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Federal Reserve Bank of St. Louis
2
THE
NORTHWESTERN
BANKER
February, 1916
ifllTUM r i f
U s e
r v i c
e
1I A
300 Banks in Five Years
D A N K a d v e r t i s i n g ,— l i k e b a n k i n g ,— h a s b e e n u n d e r a g e i n g c o n s t a n t c h a n g e s , a n e v o lu tio n o f b e t t e r m e n t .
A fe w y e a r s a g o , C R A D D IC K S E R V IC E w a s k n o w n
to s e v e r a l th o u s a n d b a n k e r s a s a lim ite d n e w s p a p e r
a d s e r v ic e in b o o k fo rm .
A n d w h ile th e l i t t l e b o o k o f a d v e r t i s e m e n t s o f a
fe w y e a r s a g o s e e m s in s i g n i f i c a n t in c o m p a r is o n n o w ,
i t h e ld a t t h a t tim e e x a c tly th e s a m e r e l a t i v e p o s itio n
t h a t C R A D D IC K S E R V IC E d o e s to d a y ,— a l e a d e r in th e
field o f b a n k a d v e r t i s i n g .
W h e n i t w a s a n n o u n c e d five y e a r s a g o t h a t t h e
S e rv ic e t h e r e a f t e r 'w o u l d b e m a d e a c o m p le te a d v e r
t i s i n g s e r v ic e f o r e a c h b a n k to e m p lo y it,— w i t h
p e r s o n a l a t t e n t i o n to e a c h c l i e n t ’s a d v e r t i s i n g r e q u i r e
m e n ts , p a s t r e p u t a t i o n a r o u s e d c o n s id e r a b le e x p e c t a
tio n o n t h e p a r t o f b a n k e r s a l l o v e r t h e c o u n tr y .
H u n d r e d s o f i n q u i r i e s w e r e r e c e iv e d .
a s k e d f o r th e S e rv ic e a t o n ce. B u t a s a
w o u ld do a l l t h a t i t c o n te m p la te d , t h a t
p lu s ,— C r a d d ic k S e rv ic e w a s s t i l l on t r i a l
B a n k e r s ’ O p in io n .
M any b a n k s
S e rv ic e t h a t
i t p ro m is e d ,
a t t h e b a r of
A f t e r t h e f ir s t y e a r ’s S e r v ic e w a s c h e c k e d u p b y th e
b a n k s i t s e rv e d , i n d iv id u a l g o o d o p in io n s b e g a n to b e
f o rm e d .
C r a d d ic k S e rv ic e w a s g e t t i n g s te a d y , c o n
s i s t e n t r e s u l t s a t m in im u m c o s t ; — d e p o s its in c r e a s e d ,
d iv id e n d s , to o .
A n d th e g r o w t h o f t h i s v o lu m e o f g o o d o p in io n h a s
b e e n in e x a c t r a t i o to t h e g r o w t h o f t h e S e rv ic e . T h e
g o o d n e w s o f i t s t r u e v a lu e t r a v e l e d f a s t . B a n k e r s
to ld t h e i r b a n k e r f r ie n d s . I t r e a c h e d e v e r y C o m m o n
w e a l t h o f t h e U n ite d S t a t e s a n d to d a y t h e r e is a v e r y
p r o n o u n c e d a n d d e f in ite o p in io n a m o n g b a n k e r s c o n
c e r n i n g C r a d d ic k S e rv ic e .
I n n e v e r a n in s t a n c e h a s a b a n k e r d is a g r e e d w ith
th e p la n a n d p r in c ip le s u p o n w h ic h C r a d d ic k S e rv ic e
is b a s e d , e v e n th o u g h t h e y h a v e n o t y e t e m p lo y e d it.
I t is c o r r e c t.
C R A D D IC K 'S E R V IC E , t o d a y , is five tim e s b e t t e r
t h a n i t w aS five y e a r s a g o . I t s e r v e s t e n tim e s a s
m a n y b a n k s t o d a y a s i t s e r v e d five y e a r s a g o . T h r e e
h u n d r e d b a n k s a r e r e c e i v i n g in d iv id u a l, p e r s o n a l a t
t e n t i o n to t h e i r a d v e r t i s i n g .
T h e d a y s o f “b o i l e r
p l a t e ,”— o f “r e a d y - to - u s e .”— o f “s y n d i c a t e d ” a d v e r t i s
i n g f o r b a n k s a r e r e l e g a t e d to th e in e ffic ie n t p a s t.
A m o n g t h e £00 b a n k s a r e t h i r t y - e i g h t o f t h e p io n e e r
u s e r s o f t h i s S e rv ic e a n d li k e a ll p io n e e r s o f f o r e
t h o u g h t a n d k e e n ju d g m e n t , t h e y h a v e p r o fite d m o s t
t h r o u g h g r a s p i n g t h e i r o p p o r t u n it y e a r ly . F o r i t is
a s ig n i f i c a n t f a c t t h a t e a c h p a s s i n g y e a r h a s fo u n d
t h e i r a d v e r t i s i n g p r o d u c in g m o r e a n d m o re ,— li k e a
s n o w b a ll g a t h e r s u n to i t s e l f w h e n p u s h e d a lo n g .
T h is is a n o ta b le r e c o r d in a field o f e n d e a v o r w h e r e
b e a te n p a th s w e re u n k n o w n ; w h e re so u n d ju d g m e n t
a n d e x tr e m e c o n s i d e r a t i o n f o r . t h e e x p e n d i t u r e o f
o t h e r ’s f u n d s h a s b e e n a c o n s t a n t g o v e r n i n g p r in c ip le .
I n B a n k A d v e r tis in g , C r a d d ic k S e rv ic e s t a n d s a b s o
l u t e l y u n iq u e a n d a lo n e . I t is a n e x e m p lif ic a tio n o f
Q u a lity F i r s t .
B u t t h e g r o w t h in t h e n u m b e r o f b a n k s n o w s e rv e d ,
is a s n o t h i n g in im p o r t a n c e to t h e g r o w t h o f a v e r y
f a v o r a b le p u b lic o p in io n o f t h e m e r i ts o f t h e S e rv ic e
a s a c r e a t i v e a n d p r o d u c in g fo rc e .
F o r t h i s f a v o r a b le p u b lic o p in io n h a s b e e n e a r n e d .
T h is p h a s e o f t h e w o r k th e s e p a s t five y e a r s h a s
b een e x tre m e ly g r a tif y in g a n d it g o es w ith o u t s a y in g
t h a t no w o r k , n o u n d e r t a k i n g , no p o lic y w ill b e p e r
m i t t e d w h ic h m i g h t j e o p a r d i z e t h e s t a n d i n g o f C r a d
d ic k S e rv ic e w i t h t h e b a n k e r s o f t h i s U n ite d S ta te s .
T h e r e a r e . f o r t y - s i x b a n k s in I o w a to d a y , u s i n g
C r a d d ic k S e rv ic e . O n ly o n e b a n k in a to w n o r c ity
c a n e m p lo y t h e S e rv ic e a n d t h e b a n k w e s e r v e t h e r e b y
c o n tr o ls o u r a d v e r t i s i n g e f f o r ts f o r i t s lo c a lity . T h is
r u l e is a d h e r e d to c o n s t a n t ly ,— i t m a k e s f o r l o y a l t y to
p u rp o s e .
There is a Craddick Service especially for YOUR bank. To employ it means
multiplied advertising dividends at moderate cost.
WRITE TODAY.
What Craddick Service Means.
Just for instance
O n D ec. 3d, 1915, a l e t t e r f r o m M r. P a r k e r , C a s h ie r ,
M a n u f a c tu r e r s N a tio n a l B a n k , L e w is to n , M a in e ,— a
b a n k w i t h tw o h u n d r e d t h o u s a n d d o l l a r s c a p i t a l —
r e a d s in p a r t :
“I h a v e a d e e p s e n s e o f a p p r e c i a t i o n o f th e q u a l i t y
a n d p e r s o n a l i t y o f y o u r s e r v ic e r e n d e r e d u s ; w e h a v e
p r o s p e r e d u n d e r i t a n d h a v e a ls o b e e n e d u c a te d b y i t
to h i g h e r id e a ls in a d v e r t i s i n g .
“D u r i n g t h e five y e a r s w e h a v e u s e d C R A D D IC K
S E R V IC E o u r d e p o s its h a v e a l m o s t tr ip l e d . M u c h o f
t h i s g a i n w e c r e d i t to y o u r p u b lic ity .
“W e w o u ld n o t c o n s id e r e x c h a n g i n g t h e C R A D D IC K
S E R V IC E f o r a n y S e rv ic e w e h a v e e v e r s e e n .”
N e w sp a p e r ads.
P r in te r s ’ in s tru c tio n s .
B o r d e r s d e s ig n e d .
I n c i d e n t a l c u ts .
N e w s l e t t e r s e rv ic e .
B u s in e s s a n d c r o p r e p o r t s .
L obby c ard s.
E le c t r i c lo b b y a d v e r t i s i n g .
M o v ie film a d v e r t i s i n g .
M o v ie s lid e s .
A d v is o r y s e rv ic e .
B o o k le ts .
F o ld e r s .
H. B. C R A D D IC K
Financial Advertising
1003-1006 First National-Soo Building, MINNEAPOLIS
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Federal Reserve Bank of St. Louis
In se rts.
S a v in g s p la n s .
E m e rg e n c y a d v e rtis in g .
M a il l i s t p la n s .
A n n o u n c e m e n ts .
N ew b u i l d i n g a d v e r t i s i n g .
N e w b a n k o p e n in g s .
C h a n g e s in o fficials.
I n c r e a s e d c a p ita l.
S to c k h o ld e r c o - o p e r a tio n .
S p e c ia l e v e n ts .
C o rn c o n te s ts .
S eed c o r n a d v ic e .
February, 1916
THE
NORTHWESTERN
BANKER
President Live Stock Exchange National Bank, Chicago, III.
One of the best examples of rapid progress in the banking world today is the record
of Mr. Melvin A. Traylor, newly elected president of the Live Stock Exchange National
Bank of Chicago. Born in Breeding, Kentucky, October 21, 1878, Mr. Traylor spent his
youth on a farm. When twenty years of age he went to Hillsboro, Texas, where he
worked in a grocery store and studied law at night. In 1901 he was admitted to the
bar, and soon thereafter was elected City Clerk and later Assistant Attorney of Hills
County, which office he held until 1905. In 1906 Mr. Traylor began his banking career
as Cashier of the Bank of Malone, Texas, and after two years of service there, went
with the Citizens National Bank, Ballinger, Texas, as Cashier, and a year later was
made Vice-President of that institution. In August, 1909, the Citizens National Bank
took over the First National Bank and Mr. Traylor became president of the consolidated
banks, then capitalized at $200,000. He remained in that office until 1911 when he came
north to fill the office of vice-president of the National Stock Yards National Baink of
East St. Louis. After three years of service there, he was brought to Chicago in Sep
tember, 1914, as vice-president of the Live Stock Exchange National Bank and president
of the newly organized Chicago Cattle Loan Company. On January 11, 1916, he was
elected president of the Live Stock Exchange National Bank to succeed Mr. W. A.
Heath, who became chairman of the Board of Directors. Mr. Traylor is now but thirtyseven years of age and his record speaks well for his future progress, and that of The
Live Stock Exchange National.
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Federal Reserve Bank of St. Louis
THE
NORTHWESTERN
BANKER
February, 1916
PROSPERITY
EVER before has this nation wit
nessed such unparalleled finan
cial development and business
prosperity as now. The past
year the nation’s principal farm
crops amounted to five and onehalf billion dollars, thus exceed
ing
their previous record for
JV
1914, by over one-half billion
dollars, which was the previous
banner year in the country’s
crop history. New world conditions have brought added
trade to our shores. Record breaking operations in
most manufacturing lines; heavy increase in building
operations and railroad tonnage and unusual wholesale
and retail business generally is the story of the present
business situation in this country. The total volume
of commercial operations, being recorded each day, has
never before been equalled in the history of the United
States. As far as preparedness from a financial stand
point is concerned, we are better able than ever before
to adjust ourselves to whatever changing conditions may
result as an outcome of the European struggle. In the
great rich territory which is covered by The Northwestern
Banker, prosperity has become a habit, and the fact
that it is ever present is indicated by the hundreds of
fine new bank buildings which have been erected during
the past year or so. This is but another evidence that
the great Northwest is a producer of wealth and that the
banker, farmer and business man have all joined hands
for their mutual welfare in continuing preparedness for
peace, which we hope will mean a prolongation of pros
perity.
\J
■#
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Federal Reserve Bank of St. Louis
The Northwestern Banker
$2.00 Per A nnum
DES MOINES, IOWA, FEBRUARY, 1916
20 Cents Per C opy
Planning Your Bank Building
ByÄW. J. Hoggson
How to plan and build
a bank so as to insure the
greatest economy in its
work, involves first, a
knowledge of its organ
ization, and second, a
knowledge of its methods
for handling its routine
work.
With this information
the floor space of a bank
ing room may be so laid
out as to give external ex
pression to its methods
not only of handling its
customers, but of han
dling its bank operations.
Few are the branches
of mercantile life in which
the management is more
clearly suggested through
its outward appearance
than that of banking. The
cause for this is evident;
the bank of today is de
signed for the definite
purpose of supporting the
organization of that espe
cial bank in the perform
ance of its duties. The
defined work of each bank
must govern its organiza
tion and the routine of its
business, and all this must
influence the arrangement
of its departments. For
this reason the designing
of a bank room must re
ceive very thorough and
competent consideration
in the division of its
spaces, the use of its light,
the location of its en
trances.
In the beginning, the
arranging of a bank floor
should be d e t e r m i n e d
through an entire knowl
edge of how that partic
ular bank deems it best to
conduct its business.
What are its purposes
in regard to meeting its
patrons; are the officials
p e r s o n a l l y acquaint
ed with them and do they
believe their business in
terests will be advanced
through direct contact? In
this case the president and
other officers wish to be
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Federal Reserve Bank of St. Louis
There is nothing of more importance than giving careful
consideration to the planning and designing of a new bank
building. Every bank has certain individual problems to
solve when erecting a new building, in addition to those
which are found in the erection of any bank building. W.
J. Hoggson, president of Hoggson Brothers’ Contracting
Designers, New York and Chicago, tells you in this article
how to solve some of the difficult problems in bank con
struction.
First National Bank, Rapid City, S. D.
Citizens National Bank, Watertown, S. D.
near the entrance and
only separated from the
space given to their cus
tomers by a railing or low
partition. Possibly the ac
quaintance of the pres
ident is limited or his cus
tomers so many that he
prefers to have his office
in a more secluded corner.
Again, it may be the wish
of a bank official to be so
situated that he may see
those entering the institu
tion without any desire
to personally speak with
them. Here a glass par
tition would be required,
giving the official oppor
tunity to keep watch on
the employees who come
in contact with the public,
without the annoyance of
undesirable interruption.
It is readily discerned that
on the deciding of these
questions, rests not only
the floor plan of the room,
but the furnishings to be
used.
After the officials of the
bank have been placed in
the most strategic point
for the performance of
their several duties, the
arrangement of the space
devoted to the clerks
must be decided. First
among these come the
employees who deal with
the patrons. Here another
division may be made ; the
tellers receive by far the
greatest number of the
customers, and their loca
tion for this reason will
probably receive first con
sideration. This scheme
of division may be carried
through the entire list of
clerks who meet the pa
trons. During these ar
rangements, h o w e v e r , ,
there must be considered
the number of clerks to
be accommodated and the
number of accounts to be
handled. The rate of
growth in the past may
be used as a comparative
estimate of the growth in
6
THE
NORTHWESTERN
the future, and this should influence the arrangement
so as to eliminate as many changes as possible. The
equipment which must be at the disposal of these
clerks should have due consideration. There are
desks, filing cabinet, book shelves, tables and various
mechanical devices for which provision must be made.
The various departments in which these clerks are
installed are then arranged to handle the routine of the
bank’s business so as to avoid all possible confusion
and delay. This means that in so far as possible the
operations should come in direct rotation.
Following these considerations come the number
and size of the safety deposit vaults. Protection is of
the greatest importance here and must dominate all
other considerations; yet this has to be accomplished
while leaving them accessible either to the bank offi
cials or to the customers—or to both.
In no institution is the arrangement of light more
important than in a bank. This one consideration will
often affect the entire arrangement of a banking floor.
It is a question of whether the bank can be best served
by giving the light to the customers or the clerks, and
the answer to this decides the arrangement of the fur
nishing, from the location of the president’s office to
the situation of the vault. Artificial light will some
times equalize the situation, but it is never so desirable
or penetrating as normal daylight. Oftentimes the
light that will aid the clerks at their desks, will also
benefit the tellers in recognizing their customers, even
though the main lobby of the bank is not so well light
ed. This comes from the fact that the light coming
from behind the teller shines on the face of the cus
tomer at the window. A prominent western bank
BANKER
February, 1916
once arranged its offices in the interests of the patrons
rather than the clerical force. The result was that
the clerks facing the windows made so many errors in
identification that the entire banking floor had to be
remodeled. This mistake can often be overcome
through a proper regulation of the light, but in that
way the benefit derived from the daylight is as often
reduced very considerably.
From the decision of these various questions and
the conditions regulating them, the floor plans are
drawn. The drawings now go into elevation and the
furnishings and fixtures are indicated. The question
of the kind of partitions to be used arises; shall they
be wood or glass, and, if glass, transparent or ground?
The question of height is also to be decided; will a
seven or eight-foot partition serve the purpose or shall
they go to the ceiling? As to the desks, they must
depend on the size of the books they are to hold, and
the number that must be used at one time. The time
saving mechanical devices in use in banks today have
also to be reckoned w ith; sometimes they go on desks,
sometimes on furniture manufactured for their par
ticular use. These devices often require considerable
space in which to operate them. Not long ago all the
desks of a New England bank had to be made over in
order to accommodate the ink wells. These had not
been considered worthy of consideration when the
desks were planned.
The room devoted to the use of the board of direc
tors does not require the care in locating that do the
spaces used by the operative force of the bank. Se
clusion and quiet is the chief requirement. This room
(Continued on page 26.)
REGIS
U N ITED S T A T E S D E P O S IT A R Y
Capital $2,000,000
Surplus and Profits $1,000,000
Nelson N. Lampert, Vice-President
J. Fletcher Farrell, Vice-President
Henry R. Kent, Vice-President
John Fletcher, Vice-President
Marcus Jacobowsky, Vice-President
George H. Wilson, cashier
Deposits $34,000,000
OFFICERS
Wm. A. Tilden, President
Charles Fernald, Assistant Cashier
Wm. W. LeGros, Assistant Cashier
Charles L. Boye, Assistant Cashier
Wm. L. McKee, Assistant Cashier
R. J. McKay, Assistant Cashier
H. Lawton, Mgr. Foreign Department
Comparative Show ing of Deposits
February 14, 1908....... ..........$ 9,887,954.84
February 4, 1913.........
February 5, 1909.................. 11,617,691.24
January 13, 1914......................
March 29, 1 9 1 0 ..................... 15,041,357.21
March 4, 1915..........................
March 7, 1911.......................... 21,574,956.79
November 10, 1915................
February 20, 1 9 1 2 ............ 26,207,446.32
December 31, 1915.................
p
30,499,714.20
29,727,922.06
29,844,165.94
32,117,986.70
34,166,055.02
W e particularly desire the accounts of banks. Our officer in charge is personally acquainted w ith conditions in your
section. W e know your wants and wish to serve you.
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Federal Reserve Bank of St. Louis
%
February, 1916
THE
NORTHWESTERN
BANKER
THE FIRST NATIONAL BANK,
7
COLMAN, S. D.
bold safety d e p o s i t
This solid and pro
boxes, 5x5x22 inches,
gressive institution has
double-nose master key
recently occupied a
locks and one-half-inch
new home that is mod
steel doors for each box
ern and correctly ap
compartment.
pointed in every re
The building was de
spect.
signed and constructed
The building is 25^
by the Lytle Construc
by 65 feet and occupies
tion Company, of Sioux
the site of a frame
City, Iowa.
b u i l d i n g which had
The bank was started
been in use since 1899.
in 1899 as a state bank
The building is in the
with $10,000 capital,
Doric style of architect
was nationalized in
ure, with front of cream
1903 and the present
terra cotta. Its design
capital is $25,000; sur
suggests the strength
plus, $12,500; undivided
of the institution.
profits, $5,500. Deposits
The interior arrange
are now at the quar
ment and finish are
ter-million mark and
ideal. Besides the main
have shown a consistent
banking room there are
and healthy growth for
two large, well-lighted
a number of years.
rooms for the use of
A comparative state
customers. The one
ment of resources re
with safety deposit and
veals a gain of $103,vault joins the banking
N ew Home o£First'N ational Bank, Colman, S. D.
574.77 in five years.
room, then a larger
Statement December 31, 1910, disclosed resources
room used as a customers’ and directors’ room is
of $221,279.01; resources December 31, 1911, $224,'■
beyond that in the rear.
548.89; resources December 31, 1912, $258,234.62;
The building is heated with hot water and has
resources December 31, 1913, $292,476.91; resources
indirect electric lighting. The vault is modern in
December 31, 1914, $298,947.18; resources Decem
every respect, including Diebold manganese roundber 31, 1915, $324,853.78.
door compound safe, Diebold one-inch steel vault
The present officers are K. K. Keith, president;
J. J. Questad, vice-president; L. B. Keith, cashier-; C.
doors on both vaults, each weighing a ton, 150 DieH. Rawson, assistant cash
ier, who, with Chas. Simon
son, comprise the board of
directors.
Colman is a thriving town
of 413 people, on the C., M. &
St. P. Railway, in a rich
farming community and has
just completed a $15,000
modern school building.
The marvelous develop
ment of the Northwest dur
ing the past decade finds
fitting expression in the erec
tion of such modern and
substantial banking homes as
that which we are pleased to
show above, now occupied
by the First National Bank
of Colman.
The bank that gives the
right service to the public is
bound to grow with the com
munity, and that the First
National is in the forefront
of progressive banking prac
tice is well shown by the
comparative statement of re
sources presented in connec
tion with this article.—Adv.
C. H. RAW SO N, Asst. Cashier
L. B. KEITH, Cashier
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Federal Reserve Bank of St. Louis
8
THE
NORTHWESTERN
MERCHANTS NATIONAL BANK, CEDAR RAP
IDS, IOWA, TO ERECT NEW BUILDING.
The Merchants National Bank of Cedar Rapids,
Iowa, has purchased one of the largest and most prom
inent corners in that city and the bank plans to erect
a very fine structure when the present lease expires,
which will be in about three years.
John T. Hamilton is the president, P. C. Frick and
James E. Hamilton are the vice-presidents and Edwin
H. Furrow is the cashier.
NEW BUILDING FOR THE FARMERS SAVINGS
BANK OF BRANDON, IOWA, HAS
BEEN COMPLETED.
The Farmers Savings Bank of Brandon, Iowa, have
moved into their new building, which was just com
pleted recently. The entire building is 25j^x70j4 feet,
one story. It is constructed of very hard, rough brick,
with Bedford stone trim. The floor is of reinforced
concrete. In the main room the concrete floor is cov
ered with white and blue tile. This together with the
heavy quarter-sawed furniture and fixtures makes a
very attractive room. The vault is constructed of
reinforced concrete and so arranged that the customers
may go into the part containing the safe deposit boxes
and into their private room without disturbing the
other part of the bank. The building was designed by
R. R. Mayberry, architect of Cedar Rapids, Iowa, and
built by Arthur R. Chehak, contractor, also of Cedar
Rapids, Iowa. The officers of the bank are: J. D.
Sweeney, president; B. F. Nabholz, vice-president; E.
E. Strait, cashier, and H. S. Miller, bookkeeper.
BANKER
February, 1916
SECURITY TRUST & SAVINGS BANK, FT.
DODGE, IOWA, HAS REMARKABLE
BEGINNING.
One thousand one hundred accounts opened in less
than three months—and 700 of them savings accounts
—that was the remarkable way in which Fort Dodge’s
youngest financial institution, the Security Trust and
Savings Bank, sprung into existence.
This bank was opened for business on October 2,
1915. Deposits flooded in almost faster than they
could take them for a few days. After one month’s
business, Mr. B. P. Larson, cashier of the bank, was
forced to call in a representative of a firm which makes
savings ledgers. This representative was amazed to
find the first savings ledger almost full. He had ex
pected it to last a year. However, forty days’ business
found it filled.
The Security Trust & Savings Bank occupies the
first floor of a three-story corner building, owned by
the bank. The building is practically new and of mod
ern appearance. The interior is equipped with the
latest fixtures and the most modern devices. The
floors are tile, the fixtures of mahogany and green
marble with trimmings of brass.
The officers of the bank are: E. G. Larson, pres’
ident; W. F. Carver, vice-president; Ben P. Larson,
cashier and G. P. Allard, assistant cashier.
Mr. E. G* Larson for forty years has been a di
rector of the First National Bank of Ft. Dodge, anu
has also been president of the Ft. Dodge Savings
Bank from its inception. Ben P. Larson for thirteen
years was connected with the Ft. Dodge Savings Bank,
T he Citizens Savings Bank
SIGOURNEY,
IOWA
The handsome new home of this
strong and progressive institution is
well shown by the accompanying illus
tration.
It boasts the most modern features
of design and equipment, including
safety deposit vaults with the latest
protective devices.
The main banking room is finished
in genuine mahogany and English vein
Italian marble. The fixtures are also
of mahogany and English vein Italian
marble, with bronze grills. The archi
tect for this beautiful building was
G-. M. Kern, of Ottumwa, Iowa, and
the contractor was C. W. Ennis, of
Toledo, Iowa.
The Citizens Savings Bank has
shown steady progress and substan
tial growth from date of organization.
Its capital is $25,000, surplus and
profits over $28,000 and total resources
over $400,000.
The officers at this time are: A. O.
Schipfer, president; L. H. Hinkley,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
vice-president; F. H. Tinsley, cashier;
C. L. Jarvis, assistant cashier.
The directors are: D. T. Stockman,
attorney; T. E. Noller, stock buyer;
A. O. Schipfer, merchant and presi
dent; F. C. Schipfer, merchant; A. C.
Jacobs, cashier Ollie Savings Bank;
F. H. Tinsley, cashier; L. H. Hinkley,
vice-president.
The Citizens Savings has long been
known as “The bank of the people”—
its thirty-four stockholders are mer
chants, farmers, lawyers and business
men. Its customers represent all
classes and include the leading citizens
of the community, whose confidence
and support of this deserving insti
tution have resulted in the construc
tion of the commodious, convenient
and attractive building which it is our
pleasure to show herewith.—Adv.
February, 1916
THE
NORTHWESTERN
9
BANKER
........................ ....
't iO
'd
- lim
e
THE LINE-FINDER
FOR STENOGRAPHERS
Compare this picture with your stenographer reading notes from the
side or bending over the sheet to be copied with a ruler to keep the line.
A touch of the lever brings the next line above the stationary line fifider
always in the same direct line of vision. It prevents costly erroi& and
saves time and temper from correcting mistakes.
The LINE-A-TIMEfis not an exp erim en t.
It has been standardized by the Western Electric Co., and is found in
dispensable by such concerns as Eastman Kodak Co. and Pierce Arrow
Motor Car Co. Banks are using it everywhere. Send for list of satisfied
users.
The standard 12" Model is $7.00. We have other sizes for sheets up
to 36" wide.
Let us place one for two weeks’ trial. No obligation.
I llu s t r a t e d C a ta lo g u e F r e e .
W r ite fo r it .
Line-a-time Manufacturing Co., Inc.
45 South Avenue
CAN’T MISS A LINE WITH THE LINE-A-TIME
ROCHESTER, N. Y.
The L IN E -A -T IM E was awarded the Gold Medal at the Panama Pacific Exposition.
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rising to the office of assistant cashier. Mr. Allard was able growth in deposits, which attests to the prosper
teller in the First National Bank of Ft. Dodge, where ity of the institution. In April, 1864, the deposits
he also had been employed thirteen years. Mr. Ben amounted to $245,120.34; December, 1912 (First Na
P. Larson and Mr. Allard are both comparatively tional before consolidation with the Second National),
young men, thus combining with long years of bank $13,559,603.57; January, 1913 (First National after
ing and business experience, the energy and enthu consolidation), $17,384,562.11, and at the close of
siasm of youth.
business December 31, 1915, the deposits reached the
splendid total of $48,356,869.25.
THE FIRST NATIONAL BANK, ST. PAUL, IN
THEIR CAPACIOUS NEW HOME.
THE STATE SAVINGS BANK OF LAMONI,
The First National Bank of St. Paul, Minn., are
IOWA, TO ERECT NEW BUILDING.
now very comfortably located in their beautiful new
At a meeting of the board of directors of the State
building. The main banking room which is 145 by Savings Bank, Lamoni, Iowa, a resolution was passed
176 feet is one of the largest in the country.
appointing a building committee with authority to pro
A chain of twenty-two cages, made of solid bronze vide plans and specifications for a new bank building.
and ornamented black wrought-iron, surround the
The present building may be remodeled as a part of
room at the three sides. There are six private offices the new structure or many be taken down entirely.
for consultations and for senior officers, three at each It is the present intention that the new building will
side of the main doorway.
be a modern substantial structure of brick and two
All of the woodwork in the bank portion of the stories in height. The building operation will com
building, including working desks in the cages, is of mence early this spring.
Mexican mahogany, of a heavy dark variety. At the
far end of the banking room, directly opposite the
J. E. Anderson has purchased the controlling inter
main entrance, back of the cages, are three vaults, one est in the First National Bank of Pocahontas, Iowa,
for books and records, another for checks and the and is now associated with Joe Allen in the banking
business. Mr. Anderson is a banker of experience and
third for currency.
The First National Bank has made a very remark ability.
FIRST SAYINGS BANK,
T h is i n s t i t u t i o n w a s e s t a b l is h e d in
1883, a n d h a s f o r m a n y y e a r s b e e n
p o p u l a r l y k n o w n a s “J o r d a n ’s B a n k .”
T h e a c c o m p a n y in g i l l u s t r a t i o n o f t h e
n e w b u i l d i n g , e r e c t e d s o m e t im e a g o ,
s h o w s t h a t t h e F i r s t S a v in g s B a n k is
h o u s e d i n a s fin e a h o m e a s c o u ld b e
d e s ire d .
T h e m a n y c o n v e n ie n c e s p r o v id e d f o r
c u s t o m e r s h a v e o c c a s io n e d m u c h f a v o r
a b l e c o m m e n t, a n d t h e i n s t i t u t i o n h a s
s h o w n a g a i n e v e r y y e a r in b u s in e s s ,
r e f l e c ti n g t h e i n c r e a s e d p r o s p e r i t y o f
i t s c u s t o m e r s a s w e ll a s t h e g r o w t h o f
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I '
Su t h e r l a n d ,
io w a
c o n fid e n c e in i t s a b i l i t y to s e r v e t h e
c o m m u n ity .
T h is f a c t is b r o u g h t o u t s t r i k i n g l y b y
a c o m p a r is o n o f d e p o s its f r o m y e a r to
y e a r s in c e 1903, a s f o llo w s :
M a rc h 10, 1903......................... .. . . $ 75,539.33
M a y 17, 19 0 6 ..................................... 83,577.82
J a n u a r y 26, 19 0 7 .......................... 98,956.38
F e b r u a r y 14, 1 9 0 8 . . . ................... 123,394,01
F e b r u a r y 20, 19 0 9 ......................... 141,209.41
F e b r u a r y 8, 191 1 ............................ 154,207.76
F e b r u a r y 5, 19 1 3 ............................ 164,182.61
A p r il 6, 19 1 4 ..................................... 177,615.87
N o v e m b e r 1, 191 5 ......................... 179,725.14
T h e p r e s e n t o fficers o f t h e b a n k a r e :
C. P . J o r d a n , p r e s i d e n t ; E . C. B r ig g s ,
c a s h i e r ; L u lu K u n d e ll, a s s i s t a n t c a s h ie r .
— A dv.
10
THE
NORTHWESTERN
BANKER
February, 1916
The Alton Savings Bank
Alton, Iowa
T h e p h o to g ra p h h e re w ith sh o w s one
o f t h e f in e s t b a n k i n g h o m e s in n o r t h
w e s t I o w a in a to w n t h e siz e o f A lto n ,
a n d h a s a t t r a c t e d f a v o r a b le a t t e n t i o n
o v e r a c o n s id e r a b le t e r r i t o r y .
The
b u i l d i n g w a s c o m p le te d in t h e e a r l y
p a r t o f D e c e m b e r, a n d D e c e m b e r 2 1 st
w a s d e s i g n a t e d a s t h e o p e n in g d a y . T h e
s a f e , v a u l t d o o rs , a n d o t h e r e q u ip m e n t
u se d b y th e b a n k a re in k e e p in g w ith
t h e b u ild in g , a n d t h e b e s t t h a t c o u ld b e
b o u g h t fo r th e n e e d s o f th e b a n k .
T h e A lto n S a v in g s B a n k w a s o r g a n
iz e d d u r i n g t h e m o n th o f S e p te m b e r l a s t,
a n d a s n e a r l y a l l t h e s t o c k is o w n e d b y
p r o m in e n t p e o p le o f A lto n a n d f a r m e r s
in t h e v i c in ity , i t is t h e r e f o r e a h o m e
i n s t i t u t i o n . T h e b a n k h a s b e e n in b u s i
n e s s o n ly a b o u t t h i r t y d a y s a n d a l r e a d y
e n jo y s a n ic e b u s in e s s .
T h e o ffic e rs a r e : J . N. K u h l, p r e s i d e n t ;
W illia m H e n s i n g , v i c e - p r e s i d e n t ; a n d
H a r r y Y a n d e r L in d é n , c a s h ie r .
The
b a n k , in i t s c i r c u l a r , a n n o u n c e s t h a t
i t w i l l b e p r o g r e s s i v e a n d u p to d a te ,
a n d t h a t e q u a l c o u rte s y a n d re s p e c t
w i l l b e e x te n d e d to a ll. I t s s l o g a n is,
“A b a n k f o r a l l t h e p eo p le.'”
BANK BUILDS NEW BUILDING AROUND THE
OLD ONE.
A Detroit bank needed larger quarters, but wished to
occupy the same site. Now it isn’t easy for a bank to
find temporary quarters during building operations,
becaues vault facilities are not commonly for rent.
What was to be done?
Ingenuity solved the problem. The bank stayed
where it was for the time being, and the larger building
was put up around it—just as if a big box were built
around a little one. Of course special facilities had to
be provided for the temporary entrance.
This unique piece of building work, in which many
nice problems were met, has drawn much attention
from contractors.
THE COMMERCIAL NATIONAL BANK OF
FORT DODGE, IOWA, WILL REMODEL
THEIR PRESENT QUARTERS.
The Commercial National Bank of Fort Dodge,
Iowa, have plans completed for remodeling their
present quarters. Work will begin as early in the
spring as weather permits. This change is largely
necessitated because the present quarters have be
come too crowded for their increasing business. A
large, directors room in the rear will become part of
the lobby and working quarters, thus nearly doubling
the present space. A new directors’ room will be fitted
up in the basement. The bank owns its building and
occupies a corner position. All fixtures, equipment
and devices will be entirely new and the most modern.
MANY BANKS ERECTED BY THE LYTLE COM A new front will be added to the outside. They ex
PANY OF SIOUX CITY, IOWA.
pect the change to cost upwards of $15,000.
. Many very beautiful buildings have been erected by
the Lytle Company of Sioux City, Iowa, builders and
designers of banks. A few of the banks which have
been constructed by this company are: First Nation FIRST NATIONAL BANK, WATERTOWN, S. D.,
TO BUILD.
al Bank, Fonda, Iowa; Spirit Lake National Bank,
Spirit Lake, Iowa; the National Citizens Bank, Lake
The razing of one of the first business blocks of
Benton, Minn.; the Worthington National Bank, Watertown, S. D., now occupied by the First National
Worthington, Minn.; Coleridge National Bank, Cole Bank, will begin early next spring to make room for
ridge, Neb.; the Abram Rutt National Bank, Casey, the new $75,000 bank building. The original building
Iowa, and the Citizens Savings Bank, Ayrshire, Iowa. was erected in 1880 and occupied by the Codington
The officers of the company are: Leonard Lytle, pres County Bank, which later became the First National.
ident; J. A. Raven, vice-president, and J. M. Lytle, . The new structure will embody all the latest ideas
secretary and treasurer.
in bank construction, with a terra cotta exterior.
The R O Ck f O rd State líank,
A n u m b e r o f s t r i k i n g im p r o v e m e n ts h a v e b e e n
m ad e in th e h o m e o f th is p ro g re s s iv e in s titu tio n
d u rin g th e p a s t y e a r.
F eb.
F eb.
F eb.
1916,
A n e w s t o r a g e v a u l t h a s b e e n c o m p le te d in t h e
b a s e m e n t, h o t w a t e r h e a t i n g p l a n t a n d p lu m b in g
a d d e d , a t i l e flo o r i n t h e lo b b y , n e w o a k flo o rs in
t h e offices, s a f e t y d e p o s it b o x e s , s t e e l file s a n d
f i x tu r e s in t h e v a u l t , a r t g l a s s i n t h e t r a n s o m s ,
a n d a n u m b e r o f l e s s e r i m p r o v e m e n ts w h ic h a d d
to t h e c o n v e n ie n c e a n d a t t r a c t i v e n e s s o f t h e
bank.
T h e R o c k f o r d S t a t e B a n k h a s a l m o s t d o u b le d
i t s d e p o s its d u r i n g t h e p a s t five y e a r s , a s s h o w n
b y t h e f o l lo w in g c o m p a r a t i v e s t a t e m e n t : C a ll
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Rockford, Iowa
8, 1911, $272,600.05; F e b . 7, 1912, $304, 615.93;
5, 1913, $348,366.72; J a n . 28, 1914, $396,975,71;
2, 1915, $472,526.95; d a i l y s t a t e m e n t , J a n . 19,
$525,527.18.
T h e p r e s e n t o ffic e rs o f t h e R o c k f o r d S t a t e
B a n k a r e : F . C. J o h n s o n , p r e s i d e n t ; B u r t o n C a rr o t t , v i c e - p r e s i d e n t ; B. A. W a lla c e ,
cash
i e r ; A. J e n k i n s o n , a s s i s t a n t c a s h i e r ; P . C. Y o co m .
a s s i s t a n t c a s h ie r .
B. A. WALLACE, Cashier
U n d e r th e a g g re s s iv e m a n a g e m e n t o f th e s e
g e n tle m e n , a n d w i t h t h e m a n y im p r o v e m e n ts
ad d ed d u r in g th e p a s t y e a r fo r h a n d lin g th e
b u s in e s s , r a p i d f u t u r e g r o w t h a n d p r o g r e s s a r e
a ssu red .
February, 1916
THE
NORTHWESTERN
BANKER
11
A Monument to Abram Rutt
veniences and means of service for
the people of the community here
tofore unprovided in Casey.
For instance, a very unusual
feature of this building is its
large rest room for ladies. This
occupies the entire mezzanine
floor over the rear of the large
lobby. It is beautifully fitted up,
and denotes excellent taste. It is
spacious, cozy, comfortable, home
like. Plenty of easy lounging
chairs, couch, writing desk, library
table with women’s magazines, and
set off with curtains, draperies and
rugs of unusual taste. Just the
correct amount of ferns and palms
to complete the setting. The ladies’
rest room, with plenty of clean
towels, is adjoining. This depart
ment supplied a much needed, but
seldom found, convenience for a
town of this size.
All other conveniences for the
public found in modern banks are
here. The private conference room
for confidential discussion opens off
the president’s quarters in front of
the lobby. The customers’ room is
in the basement, entered through
The many bankers in this section of the country who the bank and a rear door. There is a private telephone
knew Abram Rutt, Casey, Iowa, one of the leading booth; safety deposit boxes, reached through a private
bankers and citizens in western Iowa, will recognize counting room for customers; library table at the front
in the accompanying photograph a fitting monument of the lobby, with latest farm magazines; marble
to his memory.
settees along the wall; glass-topped check desk in the
No cemetery monument, no matter how large and center of the lobby, supplied with every accessory;
imposing, could have been appropriate. Mr. Rutt stood men’s wash room to the rear of the lobby;
for life, for accomplishment, system, efficiency, aggres an elegant, finely furnished director’s room to the rear *
siveness. And it will prove a lasting credit to those of the banking space—all these and other things are
who selected this memorial that they chose one which exponents of the word Service.
personifies the very things which characterized Mr.
The building is thoroughly fire-proof. All wood
Rutt’s life.
work is genuine mahogany. The large vault is of most
Abram Rutt was a superior man, a leader. Those modern type, built entirely within the building for
characteristics are embodied in this new home for the safety, and equipped with steel filing cabinets and other
bank he founded—it is a superior building, a leader in modern fixtures. All the old furniture and fixtures
bank construction. It is probably the finest banking were disposed of through one of the Northwestern
structure in western Iowa, and we doubt if it is sur Banker free classified ads, and every fixture and piece
passed in the entire country in any town near Casey’s of furniture is new and modern.
size.
The building has its own electric light plant, and a
Mr. Rutt stood for system. And certainly system is ventilating system by which a complete change of
made possible by the scientific arrangement of this washed air may be forced every ten minutes.
building, and its new modern fixtures, appliances and
The present officers of the Abram Rutt National
conveniences.
Bank are: S. Lincoln Rutt, president; Wm. Valentine,
And efficiency—it is here too. For the abundance of vice-president; Harlie E. Smith, cashier; S. T. Lawler,
light, night or day, the wonderful ventilating system, assistant cashier; John F. Thompson and Peter Lud
the modern equipment all furnish ideal working condi wig, directors. Its capital is $50,000; surplus and un
tions that make for a brand of efficiency the men of this divided profits, $25,000.
bank never knew before.
The officers and directors are certainly to be con
Take aggressiveness. A building as elegant, modern, gratulated upon their judgment in selecting a monu
and superior as this surely indicates aggressiveness of ment for Mr. Rutt as fitting as this structure, and for
a high order.
their foresight in erecting a building that will remain
But more important than these things is the principle for scores of years.
that has always been the slogan of this institution—
This building has attracted much attention among
SERVICE. Not only does this bank reflect service— bankers, not only in western Iowa, but throughout the
it has service literally built into it. It provides con Northwest.—Adv.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12
THE
NORTHWESTERN
FIRST NATIONAL BANK, FLANDREAU, S. D.,
REMODELS BUILDING.
The First National Bank of Flandreau, S. D., has
recently completed some very handsome remodeling
on their building.
The interior of the building has been enlarged,, giv
ing more space to the work room behind the counters
and also to the lobby room. The lobby has been fin
ished throughout in marble, the upper portion being of
imported Italian marble with Vermont marble base.
New bank fixtures of light oak and oxidized copper
have been installed and the ceiling and the upper walls
have been newly decorated. Two new rooms have
been added and will be reserved almost exclusively
for the use of patrons.
PROSPERITY VIEWS.
“I have never seen such prosperity as now prevails
in America, and especially in the central, northwest and
southern states,” said Jesse R. Clark, of the Union Cen
tral Life Insurance Co. “It is the voicing of the accu
mulated demand for improved equipment and more
land, and in the south it represents an astonishing re
covery from a depression which a year ago appeared
certain to be ruinous. This is a height of prosperity
which developed quickly but gradually, and I expect it
to continue indefinitely.”
“We are in a better condition to take care of any
thing that may occur after the war. We have our
federal banks to take care of any situation that may
arise. The value of the federal banks is being demon
strated at the present time when in the face of a large
demand for money to take care of the winter activities
BANKER
February, 1916
they are supplying a heavy demand from the agricul
tural districts for money to invest in feeders that will
take care of a large amount of the soft corn. The under
lying business principles are good in this country and
we ought to have a continued season of great prosper
ity,” so says George M. Reynolds, president of the Con
tinental and Commercial National Bank of Chicago.
John A. Cavanagh, vice-president of the Des Moines
National Bank, Des Moines, says: “Prosperity pros
pects for nation, state and city were never better than
at the beginning of this new year. We are not only
enjoying the greatest prosperity here in the middle
west that we have ever known, but the prospects are
that 1916 will eclipse 1915. Prosperity is being passed
around in such abundant fashion that there is a good
helping for all.”
FIRST NATIONAL BANK, LAKE CRYSTAL,
MINN., IN PROSPEROUS CONDITION.
The First National Bank of Lake Crystal, Minn., is
in a very good financial condition. The total resources
of the bank foot up near half a million or to be exact
$456,029.40. The capital stock is $30,000 and the sur
plus and undivided profits are,.$12,373.81.
At the annual meeting the following officers were
elected: G. Gutterson, president; William R. Cullen,
vice-president; James Thomas, cashier; A. N. Olson,
.Leo Olson, and W. L. Thomas, assistant cashiers.
The only change in the directorate of the bank was
Charles Fox, who was added to the board. Mr. Fox
is the mayor of Lake Crystal and one of the prominent
men of the city.
The State Bank of Renwick
Capital, Surplus and Profits $75,000.00
The building owned and occupied
by the State Bank of Renwick, at
Renwick, Iowa, has been recently
enlarged and remodeled, so that it
is now of the most modern design in
every respect.
New furniture and fixtures were
installed, as well as an adequate sup
ply of safety deposit boxes and a
steel screw door safe, affording the
utmost security.
The State Bank of Renwick was
the first bank in the county to in
stall a ledger posting machine, re
flecting the policy of its officers for
more than thirty years to keep fully abreast of
approved methods and to give the bank at all
times the stamp of stability and progress.
The present officers of the bank are: L. A.
McMurray, president; L. M. Smith, vice-presi
dent ; T. O. Heggen, cashier. The directors are:
L. A. McMurray, L. M. Smith, Homer A. Miller,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
T. O. Heggen, Conrad Elmer and S.
I. Gillespie.
The Farm Loan Department,
established in 1884, is under the
management of Cashier T. O. Heg
gen and makes a specialty of Corn
Belt farm mortgages. It is a matter
of special pride that this department
has negotiated millions of dollars of
farm loans for private investors, loan
and insurance companies, since its
organization, without the loss of a
dollar in interest or principal.
Correspondence is solicited from
interested parties. The record of the
past is ample assurance of conservative and able
management that fully protects the interests
of investors at all times.
The growth of the State Bank of Renwick
has been rapid but consistent, and with the
added facilities further progress is anticipated
with equal confidence.—Adv.
February, 1916
THE
NORTHWESTERN
13
BANKER
A. O. NETLAND ELECTED PRESIDENT OF systems) ; Grand Island National Bank, Grand Island,
Neb.; Citizens Bank, Stuart, Neb.; State Treasury,
THE STATE BANK OF NORTHFIELD, MINN.
A. O. Netland has succeeded Wm. W. Pye as presiDes Moines, Iowa; Winneshiek Co. State Bank, Dedent of the State Bank of Northfield, Northfield, Minn. corah, Iowa; Bennett Loan and Trust Co., Sioux City,
Mr. F. A. Ruhr succeeds Mr. Netland as vice-president. Iowa; Dakota State Bank, Oldham, S. D.; Citizens
Bank, Arlington, S. D.; First National Bank,
S. A. Netland continues as cashier and active manag State
Grand
Forks, N. D.; First National Bank, Williston,
ing officer of the bank.
D .; Farmers State Bank, Maddock, N. D.
The increase in the bank’s resources for the past year N.The
American Bank Protection Company is en
is about $50,000.
dorsed by state bankers’ associations and the leading
FARMERS AND MERCHANTS BANK, MARI bonding companies.
ETTA, MINN., DECLARES 12% DIVIDEND.
A. MOORMAN & COMPANY, ST. PAUL, DOING
The Farmers and Merchants State Bank of Marietta,
A SPLENDID BUSINESS.
Minn., has declared its third annual dividend of 12 per
A. Moorman & Company of St. Paul, Minn., exclu
cent. The deposits of the bank have increased over sive bank building designers and builders, have just
35 per cent since December 31, 1914. This is a splendid closed a remarkably successful year’s business where
showing.
in they constructed and remodeled some twenty-five
On September 1, 1911, the deposits amounted to buildings under their one contract method, designed
$12,818.28 and on December 31, 1915, they had soared some fifteen buildings as architects only and furnished
to the total of $117,256.85.
the interior equipment for some twenty-five buildings
other than those which they built themselves. This
THE AMERICAN BANK PROTECTION COM work covers the great Northwest, extending from
Sturgeon Bay, in northwest Wisconsin, to Minatare
PANY, MINNEAPOLIS, PROTECTS THOU
and Sidney, in extreme western Nebraska.
