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Volume V-. .Number 7 Des Moines, Iowa, July, 1900. Iowa :N"ationat Sallh. G 1t1zsns ~~I_ C _o_nt_t_n_ts_._ [~Pige. ( - - - -DES MOINES, IOWA H . S. BU TLE R, HARRY T. BLACKBUR N, V-Pres. Cashi er. G . A. DISSM0RE, Ass' t Cashi e r. Capital $100,000.00. Solicits Accounts of Banks and Bankers and extends to depositors every facility consistent with conservative banking. Designated reserve agent for National Banks. DIRECTORS: Homer A. Miller, H. S. Butler, E . K . Butl er, N. T . Guernsey, B . F . Kauffman, Geo. A. Diss more, E. H. Hunter,. Frederick Field . C. W . Johns ton, H. T. Black burn . DEPOSITS. July 14, 1899 ........... .................$493 ,022 63 July 13, 1900 ............................... 955,5!8 31 EDITOITTAL HON . JA COB SIMS MINNESOTA BANKERS CONVE TION " OLD FASHIONED HONO U R IN MODERN BU SIN1t: s s" ''THE BUSINESS OUTLOOK'' ''THE NEGOTIABLE INSTRUMENT Law'' 5 6 7 7 9 !J;JationaZ 1Janlf 10 "THE NEW FINA N CIAL BILL'' 11 R1t; POHTS AND REGISTRY LIST 13- 14 CONVENTION NOTES, ETC. 15 loWA NEWS AND NOTES 15- 21 IOWA NEWS AND NOTES-Con- tinued · 0 23 22 23 23 MINNESOTA NEWS AND NOTES DAKOTA NEWS AND NOTES NEBRASKA NEWS AND NOTES POSITIONS WANTED, FOR SALE , ETC. 25 SPECIAL LIST OF BANKS - 26-29 R1~PRESENTATIVE lo WA LA.WYERS 30- 31 U. S. DEPOSITORY. DES MOINES. IOWA. ®---® CAPITAL . SURPLUS, $200,000,00 100,000.00 - @.--'@) J.G ROUND~PREmDEN~ J . CALLANAN, VICE-PRESIDENT. GEO. E . PEARSALL, CASHIER. GEO. COOPER. ASS'T CASHIER ~"'---®> ACCOUNTS SOLICITED, ~Bankers National Bank, Davenport Savings Bank, DAVENPORT, lOWA. Marquette Building, CHICAGO, ILL. ~:._g,:._g,~:.._g)~:._g)~:._g)~~~:.._r.., ~ ~ t _ _ ® ~ ~ CAPITAL, • • • $ 300,000.00 w UNDIVIDED PROFITS, 73,045.00 © j DEPOSITS, - - - 2,842,000.00 j 5 E. s. L ACEY, GEO. s. LORD, JOHN C. CRAFT, J . C. McNAUGHTON , FRANK P . JUDSON, - Deposits Depo..its Deposits Depo.. its Deposits Deposits ·Deposi1s Deposits June June June Juue June June June June 30, 30, 30, 30, 30, 30, 30, 30, 189i, 1891-, 1895, • 1896, 1897, • 1898, 1899, • 1900, PRESIDENT. 2ND VICE-PRESIDENT . CASHIER. Ass' T. CASHIER. Ass' T. CAsHrnR. $1,612,694.72 3, 2i>5, 163. 70 3, 41,), 285. 36 3 226,2~2.10 6, t03, 760.03 6,7 t0,671.66 9,631,891.88 • 11,085,418.98 ,~~~~~~~~~~~~~~~~, •••Officers••• ANTHONY 5URDICK, President. LOUIS HALLE:R, Vice-Presidmt. HE:NRY C. STRUCK, JR., Cashier. OlTO L. LADE:N5E:RGE:R Teller. ~~ • • • Directors • • • A. BURDICK LOUIS HALLER, A. STEFFEN, w. 0. SCHMIDT THOMAS Sc oTT, J. F . Dow , H. KOHRS, H . C. STRUCK, JR. W . H . WILSON, ~JI, New Business Desired and Une~celled F~Qiliti~!t Offered , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 Per cent interest paid on deposits. Money loaned on real estate security in the State of low~.. ~~.JI.Jf.JI.JI.,. THE NORTHWESTERN BANKER 2 July, 1900. ································································································· The National Bank REPU BllIC OF THE .JJ OF .JJ NEW YORK. AMERICAN ExcHANGt BANK, United Bank Building, Cor. Wall St. and Broadway. ST . LOUIS . Capital, $ I ,500,000. CAPITAL, $500;000 00. SURPLUS, $375 ,000.00. Surplus, $500,000. ACCOUNTS SOLIClTED. Officers : OLIVERS . CARTER, President, . WALKER HILL, Pres't. EPHRON CATLIN, _Yice-Pr~s•t. L . A. BAr'l'AILE, Cashier. CHARLES H. S'l'OU'l', Cashier. W. B. 'l'. KEYSER Ass't. Cashier Accounts of Banks and Bankers Received. OORRESPONDENOE SOLlOITED, Buy and sell United States Bonds and make transfers and exchanges- in wa~hington without additional charge, · NATIONAL BEST BANKERSt -State Bank of Burlington: PUBLICATIONS.~ (Oldest Established Bank in Iowa. ~ ~~5!> -"'.. CAPITAL, $150 ,000. ---------- ~ 1 ;::,.= ..~<,:=;::"~I ~ tbt Banktrs' magazint. g1d1;:e~¥:ts' i~~i1~t~~d ~tu•p l 11 ~ CC§ ___$_1_0_0_,_oo_o_ ._ __ 1846. J. T. RE?4EY, President, J. W. C. E. Perkins, E. S. Huston, JOHN J. FLEMING, BROOKS, Cashier Advertising rates low, considering the large cir,·ulation guaranteed. Vice-President. DIRECTORS. J.C. Peasley, J. W. ~RHODES' JOURNAL OF' BANKING and the BANKERS MA.Gazine have been consolidated. J. T. Remey tbt Banktrs' Dirtctory - - - - - - - - - - - = - -• Issued in January and J1;1ly - corrected to date. Pw·e with marginal index, $4: a copy; both editions, $7 Plain $3 a copy; $5 a year. Brooks. t~~~~&&~~~~~~ ~ CAPITAL, $100,000 UNDIVIDED PROFITS, $40,000 Practical Bankiag _ _ _ _ _ _ ___;::_• (Meth~ds and Machinery ' of). By Claudms B Patten, for many years Cashier of the State National Bank of Boston. "The Best Book on Banking in the Engl~sh Language." Price$> a copy, or to Bank Clerks $3.50 a copy, when ordered in lots of ten copies and over. ~ lYOUR~::::~::'.'.:~::::::N~::~:ITED. i ~ ~ GENERAL COMMERCIAL BUSINESS. w. C. HAYWARD, PRESIDENT, HENRY EGBERT, s. D. BAWDEN, CASHIER. 1 0 0 !:Jist~~e Ja!:;~ #r~~ vate Bankers, Loan, Trust and Investment Companies. Collection Agents, Brokers, etc., for confidential use. Terms on application. ' BRADFORD RHODES & CO. 78 William Mt ,, NEW YORK. PUBLISHERS. VICE-PRES . ~ ~~~.-.-~.--.,•••v~~ ❖ ~~~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tbt Banktrs' Rdtrtnct Book. ~ OFFICERS AND DIRECTORS, Terms, $5.00 a year. Has over double the cir<mlation of any other bankers' publication in the United States. OFFICERS. NOTICE-Orders for the Bradford Rhodes & Co.'s Bankers' Public&• tions received a.t publishers' rates by THB N OBTHWJ:BTB~X BA N~B.R, 1 Des Moines, Iowa. I July , THE NORTHWESTERN BANKER. 1900. --7 F TRAVELER'S CREDITS issued, available in any part of the world . . TRANSFERS OF MONEY MADE BY T ELEGRAPH and CABLE and EXCHANGE DRAWN at customary usance, on the principal citi es of the United States, Europe, J a pan, China, and the East Indias. All kinds of FIRST-CLASS INVESTMENT SECURITIES d ealt in constantly on hand and for sale at current rates; a full line of GovERNMENT BONDS, Municipal andLocal B Jnds, Ch oic e Railroad Bonds . • Collections carefull y made and proceeds promptl y accounted for on m oderate terms . Accounts of banks and bankers solicited. THE FIR-ST NATIONAL BANK, Corner Monr oe and Dearborn Streets. SURPLUS, $2,000.000. A REGULAR BANKING BUSI~~~S TRA~ - r ·-·-· ;+;- :::;,i,..'--c.ii,,~.;- W . B. COWEN, 2d A sst. Cashier. SOLICITS ACCOUNTS OF BANKS AND BANKERS AND EXTII.NDS TO DEPOSfTORS EVERY FACfLITY CONSISTENT WITH CONSERVATIVE BANKING. ~A::_~J a:: ..,,€ · __..,•'------',., • .... • • ~1 l PEOPLE'S sAHViNcs BANK, I Ube lMestern 1Rational 1Sankt 1Rew Jgork. Capital, $.z, i 00,000. CAPIT AL- $100, 000. l ~f tbe (!ttr of . Corner Pine and Nassau Sts. ,~~ DES MOINES, IOWA. -f- SPECIAL ATTENTION TO IOWA COLLECTIONS. Report of tondition, Jluditor·s £all, :June • • Resources • • ~"I 1111 29, 1900. i:r !838,946 lt l\ 5.094 39 1,8UJ.U0 10,500.00 Loans and Discounts_____ ______________________ ~ Overdrafts____________________ __________________ Furniture and lixtures_________ ________________ _ Real Estate ___ _____ ____ ____ ____ ____ ____ ____ ____ ~1stt -~~-c-~~- 11 -~~- ~~~~ ~~~~ ~~~--~~~~ ~~~~ ~~~~ ~~~~ --~~~$l!i:i:i·tf Total _______________________ -~-- ___ _____ fl If 172,205 75 of the United States, the State of New York, the City of ·New York. • • J:iabilitiu • • Capita!__ ______ ________ __ _______ _____ ____ _____ ___ $100,000.00 Profits, n et_________________________ _____________ $303,470 fi0 15,339 43 'l'ime Deposits __________________________________ Dem11.nd Deposits _______________________________ 609,7:16.35 913,206.85 I I . Depository of Public Moneys $1,028,546.28 ----- •• Total_ ___________________________________________ $1,028,546.28 1 JOHN NICKERSON, 2d Vice-Pres. EIGHT MILLION DOLLARS ]AMES B. F ORGAN, President. GEORGE D. BOULTON, Vice-President. RICHARD T. STREET, Cashier. H OLMES HO GE, Assistant Cashier. l"RANK E. BROWN, Assistant Cashier. CHARLES N. G ILLETT, Assistan t Cashier. E MILE K. BOISOT, Manager Bond and Foreign Dept . . ] OHN E. GARDIN, Asst. Mgr. Bond and Foreign Dept. FRANK 0. WETMORE, CAPITAL, B. F. EDWARDS, Cashier. C. L . MERRILL, Asst. Cashier. W I TH CAPITAL , SURPLUS AND PROFITS OF BANK OFFICERS : $3,000.000. W. H. THOMPSON, President. J.C. VAN BLARCOM, Vice-Pres, Tbe National Bank or Gommerue in St. Louis ~~ ll 3 1 L-<$-<?%-o/¾J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Officers • • FLYNN, President. A. DICKEY, Vice-President. C. H. MARTIN, Cashier. FRANK P. FLYNN, Ass't. Cashier. MARTIN QG,, ~ •IIJjlll' ¥---<'!'~ ~ Ir,~ V. P. SNYDER, President. ~ I . --$=V¾--'~ H. A. SMITH, Cashier. U. L. ROBINSON. Ass't Cashier. Accounts of Mercantile Firms, as well as , those of Banks and. Bankers.are solicited, and will receive careful attention. THE NORTHWESTERN BANKER 4 Des Moines Savings Bank, DES MOINES, IOWA. 1900. l~The America~-~ £apital S4oo, ooo. jTrustAN°Savings CONDITION JUNE 30, 1900. ..Bank.. eu1enGe. ASSE'l'S. Bills Receivablt> __ ____ __ __ __ ____ __ ____ Banking House '!.lid Real EstuLe ______ Ca.~b and 1<;xclia11ge __ ____________ ______ $2.768.658 95 99,83L.80 1,741,669.03 I STATEMENT OF CONDITION AT AUDITOR'S CALL. RESOURCES. 'l'otaL ____ __ ___________________ __ ___ !M,610,049 78 LIA Bl LJ'l'IES C11.pit11.l Stock . ___________ _______________ $ 400,000.00 Uudivided Profits.___ _______________ __ __ 80,8fi8 l 6 Deposits ____ ____ __ ____ __ ____ __ ____ __ ___ _ 4,129,191.72 Loans and Discounts __---------------- ____ --- --- ____ -_--· _ $6,5n1,247,14 Stocks and Bonda ______ ---- --- -- ---- ___ : ---- --- - -- ---- -- ---- 1,239,475.61 Real Estate ____ -- ---- -- ---- ---- --- ---- ---· ---- -- ---- ---- ---40,000.co Cash and Exchange _______ _____ ------------------------ · ---- 4,567,563.21 TotaL ____ ------ ______ _____________ .$4,610,049 78 Tota\ ______ --- · ----- ---------------------------- - $12,357,285.96 ·wE SOLJCIT LIABILITIES. ACCOUNTS OF BANKS AND BANKERS, PROMPT AND AND tf il~~~~~:~-;~t ~~~~ ~~==~~~===·=====~=~======== ==~~==== ===~ I,~~:~:; g~ii:i~:~- ~~-~~~~:: : ~~:_-_-_-:~_-_- ==~ ~ n,o~~'.~'.; PROMISE COURTEOUS $ TREAT- ====== ========== ==== ~=== MENT, WITH SUPERIOR FACILITIES FOR THE TRANSACTJON OF Total--------- ---- - ---------- ---------- ---------- $12 357,285.96 YOUR E. A. PoTTER, President. G. B . SHAW, Vice-President. J. R. CHAPMAN, Cashier. JOHN JAY ABBOTT, Assistant Cashier · 0. C. DECKER , 2d Asst. Cashier. BUSINESS. Joy MORTON , Vice-President. P. M. CASA IJ\., PresidPnt. SIMON CASADY, Vice-President HOMER A. MILLER, Cashier. LELAND WINDSOR, Asst Ca~hier. C 'l'. COLE, JR., Asst. C11.~bier. P. F. PETTIBONE & CO. (INc.), Transacts a general Banking Business and solicits accounts of corporations, firms and individuals. Special attention given to accounts of state and private banks. We solicit correspondence. Banking House of 48 JACKSON BOULEVARD, ... CHICAGO ... Gilman, Son fianh Stationers H nd Litbograpbers. [ Fine Russet. Lar~e Assortment of SanIt R, gistirs t . '--- July, & ______ 62 Cedar Street, New York. • • Leather Pass Books And Pocket. . • And Other Forms Kept in Stock. · ./ Check Books A Specialty. Company, • • • • P. F. PETTIBONE, U.S. OOVERNnENT LICENSEE For Imprinting REVENUE STAnPS on Checks, Drafts, Etc. .Accounts of Banks, Bankers, Financial and Other Corporations, Merchants and Individuals, Received on Favor able Terms and Special Attention Paid to Their Care CO RRJ.- St»ONDF.N('E SOLICIT.l<~D. l)an~ers Autual Casualti Co. DES MOINES, IOWA. ~ ------------------------------------------ I O :=:::i•E!)'- Directors: Directors: J . M. WOODWORTH, Cashier First National Bank. Perry, Iowa. J. G . ROUNDS, President Citizens National Bank. Des Moines, Iowa . A. U QUINT, Man.\ger. Des Moines, Iowa. S O'DONNELL. President Citizens National Bank. New Philadelphia, O . WM. A GRAHAM, Cashier Citizens Bank, Sidney, Ohio, · F M. KUDD, Cashier L Rudd & Sons Bank. Bronson, Michigan. M. D. WAGNER, President _Hur~n Coun~y Bank, Sand Be ach, Michigan . JNO. W. FAXON, Ass't Cashier F1r:;t National Bank, Chattanooga, Tenn G . R . MOORE, President State Bank, Jackson, Minn . WM. WARNOCK, Banker, Almyr, Ontario, Canada. JOHN H . LEATHERS, Cashier L ouisvill~ Banking Co ., Louisville, Ky. C. F . SMITH, Cashier First National Bank, McGregor , Texas . W. L. MOYER, Cashier Marcus Daily Bank, Butte, Montana. A. E SPAULDING, Cashier .\insworth Savm~s Bank, Ainsworth, Iowa. EDWIN GOODALL, Hackemack, N. J F ELGORE , Cashier Bank of Winchester, Kansas. f D GEKL :\CH . Cashier First National Bank. Chester, Illinois L P HILLYER, Cashier American National BanK:, Macon, Ga. CHAS H. MOO KE , Assistant Cashier National Bank of Commerce, Kansas, City_. Mo . W. E. COFFIN, Treasurer Iowa.Loan & Trust Co ., Des Moines, Iowa. ~ -------------------------------------------- INSURES against burglary and robbery of bank 1)1 ~ I Absolute security at actual cost. The safe delivery of money and Better, safer, cheaper th&.n by expres~ Organized and conducted by b~nkerij. securities shipped by registered mail. Ogndnes it1:1 busbwss to b~n~s. Com~spoadence ~olicitecl. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Tbe Nortl)vestern l)an~er. A Bankers' Journal for the Northwest . VOLUME V. S2.00 NUMBER DES MOINES, IOWA, JULY, 1900. PER ANNUM, . THE NORTHWESTERN BANKER, PUBLISHED BY Tl)e Nortl)western f)an~er Po:b. Co., SINGLE COPIES, 20 7. CENTS increase over 1894 of 77,329; the savings bank depositors have increased from 28, 1~04, to 53,208. While the number of depositors incr"eased more than 77,000, the aver.ige deposits grew from $369 to $405. * * * It is the veriest nonsense to declare that the money question is settled. So long as Bryan's DemoA monthly Bankers' Journal , devoted to the interests of bankers in the cratic party is pledged to the 16 to I heresy the silNorthwest. ver question will remain a menacing factor in busiAll communications and news items of local interest to bankers in the territory are requested . ness, impairing credit and destroying values. The Entered at Des Moines, Iowa, as second class Matter. country is more seriously threatened now than in Subscription $2.00 per annum; single copies , 20c Advertising rates on application. 1896. Then the declaration for 16 to I was the declaration of a fenzied faction of the convention, after one of the most emotional outbursts in convention EDITORIAL. history. Allowances were made for the excitement. The usual midsummer dullness has reached the The conservatives bolted. They controlled the party banks of the Northwest with the re.suit that there is machinery 'in the important states. But this year it very little demand for money even at the prevalent is different. After four years of calm deliberation, low rates. Many savings banks are refusing additional the Demo-Pop. party specifically re-affirms its devotion to free silver. The convention was united and deposits. harmonious. The party goes into the campaign *** with control of the party machinery of every state, The indications are that banker Gilbertson will be with splendid organiza!ion, and with a Luge and rapnominated for the Iowa State Treasuryship with but idly growing campaign· fund. By drawing attention little opposition. His banking experience makes away from the main issue they hope to win. The him especially well fitted for the position. 1 campaign may not be as spectacular as in '96 but *** it will be more effective. The friends of sound The majority of banl<s in the Northwest are owned money and national honor have a greater fight on by farmers, men who have gained a competence in than in 1896. It is foolish to belittle the contest or farming and stock raising and who have invested a be drawn away from the main issue. Free silver part of their surplus earnings in bank stock in their means repudiation and national disgrace. The conhome town. The "money power" oft he Northwest test of '96 showed that the business men of the is the farmer and he has been growing in power at a country counted national integrity above party sucmost remarkable rate during the last few years. cess. Let them not this year be led away by the imperialist fetish, which, though an important issue, *** In I 894 the total deposits of Iowa's statement is of little importance in comparison with the farbanks were $38,710,980. Last year they were $73,798,- reaching and disastrous effect the simple election of 487. The national banks had risen from $16,754,41 I candidates pledged to free silver would have to $29,071,376; state from $9,130,164 to $18,358,151; upon the business and industrial conditions of the loan and trust from $1,033,492 to $4,2 11,852, and sav- present time. Among working men, as well as busiings from $11,792,913 to $22,156,908. In Iowa the ness men, regardless of party, the great question to wage earners and farmers use the state banks and decide is whether they desire a change from existsavings banks more than the national banks. It will ing conditions to the doubt, demoralization, contracbe noticed that the combined accounts of the state tion, and ruin that would follow the election of a and savings banks in 1894 exceeded those of the ' candidate whose hobby is free silver. If the gold national banks by only $4,000,000. 'In 1899 the ex- standard is to continue the believers in honesty in cess was more than $11,000,000. The number of business, must-, this year, bury free silver so deep bank depositors in the state for 1899 was 182,101, an that even the Peerles's can not find the corpse. DES MOINES, IOWA. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 THE NORTHWE~TERB BANKER. July, 1900. tapital titv Jurniturt to. ST. PAUL, MINNESOTA. MANUFACTURERS OF Bank fix tu res .and furniture. GIVE DIAGRAM AND SIZE OF ROOM, AND WE WILL FURNISH YOU WITH FLOOR PLAN, ORAWINGS AND E~ TIMA TES ••.