Full text of The Northwestern Banker : February 3, 1969, No. 1143

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Oldest Financial Journal Serving
The Central and Western States

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No. 1143

Des Moines, Iowa

New Tax Bill Aimed at National Banks

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National banks would be re­
quired to pay property taxes a s­
sessed by state and local gov­
ernments under a new bill that
is expected to be taken up in
Congress this year.
The measure, introduced by
Rep. Bertrum Podell (D .,N . Y .),
adds property tax liability to an
earlier bill he also is sponsor­
ing that would make national
banks subject to state and local
sales and use taxes.
The U. S. Supreme Court has
ruled that national banks under
present Federal statutes are
immune from state and local in­
tangible personal property taxes
and documentary stamp taxes as
well as state and local sales
and use taxes. It did this by
upholding a lower court decision
that had been appealed by
Florida State Comptroller Fred
0 . Dickinson.
Under Rep. Podell’ s latest
bill (H.R. 3826), national banks
would have to pay these types
of taxes if state-chartered banks
are subject to them.
Rep. Podell first proposed
legislation to broaden national
bank tax liability last year fol­
lowing the decision of the U. S.

Supreme Court holding that the
National Bank Act provides no
authority for state and local
governments to require national
banks to pay sales and use
taxes.
The high court, in the case of
First Agricultural National Bank
of Berkshire County v. Massa­
chusetts State Tax Commission,
said Congress must amend the
National Bank Act if national
banks are to become liable to
state and local sales and use
taxes. Rep. Podell’ s bill is
aimed at this objective.
Early action on the measure
in Congress this year has been
expected ever since the Ameri­
can Bankers Association’ s Na­
tional and State Bank Divisions
agreed unanimously to support
legislation that would make na­
tional banks subject to state
and local sales and use taxes
that are applicable to state
banks.

Edgar T. Savidge
Acting A BA Manager...
Edgar T . Savidge^ a senior
deputy manager of the American
Bankers Association, has been

February 3,1969
named acting executive manager
of the association until a per­
manent
replacement
for Dr.
Charls E. Walker is found. Dr.
Walker has left the ABA to be­
come Under Secretary of the
Treasury in the Nixon Adminis­
tration.
;

N ATIO N A L NEWS
MILWAUKEE, WISC.: George F.
Fasten has been elected chmn.
and chief exec. off. of the First
Wisconsin Natl. Bank. He will
succeed Joseph W. Simpson, Jr.,
who will retire Feb. 28- Hal C.
Kuehl, exec, v.p ., has been
elected to succeed Mr. Kasten
as pres. Four new dir’ s . also
have been named. They are Mr.
Kuehl; David C. Scott, pres., Al­
lis Chalmers Mfg. C o.; Henry Harnischfeger, pres., Harnischfeger
Corp.; Chester 0 . Wanvig, Jr.,
pres., Globe Union, Inc.

MONTANA NEWS
GREAT F A LLS: Lyle Sundine,
treas., First Computer Corp., St.
Paul, has been elected cash, of
First Natl. Bank, replacing BarrettCollier, who willbecome v.p.
of Bank of the West, Bellevue,
Wash. Wm. Anderson was named
install, loan o ff., and Thomas
Quilling, bus. develop, off.

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teller stations
Stor. units & desks

INDIANOLA: Dick Buxtom has ad­
vanced from v.p. to exec. v.p. at
the Peoples Trust & Savings Bank.

Member Federal Deposit Insurance Corporation

IOWA NEWS
BURLINGTON: Burlington Bank &
Trust C o. has promoted C. B.
McCloud from v.p. to exec. v.p. and
dir., Jaryl McCulley from a .c. to
a .v .p ., Hugh Snyder and Leonard
Wischmeier to a .c .’ s.
CARROLL: Jerome R olfes has been
elected cash, of Carroll County State
Bank. L. A. Perschau, formerly
ca sh ., and L eo Schweers, a.v.p.,
have been promoted to v .p .’ s .
CENTERVILLE: Centerville Natl.
Bank has advanced Wilbur Rush,
v.p . to senior v .p ., Richard Park
from a.v.p. to v .p ., Sara Tait to a .c .,
and Mrs. Bernice Craver from a .c.
to a .c. and aud.
CORRECTIONVILLE: C. L . Hat­
field has been promoted from cash,
to v.p. at the Corn Belt State Bank.
DES MOINES: C. W. Aurand, pres.,
Iowa-Des Moines Natl. Bank, has
announced he intends to retire on