SANDS OF BANKS.
The outlook for the coming year is that they will
The American Bank Protection Company of Minne
apolis, Minn., is protecting thousands of banks with very substantially increase the fast growing list of
their electric burglar alarms and they have a clean Moorman built banks, as bankers are coming to real
record for sixteen years of protecting these banks, ize that the work of designing, building and equipping
whose deposits exceed three billion dollars, without a a bank building correctly is the work of specialists
and that it requires the experience of an organization
robbery or the loss of a dollar.
A few of the banks that are securely protected in such as Moorman & Company to insure that the build
this way are: Federal Reserve Bank, Minneapolis, ing will be constructed properly and will contain the
Minn.; Title Guarantee and Trust Co., New York (two conveniences so necessary to the modern bank.
THE SMITHLAND BANK, Smithland, Iowa
Responsibility
$300,000.00
M. A. Clark........................President
L. S. Gambs........................Cashier
Anna Hjort................ Ass’t. Cashier
Bank Building
Banking R oom
This strong financial institution, conducting a general banking, real estate and insurance business, was estab
lished in January, 1903, and occupied a frame building formerly used as an insurance office.
Its steadily increasing business in time made it necessary to secure larger quarters and it recently erected
and moved into the new and modern building shown above, not only giving it greater facilities for handling its
business, but also giving it one of the most up-to-date bank homes in the state and a structure that the people
of this community point to with much pride.
Contributing to the success of this institution is the fact that its officers have grown from boyhood in this
community and their wide acquaintance is a very valuable asset. The owners of this bank also own nine farms
comprising about twenty-five hundred acres of rich farming land within a radius of ten miles from Smithland,
and this being a private bank, all this land is additional security for its depositors, placing more than three dollars
in real estate back of every dollar of deposits and making it an institution of unusual strength.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
14
THE
NORTHWESTERN
BANKER
February, 1916
PEOPLES STA TE BANK
HUMBOLDT, IOWA
The remodeling of this bank has been so thorough and complete that it almost amounts to a new building, housing
modern equipment throughout.
The entire interior was rearranged and redecorated so that it is one of the most attractive banks in the state. Marble
was extensively used in the new fixtures and finish.
A feature of special note was the construction of a thoroughly modern vault, containing a burglar-proof safe of the
latest type.
The entrance was entirely changed during the process of remodeling, adding to the attractiveness and convenience
of the bank to its customers.
.
The Peoples State Bank, with Mr. Frank Corey as president and F. A. Ayers as cashier, is enjoying a rapid and
substantial growth. Its deposits have made a large increase during the past year. With the added facilities of the
remodeled interior, coupled with aggressive efforts for new business, the future progress of this substantial institu
tion is thoroughly assured.
SEVERAL CHANGES MADE IN THE OFFICERS
OF THE NATIONAL BANK OF THE
REPUBLIC, CHICAGO.
Some recent changes have been made in the official
staff of the National Bank of the Republic, Chicago.
R. M. McKinney, formerly cashier, has been elected
second vice-president; James M. Hurst, formerly as
sistant cashier, has been elected third vice-president,
and O. H. Swan, formerly assistant cashier, has been
promoted to the cashiership.
The entire official force now is as follows: John A.
Lynch, president; William T. Fenton, first vice-presi
dent; Robert M. McKinney, second vice-president;
James M. Hurst, third vice-president; O. H. Swan,
cashier; Wm. B. Lavinia, Thos. D. Allin and Louis
J. Meahl, assistant cashiers.
S. T. KIDDOO ELECTED VICE-PRESIDENT
LIVE STOCK EXCHANGE NATIONAL
BANK, CHICAGO.
On the day that Melvin A. Traylor was elected presi
dent of the Live Stock Exchange National, S. T. Kiddoo, for four years cashier of the Sioux Falls National,
South Dakota, was elected to the office of vice-presi
dent of the stockyards institution. Mr. Kiddoo was
last year president of the South Dakota Bankers As
sociation and has always been active in association
work, where he has made a large number of friends
and acquaintances throughout the Northwest. During
his term of office with the Sioux Falls National Bank
that institution more than quadrupled its deposits, and
he brings to the Live Stock Exchange National a
wide experience and thorough knowledge of the con
ditions and requirements of the banks of the North
west. He is thoroughly experienced in the handling
of cattle paper and will be a valuable addition to the
forces of the Live Stock Exchange National.
Mr. Kiddoo, as well as Mr. Traylor, is a young man,
but thirty-two years of age. His father is a big
fancy-stock man and farmer at Joy, 111., where he was
born. He was educated at Knox College, Galesburg,
and is married to the daughter of a well-known banker
at Mineral, 111. Before affiliating with the Sioux Falls
National Bank he spent four years in a small bank at
Wall, S. D., in the range country. Mr. Kiddoo is a
likable and progressive young man and his friends wish
him continued success and advancements in his new
location.
Fine New Home of Merchants National Bank, St. Paul,
Minnesota.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
John Jones has been elected to the position of cash
ier of the Parnell Bank, Parnell, Iowa.
7 s y p —At ~ v ilv ^i "
February, 1916
*
THE
NORTHWESTERN
BANKER
15
Do Your Present Quarters Give the
Impression of a Strong, Secure Financial Institution?
Study These Facts—54 Banks
Have Found Them Vital to
Their Increased Success.
i
Your banking quarters give to everyone
who sees them a certain impression. How
are these people impressed, Mr. Banker?
Imagine yourself a stranger to your institu
tion. Would they give you that unconscious
impression of strength, of security, stability,
dignity—the very things that should char
acterize a Banking Institution?
The people of your community, uncon
sciously or otherwise, instinctively compare
your bank with others—with the big, dignified
structures of other towns and cities, and
we judge everything by comparison.
It isn’t theory, but established fact, proven
by the experiences of scores of bankers like
yourselves, that a change to quarters that
characterize the things a bank stands for
means increased confidence, respect and
deposits.
Get this fact, Mr. Banker. Every bank
that we have designed has had a large and
permanent increase in deposits, and some
have actually doubled their deposits the
first year.
This fact alone is of sufficient importance
to justify you in remodeling or rebuilding.
But There Are Other
Reasons
Possibly you and your associates are now
working under a handicap. The Abram Rutt
National Bank of Casey, la., were agreeably
amazed at this fact. They now work under
conditions that enable a much higher degree
of working efficiency. Their modern quarters,
better facilities, perfect ventilation, ample
light—in a word, their now perfect working
conditions enable a maximum of efficiency
they never knew before. They would tell
you that this one advantage would more than
justify you in remodeling. Mr. S. Lincoln
Rutt, president of this bank claims he feels
their new building has even increased the
value of surrounding farm land, and that the
farmers themselves claim it.
54 Banks
Fifty-four banks, all impressive, dignified,
modern structures, all designed and built by
us to date. The officers of these banks will
tell you that their deposits have increased—
that they never knew what working efficiency
really meant until they occupied their new
quarters. All will tell you they were com
pletely satisfied with our services, and the
advantages of our system.
Further, these 54 institutions will never
have it to do again—their splendid quarters
are built for permanency.
Think of the impression a handsome,
dignified, new financial structure in your
town would have upon the people of your
community—just as these 54 have in their
communities. Think of the increased pres
tige and confidence it would inspire—of
the increased deposits that would result—
of the perfect, sanitary and highly efficient
working conditions yourself and associates
would have.
Then remember that once
it is done, it won’t be necessary again. The
first cost is the only cost. In buying auto
mobile tires, you figure the cost per mile.
Figure this in cost per year, and it is in
significant, in comparison to the great advanta'u s.
We put it up to your best judgment—
isn’t it worth study, investigation and
careful consideration? Weigh the facts.
{Continued on next page.)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
\\ V ü NEHE?
16
THE
NORTHWESTERN
BANKER
February, 1916
Our new system of building and
remodeling will
make building a pleasure instead of a burden and worry,
assure everything going through smoothly, without a single hitch,
complete the work ON TIME, no matter how limited your time.
—save you considerable money over the old system.
guarantee you the same high degree of satisfaction 54 other bankers
like yourselves have experienced.
Scores of bankers have gone through
no e n d of worry, planning, changing,
Ask any of the 54 bankers like your
self who recently erected new banking
s h i f t i n g , re p la n n in g ^ — o n ly to fin d o n
c o m p le tio n o f t h e i r b u i l d i n g t h a t s o m e
th in g w a s fo rg o tte n , le f t u n d o n e, or
s o m e th i n g s h o u ld h a v e b e e n a r r a n g e d
d if f e r e n tly .
s t r u c t u r e s u n d e r t h e L y tle S y s te m — w e
w ill g l a d l y f u r n i s h t h e n a m e s — a n d
w i t h o u t a s i n g l e e x c e p tio n w e a r e c o n
fid e n t t h e y w ill tell y o u t h e r e w a s n o
w o r r y , b u r d e n , o r f e a r f o r t h e o u tc o m e
c o n n e c te d w i t h t h e i r b u i l d i n g — t h a t
e v e r y t h i n g w a s v e r y s a t i s f a c t o r y to
th e m on c o m p le tio n . T h e y w ill t e l l y o u
t h a t t h e w o r k w e n t a l o n g s m o o th ly
w i t h o u t a h i t c h — t h a t w e s a v e d th e m
m oney u n d er our
.s y s te m — t h a t t h e
w o r k w a s fin is h e d o n tim e , t h o u g h
so m e re q u ire d th e e m e rg e n c y w o rk
o n ly a l a r g e , h i g h l y e ffic ie n t a n d s p e
c ia liz e d o r g a n i z a t i o n l i k e o u r s c o u ld
h a n d le .
Ask almost any banker who has re
cently constructed a new building ani
y o u w ill fin d t h a t t h i s w a s h is e x p e
rie n c e . I t is t h e r e s u l t o f th e o ld w a y
o f p r o c e e d in g a n d b u ild in g .
But you can avoid all this. Our sys
tem and our organization, our com
p l e t e e q u ip m e n t a n d f a c i l i ti e s , o u r lo n g
e x p e r ie n c e , s p e c ia liz e d o n b a n k b u i l d
in g s , d o a w a y w i t h it.
\ve believe they will all tell you prac
t i c a l l y t h e same t h i n g G e o . W . W a l
te rs , p r e s id e n t o f th e H a r la n B a n k ,
H a r l a n , I o w a , to ld u s . I n w r i t in g , M r.
W a l t e r s s a y s in p a r t , “I t h a s b e e n a
g r e a t p l e a s u r e to m e to b e, a b l e to
r e c o m m e n d t h e L y tl e C o m p a n y f o r h o n
o r a b le a n d s q u a r e d e a l i n g s i n
th e
b u i l d i n g o f o u r 'n e w b a n k b u ild in g .
Y o u r m e th o d s w e r e n e w to m e w h e n I
f i r s t t a l k e d to y o u , b u t I w o u ld n o t
n o w g o b a c k to t h e o ld m e th o d s . W h e n
o n e c a n g e t a c o n c e r n l i k e y o u r s to
t a k e o v e r a l l th e r e s p o n s i b i li t y a n d b e
r e lie v e d o f a l l c o n c e r n l i k e I w a s , i t
m a k e s it a re a l p le a s u re r a th e r th a n
a b u r d e n to b u ild , a n d s h o u ld ' I e v e r
b u ild o r im p ro v e a n o t h e r s t r u c t u r e , I
w o u ld j u s t t u r n i t o v e r to y o u a n d g o
v i s i t i n g . W is h in g , y o u t h e s u c c e s s y o u
d e s e rv e , I a m ,” e tc .
(Continued on last page of this insert.)
Here are some practical
suggestions—T h ese b a n k b u ild in g s w ere erected u n d er
th e L ytle S y ste m — s tu d y th e p la n s.
;m § i n m m m m i f M
--BHI
Three Popular Floor Plans
o iiiii
l
Ì
VAULT
1
H
F lIL r T
noon.
SEE®
CLAN
Citizens Nat. Bank
Royal, Iowa.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HIIHHH n O O l PLAN
Alton Savings Bank
Alton, Iowa.
m y T
Flood
»LAN
Abram Butt Nat. Bank
Casey, Iowa.
li
THE
February, 1916
NORTHWESTERN
BANKER
Believing that this very gratifying letter from the publisher
of the Northwestern Banker will mean more to you than anything we could tell you about our
selves, we have secured permission from Mr. DePuy to reproduce it here.
DJ V O ' ED TO THE B - N K I N G
INTERESTS OF THE
NORTHWEST
Cf)t jBtortijtoeStern panfcer
PUB LISHED
THE
BY
N O R T H W E S T f RN BANKER
P U B L I S H I N G CO,
i ^ e s jf l f l o i n e s , I l o t o a
C l i f f o r d D e P uy
P U B L I S H ER
SATURDAY,
Jan. 15th,
1916.
T H E LYTLE COMPANY,
Sioux City, Iowa.
Gentlemen:—
. . . .
I believe it will interest you to know th a t during the preparation
of our BAN K B U IL D IN G AND PRO SPERITY NU M BER, our
men have made personal visits of inspection and investigation to
scores of new bank buildings in the Northwest states, and th at
incidentally we have had the opportunity in this way of personally,
investigating the results of m any of the building and remodeling
jobs under your system.
I am sure vou will be pleased to know th a t our men, m every
case found the officers of these banks well pleased with the results
and w ith your system. Some were even enthusiastic. Our investi
gators report th a t your buildings compare A -l with any in this
section of the countrv, in m any instances being the finest building
in the town. They seem to be especially well designed to meet the
peculiar requirem ents of the bank.
(C o n tin u ed
next
co lu m n .)
In m any instances, our men found dissatisfaction over a finished
building or remodeling job, where something was done wrong, or
forgotten during the course of construction, b ut we found no instan
ces of this where your organization handled the work. The
trouble usually seems to be in letting too m any different concerns
handle the various phases of the work, and the resulting lack of
general harm ony and co-operation.
We have received some expressions about your new system
you m ay like to hear. These bankers seem to feel th a t it is an
advantage in th a t it does away with the fear of a general contractor
slighting the quality of the m aterial or in other ways cutting down
for his own benefit, when he contracts in a lump sum for the entire
job. They seem to feel th a t your system assures them of honest,
unbiased service, and th a t everything has been done for the best
of their interest, rather than the contractor having cause to work
for his own.
Now, I am holding w hat I consider the most pleasing news
for you to the last. Of the things we have found in this investiga
tion, it seems to me th a t this should mean the m ost to you. You
seem to have won the complete confidence of the bankers whom
your organization has served. I t is not only your system and the
satisfaction you seem to have rendered, b ut in your dealings with
them they have been impressed with your sincerity of purpose and
integrity. I believe most of these bankers would feel safe in en
trusting their work to you under ANY kind of a system.
You certainly have reason to be proud of your record, and I
congratulate you on it.
I just wanted to tell you these things, because I know w hat an
inspiration news of this kind is to us when it is we who are con
cerned.
Wishing you all possible success, I am,
Sincerely yours,
T H E N O R TH W E STE R N BANKER.
Clifford DePuy,
Publisher.
C.D. P.D.
Back o f th e
“Lytle S y s t e m
Service” is finan
cial soundness,
known integrity
and established
confidence.
These do n o t
come over night,
but are the slow
growth of years.
We are large
enough for the
largest building
a n d fo r a n y
emergency. The
coupon on next
page makes it
easy to get in
touch with us.
m
'
flt/T
FLOOL HAN
Mapleton Trust <&Savings Bank, Mapleton, Iowa.
i
■Ell
Interior view.
Spirit Bake National Bank.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Abram Butt National Bank, Casey,
Iowa.
(See next page.)
18
THE
N O R T H W E S T E R N . BANKER
February, 1916
Here’s Why, Mr. Banker
We are the ONLY concern specializ
ing in the design, construction, and
equipment of bank buildings that has
nothing to sell but a distinct, unbiased,
highly specialized SERVICE. Bank
designing and building is not our side
line—it is our specialty.
We place at your disposal our large,
fully equipped, specially trained organ
ization. We are adequately equipped
to carry out every detail—from the
first rough sketch (submitted free) to
the finished interior decorating. In
every branch, we give you the ad
vantage of specialized training and
long experience, plus the general har
mony and co-operation of one organ
ization.
As architects, for instance, we are
more efficient for the scientific and
proper planning of a bank structure,
and its peculiar needs, than the reg
ular practicing architect who does
not specialize on banks, but produces
plans for residences, churches and other
buildings.
We work with you, and for you.
Your interests are ours—must be under
our system. All we have to sell is
service.
Here's where we save you money.
We are the largest purchasers of build
ing material in this section of the
country, and can frequently save the
amount of our services (our one profit)
on the building material item alone,
to say nothing of the saving we effect
by the superiority of our organization.
Remember, you are not charged two
profits under the Lytle System. You
pay for all material. We charge no
profit on that. Our service fee is our
one profit—and you will know in ad
vance just what that amounts to. It
remains the same regardless of any
fluctuation in the final cost of the
building.
Sketches Are Free
On request, we will prepare, free of
charge, and without obligation on your
part, sketches embodying your ideas.
We will make estimates for a new
building or remodeling. With our es
timates of the cost of the work, you
can safely lay the m atter before the
board of directors and feel assured
that the final cost will be within the
amount appropriated.
You cannot afford to take a step
until you have consulted us in detail,
and know exactly what we are in
position to do for you. If you are
not yet ready to build or remodel,
tear our this complete advertisement
and pigeon-hole it for future reference.
The coupon in the corner is for your
convenience if you are interested.
T h e L Y T L E C O M P A N Y , Sioux City, Iowa
The LYTLE COMPANY, Sioux City, la.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ank
February, 1916
THE
SOME DEPOSITS ACCORDING TO T H E
NORTHWESTERN
19
LAST CALL.
Bank
Town
First National, Armstrong, Iowa......................... $
First National, Ayrshire, Iowa...........................
First National, Cambridge, Iowa.........................
City National, Clinton, Iowa................................
First National, Coon Rapids, Iowa......................
City National, Council Bluffs, Iowa....................
First National, Davenport, Iowa.........................
Iowa National, Davenport, Iowa.........................
Des Moines National, Des Moines, Iowa....... ..
Iowa National, Des Moines, Iowa.......................
Des Moines Savings, Des Moines, Iowa.............
Valley Savings, Des Moines, Iowa......................
Valley National, Des Moines, Iowa....................
Citizens National, Des Moines, Iowa..................
First National and Farmers & Citizens Savings,
DeWitt, Iowa ....................................................
Dubuque Savings, Dubuque, Iowa.......................
Second National, Dubuque, Iowa.........................
Iowa Savings, Estherville, Iowa.........................
Provident Savings, Estherville, Iowa................
First National, Indianola, Iowa...........................
Citizens Bank, Lake City, Iowa......... .................
First National, LeMars, Iowa.............................
First National, Lyons, Iowa................................
Lyons Savings, Lyons, Iowa................................
Citizens State, Mediapolis, Iowa.........................
First National, Milford, Iowa...............................
National State, Mt. Pleasant, Iowa......................
First National, New Hampton, Iowa..................
Second National, New Hampton, Iowa............
Ottumwa National, Ottumwa, Iowa....................
Wapello Co. Savings, Ottumwa, Iowa................
Oskaloosa National, Oskaloosa, Iowa................
Union Savings, Oskaloosa, Iowa.........................
First National, Rock Rapids, Iowa......................
Lyon Co. National, Rock Rapids, Iowa..............
Continental National, Sioux City, Iowa.............
First National, Sioux City, Iowa.......................
Live Stock National, Sioux City, Iowa..............
Security National, Sioux City, I o w a ..............
Citizens National, Storm Lake, Iowa................
Commercial National, Waterloo, Iowa..............
First National, Hastings, Neb..............................
First Bank of Miller, Miller, Neb.........................
First National, Omaha, Neb..................................
Live Stock National, Omaha, Neb.......................
Merchants National, Omaha, Neb.......................
Stock Yards National, Omaha, Neb...................
U. S. National, Omaha, Neb................................
Scottsbluff National, Scottsbluff, Neb................
Saunders Co. National, Waboo, Neb...................
Nebraska State Savings, Wahoo, Neb................
Farmers & Merchants, Argyle, Minn............ .
First National, Brainerd, Minn...........................
Fergus Falls National, Fergus Falls, Minn.........
First & Security National, Minneapolis, Minn...
Northwestern National, Minneapolis, Minn.......
Minnesota Loan & Trust, Minneapolis, Minn...
Merchants National, St. Paul, Minn...................
Stock Yards National, So. St. Paul, Minn.........
Citizens State, Trosky, Minn................................
First National, Grand Forks, N. D.......................
Bank of Brookings, Brookings, S. D...................
First National, Colman, S. D..............................
First Trust & Savings, Mitchell, S. D................
Commercial & Savings, Mitchell; S. D................
First National, Mitchell, S. D..............................
Mitchell National, Mitchell, S. D.........................
Mitchell Trust, Mitchell, S. D..............................
Western National, Mitchell, S. D.......................
Security National, Sioux Falls, S. D..................
Sioux Falls Savings, Sioux Falls, S. D................
Dakota State Bank, Tripp, S. D..................... .
Continental & Commercial National, Chicago..
Live Stock Exchange National, Chicago.............
National Bank of Republic, Chicago.................
Corn Exchange National, Chicago......................
Union Trust Co., -Chicago....................................
Mechanics & Metals National, New York, N. Y..
National Park Bank, New York, N. Y................
Guaranty Trust Co., New York, N. Y..................
Hanover National, New York, N. Y.....................
Seaboard National, New York, N. Y....................
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BANKER
Deposits
209,568.73
190,883.27
161,616.81
2,839,084.91
271,078.37
1,153,407.99
3,054,195.52
2,588,742.34
6,602,355.43
7,273,043.85
2,534,516.46
1,206,738.53
2,532,052.01
1,881,542.05
1,068,510.63
1,000,212.62
1,500,828.67
538,295.86
422,817.56
251,690.84
316,847.37
1,117,901.72
627,398.95
1,348,729.31
660,794.47
338,736.28
480,789.50
641,523.14
702,438.76
1,150,245.28
440,142.74
631,878.19
325,486.42
343,393.29
422,995.83
397,435.39
6,174,816.30
2,612,298.75
3,659,979.76
491,377.50
2,472,502.44
1,400,859.55
91,719.00
12,116,626.21
2,718,940.44
7,780,926.50
6,183,929.12
13,204,271.44
350,466.78
297,689.20
204,002.74 National Bank of Commerce, New York, N. Y... 257,415,315.88
476,177.53 Bank of North America, Philadelphia, Pa.......... 16,951,876.08
1,061,679.55 First National, Philadelphia, Pa........................ 30,877,787.92
1,056,667.34 Fourth Street National, Philadelphia, Pa........... 52,963,826.37
64,910,114.41
45,757,466.40
3,555,577.18 SEVERAL CHANGES IN OFFICIAL STAFF OF
26,013,088.38
FIRST NATIONAL BANK, CHICAGO.
2,424,250.46
113,449.31
Several changes have taken place in the official staff
2,451,005.80 of the First National Bank, Chicago, which in addition
1,055,810.07
233,693.15 to the election of James B. Forgan to the position of
159,526.54 chairman of the board and F. O. Wetmore to the
634,633.34 presidency are as follows:
570,185.75
Charles H. Newhall, owing to the condition of his
1,286,520.74
295,700.01 health, has retired from the vice-presidency in charge
582,202.88 of Division E and has been succeeded in that position
2,843,059.47 by William J. Lawlor, formerly assistant cashier. John
2,600,149.82
199,690.81 P. Oleson has been advanced from the position of as
204,507,924.87 sistant cashier to that of vice-president and James B.
13,270,742.97 Forgan, Jr., has been transferred from the Second Se
25,484,483.26 curity Bank to the position of assistant cashier to
79,659,593.12
29,338,284.03 assist Mr. Lawlor, vice-president, in Division F, while
203,067,353.31 Arthur P. Kemp has been advanced to the position of
166,474,440.33 assistant cashier to take the place of Mr. Lawlor in
418,549,861.99
169,526,251.52 Division C under Charles N. Gillett, vice-president, and
48,680,211.75 H. A. Howland, cashier.
20
THE
NORTHWESTERN
BANKER
February, 1916
THE A N IT A BANK, ANITA, iowa
T h e n e w h o m e s h o w n in t h e a c c o m
p a n y in g p h o to g ra p h c ro w n s a lo n g r e c
o rd o f p ro g re s s fo r th e A n ita B a n k ,
A n ita , I o w a , w h ic h w a s e s t a b l is h e d in
1876 a n d is t h e o ld e s t i n s t i t u t i o n in t h a t
p ro g re s s iv e
c ity .
The
bank
w as
f o u n d e d b y C. M. M y e rs . H o n . J o h n C.
Y o o r h e e s w a s E le c te d p r e s i d e n t in 1903
a n d u n d e r h is d ire c tio n th e p ro g re s s of
th e in s titu tio n h a s b e e n m a rk e d . H a r ry
C. F a u l k n e r is. c a s h ie r , L e o n G. V o o r h e e s a n d W . D. ¡Sm ith, a s s i s t a n t c a s h ie r s .
T h e c a p i t a l a n d r e s p o n s i b i li t y o f th e
b a n k a r e n o w $150,000.
T h e n e w b u i l d i n g w a s e r e c t e d to s e
c u r e in c r e a s e d 'e f f ic ie n c y a n d to e x p r e s s
i t s o ffic e rs’ f a i t h in t h e f u t u r e o f t h e
c o m m u n ity . P e r f e c t l i g h t i n g , v e n t i l a
SCANDINAVIAN-AMERICAN BANK OF GRAF
TON, N. D., MAKES REMARKABLE SHOW
ING DURING THE TWO YEARS SINCE
ITS ORGANIZATION.
The Scandinavian-American Bank of Grafton, North
Dakota, was organized in 1913 and is in its own build
ing, which is two stories, faced with Hebron pressed
brick and white Bedford stone trimmings and cornice.
The fixtures of the bank are of antwerp oak, as are also
the desks and chairs. The walls are painted to height
of wainscoting to give a leather effect.
The officers are: J. L. Cashel, president; Gunder
Olson and G. N. Midgarden, vice-presidents; T. O.
Chantland, cashier, and M. J. Cashel, assistant cashier.
The deposits at the end of the first year’s business
t i o n a n d e q u i p m e n t a r e n o ta b le f e a t u r e s
t h a t im p re ss th e v is ito r. T h e in te r io r
f in is h is m a r b le , t i l e a n d o a k . T h e w a lls
a r e a t t r a c t i v e l y d e c o r a te d . T h e v a u l t
is o f t h e l a t e s t s t e e l lin e d c o n s t r u c t i o n ,
o n a f o u n d a t i o n o f c o n c r e te e x t e n d i n g
s e v e r a l f e e t b e lo w g r o u n d , e q u ip p e d
w i t h s t e e l f ilin g c a b in e ts , b u i l t - i n s a f e
a n d 150 s a f e t y d e p o s it b o x e s .
The
b u i l d i n g is e l e c t r i c l i g h t e d a n d t h e r e
a r e c o n v e n ie n t c o n f e r e n c e ro o m s a d
j o i n i n g t h e p r e s i d e n t ’s office, a ls o a
l a d i e s ’ r e s t ro o m .
T h e p e o p le h a v e s h o w n t h e i r c o n fi
d e n c e in t h i s b a n k a n d i t s o fficers b y
e l e c t i n g P r e s i d e n t V o o r h e e s to r e p r e
s e n t t h e d i s t r i c t in t h e s t a t e s e n a te .
— A dv.
were $50,000 and on December 31, 1915, they were
$241,000. The total resources of the bank now are
$300,000.
JAMES C. DAVIS ELECTED VICE-PRESIDENT
OF THE KEOKUK SAVINGS BANK,
KEOKUK, IOWA.
At the annual meeting of the directors of the Keokuk
Savings Bank, Keokuk, Iowa, the following officers
were elected: A. E. Johnstone, president; H. L. Connable, vice-president; James C. Davis, vice-president;
F. W. Davis, cashier, and H. W. Wood, assistant cash
ier. Mr. Davis, before changing his residence from
Keokuk to Des Moines, was vice-president of this
First National Bank of Rock Rapids, Iowa
If ever a bank deserved a fine in farm loans on its books. It also has a large Life Insurance*
new home, it is the First Nation department.
al of Rock Rapids, la. It has de\
Recently the interior of the bank was entirely remodeled.
served a new home, and it is A representative of the Northwestern Banker found it to be
now a realization, one of which one of the most attractive, up-to-date and efficiently arranged
its officials may well be proud.
banks in Northern Iowa. It is indeed a credit to the com
The First National has an un munity—lastingly so. It is finished in Colorado Yule marble,
usual record, due in large meas which is pure white, and gives the bank a distinctive and
ure to the aggressiveness, in attractive individuality. The woodwork is mahogany, with
itiative and ability of its pres brass trimmings.
ident, Mr. Chas. Shade.
The vault is large and in three sections. The most pleas
Mr. Shade is well known ing feature, however, is the fact that everything is ideally
among the Bankers of the North arranged for convenience and banking efficiency.
west and in 1913 was elected
The people of Rock Rapids have every reason to be proud
president of the Iowa Bankers of this institution, both as a beautiful and modern bank and
Association. He is president of as a successful institution.—Adv.
some unusually s u c c e s s f u l
banks. Perhaps his greatest
record was made as cashier and
president of the Savings Bank
of Larchwood, Iowa. Under his
active management, this bank
always paid a ten percent divi
dend, and has made $198,000 out
of its original capital of $7,500. The capital of this bank is
now $90,000.
CHA.SGSHADE, President
Mr. Shade assumed the pres
idency of the First National at
Rock Rapids in 1902. Under his administration its capital
has been increased from $50,000 to $100,000, its surplus from
$10,000 to $40,000, and $10,000 undivided profits accumulated,
thus making a total increase from $60,000 to $150,000. In the
meantime this bank has always declared a dividend of 8% or
better, has paid its stockholders, up to January, 1915, an av
erage of 22% per cent net, and has increased the value of
its stock from $110.00 to $300.00 a share.
In addition, a Farm Loan department has been added, which
is no small part of the business, and now has over $9,000,000
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
February, 1916
THE
NORTHWESTERN
21
BANKER
bank and his re-election is pleasing to his many Keokuk
friends.
The directorate of the bank was increased from five
to seven members. The membership is as follows:
A. E. Johnstone, H. L. Connable, F. W. Davis, B. B.
Jewell, B. L. Auwerda, James C. Davis, Edward K.
Johnstone. The last two are the new members.
THE
WORTHINGTON
SAVINGS
BANK,
WORTHINGTON, IOWA, HAS NET EARN
INGS FOR THE YEAR OF 41 PER CENT.
The Worthington Savings Bank of Worthington,
Iowa, has just closed one of the most successful years
in its history, with net earnings of 41 per cent.
All the officers and directors were re-elected and it
was decided to increase the capital from $11,000 to
$25,000. The bank was organized in 1900 and a divi
dend of 10 per cent has been declared for several
years. On December 31, 1904, the deposits amounted
to $79,181.39, and on December 31, 1915, they totaled
$220,632.51.
S. B. Lattner is president, W. D. White vice-presi
dent and Edw. Tobin cashier.
STATE BANK OF WATERTOWN
WATERTOWN. MINNESOTA
(.Now Under Construction)
Plan Your Building
Early
THE FIRST NATIONAL BANK, ADAIR, IOWA,
ELECTS OFFICERS.
The First National Bank of Adair, Iowa, has elected
its officers for the ensuing year as follows : M. H.
Welton, president; M. L. McManus, vice-president;
H. C. Westergaard, vice-president; M. I. Westergaard,
cashier, and J. F. McManus, assistant cashier.
The deposits of the bank have been increasing stead
ily since the first of November, when the new manage
ment took over the affairs of the bank.
The capital of the bank is $35,000.00.
Few bankers appreciate the savings
to be made in carrying on building op
erations by starting the planning of the
new building in the fall or early winter.
There are three very important reasons
for this:
JOHN WITTE, JR., ELECTED ASSISTANT
CASHIER OF THE PEOPLES SAVINGS
BANK, ST. BENEDICT, IOWA.
At the annual meeting of the stockholders of the
Peoples Savings Bank, St. Benedict, Iowa, the same
officers and directors were re-elected. The increase of
business during the past year has warranted an increase
in the office force, and accordingly John Witte, Jr., has
been elected assistant cashier. The regular 10 per cent
dividend was declared and $1,000 was set aside as a sur
plus fund.
FIRST: A saving of from five to fifteen
per cent is made possible by buying skill, labor,
and materials when the markets are low.
SECOND: Promptness and delivery on
time are made possible by avoiding congested
markets.
THIRD: Keener competition will result,
as contractors are usually unemployed during
the winter and early spring.
PLAN IT EARLY AND HAVE
MOORMAN PLAN IT
J. Z. MILLER, JR., RESIGNS AS FEDERAL RE
SERVE AGENT AT KANSAS CITY, MO.
J. Z. Miller, Jr., federal reserve agent and chairman
of the board of directors of the federal reserve bank
at Kansas City, recently resigned and was immediately
elected governor of the bank. Charles M. Sawyer,
who was governor, will succeed Mr. Miller as federal
reserve agent.
We have prepared an interesting little pamphlet,
outlining the many advantages of carrying on building
operations early, which will be mailed free to bankers up
on request, together with our book of Bank Buildings.
FIVE AND A HALF MILLION DOLLAR IN
CREASE IN ABERDEEN BANK CLEAR
INGS OVER 1914.
The banks of Aberdeen, S. D., gained last year
$5,576,137.95 in bank clearings over the year of 1914.
The year showed a general rising business from
month to month, closing with the clearings reaching
the $4,000,000 mark every month during the last
quarter.
In November the clearings reached the highest figure
they have ever been in the history of the city, the
figure for that month being, $4,630,734.
SAINT PAUL
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A . MOORMAN &
COMPANY
MINNESOTA
At the meeting of the directors of the First National
Bank, Brooklyn, Iowa, President B. M. Talbott and
Edwin H. Talbott, assistant cashier, were re-elected.
Mr. N. H. Wright resigned as cashier and A. B. Tal
bott was elected to the cashiership. R. J. Breckenridge
was elected vice-president.
22
THE
NORTHWESTERN
These unprecedented figures denote a steady increase
in business in Aberdeen during the year, and an ex
ceptionally heavy business during the fall and winter
months, which was brought about by the marketing
of the season’s bumper grain crop.
BANKER
February, 1916
public. These offices were situated in a row along the
north side of the Forum on the street called Janus, the
Wall Street of the time. This spot is known to have
been frequented by bankers and money changers since
the fourth century B. C., although the present buildings
date from a period two hundred years later, when the
FIRST NATIONAL BANK, OMAHA, TO HAVE old shops were destroyed by fire. When reconstructed
they were amalgamated into the Basilica Aunilia, the
A VERY HANDSOME STRUCTURE.
The fourteen-story building for the First National new court-house built by Lucius Aeurilius Paulus,
Bank of Omaha, Neb., shows in the plans a marble, overlooking the public square.
tile and brick finish. The entire second floor, together
The offices were distinguished by numbers on pillars
.with the mezzanine and fourth floors, will be occupied of the portico outside. We find reference to one of
by the bank and the First Trust Company. The main them in the works of Catullus.
floor will be used exclusively as a counting room, all
Our sense of the actuality of ancient civilizations is,
of the working force, other than tellers and bookkeep perhaps, never stirred so strongly as when we look
ers, being on the mezzanine floor.
upon the scenes of their every-day transactions. The
The main banking room on the second floor, 60 by Parthenon and the Coliseum fail to give us that feeling
130 feet, is treated on the order of a Roman colonnaded of intimacy with the Greeks and the Romans which we
basilica with central lobby rising two stories high, have when we see what is left of the less pretentious
thirty feet wide and ninety-six feet long, finished in buildings in which the ordinary business of the day
Tennessee marble, with vaulted ceiling divided into was carried on.
panels by segmental arches.
Th well-worn marble floors of these re-discovered
offices were found covered with loose coins which must
have been scattered at the time of a great fire, as many
BANKING IN THE DAYS OF ROME.
Impressive and interesting are the ruins, according coins have been melted and welded together and ce
to Noble Foster Hoggson, which remain of what once mented against the marble slabs of the pavement.
were the banking establishments of the Roman Re
An ancient bank consisted of a large, solidly con
structed, though ill-furnished and badly
lighted apartment in which the money
changer sat on a high stool with his coins
spread out before him under the protection
of a wire netting.
An American teller would speedily have
felt at home in these surroundings. We are
apt to think of Roman bankers merely as
money changers, forgetting that the broad
and complicated commerce of Rome re
quired a banking system of nearly as high
a development as our own. A part of an
ancient banker’s daily routine would in
clude the opening of accounts, the receipt
of deposits, the issuing of bills of exchange,
the furnishing of letters of credit, the mak
ing of loans, the purchase of mortgages; in
fact, most of the transactions performed by
a modern cashier and his assistants. Inter
est was paid on time deposits, such deposits
being termed credits as distinguished from
the deposits which were deposits subject to
call, and on which no interest was paid.
The rates of interest in use were, at first,
high, but decreased in the last days of the
Republic until, under the Empire, they
were close to the modern rates, two and a
half per cent being once recorded.
Although we have no evidence as to the
existence of regular savings banks, we
know that money could be put at interest
or laid by for future emergencies in three
w ays: First, by trusting it to bankers; sec
ond, by entrusting it to priests, and third,
by depositing it in safes guaranteed by the
state. As regards the first case, that is, to
save the depositor the trouble or danger of
keeping the money and making payments
at home, the banker paid no interest, but
simply honored the checks of the client as
Fine New Home of the First National Bank, Omaha.
long as there was a balance in his favor,
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Federal Reserve Bank of St. Louis
February, 1916__________
THE
but when the money was deposited as a
creditum, that is, at interest for a speci
fied period of time, the banker was
allowed to use and invest it to the best
of his judgment.
Ample facilities were furnished by
the state for the safe-keeping of money
and other valuables. Public reposi
tories were maintained by the govern
ment in which the citizens were given
the use of guarded safe deposit vaults.
The ruins of the buildings used for this
purpose, some of which are of vast ex
tent, give us a very definite idea of the
solidity of the Roman economic system
and the secure and firm foundation
upon which its wealth was founded.
It savors of triteness to say that the
Romans built for eternity, yet the
words are expressive. Great care was
lavished on unobtrusive details, and
flimsiness of construction, whether of
the building of a public repository or
the organization of a department of the
government, was ever avoided.
NORTHWESTERN
BANKER
23
The Fool does in the end W h at the W ise M an does in
the beginning.
Anonymous.
Sharp People Use the
SVm SM RP
Perfect Pointed Pencil
T HE
EVERSHARP
Is always sharp, but never sharpened.
It holds eighteen inches of lead, either black or
indelible.
It can be refilled a thousand times.
It is the finest finished and most perfectly bal
anced writing instrument in the world.
Thousands of users in all walks of life pronounce
it indispensable.
Buy it, try it, test it for ten days and if you find
that you can do without it, bring it back and get
your money.
NO MORE WHITTLING.
NO MORE PENCIL SHARPENERS.
THE BANK IN THE SKY
SCRAPER.
STYLES AND PRICES
P l a i n G e r m a n S ilv e r ...............................
S 1 00
The value of the tall piles we know
H e a v y T r ip le P l a t e d S ilv e r, C h a s e d o r P la in ..!!”!! L50
F i n e s t S t e r li n g S ilv e r, P l a i n ............................................. 2.50
as skyscrapers is no longer questioned,
F i n e s t S t e r li n g S ilv e r, C h e c k e r e d ...........................!. ' 3 00
says William C. Lengel. Bearing the
F i n e s t S t e r l i n g S ilv e r, H a n d E m b o s s e d , F o r g e t m e - n o t D e s ig n .........................................
4 00
names of the banks occupying the first
H e a v y 12K G o ld F i l l e d .......................................
......... 3'oo
S a m e D e s ig n , N ic e ly C h e c k e r e d ...........................
3*50
or the first two stories, these inspiring
C o lo n ia l S ty le , E n g r a v e d 12K G o ld F ille d , a n e x
structures, piercing the very clouds,
c e p t i o n a l l y a r t i s t i c d e s i g n ..................1.......
4 00
14K S o lid G o ld ................................................................ _
2o!oO
bring to those institutions an enviable
14K S o lid G old, N ic e ly E n g ra v e d ..'................................. 25.00
prestige.
E l a b o r a t e H a n d E n g r a v e d , 14K S o lid G old, t h e
f in e s t f in is h e d p e n c il m a d e .......................................... 50.00
It is from the investment standpoint,
A ll t h e a b o v e p e n c ils , e x c e p t t h e G e r m a n S ilv e r,
a r e e q u ip p e d w i t h o u r n e w c o v e r e d e r a s e r , w h ic h is
however, that the combination bank
in v is ib le , e x c e p t w h e n in a c t u a l u se .
and office building is proving most at
A ll p e n c ils h a v e p o c k e t c lip s a t t a c h e d u n l e s s o t h
e r w is e o r d e re d .
tractive. An office building properly
E x t r a le a d s , p e r b o x o f tw e lv e , e n o u g h to fill t h e
p e n c il, B la c k , 25c; I n d e lib le , 35c.
executed will pay a splendid return on
M a il o r d e r s fille d p r o m p tly .
the investment. This is particularly
G U A R A N T E E : W e w ill r e f u n d y o u r m o n e y a t a n y
t i m e , w i t h i n t e n d a y s i f y o u a r e in a n y w a y d i s s a t i s
true in medium sized cities. Here
fied w i t h a n E V E R S H A R P .
ground values have not become so high
as to make the relation between the
EVERSHARP PENCIL COMPANY
Value of site and the cost of the struc
1149 Peoples Gas Building
ture disproportionate. No office build
ing, , where proper consideration has
CHICAGO
been given to the manifold details of the
proposition should pay less than a five
per cent return on the investment, and many of them vidual bank building, owing to the excessive rental that
pay much more.
would be necessary. An office building, income-pro
The location of the building, the planning and the ducing, relieves the bank of the prohibitive rental that
cost are the all-important elements. In the planning, would be called for by an individual structure, and helps
both as to the bank interior and the office rooms above, to defray the expense of the rental for the space occu
too much care cannot be given. A poorly planned pied in the skyscraper. Often a bank has trouble in
office building is foredoomed to failure. A bank build financing an operation of. this kind, and it becomes
ing may be most impressive in appearance, yet possess necessary to form a holding company to carry the
faults of arrangement which cause permanent incon property. This alternative is generally far -from
venience to its occupants. A banking room, too, is advantageous.
primarily a place in which to transact business, and
secondarily an object for admiration, so it is evident
An organization has been formed recently that is
that the inside layout and arrangement must be con furthering a feasible plan for'financing bank buildings.
sidered first.
The advantage of a high priced, prominent corner Through this organization a bank may secure any site
lot upon which to build a bank is generally appreciated. it desires, have a modern building erected to suit its
The cost, however, frequently places affixed charge on growing requirements for years to come, and all with
it for ground rent which practically precludes’an indi out putting any of its own capital into the project.
I ra
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Federal Reserve Bank of St. Louis
THE
24
NORTHWESTERN
BANKER
February, 1916
Fergus Falls National Bank, Fergus Falls, Minn.
T h e a c c o m p a n y in g c u t s h o w s t h e
h a n d s o m e n ew b u ild in g o f th is p r o
g r e s s i v e i n s t i t u t i o n , w h ic h is g r o w i n g
r a p i d l y h u t s o lid ly w i t h t h e g r o w t h a n d
b e t t e r m e n t o f t h e c o m m u n ity .
T h e c a p ita l s to c k h a s j u s t b e e n in
c r e a s e d f r o m $70,000 to $100,000, to p r o
v id e t h e in c r e a s e d li n e s o f c r e d i t d e
m a n d e d b y t h e d e v e lo p m e n t o f t h e s u r
r o u n d i n g c o u n tr y .
T h e F e r g u s F a lls N a tio n a l n o w h a s
d e p o s its o f o v e r $1,000,000.00, a n d r e
f le c ts t h e p r o s p e r i t y o f t h e P a r k R e
g io n . T h e n e w b u i l d i n g p r o v id e s s a f e
t y d e p o s it v a u l t s a n d e v e r y m o d e r n
c o n v e n ie n c e a n d s e rv ic e . I t m a k e s a
s p e c ia lty o f f a rm lo a n s a t lo w e s t r a te s
WADE KIRKPATRICK ELECTED VICE-PRESI
DENT OF THE FIRST NATIONAL BANK
AND THE HEDRICK STATE SAV
INGS BANK OF HEDRICK, IOWA.
At the regular meeting of the board of directors of
the First National Bank and the Hedrick State Sav
ings Bank of Hedrick, Iowa, the following officers
were elected: W. H. Young, president; Wade Kirk
patrick, vice-president; W. W. Young, cashier, and
N. W. Bowlin, assistant cashier.
The combined capital and surplus of the bank is
$58,000,000.
and enjoys a
l a r g e b u s i n e s s in t h i s d e
p a rtm e n t.
P e r s o n a l s e r v ic e i s t h e w a t c h w o r d o f
t h e F e r g u s F a l l s N a t i o n a l B a n k . I t is
n o t c o n t e n t w i t h m e r e ly l o a n i n g m o n e y .
I t s e e k s to h e lp e v e r y p a t r o n i n a ll
l e g i t i m a t e w a y s . T h a t t h e p e o p le a r e
q u ic k t o a p p r e c i a t e t h i s b r o a d a n d l i b
e r a l p o lic y is d e m o n s tr a t e d b y t h e r a p
id g r o w t h o f t h e b a n k , r e q u i r i n g t h e
e r e c t i o n o f a m o d e r n b u i l d i n g w h ic h w e
a r e p le a s e d to s h o w in c o n n e c tio n w i t h
th is a rtic le .
T h e o ffic e rs o f t h e b a n k a r e : J o s e p h
S. U lla n d , p r e s i d e n t ; E . H . R ic h , v ic e p re s id e n t; F r a n k J. E v a n s , c a s h ie r;
H e n r y G. D a h l, a s s i s t a n t c a s h ie r .— A dv.
Sleeper, president; W. P. Iverson, vice-president; H.
P. Mousel, cashier.
THE MANY NEW BANK BUILDINGS ERECTED
INDICATE SUBSTANTIAL PROSPERITY.
The fact that hundreds of banks in the fertile terri
tory covered by The Northwestern Banker have built
new buildings or remodeled—many of them very ele
gant—tells in a forceful way the prosperity of this
section.
The following are some of the banks which have
erected new structures or remodeled during the past
year or more:
THE UNION BANK OF SHELDON, IOWA, BE
Iowa.
COMES THE UNION STATE BANK.
Albert City, Farmers Savings Bank; Albia, First National
Articles of incorporation have been filed for the re Bank; Alburnett, Savings Bank; Altoona, Altoona Savings
organization of the Union Bank of Sheldon, Iowa, a Bank; Anita, Anita Bank; Alta, Alta State Bank; Ashton,
Ashton State Bank; Alton, Alton Savings Bank; Ayrshire,
private institution, into the Union State Bank.
Citizens Savings Bank; Britt, Commercial State Bank; Britt,
A. W. Sleeper, who continues owner of a large in First National Bank; Brandon, Farmers Savings Bank;
terest in the newly organized bank, first started in the Bellevue, Bellevue State Bank; Breda, Farmers State Bank;
banking business in 1878. The officers are: A; W. Brooklyn, First National Bank; Bloomfield, The National
B y J . N. D in g , D e s M o in e s R e g is t e r .