•• Before ordering elsewhere examine our work or write for reference as to the high standing of our work as follows: Merchants Mational Bank, St. Paul, Minn .; Second National Bank, St. Paul, Minn ; American Exchange Bank, Duluth, Minn; Winnebago County State Bank, Forest City, Iowa. JOHNSON BROTHERS, PROPRIETORS, Established 1878 HON. JACOB SIMS, COUNCIL BLUFFS. Hori. Jacob Sims is not an unfamiliar figure in Iowa banking and business circles. He has a personal acquaintance with many Iowa bankers and is known to many more who had the pleasure of listening to his scholarly and comprehensive address on, "The Law of Compensation," at the Iowa State Bankers Association at Mason City in 1898. Because of this wide acquaintinance in banking circles no appologies are offered, for bringing before the readers of the banker th;s little sketch of an school mate whose friendship we have long enjoyed and whose successful career we have watched with a good of personal pride. Mr. Sims is of the type of manhood that has made Iowa famous the country over as a safe and conservative state, not given to pursuing phantoms, nor easily swayed by the demagogue. .The prominent men in public life in Iowa have come up through struggle to success, and have learned by hard experience the meaning of work, and any scheme _of success that https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 639-641 JACKSON ST ., ST. PAUL, MINNESOTA. lec1,ves out that element finds little favor. Mr. Sims belongs to that class. He was born in Dodgeville, Wisconsin, in 1850. His father was a -minister, and white yet a boy young Sims lear_ned the lesson of struggle aqd effort, and the habits of industry which one gains by work in the field . or toil in the shop. He was one of the boys who "went" to college, as distinguished from those who are "sent" there. He worked his way through. The tasks of the classroom were but a· part of the duties which he had to perform in order to gain . the education ·which had formed such a broad and firm foundatiort for the upbuilding of his later success. One of less stirring spirit would have shrunk from these hard conditions, but this young man was made of sterner stuff; he wanted an education and to show how much he was in earnest he not only worked his way through college, but when he graduated from Lawerence University, at Appleton, Wi_sconsin, it was noted that he had worked his way to the head, takin·g the highest honors of the class of 1874. In his earlier years before entering upon his chosen profession of the law, he was a teacher and was later engaged in editorial work. But his chosen profession was law and he went into it as he went to college, determined to succeed. That was more than twenty years ago and he has long since come to prominence in that profession, until now he is recognized as one of the keenest, most scholarly, and prominent lawyers of the state. Not less high in his standing as a man. In Council Bluffs, his home, his superior qualities of mind and heart have won him a· loyal and enthusiasti~ following. These · have placed him before the Republicans of Iowa as eminently qualified for the position of Attorney General for the state. The suggestion has been enthusiastically endorsed by Republicans all over the state and especially those on the western slope where Mr. Sims is best known and his abilities appreciated. Certain it is no man in Iowa would bring to the office more ability in July, 1900. THE NORTHWESTERN BANKER. 7 Im proved Beebe Indelible Check Protector, with new style "Cutting Dies." The only Check Pro- will be interested in the new tector on the market to-day giving ABSOLUTE PROTECTION. Send for sample of work and full particulars to ACTUAL SIZE, 6½x7½, "JAMES R. GOODING, Gen'l Agent, Germania Life Bldg., ST. rAUL, MINNi the law, a higher character, or a more painstaking official. We like to note the success of a man who has come up to prominence through the force of his ·o wn ability. There is fine inspiration in the history of such a man and the kind that is very much needed to-day The political demagogue may talk until he is black in the face about the dollar being preferred to the man, but the boy who has pluck and determination and a willingness to work hard will continue to climb up the ladder of prqminence, as has the Honorable Jacob Sims of Council Bluffs. THE MINNESOTA BA.NK~RS CONVENTION. The eleventh annual convention of the Minnesota Bankers Association was called to order June 19th at Winona by president A A. Crane of Minneapolis . 'After prayer by Rev. L. L. West, captain S. R. Van Sant, a prominent politician_ and candidate for governor, gave a brief but cordial welcome which was responded to by Mr. Crane, preliminary to his presidential address. Atter giving a brief history of the association Mr. Crane called attention to the remarkable growth in membership experienced during the past year, over 100 members having been added since the last convention, making a total present membership of 262. The president then gave a review of the present ·f inancial and industrial conditions. - He said: The prospects at present are the best they have been for years. There is a general feeling of prosperity and security throughout the country. Sound money is thoroughly established, and the silver craze is at an . end. The financial vexations have been practically removed from the political field. The labor question is the mqst disturbing feature in the business world to-day. Prosperous times, as well ~s periods of depression are productive of strikes. There is a general movement among the institutions of 'learning along lines practical and commercial. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis This is a short cut to the learning of things which the ordinary business man has gained through costly experience, sometimes through failure and loss The movement toward the adoption of the uniform negotiable instrument law is gaining impetus. In 1890 it became operative in ten s ates. The present agitation over the repeal or amendment of the bankruptcy law of 1898, is a matter for thoughtful consideration. Mr. Crane gave an outline of the national bankruptcy laws since 1800, when the first one passed The main objection to the present law is the opportunity it offers to a dishonest bankrupt. Mr. Crane .argued in favor of the group system, all the banks in a certain district forming a group for their mutual welfare. He recommended that the matter be placed in the hands of a committee to report at the next annual meeting. He also recommended that bankers use their influence to secure the repeal of the present burdensome revenue bank taxes. There has been but little work for the legislative and protective committees during the year. The legislative: committee will be an important one during the comin'g year. He advised the setting aside of a permanent fund for the prosecution of work. The educational committee has begun ·work looking to the establishment of a suitable course at the university. Attention was also called to the splendid work of secretary Chapman during the past year, and also to the bank clerks' organization movement. The president recommended that representatives from this organization be admitted as delegates to the Minnesota bankers Association. · OLD FASHIONED HONOUR IN MODERN BUSINESS. W. C. EDWARDS, EDl TOR NORTHWESTERN MILLER, Mr. Edgar was unable to be present, but his address was presented by Mr. J. F. Foss of Minneapolis. THE NORTHWESTERN BANKER. 8 ~The Commercial are the July, 1900. Letter File Companyts Cabinets~ SIMPLEST, t he ·MOST PRACTICAL, the MOST [CONOMI CAL, and the B[ST CONSTRUCTE.D in the market to-day They contain all the GOOD FEATURES of the most prominent makes, and have all objectionable ones eliminated. lH[ [UR[KA CH[CK SORT[R has no equal. No bank should be without one. Send for CATALOGUI<; and QUOTATIONS. We make Docum e nt File, Ca-rd Index, Mercantile Repo rt, Catalogue, Legal Blank and Pigeon Hole Cabinets. Supplies for all of the well known Letter File Cabinets furnished promptly. Write for prices. COMMERCIAi. LE:TTE:R FILE: CO. 100 He said: Briefly, honour is plain justice. Its antithesis is "smartness," and the tendency of our times, in business life at least, is to substitute for honour with the •'u," meaning justice, and honor without it, which is too ofteo mere "smartness" and nothing else. I t passes for honor that a man shall have obtained, by some means not necessarily credible, money enough to pay his debts and accordingly does so- that he shall have made a success, some way or somehow, and shall thenceforth live in an outward state of commercial cleanliness. Oldfashioned honour means that every dollar a man accumulates must be a clean one, honestly acquired without wringing another. An honourable business career is truly an unbroken record of commercial life conducted with "a nice sense of what is right, just, and true," the measure of success not so much in the total footing of the column as in the way it was added up-not so much in the size of the fortune as in the manner ot its creation. We have come to emphasize the ·'get there" prin- · ciple regardless of its true meaning. We pay the same tribute to the man who "arrives" by devious ways, as to him who comes painfully and slowly along the straight and narrow path achieving honour with success. To the indiscriminate eye the reward of successful virtue and success£ ul vice are much alike except that the latter is usually expressed in larger figures. The whited sepulchre whose whole business history is a record of deceits and chicanery, of successful intrigue, of sharp practice and devious roguery at first conducted on a petty scale and gradually expanded and enlarged until it became aggressive and Napoleonic in its scope, finally succeeds and stands head and shoulders above his fellows-a man of mark, who has ''got there" not by the practice of that "nice sense of what is right, just, and true," called honour, but all that is its oppo.site. Once "arrived" he takes his place upon life's https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lake St., CHIC A GO, ILL . grand stand reserved for the successful Here, quickly placed, while yet the memory of his successi ve onward steps is still fragrantly alive, while yet his victims are in evidence, we hail him as of the elect. We cast our wreaths at his feet and prostrate ourselves before the idea of "smartness" which he perso 11ifies. Triumphant smartness, you are surely much in evidence in this year of grace and some of us, impressed with your luxury, your ease of conquest, your power over men and your ability to still get and still dominate are wondering whether you do not represent in your resplendent person and your increasing possessions, real success; whether, after all, figs do not grow from thistles; whether America can present anything finer to the world than you as the flower of her century and a quarter of national existence. So much is modern society making of your pretense, that sometimes we are almost deluded into believing that you are really worthy of emulation. Your coarse features are presented to us in the illustrated press, with the lying tale of your achievement_s. You debauch our city councils and make decent politics a byword. You dominate our legislatures with the magic of your check-book and laws come and go at your command. You are prominent in national politics and from your gross and prosperous presence flees abashed and disheartened, the old-fashioned statesman who stoo d for a principle. Your sons in their ostentatious display ruin and demoralize our schools and colleges. Latterly you have added enormously to your wealth and power by betraying such industries as you control into the hands of trusts, thereby with characteristic cowardice avoiding the moral responsibility which should attend the man who employs other men. By all and through all you go on adding to your gains and building up your power. The huge fortune of a decade ago is the modest competence of to-day and the rich man of THE N ORTHWESTER N B ANKER. July, 1900. 9 The Northwestern National Bank, of Minneapolis, Minn. Jas. W. Raymond , Pres . Wm . H . Dunwoody, Vice-Pres. Gilber t G. Thorne, Cash Wm . Collins, Ass't Cash. General Statement at Close of Business June 29 , 1900. LI AB ILITIES. RESOURCES . i~ t ~~~ Capital __ ____ __ __ _____ ___ ____ ____ ___ __________ ____ _$\,000.000 00 Surplu s ____ ____ ____ ____ ____ __ __ ____ ____ __ __ ____ ____ 2:i0,000.00 Undivided Profits __ __ __ __ ____ ____ ____ __ _____ _ ___ ___ 50,000.00 R eserved for Un earn ed Interes t, Taxes and Continge ncies--- --- -- ---- - - ---- --- -- - ----- - - -- --- .. . 89,978.09 w::::mgg 1 ti!~rin~li~a-nk-Not~s ============~ ===== = Cash Balances with Banks _______ ___ _____ _____ ___ _ 1,640,390,77 - - - - $2,202,874 .73 Loans and Discounts------------ - -- - -- - --- --- -- - 3,51J9,335.56 Bond s at par ___ _ ___ _ _____ ____ ___ ______ ___ ___ 200,500.00 Railway and other :Bonds _ ____ __ __ ____ ___ ___ _ ___ _ 725,016.34-$ 925,516.34 u:s. 5,000 00 1,329.24 Total Liabiliti es to Stockh o lde r s ___ _____ ___ _____ _____ ___ $1,389,978.09 Notes in Circulation ____ ____ __ __ ___ ________ __ ___ __ __ 3,950 00 Due to other Bank s ______ ______ ___ ___ __ ___ _________ 2,264 , 117.54 Demand Deposits ___ __ --- - ----- - --------- - ----- - -- 3,036, 10.24 Total R esources _____ _. __ ________ ___ ________ __ _____ _____ ___ _$6,694,055 87 •ro ta] Liabilities to th e Public ___________ ____ _______ _____ $5,304,077.78 Redempti o n Fund ___ ______ __ __ __ __ __ __ __ __ ___ _ ____ __ __ ___ _____ Overdrafts _____ ___ ___________ ________ ____ _____ ____ ____ ___ __ ___ __ Total Liabilities _______ ________ ____ ____ ____ ____ ____ ____ $6,694,055.87 Paid in Dividends since organization ...... . $1,890,000 00 I Paid for Stockholders' Taxes since organization . . .. $421,087.45 T w o P er Cen t Paid t o C o 1•responde n t Ban ks on B a l ances Averaging Over $2 0 00. ---------~I~ JAS. S BELL, Presid e n t W ;a s hburn-Crosby Co . W . G. NORTH UP, Pres id e nt Nort h S t ar W oo le n Mill Co. L. R . BROOKS, Broo k s-Griffiths Co., Grain . J.E. CARPENTER, Carpe nter-Lam b C o. , Lum b e r. E. C. COOK, Secre tary Minnea po lis Tru st Co. S. A. CULBERTSON, Capitali s t . ~ C 1900 is financially greater than a dozen rich men of 1890. Triumphant Smartness, this is your era and this land is your breeding ·place. We may feel that some way, you are sowing the wind, the whirlwind whereof our children must reap- but after you, the deluge, and meantime, it is slig ht wonder that many of us, seeing your prosperity, imagine that the rules of old-fashioned . business honour -c an be safely abandoned for those of new-fashioned business smartness which you have followed with such apparent success. The type is not new: It is as old as civilization, but it is more in evidence in these days of prosperity, and especially in a new and developing country such as tbe Northwest. "Triumphant Smartness." Is there aught in it akin to real honour in business? God forbid! Honour and "smartness" have nothing in common. The success which really succeeds is the business large or small which is built up stone upon stone that "nice sense of what is right, just, and true," called honour. I have heard it said that a man was "too much of a gentleman to be in business." The one who said it probably meant that the man he referred to was either too lazy or too impracticable to be a business man. His conception of a gentleman was erroneous. If to be a gentieman means to be a man of honour, then a gentleman may engage in any legitimate business without the slightest lowering of his standards. Further, if he will ally his principles strictly to the enterpris~ which he has undertaken he will, by practicing that ''nice sense of what is right, just, and true" known as honour, achieve such a permanent and enduring success as shall keep him al ways in honoured and grateful remembrance and ·establish his house upon ,__ a ro ck as firm as the everlasting hi~ls . To paraphrase https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 'I' C> ~ S -- - - - - - - - SPENCE R E . D A V IS, Mo ni to r Ma nu fact uri ng Co . W.M . H. DUNWOODY, Pres id e nt St. Anth o n y & Dako ta Ele va t or C0 T . B. JANNEY , J11nn ey, Se mple , Hill & Co ., Whol esale H11.rd ware. M. B . KOON, K oo n, Whe la n & He nu e tt, A tt ' ys. FRANK H . PEA VEY, P eavey E levator Syste m . HEN RY L. LI'rTLE, Gfrn e ra l Ma nage r Pill s buryW as h b urn F. M. Co ., L t' d. J A MES W RA YM OND , Pres id e nt . G ILB RR 'L' G. THORN E, Cas hi e r . G RO. W. V AN DU S E N, V 11 n Du se n Rle vator Sys te m. 0 . C. WYMAN, W y man, P a r t ri dge & Co , Wh o lesa le Dry Good s . Webster: "Although no sculptured marble should rise to his memory, no engraved stone bear record of his deeds, yet will his remembrance be as lasting as the occupation he honored." T HE BUSINESS OUTLOO K . J. H. ECKELS. After referring to the paper of Mr. Edgar and emphasizing the false standard of honour too often met with in political as well as business life, Mr. Eckels said in part: We have witnessed within six years some strange situations. We have passed through an extraordinary panic because of, its far-reachin g effect, and no portion of the country escaped. _Just prior to 1892 there had been a great expanse of trade, and following that there was depression and great loss. The cause was too great extravagance in public and private expenditures, too much speculation, t oo much over-trading and too much bad financial legislation. The culminating cause was that this country had been indulging in financial heresies, and the passage of a law which would have placed this country on a silver basis had it been allowed to remain. It brought financial ruin. The discussion of the question led to the decision of the voters at the election of I 896, which placed this country on the same basis as the other great commercial countries of the world. The other contributing causes to that prosperity were a retrenchment ig the expenditures, public and private, and the fort·1nate position which this country occupied relative to its manufactured products. This country was able to furnish the other countries with the things they needed . This prosperous condition has lasted to the present time. This has led H ON. IO THE NORTHWESTERN .BANKER. July 1900~ The Iowa National Bank, OF DAVENPORT. Located in a city now one of the greatest financLI centers of lowa.:1-Is equipped in all departments to promptly