising the final work of organizing a local branch of the bureau. A prelim inary organization was formed last March but up to this time little has been done towards getting the BANKER 49 tilllllllllllllllllillllllilllllllllllllllllllllllllllllllllllllliw = 1 The Farm ers Elevator Com pany 1 11 g §§ ü a n Ü Eg n U = is usually incorporated with a small capital, and frequently borrows many times its capital from the local bank, particularly at this time of the year. Good business practice calls for individual signers on these corporation notes, but every time one of these notes is renewed, considerable delay is occasioned in getting all signers to execute the renewal note. Why not have these individual stockholders and directors of the elevator company execute a. continuous guaranty for the maximum amount the company will borrow? Our guaranty form for this purpose is ready to mail on your request. g m a ü§ . ü FT if S T T R U S T & S A V IN G S B A N K g =E M ü g = g g = ü m 1 1 1 E. B . W IL S O N , V ice P resid en t Ë| 1 LOCUST—N. W. CORNER—SEVENTH g DES MOINES g M tv:; i-!': ; Deposits Over $16,000,000 In One Building Under One Management Iowa National Bank and D es M oines Savings Bank T h e B a n k e r s ’ B a n k o f I o w a is in a P o s itio n to R e n d e r S e r v ic e E q u a le d b y f e w an d https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ü n 1 1 Combined Capital and Surplus $2,S00,000 E x c e lle d b y N o n e . §§ W e S h a ll A p p r e c ia t e an O p p o r t u n it y to S e r v e Y o u HOM ER A. M ILLER, President CLYDE E. BRENTON, Vice President R. L. CHASE, JR., Asst. Cashier. H. T. BLACKBURN, Vice President JAMES F. H ART, Asst. Cashier. JOHN H. BLAIR, Vice President JAMES BURSON, Asst. Cashier. G. E. PEARSALL, Vice President CHAS. H. NUTT, Asst. Cáshier. J. R. c a : PS, Cashier THE 50 ■ NORTHWESTERN ... . ............... i Peoples Savings Bank D E S M O IN E S , I O W A E STA BLISHED 1890 CAPITAL (Paid in) $50,000.00 CAPITAL (Earned) 50,000.00 $ 100,000.00 SURPLUS & PROFITS (Earned) 230,000.00 DEPOSITS over 3,700,000.00 C. H. Martin, President Frank P. Flynn E. A. Slininger Vice President Cashier Carl W . Mesmer Roscoe C. Morrow Assistant Cashier Assistant Cashier Accounfs of Banks and Bankers Solicited m American Commercial and Savings Bank of Davenport, Iowa Capital stock ................................................... '............$ 600,000.00 Surplus .............................................................................. 600,000.00 Undivided profits ................. 368,000.00 Deposits over ............. 11,700,000.00 O FFIC ER S C H A S . N. VOSS, P re s id e n t ED. KAUFM ANN. V ic e P r e s id e n t R A Y NYEM ASTER. V ic e P re s , a n d C ash ier. - F. C. K R O E G E R , A sst. C a sh ie r O T T O R IE C H E , A sst. C a sh ie r F . A . JOH NSON, A sst. C a s h ie r Our adequate equipment and exceptional facilities for handling business in every department of banking are at your service. IIII1IIIIIII1IIIH IIII1IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII1IIIIIIIII1II1IIIIIIIII1IIIIIIIIIIIIIM December, 1918 BANKER project actively under way locally. J. H. Mathis is president of the local branch, and the board of direc tors includes the* president, E. B. Champion of Al toona, B. H. Person and William Eastridge of Adelphi, J. M. Brown of Carlisle, William Willett of Nor walk, F. W . Prine of Cumming, and J. G. Carpenter of Carlisle. Roy R. Welton, of the Des Moines Trust Company, will be secretary-treasurer and the work of the bureau will be largely under his direction with Earl Craig as active manager. Funds are obtained by selling bonds issued under the authority and supervision of the United States treasury and are loaned to farmers at actual cost. The farmer borrowers through their local associations be come owners of the capital stock of the federal land bank and all net earnings are returned to them in dividends. The local association, which will have headquarters with the Des Moines Trust Company, will operate in Polk and Warren counties. IO W A NEW S AND NOTES. R. J. Kuehl will return to Grundy Center and take the cashiership of the Grundy County National Bank, Grundy Center, Iowa. Frank Rahn, formerly assistant cashier in the Se curity State Bank, of Rockwell City, and later cash ier in the Savings Bank, of Lavinia, Iowa, died re cently at Camp Forrest, Ga. Clyde L. Siverly, president of the Union National Bank, Ames, Iowa, died recently of Spanish influenza. He was sick but a very short time and the entire com munity mourn the death of this public-spirited man. John McHugh, former president of the First Na tional Bank, of Sioux City, Iowa, and vice president of the Mechanics and Metals Bank, of New York, has been elected to head the Discount Corporation of New York. The new bank is capitalized at $5,000,OCK). Will Remien, for the past five years connected with the Farmers Savings Bank, Atlantic, Iowa, has re signed and accepted a position with the Atlantic Na tional Bank. The State Savings Bank and the Peoples Savings Bank, Rowan, Iowa, consolidated recently and the bus iness of the two banks was taken over by the State Savings Bank. P. O. Christenson was elected a director of the State Bank, of Vinton, Iowa, at the stockholders’ meeting The Comimereiai Natioiîal Bank WATERLOO, IOWA Capital and Surplus, $500,00 0 OFFICERS W. W. MILLER, President F. C. PLATT, Vice-President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E. W. MILLER. Vice-President GEO. E. LICHtY. Vice-President H. C. SCHULTZ, Cashier H. W. WENTE, Ass’t Cashier December, 1918 THE NORTHWESTERN held recently, following his election to the position of assistant cashier. At the annual meeting of the stockholders of the Maynard Savings Bank, Maynard, Iowa, A. H. Miehe was re-elected president, R. H. Creamer vice president '.and A. B. Blunt, of Randalia, was elected cashier to fill the vacancy caused by the resignation of E. F. Warnke, who has been cashier for the past fourteen years. Clark Osborn has been employed by the Williams burg Savings Bank, Williamsburg, Iowa. The state banking department issued a charter re cently to the Blockton State Savings Bank, of Blockton, Iowa, capital stock $15,000. Myra Ware is pres ident and Thomas A. Ware cashier. D. P. Hogan, president of the Federal Land Bank, of Omaha, has appointed W , R. Finlayson, cashier of the Villisca National Bank, Villisca, Iowa, to assist in forming a national *farm loan association in that vicinity. John H. Blair, vice president of the Iowa National Bank, Des Moines, spent a week recently at a cattle ranch which he owns near Geddes, S. D. W . F. Bay, cashier for thirty-six years of the bank that is now the First National Bank, of Odebolt, Iowa, has resigned on account of his health. He is suc ceeded by L. R. Bassett. James F. Lande, vice president of the First National Bank, Greenfield, Iowa, who is 71 years old, is show ing the women of the county the way to knit for sol diers. He has made twenty-six pairs of socks during 51 BANKER H oward J. Clark H . W . Byers Charles Hutchinson Clark, Byers & Hutchinson A T T O R N E Y S AN D C O U N S E L L O R S A T LAW Des Moines, Iowa General Civil Practice. Prompt and careful attention given to all business entrusted to us. Attorneys for the Iowa National Bank, Des Moines National Bank and Des Moines Savings Bank. ADEQUATE FACILITIES and perfected service make this an ideal reserve bank for Iowa banks* Every courtesy and accommodation extended consistent with conservative banking. In- ’ quiries solicited and appreciated. l ^ BLACK HAWK NATIONAL BANK WATERLOO, IOWA DR. F. W . PO W ERS, P resid en t A. E. GLENNY, Vice-Pres. CHARLES W. KNOOP, Cashier JAMES LOONAN, Vice-Pres. H. E. RUGG, Asst. Cashier CAPITAL $ 2 0 0 , 000.00 The Io w a State B a n k ers Convention of 1919 to be h e ld at . Fort D odge h as d ecid e d on WAHKONSA HOTEL a s h ead q u a rters. It is a lso the B an kers headquarters at a ll tim e s. H ave y o u r m a il sen t to the W a h k o n sa and w r ite or w ir e re se rv a tio n s. RESOURCES $ 2 ,7 5 0 ,0 0 0 .0 0 “ The Bank of Stability and Progress” THE CEDAR RAPIDS NATIONAL BANK CEDAR RAPIDS, IOWA X)lRECr Resources Fifteen Million Dollars This Bank W a s Not Built in a Day Accounts of Banks, Corporations, Firms and Individuals desir ing to avail themselves of our facilities, developed and perfected during a period of forty years, are invited. R A L P H V A N V E C H T E N , President GEO. B. DOUGLAS. V ice President E D H. SM ITH, V ice President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OFFICERS GLENN M. A V E R IL L , V ice President K E N T C. K E R M A N , Cashier M A R T IN N E W C O M E R , A sst. Cashier C°*NECTlO»4* CHAS. C. K U N IN G . A sst. Cashier K A R L H. R E H N B E R G , A sst. Cashier GEO. F . M IL L E R , A sst. Cashier 52 THE r: NORTHWESTERN BANKER December, 1918 First N a t i o n a l Bank C O U N C IL BLUFFS, I O W A Assets Over $5,000,000.00 J. P. GREENSH IELDS, President E. A . W IC K H A M , V ice President G. F. SPO O N ER , Cashier Ik | More than half a century of successful banking J1 I OWA | the past year. In one Red Cross shipment a pair of socks made by him was selected as the banner pair. A sweater made by his daughter took similar honors. A t a meeting of the directors of the State Savings Bank, Missouri Valley, Iowa, held recently, H. M. Silsby resigned his position as cashier of the bank and Dr. R. D. McEvoy has been elected in his place. Mr. Silsby came from the Modale bank seven years ago and during that time he has made a large circle of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis friends who will regret to see him sever his connection with this popular institution. Jennie Brynteson has accepted a position in the Robinson Bros. Bank, at Hampton, Iowa. Ben Wesenberg, who was connected, with the‘ Mer chants National Bank, Cedar Rapids, Iowa, died re cently from influenza. Mr. James E. Hamilton, vice president of the Mer chants National Bank, Cedar Rapids, Iowa, and his wife spent the month of October motoring through the East in Mr. Hamilton’s big Pierced E. C. Waterhouse, cashier of the Oakville State Sav ings Bank, Oakville, Iowa, has resigned the position The Iowa Loan & Trust Company Bank OF DES MO I N E S , I O W A "T H E BANK FOR ALL THE PEOPLE” Statem ent of Condition at the c lo se of B u sin ess June 29,1918 Call fro m the S uperintend ent of B anking RESOURCES L IA B IL IT IE S Real Estate Mortgage Loans ........M ................... $3,134,328.77 Collateral and Personal Loans ................................ 3,753,567.88 Bonds, Stocks, e tc............... 1,156,566.33 Stock in Federal Reserve Bank ................................. 22,500.00 Real Estate .......................... 96,981.83 Furniture and F ix t u r e s .... 3,275.91 Cash and Due from B a n k s.. 1,292,830.00 $9,460,050.72 C all o n us w h en in th e c ity . Capital ........................ .........$ 500,000.00 Surplus and Profits............... Re-discounts 526,478.94 .................... . 