LET 'ER COME
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Federal Reserve Bank of St. Louis
Bank; Bridgewater, Bridgewater Savings Bank; Boyden,
Boyden Bank; Carlisle, The Citizens Bank; Cumberland, First
National Bank; Clermont, Farmers Savings Bank; Central
City, Central City Savings Bank; Clarence, Clarence Savings
Bank; Cantril, State Bank of Cantril; Centerville, Center
ville National Bank; Casey, Abram Rutt National Bank; Ded
ham, German American Bank; Des Moines, Mechanics Sav
ings Bank; Dyersville, The German State Bank; Eddyville,
Eddyville Savings Bank; Elkader, Elkader State Bank; Eagle
Grove, Security Savings Bank; Fort Madison, Fort Madison
Savings Bank; Farragut, The Commercial Savings Bank;
Fort Dodge, Fort Dodge National Bank; Fonda, First National
Bank; Forest City, First National Bank; Guthrie Center,
First National Bank; Grinnell, Grinnell Savings Bank; Glidden, First National Bank; George, First National Bank; Gold
field, Citizens State Bank; Hopkinton, The Hopkinton State
,Bank; Hospers, Hospers Savings Bank; Iowa City, Iowa City
State Bank; Indianola, Warren County State Bank; Indianola, First National Bank; Iowa Falls, Peoples Trust & Savings
Bank; Ira, Farmers Savings Bank; Iowa City, Johnson County
Savings Bank; Keota, Farmers Savings Bank; Kesley, Bank
of Kesley; Luxemburg, Luxemburg Savings Bank; Letts, The
Citizens Savings Bank; Lockridge, Lockridge Savings Bank:
Livermore, State Bank of Livermore; Lester, Citizens Savings
Bank; Larrabee, Farmers State Bank; Lone Tree, Lone Tree
Savings Bank; Lyons, Iowa State Savings Bank; Lake View,
Lake View State Bank; Martinsburg, Martinsburg Bank;
Massena, Massena Savings Bank; Madrid, Madrid State Bank;
Marathon, First National Bank; Manchester, First National
Bank; Macksburg, Macksburg National Bank; Monticello,
Jones Co. Trust & Savings Bank; Oskaloosa, Peoples Trust &
Savings Bank; Oxford Junction, Oxford Junction Savings
Bank; Ocheyedan, Bank of Ocheyedan; Ottumwa, Ottumwa
Savings Bank; Quimby, Citizens Savings Bank; Reinbeck,
First Savings Bank; Ren wick, First National Bank; Red Oak,
First National Bank; Rock Rapids, Lyon Co. National Bank;
Renwick, State Bank of Ren wick; Rock Rapids, First Na
tional Bank; Royal, The Home State Bank; Royal, Citizens
National Bank; Rockford, Rockford State Bank; Sutherland,
THE
February, 1916
NORTHWESTERN
25
BANKER
The Macksburg National Bank, Macksburg, iowa
This prosperous institution has recently occupied
a new home in keeping with its growing business
and importance, which is one of the most attractive
banking houses in the state in towns of similar size.
The bank now has a capital and surplus of $35,000.00, with total deposits of $99,985.35, showing a
splendid growth during the past year.
The officers of this progressive institution at the
present time are: Eugene Wilson, president; Martin
Rowe, vice-president; W. W. Walker, cashier. The
directors are : Eugene C. Wilson, Mamie B. Wilson,
First Savings Bank; Sigourney, Citizens Savings Bank; Sunbury, Sunbury Savings Bank; Shelby, Farmers Savings Bank;
Smithland, Smithland Bank; Spirit Lake, Spirit Lake Na
tional Bank; Shelby, Shelby County Savings Bank; Sigour
ney, Keokuk County State Bank; Sidney, Fremont County
Savings Bank; Tabor, State Bank of Tabor; Thornton, Farm
ers Savings Bank; Traer, Farmers Savings Bank; Van Cleve,
Van Cleve Savings Bank; Victor, Victor Savings Bank; Waukon, Waukon State Bank; Wapello, Wapello State Savings
Bank; West Point, Farmers & Citizens State Bank; Waukee,
Bank of Waukee, Waterloo, Security Savings Bank; Winfield,
Farmers National Bank; West Liberty, Iowa State Bank &
Trust Co.; Quasqueton, State Savings Bank.
Nebraska.
Dwight, Dwight State Bank; Giltner, Bank of Bromfield;
Loomis, Farmers State Bank; Gering, Gering National Bank;
Chappell, First National Bank; Crawford, First National
Bank; Fremont, First National Bank; Keystone, Bank of Key
stone; Lushton, Bank of Lushton; Stromsburg, Stromsburg
Bank; Stuart, Citizens Bank of Stuart; Taylor, Bank of Tay
lor; Superior, State Bank of Superior; Arnold, Farmers State
Bank; Coleridge, Coleridge National Bank; Hartington, First
National Bank; Craig, Farmers State Bank; Kerney, Farmers
Bank; Minitare, Minitare Bank; Oakland, Farmers & Mer
chants National; So. Sioux City, Bank of South Sioux City.
Cass Pindell, E. B. Marsh, Martin Rowe, H. J. Mack,
L. H. Hixson.
The Macksburg National Bank is a member of the
federal reserve system, solidly financed and ably
managed in every way. With the additional facili
ties provided by the new building, its future rapid
growth is fully assured.
We shall hope to present a picture of the new
building in an early issue, as it may well be consid
ered a model structure of its kind, and thoroughly
adapted to the needs of the community it so effi
ciently serves.
State Bank; Berlin, Farmers & Merchants State Bank; Stras
burg, German State Bank; Eldridge, Eldridge State Bank;
Alexander, Alexander State Bank; Bismark, First National
Bank; Casselton, First National Bank; Hazelton, Bank of
Hazelton; Leeds, First National Bank; Norma, Norma State
Bank; Williston, First National Bank.
South Dakota.
Sioux Falls, Security National Bank; Marion, Farmers Trust
& Savings Bank; Pierre, National Bank of Commerce; Rapid
City, Pennington Co. Bank; Watertown, Citizens National
Bank; Frankfort, James River Bank; Groton, Brown County
Banking Co.; Colman, First National Bank.
THE MASSENA SAVINGS BANK, MASSENA,
IOWA, HAS DEPOSITS OF $165,000.
The Massena Savings Bank of Massena, Iowa, of
which Geo. Arnold is president; H. I. Johnson, is
vice-president, and Ed Arnold is cashier, has a capital
Minnesota.
Frazee, First National Bank; Fergus Falls, Fergus Falls
National Bank; Newfolden, Farmers State Bank; Red Lake
Falls, Merchants State Bank; Lyle, First National Bank; Lew
isville, Merchants State Bank; Kenneth, Kenneth State Bank;
Ironton, First National Bank; Forada, Farmers State Bank;
Cook, First State Bank; Barrett, Citizens State Bank of Bar
rett; Arlington, First State Bank of Arlington; Aitkin, Aitkin
County State Bank; Menahga, State Bank of Menahga, Middle
River, Security State Bank of Middle River; Meriden, First
State Bank; St. Paul, Peoples Bank of St. Paul; Aitkin, First
National Bank; Almora, Almora State Bank; Anoka, State
Bank of Anoka; Baudette, First State Bank; Beltrami, First
State Bank; Bemidji, First National Bank; Benson, Swift
County Bank; Bixby, State Bank of Bixby; Butterfield, State
Bank of Butterfield; Ely, First State Bank; Fairbault, Citi
zens National Bank; Fergus Falls, First National Bank; Fer
gus Falls, Scandia State Bank; Killiher, First State Bank;
Lake Crystal, Farmers & Merchants State Bank; Lakefield,
Farmers State Bank; LeSueur, First National Bank; Long
Prairie, Peoples National Bank; Montgomery, First State
Bank; Murdock, State Bank of Murdock; New Ulm, Citizens
State Bank; New Ulm, Farmers & Merchants Bank; Ogilvie,
Farmers & Merchants State Bank; Park Rapids, First Na
tional Bank; Pine City, Pine City State Bank; Pine Island,
Citizens State Bank; Rochester, Union National Bank; Rock
Creek, Farmers State Bank; Rothsay, Farmers State Bank;
Sleepy Eye, State Bank of Sleepy Eye; St. Francis, St. Fran
cis State Bank; So. St. Paul, Stock Yards National Bank;
Thief River Falls, First National Bank; Two Harbors, First
State Bank; Two Harbors, Commercial State Bank; Under
wood, First State Bank; Wanamingo, Farmers State Bank;
Watertown, State Bank of Watertown; Watkins, Farmers
State Bank; Willmar, Kandiyohi Co. Bank; Woodlake, Woodlake Bank; Wyoming, First State Bank; Cass Lake, First
National Bank; Lake Benton, National Citizens Bank; Worth
ington, Worthington National Bank.
North Dakota.
Grafton, Scandinavian-American Bank; Golden Valley, First
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Federal Reserve Bank of St. Louis
N ote th e C ondition of
T h is B ank
Capital
Surplus
-
$ 1 0 0 ,0 0 0
$100,000
Deposits
-
-
Undivided Profits
(net)
$15.578
$1,556,500
T his is our evidence of careful, efficient banking:.
N o t too big: to rendér you the m ost satisfactory
personal service. Y our business solicited.
The Northwestern National Bank
J . A. Magoun, Pres.
CIAIIY PITV IÍ1IA/\ M. Lyon, Cashier
B .H.Kingsbury, V.Pres. ' I v I J A '-'1 1 1 , l U l w A C.M.Magoun,Asst.Cash.
26
THE
NORTHWESTERN
of $20,000; surplus of $10,000; deposits of $165,000,
and loans of $154,000.
BEN J. BOWMAN, “THE OUTCAULT MAN.”
Mr. B. J. Bowman, the Iowa representative of the
Outcault Advertising Company, of Chicago, lives in
Des Moines. He is a 32d degree Mason, Shriner and
an Elk.
He is a big, ruddy, wholesome man with a happy dis
position and pleasant manners that make him a weF
come visitor in every bank in Iowa. Mr. Bowman
shakes hands with more bankers than any advertising
BEN J. BOWMAN,
The Outcault Man,
The OutGault Advertising Company, Chicago
man in the state. He makes 600 towns and any other
kind of a burg that has anything that looks like a bank.
Bank advertising has been his study and his work.
A close student of all the methods of bank advertis
ing and his wide experience in this work makes Mr.
Bowman a valuable man, not only to the company he
represents, but to the bankers of Iowa.
. Mr. Bowman now has the new Outcault bank adver
tising service for this year, which includes their Christ
mas Banking Club. The club is operated on a pass
book and card system, with a special plan for getting
a large number of depositors in the club.
PLANNING YOUR BANK BUILDING.
(Continued from page 6.) .
may be situated on the banking floor or, if the bank
occupies a. building, it may be placed on some other
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Federal Reserve Bank of St. Louis
BANKER
February, 1916
floor, entirely removed from the active work of the
bank. In the latter instance it may be used without
the knowledge of the bank force or patrons.
A point to be considered in the furnishing of a bank
room, and one of no mean importance, is the class of
customers to be served. In the fashionable parts of
large cities banks often have luxuriously appointed la
dies’ rooms, while the downtown banks are designed
to produce speed in the completion of all work, both
in dealing with the customers and in keeping the cler
ical work up to date.
The question of cost should ever be kept in mind,
though that need not materially limit the arrangement.
It is more a matter of kind and quality of furnishing,
and this must be determined to the last small fixtures,
to the style of cage locks, to the material of the handles
on the cabinets.
The view of the First National Bank, Rapid City,
South Dakota, shows a banking space barely twentytwo feet wide which has been so efficiently planned and
so artistically developed that no lack is felt in either
appearance or in the actual working convenience,
which fulfills adequately the complicated requirements
of the banking business of today. The officers’ space
is so arranged as to serve the immediate convenience
of the public, and at the same time connects directly
with the tellers and bookkeepers behind the screen.
The basement has been used to advantage by pro
viding for a spacious directors’ room, a storage vault
system, and numerous locker rooms on this floor. This
has enabled the bank to use the second floor for a series
of modern offices, which are reached through a sep
arate entrance and corridor also used as an additional
entrance to the bank’s public space.
The Citizens National Bank of Watertown, S. D., is
also an example of a well designed and constructed
bank building where the space is best arranged for the
benefit of clerks and customers.
In these days of strenuous advertising an impressive
building is at once the best investment and the best
advertisement a bank can have. The investment of
capital in a handsome edifice admirably planned for
the carrying on of its principal business, inspires the
public with a sense of faith and security in the stability
and prosperity of the institution. Increase in confi
dence brings about increase in deposits; thus the mon
ey invested in the new building becomes a satisfactory
paying investment and an asset instead of an expense
and a standing liability.
SMOOTH
CHECK OPERATOR WORKS IN
SIOUX CITY, IOWA.
A very clever check operator has recently been at
work in Sioux City, Iowa. He asked a department
store for one of its proprietors, knew where his office
formerly was, pretended to go to see him on another
floor, bringing back the check for $125.00 with his O.
K. on the back and it was cashed.
It was a counter check of the Mid-West Bank of
Sioux City, of which Ed Kearney is the president. The
Counter Check was cut off, showing as if it was torn
from a check book,' and written with a check writer,
numbered with a numbering machine, maker and
payee s name fictitious, and O. K, of store owner
forged.
He is a young fellow about twenty-five years old,
small black mustache and very bright.
.Mr. Kearney thinks that perhaps a little publicity
might save some other merchant.
February, 1916
27
T W E N T Y -FIR S T YEAR
DES MOINES, IOW A, FEBRUARY, 1916
T O T A L NUMBER 342
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Northwestern National Lite Insurance Co.
MINNEAPOLIS, MINN.
JO H N
A
PURELY
T . B A X T E R , P r e s id e n t
MUTUAL,
11111111111111111
OLD-LINE,
WESTERN
COMPANY
IIIIIIIIIIIIIIIIIIIM
Directors
E.
F.
C.
T.
E.
B.
A.
J.
|\
W. DECKER, Pres. Northwestern National Bank
A. CHAMBERLAIN, Pres. Security N at’l Bank
T. JAFFRAY, Vice-Pres. F irst N at’l Bank
B. JANNEY, Pres. Farm ers & Mechanics Bank
L. CARPENTER, Shevlin-Carpenter Clarke Co.
F. NELSON, Pres. Hennepin Paper Co.
A. CRANE, Vice-Pres. F irst National Bank
A. LATTA, Vice-Pres. N orthwestern N at’l Bank
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“ Hanover
National
Bank
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:
U. S. DEPOSITORY
The National City Bank
OF CHICAGO
OF THE CITY OF NEW YORK
Nassau and Pine Streets
U. S . Depository
Capital
Surplus
W IL L IA M W O O D W A R D ....P re s id e n t
E . H A Y W A R D F E R R Y ...........V .- P r e s .
S A M U E L W O O L V E R T O N .__ V .- P r e s .
E L M E R E . W H I T T A K E R ...... C a s h ie r
C H A S. H , H A M P T O N ____ A s s t. C a sh .
J . N IE M A N N ............................ A s s t. C a sh .
W IL L IA M D O N A L D ............A s s t. C a sh .
G E O R G E E . L E W I S ............A s s t. C a sh .
H E N R Y P . T U R N B U L L ....A ss t. C a sh .
W IL L IA M H . SU Y D A M ........................
..................................M g r. F o r e i g n D e p t.
.
.
.
.
.
.
.
. $ 2,000,000.00
750,000.00
O F F IC E R S
.D a v id R . F o r g a n , P r e s i d e n t
A lf re d L. B a k e r , V ic e - P r e s id e n t
H . E . O tte , V ic e - P r e s id e n t
F . A. C r a n d a ll, V ic e - P r e s id e n t
R o b e r t R . F o r g a n , V ic e - P r e s id e n t
W a lk e r G. M c L a u ry , C a s h ie r
W . T. P e r k in s , A s s t. C a s h ie r
W . D. D ic k e y , A s s t. C a s h ie r
H e n r y M e y e r, A s s t. C a s h ie r
A. W . M o rto n , A s s t. C a s h ie r
W m . N. J a r n a g i n , A s s t. C a s h ie r
R . B. F u e s s le , A s s t. C a s h ie r
L e e A. K in g , A u d ito r
G e o r g e L . W ir e , A t t o r n e y
R. U. L a n s in g , V ic e - P r e s id e n t a n d M a n
a g e r B o n d D e p t.
M. K . B a k e r , A s s t, M a n a g e r B o n d D e n t.
Established 1851
Capital
$3,000,000
Surplus and Profits 15,000,000
Solicits Your Business
Citizens
National
Bank
DES MOINES, IOWA
J. G. ROUNDS . . . . . . .
President
S. A. MERRILL . . . .
Vice-President
GEO. E. P E A R S A L L ......................Cashier
W. W. M A I S H ..................Asst. Cashier
Capital
Surplus
$300,000
100,000
ACCOUNTS SOLICITED
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ESTA BLISH ED 1870
FIRST NATIONAL BANK
SIOUX CITY, IOWA
IN THE UNITED STATES
New Business Invited
on the b a s is of
SATISFACTORY SERVICE
Resources Over $3,000,000.00
FIRSTDAVENPORT,
NATIONAL
BANK
IOWA
L. J. YAGGY, Cashier
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A. F. DAWSON, President
Capital
Surplus
$600,000.00
$ 120,000.00
Our Facilities for Handling Bank Accounts
Are, W e Believe, Unexcelled. W e Solicit
Your Business.
JOHN McHUGH, President
JOHN J. LARGE, Vice-President
F. A. McCORNACK, V ice-President
H. A. GOOCH, V ice-President
L. H. HENRY, Vice-President
J. L. MITCHELL, Vice-President
O. D. PETTIT, Cashier
FRITZ FRITZSON, A sst. Cashier
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THE
28
NORTHWESTERN
February, 1916
BANKER
--------------------------------------------------------------------- !
VALLEY
BANK
DES mÔÏnÊsTIOWA
Second
Capital and Surplus $500 ,000.00
Bank
and
n „„
" VALLEY NATIONAL BANK « i a a a a a a a a
Deposits VALLEY SAVINGS BANK
$ 4 * 0 0 0 , O U U .U U
Dubuque Savings Bank
Dubuque, Iowa
Under Same Management
OFFICERS AND DIRECTORS
R . A. CRAWFORD, President
C. T. COLE, JR ., Vice-President
D. S. C H A M BER LA IN , Vice-President
W. E. BARRETT, Cashier
R eserve Agents for National Banks.
UNITED STATES DEPOSITARY
Combined Capital, Surplus and Profits
Tlios. F. Stevenson, Attorney
W. E. Tone, Treas, Tone Bros. Wholesale Coffees, Teas and Spices
W. C. Harbach, Sec. & Treas. L. Harbach’s Sons Co.
E. W. Stanton, Vice-Pres. Union Nat. Bank, Ames, la.
C. W, Mennlg, Pres. Mennig-Slater Co. Vinegar & Pickle Works
Alfred Hammer, Pres. Alfred Hammer & Co., Druggists
We invite Your Des Moines Account, promising Careful,
Efficient and Satisfactory Service.
National
$600,000.00
O F F IC E R S A N D D IR E C T O R S
J. K. Deming
Herrn Eschen
Jas. M. Burch
Frank Bell
Chas. H. Bradley
Geo. W . Kiesei
J T . C arr
Organized 1876
j . j . Roshek
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S The First National Bank of Waterloo, Iowa j
Solicits your business on the most favorable terms consistent w ith
safe and conservative banking. W e pay interest on bank accounts.
Our Capital—$200,000
Our Surplus and Profits—$275,000
§
OFFICERS.
F. J. EIGHMEY, President
g
§
g
A. M. PLACE, Vice-President
JAS. BLACK, Vice-President
C. A. LARSON, Cashier
=
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F. J. Fowler
C. F. Fowler
J. O. Tmmbnuer
Jas. Black
DIRECTORS.
|
1
=
F. P. HURST, Assistant Cashier
V. J. RECHTFERTIGr, Ass’t Cashier
H. H. CORDES, Assistant Cashier
3
5
H. W. Grout
W. W. Marsh
J. T. Sullivan
T. W. Place
|
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=
=
J. W. Rath
A. M. Place
F. J. Elghmey
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CENTRAL TRUST COMPANY
OF ILLINOIS
CHICAGO
Capital, Surplus and Profits, $ 5 ,0 0 0 ,0 0 0
Deposits
3 5 ,0 0 0 ,0 0 0
Accounts of banks and bankers received upon favorable terms
Thoroughly equipped to handle all business pertaining to banking, and invites the ac
counts of banks, corporations, firms and individuals.
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Federal Reserve Bank of St. Louis
February, 1916
THE
NORTHWESTERN
ORSON SMITH RETIRED FEBRUARY 1st AS
PRESIDENT OF THE MERCHANTS LOAN
AND TRUST CO. OF CHICAGO.
Orson Smith, president of the Merchants Loan and
Trust Company, Chicago, retired from active charge
of the bank on February 1st and was succeeded by
BANKER
29
Joseph Hirsch, vice-president Corpus Christi Nation
al Bank, Corpus Christi, Texas.
George T. Wells, chief clerk, Denver National Bank,
Denver, Colo.
J. R. Wheeler, cashier Farmers and Merchants Union
Bank, Columbus, Wis.
R. I. Woodside, president Farmers and Merchants
Bank, Greenville, S. C.
Wm. H. High, assistant cashier Anglo and LondonParis National Bank, San Francisco, Cal.
THE COMMERCIAL SAVINGS BANK, FARRAGUT, IOWA, INCREASES SURPLUS
TO $3,000.
At the regular quarterly meeting of the directors of
the Commercial Savings Bank of Farragut, Iowa, they
declared the regular dividend and carried $300.00 to
the surplus, making the surplus fund $3,000.00. This
has all been done in four years, as there was no sur
plus when F. E. Rubey, cashier, and E. H. Mitchell,
president, purchased the bank four years ago.
The capital stock has been increased to $20,000 and
the volume of business has more than doubled. The
total assets have increased from $45,000 four years ago
to $100,000 at the present time.
ORSON SMITH,
Chairman of Board,
Merchants Loan & Trust Co., Chicago
Edmund D. Hulbert, first vice-president. Mr. Smith
will retain his financial connection with the bank and
will become chairman of the board of directors.
Mr. Smith came to the Merchants Loan and Trust
Company about thirty years ago. At that time he was
cashier of the Corn Exchange National Bank. He
has had a broad banking experience and his conserv
atism and ability have placed the Merchants Loan
and Trust Company among the leading financial insti
tutions of the city.
Mr. Hulbert has been a Chicago banker since 1895,
when he came from Winona, Minn., to become second
vice-president of the Merchants Loan and Trust Com
pany. Three years later, when J. W. Doane retired
from the presidency, he succeeded Mr. Smith as first
vice-president and became a member of the board of
directors.
E. D. HULBERT,
President,
Merchants Loan & Trust Co., Chicago
A. B. A. AGRICULTURAL COMMISSION.
At the Seattle convention of the American Bankers
Association the agricultural commission was by unani
mous vote continued for another year. The adminis DUBUQUE NATIONAL BANK, DUBUQUE,
trative committee of the association has just acted on
IOWA, SHOWS STEADY IMPROVEMENT.
the personnel of the commission for 1916, and the fol
The Dubuque National Bank, Dubuque, Iowa, shows
lowing appointments are unanimous :
B.
F. Harris, president First National Bank, Chamcontinued improvement and growth under the efficient
management of Jos. W. Meyer, cashier.
paign, 111., chairman.
E.
J. Curtin, president Citizens Savings Bank, De The capital stock is $100,000 and the surplus stock
paid in is $20,000.
corah, Iowa.
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Federal Reserve Bank of St. Louis
30
THE
NORTH.W E S T E R N
BANKER
February, 1916
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Federal Reserve Bank of St. Louis
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counting department.
February, 1916
THE
NORTHWESTERN
BANKER
31
My Views on Thin Skinned People
By E. R. Gurney
Every paragraph of this article is> filled with human
interest. It tells of the bankers’ experience withr custom
ers, bank directors and competitors— perhaps you have had
some of these same experiences yourself. Mr. E. R. Gur
ney, who is vice-president of the First National Bank of
Fremont, Nebraska, delivered this article as an address
before the Des Moines Bankers’ Club.
bankers that our acts are
In speaking of thinsubject to observation all
skinned people, I do not
the time. Our clerks are
refer to any of you. Perour critits. Our fellow
adventure, there may be
officers at the adjoining
one or two, mere boys,
desk are thinking. Our
present, on whose epider
mis the rose-bloom of youth still lingers, or whose finance committees, our boards of directors, our stock
cheeks have not yet acquired the consistency of a side holders, our neighbors, our public, not to mention our
of sole leather—to them and to myself do I address my competitors, are watching and we shall be most miser
remarks. And if any shots, arrowed or otherwise, hit able indeed if we are so thin-skinned that criticisms,
any of the rest of you, it will be as innocent bystanders real or imaginary, sear our souls.
I would not, indeed, take the position that we must
that you are touched.
For myself, I have always been a bit peculiar, Sen not give heed and weight to outside opinion. It is
sitiveness rather than Sense being a primary charac often valuable, in fact, it is necessary. But we must
teristic. We have in our greenhouse out home a little not be so highly sensitized that we give undue weight
plant with spreading branches, whose tender leaves to this criticism—or in fear, be veered from a well
will bashfully close if they are so much as touched by studied course simply to avoid these gibes, many of
one’s finger, and.it is only after some minutes of hiding them unfounded.
Sometimes I think about my friend, Henry. Henry
that they, will shyly peep forth again. We call it the
“Sensitive plant,” and I need hardly add that it is not was elected cashier of a Farmers Bank. A Farmers
a great success, either as a bloomer or as a producer of Bank is one of those institutions where everyone in
the community, and his brother-in-law, and the neigh
timber.
So in my youth, I was a sort of sensitiye plant, being bors own two shares apiece. It’s just like an annual
rather delicately attuned. I was tuned up variously. school meeting when they come together in fraternal
Father could always strike the Lev note—he had conflict. If I were President of the United States now
(which the Lord forbid) and I
sundry and divers ways of get
ting the pitch, and I loathed
could find the country banker
who can please all the stock
“ It was said in the long ago that ‘No man
them all. But none, of his ways
can live unto himself alone.’ If this was true
holders of such an institution I
hurt so much as a scolding from
when the world was young, it is more true
would
send him as minister to
mother.
now when in this great world of commerce and
Mexico or, better, send him on
I said a moment ago, that I
finance we are ever touching elbows with one
another,— indeed, we must look sharp not to
am peculiar in this—on second
the Oscar II to get the warring
tread on each other’s toes, and we are under
thought, I recant, and fling it
pacifists pacified and the com
inspection all the time. I think it peculiarly
in your faces that you are just
batants out of the trenches betrue of bankers that our acts are subject to
as peculiar as I am. We are
for the seventeenth of March.
observation all the time. Our clerks are our
critics. Our fellow officers at the adjoining desk
big, strong, broad-shouldered
Well, Henry took hold, as cash
are thinking. Our finance committees,— our
men. In many ways we have
ier, and the very first week,
boards of directors,— our stockholders,— our
real courage—we can be pumwhile all the combatants were
neighbors,— our public, not to mention our com
meled by a pugilist, beaten by
waiting with bated breath, and
petitors, are watching and we shall be most
miserable indeed if we are so thin-skinned that
Hank was on probation, just as
a blacksmith, operated, ampu
criticisms, real or imaginary, sear our souls.”
tated, yes, salivated with no
though he were joining the
outward show of grief, but give
Methodist church, a fellow
us one little scolding, one dash
came in and borrowed $500 on
of ridicule, one shot of scorn, one bit of derision, and some cattle. He was one of those honest looking
we cave! You don’t have to put a man in jail to punish farmers—one of those fellows with an open face—and
him, all you have to do is to make fun of him. I, am Hank made the loan. I did not see the mortgage, but
reminded of Uncle Remus and Brer Fox. “Did he kill it should have been written on asbestos. It should
him, Uncle Remus?” said the little boy. “Worser’n have described those cattle in color as a sky-blue, in
visible pink—and it should surely have included the
dat, chile, he jes’ tuck and made a fool outer him.”
Nevertheless, there are some heroes—maybe some increase, for only in them was there hope that the
here. They are the men that are really great in that redeemer of that debt liveth. To use a joke at the
they have, clothed themselves in the armor of simplicity expense of sdme very dear friends of mine, I will say
reinforced in the weaving of truth—against which no that they were a regular Christian Science bunch of
attacks of scorn or shots of sarcasm can ever prevail— cattle—in which mind superseded matter.
You may already have guessed the awful truth.
and of them I would speak. I do not sing the praises
Hank found it out also, not quite so quickly as you of
of the thin of skin.
It was said in the long ago that “No man can live more experience, but he was stung, he was horned
unto himself alone.” If this was true when the world properly. What did Hank do? What would you do?
was young, it is more true now when in this great What would I do? I don’t know. I fear the worst—
world of commerce and finance we are ever touching that fearing that bunch of inquisitors L would mort
elbows with one another—indeed, we must look sharp gage my insurance policies, and raise funds, and quietly
not to tread on each other’s toes. And we are under buy up that paper, “just for investment, you know.”
inspection all the time. I think , it peculiarly true of Let me say here that the banker who does this, who
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
32
THE
NORTHWESTERN
BANKER
February, 1916
THE BANK OF NORTH AMERICA
NATIONAL BANK
PHILADELPHIA, PENNSYLVANIA
The Oldest Bank in th e United States, C hartered, 1781
Banks and bankers in all parts of the country will find the service rendered by this
old established bank efficient and satisfactory in every respect
Capital, $1,000,000.00
Surplus and Undivided Profits, $2,400,000.00
H A R R Y G. MICHENER, Pres.
CHARLES H. H A R D IN G , V ice-Pres.
WILLIAM J. MURPHY, A ss’t Cash.
RIC H A RD S. McKINLEY, A ss’t Cash.
goes down into his pocket and pays for a bad loan is
several bad things, the least bad being a fool. He may
take the flattering unction to his soul that in thus
standing the loss he is brave and benignant—the real
truth is that he is a coward and he is dishonest, he isn’t
toting fair with his associates, he is deceiving them,
and no banker who does a thing of this kind is demon
strating a fitness for his continuance in office.
What did Henry do? He called to his assistant cash
ier to take charge of the works, told him if he made
any loans on horses to go out and feel of them, we don’t
want any more nightmares on our hands, hollered the
sad news to his directors, grabbed his grip and was off.
Day and night he followed the trail of that crook, out
across Nebraska, into the heart of Colorado, but finally,
about ten days later, he came leading that sorry indi
Investing in B ra in stu ff and How
to Get Y o u r Tim e's-W ^orth
T h e a m o u n t o f money y o u s p e n d f o r r a i s i n g y o u r b r a i n
p o w e r is a trifle c o m p a r e d w i t h t h e v a l u e o f t h e time
t h a t y o u p u t i n t o y o u r i n v e s tm e n t o f s e lf - e d u c a t i o n .
A School t h a t w ill s te a l a th o u s a n d d o lla rs ’ w o rth of
y o u r p r e c io u s time i n o r d e r to g e t a l i t t l e o f y o u r m o n e y
— g i v i n g y o u n e i t h e r y o u r t i m e ’s w o r t h n o r y o u r m o n e y ’s
w o r t h , d o e s y o u in c a l c u l a b l e h a r m .
T h e W A L T O N S c h o o l o f C o m m e rc e is a r e s i d e n t sc h o o l
w h ic h f its i t s s t u d e n t s f o r t a k i n g C. P . A. E x a m in a ti o n s ,
o r f o r r a i s i n g t h e m s e lv e s f r o m t h e le v e l o f b o o k k e e p e r s
to t h e h i g h e r o fficial p o s i t i o n s in b a n k o r b u s in e s s .
A nd b y e x te n d in g its in s tr u c tio n to o u t-o f-to w n s t u
d e n ts , g i v i n g th e m t h e s a m e i n s t r u c t i o n b y m a il, i t
s im p ly e x t e n d s i t s z o n e o f u s e f u ln e s s .
W e h a v e n o t e x t b o o k s o r o t h e r p a r a p h e r n a l i a t o s e ll to
s t u d e n t s i n A c c o u n ta n c y ; a n d o u r o n ly r e m u n e r a t i o n is
w h a t w e g e t f r o m s e r v ic e a c t u a l l y r e n d e r e d .
T h e W A L T O N A d v a n c e d C o u r s e s in A c c o u n ta n c y a r e
t h e u p - t o - t h e - m i n u t e e m b o d im e n t o f m o d e r n p r a c t i c e , in
lo o s e -le a f fo rm ; a n d a r e in s tr o n g c o n tr a s t w ith th e o u to f - d a t e i n s t r u c t i o n g iv e n b y m o s t t e x t - b o o k s c h o o ls o n
t h e s u b j e c t o f A c c o u n ta n c y .
H o w to i n v e s t y o u r T IM E is e v e n m o r e i m p o r t a n t t h a n
h o w to i n v e s t y o u r m o n e y , b e c a u s e t i m e l o s t is l o s t f o r
e v e r ; w h i l e m o n e y lo s s e s m a y b e re c o u p e d .
Sendfor our Book “the W ALTON Way to Higher Pay.”
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W a l t o n S shgol
Co m m e r c e
512-522 P e o p le s G a s B ld g ., CHICAGO
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Deposits, $13,000,000.00
SAM UEL D. JO R D A N , Cashier
CHAS. M. PRINCE, A ss’t Cash.
vidual with the open face, back by the ear. And the
relatives dug up the funds, paid Henry dollar for dollar,
including the cost of a summer tour of Colorado with
full Pullman accommodations. And Henry has a stand
in with his bunch now, and his position is secure. I
think he can get anything in the world he may ask of
that board of directors, excepting, of course, a raise of
salary, which is prohibited by the Constitution.
And now I want to speak, by way of contrast, of an
other banker out our way, one who now has a perma
nent position with the government in one of its institu
tions at Fort Leavenworth. This man, it is said, made
a bad loan. Impossible—you say? Perhaps it would
be impossible to so err in Iowa, without any mulct law.
We in Nebraska, if we do much business, make mis
takes with regularity and precision and we get to say
ing with the poet,
“Count that day lost
Whose low descending sun
Sees no bad break from
You son of a gun.”
I have some stock in a bank up in our state and about
twice a year the cashier, Bill, comes down or writes,
giving the results of the period, saying: “I would have
done fairly well only I had to charge off such and such
amounts for bad loans. It beats the world what a
d----- fool I am by spells.” But Bill pays 15 to 26 per
cent dividends, every half year, so I am content.
Then I know of another old fellow who never made
a mistake in his life—but I did, when I got the stock in
his bank, as it hasn’t paid a dividend in three years.
Why, men, it is upon mistakes surmounted that we
build our characters. It is the errors that teach us how
to excel. It is upon blunders that we build. It is
through suffering that we evolve into power—just as
in fire is the dross of the metal burned away! I
wouldn’t have a cashier of impeccable perfection, who
never made a mistake, for I would always feel that he
has a trimming coming to him. We of the other kind
can at least hope in an immunity through vaccination.
Well, my friend made a bad loan, and he lied about it.
Then he loaned some more to try to get back the first
and he lost that—and lied about it. A lie is the dirtiest,
meanest, stickiest, greasiest influence that ever oozed
out of hell to trouble the men of earth, and it is the
lubricant of most of the toboggans that chute men back
to its early haunts. Each lie is a breeder of more—so
this man told more and finally got to manufacturing
(Continued on page 84.)
February, 1916
THE
NORTHWESTERN
BANKER
Figures That Prove
Prosperity, Growth and
Service to Customers
T
HE Iowa National Bank of Davenport has shown a steady in
crease during the past five years, and is now in better posi
tion than at any previous time to render efficient service to
customers.
N ote the following interesting figures showing the growth
in deposits:
January 1, 1 9 1 0 ................................... ....... $ 1 ,8 3 2 ,0 0 0 .0 8
January 1, 1 9 1 5 ......... ............. .................. v 2 ,3 9 4 ,4 4 8 .9 5
January 2 7 , 1 9 1 6 .............................................. 2 ,8 6 4 ,8 2 5 .8 1
February 1, 1916 ...........................
2 ,8 7 8 ,5 5 6 .5 8
Undivided Profit A ccount
January 1, 1 9 1 0 ........................ ......................... $
January 1, 1 9 1 5 ..................................................
January 2 7 ,1 9 1 6 ........................................
February 1, 1 9 1 6 ...........
1 0 ,8 0 4 .5 2
9 7 ,1 5 8 .8 8
1 0 7 ,4 3 0 .7 4
1 1 0 ,1 7 8 .1 8
C. SHULER, President
W . H. GEH R M A N N, Vice-Prest.
P. T. W ALSH, V ice-Prest.
FRANK B. YETTER, Cashier
LOUIS G. BEIN, Asst. Cashier
The Iowa National Bank
Capital $150,000.00
Surplus $150,000.00
D A V E N P O R T , IO W A
W e in vite the business of banks and bankers desir
ing prompt, efficient and satisfactory service.
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Federal Reserve Bank of St. Louis
34
THE
NORTHWESTERN
BANKER
February, 1916
GRANT McPHERRIN BECOMES VICE-PRESI
DENT OF THE CENTRAL STATE
BANK, DES MOINES.
Grant McPherrin was elected vice-president of the
Central State Bank, Des Moines, Iowa, to fill the va-
THE STATE SAVINGS BANK, GOODELL,
IOWA, TO ERECT A NEW BUILDING.
At the annual meeting of the State Savings Bank
of Goodell, Iowa, it was decided to build a new modern
bank building during the year of 1916.
GRANT McPHERRIN,
Vice-President
Central State Bank, Des Moines
J. B. McDOUGAL
Cashier,
Central State Bank, Des Moines
cancy caused by the death of the late J. D. Whisenand. Mr. McPherrin has been the cashier.
John B. McDougal, former assistant cashier, has
been elected cashier, succeeding Mr. McPherrin.
Frank C. Ash has become the note .teller and W. P.
Phillips has been advanced to the position of paying
teller.
The officers of the bank now are as follows: Simon
Casady, president; Grant McPherrin, vice-president;
H. B. Hedge, vice-president, and J. B. McDougal,
cashier.
All the old officers and directors were re-elected and
after declaring the usual dividend, the balance of the
year’s earnings were carried to the surplus account.
This makes the surplus and undivided profits $11,700.
The capital is $10,000.00.
JAS. P. M ARTIN, Vice-President
F. E. GILL, Vice-President
The following officers were elected at the annual
meeting of the Cushing Savings Bank, Cushing, Iowa :
C. J. Wohlenberg, president; J. H. Kurtz, vice-presi
dent; C. E. Hass, cashier; A. J. Bertelsen, assistant
cashier.
T . F. H A R R IN G TO N , President
W . G. DUNKLE, Cashier
R. NASH, Ass’t Cashier
C O N T IN E N T A L N A T IO N A L B A N K
SIOUX CITY, IOWA
Capital $100,000.00
S u rp lu s $10,000.00
W e k n ow that our ex p erien ce, k n o w led g e, a b ility , sy stem ,
organization, m odern m eth ods and e n e rg y w o u ld w o rk great
ly to you r b en efit if you g iv e u s the opportunity to se r v e you.
DIRECTORS
T . F. H A R R IN G T O N
J. P. MULHALL
JAMES P. M A RTIN
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Federal Reserve Bank of St. Louis
M. KASS
F. E. GILL
A. J. MORE
m . F. McD o w e l l
C. F. GREEN
W . G. DUNKLE
THE
February, 1916
NORTHWESTERN
35
BANKER
1896
1916
T W E N T IE T H A N N U A L S T A T E M E N T
Central Lite Assurance Society
OF THE UNITED STATES
HOME OFFICE DES MOINES, IOW A
GEORGE B. PEAK, President
WM. L. SHEPARD, Vice-President
GEO. H. CARR, General Counsel
H. G. EVERETT, Secretary
DR. T. C. DENNY,
HOMER A. MILLER, Treasurer
O. C. MILLER, Ass’t Secretary
DR. D. W. SMOUSE, Chief Med. Dir.
Medical Director
The Central Life of Des Moines shows a record of progress for the first twenty years equalled by only a few
companies in the United States. It is recognized in all parts of the country as a leader. Its policies are clear and
liberal, with every feature guaranteed. Agents are enthusiastic and policyholders are satisfied. It will be observed
that with each five years since the organization of the company it's business has more than doubled. The prospect
at the present time is very bright for the company, and the Central Life will soon be a member of the One Hundred
Million class.
The public will be interested in the Annual Statement of the Central Life, for it combines the essential elements
of success.
Ledger assets January 1, 1915..................... $3,388,063.71
INCOME DURING 1915
Premium incom e..................... $1,237,002.66
Interest and other income....... 255,438.08 1,492,440.74
Amount ..............................
$4,880,504.45
DISBURSEMENTS DURING 1915
Death claims and matured en
dowments .............................$ 179,147.14
Dividends, surrender values
and payments on installment
policies .................................. 106,222.57
33,292.66
Taxes and fees.........................
Commission and agency ex
penses ......................... I ........ 317,410.77
79,966.53
Salaries of officers and clerks.
Medical examinations and in
45,914.04
spection of risks....................
Advertising, printing and post
23,743.58
age ........................................
78,900.44
All other disbursements...........
Total disbursem ents.........
Balance
Total net admitted assets...................... $4,053,284.34
L IA B ILIT IE S
Net present value of all policies in force ac
cording to the Actuaries’ Table of Mortal
ity, with 4 per cent and American 3 ^
per cent, interest......................................... $3,328,499.85
All other liabilities, including supplemen
tary contracts ............................................. 105,403.92
Surplus ........................................................... 619,380.57
Total .........................................................$4,053,284.34
864,597.73
$4,015,906.72
LEDGER ASSETS
Mortgage loans on real estate.$2,987,337.40
Policy loans ............................... 572,864.52
Cash in banks and offices.......
83,193.40
Bonds owned ...........................
63,240.62
Agents’ balances and premium
notes ........................................ 119,423.94
Real estate ................................. 189,846.84
$4,015,906.72
ALL OTHER ASSETS
Interest and rent, due and accrued ..................................... $
Due and deferred premiums,
net ..........................................
Furniture and fixtures....... .
Total gross assets.....................................$4,185,603.61
132,319.27
Less items not admitted................................
New business ............................................... $11,563,184.00
Increase .................................................
625,982.00
Insurance in force......................................... 41,714,829.50
Increase ................................................. 4,855,431.00
Total income ................................................. 1,492,440.74
Increase ................
172,766.64
Reserve value ofpolicies............................... 3,328,499.85
Increase .................................
553,404.09
Admitted assets
4,053,284.34
Increase . ..
627,939.89
Surplus __
619,380.57
Increase
53,359.72
PROGRESS IN TWENTY YEARS
YEAR
74,221.69
90,475.20
5,000.00
$ 169,696.89
1896...........
1901...........
1906_____
1911_____
1915_____
ADMITTED ASSETS
2,972.00
102,687.00
661,430.00
1,952,407.45
4 ,0 5 3 ,2 8 4 .3 4
INSURANCE IN FORCE
256,000.00
2,363,054.00
10,576,111.00
2 0 ,5 6 5 ,5 9 7 .5 0
4 1 ,7 1 4 ,8 2 9 .5 0
Agents desiring the greatest success should secure a contract with the Central Life now
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Federal Reserve Bank of St. Louis
N
orthwestern
B anker
T H E O L D E ST FIN A N C IA L JO U R N A L W EST OF T H E M IS S IS S IP P I R IV E R AN D T H E ONLY O N E IN T H E U N IT E D STA TES
W H IC H IS A M E M B E R OF T H E A U D IT BU REA U OF C IR C U L A T IO N S
M INNEAPOLIS
Published Monthly by
Clifford De Puy
Hennepin A venue and Fifth Street
T H E N O R T H W E ST E R N BANKER
Publisher
CHICAGO
PUBLISHING COMPANY
122 South Michigan Boulevard
709-710 Crocker Building
N E W YORK
DES MOINES
::
IOW A
225 Fifth Avenue
$2.00 per year, 20c
copy. Entered as second-class m atter at the D es M oines post office to conform to the postal
law s; everything else pertaining to the journal being strictly F IR S T class
I
FEBRUARY, 1916
J
PREPAREDNESS—FOR WHAT?
«L Preparedness for war means a big army, a big navy, and a big deposit in the United
States Treasury. At the present time this is the only variety of preparedness, in which the
President and Congressmen are very much interested, but why limit this discussion of pre
paredness to war, why not make it include business, banking and ourselves? In business the
man who is prepared with sufficient resources and a keen judgment can grasp an opportunity
whenever it is presented to him. Preparedness in banking means conservative investments,
careful loans and a large surplus of community good will. Preparedness for the battle of life
means a strong body and a keen mind, backed with 42 centimeter ideas and a large reserve
force of energy and enthusiasm. The battle of life commenced before the Kaiser or the Czar
ever saw a battle field and will continue to the end of time. It is, therefore, an ever-present
struggle. Being prepared for everyday battles is as important to the individual, as for the
nation to be prepared for international conflicts. Our thrift campaigns are being under
taken with the hope of preparing individuals against want and misery later on. Our colleges
and universities are preparedness stations for young men and young women in coping with
the problems of the world. Our churches are preparedness institutions for the life that is
beyond. So we may say, Preparedness—For What? For war, if necessary—yes, but more
so for the big, complex everyday problems of our modern lives. Be prepared.
I
THRIFT DAY
d. February 3d was observed this year as National Thrift Day. Just why this day and
date were chosen does not make any particular difference, although many bankers believe
that we should have a Thrift week instead of a Thrift day. As a matter of fact every day
should be Thrift day and if February 3d each year is used merely as a starting point for renewed
energy and interest in this important individual and national problem, the time and money
spent in calling attention to February 3d as Thrift Day will be well invested. Possibly
of all the ideas for concerted thrift on the part of individuals that have been developed, that
of Thrift Day will be the most popular. As one says: “ It not only serves to guide the thoughts
of the individual to frugality, but its proper celebration can only be accomplished in one way
and that is action. We have Arbor Day, Flag Day, and a number of others commemorating
things dear to the hearts of Americans that are observed in various sections of the country.
Thrift Day is not only National in purpose, but it is the only day the celebration of which means
actual, tangible material benefit to every individual co-operating.” Bankers can render
no greater service to their community, as well as to themselves, than by co-operating in every
possible way to make individual thrift a reality.
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Federal Reserve Bank of St. Louis
JOINING THE SYSTEM
€L A number of our most prominent bankers have expressed the opinion that before the
Federal Reserve System can be a complete and lasting success, State Banks must join. It
is our belief, however, that State Banks will not join the present system until there are more
advantages held out than now. In fact, many of the National Banks are objecting strenuously
to the Comptroller’s constant requests for detailed information and pages of seemingly un
necessary statistics about what they have been doing and why they did it. We recently
received a communication from a State Bank asking us what were the necessary requirements
in case they should wish to join the Federal Reserve System. In reply to our communication
the Vice-President of the Bank said: “I have your kind favor of the 25th, in regard to a
State Bank joining the Federal Reserve System. I wish to thank you for the clear and full
explanation which you gave me. Some of our friend bankers had advised us to join the
system, but it did not look clear to us that we should do so under the present regulations,
and in fact I believe that there will be some radical changes in this system, at least there will
have to be before we would ever think of joining it.” It is our opinion that many changes
will be made in the present system and no doubt some of these will be presented at the present
session of Congress. The Federal Reserve Plan has undoubtedly come to stay as a part of
our financial system, but with the proper kind of changes and modifications its usefulness
can be greatly increased and when that time does come we believe that State Banks will
consider more seriously than they do now the advantages of joining.
!
PROSPERITY DAY
CL February is becoming a popular month for the celebration of special events. In addi
tion to containing the birthdays of two prominent Americans—Lincoln and Washington—the
country also celebrated this year February 3d as Thrift Day and will celebrate February 29th
as Prosperity Day. Prosperity Day, in the United States, should not necessarily mean a
day set aside for gloating over the wealth which as a nation we already possess, but a day
on which we can give due thanks for the material blessings which we possess. Of course,
there are some who are saying that the United States is at the high tide of prosperity just
now, but, when the war is over, what then? In this connection it is interesting to note what
one of the large financial institutions of the East expressed in a recent letter. “Not a few
corporations are now more nearly out of debt than ever before in their entire history, and
others are quite without unpaid obligations. Still others are heaping up cash in their treas
uries, with some of them using this cash to purchase great stocks of raw material or to erect
additions to their plants. Occasionally you find a corporation, like one of the most widely
advertised manufacturers of munitions, which is buying municipal bonds with the big supply
of cash which war orders have brought, and which the necessities of its own business do not
demand. In the light of all these facts one is not so apprehensive over the possibility of a
sudden termination of the war as one might have been a considerable period back.” We
are on a sound financial basis as a nation and Prosperity Day should celebrate this fact. Let
us hope that February 29th will be but the beginning of a Prosperity Year whose horizon will
not be darkened with war and that we may write, think and talk Prosperity until it reaches
every corner of the country and brings happiness and contentment to all the land.
