Full text of The Northwestern Banker : July 1902, Volume VII, Number 7

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Contents.

Iowa N a t51 Bank,
U. S . D E P O S I T O R Y .
DES

M O I N E S , 101nLK,

Page.

Statem ent A p r il 30, 1902:
Resources:
Loans and Discounts................
$1,378,980.93
Overdrafts.............................................
2,348.24
U. S. B o n d s..........................................
2co.ooo.oo,
Cash and Due fromBanks______ 5 0 8 ,5 7 9 .9 0
Total......................................

$2,089,909.07

L ia b ilitie s :
Capital Stock.............................. ......... $ 100,000.00
Undivided Profits.................................
4,998.26
National Bank Notes Outstanding___
100,coo 00
Real Estate.........
.................
446.93
D eposits...................................| , 8 8 4 , 4 6 3 . 8 8
Total

$2,089,909.07
D e p o s it« :

899—
April 30............................. $ 426,966.33
900—
tpril 30.........................
554.9)0.46
902-April 30............................ I , 8 8 4 ,4 6 3 .8 8
H. S. B U TLE R , President.
H. T . BLACKBURN, Vice President.
LELAN D WINDSO Cashier.R,

T h e C o n s o l id a t io n o f C it y
Ba n k s,
So u th D a k o t a B a n k s , P r iv a t e B a n k s in I o w a , N e b r a s k a G r o u p M e e t in g s ,
“ T he B oy an d the B a n k . ”
M in n e s o t a N e w s a n d N o t e s ,
N ebrask a N e w s an d N o t e s .
Da k o t a N ew s a n d N otes,
I o w a N ew s and N otes, A d d i t io n a l S t a t e I t e m s ,
T h e M in n e s o t a C o n v e n t i o n , G e n eral N e w s and N otes, N orth w estern R eal Esta te ,
P o s it io n s W a n t e d , B a n k s P o r
S a l k , E t c .,
.
.
.
S p e c i a l L is t I o w a B a n k s ,
S p e c i a l L is t M in n e s o t a B a n k s ,
S p e c i a l L ist I o w a L a w y e r s ,
-

6

7
7
8
9
ll
18
16
19
29

U. S. DEPOSITORY.

D e s M o in e s . Iowa
(§§-—

80
34
36

C a p it a l ,
S urplus,

39

J. G

.

4©
-

.

.

.

32 00 ,00 0,00
100.000.00

^ --------

41
43
43

R O U N D S , P R E S ID E N T .

J. C A L L A N A N , V IC E -P R E S ID E N T .
G E O . E . P E A R S A L L , C A S H IE R .
G E O . C O O P E R . A S S 'T C A S H IE R

(ti-----—
ACCOUNTS

S O LIC ITE D .

Ths. Bankers National Bank, Davenport Savings Bank,
Marquette Building, CHICAGO, ILL.

5 ¡§

Capital, ■ • $1,000 ,000 .

E. S. LACEY,
GEO. S. LORD, JOHN C. C RAFT, FRAN K P. JUDSON, J. C. M c NAUGHTON, -

President.
V ice-President .
Cashier.
Ass’ t . Cashier.
Ass’ t . Cashier.

¿tjt
Comparative Statement, Showing Increase in Deposits.
Deposits
Deposits
Deposits
Deposits
Deposits
Deposits
Deposits

April
April
April
April
April
April
April

30,
30,
30,
30,
30,
30,
30,

3,520,646.49
1896 ...................... ............ $
1897 ....................................
5,131,082.20
1898 .....................................
6,411,098.42
1899 ...............................•......
8,831,887 82
1900 .....................................
9,771,938.27
1901 ....................................
12 525,751 85
1902 ................................... 14,128,5 2 9 ,9 6

N e w B u s in e s s D esired and
U n e x c e lle d F a c ilitie s O ffe re d .

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Federal Reserve Bank of St. Louis

DAVENPORT, IOWA.

} CAPITAL, - - - $ 3 0 0 , 0 0 0 . 0 0 l
I UNDIVIDED PROFITS,
I 15 ,1 63 .0 3 i
3 DEPOSITS,
- - - 3,713,096.77
» * * Officers « * ’»
AN T H O N Y BURDICK, President.
LOUIS HALLER, Vice-President.
HENRY C. ST RU C K , JR., Cashier.
O T T O L. LADCNBCRGCR, Teller

» » * Directors » « *
A. Burdick
L ouis H aller ,
A. Stetfen ,
W. O. Schmidt
T homas Scott,
J. F. D ow ,
H. K ohrjs,
W. H. W ilson,
H. C. Struck, Jr .
«««

Per ceut interest paid on deposits.
Money loaned on real estate security
in the State of Iowa,

TH E N ORTH W ESTERN

2

t h e

(EIjK

BANKER.

J u ly ,

1902 .

;

BEST BAN KERS’
Commercial

PUBLICATIONS.

/fattonal. .

t

The Bankers’ Magazine. 01dest bankers’ pubiica-

¿/Sank . .

--------- ----------- -------------- - ------------ tion in America. Estab­
lished 1846. Terms, $5.00 a year. Has over double

the circulation of any other bankers’ publication
in the United Siates. Advertising rates low consid­

C h ic a g o , I l l in o is

ering the large circulation guaranteed.
Rhodes’ Journal of Banking and the Bankers’ Maga­
zine have been consolidated.

ESTABLISHED, 1864.

Capital,

-

Surplus,

-

James H. E ckels, President.

$2,000,000.00
1,000,000.00

O F F IC E R S .
D avid V ernon, 2d Vice-President.

John C, McK eon , Vice-President.
Joseph T T albert, Cashier
N. R. L osch, Assistant Cashier.

Practical Banking. (Methods^ and Machinery o f ) .
— ---------------------------------- By Claudius B Patten, for many
years Cashier of the State National Bank of Boston.
“ The best book on Banking in the English language ’ ’
Price, $5.00 a copy, or to Bank Clerks, $3.00 a copy,
when ordered in lots of ten copies or over.
The Bankers’ Directory.

Issued in January and
------------ ----------------------------------— July —corrected to date.
Price, with marginal index, $4.00 a copy; both
editions, $7.00. Plain, $3 00 a copy; $5.00 a year.

BRADFORD RHODES & CO.
F ranklin MacV eagh ,

D IR E C T O R S .
Jesse Spalding,

E. H. Gary .
W illiam J. Chalmers,

8 7 M a id e n D an e, N E W Y O R K .

Paul Morton,
Robert T. L incoln,

James H. E ckels,

John C. McK eon .

NOTICE.—Orders for the Bradford Rhodes & C o .’ s Bankers’ Publica­
tions received at publishers’ rates by T he Northwestern Banker , Des
Moines, Iowa.

The CHICAGO,

i

Milwaukee &St. Paul

2

RAILWAY
O W N S AND OPERATES

6,690 miles of thoroughly Equipped Read.
Io w a ...............................
1,790 m ile s .
W is c o n s in ............................................. 1 ,6 7 0
“
S o u th D a k o ta .................................... 1,225
“
M in n e s o t a ......................................... I, I 2 9
“
Illin o is ................................................ 3 6 0
“
U p p e r P e n in s u la of M ic h ig a n 160
“
M is s o u r i.............................................
I 46
“
N o rth D a k o ta ..................................
118
“
N e b ra s k a - .........................................
“

E le c t r ic L ig h te d T r a in s .
Equipment and Service Unequaled.

Time tables, maps and information furnished
on application to
F.

A . M i l l e r , General Passenger Agent, Chicago.


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Federal Reserve Bank of St. Louis

P U B L IS H E R S .

N. K. F airbank .

1

CAPITAL., $100,000.

3

SURPLUS, $40.000.

E S T A B L IS H E D IB 70.

ì

jj
λ

E

I Merchants National Banh I
o f

B U R L IN G T O N , IOWA.

T. W. B A R H YD T, President .
W. E. BLAK E, V ice-P resident.
J. L. EDW ARDS, Cashier .
H. J. H UNGERFORD, Asst. Cash .
S E iY I ) U S Y O U R C O L L E C T I O N S .

HENRY L. TOLMAN,

MICROSCOPIST.
Microscopical and Chemical Examina­
tions of Forged or Altered Documents; of
adulterations of Food, and of Blood Stains,
Textile Fabrics, W oods and Minerals. Pho­
tographs and Enlargements made when
desired.
RO O M 9 2 9 , C H IC A G O O PER A H O U S E B U IL D IN G

C

hicagp .

July, 1902.

TH E

N ORTH W ESTERN

BANKER

3

feit.

THE
FIRST
NATIONAL
BANK,
o f

C h ic a g o .

Corner Monroe and
Dearborn Streets.

T

CAPITAL,
and

SURPLU S,

$ 8,000,000.
A REGULAR BANKING
BUSINESS TRANSACTED.

T raveler ’ s Credits issued,
available in any part of the world.
T ransfers of Money Made
by T elegraph and Cable and
E xchange D rawn at customary
usance, on the principal cities of
the United States, Europe, Japan,
China, and the East Indias.
All kinds of F irst-Class In­
vestment Securities dealt in
constantly on hand and for sale at
current rates; a full line of Gov­
ernment Bonl>s , Municipal andLocal Bonds, Choice Railroad
Bonds.
Collections carefully made and
proceeds promptly accounted for
on moderate terms. Accounts of
banks and bankers solicited.

..T H E ,

PEOPLE’S SAVINGS BANK,
DES MOINES, IOWA.
CAPITAL—$ 10( 1, 000.
SPECIAL ATTENTION TO IOWA COLLECTIONS.

Keuort of Condition, Auditor's Call, April 5,1002.
« •Resources •«

99
BANK OFFICERS:
James B. Forgan,
President.
D avid R. Forgan ,
Vice-President.
George D. Boulton,
Vice-President.
H H. H itchcock,
Vice-President.
R ichard J. Street ,
Cashier.
Holmes Hoge,
Assistant Cashier.
A ugust Blum ,
Assistant Cashier.
E dward D ickinson,
Assistant Cashier.
F rank E. Brown ,
Assistant Cashier.
Charles N. Gillett,
Assistant Cashier.
Frank 0 . Wetmore ,
Auditor.
E mile K. Boisot,
Manager Bond Department.
John E. Gardin ,
Mgr. Foreign Exchange Dep’ t.
Max May .
Asst. Mgr. For’n Exchange Dept.

As its name implies

T h e W estern.
B a n k o _/*
o _ f
N e w

N ation al

C ity

Loans and Discounts................................................. _ .
Real E state........................................................................
Furniture.............................................................................
Overdrafts...........................................................................
Cash and E xch an ge.................................
T o ta l...............................................

In the thirteen years of its existence
it has grown with such
rapidity that its Deposits
are now about
Sixty Million Dollars

*1,235,035.26

« « Liabilities*«

Capital Stock .....................................................................
Surplus........................................................
Other Profits............ •............................... ..........................
Diuidends Unpaid................................... ...
" ”
Deposits .................................................. ........................

*100,000.00
25,000.00
13 171,46
’l60 00
1,096,703^80

T o t a l ................................................................

$1,235,035.26

•« Officers *•
Martin F lynn , President.
A. D ickey, Vice-President.
C. H. Martin . Cashier.
F rank P. F lynn, Ass’t. Cashier.

L

O

W

E

X

C

Y o r k

is a home for the metropolitan
accounts of Western banks

*985,906 2$
8,800.00
2,000.00
4,660.84
283,'868M4

R
U

R

S

A
I

O

T
N

E
S

------------- V IA -

NORTHERN PACIFIC
TO T H E N O R T H W E S T D U R IN G
SU M M ER

TH E

SEASON

Capital, Surplus
& Undivided Profits $4,000,000

JUST
Conservative management has accomplished *
this result and the policy of according
to depositors as liberal treatment
as is consistent with sound banking

Travelers’ letters of Credit issued, availa­
ble everywhere, and a general Foreign
business transacted

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Federal Reserve Bank of St. Louis

W H A T

YOU

W ANT

Write at once for particulars.

C H A S . S. FEE, Gon. Pass. Agent
St. Paul, Minn.

TH E NORTHW ESTERN

4

Des Moines
Savings Bank

July, 1902

BANKER.

SEVENTH

NEWYORKCITY

CAPITAL $400,000.
C O N D IT IO N J U N E 18, 1902.
RESOURCES:
Loans and Discounts............................. $3,833,638.19
Banking House.......................................
95,661.48
Cash and Exchange................................
592,633.08

E D W IN G O U L D , P re s id e n t.
E D W A R D R. TH O M AS, )

$ 400,000,00
103,764 67
4,018,168.08

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

$4,521,932.75

W E S O L I C IT A C C O U N T S O E B A N K S
AND B A N K E R S , A N D
PROM ISE
P R O M P T AN D COURTEOUS T R E A T ­
M E N T , W IT H S U P E R IO R F A C IL IT IE S
F O R T H E T R A N S A C T IO N OE Y O U R
B U S IN E S S .

R. W . J O N E S , Jr.
GEO. W . A D A M S ,

V ic e -P r e s . a n d C ash ier.

A s s ’ t C ash ier.
DIRECTORS :
Edwin Gould,
Edward R . Thomas.
W . Nelson Cromwell,
Chas E. Levy,

Alex. McDonald,
R . W. Jones, Jr.,
Samuel Thomas,
Hugh Kelly,
W m. H 'J ay lor,
Wm. F. Carleton,
Crawford Fairbanks, Erskine Hewitt.

E sp e cially E q u ip p e d fo r H a n d lin g th e A c co u n ts
of B a n k s a n d B a rk e rs .

SIMON CASADY, Vice-President

HOMER A, MILLER, Cashier.

C T. COLE, JR., Asst. Cashier

MaeDONALD. McCOY &60.,

ganking House of

Gilman, Son
& Company,

171 L a S a lle S t., C h ic a g o .
^ ___^DEALERS I N _ _ ^ -» '

Municipal andCorporationBonds
STREET

RAILWAYS,

__________ 6 2 Cedar Street, New York.
O

INCLUDING ISSUES OF

MUNICIPALITIES,

V ic e -P r e s id e n t s .
fvi

W M . H. TAYLOR,

$4,521,932.75

LIABILITIES:
Capital Stock..........................................
Undivided Profits.......... ........................
Deposits____________________________

P. M. CASADY, President.

£ 1 ,7 0 0 , 0 0 0

N A T IO N A L
BANK

DES MOINES, IOWA.

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

C A P IT A L

WATER,

CAS, ELECTRIC AM) POWER COMPANIES.

W r ite us if you w is h to B U Y or S E L L .

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

Accounts of Banks, Bankers, Financial and Other Cor­
porations, Merchants and Individuals, Received on Favor­
able Terms and Special Attention Paid to Their Care.

C O R R E SP O N D E N C E S O L IC IT E D .

FjQntsers Aatüal Câsaâlty Co.
DES M O IN E S, IO W A .
A - <T\.t—* A. «i__________________
----------- —— ----------------------------------------------------- ---------Director!:
W. E. COFFIN, President Iowa Loan & Trust Co., Des Moines. Iowa.
J . G. ROUNDS, President Citizens National Bank, Des Moines, Iowa.
A. U. QUINT, Manager, Des Moines, Iowa.
B. P. SCOTT, Cashier Citizens National Bank. New Philadelphia, O.
W M. A. GRAHAM, Cashier Citizens Bank, Sidney, Ohio,
F M. RU DD, Cashier L. Rudd & Sons Bank, Bronson, Michigan.
M. D . W AGNER, President Huron County Bank, Harbor Beach, Michigan.
JNO. W . FAXON, Ass’t Cashier First National Bank, Chattanooga, Tenn.
--------------------------------------------------------------------------------------------

^

.
-------- ■

_«^./1A• —A.