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April 30- John R. Fitzgibbon, exec,
v .p ., will su cceed Mr. Aurand as
pres, and chief exec. off. Other key
changes will be announced in the
February Northwestern Banker.

DYERSVILLE: E. Lauerman, cash,
at Fidelity Bank & Trust, has been
promoted to v.p.
EAGLE GROVE: John J. Govern,
cash, at Security Savings Bank, has
been named v.p. Lyle Abrahamson,
a .c ., has been promoted to cash.
FORT DODGE: L eo M. Kinnick,
cash, of Lohrville Savings Bank
since 1945, has joined Union Trust
& Savings Bank as a.v.p.

HAMPTON: Ivan D. Davis has been
elected pres, and dir. of Hampton
State Bank. He and Mrs. Janiece E.
Davis purchased the stock of Mr.
and Mrs. W. S.Norton at year-end.
Mrs. Davis will also serve on the
bd. Mr. Norton continues as a ssoc,
pres.

There are so many ways we can help you
That's why over half the banks in Iowa are
— M N B correspondents
James F;. Coquillette
President

MERCHANTS NATIONAL BANK

LATIMER: Paul H. Borcherding of
Latimer has purchased the interest
of Mr. and Mrs. W. S. Norton of
Hampton, in the Latimer State Bank.
New officers are Mr. Borcherding,
pres., and Ivan D. Davis, v.p. and
cash.
NEW HAMPTON: A total o f 656
shares out of 750 shares outstand­
ing in the First Natl. Bank have
been sold to Mr. and Mrs. Merril
Shaw by J. F. Kennedy, Eleanor
Kennedy and Walter Kennedy (and
8 others). Mr. Shaw joined the bank
last fall and was recently named v.p.
ORANGE CITY: Newly elected o f­
ficers of Northwestern State Bank
are: Elmer Huizenga, from cash, to
v .p .; C liff Korver, a .c.; Marvin
Grotenhuis, ca sh .; Marion Wiersma
and Don Hop, from a .c .’ s to a .v .p .’ s.
OSAGE: Open house was held
Jan. 18 at the Home Trust & Sav­
ings Bank observing the bank’ s
extensive remodeling.
OTTUMWA: Manley O. Stevens has
retired from active banking at First
Natl. Bank. He will continue as
chmn., but w ill not maintain an o f­
fice at the bank. Mr. Stevens served
as pres, of the bank from 1956 until
1967, when he was elected chmn.
Two dir.’ s , Carl E. Johnson and
Albert M. Efner, have stepped down
from the bd. Donald W. Johnson and
H. Leon Yates have been elected
new dir.’ s.

CtDAR RAPIDS, IOWA 52401
Member FD IC

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SECURITY
N ATIO N AL
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CITY, IOW A
Digitized forSIOUX
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The Bank That's
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In Northwest Iowa

PISGAH: Jerry L. Vance has been
elected exec. v.p. of Pisgah S a v­
ings Bank. He has been employed
by A vco Finance, Sioux City, Iowa,
since 1965.
WATERLOO: Peoples Bank & Trust
has promoted R. E . Lauterbach, v.p.
to senior v.p. and ca sh ., Low ell D.
Goodenbour from a.v.p. to v .p ., and
R. Verne Foster, mgr., data pro­
cessing dept., named a.v.p.
YOUR STATE BANKERS ASSOCIATION
OFFICIAL SAFE. VAULT AND
TIMELOCK EXPERTS

F E. DAVENPORT & C O
O M AH A

KEY SPEAKERS included from left: Harvey Stephens, Robert
P. Abate, L ee N oel, Clyde V . Hackney, George Morvis and