and sathfactorily serve individuals, corporations an~ I other banks. .:I.:IJI.:It:f.:I-~ I .............................................................................................................................................................................................................. to the new financial bill. There has been crystalized into law the convictions of the voters. In the future there will be no question as to what this country will · liquidate its o~ligations in when they are presented. With all this extraordinary development it was impossible that there should not be too sudden development, too high prices, too sudden increase in the volume of our business. There has been too great expansion of trade within the past two years. Manufacturers have been unwise in the advance or prices. The question is whether this business prosperty is a substantial thing. I believe that it is, but I believe that the producers and manufacturers must sell at lower prices and do a larger volume of business. The manufacturers and producers of this country soon will, if they have not already done so, capture the markets of the world. We are better able to manutacture at cheaper prices than any other nation, and we will hold our foreign markets and increase them. • The manufacturer may be criticise~ for another thing, that he does not give the people the information of what he is· doing and how he is doing it. Manufacturers may close their factories without a day's notice, to the disturbance of the public mind and great disturbance among the employes. I have believed that no harm could come from the combination of capital, providing there is honesty and capability in the conduct of the combination. Combinations of capital are just as essential in the evolution of trade as the expansion of railways. The difficulty with ,.the public is that they lose sight of the business element in looking at the speculation which may result. The stock market is not the proper criterion of the business conditions of 'a country. In spite of the rise and fall on the stock markets, the country has gone through it all with but one large failure. There is less activity in the iron and steel markets today, but there is greater activity in almost all other lines, and the outlook continues · to be the best. I prefer to take the optimistic rather https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis than the pessimistic view. It is always found that the strength of this country in its darkest da) s is far and away ahead of its weakness. If we look at the resources of this country of all kinds, developed and undeveloped, we will find that there is reason for optimism, and we can approach the future with a sublime confiqence that th is country will continue to advance in all that makes a people great and a country glorious. I believe that this country shall be the great creditor nation of the world. We have been forced to recognize the fact that the great resources of the country are west and not east of the Mississippi nver. We must recognize that the prosperity of one section of the country is but the reflection of the condition in every other section; In the finances, as well as in the commerce of the world, there must be a complete solidarity of int(»"ests. . In this country today there is general prosperity, although there may be some local disturbances. The effect of the presidential election this year, I venture to say, will be felt to a less degree than heretofore. The business outlook of today is such that all can enter the year with confidence of success. WEDNE S DAY, JUNE 20TH. The first address of the second day's proceedings was delivered by Prof. James Paige, of the University of Minnesota, on the subject: THE NEGOTIABLE INSTRUMENT LAW. Prof. James Paige said in part: "Bills and notes form the major portion of the flexible currency of this country. The rights of the bankers are varied. There is the common law, the statute law of both the States and United States. The effect of this is hard to determine. A banker must know the common law as interp eted by the different states throu~h which a note passes, and also the statute laws of the states. Many questions arise by reason of the conflict of laws. The chaos of the situatic;:m became 3.pparent to English bankers some twenty years ago, when her colonial business forced it upon her. This led to a general ..THE NORTHWESTERN BANKER. July, 1900. 1DE NATIONAL ... SAFE AND LOCK ===-=---- -- I I co. CLEVELAND, OHIO,== nANUPACTURERS OF NATIONAL CANNON-BREECH SCREW DOOR BANK SAFE, THE ABSOLUTELY BURCLAR PROOF. _ Fire Proof Safes, Fire and Burglar Proof Safes, Fire Proof Vault Doors, Vault Fronts, Linings, Safety Deposit Boxes, Etc. Estimates furnished on application . CHICAGO BRANCH Southeast Cor. of State and Lake Sts. Near Masonic Temple. .-i-.----FRED SCHRAUDER, Manager law, for all the colonies, which embodies the common law. Mr. Paige followed the attempts that have been made in this country to have a uniform law in the different states, which has succeeded to some extent. It has become a law in sixteen states and has received the approval of many high authorities. The commerce is ,most secure, as it is protected by the interstate commerce, but the negotiable instruments are not secure, Many of the discrepancies of the different state laws were pointed out, which would be done away with by a uniform law. The law desired in this country i~ one following closely after the law of England. Mr. Paige indicated many of the desirable 'features. Uniformity of law, he said, would always be one of the most potent forces in preserving national integrity and life. Following the address several questions were asked, and answered by Mr. Paige. The discussion developed the fact that the matter of endorsement is the most marked change desired. THE NEW FINAN CIAL BILL. S. R. Flynn, president of the Second National Bank of St. Paul, gave a very interesting address on " The New Financial Bill. '' The new financial bill, he said, was not a gold measure. The House bill placed the financial system ·firmly upon a gold basis, but the bill adopted in conference does not give a gold base. It transforms U' nited States notes into permanent gold certificates, treasury notes into temporary gold certificates. And by transforming the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis United States notes into gol-::1 certificates it indirectly provides for the redemptio? of national bank notes in gold by the banks. But for the rest? All bonds except those issued under the provisions of this actthat is the _refunding bonds -are left nn a coin base and can be redeemed in silver. Continuing, he said: "It may be conceded in defense of the act that an inferior money can be maintained at a parity with a superior money so long as the volum e of the inferior money is not greater than domestic uses can absorb. But the instant domestic rlemand is insufficient then the parity must disappear. However, it must again be insisted that there is but one certain way to maintain a parity between the different forms of money. They must be exchangeable, denomination for denomination. " It may be said that all the bonds except the 4-'s will be refunded and that the redemption problem will not have to be faced for thirty years. This may be so. But a staunch g old secretary in an· official circular reserved the undoubted authority given him by the act to suspend the refunding scheme at his discretion and pleasure. Certainly a silver secretary could not be blamed for asserting the same authority nor for using it. '' It seems to be gen erally supposed that this new financial bill breaks the endless chain. It does not absolutely bre ak it, but renders its operation more difficult. It remov es the promise of inordinate profit in forcing bond issues and so takes away the temptation. " THE NORTHWESTERN .SANKER. I2 July 1900. ~l"'"'l~~l; '"'lll"'"'"''""'"''""'"''""'lli"""lll""'lll"'"'lll'"""ll"""lll"""lll"""'''""""'"""'"'""''''"'"''''"""lll"""'''""""'""""'"""'""""'l'"""'''"""lll"""''''"""'"""lll'""''''"'"'''''""'''''""''l'"""'''"""lll'""'lll'""''l''""''I'"'"''~ Dt:s )\loint:s ~ationat Banh . . . . - ARTHUR REYNOLDS, President, - E. A. LYND, Vice-President. A. J. ZWART, Assistant [ashier. ~ - The Des Moines National BanR Solicits a Share of Your Business Upon the Basis Of sound and Progressive BanRing, Liberal and ~ccurate Treatment. CORRESPONDENCE SOLICITED. I :, ~ ~ ::D:ES ~OJ:~:ES., J:O~..6.. ( U. S DEPOSITORY.) :, STATEMENT OF CONDITION JUNE 29, 1900. , .. RESOURCES ... Loans, . U. S. Bonds, Overdrafts , Banking tiouse. Other Real:- Estate, Stocks and Securities, Premiums Paid, . . . . Ca~h and Due from Banks and U. S . Treasurer, Total, . . . . ... LIABILITIE8 ... Capital, · , Surplus, . Undivided Profits, Circulation. Dividend Unpaid Deposits, Total $1,921,681.54 250 ,000 00 4,567.90 63,541.29 5.430 00 20,996.20 7,250 00 825.195 12 $3,098,662 .05 00 30,000 00 12,045.42 50,000.00 9,000,00 2,697,616.63 $ 3,09(66205 $ 300,000 ~l11 ,,11lll11,,11lll11, ,11lll11,,11lll11, ,1 1lll11> ,11ili11>,11ill11,,11ill11,,11lll11,, 11 ll l11 ,,11 lll11, ,11 lll11.. ,1tll11, ,11lll11,,11lll11,,11lll11,,11lll11,,11lh1,.,11lh11,,11lh11,,11lh11,,11llh11111lll111111lll111,11lli11,,11lli11,,11lllu ,11lll11,,11lll11,,,1lll11,,11ill11,,11ill11,,11ili111,11ill11,,11lli111,11lll11,,11lll11,, 11 lh1 ,, ,,1lll11 ,,11I@ The speaker did not consider that .state banks in towns of le8s than three thousand population would be benefited in organizing as national banks under the new .law, as national banks could not loan on real ,estate, and this was the most profitable business with a country bank. The amendments to the ba11.king law, and the profit on circulation were touched upon. Mr. Flynn called attention to the fact that the increase in circulation as the result of the passage of the financial bill had not been nearly so large as anticipated. He said: "The possible increase March 14, 1900, was $399, 933,300.50. Up to June 14th the aggregate capital of national banks had increased $8, 4~5,000 -- swelling the aggregate of circulation possible on that date, in . equal amount. And yet up to June 14th but, 51,997,910 had been adde~ to national bank circulation. "It will be seen that four months after the passage of the act Mr. Cornweli's estimate of _immediate increase had not been reached. "The cautious banker is beginning to realize ~hat the destructive effect of such vast inflation on interest rates would very much more than offset the profit on the amount actually invested in bonds. "The country at large did not need nor desire the permitted inflation. When money goes begging at - 4 per cent. no one can say there is ndt enough of it • for all proper purposes.'' The speaker congratulated the bankers that the bill had not fastened the pernicious asset banking currency upon the financial system. The speaker suggested· the following as beneficial amendment. to the new financial law: "That all United States notes and treasury notes be retired or converted into old certificates. That circulation bonds so designated, to be used for no other purpose, and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis drawing r _¼ per cent. interest, be issued direct by the government at par to national banks. That these bonds and these alone shall be accepted for circulation purposes. That there shall be a minimum and maximum amount of circulation required and allowed. That convenient depositories shall be designated where in times of currency famine b~nks may secure shipping currency at a minimum cost by depositing coin or circulating bonds therefor. That circulation bonds must be registered and ,cannot be transferred except back to the government, thus avoiding the possibility of a premium That national banks be permitted to include national bank notes in their reserve. That gold redemption of all forms of money and all classes of bonds be provided for. That national banks located in towns having less than 25,000 popu lation be permitted to loan not more than 20 per cent. of their available funds on farm lands." In conclusion the speaker said: " Let the banking fraternity shake off the shackles of prejudice and distrust. Aid in the emancipation of the masses from the demagogue. Let your light be seen. The people are beginning to realize that you are not altogether devils incarnate, and the politicians realizing this have thrown you a sop. Strive on and make your influence for good felt throughout the land. Do n'ot remain silent when you see the business interests of the country in peril. Assert your right to be heard . Persist in your demand for a w:ise and adequate financial system. Do these things and your next sop will have more substance to it than the one we are now endeavoring to digest.'' I CONCLUDING BUSINESS·. The president and secretary were authorized to furnish credentials to six members of the association who will attend the meeting of the National Bankers July, THE NORTHWESTERN BANKER. 1900. -4)111,,111h111 ,111l11,,,,,1l111,,111!1,,,,111l1,,. ,,,1l1,,,,,,1l11,,,,,1!1,,,,,,1l1,,,,,,1l1,,,.,,1l1,,,,,11l1,,.,,,1l1111,,11l1,,,,,,1l11,,,,,1l111.,,11l1 ,,, ,111l111,,,11~ ~ CAPITAL . $100,000. SURPLUS. $35,000 . ~ ESTABLISHED 1870 Merchants National BanR _ ~ ~ s ~ OF T. w. B ARHYDT, PRESIDENT. w. :_~:_ _ BURL/ftlGTON. IOWA. E. BL AKE , VICE-PR ESIDENT . J. L. EDWARDS , CASHIER. H . J H U NGERFORD , AssT. CAS H. - SF.ND I T~ YOUlt COLLl<~CTION!li. = C. ~ l'"'""'''''''l ll"''"lll"''"lll"""llll'''''llll''''' IP'" '"lli "''"ll l11 ' '' 1111 1"'11 1111''''11 11 11 ' ' 11 1111"" 111111 ''"1l 11"''111111 ' 1111111" '11 111"''111/p.' Association, which will meet at Richmond, Virginia,· in October. This is to be done later when it is determined w.ho will be able to attend. The following committee of state bankers was appointed to meet when they choose and have charge of such business as is of particular importance to the state bankers, representing the different congressional districts: First, C. A. Hubbard; Second, George R. More; Third, J. Hammer; Fourth, H. Shepard; Fifth, F. A. Charnberlain; Sixth, W. E. Lee; Seventh, L. Ellington. The educational committee composed of Messrs. Anderson, Crane and DuToit was continued for the ensuing year. The matter of continuing the publication of the association's Bulletin was referred to the executive committee, with the recommendation that it be continued during the coming year. The election of officers resulted as follows: President-James C. Hunter, Duluth. Vice-President-]. R. Mitchell, Winona. Secretary- ] oseph Chapman, Jr., Minneapolis. Treasurer- -George H. Prince, St. Paul. The terms of the following as members of the executive council expired: J. C. Hunter of Duluth, C. J. Jaffray of Minneapolis, and Joseph Lockey of St. 'Paul. The following were elected for the term of three years: O. H. Havill of St. Cloud, to succeed Mr. Hunter; A. A. Crane of Minneapolis, to succeed Mr. Jaffray, and Mr. Lockey was reelected. The time and place for holding the next annual convention will be determined by the executive council, but it will probably be at Duluth next June or July, Resolutions were adopted: Thanking the bankers and people of Winona for their generous hospitality; creating a protection fund of $ 2 50 and adding thereto each year $ r.oo for each member; asking the repeal of the internal revenue law; the repeal or modi,fication of the national bankruptcy law to afford the protection_against dishonest debtors ; the passage by the legislature of the negotiable instrument law; and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13 ·••+•• I I, ••• f r.icw STATEMEN r OF CONDITION OF t +e, tt It ♦ I ► hd z$faf:e zS:e:curify manit ~ioux lRapUi!i, 11Droa. Jnne 30, 1900. RESOURCES. LIABILITIES. L oans, - $204,337.89 Capital, Suq:>l us, Cas h and Sight E x- , 32,981.94 Di vidend U n pai d, chang-e, 6,759.~5 D ep osits R eal E state, Re venue Stamps 78.85 T otal, $244,158.03 Total , A.H. H U LETT. VICE-P RES. C B. MILLS, P RESIDENT : ADE LBERT T Y MESO N , J 1i., CASHI ER. R . G. HUL E TT , Ass 'T CASHIER. for a committee to investigate and report as to the advisability to organize the association into what is known as the group system. COUNCIL AN D CO MM I TTEE R EPO RT. Secretary Chapman read the report of the executive council, the principal feature of which was a suggestion "that the dues of banks whose capital aggregates $ 100,000 or over, should be raised from $ 5.00 to at least $ 10.00 per year." Chairman Anderson of the committee on education reported that an effort is being made with the regents o.f the university looking to the establishment of a financial course in the state university. The committee could report no success, and recommended that a new committee be appointed to further the project. Jos. Chapman, Jr., of Minneapolis. secretary of the association, submitted the followin g report: I cong ratulate the association upon its healthy condition. Never have we come to an annual meet- · ing with as large a membership as we do at the present time; never have the bankers of our state shown more interest in our association. At the tenth convention, held in Minneapolis last year, we had 160 members on our roll. To-day we have 259. The increase is largely the result of hard, conscientious work on the part of your preside!1t and members of of the executive council. There were in our state the first of the year, 538 banks and banking institutions, divided as follows: Io Trust Companies, l l Savings Banks. 