Directors:
C. F. SMITH, Cashier First National Bank, McGregor, Texas.
A. E SPAULDING, Cashier Ainsworth Savings Bank, Ainsworth, Iowa.
S. H. BURNHAM, President First National Bank, Lincoln, Nebraska.
F. ELMORE, Bank of Winchester, Kansas.
J. D GERLACH, Cashier First National Bank. Chester, Illinois
L. P. H ILLYE R , Cashier American National Bank, Macon, Ga.
G. R. MOORE, President State Bank, Jackson, Minn.
W m . W ARNOCK, Banker, Almyr, Ontario, Canada.
0 * --O C .

INSURES against burglary and robbery of bank. Absolute security at actual cost. The safe delivery o f money and
securities shipped by registered mail.
Better, safer, cheaper than by express.
Organized and conducted by bankers
Confines its business to banks Correspondence solicited

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Federal Reserve Bank of St. Louis

Tí)e Nortfivestern F>anÍYr.
V olum e

V IL

A Bankers' Journal f o r the Northwest.

•2,00 Ps» Annum.

DES M OINES, IO W A , JULY, 1902.

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

TI)e N o rth w e ste rn g a n g e r Pab. Co.,
DES MOINES, IOW A.
A monthly Bankers’ Journal, devoted to the interests of bankers in the
Northwest.
All communications and news items of local interest to bankers in the
territory are requested.
Entered at Des Moines, Iowa, as second class Matter.
Subscription $2 00 per annum; single copies, 20c.
Advertising rates on application.

The Minnesota Bankers’ Convention held at Cookston, June 24, 25 and 2G. was the most successful yet
held bv the Association.
W e have for sale a national bank in a good north­
eastern Iowa town of between two and three thou­
sand population. Capital $ 100,000, surplus $25,000,
and deposits of over $200,000. Mo interest has been
on deposits and no effort made to increase them. The
bank is clean and its paper guaranteed. It is paying
ten per cent dividends besides increasing the surplus.
The business of the bank can easily be doubled within
a, year. Satisfactory reasons for selling. A majority
of the stock can be bought at 150. Bankers or others
desirous of making such an investment are invited to
write. I f unable or unwilling to handle such an in­
vestment please do not write.
We publish elsewhere in this number a cut of four
Iowa bankers who have been especially before the
public eye during the last few months. Mo introduc­
tion or extended notice is necessary, for they are all
well known to the fraternity in general and to Iowa
bankers in particular.
J.
II. Ing ;wersen,
until
July
1st
cash­
ier of the People’s Trust and Savings Bank of
( 'Union, lias earned a wide reputation as a successf.nl
and progressive banker in the upbuilding of that insti­
tution. H e will take with him to Mew Orleans the
best wishes o f the bankers of the Morthwest for his
continued success.
O. B. Mills, the newly elected cashier of the Peo­
ple’s Trust and Savings of Clinton is one of the


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Federal Reserve Bank of St. Louis

NUM BER

s<
nqle

J.

Oop.es, 20 Ces

best known bankers in the state. H e has successfully
worked himself up from the ranks and has demonstrat­
ed more than ordinary ability as a banker. He will
undoubtedly pick up the work where Mr. Ingwersen
left off and his hosts of friends predict continued large
success for himself and the institution with which he
is connected.
L. F. Potter has been prominent in Iowa politics,
as well as the banking business, for many years. He
believes in practical branch banking— that is, in one
man being largely interested in several banks. When
a banker has acquired several or more banks we be­
lieve it is a good indication of his success, for it takes
money to buy Iowa banks. It will be remembered
Mr. Potter was elected Vice President of the Iowa
Bankers’ Association at their recent convention.
Frank Y. Locke, the newly elected Treasurer of
the Iowa Bankers’ Association, is a good example of
the successful, up-to-date Iowa banker. H e has built
up at Sibley a strong institution and has made him­
self a strong factor in political as well as financial cir­
cles in that section of the state.

In no part of the country has there been a more
remarkable growth of banks during the last five years
than in the Morthwest, and particularly in Iowa.
There is scarcely a -village or hamlet in all the state
but has one or more banks, and we are in almost daily
receipt of letters desiring information of locations for
new banks or opportunities to buy all or part of banks
already established. In new towns the bank is usually
first to open for business. Towns that in other states
would be satisfied with one bar k in the Morthwest
have from one to four, and they are all making money.
Such strenuous competition has developed the bankers
ingenuity and business capacity, so that he makes all
things work together for a profit 1o the bank, and he is
ever watchful for opportunities which with less active
competition would pass unobserved. Mot only in
point of numbers has there been a most remarkable
banking
development,
in
the
Morthwest

July, 1902

TH E NORTHW ESTERN BANKER.

6

S T A T E

B A M

O F

C H IC A G O

C H IC A G O
O F F IC E R S
H. A. HAUGAN, President
JOHN H. DW IGH T, Vice-President
JOHN R. LINDGREN, Cashier
FRANK I. PACKARD Ass’ t Cashier
HENRY S. HENSCHEN, Ass’ t Cashier
SAMUEL E. KNECHT, Secretary

D IR E C T O R S
Thomas Murdoch,
David Braker,
A. P. Johnson,
Calvin Durand,
John H. Dwight,
Moses J. Wentworth,
Theo. Freeman,
H. A. Haugan.
John R. Lindgren.

CASH

CAPITA L,,

RESOU RCES

One Million Dollars
ACTIYE AND RESERVE ACCOUNTS
of State Banks and Bankers are
especially desired by this bank
and will receive the best terms to
be had in Chicago. We respect­
fully solicit YOUR account, S
CORRESPONDENCE

AND

PERSONAL

IN TERVIEW S INVITED.

but
also
in
the
tremendous
growth
of
old established hanks.
Million dollar hanks,
even in small towns, are no longer few enough to excite
special comment. It is safe to say that no section of
the country, not even New England, can make so good
a showing of gain compared to the population as can
the banks of the Northwest.

THE CONSOLIDATION OF CITY BANKS.
BY W. T. FENTON, PRESIDENT CHICAGO CLEARING LOUSE
ASSOCIATION

Many people are apparently disturbed over the pos­
sibility that the marked movement in the consideration
of city hanks may .be spread to the country and finally
result in the establishment in rural districts of a sys­
tem of branch hanking.
Only a slight analysis of the situation is necessary
to enforce the conclusion that such a fear is without
foundation. It is against the temper of the American
people, and it is wholly improbable that the legislation
necessary to legalize branch banking in the United
States can be obtained.
W hy ?
Because, under
branch banking the profits of tlie business are continu­
ally withdrawn- from the rural hanks to the parent in­
stitution in the large city. Now the country bank is
owned by men in its community, by local farmers,
merchants and small capitalists who let their profits
stay, from year to year, in the tills of the institution
earning them.
Then, too, every local shareholder is a friend of the
hank in which lie is interested; he stands for it in the
eyes of his personal friends and brings business to its
counters. Men borrow money from it more freely,
perhaps, because they know its officials and feel that
they can count on a certain latitude of accommodation
that they could not expect were its entire ownership
vested in a parent hank in a distant city. I 11 short,
the personal equation enters into the problem in many
ways, and the country hank is nearer to the people be
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Federal Reserve Bank of St. Louis

STATEMENT, MAY 12, 1902.
Loans and discounts...........
Overdrafts ..
Bonds .
Cash and due from Banks ..
Total ...

$ 7, 522, 531.17
2,647.09
838,250.86
2.46'., 143.19
810,828,573.21

L IA B IL IT IE S

Capital Stock.. ____
... $ 1,000.000.00
Surplus.
............... -.......
100,000.00
146,746.59
Undivided Profits.......................
Dividends unpaid ........ .............
co. 00
D e p osits...................................... 9, 581, 736.62
Total ............................ $10,828,573.21
Deposits, May 12, 1898...............$ 3,658,689.22
Deposits, May 12, 1899
4,627,09643
Deposits, May 12, 1900
5,654,316.56
Deposits, May 12, 1901............... 8,280,521.73
Deposits, May 12, 1902............... 9,581,736.62

c ause it is owned by men who are citizens of the com­
munity.
The growing tendency of all financial interests to
work in harmony will, in the natural evolution of
financial things, establish a community of interests,
and while this country will never have branch banking
by legislative enactment, the smaller towns will find
it to their adv antage to be in close touch with financial
institutions in the larger .centers, and the banking
world will be enlarged and made useful by the affilia­
tion and co-operation of both country and city. There
will be no antagonism and 110 jealousies, and hankers
in every section of the country will come to realize
that the interests of their own people are identical with
those in other sections of the country.
These are three conclusive reasons for the general
consolidation movement among city banks. This is a
day of big deals. Vast enterprises of stupendous pro­
portions are being financed every day and vast sums
of capital are required for these mammoth transac­
tions.
To keep step with the consolidation of commercial
enterprise demands a like concentration on the part of
the financial institutions. The capital at the command
of men who finance these monster undertakings must
he almost unlimited.
Again, the economies effected in the handling of a
large volume of business are as marked in banking
as in manufacturing, commerce or transportation.
And the men who own banks are not blind to this face.
New blood is another element in this concentration
of banking capital. The old-time banker, who has
made a fortone, realizes that his methods are not, per­
haps, wholly in accord with the pushing, driving spirit
of the times; that he cannot give himself up to the
sharp battle of latter day competition to a degree
which will maintain his prestige. The consolidation
offers opportunity for him profitably and with dignity
to- dispose of his holdings and step out of the race.
But conservative opinion points to the fact that
there will continue to he room, in the big city, for the

TH E NORTHW ESTERN BANKER.

July, 1902.

taooocw to<xioce»*^^

7

ùooiceæaiææ^œe5CiCiC8:

« The Corn Exchange National Bank of Chicago. «
A P R IL 3 0 , 1 9 0 2 .
Capital, $3,000,000.00.
Undivided

S u r p lu s , $ 2 ,0 0 0 ,0 0 0 .0 0 .
Deposits, $48,571,048.99.

F
>rofits, $274,852.11.
OFFICERS:

ERN EST A. HAM ILL, President.
CHARLES L. HUTCHINSON, Vice-President.
CHAUNCEY J. BLAIR, Vice-President.
I). A. MOULTON, Vice-President.
JOHN C. N EELY, Secretary
FRANK W. SMITH, Cashier.
B. C. SAMMONS. Assistant Cashier.
J. E D W A R D M AAS5, Asst. Cashier.
DIRECTORS:
CHARLES H W ACKER
E DW ARD B BUTLER,
CLARENCE BUCKINGHAM,
ISAAC G. LOM BARD,
CHARLES H HULBURD,
JOHN H DW IGHT.
EDW IN G. FOREMAN.
EDW ARE A. SHEDD,
JOHN C. W ELLIN G,
CHARLES L. HUTCHINSON,
ERNEST A. HAMILL,
CHAUNCEY J BLAIR,
MARTIN A. RYERSON,
FREDERICK W . CROSB\.

bank of medium size, and that there is a limit to the
passion for consolidation.
SOUTH DAKOTA HANKS.

The Aberdeen News has an interesting article con­
cerning the business of the state banks, which is based
on the call that was made by Public Examiner
LoClaire. It shows these banks to be growing stronger
in every class of the banking business. Concerning
this feature of the financial interests in South Dakota
the News has the following article, a portion of which
is quoted from Public Examiner LeClaire:
Under the call of April 18th last the state and pri­
vate banks made the following showing of liabilities:
Capital stock paid in, $2,503,070.20; surplus and un­
divided profits, $599,682.30; earnings, $674,137.34;
deposits subject to check, $9,185,291.42; certificates
of deposit, $7,107,128.90; rediscounts and bills pay­
able, $333,040.96.
The resources were shown as follow s: Loans and
discounts, $11,770 ,263.66 ; county and municipal war­
rants, $286,418.16; tax certificates, $49,506.21; over­
drafts, $276,890.14; banking houses and fixtures,
$667,426.69; other real estate and property, $628,525.21 ; expenses and taxes paid, $229,235.34 ; money
in banks, $4,900,001.47; cash and cash items,
$1,594,066.24; total, $20,402,351.12.
Commenting on these figures Mr. LeClaire says:
“ While the number of banks has increased from 179
to 212, the capital stock has increased $313,000, an
average o f $9,000 to each bank. That the institutions
are run on an economical basis is shown by the ex­
pense account and we find by examination of the re­
ports that the officers holding the larger shares of
stock are keeping their own salaries down to a living
basis merely, while we further notice that institutions
having branches and employing outside talent are
remunerating such employes in a fairly liberal man­
ner. In this connection I am of the opinion that the
banking business has increased in proportion to other
branches and know of no points lacking proper facili­
ties. That our banking houses are becoming more and


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Federal Reserve Bank of St. Louis

better prepared to meet the demands of home custom­
ers is shown by the gratifying decrease in rediscounts
and .bills payable. With deposits aggregating $16,200,000 we find only $333,000 in 1900, when depos­
its were only $8,500,000. The magnificent gain in de­
posits from $8,600,000 in 1900 to $16,200,000 in ’ 02
is something for which this state may well be proud.
And the further fact that the cash reserve, as shown
by money in banks and cash and cash items, of nearly
$6,500,000, or a small fraction more than 40 per cent
of the deposits, is a further evic.ence that the days of
wild-cat banking are gone, along with the “ bad man
of the frontier.”
Mr. LeClaire confines himself strictly to the state
and private banks, the statistics as to national banks
being entirely in the hands of General George A. Silsby, National Bank Examiner.
PKIVATE HANKS IN IOWA.

The Dcs Moines correspondent of the Marshalltown
Times-Republican gives it out cold as his opinion that
private banks in Iowa are doomed. He claims that as
a result of the heavy filing fees exacted from corpora
tions by the state there is a prospect that laws will be
passed to stop private banking in the state. In his
very interesting discussion of t le subject he says:
Some years ago an effort was made to have a new
law passed that would shut out the private bankers
and compel all bankers to incorporate.
The effort
caused a disagreeable controversy. There were a num­
ber of private bankers in the legislature and they
stirred up the private bankers all over the state so that
one of the most aggressive .lobbies that was
ever sent to the state capital appeared before the legis­
lature and demanded the defea: of the measure. The
argument used was that the private banks were the
safest possible, because the entire property of the
bankers was liable for debts, wiereas the primary pur­
pose of incorporation is to lim t liability and prevent
subjection of all property to attachment for losses.
The subsequent failure of one pirivate banking house
which had been held before the legislature as the saf-

THE

NORTHW ESTERN

BANKER.

July, 1902.

S eaboard National B ank.
N e w Y o rk City.
C A P IT A L ,
S U R P L U S A N D P R O F IT S ,
D E P O S ITS ,
S. C . B A Y N E , P re s id e n t.
J. F . T H O M P S O N , C a s h ie r.
>

$
-

...O F F IC E R S ...

5 0 0 ,0 0 0
1 ,1 0 0 ,0 0 0
2 0 ,0 0 0 ,0 0 0

S. C . N E L S O N V ic e -P re s id e n t.
C . C. T H O M P S O N , A s s ’t. C a s h ie r.

T h is b a n k is e s p e c ia lly w e ll e q u ip p e d fo r h a n d lin g a c c o u n ts of in te rio r b a n k s a n d b a n k e rs .
C o rre s p o n d e n c e s o lic ite d .

est bank in the state, changed the situation somewhat,
but the agitation has not been taken up since. Now
some o f the bankers of the state w7ho are paying heavy
fees for incorporation or for reincorporation and who
claim there is no way a bank can evade taxation and
that they are taxed to the limit, are considering the
advisability of asking the legislature to compel all
bankers to organize. It is estimated that there are not
less than 500 individuals or firms in Iowa that are do­
ing a banking business in some form without incorpor­
ation as banks. The fees and taxes are said to be oner­
ous despite the fact that there lias never been a time
when so many persons were entering the banking
business as at the present.
NEBRASKA GROUP MEETINGS.
GROUP ONE.