1,323,776.50 Deposits “ Banks “ Commerciai $1,662,691.97 1,734,144.24 “ Debentures 1,668,600.00 " Tim e 2,044,359.07 7,109,795.28 $9,460,050.72 G iv e us a .c h a n c e to figure o n som e o f y o u r business. S u b m it .y ou r fa rm loa n a p p lica tio n s to us. W e are alw ays in th e m a rk et fo r m ortg a g es. G. B. Hippee, President D. H. McKee, Vice Pres. B. B. Vorse, Cashier Edwin Hult, Secretary L. E. Stevens, Vice Pres. J. E. Morton, Ass’t Cashier Simon Casady, Trustee D. F. W itter, Vice Pres. G. W. Gray, Treasurer J. G. Rounds, Trustee THE December, 1918 NORTHWESTERN 53 B A N K- E R of cashier to take up Y. M. C. A. oversea work. J. F. Creighton, assistant cashier, has been elected to the position of cashier,- and Leota Waterhouse as assist ant. ! .* •: SEVENTH AN N U AL CONVENTION. The seventh annual convention of the Investment Bankers Association of America will be held in St. Louis on the 9th, 10th and 11th of December. The delegates and guests will all be located at the new Statler hotel, where the convention and banquet will be held. This hotel has ample accommodation for tak ing excellent care of the entire convention. INCREASES CAPITAL. Capital, Surplus and Profits of the Continental and Commercial National Bank of Chicago has been in creased to $37,000,000 and that of the Continental and Commercial Trust and Savings Bank to $9,500,000. The personnel of the Continental and Commercial Trust and Savings Bank has been considerably en larged. George M. Reynolds is now chairman of the Board of Directors; Arthur Reynolds, president; David R. Lewis, Louis B. Clarke, vice presidents; Ev erett R. McFadden, assistant secretary; John P. V. Murphy, manager Savings department ; D. Edward Johnes, assistant manager Savings department; George Allan and Thomas ' E. McGrath, assistant cashiers. Better Than 8 Horses for All Hauling With a Hawkeye Truck, you can do ______ your hauling in double the usual loads at almost automobile speed. The job that now takes days will be„finished in hours. The besttmarkets, miles away, move close to your farm. HAWKEYE MOTOR TRUCKS C om p are what we offer for the price—compare specifications one by one. Note what is given without extra charges, such as gas headlights, PrestO-Lite'tank, governor, metal dash,etc.— fixtures which are “ extra” on most trucks. And you will be compelled to agree that no other truck offers so much for the same money as the Hawkeye. TW O m iiiiiiniiniim uiiiiiiHiiiiiiiniiiiim iiiim iniiii M m f iS Ó Ò W rite for Complete Information The Malcolm State Bank, Malcolm, Neb.; increased its caoital stock from $7,500 to $10,000. H A W K E Y E TRUC K CO. R. A. BENNETT, President SIOUX CITY Bankers in a Radius of 100 Miles of Mason City—W e w ill give your clients quick service F. L. FINNEGAN P u blic A ccountant an d E xam in er SIZES lilim ilimuhiuniiiir 2Toni2500 ! IOWA Van Horn, Gluett & Company A Co-partnership, the Members o f which are M ASON CITY, IO W A CERTIFIED PUBLIC ACCOUNTANTS a Audits—Investigations-Systems KEEP IN TOUCH— with your customers and prospective customers. Go see them occasionally., Between calls, send them a letter. W e write, duplicate, personalize and mail letters—complete service, or any part. DES MOINES DUPLICATING C 0 .,D es M oines, la . CHICAGO 1st National Bank Bldg. OM AHA Brandéis Bldg. DES MOINES 1 S. & L. Building ^ aiim ittllllüllB llllllllllllllU M IIIillillllU llllM lllllllim illlllllllllllllllllH IIIIM IIIU U U IIIIIIIIIlllllllllllllllim illllllllllllllllllllllllllllllllllllllllllllU IIIU IllllllllH iS SECURITY NATIONAL BANK S IO U X C IT Y , IO W A C apital a n d S u rp lu s $600,000 T. A . BLACK, V ice President A . B. DARLING, V ice President C. W . BRITTON, Cashier https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W . P. MANLEY, President L. R. MANLEY, A s s ’ t Cashier C. A . PATCH, A s s ’ t Cashier R . E. BROWN, A s s ’ t Cashier The Best of Service in Handling Collections and Accounts of Banks Founded 1884 54 TH E NORTH WESTERN BANKER December, 1918 NEBRASKA B A N K N E W S I inillllllllllll!l!ll!ll!l!ll!l!li!IIIIII!lllllllll!llllllllllll!lllll!llll!llll!lllllllll!ll!IIIIll!É NEBRASKA BANKERS’ CONVENTION. The annual meeting of the Nebraska Bankers’ Asso ciation that was postponed on account of the influenza will be held in Omaha, December 4th and 5th. The meetings will be at the Hotel Fontanelle and the pro gram will be carried out largely as previously ar ranged. The officers of the association and the bank ers of Omaha and South Omaha hope for a good at tendance. When the Nebraska Bankers Association convenes in Omaha, December 4th and 5th, Farm Mortgage Bankers of Nebraska and trust companies will meet in conjunction with it. Prominent figures in the finan cial world will be present to address the association and take part in the important present day topics which will be discussed. Geo. M. Reynolds, president of the Continental & Commercial National Bank, of Chicago, will speak on the “ Passing Procession of Events.” Hon. J. Adam Bede, ex-Congressman of Minnesota, will have for his subject, “ Side Lights on Civilization.” Richard S. Hawes, St.'Louis, vice presi dent American Bankers’ Association, will also address the convention. To supplement the strong business program, an interesting entertainment program is be ing arranged. W A V E R L Y BANKS CONSOLIDATE-. A consolidation of two Waverly, Nebraska, banks was effected recently. The Lancaster County and the Farmers State are now on,e institution located in the Lancaster County Bank building. The officers of the newly «organized bank are: C. J. Warner, president; G. R. Buckner, vice president; A. Sagl, cashier. W . C. W E N T Z RETIRES AS PRESIDENT. William C. Wentz, who has been connected with the business life of Aurora and Hamilton county, Ne braska, for many years, has retired as president of the American State Bank, Aurora. In recent years the son, Chas. W . Wentz, has been in active charge of the business, being assisted by Nelda Matthes and Edwin Quinn. The reorganization of the American State Bank took place recently. Frank E. Quinn was elected president; Charles Wentz, vice president; James E. Schoonover, cashier; Nelda Matthes, assistant cashier. L. A. Enderle was chosen a member of the board of directors to succeed Frank Quinn. Andrew Grosshans and Glenn Haworth remain as members of the board. The bank is capitalized at $35,000 and is doing a very excellent business. Plans for a new. and modern banking house have been given full consideration and will be constructed as soon as conditions permit. OM AHA BANKS GAIN. Showing of banks in Greater Omaha on November 1st, the date of the call for statements by both na tional and state authorities is considered favorable. Deposits have increased a little over a year ago and loans increased decidedly. Settlements for Liberty loans, embargo on wheat, partial failures in some counties of oats and corn crops, the influenza and the biennial election are all depressing things that might have been cited for allowances if business had shrunk. But it is above a year ago. Deposits. Nov. 20, T7. Nov. 1, T8. Omaha National ............. .$20,108,492 $23,479,190 U. S. National ......................... 18,975,135 17,736,693 First National ......................... 15,915,837 14,988,674 Merchants National .............. 10,901,966 11,564,938 11,171,105 Stock Yards National ............. 12,194,969 Live Stock National .............. 7,153,371 8,638,057 Nebraska N ational............. . . 4,136,989 2,964,891 Packers National ................... 3,942,992 3,656,415 Corn Exchange National . . . . 3,060,821 2,395,291 State Bank, Omaha....... 4,097,297 3,642,170 American State Bank... 940,456 970,042 Security State Bank..... 914,035 1,069,355 South Omaha Savings............ 496,679 523,765 Union State B a n k ....... 280,000 773,600 Bank of . Benson ..................... 647,288 736,251 Farmers & Merchants, Benson 409,650 464,140 Bank of Florence........... 266,600 308,682 Pioneer State B ank...-. 27,112 134,377 Commercial State Bank......... 70,647 90,010 Total ................................ ..$104,513,037 $105,027,946 W A L T E R H. R H O D E S Bank Specialist Confidentially representing particular clients in the purchase or sale of desirable banking institutions. O m aha, Nebraska https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Phone Douglas 5 5 4 6 6 2 0 W o r ld -H e r a ld Bldg. THE December, 1918 NORTHWESTERN 55 BANKER United S tates National Bank OF OMAHA, NEBRASKA M. T. B A R L O W . President C a p it a l-------- $1,000,000.00 G. W . W A T T L E S , Chairman Board Surplus and P r o fits ....................$925,000.00 o f the W . E. RH O A D E S, V ice President R. P. MORSMAJf, V ice Pres. & Cash. J. C. M’CLURE, A sst. Cashier D e p o sits----------$22,000,000.00 G. H. Y A T E S , A sst. Cashier C. F . B R IN K M A N , A sst. Cashier Your Business Cordially T . F . M U R P H Y, A sst. Cashier. Invited O. W IL L IA M S , Auditor Mr. Ericson came to Bayard about seven years ago BRUNSW ICK BANK CHANGES HANDS. F. C. Holbert, president, and J. K. Friedebach, asand engaged in the hardware business with his brother, sistant cashier of the First National Bank, Plainview, later buying out his brother’s interest. When the Nebraska, have purchased the controlling interest in Farmers State Bank started operations he was one the Farmers State Bank, of Brunswick. Mr. Friede of the stockholders and until his recent election as bach, who has been connected with the Plainview insti president had been acting as secretary of the insti tution for the past six years will go to Brunswick to tution. be in active charge. CHANGE IN A IN SW O RTH BANK. Mr. Holbert is well and favorably known to the peo ple of Brunswick, having owned an interest in a bank R. S. Rising, president of the National Bank, of there a number of years ago. Ainsworth, Nebraska, has sold his interest to George D. Clisbe and T. E. Ritter, of Ainsworth, and C. W . Bish, of Weeping Water. The sale of the Rising in J. R. HANNA ELECTED PRESIDENT. terests carries the control, and possession was given Judge J. R. Hanna was unanimously elected presi dent of the Nebraska State Bank, Grand Island, Ne immediately. The capital stock is $60,000. Mr. Clisbe will be braska, to fill the vacancy caused by the death of A. E. Cady, Sr., of St. Paul, Nebraska. Judge Hanna is also president, Hans Rorwer and C. W . Bish, vice presi president of the Greeley State Bank, Greeley, and the dents, and Mr. Ritter, cashier. Brayton State Bank, Brayton, and is a director in the INCREASES FORCE. State Bank, of Omaha. The Gering National Bank, Gering, Neb., continues Herman Hehnks was elected a member of the board of directors. The other officers are: A. E. Cady, Jr., to grow. Clyde Abbott, of Blackfoot, Idaho, and Miss vice president; A. J. Guendel, cashier, and O. A. Vier- Florence Schatzly, of Grand Island, were added to the list of employes of this bank. A. N. Mathers is presi regg, assistant cashier. dent of this successful bank; D. B. Wooldridge, vice president and F. E. Neeley, cashier. W A L T E R ERICSON ELECTED PRESIDENT. At a recent meeting of the stockholders of the Farm AM ERICAN STATE IN N EW BUILDING. ers State Bank, of Bayard, Nebraska, Walter Ericson The American State Bank, of Long Pine, Neb., re was elected president. This came as the result of the cently celebrated the opening of its new building by resignation of A. E. Fisher which occurred some time keeping open house and welcoming its hundreds of ago. ^The Merchants National Bank of OMAHA, CAPITAL_________________ $1,000,000.00 UNDIVIDED PROFITS____$223,422.30 NEBRASKA --.