Illinois Bankers Look at
Truth in Lending
By

MALCOLM FREELAND

P u blish er

An in-depth study of the proposed Federal truth-in­
lending regulations drew a record crowd of more than
700 registrants at the 21st Annual Installment Lending
Conference of the Illinois Bankers A ssociation in
Springfield last week. Only about 400 were expected.
Speaking on “ Truth-In-Lending and What Banks Have
To Do’ ’ Harvey Stephens, partner, Brown, Hay &
Stephens, Springfield, emphasized the Federal truth-inlending act is not a usury statute but that its sole
purpose is to d isclose to the consumer the co s t of
credit.
Mr. Stephens explained that the new regulations will
apply to any credit transactions involving personal,
family, household or agricultural purposes. The regula­
tions will also cover all real estate loans. Special
note was made of the fact that the regulations apply
to all loans —not just installment loans.
Scheduled to be effective July 1, 1969, the new
regulations will exempt loans made for business or
commercial purposes, loans to governmental bodies
and loans to organizations. Credit above $25,000 is
exempted unless secured by real estate.
Lending officers will have to show the amount of
the loan, prepaid finance charges, the available credit
(what the customer actually receiv es) and all other
charges which are not part of the finance charge (such
as interest, service charges and loan fees, including
credit reports). If credit life is included, the loan form
must state that credit life is not necessary to making
the loan and the customer must sign a form stating that
he has been so advised.
Penalties for not making full disclosure may be
levied by the Fed, the Comptroller or the FDIC. In
addition, thè debtor can recover two times the finance
charges plus reasonable attorney fees. There is also
a criminal penalty of $5,000 or one year in ja il or both.
Some authorities feel that by the time bankers fully
understand all of the ramifications of the new Federal
truth-in-lending regulations the State of Illinois may
pass its own Uniform Consumer Credit C ode, which
could p ossibly supersede the federal regulations,
depending on various interpretations, including those
from the Fed.

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Federal Reserve Bank of St. Louis

B ill Webber. Mr. Morvis serves as IBA secretary under Robert
C. Schrimple, executive vice president.

Robert P. Abate, chairman, installment lending divi­
sion , legislative committee, and vice president, Ameri­
can National Bank and Trust Company, Chicago,
presented an “ off the record’ ’ report on federal and
state legislation affecting installment lending. The
Illinois legislature just recently received a bill pro­
posing a change in the legal rate of interest from 7% to
9%, excluding FHA and VA loans. At present, the
A ssociation is making no strong push for a Uniform
Consumer Credit Code in Illinois
Special interest was shown by registrants in at
least two other categories —charge cards and the
Illinois state scholarship program. D iscussion on these
subjects was conducted in “ bull s e ss io n s ” divided
according to installment volume.
Bob Hecht presented current facts on the Midwest
Bank Card System and was questioned from the floor
on some of the systems current problems, i-nchiding
delays in approving credit cards and certain charge
offs made on allegedly good accounts. Midwest now has
over two million cards with some 90,000 merchant out­
lets. Gross volume in the last quarter was $46 mil­
lion. Charge o ffs are running at the rate of 1/8 of 1%.
The System is now affiliated with Interbank, so that
some Midwest cards (showing the identity) can be used
either locally or nationally. Not all Midwest cards will
be part of Interbank. This w ill depend on the credit
criteria to be established.
Lee N oel, associate executive director of the Illinois
State Scholarship Commission, Deerfield, presented the
current facts on the scholarship program within Illin ois.
Harry E. Cruncleton, Jr., president, Installment
Lending D ivision, and executive v ice president, First
National Bank, East St. L ou is, welcomed the record
breaking crowd. Forrest D. Norris, chairman, install­
ment lending conference, and assistant v ice president,
First National Bank, Springfield, presdied at the
general se ssio n s. Bull session s were moderated by
N eil Cooney, chairman, and president, Bank of Elk
Grove, Elk Grove V illage; Harley E. Hart, v ice pres­
ident, Commercial National Bank, Peoria; Clyde V.
V. Hackney, vice president, LaSalle National Bank,
C hicago, and Raymond W. F oote, v ice president, Harris
Trust and Savings Bank, C hicago. B ill Webber, a s s is ­
tant states attorney, talked on fraud and deceptive
practices.
Other leading participants were Leonard M. Cohen,
general coufisel, Independent Finance A ssociation of
Illin ois; Milton W. Schober, assistant to the director,
division of supervision and regulation, Federal Reserve
System, Washington, and Dr. James Ford, director,
econom ics o ffice , Ford Motor Company, Detroit.