The second annual meeting of group one of the Nebraska Bankers’ Association met in Auburn, May 28.
President -T. J. Trenery of Pawnee City called the
meeting to order and Secretary D. H. Wilson of Ne­
braska City called 'the roll of banks, and twenty-six
banks, aside from the local banks, answered the call.
The following program was carried o u t:
“ The County Bank and Its Customers,” Charles
Marshall of Douglas; “ Banking in the Country,” Fritz
Nicklas of Syracuse; “ The Strenuous Banker,” Thos.
Murphy of Dunbar; “ Is Ideal Conservative Banking
Possible, in this Day of Active Competition?” J. It.
Cain of Stella ; “ Community of Interests,” D. C. West
of Nehawka; “ J. Sterling Morton,” J. W. Steinhart
o f Nebraska City; “ Bankers’ Money Orders,” John
R. Pierson of Tecumseh; “ Some Thoughts on the Uni­
form Negotiable Instruments Law,” Edwin Jeary
of El wood; “ Branch Banking in Scotland, and Would
It Be a Good Thing in This Country ?” D. K. Miller
o f Table Rock.
The following officers were elected for the coming
year: J. T. Trenery, Pawnee City; President; Ed­
win Jeary, Elmwood, Vice President : II. D. Wilson,
Nebraska
City,
Secretary-Treasurer;
Charles
Marshall,
Douglas,
was elected
as
member
of
Executive
Committee.
Resolutions
were
passed condemning the Fowler Bill and any
bill authorizing branch banking.


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Federal Reserve Bank of St. Louis

group

s ix .

May 23d about thirty of the sixth group of the State
Bankers’ Association held their annual meeting in
Grand Island. The group includes the counties of
Grant, Thomas, Blaine, Loup, Hooker, Garfield,
Wheeler, McPherson, Logan, Custer, Valley, Greeley,
Sherman, Howard and those parts of Platte, Buffalo
and Hall north of the Platte river. President Bentley
opened the session with an address, after which the
following papers were read: “ Pioneer Banking,”
Hon. F. M. Currie of Sargent; “ Caution to Bankers,”
George D. Carr of Lexington; “ Purpose of Bank
Supervision,” Hon. E. Royce of the State Banking
Board; “ A Few Remarks on Banking,” E. 1). Hamil­
ton of Grand Island; “ Exchange,” J. A. Miller of
Kearney; “ Negotiable Law,” S. K. Warrick of Brok­
en Bow.
The election of officers followed, G. IL
Bell of Grand Island being elected President and S.
K. Warrick of Broken Bow elected Secretary. In the
evening a banquet was served and the following toasts
were given : “ Our Guests,” Mayor Cleary, and re­
sponse by P. Martenson of Ord; “ What are We Here
F or?” by E. F. Folda of Schuyler; “ What I D on’t
Know About Banking,” W. II. Thompson ;-“ The Law­
yer Out of Politics,” C. G. R y a n ; “ The Troubles of
the Ancient Banker,” A. E. Cady, St. P a u l; “ The
Banker in Politics,” R. R. H ortli; “ Moral Influence
of Banking,” Prof. A. M. Hargis. The next annual
meeting will be held at North Platte.
GROUP EIGHT.

' The second annual meeting of the Northwestern
Bankers’ Association, consisting of Group No. 8, was
held in Alliance, May 22. The meeting was called
to order by W. J. Welpton, President of the Associa­
tion. An address of welcome was made by R. M.
Hampton of First National Bank of Alliance, which
was responded to by J. J. McIntosh of Sidney. The
annual address of the President wras a paper filled with
much matter of value to bankers and w7as listened to
with marked attention.
An interesting discussion
followed. State Auditor Weston, who was in the city,
was called for and gave an interesting talk on financial
history and incidentally spoke of the monetary legis­
lation now pending before congress and urged that
united effort be taken in presenting the views of the

TH E N ORTH W ESTERN

July, 1902.

BANKER.

9

Zhe Dee ]VIoinc8 Rational Banh —
ARTHUR REYNOLDS, President,

<

F. M. HUBBEL, Vice-President,
A. J. ZWART, Cashier.

c
5

D

E

S

W

O E S T E S ,
(U . S. D E P O S I T O R Y .)

STATEM E N T OF CONDITION APRIL 30, 1902.
. . . RESOURCES . . .

*

f

Tire Des noines National Ranh
Solicits a Share of Your business
Upon the Basis of Sound and
Progressive Banking, Liberal and
Accurate Treatment.
CORRESPONDENCE SOLICITED.

Loans,
...................................................................
«2,393,41604
U. S. Bonds, (at par) .
.
.
.
.
.
250,00000
Overdrafts,
.
.
.
.
.
.
.
27,388.37
Banking House.
.
.
.
.
.
.
.
e3»54I-29
Other Real Estate,.
.
.
.
.
.
.
.
V93° 00
Stocks and Securities,
.
.
.
.
.
.
4.712 00
Cash, and Due from Banks and U. S. Treasurer,
.
.
886,118.40
Total,
.
........................................................$3,627,106.10
Capital,
.
Surplus,
.
Undivided Profits,
Circulation,
.
Deposits,
.
Total
.

financiers to congress. He favored the Fowler Bill
and said that some such legislation was necessary to
get the country on a sound financial basis. In the
evening the bankers of Alliance entertained the asso­
ciation and friends by giving them a banquet. F. M.
Knight, of the Alliance National, presided. It was
decided to hold the next meeting at Crawford. W. J .
Welpton of Ogallala was re-elected President, 11. M.
Hampton of Alliance, Vice President ; W. B. Mc­
Queen of Hay Springs, Secretary and Treasurer, and
J. J . McIntosh of Sidney a member of the Executive
Committee.
GROUP TW O

“ Among the great forces which have promoted and
maintained patriotism in this country have been the
bankers and the old soldiers.” These were the words
of Chancellor E. Benjamin Andrews to the members
of the Second Group of the State Bankers’ Associa­
tion which met in annual session May 30th at Lin-i
coin.
At first, the speaker said there would appear to be
110 intimate connection between the old soldiers and
the bankers but both the national bank and the old
soldiers were products of the Civil War. And the
great risk that both the soldier and the banker of
the ’ 60s had to assume had kept them in first place in
public esteem ever since. The national banks were a
Civil War production. They furnished funds enough
to carry the war on successfully despite the protesta­
tions of the English and others that it could not be
done. The risk that the banker assumed was just as
great as the one taken by the soldier.
In times when the country lias been free from wars
the bankers have also found opportunity to continue
and establish patriotism. B'v the issue of clearing
house certificates in times of financial trouble great
panics, which would have taken years to recover from,
have been averted.
Further the bankers have stood for the perpetuity
of the republic on its old basis. They have stood on


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Federal Reserve Bank of St. Louis

.

. . . LIA B IL IT IE S . . .

. .
.
.
.
.
$300,000 00
...................................................................60,000 00
.
.
.
.
.
.
.
22,997.60
.
.
.
.
.
.
.
90,000.00
.
.
.
.
.
.
.
3,154,108.50
.
.
.
.
.
.
$3,627,106.10

middle ground between monopoly and communism.
Under present conditions while co-operation is prac­
ticed yet competition is a necessary factor in the bank­
ing business.
“ Asset Currency” was the subject of a paper read
by Edward Iloyse, Secretary i f the State Banking
Board. In it lie discussed the provisions of the Fowler
Bill now being considered by congress. This measure^
said the speaker, was an unfair one inasmuch as it al­
lowed banks to issue circulation equal in amount to
their assets, and gave the depositors' but a second lien
upon funds placed with the bank.
A recess was taken until 1:33 p. m., when the pro­
gram was continued as follow s:
“ A Few of the Difficulties Encountered by
Country Banks— How Shall W e Meet Them ?” — J.
I. Moore, cashier of Farmers’ Bank of Clatonia, Neb.
“ Our State Banking Law” — George L. Meissner,
cashier of State Bank of Liberty, Neb.
Paper, Selected— C. A. Biker, cashier Bank of
Swanton, Neb.
“ Our Bills Receivable” — C. B. Anderson, Vice
President Crete State B'ank, Crete, Neb.
“ Express Money Orders” — F. B. Welpton, cashier
Jefferson County Bank, Daykin, Neb.
“ Negotiable Instruments Law” -—The plans and purpose of trie J. Sterling Morton
Memorial Monument Association, which was pre­
sented by C. H. Gere, was enc.orsed by the meeting,

“ THE BOY ANI> THE BANK.”

One does not often read a more pleasing bit of
autobiography than that in May issue of the Youth’s
Companion, written by the Hon. Lyman J . Gage, ExSecretary of the Treasury,. “ The Boy and the Bank”
is the title of the sketch.
Writing after five years of public service, manag­
ing the finances of the nation in war and in

THE

IO

NORTHW ESTERN

BANKER.

S TA TE B A N K , 1 8 3 2 .

July, 1902.

N A T IO N A L B A N K , 1 8 6 4 .

The Western National Bank
O f P h ila d e lp h ia .
C a p ita l............................. ...................................................... $
4 0 0 ,0 0 0
S u rp lu s ......................................................................................
2 3 9 ,0 0 0
D e p o s its .................................................................................. . 3 ,0 8 8 ,7 8 5
ü. IN. WEYGANDT, President.
Accounts of Banks and Bankers solicited.

CHARLES F. WIGNALL, A s s ’t Cashier.
Correspondence invited.
intrusted to us.

Prompt and careful attention to all matters

peace, Mr. Gage recalls how when a youth he first
The story printed in the Chicago papers a few days
sought employment in a village bank. His ambition ago that the Bankers’ Casualty Company of Des
had been kindled by its richly gilded sign, and the
Moines had been shut out of Minnesota was incorrect.
sight o f men going in and coming out with money in
An effort was made by the Insurance Coinmissionei’s
tlieir hands. He was offered the position of “ messenger and general assistant” at one hundred dollars a to effect that end but it was stopped. The Commis­
year. The title and the glamor of the name “ bank” sioner sent down an Examiner who refused to give
made resistance to the proposal impossible. But his the company, credit for any of its securities on the
dream of working among the heaps o f yellow gold theory that the Minnesota law did not permit their
and glittering silver was soon dissipated. H e says:
recognition, however gilt-edged, and it was admitted
“ I was immediately introduced to the cellar, where,
that they were the best possible.
Manager A. U.
in place of gold and silver, there was found a goodly
stock of anthracite coal, intended for the supply of Quint promptly and quietly slippel up to St. Paul and
two large stoves on the floor above; and it soon be­ saw about it. He called on the state officers and found
came clear that as ‘general assistant’ I should have to out the basis of their contentions, thought he saw that
see that the relations between the coal and the stove they were not treating him with fairness, and called
were kept warmly intimate. . . .
In my capacity on the attorney general. When the case was stated
as ‘messenger’ my duty was to carry to merchants and to the attorney general he recognized the legal phases
dealers notices of notes becoming due at the bank, or of it at once and notified the commissioner of insur­
drafts requiring payment, sent to the bank for collec­ ance and the state officers that the Iowa concern could
beat them in the courts, that he would not defend
tion from other towns and cities.”
Little by little, however, he was trusted with re­ •them against an action brought by Mr. Quint, and that
they better withdraw their objections, which they did.
sponsible duties, and thus began his career as banker
“ Remembering the insignificant beginning,” he says, The Bankers’ Mutual Casula’ty Company* has done)
“ and keeping in mind its educative value I am im­ and is doing a successful and profitable business for
pressed with the reflection that a very humble door itself and its policyholders. It has caused a very large
reduction in rates, and because of this fact competition
may open the way to large opportunities.”
companies have used every effort to drive them out
of business, but all to no purpose. The company has
Young Father— I ’ve just made a big deposit in a saved the bankers large amounts of money by forcing
savings bank in trust for my baby boy. When he is down the rates and they have been of great service
twenty-one I will hand him the bankbook, tell him also in running down and punishing bank criminals,
the amount of the original deposit and let him see how having in six years secured the conviction and sen­
things count up at compound interest.
tence of no less than 'eighty-one. Their latest effort
Old Gentleman1
— W on’t pay. I tried that. My in this direction was the recent sentence to eight years
boy drew the money and got married with it, and now in the penitentiary of Wm. Eitzgerald and Peter
I ’ve got to support him and his wife and eight chil­ Ross. The former is said to be one of the burglars
dren.
who blew open and robbed the Mosler screw door safe
of the Bank of Antioch, Antioch, 111.. These men
plead guilty and were sentenced as habitual criminals
Directors o f the National Bank of the Republic, rather than stand trial under an indictment for at­
Chicago, have declared the regular quarterly dividend tempted burglary of the Anderson-Gunderson Bank­
of 1 1-2 per cent, payable on July 1.
ing Company of Lime Springs, la.


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Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

T. H. ING WERSEN, Vice-President
The Interstate Trust & Banking C o.,
N e w Obleans . L a .

C. B. MILLS, Cashier,
Peoples Trust & Savings Ban
Clinton , I ow a .

PRAN K Y. LOCKE, Treasurer,
Iowa Bankers Association,
Sib l e t , I owa .

L. F. POTTER, Vice-President
Iowa Bankers Association,
H ablan , I owa .

Supplement to T he N obthwestebn Bankeb ,
Des Moines, Iowa, July 10, 1902.


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Federal Reserve Bank of St. Louis

THE

July, 1902.

NORTHW ESTERN

11

BANKER.
>/VAA/SAA/V/W' <

JAMES ROWLAND, President.

LEWIS E. PIERSON, Vice-Pres.

FRANK S. HYATT, Vioe-Pres
ROLLI N P. GRANT, Chshier.

T ü e New Yo r k Na t io n a l E x c h a n g e B a n k ,
5.W- C O R . C H A M B E R S ST. &

------

W EST

-------

O R G A N IZ E D

Deposits, Oct. 1898, $ 1, 600,000

Deposits, April, 1902, $5,400,000

Increase 3 1-2 Years, 237 Per Cent

MINNESOTA NEWS AM) NOTES.

The First National Bank of Little Falls now lias II.
N. Harding for Assistant Cashier.
The First National Bank of Spring Valley has just
boon organized with a capital stock of $50,000.
The First National Bank of Campbell has O. A.
Robertson for Vice President.
A certificate to organize the Morris National Bank
at Morris was issued June 20. Capital, $25,000. D.
J. Stewart, President; F. R. Putnam, Cashier.
An application to convert the State Bank of West­
brook into the First National Bank of Westbrook was
approved June 16. Capital, $25,000.
The First National Bank o f Willmar lias Albert C.
Johnson, Vice President, and A. L. Markhus, Assist­
ant Cashier.
The Peoples’. Bank of Olivia announces the death,
on Mav 10, at Melbourne, Florida, of their President,
P. W. Heins.
The April 30th statement of the First National
Bank of Cookston shows deposits of $579,000, surplus
and profits of $35,000. A ll on a capital of $75,000.
The First National Bank of Preston was issued a
certificate to organize May 26. Capital, $25,000. A.
W. Thompson, President; C. M. Anderson, Cashier.
The State Bank of Goodwin has been incorporat­
ed. Capital, $10,000. Incorporators, John Swenson,
Theodore M. Anthony, J. A. Thomson, William Rohweder and Joseph Ilebal.
A certificate to organize was issued the First Na­
tional Bank of Hanley Falls June 2. Capital, $25,000. G. S. Gilbertson, President; II. M. Hanson,
Cashier.
An application was approved June 16 to convert
the Lincoln County State Bank of Hendricks into the
First National Bank of Hendricks. Capital, $25,000.
Blanks sent to L. M- Lerwick, Hendricks.