I
1
■
For $2.00 is all that is required to se
cure the monthly visits of the Northwestern Banker for an entire
year. Each issue contains from 56 to 64 pages of mighty inter»
esting m atter pertaining to banks and banking interests in
the territory covered by the magazine.
“ OCR CORRESPONDENTS” E v e r y b a n k in the
Northwest is invited to a place on this list. Send us
item s of local interest, tell us about your bank and its
growth, prospects, etc.,also any other financial news of
interest to bankers in your section. We are always
glad to hear from our friends.
‘‘SIGHT DRAFTS” We always carry a large “ Re
serve” of good will and additional service, and will
promptly honor drafts made upon same by any bank.
This department is for your special benefit. I t may
be made of very great benefit to your bank. Do not
fail to avail yourself of its privileges.
“ A CLEARING HOUSE’’ Our columns are a clear
ing house for all our readers. Express your views on any
“ A CASHIER’S CHECK”
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Federal Reserve Bank of St. Louis
topic of interest to the banking fraternity and submit same for publi
cation. You do not have to agree with us, or with anyone else.
We learn things by an interchange of ideas, and people with whom
we disagree often prove valuable teachers. We shall be glad
to hear from you.
“NO PROTEST” Has ever been offered to the state
ment th at 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 of prosperous banks, all doing a good business,
and the majority of them are readers of “The North
western.”
“ SURPLUS AND UNDIVIDED PROFITS” Increase
very rapidly with those banks, whose advertisements
appear regularly in the columns of 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 years in its present field.
THE
38
NORTHWESTERN
BANKER
February, 1916
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Charles M. Schwab, president of the Bethlehem Steel
Company; Daniel C. Jackling, of San Francisco, presi
dent of the Utah Copper Company, and Frank A.
Sayles, textile manufacturer and president of the Slater
Trust Company of Pawtucket, R. I., were added to the
board of directors of the Chase National Bank. James
J. Hill, of the Great Northern Railway, resigned and
his place was given to his son, James N. Hill. The
board of the Chase National has been temporarily in
creased from eight to eleven. Later in the year it is ex
pected that Francis L. Hine, George F. Baker, Jr., and
John J. Mitchell, the latter of Chicago, will resign and
that the board will consist again of only eight members.
$------ .-$----— $
Gates W. McGarrah, of the Mechanics & Metals Na
tional Bank of New York, in a recent communication
said: “A tone of optimism predominates the views
expressed by business men regarding the outlook for
the year 1916. Barring unforeseen circumstances, ac
tivity is expected to continue, without, however, the
violent readjustments that were seen in 1915. Stock
speculation, which at times last year threatened to ex
tend to unreasonable proportions, is now less pro
nounced. It is our belief that the banks of the United
States, large and small together, have exercised com
mendable restraint in the extension of credits. In New
York City, a substantial share of the loan expansion has
found its source in the credits negotiated by foreign
nations; another share has been due to increased ac
tivity in security-market operations.”
year it has been up-hill work to earn more than the
regular dividend. On the whole, the result of the year
has been quite satisfactory, the. earnings approximating
18.86 per cent.”
$ i $
—
$
Frank E. Andruss, cashier of the Atlantic National
Bank of New York, in a recent communication stated
that they have had an excellent increase in deposits,
which exceed last year’s report by over 62 per cent.
The bank is planning to largely increase their banking
rooms and when the plans are completed the bank will
occupy the entire Broadway front of the Home Life
Insurance Company’s building. Mr. Andruss finishes
his letter by saying, “I take great pleasure in reading
The Northwestern Banker.”
, I
$ - ----- $ - ----- $
E. G. Elliott, cashier of the Farmers & Merchants
State Bank of Verdón, S. D., gave expression to the
following remarks, when he enclosed his check for
renewal of his subscription to The Northwestern
Banker: “You get out a dandy banking paper and we
do not want to miss one single issue.”
$ - ------$---------$
P. W. Hall, secretary of the Iowa Bankers Associa
tion, has one of the most unique collections of buffaloes
—not live ones, but small models. His “herd” ranges
in size from one inch high to one foot. He says that it
is comparatively easy to get a model Of an elephant,
dog-or any other animal, but that buffaloes are very
scarce. This is just a side line with “P. W.,” who has
$------- $ ---------$
been collecting these miniature buffaloes for many
J. H. Ingwersen, president of the Peoples Trust & years.
Savings Bank of Clinton, Iowa, in his annual stock
$--------$---------$
holders’ report made the following statement: “The
Bankers are warned to be on the lookout for a $50
year 1915 has been on the whole an uneventful one. “split” bill, the face of which is genuine, but the back of
The continuance of the European war and the inflow of which is patched up with notes of smaller denomina
gold from foreign countries has materially increased tion. The other half of the.bill or the back of it, which
ease in money matters during the greater portion of was also patched on the other side with $5 and $10 bills
the year, and considerable difficulty has been experi was cashed by a Des Moines merchant and when de
enced by the banks in keeping their funds employed at posited at the bank was discovered and reported to the
remunerative rates. The first six months of the year Iowa Bankers Association and it is requested that
were quite profitable, but during the second half of the bankers keep an eye out for this $50 bill.
Fort Dearborn National Bank
CHICAGO, ILLINOIS
C A PIT A L $2,000,000
SURPLUS A N D PROFITS $1,000,000
Comparative Showing; of Deposits
$ 9 ,8 87,954.84
F e b r u a r y 14, 1908.
F e b r u a r y 5, 1 9 0 9 ..
15 0 4 1 357 21
M a rc h 29, 1 9 1 0 . . . .
M a rc h 7, 1911.........
2L 574Í956Í79
F e b r u a r y 20, 1912.
'30,’499!714!20.
F e b r u a r y 4, 1 9 1 3 ..
J a n u a r y 13, 1 9 1 4 ..
M a rc h 4, 1915.........
2 9,844,165.94
N o v e m b e r 10, 1915
32,117 ,9 8 6 .7 0
D e c e m b e r 31, 1915
34,166,055.02
United States Depositary
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
D EPO SITS $34Í000,000
WM. A. TILDEN, P resident
NELSON N. LAMPERT, Vice -P res .
CHAS. FERNALD, Ass ’t Cashier
J -FLETCHER FARRELL, Vice -P bbs.
HENRY R. KENT, Vice -P bbs .
WM. W. LE GROS, Ass ’t Cashier
JOHN FLETCHER, Vice -P res .
MARCUS JACOBOWSKY, Vice -P res .
W M L . McKEE, Ass ’t Ci s Eier
GEORGE H. WILSON, Cashier
H. LAWTON, M gr. F oreign .1D ept .
CHARLES L.’BOYE, Ass ’t Cashier
R. J . McKAY; Ass ’t Cashier
W e particularly desire the accounts of banks. O ur officer in charge is personally acquainted w ith conditions
in your section. W e know your wants and w ish to serve you.
February, 1916
THE
NORTHWESTERN
E. T. Meredith, publisher of Successful Farming, Des
Moines, Iowa, has been re-elected as a director of the
Federal Reserve Bank of Chicago for another term of
three years. When the directors first were chosen a
year ago they were elected on an equal basis and were
to have drawn lots to determine which one would hold
office for one year, which for two and which for three
years. Mr. Meredith at that time chose the one year
term because the other directors were closer to the
bank and more conveniently situated for the perform
ance of their duties as directors.
$---------$---------$
Oscar L. Gubelman, of Knauth, Nachod & Kuhne, of
New York, has recently been elected director in the
Washington Railway & Electric Company, the Poto
mac Electric Power Company, the City & Suburban
Railway of Washington and the Georgetown & Tenallytown Railway Company.
$--- — $--------$
Gustav Stueben, cashier of the Scott County Savings
Bank, Davenport, Iowa, was elected president of the
Davenport Clearing House Association at the annual
meeting of the organization. Otto Hill, cashier of the
Davenport Savings Bank, was elected secretary and
manager and will handle the routine matters coming
before the association. Frank B. Yetter, cashier of the
Iowa National Bank, was elected vice-president.
$--------- $-------- $
J. H. Hass, president of the Scott County Savings
Bank, Davenport, Iowa, one of the organizers and
members of the original board of directors of the Iowa
National Bank, resigned as a director of the bank, as
the first example of the local application of the new
39
BANKER
Guaranty Service
XVII
Incom e Tax Inform ation
Since the Income Tax Law was
passed in 1913, there have been issued
a number of rulings by the Internal
Revenue Department at Washington
covering various features of the Law.
We have made a summary of such
of these rulings as affect individuals,
and have found it very useful in
assisting our customers in the prepar
ation of their schedules, the filling out
of blanks, etc.
It has occurred to us that the sum
mary would be of equal service to
other banking institutions, and there
fore we shall be pleased to send copies
upon request.
Ask for Booklet R-149
Guaranty Trust Company
of New York
Capital and Surplus Resources, over
-
JAS. H. JAMISON
President
-
$ 40,000,000
300,000,000
A. D. STRUTHERS
Secretary and Treasurer
son
O F D E S M O I N E S , IOWA.
During 1915 the Western
Life Insurance Company of Des
Moines wrote over T w o Million
Dollars of Life Insurance in the
State of Iowa.
Every Policy is protected by
a deposit of the full legal Re
serve with the State. T h e Iowa
people who take life insurance
with the Western Life assist in
building up Iowa business.
Every dollar of Western Life
securities is on Iowa property.
Every Western Life Agent is
responsible and reliable. None
but those who can show clear
records and thorough knowledge
of life insurance are allowed to
represent the Company.
W e are co-operating with
many Iowa Banks to our mutual
advantage. W hen you see or
hear “Western Life” you may be
certain it is good, none bet
ter, and always the best.
The Western Life Insurance Co.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HOME OFFICE
DES M OINES, IO W A
THE
40
NORTHWESTERN
CORN EXCHANGE
NATIONAL BANK
OF CHICAGO
C a p it a l........................ $ 3,000,000
S u r p lu s ........................
5,000,000
U ndivided P rofits . .
1,500,000
D e p o s i t s .................... 60,000,000
February, 1916
BANKER
Clayton law, which prevents inter-locking directorates.
Dr. Geo. E. Decker has been elected to fill the vacancy.
$------- $----- —$
Guaranty Trust Company of New York, according to
their last statement, have total resources of $505,736,104.18. This represents a gain of $236,000,000 in one
year. The deposits increased in the same period from
$211,000,000 to $418,000,000, a gain of $207,000,000 in
the twelve months. These are the highest figures ever
reported by the Guaranty Trust Company, and inci
dentally, have never been exceeded by those of any
trust company in the world.
$-------- $------— $
C. E. French, formerly cashier of the Federal Re
serve Bank of St. Louis, was elected a vice-president
of the St. Louis Union Bank. Mr. French’s banking
experience dates from 1887, when he entered the serv
ice of the National Bank of Rolla, Mo. In 1906 he
resigned his position as cashier of that bank to become
a national bank examiner. In 1907 he was elected ex
aminer of the St. Louis Clearing, House Association,
which position he resigned in 1914 to become the first
cashier of the Federal Reserve Bank of St. Louis. He
resigned as chief national bank examiner for Federal
Reserve District Number Eight to accept the position
of active vice-president of the St. Louis Union Bank.
$--------- $--------- $
Secretary Fenton of the Investment Bankers Associ
ation of America has issued the Fourth Annual Pro
ceedings of the Association. In comparing the volume
with previous years one cannot but admire the advance
and improvements. The book is bound in three-quar
ters leather, on antique paper, with photogravure pic
tures of all officers. Altogether it is one of the most
handsome volumes issued by any association. Aside
from the value of the book as one of art and beauty, it
is of value to all investment bankers and students of
finance. It contains the addresses delivered before the
Denver convention, reports of committees, and list of
members.
$
ERNEST A. HAMIIjL, President
CHARLES L. HUTCHINSON, Vice-President
CHAUNCEY J. RLAIR, Vice-President
D. A. MOULTON, Vice-President
B. C. SAMMONS, Vice-President
FRANK W. SMITH, Secretary
J. EDWARD MAASS, Cashier
JAMES 6 . WAKEFIELD, Assistant Cashier
LEWIS E. GARY, Assistant Cashier
EDWARD F. SCHOENECK, Assistant Cashier
DIRECTORS
CHARLES H. WACKER
MARTIN A. RYERSON
CHAUNCEY J. BLAIR
EDWARD B. BUTLER
CHARLES H. HULBURD
BENJAMIN CARPENTER
CLYDE M. CARR
WATSON F. BLAIR
EDWIN G. FOREMAN
CHARLES L. HUTCHINSON
EDWARD A. SHEDD
ERNEST A. HAMILL
Foreign Exchange
Letters of Credit
Cable Transfers
Our facilities for handling the accounts of North
western Bankers are unexcelled.
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Federal Reserve Bank of St. Louis
$
$
K. G. Lancolet, agent for the Iowa state board of
parole, says, “Business conditions are better at the
present time in Iowa than they have been in any year
in the last ten years, in the month of January. Some
of this business revival may be due to the war, although
I know of only one direct war order being filled in
Iowa. The Hart-Parr plant at Charles City has a con
tract for shrapnel. The plant is running three shifts of
men on an eight-hour basis. However, many Iowa
plants have subcontracts for war materials. The Keo
kuk plant is making shoes for the allies. One Cedar
Rapids firm is making raincoats for the soldiers. There
are scores of grain and provision contracts being filled
in the state. In January it is not uncommon for many
factories to be idle or working only part time and with
reduced forces.”
$
$ ■ $
Bankers Life Company of Des Moines in their state
ment which was issued recently show prosperity by a
gain of nearly $3,000,000 in the admitted assets of the
company, making a total nearly $28,000,000; by a rec
ord of over $32,000,000 of insurance written, making a
total of nearly $400,000,000 in force, and by an increase
of over $2,500,000 in the amount of securities on de
posit with the state of Iowa for the protection of its
policyholders, the total of such securities now being
nearly $26,000,000. Prosperity of a nation-wide char-
"Making Good”
The crowning glory of man’s achievement
comes in perfecting some service that is of real
As a banker you are a business
benefit to his fellow men.
counselor to the people of your
community.
For fifteen years we have been sole owners of
Should a merchant customer of
yours come to you wanting to
the Brenard Manufacturing Company.
know what he could do to raise
a lot of ready cash quck to meet
During these fifteen years, we have been de
some obligation, what would you
suggest to him?
vising business-building plans for retail mer
We recommend that you sug
gest the Brenard Trade Extension
chants, ever striving to make them more simple
Campaign to him.
In one day Geo. Gaber’s cash
in their operation and more positive in their result
receipts were $3,308.49.
J. A. Halberg took in $2,347.82
getting qualities.
cash in one day.
A. M. Foster’s cash receipts
And after these fifteen years of striving, there
were $2,021.00 in one day.
The Farmers’ Co-operative
comes to us that satisfaction of having perfected
Store took in $2,002.00 cash in
one day.
a business-building, profit-getting plan that is of
Now we are explaining this
system to you that you may be in
real service to merchants.
a position to intelligently suggest
to some of your merchant cus
This plan as we have it perfected today will in
tomers a way to raise ready cash
when circumstances demand it.
crease a merchant’s business from 20% to 75%.
It will raise him a lot of ready cash.!
It will get him the business he is losing to his competitor across the street.
It will stop people from patronizing mail order houses, soap clubs, etc.
It will collect 100% on his outstanding accounts without giving offence to
his customers.
It will get him a lot of new customers who will stay by him.
If any of your customers are interested in getting a lot of new customers who
will stay by them after the campaign is over—
If they are interested in getting a lot of ready cash quick—
If they are interested in disposing of their odds and ends and slow sellers at
full retail price—
If they would like to know how to collect their outstanding accounts—
Write us today asking us for a full and complete explanation of our plan.
This will place you under no obligation to us; it may mean that you will have
found just the very business-increasing, profit-getting plan you would want to
advise your customers to use.
As a Banker
BRENARD MANUFACTURING CO
IOWA CITY, IOWA
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
42
THE
NORTHWESTERN
ATLANTIC
BANKER
NATIONAL
OF THE CITY OF NEW YORK
February, 1916
BANK
ORGANIZED 1829
M e r c h a n t s E x c h a n g e N a t i o n a l Bank
Capital Stock................................................................ $ 1,000,000.00
Surplus and Undivided Profits..................................
7 5 0 ,0 0 0 . 0 0
OFFICERS
P H IN E A S O. L O U N S B U R Y ,
P re sid en t
E D W A R D K . O H E R R IL L ,
V ice-P resident
E D W A R D V. G A M B IE R ,
V ice-P resident
FR A N K E. A N D RU SS,
C ashier
H E R M A N D. K O U N T Z E ,
V ice-P resident
G IL B E R T H . JO H N S O N ,
V ice-P resident
K IM B A L L C. A T W O O D .
V ice-P resident
W IL L IA M F . F IT Z S IM M O N S ,
A ssistan t C ashier
We S olicit D eposit A ccounts fro m B an k s, B a n k e rs, T ru s t C om panies, C o rp o ratio n s, F irm s a n d In d iv id u als
acter is shown in the new business growth of the
company for the year. Excellent business was written
in every one of the thirty states in which the company
does business. These states range from the Gulf of
Mexico to the Canadian line and from the Atlantic
seaboard to the Golden Gate. Iowa’s share of the total
business written was nearly $5,000,000.
$--------$--------$_
The Investment Bankers Association of America has
issued a Bulletin embodying the decision of the United
States District Court holding the Michigan Blue Sky
Law unconstitutional. The Michigan legislature in
1913 placed upon the statute books a blue sky law
regulating the sale of investment securities. This law
was held unconstitutional in 1914 and at the 1915 ses
A ttractive F ixtu res are a
BANK’S B e st ASSET
Then W h y N o t Get “Ehrlich” Fix
tures and Increase Your Business?
If You so Desire W e W ill Help You
Design Them. W rite Us Today.
H. EHRLICH & SONS MFG. CO.
ST. JOSEPH, MO.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
sion of the legislature another regulatory measure was
passed. The 1915 law was tested and reviewed by the
same judges holding the 1913 law invalid. There is no
question but that this latest decision sounds the deathknell of all measures to regulate interstate transactions
in investment securities. Five federal courts have re
viewed as many blue sky laws and all have declared
such laws inoperative.
$--------$--------$
The First National Bank of St. Paul has added to
its official staff Mr. Gorge H. Wickman as assistant
cashier and Mr. George P. Flannery, president of the
Northwestern Trust Company, as a new director of the
institution.
$-------------- $-$
C. B. Mills, vice-president of the Scandinavian-American National Bank, Minneapolis, Minn., in a recent
communication said, “Santa Claus was rather good to
us, and we closed the year with a net profit of about
$50,000 to cover the period, October, November and
December. Our deposits grew during 1915 from $6,100,000 to $11,125,000.” Congratulations on this ex
cellent growth.
$-------------- $--$
Clayton Law—Spokane bankers are not agreed over
the interpretation of the Clayton law in its application
to the interlocking directorates of banking institutions.
Two radically different interpretations have been ad
vanced, and an opinion from the treasury department
at Washington, D. C., will be secured to settle the dis
pute. Edwin T. Coman, president of the Exchange
National Bank, reads the law to mean that no officer,
director or employee of a national bank with $5,000,000
total resources can serve in any other bank, national or
state. Mr. Coman is not only strong in that conviction
but he is acting upon it in refusing to accept a director
ship in the Bank of Colville, a state institution, in which
he recently purchased an interest. J. C. Cunningham,
vice-president and general manager, and W. J. Kommers, vice-president of the Union Trust & Savings
Bank, have secured legal opinions on the new law, and
declare there is nothing in it to prevent an officer or
director of a national bank from serving on the board
of a state bank, no matter whether the resources are
over or under the $5,000,000 mark.
$---------$---------$
E. J. Curtin, of Decorah, Iowa, has been elected a
member of the agricultural commission of the Amer
ican Bankers Association, for the year 1916. The
THE
February, 1916
NORTHWESTERN
OFFICERS
F. H. DAVIS__________________ .President
C. T. KODNTZE______________________
Vice-Pres. and Chairman of the Board
L. L. KOUNTZE________ .Vice-President
T. Ii. DAVIS_____________________ Cashier
IRVING ALLISON________Asst. Cashier
G. T. ZIMMERMAN...............Asst. Cashier
O. T. EASTMAN....________Asst. Cashier
MYLES STANDISH_______Asst. Cashier
J. H. BEXTEN.......................................Auditor
Surplus, Earned, $ 1 ,0 0 0 ,0 0 0 .0 0
First National
iBank ol Omaha
THE DIRECT SERVICE BANK
KOUNTZE BROTHERS
$---------$------ - $
At the annual meeting of the stockholders of the
First National Bank, Fort Dodge, Iowa, the following
officers were elected: E. H. Rich, president; O. M.
Oleson, vice-president; Geo. L. Rich, cashier; Chas.
D. Case, assistant cashier and secretary of board, and
J. Floyd Rich, assistant cashier. At present the capi
tal and surplus of the combined First National and
Fort Dodge Savings Bank amounts to over $650,000
and the deposits are more than three million dollars.
J. M. Mulroney retired after forty-two years of serv
ice as a director in the Merchants National and First
National Banks. His son, Joe R. Mulroney, was
elected a director in his place.
Value of Training in the American Institute of Bank
ing is again demonstrated by the election of Irwin L.
Bourgeois as assistant cashier of the Hibernia Bank &
Trust Company of New Orleans, La. Starting as a
messenger in 1903, Mr. Bourgeois worked in the vari
ous departments of the bank until 1912, when he re
ceived the appointmnt as chief clerk, in which capacity
he has since acted until his recent election as assistant
cashier. Mr. Bourgeois has been active in the work
of the New Orleans chapter of the American Institute □ of Banking and in 1912 served as its president. At the
national convention of the Institute held in Salt Lake
City, 1912, he was elected national treasurer of the
Institute and his attendance at all of the recent con
ventions of that body as a delegate from New Orleans
Chapter has made him well known to bankers in all
parts of the United States.
$---------$---------$
The State Convention at Waterloo, Iowa, this year
will be a big success judging from the plans, already
made by Waterloo bankers, for the entertainment of
delegates and guests. Secretary P. W. Hall is also
endeavoring to secure men of national prominence for
the program. It is expected that Job. E. Hedges, a
prominent attorney of New York City, will be one of
the speakers. Mr. Hall had hoped Dr. Vincent would
also be on the program, but he has had to refuse because
of a previous engagement. It may be possible that
J. N. Ding, Iowa’s famous cartoonist, will make some
sketches and that Louis Lau, better known as the
“Mayor of Burlington,” will give one of his highly in
teresting and humorous addresses.
$---------$---------$
A. I. Boreman, advertising manager Merchants Trade
Journal, says, “I must congratulate you on your splen
did January issue. It sure is a dandy. I don’t see how
the keen, wide-awake banker can get away from the
headings of those articles. They touch about every
phase of a banker’s problems.”
The annual meetings of the directors of the three
Rockwell City, Iowa, banks were held recently. The
year just closed was the best in the history^ of the
financial institutions in that city. The deposits have
reached the million-dollar mark.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
43
Capital $ 5 0 0 ,0 0 0 .0 0
O r g a n iz e d in 1857 a s
other members are: Joseph Hirsch, Corpus Christi,
Tex.; George T. Wells, Denver, Colo.; J. R. Wells,
Columbus, W is.; R. I. Woodside, Greenville, S. D.;
William H. High, San Francisco, Cal.
BANKER
=
n
JESSE E. COLE COMPANY
C E R T IF IE D P U B L IC A C C O U N T A N T S
AUDITS, SPECIAL INVESTIGATIONS AND
FINANCIALREPORTS MADE FOR BANKS,
INDIVIDUALS AND CORPORATIONS
S u it e 412 S e c u r i t i e s B u ild in g
DES MOINES, IOW A
n
3
THE SECURITY TRUST
AND SAVINGS BANK
FORT DODGE, IOWA
T he Most Rapidly G row ing Banking
Institution in N orthw estern Iowa.
COLLECTION S receive personal attention of an officer of
this bank.
GAPITAL $75,000.00
E. G. LARSON, Pres.
W . F. CARVER, V.-Pres.
BEN P. LARSON, Cashier
G. P. ALLARD, Asst. Cashier
THE
44
NORTHWESTERN
BANKER
February, 1916
$
$
Do You HOPE For Prosperity— p
Or Do You WORK For It*
WE OFFER YOU REAL SERVICE
A Service That Will Appeal
to Every Bank Anxious to
Promote the Prosperity of its
Community—and Incidentally
its Own.
$
YOU ARE IN T H A T CLASS
WRITE US FOR PARTICULARS
(IT ’S N E W )
THE LIVE STOCK
NATIIOMJU
BANK
OF CHICAGO
$
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
$
s
February, 1916
THE
NORTHWESTERN
45
BANKER
“C hecks are
m o n ey ”
S at e t y
\ /
On Guard!
Checks are money—and should be closely
guarded.
A bank, desiring to give its customers the
greatest possible protection, will furnish
them with checks on paper that exposes im
mediately any alteration of amount, payee,
date or endorsement.
That paper is National Safety Paper, the
logical check-paper for all banks.
Ask your printer, stationer or litho
grapher for checks on National Safety Paper,
or write us for samples.
George La Monte & Son
Founded 1871
35 Nassau Street
N e w Y ork
FRANK B. YETTER,
Cashier Iowa National Bank, Davenport,
Vice-President of the Davenport Clear
ing House Association and promi
nently mentioned as a candidate
for a member of the Execu
tive Council of the
American Bankers
Association.
JOHN BEILSTEIN PROMOTED TO CASHIER
OF THE CITIZENS SAVINGS BANK,
WILLIAMSBURG, IOWA.
An important change was made in the Citizens Sav
ings Bank of Williamsburg, Iowa, when C. A. Mains
resigned his position as cashier and John Beilstein was
chosen as his successor. Harry Nicholas was promoted
to the position of assistant cashier, which position Mr.
Beilstein vacated to become the cashier.
Mr. Beilstein is a native of Pilot township and has
been assistant cashier for the past two years.
Mr. Mains still holds his interest in the bank and
is on the board of directors, but he found it impossible
to devote all his time to the affairs of the bank, so his
resignation was planned several months ago.
TWO CHANGES MADE IN DIRECTORY
BOARDS OF THE NATIONAL BANKS,
DES MOINES.
Only two changes were made in the directory boards
of the four national banks of Des Moines at their an
nual meetings. Both were due to resignations. All
officers were re-elected.
L.
Sheuerman, a director of the Des Moines
National Bank, who recently retired, was succeeded on
the board by his son, S. L. Sheuerman.
The Citizens National Bank increased the directory
board from eleven to twelve directors. Leon Strauss
and D. W. Smouse were elected directors and S. .A.
Merrill resigned.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
^'1 —
1':*.3
fTiflirmit
-Ì it.
Pmm=mTTT:W'1TpT7ï'
Every Room
in the new
FORT DEARBORN HOTEL
CHICAGO
is now
$ 1 5 2 Pe»ray
-NO HIGHER
w ith private bath or private toilet
FORT DEARBORN HOTEL
L a S a lle S tr e e t a t V a n B u r e n
Direction of Hotel Sherman Company
46
THE
NORTHWESTERN
BANKER
February, 1916
THE SAN DIEGO SAVINGS BANK
DESIGNED AND EXECUTED BY THE
WEARY AND ALFORD COMPANY
1907 Michigan Boulevard, Chicago
BANK BUILDINGS AND EQUIPMENT
THE CITIZENS STATE BANK, MEDIAPOLIS,
IOWA, CELEBRATES THE TWENTIETH
YEAR OF ITS FOUNDING.
The Citizens State Bank, Mediapolis, Iowa, of which
M. U. Bridwell is the president and E. R. Nordstrom
is the cashier, has just celebrated the twentieth anni
versary of the founding of the bank.
The bank commenced business with a capital of
$25,000, which was increased in 1900 to $50,000 and
again in 1910 to $100,000. The surplus and profits
now amount to more than $80,000.
This institution has a record of unbroken success
behind it—conservative, careful business management
H. N . H O L D SW O R T H
CERTIFIED PUBLIC
ACCOUNTANT
Johnson C ounty Bank Building
IO W A C ITY , IO W A
Business and Financial Statements
Prepared for Bank Loans
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
that has built up the bank to its present high position
in this financial field.
The deposits of the Citizens State Bank amount to
$660,794,47, making total resources of $831,516.02.
J. M. DINWIDDIE ELECTED PRESIDENT OF
CEDAR RAPIDS SAVINGS BANK, IOWA.
J. M. Dinwiddie, who has served the Cedar Rapids
Savings Bank of Cedar Rapids, Iowa, for so long and
faithfully as cashier, has been elected president of that
institution. Under Mr. Dinwiddie’s management the
capital of the bank has been increased from $50,000 to
$200,000, besides a surplus fund of $100,000. The bank
now occupies and owns its building, which was built
at a cost of over $300,000.
John T. Hamilton, who has been president, retires
to become chairman of the board of directors and to
devote more of his time to the Merchants National
Bank, of which he is president.
W. J. Elliott, who has been assistant cashier for the
past eight years, succeeds Mr. Dinwiddie as cashier.
Louis Derr has been elected to the position of as
sistant cashier in the Hedrick Bank, Hedrick, Iowa.
The annual stockholders’ meeting of the Clear Lake
State Bank, Clear Lake, Iowa, was held recently and
resulted in the re-election of all the present directors.
The officers elected are as follows: A. B. Phillips,
president; Chris Axelsen, vice-president; A. T. Swen
son, cashier, and M. C. Suhumskie, assistant cashier.
Februaiy, 1916
THE
NORTHWESTERN
47
BANKER
HERMAN D. KOUNTZE ELECTED PRESI
DENT ATLANTIC NATIONAL, NEW YORK.
At the annual meeting of the stockholders of the
Atlantic National Bank of the City of New York,
Phineas C. Lounsbury, for thirty years president of
the institution, was elected chairman of the board of
directors and Herman D. Kountze was elected presi
dent. Mr. Kountze has been actively engaged in the
management of the Atlantic National Bank from the
FLEXIBILITY
This word applied to Elliott-Fisher Bank
Bookkeeping Machine means just this:
A Standardized Bank Machine to do the
several kinds of accounting work of the
various departments of Banks.
Here is just some of the work it does
HERMAN D. KOUNTZE,
President,
Atlantic National Bank, New York
time Kountze Brothers became interested in it, prior
to which he had been in charge of the Commercial
Banking Department of Kountze Brothers. Mr.
Kountze began his banking experience in the First
National Bank of Omaha, which is the oldest of the
banks controlled by the Kountze interests, and of
which institution his father, Herman Kountze, was
for many years the president.
The Atlantic National has made wonderful growth
in the last few years. On November 10, 1910, under
the name of the Merchants Exchange National Bank,
deposits amounted to $8,220,000. At the call of the
Comptroller November 10, 1915, deposits aggregated
$13,329,000, an increase of $5,109,000, or 62.1 per cent.
The officers of this strong institution are: Herman
D. Kountze, president; Edward K. Cherrill, Kimball
C. Atwood, Gilbert H. Johnson and Edward V. Gambier, vice-presidents; Frank B. Andruss, cashier, and
William F. Fitzsimmons, assistant cashier.
The Blair National Bank, Blair, Neb., has changed
to a state bank under the name of the State Bank of
Blair. The capital remains the same, $50,000, and the
officers are likewise the'same, C. A. Schmit being presi
dent, T. E. Stevens, vice-president, and Thomas Finnell, cashier.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Posts Customers Ledger, makes Dehit
and Credit Journal and if wanted, writes
customer s statement all at one operation
— writes Transit and Remittance letters
— writes names, addresses, lists of any
description wanted in ledgers or on loose
or correspondence sheets— Liability led
ger kept— advices written and incoming
mail proven at same time— Note Teller s,
Discount Clerk s and other records writ
ten — checks and register, drafts and
register written at one operation— keeps
Trust ledgers, savings ledgers, any kind
of ledgers— stock records written. This
and much more can be done on one
Elliott-Fisher Bank Bookkeeping Machine
all because of the Flat Platen. This i s :
Service Factor No. 4
The service of such an all-around machine
to any bank needs no further argument.
W rite to d a y a n d ask how Service
F actor No. 4 w ill fit in to y o u r bank.
We w ill te ll y o u m ore a b o u t F lex ib ility.
ELLIOTT-FISHER COMPANY
225 Cameron Street
HARRISBURG, PA., U. S. A.
O ffic e s in a l l p r in c ip a l c i t i e s
48
THE
NORTHWESTERN
BANKER
February, 1916
A History of the Ideal Cashier
Chapter No. 10.
By S. L. Frazier
Chapter No. 1 of this series commenced with the May,
The ideal cashier will
some, healthy deals for his
1915, issue of The Northwestern Banker and while each
remember that it is the
bank
and retain the friend
chapter will be complete in itself, it will pay you to refer
part of wisdom to “keep
ship, good will and busi
to the previous issues in order to see how our “ideal”
cool” under all circum
young banker received his start in life.
ness of the customer.
stances.
The ideal cashier will
Every time he loses his head he loses out. To keep manifest a lively interest in all matters that make for
cool, under fire, is to be a good soldier. To be “heady” the good of his town and community.
in an emergency is to win. The fellow who refuses to
He will identify himself with every laudable under
get excited when everybody is “up in the air” pulls taking and attach his autograph, to every subscription
off the winning stunt.
paper placed before him and covering every conceiv
Being level, running true, when the other fellow is able proposition, from promoting a horserace to pay
“wobbling and zig-zagging” all over the track, will ing the minister’s salary.
land you out in front.
He will always do as he agrees and see that the other
A steady hand, a courageous heart and a fine temper fellow does the same. He will make his customers
will oftentimes “pull” the chestnuts out of the fire on feel that he is interested in them; that he is not simply
the last lap, with your competitor in the “ditch.”
after their money, but is there to help them as well.
Playing an “up-hill” game—coming from behind— He will live the “simple life,” earn more than he
being at one’s best in a “crisis,” has won many a pen spends, get the saving habit, preach “thrift” and “prac
nant in baseball and in business. The ideal cashier does tice” it and in all ways strive to merit the confidence
not know there is any such word as “FAIL.” He must of those whose money he undertakes to safeguard.
have a “faith” in his ability to “do business” that is In short, he will “Be a man among men,” teaching
sublime. If he is “yellow”—if the “spineless cactus” and exemplifying the practical things in a man’s life—
sort—if a “shrimp” who “wilts” when it is hot and the business side of one’s nature, whicli is as import
“curls up” when it is cold—if he has no back bone, no ant as the aesthetic, the social, the professional, the
real stamina—if not a “captain courageous,” he will physical, moral and spiritual sides. There is no big
never get beyond the point of mediocrity. His case is ger, better business than “Earning a Living,” and
hopeless—he is lost and should get busy and try to making ready for that rainy day. To me there is no
find himself. Be careful about missing your “calling.” more pitiful tragedy than a dear old, old couple, who in
Remember the poor “simp” who had a “call” to “P-C.” their last tottering days must needs struggle, dig,
He figured on it awhile and concluded it meant “Preach “nig,” “scrimp,” scratch, scrape, toil on and on, and on,
Christ,” but discovered, when it was too late, that it to the bitter end, in order to keep soul and body to
really meant “Plow Corn.” Many a cashier should be gether. It is a part of our cashier’s duty to teach the
“plowing corn.”
young (especially) to save; to get the “habit,” to be
To be a highly successful cashier one must be per “businesslike,” to be “practical,” that they may be
sistent, but not obstinate; frank, but not so very frank “financially fortified” as against that “pitiful tragedy”
as to be insulting; pleasant, but not “mushy;” en —that they may grow old gracefully, serenely and hap
thusiastic, but not a fanatic; a stickler for system and pily, with “prosperity” dancing attendance. The earn
up-to-dateness, but not a “crank” ; a money maker, ing habit, the saving habit, the investment habit, solves
but not a “money grabber.”
the problem.
He will make good deals with no apologies to offer.
(To be continued.)
A well-known banker once remarked that the “Ideal
Cashier” is the fellow who can take all a man has and
The Blockton Bank, Blockton, Iowa, has installed
leave him feeling badly because he has nothing more a new Ely-Norris double compound door, Manganese
to give. Of course, the idea he meant to convey was steel, burglar-proof safe of the latest and most im
that the good cashier is the one who can make whole proved type.
This is to remind you that the
Leavitt & Johnson National Bank
and
Farmers Loan and Trust Company
of Waterloo, Iowa, are now well established in their new home and are better
prepared than ever to do a general banking business and to make and sell first
mortgage loans and other high grade investments.
We solicit your business.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
February, 1916
THE
NORTHWESTERN
49
BANKER
HENRY B. HOUSE,
Assistant Cashier
First National Bank, St. Paul
The First National Bank of Frazee, Minn., moved
into their new offices recently. The First National
people are justly proud of their elegant new quarters.
CARL J. SCHMIDLAPP,
Vice-President,
Chase National Bank, New York
THE PIONEER OLD LINE MUTUAL LIFE COMPANY
Born W est of the M ississip pi R iver
The Pathfinder to W estern Insurance Stability
ROYAL UNION MUTUAL
LIFE INSURANCE COMPANY
D e s M o in e s , I o w a
OFFICERS
FRA NK D. JACKSON, President
SIDNEY A. FOSTER, Vice-Pres. and Sec’y.
N. M. HUBBARD 2d Vice-Pres. and General Counsel
CARL B. PRAY, T reasurer
JAMES T A G G A R T PRIESTLEY, M. D. Med. Dir.
30th Annual (Condensed) Statem ent Ending D ecem ber 31,1915
Income 1915
L e d g e r A s s e ts J a n u a r y 1, 1 9 1 5 ..
$5,072,285.41
P r e m iu m s ...............
$1,448,358.88
I n t e r e s t , e t c ......................................
311,071.52
Total Income ..............................
1,758,430.40
Total ................................................
$6,831,715.81
Disbursements 1915
D e a t h L o s s e s ....................................... $ 292,398.65
M a t u r e d E n d o w m e n ts .....................
7,250.00
D iv id e n d s t o P o l i c y h o l d e r s . . . . . .
168,465.48
S u r r e n d e r V a lu e s ..............................
137,180.72
Total to Policyholders............$ 605,294.85
P a i d f o r C la im s o n S u p p le m e n ta l
C o n t r a c t s n o t in v o l v i n g L if e
C o n tin g e n c ie s ...................................
3,560.00
S t a t e P e e s a n d T a x e s .......................
26,848.69
C o m m is s io n s to A g e n t s a n d A ll
346,160.02
A g e n c y E x p e n s e s ..........................
79,607.20
S a la r ie s b f O fficers a n d C l e r k s . . .
M a n a g e r ia l a n d L e g a l E x p e n s e s
4,615.56
33,452.53
M e d ic a l F e e s a n d I n s p e c t i o n s . . .
P r i n t i n g , S t a tio n e r y , A d v e r tis in g ,
P o s ta g e , T e le g r a p h , T e le p h o n e ,
19,729.04
E x p r e s s a n d E x c h a n g e ..............
R e n t H o m e Office a n d B r a n c h
12,110.44
O ffices ................ ................. ................
20,559.18
A ll O th e r D i s b u r s e m e n t s ................
$1,151,937.51
Total Disbursements ..............
$5,679,778.30
Ledger Assets December 31, 1915
G a in i n In c o m e , f o r 191 5 ......................................
T o ta l A d m itte d A s s e ts D e c e m b e r 31, 1915.
G a in i n A d m itte d A s s e t s .......................................
T o ta l S u rp lu s , A s s ig n e d a n d U n a s s i g n e d .
T o ta l L o a n s ; .....................................................................
A v e r a g e I n t e r e s t a n d P r o f i t s E a r n e d ...................
Assets December 31, 1915
135,953.81
5,939,516.37
680,779.73
681,266.53
5,475,227.58
6.22%
R e a l E s t a t e ............................................$
89,619.72
F i r s t M o r tg a g e L o a n s ........ 4,001,185.00
L o a n s o n P o lic ie s a n d P r e m iu m
N o te s — N e t ....................................
1,474,042.58
C a s h in Office a n d B a n k s ...............
101,426.05
D u e a n d D e f e r r e d P r e m iu m s —•
N e t ...........................
59,703.62
I n t e r e s t D u e a n d A c c r u e d ..............
213,539.40 ________ _
$5,939,516.37
Total Admitted A ssets............
Liabilities December 31, 1915
R e s e r v e o n a l l P o lic ie s ( m e a n
b a s is ) ....................
$5,060,783.00
D e a t h C la im s N o t C o m p le te ..........
25,476.87
S u p p le m e n ta l C o n t r a c t s ( n o t d u e ) 124,647.00
A c c r u e d T a x e s a n d M e d ic a l F e e s
29,157.00
P r e m iu m s P a i d i n A d v a n c e .........
11,967.81
A ll O th e r L i a b i l i t y .................
6J218.16
S u r p lu s t o P o lic y h o ld e r s A p p o r
tio n e d a n d U n a p p o r t i o n e d ..........
681,266.53
Total ..............................................
$5,939,516.37
INSURANCE ACCOUNT
I n F o r c e J a n . 1, 1915 (22,457 P o lic ie s ) , A m t. $34,945,696.00
I s s u e d a n d R e s t o r e d i n 1915 (5,437 P o lic ie s ) ,
_
A m o u n t ...............................................................
*8.795,468.00
T o ta l I n s u r a n c e in F o r c e D e c e m b e r 3 1 s t............$39,407,150.00
T o ta l 27,894 P o lic ie s , A m o u n t ....................... 43,741,164.00
G a in i n I n s u r a n c e i n F o rc e , f o r 191 5 ..............
4,461,454.00
T e r m i n a t e d i n 1915— 2,507 P o lic ie s , A m o u n t . . 4,334,014.00
S e c u r i t ie s o n D e p o s it D e c e m b e r 31, 1915, w i t h
T o ta l I n s u r a n c e in F o r c e D e c e m b e r 3 1 . . . 39,407,150.00
t h e S t a t e to P r o t e c t P o l i c y h o l d e r s ................... 5,388,769.12
G a in i n I n s u r a n c e i n F o r c e ................... 4,461,454.00
G a in i n D e p o s it f o r 191 5 ......................... ; ..................
498,026.68
• P a i d f o r b u s in e s s .
T o ta l In c o m e , f o r 1 9 1 5 ............................................... 1,759,430.40
Paid P olicyholders Over :,482,000--Present Assets to Credit P olicyholders, $5,939,516
SUMMARY OF YEAR'S BUSINESS
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Federal Reserve Bank of St. Louis
50
THE
NORTHWESTERN
BANKER
February, 1916
How Bankers Are A dvertising
Theoretically every ad
adult in the town and sur
This department contains ideas from different bankers tell
vertisement should be a
rounding country. We
ing of methods they have employed in advertising to se
matter of news, according
will say that this list al
cure new depositors and to increase their business. Use
the ideas and plans that appeal to you and also write and
to F. W. Ellsworth, man
together comprises 4,000
tell us what you have been doing along this line.
ager department of public
names, 1,500 of them al
ity and new business,
ready customers of the
Guaranty Trust Company of New York. By the same bank. This leaves 2,500 to work on. The bank’s net
token an advertisement which follows the style of a earnings last year were 20 per cent of the capital, or
news item can more successfully compete with the $10,000, and it is decided that for the first year the ad
news columns. The heading or catch line of an ad vertising expenditure will be limited to $500. The card
vertisement should be such as will attract the attention record which has been compiled was taken from the
of the reader and excite his interest, and this catch line city directory and from the telephone directory, from
should be set in a good display face. The body of the the directories of the local churches, from the roster of
advertisement should be set in ordinary newspaper local clubs, lodges and other organizations. The cards
type and the name of the company advertising should printed and ruled cost approximately $10 and the com
appear at the bottom as a sort of signature. The entire pilation was made at odd times. It is decided to reach
advertisement in order to be attractive and symmet the 2,500 prospects either by personal letters, circular
rical, should appear in the center of the space with an letters, or some form of printed matter at least three
ample margin of white space on all sides as a definite times during the year. The postage on this will cost
frame. This frame separates it from adjoining adver $150, assuming that two-cent stamps are used, while
tising or reading matter and causes the advertisement the cost of the literature can be kept easily within $50.
This leaves us with $300 for our newspaper advertising.
to stand out prominently as it should.
Each of the newspapers charges twenty-five cents an
Position.
The next consideration is position. The best position inch for advertising on contract. The bank decides to
in the newspaper ordinarily is what is known as an run an ad each week for a year in each of the papers,
“island” position on the first page surrounded by read to occupy five inches double column. The cost of this
ing matter. With many papers this is an impossibility. advertising for the year will be $250, leaving a balance
The next best position, however, is top of column next of $40 for miscellaneous publicity such as an occasional
to reading matter and it should not be difficult for the quarter page in the newspaper or special folders or
average bank, by making a special arrangement for booklets to be handed out over the counter. The suc
regular advertising, to secure such a position perma cess of a modern campaign like this of course will de
nently. It is always well to watch one’s advertising pend very largely on the nature of the copy used in
day by day in order to be assured of continued good the newspaper advertising. This would have to be pre
position, for in ¿he rush of making up the average pared week by week in advance by an officer or em
newspaper the advertiser who never makes any com ployee of the institution.
plaint will soon become known in the “make-up” room
Change of Copy.
as “easy” and is apt to be gradually forced into an
There
should
be
change of copy each time an ad
out-of-the-way place on the page.
vertisement
appears,
and there need be no fear as to
An Advertising Plan.
a scarcity of subjects, for contrary to popular notion a
Suppose we apply these theories to a concrete case. bank
furnishes an almost endless variety of topics for
Here is a bank, with $50,000 capital, in a town of ten
continuous newspaper publicity. A writer on the sub
thousand population. The town has two weekly ject
of bank advertising has compiled a book entitled,
papers. There are three banks in the town. One of “2,000
for Bank Advertisers,” and by no means
the banks decide to start an advertising campaign. In has he Points
exhausted
the list. I have in mind a bank in
the first place a card list is made of practically every the middle west that
conducted a savings bank cam
paign for nearly two years, running two advertisements
a week in each of a hundred periodicals, making a total
of approximately two hundred advertisements, and no
two were alike.
1 63
HANGER PANEL—b e v e l e d p la t e g l a s s
"BRILLIANT” g o ld le t t e r s
WESTERN DISPLAY CO., Saint Paul
SE N D F O R C A T A L O G
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Federal Reserve Bank of St. Louis
N. E. FLEKKE BECOMES VICE-PRESIDENT OF
THE POLK COUNTY STATE BANK
CROOKSTON, MINN.
P. M. Ringdal has been re-elected president of the
Polk County State Bank of Crookston, Minn., and N.
E. Flekke has succeeded L. W. Larsen as vice-presi
dent. G. O. Hage was re-elected cashier.
James Hanson, deputy county auditor, has resigned
from that position to become assistant cashier. He
succeeds Roy W. Larsen, who resigned a year ago,
but who remained in office to the present time.
Cashier Hage reports a very successful year.
February, 1916
The marv with
You See This
Don’t You?
O thers w ill see y o u r ads
if th e y are like it, w o n ’t
they?
L et us explain to y o u
h o w y o u can get a dif
feren t p ictu re and a dif
feren t ad. in y o u r o w n
hom e new spaper every
w eek.
IN
THE
BANK
is master of
evryistuation.
He can $rasp any $ood,firstclass business opportunity.
W e w ill gladly do so.
Advertising That Gets Results
Outcault’s
Christmas
Banking
Club
We Can Show You
will .start a
Account
join our
Xmas
Cub
A very simple and practical
plan to get a large number of
depositors.
Operating Pass Book and Card
Index System.
Easy to install.
d have
Easy to run.
A tremendous success.
next
Christmas.
Ask us about it.
O U T C A U L T A D V E R T IS IN G CO.
CHICAGO, ILL.