(Supplement to Northwestern Banker February 3, 1969)

SOUTH DAKOTA NEWS
ABERDEEN: Fred W. Hatterscheidt
has resigned as pres, and dir. of
Farmers & Merchants Bank, posts
which he has held since the organi­
zation of the bank in 1955. Gordon
J. Curren, exec, v.p ., has been
named pres.
MILLER: Lloyd E. Weaver, pres, of
the First Natl. Bank has resigned.
Howard J. Peterka, exec, v.p., has
been named pres. Mr. Weaver had
been with the bank since 1932.
Dean Bartels has been advanced
from a.c. and ag. rep. to a.v.p. and
ag. rep.
RAPID CITY: Neil G. Simpson and
Joyce A. Swan, both of Rapid City,
have been elected directors of
First Natl. Bank of the Black H ills.
Mr. Simpson is pres., Black Hills
Power & Light Co. Mr. Swan is
pres, and publisher, Rapid City
Journal and pres., Great Falls
(Mont.) Tribune Co. Elected a .c.’ s
were: Kenneth G. Thomas, Villa
Ranchaero office, and Patrick H.
Foley, Mountain View office. James
A. Jennings, Spearfish office, was
promoted to a.v.p.
SIOUX FALLS: Albert F. Larson,

J. Virgil Lowe, Henry T. Quinn and
Carl E. Voigt, all of Sioux Falls,
have retired from the bd. of the
Northwestern Natl. Bank. Elected
to the bd. were: Lauren Lew is,
pres., All American Transport;
W. Ray Laird, v.p., Sioux Falls
Rendering; Keifer Lehman, pres,
and mgr., Sioux Falls Stockyards
Co. Eldon D. Hasche has been
named aud. in the main office, re­
placing Hobart Cox, who has re­
signed. Clyde H. Fischer, a.v.p.
in the credit dept, of the main o f­
fice, will replace Mr. Hasche as
controller. Truman D. Phelan has
been elected a.v.p. in the main of­
fice, advancing from a.c. Carrol
Odland has been advanced from
a.c. to a.v.p. in the Stockyards
office. Sid A. Bostic has been pro­
moted from a.c. to a.v.p. at the
Brookings office. Glen E. Anderegg
of the Brookings office has been
elected personal loan o ff., and
Norbert J. Sebade of the Madison
office has been elected oper. off.

NORTH DAKOTA NEWS
BISMARCK: Robert Clifford has
been named v.p. at the First Ameri­
can Bank & Trust C o., succeeding
E. J. Roswich. Viola Schneider has
been named asst, s e cy ., filling the

This advertisement is neither an offer to sell nor a solicitation of an offer to buy any of these
securities. The offering is made only by the Prospectus.

N EW ISSUE

January 15, 1969
50,000 Shares

THE MORRIS PLAN COMPANY OF IOWA
Common Stock
(Par Value $1.00)
Class A

Non-Voting (except as provided in
the Articles of Incorporation)
Price: $12.00 Per Share