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Federal Reserve Bank of St. Louis

BROADW AY

185J.

L o c atio n in th e h e a r t of th e P ro d u c e D is tric t
N e w Y o rk .
E xc ep tio n al a tte n tio n to Bill of L a d in g D ra fts a
fe a tu r e of o u r e q u ip m e n t fo r h a n d lin g
B a n k A c c o u n ts .
C O R R E S P O N D E N C E S O L IC IT E D .

The First National B'ank of Two Harbors was is­
sued a certificate to organize June 14. Capital, $50,000. A. D. Davidson, President; Jas. D. Anderson,
Cashier.
The Princeton National Bank of Princeton was is­
sued a certificate to organize June 2. Capital, $25,000. Henry Lee, Anoka; R. W. Akin, N. H . Han­
son, Geo. B. Ward and Thos. L. Armitage.
Application to convert the Bank o f Ortonville into
the First National Bank of Crtonville was approved
June 7. Capital, $25,000. Blanks sent to the Bank
of Ortonville.
The First National Bank of Plain view was issued
a certificate to organize June 7, with a capital of $25,000. A. L. Ober, President; F. C. Shumway,
Cashier.
Application to organize the Spring Valley National
Bank of Spring Valley was approved May 24. Capi­
tal, $25,000. Everett Jones, Spring V alley; N. T.
Cummings, Julius Krause, J, B. Langum, Ole Clouse.
The First National Bank of Grand Rapids was ap­
proved May 29. Capital, $25,000. A. I). Davidson,
Duluth; A. D. McRae, A. R. Davidson, M. E. Tur­
ner and F. E. Kenaston.
John Robertson died at Kingston, Ontario, aged 61
years. H e was one of the pioneers of Winona county,
and some five years ago became one of the partners
in the Bank of Rushford.
The First National Bank of St. James, with a capi­
tal of $50,000 shows a surplus fund of $20,000. Un­
divided profits of $3,477 and deposits of $299,000. A
most satisfactory showing.
The Merchants Bank of Winona shows by their last
statement deposits of $625,000. They have surplus
and profits of $28,000. The business o f this hank
shows a steady growth.
An application to organise the First National Bank
of Sleepy Eye was approve d June 16, with a capital
of $25,000. C. D. Griffith, W. W. Smith, S. J. Maur-

TH E NORTHW ESTERN

12

BANKER.

July, 1902.

,* T H E NAUM AN C O M P A N Y ^
S u ccesso rs to B E C K , N A U M A N

& W A T T S CO.

M ANU FAC TU RERS OF

B A N ^

F i x t u r e s .

PLANS, SPECIFICATIONS AND ESTIMATES
FURNISHED ON APPLICATION.

We also Make All Kinds of Office and Store
Fixtures, Plate Glass Show Cases, Etc.

Write us, TH E NAUMAN COM PANY, 3 1 5 -3 2 7 Cedar Street, Wateroo, Iowa.

er, C. T. Jaffray and E. M. Prince.
Messrs. Griffith and Smith.

Blanks sent to

The Hanover National Bank of New York and the
First National Bank o f Chicago have been approved
as reserve agents for the First National Bank of Plainview,' and the First National Bank of Chicago for the
Merchants’ National Bank o f St. Cloud.
Application to organize the Bine Earth National
Bank of Bine Earth was approved May 26. Capital,
$25,000. E. B. Soper, Emmetsburg, Iow a; C. A.
Smith, Alex. Anderson, K. F. Woodward, J. A. Com
ings and others.
°

•

A certificate was issued the First National Bank of
Perham May 26. Capital, $25,000. Lewis E. Bopp,
Cashier.
On the same date to the First National
Bank of Preston. Capital, $25,000. A. W. Thomp­
son, President; C. M. Anderson, Cashier.
The First National Bank of Windom makes one of
the best showings of any bank in that state. With a
capital of $50,000 they have profits of $28,000 and
deposits of $437,000, an increase of 300 per cent since
1897.
John II. Bay, President of the Mankota State
Bank, lias donated two lots on a desirable corner in the
business section of the city, Second and Walnut
streets, to the Y oung Men’s Christian Association for
a site for a new association building.
The receiver o f the Savings Bank of St. Paul has
applied to the District Court for permission to pay
the claimants o f the bank a dividend of 5 per cent.
This is the fifth dividend paid, making a total of 45
per cent, or $473,506.
The total proved claims
against the bank is $1,057,948.49, requiring $52,897.42 to pay a 5 per cent dividend.
The Comptroller of the Currency has approved the
application of C. D. Griffith, W. W. Smith and oth­
ers to organize the First National Bank of Sleepy
Eye, with a capital o f $25,000.
The Comp­
troller also authorized the conversion of the Lincoln

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Federal Reserve Bank of St. Louis

County
State
Bank
of Hendrix, into
the
First National Bank of Hendrix, with a capital of
$25,000. H e also authorized the First National Bank
of Two Harbors, Minnesota, to begin business. A. D.
Davidson is President, and James A. Anderson is
Cashier.
Public Examiner Johnson furnished the following
figures on the condition of state banks, as to his called
report for April 30„ 226 banks responding:
R esources................................................ $53,294,816.74
Capital ...................................................
7,079,700.00
Surplus and profits .............................
1,833,796.43
Deposits ................................. ‘ ............. 44,381,320.31
This is a most gratifying showing, especially as it
does not include the savings banks or trust companies,
but simply the, state banks of deposit and discount.
There were eleven savings banks reported, with depos­
its of $15,097,921.78 and $61,625 open accounts.
Last year the same savings hanks reported 55,524 open
accounts and $13,256,000.87, a remarkable increase.
Although housed in a commodious banking house
the Farmers and Merchants State Bank finds it neces­
sary to enlarge its facilities. The changes contemplat­
ed will include an extension of twenty feet in the rear.
The present vault is to he enlarged to afford space to
put in a large number of private depositor’s boxes.
The added space below will he converted into private
rooms for the accommodation of the directors and of­
ficers. The whole building will be fitted with a steam
heating equipment and its interior greatly improved.
The cost of these improvements will be about $2,000.
The officers are Geo. I). McArthur, President; An­
thony Anderson, Vice President, and F. II. Davis,
Cashier. Mr. Davis was formerly connected with the
Lyon County Bank of Rock Rapids, Iowa. O. P. Mil
ler, one of the owners of the Iowa institution, is also
largely interested in the Minnesota hank.
Tlio healthy condition of St. Paul’s finances is dem­
onstrated by the abstract issued by the Comptroller of
the Currency, taken from the returns of national
banks of date April 30. St. Paul occupies an enviable

July, 1902.

¡a

fif
I'M1

THE

NORTHW ESTERN

BANKER.

13

l©Wfl S tate National B ank,
Sioux City, Howa.

is

C A P IT A L ,
D E P O S IT S ,

-

-

-

$ 2 0 0 ,0 0 0 .
$ 2 ,2 5 0 ,0 0 0 .

. . . OFFICERS . . .

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

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

J O H N M Ic H U C H , C a s h ie r.

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

position in the matter of increase o f bank deposits, the
comparison between 1892— one of the biggest and
best business years the country has ever known— and
the current year shows an increase of 70 per cent in
deposits, 1892 being $14,512,518, as against $24,780,000 for the present year. One of the phenomenal in­
stances o f individual growth is that o f the St. Paul
National Bank, which shows a gain over the year 1892
o f 178 per cent, giving total deposits at the time of
issuing the latest statement of $2,425,748.30. This is
by far the best showing made by any of the St. Paul
national banks, and is therefore worthy of especial
comment. Among other national banks an increase is
shown by each, the smallest being 40 per cent. A l­
together St. Paul’s showing is decidedly creditable and
indicative o f an extremely healthy condition of mer­
cantile affairs.
The Chase National Bank of New York and the
Northwestern National Bank, Minneapolis, has been
approved as reserve agent for the First National Bank
o f Eagle Bend, the First National Bank of Chicago
for the First National Bank of Fulda, the Continental
National Bank of Chicago fo r the First National Bank
o f Ilanley Falls, The St. Paul National Bank of St.
Paul for the First National Bank of Slayton, the
First National Bank of North America of Chicago for
the First National Bank o f Argyle, the First National
Bank o f Chicago and the National Bank of The R e­
public o f Chicago for the St. Paul National Bank of
St. Paul, the First National Bank of Chicago for the
First National Bank o f Winnebago City, the Chase
National Bank of New York and the National Bank
of Commerce of Minneapolis for the First National
Bank o f Campbell, the Commercial National Bank of
Chicago for the First National Bank of Pipestone, the
St. Paul National Bank of St. Paul for the First Na­
tional B'ank of Slayton, the Bankers’ National Bank
o f Chicago and the First National Bank of Minne­
apolis for the First National Bank of Perham.

The State Bank o f Chicago has declared the usual
quarterly dividend of 4 1-2 per cent, payable on
July 1.

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Federal Reserve Bank of St. Louis

NEBRASKA NEWS ÜND NOTES.

The town of Seward wants a bank.
Tamora citizens think they need a bank.
E. Queener will open a bank at ITowells.
The First National Bank of Lyons is open for busi­
ness.
The Stromsburg Bank is being refurnished and re­
modelled.
Banker Ayres of Dakota City owns a new Knox
automobile.
The First National Bank of York now has J. R.
Shreck for Vice President.
G. W. Park has taken a position in the Atlas Bank
of Lehigh as Assistant Cashier.
The Jefferson County Bank at Day kin was sold to
the Harbine Bank of Fairbuiy.
C'has. A. Pierce, Cashier of the Tecumseh National
Bank, died at Omaha recently.
The new Center State Bank is open for business.
G. E. Lundgren is Vice President.
Corporate existance to the First National Bank of
Hebron has been extended to June 14, 1922.
The Tecumseh National Bank, Tecumseh, has no
cashier in place of Chas. A. Pierce, deceased.
Corporate exist' nee of the First National Bank of
Falls City has been extended to June 20, 1922.
The First National Bank of Superior has Jacob
Adams, Vice President, in place of II. N. Bradshaw.
The Packers National Bank of South Omaha has
deposits of $1,018,000 and profits and surplus of $47,000, on a capital of $100,000.
The South Omaha National Bank is capitalized at
$200,000. It has surplus and profits of $221,000 and
deposits of $2,753,000.
J. Lewis Packard will shortly sever his connec­
tion with the Bank of Lynch preparatory to opening
a bank in the new town of Monowi.

THE

14

NORTHWESTERN

July, 1902.

BANKER.

. D E P O S IT S O F O V E R $ 4 ,2 0 3 ,9 0 0 .6 0
W IT H A P A ID U P C A P IT A L O F $ 3 0 0 , 0 0 0 . 0 0
A N D T O T A L R E S O U R C E S E X C E E D N G $ 4 , 6 6 8 ,5 5 3 .0 3

C h e P e o p le s C r u s t an d S a v in g s B a n k ,
O U IIN T O IV , I O W A ,
Offers its services to individuals 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.

■

-

O F F IC E R S A N D D IR E C T O R S :
G. E . L a m b ,
C h a s . F. A l d e n ,

L . Lamb,
2

........................................President
C B. M ills ,
Vice-President

T. M. Gobble,

D. Langan,
'

Ray McGrew, Cashier of the State Bank of Raponee, is taking a law course in the State University
at Lincoln.
The exact date of the State Convention was not set,
hut it will be in Omaha on Thursday and Friday of
Ak-Sar-B'en week.
After considerable delay the fixtures for the First
Rational Bank of Sidney arrived and have been
placed in position.
Bankers were greatly shocked to hear of the tragic
death o f John C. David of Lincoln. l i e was Vice
President of the State Bank of Table Rock.
The Exchange Bank of Franklin, which was burned
June 4th, set carpenters to work at once on a tempor­
ary building. They will erect a brick hank building.
W . H. Wallace, the Exeter banker, has started for
an extended recreation trip to British Isles and parts
of Europe. Mr. Wallace expects to be abroad two
months.
Theo Miles has been elected Cashier of the Bank
of Verdigre and has assumed his duties. Mr. Peyton
is still president of the bank, which insures the sound­
est stability.
Ed T. Kearney, lawyer, banker and farmer, of
Jackson, is mentioned as a candidate for the Demo­
cratic nomination for Congress against J. J. M c­
Carthy of Ponca.
Lee Martin has resigned his position as Cashier of
the First Rational Bank of Humphrey, to take effect
immediately, and he has gone to W yoming where he
will go into the sheep business.
The attention of those seeking a location in the
banking business is called to the advantages of which
Exeter offers in this line. Address, Enterprise Print­
ing Company for particulars.
The Corn Rational Bank, Chicago, has been ap­
proved reserve agent for the First Rational Bank of
H um boldt; the Rational Bank of St. Joseph, Mo., for
the Citizens Rational Bank of Tecumseh.

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

........................................Cashier
J. D . L a m b ,

S. W. Gardiner,

A M Ingwersen.

g
|
ï

i
|

R
|

g
^

The annual meeting of the Farmers Bank of Cook
was held recently. Five hundred dollars was added to
surplus fund and a handsome dividend declared. The
institution is in a very prosperous condition.
The bankers of that city have agreed to re-organize
the Lincoln clearing house. The city has no clearing
house since the liquidation and consolidation of banks
made one unnecessary about five years ago.
The application to organize was approved June 11
for the First Rational Bank of Anoka. Capital, $25,000. H. A. Olerich, Butte, B'oyd county, Reb., A.
S. Warner, Elmer E. Boynton, G. W. Short and E. G.
Barnum.
Application to organize the Anoka Rational Bank,
Anoka, was approved June 9. Capital $30,000. W ill
D. Forbes, J. M. Forbes, W ill M. Roberts, Charles
Van Gorder and James Forbes. Blanks sent to Citi­
zens State Bank, Butte, Rebraska.
W ill Searles, the Assistant Cashier of the Atlas
Bank at Religh has made arrangements to take a simi­
lar position in the Pierce County Bank at Pierce,
under Cashier Woods Coner. Searles has had several
years’ experience in the banking business.
Mr. Peter Luchsinger and Miss Anna L. Jossi were
married June 4th. Mr. Luchsinger is the efficient
Cashier of the First Rational Bank of Columbus.
Mr. Luchsinger has purchased the W. W. Rice prop­
erty east of town where the worthy couple will move
as soon as they return home.
Howell’s new bank is to be known as the Llowells
State Bank. It has a paid in capital stock of $15,000
and was ready for business June 1st. At a meeting of
the stockholders the following officers were elected:
F. J. Busch, President; Herman IJolsten, Vice Presi­
dent ; E. Quesner, Cashier.
The Rational Bank of Deshler began business Jan­
uary 10, 1901. W e note from their recent statement
they have deposits of $47,000 and undivided profits
of about $2,000— all on a capital of $10,000— sub­
stantial evidence that the bank is well managed and

THE

July, 1902

NORTHWESTERN

Northwestern National Bank,
Sioux

City,

U. S. DEPOSITORY.

Iowa.

—

Capital and Surplus,
Deposits,

BANKER.

C it iz e n s

$122 ,000.00
- 888,000.00

National
A bel A n derson ,

President.

J o h n S c o t t ,,

C. E . H o f l u n d , Vice Prest.

Bank«««

J r ., Cashier.

SPECIAL ATTENTION GIVEN TO SIOUX CITY COLLECTIONS.

Davenport, Iowa.

15

J\ General Banking Business
transacted!. j*
Capital, $300,000,
Surplus,
100,000

Officers!
F. H. Griggs. Pres.
Jens Lorenzen,
Vice-Pres.
Aug. A. Balluff,
F. C. Kroeger,
Asst. Cashier.