$500,000.00 $13,449,878.47 SURPLUSDEPOSITS OFFICERS L U T H E R D R A K E . President B . H . M E IL E , Cashier ACCOUNTS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F R E D P. H A M IL T O N , Vice-President F. A . C U S C A D E N , Assistant Cashier F R A N K T . H A M IL T O N , Vice-President S. S. K E N T , Assistant Cashier SO L IC IT E D U. S. D E P O SITO R Y 56 THE NORTHWESTERN BANKER December, 1918 11■11■11■11111111111111111111■111111M 11111111111111111111111111111111111111111111111111i 1111111111111111111111111, a111a11111111, 1111, |r |, 11 | | NEBRASKA ( ( ( | n m iiim iiiiim iiim m im iiim m iiiiiim im m iiiiiiiiM iiiiiiiiiiiiiiiiiiiiiiim iiiiiiiiiiiiin m in n iii,,im , friends in the community. The service rendered by the American State Bank during' the past ten years is accurately reflected in the success which has attended the institution culminating in the erection and enjoy ment of the fine new home, which it now occupies. Roger B. Buell, vice president, and H. J. Albertsen, assistant cashier, are in the military service in France. Ward L. Jacox, bookkeeper, is in military training. The officers of the bank are : F. McGiverin, president ; Roger B. Buell, vice president; Chas. P. Nelson, cash ier; H. J. Albertson, assistant cashier; John K. Cassel, assistant cashier. THE ONLY BANK ‘— in the — UNION STOCK YARDS Our location and facilities are unequalled. W e are the clearing house for the Live Stock Businessof the Omaha Stock Yards. Capital, Surplus & Profits, $1,500,000.00 Combined Resources, 14,400,000.00 H. C. BOSTWICK, President J. C. FRENCH, Vice President J. S. KING, Ass’t to President FORD E. HOVEY, Vice President H. C. MILLER, Assistant Cashier J. B. OWEN, Cashier F. J. ENERSON, Assistant Cashier H. W. VORE, Auditor NEBRASKA NEW S AND NOTES. R. A. Studley, of Ansley, Neb., has become inter ested in the Ord State Bank, Ord, Neb., through the purchase of the interest of Chas. Chinn, the present cashier of that bank. Vincent Kokes will continue as its president and F. S. Dvorak as assistant cashier. Edward Huwaldt, manager of the savings depart ment of the Live Stock National Bank, of South Oma ha, Neb., and Charles M. Mitchman, in charge of the transit department of that institution, have been named assistant cashiers, of the bank by a meeting of the board of directors. F. W . Palen has been made assistant cashier in the Farmers State Bank, Tekamah, Neb. It is probable that another bank will be organized at Maxwell, Neb. C. S. Mitchell has accepted a position at the Bank of Stapleton, Neb. F. C. Holbert and J. K. Friedebach, of the First Na tional Bank, of Plainview, Neb., have purchased the controlling interest in the Farmers State Bank, of Brunswick, Neb. _ Mrs. J. H. Egle has accepted the position of as sistant cashier of the Farmers and Merchants Bank, Palisade, Neb. It is probable that a new bank will be opened at DuBois, Neb., between January 1st and 3,5th of next year. J. M. Kendall has accepted a position with the State Bank of Summerfield, Neb. Victory For the A llies BANKS Peace Confidentially For the W o rld Sold The CHARLES E. WALTERS CO., Omaha, Neb. 1422-1430 FIRST NAT’L BANK BLDG. Prosperity For A m erica https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OR LOCK BOX 1162 •M M ? I Satisfaction I Filled I FOR THOSE USING W a lte rs Service THE December, 1918 NORTHWESTERN BANKER 57 The Omaha National Bank Omaha, Nebraska Established in 1866 Capital $1,000,000.00 Surplus $1,000,000.00 Deposits $25,000,000.00 Exceptional collection facilities for Nebraska and Iowa business. Items routed direct. OFFICERS J. H. M I L L A R D , President B. A. W ILC O X , Vice President O. T. A L V IS O N , Assistant Cashier W A L T E R W. H E A D , Vice President F R A N K BOYD, Vice President J. A. C H A N G S T R O M , Assistant Cashier Auction sale was held recently of the stocks of the First National Bank, Superior, Neb. The notes not paid brought over a thousand dollars and reports in dicate another dividend is to be paid, making about one-third of all due to the depositors. This is the largest bank failure in southern Nebraska, which oc curred about four years ago. At a meeting of the First National Bank, Schuyler, Neb., held recently, Thomas Stibal was elected as sistant cashier. Mr. Stibal has been with this institu tion for several weeks, taking the place made vacant by E. E. Ruzicka, who is in service. Mr. Stibal is a valu able man for this institution, being a member of the bar besides his experience in the banking business. W A R D M. B U R G E S S , Vice President E Z R A M IL L A R D , Cashier ED W . N E A L E , Assistant Cashier C IT Y N A T I O N A L B A N K KEARNEY, NEBRASKA Capital .....................................................$ 100.000.00 Surplus and P r o fit s ....................... .. . 46,275.20 Deposits : .......................... 2,104,048.02 OFFICERS D a n M o r r is ..................... P re s id e n t G eo. B u r g e r t . . . . ' ............................ V ic e P re s id e n t C. W . N o r t o n ........... ........................................ C a sh ier P . W . T u r n e r .............................A s s is t a n t C a sh ie r K . O. H o l m e s . . . .C h a irm a n B o a r d o f D ir e c t o r s Our exceptional facilities for handling business in every department o f banking are at your service. M E M B E R OF T H E F E D ER A L . R E S E R V E B A N K OF T H E U N IT E D STATES The annual meeting of the Nebraska Bankers Asso ciation will be held at Omaha, December 4th to 5th. HOWARD BONS W ATERMARKED The W o r ld ’s Greatest B o n d P a p er Tear It , F F I C E fo r c e s o f A m erica are r a p id ly a d o p tin g and Compare It d e m a n d in g H OW ARD B O N D fo r th eir c o m p le te Test It s ta tio n e r y re q u ire m e n ts. and you , H O W A R D B O N D is a p a p e r w h ich will has th e m o st b r illia n t w h ite c o lo r Specify It o f a n y w r itin g p a p e r on e a rth , re M r . B a n k er If you r c u s to m e r ships l i v e s to c k to the g ardless o f p rice . The H ow a rd M ills ’ g rea t a d v a n ta g e o f p u re, c o ld , p e rfe ct p a p er m a k in g w a ter, ta k e n fr o m an u n d e r g r o u n d la k e, en a bles th em to g e t th e clear w h ite sh ad e th a t has n o t b e e n an d ca n n o t be a p p ro a ch e d . S e le cte d raw s t o c k is resp on sib le fo r H O W A R D B O N D p o s itiv e u n Complete Stock o f WHITE and COLORS ready for distribution ifo r m it y and stre n g th e x tr a o r d i n a ry. A request for sample book o f Howard Bond w ill have our prompt attention T he H oward Paper C ompany https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis URBANA, OHIO S o u th O m a h a M a r k e t Y ou N eed a B a n k at S o u th O m a h a to collect h i s retu rn s fo r y o u . Packers National Bank UNION STOCK YARDS OMAHA 58 THE NORTHWESTERN BANKER December, 1918 M IN N E S O T A B A N K N E W S N ORTH W ESTERN N ATIO N AL LIFE. The Northwestern National Life Insurance Com pany, of Minneapolis, reports a gain of more than 21 per cent in the new paid-for business for the first ten months of 1918, compared with the same period of last year. Late in October the company issued a special edition of the Northwestern National Life Bulletin containing a special article on Spanish influenza and pneumonia, also other matters of current interest. The Bulletin was mailed to every policyholder and agent of the company. A large number of the 9,000 Minne apolis policyholders availed themselves of the free in oculations of prophylactic anti-pneumonia vaccine giv en by the company at the home office. The company, recently wrote a group policy cover ing the employes of the Webb Publishing Company, of St. Paul, the amount being $212,000. STATE BANK, OF NORTHFIELD. The steady growth of the State Bank, of Northfiefd, Minn., is shown by the increase in deposits from Feb ruary 20, 1912, to October 19, 1918. On February 20, 1912, the deposits were $216,318.92 and on October 19, 1918, $570,298.60. The officers of this conservative and progressive bank are: A. O. Netland, president; S. A. Netland, cashier; F. A. Ruhr, vice president, and P. J. Mergen, assistant cashier. INCREASE IN BANK DEPOSITS. Deposits in the Exchange State Bank, of Minne apolis, have grown from $45,000, when the bank was opened December 16, 1916, to $367,000 on October 26, 1918, it is shown in a monthly business review pub lished recently by the bank. The $200,000 mark was passed in July, 1917, and the $300,000 mark in Decem ber. “ In spite of the ravages of fire and pestilence and the casualties of war,” says the report, “ we ap proach the Thanksgiving festival this year with great er cause for thanksgiving than we have had for many a season. The bountiful harvest had laid the founda tion for victory toward which our gallant boys in France were steadily driving.” EM PLOYES STUDY NIGHTS. Because of the large number of new employes in Minneapolis banks, due to the drain of war, the Minne apolis chapter, American Institute of Banking,, is ar ranging elementary evening classes for the new work ers, according to Clarence R. Chaney, of the North western National Bank. The courses will be especial ly helpful to the many women and girls who recently have entered bank service. The new course will be, in addition to the evening classes, in advanced subjects now being given by the institute in co-qperation with the extension department, University of Minnesota. BANKS RE-OPEN. Although influenza still prevails in burned-over dis tricts of northern Minnesota, financial affairs of the district have been adjusted. F. E. Pearson states that all banks which were closed and some that were burned out during the fire will re-open soon. BANKS SH OW GAINS. Prosperity throughout the Northwest is reflected by the excellent financial conditions in St. Paul, evidenced in statements of national banks made recently in re sponse to a call from the United States comptroller of the currency. The call was for figures at the close of business on November 1st. Deposits that day in the six St. Paul national banks and the Stockyards National Bank, of South St. Paul, totalled $102,568,373.47, an increase of $26,000,000 or nearly 25 per cent over the total August 31st. BANK W O RK ERS H EAR MRS. ERB. Members of the Red Cross unit stationed at the Northwestern National Bank, Minneapolis, Minn., were afforded an opportunity of hearing direct from their fellow employes in France. An address was giv en by Mrs. E. H. Erb, who recently returned from a sector on the western front where many Minneapolis boys are stationed. Midland National Bank M IN N EAPO LIS = O R G A N I Z E D l o n o -------- C A P IT A L A N D SURPLUS $ 1,3 5 0 ,0 0 0 .0 0 A S S ET S $ 17,0 0 0 ,0 0 0 .0 0 The bank that successfully makes it a business of handling the accounts of banks. Correspondence invited. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i BAN K ER’S SERVICE COMPANY. Banks throughout the Northwest will be interested in the announcement which is just made that the Bank er’s Service Company has taken over the Banking De partment of the Business Service Company, of Minne apolis. Mr. R. I. Gerrish, who is president and manager of the new company, has devoted his time exclusively during, the past four years to the banking work of the Business Service Company and has a wide acquaint ance among the bankers in this territory. Associated with him in the new company are Hon. W . H. New ton, congressman-elect from the Minneapolis district, and Mr. R. W . Taylor, who for ten years has been one of the managing directors of the Business Service Company. Mr. C. H. Ellsworth will have charge of the Bank Positions Department, occupying the same position which he held in the old organization. Mr. Gerrish states that the organization of the new company is in the interests of the growth and develop ment of the business, and will make it possible for the company to render to its clients a broader and more efficient service than heretofore. Their entire efforts will be spent in further developing “ a confidential service for bankers” in connection with the purchase and sale of bank stocks and the furnishing of experi enced bank employes. It is predicted that the rapid increase of business under the new corporate direction will be realized in the very beginning of its activities. The officers are confident that the future outlook is encouraging from a conservative business standpoint. DU LU TH BANK TO H AV E TRU ST BRANCH. The First National Bank, of Duluth, Minn., is the first in the state to avail itself of the opportunity pre sented by the new banking law granting all .national banks permission to operate trust departments in con junction with their regular banking business. The new enterprise will be located in the addition to the main bank building now being completed. The fact that no trust company has been located in Duluth has resulted in many thousands of dollars leaving northern Minnesota to go into other cities such as Chicago, Minneapolis and St. Paul, thereby denying this district any benefit from the funds. The management of the First National Bank has desired for many months to establish a trust department, both as a convenience to its patrons, the people of Duluth, and to prevent this money from leaving the district. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Consequently as soon as it was known the laws were to be changed so that such a step was possible, ar rangements were made. W ILL H. ZAISER SPECIALTY CO. BANK EQUIPMENT Originators “ Zaiser’s” self-indexed loose leaf bank ledgers. Any account found in four seconds. A full line of bank supplies and specialties. Shaw Walker steel and w ood filing devices. 314 7th Street, DES MOINES, IOW A A N ew Service for Banks F ROM a successful idea which we have used for six years, we have evolved a new service for hanks. It fills the “need of the hour” and will prove more effective during the readjustment period. It is a combination of advertising, general pub licity, business propaganda, prestige building and good-will contact. It will supplement your present advertising policy and plans—and without inter ference. Only one hank in a city or town can he served. Explanation and service arrangement mailed upon request. Please indicate approximate number of present commercial accounts for our guidance. H. B. C R A D D IC K (And Corps of Assistants) Advertising Manager for 454 Banks 1004-1008 First Nat’l-Soo Building Minneapolis, Minn. 60 THE NORTHWESTERN BANKER December, 1918 ||I1III1UI1I!!IIII!I!IIII!I1I1I1IIII1II11I!IIIIIII!IIIIII!II 1 U N SU RPASSED j For For For For jg COMPLETE INVESTMENT SERVICE Conscientious Service Considerate Attention Complete Facilities Constructive Banking The Thoroughly Satisfactory Our facilities offer conservative investors choicest farm mortgages in the Middle West to net 5}4% and 6%. We handle Municipal and Corporation bonds, Com mercial Paper, Short Term notes at best current rates. Correspondence invited. Ask for our latest offerings. §j MINNEAPOLIS CORRESPONDENT E stablish ed a Quarter o f a C en tu ry For Northwest American Financial Institutions I First and Security National Bank | Capital and Surplus Ten Million Dollars g In the Twenty-Story First National-Soo Line Building G M IN N E A P O L IS g Department of Banks and Bankers g P. J. Leeman, Vice President S. H. Bezoier, Asst. Cash. C. B. Brombach, Asst. Cash, g g old- ^ tabeck( jdmpâhy INVESTMENT' BANKERS MINNEAPOLIS g fflllllllllllllllllllllllll A.....11•111111■1111■11111111111111111111111■i■11111■111■11111111M 111111111111■11111111111111111■1111111111111111111111■i.1111■1111M 1111111111111111111111111111m M IN N E SO T A G iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiih iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiih iiih iiiiih iiiiiiiiiiik t P. H. SIMONS ELECTED CASHIER. At a meeting of the board of directors of the Farm ers & Merchants State Bank, Henderson, Minn., P. H. Simons, of Chaska, was elected cashier. He is an uncle of the late A. P. Simons, who has been cashier, and has had ten years’ banking experience. Mr. Simons formerly occupied the position of cash ier of the First National Bank, Chaska, Minn., of which he is now a director, and he is also a director of the Victoria State Bank and is very familiar with all phases of the banking business. $376,170,150 ; Montana, $89,137,760, making a total of $1,243,939,530. Not only have these four northwest states produced a billion-dollar crop, but also a billion-bushel crop. Minnesota has produced 366,198,000 bushels; North Dakota, 240,575,000; South Dakota, 295,156,000; Mon tana, 58,633,000, making a total of 960,582,000 bushels of wheat, oats, barley, rye, corn and flax produced. B ILL IO N -D O L LA R CROP. The Northwestern National Bank, of Minneapolis, is helping finance the billion-dollar crop which has been produced in the northwest states. The total value of crops of wheat, oats, barley, rye, corn and flaxseed is as follows : Minnesota, $439,915,380; North Dakota, $338,716,240; South Dakota, M INNESOTA NEW S AND NOTES. The Minneapolis chapter of the American Institute of Banking will fill and send 100 Christmas boxes to soldiers whose labels have not yet been claimed. Fred McClellan o f.L o s Angeles, Cal., who has owned the controlling interest in the First National Bank, of Battle Lake, Minn., has disposed of his in terests to citizen;? of Battle Lake. The First National Bank, under the splendid management of K. C. Han son, cashier, and E. J. Rudh, assistant cashier, has al ways been enterprising, liberal and careful of the inter ests of its depositors and now that it is owned by Battle Lake people, this policy will be followed with even more fidelity to home interests. The word “ German” has entirely disappeared from the list of names of Minnesota state banks. The first bank to drop the Hun word from its title did so in You Need This W e a re E sp e c ia lly Well Equipped A stamp needed by every bank hand'ing Liberty Loan to give you the best service B on d s fo r re co rd in g paym ents on b a 'k o f loan card. Price Only $1.25 Send for One Today R E C O R D O F PA YM E NTS D A TE Paym ents Due Am ount of Interest Payment Accrued Total Paid in the handling of Farm Mortgages and Commercial Papers, because of the personal relationship we es tablish with our clients. Personal attention means Teller 5 % by M ay 4 2 0 % by M ay 28 35 % by July 18 4 0 % by Aug. 15 100% Interest Paid % Actual Size St. Paul Stamp W orks https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 74 Fifth Street, St. Paul, Minn. S uperior ERVICEor John F. Sinclair Company ] M cK n igh t B u ild in g MINNEAPOLIS, MINN THE 'December, 1918 NORTHWESTERN 61 BANKER “ T h e Bank T h a t Service B u i l t /' Capital, $1,000,000 Surplus and Profits (earned), $3,750,000 Deposits, $55,000,000 The Seaboard National Bank OF THE CITY OF NEW YORK W e a llo w in t e r e s t on b a n k e r s ’ b a la n c e s , an d p a y d r a ft s w h e n p r o p e r ly p r e s e n te d . O ur c o m p e t it o r s d o lik e w is e ; h o w e v e r, th e “ P E R S O N A L S E R V IC E E L E M E N T ” is a d is t in c t iv e fe a tu r e w it h T h e S e a b o a rd N a tio n a l B a n k . E ffic ie n c y i C o n v e n ie n c e A v a ila b ilit y an d e v e r y p h a se o f b u s in e s s th a t p r o m o te s h e lp fu l and m u t u a lly c o r d ia l r e la tio n s. C. C. T H O M P SO N , V ic e P re s id e n t s « B A Y N E P re s id e n t C. c B. L. G IL L , V ic e P r e s id e n t tt w T 7 'nr A J . D. W . K . C L E V E R L E Y , V ic e P r e s id e n t H. W . D O N O V A N , C a sh ier b . i. L. N. D E V A U S N E Y , V ic e P r e s id e n t O. M. J E F F E R D S , A s s is t a n t C a sh ier J. E . March and eleven others have since followed the ex ample. The last'to change was the German-American State Bank, of St. Michael’s Station, which is now legally listed as the Albertville State Bank. Alfred Larson, president of the Farmers State Bank, Murdock, Minn., has been seriously ill with the Span ish influenza, but is much improved. At a meeting of the board of directors of the Farm ers & Merchants State Bank, Henderson, Minn., held recently, P. H. Simons of Chaska was appointed cash ier. Mr. Simons has had ten years’ experience in the banking business. A bank is to be opened at Campia, Minn., soon. It is to be officered by D. A. Russell, president; M. L. Randall, vice president, and A. J. Clark, cashier. Cam pia is a small village on the Soo and is almost a su burb of Rice Lake. E. A. Hinsch, former paying teller National Bank of Commerce, St. Paul, Minn., has been elected as sistant cashier by the board of directors. Mr. Hinsch succeeds the late G. K. Robertson, who died recently of Spanish influenza. The Farmers and Merchants State Bank, at Easton, Minn., in which a number of Mankato people are in terested, consolidated recently with the Easton State Bank, of which A. E. Quimby is president. Mr. E. L. Day, the assistant cashier of the First Na tional Bank, Kiester, Minn., has resigned his position and will go to Conger, where he has accepted the cashiership of the State Bank. CHOICE FARM MORTGAGES FOR SALE W e guarantee to pay Interest prompt ly on the day tt Is due https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F I S H E R , A s s is t a n t C a sh ier S M IT H , A s s is t a n t C a sh ier D A D S O N . A s s is t a n t C ash ier O R R , A s s is t a n t C a sh ier ANNOUNCEMENT The Banker’s Service Company announces that it has taken over the Banking Department of the Busi ness Service