508 South D earborn St.
Please mention this paper.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
52
THE
NORTHWESTERN
BANKER
February, 1916
Legal Opinions and D ecision s
This department contains each month excerpts from the
Overdue Bills and notes.
to make an abstract of this
latest decisions on banking and commercial law carefully
The payment to the
and other notes and would
selected from recent decisions of the supreme courts of
original holder of a note
return them as soon as he
Iowa, Nebraska, Minnesota, North and South Dakota, and
which he had sold after
from other states when the decisions are of interest to
had done so, and failed to
our subscribers. Questions of interest to bankers will be
maturity and which was
do so and delivered the
discussed and ANY SUBSCRIBER has the privilege of
not in his possession and
note to the payee, who
writing for information and advice on any legal subject.
where he had no author
sold it to a bona fide hold
He will receive an immediate reply from our attorney
ity to collect, is held not
er, and the right of the
without any fee or expense. A complete trial brief of any
valid as against the true
subject involving exhaustive research in a complete Law
bona fide holder was de
Library will be furnished at any time for $10.00. In w rit
owner in the Arkansas
nied.
ing for information, kindly enclose a 2-cent stamp for
case of Calhoun v. Ains
Under the Negotiable
reply and address "Legal Department” care The North
worth, 176 S. W.I 316; L.
Instruments Law where
western Banker, Des Moines.
R. A., 1915 E., p. 395.
the instrument is in the
Theft from Maker.
hands of a holder in due course a valid delivery
The recent Washington case of Angus v. Downs, thereof by all the parties prior so as to make them
147 Pa., 630, holds that the fact that the note has been liable to him is conclusively presumed. Under this act
stolen from the maker without delivery is no defense the defense that the note was lost or stolen from the
if it appears in the hands of a bona fide holder for value maker before delivery is ineffectual.
before maturity.
Groester v. Segarman, 76 N. W. Sup., 922.
Under the statute providing that where the instru
But if the instrument is incomplete it does not be
ment is in the hands of a holder in due course a valid come a valid obligation even in the hands of a bona
delivery by all prior parties so as to make them liable fide holder. Thus an incomplete check which Was
to him is conclusively presumed. It is a general prin signed and placed in a drawer without being filled out
ciple well established that delivery of a bill or note is and was stolen from the drawer and filled out and ne
essential to complete the contractile relation intended gotiated does not become a valid obligation in the
to be created between the parties as between the im hands of a purchaser, and if he has collected the
mediate parties or persons whose rights are no higher amount thereof the drawer upon paying it may recovthan those of the immediate parties. There could be PI" th f* QPtTlP
no doubt of this principle, consequently notes which
Linick v. Nutting, 125 N. Y. Sup., 93.
have been stolen before delivery convey no rights to
Liability and Intermediary Bank.
the payee or one holding under him with notice.
Where a check was sent in by mail and was inter
Thus, a payee to whom notes have been executed cepted by a third person and stolen from the mail and
but not delivered, who asks for the privilege of looking cashed by an intermediary bank with a forged en
at the notes and upon getting them in his possession dorsement thereon, the payee of the check may sue
left the maker and refused to return them on demand the bank for the conversion of the check.
cannot recover.
(N. D.) Crisp v. State Bank of Rolla, 155 N. W., 78.
Carter v. McClintock, 29 Mo., 464.
Innocent Holders.
The Supreme Court of Minnesota, in Erickson v.
Where a note is sold by one who is without ques
Roehn, 21 N. W., 865, held that where a non-negoti- tion an innocent holder to another party and there is
able note which has been returned by the payee to the no evidence that the last holder of the note was guilty
maker and a negotiable note substituted therefor had of fraud, he is an innocent holder with all the rights
been stolen from the safe of the maker where it was thereto pertaining, says the Supreme Court of South
placed and transferred to another to whom the maker Dakota in Kahney v. Thayer, 154 N. W., 1103.
states on inquiry, not knowing that any but the second
The Supreme Court of Iowa in a recent case decided
note was out, that “the note against me for the sum that where the payee of a note carrying interest agreed
of $300 is correct,” there is no evidence tending to to cancel the face of a note in consideration of the
show negligence on the part of the maker so as to work maker’s annual payment during the payee’s lifetime
an estoppel against him.
of the amount of interest charged, it was held that this
Bank’s Liability.
was a sufficient consideration to support the agree
The bank which paid a non-negotiable check of one ment to discharge the face of the note, though the
of its depositors which he had made payable to him payee was then over ninety.
self and endorsed in blank and which was stolen from
This decision, handed down December 16th and re
him before delivery to the person to whom he intended ported in 155 N. W., page 259, is of great value in de
to deliver it, is protected in making such payment.
ciding the rights in those cases where parents in con
Bowden v. Third Nat’l Bank, 8 Ohio Reprint, 394.
sideration of the payment of a certain rate of interest
Leaving the check in this shape and carelessly af during their lives by their children agree to discharge
fording any person the opportunity of becoming the the face of the note; such a contract is good and the
holder, the drawer of the check cannot complain if the agreement to pay this rate of interest for life being
bank recognized his endorsement as an assignment of for an indefinite time is a sufficient consideration to
his personal right to collect the amount of the check. uphold the discharge of the note.
In Roberts v. McGrath, 38 Wis., 52, a note was exe
Transferee After Maturity.
cuted and turned over to a bank which was to hold
Where a note is transferred before maturity, as we
the same subject to the order of the maker and this have often said, and is in the hands of an innocent
note was obtained from a clerk of the bank by an purchaser for value, no defenses are available against
agent of the payee with the statement that he desired it before the Supreme Court of Iowa.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE
February, 1916
NORTHWESTERN
53
BANKER
One of the Strongest Banks in Iowa
T he First N ational Bank
FORT DODGE, IO W A
Oldest in Fort Dodge
Established 1866
E are in position to render Y O U the
same safe, efficient, satisfactory service
w e have rendered scores of other banks in
this territory for years.
W
C a p i ta l ..................................... $300,000
Surplus and Undivided Profits
$270,000
Resources Over Three Million Dollars
WEBB V IN C EN T, Chairman
E. H. RICH. President
GEO. L. RICH. Cashier
O. M. OLESON, Vice-Pres.
C. D. CASE, Asst. Cashier
J. FLOYD, RICH, Asst. Cashier
In Steele v. Ingraham, 155 N. W., 294, it is held that
against the transferee after maturity the maker’s de
fenses are available as though the payee had sued.
Where a transferee brings an action on a note subject
to equitable defenses, the burden of proving such de
fenses is on the maker of the note.
A certain party gave her agent a note for $175 pay
able each year after date, which was transferred after
maturity to another party, who brought suit thereon,
and it was sought to introduce paroled evidence that
the agent in consideration of receiving the note had
promised to sell certain land for the defendant within
the year at a certain price per acre or rent it at a cer
tain rental, but it was held that this evidence was inadmissable to vary the terms of the note. It must be
remembered that it rested within the power of the
court to decide whether or not the evidence will sup
port a verdict for defendant, and if not he may so in
struct the jury and it will be their duty to find accordingly.
Where a bank purchases a note without any notice
of fraud and the instrument is an ordinary promissory
note on its face, the court will instruct the jury that
unless notice of the fraud can be brought home to the
bank that it must find for the plaintiff and allow the
collection of the note.
In Pyle v. East, 155 N. W., 283, the Supreme Court
of Iowa has taken up the effect of gifts and of deliv
ery of note after death.
A certain man conveyed land to his nephew, taking
his note therefor, and at the time papers were drawn
he made an endorsement on the note that it was to
be void and become the property of the nephew at his
death and delivered it to a bank, with instructions to
turn it over to the nephew in event of his death. In
the meanwhile he collected the interest and paid it to
the payee while he lived. The payee never thereafter
withdrew or demanded the note, though he lived for
several years. It was held that this constituted a gift
to the nephew of the principal of the note with a res
ervation of the interest thereon during the payee’s life
time, and in an action brought by the administrator
to collect this note, it was held that the defendants
(makers of the note) were exonerated from all obli
gation.
The Rochester National Bank, the oldest banking
institution in Rochester, Minn., was granted its third
twenty-year charter recently by the United States gov
ernment.
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Federal Reserve Bank of St. Louis
NEW BANK AT NEW YORK MILLS, MINN.
The Farmers and Merchants State Bank of New
York Mills, Minn., has filed its articles of incorpora
tion. Its capitalization is $12,000.
The stockholders are : A. E. Blomberberg, J. K.
Maki, J. M. Ojala, and E. R. Rosser. Mr. Rosser will
be the cashier.
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I CertifiedPublicAccountants g
Financial Investigations
A udits
J
C ost and A cco u n tin g
System s
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î WM. GUTHRIE & CO. j
I
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2 3 4 - 2 3 5 D a v id s o n B ld g .
SIOUX CITY
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IOWA
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G. A. KENDERDINE, Attorney
TOLEDO, IOWA
Prompt attention given all legal busi
ness, claims or collections.
Banking law a specialty.
Notary Public for Tama County, Iowa.
54
THE
NORTHWESTERN
Farm M ortgage
BANKER
February, 1916
D ep a r tm e n t
In this department the various phases of the Farm Mort
Progressive Farmer Re
development of the coun
gage business are discussed, as it is our desire to bring to
gards Farm Mortgage
try by furnishing cheap
you all the helpful suggestions and ideas possible along this
as a Blessing.
money to buy and improve
line. We shall be glad to have you ask any questions con
I am safe in saying, says
cerning Farm Mortgages that may be puzzling you. Also
new lands. Such of these
we shall be glad to have you express your opinions on any
H. S. VanAlstine, that the
companies as confined
particular subject along this line in which you are inter
average intelligent, pro
their operations to safe lo
ested. Address your letters to “ Farm Mortgages,” North
gressive farmer regards
calities and followed rea
western Banker, Des Moines, Iowa.
the farm mortgage as a
sonably c o n s e r v a t i v e
blessing, in retrospect at least. He may not fully ap methods, succeeded in large measure. Nearly all made
preciate it during the paying period, but when he has excellent records for years, and their bonds and deben
acquired a competence the mortgage will have a gen tures ranked high as safe and stable investments.
erous credit mark.
These very conditions, and the confidence of the in
This view is often obscured and distorted by the vesting public, opened the way for abuses. Large
demagogue and muck-raker, whose chief occupation is profits could be had by taking loans on lands in new
an effort to convince the people that they are worse off and untried localities, where rates were high and pos
than they had imagined.
sible profits proportionately large, with the result that
The money trust is hung high as a bogey man, and many of these companies wailed dismally, bringing
the farmer is told that he is a class set apart for exploi distrust and discredit upon this class of securities.
Confidence is the keystone of the commercial bank
tation by all who come his way.
I have no sympathy with the political mountebank ing house, and is no less important to the farm mort
who works upon, and endeavors to create a class preju gage banker.
The fundamental rule should be, and is, security first,
dice, in order to attain some personal end.
The agitator has a proper place in this old world, and and rates afterwards.
One salient feature which the conservative broker
must have his full share of credit in the march of
progress, but the cultivation of class distinctions and and investor must keep in mind is that these values
will “hit the high place” somewhere, and thereafter
class hatred, will benefit no one.
The present tendency of the lawmakers of our coun there will be no steadily increasing value to catch up
try toward paternal government, and the enactment of with over valuation, and loans must be more conserva
sumptuary laws are contrary to the principles held most tively placed than during the developing period. I dare
dear by its founders, and any move toward class legis say that many questionable loans have been made good
lation or direct state loans on lands, would be repug by this process of rising values.
A few days ago I met a successful lawyer of our part
nant to the best intelligence of our rural citizens. They
realize that in the final settlement we pay most for that of the state of Iowa who told me of his experiences
which we try to get for nothing, and such legislation some twenty-five or thirty years ago in borrowing
will in the end re-act upon those whom it is intended to money. He bought a quarter section for about $1,500,
paying $100 down. He then drove to the county seat,
benefit.
The local agent or middleman has been considered borrowed $2,000 on this same land, paid for it, and had
one of the luxuries or parasites of the farm credit sys $500 profit and the land. The loan was paid promptly,
tem and a tax upon the farmer. Every fence has two and that farm would now be worth $30,000. I know
sides—and of course we see our own side plainest. In the money lender very well, and he today boasts of
my opinion he has been a benefactor to the farmer. He having loaned several million dollars without a fore
has made it his business to investigate new territories closure or loss of a cent to himself or his investors.
and acquaint the possible investor with the merits of That loan agent was really not intentionally indiscreet,
his particular locality, and has induced the man with but the land was bought for less than it was fairly
worth, and both the owner and the agent were over
cheap money to invest.
Many of the early mortgage companies operating in optimistic and over-valued the land.
It is impractical for large investors to depend upon
the middle west gave most valuable service in the
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I
I
i
I
8
5% FARM
LOANS WANTED
We have a large amount of money to lend on Iowa farms on advantageous terms and at lowest
rates. We want regular connections in many Iowa, Minnesota and South Dakota counties, with a view
to securing a steady volume of good loans.
Write us for terms and tell us what you have.
The Leavitt & Johnson Trust Company
WATERLOO, IOWA
Emmons Johnson, Pres.
E. L. Johnson, Vice-Pres.
B
Carleton Sias, Vice-Pres.
C. R. Davis, Sec’y.
Geo. W. Williams, Ass’t Sec’y.
W. C. Logan, Treas.
Capital
$150,000.00
Surplus and P rofits - 200,000.00
j
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§
§
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I
1
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
February, 1916
THE
NORTHWESTERN
BANKER
55
FUNDS FOR FARM LOANS
Bankers desiring permanent connections for placing farm loans w ill find it advantageous
to w rite us. Representatives desired in m any sections of Iowa.
A sk for full information giving us details of w hat you have to offer.
American Mortgage & Securities Company
Manchester, Iowa
C apital $200,000
A. M. C L O U D , P resident
J. H. T R E W IN , V ice-P resident
J. F. G R A H A M , V ice-P resident
L
the representations of the farmer himself. This is not
essentially because the farmer is dishonest, for such is
not the case. The average farmer is probably no more
honest or dishonest than the average banker or grocer,
but he is naturally an optimist. His interests make him
so. High prices for land or produce means wealth and
prosperity, to the farmer, and this cultivates optimism.
Therefore, when he values his land for loan purposes,
he is biased by this optimism, and is prone to put the
values high enough to meet his requirements. This
same trait is sometimes cultivated by the agent, but
experience soon teaches the conservative broker that it
is a bad policy to “put over” an overvalued or undesir
able loan.
This optimism is not wholly unwarranted. Our
farmers have seen this broad land develop from a wild
waste of rolling prairies and primeval forests into pro
ductive farms, and the values have steadily kept pace
with this development.
The practical farm loan investor naturally wants to
put his money where he can get the best interest rates,
consistent with security. He is not lending his money
from charitable motives.
However, he realizes that the prosperous borrower
is the best risk, and he prefers to lend his money where
it will return a mutual profit, thereby insuring satisfac
tory relationship and prompt pay.
Years of experience have now developed a reasonably
systematic method of placing farm mortgages, and in
vestors have profited by the experience and vicissitudes
of the successful and unsuccessful companies that have
gone before;
D ignified Investm ents for C onservative People
10 year 6 per ce n t S. A. Bonds. Secured by
depositing selected First M ortgages w ith a strong
T rust Com pany. D enom inations $50.00, $100.00,
$500.00, $1000.00.
SELECTED CITY AND FARM LOANS FOR SALE
If yo u w ant banking or any other dignified
in vestm en t w rite to
PACIFIC MORTGAGE COMPANY
ISAAC SPRINGER, President
f 124 W . F o u r th S t.
L os A n g e le s , C a l.
______________________________________________
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
F. C. W A P L E S , S ecretary
H. E. H E N D E R S O N , T re a s u re r
Carefully Selected Farm Loans
in the best sections of Minnesota, the
Dakotas and Montana are dependable
income producers. You receive your
interest the day it is due and your
security enhances in value every year.
Nothing safer—nothing better. Ob
tainable in sums to suit—from $500
upwards. Our own money invested in every loan. Our
long experience in this field controls the choicest offerings.
Write for booklet. Make your money work while you sleep
and be safe.
W estern M ortgage Loan Com pany
Successors to L. O. Tollefson Co.
530 S e c u r it y B u ild in g
M in n e a p o lis , M in n .
FOR S A L E
Western Farm Mortgages
representing not to exceed 50% of the actual
cash value of improved farms in the best
agricultural districts of M ontana and
Wyoming. Every loan offered is a com
pleted loan, in which we have invested our
own funds after an inspection by our own
salaried inspector.
Correspondence solicited
Bankers Loan and Mortgage Company
Billings, Montana
CAPITAL $500,000.00
Incorporated under the laws of Montana
OFFICERS:
T. A. SNID0W, President
LEE N. GOODWIN, Secretary
FRANK O’MEARA, Vice-President
HERMAN J. WITT, Treasurer
CLYDE McLEMORE, Asst. Treasurer
56
THE
NORTHWESTERN
BANKER
February, 1916
For Bankers and Their Wants
This department of T H E NORTHW ESTERN BANKER is
to assist SUBSCRIBERS in obtaining goods or service hard
to find. It is free. Use it. ASK US, as we can tell you
where to buy anything you need in your bank or for your
bank. T E L L US, as your “want” will be published under
the above heading free of charge. In answering classified
advertisements which have key numbers please enclose a
two-cent stamp. This is used to forward your letter.
HOW THIS DEPARTMENT GIVES YOU REAL
SERVICE.
This is a regular department of TH E NORTH
WESTERN BANKER, to assist subscribers in obtain
ing goods or service hard to find. Institutions seeking
high-grade men and bankers seeking a better connec
tion should TELL US—as your “want” will be pub
lished under the above heading free of charge. It is
the direct route to securing the position or man you
desire.
ASK US, as we can tell you where to buy anything
you need in your bank or for your bank, including bank
fixtures, safe deposit boxes, vaults, metal furniture, the
ATTENTION! E xp erienced C ashiers
We have 44 shares stock in a good $10,000 cap
ital state bank in Nebraska for sale at $135 per
share. We want an experienced cashier for this.
Good salary and good future. Write us confiden
tially.
ROGERS REFERENCE COMPANY
540 Paxton Blk.
Banking Dept.
service of bank architects and builders, typewriters,
adding machines, ledger and bookkeeping systems,
electric signs, advertising novelties, calendars, check
protecting machines, books on banking and banking
law, safety paper, lithographed checks and drafts, serv
ice of certified accountants, advertising service, fidelity
and surety bonds, burglary insurance, life insurance,
electrical burglar alarms, accident insurance, phono
graphs, dictating machines, the best service from city
banks and correspondents—in fact, ASK US about
anything you want to buy or any service you wish to
secure.
This is a complimentary service to our readers and
may be worth many times the price of a year’s Sub
scription to The Northwestern Banker.
We will place you in communication with reliable
firms or expert service men, lay before you the infor
mation we possess, or publish a blind advertisement
securing as many propositions as possible from re
sponsible parties, without charge. Please enclose a
2-cent stamp for reply.
OMAHA, NEB.
FOR SALE—Small bank near Salem, Oregon. Re
quires about $16,000 to handle. H. W. Long, 1005
Haas Bldg., Los Angeles, Calif.—2.
BANK FOR SALE
North Central North Dakota. Capital
and Surplus about $20,000, Deposits about
$175,000, Earning Power 30% to 40%. Price
about $25 over book value.
BUSINESS SERVICE COMPANY
(Banking Department)
632-634 McKnight Bldg.
MINNEAPOLIS, MINN.
. yOUNG LADY, twenty-two years old, desires po
sition in Bank. Has been for past two years and is at
present employed in the Winfield State Bank. Ca
pable of doing usual detail work in country bank. Hel
en L. Young, Winfield, Iowa.—2.
FIXTURES FOR SALE—Having decided to build
and equip a new bank building, we offer for sale our
modern counter fixtures built of quarter sawed oak,
with marble base and dealing plates, three windows
and door to private office; length thirty feet. Could
GEORGE S. PARK ER, President
F.
L. E A T O N , V ice-President
C. D. V A N DYKE, Cashier
A . W . SM ITH, A sst. Cashier
LIVE STOCK N A TIO N A L BANK
Capital
$100,000.00
Sioux City, Iowa
LOCATED A T THE STOCK YARDS
Deposits $2,500,000.00
Surplus
$ 100, 000.00
The GREAT NORTHW EST being the feeding ground of the Live Stock Industry,
by virtue of our location at the MARKET PLACE of this territory, w e can offer
unsurpassed RESERVE facilities for Country Bankers.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
February, 1916
THE
NORTHWESTERN
deliver about April first. Write for further partic
ulars. State Savings Bank of Lamoni, Lamoni, Iowa.
— 2.
BANKER
57
Capital and Surplus $10,000,000
WANTED TO BUY control of high-grade bank,
well located in the middle west. Can invest up to $25,000. Address ‘‘President,” care the Northwestern
Banker.—2.
BANK POSITION WANTED in a country bank
at once by single American, age 24. Nearly four years
all around experience in live country bank where still
employed. Not a stenographer, but can operate type
writer. Moderate salary. References from present
employers and others. Address 1973, Northwestern
Banker.—2.
POSITION WANTED at once by clean-cut young
man, as bookkeeper. Would much prefer bank work,
as I have had three years’ experience. Will start at
living salary to prove ability. Best of references. Ad
dress 1974, Northwestern Banker.—-2.
WANTED—To get in on a new bank organization,
to invest in same and take the cashiership. In a good
Iowa or Southern Minnesota town of 1,000 people or
larger. Address 1975, Northwestern Banker.—2.
WANTED—Position by young married man as as
sistant cashier or bookkeeper. Have had five years
experience. Address 1968, The Northwestern Banker.
—2.
WANTED—To purchase good private bank in
eastern Iowa or small state bank in southern Wiscon
sin or Minnesota. Give full details first letter. Ad
dress 1967, The Northwestern Bajiker.—2.
T h e character o f this bank is reflected in the
personnel o f its board o f directors
FRANK H. ARMSTRONG, President Reid, Murdoch & Co.
ENOS M. BARTON, Chairman Board of Directors Western Elec
tric Company.
CLARENCE A. BURLEY, Attorney and Capitalist.
HENRY P. CROWELL, President Quaker Oats Company.
WILLIAM A. GARDNER, President Chicago & Northwestern
Railway Company.
EDMUND D. HULBERT, Vice-President.
CHAUNCEY KEEP. Trustee Marshall Field Estate,
CYRUS H. McCORMICK, President International Harvester Co.
SEYMOUR MORRIS, Trustee L. Z. Leiter Estate.
JOHN S. RUNNELLS, President Pullman Company.
EDWARD L., RYERSON, Chairman Board of Directors Joseph
T. Ryerson & Son.
JOHN G. SHEDD, President Marshall Field & Company.
ORSON SMITH, President.
ALBERT A. SPRAGUE IT., President Sprague,Warner & Co.
MOSES J. WENTWORTH, Capitalist.
ALL B R A N C H E S OF B A N K IN G
FOR SALE—A reasonable amount of stock in an
up-to-date bank in central Iowa, with official position.
Address 1965, The Northwestern Banker.—2.
WANTED—Bank position. A permanent place in
a country bank as assistant cashier and bookkeeper. I
am a young married man, age twenty-five. Have had
three years’ experience in all departments of State and
National Banks. A graduate of good commercial col
lege, and not afraid of work. I am free from all bad
habits and will make good. AT references furnished.
Address 1971, The Northwestern Banker.—2-tf.
W E HAVE a customer who wants to buy control
in good Iowa or Nebraska bank in town of not less
than 2,500. Can put in up to $60,000.00. All commu
nications held strictly confidential. Westergaard &
Peterson, 362-4 Brandeis Theatre Bldg., Omaha, Neb.
—2.
WANTED—Position as cashier of country bank.
Over five years’ banking experience. German Cath
olic, married, 26 years old. I am employed at present.
Desire change, Western Iowa preferred. Hustler. Can
invest. Very best of references. Address 1972, The
Northwestern Bánker.—2.
WANTED—Bank position. Have had six years’
experience in bank, and four years of that time as
cashier. Can work any time after March 1st, as I am
employed until then. Address 1969, The Northwest
ern Banker.—2.
Life Insurance Stock For Sale
WANTED—Position as cashier. I am BohemianAmerican, 32 years old, read and speak both languages,
not married. One year with the Merchants National
Bank of Cedar Rapids, Iowa, in the transit department,
six years with First National Bank, Garner, Iowa. Ad
dress 1970, The Northwestern Banker.—2.
FOR SALE—A complete set of mahogany bank fix
tures, also good vault doors. Will be sold cheap if
taken soon. First National Bank, Odebolt, Iowa.—2.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A Few Shares of Life Insurance Stock for
Sale. Address 197, Northwestern Banker.
The State Bank of Delano, Minn., held their annual
meeting and that institution was found to be in a very
flourishing condition.
The annual meeting of the stockholders of the Mount
Ayr State Bank, Mount Ayr, Iowa, was held recently.
All the old officers were re-elected.
58
THE
NORTHWESTERN
BANKER
February, 1916
BIG SIOUX CITY INSURANCE
COMPANY LICENSED
(By Staff Reporter)
Sioux City and the Insurance and banking are closely related in the field of than any other com
and it is indeed gratifying that Iowa should be pany ever formed in
great northwest terri finance
chosen as the home of the National Fidelity Life Insurance
tory it serves is to be Company, one of the largest life insurance companies ever Iowa.
It has more bankers
congratulated, for Sioux organized in the Northwest.
back of it, as stockhold
City is now the home of
ers and directors, than any other company—126
the largest life insurance company ever organized
influential bank officials of this section of the
in Iowa, the one great insurance state. This fact
became a reality on January 19, 1916, when
country being identified with the National
Fidelity.
the state insurance department accepted the
A Tendency of Interest to
securities and officially
Bankers.
licensed the National Fi
There is a tendency
delity Life I n s u r a n c e
among bankers that makes
Company of Iowa. Also,
the establishment of a
a record w a s e s t a b
strong life insurance com
lished in Iowa insurance
pany in this territory es
matters, for the securities
pecially opportune at this
representing the capital of
time.
this company was the
The present concensus
largest similar deposit
of opinion among bankers
ever made in the state.
generally, especially those
This is of importance to
of smaller towns, indicates
the bankers of the North
that bankers are going to
west, inasmuch as it is the
do more in the handling of
first life insurance com
the insurance business in
pany ever formed in Sioux
the future.
City, and the only one in
The banker is looking
its great territory. This
more and more upon in
places within this terri
surance as a desirable and
tory, ideally located for
logical part of the banking
the convenience of its
business. It is interesting
bankers, closer to them
to note the increasing ten
than any other, a solidly
dency toward “Insurance
organized, largely capital
Departments,” not only in
ized, ably managed life in
country banks, but also in
surance company.
city banks.
The fact alone that
Ralph H. Rice, one of the
The aggressive banker
best known, most capable,
today realizes that insur
energetic insurance execu
ance has always been a
tives in the west, is presi
part of his business. But
dent of Sioux City’s big
he has received little com
company will be sufficient
pensation other than addi
information to those fa
tional detail and bother
miliar with the leaders
being thrust upon him.
of ability in the insurance
The banker is the man
world to assure them that
who must take the lead in
the building up of the community.
success is ahead for the National Fidelity.
It is the banker who has to pass on credits in
But it is not merely the fact that experienced,
well-known men fill the official offices of the com his community.
He is the man people come to for advice, on in
pany. These men have the most solid of founda
surance as well as other matters.
tions upon which to build.
The bank is where people go for loans to meet
The National Fidelity Life has a capitalization insurance premiums.
of $200,000.00, fully paid up, and the securities
Today, the aggressive banker feels that he is the
accepted and deposited with the state.
man who should go just a step farther and have
It began with more stockholders back of it more to do with writing the business. He has been
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
February, 1916
THE
NORTHWESTERN
handling the detail of it anyway—but “Mr. Go-Be
tween/’ to use the expression of a prominent bank
president in speaking on this subject, has been
coming in from outside cities and has not compen
sated properly the local banker.
It is rather an imposition upon the banker to
have him give advice in the matter, do his share in
the upbuilding of the community for outside insur
ance agents to benefit from, and then see them
come in and take the entire commissions out of the
community, when in all probability the banker will
have to help meet the premiums with loans, and if
not a loan, it is a check on his bank.
In many ways, insurance and banking are closely
allied.
It has come to the place where today the banker
feels that a customer is a better customer if he
carries insurance, because he is a better financial
risk.
Bankers who have made insurance a regular part
of their business have found it a very desirable de
partment, and a profitable one. Also, it proves a
greater convenience to the people, of the commun
ity. It makes it possible for them to deal with the
banker, whom they know and whose advice they
seek anyway, rather than altogether with
strangers.
In view of these things, we believe the establish
ment of the National Fidelity Life at Sioux City is
an opportune occurrence to th e' bankers of this
territory at this time.
Largely a Bankers’ Company.
In other ways, the National Fidelity is largely
a bankers’ company. The fact that so many promi
nent bankers—126 of them—are backing the com
pany, some of them serving actively as directors,
has its significance.
The company is strongly backed in Sioux City,
by' many of that city’s most influential, conserva
tive and successful business men. Included in
these are officers and directors of three of Sioux
City’s largest banks.
The capital of the company is such as to enable it
to operate anywhere in the United States that it
desires.
Favored by Iowa Laws.
The stringent insurance laws of the state of
Iowa make this company as safe as any company,
no matter how long established.
The banker often feels he is bound down and
closely restricted by state and national banking
laws. But insurance companies in Iowa are much
more so. These laws cover practically every phase
of the insurance business, and designate just how
it shall be conducted, even to the minutest detail.
Iowa insurance laws, compiled, completely fill a
book of 177 pages.
Under the compulsory deposit law, Iowa insur
ance companies must deposit their securities repre
senting their entire capital and all reserves with
the state. The law even designates the kinds of
securities that may be used.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BANKER
Iowa is a noted insurance state. Almost twice
the amount of securities are on deposit with the
Iowa commissioner as may be found on deposit
with the great New York department. The in
terests of policyholders of Iowa companies are in
other ways protected and safeguarded by the state,
and of the numerous Iowa companies, the National
Fidelity Life is the largest company ever
organized in the state, and at present, regardless of
age, it has the second largest capital.
Founded on Desirable Lines.
In many ways, insurance resembles banking. As
in banking, there are many respects where there is
little room for choice as to companies. There are
advantages to be offered, however, in the manner
of personal service (as with banks), and in liber
ality of advantages offered to policyholders.
Our personal acquaintance with the officers of
the company convinces us that their personal serv
ice will be of a very high standard.
And as to liberality of advantages and benefits
granted, there are no companies in the United
States, so far as we know, who have more to offer.
They are in position to include any policy condition
—all the newer ones—that may be included by any
life insurance company.
They include and feature, for instance, the total
disability clause and double indemnity benefits—
granted by only one other of the companies oper
ating in Iowa.
The convenience of location for those within
Sioux City territory will prove a strong advantage.
There has never been an insurance company in this
territory, but now this rich section has placed
within its easy reach this large company.
Ably Directed.
Ralph H. Rice is president. Mr. Rice is a man
of wide experience in the insurance world. He has
been engaged in the insurance business since his
twentieth year. His experience is both general
and practical. But it isn’t alone experience. Mr.
Rice is a man of capacity—he has a broad vision—
is an organizer—and he has that all-important
faculty of making friends. His personal friends
and acquaintances include the insurance fraternity
over many states. Mr. Rice has been prominently
connected with other companies for many years.
Mr. E. E. Brown, secretary, is a man of much
energy, sound judgment, broad insurance experi
ence—a doer. He has been connected with the in
surance business in different capacities for the past
six years, previous to which he spent five years as
a bank cashier.
Considering all—the ideal location, the unusual
strength, the influential backing, the size of the
company, the liberality of policy conditions,
and the experienced, highly efficient men in every
department, who are to direct the affairs of this
company—we can see nothing but a substantial
growth and success ahead for the National Fi
delity Life Insurance Company of Iowa.
59
60
THE
NORTHWESTERN
WESTERN LIFE HOLDS ANNUAL MEETING.
The Western Life Insurance Company of Des
Moines held the annual stockholders’ meeting recently,
followed by the annual directors’ meeting. All officers
and directors were re-elected for the coming year with
Jas. H. Jamison, president; A. D. Struthers, secretary
and treasurer; M. L. Turner, M. D., medical director;
H. D. St. John, assistant secretary, together with mem
bers of the board of directors, S. F. Ellis, John C.
Petty, Robt. T. St. John.
BANKER
February, 1916
Stockholders present at the meeting presented a reso
lution congratulating the officers and directors on the
successful year just closed.
The Western Life, although one of Iowa’ younger
companies, is making a creditable record. Among
fourteen Iowa companies the Western Life stood sixth
place in the amount of business written during 1915.
JOHN R. WASHBURN PROMOTED TO VICE
PRESIDENCY OF THE CONTINENTAL
AND COMMERCIAL NATIONAL
BANK, CHICAGO.
John R. Washburn, who has been the efficient cash
ier of the Continental and Commercial National Bank
of Chicago, has been elected vice-president of that in
stitution.
Build Business-Increase Deposits
A s P r e s i d e n t S te v e n s a n d O th e r P r o m i n e n t B a n k e r s H a v e
D o n e T h r o u g h t h e R i g h t U se o f________
tf'/i f A d vertisin g,C oin s o y
Y o u r e a d l a s t m o n t h o f M r. S te v e n s ’ g r e a t s u c c e s s i n u s i n g
a d v e r t i s i n g c o in s to s e c u r e n e w b u s i n e s s a n d l a r g e r d e p o s its
f o r t h e C e n tu r y S a v in g s B a n k o f D e s M o in e s—
B u t t h i s i s o n ly o n e i n s t a n c e C a n d w e h a v e p r e p a r e d a
b o o k l e t t h a t g iv e s y o u t h e s t o r y i n g r e a t e r d e t a i l —
T e lls o f t h e s u c c e s s f u l u s e o f A d v e r t i s i n g C o in s i n m a n y
d i f f e r e n t w a y s — f o r O ld H o m e W e e k , N e w c o m e rs ’ D a y , C o u n
t y P a i r s , C o n v e n tio n s , w h e r e v e r p e o p le c o n g r e g a t e — to r e
p la c e a b u s i n e s s c a r d w h e n c a l l i n g o n p r o s p e c t s — a t t h e
c h u r c h b a z a a r — c a n b e u s e d i n B a n k i n g o r S a v in g s 1 D e p a r t
m e n t s — f o r s a v i n g s o r d r a w i n g a c c o u n ts .
• T h is b o o k l e t is c r a m m e d f u l l o f id e a s y o u c a n u s e i n y o u r
to w n , i n s u r i n g b i g d iv id e n d s o n y o u r l i t t l e i n v e s t m e n t in
c o in s .
W r i t e f o r F r e e S a m p le a n d “B o o k o f P l a n s .”
L. F. GRAMMES & SONS., Mfrs.
ALLENTOWN, PA.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Since Mr. Washburn entered the Fort Dearborn
National as messenger twenty years ago he has ad
vanced rapidly. In 1897 he entered the clearing house
department of the Continental and Commercial
National Bank. For many years Mr. Washburn has
been one of President Reynolds’ chief assistants in
executive matters.
E. O. STRICKLAND RE-ELECTED PRESIDENT
OF THE FLORIS SAVINGS BANK,
FLORIS, IOWA.
At the annual election of the Floris Savings Bank,
Floris, Iowa, the following officers were elected for the
year 1916: E. O. Strickland, president; U. S. Heady,
vice-president; Charley Skinner, cashier; W. E. Hill,
assistant cashier.
The cashier’s report shows loans of $76,000.00; cash
on hand of $18,326.00, and the deposits amount to
$88,850.00.
February, 1916
THE
NORTHWESTERN
BANKER
THE CHARACTER COMPANY
Get the Significance of
These Facts—
The National Fidelity Life Insurance Co. is the
—First and Only Company ever organized in Sioux City and
its trade territory.
—Largest Company Ever Organized in Iowa.
— Nearly Six Hundred influential stockholders— 126 of
them Bank Officials.
—Strongest Backed, and best formed Company in the
Northwest.
— Has Every Penny of its authorized capital Paid Up in
cash and deposited with the state— the Largest Similar
Deposit Ever Made in Iowa.
— More Conveniently Located for Bankers in this territory
than any other insurance company.
—Easier Policy Contracts to sell— Greater Service to
buyers.
—Double Indemnity, Total Disability, and other ad
vantages granted.
E INCLUDE policy conditions
and advantages that most
companies either cannot or do
not. Our size and strength enable us
to include any policy condition that
any company on earth can—including
all the newer ones—among which
we pay double the face in case of accidental deatnT
Our convenient location, personal
service, great financial strength, liberal policy conditions will all prove
greatly to your advantage.
Get Our Proposition to Bankers
National Fidelity Life Insurance Co.
of Iowa
Sioux City, U. S. A.
R A L P H H . R IG E , President-
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
62
THE
NORTHWESTERN
BANKER
February, 1916
THE C ITY NATIONAL BANK
OF CLINTON, IOWA
Capital, S u rp lu s an d P roilts . . $ 300,000.00
D e p o s i t s .......................................
$2,920,000.00
OFFICERS
A. G. SMITH, President
G. M. CURTIS, Vice-President
A. C. SMITH, Vice-President and Cashier
A. W. HANSEN, Assistant Cashier
Accounts of Banks and Bankers received on most favorable terms. Correspondence invited.
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I
IOWA
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E. H. RICH BECOMES PRESIDENT OF THE
FIRST NATIONAL BANK, FORT
DODGE, IOWA.
E. H. Rich has been elected president of the First
National Bank, Fort Dodge, Iowa, to succeed Webb
Vincent. Mr. Rich has been in the banking business
in Fort Dodge for forty-one years. In 1874 he entered
the First National as bookkeeper, being elected assist
ant cashier the following year. The bank then had a
capital of $50,000 and deposits of $38,000. In 1892 the
Merchants National and the First National were con
solidated under the name of the First National, with
a combined capital of $200,000 and deposits of $442,000.
At present the capital and surplus of the combined
First National and Fort Dodge Savings Bank amounts
to over $650,000 and the deposits are more than three
million dollars.
Mr. Vincent has been in continuous banking service
for forty-four years.
The complete personnel of officers of the First Na
tional Bank is as follows : E. H. Rich, president ; O.
M. Oleson, vice-president; Geo. L. Rich, cashier; Chas.
D. Case, assistant cashier and secretary of the board;
J. Floyd Rich, assistant cashier.
Following the custom of many of the larger banks,
a new office, that of chairman of the board of directors,
was created and Mr. Vincent was elected to fill this
position.
STATE BANK OF BONDURANT, IOWA, CELE
BRATES TWENTY-FIFTH ANNIVERSARY.
The State Bank of Bondurant, Bondurant, Iowa, has
recently celebrated its twenty-fifth anniversary. A
very handsome card has been issued in which “they
avail themselves of this quarter-centennial occasion to
express their deep sense of gratitude for the loyal sup
port of hundreds of friends whose patronage and good
will have enabled the institution to grow to its present
position among the solid financial institutions of this
country. They express the hope that the cordial per
sonal and business relations which have existed may
continue for another quarter century.”
The officers of the State Bank of Bondurant are:
M. E. Gannon, president; W. G. Robinson, vice-presi
dent, and B. F. Rothrock, cashier.
J. N. KUHL BECOMES PRESIDENT OF THE
ALTON SAVINGS BANK, ALTON, IOWA.
The Alton Savings Bank of Alton, Iowa, has elected
the following officers : J. N. Kuhl, president ; William
...DIRECTORS...
C . F. A L D E N
LAFAYETTE LAMB
G. E. L A M B
S . R. S H A M B A U G H
T. M . G O B B L E
D A N IE L LANGAN
L. C. E A S T M A N
C. B. M I L L S
J. H . I N G W E R S E N
T h e o f f i c e r s o f t h i s b a n k a re
n e v e r to o busy to a n s w e r q u e s t i o n s o r to r e p ly to le t t e r s .
It
is t h e i r a i m to m a k e t h e b a n k
o f re a l s e r v ic e to its f r i e n d s a n d
p atrons.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
*
J . H. IN G W E R S E N .: P resident
c . F. A L D E N .
L. LA M B. • C . B. M ILLS. V ice-Presidents
W . W . C O O K . C a sh ie r
J. L . B O H N S O N . A sst. Cashier
*
C . S. H A R R IS. A sst. C ashier
4 *
PEO PLES T R U S T
& SAVINGS BANK
CLINTON, IOWA
C apital
Surplus
':q j ? Vv
-
$ 3 0 0 ,0 0 0 .0 0
$ 3 0 0 ,0 0 0 .0 0
An Up-to-date, Conservative,. Commercial
and Savings Hank that Makes a Specialty of
Collections and Bank Accounts. -•
Largest
in Clinton
County
What We Do:
A c c e p t b a nk a c c o u n ts and pay
in t e r e s t on a v e r a g e b a la n c e s .
P a y 4 p e r c e n t I n t e r e s t on S a v
in g s
A c c o u n ts , c o m p o u n d e d
s e m i-a n n u a lly .
M a k e c o lle c
t i o n s as e c o n o m i c a l l y as a n y
b a n k in I o w a . A c c e p t a c c o u n t s
s u b j e c t to c h e q u e .
W e w e l c o m e a n o p p o r t u n i t y to
s e rv e you in a n y d e p a r t m e n t
o f t h e b a n k i n g b u s in e s s .
February, 1916_____________ T H E
NORTHWESTERN
63
BANKER
MERCHANTS
NATIONAL
BAN
CEDAR. RAPID.?, IOWA.
S T A T E M E N T O F C O N D IT IO N
D E C E M B E R 31, 1315
U N IT E D S T A T E S D E P O S IT A R Y
L i a b il i t i e s
R e so u rces
C a p ita l S t o c k ..............................$ 300,000.00
L o a n s a n d D i s c o u n t s ............... $4,773,618.09
S u r p lu s a n d U n d iv id e d P r o f
O v e r d r a f t s ...................................
755.75
i t s .............................
451,020.25
U. S. B o n d s a n d O th e r B o n d s
492,313.72
C i r c u l a t i o n ...................................
200,000.00
R e a l E s ta te (fo r b a n k p re m
D e p o s its ....................................... 6,729,179.87
is e s ) ...........................................
212,500.00
F u rn itu r e an d F ix tu re s . . . .
NONE
$7,680,200.12
C ash bn H a n d , d u e fro m
B a n k s a n d U. S. T r e a s u r e r 2,201,012.56
$7,680,200.12
O F F IC E R S
J o h n T. H a m ilto n , P r e s i d e n t .
P . C. F r i c k , V i c e - P r e s i d e n t .
H . N. B o y s o n , A s s i s t a n t C a s h ie r .
J a m e s E . H a m ilto n , V i c e - P r e s id e n t.
R o y C. F o ls o m , A s s i s t a n t C a s h ie r .
E d w in H . F u r r o w , C a s h ie r .
M a r k J . M y b rs, A s s i s t a n t C a s h ie r .
Hensing, vice-president; and Harry Vander Linden,
cashier. Mr. Kuhl was formerly the cashier and Mr.
Vander Linden was the assistant cashier.
The bank w^s organized in 1915 and the capital
stock is $25,000.
ALL THE OFFICERS OF THE LOVELL STATE
BANK, MONTICELLO, IOWA, ARE
RE-ELECTED.
At the nineteenth annual meeting of the stockhold
ers of the Lovell State Bank of Monticello, Iowa, the
following directors were elected for the ensuing year :
George Lovell, R. C. Stirton, J. S. Hall, C. S. Bidwell,
J. W. Doxsee, Dr. W. A. Mirick and L. W. Lovell.
The reports of the executive officers were of a satis
factory nature and showed the bank to be in a pros
perous and healthy condition. The directors declared
the usual annual dividend. The following executive
officers were re-elected : President, George L. Lovell ;
vice-president, J. S. Hall; cashier, R. C. Stirton, and
assistant cashier, L. W. Lovell.
THE
CEDAR RAPIDS NATIONAL BANK,
CEDAR RAPIDS, IOWA, COMPLETES
$20,000 REMODELING.
The Cedar Rapids National Bank, Cedar Rapids,
Iowa, of which Kent C. Ferman is the cashier, re
cently completed the remodeling of their bank at a
cost of $20,000. This includes the fitting up of a large
room on the second floor of their building, which was
necessary on account of increased business. The
transit department and the accounts of banks and
bankers are now handled in that room and they have
also added a reading room for the use of employees.
In the basement a thoroughly equipped safe deposit
department has been installed. There are two vaults
—one heavily lined with a massive door and equipped
with safe deposit boxes, while the other is a fire-proof
vault for trunk and package storage. The Cedar Rap
ids National Bank also has seven coupon rooms, tele
phone booth, one small committee room and one large
committee room for the exclusive use of their custom
ers. Entrance to the safe deposit department is from
the lobby of the main banking floor.
At the annual meeting of the stockholders it was
decided to increase the stock February 1st from $300,000 to $500,000, thereby giving the bank a capital of
$500,000 and a surplus and undivided profit of $250,000.
The usual dividend of 10 per cent was paid for the
past year and a special dividend of 36 per cent was
declared to be paid the first of February. This special
dividend is an indication of the splendid condition of
the bank.
CHARLES LYNDE CHOSEN PRESIDENT OF
MORRIS PLAN CO., DES MOINES. IOWA.
The following officers have been elected for the
Morris Plan Co., which has been established in Des
Moines: Charles E. Lynde, president; Rev. J. Ed
ward Kirbye, first vice-president; A. O. Hauge, sec-
CAPITAL AND SURPLUS
$250,000.00
ÁBLACK HAWK
NATIONAL BANK
II
ÉI
H I
D R . F . W . P O W E R S , P r e s id e n t
CH AS. W . K NQ O P, C a sh ier
H . E . RUGG, A s st. C a sh ier
rp
3 nI EH
g*!
A
II
Waterloo, Iowa ¡I
for reserve of banks is paid by this bank, which it is-enabled to
“ T h e Bank of Stability and Progress“
PENT IIN DAI AMPCQ
uC Il I UH DALABlUELO
safely pay by reason of its location in a thriving industrial center
Our organization and equipment embraces the latest and best methods of transacting all branches of the banking
business. Correspondence or a personal interview with bankers solicited.
m
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
64
THE
NORTHWESTERN
BANKER
February, 1916
THE CENTRAL STATE BANK
1
DES MOINES, IOWA
Capital $250,000.00 Surplus and Profits $250,000.00
OFFICERS
SIMON CASADY, President
H. B. HEDGE, Vice President
J. B. McDOUGAL, Ass’t Cashier
GRANT McPHERRIN, Cashier
FRANK C. ASH, Ass’t Cashier
REMEMBER OUR FOUR CARDINAL PRINCIPLES
Absolute Safety.
Courteous Treatment to All.
Consistent Liberality.
Promptness and Execution.
ond vice-president; Sidney Mandelbaum, third vicepresident, and F. C. Waterbury, treasurer.
The Des Moines Morris Plan Company is not a
bank and will not be incorporated under the banking
laws of the state but under the general act. The ar
ticles drafted by the New York corporation and rec
ommended for adoption by the local companies call
for a directory board of twenty-five members. The
local company will have a board to consist of not less
than seven and not more than twenty-five members.
IOWA NEWS AND NOTES.
John L. Large, who has been vice-president of the
First National Bank, Sioux City, Iowa, at the annual
JOHNSON COUNTY SAVINGS BANK
IOW A CITY, IOW A
C a p i t a l ............................................................$125,000.00
S u r p lu s a n d P r o f i t s .................................
117,000.00
Special facilities for handling collection s or any other
business entrusted to us.
To know us better “Be Our Customer”
OFFICERS
CH A S. SH U LER,
P resid en t
F R A N K B. Y E T T E R
C ashier
L O U IS G. B E IN ,
A ssistan t C ashier
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
i
meeting of the stockholders, held recently, was elected
president to succeed John McHugh, who now is con
nected with a New York bank. Other officers elected
were: F. A. McCornack, vice-president; H. A. Gooch,
vice-president; L. H. Henry, vice-president; J. L. MiL
chell, vice-president; O. D. Pettit, cashier, and Fritz
Fritzon, assistant cashier.
The German Bank of Walnut, Iowa, is rebuilding,
remodeling and enlarging their bank building, the
work to be completed by June 1, 1916.