We Solicit Accounts of Individuals, Firms and Banks.

that they have the confidence of the community.
A. B'usli is Cashier.

Roy

The Comptroller of the Currency authorized the
Gothenburg National Bank, with a capital stock of
$25,000, to commence business June 1, 1902. Messrs.
A. U. Dann, President, and T. B. Garrison, Jr., Cash­
ier, opened their bank J une 2 for business. The Pres­
ident and Cashier of the new bank assure us that the
new institution has ample means and capital.
The Center State Bank is a new institution recent­
ly established at Center with D. T. Gilman, President;
G. E. Lundgren, Vice President, and B. F. Stetson
Cashier. Mr. Stetson will have active management of
the bank. Recently all interests and good will of the
Plum Valley Bank were purchased and consolidated
with the Center State B'ank.
Lincoln, June 18.— The Republican State Conven­
tion at 10 o’clock tonight nominated J. II. Mickey
of Polk county for Governor. The choice was made
upon the thirteenth ballot, after the convention had
voted for over four hours. The candidate is a banker
and farmer living in Osceola.
l i e is a Civil War
veteran and has a wide acquaintance throughout the
state.
The individual deposits in the Nebraska national
banks outside of Omaha and Lincoln have increased
from $24,071,181 to $25,126,280 since the last re­
ports were received at the Washington headquarters.
With this increased showing in the spring of the year
when, if any time, there is likely to be a reduction, it
may be expected that during the fall months, with a
good crop to dispose of, the increase will be a mighty
one.
The Executive Committee of the Nebraska Bankers
Association has expressed itself in favor of the nego­
tiable instruments law, which has received the ap­
proval of the National Bankers’ Association
and of the American Bar Association.
This
law has been adopted in nineteen states, three states
having adopted it last year. Its intention is to secure
uniform laws throughout the United States on the

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Federal Reserve Bank of St. Louis

subject of negotiable instruments and to make collec­
tions easier and attorneys’ fees smaller.
The directors of the Citizens State Bank of W ater-.
loo held a meeting recently and declared a 10 per
cent dividend. H alf goes to she reserve fund. The
other half will be paid to the stockholders at the ex­
piration of bank’s first year, Jady 7. This is certainly a
good showing for a “ yearling-” and not only speaks
well for the management but for the community. And
this has been accomplished without encroaching upon
the business of neighboring banks, which have shown
a steady growth in volume of business aaad profits.
Omaha banks are all right.
The gain shown in
loans and discouaits during the last year is very flatterhag, more than two million dollars, of which half has
been since last February. The total resources have kept
pace with this, showing a gain of two and a half anillions in the year, the deposits running almost three
millions heavier. The total of deposits at present is
$26,844,580, divided as follows:
First Natioiaal,
$8,577,0425 Omaha Natioaaal, $7,525,484; United
States, $3,611,343 ; Merchants, $3,187,145; Conmaercial, $1,702,023; Nebraska, $1,420,899; Union,
$820,691.
The Bank of Commerce will soon open up at Lin­
coln. M. Weil is President and M. I. Aitkeaa, Manager.
This will make sixth bank iaa Lincoln. The new bank
will have a capital of $50,000 and will be a state bank.
Carl Weil will be Assistant Cashier, a position which
his training of two and a half years with the Ameri­
can Savings B'ank lias peculiarly fitted him. A general
commercial business, with a savings department added,
will be transacted. A metropolitan system of bank­
ing, with the pass book eliminated in the savings de­
partment and certificates of deposit substituted, will be
inaugurated. There will be handsome fixtures pro­
vided.
An important decision beiring upon the possibilities
of bank officials lias been given by the Supreme
Court in the case of John T. Jones, formerly City
Treasurer of Lincoln, against the First National
Bank. It is held that as a general rule acts done by

i6

THE

NORTHWESTERN

BANKER.

July, 1902-

an officer of a bank away from its place of business,
and not authorized or ratified, are not binding upon it,
nor do the acts o f a bank official, outside the usual
scope of his authority, in a matter to which it is no
party, and o f which it is not chargeable with notice,
bind the bank. Further it is declared that a bank is
not chargeable with notice o f the fraudulent act of
its employe, outside the scope of his authority, and in
furtherance o f his own personal designs, solely be­
cause he is an employe.

branch bank feature of the Fowler Currency and
B'anking Bill now pending before Congress, and we
earnestly urge the Senators and Members of Congress
to uncompromisingly oppose the same.
“ Yours very truly,
“ II. R. Gould, Secretary.”

The First National Bank of Omaha has been ap­
proved as reserve agent for the First National Bank
of Carroll, the Tootle-Lemon National Bank, St.
Joseph, Mo., for the City National Bank of York.
The First National B'ank of Lincoln for the First
National Bank o f Iloldrege, the Philadelphia Na­
tional Bank of Philadelphia, for the South Omaha
National Bank of South Omaha. The Chase National
Bank o f New York and the Omaha National Bank of
Omaha for the Gothenburg National Bank of Gothenberg.
The Tootle-Lemon National Bank, St.
Joseph, Mo., for the First National Bank of Hastings.
The National B'ank of Commerce, St. Louis, Mo., for
the City National Bank of Ifincoln, and the Mer­
chants National Bank of Omaha. The Tootle-Lemon
National Bank, St. Joseph, Mo., for the First Na­
tional Bank o f Pawnee City and the Tecumseh Na­
tional Bank o f Tecumseh.

The Norwich, N. D., State Bank will soon be in
operation.

It is interesting to learn that the bankers of the
great West and South have become fully awakened
to some o f the most infamous features of what is
known as the Fowler Bill, recently reported by the
Committee on Banking and Currency and now pend­
ing on the House calendar. Congressman Robinson
received the following communication regarding this
measure which explains itself:
Nebraska Bankers Association.
Omaha, May 24, 1902. ,
Dear S ir: At a meeting of the Executive Council
of this Association on the 31st instant, the following
resolution was adopted, and I was requested to send
you a co p y :
“ Resolved, B y the Executive Committee of the Ne­
braska Bankers Association, that we are opposed to the


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Federal Reserve Bank of St. Louis

DAKOTA NEWS AND NOILS.

“ The First National Bank of White has J. M. Far­
rell for Vice President.
The Redfield National Bank, Redfield, now has E.
B. Soper for its President.
Corporate existence of the First National B'ank of
Huron has been extened to May 19, 1922.
A
new banking institution to be known
as the Marshall County Bank, will open for business
soon at Britton, S. D.
A certificate to organize was issued June 9 to the
First National Bank of White. Capital, $25,000.
W. II. White, President; W. A. Burgess, Cashier.
Application to convert the State Bank of Toronto
into the First National Bank or Toronto was approved
June 5. Capital, $25,000. Blanks sent to J. -F.
Fries, Toronto.
Application to convert the Farmers National Bank
of Clear Lake in the First National Bank o f Clear
Lake, was approved May 19.
Capital, $25,000.
sent to J. A. Thornton, Clear Lake.
The First National Bank of Fairmount now has
Wm. Cross, Vice-President; W. N. Watson, Cashier;
F. E. Whitaker, Assistant Cashier.
The Bismarck Tribune positively announces that
Banker Sarles of Hillsboro will not be a candidate for
Governor, which ought to settle it.
The Citizens State Bank of Andover has been in­
corporated with a capital of $15,000. Incorporators,
N. L. Finch, Fred S. Pew, Jennie M. Pew.

July, 1902.

THE

NORTHWESTERN

BANKER.

17

A Practical Protection
Against Burglary and Robbery
is welcomed by every conservative and progressive banker It is a fact that electricity properly applied in the protec­
tion of vaults and safes is recognized as being the most
practical, effecient and economical protection in use at
the present time.

We manufacture the only open circuit,

Automatic Double Electrical System, and the installation
of one of these systems in your bank will convince you
that it is all we claim for it.

All the working parts being

enclosed in the vault, there is no chance for the burglar
to defeat same and the very slightest attempt on his or
any one else’s part to tamper with the vault or protective
shields causes a clangor tha; will frighten any burglar
to cover.

We furnish a posisive written guarantee of a

greater amount than the price of the system that it can­
not be defeated.

If you have not received our booklet,

giving detailed description o 1! the system, we will gladly
mail one on request.

We invite all bankers to call at our

offices, where we have a system in practical operation
and will be glad to demonstrate its uses.

A m e r ic a n B a n k P ro te c tio n C o.,
Second floor, Windom Building, ¡21 Second Avenue, South,

M in n e a p o lis , M in n .
A certificate to organize was issued the First Na­
tional B'ank of Lorimore June 2. Capital, $25,000.
F. E. Kenaston, President; O. A. Hazen, Cashier.
II. C. Meier, who will act as cashier of the new
banking institution come to Redfield, S. D., from
Fenton, Iowa, where he has been holding a similar
position.
Application to organize the First National Bank
of Forman was approved May 27. Capital, $25,000.
J. L. Mitchell, Austin, Minn., F. E. Gleason, F. TI.
Mitchell, J. TI. Dyste.
The Chase National Bank of New York and the
Northwestern National Bank o f Minneapolis have
been approved as reserve agents for the First National
Bank of Courtenay.
A certificate to organize was issued June 21 to the
First National Bank of Leeds. Capital, $25,000. E.
B. Page, President; S. J. Atkins, Cashier. It was
formerly the Bank of Leeds.
The State Bank of Goodwin, Goodwin, with a capi­
tal o f $10,000 has been incorporated. Incorporators,
John Swenson, Theodore M. Anthony, J. A. Tlironson, Wm. Rohweder, Joseph Hebal.
Application to organize the First National Bank,
o f Forest City was approved May 27. Capital, $25,000.
J. B. Hughes, Gettysburg, J. F. Whitlock,
John E. Diamond, John Campbell, H. II. Dennis.


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Federal Reserve Bank of St. Louis

An application was also approved May 28 to organ­
ize the First National Bank or Bonesteel. Capital,
$25,000. F. W. Bathman. Bonesteel, . D. Keller,
George II. Bathman, Nels Anderson, D. M. Inman.
The Chicago National Bank of Chicago has
been
approved
as
reservee
agent
for
the
First National Bank of Huron.
The Chase
National Bank, New York, for the First National
Bank of White, and the First National Bank, Chi­
cago, for the First National Bank of Canton.
Huron— It is twenty yeais since the First National
Bank of Huron, S. D., opened its doors for business,
and the event was celebrated by sending each patron
of the bank a handsome souvenir, and a reception to
ladies in the bank parlors.
Wesley Styles, for years connected with the Union
National Bank in Grand Forks, is now the Cashier of
the State Bank of Maddock. l ie is already interested
in a hardware and implement company recently in­
corporated there with a capital of $10,000.
II. C. Delaney of Napoleon, N. I)., reports the sale
of his bank and general merchandise business there
to Fargo and Bismarck people, who took possession
June 15. Mr. Delaney wiL devote himself to his cat­
tle ranch, on which he has 3,000 headof cattle.
Cashier Jacobson of the North Dakota Bank at
Churcfis Ferry, N. I)., besides doing a land office busi-

THE

i8

NORTHWESTERN

BANKER.

D EP O SITS,

THE

At the Comptroller's Calls :

First National Bank
of Minneapolis, Minn.

1897
March 9,
1 ,9 7 5 ,2 2 5 .5 2

OFFICERS.

«tfc

Capital,

John Martin , ................................President.

S I ,0 0 0 ,0 0 0

F. M. Prince........................Vice President.
C. T. Jaffray ............................... Cashier.

Surplus and Profits,

July, 1902.

D. Mackerchar , ....................... Ass’ t Cash.
E rnest C. Brown, .................... Ass’ t Cash.

1898
February 18,
3 .1 3 8 , 6 8 9 . 1 7
1899
February 4,
4,38 4,6 32 .62
1900
February 13,
4 ,5 3 8 , 6 3 6 , 4 1
1901
February 5,

, ,

$ 2 8 5 ,0 0 0

6 124 817.19

NEW BUS1NES INVITED.

10.625.484.96

ness at liis bank is tbe publisher of Churchs Ferry’s
newspaper, the Sun. l ie is also extensively engaged
in the lumber business. Incidentally he is one of the
political leaders out there.
The Kenmare, FT. D., State Bank desires bids for
the furnishing of material and building of their bank­
ing house at Kenmare, same to be a stone and brick
building. Plans and specifications can be had oh re­
quest or seen at the bank at Kenmare. J. FT. Fox,
President.
The abstract of the reports of the banks of North
Dakota show that the total resources amounted to
$12,937,379, loans and discounts to $7,882,350 and
cash reserve to $703,975, of which $203,785 was in
gold. Individual deposits aggregateed $8,952,360,
and average reserve held was 26.26 per cent.'
The two National Banks and the State Bank of
Aberdeen, S. D., have all bought the “ new-fangled,
mob-proof, burglar-proof safes” which are not to be
put in vaults, but will be kept standing in the front
windows of the banks, where they will be in full view
from the sidewalks at all times of the day and night.
This being considered a safer method of keeping
money than in dark vaults in the back parts of build­
ings.
The First FTational Bank of Lead, S. D., shows
greater business than any other in that part of South
Dakota and probably greater than any other in the
state. According to the monthly report just pub­
lished its business amounts to $1,039,083.38. De­
posits in the bank reach the sum of $929,645.50. The
capital stock paid in is $50,000. This report shows a
material increase over the business represented by
the report last preceding, which fell short of the mil­
lion mark.
The recent State Bank Association of South Dakota
closed its annual meeting at Huron with a grand ban­
quet, tendered by the First FTational and Standard
Savings Banks o f Huron. The sessions throughout
were largely attended and o f interest to the bankers,
capitalists and financiers. The address of welcome
was given by Mayor Cleaver, to which E. Lt Abell,


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Federal Reserve Bank of St. Louis

1902
April 30,

President of the State Bank of Bridgewater, re­
sponded. An important document was the address
of President Cummins of the First National Bank of
Pierre, in which he gave an outline of the increase,
in the banking and commercial interests of the state
and development of South Dakota agricultural and
mineral resources. These officers were elected: Presi­
dent, L. E. Lord of Parker; Vice President, George
Schneider of Rapid C ity ; Chairman of the Executice
Council, W. A. Mackay of Madison; Treasurer, C. E.
M cKinney of Sioux Falls; Secretary, E. L. Abell of
Bridgewater.
Stockholders of the new Central Trust Company
of Illinois, Chicago, elected the directors, who elected
the officers of the institution. The official list is as
follows: President, Charles G. Dawes; Eirst Vice
President, W. Irving Osborne; Second Vice Presi­
dent, A. Uhrlaub; Trust Officer and Secretary, Law­
rence O. M urray; Cashier, William R. Dawes; Assist­
ant Cashier, Charles T. Wegner. Mr. Dawes, the
promoter of the bank and its President, is widely
known, of course, as the former Comptroller of the
Currency. Mr. Osborne is attorney for several promi­
nent local corporations. Mr. Uhrlaub is at present
Assistant Cashier of the Chicago FTational Bank, and
Mr. Murray, who was formerly Deputy Comptroller
of the Currency, is now Trust Officer for the Trust
Company of America in New York.
William R.
Dawes has been Cashier of the Chicago postoffice for
three years, and was formerly a bank cashier. Mr.
Wegner was Paying Teller in the Metropolitan Na­
tional for eleven years.

The Seventh National Bank of New York City
is having a very rapid growth. Its deposits have al­
ready reached over $6,000,000 and it has over $100,000 of porfits. This is a splendid showing consider­
ing the short time the bank has been doing business
under the present management. Cashier Jones and
associates may well feel highly gratified at the prog­
ress the Seventh National has made.

THE

July, 1902.

NORTHWESTERN

BANKER.

IÇ

Kapital,
WM. H. B R IN TN ALL,
President.
JOHN BROWN,
Vice-President.