70 National Banks, 188 State Banks, 259 Private Banks . Our membership includes, 3 Trust Companies, 3 Savings Banksi 59 National Banks, 82 Private Banks, 108 State Banks. In my opinion we h ave just started to grow, and by another year we s ha ll have a members hip of 400. Our membership represents a total bai;iking capital of $23,928.000, while there is employed in all the banks in Minnesota $32,655 .000. Our deposits amount to THE NORTHWESTERN BANK.ER. 14 july, 1900. . I THE CONTINENTAL NATIONAL BANK, OF CHICAGO. Jlccounts of Banks and Banktrs . ... Solicittd ... H ! I STA TEMENT OF CONDITION AT CLOSE OF BUSINESS, FRIDAY, JUNE 29 , 1900 . . . . . Rtsourm .... Loans and Discounts , Other Stocks and Bonds, . . U.S. Bonds to secure Circulatron, . Overdrafts. . . . . . Real Estate, . , . . . . Due from Banks and U.S. Treasurer, Cash, . . ._ . . . Total, $15.930,249.87 870,995.17 $16,801,245.04 700,000,00 11,455.56 40,850.39 $7,009,658°,85 6,709,363.60 14,319,022.45 $31,872,573,44 . . . . J:iabilitits . . . . .. Offims .. JOHN C. BLACK, President. ISAAC N. PERRY, Vice-President. GEORGE M. REYNOLDS, Cashier. IRA P. Bo:WEN, Assistant Cashier. BENJAMIN s. MAYER , Assistant Cashier. }Im, ! \9 Capital Stock Paid in , Surplus Fund, . Undivided Profits, . Circulation, . . Deposits, . Total , The report of the treasurer showed receipts of $1,725.55, with $837-48 disbursed. REGISTRY LIST AT MINNESOTA CONVENTION. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2,000,000.00 400,000.00 317,964.31 7 0,000.00 28,~54,609.13 $31 ,872,573,44 A genernl fo,eign exchange bosiness t<ansacted. Trn,elm' cicculac lette,s of mdit issued, available in all parts of the world. $97,440.000, while those of all the banks of the state amount to $110,843.000. Our loans and discounts ar~ $83,477,000, out of a total of all banks in the state of $97,0.36.000. No assistance was asked of your secretary in prosecuting criminals, so the inference is that we were not "touched" during the past year. A . A Crane, James C. Hunter, H. P <ieorge C L Merrill, A H. Macfarlane, .J F . B, Foss, L Ellington . 0 . E. Naegele, C L. Dixon, C T. Jaffray, Robt. W . Akin, Hudson Wilson , H. A . Baldwin , 0 H HavilL Geo. A UuToit, W . Collins, A. C. Anderson, Perry Harrison, E. 0 Hammer, A. M Baumbach . George J. Kradley, Fred W . Dean, C. D Griffith. C D Griffith :Fr. C. Thornton. L L Mathews James H Eckels N. F Baufield. William L. Lee, N. F. Baufield,Jr Elmer Bigham, C H. March, C. H . March, 0. P . Rask John Jay Abbott. B F. Farmer, Geo. Pfefferkorn, $ N at'l Bank of ( 'ommerce, . Minneapolis American Exchange Bank, Duluth Merchants' National Bank . St Paul Nat'l Bank of Commerce. - St Louis , Mo A. R. Macfarlane & Co , Duluth Nicollet National Bank. Minneapolis Scandia American Bank, <~rookston Germania Bank Minneapolis First National Bank, Cloquet First National Bank. Minneapolis State Bank. Anoka Citizens' National Bank, Faribault. Redwood County Bank, { Redwoi~lls . Merchants' National Rank, 8t . Cloud. Carver < 'ounty Bank, Chaska, Northwestern Nat'l Bank, Minneapolis ~t Paul National Bank, St. Paul. Security Bank of Minnesota, Minneapolis Meeker County Bank, Litchfield. First National Bank, Wadena Bank of Norwood, Norwood. Dean Bros & Co.. Minneapolis Merchants' Kank . Sleepy li:ye Citiz~ns' state Bank , Montevideo. Ban of Benson Benson Bank of Mazeppa, Mazeppa. Commercial National Bank, Chicago. First National Bank Austin Nat'l Bank of Long Prairi~, LongPrairie First National Bank, Austin Ilank of New York Mills, N. Y. Mills. Security Bank of Zumbrota Litchfield. Becker County State Bank, Litchfield. 8100 State Bank { 1;:f~i~ie The Am Trust & Sav'gs Bank, Chicago First State Bank, S Spring ? Valley. Citizens' State Bank, St. Charles. F . F Murray, L. H. Ickier, Joseph Lockey, Jesse McIntyre, W K. Barnes, John O' roole, A. C Buswell . J. W . Wheeler, L. Whitmore, E. A. Jewett, John Brandt, J. E. Perton, J . P. Wallace, Merchants' Bank, Nor. Branch American Exchange Bank, St . Paul. ~at'l German-American Bank,St . Paul. Red Wing First Nat'l Bank, H.ed Wing. Alexandria Douglas County lhnk, J S Morton & Co., Elysian. Blue Earth City Bank, City. First Nat'l Bank, Crookston . First National Bank. Wabasha. First National Bank, Fergus Falls Murdock. Bank of Murdock, Kerkhoven. Bank of Kerkhoven, The J.P. Wallace Bank, ?S Pelican Rapids. j Cannon Citizens' Bank, Falls. Cliff W Gress, 1 A D. Ober, Chatfield Bank, Chatfield. I'. ~- Slingerland, National Bank of Kasson, Kasson. G orge. K. Uoty, First National Bank, Rochester. F. H . .Kussell, First National Bank. Eyota S. R. Flynn. Second National Bank, St. Paul. Hurd & Co ., Citizens' Bank, Springfield . F N. Steve ns, Sanborn Bank, Sanborn . L Hedding, State .Bank of Lamberton. Lamberton. George B Lane, Self. Minneapolis J . W . Rice, Lewiston Bank, Lewiston. \V . U. Kirk, Capital Bank, St. Paul C. C Hay, American Banker, New York John M. Haven, State Bank of Waverly, Waverly. H . :A. Shedd, Osakis State Bank, Osakis. C. H.. Blair, C. R Blair & Son, Eyota. C. H . Neeb, Farmers Exchange Bank, Lewiston. J. R Mitchell, Winona Deposit Bank, Winona. E F Greening, Exchange Hank, Gd. Meadow C E. Oakley, C. K Oakley & Co , Buffalo. R. A. Whitney, 8ank of Stephen, Stephen . F. Willius, The ,tate Savings Bank, ~t Paul Clarkfield C S Oswoll, Clarkfield State Bank, W. H. Putnam. Bank of Pierce, Simmons & Co.Red Wing . C K. Gilbert, · Bank of Glencoe, Glencoe Herman Sheffer, Union Bank, St. Paul. H H, Wells, Preston Bank, Preston. C. A Hubbard, Lake City Bank of Minn., Lake City. John K. Brown, Bank of Jackson, Jackson. Jas G. L{obertson, Bank of Rushford Rushford, Wm. G. Frank, State Ba·nk of Springfield, Sprin gfield, G s. li~ichmiller, State Bank of Hector, Hector. A. C Goodi.ng, Union National Bank, Rochester Charles 8radford, Citizens State Bank, Monticello F. A. Rising, Treas . Winona Savings Bank, Winona . Theo Wold, Merchants Bank, Winona A . W . Laird, Second National Bank, Winona L . Kelboyer, Chippewa Co unty Bank, Montevideo. K Galbraith, Third National Kank, St.Louis, Mo W. ~ Hains . National Bank of Commerce, Minneapolis Graceville. W. H. Baland, Big Stone County Bank, Jos.Chapman,Jr., Sec'y Minn. Bankers' Assn, Minneapolis t1iE NORTHWESTERN BANKER. . GERMAN SAVINGS BANK, 01\VENVt)RT, 16W1\. CASH CAPITAL $500tooo.oo. H. LISCHER. JENS LORENZEN. T. A. MURPHY. STATEMENT, JUNE 30, 1900. ASSETS. Loans ............................................ $5,710,456.06 593,~7.23 Cash on Hand and in Banks.......... ..... ..... ... 110 , 7_-49 Cash in Transit .. .................................. Real Estate and Furniture , Fixtures.... ........... 74 976 64 Total Assets.................................. $6,489,567.42 LIABILITIES . Deposits .... ---· ........ --·- -··- .. ---- . . .... . . . . . . . $5,737,36o.41 500,000.00 Capital Stock ............. ·--- ........ --·· .... ·----100,000 oo Surplus .. --·.·---'·· .... --·· .... __ ...... --·· ...... ____ 152,207.01 Undivided Profits ..... ·--- ........ -·-· .. --·- ____ .... Total Liabilities ____ ........ --··.............. $6,489,567.42 DIRECTORS. OTTO ALBRECHT. H. H . ANDRESEN. P, H. ORIOOS. 15 H. O. SBIPPERT. CHARLBS N. VOSS. L. WAHLE. MINNESOTA CONVENTION NOTES. H. LISCHER, Vice- Pres. H. H . ANDRESEN, President. J. F. BREDOW, Ass·t Cash. CHAS . N. VOSS, Cashier. IOWA NEWS AND .NO'l'ES. This year's convention was the best ever held by Every Iowa bank not now a member of the State the association. There was a large attendance and Association slwuld remit five dollars to the treasurer, L. The annual bankers' F. · Potter, of Harlan, and "get in.'' As a matter of considerable enthusiasm. convention is growing in favor each year, among the prqftt and loss in money you can't afford to stay out. bankers' wives and daughters, as well as the bankers themselves. There is talk of starting a bank at Rose Hill, The second annual bankers' excursion was taken Mahaska county. immediately after the convention. A large party The Dubuque Savings Bank had deposits of over took the steamer ''Quincy" at Winona, and made the $312,000 June 30th. trip to St. Louis and return. A most enjoyable trip The State Bank at Williams is preparing to erect is reported. These annual outings are growing in a fine bank building. popularity among the bankers. The Citizens National Bank of Lyons has gone The officers of the association for last year have into voluntary liquidation. r~ason to feel proud of the growth in membership · The new Virginia- bank has been enlarging and and general interest during the year just closed. improving its banking room. Secretary Chapman has made his "calling and elecThe interior of the State Bank of Stafford has • tion sure" by becoming indispensable. He has given a been much improved by papering, etc. great deal of time and energy to association matters D. J. Patteet president of the First National Bank and he certainly [\lerits the thanks and help of every of Perry, is at Okoboji with his family. member. The Second National Bank of Dubuque had $80,000 The association will probably adopt the group surplus and undivided profits, June 30th. system next year. It ought to prove a success in The Citizens Bank of Mediapolis have increased their capital stock from $25,000 to $50,000. Minnesota. The Farmers Savings Bank of Keota say the crop in Keokuk county was never better. prospect It is possible that bcfo e 1901 the Russian governMiss Blanche Clark, assistant cashier of the Ogden ment may establish in New York City a branch of the Imperial Bank of Russia. Such a bank would State Bank, has been visiting at Minneapolis. not do a aeneral banking business, being mainly a The Citizens State Bank of Dunlap is being disbursing office for the Russia~ ~overnment_ whic_h improved by the addition of a fine brick vault. annually disburses about ten m1ll1on dollars m this A Mason City paper says that a Lake City banker country for various kinds of supplies and materials. has put up $1,000 on the election of McKinley. The first three months after the new financial law The First National Bank of Manning has recently was in effect 362 applications were received by the comptroller of the currency for the organization of increased its circulation from $10,000 to $25,000. national banks, with a combined capital of over A. C. Miller, cashier of the Home Savings Bank $16,000,000. 280 of the above have capital of less of Des Moines is taking a much needed vacation. than $50,000. During this time the actual number of Mrs. C. E. Bale, of Manson, wife of the cashier of banks organized was I 59, with combined capital of the Calhoun County Bank, died there recently. of about $9,000,000. Since the middle of March there Jacob F. Blackman, assistant c1.shier of the First has been an increase of about $35,000,000 in amount of bonds on deposit to secure circulation and about N ation·al Bank of Stuart, was married in June to Miss $52,000,000 increase in the amount of national bank Della Herriott, only daughter of Iowa's State treasurer. notes in circulation. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16 THE NORTHWESTER.N BANK.ER. July, 1900. !PTHE NALJMAN COMPANY !P Successors to BECK, NAUMAN & WATTS CO. MANUFACTURERS OF ~1llISl1lIG BANI\_ FIXTllU~ES. PLANS, SPECIFICATIONS AND ESTIMATES FURNISHED ON APPLICATION. We also Make All Kinds of Office and Store fixtures, Plate Glass Show Cases, Etc. Write us, THE NAUMAN COMPANY, 315-327 Cedar Street, Waterloo, Iowa. The Des Moines National Bank has added $15,000 to its surplus, now having $30,000 in surplus accounl. Cashier B. R. Brundage, of the Bank or Rudd, was married June 6th to Miss Mary E. Bissell, of Dexter, Iowa. Smith & Cramer, real estate dealers of Ames, contemplate opening a new bank there about the first of the year. S. H. Keer is now cashier of the State Savings Bank at Rolfe, taking the place of C. A. Grant, who resigned. A June wedding at Tipton was that of Mr. K. C. Ferman, of Cedar Rapids. to Miss Carrie M'. Elwood, of Tipton. The Farmers and Merchants State Bank. Marion, have declared their usual semi-annual dividend of 4 per cent. J. W. Miles has sold out his interests in the bank at Manchester, but does not go out of the bank until February, 1901. The Farmers and Mechanics Savings Bank of Davenport declared their regular 21/z per cent. dividend payable July 1st. Frank G. Cook, assistant cashier of the Marengo Savings Bank was married recently to Miss Alta Con.rad, also of that city. The Davenport Savings Bank had, on June 30th, over $2,840,000 of deposits, $300,000 capital, and over $73,00_0 undivided profits. Frank Crepps, who was assistant cashier in the Farmers Loan_and Trust Co.'s Bank at Alta, is taking a vacation on account of his health. H. H. Fitch, for several years editor of the Sac Sun's farm department, has resigned his position to enter the banking business at Lytton. Arthur Reynolds, president of the Des Moines National Bank, has gone to Europe, the Paris exposition, etc., for a two months' vacation. The Gowrie Savings Ba-n k was to open July 1st with S. E. Campbell, president, H. H. Hall, vicepresident and W. E. Bomberger, cashier. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rudolph C. Ballstadt, assistant cashier of the Calhoun County Bank at Manson, and Miss Matilda E. Gutz of Pomeroy, were married June 28th. The Peoples Trust and Savings Bank of Clinton, in their last statement, show deposits nearly $3,3 00,000. Their total resources are $3.684,961. 19. . A woman succeeded in passing several {orged checks on Sioux City business firms, getting some $50 in money over the amount of her purchases. The comptroller of the currency gives Grundy Center as the present post-office address for the First National Bank of Dike, recently organized. F. G. Sherman, cashier Bank of Sully, Sully, says that the demand for money in that locality is strong. Deposits better than ever before and still increasing. H. B. Hawley, president of the Bankers Accident Insurance Cor:npany of Des Moines, was thrown from his horse Thursday, July 12th, a d quite seriously injured. The German Savings Bank of Davenport now has deposits of nearly $6,000,000, with capital of $500,000. surplus, $100,000 and undivided profits of over $152,000 . Mr. W. H. Freeman, president of the Citizens State Bank of Oakland, takes a trip to the Paris exposition and other points of interest in the Eastern hemisphere. Sioux City bank clearings for the week ending July 5th showed a gain of over 56 per cent. over the ~ame week in 1899. For the month of June they were $5,239,010.14. W.W. Brumskill, formerly with the Northwestern State Bank of Hawarden, has purchased an interest in the Bank of Chatsworth, Sioux county, and has been elected cashier. The Des Moines post-office is second to none in the United States in receipts, taking into considerati0n the population. June 30th closed the fiscal year. The yearly report gives a net increase in post-office receipts of 17.7 per cent. The total twelve months' receipts last year were $251,525.13. For this year they were $295,752 36, or a gain of $44,227.23. THE NORTHWESTERS BANKER. July, 1900. ~~~~~~~~~~~~""' WITH A PAID UP CAPITAL OF $300,000.00 . . .. DEPOSITS NEARLY $3,300,000.00 ! Che peo;~:;Tc;~:;:;;$8:~~~gs ----. CLINTON, IOWA, !I f I Banh, , rr Offers its services to individua1s and corporations having Banking business in the State of Iowa, promising courteous treatment, prompt returns for collections, and the lowest rates consistent with sound and profitable banking methods. ~ OFFICERS AND DIRECTORS. I ARTEMUS LAMB, CHAS. F ALDEN, L. Lamb, T. M. Gobble, · President Vice-President D. Langan, J H . INGWERS EN, G. E. LAMB, S. W. Gardiner, Cashier . Ass't Cashier j A . M. 1ngwer.::ien. I ~~,~~~ ~""'~~~~ Hamilton County State Bank. at Webster City, Earl Duffin, cashier of the Clayton County Bank, Guttenberg, says business is booming-their deposits June 30th, had deposits of $510,592.30, with a capi:. larger than ever before. Rates are low but the tal of $100,000. They have undivided profits of $28,658.51; cash on hand and in banks, $242,625 .58. demand at present good. Glidden is to have a new bank--The Farmers and A report from Emmetsburg dated June I 8th, says three bank robbers have been convicted there and Merchants--which will be the third bank at that each sentenced to the penitentiary for seven years. place. J. Coder, former assistant-cashier of the First National Bank of Glidden, is said to be the moving The fourth is being tried. spirit. Frank Wilson has resigned his position as cashier At Walnut last month was celebrated the wedding of the Jasper county Bank of Newton and will engage of John W. Streib to Miss Gertrude Regina Stewart. in other lines of business. A. C. Keinath has been Mr. Streib is head bookkeeper in the Merchants elect~d cashier in his stead. National Bank of Clinton, which city will be their Articles renewing the incorporation o_f the Mar- home. shalltown State Bank have been filed. The bank F. E. Watkins, president of the First National has just completed twenty years of its existence and Bank of Hawarden, reports business in general as its first articles have expired. very good in that section. Real estate values Minister Conger now in such eminent danger in improving every day. First class prospects of a China was at one time an Iowa banker, having good crop in Sioux county. opened the banking house of Conger, Pierce & Co., The Citizens State Bank of Oakland, of which W. at Dexter, Dallas county, in 1874. H. Freeman is president and E. F. Wentz, cashier, The Jewell Record of the 5th inst. says: "Homer shows deposits of ne,arly $I 57,000 in their statement A. Miller, cashier of the Des Moines Saving Ba_nk, of June 30th. They had at that time over $72,000 was in attendance at the meeting of the directors in cash on hand and in banks. of the State Bank of Jewell this week. The Bennett Savings bank, D. H. Snoke, president, We have recently had the pleasure of a call from and Wm. Bierkamp, Jr., cashier, had deposits in June, our old time friend Frank R. Crocker, cashier of the 1898, of $82,750, and Juue 1 3oth, 1qoo, $149,352, with First National Bank of Chariton, who reports bus- capital, $20,000, undivided profits, $4,106. The bank iness good in that city and with his bank. was organized September, 1897. The Farmers Bank and. the Bank of Titonka have We understand that Chas. Pasche, cashier of the combined into The First National Bank of Titonka, Iowa National Bank of Davenport, and others interwith G. S. Gilbertson, president; H. G. Gardner, ested with him, have offered to start a bank at Le vice-president; and G. L. Dalton, cashier. Claire, Scott county, if the citizens there will subWe understand Homer A. Miller, cashier of the scribe for a portion of the stock. Des Moines Savings Bank has purchased a ten thouThe Farmers State Bank of Lake Mills, Winnesand dollar home on Grand Avenue-Des Moines bago county, say crops look good. Heads of wheat , most exclusive and beautiful residence street. are a little short. Corn is excellent. Fair call for Since the passage of the currency law, applications money; farm loans at 5 per cent., commercial paper have been filed with the comptroller of the currency at 8 per cent.; deposits increasing. to organize thirty-nine national banks in Iowa. FifThe Maple Valley Savings Bank at Battle Creek, teen of these have been authorized to begin business. in statement of June 30th, show capital stock $25,000, The Iowa National Bank of Davenport now has surplus, $25,000, profits on hand of $5,200, and deposdeposits of over $ 1,000,000, and undivided profits of its, $110,000; loans of $121,352. This bank is evi$28,000. The Iowa National seems to be going "from dently a money maker and the officers, W. H. James, victory unto victory," as a Methodist brother would president, and H.J. Snover, cashier, to be congratulated. say. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TlIE NORTlIWilSTER.N BANKElt 18 july, 1906. Report o:f tlie Condition o:f The Cedar Rapids National Bank of Iowa. Comptrolle1.•'s Call, June 29, 1000. RESOURCES. Loans and Discounts ... . .. . . . .. . ... . ..... . .... . . .. ....... . . $ 707,805.74 Overdrafts .. ... . . . ... ..•...... ... ......... . ........ , , . , . , . - . . . . . . 1,994.29 r:Ji~ft~t~~~~-~·- a_t_~-~~ ......... ::: :: :. : ::: :::: ::: :: :: ::~~~: :: : : :: : : U. S. Bonds, at par .. . . ................ . .............. . $230,000.00 Due from Banks . .. .. . .. . .. .. . . . .. . . .. .. .. . . . .. .. .. .. 789,553.02 Cash and U . S. Treasurer.... .......... . ......... . . . . . 134,251.28 1,153,804.30 1s:i~:~ GEO. B. LANE, MINNEAPOLIS, MINN. Total . ..... . . .. ... . ...... ... ... ... .. ........ .. ......... . $1,891,654.33 LIABILITIES. . Capital.... .. ........ . .. ............. .... ... .... ........... . $ 100,000.00 Surplus and Profits, net ................ .. .. .. .. .. . . . .. . . .. . .. .. . . 61,148.30 Reserved for Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300.00 Divid ends Unpaid... . .. .. . . ... ............... .. . . . . . . . . . . . . . •. . 12.00 Individual and Bank Deposits ............................... . . 1,561,194.03 United States Deposits .. . . .. .. . . .. .. . . .. . .. .. . .. .. .. .. . . .. .. .. 66,000.00 Circulating Notes . .. . ................ . . . . . . . . . . . . . . . . . . . • . . . . . . 100,000.00 CAREFULLY SELECTED COMMERCIAL PAPER AND COLLATERAL LOANS. REFERENCES: ANY MINNEAPOLIS BANK. We are much. pleased to find, as we have had time for it, that the addresses made at the Iowa Bankers' convention read well-hearing them was very inter_e sting-to read them is also to get much good from brilliant and useful ideas expressed. · The Security National Bank of Sioux City has filed a claim against the estate of the late John E. Robson, who was murdered in December. 1899, in his office in Sioux City. The claim is for $14,000 on notes, less a small amount that has been paid. The Reasnor Bank at Reasnor, Jasper county, is a private bank opened June 2d, with a capital of iro000. Josiah Fisher is the president and W. A. Williamson, cashier. Mr. Williamson informs us ,that the prospect ·is good for a large business in the future. E. F. Wentz, cashier of the Citizens State Bank of Oakland, is chairman, and T. K. Elliott, cashier o.f the Commercial State Bank of Essex, succeeds himself as secretary of Group One, Iowa Bankers' Asso·ciation. We look for active work in this group the coming year. Chas. Creglow, cashier of the Doon Savings Bank, says prospects were never better than at present for 3. good crop of all kinds of grain and hay. ·That part of Iowa is all right-it always is-farmers are getting rich raising fat cattle and hogs and harvesting big crops. Lewis Slimmer, proprietor of the Butler County Bank at Clarksville, informs us that the demand for money in that locality is light. Real estate loans range fr<?m . 5 to 6 per cent.; lands are .c onstantly increasing in value and quite a good many farms have changed hands lately. C. J. Wohlenberg, cashier of the Holstein Savings Bank, was in Sac City · Monday, having returned by way of the Milwaukee line from Dickinson county, where he investigated as to some farm lands alleged to be for sale cheap. He returned to increase the price of his Ida county h6ldings.-- S un. J. D. Edmundson, president of the First National Bank of Council Bluffs, has purchased residence property in Des Moines which he expects to occupy this fall, making the capital city his future home. We are informed by Mr. Edmundson that he does not expect to engage actively in business in Des Moines. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I Total.. .. .. .. .. . . .. .. .. .. .. .. .. .. .. . . Special . .... ..... . . $1,891,654.33 Attention to ... . ........ {!:r-:.:;:~::::...:-:r:eouuto. The Northwestern State Bank of Hawarden has been sold to A . G. Anderson, of Janesville, Wisconsin, Peter A. Ring, of Big Springs, South Dakota, and Andrew Ring and A. H. Ring, who will continue the business under the name of Northwestern Bank of Hawarden, with Andrew Ring, cashier. I. M. Sproull, cashier of the Wayland Savings Bank, has accepted a more lucrative positjon with a bank at Washington and will be succeeded by Ezra Eicher, at present in the creamery business near Noble. - The change will take place about September rst. Mr. Eicher is said to be a man of good business ability. · Mr. J. B. Alexander, assistant cashier of the First National Bank of Storm Lake, was recently married to Miss Edna Meyers of that city. We have known Mr. Alexander from his· early boyhood, and while expressing our high regard for his many sterling qualities, we also wish him much happiness in his new relationship in life. Following are the recent changes in national b~nk officers: Frank E. Stearns, vice-president First National Bank, Garden Grove; Theo. P. Redder, assistant cashier First National Bank, Gladbrook; Jas. H. Mercer, vice-president First National Bank, Chelsea; I. C. Brubacher, assistant cashier First National Bank, Sioux City. The State Security Bank~ of Sioux Rapids, on June 30th, had. a surplus of $4 ,000 and undivided profits of $1,200; deposits, $209,000. President C. B. Mills is keeping his bank and business up to a high standard. We are informed he is interested in and a director of the •State Bank of Jeffers, Minnesota, which opened for business July 2d. R. D. McCook, president of the Riceville State Bank, writes us that they have organized the Citizens State Bank of Sumner. Iowa, with $50,000 capital and expect to open for business about September 1st, as soon as their building is completed. Their officers are: Chauncy Carpenter, president, R. D. McCook, vice-president, and Nelson McCook, cashier. Judge Bishop, of Des Moines, has rendered a decision in support of a demurrer, in the case of the Iowa Central Building and Loan Association vs . Wilson et al., in which he holds that the retroactive clause of the new building and loan law passed by the legislature last spring is unconstitutional, and that contracts made under the old law are binding. TiiE NOllTEWESTEita· BANKE.ti July, 1900. Designated Depositotry of the United States. The LEADING HOTEL IN IOWA. 0 .too....................................................... Cbt.. t• national Bank Of tbt , o o o o o o o o o o, .i • • Capital ; One Million '+t Dollars. DES MOINES, IOWA. !";"'"! R~PUblic, Rates $3.00 to $4.50 per day. t. . . . . . . . . . . . . . . . . . . . . . ... FIRST-CLASS CAFE IN CONNECTION WITH HOTEL. OF C::S::::CC~G-0., MICROSCOPIST. ' ~ •.• Officers •.• - I ! The Ottumwa Savings Bank, in their statement of June 30th, have deposits of over $408,000, capital $50,000, with surplus and profits, $25,000. In June, '97, their deposits were $241, 000; in June, '99, they were $358,000, showing a very steady increase in business. Frank Von Schrader is president and B. P. Brown, cashier. It is the oldest savings bank in the county. The directors of the First National Bank of Shenandoah declared the regular semi-annual dividend of six per cent. and carried forward $7,000.00 to surplus fund. Their additions to surplus fund amount to $20,000.00 in the last eighteen months. Thos. H. Read is p,.re_sident and Elbert A. Read, cashier of this fine bank and it is very evident they are hustlers for business. The Tripoli Savings Bank report: "In this locality prospects are good yet oats and hay will be light on account of drouth. Corn good. Farmers are all prosperous. Interest rates 5 to 8 with an average of 6 per cent. Deposits steadily increase. Several farms have changed hands this year averaging at least $50 per acre. Business in all lines is in a very satisfactory condition.'' Among the stockholders in the new Wesley National Bank are Geo. C. Call, of Algona; Hon. G. S. Gilbertson, of Forest City; Thos. Daylor, retired merchant, of Britt; Chris Maguire, capitalist, of Kansas City; Chas. Miller, large land-holder in Kossuth and Hancock counties, of Tonica, Ill.; Hon. A. B. Cummins, of Des _Moines; Hon. W. L. Eaton, of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Manager. HENRY L. TOLMAN, Is prepared to act as a Depository for National Banks and Bankers, and beli.eving that its facilities for making collections throughout the West and North west are as good as the best, confidently solicits the business of those contemplating opening a Chicago account .. .. .... . . JORN A . LYNCH, President. W. T. FENTON, Vice-President and Cashier. J . H. CAMERON, Ass't Cashier. H. R. KENT, Ass't Cashier. R. M. McKINNEY, 2nd Ass't Cashie,. W. L. BROWN, Microscopical and Chemical Examinations of Forged or Altered Documents; of adulterations of Food, and of Blood Stains, Textile Fabrics, Woods and Minerals. Photographs and Enlargements made when desired. ROOM 929, CHICAGO OPERA HOUSE BUILDING. CHICAGO. Osage, Hon. A. B. Funk of Spirit Lake, Capt. H. H. Bush of Garner, and R. P. Johnson, capitalist of Northwood. June 30th, Des Moines banks had in cash and exchange $5,202,496.97, a gain of over $9 00,000 ·over their holdings April 10th, as then reported to the clearing house. June 30th, their deposits were $14,605. 245.82, a gain of over $I ,500,000. Loans and discounts, $10,397,021.41; an increase of $765,068.36 for the same period. The clearings for the week ending July 14th, were $1,517,168 52. An exchange says: "Wm . Lang has temporarily resigned his position at the Wilton Savings Bank, and will spend a month in the harvest field." · The world's best men are made of the kind of stuff there would appear to be in this young man. The spirit that will take Wm. Lang out of the bank into the harvest field will push him to the front. · The world has use for many others like him. J. Fred Toy, assistant cashier in the Commercial State Bank of Storm Lake, Iowa, for the past two years, has resigned his position and will go to Sioux City, where he will be associated with his father, James F. Toy, president and manager of the First National Bank and the Farmers Loan & Trust Company. Fred W. Kammann, of Charter Oak, Iowa, will take the position of assistant cashier at Storm Lake. C. J. Martin, cashier of the Citizens Bank of Churdan, writes: ''We are now located in our new building and everything is in a promising condition in this locality; our deposits have thri bled during the past 1 THE NO.RTHW.ESTERN BANKER. 20 July, 1900. . ···································································································•it••························································································ .... ~ N(w parh(r Curhish Bath R.ooms, ~EQUITABLE BUILDING, DES MOINES, IOWA .~ *---------------r-:--r-------------* ~. • • • (b~ Bank~rs 0f 10wa . . . A~e invited to try these Baths. 'The finest and best equipped west of Ghicago Thirty-six Different Baths, Massage, Electric, Shampoo, Gabinet, 'Turkish, and every style of Electric Bath known to science. A Swimming Pool 12X30 feet, where bathers can enjoy a soft water' plunge four months and money is very easy here. Crops were never more promising at this time of the year, and it begins to look as if the farmers would need high top boots to wade through the prosperity this fall." A very neatly gotten up comparative statement of the deposits of the Farmers State Bank of Dyersville shows their deposits in 1896, as $6,096; in 1897, $36,823; in 1898, $105,332; in 1899, $229,608; and June 3otlf, 1900, $357,161. This. is a very rapid increase of business and a large line of deposits for a country bank having a $ 30,000 capital. We congratulate president Langel and cashier Zurawski on their condition. Since our last publication the Iowa National Bank of Des Moines has been appointed reserve agent for the following banks: The First National Bank of Ft. Dodge; First National of Iowa Falls; First National of Eldora; First National of Harlan; First National of Guthrie Center, and the Oskaloosa National of Oskaloosa. Since July. 1899, the deposits of the Iowa National have increased from $493,022 to $955,528 in July, 1900. In addition to change of officers of the Commercial Savings Bank of Milford, mentioned elsewhere.we learn that A. L. Luick, who ha5 been assistant cashier, has accepted the cashiershi p of the State Bank of Belmond, and S. A. Schneider, now assistant cashier of the First National Bank of Garner, will take his place at Milford. The comptroller has approved the application of the Commercial Savings to nationalize. G. W. Mason, cashier of the Bank of Kanawha, Hancock county, reports: "Banking business with us very good. Deposits increasing. Our town is growing very fast. From nothing a year ago, we now have three hundred and fifty inhabitants. Within four months land has increased in price $5 per acre and is now selling at from $38 to $50 per acre. The prospects are good for this to make a town of twelve hundred inside of four years. The W~terloo Reporter says:- "The Nauqian Co. is now at work on a number of big jobs. Among the orders recently placed with them are a bank outfit for Cripple Cree~, Colo., another for Vinton and one https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I.. !. /'1)~ ,ro~ : $ $ I $ i . The Equitable Bath Rooms have twenty-four separate sleeping rooms , where people wishing to stay all night after taking a bath will find as good a convenience as at any hotel in the cit v. Their valuables will be taken care of and returned t.o the owners in the morning. A nice Turkish Bath with n eat and comfortable bed room to sleep in, a nice shave in the morning b y good artists, and your shoes shined, all for $ 1. Who would not take advantage of this? Equitable Building, Sixth and Locust. BENJ. F. PARKER, Manager. for Sheffield, Iowa. They also are now working on comple te store outfits for a clothing store, hardware store and drygoods store at Clarion, Iowa." Our readers will find the advertis~ment of this firm in the ,pages of the BANKER. Jas. E. Bruce, of Anita, who was formerly owner of the Bank of Brayton, was recently elected Grand Junior Warden of the Masonic Grand Lodge of Iowa. Mr. Bruce is a very popular man and numbers his friends by the thousand, and many of them live in and around Brayton. All who know him unite in saying that the honor could not have been more worthily bestowed, and hope some day he will be further honored by being elected Grand Master. The Commercial Savings bank of Milford now has H. S. Abbott as cashier. Mr. Abbott has, for the past five years. been the assistant cashier, and enters upon the duties of cashier fully equipped for effective work. P. Rasmussen is president.- They send us a novel advertising card in the shape of a bank pass book apparently ready, with checks and currency in its folded pages, to take to the bank for deposit. It is one of the neatest things of the kind we have seen. James F. Toy, president of the Farmers Loan & Trust Company, has completed the reorganization of the First N r1tional Bank of Sioux City and it commenced business JulY, 1st, under the most favorable conditions, with James F. Toy, president, and T. A. Black, cashier. The bank has a capital of $200,000. Its recent statement shows over $1, 000,000 deposits and over $500,000 in cash. We will have more to say later regarding this, our information coming too late for mention in this number. Clyde E. Brenton, cashier of the bank of Dallas Center, replying to our inquiry says: "Yes we have opened the bank of Granger, at Granger, with Chas. R. Brenton, president; C. Ellerman and Clyde E. Brenton as vice-presidents, and L. H. Kensly as cashier. The bank is a private one and will have responsiblity of $500,000. It is our intention that the people of Granger shall have as good banking facilities as any town in Iowa. We are now erecting a suitable building and will soon be located permanently." a THE NORTHWESTERN BANKER. July, 1900. WM. H. BRINTNALL, President. JOHN BROWN, • Vice-President. WM. A. TI~D N, THE DROVERS NATIONAL BANK, UNION STOCK YARDS, CHICAGO. (taa,lt41, $150,000.00. * sura,tus Profits, AND Cashier. T o B anks and Bankers Having- More or Le~s Live Stock Business, this B ank O:ffers Excep1;ional Advanta~es, and Solicits Co1.