The Dysart Savings Bank, Dysart, Iowa, held their
annual meeting recently. All the old directors were
re-elected. H. P. Jensen was re-elected as president;
Ervin Moeller, cashier; John Marson, assistant cash
ier, and Walter Moeller, bookkeeper.
The Exchange Bank of De Soto, Iowa, has pur
chased and taken over the De Soto Savings Bank of
that place. These two banks will be consolidated un
der the title of the De Soto Savings Bank.
The Citizens Bank of Pleasantville, Iowa, held its
annual election of officers recently and Mr. B. F.
Heiny, who for several years has so efficiently acted
as cashier, has been honored by election to the presi
dent’s chair. Chester L. Gose has been chosen as
cashier.
Capital Stock
$150,000.00
Surplus
150,000.00
Undivided Profits 100,000.00
W . H. GEHRM ANN,
V ice-P resid ent
P. T . W A L S H ,
V ice-P resid en t
Ì
W e invite the business
of banks, bankers and
m e r c h a n ts d e s i r i n g
prompt, efficient ana
satisfactory service.
THE
F e b ru a ry , 1916
N O R T H W E S T E R N
65
BANKER
Davenport Savings Bank
D A V E N P O R T , IO W A
OFFICERS
JOHN F. DOW, President
AUG. E. STEFFEN, Vice-President
OTTO HILL, Cashier
S. BLACKMAN, Ass't Cashier
$ 300,000.00
420,000.00
4,200,000.00
Capital
Undivided Profits
Deposits
:
:
DIRECTORS
:
P e r C ent In te re s t P aid on D e
posits: M oney L oaned on R eal
E state S ecurity in th e S tate of Iow a.
4
:
J. H. R U H L
M. D. PETER SEN
A. E. ST E F F E N
THEO. K R A BBEN H O EFT
J. F. DOW
W. H. G E H R M A N N
W. H. W ILSON
OTTO H ILL
JNO. W. GILCHRIST
T h e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e C iti
ze n s S a v in g s B an k , A n ita , Io w a , w a s h eld re cen tly , a t
w h ich tim e th e old officers a n d d ire c to rs w e re all re
elected.
A t th e re g u la r a n n u a l m e e tin g s of th e F a rm e rs an d
C itiz e n s an d F ir s t N a tio n a l B an k s of D e W itt, Io w a,
few c h a n g es in th e p e rso n n e l of th e officers w ere m ade.
T h e p a s t y e a r h a s b een a v e ry su cc essfu l one for th e
b a n k s in D e W itt.
T h e O m a h a N a tio n a l B an k , O m ah a , N eb., h as been
a p p ro v e d as re s e rv e a g e n t fo r th e F ir s t N a tio n a l B ank,
A d a ir, Io w a .
T h e L iv e S to c k E x c h a n g e N a tio n a l B ank, C hicago,
111., h as b een a p p ro v e d as re se rv e a g e n t fo r th e H a rla n
N a tio n a l B an k , H a rla n , Io w a .
cers an d d ire c to rs of th e b a n k w e re re -elec te d fo r th e
en su in g y e a r a n d a d iv id en d of 7 p e r c e n t w as de
clared.
S io u x C ity, Io w a , w ill h av e a n ew b a n k w ith $75,000
cap ita l to be k n o w n as th e C o m m o n w ealth T r u s t an d
S av in g s B ank. W . S. S n y d e r is p re s id e n t a n d A. M .
C onner, cash ier.
T h e M ec h an ics a n d M e ta ls N a tio n a l B ank, N ew
Y o rk , h a s b een a p p ro v e d as re se rv e a g e n t fo r th e F ir s t
N a tio n a l B an k , Je ffe rso n , Io w a .
T h e m achine for per
sonal use
T h e N a tio n a l B an k of th e R ep u b lic, C hicago, h as
b ee n a p p ro v e d as re s e rv e a g e n t fo r th e F ir s t N a tio n a l
B a n k of L en o x , Io w a .
B. F. Swanson Co.
C
o r o
N A
TYPEWRITER
W eight w ith case
8% lbs.
A sk for b ooklet
(Inc.)
H a rris o n E. R u sse ll, P r e s .
419 Locust St.
DES MOINES, IO W A
A t th e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e A t
la n tic N a tio n a l B an k , A tla n tic , Io w a , all th e old offi
The Des Moines National Bank
fl
D es M oines, Io w a
I
T h e policy of this bank is to cultivate helpful business relations
w ith its correspondents and to render at all times the service w hich
their needs demand and w hich our equipm ent insures.
A n expe
rience extending over thirty-four years in catering to such needs has
provided a broad understanding of the requirements in this field.
W e cordially invite a share of your business.
I
C apital an d S u rp lu s $ 900,000
R eso u rces o v e r
8,000,000
Ï
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Arthur Reynolds, President
John H. Blair, First Vice-President
John A. Cavanagh, Vice-President
C. A. Barr, Cashier
John H. Hogan, Assistant Cashier
A. J. Zwart, Assistant Cashier
I
§
66
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
The Seaboard National Bank
qf the C ity qf New York
Surplus and Profits, $2,865,000
.................. Deposits, $45,000,000
S. G. BAYNE, President
O. O. THOMPSON,
B. L. GILL.
Vice-President
Vice-President
W. K. CLEVER LEY, Cashier
L. N. DeVAUSNEY,
J. G. EMORY,
O. M. JEFFERDS,
Asst. Cashier
Asst. Cashier
Asst. Cashier
8. G. NELSON,
Vice-President
Accounts of Banks and Bankers from the Middle West Especially Solicited on most Favorable Terms
IOWA
|
fl i ii im n ii n i i iii ii i n i ii i ii i ii n m i i iii i in ii m m ii m u 11 ii h i i n h i m i ii m ii m ii i him m i i h i ii iii iiii im m n i m ii iiim i m i 1111111111111111111111111
T h e d ire c to rs of th e U n io n S a v in g s B an k, U n io n ,
Io w a , h eld th e ir a n n u a l m e e tin g re c e n tly . E . A. C orfe
w as elected a d ire c to r to fill th e v a c a n c y cau sed b y
th e d e a th of th e la te H . H . B arn e s. A n 8 p e r cen t
d iv id en d w a s d e c la red an d th e b u sin e ss of th e b a n k
d ecla red to be in th e b e s t c o n d itio n sin ce its o rg a n iz a
tion.
A t a m e e tin g of th e d ire c to rs of th e S ta te B an k of
E sth e rv ille , Io w a , th e re w a s a d iv id en d of 12 p e r c e n t
F IN D IN C ^ rH ^ R IG in ^ M
A N ^ = "
to fill a position requiring training, fidelity, and
initiative, is the business m an’s problem.
A letter to our Business Service Departm ent w hen
in need of the R IG H T M A N helps so lv e the prob
lem. Hundreds of business m en and banks are
served every year and this service is at you r co m
mand.
Cedar Rapids Business College
Cedar Rapids, Iowa
declared, an d ab o v e th is th e re is $5,000 su rp lu s. T h e
b u sin ess of th e b an k w as fo u n d in ex c ellen t co n d itio n
u n d e r C a sh ie r S m ith ’s m an ag e m en t.
C h arles E . L y n d e w as re c e n tly elected d ire c to r of
th e Io w a T r u s t a n d S av in g s B ank, D es M oines, Io w a,
a t th e ir a n n u a l m eetin g . M r. L y n d e, w h o is b u sin ess
m a n a g e r of S u ccessfu l F a rm in g , su cceed s E . T . M ere
d ith on th e b o ard .
T h e W e s t B ran c h S ta te B ank, W e s t B ran ch , Io w a,
d eclared th e ir re g u la r sem i-an n u a l d iv id en d of 4 p e r
cen t to th e sto c k h o ld e rs a t th e close of b u sin ess fo r
1915. T h e b a n k h a s o u tg ro w n its p re s e n t q u a rte rs
a n d a rra n g e m e n ts a re u n d e r w a y fo r re m o d e lin g an d
e n la rg in g th e b u ild in g .
T h e w o rk of re m o d e lin g th e W o o d e n S av in g s B ank,
C en terv ille, Io w a, is co m p leted , a n d it is no w one of
th e fin est b a n k b u ild in g s in C en terv ille. T h e e x te rio r
is of w h ite stu c c o an d te rr a c o tta , and th e in te rio r is
all new , m a h o g a n y an d m a r b le ; th e floor h a s b e e n lo w
ered an d is of tile. T h e im p ro v e m e n t co st $8,000.
A t th e a n n u a l m e e tin g of th e S ta te B an k of D ow s,
Io w a , th e old officers a n d d ire c to rs w e re re-elected
a n d $4,000 w as p asse d to th e su rp lu s fu n d an d a 20 p e r
c e n t d iv idend w as declared. In sp ite of th e u n fa v o r
able financial c o n d itio n s of th e p a s t tw e lv e m o n th s, th e
S ta te B an k h as had a m o st fa v o rab le y ear.
T h e S ta te S av in g s B an k of L am o n i, Io w a , w ill b u ild
a n ew b a n k b u ild in g in th e sp rin g . O n ac c o u n t of th e
cro w d ed co n d itio n of th e p re s e n t q u a rte rs th e d ire c to rs
h av e h ad a n ew b u ild in g in m in d fo r sev eral y ears.
The Commercial National Bank
WATERLOO, IOWA
Capital and Surplus, $ 5 0 0 ,0 0 0
OFFICERS
W. W. MILLER, President
F. C. PLATT, Vice-President
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Federal Reserve Bank of St. Louis
E. W. MILLER, Vice-President
GEO. E. LICHTY, Vice-President
H. C. SCHULTZ. Cashier
H. W. WENTE, Ass’t Cashier
T H E
F e b ru a ry , 1916
N O R T H W E S T E R N
B A N K E R
67
SECURITY NATIONAL BANK
SIOUX CITY, IOWA
Capital and Surplus $500,000
T. A . BLACK V ic e - P r e s id e n t
C. G. CUMMINS, A s s ’t C a s h ie r
W . P . MANLEY, P r e s id e n t
C. W . BRITTON, C a s h ie r
The Best of Service in Handling Collections and Accounts of Banks
T h e J o h n s o n C o u n ty S av in g s B an k , Io w a C ity, Io w a,
re -elec te d all of its officers fo r th e e n su in g y e a r an d
also d e c la re d a 5 p e r c e n t dividend. A lso th e F a rm e rs
L o a n an d T r u s t C o m p an y a n d F ir s t N a tio n a l B an k
of th e sam e p lace each d e c la red a 5 p e r c en t dividend,
th e Io w a C ity S ta te B a n k a 4 p e r ce n t, an d th e C iti
zen s S a v in g s a n d T r u s t C o m p an y d ec la red a 3 p e r c e n t
d ividend.
T h e a n n u a l m e e tin g of th e s to c k h o ld e rs of th e F a rm
ers a n d M e rc h a n ts S ta te B an k , C o lu m b u s Ju n c tio n ,
Io w a , w a s h eld re c e n tly . T h e re p o rt of C ash ier O. M.
C av in w a s v e ry s a tis fa c to ry to th e sto c k h o ld ers, sh o w
in g as it did a n in c re a se in p ro fits o v e r th e pro fits of
th e b a n k la s t y e a r, w h ich h a d b een an u n u su a lly su c
cessfu l y e a r fo r th is b an k . A fte r th e re p o rt h ad been
re a d a n d ac c e p te d th e su m of $10,000 w a s ta k e n from
th e p ro fits an d tra n s f e rre d to th e su rp lu s fund, th u s
m a k in g th e s u rp lu s n o w $40,000, o r eq u al to th e cap i
ta l stock.
A t a m e e tin g of th e g e n e ra l co n v e n tio n co m m ittee
of th e local b a n k e rs a t th e I r v in g H o te l, W a te rlo o ,
h eld re c e n tly , T u e s d a y a n d W e d n e s d a y , J u n e 20th an d
21st, w e re selec ted as th e p ro b a b le d a te s fo r th e com -
Peoples Savings Bank
DES MOINES, IOWA
ESTABLISHED 1890
CAPITAL (Paid in) $50,000.00
CAPITAL (Earned) 50,000.00 $ 100,000.00
SURPLUSandPROFITS (Earned) 190,000.00
DEPOSITS
over 2,700,000.00
C. H . M A R T IN , P re s id e n t
F R A N K P. F L Y N N
E. A. S L IN IN G E R
V ic e -P re sid e n t
C ash ier
CARL W . M ESM ER
A s s is ta n t C ash ier
Accounts of Banks and Bankers Solicited
in g co n v e n tio n of th e Io w a B a n k e rs A sso ciatio n , w h ich
is to b e h eld in W a te rlo o th is y ea r.
A rth u r Y o u n g h as ac cep ted a p o sitio n in th e F a rm
ers S ta te B an k of Je su p , Io w a.
IOWA NATIONAL BANK
FLEM ING BUILDING, D ES M OINES, IOWA
STATEMENT DE> EMBER 31, 1915
LIABILITIES.
C a p it a l S to c k .............................................
$1,000,000.00
S u r p l u s a n d P r o f i t s ................................................
580,038.43
C i r c u l a t i o n ....................................................................
237,100.00
D iv id e n d s U n p a id .....................................................
34,235.00
D e p o s its ...........................
7,273,043.85
Largest National Bank
in Iowa. Makes a sp ecial
ty of farm loans for its
correspondents.
Write
for rates.
Best service.
$9,124,417.28
RESOURCES.
L o a n s ...........................
$6,371,771.27
U n ite d S t a t e s B o n d s ...........................
300,000.00
F e d e r a l R e s e r v e B a n k S t o c k . ; ..........................
39,000.00
5,000.00
F u r n i t u r e a n d F i x t u r e s .........................................
O v e r d r a f t s ....................................................
3,435.02
C a s h a n d E x c h a n g e ................................................ 2,405,210.99
$9,124,417.28
Officers
H O M E R A. M IL L E R , Prea.
R. L. C H A S E , J R ., Aas«. C a sh la r
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Federal Reserve Bank of St. Louis
J-
H. S . B U T L E R , V ic e -P re s.
C . H S T E P H E N S O N , A sst. C a sh ie r
H. T . B L A C K B U R N , C a sh ie r
J A M E S F. H A R T , A sst. C a sh ier
68
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
jHiiiiiiiiiiMiiiiiiimiiiiiiHiiiiiiHifiimiiimiMiiiiiiiMiiiiiiiimHiiiiiiiiiiitiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiimmiiiiiiiimiimiimiimi
|
IOWA
n iH iiiiiiiiiiiiiiiiiiii im iii iim m iiiii iiii iiii iiiii iiim im iii iiim iiti m m iii iiim iiiii im ii iiiii iiii m iii iiiii iiii m iim i iM ii iiiii m iii iiiii iiin
T h e S ta te B an k of S w ea C ity, Io w a , w ill e re c t a new
hom e in th e sp rin g . D efin ite a c tio n w a s ta k e n a t th e
d ire c to rs’ m e e tin g h eld re c e n tly . A rra n g e m e n ts are
u n d e r w a y to s ta r t b u ild in g ju s t as soon as th e w e a th
e r p e rm its in th e sp rin g , if possible.
The Worn Trousers.
E li h u R o o t, f o r m e r s e n a t o r f r o m N e w Y o rk ,
s m ile d t h e o t h e r e v e n in g , w h e n r e f e r e n c e a t
a d i n n e r w a s m a d e t o c h u r c h a tte n d a n c e . H e
s a id h e w a s r e m in d e d o f t h e p i e t y o f a c e r t a i n
hobo.
O n e a f t e r n o o n a c a s t d o w n h o b o ti m i d ly
k n o c k e d on th e d o o r o f a s u b u rb a n hom e, a n d
w h e n th e o w n e r o f th e h o u se a p p e a re d he
m e e k ly a s k e d f o r b r e a d .
“I s e e ,” r e s p o n d e d t h e p r o p r i e t o r , c r i t i c a l l y
s i z in g u p t h e tr a m p , “t h a t t h e k n e e s o f y o u r
t r o u s e r s a r e b a d ly w o r n .”
“Y es, s i r , ” a n s w e r e d t h e h o b o , in a s u b d u e d
v o ic e .
“I w o r e th e m t h r o u g h k n e e l i n g in
p r a y e r .”
A fe w m in u te s l a te r th e tr a m p w a s h a n d e d
h is f o d d e r, a n d , w i t h m a n y t h a n k s , h e t u r n e d
a n d s t a r t e d t o w a r d t h e g a te .
“J u s t a m o m e n t,” e x c la im e d t h e p r o p r i e t o r .
“I n o tic e t h a t y o u r t r o u s e r s a r e a ls o p r e t t y
b a d ly w o r n in t h e b a c k .”
“Y es, s i r ,” r e s p o n d e d t h e t r a m p , s t e e r i n g f o r
th e g a te .
“I d id t h a t b a c k s l i d in g ." — P h i l a
d e l p h i a T e le g r a p h .
Saits and e x tra tro u se rs $25, $30, $35 and up.
N IC O IX The Tailor
• W~ Jerrems’ Sons •
23 Years at 502 Walnut
DES MOINES, IOWA
T h e F ir s t S ta te B ank, G reene, Io w a , h as ju s t co m
p leted a fo rty -fo o t a d d itio n to th e ir b u ild in g . T h e
first floor w ill be occu p ied b y th e b an k , th u s e n la rg
in g th e floor space. T h e seco n d s to ry w ill b e u sed fo r
offices. A la rg e n ew v a u lt w a s b u ilt a n d h a s b een
fitted up w ith 200 sa fe ty d e p o sit boxes.
W h a t h as b een th e F a rm e rs S ta te B an k of P a u llin a ,
Io w a, is n o w th e F ir s t N a tio n a l. T h e y o p en ed u p re
c e n tly u n d e r th e ir n e w ch a rte r.
A t th e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e
F a rm e rs S av in g s B an k , K e y sto n e , Io w a , h eld re c e n tly ,
th a t in s titu tio n p laced its n am e on th e S ta te H o n o r
R oll of b a n k s w h o se su rp lu s eq u als its ca p ita l stock.
T h e s ta te m e n t of th is p o p u la r in s titu tio n n o w sh o w s
a ca p ita l sto ck of $15,000 a n d a su rp lu s of th e sam e.
T h is sh o w s a g a in in su rp lu s of $2,500 d u rin g th e p a s t
y ear. In a d d itio n to th is a re g u la r 6 p e r c e n t d iv id en d
on th e ca p ita l sto c k w a s d eclared a n d paid. T h e fol
lo w in g officers w e re elected fo r th e e n su in g y e a r:
P re s id e n t, H e n ry J. M e y e r; v ice-p resid en t, H . N . J a m
m e r; cash ier, W . C. H a m a n n ; a s s is ta n t cash ier, Geo.
H a rd e r.
T h e sto c k h o ld e rs of th e D e lh i S av in g s B ank, D elhi,
Io w a , h eld th e ir a n n u a l m e e tin g re c e n tly . T h e re
p o rts w e re u n an im o u sly ap p ro v ed . T h e y e a r’s b u si
ness p ro v e d to be one of th e b e s t a n d m o st sa tis fa c to ry
in th e h is to ry of th e in s titu tio n . E . R. S to n e w as
elected p re sid e n t ; J. E . S w in b u rn e, v ice-p resid en t, an d
J . O. S loan, cash ier.
A District Agency Open in one of the Most Prosperous
Sections of the United States. W ill Consider Applica
tions From First-class Men Only.
BANKERS LIFE CO.
DES MOINES, IO W A
C. H. EIGHMEY, P resident
C. J . COLLIER, Vice-President
B. F. BL0CKLINGER, Vice-Pres.
H. A. K0ESTER, Asst. Cashier
Capital, - - - - $200,000
Surplus & Profits, $180,000
First National
Bank
DUBUQUE, IOWA
A ccounts of B ankers Solicited.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
W rite Us fo r T erm s
E.
T . M ered ith , p u b lis h e r of S u ccessfu l F a rm in g ,
D es M oines, Io w a , h as b een re -elec te d as a d ire c to r
of th e F e d e ra l R eserv e B an k of C hicago fo r a n o th e r
te rm of th re e y ea rs.
T h e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e S ta te
B an k of E arlv ille, Io w a , w a s held re c e n tly an d th e fol
lo w in g officers e le c te d : P re sid e n t, C. M. L a x s o n ;
v ice-p resid en t, E d w a rd B isg ro v e ; cash ier, D . F . L ax son.
A n ew b a n k k n o w n as th e Irv in g to n S av in g s B an k
h as been o rg a n iz ed a t Irv in g to n , Io w a.
E . G. S im pson, ca sh ie r of th e F ir s t N a tio n a l B an k
a t W illia m s, Io w a , sold his sto ck an d o th e r in te re sts
in th e b an k to L. E . P o n d of Jefferso n . T h o rn to n G.
S im p so n h a s also re tire d as a s s is ta n t ca sh ie r a n d b o o k
k ee p e r a n d w ill be succeeded b y M iss R u th M a rtin
son, w h o fo rm e rly occupied th e sam e p o sitio n in th e
bank.
# T h e d ire c to rs of th e B u rn sid e S a v in g s B an k , B u rn
side, Io w a , held th e ir first m e e tin g re c e n tly . A full
a tte n d a n c e w a s p re s e n t an d th e d ire c to rs w e re s u r
p rised to le a rn of th e la rg e a m o u n t of b u sin e ss done
b y th e cash ier, M rs. Cox. A fte r o n ly th ir ty d a y s’ b u si
n ess th e b a n k sh o w ed a to ta l b u sin e ss of o v e r $21,000,
w h ich is c e rta in ly a v e ry c re d ita b le sh o w in g .
T H E
F e b ru a ry , 1916
N O R T H W E S T E R N
69
B A N K E R
TH E GERMAN SAVINGS BANK
O F D A V E N P O R T , IOWA
W ith ad e q u a te e q u ip m e n t a n d ex c ep tio n a l
facllltle* fo r h an d lin g b u sin ess in e v e ry d e p a rt
m e n t of b a n k in g . T he G erm an S avings B an k is
in a position to give its p a tro n s th e b est serv ic e.
I t you c o n tem p late m a k in g a ch a n g e in y o u r
b a n k in g connections, o r th in k of o p en in g a n ew
ac co u n t, w e w o u ld b e p le ased to co n fe r w ith
y o u in p e rs o n o r by le tte r .
$ 600,000.00
Capital Stock
500,000.00
Surplus
- - 338,000.00
Undivided Profits 11,000,000.00
Deposits Over
Commercial Accounts
Savings Deposits
OFFICERS
CHAS. N . VOSS. Pres.
H. O. SEIFFERT, Vice-Pres.
ED. KAUFMANN, Cashier
OFFICERS
F. C. KROEGER, Ass’t Cashier
O T T O RIECHE, Ass’t Cashier
A t a m e etin g - of th e local c o m m itte e in ch a rg e of th e
a rra n g e m e n ts fo r th e M o rris p la n b an k , held re cen tly ,
it w a s d ecid ed to m a k e th e ca p ita l sto c k $100,000 in
s te a d of $75,000 as w a s first p lan n ed . U p o n co n sid
e ra tio n it w a s th o u g h t th a t th e la tte r su m w o u ld be
to o sm all to ta k e ca re of th e b u sin e ss of a c ity th e size
of D es M oines.
T h e n e w h o m e of th e S to ry C o u n ty B ank, A m es,
w h ich is to b e lo c a te d in th e s o u th e a s t c o rn e r of th e
n e w h o te l b u ild in g , w ill be a m odel of co n v en ien ce an d
w o rk m a n sh ip a n d o ne of th e m o st h a n d so m e b a n k in g
ro o m s in th e sta te .
D o n a ld S c o tt, w h o h a s b een a s s is ta n t ca sh ie r an d
b o o k k e e p e r in th e T e r ril S a v in g s B an k , T e rril, Io w a,
since th e in s titu tio n w a s re o rg a n iz e d la s t y ea r, h as
re sig n e d h is p o sitio n a n d w ill be succeeded b y P a u l
Jo h n so n .
T h e sto c k h o ld e rs of th e S h eld ah l S av in g s B ank,
S h eld ah l, Io w a , held th e ir a n n u a l m e e tin g re c e n tly
a n d th e o n ly ch a n g e m ad e in th e p e rso n n e l of th e
b a n k ’s officers fo r th e co m in g y e a r w as th a t O . R. P e t
erso n w a s elected as a d ire c to r in o rd e r to fill th e v a
cancy cau sed b y th e re sig n a tio n of W a lte r F rick .
H . M. B illsb o ro u g h , c a sh ie r of th e F a rm e rs S ay in g s
B ank, C e n te r P o in t, Io w a , h a s re sig n e d h is p o sitio n ,
sold h is sto ck in th e b a n k an d also his re sid e n ce on
F ra n k lin s tre e t an d w ill leav e C e n te r P o in t fo r o th e r
fields. F . G. B ry n e r w ill ta k e h is p lace in th e b an k .
Located in the grain and live stock center of Iow a, having unexcelled direct
connection s in the state
T H E CED A R RA PID S N A T IO N A L BA N K
is qualified to offer com plete service for the handling of Iow a business
The Cedar Rapids National Bank
Capital $500,000.00
Cedar Rapids, Iowa
Surplus and Profits $250,000.00
39 YEARS
Of C on tin u ou s» C o n s e r v a t iv e a n d S u c c e s s f u l B a n k in g
OFFICERS
R A L P H V A N V E C H T E N , P r e s id e n t
K E N T C. F E R M A N , C a sh ier
GEO. B. DO UG LAS, V ic e - P r e s id e n t
H O M E R P IT N E R , A s st. C a sh ier
E D H . SM IT H , V ic e - P r e s id e n t
M A R T IN N EW C O M ER , A s st. C a sh ier
G L E N N M. A V E R IL L , V ic e - P r e s id e n t
A N N A R . SMOUiSE, A u d ito r
CHAS. C. K U N IN G , C h ief C lerk
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Federal Reserve Bank of St. Louis
70
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
Scandinavian American National Bank
MINNEAPOLIS
Capital $1,000,000.00
Surplus $200,000.00
Officers
A. U E L A N D , V i c e - P r e s i d e n t
E D G A R L . M A T T SO N , V i c e - P r e s i d e n t
GEO. P . O R D E , V ic e -P re s id e n t
C H A S. B . M IL L S , V i c e - P r e s i d e n t
H . R . LY O N , P r e s i d e n t
E . V. B L O O M Q U IS T , C a s h ie r
A. E . L IN D H J E M , A s s t. C a s h ie r
T R Y G V E OAS, A s s t. C a s h ie r
W . R . M U R R A Y , A s s t. C a s h ie r
"We have exceptional facilities for handling the accounts and business of hanks. Our
list of correspondents is growing daily. W e w ould like to see your name on our books.
M IN N E S O T A
fiiiiiiiiiimiiiiiimiiiimiiiiimiiimiimmiiiiiiimimiiiiimiimiimiiiiimiiiiiimmiiiiiiimmmiimiiiiiiiiiiimiiniiiimmiiiiiiiiiin?
M. ROY KNAUFT ELECTED CASHIER OF THE
MERCHANTS NATIONAL BANK,
ST. PAUL.
M. R o y K n a u ft h a s b een elected ca sh ie r of th e M er
c h a n ts N a tio n a l B an k of St. P a u l to su cceed H . W .
P a rk e r, re sig n e d .
E d w a rd A . K o n a n tz , lu m b e rm a n , su cceed s R. C.
Jefferso n , re tire d , on th e M e rc h a n ts N a tio n a l B an k
b o ard .
THE FIRST NATIONAL BANK, ST. PAUL, IN
THEIR CAPACIOUS NEW HOME.
T h e F ir s t N a tio n a l B an k of S t. P a u l, M inn., are
n o w c o m fo rta b ly lo cate d in th e ir b e a u tifu l n ew b u ild
ing. T h e m ain b a n k in g room , w h ich is 145 b y 176
feet, is one of th e la rg e s t in th e co u n try .
A ch ain of tw e n ty -tw o cages, m ad e of solid b ro n z e
an d o rn a m e n te d b lack w ro u g h t iron, su rro u n d th e
room a t th e th re e sides. T h e re a re six p riv a te offices
fo r c o n su lta tio n s an d fo r sen io r officers, th re e a t each
side of th e m ain d o o rw ay .
A ll of th e w o o d w o rk in th e b a n k p o rtio n of th e b u ild
ing, in c lu d in g w o rk in g desk s in th e cages, is of M exi
can m ah o g an y , of a h eav y , d a rk v a rie ty . A t th e fa r
en d of th e b a n k in g room , d ire c tly o p p o site th e m ain
e n tra n ce, b ack of th e cages, a re th re e v a u lts, one for
books a n d reco rd s, a n o th e r fo r checks an d th e th ird
fo r cu rren c y .
T h e F ir s t N a tio n a l B an k h as m ad e a v ery re m a rk
able g ro w th in d ep o sits, w h ich a tte s ts to th e p ro sp e r
ity of th e in stitu tio n . In A p ril, 1864, th e d ep o sits
a m o u n te d to $245,120,34; D ecem b er, 1912 ( F ir s t N a
tio n a l b efo re co n so lid atio n w ith th e S econd N a tio n a l),
$13,559,603.57; J a n u a ry , 1913 ( F ir s t N a tio n a l a fte r
c o n so lid a tio n ), $17,384,562.11, a n d a t th e close of b u si
ness D e c e m b e r 31, 1915, th e d ep o sits reach ed th e
sp len d id to ta l of $48,356,869.25.
THE FERGUS FALLS NATIONAL BANK, FER
GUS FALLS, MINN., ON THE .
“ROLL OF HONOR.”
M. R. KNAUFT,
Cashier,
Merchants National Bank, St. Paul, Minn.
M r. K n a u ft w a s a s s is ta n t c a sh ie r a n d w a s also a s
s is ta n t c a s h ie r of th e N a tio n a l G e rm a n -A m e rican B an k
b efo re it c o n so lid a te d w ith th e M e rc h a n ts N atio n al.
H e is w ell k n o w n th ro u g h o u t th e N o rth w e s t.
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Federal Reserve Bank of St. Louis
T h e F e rg u s F a lls N a tio n a l B an k of F e rg u s F alls,
M inn., a c c o rd in g to its la s t sta te m e n t, h as a ca p ita l
of $70,000; s u rp lu s an d u n d iv id ed p ro fits of $77,016.33;
c irc u latio n , $70,000, an d d ep o sits, $1,056,667.34. T h is
p laces th e b a n k in th e “ R oll of H o n o r” class.
T h e officers a r e : J o se p h U llan d , p re s id e n t; E . H .
R ich, v ic e -p re sid e n t; F ra n k J. E v a n s, cash ier, an d
H e n ry G. D ah l, a s s is ta n t cash ier.
ALFRED HOEL RESIGNS AS VICE-PRESI
DENT OF THE FIRST NATIONAL BANK,
BIWABIK, MINN.
A lfred H o el h as re sig n e d from th,e v ice-p resid en cy
of th e F ir s t N a tio n a l B an k of B iw ab ik , M inn. H e h as
also sev e red his co n n e ctio n s w ith th e b a n k a t A u ro ra ,
b u t w ill re ta in his in te re s t in th e b a n k a t G ilb ert.
F e b ru a ry , 1916
T H E
N O R T H W E S T E R N
B A N K E R
71
THE FIRST NATIONAL BANK OF ST. PAUL
N E W Q U A R TER S OF T H E
“OLDEST BANK IN MINNESOTA”
M r. H o e l h a s b een v ic e -p re sid e n t of th e B iw abik
b a n k fo r th e p a s t th re e y e a rs an d w a s p re v io u sly ca sh
ier of th e F ir s t N a tio n a l B an k of G ilb ert, w h e re he
w a s elected v ic e -p re sid e n t s h o rtly b efo re leaving.
A. C. DENT HEAD OF BOND DEPARTMENT OF
MERCHANTS TRUST AND SAVINGS
BANK, ST. PAUL.
A. C. D e n t, of C. O . K a lm a n & Co., h as b ecom e th e
h ea d of th e M e rc h a n ts T r u s t an d S a v in g s B ank, St.
P au l. H e h as sev e red h is c o n n e ctio n w ith C. O. K a l
m an & Co. a n d w ill d e v o te h is tim e e x c lu siv ely to th e
b u sin e ss of th e t r u s t co m p an y .
M r. D e n t e n te re d th e em p lo y of th e S e c u rity N a tio n
al B an k , M in n eap o lis, in 1906 an d in A u g u st, 1907,
b ec am e co n n e c te d w ith th e b o n d an d fa rm m o rtg a g e
firm of W e lls & D ick e y Co. I n M ay, 1913, h e a n d C.
O . K a lm a n a n d M. W . M a tte so n fo u n d ed th e firm of
C. O. K a lm a n & Co.
CHAS. A. CHAPMAN ELECTED PRESIDENT
OF THE MANKATO SAVINGS BANK,
MANKATO, MINN.
C h arles A . C h a p m a n h a s b een e lec ted p re sid e n t of
th e M a n k a to S a v in g s B an k of M a n k a to , M inn., to su c
ceed th e la te G eo rg e E . B re tt.
B e n ja m in T a y lo r su cceed s M r. C h ap m an as vicep re s id e n t an d W . W . D a v is w a s elected tre a s u re r.
T h e a n n u a l d iv id ed of 4 p e r c e n t w a s d eclared.
W. W. SMITH BUYS INTEREST IN FARMERS
STATE BANK, ST. CLOUD, MINN.
W . W . S m ith , fo r th e p a s t e ig h te e n y e a rs a d ire c to r
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Federal Reserve Bank of St. Louis
a n d officer of th e F ir s t N a tio n a l B an k , St. C loud,
M inn., h as p u rc h a se d an in te re s t in th e F a rm e rs S ta te
B an k a n d h as b een elected v ice-p resid en t.
C. D.
S chw ab h as b een re-elected p re sid e n t an d A . W . C or
w in cashier. M r. S m ith w ill assu m e d irectio n of th e
a d m in istra tiv e affairs of th e bank.
T h e F a rm e rs S ta te B an k w as o rg a n iz ed b y P re s id e n t
S ch w ab in 1911 a n d th e g ro w th of th e b a n k h as been
c o n s ta n t ev e r since.
CARL ZAPFFE PROMOTED FROM VICEPRESIDENT TO PRESIDENT OF BRAINERD STATE BANK, MINN.
C arl Z apffe, w h o h as b een th e v ic e -p re sid e n t of th e
B ra in e rd S ta te B an k o f B rain erd , M inn., h as been
elected p re sid e n t to su cceed L. M. D e P u e , w h o goes
to M in n eap o lis to en g a g e in th e lan d b u sin ess.
O. H : S co tt, of W a d e n a , tra v e lin g fo r th e Je n n y S em p le-H ill Co., w a s elected v ice-p resid en t.
H . E . K u n d e rt re m a in s as c a sh ie r a n d T . R . D w y e r
a s s is ta n t cashier.
FARMERS STATE BANK, MOOSE LAKE,
MINN., OPENS FOR BUSINESS.
T h e F a rm e rs S ta te B an k of M oose L ak e, M inn., h as
o p en ed fo r b u sin e ss in th e ir n ew q u a rte rs . T h is b an k
is M oose L a k e ’s n e w e st b a n k in g in stitu tio n .
T h e b u ild in g is b u ilt of b rick , th e fro n t finished in
a d a rk red p re sse d brick , in th e ro u g h , trim m e d w ith
sto n e. T h e b a n k in g room p ro p e r occupies th e c e n te r
of th e room a n d is c o n v e n ie n tly a rra n g e d , allo w in g a
la rg e lo b b y fo r th e public. T h e in te rio r of th e b u ild in g
is finished in b irch s ta in e d to a m a h o g a n y color,
72
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
MINNEAPOLIS
First and Security National Bank
Bankers w ho require the services of a thoroughly progressive y et sound and conservative
institution w ill appreciate the service w e render. Correspondence invited.
First and Security National Bank
MINNEAPOLIS
Resources $65,000,000.00
............................................................................................................ i n ........
|
M IN N E S O T A
GiiimiimmimiiiiiiiiimmimimimiimiiimmiiimimiiiimiiiiimmiimiiimiiiimiimmiiimiiiiimimiiiiiiiimmiiiiiiiiiimmiiT
th e fix tu res a re also of m a h o g a n y finish, w h ile th e
w a lls a re tin te d to h a rm o n iz e w ith th e fu rn ish in g s.
T h e officers a r e : F . S. G rah am , p re s id e n t; P . D.
E a rly , v ic e -p re s id e n t; W a if red W e s th o lm , cash ier, an d
J. W . L in d m a rk , a s s is ta n t cash ier.
BANK OF HUTCHINSON, MINN., BECOMES
THE FARMERS AND MERCHANTS
STATE BANK.
T h e B an k of H u tc h in s o n , M inn., h a s c h a n g ed its
n a m e to th e F a rm e rs a n d M e rc h a n ts S ta te B ank, I n
co rp o ra te d . T h e c a p ita l of th e b a n k h a s b een in
crease d fro m $35,000 to $50,000.
T h e b a n k w a s o rg a n iz e d in 1892 an d h as alw a y s been
a s tro n g in s titu tio n .
BEMIDJI, MINN., BANKS TO LOAN MONEY
FOR “PAY-UP WEEK.”
B em id ji, M inn., th ro u g h its M e rc h a n ts A sso ciatio n ,
w ill n o t o n ly jo in in th e n a tio n a l “p ay -u p w eek ,” F e b
ru a ry 2 1 st to 26th, b u t its b a n k s h av e ag re ed to loan
m o n ey th a t all p e rso n s m ay b a lan c e th e ir a c c o u n ts a t
th a t tim e.
P re s id e n t B a rk e r, of th e M e rc h a n ts ’ A sso ciatio n , has
a p p o in te d W . L. B ro o k s, H . C. B a e r a n d R . F. S chum a k e r a co m m itte e of b a n k e rs to p re s e n t a definite
p ro p o sitio n .
B u sin e ss m en ex p e c t th a t o b lig a tio n s to ta lin g m o re
th a n $200,000 w ill be paid.
FLOOR MANAGER APPOINTED FOR FIRST
. NATIONAL BANK AND NORTHWEST
ERN TRUST CO., ST. PAUL.
C h arles Griffin, s u p e rin te n d e n t of serv ice of th e
G lacier N a tio n a l P a rk h o tels, h as b een a p p o in te d floor
m a n a g e r of th e F ir s t N a tio n a l B an k an d th e N o rth
w e ste rn T r u s t C o m p an y of S t. P au l.
T h e p o sitio n o ccu p ied b y M r. G riffin is n ew in b a n k
in g in S t. P a u l. H e serv es as an a d v is e r to p a tro n s
w h o do n o t u n d e rs ta n d h o w to proceed.
CURTIS B. KELLAR, ALBERT LEA BANKER,
DIES.
C u rtis B. K e lla r, th e o ld e st b a n k e r in th e s ta te of
M in n e so ta in p o in t of service, died n o t lo n g ago;
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
M r. K e lla r w as c a sh ie r of th e first b a n k th a t w as
o rg a n iz e d in A lb e rt L ea an d th e first on e in th e co u n ty .
H e w o rk e d fa ith fu lly an d a t th e tim e of his d e a th w as
p re sid e n t of th e F ir s t N a tio n a l B an k of A lb e rt L ea,
a b a n k w ith a ca p ita l an d s u rp lu s of $150,000 an d
a sse ts of o v er $1,000,000. H e h a d b een in c o n tin u al
b a n k in g serv ice fo r fo rty -e ig h t y ea rs.
CITIZENS STATE BANK, FULDA, MINN., IN
CREASES SURPLUS TO $20,000.
A t th e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e
C itizen s S ta te B an k of F u ld a , M inn., th e b a n k w a s
fo u n d to b e in a v e ry flo u rish in g co n d itio n , a s u b s ta n
tial d iv id en d w a s p aid an d th e su rp lu s in cre ased to
$ 20,000.
T h e m a tte r of p ro v id in g m o re room fo r th e co n
s ta n tly in c re a sin g b u sin ess w as d iscu ssed a n d re su lt
w as a u n a n im o u s v o te to ex te n d th e p re s e n t b u ild in g
to co v er th e e n tire lot. A b u ild in g co m m itte e w as ap
p o in ted an d th e w o rk of b u ild in g a n d re a rra n g in g w ill
be b eg u n as soon as w e a th e r co n d itio n s p e rm it.
T h e sam e b o a rd of d ire c to rs w as re-elected, w h o in
tu rn re-elected th e sam e officers fo r th e en su in g y ear.
MINNESOTA NEWS AND NOTES.
T h e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e S ta te
B an k of Y o u n g A m erica, M inn., w as h eld re cen tly .
T h e fo llo w in g officers w e re e le c te d : A u g . F . T ru w e ,
p re s id e n t; H e n ry L. S im ons, v ic e -p re sid e n t; F . S.
M ay er, cash ier, an d H e n ry J. S ch m itz, bo o k k eep er.
L. F. N elson, w h o h a s b een co n n ected w ith th e C iti
zens S ta te B ank, T ra c y , M inn., fo r th e p a s t six y e a rs
as a s s is ta n t cash ier, h as re sig n e d his p o sitio n an d re
tire d from th e b an k . M r. O sc a r L. Jo h n so n , of B ra n
don, M inn., ta k e s M r. N e lso n ’s place. M r. Jo h n so n
w as fo rm e rly ca sh ie r of th e S ta te B an k a t E a g le L ak e,
M inn.
T h e sto c k h o ld e rs of th e S ta te B an k of S leep y E y e,
M inn., held th e ir a n n u a l m e e tin g re c e n tly a n d re
elected th e fo llo w in g officers: H a n s M o, p re s id e n t;
E d F . B erk n e r, v ic e -p re sid e n t; Jo s. H e rz o g , c a s h ie r;
E. P . S ch m itz, a s s is ta n t cash ier. I t w as w ith a feel
in g of s e c u rity a n d p le a su re th a t th e sto ck h o ld ers
v iew ed th e y e a r’s w o rk of th e b an k . T h e b u sin ess h ad
in cre ased ev e ry m o n th , w h ich sh o w ed a v e ry sa tisfa c
to ry d iv id en d to th e sto ck h o ld ers.
G eorge E . M u n k el w a s elected p re s id e n t; A rth u r
M u lv ey , v ice-p resid en t, an d J. Q . M ac k in to sh , ca sh ie r
of th e F a rm e rs an d M e rc h a n ts S ta te B an k of S tillw a
te r, M inn., a t a m e e tin g of th e d ire c to rs of th e b an k .
T H E
F e b ru a ry , 1916
N O R T H W E S T E R N
73
B A N K E R
Great Western Accident Insurance Company
DES MOINES, IOWA
Iow a’s L argest and Strongest H ealth and Accident Company
LIABILITIES.
Reserve for Re-Insurance......................................... . 9 93,601.00
Reserve for Losses...........................................................
21,853.52
Reserve for Sundries.........................................................
8,972.77
Surplus to Policyholders
(Including Capital Stock «100,000.00)-------- 138,210.90
RESOURCES.
Approved Securities Deposited with Insurance
Departments ......................
$207,555.05
Cash on Deposit and In Office....................................... 20,486.21
Interest Accrued..................................................................
4,987.80
Premiums in Course of Collection.............................. 20,4X8.97
Holding Account. ......................................................
190.22
T o t a l .................................................................................. $262,638.25
Total Admitted A ssets.............................................. «262,638.25
NO CLAIMS DUE AND UNPAID
W rite to the Home Office fo r a Bank Agency P roposition o r Appointment as Collector fo r Y our Community.
C. S. S tre m e l is p re s id e n t of th e N o rth Side S ta te
B ank, M in n eap o lis, succeeding- H e rm a n J. D a h n . J o h n
R. P e te rs o n is a s s is ta n t c a sh ie r of th e C am den P a rk
S ta te B an k , M in n eap o lis. T h e s e tw o official ch an g es
w e re m ad e a t th e a n n u a l m e e tin g s of th e tw o in s titu
tio n s h eld re c e n tly . T h e N o rth S ide S ta te B an k r e
elected all th e o th e r officers a n d d ire c to rs an d de
c lared a d iv id en d a t th e r a te of 6 p e r c e n t an n u a lly .
T h e C am d en P a rk S ta te B an k m ad e no o th e r changes,
A. M . H o v la n d b e in g re -elec te d p re s id e n t an d all o th
e r officers an d d ire c to rs re tu rn e d . A d iv id en d w as d e
clare on th e b asis of 8 p e r c e n t a y ea r.
T h e fo rty b a n k s in S te a rn s c o u n ty h a d to ta l d ep o s
its of $10,598,483.76 w h e n th e r e p o r ts w e re m ad e to
th e s ta te an d n a tio n a l g o v e rn m e n t in re sp o n se to th e
call issu ed re cen tly . T h e sh o w in g is b y fa r th e g re a t
est th a t h as ev e r b een m ad e b y th e financial in s titu
tio n s of th e c o u n ty an d is an in cre ase of a lm o st onete n th d u rin g th e p a s t y ear.
D e p o sits in th e n a tio n a l an d s ta te b an k s an d tr u s t
c o m p an ie s in S t. P a u l a re m o re th a n $100,000,000, th e
h ig h e s t in th e h is to ry of b a n k in g in St. P au l.
Put a Real Punch
Into Your Bank
Advertising!
Use the Interest Compelling
Carothers Long Range
W E A T H E R
F O R E C A S T S
Equal to th e 24-Hour Service
of th e U. S. W eather Bureau
PREPARED
18 DAYS
IN ADVANCE
O u r “ A g ric u ltu rists S erv ice” is now av a ila b le to o n e b a n k in a
c o m m u n ity -fo r lo b b y d isp la y a n d bi-w eekly d is trib u tio n to a sele cted
lis t of p ro sp ectiv e cu sto m ers w i t h i t s c o m p l i m e n t s .
B ea rin g a n in te n se ly in te re s tin g d a y -to -d a y m essag e to th o se
v ita lly concerned in w e a th e r co n d itio n s (an d good b a n k in g acco m m o
d atio n s) i t affords a n u n e q u a le d o p p o rtu n ity fo r bu sin ess so lic ita
tio n —-n o t once o r tw ice b u t t w e n t y - s i x t i m e s a y e a r .
T h e se b a n k ta lk s a re w ritte n b y ex p e rts, p erso n alized w ith y o u r
sig n a tu re b y u s, th e c a rd s a re ad d ressed a n d d eliv ered to y o u re a d y
fo r d is trib u tio n .
T h e fo reca sts a re re m a rk a b ly co rrec t, b ased o n th e m o st a d v a n c e d
P riv a te A stro n o m ic al in fo rm a tio n a n d in v e stig a tio n , a n d su p p le m e n t
o u r G ra in a n d C o tto n S u b sc rip tio n S ervice.
E n d o rs e d b y le a d in g S c ie n tis ts , B ro k e rs, a n d G ro w e rs.
A d v ise size of m ailing list. T h e p rice is o n l y $5 p e r m o n t h .
| T o H ave O ur A dvertisers Send |
| Y ou M ore In form atio n A b o u t |
| T h e ir G oods or Service.
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Every advertiser in The Northwestern Banker, has
goods or service of value to you. You place yourself under no obligation, if you ask for additional information
from any of our advertisers. Use the coupon and save
your time and postage. Ask u s for information about any
of our advertisers; some of the new ones this month are
listed below.
1- Line-a-time Manufacturing Co., Rochester, N. Y.
2. Eversharp Pencil Co., Chicago, 111.
3. National Fidelity Life Insurance Co., Sioux City, la.
4. Pacific Mortgage Company, Los Angeles, Cal.
5. Jesse E. Cole Company, Des Moines, Iowa,
6. L. F. Grammes & Co., Allentown, Pa.
■ ■ ■ ■ ■ ■ G U P A N D MAIL THIS COUPON T O D A Y * »
SERVICE D EPA RTM EN T
■
|
NORTHW ESTERN BANKER
Des Moines, Iowa
I would like to have further information from the ad
vertisers in the February issue listed as follows.............
CAROTHERS OBSERVATORY
Service Department
OBSERVATORY BUILDING
DES MOINES, IOWA
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
Place
State
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B
B
T H E
74
N O R T H W E S T E R N
F e b ru a ry , 1916
B A N K E R
Capital and Surplus
$300,000.00
For 25 years w e have
satisfactorily s e r v e d
our c o r r e s p o n d e n t
b a n k s . .........................