THE DROVERS NATIONAL BANK,
UNION STOCK YARDS, CHICAGO.

$ 250, 000. 00.

#

Surplus
AND

WM. A. TILDEN ,
Cashier.

T o Han Us a n d B a n k e r s H a v in g M ore or Hess H ive S to c k B u s in e s s ,

Profits,

th is B a n k O ffers E x c e p tio n a l A d v a n t a g e s , and S o lic it s C o rre sp o n d e n c e

$ 2$9, 000.00.

a s to T e r m s a n d F a c ilit ie s .

IOWA NEWS AM) NOIES.

Every Iowa bank not now a member o f the State
Association should remit jive dollars to the treasurer, F.
Y. Locke , o f Sibley, and “ get in .” A s a matter o f
profit and loss in money you cant afford to stay out.

A new bank has been opened at Pisgah.
The Anthon State Bank now shows deposits of
$81,000.
Banker W ilcox of Griswold is going to start a
branch bank at Grant.
The St. Anthony Savings Bank, with a capital of
$ 10,000, has incorporated.
We understand that Berlin is going to have a bank,
a gentleman from Reinbeck to run it.
A certificate was issued June 14 to the First Na­
tional Bank of Pocahontas, Iowa.
E. B. Soper and other capitalists of Emmetsburg
are opening a bank at Blue Earth City, Minn.
The Bank of Elkport has had an expert there re.cently to open their burglar proof safe.
The First National Bank of Crestón has S. W.
Richardson for President in place of H. S. Clarke.
The First National and Security Banks at Manilla
have consolidated by the latter selling to the former.
There are some extensive improvements going 011
at present in the Page County Bank building at Clarinda.
The Citizens’ National Bank of Davenport gives a
quarterly banquet or other entertainment to its em­
ployes.
L. R. Woods and F. P. Woods have incorporated
their bank at Wallingford, the capital stock being
$15,000.
M. R. Faber, who for four years acted as book­
keeper and cashier of the Bank of Remsen, has re­
signed.
The Walcott Bank has reached the height of having
$506,000 on deposit. This speaks well for Cashier
Stauffer.

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Federal Reserve Bank of St. Louis

The State Auditor has iesued a charter for the
Farmers’ Savings Bank of Milford, with a capital of
$ 10, 000.

The Iowa Savings Bank c f Estherville has just
placed a new Burrough’s adding machine in its bank­
ing house. •
The Doud-Leando Savings Bank of Iloud, with a
capital of $10,000, has been granted a charter by the
Auditor of State.
The Maple Valley Savings Bank, with a capital of
$25,000, has $25,000 surplus, $7,000 undivided prof­
its and deposits of $179,000.
Frank Champiln, President of the City Bank of
Boone, has just given $500 1o purchase books for the
Ericson library in that city.
The marriage of J. T. Ec son, Assistant Cashier of
the Schaller State Bank, and Miss Ada Whited oc­
curred at Rockwell City June 4th.
The Commercial National Bank of Essex recently
received 200 small savings banks for use of patrons
wishing to start savings accounts.
George J. Dix, President of the Bank of Monroe,
died June 11. H e was 68 years of age, and for thirtyfive years was one of Monroe’s progressive citizens.
It is reported on good authority that a banking in­
stitution is about to be esta dished in Elkhorn. The
promoters are John K. Peterson and S. C. Peterson.
The First National Bank of New York and the
First National Bank of Chicago have been made re­
serve agents for the Anamosa National Bank of Anamosa.
The new bank at Pisgals opened May 30,
and has been doing a rushing business. Mr. Hutchson, the Cashier, seems highly pleased with the pros­
pects.
The First National Bank of Boone has been desig­
nated as a government depository, and will soon re­
ceive from $50,000 to $100,000 of government
money.
The City National Bank of Clinton is now a deposi­
tory for United States funds. Heretofore the govern­
ment business has been dene through the depository
in Chicago.

THE

20

t »e

NORTHW ESTERN

BANKER.

C o n t in e n t a l N a t io n a l B a n k

Accounts of Banks
and Bankers___

Solicited.........

July, 1.9 0 2 .

of Chicago.

STATEM E N T OF CONDITION A T CLOSE OF BUSINESS,
APRIL, 30,

T

_

1902.

. . . . Resources___

Loans and Discounts,
Other Stocks and Bonds,
.
U. S. Bonds to secure Circulation, .
.
. ’ ,
O v e r d r a f t s , ...............................
Real Estate, .
,
.
.
.
Due from Banks and U. S. Treasurer,
.......................................
Cash,
.
T o t a l , ......................................................

125,328,237.88
1.037.017.25 «26,365,255.13
50,000 00
.
.
.
16.845.78
•
•
■
35,305.29
$7,805,694.59
9.244.281.26 i7,049,975.85

• $43,517,382.05

----- Liabilities___
. . Officers. .
John C. Black , President.
George M. R eynolds, Vice-President.

Capital Stock Paid i n , ...............................
Surplus Fund,
.
.
,
. . . .
Undivided Profits, .
.
.
Circulation, .
. ■
Deposits............................................
T o t a l , ...............................................

I ra P. Bowen , Assistant Cashier.
Benjamin S. Mayer , Assistant Cashier.

A general foreign exchange business transacted.
issued, available in-all parts of the world.

Washta is to have another hank. The institution
will he known as the “ Farmers’ Bank” and the officers
are: F. S. Barnes of Marcus, President; J. O. Barnes
o f Matlock, Vice President; M. McGreggor of Matlock, Cashier.
The First National Bank of Essex has $79,327 of
deposits and $75,556 o f loans. The Commarcial Na­
tional Bank of the same town has $211,013 of deposits
and $168,333 of loans.
State Bank Examiner Wheel an, of Red Oak, is a
candidate for the nomination of Clerk of the Supreme
. Court on the republican ticket, and the chances for his
success are very favorable.
Application to organize the First National Bank of
Pocahontas was approved May 20. Capital, $25,000.
1V. S. McEwen, Pocahontas, James Bruce, L. C.
Thornton, H. J. Murray, W. 10. McEwen.
M. A. Buchan, Cashier o f the Bank of Dike, will be
a candidate for supreme court clerk. He has had ex­
perience in. this line of work, having been clerk of the
court o f Grundy county for two terms. His term ex­
pired on January 1, 1901.
Ed Thomerson bid in the assets o f the defunct LeMars National Bank at -the sale for $2,150. There
were only two bidders and the highest price offered
at private sale was $1,500. The paper purchased on
the face represents nearly $90,000.
1lie old First National Bank building in R olfe has
been moved into the street and work of building a
modern structure has been begun. It will be brick
and stone and when completed will be a handsome
edifice.
Col. Ormsby is now out o f the banking business at
Emmetsburg, after thirty years. W. E. G. Saunders
succeeds him as president of the Farmers’ Savings
Bank. The colonel will still make his home at E ,....
metsburg.
.7 Charles Price and Joseph Hanson have bought the
Craig farm, four miles west of Macedonia, paying

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Federal Reserve Bank of St. Louis

$ 3,000,000.00
750,000 00
279,817.40
50,000.00

39,43y,564.6S

$43.5i 7,382.o5
Travelers’ circular letters of credit

$ 10,200 for the quarter section. The farm adjoins
Mr. Price’s home farm. Mr. Hanson is the Cashier
of the new bank at Carson.
The Commercial National Bank of Council Bluffs
on July 15, 1901, had deposits of $142,742. On
April 30, 1902, they had $481,207. This bank is hav­
ing a marvelous growth for a new bank. Keep your
eye on the Commercial National of Council Bluffs.
Seymour is to have a new banking house. The in­
stitution was organized in Seymour recently and the
capital stock, $25,000, was subscribed in short order.
The new bank will be known as the Citizens’ State
Bank and is incorporated under the laws of Iowa.
A. B. Endicott is cashier in the National Bank of
Brighton in place of Frank B. Sage. In the Peoples’
National Bank of Independence, Thomas Edwards,
President, in place of S. J. Fisher, deceased; Thomas
Scarcliff, Vice President, in place of Thomas Ed­
wards.
Frank R. Sage, who has been Cashier of the Na­
tional Bank of Brighton since the starting of that in­
stitution, has gone to Washington, where he takes the
position of cashier in the Citizens’ Savings Bank. A.
B. Endicott has taken Mr. Sage’s place in the bank
at Brighton.
Corporate existence of the First National Bank- of
Iowa City has been extended to June 12, 1922. To
the First National Bank of Lyons, extended to June
7, 1922, and to the First National Bank of LeMars to
May 23, 1922. To the First National Bank of Villisca until May 29, 1922.
. The directors of the Iowa City State Bank at their
meeting recently decided to pass the July dividend,
carrying $2,500 to the surplus fund, making it $14,500, and also leaving $1,500 to the undivided profits
account, thus making the actual surplus of the bank
twenty-five per cent of its capital stock.
We are informed that the Shenandoah National
Bank has added a savings department. They will now
receive deposits from one dollar up and pay 4 per cent

July, 1902.

THE

NORTHWESTERN

5I70

With long established connections in all the
leading cities of the world, able to give as
nea’rly perfect service as is possible, the

N A T IO N A L

BANK OF THE REPUBLIC

fÎatiorçal
J. R. Re e d ...............................................President
L ewis H ammer .........................V ice-P resident
F. C. L ougee
.................'.2nd V ice-P resident
C. E. Price ......................... : .............
Cashier
Charles E . W alters................. ..A sst. Cashier

B a rp ^

3100,000

C a p it a l,

O F F IC E R S .

COMMENCED BUSINESS JUNE 15, 1901.

JOHN A . LYNCH, P r e s i d e n t .
W . T. FENTON, V ic e -P r e s i d e n t .
J. H. CAMERON, C a s h i e r .
r . m . M cK i n n e y , a s s t , c a s h i e r .
R. L. CRAMPTON, A sst . C a s h i e r .
W. L DODGE, 2d A s s t . C a s h i e r .
B O A R D O F D IR E C T O R S .
Rollin A. Keyes, Franklin MacVeagh & Co.
J. V. Farwell, Jr., J. V. Farwell & Co.
Robert Mather, Vice-President Chicago, Rock Island & Pacific
railroad.
Charles R. Crane, Vice-President Crane company.
Herman B. Butler, Joseph T. Ryerson & Son.
H. W. Heinrichs, President Bradley & Metcalf company,
Milwaukee.
[ohn R. Morron, Vice-President Diamond Glue company.
F. E. Vogel, Vice-President G. H. Hammond company.
C. H. Conover, Hibbard, Spencer, Bartlett & Co.
Frank O. Lowden, Lowden, Estabrook & Davis.
Louis E . Swift, Swift & Co.
Henry Siegel, President Siegel, Cooper & Co.
John A. Lynch, President.
J. B. Greenhut, capitalist, Peoria.
E. B. Strong of the late firm of Foss, Strong & Co.
W . T . Fenton, Vice-President.

2Î

C O U N C IL B L U F F S
=
IO W A =

Qommerçial

O F C H IC A G O ,

confidently solicits a larger share of patronage,
believing that its facilities for the handling of
commercial accounts are as good as the best.

BANKER,

¿V .
/c ?
&

r ,<t>

*r

y
July 15,’(II,
$ 14 2,742.09

<
1

S e p t. 3 0 ,

X ,

$ 2 12 , 3 9 0 . 9 I
?

D e c é m b e " I O,

.

$ 2 4 5 , 4 1 6 ,5 5

F ebruary 2 5 ,
V&
<

V

O

\

$ 378, 864.89
A p ril 3 0 ,

$ 4 8 1 ,

%

II

%

interest on all sums so deposited and remaining for a
period of three months or more, interest to commence
on the same day that the deposit is made.

store tho hooks and papers belonging to the bank and
the small balance of $100 was divided between the re­
ceiver and his attorney.

Sioux City Tribune'. Waterloo having done some
rejoicing because one of its banks has passed the mil­
lion dollar point in deposits, Fort Dodge replies that
one o f its banks not long ago got nicely past the twomillion point, and that a million dollar concern in
Fort Dodge looks a good deal like 30 cents.

W. E. Cody, receiver for the Home Savings Bank
of Sioux, City, has filed an application in the district
court for an order to sell twenty-seven lots belonging
to the assets of the bank situated in Sioux City. The
receiver asserts that the property is heavily incum­
bered with liens, etc., and states it will he for the best
interests of all concerned for the offer to be accepted.

A new hank will be started at Remsen by M. R.
Faber and Ilenry Scliaafs. The bank will be called
the Farmers & Merchants Bank and will have a capi­
tal o f $10,000. Henry Schaafs will he President and
M. R. Faber Cashier and Manager. Mr. Faber was
for four years Cashier of the Bank o f Hemsen.
One o f the best hanks in the State of*Iowa is the
First National Bank o f Perry. The deposits are $477,000, are growing steadily and the bank’s earning
capacity is large. It has a capital of $50,000, surplus
of $10,000 and profits o f $7,000. J. M. Woodworth,
well known to most Iowa bankers, is Cashier of the
institution.
The final report of the receiver of the old Cass
County Bank has been received and accepted, the re
ceiver discharged and his bond exonerated. The re­
ceiver is allowed to keep the old iron safe in which to


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Federal Reserve Bank of St. Louis

The First National Bank of M ilford lias added a
savings department to their bank. This new bank, to
be known as the Farmers’ Savings Bank, with a paidup capital of $10,000, will be run in the same room as
the First National Bank, under the same management
and with the same officers. Their purpose will be to
make a specialty of the farm loan branch of the busi­
ness.
J. F. Johnson’s Bank at St. Charles completed its
first year June 3rd, with the management under the
President, J. F. Johnston; Vice President, W. A.
Barnes, and Cashier, Henry Hayden. N o change in
the management will take place and its business
growth has been most satisfactory. The deposits ap­
proximate $45,000 and its stability and permanency
are assured.

* THE

22

•JINO. W . BALLARD, President

NORTHWESTERN

July, 1902.

BANKER.

FRED B. SHARON, Vice-President

S. L,. ELY, Cashier £

THE UNION SAVINGS BANK
DAVENPORT,

C A P IT A L , $ 1 0 0 ,0 0 0

I OWA

P R O F IT S , $ 1 9 ,0 0 0

A CENERAL BANKING BUSINESS TRANSACTED

D E P O S IT S , $ 1 ,1 8 4 ,5 4 3
COMMERCIAL
AND SAVINCS
_______

3 1-2 PER C E N T IN T E R E S T P A ID ON D E P O S IT S

Des Moines is to have another bank.
It will be
known as the Security Trust and Savings Bank.
It
will be located in the offices of the Security Loan and
Trust Company and will do a general savings bank
business. Capital stock of the new company is $50,000, fully paid up. The officers: President, 1). G.
Edmundson; Vice President, J. H. Windsor; Cashier,
E. G. Zellhoefer.
James Murray, President of the Rockford Bank­
ing Company, died recently, after a long illness. A
complication of ailments was the cause of his death.
Last winter he spent in California, but he was not
helped and coming home lie went to bed and has not
since been able to be Out. ILe leaves no children, but
an invalid wife. His fortune is estimated at about
$ 100,000, all o f which he left in good shape.
The old Exchange Bank of Collins, established in
1888 by the late J. B. Hanson, has been converted
into the Exchange State Bank. The stockholders met
and elected the following officers:
S. S. Hanson,
resident; F. A. Leonard, Vice President ; A. J. Faw­
cett, Cashier.
Articles of incorporation have been
adopted and filed with the Secretary of State. The
capital stock is $25,000.
A 11 attempt was made to rob the Bank of Hancock
J une 6th. The thieves succeeded in breaking the dial
off the.vault, but 110 further damage was done. To all
appearance a charge of nitroglycerine was poured in
the broken door, but for some unknown reason it was
not exploded. The bank officials sent to Omaha for
an expert, who opened the vault and found everything
intact. The damage to the vault was small.
The National Bank o f North America, Chicago, has
been approved as reserve agent for the First National
Bank of Buffalo Center, also for the First National
Bank of Crystal Lake, and the Iowa National Bank
o f Des Moines, the Marion County National Bank of
Knoxville and the Red Oak National Bank of Red
Oak. The Iowa National Bank of Des Moines for
the Merchants’ National Bank of Clinton.
W e have a comparative statement of the State Bank
This institution was organized in Au­

o f Gladbrook.