·respondence as t o Term s and Facilities. T. K. Peterson, cashier Badger Savings Bank of Badger, Webster county, informs us that their deposits have more than doubled in two years; that the demand for money is good at 8 per cent.; farm loans are being made at 5 and 6 per cent.; land worth about $60 per acre; very little for sale. He thinks money will be more plenty as the price of farm products is advancing and crops never looked better for this time of the year. Corn is tasseling out in that vicinity, which, for June, was something new. A. Dixon, president of the State Savings Bank of Coon Rapids, writes: "We have no complaint to make about our business. Our deposits are now $105,000-twice what they were two years agomoney plenty, and rates are some lower. Demand for money is only moderate." They have increased their capital to $25,000 and expect . to nationalize. Coon Rapids is in a fine section of country and there is no doubt of the success of the State Savings Bank. C. L. Walker, cashier of the Grinnell Savings.Bank, died at Grinnell June 25th. He was born in New Hampshire and was 65 years of age. In January last, knowing he could no longer attend to his duties, he resigned and W. S. Walker was elected to the position. Cashier 'VV-talker informs us that their business generally was never better, though the demand fo r money is not sufficient to keep all their tunds employed. I nterest rates, 5 to 7 per cent. They have lately remodeled their banking room, put in steel ceiling and new fixtures. T he Denison Bulletin of June 21st, says: "The bankers of Iowa, at their meeting in Des Moines last week, declared a good many things, as usual. They are great fellows to see things that need 'fixin'. They declared the bankruptcy law a gigantic humbug and a nuisance, which it is in many ways. It is a g rand do<lge for t he dishonest debtor who wants to use it to .let himself out of his obligations. and is a sore pill to the creditor who wants to force some poor debtor· into giving him a first claim on his life a nd all his belongings." The co ntrolling interest in the Citizens State Bank at Sioux Ce nter has changed hands having been purchase d by Mille r & Thompson, proprietors of the Lyon County Bank, of Rock Rapids, and Chas. Creglow, cashier of the Doon Savings Bank. The new officers of the bank are 0. P. Miller, president. Chas. Creglow, vice-president, T. Prius, cashier, and Neal Moun, assistant cashier. The bank starts with good prospects. I n that m3:gnificent farming and stock country there is no reason why a bank with such officers as the above hould not succeed and. pay big· dividends, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 $103,000.00. The press dispatches all over the state announcing the death of A. L. Ormsby, "a prominent banker · and citizen of Etnmetsburg," led many to believe that the dispatch referred to Col. E. S. Ormsby. Among the many thus misled was the e::;ditor of this journal. The genial colonel is not only very much alive but if we may judge by the continued rapid growth of his bank, the Farmers Savings of Emmetsburg, he has lost none of his old-time vigor and business enterpri5e. The gentleman referred to in the press dispatches was A. L. Ormsby, a brother. Farmers Exchange State Bank of Dows has largely increased its business of late and has reason to feel very well satisfied with the increase as shown by comparative statements sent us. On the 14th of March, 1892, they had capital stock, $45,000; deposits, $30,335, with about $52,000 in loans, $3,000 in real estate and $20,000 in cash. While on March 14th, 1900, with the same capital stock, their profits about $2,000 and deposits $98,000; loans, $111,000; nearly $13,000 in real estate, and $21,000 in cash. The total footings about double those of -1892. John R. Welch, cashier 6£ First State Bank of Mapleton, sends us some of the souvenirs which he has been lately giving to each lady visiting his bank. They are very handsomely decorated and embossed fans. . We have no doubt that the number of lady customers for a time were much increased. We think the idea quite a commendable one. Mr. Welch writes us they had a very satisfactory business lait year with a good demand for money and increased deposits. Very littie land has been changing hands but what has been sold brought good prices. He looks for a strong demand for land t.his fall. We recently had the pleasure of meeting Mr. W. F. Swayze, cashier of the First National Bank of Nevada. while he was making a business trip to .the city. Mr. Swayze informs us that the deposits of the First National of Nevada are in excess of $330,000. They have paid 5 per cent. semi-annual dividends right along and have now $50,000 capital; surplus and undivided earnings of about $35,000. Mr. Swayze is also . interested in the Farmers Savings Bank of Roland. For the latter bank they have contracted for an $8,000 bank building, one of the finest blocks of the kind in central Iowa, considering the size of the town. The fact, however, that they have deposits in excess of $100,000 suggests that the business will justify the erection of such a building. Not quite a5 many cattle are being carried by farmers of that locality as usual, but every thing is in a prosperous condition and , the outlook far fall business could hardly be excelled. THE NORTHWESTERN BANKER. 22 July, 1900. Hlways in Hd"ance with )'iew Ideas and Designs. 'Cb( pion((r pr(ss · Company, ST. PAUL, MINNESOTA. BOORS, SEE 'PIONHR PRfSS BlANKBOOKS ... .9Jank cSupplies... Lithographing, BlanR "you I ALLOVER THE NORTHWESt' Printing. Write for BooRlet, "Hints on Organizing National Banl{s." MINNESOTA NEWS A.ND NOTES. C. P. Russell is vice-president First National, Eyota. The City Bank at, Goodhue is now open for business. Crops in Blue Earth and Waseca counties are said to be very good. The First National Bank of Hartland is to put up a new bank building. S. H. Taylor vice-president and V. A. Greer assistant cashier of First National, Elmore. C. M. Doughty, vice-president, J. A. Pearson, assistant cashier, First National, Heron Lake. G. H. Prince is vice-president and L. M . Bolter, cashier, of the new First National of Cloquet The Northwestern National Bank of Minneapolis had resources of nearly $ 7,000,000 June 30th. Their deposits are over $5,300,000. . The Martin County National of Fairmont, capital $25,000, and First National of Ellsworth, capital $25,000, are new Minnesota national banks. The State Bank, of Young America, began business the first of the month with the following officers: Aug. F. Truwe, president; Henry L. Simons, vicepresident; F. S. Mayer, cashier. Capital, $10,000. Bank clearings in Minneapolis for the week ending July 5th, showed an increase over the corresponding week a year ago of 22 per cent. For the month of June they were nea1y $8,000,000 greater than for June, .1899. The Merchants National Bank of St. Paul had, June 30th, nearly $4,000,000 in deposits. Their circulation is $200,000, cash and in banks $1,228,000, with a capital of $1,000,000. They had net undivided profits of over $100,000. The Faribault County R eqister publishes the following in its last number concerning the opinion of a man who has been in the county for 30 years: "Elmer Franklin says that if nothing happens between now and harvest time to injure the grain, he looks for the b~~t crop ~~n in Faribault county for 10 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis years. 'It will be the best moneyed crop, at least,' continued he, 'and there will be a good yield.'" Minneapolis is said to be flooded with bugus five dollar bills. They are the one dollar silver certificates with the "r" removed with acids and "5" very cleverly printed in its place, making a very deceptive bill. The following changes in national bank officers since our last issue: Alais N eurn is now cashier of the First National Bank, Slayton, in place of Ira J. Hoover, who resigned to accept the responsible ' position of assistant cashier in the Leavitt & Johnson National Bank at Waterloo, in which he was employed before going to Slayton. Rollin B. Delano, former bookkeeper at the Merchants National Bank of St. Paul, was drowned Sunday, July rst, in Lake Minnetonka, less than a quarter of a mile from the station of Northwood. Mr. Delano was prominent in St. Paul through his con. nection with the bank and more recently with the Nort~western Mutual Life Insurance Company. The State Bank of Jeffers, Cottonwood county, Minnes·ota, was opened for business the 2nd of this month with F. E. Duroe as president, E. M. Duroe, vice-president, and C. R. Duroe, cashier. The directors are the above officers and J. J. Duroe, and C. B. Mills, president of the State Security Bank of Sioux Rapids, Iowa. The town of Jeffers is fortunate in having a bank handled by such. reliabl~ men. The Minneapolis TrilYune says: "With all this talk about the great advance in lumber, it hasn't been very much. The lumber in a$3,500 house, for instance, has only advanced about $75. Lumber will never be as cheap as it was in '93, as the log _s upply is getting low in this State; forests are getting further away from the streams, thereby increasing the cost of hauling, the price of carrying timber is now higher, taxes are higher, and the cost of labor is 20 per cent. higher than in that year." · A report from Stephen, Marshall Co., dated July 4th, says: "Crop prospects have greatly improved the past week as we have had several heavy rains. On July 1st we had the hardest rain that ever fell in Stephen. Of course the wheat crop will be light, but the late rains will make the barley and' flax crop. July, 1900. THE NORTHWESTERN BANKER. CAPITAL STOCK, $100,000.00. OF.l<'ICERS. G. L. DOBSON, President. D. G. DDM UNDSON Vice-President CALVIN MANNIN G , 2d Vice-President. GEO E . PEARSALL. Treasurer. · N. E. COFFIN , Counsel, P . M. STARN.ts , Secretary. DIRECTORS. Leslie M. S~aw, 9o vernor of Iowa; Geo . L. Dobson, Secretary of State ; Geo. E . Pearsall, Cashier C1t1 ze i:is Nat '! Bank; D. G Edmundson, President Security Loan ;i nd _Trust Co., D es Momes . lo"."a; N. E . Coffin? of Dud~ey & Co~n, Attorneys; P . M. Starnes. Secre tary, Des Mo~nes, Iowa; Calvm Mannmg, Cashier Iowa National Bank. Ottumwa. Iowa_: F . W. Simmon s, Wholesale Hardware, Ottumwa, Iowa ; Dr . . S: J. Pat_terson, Cashier Di,mlap Bank, Dunlap, Iowa; L ewis Haas, Cashi er Woodbme Savmgs Bank, Woodbme, Iowa. - - -- - - - - - DO YQl! WANTtoownaro-YearGoldBond ? DO YOU WANT to pay for 1t m ms tallm ents ? DO VOL! WANT to have your unpaid installments ca_nceled at your death . and one-thud more cash than you have paid gi ven your family or estate ? DO YOU WANT an investm ent which will be as safe as Iowa farm mor tgages can make , held in trust by the state of Iowa, and which will be gua ranteed to you or your estate? IP YOU DO a ppl y for a 10-YEAR ACCUMULATIVE CiOLO BONO FROM Insurance Men with Good Records will find it to their interests to address the Home Office, Crocker Bldg., Des Moines, Iowa, NATIONAL T HE LIFE AND TRUST CO., DES MOINES, IOWA, An absoluJely new contract in the fi eld and one which it will pay you to examine. Hay will be a short crop, but there will be plenty of Bank of Bottineau, North Dakota. Mr. Stabeck will straw, so the stock will not suffer. Some hail fell be president and C. L. Newhouse, cashier. They here on July 1st, but it did little or no damage." will erect a new stone bank building this summer. From various reports the state generally has had The new First National Bank, of Sisseton, South similar rainfalls and the crop prospect is greatly Dakota, has for president J. A. Rickert; for cashier, improved. H. S. Morris. Their new bank building is expected I. C. Thornton, cashier of the Bank of Benson, to be ready very soon when they will commence Swift county, writes us: '°'Demand for money has business. improved very much here and we have enjoyed a NEBRASKA NEWS AND NOTES. very large increase in our business. We expect to make a number of farm loans in the fall and could use 0. ]. Ellis is now cashier of the First National 5 per cent. money to good advantage. Crops promise Bank of Wakefield. · good. The land here stands the drouth very well First National Bank of Loomis, capital $25,000, has and in my drives about the country I have seen some excellent crops. Real estate is in great demand and received the comptroller's certificate to do business. The Exchange Bank at Ogalalla, Keith county, moving rapidly. Prices have of course gone up .and which has been runniqg during the past three years they are not near the top yet. The advance is $10 per acre in some localities, in others it has not yet by J. W. Welpton as a private bank, is now incorporated under the Nebraska law with a paid up capital been· felt so strong but will work that way too." H. Welpton is president and J. W. The following reserve agents have been approved of $10,000. for Minnesota national banks: Merchants National Welpton, cashier. We are pleas_e d to note the suc• Bank, St. Paul, Metropolitan National Bank, Chicago, cess of J. W. Welpton, who was born and received and National Bank of the Republic, N. Y., for First his first financial and commercial experience in Iowa, National, Winnebago. First National Bank, Min- having been in business at Red Oak, where his first neapolis, Hanover National Bank, N. Y., for First thousand dollars was made. National Bank of Ada. Seaboard National Bank, IOWA NEWS AND NOTES 'CONTINUED. N. Y., Union National Bank, Chicago, for First National Bank, Elmore. Hanover National Bank, Wm. Buxt~rn. Jr., cashier of the Warren County N. Y., and American National Bank, Chicago, for First National Bank of Eyot?-. Seaboard National Bank at Indianola, says the demand for money is Bank, N. Y., First National Bank, Chicago, and good at 7 and ·8 per cent. Farm loans at 5 per cent. Merchants National Bank, St.- Paul, for Martin and small commission. Crop prospects never better. County National Bank, Fairmont. Continental There is usually a large number of cattle fed in National Bank, Chicago, for First National Bank, Warren county but hethinks not as many this season as usual. The Warren County Bank has be.e n making Rochester. fine progress, their deposits July 1st, 1898, were $167,000, July 1st, 1899, $262,000, and July 1st, 1900, DAKOTA NEWS AND NOTES. $312,000, with loans and discounts of $289,000; an The Bankers National Bank, Chicago, h'a s been ap- increase of business which speaks well for the manpointed as reserve agent for the First National Bank agement of the bank and also for the prosperity of the community. of Sisseton, South Dakota. · At the recent annual stockholders' meeting held The crop of South Dakota, especially south qf a line drawn from Sioux Falls west, have never been by the Castana Savings Bank, at Castana, the better. South of Mitchell and all about Yankton old directors were all re-elected for the ensuing year. Owing to ill health Lyman Whitthey are in fin<! condition. T. Stabeck, president of the Farmers Bank of tier, who has been president of the bank Davis, Illinois, and of the banking firm of Gold, since 1897, desired to be relieved of the presiStabeck & Co., of Revere, Minnesota, has with some dency, and W. T. Day, who has been cashier Qtb~rs, purchased the stock of the Bottineau County since th~ bank was organized, in 1892, was elected to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 24 THE NORTHWESTERN BANKER. July, 1900. Th6 BGST in RubDBr Stamos, S6alS1Et6. THE"TRIUMr H." Self-inker, air-cushioned, with or without dates. JHIS STAMP arranged for Paid Stamp, with Dates, $1.25 Die, 1¼x2 inches. Die, 1-½x2t. WE CARRY A FULL LINE OF R ubber Stamps and Stamp Supplies. YOUR ORDERS SOLICITED AND FILLED ON SHORT NOTICE. 4:2 ·50 WithandDate.Die. cP • DBS MoinBs «ubbBr Stamoworks, DES MOINES, IOWA. succeed him in that position. S. L. Willits, who has been a member of the board of directors since organization, was elected vice-president. C. T. Hansen, who has held the position of assistant cashier since July 1, 1~94, was elected to succeed W. T. Day as cashier. . The Citizens National Bank of Cedar Falls, with a $50,000 capital, is a new national concern. The new organization will succeed to the business of the Citizens Bank, which started about one year ago, and has worked up an exceptional amount of business for so short a time, having over $75,000 deposits and about an equal amount of loans. L. H. Severin, the president of the bank, is a strong financial man having been in the loaning business the past 2 5 years. M r. Adam Boyser, the vice-president, and W. N. - Hostrap, the cashier, also stand well in the community and have a la·r ge following, and together with the new board of directors, the Citizens National Ban~ of Cedar Falls is sure to merit abundant success. The following new Iowa national banks have been approved: First National Bank of New London, capital $25,000, Robert S. Gillis, president. First National Bank, Guthrie Center, capital $30,000, Carl H. Lane, cashier. . Exchange National Bank, Leon, capital $35,000. First National Bank Brighton, .capital $25,000. First National Bank, Armstrong, · capital $50,000, B. F. Robinson, president, L. P. Gjermo, cashier, mention of which will be found elsewhere. First National Bank, Elma, capital $30,000. Citizens National Bank, Cedar Falls, capital $50,000. First National Bank Wesley, capital $25,000; Nathan Studer, president, Stitzel X. Way, cashier. First National Bank, Gladbrook, capital $50,000; ~ m. Mee, president, Martin Mee,· cashier. First National Bank of Dougherty, capital $25,000. The following reserve agents for Iowa national banks have been approved by the comptroller of the currency since our last issue: Bankers National Bank, Chicago, for First National of Chelsea. First National Bank of Chicago for First National, Council Bluffs. Continental National Bank. Chicago, Des Moines National Bank. Iowa National Bank of Des Moin.