Each purchaser is limited to not less than 50 shares or more
than 1,000 shares.
This old, diversified, financial institution has been engaged in
the Industrial Loan business since 1916 with 15 offices in Iowa.
It owns a Leasing company, Small Business Investment com­
pany, Mortgage Company, Realty company, Development com­
pany and majority interest in a Commercial Bank.
These securities are available only to bona-fide residents of Iowa.
Copies of the Prospectus may be obtained from:

vacancy created by the resignation
of R. H. Metzger.
BISMARCK: Peter J. Welk, v.p. at
Dakota Natl. Bank since 1964, has
resigned to become treas. of Gold
Seal Company. Darrell L. McQuay,
a .c., has been named a.v.p. and
mgr. of the install, loan dept.
MAYVILLE: Alvin Tollefsrud, who
has been with the Goose River
Bank since 1946 and cash, for the
past five years, has been elected
pres. Harvey N. Kaldor has been
named v.p.; Jerome Berg cash.;
Mrs. Orrin Larson a.c. Gilbert
Brudvik, who has retired as pres.,
becomes a member of the bd. of dir.
HALLIDAY:
Ownership of the
Union Bank has been sold by the
Weydahl family to Adolph Walth
and G. J. Bogers, both of Halliday.
Mr. Bogers has been named pres.;
Mr. Walth, v.p.; Ida Radke, cash.;
Charlotte Porter, a.c. The new bd.
of dir. consists of Mr. Bogers,
chmn.; Mr. Walth, v.p., and Hartvick Anderson.

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Montana Branch Decision...
A three-judge U. S. Court of
Appeals here has ruled that a
national bank in Montana may re­
tain the office of a bank it merges
despite the state’ s prohibition on
branching.
The Ninth Circuit Court in a
brief order concurred in the 1967
opinion of Judge Russell E. Smith
who upheld the merger of First
National Bank, Butte, and the
Daley National Bank, Anaconda.
The bank now operates in both
Montana cities, as First National
Bank of Anaconda, a $27.9 milliondeposit bank.
Daley National was an affiliate
of Northwest Ban cor por at ion, Min­
neapolis, and First National now
operates as a Northwest bank.
The Montana Banking Department
brought suit and was supported by
amiscus briefs filed by the Inde­
pendent Bankers Association of
America, the Independent Bankers
of Minnesota, and the Western
Independent Bankers A ssociation.
The suit contended that the
merger violated the state branching
law and also violated the Federal
Bank Holding Company by expand­
ing the out-of-state operation of a
registered holding company.

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The Morris Plan Mortgage Company

COLORADO NEWS

200 American Building
Cedar Rapids, Iowa 52401

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

DENVER: A charter application has
(Continued on back page)
(Supplement to Northwestern Banker February 3, 1969)

MINNESOTA NEWS
EAGAN: David A. Shern has been
promoted from exec. v.p. to pres, of
the Valley Natl. Bank, succeeding
Anthony J. Roszak, who retired.
Mr. Shern and L. H. Lull, pres, of
Lull Engineering C o., have been
elected dir’ s.
GRANITE FALLS: Frances Wilson,
dir. of the Granite Falls Bank, has
been named pres. Mr. Wilson’ s
grandfather served as pres, of the
bank before the turn of the century
and his father was an employee and
dir. of the bank in the early 1900’ s.
Mr. Wilson worked at the bank from
1925 to 1930.
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GREEN ISLE: Clark T. Arnott, for­
merly pres, of Edina State Bank, has
been named pres, of Citizens State
Bank, succeeding M. R. Kloster.
KENYON: B. A. Ellingson has been
promoted to exec. v.p. of Security
State Bank of Kenyon. He is a dir.,
install, loan off. and insur. dept,
off. at the bank. Duane Schaper has
been promoted from a.v.p. to v.p.
and has been named a dir.
MINNEAPOLIS: Henry S. Kingman,
Jr., E xec. v.p. at Farmers & Mech.
Savings Bank, has been elected
pres. Hermon J. Arnott, pres, for
more than six years, has been e le c ­
ted chmn. of the bd., a post left
vacant since the retirement of Mr.
Kingman’ s father two years ago.
The new pres, joined the bank in
1957.
MINNEAPOLIS: William C. Bronner
is retiring after 48 years with the
Fed. Reserve Bank of Minneapolis.
MINNEAPOLIS: John 0 . Barton has
been named v.p. of the Bank of
Minneapolis. He has been an a.v.p.
since he joined the bank in April,
1968.