Company of Minneapolis. Its entire efforts will be devoted to the purchase and sale of bank stocks and the handling of bank employes. It is prepared to give prompt and personal atten tion to all matters submitted, and to handle negotia tions with due confidence. Your continued co-operation will be appreciated. BANKER'S SERVICE C O M P A N Y M cKnight Building, M inneapolis 62 THE NORTHWESTERN BANKER December, 1918 M O N TAN A BANK NEW S SAFETY DEPOSIT BOXES IN DEMAND. There is a great shortage in Butte of safety deposit boxes in the banks. This condition is attributed to the extraordinary demand made for such boxes by buyers of Liberty loan bonds. Some of the banks are reported to have as many as 500 applications on hand for the next vacant box, and all of them could use several hundred more boxes if they had them. The deposit box idea has gained considerable ground in Butte since the beginning of the Liberty Loan cam paigns and people who never thought of such a thing before now are using them. BANKS AGREE TO UNIFORM CHARGES. The three banks of Kalispell, Montana, the Conrad National, the First National and the Bank of Com merce, have agreed upon uniform charges for certain services to the public and have published the agree ment which is as follows: For the printing of cus tomers’ names on check books, the actual cost of such printing. For escrows a fee of 50 cents for each $1,000 involved; the minimum fee on any escrow will be $2.50; all escrow fees will be payable annually in ad vance. For checks and drafts with or without bill of lading attached, 25 cents per hundred dollars for all items up to $600, and a fee of 15 cents per $100 or frac tion thereof for all collections amounting to more than $600; a minimum fee of 25 cents will be charged for each collection. USING PENNIES IN BUTTE. Prejudice of 50 years’ standing in Butte against the use of pennies has been overcome by County Food Administrator Haskings, who has issued an order that the despised copper must be given by stores m change. Although the largest copper mining camp in the world, Butte stores and banks have always refused to handle pennies in commercial exchange. NO APPLICATIO N FOR N EW BANKS. There has not been an application for a charter for a state bank anywhere in Montana for more than three $ 2 ,000,000.00 Investors have bought considerable more than $2,000,000.00 of our farm loans without a dollar of loss and without a foreclosure by investors. Loans made direct to farmers through our own banks in North Dakota and Montana. Six per cent with Safety and Service. Information and references on request. CUSTER C O U N T Y B A N K W . C. M cClintock, President MILES CITY, - - M ONTANA Member Farm Mortgage Bankers’ Association. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I months, H. S. Magraw, state superintendent of banks, states. Mr. Magraw attributes this fact to publicity given to his announcement made some time ago to the effect that it would'be his policy in the future to dis courage the organization of new banks during the period of the war. STATE FARM LOANS IN MONTANA. Farm loans by the state during the past 10 months aggregated $2,493,300, according to a report compiled fry State Land Agent C. A. Whipple. The average size of the loans was $1,164. The number of loans for October was 130 and the aggregate loaned was $213,800. The average for this period of the loans was $1,645. During the year 1917 and the 10 months of this year, the time the law has been in operation, the aggre gate amount of all loans made was $3,233,000. The number of loans in the past 10 months was 2,140. The reason the average size of the loans is lower during this period is because last July a rule was adopted fix ing a maximum limit of loans at $10,000, while prior to that time there was no limit. M ON TAN A NEW S AND NOTES. Frank Bonzer, prominent oil man and banker, well known in Billings, Mont., died recently of influenza, at his home in Morristown, S. D. C. L. Smith will succeed C. E. Scott, as cashier of the Traders State Bank, Poplar, Mont. The charter for a First National bank secured by Nels Nelson, Peter Miller, John Borg and J. A. Stoen has been purchased by the First State Bank of East Westby, Mont., and the institution will open for busi ness in Westby, Mont., under the title of the First National Bank. At a recent meeting o f the directors of the Rosebud State Bank, Rosebud, Mont., N. G. Philbrick was elected president to succeed the late John Davidson. R. IF. Colbert was elected to take the place of Mr. Philbrick as vice president. Frank L. Phillips has been appointed assistant cash ier of the Moccasin State Bank, Moccasin, Mont. The board of directors of the Glasgow National Bank, Glasgow, Mont., have appointed C. E. Hoppin assistant cashier. E. H. Argersinger, cashier of the First National Bank, of Judith Gap, Mont., fell a victim to the pre vailing epidemic recently. Mr. Argersinger was for merly assistant cashier of the First National Bank, of Moore, Mont., and was well known and highly re garded by many friends in Lewistown. Frank H. Derrig, a prominent Opheim and Glentana, Mont., banker, died recently of influenza. Mr. Derrig was about 30 years of age. Willis Leffer, cashier, and one of the founders of the First State Bank of Winnett, Mont., died recently of influenza, after an illness of two weeks. THE December, 1918 NORTHWESTERN BANKER 63 Three problems of the National Bank — how we help to m eet them SERVICE TO BANKS 1 When is it advisable and profitable to increase circulation? W e are prepared to develop typical calculations show ing the most profitable bonds to purchase to secure national bank note circulation, postal savings and public deposits. 2 How can bonds, purchased by us for circulation, reach Washington for deposit quickly and with assurance ? ? Free o f expense, we hold ourselves responsible, upon request, for the shipment o f such bonds to Washington, and for attending to the details o f deposit with the Government. 3 How long will it take the Government to furnish notes to new banks taking out circulation, and when should bonds be purchased for this purpose? A plan has been developed by which new National Banks taking out circulation are deprived for only a comparatively short time o f the use o f funds put into Government Bonds. Our services in this respect are available. In w riting w e w ill be glad i f you w ill mention this publication The National City Company National City Bank Building New York CORRESPONDENT OFFICES A lbany, N. Y. Ten Eyck Bldg. A tlan ta , Ga . Trust Co. o f Ga. Bldg. B altimore , Md . Charles and Fayette Sts. Boston . Mass . 10 State Street B uffalo , N. Y. Marine Bank Bldg. C hicago , III. 137 So. La Salle St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cincinnati, Ohio Fourth Natl. Bk. Bldg. Cleveland , O h io Guardian Bldg. D ayton , Ohio ■ Mutual Home Bldg. D enver , Colo . 718 17th Street D etroit , Mich . 147 Griswold Street H artford , Conn . Conn. Mutual Bldg. I ndianapolis , I nd . Fletcher Savings & Trust Bldg. K ansas Cit y , Mo . Republic Bldg. Los An g e le s , Ca l . 607 So. Spring Street Minneapolis , Minn . McKnight Bldg. N ew ark , N. J. 790 Broad St. N ew Or lean s , L a . 301 Baronne St. P hiladelphia , P a . 1421 Chestnut Street P ittsburgh . Pa . Farmers Bank Bldg. Portland , Me . 396 Congress Street Portland , Or e . Railway Exchange Bldg. P rovidence , R. I. Industrial Trust Bldg. R ichmond. V a . 1214 Mutual Bldg. S a n F r a n c is c o , C a l . 424 California St. Se attle , W a s h . Hoge Bldg. Springfield , Ma ss . 3rd Natl. Bank Bldg. St . Louis . Mo . Bk. o f Commerce Bldg. W ashington , D. C. 741 16th S t., N . W. W il k e s -B a r r e . P a . Miners Bank Bldg. London , E. C. 2 Eng. 36 Bishopsgate, Bonds Short Term N otes Acceptances 64 THE NORTHWESTERN BANKER December, 1918 SO. D A K O T A B A N K N E W S SOUTH D AK O TA W IN S FIRST HONORS. How South Dakota this year won'first honors in the grain producing states of the Middle West by achieving 131.2 per cent of crop produced as its con tribution toward feeding the nations of the world, is told by Charles McCaffree, immigration commissioner for South Dakota. Mr. McCaffree in figuring the cash value of the pro duction shows that it amounted to $5,135 per farm distributed among the 80,OCX) farmers of the state, who produced enough wheat to feed 8,000,000 soldiers, or, differently put, each of the 80,000 farmers is this year feeding with bread 100 soldiers. The reports show that there have been produced 110,000,000 bushels of corn, which means about $2,750* for each farm when all are averaged, and the little two and three-acre plats about town are included. The state has produced 72,000,000 bushels of wheat, which means about $1,845 per farm, when averaging as before. Now it has produced 72,000,000 bushels of oats, which amounts to $540 per farm for all the state. This makes a total of $5,135, an average of three crops for each farm in the state, big and little, with barley, rye, flax, immense quantities of both tame and wild Our Hats Are O ff to the Bankers of Iowa Io\ya d is p o s e d o f h e r t w o lib e r t y lo a n q u o ta s th is p a s t y e a r b e f o r e m o s t o f th e s t a t e s h a d a c t u a lly s t a r te d th e ir w b r k . O n ly t h r o u g h th e h a r d e s t w o r k a n d c lo s e s t c o -o p e r a t io n o f th e b a n k e r s o f th e sta te w a s th is r e m a r k a b le r e c o r d p o s s ib le . E v e r y p u r c h a s e r e p r e s e n te d c o -o p e r a t io n fr o m a b a n k , w h e th e r it w a s th e d e liv e r in g o f a b o n d to th e s u b s c r ib e r , o r th e m a k in g a r r a n g e m e n t s f o r p a y m e n ts b y in s ta llm e n t. W e c o u n t it a p r iv ile g e to b e a s s o c ia te d w it h o t h e r I o w a b a n k e r s in th is w o r k o f h e lp in g U n c le S am fin a n ce th e m o s t g ig a n t ic e n t e r p r is e e v e r u n d e r ta k e n . hay, all the live stock, fruit and vegetables to sweeten the revenue that has been liberally buying Liberty Bonds. South Dakota in the usual year grows two bushels of corn to one of wheat, and grows only a little less than that in 1918. There is an old saying that “ virtue is its own re ward,” but it is fortunate also to have the reward, so the continued service which South Dakota has ren dered to the nation year by year has brought to it a deserved reward. This reward is shown by the com fortable homes and the general evidences of comfort. This can, perhaps, be better evidenced by the fact that the state has this year licensed enough automobiles to carry all the population at one time. INCREASE IN DEPOSITS. The Farmers State Bank, of Platte, S. D., in their statement of November 1, 1917, showed deposits amounting to $493,226.06, and on November 1, 1918, the deposits amounted to $744,670.16, thus making an increase for the year of $251,444.10. This is certainly an excellent showing and indicates capable manage ment. The officers are: F. C. Smith, president; F. R. Smith, vice president, who is now in an officers’ training school at Camp Hancock, Ga. ; W. F. Smith, cashier ; G. E. Cool, assistant cashier ; I. E. Keyes, as sistant cashier; H. D. Smith, director, at the present time a lieutenant in France, and L. M. Smith, director. SIOUX FALLS N ATIO N AL ISSUES BOOKLET. The Sioux Falls National Bank has issued an artis tic little souvenir booklet giving a comprehensive re view of the growth of the city. When a city even in war time issues over $1,000,000 worth of building permits per year, banking clearings increase $15,000,000 per annum until they are $100,000,000 yearly and postoffice receipts gain $10,000 a year, now totaling over $210,000 annually, then that W E MAKE RUBBER STAM PS Our new catalogue gives suggestions for stamps; shows type faces, sup plies, etc. Ask for catalogue H. F. P. HOLLAR & SON sioux city Commercial Printing M em ber Federal Reserve System B AN K ER S TRUST COM PANY Des Moines, Iowa C A P IT A L , O N E M IL L IO N D O L L A R S B. F, Kauffman, President. C. H. Stephenson, Cashier. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D r. O. J. F a y J. W . H o w e ll S. S h e u e rm a n Lawn Tents Camping T e n ts , A w n in g s D IR E C T O R S A ’s h to n C le m e n s C. H. S te p h e n so n F. W . S argent H. H. P o lk B. F. K a u ffm a n R . R . R o llin s ! DES MOINES TENT & AWNING CO. iowa December, 1918 THE NORTHWESTERN city is growing-. And Sioux Falls from a town of 14,000 in 1910 has more than doubled in the scant eight years. With untold wealth lying at its doors, it is waiting only the reconstruction period after the war to leap ahead with countless building and industrial projects, now subordinated to the necessities of the world struggle. Today Sioux Falls with its 30,000 people, six rail roads that make it the distributing point and pivot of one of the richest trade and agricultural sections in the northwest, is expanding even undeA disadvantages while presenting unlimited opportunities for enter prise and energy for it is only just awaking to its com mercial opportunities. BANKER 65 SIO U X F A L L S NATIONAL BANK S IO U X FALLS, S. D A K . E stablished - - - 1882 Sioux F a lls ' Oldest Bank ^¡Successfully conducted for more than a third of a century under one competent and CONTINUOUS management. BANK DEPOSITS INCREASE. Regardless of the calls for Liberty Loans the past year, in which South Dakota has more than met the allotments made to the state, even though they were greater on a population basis than that asked from any other state in the Northwest, the deposits in the state banks show an increase of $21,000,000 for the year and amounted to $131,000,000 at the date of the last call. The increase from the previous call was over $7,000,000 and the increase of resources was over $10,000,000. The Hotel for Bankers The New Pullman European Built in 1916 RESERVATIONS MADE CEDAR RAPIDS - IOW A PEACE— and the probable course of business THE NORTHW ESTERN N A T IO N A L BA N K MINNEAPOLIS, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MINNESOTA RECONSTRUCTION is the dominant purpose while the world is turiiing back again to the normal. The year draws to a close with the great war over and conditions in the United States basically sound. This is distinctively true of the Northwest group of states o f which Minneapolis is the financial center, and where business activities arising from crop production and not from war work have continued throughout to predominate. The executive heads of this bank ing institution are confident o f the ability of business in these Northwest states to make the change with scarce l y perceptible jar. They believe that optimism tempered by reasonable con servatism is warranted and that fol lowing the readjustment a long period of healthy business activity is indi cated. Affiliated with the Minnesota Loan and Trust Company 66 THE NORTHWESTERN BANKER December, 1918 jiiiiiiiim iiiiiiiiiiiiiiiiim iiiiim iiiiiiiim im m iiiiiiiiiiiiiim iiim iiim iiim iiiiiiiim iiiiiiiim iiiiiiiiiiiiiiiiiiiiiiim iiiiiiiiiiiiiiiiiiiiiiir SO U T H D A K O T A x s .............min..............................................................iimmiii.iitiiiiiuiiiiiiTSSiiiiiiiHiiai SIOUX FALLS SAVINGS HAS N EW SAFE. The rapid growth of business of the Sioux Falls Savings Bank has made it necessary to install an addi tional safe, which is to be used for a part of the bank’s reserves, also for the safe keeping of Liberty Bonds. The bank is extending a great service to its customers by keeping in store their Liberty Bonds free. The in stallation of this service is in keeping with the bank’s well known policy of progressiveness and alertness to protect the interests of its patrons. SOUTH D A K O TA NEW S AND NOTES. W . J. Davis has accepted a position as cashier in one of the banks at Belle Fourche, S. D. The large new brick building of the Security Bank, Winner, S. D., which is being built on the east side of South Main street, is nearing completion and will be ready for occupancy about January 1st. The build ing which will cost approximately $20,000 will be one of the finest buildings in Winner and will be 25 feet wide by 90 feet in length. F. A. Eggerichs, prominent banker of Rosell, S. D., died recently after a week’s illness of Spanish in fluenza. The Bratton building and the new building of the First State Bank, Newell, S. D., are rapidly nearing completion. F arm Buildings Do M ore Than Earn Interest—They P ay O ff Principal T HE banker has always looked on reliable farm land as the safest of investments. But land is only part. Farm buildings not only pay for the interest on the money invested in them but quickly begin to pay off the capital. For instance a $5,000 barn in a single year may save easily $500 other wise lost through shrinkage of crops and live stock. This is sure saving. farm buildings of the modern type—barns, out GOOD houses, machinery sheds, tenant houses, etc.—save loss of crops and depreciation of equipment, help solve labor problems, put the business of farming on a sounder basis. Farm buildings, ordinarily a good investment, now can be looked on as exceptionally attractive both because they are so necessary and because their cost is low. In spite of the impression which some have that building costs are high, it is attested by Government statistics that lumber and building materials have advanced in price less than two-fifths as much as other commodities since 1913. This is due principally to the subnormal amount of building that has been done in this country. But these favorable prices can not last long after the war has ended. Gordon-Van Tine Company is a firm which specializes in the planning, production and selling of modern farm build ings. Our farm buildings are sold ready-cut, ready-to-erect, completely planned. We employ the mill-to-user method of selling which insures lowest prices possible on materials of highest quality. Bankers have found it safe and sat isfactory to recommend us to farmer clients. Gordon-VanTine Go. Resources Over $ 1 ,0 0 0 ,0 0 0 6819 Case St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Established Over Half a Century R EFEREN CES: Any Bank in Davenport. Conti nental and Com mercial National Bank, Chicago, llh, National C ity Bank, New Y o rk City. Davenport, Iowa THE December, 1918 NORTHWESTERN BANKER 67 OPENS W ASH IN G TO N OFFICE. E. G. McWilliam, assistant to the president of the United States Council of State Banking Associations, has opened an office for the association in the Union Trust building, Washington, D. C. Mr. McWilliam has sent a letter to bankers and bank association secretaries, requesting that State As sociations elect delegates to the council and also assist in financing the council. The council is composed of three men from each state, representing State Banks,'Trust Companies and Savings Banks. It is proposed to finance the council upon a basis of the resources of the state chartered institutions, in each state. For the first year a budget of $50,000 has been established, which upon the above basis is practically $2.25 per million of resources of State institutions. Mr. McWilliams states that every state chartered institution will be advised by his office in advance of proposed legislation affecting them and their advice sought. SE R V IC E Foreign Exchange and Letters o f Credit ALSO Travelers ’ Checks available in all Allied countries are at your disposal through K. N. & K. 66 years’ experience insures highest quality o f SERVICE “ A s Nearly P erfect A s Y ou Can Procure” IOW A S H IE L D BRA N D S E E D S Corn, A lfa lfa , Sweet Clover, T im othy, Blue Grass, Cane, M illet, Sudan Grass and other farm seeds. S E E D CORN O F B E S T Q U A L IT Y Knaufft NarftoO &Kuftne Members of New York Stock Exchange Equitable Building Samples, prices and special term s on appli cation. Our seeds m ust please you or they are returnable to us. IOW A S E E D CO. N e w Y o rk C ity D E S M O IN ES, IOW A Part of Our Service to Our Government Is: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis To produce food and to help keep the immatured stock on the farm. If you are in need of hay and feed we can furnish you names of parties who have feed and hay for sale, or if you have a surplus in your locality, we can furnish you names of parties who desire hay and feed. STOCK YARDS NATIONAL BANK ST. PAUL CATTLE LOAN CO. So. St. Paul, Minn. We Loan Money to Grow Cattle and Sheep 68 THE ::ti ï i ':ï :: i ::'i ■ i :: ! i ¡. ¡ :n i:""! 