JO H N F. COAD, JR.. President
W ILLIAM J. COAD, V ice-Prest.
H. C. NICHOLSON, Cashier
CHAS. F. SCHAAB. Asst.^Cashier
THE PACK ERS NATIONAL BANK
fllllllllllllllllllllia illlllllllllllllllllllllllllllllllllllM IIIIIIIIIIH IIIItllllllllllllllllltlllllllllilllll'tM IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIH Ilin
NEBRASKA
llllllllllllllHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIU IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIH IIIIIIIIIIIIIIIIIIIIM IlIH lur
THE OMAHA NATIONAL BANK, OMAHA, NEB.,
HAS OVER $2,000,000 IN CAPITAL, SUR
PLUS AND UNDIVIDED PROFITS.
F o r th e first tim e in th e h is to ry of a n y b a n k in N e
b ra sk a , th e O m a h a N a tio n a l h a s a tta in e d o v er
$2,000,000 in c a p ita l, su rp lu s a n d u n d iv id e d profits.
T h e ca p ita l is $1,000,000; s u rp lu s, $500,000 a n d th e
u n d iv id e d p ro fits $513,658, m a k in g a to ta l of $2,013,658.
A c tiv ity fo r m o n ey is reflected in th e re p o rts of th e
c o n d itio n o f n a tio n a l b a n k s in O m a h a a c c o rd in g to
t h e la s t call.
T h e to ta l d e p o sits in th e n in e n a tio n a l b a n k s a m o u n t
to $61,581,983 a n d th e to ta l lo an s a n d d isc o u n ts are
$45,203,736.
AMERICAN STATE BANK, LONG PINE, NEB.,
SUCCEEDS THE COMMERCIAL BANK.
T h e A m e ric a n S ta te B an k h as su cceed ed th e C om
m ercial B an k o f L o n g P in e , N eb., a n d th e p aid in cap i
ta l h as b een in c re a se d fro m $10,000 to $25,000.
N o c h a n g e w ill b e m a d e in th e p o licy o r th e officers
of th e b an k . T h e officers a re : F . M cG iv erin , p re si
d e n t; J. C. C astle, v ic e -p re s id e n t; C has. P . N elson,
cash ier, a n d H . J. A lb e rts o n , a s s is ta n t cash ier.
FIRST NATIONAL BANK, CRETE, NEB., ADDS
$2,500 TO THE SURPLUS ACCOUNT.
A t th e a n n u a l m e e tin g o f th e F ir s t N a tio n a l B an k of
C rete, N eb., th e u su a l se m i-a n n u a l d iv id en d w as de
clared a n d $2,500 w a s ad d e d to th e su rp lu s of th e
b an k , $800 w as c h a rg e d off th e b u ild in g an d $2,232.46
w a s left in th e u n d iv id ed p ro fit acco u n t.
T h e fo llo w in g officers w e re e le c te d : J o h n T u lly ,
p re s id e n t; G. C. N oble, v ic e -p re sid e n t; E d. J . A ro n ,
c a s h ie r; F re d H ie r an d S o p h ia M enke, a s s is ta n t
cash iers.
T h e d ire c to rs of th e F ir s t S av in g s B ank, w h ich is
o w n ed b y th e sto c k h o ld e rs of th e F ir s t N a tio n a l B ank,
ad d ed $1,000 to th e su rp lu s of th e b an k .
J. F. HALDERMAN SELLS INTEREST IN THE
FARMERS AND MERCHANTS BANK
WYMORE, NEB.
J. F . H a ld e rm a n , fo r th e p a s t th re e an d a h alf y e a rs
ca sh ie r of th e F a rm e rs an d M e rc h a n ts B an k of W y m ore, N eb., h a s d isp o sed of h is in te re s t in th a t in s ti
tu tio n to M essrs. J. I. M oore a n d E . W . M iskell, òf
W ilb e r, H e n ry G und, of L in co ln , an d J. I. B ak er, of
S w an to n .
M r. M oore succeed s M r. H a ld e rm a n as cash ier.
M r. H a ld e rm a n ta k e s th e p o sitio n of c a sh ie r of th e
F ir s t S ta te B an k of P a w n e e C ity, of w h ich h is fa th e r,
W . J. H a ld e rm a n , is th e p re sid e n t. T h e fa th e r an d
son no w ow n th e c o n tro llin g in te re s t in th e in stitu tio n ,
th e la tte r h a v in g p u rc h a se d th e in te re sts of T h o m a s L.
G reen, w h o g o es to S c o ttsb lu ff to ta k e th e m a n a g e
m e n t of a b a n k th ere .
THE BLAIR NATIONAL BANK BECOMES THE
STATE BANK OF BLAIR.
T h e B la ir N a tio n a l B an k of B lair, N eb., h as s u r
re n d e re d its fed eral c h a rte r an d re in c o rp o ra te d as th e
S ta te B an k of B lair, w ith $50,000 cap ital.
A c h a rte r h as b een issu ed to th e re o rg a n iz e d in s ti
tu tio n b y th e s ta te b a n k in g b o ard . T h e sam e officers
w ill be in ch a rg e, w h o are : C. A . S ch m id t, p re sid e n t ;
W alter H. Rhodes
John W . Overstreet
Rhodes-Overstreet Company
Consulting Bankers
Bank Stocks
OM AH A
9 0 7 W . O .W . Bldg.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NEBRASKA
Phone Douglas 5 5 4 6
TH E
F e b ru a ry , 1916
N O R T H W E S T E R N
B A N K E R
75
United S tates National Bank
OF OM AHA, N EBRA SK A
Capital - - - -
V. B. CALDW ELL, President
M. T . BARLOW , Vice-President and
Chairman of the Board
G. W . W A T TL ES, Vice-President
W . E. RHOADES, Cashier
G. E. HAVERSTICK, Asst. Cashier
R. P. MORSMAN, Asst. Cashier
J. C. McCLURE, Asst. Cashier
G. H. YATES, Asst. Cashier
C. F. BRINKMAN, Asst. M et. Credit De
partm ent
$1,000,000.00
Surplus and
P r o fits .............. 784,000.00
Deposits - - - - $11,400,000.00
Your Business Cordially
Invited
T . E . S te v en s, v ic e -p re sid e n t, a n d T h o m a s F in n ell,
ca sh ie r.
FRED E. BODIE BECOMES PRESIDENT OF
THE CITIZENS NATIONAL BANK,
TECUMSEH, NEB.
F. W. CLARKE ELECTED PRESIDENT OF THE
F re d E . B odie h as p u rc h a se d th e in te re sts of J. O.
NEBRASKA NATIONAL BANK OF OMAHA.
G raf in th e C itizen s N a tio n a l B an k of T ec u m se h , N eb.,
F.
W . C lark e, fo rm e rly v ic e -p re sid en t of th e N e a n d h as also p u rc h a se d th e sto c k o f W . H . R ay m o n d ,
b ra s k a N a tio n a l B an k , O m ah a , h as b een elected p re si of L in co ln , w h ich g iv es him a c o n tro llin g in te re st.
d e n t to su cceed th e la te H e n ry W . Y a tes.
M r. G raf, w h o h as b een p re sid e n t of th e C itizen s
C h a rle s C offee, fro m th e d ire c to ry b o ard , w as m ade N a tio n a l B an k fo r th e p a s t th re e an d a h a lf y ea rs,
v ic e -p re sid e n t, a n d J o h n M c D o n a ld w a s elected to th e w ill d ev o te his a tte n tio n to o th e r in te re sts in T e
cum seh.
d ire c to ra te to su cceed M. C. P e te rs .
T h e o th e r officers re m a in th e sam e a n d are as fol
M r. B odie h as b een co n n e cted w ith th e b a n k in g b u si
lo w s : H . W . Y a te s, J r., c a s h ie r; L. W . S cheibel an d n ess fo r th e p a s t tw e n ty y e a rs, d u rin g w h ich tim e he
E p e s C orey, a s s is ta n t cash iers.
h as serv ed as c a sh ie r of th e C itizen s N a tio n a l B an k of
Y ork, p re sid e n t of th e S ta te B an k of E lk C reek,
M. T. BARLOW SUCCEEDS V. B. CALDWELL ca sh ie r of th e C itzen s N a tio n a l B an k of T ec u m se h
AS PRESIDENT OF THE U. S. NATIONAL
w h e n it w a s first o rg a n iz e d a n d ca sh ie r of th e T e
BANK, OMAHA.
cu m seh S ta te B ank.
M ilto n T . B arlo w , fo rm e rly v ic e -p resid en t of th e
U n ite d S ta te s N a tio n a l B an k of O m ah a, h as becom e S. D. THORNTON, SR., PRESIDENT OF THE
p re s id e n t of th a t in s titu tio n , su cc eed in g th e late V ic to r
SECURITY BANK, NELIGH, NEB., RETIRES.
B. C aldw ell.
A n u n e x p e c te d c h a n g e o c c u rre d a t th e S e c u rity
G.
W . W a ttle s , v ic e -p re sid e n t, w as m ad e ch a irm an B ank, N elig h , N eb., w h e n S. D . T h o rn to n , Sr., re tire d
of th e b o a rd of d ir e c to r s ; W illia m E . R h o ad es, cashier, from th e b a n k an d his sto ck w as ta k e n o v er by S. D.
w a s m ad e first v ic e -p re s id e n t; G eo rg e E . H a v e rstic k , T h o rn to n , J r., F . B. S k in n er, H a n s S c h u tt an d F .
a s s is ta n t ca sh ie r, w a s m ad e seco n d v ice-p resid en t, an d J u v e n a u t, of P e te rs b u rg .
R o b e rt P . M o rsm an , a s s is ta n t c a sh ie r, w as m ad e ca sh
T h e b a n k w ill rem ain u n d e r th e d ire c t m a n a g e m e n t
ier.
of th e p re s e n t cash ier, S. D. T h o rn to n , J r.
M r. R h o ad es h as b een w ith th e b a n k th ir ty y e a rs an d
M r. H a v e rs tic k h as b een co n n e cted w ith th e b a n k for
A n ew b a n k w ill soon be o pened a t C h ad ro n , N eb.,
tw en ty -fiv e y e a rs.
w ith R ay T ie rn e y in ch arg e.
*Tbe
Merchants National Bank
of
L a th e r D rak e, P re s id e n t
F ra n k T. H am ilton, V ice-P resident
F red P . H am ilton, C ashier
ACCOUNTS SOUCITED
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OMAHA,
H. M eile, Asst. C ash ie r
S. S. K ent, A sst. C ash ier
F. A. C uscaden, Asst. C ash ie r
U. S. DEPOSITORY
NEBRASKA
Capital - - - - $ 5 0 0 ,0 0 0 .0 0
Surplus - - - - $ 5 0 0 ,0 0 0 .0 0
U ndivided Profits - $ 3 6 4 ,2 2 2 .7 1
Deposits - - $ 7 ,5 2 7 ,9 5 5 .8 8
T H E
76
N O R T H W E S T E R N
B A N K E R
L . M . LORD, P r e s i d e n t
W . A . C. JO H N SO N , V i c e - P r e s i d e n t
F e b ru a ry , 1916
F . W . T H O M A S, C a s h ie r
C. A . D UN H A M . A s s t . C a s h ie r
R esou rces Over $3,000,000.00
LIVE STOCK NATIONAL BANK of SOUTH OMAHA
"THE BANK OF SERVICE”
Im proved L ive S tock S erv ice
WRITE US FOR In crea sed In terest E arn in gs
U n eq u aled F a cilities
T h e a g g re g a te re so u rces of th e 803 in s titu tio n s are
g iv en a t $144,422,709, o r s lig h tly o v e r $100 fo r ev ery
m an , w o m an a n d child in th e s ta te of N e b rask a.
NEBRASKA
SiiimiiimiimiiiiiimiiiMiiiiimiimiiiiiiiiiimiiiiimiimiiiiiiiiiimimmimiiiimiiiiiiiimmmmiiiiiimiiiiimiiiiiiiiiiiimmmiiiii!
NEBRASKA STATE BANK DEPOSITS IN
CREASE $20,000,000 DURING PAST YEAR.
D e p o sits of b a n k s u n d e r s ta te su p e rv isio n in N e
b ra s k a h a v e in c re a se d th e ir d ep o sits $20,989,818 d u rin g
th e p a s t y ea r.
In th e sam e tim e th e n u m b e r of s ta te b a n k s h as
in cre ase d fro m 760 to 803. T h e n u m b e r of d e p o sito rs
in th e sam e le n g th of tim e h a d ad v a n c e d fro m 362,000
to 381,000; lo an s h a v e in c re a se d $19,023,635 a n d th e
re se rv e $4,143,545. T o ta l d e p o sits n o w a m o u n t to
$114,487,652.98.
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FIRST NATIONAL BANK, BAYARD, NEB., IN
CREASES SURPLUS.
GEORGE I. PARKER, PRESIDENT OF THE
FIRST NATIONAL BANK, HARTINGTON,
NEB., RESIGNS.
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H . R . H o w e h as b een elected p re sid e n t of th e F ir s t
N a tio n a l B an k of A u b u rn , N eb., to succeed th e late
M a jo r C h u rch H o w e.
M r. H o w e h as b een a sso c ia te d w ith th e b a n k for
y e a rs an d m u ch of its g ro w th a n d p ro s p e rity h av e been
due to his efforts.
F . E . A llen is v ice-p resid en t an d W . H . B ousfield is
th e cash ier.
T h e F ir s t N a tio n a l B an k of B ay ard , N eb., h as in
crease d its s u rp lu s fu n d fro m $5,000 to $10,000, m a k in g
th e co m b in ed ca p ita l an d su rp lu s $35,000. A t th e a n
n u al m e e tin g th e u su a l d iv id en d w a s d eclared. T h e
to ta l b u sin e ss h as g re a tly in cre ased d u rin g th e p a s t
y ear.
W . H . O s te n b e rg is th e p re sid e n t a n d Geo. G.
C ro n k lesto n is th e cashier.
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H. R. HOWE ELECTED PRESIDENT OF THE
FIRST NATIONAL BANK, AUBURN, NEB.
'You Can P rofitab ly In v est
in In d estru cto L u ggage
I f y o u a r e a m a n w h o w a n t s t h e v e r y b e s t in
tra v e lin g
e q u ip m e n t,
th e n
y o u m u s t s e le c t a n
IN D E S T R U C T O t r u n k — a n IN D E S T R U C T O b a g o r
s u itc a s e .
I f y o u w a n t s t r e n g t h — s e r v ic e — a n d g o o d h o n e s t v a lu e ,
y o u c a n n o t d o b e t t e r t h a n t o o w n IN D E S T R U C T O
baggage.
Y ou a r e p ro b a b ly th e s o r t o f a m a n w h o w a n ts v a lu e
a n d k n o w s v a lu e w h e n h e se es it— le t u s se n d y o u
o u r c a t a l o g — t h e n g iv e u s y o u r o p in io n o f a n
IN D E S T R U C T O t r u n k f r o m t h e s t a n d p o i n t o f s t r e n g t h
— p r i c e — s e r v ic e — o r f a i r v a lu e .
W r i t e to d a y — w e ’l l s e n d y o u o u r
b o o k le t th e d a y w e g e t y o u r le tte r .
b e a u tifu l
4 - e o lo r
N ational V eneer Products Co.
MISHAWAKA. INDIANA
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A fte r six y e a rs ’ serv ice as p re sid e n t of th e F ir s t
N a tio n a l B an k of H a rtin g to n , N eb., G eorge I. P a rk e r
h as re sig n e d to becom e asso c ia te d w ith T h e C o m m on
w e a lth L ife In s u ra n c e C o m p an y of O m ah a.
W . S. W e s to n , w h o h as been v ice-p resid en t, h as
b een ad v a n ced to th e p re sid e n c y ; R . G. M ason, th e
cash ier, h as b een elected v ice-p resid en t, a n d Geo.
B este, a s s is ta n t cash ier, h as b een p ro m o te d tor cash ier.
M r. P a rk e r w a s asso c ia te d w ith th e C 6 lerid g e S ta te
B an k as ca sh ie r fo r tw e lv e y e a rs b efo re co m in g to
H a rtin g to n .
NEBRASKA NEWS AND NOTES.
A t th e a n n u a l m eetin g of th e d ire c to rs of th e F ir s t
N a tio n a l B an k of A u b u rn , N eb., h eld re c e n tly , H e rb e rt
R. H o w e w as u n an im o u sly elec ted p re s id e n t of th e in
s titu tio n .
T h o m a s F ly n n h a s b een elected d ire c to r of th e C orn
E x c h a n g e N a tio n a l B ank, O m ah a, N eb., to succeed
T . B. M cP h erso n .
T H E
F e b ru a ry , 1916
N O R T H W E S T E R N
77
B A N K E R
The Omaha National Bank
Omaha, Nebraska
Established in 1866
C apital $1,000,000.00
Surplus and P rofits $950,000.00
Exceptional collection facilities for Iowa business.
Items routed direct.
OFFICERS
J. H. MILLARD, President
W . H. BUCHOLZ, V ice-President
W A R D M. BURGESS, V ice-President
J. DeF. RICHARDS, Cashier
FR A N K BOYD, Assistant Cashier
B. A . W ILCOX, A ssistant Cashier
EZR A MILLARD, A ssistant Cashier
O. T . ALVISON, A ssistant Cashier
A t a m e e tin g of th e sto c k h o ld e rs of th e B ro w n C oun
ty B an k , L o n g P in e , N eb., it w a s decided to in crease
th e ca p ita l sto ck of th e b a n k fro m $15,300, its p re se n t
ca p ita l sto ck , to $40,000. T h e p re s e n t officers of th e
b a n k w ill c o n tin u e in th e ir re sp e c tiv e p o sitio n s.
T h e C o m m ercial B a n k of L o n g P in e , N eb., h as
ch a n g ed its n am e to th a t of th e A m e ric a n S ta te B ank,
w ith p ra c tic a lly th e sam e officers as b efore, except
th a t H . J. A lb e rts o n h a s b een m ad e a s s is ta n t cashier.
T h e c a p ita l sto c k h a s b een in c re a se d fro m $10,000 to
$25,000, o w in g to th e ir in c re a se in b u sin ess.
A t th e a n n u a l m e e tin g of th e sto c k h o ld e rs of th e
C ed ar C o u n ty S ta te B ank, H a rtin g to n , N eb., it w as
decided to in cre ase th e b o ard o f d ire c to rs to fo u r in
stead of th re e as fo rm erly . J. A . T h o e n e w a s elected
to th e n ew d irec to rsh ip . T h e fo rm e r d irec to rs, E . M.
H e rte rt, A. J. L a m m e rs an d C. N . H e r te r t w e re re
elected. E . M . H e r te r t w as re -elec te d p r e s id e n t; A.
J. L am m ers, v ice-p resid en t, a n d C. N . H e rte rt, cashier.
T h e H o m e S av in g s B an k of G ra n d Isla n d , N eb., h ad
its a n n u a l m e e tin g re c e n tly an d re -elec te d th e sam e
officers fo r th e en su in g y ear.
S.
D . T h o rn to n , S r., re c e n tly d isp o sed of h is h o ld T h e T h ird S ta te B ank, W o o d L ak e, M inn., o pened
in g s in th e S e c u rity B a n k a t N elig h , N eb., to th e old u p re c e n tly fo r b u sin ess.
sto c k h o ld e rs an d H a n s S c h u tt, F . B. S k in n e r of N elig h
__ THE HOGGSON —
an d F ra n k J o u v e n a t of L in co ln , w h o a re n ew sto c k
BUILDING METHOD ]
ho ld ers.
T h e C ity N a tio n a l B a n k of Y o rk , N eb., h as ad o p ted
■ ow ner !
a n ew sy ste m of h a n d lin g th e ir a c c o u n ts th a t h as been
|*í*eHmcT^^0GGS0N^»^iÑ»ir
su cc essfu lly trie d in so m e of th e la rg e r cities. In s te a d
■ ■ ■ ■ brothersB i ^ H
■ BUIIDER'B^v'^ S FURNISHES■
of p re s e n tin g y o u r p a ss b o o k s fo r b a la n c in g a t th e end
■ dÈcormórB
of each m o n th , a m o n th ly s ta te m e n t is m ailed o u t to
each p a tro n , to g e th e r w ith th e can celled checks.
A Single Contract and a guaranteed limit
T h e la s t s ta te m e n t of th e B an k of C om m erce in
H a s tin g s , N eb., sh o w s an in cre ase in d ep o sits d u rin g
th e p a s t y e a r of n e a rly $150,000.
T h e d ire c to rs of th e F ir s t N a tio n a l B ank, B eatrice,
N eb., h eld a m e e tin g re c e n tly , a t w h ich tim e W . C.
B lack, J r., w a s elected c a sh ie r a n d m e m b er of th e
b o a rd of d ire c to rs to fill th e v a c a n c y ca u sed b y th e
d e a th of W . W . B lack. H . E . R eev e s w a s elected a s
s is ta n t ca sh ie r. T h e o th e r officers a n d d ire c to rs w ere
re-elected .
H a r r y D o ll w a s elected a s s is ta n t ca sh ie r of th e B ea
tric e N a tio n a l B ank, B e atric e, N eb., a t a m e e tin g of
th e d ire c to rs h eld re c e n tly . T h e o th e r officers an d di
re c to rs w e re all re -elec te d fo r th e e n s u in g y ear.
A b ro n z e ta b le t w ith an a p p ro p ria te in sc rip tio n to
th e m e m o ry of V ic to r B. C aldw ell, w h o w as p re sid e n t,
is to be p lace d p e rm a n e n tly in th e lo b b y of th e new
b a n k in g h o u se of th e U n ite d S ta te s N a tio n a l B ank.
T h e F a rm e rs S ta te B a n k of S tella, N eb., h a s fix
tu re s , m a n u fa c tu re d b y th e H . E h rlic h & S ons of St.
Jo se p h , M o., m ad e of q u a rte r-s a w e d w h ite oak, fin
ish e d in th e c h e s tn u t b ro w n o r g o ld en w ith th e w h itefig u re d m a rb le b a se a n d w ith th e m assiv e g rill w ork.
I t is a v e ry b e a u tifu l b an k .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
of cost for a complete building operation.
W rite f o r Method Book
HOGGSON BROTHERS
485 Fifth A ve., N e w Y o rk
NEW YORK
BOSTON
fJEW HAVEN
CHICAGO
ATLANTA
Secured Merchants’ Notes
We can offer paper possessing the following features:
Makers long established and well rated.
Amounts of $1000 to $5000; time four or six months.
Discount rate 6 per cent to 7 per cent.
Notes secured by customers’ notes at mr.rgin of 50
per cent or more taken for the sale'of merchandise to
retail customers. ,
Deposits of collections made in New York exchange
weekly or semi-monthly, equal to average deposit (not
subject to check) of 20 per cent or more.
Send for Circular S. N. and list of offerings.
WM. A. LAMSON & CO.
Established 1904
60 W all Street
Com m ercial Paper
N e w Y ork
78
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
Sioux Falls Savings Bank
SIOUX
FALLS,
S.
D.
C a p i t a l.........................................$200,000.00
T otal R eso u rces O ver . . . $2,800,000.00
OFFICERS
WILLIAM ONTJES, President
C. H. ROSS, Vice-President
C. C. BRATRUD, Vice-President
L. D. MANCHESTER, Vice-President
JAS. B. LAMBERTSON, Cashier
K. B. CRESSEY, Asst. Cashier
F. A. FOSDICK, Asst. Cashier
R. L. HARRIS, Auditor
A L ive C om m ercial Bank
A c c o u n ts o f B a n k s a n d B a n k e r s S o lic i t e d
SOUTH
DAKOTA
ViiiiiiitiiiiiiiiiiiiimimiiiMiimiiiiiiiiiiiiiiiiiimiimiiiiiimiiimmiiiiiHiiiiimiiimiiiiimiiimmiiimiiiiiiiijiimiiiiimiitiiiiiiiiimr
N. O. MONSERUD, MEMBER OF THE GOOD
ROADS COMMITTEE OF THE SOUTH
DAKOTA BANKERS ASSOCIATION.
A t th e a n n u a l c o n v e n tio n of th e S o u th D a k o ta
B a n k e rs A sso c ia tio n , w h ich w a s h eld a t D ead w o o d
la s t su m m er, th e re w a s a g o o d ro a d s c o m m itte e a p
S e n d U s Y o u r F a r m L o a n A p p lic a t io n s
w o rth C o u n ty S ta te B an k , S elby, S. D . ; N . O . M onseru d , c a sh ie r of th e D a k o ta T r u s t & S av in g s B ank,
S io u x F alls, S. D ., a n d O sc a r A rn o ld , of th e F ir s t
N a tio n a l B ank, S alem , S. D .
T h is co m m itte e is en d e a v o rin g to in te re s t th e S o u th
D a k o ta B an k ers A sso cia tio n in th is m o v em en t, and
h as decided to p u b lish a series of b u lle tin s from tim e
to tim e to be m ad e in th e form of h a n g e rs so th a t th e y
can be easily h u n g a n d d isp lay ed in som e co n v e n ie n t
place in th e lo b b y of each m em b er b a n k w h e re th e
pu b lic can g e t access to th em , a n d u rg e u p o n th e
officers of th e v ario u s b an k s to call th e p u b lic ’s a t
te n tio n to th o se b u lle tin s a n d m ak e an effo rt to see
th a t th e su g g e stio n s offered be ca rrie d o u t to a g re a te r
o r lesser d eg ree in th e ir re sp ectiv e co m m u n ities.
S o u th D a k o ta w ill w ith in a v e ry few y e a rs h av e one
of th e b e st sy ste m s of pub lic h ig h w a y s of an y s ta te
in th e w e st if th e b a n k e rs all do th e ir sh a re to aid th e
m o v em en t.
FIRST NATIONAL BANK, BROOKINGS, S. D.,
INCREASES SURPLUS FUND $15,000.00.
A t th e re g u la r m e e tin g of th e b o a rd of d ire c to rs of
th e F ir s t N a tio n a l B an k of B ro o k in g s, S. D ., it w as
decided to in cre ase th e s u rp lu s fu n d from $10,000 to
$25,000. T h is w ill in cre ase th e w o rk in g fu n d of th e
b a n k $15,000, th u s g iv in g it ad d ed stre n g th .
T h e p a s t y e a r h as b een one of th e v e ry b e s t in th e
h isto ry of th e F ir s t N a tio n a l B ank.
THE CITIZENS STATE BANK, COLMAN, S. D.,
MAKES SPLENDID SHOWING.
Dakota
N. O. MONSERUD,
Cashier,
Trust & Savings Bank,
Falls, S. D.
A c co rd in g to th e la s t s ta te m e n t of th e C itizen s S ta te
B an k of C olm an, S. D ., th e y n o w h av e a ca p ita l of
$10,000; s u rp lu s a n d u n d iv id ed p rofits, $11,034.16;
.b ills p ay ab le, $8,000, an d d ep o sits, $100,592.18.
T h e re so u rces of th e b a n k on D e c e m b e r 31, 1908,
w e re $39,138.57 a n d on D e c e m b e r 31, 1915, th e y had
in cre ased to th e sp len d id su m of $129,626.34.
T h e officers of th is su ccessfu l b a n k a r e : C. H . A l
len, p re s id e n t; J. P . K lu g s, v ic e -p re sid e n t; E . A . W ieseth , c a s h ie r; I. E . L ocke, a s s is ta n t cash ier.
Sioux
p o in te d fo r th e p u rp o se of s tim u la tin g th e in te re s t in
th e g o o d ro a d s m o v e m e n t o v e r th e sta te . T h e m em
b ers of th e c o m m itte e a r e : G. C. P ie rce , of th e W a l
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SIOUX FALLS SAVINGS BANK, SIOUX FALLS,
S. D., MAKES SPLENDID INCREASE
IN DEPOSITS.
O n J a n u a ry 1, 1913, th e d ep o sits of th e S io u x F alls
S av in g s B an k , S io u x F alls, S. D ., a m o u n te d to $1,560,733.10 a n d on J a n u a ry 1, 1916, th e y a m o u n te d to $2,-
F e b ru a ry , 1916
TH E
N O R T H W E S T E R N
79
B A N K E R
D A K O T A T R U S T & S A V IN G S B A N K
SIOUX FALLS. SO. DAK.
Capital and Surplus $105,000.00
Accounts of Banks, Bankers and Individuals solicited on reasonable terms.
and interviews invited.
The Entire State of South Dakota Handled Direct
Correspondence
Deposits in This Bank G U ARAN TEED Under the South
Dakota Bank Guarantee A ct
OFFICERS
N. O. M O N S E R U D , C a s h ie r
E . E . O L S T A D , A s s t. C a s h ie r
600,149.82, th u s sh o w in g a n in cre ase of o v er $1,000,000.00 in th re e y e a rs. T h e to ta l re so u rces of th e b an k
a re $2,835,789.52.
L. D . M a n c h e s te r h as b een elected as one of th e
v ic e -p re sid e n ts of th e b a n k an d F . A . F o sd ic k h as been
elected a s s is ta n t cash ier.
T h e officers n o w a re as fo llo w s: W illia m O n tjes,
p r e s id e n t; C. H . R o ss, C. C. B ra tru d , L. D . M an
c h e ste r, v ic e -p re s id e n ts ; J a s. B. L a m b e rtso n , c a sh ie r;
K . B. C resse y a n d F . A. F o sd ic k , a s s is ta n t cash iers,
a n d R . L . H a rris , a u d ito r.
W . C. H O L L IS T E R , P r e s i d e n t
T O R E T E IG E N , V i c e - P r e s i d e n t
O. A. H A Y W A R D , V i c e - P r e s i d e n t
fo r te n y e a rs h as b een in c h a rg e of th e b o o k k ee p in g
d e p a rtm e n t, h as been p ro m o ted to th e a s s is ta n t ca sh
iership.
GREGORY NATIONAL BANK ABSORBS BANK
OF CARLOCK, S. D.
T h e B an k of C arlock, S. D ., as a financial in s titu tio n
of G re g o ry c o u n ty has b een m erg e d w ith th e G re g o ry
N a tio n al B an k of G reg o ry .
H . S. G ow , w h o h as b een th e ca sh ie r an d p rin cip a l
o w n e r of th e B an k of C arlock, w ill be asso c ia te d w ith
his fa th e r in th e fa rm lo an b u sin e ss in N o rfo lk , N eb.
T h e m e rg in g of th e C arlo ck b a n k w ith th e G reg o ry
C. J. BACH SELLS HIS. INTEREST IN THE
N a tio n a l w ill be an a d v a n ta g e to its p a tro n s, as it
BANK OF HURLEY, S. D.
L.
C. P e p p a rd a n d E . L. B u rre ll, of M inneapolis, places th e m in co n n ectio n w ith a la rg e r a n d s tro n g e r
h av e b eco m e th e o w n e rs of th e financial in te re sts of in stitu tio n .
C. J. B ach in th e B a n k of H u rle y , S. D . M r. B ach h as
b een th e p re s id e n t a n d a m e m b e r of th e b o ard of di NO ROBBERY OCCURRED IN RUTLAND, S. D.
BANK.
re c to rs sin ce th e b a n k w as o rg a n iz e d in 1892, a lth o u g h
T h ro u g h an e rro r it w as s ta te d in th e J a n u a ry issu e
fo r som e y e a rs he h a s n o t ta k e n a n a c tiv e p a r t in th e
of T h e N o rth w e s te rn B a n k e r th a t th e F ir s t S ta te
m a n a g e m e n t of its affairs.
T h e a c tiv e m a n a g e m e n t of th e b a n k w ill rem ain as B an k of R u tla n d , S. D., w a s ro b b e d of $1,000.
T h e o n ly b a n k in R u tla n d is th e F a rm e rs S av in g s
h e re to fo re in th e h a n d s of J. C. G ilb ert, P e te r A llen
B an k a n d it h as n o t been m o lested in an y w ay . W e
a n d L. C. A llen .
are g lad to m ak e th is co rrectio n .
DEPOSITS OF THE FARMERS & MERCHANTS
STATE BANK, VERDON, S. D., ALMOST
DOUBLE DURING THE PAST YEAR.
T h e p a s t y e a r h as b een a v e ry su ccessfu l on e for
th e F a rm e rs a n d M e rc h a n ts S ta te B an k of V erd o n , S.
D ., as th e ir d e p o sits h av e a lm o st d o u b led d u rin g th a t
tim e . O n J a n u a ry 2, 1915, th e d e p o sits a m o u n te d to
$48,359.60 an d o n J a n u a ry 2, 1916, th e y w e re $96,375.98.
T h e ca p ita l of th e b a n k is $10,000, su rp lu s a n d u n d i
v id ed p ro fits $7,640.00, w h ich , to g e th e r w ith th e de
p o sits, m ak es to ta l lia b ilitie s of $114,015.98. E . G.
E llio tt is th e efficient c a sh ie r of th is p ro g ressiv e in s ti
tu tio n .
M. C. SMITH ELECTED VICE-PRESIDENT OF
THE SIOUX FALLS NATIONAL BANK,
SIOUX FALLS, S. D.
M . C lyde S m ith , w h o h a s b een ca sh ie r of th e B an k
of Ip sw ic h , S. D ., fo r th e p a s t eleven y ea rs, h as been
elec ted v ic e -p re sid e n t of th e S io u x F a lls N a tio n a l B an k
of S io u x F a lls to su cceed S. T . K id d oo, w h o h as re
sig n e d to b eco m e th e v ic e -p re sid e n t of th e L ive S to ck
E x c h a n g e N a tio n a l B a n k of C hicago.
J. D . F le c k e n ste in , fo rm e rly a s s is ta n t cash ier, h as
b een elec ted to th e c a sh ie rsh ip an d L. A . G ray, w ho
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE FIRST STATE BANK OF STRATFORD, S.
D., HOLDS ANNUAL MEETING.
A t th e a n n u a l m e e tin g of th e d ire c to rs of th e F ir s t
S ta te B an k of S tra tfo rd , S. D ., th e fo llo w in g officers
w e re e le c te d : L. A . P ic k erin g , p r e s id e n t; A . P . R o b
inson, v ic e -p re sid e n t; O . H . C h ristia n , c a s h ie r; R . J.
W e id e n b ach , a s s is ta n t cashier. M r. C h ristia n h as b een
w ith th e b a n k fo r th re e y e a rs an d M r. W e id e n b ach
com es fro m th e F ir s t S ta te S av in g s B an k of A b erd een ,
h a v in g ,b een w ith th a t b a n k fo r five y ea rs. T h e di
re c to rs a r e : E . W . R ad ek e, W a te rto w n , S. D . ; F . B.
G annon, A b e rd e e n ; W m . W e rth , W a r n e r ; L. A. P ic k
erin g , A b e rd e e n ; A . P . R o b in so n , S tr a tf o r d ; O . H .
C h ristia n , S tra tfo rd .
T h e b a n k h a s a ca p ita l of $10,000.00; su rp lu s,
$10,000.00; to ta l reso u rces, $174,393.38. T h e b a n k is
in a v e ry h e a lth y co n d itio n a n d th e d ep o stis a re in
creasin g .
SOUTH DAKOTA BANK GUARANTY ACT NOW
IN EFFECT.
A ll d ep o sits in s ta te b a n k s in S o u th D a k o ta are now
g u a ra n te e d th ro u g h th e b a n k g u a ra n ty fu n d — w h ich
law w e n t in to effect th e first of th e y ear. T h is fu n d
TH E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
Minneapolis Bank Fixture
Company
215 F ifth S tr e e t N. E.
MINNEAPOLIS MINN.
SPECIALIST MANUFACTURERS OF
Bank, Office and Store Fixtures. All Classes of
High-Grade Cabinet W ork and Interior Finish.
Designs and Estimates Submitted on Wood, Marble
and Tile W ork.
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SOUTH DAKOTA
' ^ ii H iii ii M i i i i i i a i i i i u i i i i i i i i i i i i i i u i i i i i i i i i i i i i i i i i i i i i i m in iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii || m u in in m i
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|in P
is c re a te d b y a lev y of o n e -fo u rth of o n e p e r c e n t of th e
a v e ra g e d aily d ep o sits in s ta te b a n k s as sh o w n b y th e
re p o rts of J a n u a r y 1st of each y ea r, w h ich a re re q u ired
to be m ad e to th e g u a r a n ty fu n d com m ission.
T h e first lev y w as m ad e on F e b ru a ry 1st of th is y e a r
a n d w ill be m ad e th e first of each F e b ru a ry fo llo w in g
u n til th e g u a r a n ty fu n d eq u a ls \y2 p e r c e n t of th e daily
b alan ces. A sse ssm e n ts th e n w ill cease u n til th e g u a r
a n ty fu n d is d ep lete d b y p a y m e n ts of lo sses th a t m ay
occur, w h e n th e levies w ill a g a in be m ad e u n til th e
fu n d re ach e s \y2 p e r c e n t of th e to ta l d aily b alan ces.
GEO. DUNTON RETIRES AS CASHIER OF THE
FIRST NATIONAL BANK, WEBSTER, S. D.
Geo. C. D u n to n re tire d th e first of th e y e a r fro m th e
ca sh ie rsh ip of th e F ir s t N a tio n a l B a n k of W e b s te r, S.
D., to g iv e h is e n tire tim e to th e a u to m o b ile b u sin ess.
A lm o n E . C h ilso n h a s b o u g h t M r. D u n to n ’s sto ck
in th e b a n k a n d w ill ta k e an a c tiv e p a r t in th e m a n
ag e m e n t of th e in s titu tio n .
SOUTH DAKOTA NEWS AND NOTES.
J. C. C am pbell, fo rm e rly ca sh ie r an d p rin c ip a l sto c k
h o ld er in th e B an k of H o u g h to n , S. D ., w h o re c e n tly
sold o u t his in te re s t in th a t in s titu tio n to N o rth D a
k o ta p a rtie s, h as p u rc h a s e d an in te re s t in th e F ir s t N a
tio n al B an k of F re d e ric k , S. D.
T h e B an k of C arlock, S. D ., h as b een m e rg e d w ith
th e G re g o ry N a tio n a l B an k , G re g o ry , S. D.
T w e n ty y e a rs ag o th e b a n k d e p o sits in Iro q u o is, S.
D ., w e re $40,000, c o n sid ered a t t h a t tim e to be a b ig
figure. T o d a y th e y a re $350,000.
T h e B u tte C o u n ty B ank, B elle F o u rc h e , S. D., an d
th e B elle F o u rc h e S ta te B a n k h av e re ceiv ed th e ir ce r
tificates fro m th e s ta te b a n k in g d e p a rtm e n t g u a r a n te e
in g d ep o sito rs a g a in s t lo ss b y re a so n of a b a n k failure.
T h is n e w law w e n t in to effect on J a n u a ry 1st.
T h e C itize n s B a n k of K e n o sh a , S. D ., o p en ed its
d o o rs fo r b u sin e ss re c e n tly w ith a ca p ita l sto c k of $50,000. _ N . J. W e r n e r is p re s id e n t a n d E . T . O ’B rien,
,c ashier.
H u g o C o n n o r h as ac cep ted a p o sitio n in th e C itizen s
B ank, M iller, S. D.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
F . C. B ro o k in g s, ca sh ie r of th e B u rk e S ta te B ank,
B u rk e, S. D., w as m a rrie d re c e n tly to M iss E . M y rtle
Jan se n .
S o u th D a k o ta ’s b a n k d ep o sits, one of th e m o st co n
v in cin g g u id es to th e p ro s p e rity of a c o m m o n w ea lth
o r co m m u n ity , h av e tre b le d w ith in th e p a s t te n y ea rs,
a c c o rd in g to th e fiftee n th a n n u a l rev iew issu ed b y th e
s ta te d e p a rtm e n t of h isto ry .
T h e F ir s t S ta te B an k of W a g n e r, S. D., h av e ad d ed
a B u rro u g h s a d d in g an d lis tin g m ach in e to th e ir eq u ip
m en t.
T h e s ta te co n v e n tio n of th e S o u th D a k o ta B a n k e rs’
A sso cia tio n w ill th is y e a r be held in S io u x F alls, Ju n e
28th a n d 29th.
B an k d ep o sits in A b e rd een , S. D ., b an k s for th e call
c o v e rin g b u sin ess a t th e close of D e cem b er 31, 1915,
b ro k e all p re v io u s re co rd s of b a n k d ep o sits in th a t city,
th e to ta l a m o u n t of d ep o sits in th e b a n k s a t th a t tim e
re a c h in g th e h e re to fo re u n p a sse d a m o u n t of $5,689,272.42, an in cre ase of $619,614.80 o v er th e p re v io u s
re co rd se t w h e n th e to ta l d ep o sits w e re fig u red up on
th e call issu ed N o v e m b e r 15, 1915, w h e n th e to ta l d e
p o sits p asse d th e five-m illion m a rk fo r th e first tim e
an d to ta le d $5,069,657.62.
A . L. K in n ey , ca sh ie r of th e A m eric an N a tio n a l
B an k of S pearfish, S. D ., died su d d e n ly fo llo w in g an
a tta c k of h e a rt failure.
R o b e rt M u ck ier, ex a m in e r in ch a rg e of th e failed
F a rm e rs a n d C itizen s S ta te B an k of B ry a n t, S. D., re
c e n tly p aid th e c re d ito rs of th e in s titu tio n a divid en d
of 25 p e r c e n t of th e a m o u n t of th e ir o rig in al claim s.
T h is m ak es 50 p e r c e n t w h ich h as been p aid to th e
cred ifo rs.
T.
F . M arsh a ll of O aks, N. D ., h as p u rc h a se d th e
c o n tro llin g in te re s t in th e D a k o ta N a tio n a l B an k at
A b erd een , S. D . M r. M arsh a ll h as la rg e b a n k in g in
te re s ts in N o rth D a k o ta .
T h e b o a rd of d ire c to rs of th e B an k of L eola, S. D.,
a t a re c e n t m e e tin g elected W . C. T u rn e r, p re s id e n t;
G. H . T u rn e r, cash ier, an d L. J. T u rn e r, a s s is ta n t ca sh
ier.
T h e C om m ercial S ta te B an k of P la tte , S. D ., h as re
c e n tly in cre ased its cap ita l sto ck from $25,000 to $27,500. T h e e n la rg in g of th e ca p ital sto ck of a b an k en
ab les it to ex ten d la rg e r ac co m m o d atio n s to its
cu sto m ers.
T H E
F e b ru a ry , 1916
N O R T H W E S T E R N
B A N K E R
T . E. W IE D E R S H E IM , V ice-P resident
C H A R L E S M. A S H T O N , C ashier
JO S E P H W A Y N E , Jr., P resid en t
EV A N R A N D O L P H , V ice-P resident
81
A . W . P IC K F O R D , A ssistan t C ashier
A L FR E D B A R R A T T , A ss’t C ashier
F R A N C IS B. RE EV ES, C hairm an of th e B oard
The Girard National Bank
PHILADELPHIA, PA.
Capital, $2,000,000
Surplus and Profits, $4,700,000
Deposits, $55,000,000
ACCOUNTS OF BANKS A N D BANKERS SOLICITED
“T o Satisfactorily Handle Your Business, You Need a Philadelphia A ccount”
S u m n e r H a rris , w h o h a s b een fo r sev en y e a rs co n
n ec te d w ith th e A b e rd e e n N a tio n a l B an k , A b erd een ,
S. D ., a n d fo r m a n y m o n th s in c h a rg e of th e collection
b u sin e ss of th a t in s titu tio n , leav es s h o rtly fo r C hicago,
w h e re h e w ill ta k e a sim ila r p o sitio n in o ne of th e larg e
financial in s titu tio n s of th a t city . P a u l Jo n es, b o o k
k e e p e r a t th e D a k o ta N a tio n a l B ank, ta k e s M r. H a rris ’
p o sitio n a t th e A b e rd e e n N a tio n a l.
T h e th re e b a n k s of B ism a rck , S. D ., h av e d ep o sits
of $4,000,000. T h is is c o n sid ered an ex c ellen t sh o w in g
fo r a to w n of 6,000 p o p u latio n .
C arl L ee d y h a s re sig n e d h is p o sitio n in th e F ir s t N a
tio n a l B an k , R a p id s C ity, S. D .
T h e S io u x F a lls, S. D ., b a n k s w itn e sse d th e m o st
re m a rk a b le p erio d of g ro w th in th e ir h is to ry d u rin g
1915.
G reen w ay , S. D ., a little place on th e M ilw au k ee
ra ilro a d in n o rth e rn M c P h e rso n c o u n ty , p u ts all o th e r
to w n s in th e sh ad e fo r p e r c a p ita w e a lth as sh o w n b y
b an k d ep o sits, G re en w a y h a s a p o p u la tio n of b u t
th irty -n in e , b u t th è b a n k d ep o sits to ta l $79,279.78, or
a p e r ca p ita w e a lth of $2,032.81.
S. T . K iddoo, c a sh ie r of th e S io u x F a lls N a tio n a l
B ank, S io u x F alls, S. D., h as re sig n e d to accep t th e
p o sitio n of v ice-p resid en t w ith th e L ive S to ck E x
ch an g e N a tio n a l B an k of C hicago.
T h e F ir s t N a tio n a l B an k of W a te rto w n , S. D ., re
c e n tly le t th e ir c o n tra c t fo r a $75,000 ta n k in g b u ild in g
to rep lace th e ir p re se n t s tru c tu re , w h ich w a s erected
in 1880.
C. W . H o se h as re sig n e d his p o sitio n as c a sh ie r of
th e F ir s t S ta te B an k of L em m o n , S. D.
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To increase the loaning power of the local banker, this
institution offers assistance through its Live Stock Loan
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NORTHWESTERN NATIONAL BANK
MINNEAPOLIS,
MINNESOTA
Affiliated with T h e M innesota Loan and Trust Co.
COMBINED RESOURCES $60,000,000
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
82
TH E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
“Made in Minneapolis"
The Am erican Bank P rotection Co.
Capital $150,000.
Steel Office and Vault Fixtures
Omnibuses
Steel Filing D evices
Vault Doors
E L E C T R IC A L BURGLAR ALARMS
T w elve years’ experience protecting more than 2,000 hanks without
Indorsed by bankers* associations and expert vault engineers
Every system guaranteed against burglary
iiiiimiiiiiiiiiiHiiiiiiiiiiiiiiiiiiiiiiHiiiiimiimiiiiiiiiiiiMiiimmiiiiiiiiiiiiiiiMiimiiiiiiimiiiiiiiiiiimiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiii
N O RTH DAKOTA
TiiimiiiimimimiiiiiiiiiiimimmimiiiiiiiiiiiiiimiiimimiiiimiiimmiiiiiiimiiiimiiiiimmmimiimmiiHiiiiiiiiiiiiiiiiiiiiiiiiiiiâl
THE MOHALL STATE BANK, MOHALL, N. D.,
HAS RESOURCES OF OVER $165,000.
T h e M o h all S ta te B an k of M ohall, N . D ., ac co rd in g
to its la s t re p o rt, h a s to ta l re so u rc e s of o v e r $165,000.
T h e c a p ita l sto c k p aid in is $10,000; su rp lu s an d profits,
$5,483.87 ; to ta l d ep o sits, $150,469.94, th u s m a k in g a
g ra n d to ta l of $165,953.81. T h e to ta l d ep o sits on
J u n e 30, 1914, w e re $39,852.61, w h ich h av e in cre ased to
th e sp le n d id a m o u n t of $150,469.94, a c c o rd in g to th e
la s t call. T h e b a n k h as no b ills p ay ab le.
S. H . S le ep er is th e p re s id e n t of th is p ro sp e ro u s in
s titu tio n , F . W . W ie b e is th e v ic e -p re sid en t ; J. C.
P e te rs th e ca sh ie r, a n d W . W . B e rg m a n is th e a s s is t
a n t cash ier.
M r. P e te rs h a s ju s t finished h is seco n d y e a r as c a sh
ie r of th e M o h all S ta te B ank.
AUGUST HOEFS ELECTED VICE-PRESIDENT
OF THE CITIZENS NATIONAL BANK,
HANKINSON, N. D.
A t th e a n n u a l sto c k h o ld e rs ’ m e e tin g of th e C itizen s
N a tio n a l B an k o f H a n k in s o n , N . D ., th e fo llo w in g
officers w e re e le c te d : P re s id e n t, E . H u n g e r; vicep re sid e n t, A u g u s t H o e fs ; ca sh ie r, H u g o K ra u tk re m e r,
an d a s s is ta n t c a sh ie r, A . P . A rn e so n .