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MINNEAPOLIS: DonW. Z ollars,v.p.
at Second Northwestern Nat if Bank,
has been promoted to exec. v.p.
William B. B ell, a.v.p., has been
named v.p.

PRESTON: A .L . Christianson, v.p.
at Farmers & Merchants State Bank,
has been named pres., replacing

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Main B ank 13th S. O S ts . / Patio O ffice 10th 4. O S ts . / Lincoln. N ebraska

W. A. Garratt, who has been named
chmn. of the bd. and v.p. Verdonn
R. Meyer has been promoted from
cash, to v.p. and cash ., and Gene
H. Christensen named field supvr.
REDWOOD FALLS:Thom as B.M oog
has been promoted from a.v.p. and
cash, to v.p. and cash, at the First
Northwestern Natl. Bank. Frank J.
Schoffman, pres, of HopfenspirgerSchoffman, Inc., has been elected
a dir.
SLEEPY EYE: The Malcar Corp., a
holding company ownir. , 98% of the
stock of First Natl. Bank in Sleepy
Eye, has been purchased by Stephan
Adams of Eden Prairie. Clark T.
Arnott, who until recently had been
pres, of Edina State Bank, has been
elected chmn. and dir., replacing
P. E. Wilms, who will continue as
a dir.
TWO HARBORS: Arnold P. LeClair,
exec. v.p. at First Natl. Bank, has
been elected pres., succeeding
Edward J. Nauha, who has retired
after being associated with the bank
sin ce 1924. Palmer Hoffland, cash.,
has been named v.p. and cash.
VIRGINIA: Richard P. Larson, a.c.
at First Natl. Bank & Trust C o.,
will join the State Bank of Virginia
as a.v.p. on Feb. 1. Robert E. Peter­
son has been promoted from a .c. to
a.v.p., and Robert Niemi has been
named a.c.
WORTHINGTON: Dale Krekelberg,
a.v.p. at the State Bank, has been
promoted to v.p. William Senders on,
ca sh ., also has been named v.p.
WORTHINGTON: Gene Platt has
been promoted from cash, to a.v.p.
and cash, at First Natl. Bank. John
T. Wassenaar has been promoted
from a .c. to a.v.p., and James Whiteley also has been named a.v.p.
Eugene H. Ormberg and Claire J.
Gerber hp,ve been elected a .c .’ s.

N E B R A SK A NEWS
BRAINARD: John Wagner has been
been elected pres, of the Bank of
Brainard, succeeding Charles Novak,
who has been elected chmn. of the
bd. Louis F. Novak has resigned
as exec. v.p.
CLEARWATER: E. G. Freudenburg
has been elected pres, of Citizens
State Bank. He was formerly chmn.
of the bd.
COLUMBUS: Ben B. McNair has
been promoted from près, to chmn.
of the bd. at the Citizens Bank &
Trust Co. Dan B. McNair has been
advanced from v.p. and t.o. to pres,
and t.o. Paul W. Abegglen has been
promoted from v.p. and cash, to
exec. v.p. and cash.
COZAD: Leland J. Spanjer has been
promoted from a .c. to cash, at the
Cozad State Bank. Clifford G. Young
has been advanced from a.c. to a.v.p.

OMAHA: The annual meeting of the
Nebr. Investment Bankers A ssn, will
be held at the Omaha Athletic Club,
1714 Douglas, Thurs., Feb. 6, with
cocktails at 5 p.m. and dinner at
6:30 p.m. The association ’ s annual
Field Day is scheduled tor May 22—
23, with cocktail party and meeting
at the Tower Motel on May 22 and
the outing at the Omaha Country
Club the following day.

OMAHA: The Nebraska Bankers
A ssn. Installment Credit Seminar
will be held Feb. 4 -6 at Prom
Town House Motor Inn here.

SOUTH SIOUX CITY: Donald Kuhl,
Dale H. Engelbart and Robert D.
Haggblade have been elected v .p .’ s
at the Nebraska State Bank.

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Federal Reserve Bank of St. Louis

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Employee Profit Sharing Trusts

LINCOLN
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12th &. N S t r e e t • L I N C O L N , N E B R A S K A . M ember: F .D .I.C .