'i : NORTHWESTERN : : ¡ i: : n r : ■ v: ^ i ■: ^ : ^ ! : ; :: ' : ' BANKER m ; ¡ i : l ;. : ■ ; December, 1918 ; ■;; : : :, .............; ; : ■r .............. r:¡ 1.1in !......... I NO. DAKOTA BANK NEWS I NORTH D A K O TA O FFICIAL CROP REPORT. According to the November 1st government crop report issued by the United States Bureau of Crop Estimates, the average yield per acre of flax in North Dakota is 7.8 bushels, compared with the average of 7.9 bushels. This makes the preliminary production estimate 7,449,000 bushels, compared with 3,764,000 bushels last year and an average of 8,186,000 bushels. The state yield has been held up to about average by the favorable yields in the northeast quarter of the state where bulk of the yields either approached or exceeded the state normal of about 11 bushels. Re mainder of state was very spotted and often poor, espe cially in western sections due to grasshoppers,- frost and drouth. Yields in a general way taper largely from a range of eight to 13 bushels in eastern to three to seven bushels in western counties. State quality varies from good to poor but is average for the state. State potato yield is estimated to average 99 bushels per acre compared to an average of 90 bushels making a preliminary production estimate of 8,910,000 bushe’s, compared with 5,870,000 bushels last year and an average of 6,712,000 bushels. United States produc tion estimated to be 384,452,000 compared to 442,536,000 bushels last year and an average of 361,753,000 bushels. Y B our Is reflected tion ery you by a n k the u se. sta We specialize in p rin ted and engraved sta te m e n t le t t e r The greater part of the state corn acreage is in the southern one-third of the state. State corn yield is estimated to be 19 bushels per acre compared to the average of 22.7 bushels making a preliminary produc tion estimate of 9,196,000 bushels, compared with 5,310,000 bushels last year and an average of 11,375,000 bushels. This includes soft corn and soft and mature corn cut for silage. It is estimated that around 15 per cent was cut for silos. Fully 50 per cent of state corn crop is soft corn. Bulk of flints matured but early Sep tember frosts caught dents in all stages from milk stage to maturity. Outlook is that there is ample flint seed but North Dakota grown dent seed will be some what short. Corn quality is noticeably poor and is given as 64 per cent, compared with an average of 72 per cent. INCREASES CAPITAL STOCK. At à special meeting of the stockholders of the First State Bank, Killdeer, N. D., the capital stock was in creased from $10,000 to $25,000. The offleers of this growing bank- are: Gunder Olson, president; Otto Bremer, vice president; David E. Fuller, vice presi dent; Charles A. Jacobson, vice president; Gilbert C. Gunderson, cashier, and Constance E. Gunderson, as sistant cashier. FIRST N ATIO N AL, M OTT, N. D. The First National Bank, of Mott, N. D., has made a very decided increase in deposits since October, 1913. The deposits on October 21, 1913, were $163,832.96; October 31, 1914, $229,599.46; November 10, 1915, $273,563.69; November 17, 1916, $361,256; November 20, 1917, $425,419.75, and on November 1, 1918, $566,519.06. This is certainly a fine showing and the offi cers are to be congratulated on the progress of the bank. R. E. Trousdale is president; H. P. Jacobsen, vice president, and E. H. Trousdale, cashier. head s, fo ld e r s and book lets. S e r v i c e , Q u a lit y and R ight P rices A lw a y s A. P. Simons* cashier of the Farmers Commercial State Bank, at Henderson, Minn., died recently of Spanish influenza. THE NORTHWESTERN INVESTMENT COMPANY */ Printing - Binding - Loose Leaf Devices Designing - Engraving - Embossing Kenmare, North Dakota THE HOMESTEAD COMPANY First M ortgage Farm Loans NINETEENTH AND GRAND https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DES MOINES, IOWA Capital $50,000.00 A. G. E N G D A H L , President M. L. JO H N S O N , S ec’y H. T . SA N D S , V ice President N . H. K. JO H N S O N , V . Pres. ^ A . E. P A U LS O N , T rees. December, 1918 THE NORTHWESTERN BANKER 69 NORTH D AK O TA NEWS AND NOTES. The influenza invaded the Cando National Bank, Cando, N. D., recently and laid up practically the en tire working force. Max Hendrick is preparing to move his family back to Dickinson, N. D., from St. Paul. Mr. Hendrick re signed his office as vice president of the Midland Trust & Savings Bank at St. Paul and has disposed of his interests in that institution. He will resume the ac tive management of his farm loan business in Dickin son. , The total footings represented largely by actual de posits, reached a million dollars and over at the First National Bank in Carrington, N. D. L. M. Anderson has completed a deal whereby he has acquired an interest in the First State Bank of Rhame, N. D., and becomes cashier of the institution. Cora Thiele has been elected assistant cashier of the Farmers’ Bank, Munich, N. D. The directors of the State Bank, of Grenora, N. D., have elected C. O. Highum cashier to succeed E. L. Hugelen.' The Peoples State Bank, organized with a capital of are the incorporators: A. T. M. J. Lee, John A. Huso, R. of Aneta. Aneta, N. D., has been $25,000. The following Retzlaff, O. M. Johnson, C. Aasen and others, all The directors of the recently organized Equity State Bank, Golden Valley, N. D., have elected the following officers: Theo. P. Ewald, president; Gottlieb Lang and Gottlib Klaus, Jr., vice presidents, and William Boettcher, cashier. The Farmers State Bank, Mayville, N. D., has been incorporated with a capital of $20,000. A. M. Eruh, A. A. Swanson and L. E. Shores of Tollev are interested. Another one of the banks belonging to T. L. Beiseker, of Fessenden, N. D., has been sold, the Hamberg State Bank, having been purchased by and con solidated with the Farmers State Bank, of Hamberg, N. D., owned by G. L. Hope, G. A. Brauer and others. i The Des Moines National Bank Des Moines, Iowa | I * The policy of this bank is to cultivate helpful business relations with its correspondents and to render at all times the service which their needs demand and which our equipment insures. An expe rience extending over thirty-five years in catering to such needs has provided a broad understanding of the requirements in this field. W e cordially invite a share of your business. Capital and Surplus $ 900,000 Resources over 10,000,000 Arthur Reynolds, President John A. Cavanagh, Vice-President John H. Hogan, Cashier C. A. Barr, Vice-President C. A. Diehl, Assistant Cashier I n iiH iit iiiiu B iiiiiiy iiiiiiiiiiiiiiiiiiiiii https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 | g 1 § 70 THE NORTHWESTERN December, 1918 BANKER ^ ADVERTISE NOW! By Val Fisher, of London “ The war has taught the manufacturers and business men of Britain that advertising is not only the least ex pensive way to sell goods, but that it also has the far more important function of B U IL D IN G G O O D -W ILL— a good-will whose benefits, especially in critical times, can hardly be measured. British business men have also learned that advertising can be used in time of war to stop the sale of their goods, and at the same tim e.retain and even increase the good-will of the pub lic. In a few cases British corporations have realized when it was too late, and after irrevocable damage was done, that advertising would have saved them. “ From the outbreak of the war British business men clearly recognized their duty to their country and its fighting men. It was essential that they should strain every nerve to keep the trade of the country as near normal as possible during the war and it is just as es sential that when peace comes they must be prepared to keep every factory working at full pressure and to find employment for every employable unit. It is only by such methods that Britain can pay for her share o f the war<. “ No nation stands to gain as much commercially from the war as does America. In Great Britain the per capita income is $236, and the per capita, debt $589; in the United States your per capita income is $352, and your per capita debt is $63. “ These are times of rapid and tremendous change. No man can rest on his laurels. Those who were lead ers last year, those who are leaders now in their respec tive business lines, may be surpassed next year by farseeing, efficient and T H O R O U G H L Y P R E P A R E D com j I I petitors who have laid their plans a long w ays in ad vance.” IN D E X TO ADVERTISERS A I 1 A m e r ic a n B o n d in g a n d C a s u a lty Co. .37 A m e r ic a n C o m m e r c ia l a n d S a v in g s B a n k .............................................................50 A m e r ic a n F ix t u r e C o m p a n y ................... 28 A m e r ic a n M o r t g a g e a n d ¡S ecu rities C o m p a n y .................................................... 42 A m e r ic a n P e r f o r a t o r C o........................... 17 A m e r ic a n S ta te B a n k ............................. 2 A t la n t ic N a tio n a l B a n k ......... .................. 10 B B a c k e r , J a c o b ................................. 61 B a n k e r s A c c id e n t I n s u r a n c e C o ...........32 B a n k e r s A u t o I n s u r a n c e C o .. . . . . . . . 33 B a n k ers H o ld in g and I n v e s tm e n t C o m p a n y .................................................... 61 B a n k e r s L ife In s u r a n c e C o m p a n y .. . .35 B a n k e r s M o r t g a g e C o m p a n y .................43 B a n k e r s T r u s t C o m p a n y , D e s M oines.64 B a n k e r s T r u s t C o m p a n y , N e w Y o r k . 24 B a n k e r s R e a lt y I n v e s t m e n t C o m p a n y , C h ic a g o ..................'.................................... 42 B is h o p , E . J ......................................................69 B la c k h a w k N a tio n a l B a n k ..................... 51 B a n k e r s S e r v ic e C o...................................... 61 C C e d a r R a p id s L ife I n s u r a n c e C o m p a n y ............................................................../36 C e d a r R a p id s N a tio n a l B a n k .................51 C e n tr a l L i fe A s s u r a n c e S o c i e t y ........... 39 C e n tr a l N a tio n a l F ir e I n s u r a n c e C o .32 C e n tr a l S ta te B a n k .....................................46 C en tra l T ru st C om p an y o f I l lin o is ... 2 C h a se N a tio n a l B a n k ...................... 17 C h ild s, C. F. & C o ........................................ 40 C ity N a tio n a l B a n k , K e a r n e y , N e b ...5 7 C ity N a tio n a l B a n k , C lin to n , I o w a . . . 47 C la rk , B y e r s & H u t c h in s o n ..................... 51 C o m m e r cia l N a tio n a l B a n k ..................... 50 C o rn E x c h a n g e N a tio n a l B a n k .............. 12 C o n tin e n ta l a n d C o m m e r c ia l N a t io n a l B a n k ...................................................... 23 C o m m o n w e a lth L ife I n s u r a n c e C o m p a n y ............................................................... 31 C r a d d ic k , H. B ........................................... .59 C u p p le s E n v e lo p e C o m p a n y ................... 13 C u r r ie r -M c C o r d C o .................. 28 C u ste r C o u n ty B a n k .................................. 62 D D e s M o in e s D u p lic a t in g C o ......................53 D e s M o in e s L ife & A n n u it y C o.............. 36 D e s M o in e s N a tio n a l B a n k ......... . . . . . 6 9 D e s M o in e s T e n t & A w n in g C o.............. 64 D im e S a v in g s & T r u s t C o . . . . ! » ............ 34 D r a k e -B a lla r d . . . ......................................... 61 D r o v e r s N a tio n a l B a n k ............... 72 F ir s t N a t io n a l B a n k , C h i c a g o .............. 11 F ir s t N a tio n a l B a n k , C o u n cil B l u f f s . .52 F ir s t N a tio n a l B a n k , D a v e n p o r t ......... 1 F ir s t N a tio n a l B a n k , D u b u q u e ........... 25 F ir s t N a tio n a l B a n k , S io u x C it y ......... 1 F ir s t N a tio n a l B a n k , St. P a u l .................59 F ir s t N a t io n a l B a n k , W a t e r l o o ........... 2 F ir s t T r u s t & S a v in g s B a n k ...................49 F is h e r -M o r r is C o m p a n y ..........................29 F o n t e n e lle H o t e l '........................................ 1 F t. D e a r b o r n N a tio n a l B a n k ........... . . . 1 4 G G ir a r d N a tio n a l B a n k .............................. 11 G o ld -S t a b e c k C o m p a n y ............................60 G o r d o n V a n T in e ..............•••"•................. 