T h e d ire c to rs a re : E . H u n g e r, A u g u s t H o efs, H u g o
K ra u tk re m e r, C has. L ie rm a n n , W m . S c h u e tt, O. L.
L in d ek e , Geo. S tro eh l.
W. C. TURNER ELECTED PRESIDENT OF THE
BANK OF LEOLA, N. D.
W . C. T u r n e r h a s b een e lec ted p re s id e n t of th e B an k
of L eola, N . D ., to su cceed C h arles T u rn e r, deceased.
G. H . T u r n e r w ill re m a in as c a s h ie r an d L. J. T u rn e r
as a s s is ta n t ca sh ie r. L. E . T u rn e r, w h o h a s b een co n
n e c te d w ith th e F a rm e rs a n d M e rc h a n ts B an k of
F o rb e s, N . D ., a n d w ith th e F o rb e s S ta te B an k fo r th e
p a s t th re e y e a rs, w ill also b eco m e a sso c ia te d w ith his
b ro th e rs in th e B an k o f L eola.
W . C. T u r n e r h a s b een an ac itv e w o rk e r in th e b an k
fo r y e a rs a n d is th o ro u g h ly fa m ilia r w ith e v e ry b ra n ch
of th e b u sin ess.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
a
robbery
J. L. OPFER AND ELMER OPFER SELL THEIR
INTEREST IN THE FIRST STATE
BANK, ENGLEVALE, N. D.
T h e sto ck in th e F ir s t S ta te B an k of E n g lev a le , N.
D ., b elo n g in g to J. L. an d E lm e r O p fe r h as b een p u r
ch a sed b y G. L. S tro b eck , of C ogsw ell, J. S. U llan d , of
F e rg u s F alls, M inn., W m . N a ru m , of E n g lev a le , an d
V . C. Je n se n , of E llio tt. T h e officers a r e : G. L. S tro
beck, p re s id e n t; J. S. U lland, v ic e -p re sid e n t; W m .
N a ru m , cash ier.
T h e d ire c to rs a re M essrs. S tro b eck , N a ru m an d
Jen se n .
GRAND FORKS CLEARINGS FOR 1915 PASS
$22,000,000 MARK.
B an k c lea rin g s fo r th e y e a r 1915 in G ra n d F o rk s,
N. D ., exceed th o se of 1914 b y m o re th a n tw o a n d a
h alf m illion d o llars.
T h e c lea rin g s fo r 1915 a m o u n te d to $22,606,600,
w h ile in 1914 th e to ta l w as $20,005,700. T h is is a
sp len d id in d icatio n of th e im p ro v in g b u sin e ss con d i
tio n s of th e city.
T h e g a in in b a n k c lea rin g s is la rg e ly a ttrib u te d to
th e fa c t th a t fa rm ers, w o rk e rs in all tra d e s an d p ro fes
sio n s a n d th e sm all b u sin e ss m en h av e b een able to
p u t a w a y m o re cash as sav in g s th is la s t y e a r th a n for
m a n y y ea rs.
BANK DEPOSITS IN FARGO SHOW INCREASE
OF $3,338,000 IN THE PAST TWELVE
MONTHS.
T h e to ta l d ep o sits in th e b an k s, t r u s t co m p an ies an d
sav in g s an d lo an in s titu tio n s of F a rg o , N . D ., a m o u n t
to $10,458,574.46, sh o w in g an in cre ase o v e r 1914 of
$3,338,576.90. T h is sp eak s v o lu m es fo r th e p ro s p e rity
of th e s ta te a n d of F a rg o .
G en erally o v e r th e s ta te th e b a n k s re p o rt in cre ases
in b o th d ep o sits a n d reso u rces, sh o w in g th a t th e p ro s
p e rity of N o rth D a k o ta is n o t confined to a n y p a rtic u
la r sectio n , b u t is in evidence in ev ery co u n ty .
NORTH DAKOTA NEWS AND NOTES.
T h e d ire c to rs of th e C olfax B an k , C olfax, N . D.,
h eld th e ir a n n u a l m e e tin g re c e n tly an d re-elected all
th e old officers w ith C h arles T u ttle as p re sid e n t.
C. R. E n g le sta d , w h o h as b een co n n e cted w ith th e
S can d in av ia n -A m eric an B ank, M in o t, N . D ., fo r n e a rly
e ig h t y ea rs, h as re sig n e d h is p o sitio n a n d h as p u r
ch ased an in te re s t in th e M oore M o to r C om pany.
T H E
F e b ru a ry , 1916
N O R T H W E S T E R N
B A N K E R
•
83
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McNAMARA-KENWORTHY COMPANY, Des Moines, Iowa
A c co rd in g to th e s ta te m e n ts of th e b a n k s of F a rg o ,
N . D ., a n d t r u s t com panies, m ad e in ac co rd a n ce w ith
th e la s t call o f th e c o m p tro lle r of th e c u rre n c y for
D e cem b er 31, 19i5, th e re are $10,255,113.21 d ep o sited
in th e se in s titu tio n s .
E in a r P e d e rso n h as sold th e c o n tro llin g in te re st in
th e B u rt S ta te B an k , B u rt, N . D ., to W m . B.
T s c h a rn e r, of th e M e rcan tile S ta te B an k of M in n e
apolis.
C. W . R o ss, re c e n tly re tire d as ca sh ie r of th e N o rth
ern S ta te B an k of G ra n d F o rk s, N . D., b u t still re ta in s
h is in te re s t in th e b an k .
I t is Sim coe, N . D ., th a t claim s th e d istin c tio n now
as th e ric h e st c ity in th e U n ite d S ta te s. S im coe has
b a n k d ep o sits th a t a v e ra g e $2,081.72 p e r cap ita. T h e re
a re o n ly tw e n ty -se v e n m en, w o m en an d ch ild ren in
th is v illage.
E lm e r A n d e rso n h as re sig n e d from th e em ploy of
th e P io n e e r S ta te B an k a t L u v ern e, N . D ., an d has
ac cep ted a p o sitio n in th e T h o m p so n -M c D e rm o t sto re
a t C o o p ersto w n .
K a th ry n , N . D ., is to h av e a n ew fa rm e rs bank.
A m o n g th e p ro m o te rs a r e :
H a n s Je n se n , M artin
T h o re so n , H . H . H e ilan d , P e te r K n u te so n an d R asm u s
O lsb erg .
R a y Ja c o b so n h as accep ted a p o sitio n in th e Scand in av ian -A m erica n B an k of G ra n d F o rk s, N . D.
L. R. H a n sc h , w h o h as b een em ployed in th e F ir s t
S ta te B an k of M o tt, N . D., h as accep ted th e p o sitio n
m ad e v a c a n t b y J o h n G allo w ay in th e F a rm e rs S ta te
B an k of B en tley , N . D .
J o h n R . Jo n es, of H a n k in so n , N. D ., an d Jas. M c
C ann, of W y n d m e re , N. D ., a re in te re ste d in th e
e sta b lish m e n t of a n ew b a n k a t M c In to sh , S. D .
B an k s ta te m e n ts are an u n fa ilin g sign of p ro sp e rity .
B ism arck , N . D ., b a n k s h av e on d ep o sit a t th e p re se n t
tim e, ac co rd in g to th e s ta te m e n ts ju s t issu ed re cen tly ,
$3,147,238.11.
A n in cre ase of m o re th a n $5,000,000 in a y e a r in
b a n k d ep o sits of eig h t of th e le a d in g cities of N o rth
D a k o ta , re p re s e n tin g a co m b in ed p o p u la tio n of o nly
51,000, is th e sh o w in g in figures b e in g g iv en o u t by
C. W . G raves, s e c re ta ry of th e G ra n d F o rk s C om
m ercial C lub. M o re th a n $3,000,000 in crease is fo u n d
in G ra n d F o rk s a n d F a rg o .
T h e sto ck h o ld ers of th e F a rm e rs an d M e rc h a n ts
B ank, C ogsw ell, N . D ., h eld th e ir re g u la r a n n u a l m e e t
in g re c e n tly an d th e officials of th e b an k w e re all re
elected. T h e b u sin ess of th e b a n k u n d e r th e p re se n t
m a n a g e m e n t h as b een fo u n d v e ry s a tisfa c to ry an d
sh o w s a nice in cre ase fo r th e y ea r. T h e d ep o sits h av e
in cre ased from $19,000 to $78,000.
D u rin g th e p a s t y e a r th e d ep o sits of th e F a rm e rs
S ta te B an k a t H a n n a fo rd , N . D ., h av e in cre ased o v er
70 p e r cen t.
T h e F ir s t N a tio n a l B an k no w h as a cap ita l of $50,000
a n d a su rp lu s of $12,500 a n d th e S av in g s b a n k h as a
ca p ita l of $12,500 an d su rp lu s of $6,000.
This Bank’s value to its correspondents is in
the quality and thoroughness of its service —plus
financial strength and large resources.
The M echanics and M etals National Bank
OF THE CITY OF N E W YORK
Total R esou rces (Dec. 31,1915)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
$232,000,000
84
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
In All That is Good Iowa Affords the Best
LIFE INSURANCE and GOOD BANKING
Among the bankers who are policy holders:— George E. Roberts, Leslie M. Shaw, Ralph Van
Vechten and TWO HUNDRED and FORTY OTHER BANKERS in IOWA.
Homer A. Miller, President of the Iowa National Bank, Des Moines Iowa, was insured for
$2,000 for twenty years, paid in premiums total $1,192, had the option of a cash settlement of
$1,596, giving 20 years’ insurance and $404 profit.
This Company Makes Results—Not Estimates
FRANK D. JACKSON, President
SIDNEY A. FOSTER. S ecretary
Royal Union Mutual Life Insurance Company,
Correspondence Solicited
Agents Wanted
R e o rg a n iz a tio n of th e D u n n C o u n ty S ta te B an k of
M a n n in g , N . D ., p re p a ra to r y to its tra n s fo rm a tio n in to
a n a tio n a l b an k , h a s b een co m p leted , w ith H . N.
O w e n s, c a sh ie r, a n d R o b e rt L. W ilc o x , p re sid e n t, an d it
w ill be k n o w n as th e F ir s t N a tio n a l B an k — th e first
n a tio n a l b a n k o rg a n iz e d in th e c o u n ty . I t w ill h av e
a c a p ita l o f $25,000.
N o rth D a k o ta ’s b an k s, a t th e close of 1915, h ad d e
p o sits w h ich h av e n e v e r y e t b een su rp a sse d . In th e
650 s ta te b a n k s a n d 150 n a tio n a l b a n k s th e a g g re g a te
of d ep o sits is co n sid e ra b ly o v e r one h u n d re d m illions.
T h e F ir s t a n d S e c u rity N a tio n a l B an k , M inn eap o lis,
h as b een a p p ro v e d as re se rv e a g e n t fo r th e N a tio n a l
B an k of L a rim o re , N. D .
ACCURACY
isthe basic principle of the
REMINGTON
Adding^andjSubtractin g
TYPEWRITER
(Wahl Adding
Mechanism)
This machine is not only accurate itself, but it en
forces accuracy on those who use it. Likewise it ad
monishes to accuracy every clerk on whose work it
affords a check.
Fewer errors are made in every bank where the Rem
ington Adding and Subtracting Typewriter is used.
Why? Because every clerk knows that this machine
will infallibly detect his errors, and this knowledge
makes him more careful in everything that he does.
Thus, the machine adds accuracy to mechanical laborsaving in bank remittance work, customers’ monthly
statement work, country bank statement work, and all
work where writing and adding are done on the same
page.
REMINGTON TYPEWRITER COMPANY
(Incorporated)
208 Fiflh St.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- - - Des Moines, Iowa
DES MOINES, IOWA
THIN SKINNED PEOPLE.
(C o n tin u e d fro m p a g e 32.)
p a p e r to ta k e th e place of th e b ad stu ff— an d n o w h e is
serv in g tim e. Friends, it isn’t worth the price.
H a p p y is th e b a n k e r w h o is on te rm s of p erfec t
fran k n ess, fa irn ess a n d tr u th w ith his asso c ia te officers,
his d irec to rs, an d , b e tte r, h is ju n io rs.
I k n o w it is n o t a lto g e th e r ea sy to go u p a g a in s t a
b o a rd of d irec to rs, an d I am s e ttin g no easy ta s k w h en
I p re sc rib e fo r th em , a tre a tm e n t of tru th . T h is d ire c to r
b u sin e ss is a c u rio u s p ro p o sitio n , an y w ay . In th e a g
g re g a te , th e y are th e s a lt of th e e a rth , a n d I h e re an d
n o w y ield to th e m m y trib u te of re sp e c t fo r th e ir s e rv
ice in a p e c u lia rly e m b a rra s s in g p o sitio n . T h e re are
tw e n ty -se v e n th o u s a n d b a n k s in th e U n ite d S ta te s, an d
I a s s e rt th a t th e d ire c to rs of th e se m a n y b a n k s do m o re
w o rk an d c a rry m o re re sp o n sib ility fo r less p ay th a n
an y b o d y of s e rv a n ts th a t ev er w o rk e d since th e d aw n
of civ ilizatio n .
B u t it is a p e c u lia r p ro p o sitio n , th a t a b a n k e r— one
w h o se life is w o rk e d o u t in th e science of service, one
w h o stu d ies finance a n d w h o deals in cred its, th e m o st
d elicate an d re sp o n siv e influence in th e w o rld , sh o u ld
h av e his ac ts rev iew ed b y a b o a rd of d ire c to rs com
po sed of a S h o rth o rn b re ed er, an old school ph y sician ,
a law y er, a p o litician , a ca n d le stic k m a k e r o r a h o rse
d o c to r !
I f on occasion, w e go o v e r o u r loans w ith th is body,
w e shall n o t find it easy to b a re o u r v e ry so u ls to th e
b u n ch . Y ou re ad o v e r a score o f p rim e loans, an d th e re
is no co m m en t, see m in g ly no im p ress u p o n th e ir co n
scio u sn ess. I f th en , y o u ru n on to a m ean one, even
of little a m o u n t, y o u w ill find th a t th e d iscu ssio n e n su
in g is e n tire ly d isp ro p o rtio n a te to th e size o r im p o rt
ance of th e tra n sa c tio n , an d th e re v ie w ers m a y c a rry
aw ay an im p ressio n of y o u r lo an s q u ite a t v a ria n c e
w ith th e tru th . I th in k I see th e m an d h e a r th e ir co m
m en t. N o. 1 sm iles a s u p e rio r an d in d u lg e n t sm ile
an d re m a rk s, “ O h, w ell, h e ’s h ad th e d r in k s ; g u ess w e
m a y as w ell ap p ro v e it.” T h e n y o u ru n on to a n o th e r
little loan, an d d ire c to r N o. 2 re m e m b ers th a t th is
m a n ’s ste p -fa th e r to o k b a n k ru p tc y , ju s t a fte r th e w a r—
“Y o u ’ll h av e to look o u t, i t ’s in th e b lood 1” T h e n th e
th ird d ire c to r g e ts a look in on a lo an to a Jo n e s a n d h£
re m e m b ers th a t a m an b y th e n am e o f Jo n e s b e a t him
once on a g ro c e ry b ill— look o u t fo r th e J o n e s ! “ I f I
w e re ru n n in g a b a n k I w o u ld n e v e r lo an a d o lla r to a n y
on e u n le ss it w e re a b so lu te ly safe— a b s o lu te ly !” A n d
th e poor, tire d b a n k e r b eh in d th e g u n s looks nice in
th e face b u t u n d e r h is b re a th h e says, “ O H e l l !”
TH E
F e b ru a ry , 1916
N O R T H W E S T E R N
85
B A N K E R
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D e s M o in e s,
'
W R I T E FOR CATALOGUE
D o n ’t m in d th e s e little c ritic a l sy m p o siu m s. T h e y
a re n o t aim ed to d e th ro n e y o u b u t to e x a lt th e speaker.
S o m e tim es I th in k th a t k n o c k in g is th e k in g of in d o o r
sp o rts.
So I sa y to y o u b a n k e rs, Y o u h av e o n ly a job, an d
n o t m u ch of a jo b e ith er, y o u w h o h av e th e p riv ileg e
of c a rry in g th e c o m m u n ity ’s tro u b le s, of b e a rin g tr e
m en d o u s re sp o n sib ilitie s, w o rk in g lo n g h o u rs a t scab
w a g e s, y o u r jo b is n ’t w o rth ly in g to a n y m an — b e tte r
o u t, w ith self re sp ect, th a n in, w ith a g re a sy feelin g in
y o u r soul.
I t is one of th e c h a ra c te ris tic s of th e b a n k e r’s life
th a t h is p ro b le m s a re cu m u la tiv e , like th e p ro m ised
d iv id en d s on c e rta in p re fe rre d sto ck s, th e lo n g e r he
s ta y s in a lo catio n , m o re p eo p le k n o w him , m o re com e
to lean u p o n him , a n ew g e n e ra tio n com es alo n g look
in g to him fo r g u id a n c e — a n d I tell y o u , he m u st u n lo ad
or die. H e m u s t h a v e s h a re rs of th e se p ro b lem s in his
asso ciates, he m u s t ta lk w ith th e a s s is ta n t ca sh ie r b elo w
him , w ith th e p re s id e n t ab o v e him , a n d w ith th e finance
c o m m itte es, et c e te ra. T o g e th e r th e y m u s t stu d y cred
its, th e m o st in te re stin g , m an y -sid ed , kaleidoscopic
p ro b lem of th e w orld . I t w o n ’t do to m e re ly ac cep t th e
d ictu m of som e official th a t “Jim S m ith is. all rig h t,”
n o r to place all relian ce on th e g o ssip of th e b o rro w e r’s
n eig h b o rs.
Y o u c a n ’t lo an on g o v e rn m e n t b o n d s, n o r on Io w a
farm m o rtg a g e s— n o t if y o u are ru n n in g a com m ercial
bank. Y o u loan on c re d its now , an d y o u w ill to th e
end of th e c h a p te r, a n d ju s t 3s y o u stu d y an d m a s te r
th e e v e rla stin g p rin cip les u p o n w h ich c re d it depends,
w ill y o u be able to say “ Y e s” to th e o w n e r of to m o r
ro w an d “ N o ” to th e n e ’er-do-w ell an d w ill y o u b u ild
for th e g re a tn e s s of y o u r bank.
I h av e said th a t y o u m u s t confide a n d c o n s u lt^ I
ag ain affirm it, a n d a s s e rt th a t if an y b a n k e r is like
N apoleon, s ta n d in g in so lita ry g ra n d e u r, an d is th e
w hole w o rk s from m a in sp rin g to h a irsp rin g , th e n he
isn ’t h alf a b a n k e r, I d o n ’t care if h e h as fo rty m illions
on deposit.
W h a t are som e of th e influences th a t m ilita te a g a in s t
th is d eg ree of c o n su lta tio n ? W e ll, in. th e first place,
g ra ft in an y of its m an y form s, is fa ta l to co n su ltatio n .
(C o n tin u e d on p ag e 89.)
MEMORIALS THAT
COMMEMORATE
Q U A L IT Y , B E A U T Y O F D E
S IG N , F A U L T L E S S W O R K M A N
S H I P A N D E F F I C I E N T S E R V IC E
— th e s e a r e t h e f u n d a m e n t a l s o f
o u r b u s in e s s . Y o u w i l l fin d i t so
w h e n y o u co m e h e r e .
D e s M o in e s, l a ., O ct. 30, 1909.
C a p ito l H ill M o n u m e n t Co.,
D e s M o in e s, I o w a .
D e a r S irs :— I h a v e y o u rs o f th e
2 6 th in s t . T h e m o n u m e n t w h ic h
y o u e r e c te d f o r m e a y e a r a g o is
i n e v e r y w a y s a t i s f a c t o r y . I t is
b e a u t i f u l in i t s d e s i g n a n d p e r
fe c t in its c o n s tru c tio n ,
Y o u r s v e r y t r u ly ,
A l b e r t B. C u m m in s .
CAPITOL HILL MONUMENT
COMPANY
P.
B. SBERRIFF. P res.
Des Moines, Iowa
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
86
T H E
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916
D. E. CHAMBERLIN AND G. A. MALCOLM th e D ro v e rs N a tio n a l B an k , C hicago, 111.
ELECTED ASSISTANT CASHIERS OF DRO
B o th are am b itio u s, clean -cu t y o u n g m en an d h av e
VERS NATIONAL BANK, CHICAGO.
w o rk e d th e m se lv e s up from th e b o tto m of th e lad d er.
D ale E . C h am b erlin a n d G eo rg e A . M alco lm w ere
elected as a s s is ta n t c a sh ie rs a t th e a n n u a l m e e tin g of
B an k in g , p e rh a p s m o re th a n a n y o th e r b u sin ess, d e
p e n d s u p o n th e p erso n a l a c q u a in ta n c e of officials an d
DALE E. CHAMBERLIN,
Assistant Cashier
Drovers National Bank, Chicago
G. A. MALCOLM,
Assistant Cashier,
Drovers National- Bank, ¿Chicago
Century Savings Bank
at
Des M oines, Iow a
With a record of steady and constant growth, proving thereby a
satisfactory service to customers, is willing and anxious to extend its
facilities and solicits correspondence or a personal interview with
those desiring a new or additional connection in Des Moines.
When any of your friends are coming to the Capital City, please
direct them to us.
L. E. STEVENS, P resid en t
B. B. VORSE, C ashier
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J. M. CALLANDER, V ice-P res.
J. E. MORTON, A sst. C ashier
F e b ru a ry , 1916
T H E
N O R T H W E S T E R N
c o m p e te n t re p re s e n ta tiv e s. D u rin g th e tim e t h a t M r.
C h a m b e rlin a n d M r. M alco lm h a v e b een a tte n d in g
b a n k e rs ’ c o n v e n tio n s a n d c a llin g o n b a n k e rs th ro u g h
o u t th e m id d le w e st, th e y h a v e m a d e a h o s t of frie n d s
w h o h a v e e n jo y e d n o t o n ly th e ir p le a sin g p erso n alities,
b u t also th e ir s tric t a tte n tio n to all b u sin e ss e n tru s te d
to th e m .
M r. C h a m b e rlin is a c o u n try p ro d u c t, h a v in g s ta rte d
ed in th e b a n k in g b u sin e ss a t A lp h a , 111., sev e ral y e a rs
ago.
M r. M alco lm s ta rte d h is c a re e r a t th e B an k ers N a
tio n a l B an k , an d u n til re c e n tly , w a s co n n ected w ith
th e F o r t D e a rb o rn N a tio n a l B ank.
T h e m a n y frie n d s of D a le a n d G eo rge, as th e y are
o fte n called, w ill be p le a se d to le a rn of th e ir w ell d e
se rv e d p ro m o tio n s.
B A N K E R
87
tio n s th ro u g h o u t th e U n ite d S ta te s is p ro v in g a valu-s
ab le a s s e t to h im in th e b a n k in g b u sin ess.
JOHN J. LARGE ELECTED PRESIDENT OF
THE FIRST NATIONAL BANK,
SIOUX CITY, IOWA.
J o h n M c H u g h h as re tire d fro m th e p re sid e n c y of
th e F ir s t N a tio n a l B an k of S io u x C ity , Io w a , an d h as
b een su cceed ed b y J o h n J. L a rg e , th e first v ice-p resi
d en t. M r. M c H u g h h a d c o n tin u e d to serv e in th e
p re s id e n t’s c h a ir a fte r h is d e p a rtu re fro m S io u x C ity
C. A. DIEHL ELECTED ASSISTANT CASHIER
OF THE DES MOINES NATIONAL BANK.
A t th e a n n u a l elec tio n o f officers of th e D es M oines
N a tio n a l B an k C. A. D ieh l, w h o fo r th e p a s t y e a r h as
JOHN J. LARGE,
Elected President of the First National
Bank of Sioux City, Iowa, to succeed
John McHugh, who is now VicePresident of the Mechanics and
Metals National Bank of
New York.
C. A. DIEHL,
Assistant Cashier,
Des Moines National Bank, Des Moines,
Iowa.
h a d c h a rg e of th e d e p a rtm e n t of n e w b u sin ess, w as
ele c te d a n a s s is ta n t ca sh ie r.
P r io r to b e c o m in g a sso c ia te d w ith th e D es M oines
N a tio n a l B a n k in th e fall of 1914, M r. D ieh l h ad h ad
a n u m b e r of y e a rs of co m m ercial ex p e rien ce in N ew
Y o rk C ity. B efo re th a t tim e h e w a s in th e a b s tra c t
a n d fa rm lo an b u sin e ss in Io w a a n d h a d s p e n t a y e a r
in th e U n ite d S ta te s In d ia n serv ice in A rizo n a.
M r. D ie h l’s e x p e rien ce a n d fa m ilia rity w ith co n d i
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
la s t su m m e r to becom e v ic e -p re sid e n t of th e M ech an ics
a n d M etals N a tio n a l B a n k o f N e w Y o rk . H e w ill re
ta in h is in te re s t in th e S io u x C ity b a n k a n d w ill
re m a in a m e m b e r of th e b o ard .
A t th e a n n u a l m e e tin g o th e r officers of th e b a n k
w e re re-elected as fo llo w s: F . A. M cC ornaC k, vicep re s id e n t; H . A . G ooch, v ic e -p re sid e n t ; L. H . H e n ry ;
v ic e -p re sid e n t; O. D . P e ttit, cash ier, an d F ritz F ritz son, a s s is ta n t cashier.
ROYAL UNION MUTUAL LIFE INSURANCE
CO., DES MOINES, MAKES CONTINUED GAIN.
T h e th irtie th a n n u a l s ta te m e n t of th e R o y al U n io n
M u tu a l L ife In s u ra n c e C o m p an y of D es M oines sh o w s
88
T H E
N O R T H W E S T E R N
th é re m a rk a b le su ccess of a co m p a n y t h a t confines its
field of o p e ra tio n s to a c o m p a ra tiv e ly sm all te rrito ry .
T h e R o y al U n io n so licits b u sin e ss in th e s ta te s of Io w a ,
M issou ri, K a n sa s , O h io an d P e n n s y lv a n ia o n ly . T h e
p re s e n t size a n d s tr e n g th of th e co m p a n y sh o w s w h a t
can be ac co m p lish e d b y a g o o d p ro p o sitio n , w ith good
m a n a g e m e n t, ev en in a sm all field.
T h e c o m p an y issu e d a n d re s to re d in 1915 in su ra n c e
to th e a m o u n t of $8,795,468, a g a in o v e r th e p re v io u s
y e a r of $1,828,123. T h is sp le n d id g a in o v e r th e y e a r
b efo re is a g o o d ev id en ce of th e confidence in w h ich th e
co m p an y is h eld b y th e p ublic. T h e in s u ra n c e in force
GUSTAV STUEBBN,
Cashier of the Scott County Savings Bank,
Davenport, Iowa, and President of the
Davenport Clearing House Asso
ciation.
w as in c re a se d d u rin g th e y e a r b y $4,461,454 a n d th a t
to ta ls $39,407,050. T h e a d m itte d a s s e ts a m o u n t to
$5,475,227, a g a in o v e r la s t y e a r of $680,779.
; T h e aissets a re m ad e u p a lm o s t w h o lly of first m o rt
g ag e re al e s ta te lo an s a n d p o licy lo an s, th e in v ested
guilds; y ie ld in g 6.22 p e r ce n t. T h e c o m p a n y ca rrie s
w ith th e s ta te of Io w a fo r th e p ro te c tio n of its p o licy
h o ld e rs $5,388,769, a n in c re a se o v e r la s t y e a r of $498,026; T h e s u rp lu s to p o lic y h o ld e rs w a s in c re a se d d u rin g
1915 to $681,266 a fte r p a y in g all d e a th claim s, endow m eh ts, d iv id en d s a n d s u rre n d e r v a lu e s $605,294, an d
m a n a g e m e n t ex p e n ses a n d s e ttin g asid e a p o licy re
serv e of $5,060,783.
T h e R o y a l U n io n L ife c e rta in ly h a s h a d a sp len d id
year, a n d its p o lic y h o ld e rs h a v e e v e ry re a so n to> rejo ice
th a t th e m a n a g e m e n t a re ab le to m a k e so g o o d a sh o w
ing. T h e R o y al U n io n is th e p io n e e r old lin e m u tu a l
life co m p an y in th e c e n tra l M ississip p i v alley . I t h as
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
B A N K E R
F e b ru a ry , 1916
b een u n d e r th e c o n tin u o u s m a n a g e m e n t of F ra n k D .
Jac k so n a n d S id n ey A . F o s te r a n d th e g re a t success of
th e in s titu tio n h as b een due in a v e ry la rg e m e a su re to
th e ir c o n se rv a tiv e m a n a g e m e n t a n d to th e confidence
th e y h av e in sp ired .
CENTRAL LIFE ASSURANCE SOCIETY, DES
MOINES CONTINUES TO INCREASE.
F ro m a o n e-ro o m office to th e sp len d id h o m e office
b u ild in g n o w o w n ed an d occu p ied b y th e C e n tra l L ife
A ssu ra n c e S ociety, D es M oines, of w h ich Geo. B. P e a k
is p re sid e n t, is b u t on e evid en ce of th e d ev e lo p m e n t of
th e b u sin ess. F ro m no b u sin ess, to in su ra n c e in force
o f $41,714,829 a n d all w ith in tw e n ty y e a rs, is th e
b e s t evid en ce of w h a t can b e acco m p lish ed b y m en of
visio n w h o m ak e re a litie s of v isio n s b y th e h a rd , p a in s
ta k in g g rin d of d aily w o rk co u p led w ith th e g o o d m a n
a g e m e n t th a t m u s t go h a n d in h a n d w ith su ch w o rk to
ach iev e success. M r. P e a k h as b een m o s t h a p p y in h is
selectio n of m en to w o rk w ith him a n d th e p re s e n t
s ta n d in g of th e c o m p an y sh o w s w h a t th e y h av e acco m
plished.
T h e n ew in su ra n c e sec u red d u rin g 1915 w a s $11,563,284, an in cre ase o v e r th e p re v io u s y e a r of $625,982,
w h ile th e in su ra n c e in force ad v a n ced to $41,714,829,
a g ain fo r th e y e a r of $4,855,431. T h e p o licy re serv e of
th e co m p an y is n o w $3,328,499, an in cre ase of $553,404,
all d ep o sited w ith th e s ta te u n d e r th e Io w a re se rv e
d ep o sit law fo r th e s e c u rity of p o licy h o ld ers. D u rin g
th e y e a r th e c o m p an y p aid to p o licy h o ld ers $285,369,
a n d a fte r p a y in g all ex p en ses, in c lu d in g ta x e s, h ad a
b alan c e of incom e o v er d isb u rse m e n ts of $627,843. T h e
a sse ts of $4,053,284 is an in cre ase of $627,939. O f th e
a sse ts $2,987,337 is in v e ste d in first m o rtg a g e re al es
ta te loans an d th e b alan c e in po licy lo an s, b o n d s, cash,
th e h o m e office b u ild in g , etc. T h e s u rp lu s d u rin g th e
y e a r w as in cre ased b y $53,359, a n d n o w s ta n d s a t
$619,380.
T h e slp g an fo r 1916 is $50,000,000 of in su ra n c e in
force b y D e c e m b e r 31st.
W ith a g ro w th of a s s e ts fro m $2,972 in 1896 to $4,053,284 in 1916, a n d a g ro w th of in su ra n c e in force from
$256,000 in 1896 to $41,714,829 on J a n u a ry 1, 1916, is a
re co rd u n ex c elled a n d a g e n ts as w ell as officers h av e
p a rd o n a b le p rid e in th e re m a rk a b le su ccess th e y h av e
achieved.
PRESIDENT WILSON ENDORSES THRIFT
CAMPAIGN.
A t th e b e g in n in g of th e c e le b ra tio n of th e on e h u n
d re d th a n n iv e rs a ry of th e e sta b lish m e n t in th is c o u n try
of sa v in g s b a n k s, w h ich is to be c o n d u c te d th ro u g h o u t
th e c o u n try d u rin g th is y e a r a n d c u lm in a te in a co n
v e n tio n in N ew Y o rk C ity n e x t D ecem b er, th e re h a s
ju s t b ee n receiv ed b y th e A m e ric a n B a n k e rs A sso cia
tio n a te le g ra m from P re s id e n t W ilso n as follow s : “ I
sy m p a th iz e m o s t sin c e re ly w ith th e c a m p a ig n to p ro
m o te th rift. I th in k e v e ry p ru d e n t a n d th o u g h tfu l m a n
m u s t.”
T h e o b je c t of th e ca m p a ig n is to te a c h th e ch ild re n
th r if t th ro u g h th e e s ta b lish m e n t of school sa v in g s
b a n k s ; to e n c o u ra g e th e p eo p le to sav e a n d c o n se rv e
b y se c u rin g th e c o -o p era tio n of th e n e w sp a p e rs in th e
v ario u s c o m m u n itie s to p rin t sh o rt, te rs e a rtic le s on
th r if t s e n t o u t re g u la rly b y th e A m e ric a n B a n k e rs A s
so ciatio n , an d in c o n d u c tin g local th r if t c a m p a ig n s in
th e d iffe ren t cities, ad d re sse s b e in g g iv en a n d m o tio n
p ic tu re s sh o w n to p ro m o te th e th r if t h ab it.
F e b ru a ry , 1916
T H E
N O R T H W E S T E R N
B A N K E R
89
SOUTH DAKOTA NEWS AND NOTES.
W e love m en fo r th e ir w e ak n esses, a n d so do w o m en
E.
W . R ad e k e h a s g o n e to W a te rto w n , S. D ., to — if it w e re n o t fo r th is tr a it m o st of u s w o u ld b e o ld
beco m e v ic e -p re sid e n t of th e G. W . H a r t F a rm M o rt b ac h elo rs y et.
N o iv y h as ev er b een seen to clin g to th e co lu m n of
g a g e C o m p an y c a p ita liz e d a t $1,000 a n d d o in g a farm
lo an b u sin e ss in S o u th D a k o ta . M r. R ad e k e h as b een p o lish ed a n d p e rfe c t m a r b le ; it does cling, a n d lo v in g ly ,
c a s h ie r of th e F ir s t S ta te B a n k of S tr a tfo rd for fo u r to th e ro u g h , sc a rre d tr u n k of th e m ig h ty oak, fo r b e
a n d o n e -h a lf y e a rs a n d p re v io u s to th a t tim e w as a s n e a th th a t ro u g h e x te rio r th e re is s tre n g th a n d e n d u r
s is ta n t c a sh ie r of th e M e rc h a n ts B a n k of B ry a n t. H e ance.
So m en clin g to o th e r m en a n d th e re al frie n d
h a s b een in th e b a n k in g b u sin e ss fo r eleven y e a rs in
sh ip s of life a re fo u n d ed in ac ts of sy m p a th y a n d tr u th s
S o u th D a k o ta .
— n ev e r in an o u tw a rd p e rfe c tio n w h ich is a t b e s t b u t a
ven eer. A n d th e b a n k e r w h o w o u ld b in d to h im th e
THIN SKINNED PEOPLE.
re sp e c t a n d s u p p o rt of his d ire c to ra te as w ith h o o p s of
(C o n tin u e d fro m p a g e 85.)
steel w ill n e v e r do it b y an a ssu m p tio n of p e rfe c tio n —
G r a f t th ro w s o u t h is in v ita tio n s p r e tty fre q u en tly . I t b u t o n ly b y an a ttitu d e of tru th .
m a y be a few s h a re s of sto c k fo r o u r influence, an
T h e re is a b e a u tifu l v irtu e in th e w o rld — its n am e is
“ h o n o ra riu m ,” I b eliev e th e y call i t ; it m a y b e a side Frankness. I t is one of th e fo rm s of T r u t h ; in d eed it
p a r tn e r s h ip ; it m ay b e a s u b tle fa v o r o r a co arse rak e- is one of th e h ig h e s t a n d m o st b e a u tifu l m a n ife sta tio n s
o ff ; a t all e v e n ts, w h e th e r it co m es in d e lica te g u ise o r of T ru th . P o e ts h av e n o t s u n g of it as th e y sh o u ld .
co a rse s u g g e s tio n , th e fa c t re m a in s th a t th e b a n k e r W e sin g th e p ra ise s of th e g ra ces, F a ith , H o p e a n d
w h o v e n tu re s o n th is p a th w a lk s in to a flam e th a t w ill C h a rity ; w e la u d b en ev o len ce, fo rtitu d e a n d ju s tic e ;
s e a r h is soul. He c a n ’t co n su lt. He c a n ’t b e frank. b u t m o re b e a u tifu l th a n th e se a n d a v a ila b le to ev e ry
H e h as th e o ld m an of th e sea on h is back.
m an u n d e r th e s h in in g su n is th e v irtu e of F ra n k n e s s,
T h e n th e n e x t p re v e n tiv e is t h a t thinness of skin th a t c a n d o r w h ich s ta n d s w ith all T r u th o v er all c a rp
a b o u t w h ic h I h a v e trie d to tell y o u . I t is u su a lly ac ing, all criticism , all m alice, w ith th e sim p le y e t su b lim e
co m p a n ie d b y h ig h b lo o d p re s su re in t h a t p a r t of th e d ig n ity of Je h o v a h in th e u n q u e stio n e d fiat, “ I am th a t
co sm ic co n sc io u sn e ss k n o w n as self-esteem . T h e v ic I a m !”
tim th in k s it sy m p to m a tic of g ro w th in th e ce re b ru m —
it is re a lly p ro o f of m e n ta l a tro p h y . I t w o n ’t w ork.
I t in s u re s u s no re sp e c t. I t b rin g s u s no love. D id y o u
e v e r reflect t h a t no o ne loves a p e rfe c t m a n ? A t least
no m a n does— w e w a n t th e m like o u rse lv es. D o you
re m e m b e r h o w it w a s, as a boy, w h e n m o th e r cam e
h o m e fro m th e J o n e s ’s a n d s a n g th e p ra ise s of th e ir
W illie ? “H e a lw a y s w ip es h is fe et o n th e m at, an d
DAVENPORT, IOWA
sa y s ‘Y es, m a ’am ,’ a n d ‘N o, sir,’ a n d is as g o o d as an
Commercial, County, City
a n g e l all d ay lo n g .” D id y o u love W illie ? N o, sir—
y o u said to y o u rse lf, “J u s t w a it till I g e t th a t can d y kid
and B a n k Examinations
o u t b ac k of th e b a rn , I ’ll p u n c h h is n o s e !”
C. A. MAST
C ertified P ublic A cco u n tan t
Continental and Com m ercial National Bank
OF CHICAGO
Capital, Surplus and U ndivided P rofits, $33,000,000
OFFICERS
G e o r g e M. R e y n o ld s
A r t h u r R e y n o l d s ......... V i c e - P r e s i d e n t
W illia m T. B r u c k n e r .V i c e - P r e s i d e n t
R a lp h V a n V e c h te n . . .V i c e - P r e s i d e n t
J o h n R . W a s h b u r n . . .V i c e - P r e s i d e n t
A le x . R o b e r t s o n ......... V i c e - P r e s i d e n t
N a t h a n i e l R . L o s c h .....................C a s h ie r
H e r m a n W a ld e c k . . . . V i c e - P r e s i d e n t
H a r v e y C. V e r n o n . . A s s i s t a n t C a s h ie r
J o h n C. C r a f t ................. V i c e - P r e s i d e n t
G e o r g e B. S m i t h . . . A s s i s t a n t C a s h ie r
J a m e s R . C h a p m a n . . .V i c e - P r e s i d e n t
W i l b e r H a t t e r y . . . .A s s i s t a n t C a s h ie r
H . E r s k i n e S m ith . .A s s i s t a n t C a s h ie r
P re s id e n t
W ils o n W . L a m p e r t A s s i s t a n t C a s h ie r
D a n N o r m a n .............. A s s i s t a n t C a s h ie r
G e o r g e A. J a c k s o n . A s s i s t a n t C a s h ie r
J o h n F . C r a d d o c k . M g r. C r e d i t I> ept.
J o s . M c C u r r a c h . . M g r. F o r e i g n D e p t.
R . G. D a n i e l s o n . .M g r. T r a n s i t D e p t.
Accounts of Banks, Bankers, Manufacturers, Merchants and Individuals Invited
Continental and Commercial Trust and Savings Bank
Capital, Surplus and U ndivided Profits, $5,000,000
Truit, Savings and Bond Departments
OFFICERS
G e o r g e M. R e y n o ld s .....................................P r e s id e n t
J o h n J a y A b b o tt......... V ic e - P r e s id e n t
F r a n k H . J o n e s ........................S e c r e ta r y
H e n r y C. Olco’t t . . . .M g r. B o n d D ep t.
A r th u r R e y n o ld s ..........V ic e - P r e s id e n t
W m . P . K o p f .................A s s ’t S e c r e t a r y
R o b e r t J. H e r c o c k .......... A s s ’t C a sh ier
C h a r le s C. W i l l s o n ..................... C a sh ie r
A lb e r t S. M a r tin .............. A s s ’t C a sh ie r
The Capital Stock of this bank ($3,000,000) and the Capital Stockof the Hibernian Banking Association ($2,000,000) are
owned by the Stockholders of the Continental and Commercial National Bank of Chicago.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
T H E
90
N O R T H W E S T E R N
B A N K E R
F e b ru a ry , 1916:
T h e N a t io n a l B a n k o f th e
REPUBLIC
OF
CHICAGO
continues to o ffer banks and bankers tbe
advantages o f its fa c ilitie s, developed and
perfected b y n e a r ly t w e n ty -fiv e y ea rs o f
close personal relations w it b a con stan tly
grow in g lis t or correspondents th rou gh
out tb e w o r ld .
OFFICERS
JOHN A, LYNCH. . . . President O. H. SWAN, . . . . .
Cashier
W . T . FENTON, . 1st Vice-President WM . B. LAVINIA, . . Asst. Cashier
R. M. McKINNEY, 2nd Vice- President THOS, D. ALLIN, . . Asst. Cashier
JAMES M. HURST, 3rd Vice-President LOUIS J. MEAHL, . . Asst. Cashier
A Service based on
the facilities and
experience gained
during half a cen
tury is extended to
banks and bankers
by the First National
Bank of Chicago.
Correspondence is
invited by this
old, strong and
conservative bank.
EDWIN G. RAGSDALE, S e c r e t a r y
IOWA LITHOGRAPHING
COM PANY
DES MOINES - - - - - IOWA
E stab lish ed 1856
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
F e b ru a ry , 1916
TH E
N O R T H W E S T E R N
91
B A N K ER
THIRTY-FIFTH ANNUAL STATEMENT
IOWA STATE TRAVELING MEN’S ASSOCIATION
ORGANIZED 18S0
SECRETARY-TREASURER’S STATEMENT
R E C E IP T S
Jan . 1, 1915, B alan ce (B o th P 'u n d s ) ................................... ................................
$147,124.32
T o M em b ersh ip F e e s ........................................................... ................. ...... ....$ 14,636.00
A sse ssm e n ts . . . ................................................................. ................................ 397,706.00
D u e s ......................................................................................... .............................. 49,279.00
I n te r e s t ........... ............. ........................................................ .... .. ................ ..
7,451.62
A ll O th e r S o u rc e s ............................................................................................ ..
571.39 469,644.01
$616,768.33
D IS B U R S E M E N T S
B y C laim s ...................................
G en eral E x p e n s e .............................................................................
R e fu n d s .......................................
$394,622.61
66,697.05
3,163.00 $464,482.66
J a n u a ry 1, 1916, B alan ce as fo llo w s:
C ertificates of D e p o s it............................................ .. ...................................... $100,000.00
D es M oines S chool B o n d s ...................... ................... ; ................................... 50,000.00
C ash in B a n k .................... .......... ........................................................................
2,285.67
152,285.67
$616,768.33
M em b ersh ip , J a n u a ry 1, 1 9 1 6.. .................................................................. .... ............... ..
52,974
N e t G ain in M em b ersh ip in 1915....................................................... ................. ...............
1,915
C laim s P a id in 1915...................................................................................... ..........................
3,751
N u m b e r C laim s p e r 1,000 M e m b e rs ........................................................................ * ....
72
T o ta l B enefits P aid , 1915........................................................................................................ $378,449.05
C ash B alance, J a n u a ry 1, 1916...................................................................................... ..
152,285.67
C o st p e r M em b er, 1915.................... .....................................................................................
9.00
BENEFITS IN CASE OF ACCIDENT
A c c id e n ta l D e a th .................... ....................................................................... $
L oss of B o th H a n d s, F e e t or E y e s ............................................................
L o ss of O n e H a n d , F o o t or E y e . . ...........................................................
W e e k ly In d e m n ity (104 W e e k s ) ................................................................
W e e k ly In d e m n ity ( P a r tia l D isa b ility ) ...................................................
5,000.00
$ 10,000.00
5,000.00
1,250.00
25.00
12.50
BENEFITS PAID OUT SINCE ORGANIZATION ............. /. .$4,092,881.01
J. W. HILL, President
L. C. DEETS, Secretary-Treasurer
WILL E. TONE, Vice-President
BOARD OF DIRECTORS:
T. B. Cookerly
Jas. L. Hunt
Wm. H. Smith
James M. Bowie
John A. Blanchard
Dorsey Hunnell
Geo. E. Hamilton
Ralph A. Proudfit
Jno. D. Carpenter
M. S. Cohen
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
92
T H E
N O R T H W E S T E R -N > B A N K E R
The Chase National Bank
F e b ru a ry , 1916
Stock Yards National Bank
of the City of New York
of South Omaha
57 Broadway
UNITED STATES DEPOSITORY
Capital
.
.
.
.
Surplus and Profits (Earned)
Deposits
.
.
.
.
$
5,000,000
9,911,000
267,015,000
O F F IC E R S
A. Barton Hepburn, Chairman
Albert H. Wiggin, President
Samuel H. Miller, v.-Pres.
Edwin A. Lee, Ass’t. Cash.
Edward R. Tinker, V.-Pres.
William E. Purdy, Ass’t. Cash.
Carl J . Schmidlapp, Vice-President Chas. D. Smith, Ass’t. Cash.
Alfred C. Andrews, Cash.
William P. Holly, Ass’t. Cash.
Chas. C. Slade, Ass’t. Cash.
George H. Saylor, Ass’t. cash.
M. Hadden Howell, Ass’t. Cash.
D IR E C T O R S
H E N R Y W . CANNON
JO H N J. M IT C H E L L
A. B A R T O N H E P B U R N
GUY E. T R IP P
A L B E R T H . W IG G IN
JA M E S N. H IL L
G EO R G E F. B A K E R , JR .
D A N I E L C. J A C K L I N G
F R A N C IS L. H IN E
F R A N K A. S A Y L E S
C H A R L E S M. S C H W A B
WE RECEIVE ACCOUNTS OF
Banks, Bankers, Corporations, Firms or Individuals
on favorable terms, and shall be pleased to meet or
correspond with those who contemplate making
changes or opening new accounts.
FOREIGN EXCHANGE DEPARTMENT
If you want the best possible serv
ice in connection with any busi
ness you have at the South Omaha
Stock Yards, send it to us. Our
location and facilities are un
equalled.
Capital and Surplus $1,125,000.00
H. C. BOSTWICK, P resident
J . S. KING, Ass’t to P resident
J . C. FRENCH, Vice-President
H. C. MILLER, Assistant Cashier
J . B. OWEN, Cashier
F. J . ENERSON, Assistant Cashier
Drovers National Bank
O F C H IC A G O
Capital and Surplus, $1,000,000
Has for thirty years rendered quick and efficient service
to its correspondents
Resources, E lev en Million Dollars
O fficers
D irectors
OWEN T. REEVES, JR., President
M. W. TILDEN, Vice-President
GEO. M. BENEDICT, Cashier
F. N. MERCER, Asst. Cashier
H. P. GATES, A sst. Cashier
WM. A. TILDEN
L. B. PATTERSON
JOHN FLETCHER
AVERILL TILDEN
WM. C. CUMMINGS
GEO. M. BENEDICT
BRYAN G. TIGHE
M. W. TILDEN
OWEN T. REEVES, JR.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
@FedFRASER