~s, ~pd Clia?e Nationa.l Bank of New York, for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Air Cushion, Flexible Handle, for Paid Stamp, etc., with or without Dates. First National of Guthrie Center. Continental National Bank, Chicago, for First National, of Armstrong. Fourth National, New York, and First National of Chicago, for First National of Clutier. Western National, New York, for Citizens National Davenport. Hanover National, New York, for First National, Dayton. Metropolitan National, Chicago, for First National, Lost Nation. National Bank of Commerce, New York, for Iowa National Bank Des Moines. First National Bank, Chicago, and Chase National, New York, for First National Gladbrook. Corn Exchange National Bank of Chicago for First National, Sioux City. The following are some new banks organized since our last issue: The Stout .Bank of Stout, Grundy county, Iowa, ca-pital $27,500; John Voodg, president, and J. B. Hesseniussen, cashier. Marengo Savings Bank, capital $50,000. Mt. Union Savings Bank, capital $25,000. Iowa State Bank, Mason City, capital $50,000. New ·Hartford State Bank, capital $35,000. State Savings Ba_n k, Grand River, capital $10,000. Citizens State Bank, Dysart, capital $50,000. Westchester Savings Bank, capital $12,000. Gowrie Savings Bank, capital $25,000; J. C. Campbell, president, and W.W. Bomberger, cashier. State Savings Bank, Cromwell, capital $10,000; T. S. H:Daugherty, president, E. N. Da·ugherty, cashier. Lytton Savings Bank; H. H. Fitch, president, and S. S. Schug, cashier. Moorhead State Bank, Monona county, capital $30,000. Ryan State Bank, Delaware county, capital $25,000. Blakesburg Savings Bank, Wapello county, capital $10,000. Huntington Savings Bank, Emmett county, capital $10,000. Marshalltown State Bank, capital $100,000. A new savings bank, with a capital of $:5,000, will be opened at 'Stockport. A new bank is being organized at Burks, Adams county, a small town near Corning. . We learn from R. C. Lubiens, cashier of the Saint Ansgar Bank, that they are going to have a new home for their increasing business. It will be a solid brick 26x40, two story and basement, a beautiful building of the Moorish style of archit~ctu re with either brown stone or granite trimmings. The first story front to have two large arches and plates, the second three arches, two centers supported by July, 1900. THE NORTHWESTERN BANKER. polished granite columns, balcony front, with plate glass about three feet back of columns. Cashier Lubiens, who has the active management of the The bank, reports a very satisfactory business. bank has a responsibility of about $300,000 and since 1896 their loans and deposits have about doubled. A specialty has been made of cattle and real estate loans. That locality is settled mainly with thrifty Germans and Scandinavians with whom Cashier Lubiens being "one dutch man" finds it pleasant, profitable, and safe to do business. They are in a rich and beautiful country. The outlook is for an excellent crop. Pastures have not been up to the average so that farmers are not carrying the usual amount of cattle. Avery Bush, of Osage, president ot the Osage National Hank is also president of the St. Ansgar Bank. Tne First National Bank of Armstrong, Emmet county, Iowa, opened for business July 2d, with a capital of 50,000.00 as the successor of the Armstrong Bank of Robinson & Dows, an institution that has been very successful, and identified with every movement for the development of the county and the up-building of the town. The First National Bank succeeds to the splendid business of the old bank. It has a list of.forty substantial stockholders many of them being well-to-do farmers of the vicinity while others are successful and prosperous busiThe ness meµ of Armstrong and other places. president of the new bank, B. F. Robinson, is one of the most successful and conservative bankers in Northwestern Iowa. This fact is fully established by the wonderful growth and progress of the institution with which he has been connected as cashier and manager, having been largely interested in organizing the Armstrong Bank in the summer of 1892, with the first organization of the town. The vicepresident is John Dows, whose name is a guarantee of confidence. He has been identified with the town from the time the first stake was driven, and is largely interested in Armstrong real estate. In addition to his banking and the local interests, he is one of the best known and most successful railroad contractors in the West. L. P. Gjermo, who has been connected with the Armstrong Bank for several years, is the cashier. Mr. Gjermo is thoroughly conversant with every detail of the banking business and brings to his new position the benefit of many years of practical experience; is also a Scandinavian, and with his knowledge of the different languages, is particularly strong for the position. He ranks as one of the best accountants in Iowa. The board of directors is composed of the following well known citizens whose successful business career guarantees that the interests of all concerned will be looked after and carefully guarded. Directors: B. F. Robinson, John Dows, Wm. Stuart, C. W. Crim, and C. B. Mathews. With such men to guide its affairs. and such strong financial backing, we predict for the First National Bank of Armstrong, a very successful career. ·The National Bank of the Republic, Chicago, under the able management of W. T. Fenton, its vice-president and cashier, has had, and is still having, a No bank stands higher in th_e remarkable growth. estimation of Northwestern bankers than does this one. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKS, SAFES AND FIXfUllES FOR SALE--POSITIONS [Reading locals in this column will be printed at a cost of soc. a line 10 words to tbe line, for first insertion; 25c. a line for subsequent insertions.] Will buy small bank. S. A. Darland, Scranton, Iowa. FoR SALE- A Hall steel chest, with Yale time lock. Address B., NORTHWESTERN BANKER PuB. Co., Des Moines. FoR SALE.- Owing to a cha.nge of quarters, our fixtures are for sale at a bargain. Address Elkader State Bank, Elkader, Iowa. A BANKER of experience desires to hear of a good town requiring a bank. Address P. L., care ORTHWESTERN BANKER. WANTED-Several small time lock safes ; also furniture and vault fixtures. Must be cheap. Address Smith, care NORTH WESTERN BANKER, Des Moines, Iowa. WANTED-Position of trust in a bank. Six years experience, best of references, bond if desired. Write for details. Address EXTRA, care THE NORTHWESTERN BANKER. WANTED-Position in a good bank with prospect of advancement as merited, by young man of experience, now cashier of country bank. Address, "CASHIER," care NORTHWESTERN BANKER.' EXPERIENCED Cashier with capital to invest desires position in bank in southern locality. Duties to commence January r, 1901. Address, A. D., care Ta:E NORTH WESTERN BANKER. WANTED-A young man with some experience as bookkeeper and stenographer in country bank. Answer in own handwriting, giving experience and Address BANKER, care THE NORTHreferences. WESTERN BANKER. WANTED-Position in bank by young man, 21 years of age; had three years' experience in book and counter work. Present employers as reference. Address, W. B. M., Care NORTHWESTERN BANKER, Des Moines, Iowa. WANTED -By a banker of considerable ~xperience in country banking in Iowa, stock in a bank, located in a town of three to five thousand in N .-W. Iowa, with expectation to take charge of bank. Address, P. W. C., care NORTHWESTERN BANKER. GENERAL NEWS AND NOTES. Attention of any one having safes for sale is called to the card of "Smith" in our For Sale column. The Bankers National Bank of Chicago on June 29th had deposits of $11,085,418, a gain of about 375 per cent. in the last five years. We again direct attention to the statements of the Northwestern National Bank of Minneapolis, and the Second National Bank of Dubuque. These are not only good banks, but their sta.tements are clear and complete. John Jay Abbott, assistant cashier of the American Trust and Savings Bank, Chicago, informs us that since the auditor's cc}.ll for a statement their deposits have gone up a .million dollars, which would take them over. 12,000,000. THE NORTHWESTER.N BANKER. July, 1900. SPECIAL LIST OF MINNESOTA BANKS. ALPHABETICALLY ARRANGED BY TOW.NS. Showing Name of Bank, Town ;nd Oou,nty, Capital, Surplus and Undivided Profits, Names of Officers and Special Facilities for the Transaction of Business intrusted to their care. ..l.LBER11 LE.A., ( Albert Lea National Bank. Co.pit1tl, $50,000. · Freeborn County . . . . . Surplus and Un~ivided Profits, H. D. Brown, President. u. R. P. Hibbs, Vice-President. C. B. Kellar, Cashier. Genera.I ba.nking business transacted. $12,000. AUSTIN, {Aust.in NaU.onal Bank. Capital, 1!50,000. Mower County ..... . . . Surplus and Profits, 1!5,000. G. Schleuder, President. • F. I. Urane, Vice-President. J. L. Mitchell, Cashier. Prompi and careful attention given to all business. REDWOOD FALLS, . /Redwood County Bank. Authorized Capital , $50,000. Paid Up Capital, $25,000. Redwood County · · · • • · Surplus, $2,000. , A. C. Burmeister, Pres ident. H. D. Baldwin, Vice-Pri>s ident. H. A. Baldwin, Cashier. General banking business transacted. BLUE EARTH, {Farmers & Merchants State Bank. Capital, 1!25,000. Faribault County . . . . Geo. D . McArthur. President. Alex. Anderson, Vice-President. Jos. S. Ulland, Cashier. F. H. Davis, Assistant Cashier. Minnesota ta.rm mortgages and collections a specialty. FA.RIB!. ULT, \ Citiz:ns Natio~al Bank. Capital, $80.000. Rice County. . . . . . . . . . Surplus and Profits, l!o0,000 GRANITE FALLS, tYellow !Hedi cine County Bank• Capital, $25,000, Yellow Medicine Co... Surplus, 15,000. . F . H. Wellcome, President. J F. Langmaid, Vice-President. Bert Winter, Cashier. Prompt attenti on paid to collections and other business entrusted to us . MA.RS HA.LL, Lyon County National Bank. Capital. $50.000. Surplus, $5,0C0. C. H. 'ryler, President. . D. D. Forbes, Vice-President. Jotln G. Sctlutz, Cashier. W. S. Little, Assistant Cashier. Collections promptly attended to and remitted on day of payment. LJon COun t Y · · · · · · · • f MONTEVIDEO, { Citizens State Bank. Capital, $30,000. Chippewa County.. . . . Deposits and Profits, $128,000. Established 1879. Incorporated 1890. C. D. Griffith, President. M. E. Titus, Cashier. Western Minnesota and eastern Dakota farm loans. Especial attention given to collections. ROCHESTER, Union National Bank. Capital, $50,000. Surplus, $1:i,000. E A. Knowlton, President. W. L. Brackenridge. Vice-President. A. C. Gooding, Cashier. John Hall, Assistant Cashier. Special attention given to collections. ., Olmsted County . . . . . . WA.SEC.A., { Peoples Bank. Capital, $25,000. Waseca County....... Organized in 1881 Hudsou Wilson, President. . F. A. Berry, Vice-President. Geo. Pease, Cashier. Lynne Peavey, Assistant Cashier. Special attention given to collections. a s a State Bank. E. C. Trowbridge, President. R. P. Ward, Cashier. F. M. Bailey, Assistant Cashier. General banking business transacted. Collections a specialty. F.A.IRllONT, \ Martin Countv Bank. • Capital and Su"rplus, 70,000. Marton County ........ A. L. Ward, President. WORTHINGTON, {Nobles C<'unty Bank. Indi..vidual Responsibility, Nobles County . . . . . . . . E. A. Lynd, President. • 0 Geo. Wohlheter, Vice-President. A. C. Frey, Cashier. Oldest and largest bank in county. Farm loans and collections a specialty GLENCOE, MCLeod COunt y .. · · · · · · Banking business transacted, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis { Bank of Glencoe. Capital, 1!50,000. Surplus, $10,000. G. K. Gilbert, President. A. J. Snyder, Vice-President, L. W. Gilbert, Cashier. E. H. Carson, Assistant Cashier. Farm loans a specialty. · 1!200,000. W. M. Evans, Cashier. A. W. Fagerstrom, Assistant Cashier. Farm Loans and Collections a specialty, J uly, THE NORTHWESTER.N BANKER. 1900. 27 SPECIAL LIST OF IOWA BANKS. ALPHABETICALLY ARRANGED BY TOWNS. Slwwinq N ame of B ank, Town and Cmtnty, Capital, Surplus and Undivided Profits, Names of Officers and Sp ecial F acilities f or the Transaction of B usiness intrusted to their care. I • Peoples Trust aud Savings Bank. f Adel Stat e Bank. A.DEL, • Capital, $50,000. Undivided Prollts, $5,000. D a 11 as Coun t Y · · · · · · · · T. J . Caldwell, Presid e nt. { W. B. Kinnick, VicP.-Presideut. S. M. L each, Cashier. Ha nk in g in a ll its branches. l Cha.rl es F . A ld~n, Vice-P;esident. J. H. IngwersP.n, Cashier . G. E. Lamb, Assistant Cashier. Mon ey to loan on Iowa farm lauds. CORNING, First Natio11aJ Bank. ALGONA, Capita.I, $50.000 00. Su r plus and Undivided Profits , $10,000.00 . Kossuth Connt.y . . . . . . Amb rose A Call, Pres ide nt. D. H Hutchins, Vice-President. { Onl y N atio n a l Ha.n k i n Wm . K. Ferguson, Ca.shier. Koss u t h Cou nty. C. A. Palmer, Assistant Ca.~hier . Prom p t at tention paid to a.II businelils entrusted to us. Corning State Savings Bank, f Capita.I, $100.000. Surplus and Un_divided Profits , $55,500. S. L. Moore, Pres ident. E .E. Hughes, Vice-President. J. H. Herma n, Cashier. Does a. genera.I ban king and collectin·g business. Boone County .. .. .. . .. E . A. Scliolz, Vice- President. F. L . La Rue, Ca.shier. \ W. H . Clark, Assistant Cashier. General banking bu s in ess tran sacted . Fa.rm Joans a s pecialty. ( First S tate B ank of Corwith. W. E Crum, Pres ident. Ed. E . Cass, Cashier. General banking busi ness tm11sa.cted. DA. VEN PORT {The Centerville National Bank. Cap ital, 1!50,000. Surplus an d Undivided Profits , $14,94i. Jos. Goss, Vice-President. G. M. Harnett, Cashier . Does a general banki ng business. Special attention given to coll ection~ . Securit.y Saviugs Bank. Capita.I, $:i0,000. . and Undivided Profits, $20,000. JG.Surplus F . Van Vechten , Pres id ent l C. J . Ives, Fir~t Vice-PrPsid e 11t. J . R . Am idon, Sec_ond Vice-PresidPnt. E. M . Scott, Ca.shie r .• l owa. fa.rm leans a specialty. Interest paid on deposits. f CHARITON, L ucas C01111 t,y · · · · · · · ·t ' DAVKNPORl', · Capital, $50,ooo. Surplus and U ndivided Profits, $45,000. S. H . Mallorv, Pres id e nt. James lira.don, Vice-President . F. R. Crock er Cashier. · W. P . Beem, Assistant Cashier ' ( Citi zens National Bank. I Ca pital, $~00,000.00. Surplu s, $100,000 oo. F. H. Grig:gs, PrPsident. R obert Krau se, Vice-President. A u,z. A . Ballufl', Cashier . L F. C. Kroeger , As s' t. Cashier. A gen e ral banki ng busin ess tri;.n sa.cted. Special atte ntion to coll ec tio n s. Scott County .. • • • • • • • • i I DENISON, First National Bank. Crawford Coun t S late Bank. Capita.I. $100,000. Undivided Profits, 1 10,000. Crawford County . .. . . . L . Cornwell, P_res iden~. Geo. Naeve, V1ce-Pres1den t . { M. E. Jones, Cashier. • C. J . Kemming, Assistant Ca.shier. • Does a ge neral banking bminess. Complete set of a.bst!ac t s or Cr awford county. Winneshiek County Bank. {Cheroke~ State Bank. . Ca.pita.I, $7i>,0OO. Su rplus and Undivided Profits,$11.500. J . C. Ha.II, Presid e nt . J . H. Groves Vice-President. E. D. Huxfo r d, Cashier . Ex ception al fac ilities for collections and placing fa.rm loans . Ch ero k ee COlin t Y · · · · · daµita.l, !200,000. Surplus and Undivided Profits, $76,484. Uhr. Mueller, Vice-P resident. · General banking business U . A. Mast, Cashier. tranRacted. George Hoehn , Assistant Cashier . 'l'be firs t Nationa.l BaJJk in ope ration in the United States commen c ed bu,inf'SS Jun e 20, 1863. B a nking in a.II its bran ches. CHEROKEE ( First National Bank. Scott County . . . . . . . . . A. Burdick. President. F. M, Drak P., President. Linn Connty ........ . ow a S tate Sav ings Bank. Capitn.l, $50,000. } Surplus, $6,000. P . J Santee, Vice-President. I. B. Santee, Ca.shier. 1 CEDAR RAPIDS, A ge n e ral banking anct coll ectio n bu s iness tra nsacted. D ANBURY-, j Danbury S tat e Bank. ·W Uapltal, $30,000. oodbury County ... . \ Godfrey Durst, P resi deut. Oapit.a.1, $50,000. Monona County Surplus and P r ofits , $7,500. W. 'l'. Day., P resid P. ut. S . D. Willits, Vice -Pr eoid t nt. _ C. 'r. Hansen, Cashier. enera.l banking bu sine, s . Negotiators or choice Iowa fa.rm loan s . ' I Ca pital, $60,000. i o . H . Stils on , President. Sapp, Victi-P resident. Ca s hi er. IL J.L.M .H.H.H .Staudrin,r, Staud r ini, A ss't. Cashier. Jas Griffin, Vice-Presid ent, Ji~. D . Hall. Cashier. Scott Arm strong. As s't Cashier. Ge neral baukin,r and mortgage ·oa11 s. The Castana Saviugs Bank. Appanoose C01111ty. ... · Union County ......... \ John Gibson, Pre~ident. - Bank ing in all i ts b ran ches. CENTERVILLE H a ncoc k C011n t Y CRESTON, BEDFORD, lBedrord Bank. Taylor County . .. . . . . . Capital and suqilus, $60,000. Capital, $35,000. Surplus, $8.000. U . Profits , $4,765 A.dams Count y . . ... - . A. F. Okey, President. CO.RWI'l'H , { First Naion a.l Bank. BOONE, Ca pi ta.I, $300,000. Clin ton Count y ...... A:t~~1t~sLa~~bunt/ev~\~~~1profits, $58,000. DE~ORAH, Capital, $100,000. Responsibility, $300,000. J. Wei_ser , Pr~sident._ Winneshiek County... C. L. A.. Wei ser, V1ce-Pres1dent. E . W . D. Holway, Ca.shier, . H.B . Hnstvedt, Assistant Cashier. The most careful attention g iven collections. t DES MOINES, Central State Bank. 215 Fifih St. • Capital, $50.000. Surplus and Und. Profits, 16,000. P olk Couuty •• • • · · • • • • { M a.rtin 'l'uttle, President. H . A. Elliott, Vice-P resident. J. D. Whisena nd, Ca shier . Speoia l f a cilities for Des Moines collec tions, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE NORTHWESTERN BANKER. 28 July, 1900. SPECIAL LIST OP IOWA BANKS-«.:o,ntinued. The Early State Bank. E.A.RLY, J Ca pital a nd Surplu s , $31,500 . Sac County . . . . . . . . . . s. K. Fuller, Pres ide nt. A. Maso n , Vice-President. N. O. Fuller, Cas hier . L E. M. Fuller, Ass' t . Cas hier. A general banking and collection business transacted. I First National Bank. ELDORA., I Capital, $50,000. JWarren Co .. nty Bank. INDIANOLA,. l Ce.pita.I, $60,UOO. Surplus, $20,000. ):'residen_t. Wm . Watts, V1ce-Pres1dent. Wm . Buxto n, Jr., Cashier. F. C. Sigler, Assistant Cashier. Prompt attention paid to collections aJ!d other business intrusted tons. Warren County ....... Wm . Buxton. IOWA ClTI, {Iowa City State Bank. Ce.pita! , $65,000. Johnson County....... Euclid Sanders. _Preside!lt, J H. Bales, President. D . E. Byam, Vice-President. W. J . Murray, Cashier. Collections will receive careful and prompt attention. D. F. Sawyer, V1ce-Pres1dent P. A . Korab, Cashier. J. C. Switzer Assistant Cashier Does a. ge n e ral banking business . EMMETSBURG, { Farmers Savings Bank. Capital, $25,000. Palo Alto County . . . . E. s. Ormsby, President. KEOSAUQUA, Hardin County ....... H. A. Powers, Vice-Preaident. 0 . W. Hodgkinson, Cas hier. Collection ■ and farm loans specialties. Keosauqua State Bank. Van Buren County.... Ce.pita.I, $27.800. Undivided Profits, $4,700. H. H. 