66 G r e a t W e s t e r n A c c id e n t In s. C o...........32 G u a r a n ty C a ttle L o a n C o ......................... 9 G u a r a n ty L ife I n s u r a n c e C o .................. 30 G u a r a n ty T r u s t C o m p a n y ....................... 13 G u th rie , W .........................................................69 H H a ls e y , S tu a r t & C o m p a n y ..................... 41 H a m m o n d P r in t in g C o m p a n y .................44 H a m m a r s tro m , A . H.............................. . . . 6 9 H a n c o c k L if e I n s u r a n c e C o m p a n y . . . 31 H a n o v e r N a t io n a l B a n k ........................... 1 H a r g e r & B l i s h ............................................. 45 H a w k e y e .S ecu rities F ir e I n s u r a n c e C o. ; ............................................................... 37 H a w k e y e T r u c k C o...................................... 53 H ollar*. F . P. & S o n .....................................64 H o m e s te a d C o m p a n y ................................ 68 H o m e S e c u r itie s C o m p a n y ..................... 41 H o w a r d P a p e r C o ....................... 57 I I n t e r -S t a t e N a tio n a l B a n k ................... .71 I n t e r -S ta te A u t o I n s u r a n c e C o............33 I o w a B o n d in g & C a s u a lty C o.................. 34 I o w a L ife Ins. C o................... ,...3 9 I o w a L o a n & T r u s t C o m p a n y .................52 I o w a N a tio n a l B a n k , D e s M o i n e s ... .49 I o w a N a tio n a l F ir e In s u r a n c e C o .. . . 3 1 I o w a N a tio n a l B a n k , D a v e n p o r t ......... 18 I o w a S eed C o ..................... 67 I o w a S ta te T r a v e lin g M en ’s A s s o c ...3 8 K K n a u th , N a c h o d & K u h n e ....................... 67 K n ig h t, E. F . C o m p a n y .............................69 K o c h B r o s .......................................................... 28 L Lar-m on, L. L ................................................. .56 L e a v it t & J o h n s o n N a tio n a l B a n k . . . 15 L e M a rs P r in t in g C o m p a n y ................... 14 L iv e S to c k E x c h a n g e N a tio n a l B a n k .16 L iv e S to c k N a t io n a l B a n k , S io u x C ity . . . ; ...................................................... 47 E L iv e S to c k N a tio n a l B a n k , O m a h a . . . 48 E d w a r d s & D e u ts c h L ith o . C o ................ 23 L y t le C o m p a n y ..............................................27 E q u it a b le L i fe I n s u r a n c e C o ...................34 M F M c N a m a r a -K e n w o r t h y C o m p a n y . . . . 2 6 F a r m e r s L iv e S to c k I n s u r a n c e C o .. . . 38 M e ch a n ic s S a v in g s B a n k ........................48 F e d e r a l L a n d B a n k , O m a h a .................... 1 M e rc h a n ts & M e ta ls N a tio n a l B a n k .. 2 F in n e g a n , F. L ............................................... 53 M e rc h a n ts L ife In s u r a n c e C o m p a n y ..35 N a tio n a l B ank, C edar F ir s t & S e c u r ity N a tio n a l B a n k ......... 60 M e rc h a n ts R a p id s , I o w a ................................. • . . . ; . 16 F i r s t J o in t S to c k L a n d B a n k . . ............ 72 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M e rc h a n ts N a t io n a l B a n k , O m a h a . ..5 5 M e rc h a n ts L o a n & T r u s t C o .................. 14 M id la n d M o r t g a g e C o m p a n y ...................43 M id la n d N a tio n a l B a n k ..............................58 IB N N a tio n a l B a n k o f th e R e p u b l i c ........... 71 N a tio n a l C ity B a n k ......... . . . . . ............ 25 N a tio n a l C ity C o m p a n y ..........................63 N a tio n a l F id e lit y L ife I n s u r a n c e Co. .35 N a tio n a l .L ife I n s u r a n c e C o .................. 36 N e w O w e n b a c h ............................................. 48 N e w P u llm a n ......................., .....................65 N ic o ll th e T a ilo r ................... 37 N o r th w e s t e r n N a tio n a l B a n k .................65 N o r th w e s t e r n N a t io n a l L ife I n s u r a n c e C o m p a n y ........................................ 1 N o r th w e s t e r n I n v e s t m e n t C o m p a n y ..68 O O m a h a N a tio n a l B a n k ................................ 57 P P a c k e r s N a tio n a l B a n k ............................57 P e o p le s S a v in g s B a n k .............................. 50 P e o p le s T r u s t & S a v in g s B a n k , C lin to n ................................................................. 24 P e o r ia L ife I n s u r a n c e C o m p a n y ......... 38 P la n k in to n H o t e l .......................................44 R R h o d e s, W a lt e r H ........................................ 54 R ic k e r , R u fu s ................................................69 S S c n a n k e & C o m p a n y .................................. 41 S ch la m p p , F r a n k ......................................... 66 S e a b o rd N a tio n a l B a n k .............................. 61 S e co n d N a tio n a l B a n k .............................. 25 S e c u r ity N a tio n a l B a n k ............................ 53 S e c u r it y S ta te B a n k .................................. 48 S in cla ir, J o h n F . C o...................................... 60 S io u x F a lls N a tio n a l B a n k ..................... 65 S n a pp H o t e l .................................................... 66 S to c k y a r d s N a tio n a l B a n k . ..................... 56 S to w & D a v is ................... 28 St. P a u l C a ttle L o a n C o..............................67 St. P a u l S ta m p W o r k s ................................ 60 S y n d ic a te T r u s t C o m p a n y ....................... 43 T T h e T h r ift P r e s s ........................................ ,.1 5 T u lle y s , J o h n W . ........................................... 56 I II || ! | U U n ite d S ta tes N a t io n a l B a n k ..................55 U n io n T r u s t C o m p a n y ................................. 13 j I V V a lle y N a t io n a l B a n k ................................. 72 V a n H o r n , C lu e tt & C o m p a n y ..................53 j I W a h k o n s a H o t e l ......................................... 51 W a lt e r s , C has. E ............................................. 56 W a t e r lo o B a n k & T r u s t C o ..................... 15 W e s te r n L ife I n s u r a n c e C o m p a n y . . . 36 W h it e C o m p a n y ........................................... 42 I j I f I w z ; Z a is e r , W . H ., S p e c ia lt y C o . . ....................59 | THE December, 1918 NORTHWESTERN 71 BANKER Continuing in that steadfast adherence to true commercial bank ing which has stood the test of twenty-seven successful years The National Bank of the REPUBLIC O F C H I C A G O offers exceptional service in exceptional times to banks, firms, and corporations requiring Chicago facilities O F F IC E R S Thom as D. A l l i n . . . . . .A sst. John A. L y n c h ....................... President W illia m T . F e n to n ............................... Louis J. M ea h l................ A sst. ........... 1st V ice President and M gr. W illia m C. Freem an. .A s s t. R obert M. M cK inney. .2d V ice Pres. Charles S. M acferran. .A sst, Oscar II. S w a n ............................Cashier W a lte r L. Johnson. . . .A s s t. W illia m B. L a v in ia . . . . A sst. Cashier Cashier Cashier Cashier Cashier Cashier RESOURCES O V E R $ 3 9 ,0 0 0 ,0 0 0 .0 0 The INTER-STATE NATIONAL BANK G B 0. S. H 0 V E Y KANSAS CITY, MO. Only Bank in Live Stock Exchange Building. Vice Presidents R. M. COOK J. M . H ELLINGS . * Twenty-seven years of dependable banking service under the same name and no consolidations. Cashier A. B. CHRISM AN Assistant Cashiers DAVID T. B EALS F. B. MOORE G U Y H. JAMES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Capital, Surplus, 1 Undivided Profits/ $ 1, 800,000 Cattle Loans Our shareholders also own pro rata the stock of the Inter-State Cattle Loan Company with Capital and Surplus of $750,000. W e will be glad to correspond with bankers interested in the pur chase of cattle paper bearing our endorsement. 72 THE ESTABLISHED 1872 NORTHWESTERN BANKER December, 1918 R . A . CRAWFORD President C. T. COLE, JR. Vice-President D. S. CHAMBERLAIN Vice-President The Premier Security of the World Cashier T h e r e h a v e b e e n lo a n e d b illio n s o f d o lla r s on c o rn b e lt la n d w it h o u t th e lo s s o f a s in g le d o lla r an d m o r t g a g e s on th e se la n d s h a v e c o m e to b e r e g a r d e d as on e o f th e p re m ie r s e c u r it ie s o f th e w o r ld an d a re h eld b y th e m o s t c o n s e r v a t iv e in v e s t o r s o f th e n a tion . New T h is b a n k is m a k in g lo a n s on th is sa m e la n d an d to th e sa m e fa r m e r u n d e r e v e r y k n o w n s a fe g u a r d w ith an ad d ed s e c u r it y o f g o v e r n m e n ta l in s p e c tio n a n d a p p r o v a l o f t itle s an d v a lu e s . W . E. BARRETT and Modern Home of the VALLEY NATIONAL BANK and VALLEY SAVINGS BANK T h e fiv e p er c e n t b o n d s issu e d b y th is b a n k a re b a s e d on m o r t g a g e s on fa r m la n d s o n ly in th e c o r n b e lt o f I llin o is a n d Io w a . T h e se b o n d s a r e in s tr u m e n t a li tie s o f th e g o v e r n m e n t o f th e U n ite d S ta tes an d as su ch , th e y a n d th e in c o m e d e r iv e d t h e r e fr o m , a re e x em p t fr o m fe d e r a l, sta te , m u n ic ip a l a n d lo c a l ta x a tio n . A n y F e d e r a l R e s e r v e B a n k an d a n y m e m b e r b a n k o f th e F e d e r a l R e s e r v e S y ste m m a y b u y an d se ll fa r m lo a n b o n d s issu e d b y th is b a n k . S aid b o n d s a r e a la w fu l in v e s tm e n t f o r a ll fid u c ia r y an d tru s t fu n d s, an d m a y b e a c c e p t e d as s e c u r it y f o r a ll p u b lic d e p o sits. First Joint Stock Land Bank OF CHICAGO DES MOINES, IOWA C A P IT A L $250,000.00 Combined Capital and Surplus, $800,000.00 Continental-Com m ercial B ank B ldg., Chicago V alley National B ank Bldg., Des M oines, Iow a Anxious to serve, Equipped to serve well— W e seek the opportunity. W e Invite Inquiries fo r full inform ation from Bankers, T rust Companies and E states. % V* Drovers National Bank OF CHICAGO OFFICERS DIRECTORS W ILLIAM C. CUMMINGS, President AVERILL TILDEN M ERRILL W . TILDEN, Vice President L. B. PATTERSON GATES A . R YTH ER , Vice President JOHN FLETCHER M ERRILL W . TILDEN / FREDERICK N . MERCER, Cashier W M . C. CUM M IN G S H AR R Y P. GATES, Asst. Cashier BRYAN G . TIG HE DALE E. CHAMBERLIN, Asst. Cashier GATES A . RYTHER GEORGE A. M ALCOLM , Asst. Cashier H. J. AARON https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Capital and Surplus, $ 1 ,0 0 0 ,0 0 0 Has for over thirty years rendered quick and efficient service to its correspondents & SM *
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