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Merle Starr

Kansas City, Missouri

been filed with the Regional Admin­
istrator of Natl. Banks for a new
bank, the University Natl. Bank, to
be located in the vicinity of South
Downing St. and East Evans Ave.
Heading the group of organizers is
Weldon B. Hamilton, pres, of Cher­
ry Creek Natl. Bank and bd. chmn.
of South Denver Natl. Bank of Glen­
dale. Other organizers are Ira C.
Rothgerber, Jr., Donald B. Robert­
son, Munro L. Lyeth and Theodore
D. Browne. Proposed capitalization
is $306,000 capital, $122,400 sur­
plus and $107,000 undivided profits.

WYOMING NEWS
CASPER: Herbert F. McCulla has

been named pres, and dir. of the
Sec. Bank & Trust C o., following
the resignation of Don Hogoboom,
former pres., who is organizing a
new bank in C olo. Mr. McCulla has
been an exec. off. with Northwest
Bancorporation affiliated banks in
Nebr. and Mont, for the past 12
years. Richard B. Ward has been
promoted from v.p. and cash, to
senior v.p. Thomas M. Jones has
been promoted from a .c. to cash.
LANDER: Paul Freese has been
promoted to v.p. and gen. mgr. of
install, loan dept, at the First
Natl. Bank. John Holcomb has been
promoted to loan off. in the install,
loan dept.

---------------------------------------\

Bank at the
Financial Center
of the
Chicago Stock Yards

fo r .

..

P ersonal Attention
to A ll Your
C orrespondent N eeds

Fred D. Cummings
Bernard D. Miller
Larry E. Makoben

CALL
AREA CODE

341-8765

NATIO NAL. B A N K

FOR SALE
One Ditto Electrostatic copier and
stand — two years old. Excellent
condition. First Security Bank and
Trust Company, Charles City, Iowa.
LOAN OFFICER
Qualified installment, commercial,
real estate loan officer seeks p o si­
tion with midwest bank. Five years
experience as owner of own busi­
ness; 2y2 years with branch bank
system. Presently assistant man­
ager and bank officer. Willing to
invest. Full resume and references
furnished upon request. Write File
JPA, NORTHWESTERN BANKER,
306 Fifteenth Street, Des Moines,
Iowa 50309.
POSITION AVAILABLE
Manager wanted for a branch office
of northern Iowa bank. Write File
FBT, NORTHWESTERN BANKER,
306 Fifteenth Street, Des Moines,
Iowa 50309WANTED
Your used addressograph equip­
ment, CAM, Inc., Box 474, Des
Moines, Iowa 50302. Telephone
(515) 276-8655CASH FLOW SHEETS
Monthly cash flow income and ex­
pense forms —so helpful in plan­
ning budget loans for farmers and
ranchers. Samples available. The
Farm Business Council, Inc., P.O .
Box F, Urbana, Illinois 61801.

402

D R O V E R S

WANT ADS

off Ctiicago
P h o n e ( 3 1 2 ) 9 2 7 -7 0 0 0

J

V

CENTRAL

NATIONAL

BANK

Member Federal Deposit
Insurance Corporation

AND

TRUST

Member Federal Deposit Insurance Corporation

COMPANY

INCREASE 1969 PROFITS
Cy Kirk and Max Roy, v ice pres­
idents of the LaSalle National
Bank, Chicago, are prepared to
assist you and your bank in plan­
ning increased profits for 1969.
Whether it is an analysis of your
bond portfolio or a cost study of
your general banking se rv ices,
L a S a lle National Bank has the
facilities to serve your every need.
Call Cy or Max today at (Area
Code 312) ST 2—5200 for immedi­
ate action.

No. 1143 Northwestern Banker is published five times monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des
Moines, Iowa 50309- Subscriptions 50^ per copy, $6 per year. Second c la ss postage paid at D es Moines, Iowa. Address all mail


subscriptions, changes of address (Form 3579)» manuscripts, mail items to above address.
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Federal Reserve Bank of St. Louis