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Federal Reserve Bank of St. Louis

gust, 1900, with a capital of $50,000. On September
30, 1901, it had deposits of $65,000. On April 5,
1902, the deposits had grown to $112,000 and 011 June
18, 1902, to $130,000. The officers are: J. F. Lundt,
President; W. M. Achenbach, Vice President; Oliver
Henderson, Cashier; R. IT. Relider, Assistant Cashier.
A change of officers in the Citizens’ Bank of Hamp­
ton took place the first of June, when A. R. Carter,
President of the institution, retired from active work
in the bank, although he will remain one of the part­
ners. T. J. IL Robinson, the former cashier, was
elected President; N. W. Beebe, Vice President, and
W. L. Robinson, cashier. The latter gentleman lias
been President of the Bank of Alexander during the
past three years.
The Bank of Dawson at Dawson has opened for bus­
iness with the following officers: W. II. McCammon,
President; J. M. Woodworth, Vice President; D. W.
Davis, Cashier, and J. J. McCrory, Assistant Cashier.
Correspondents, the Continental National of Chicago
and the First National of Perry. The same “ crowd”
is back of the Bank of Rippey-—insuring success to
both institutions. J. J. McCrory will be the active
man in the Dewson bank.
The Treynor Savings Bank is now an established
fact. Its legal existence began last Tuesday, and on
that date the officers and stockholders got together and
started the machinery in motion. The new concern
starts out with bright prospects. It is backed by some
of our best citizens, who have the unlimited confidence
of everyone, and we predict that within an unusually
short time they will be doing a profitable business.
Treynor people never slight a home enterprise.
The Second National Bank of Dubuque also en­
tered suit to compel the assessor to deduct from the
the banks assessment its government bonds. Attorney
R. W. Stewart for the bank contended that the law
imposes greater burdens on the shareholders in nation­
al banks than it does on individuals of the state who
have money investments in banks other than national
banks. The Second National Bank offers to pay the
same amount of taxes imposed on other banks.

July, 1902.

THE

NORTHWESTERN

The first meeting o f the stockholders of the new
Farmers and Merchants’ Bank o f Washington was
held recently. At this meeting the organization was
completed, officers elected and all the necessary pre­
liminary arrangements made for going ahead with the
work. For officers the following well known farmers
and business men were chosen:
President, ( -has.
Ohngemacli; V ice President, David McLaughlin;
Cashier, S. A. W hite; Assistant Cashier, Edgar W il­
son. Perhaps it will be six weeks before the bank
will be running.
F. S. Needham, cashier of the Lake View State
Bank, has bought the controlling interest in the S t a t e
Security Bank of Sioux Rapids from C. B. Mills, the
cx-President of the State Bankers’ Association, and
who has recently been elected Cashier of the Peo­
ple’s Trust and Savings Bank o f Clinton. The trans­
fer o f the stock will be made 011 July 15. Mr. Need­
ham has bought the residence of Mr. Mills in Sioux
Rapids and will reside there permanently, while Mr.
Mills will move to Clinton.
The State Security
Bank has a capital of $30,000 and a deposit of 275,000, with a surplus of 15,000.
The Rockford State Bank has just been organized
to do a general banking business at Rockford, taking
the place of the Rockford Banking Company, whose
corporate existence expires by limitation. Articles
of incorporation are now on file. The incorporators are
Mary E. Lyman, R. M. Potter, G. F. ILeitz, Burton
Carroll, B'. A. AYallace, A. J. Esser, F. C. Johnson,
J. A. Cahill, James Murray, AT. II. Talbott, all of
Rockford, with Potter, President; Johnson, Vice
President, and AVallaee, Cashier. The capitl stock is
$25,000.
It lias developed that J. E. Morton, who tried to
swindle the Spencer Bank and several merchants out
of $400 and who was caught by Sheriff Parker at
Tara, is none other than the man who swindled Sioux
City merchants out of $2,000 by raising a check for
$100 to $2,100. l i e was chased all through the east­
ern part o f the United States and was finally arrested
in Boston. AATfile bringing his man back to Iowa the


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Federal Reserve Bank of St. Louis

BANKER.

23

latter jumped through the open window of the toilet
room of the sleeping car just after the train passed
Dubuque. Morton had not been seen or heard of from
that day until lie turned up a : Spencer.
Sioux City Tribune:
The case of the United
States against T. F. Ward, Manager of the defunct
LeMars National Bank, will not be tried at the present
term of federal court. Judge Shiras granted a con­
tinuance till the next term.
The application was
made by Ward’s attorney, J. M. Parson, of Rock Rap­
ids, and was not opposed by the government. There
were two charges, one of embezzlement, it, be charged
that Ward took about $30,000 of the bank’s money,
and the other of falsifying the records of a bank. The
defendant set up that two wr,nesses necessary to make
his defense were in California.
Some time ago application was made to the Comp­
troller of the Currency to organize what is to be
known as the First National Bank of Pocahontas, with
a capital of $25,000, and word has been received that
the application had been granted. L. C. Thornton,
President of the Pocahontas Savina’s Bank confirmed
the report and said that the First National Bank of
Pocahontas would be doing business in a very shorttime. The First National is a continuance of the pres­
ent Pocahontas Savings Bar k, which was first organ­
ized in 1882, by McEwen & Garlock, as the Farmers’
Bank ; and was operated as a private concern until
1893, when the stock was increased from $10,000 to
25,000. In 1893 a new organization was effected and
the name changed to the Pocahontas Savings Bank.
The owners of the ITrst National have been figuring
for some time to erect a new bank building on the
present site, and Mr. Thornton informs us that in the
near future the building wil Lbe erected. The new or­
ganization* is not expected to affect the present officers
of the bank.
In the personnel of thé :iew administration of the
Iowa State Bankers’ Association, which recently met
in annual convention at Des Moines, there is much to
commend, for it includes gentlemen who are entirely
representative of the financial institutions of the state.
Mr. Arthur Reynolds, President of the Des Moines

24

THE

NORTHWESTERN

BANKER.

Cbc northwestern Eife and Savings €0.

OP DES MOINES, IOWA,
Is the greatest Insurance and Investment company in the Central-Western states It
is the parent company issuing the ten-year endowment investment policy This
policy contains no confusing technicalities, but is a plain and simple promise to par
whether you live or die.
OFFICERS:
D. F. W IT T E R .......... ...............President A R TH U R R E Y N O L D S .... Vice-Preside n
G. W . M ARQUARDT
............. Treasurer
C. C R O W E L L .........................Secretary
F. H. NICHOLS.......... ...A sst Secretary W. L. E A T O N ................ General Attorney
W. H. K E N N E D Y ...
Supt. of Agencies
TRUSTEES:
G. W. Marquardt, Pres. Marquardt Sav. Bank Arthur Reynolds, Pres. Des Moines Nat’l B’k
John Herriott..........Ex-Treas. State of Iowa G. D. Ellyson. .Cashier Marquardt Sav. Bank
D .F . Witter, Ex-Pres. Iowa Loan & Trust Co. J. H. Blair...... Sec’ y Iowa Loan & Trust Co,
C. L. G ilcrest.... . ..Wholesale Lumberman F. C. Macartney. ,:Propr. Kirkwood House
M. M. Reynolds................................................ W . L. E aton ....................................................
Pres. Guthrie County Nat’l Bank, Panora
...... Representative, Mitchell Co., Ösage
H. H. Green, Pr.Elder, M. E. Ch., Dubuque J B Tinker................................. Mason City
C C. Crowell...............................Des Moines F. H. N ich ols.............................. Des Moines
W . H. K en n ed y.........................Des Moines
Agents with good records can secure employment in almost every State in the Union
by writing the NORTHWESTERN LIFE AND SAVINGS CO-, Des Moines, Iowa.

National Bank of Des Moines, was honored by being
chosen as a delegate to the American Bankers’ Asso­
ciation. l i e was also recommended for a member of
the Executive Council of the American Bankers’ As­
sociation ; the Iowa delegation being instructed to en­
deavor to secure his election to fill the vacancy made
by the retiring member from Iowa upon the Council;
and 011 account of bis popularity at home and wide
acquaintance throughout the country, we predict his
election.
I he ability Mr. Reynolds has shown in
building up the largest National Bank in Iowa with
splendid profit returns, demonstrates his knowledge
of banking and the sound judgment on the part of
the bankers of the state in presenting such men for
office in the National Association.— N. Y . Einancial
Review.

July, 1902.
.. ASSETS ..

T h e C o m p a n y ’s P y ra m id of Cross Assets
D#c. 31, ’96,
44,350 67
Dec. 31,’97,
6 8 ,1 7 7 .9 5
Dec. 31, 1898,

14 1,52 0.32
Dec. 31, 1899,

277,238.63
D ec.'31,'1900.

483,329.93
April 1,‘ 1901.

5 9 5 ,2 4 3 . 4 1
All policies are secured by a deposit of Interest-Bear­
ing Securities, deposited with the Auditor of State of Iowa.
PAID-UP CAPITAL, $100,000.00.

great many years during the early settlement of Da­
kota, Weare ajid Allison financed everybody on this
side of the Big Sioux. The people seemed to trust
them intuitively and they trusted the people and the
trust proved all right. The old firm passes into his­
tory with an unsullied reputation. This is true of
them as individuals as well as business men. Judge
Allison is now’ out of the banking business, and is run­
ning a ten thousand acre ranch in Wyoming. Ceo.
Weare is president of the Iowa State National. Weare
is 68 years old and Allison is 70. Weare is a native
of Vermont; Allison was born in New Hampshire.
On June 18th at Davenport occurred the marriage
of Miss Emma Behrens of that city to Mr. Julius Bur­
meister, the well known and popular assistant casnier
of the Iowa National Bank of that city. Mr. and Mrs.
Burmeister went immediately to housekeeping, fol­
lowed by the congratulations and well wishes of their
many friends. Mr. Burmeister is known to many
Iowa bankers, who will doubtless join us in wishing
him a happy and prosperous married life.
Thomas M. Thornton, receiver of the LeMars Na­
tional Bank, has made a fine record in conducting the
business of closing the bank'. A year ago he took the
grounds that the more speedily the business was closed
the greater the amount would be saved to creditors,
H e has acted upon that theory and would now he
ready to declare the final dividend but for a few suits
that are pending. It is probable that the affairs of the
institution will be fully closed by the first of August.

Two suits involving very important questions of law
were filed in Davenport recently. One o f these is
brought by the stockholders and directors o f the Citi­
zens’ National Bank of that city against the Board of
Review o f the City o f Davenport township and is in
the nature of an appeal from the assessments approved
by the hoard in the matter o f the taxable value of the
stock o f that bank. The petition recites that the
Board of Review was requested to deduct the amount
of the United States government bonds held and
owned by said hank and held as a part of its assets, to
the amount of $250,000. The board refused to make
any deduction on account of the bonds. The claim is
made that the refusal of the hoard and of the assessor
to deduct the amount of government bonds from the
Papers have been tiled in the United State Court
total assets and tax only the remainder when
in
two suits aggregating $12,000 against the Western
such deduction should he made was in viola­
Union Telegraph Company. The plaintiffs are C. E.
tion of the United States statutes and that the assess­
ment without such deduction is illegal, excessive and and G. R. Schriver, prominent cattle men of Britt,
and
the
Bank
of
Havelock,
Iowa.
void. A case of the same kind is the suit o f the Iowa Iowa,
Back of the suit is a story of a large and clever
National Bank against the same defendant and on the
swindle, involving hanks in three Iowa towns. Schriv­
same grounds.
er Bros., in the first suit for $8,972, claim they sold
The old banking firm o f Weare & Allison of Sioux eight cars of cattle for that amount to E. S. Barnes.
City was recently dissolved by mutual consent.
It The purchaser tendered in payment his individual
had been in existence forty-two years. Two years ago check on the Bank of Denison. Barnes orally repre­
the Weare and Allison Bank was merged in the Iowa sented to the plaintiffs that he would have the Bank
State National, hut the firm has remained in business o f Denison wire the Commercial Bank at Britt, where
closing out other property interests until now. For a Schriver Bros, transacted their banking business, and

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Federal Reserve Bank of St. Louis

July, 1902.

THE NORTHWESTERN BANKER

CAPITAI, STOCK, $ 2 0 0 ,0 0 0 .0 0 .

25
O FFIC E R S.

G. L. D o b so n , President.
P. M. St a r n e s , Secretary.

D. G. E d m u n o so n , Vice-President.
C a l v in M a n n in g , 2nd Vice-President.
D e F o r r h st B o w m a n , Ass’ t Sec’ y.
G eo E. P h a r s a l l . Treasurer.
IN•E. C o f f in , Counsel.
D IR E CTO R S.

Leslie M. Shaw, Governor of Iowa; Geo. L. Dobson, Secretary of State; Geo. E.
Pearsall, Cashier Citizens Nat’ l Bank; D. G. Edmundson, President Security Loan
and Trust Co., Des Moines, Iowa; N. E. Coffin, of Dudley & Coffin, Attorneys; P.
M. Starnes, Secretary, Des Moines, Iowa; Dr. S. J. Patterson, Cashier Dunlap
Bank, Dunlap, Iowa; Lewis Haas, Cashier Woodbine Savings Bank, Woodbine,
Iowa; A. S. Stults, Des Moines, Iowa; Hon. Calvin H. Manning, President Iowa
National Bank, Ottumwa, Iowa; E.E.Penney, Wholesale Coal, Cedar Rapids, Iowa.
DO YOU WANT to own a 10-Year Gold Bond? DO YOU WANT
to pay for it in installments? DO YOU WA1NT to have your unpaid install­
ments canceled at your death, and one-third more cash than you have paid given
your family or estate? DO YOU WANT an investment which will be as safe
as Iowa farm mortgages can make, held in trust by 1he state of Iowa, and which will
be guaranteed to you or your estate? IP YOU IDO apply for a

10-YEAR ACCUMULATIVE COLD BOND
FRO M THE

N A TIO N A L L IF E AN D T R U S T

CO.,

D e s

M o in e s, Io w a

An absolutely new contract in the field and one wh ich it will pay you to examine.

that the check would he honored and paid upon pre­
sentation. A message was delivered by the Western
Union Company, which purported to be from the
Bank of Denison. The plaintiff on this security deliv­
ered the cattle to Barnes, who took them and disposed
of them elsewhere. When the check was presented to
the Bank of Denison, payment was refused for the
reason that Barnes had no funds on deposit there. The
plaintiffs bring suit against the telegraph company
on the grounds that the telegram was false and was so
known or by the exercise of reasonable care and cau­
tion, ought to have been so known, and ask damages
for the amount named, $8,972, with interest.
The
Bank of Havelock bases claims for damages for
$3,500 on the same grounds, having released a mort­
gage for that amount,
A curious misapprehension arose at the last meeting
o f the State Bankers’ Convention as to some legisla­
tion. It was in relation to the negotiable instrument
law, which is a complete revision of the Iowa statutes
on that subject. The bill was as big as a hook. It was
introduced into the house by Clarke, o f the judiciary
committee, it having been placed in his hands by Jus­
tice McClain, the Iowa member of the Committee on
Uniform
Legislation
of
the
American
Bar
Association.
After some discussion the bill
passed the house. It was sucli a complicated hill that
no effort was made by its advocate to explain it or de­
fend it. All they could-say was that the bill had been
agreed on by a committee o f eminent lawyers as the
most complete codification of suck laws vet devised.
The bill rested in the senate until the last day of the
session, when it was passed in a hurry.
Only one
change was made in the bill. This was to strike out
the clause repealing all laws relating to days of grace.
The legislature had several times refused distinctly to
abolish days of grace. When the bill'came up the last
time the question was asked if the striking: out of this
repealing clause would materially affect the hill. Ils
advocates accepted the amendment, because to have
done otherwise would have meant defeat of the bill.
It seems that the State Bankers’ Association under­
stood that the hill repeals the days o f grace law. It