'l'rimble, ):'residen_t. { J. N. Norton, Vice President. J . L . Tberme, Cashier. Collections a specie.I featur e. - - - - - -·. - - - - - - - - - - - - - - - - - - - - - - - FOREST CITY, (Forest Citv National Bank. b ,, t J Capital, 1!50,000. • W mne ago '-!Ollll y. • · Surplus , $10,000. 'l C. J. 'l'hompson, President. G. S . Gilbertson , Ca~hier. LOGAN, ( Harrison Con nty Bank. Harns County. . . . . . . . A . L . Harvey. A . w. Ford. ' Bankers and Real Estate. General banking business transacted. Farm loans a specialty. F.A.IRFIELD, {First National Bank. Capital, $100,000. Jeff'erson County . . . . . Surplu s , $~0.000. . H. S. McElhmny, President. Rollin J. Wilson, Vice-President, Frank Light, Cas hier. Only national bank in Jeffer8on county. Does a general banking busi ness. Prompt attention to collection s . . GLENWOOD, [Mills County National Bank. Capital , $65,000. Mills County......... Surplus, $26,000. D. L. Hein s heimer, Preside nt. F . M. Buffington, Vice-Pres ident A. C. Sabin , Cashier. A. D. Fre nch, Ass't Cashier. General banking business transacted . GREENFIELD, (Citizens Bank. Adair County ••••••••• A. P. Littleton, President. Vern C. Littleton, Cas hier. General banking business trans a cted. HAMPTON [The Citizen& Bank. ' Established in 1875. Ua.pital, $55,000. Franklin County ..... . Responsibility, $300,000. A. R. Carter, Pres ide nt. N. W . Beebe, Vice -President 'l'. J.B. Robinson, Ca.shier. Do a genera.I conservative banking business . Money t o loan on real estate The Peoples Bank. HUMBOLDT, Capital, 1100,000. Surplus, $16,000. Humboldt Coun ty .... . \G. L. Tremain, President. J ' N . H. Knowles, Vice-Pres ident. J. W . Foster, Ce.shier. W.W. Sterns, A s st. Cashier. • All business given good attention . B.A.RLAN, !Harlan Bank. Responsibility, $75,000. Sh elb Y Count Y• · · · • • • · Fred Albert us, Pres ide nt. George Walters . Cashi e r. Minnie V. Walters , Ass istant Ce.s hier. Transacts a genera.I banking business. Collecti0ns receive prompt atteutention. INDEPENDENCE, I,,uchanan County • · • • • First National ·Bank. Capital $100,000. Surplus and Un~ivided Profits, $77,000. R. Campbell, President. { E. Leach, Vice-President, W. W. Donnan, Cashier. Colleotions receive prompt and careful attention. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Complete set of abstracts of Harrison county. LE MARS, ('l'he Le Mars National Bank. Pl ymou th Co nIlty · · · · · Capital, $100.000. Surplus and Undivided Profits, 1!5,000. G. O . Maclugan, President. T . F. Ward, V.ice-Preqident. Frank Koob, Ce.shier. Collections a s pecialty. MASON CITY, (First National Bank. Cerro Gordo County · · · MANCHESTER, Capital, $1i0.000 . Surplu ~ and Un_divided Profits, $55,000. H . I. Smith, President. W. D. Balch, Vice-President. C. H. McNider, Cas hier. F. E . Keller, Assistant Cashier. /First National Bank. Capital $50 000. Surpl~ s and Un_divided Profits, $15,000. J. W . Miles, President. w. H . Norris, 1st Vice-President. R.R. Robinson, 2d Vice-President. M. F. LeRoy, Ce.sh. B. F. Miles, Asst. Cash Prompt and careful attention given all business. Delaware Co llll ty • · · · · MONTICELLO, l ( The .Monticello State Bank. Jones County... . .... Capital, $100,000. Surplus, $n0,000. s. s. Farwell, President. Frank M. Hicks, Vice-President. H. M. Carpenter,Uashier. H . S. Richardson, Assistant Ce.shier. Money to loan on Iowa fa.rm land s . MARENGO, (Marengo Savings Bank. Capital, $50,000. Iowa County•• • • • • • • • · M~U:k\~v~~~•~~s ident. J. N . W, Rumpl e, Vice-President, A. M. Heuderson, Cashier. Frank Cook, Assistant Cashier. Conduct a. g e neral banking business . Prompt attention given to collections MONTEZUMA, . Poweshiek County.. . . A general banking business . fFirst National Bank. l Capital, $50,000. Undivid ed Profits, $12,000. J ohn Ha I, Sr., President. John Hall, Jr., Ce.shier. E. D. Rayburn, Assistant Ca.shier. Collections receive special attention. July, THE NORTHWEST.ERN BANKER. 1900. SPECIAL l,IST OF JO,VA BANKS-Continued. MT. PLEA.SA.NT, SPENCER, fFirs National Bank. Capital, $100,000. Heury County....... . Surplus, $20,000. . _ J )W. G. Saund~rs, Pres1 ent. E . L. Penn, Vice-President, '£ J. Van Hon, Co.shier. W. E Keeler, Assistant Cashier, _Does a general b11.nking business. Collections attended to, MT. A.YR, Ringgold County {.Mt. A.yr Bank. Responsibility $1~0,000. Geo, S. Allyn, Cashier. Jno. H . Allyn, Assistant Cashier. ' ···· G neral Banking business transacted. Far~ loans, real estate and abstracts NEWTON, · {First National Bank. Capital, $50,000. Jasper County Surplus and Undivided Profits, $20,000 . · · · • · · · Cnester Sloanaker President. E. E Lyday, Cashier. Lee E . Hrown, Assistant Cashier Gen~{ &~. banking business transacted. Collections receive special atten {The Citizens State Bank. Capital authorized, 150.000. Capit_a l paid up, $25,000. Surplus, 11,000. Franklrn Floete, President. Andrew R. Smith. Vice-President. Ackley Hubbard, Cashier. All business entrusted to our care carefully and pormptly transacted. Clay County... ........ SIDNEY, {Fremont County Bank. Fremont County...... Capital, $25,000. J. H . McDonald, President, H. H. McDonald, Cashier. Special facilities for collections. STORM LA.KE {First National n ·ank. • ' Ctt.pital, $50,000. Surplus, $10,000. Buena Vista County ... w. E. Brown. President. E. C. Cowles, Vice-President, A.H. Waitt, Cashier. 'l'. T. Harker, Assistant Cashier. One of the special features of this bank is its collection and farm loan department. 0 TA.MA (First National Bank. ' , Capital, 150,000. Tama Uounty .... :.. . Surplus, $50,000. ONA.WA., { Holbrook & Bro. Monona County....... Establi~hed 1858. P. K. Holhrook, Cashier. General Banking Business tro.macted. w~ ..nake a speci11.lty of promptness in furnishing abstracts. Farm mort- gages for sale . OSCEOLA, { Simmons & Co., Bankers. ' Clarke County . ...... . Capital, $55,000. We own a full and complete set of ahstract books for Clarke County. r Mahaska OSKALOOSA., ~ Mahaska County ...... Il . Does a general banking business. Collections recPive special attention. ( Oskaloosa National Bank. OSKALOOSA.. Mahaska County . . County Slate Bank. Capit .. l, $100,000. S11rplus and undivided profits, $27,000, W. R Lacey, President. H. S. Howard, Vice-President. John R. Barnes, Cashier. \ j · ·· l Capital, $50.000. Surplus and Undivided Profits, ia6,124. W. H. Kalbach, President. A. general banking business transacted. POCA.HONTA.S ( City Exchange Bank. Pocahontas County ... ~ Will D . McEwen. Joseph l Simpson. Bankers and Real Estate, Collections a specialty. General banking business transacted. RED OAK, \Red Oak Natioual Bsink. Capital and surplus, $1~0 000. Montgomery C0Un t Y· · · B. H . Clark, President. General banking business. H. C. BinM, Vice-President. Paul P. Clark, Cashier. Collections receive special attention. J. L, Bracken, President. T. L. Williamson, Cashier. D. E. Goodell, Assistant Cashier. A general banking business transacted. WATERLOO, tThe First Nat.ional Bank. Capital, $50,000. Blackhawk COlin t y. . . . Surplus, $50.000. H.B. Allen, President. F. J. Eighmey, Cashier. Municipal, county and school bonds boui?ht and sold. Farm loans negotiated at lowest rates. Prompt service, 'SHINGTON, {Was~ington National Bank. Capital, $100,000. W.a. Surplus and Undivided Profits, $75,000. Washington County .. W . W. Wells, Pre~ident. . Wm. A. Coook, V1ce-Pres1dent. J. A. Young, Cashier. R. R. Bowland, Assistant Cashier. Doe!' a general banki.ng business . WA. VERL Y, Capital, $25,000. Surplus, $15,000. W.R. Rowman, President. W. C. Holt, Vice-Preside.at. Julian Ruddick, Cashier. A general banking business transacted. WAPELLO, {The Wapello State Savings Bank. Louisa County _. . . . . . . Capital Stock, $30.000. John Otto, President. J. F . Heins, Vice-President. W. H. Colton, Cashier. Prompt attention paid to all busin ess ntrusted to us. (0. P. Miller, J. K. P. Thompson.) Capital, $100,000. Undivided profit~, $14,100. M. A. Cox, Cashier. F. B. Parker, Assistant Cashier, Special facilities for collection in the northwest. S!.C CITY, (First National Bank, Capital, $50,000. Surplus and Profits, $16,500. D. E . Hallett, President. E. Criss, Vice-President. H. H. Allison, Cashier. H. S. Barnt, Assistant Cashier. general bl).nking bµsiness, Sac County. . . . . . . . . . . TrJLnsacts jl, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis {Citizens State Bank. WAUKON, Dr Wil.ard C. Earles, President. Mrs. J. E. Duffy, Vice-President. W. E. Beddow, Cashier. Carlton H. Earle, Assistant Cashier. Allamakee County . . . "We are hustlers on collections." {Lyon Count)' Bank. MILLER & TllOlllP80N. Lyon Coun t Y.. • • • • • • • · Co.'s Bank. Bremer County. . . . . . . General bankin~. ROCK RAPIDS, \German American Loan and Trust f Fayette County National Bank. WEST UNION, Fayette County. ....... I Surplus, Capita{, $80,000. $6,050. I S.H. B.B. Zeigler, President. Hoyt, Vice-President. ~ l Only National Bank in County. attention. E. B. Shaw, Cashier. Collections receive careful and prompt WINTERSET, [Fir1t National Bank. • Capital; 150,000. Mad11ion County• • • • · · · Surplus, $20,000. C. D. Bevington, President. W. S. Whedon, Cashier, General ba.n~}ng bqsiqes~ trn,nsac~ed , THE NORTHWESTERN BANKER. 3o July, 1900. REPRESENTATIVE IOWA -LAWYERS. ALPHABETICALLY ARRANGED BY TOWNS. Showing nam~ of Attorney or Firm, name of Town and Oownty, and special facilities for the transaction of business. No Attorney or Firm is accepted for this list unless recommended by a bank. Special effort has been made to secure the leaaing attorneys in the places represented. ( P. S. Harri . ADEL, Dallas County . ..... . .. J References: . Dall11.s County Savings B1Lnk, Adel. ) { Citizens National B!!.uk, Des Moine,;; . . Collections for Redfield, Minburn, Dallas Center, Waukee and Van Meter in my territory. \ C. W. E. S11ider. BELLE PLAINE, Benton County, ....... ~ :&ererences: Citizens National Bank. · \ ~ P. P. Kelley. GLENWOOD, Mills County · · · · · · · · · · { R1i[:~ts in Glenwood , General law business transacted, P ractice Van Buren County .... { Reference: Keosauqua State Bank. Practlcll in all state and federal courts, { D. A.. Porter. . CRESTON, R~!~~~!~~:for Creston Union County ......... MUSCA.TINE, • Practice in all courts. Potawattamie County, General Jaw practice, Notary in office. { Carskaddan & Burk. Reteren ces: First ational Bank. Cook, :Musser & Company, Trust Comp any I State Bank, Commercial business a specialty. Mnscatme Cot!nty · · · · · Practice in all courts, COUNCIL BLUFFS, all courts. Wherry & Walker. KEOSAUQUA, Practice in all courts, Comme1cial ""ork a specialty. Colle,-tions for Chelsea, Blairstown 11.nd Luzerne in my territory. National Bank, First National Bank Creston. Iowa State Savings Bank Creston, 10 Sims & Bainbridge. i References : All Banks in Pottu.wattamie County. Attorneys for R. G. Dunn & Co. Offices Chas. L. Powel. DES MOINES, References: Des Moines National Bank. Polk County, . . . . . . . . . . { Guthrie Co. National Bank, Panora, Ia. Geo. M. Reynolds, cashier Continental . NA.ti?nal Hank, Chicago, . . . Special attention given to commercial buswess, and collections. ESTHERVILLE, George W. A.dams. Emmet Couny, { J. F. & W.R. Lacey. OSKALOOSA, Reference : . Mahaska County. . . . . Practice in all courts. Oskaloosa National Bank. Mah a ska County State Hank. Do a general law business. { D. J. Murphy. WA.OKON, Allamakee County . . . Reference: Citizens State Bank. Practice in all courts. All business promptly attended to. References: National Bank, Estherville. { First Hank or Estherville. Practice, in all courts. Special attention given to commercial law and .foreign business. These Lawyers Have Been Retained by the Iowa Bankers Association. to Transact all Law Business for Them in Their Respective Counties. ALBU, Monroe County .. Wm. A. Nichol. , . •••, Reference : First National Hank. { i General Law Business-Office over First National Bank . CEDAR RAPIDS, t • C L mn Oun f · · · · · · · · · · U. C. Blake. Geo. W. Adams. DECORAH, Winneshiek County ... { Reference: Citizens Savings Bank. Practice in all courts. l,A.IRFIELD, J efferson County .... Rollin J. Wilson. References: Cedar Rapids Savings Bank (a ttorney for) . Merchants National Bank. Practice in all courts. Commercial business a specialty l make a special feature of Commercial a11d Banking Law. { Heinz & Fisher. DAVENPORT, Scott Cennty . . . . . . . . . . . Reference : { Jno. M. Hemingway. HAMPTON, Reference: F ranklin County . .. . . Any Davenport bank. A general law business. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Real estate mortgagee bought and sold. General Attorney. R efers to any ba.nk in county. Any bank in Hampton. All legal business, including collections,'promptly attended to, July, THE NORTHWESThRN BANKER. 1900. REPRESENTATIVE IOWA LA. WYERS- Continued. HARLAN, { G. W. Cullison. Shelby County... . . ... Refers to any bank in OSCEOLA., { Temple & Hardinger. Clarke County. ....... c. L. Hardini?er, County Attorney. Harlan, Law in all its· branches with special attention to commercial and banking law Special attention given to all l&w busl• ness growing out of. banking. WAVERLY, JEFFERSON, ) Owen Lovt>joy 1 Cour:ty Attorney, Greene County . . . . . . . . ) Reference: ( · Bremer County · Any bank in the county. Practice in all courts. A gen eral law b u'siness transacted, { Edward L. Smalley. ,,,,.. References: State Bank, Waverly, Iowa , Abstract office in connection, Special attention given_ to co)lections. WASHINGTON, { Marsh W. Bailey. Washington County... Reference: MASON CITY, { Cliggitt & Rule. Cerro Gordo Cou11ty,, , Refe_rences by Permission: Washington National Bank. First Nationa l Bank. Uity National Bank. Engaged in general practice in state and federal courts. to bankers' business. · Special attention Special attention to commercial law. WINTERSET, ONAWA, . { Geo. A. Oliver. llonona County. . . . . . References: · { Frederick Mott, Madison County .... ... ~ { Onawa Sta.te Bank. Local Attorney I. C. R. R. Practice in all courts. Attorney for First Nation a l Bank. of Winterset. Speci:d attention to collections. A general law business transacted. Complete abstract of Monona. county records. OSAGE, { Sweney & Lovejoy. · A . B. Lovejoy. County .Attorney, • h ll C MltC e ounty · · · · · • References: Mitchell County Bank. Osage National Bank. Farmer's National Bank. Practice in all courts. Nothing iS too Good for the -41 Our--- - - Bankers. Business is Careless or indifferent work will not hold trade. Our business is steadily growing. The inference is plain. to Supply their Stationery. ,m,~~~~ffl'~' 'lllrite us /'or cSamples and 6stimatesJ .,._ _ _ __ on anything made o/' paper. Except Greenbacks . - - -Iowa Lithographing Co. 120-122 Fourth Street. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DES MOINES, IQW A. THE NORTHWESTERN BANKER. 32 July, 1900. Valley ~atiol)al Bc;tl)~ OF DES MOINES Condensed Statement of Condition, June 29, 1900. RE.SOURCES. · Loans and Discounts, $ Overdrafts, U . S. Bonds to secure circulation, U. S. Bonds to secure U S . Deposits Stocks and Bonds, Premiums, Banking House and Fixtures, Other Real Estate and Mortgages owned, Cash and Exchange, I ,238,0 56.3 I 360.95 200,000.00 50,000.00 66,543.26 8,247.00 44,500.00 37,498.45 520,756.70 Total, LIABILITIES. Capital Stock, Surplus and Undivided Profits, Circulation, Deposits, $ 200,000.00 138,107.09 196,247.50 1,631,608.08 - - - - -·$ 2,165,962.67 Total, N W . JOHNSON. Presicieut. C. H DILWORTH. Vice•President H.. A . CH.A WFORD, Cashier. W. E. BARB.ETT, Assistant Cashier. Accounts of Banks, Firms and Individuals solicited, auct · will nceive careful attention. REPORT Oi' THE CONDl'fION OF THE 6 5 7 89 32549 85 226815 500000000 52471 321179 758589 20250 540069 7 77 4 4 3357~ 34371118 46411 12625 91947 878956 8338 58028 " Sub-totals at any point in list. ,~ Operation learned in fifteen minutes. Speed from three to five times ordinary hand work. Automatic corrections of keys wrongly hit. Used by over 6, 0 00 banks, small as well as large. Invaluable for use in all finan• cial and commercial instJ,.. tutions. ltlachines sent on trial to any responsible bank or business house. Incessantuseofthesemachines for se-ven years in largest banks in New York City finds the machines of greatest durability. American Arithmometer Co., SECOND NATIONAL BANK OF DUBUQUE, IOWA, At the Close of Business, Thursday, April 26, 1900. RESOURCES. Loe.us aud DiFcounts ~····-· · .. ··-· .... ..... ··-· ... . $787,620.27 Overdrafts._--·._ ........ ··- ........ -···-··· .. ··-·_ 327 77 U.S. Honds ·-·-·-····-·--···-·-- ............ ·--·-· 150,000.00 Other Bouds --··-· ........ ---· ·-·· ··-· ···-·· .. ··-· 227,587.52- $1,165,535.56 41,964 04 Hanking House ········--···· ..- ···-·············· 4,367 20 Othn R"al Eshte . ... ·-··-·-····-·-·············-Due from Reserve Ageut~-· ······ ···--···-·· ·-·--· $2j6,385 44 47,374.64 Due from other Banks.----··---····-····•-· -····· Cash o u Hand_···--·········-·-··········· -···· ·-· 122,657.75 Redemptiou Fund ______ ___ ·····---·····-·-·······2,500 .00 769 00429,686.83 Revenue Stamp Account.--····---···---- .... -····Total . --·· .. ---· ·- __________ .. ··-· ...•. $1,641,553 .63 ST. LOUIS, MO. :J, IA RIJ, ITIES. Capital Stock ..................................... . I 400,000.00 Surplus Fund ............ ····················-··· $58,000 .00 Undivided Profits . ....... ... . -··· .........••.. ~ ... .. 21,565.0679,565.06 Circulatiou .... .. _................... ... _.......... . 50,000.00 Deposits (Individuals) ..............••......... ··-· $315,383 .77 Deposits (Bauks) ............... .. ................ . 704,404 .80 92,200 .00- 1,111,988.57 Deposits (U.S.) ..... ••....... . ·-·· · ·············--· Total .................. ·--··· ~···-····· $1,641,553.63 O.l:4'FICEKS: GEO. H. BURCH, President. J. K. DEMING, Vice•Pres. and Cashier. HERM. EscHEN, Ass't. Ca.shier. DIRECTORS. GEO , B. BURCH, J. l\, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Wll. :Pijlll.N\11 L. BRADLEY, f, A., RUMPf, w. H. DA.Y, w;ljjlJ, H.B. GL0TIG~ I W, ~lHlH, 1