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Federal Reserve Bank of St. Louis

was not so understood by those who passed the hill. It
seems that the bankers were desirous of having the
days of grace abolished, and would prefer that that
relic of stage coach days and imperfect banking sys­
tems done away with in Iowa, but every plan to do so
failed.
The First National Bank 0:: Chicago has been ap­
proved as reserve agent for the First National Bank
of B’rooklyn. The National Bank of Nortli America,
Chicago, for the Citizens’ National Bank of Cedar
Falls, the First National Bank of Chicago for Com­
mercial National Bank of Council Bluffs, National
Bank of North America of Chicago for the First Na­
tional Bank of Fort Dodge, the First National Bank
of Chicago for the First National Bank of Lost Na­
tion, the National Bank of Commerce of St. Louis for
the First National Bank o f Marshalltown, the First
National Bank of Omaha, Neb., for the Farmers’ Na­
tional B'ank of Bed Oak, the First National Bank of
Chicago for the Anamosa National Bank of Anamosa,
the National Bank of Commerce of St. Louis for the
First National Bank of Council Bluffs, the First Na­
tional Bank of Chicago for the First National Bank
of Denison, the Third National Bank of St. Louis,
Mo., for tke Des Moines National Bank of
Des Moines, the National Bank of Commerce of St.
Louis, Mo., for the Keokuk National Bank of Keo­
kuk, the National Bank of Commerce of St. Louis,
Mo., for the Ottumwa National Bank of Ottumwa,
the Corn Exchange National 3ank of Chicago for the
First National Bank of Traor, the Continental Na­
tional Bank of Chicago for the Citizens’ National
Bank of Washington, the First National Bank of Chi­
cago for the First National Lank of Cowrie, also the
Live- Stock National Bank of Sioux City, The Na­
tional Bank of Commerce of New York for the Na­
tional State Bank of Burlington, First National Bank
of Chicago for the First Nalional Bank of Glidden,
also the First National Baux of Pomeroy, and the
First National Bank of Swea City, the Bankers’ Na­
tional Bank of Chicago for the First National Bank
of Ruthven.

TH E NORTHW ESTERN

2Ó

S EGURITY
SAVNCS

c

d

BANK

— —

THE CEDAR RAPIDS
NATIONAL BANK

Rapids

Capital and Surplus,$ 140,000,00
Deposits,
1,378,000,00
Does no Commercial Banking, but offers for Iowa business the servi.es
of a careful, competent and exclusive Savings Bank, paying interest on
deposits at the rate of

p er

C e n t.

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

Udell will soon have a new bank.
J. II. G. Peters will open a general banking busi­
ness at West Side soon.
W e are told that Ellis & Ellis will put in this fall
a Savings Bank at Charles City.
The German Savings Bank of Des Moines has de­
clared a 4 per cent dividend to all stockholders.
Corporate existence of the Atlantic National Bank
of Atlantic has been extended to June 24, 1922.
A savings bank is to be established at Brooks by W.
S. Ilefling and others. Work has commenced on the
building.
It is now definitely settled that Salix is to have an­
other bank. Messrs. Fortin Bros, are at the bead of
the enterprise.
The S.tate Exchange Bank of Collins lias received
a number of savings banks to give to its smaller pa­
trons to aid them in building up an account.
The Davenport Savings Bank’s officers have issued
a very useful souvenir in the shape of a needle case,
which will be a delight to every lady in Davenport.
A bank lias been organized at Ewing with a capital
stock of $10,000. Dr. J. P. Frame is President of
the institution and Judge IT. B. Garnett is Cashier.
E. M. Coppage, Cashier of the Farmers’ Exchange
Bank of Stanton, and Minnie Hawkins, a prominent
young lady of that city, were united in marriage June
18.
H. A. French, the popular Assistant Cashier of the
Mills County National Bank of Glenwood, was mar-'
ried Wednesday, June 18, to Miss Bessie Steadman
at Vinton.
The directors of the Citizens’ State Bank of Spen­
cer have purchased of C. B. Mills and A. J. Wilson
their half interest in the Citizens’ Bank of W ebb ana
now own the entire institution.
A n application to organize the First National Bank
of Klemme was approved June 28. Capital, $25,000.
E. C. Abbey, Garner, Iowa, C. S. Terwilliger, Isaac
Sweigard, M. B. Cooper and A. Kelly.


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Federal Reserve Bank of St. Louis

July, 1902.

BANKER.

OF IOWA

Capital, $100,000.
Surplus, 70,000.

UNITED
STATES
DEPOSITARY

O F F IC E R S A N D D IR E C T O R S
A T. A v u r il l , President
G. F. V an V e c h t e n , Vice-Prest.
G e o r g e B. D o uglas

C h r is t ia n M agnus

P. E . H a l l

E d . H. Sm i ^ h
R a lph V an V e c h t e n , Cashier

U N E XC E L LE D CONNECTIONS THROUGHOUT IOWA
FOR HANDLING COLLECTIONS AND BANKERS’ ACCOUNTS

A bank was organized at Unionville recently. D.
C. Bradley of Centerville was elected President. A
cashier was not elected at this meeting, but it is gen­
erally conceded that Noah Smith will be the cashier.
The First National Bank of Wesley elected Stitzel
N. Way to the Presidency and Theodore Doerfler to
the cashiership. There ware no other changes, Julius
Ivunz remaining as Assistant Cashier and Thomas A.
Way as Vice President.
Judge Helsell is now Vice President of the Bank
of Sioux Rapids, taking the title and responsibilities
loft vacant by the death of O. P. Thompson. T. M.
Murdoch succeeds to the office of Cashier made vacant
by Mr. Helsell’s advancement.
It is now thought that the insolvent estate of the
late Henry Hospers, of Orange City, will pay the de­
positors in his bank 80 per cent. The school deposits
amounting to $22,531.96 were held by the court to
be preferred and were paid in full.
Governor Yates has honored the requisition of Gov­
ernor Cummins of Iowa for the extradition of J . W.
Laswell, wanted in Fort Madison, charged with bor­
rowing $2,000 from the Lee County Savings Bank
with intent to defraud the bank.
June 27th marked the thirty-ninth anniversary of
the First National Bank of. Davenport, which was
also the First National Bank in operation in the Uni­
ted States. The bank was organized in this city June
27, 1863, and was in operation two days later.
Win. Mee, President of the First National Bank of
Gladbrook, organized a bank to be established at Ber­
lin. The bank will be known as the “ German Savings
Bank,” of Berlin, and have a paid up capital of $15,000. Mr. Mee has been elected President; Henry
Ludwdg, Vice President, and Theo. Relider, Cashier.
Mr. J. J. T own, formerly of Des Moines, now of
Elgin, 111., and Mrs. M. M. Glass of Northeast Penn­
sylvania, were married Wednesday evening, June 11,
in Pennsylvania. Mr. Town was formerly president
of the Valley Bank. H e lost his wife some two years
ago and went to Elgin to make his home with a
daughter.

THE

July, 1902.

NORTHWESTERN ¡BANKER.

27

T fI E

INVITE TH E SPECIAL ATTE N T IO N OF BAN K S A N D
Bankers who seek a Davenport correspondent to this institution.
Every modern facility is offered for a prompt, careful service. Collections
a specialty. : : : : : : : : : : : : : :
: : : : : : :

The enterprising town of Remsen is to have a new
banking house and the new institution will be opened
for business on August 15. The new bank will be
known as the Farmers and Merchants’ Bank and will
start with a capital stock of $10,000. Henry Schaafs,
a retired merchant of Remsen, has been elected Presi­
dent and M. R. Faber has been selected as Cashier
and Manager.
A number of the citizens of Douds and Leando,
together with some capitalists from Ottumwa, have
formed a stock company for the purpose of opening a
bank at Douds, to be known as the Douds and Leando
Savings Bank. The contract for the building has
been closed. It is to be a substantial brick structure
30x50 feet. Calvin Manning is the President and G.
C. McGill, Cashier.
W e are advised by Chairman E. J. Curtin of De­
corah that there will be a meeting of Group Six of thq
Iowa Bankers’ Association at Waterloo on Tuesday,
July 8, 1902, at 10 o’clock a. m.
Waterloo was
chosen as the place of meeting on account of its ex-'
cellent railroad facilities, and during that week the
railroads will sell excursion tickets from points within
seventy-five miles of Waterloo at reduced rates.
W. J. Singleton, Cashier of the State Bank of Nauvoo, sends the report of that institution. The deposits
show a gain of $127,544.50 for the past twelve
months. When Mr. Singleton went into the State
Bank in October, 189G, they had deposits of $97,454,49 and on May 12, 1902, their deposits were $371,352.80. l i e is evidently bringing the same energy
and push into the State Bank that he had wlien he es­
tablished and made a success of the Bank of West
Point when ho was its Cashier.
The organization of another bank was perfected at
Allerton recently. Considerable talk has been made
in reference to the matter since the consummation of
the deal whereby the present Bank of Allerton sold out
to the Allerton State Bank. The following officers
were elected: W. T. Grimes, President; J. B. Ran­


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Federal Reserve Bank of St. Louis

kin, Cashier. The bank will be a private one and will
have a capital of $25,000. It will necessarily be a
month or two before they will be ready, for business.
It will be named the Bank of Allerton.
Herman Shultz, an uncouth German farm laborer
of Hubbard, was arrested at Whitten recently upon
a charge of forgery, he having successfully “ worked” '
the Hubbard State Bank for the sum of $400 on a
forged note of one John Eller, living near Hubbard.
The bank, however, was fortunate in discovering the
forgery and got most of the money back from the lad.
H e went next to Eldora and tried to work the Hardin
County Bank on a $100 forged note which he desired
to sell. Cashier Robb refused to buy. On account
o f ‘ the green appearance of the lad it is believed by
many that the boy is acting as a tool for some sharp
swindler who is keeping in the dark.

W e present above a cut of the new bank building
of the Bank of State Center. Whatever description
of the building that might be given would but half
tell the story of its beauty and convenience.
The
new Bank of State Center must bo seen to bo fully
appreciated. The building and furnishings are thor­
oughly up-to-date, and in its completeness forms a
business home and which there is none better in the

THE

28

NORTHWESTERN

BANKER.

July, 1902.

^ i r s i ¿ R a t io n a l ffia n lf
DUBUQUE,

IOWA.

C a p ita l, $ 2 0 0 ,0 0 0 . S u rp lu s and P ro fits ,
$ 4 S ,0 0 0 . D e p o s its , $ 1,2 2 9 ,0 0 0 .
C. H

E I G H M E Y , P R E S ID E N T .
E . A . E N G L E R , V IC E -P R E S ID E N T .
O. E. G U E R N SE Y

C A S H IE R .

B. F . B L O C K L l N G E R . A S S ’ T C A S H IE R .
D ir e c to r s .

C. H. Eighmey,
E. A. Engler,
Geo A. Btudeu,
M. M. Walker,
M. R. Amsden,
F. W. Coates,
Jas. C. Collier,
O. E. Guernsey.

S E C U R IT Y
N A T IO N A L

BANK.

SIOUX CITY, IOWA.

—ESTABLISHED 1884—

United States
Depository.

Capital, $ 2 5 0 ,0 0 0
Surplus,
5 0 ,0 0 0

W . P. M a n l e y , President.
C. L. W
T. A . B l a c k , Cashier.

e ig h t ,

Yice-Pres.

state of Iowa, nor would a place of 25,000 inhabitants
bo too large to take pride in such a structure. The
building is 25x80 and is constructed of St. Louis
granite brick. It is supplied with electric lights,
steam heat, telephones, closets, toilet rooms and lava­
tories. The banking room proper is 25x50 feet, trim­
med in quarter sawed antique oak. The office is
equipped with a large vault, containing a triple timer
-automatic burglar proof safe, besides every known
convenience for the ready handling of a modern bank­
ing business. The bank has a capital of $50,000 and
the officers are:
Geo. J). Wood, President; W. N.
Gilbert, Vice President, and O. F. Ecklund, Cashier.
F. S. Needham, for fourteen years Cashier of the
Lake View State Bank, at Lake View, Sac county,
has purchased a controlling interest in the State Se­
curity Bank at Sioux Rapids, Buena Vista county.
This is the bank C. B. Mills leaves to remove to Clin­
ton. Mr. Needham has also purchased the Mills
homestead in Sioux Rapids, which he will soon oc­
cupy with his family. It may be well observed of
Sioux Rapids that it is hard to keep a good town
down. Sioux City Journal. Mr. Needham needs no
introduction to the bankers of Iowa. ILe is one of
Iowa’s most successful young bankers. He will as­
sume control of the bank July 15th. W e understand
that Hon. Phil. Sclialler is associated with Mr. Need­
ham in the control of the bank. The State Security
Bank has a capital of $30,000 and a deposit of $275,000, with a surplus o f $15,000.


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Federal Reserve Bank of St. Louis

T5 A T V rt7C i
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D A l l
Modern Country Bank Buildings, costing $3,000 to $5,000.
Price, JSi . oo

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ST. PAUL, MINNESOTA.

à f t ï l I S a

Messrs. A l e x McHugh, of Ida Grove, Iowa, Edwin
Coles, and Edward Cain, of Bagley, Iowa, and Abram
Cain, of Lanesborro, have made arrangements to
start a bank at the new town of Lanesborro. A
temporary building is now in process of erection at
the new town site, and a splendid new fire and
burglar proof safe has been ordered, and as soon as
it reaches the new town site, the bank will begin
operations.
F. W. Wohlenberg will be the cashier
of the new bank.
Abram Cain and his brother Edward'are large land owners and heavy cattle feeders.
Mr. McHugh is president of the Bagley Bank, also
president ot the Battle Creek Savings Bank, of Battle
Creek, Iowa, and a stockholder in the Bank of Colman, Colman, South Dakota, and owner of large
landed interests in Ida and Guthrie counties, Iowa,
and in South Dakota. Edwin Coles is cashier of the
Bagley Bank, Bagley, Iowa. The personal responsibi.ity of the firm is at least $275,000.00, and as the
bank will be a private institution, the entire strength
of the owners is behind it. As soon as the town
site is platted, the bank, which will be called the
Farmers Bank, will erect a suitable, substantial
building for permanent occupancy.
Mr. Wohlen­
berg, the cashier, has been with the Bagley Bank
for the past year. Prior to that he was with the
Ida County Savings Bank, of Ida Grove, Iowa.
Directors of the State Bank of Chicago have voted
to take from undivided profit $100,000 and credit it
to the surplus account. This will make the surplus
$200,000 and the capital surplus $1,200,000. The
bank has been unusually prosperous in the last five
years.

29

TH E NORTHW ESTERN BANKER.

July, 1902.

G erman S ayings
B ank.
D ÄYEN P 0 RT, I 0 W Ä

CASH CAPITAL $500,000.00.

STATEM ENT, JUNE 18, 1902.

ASSETS.
L oans.............................................................................. 16,946,191.44
Cash and Exchange...................................................
483,437.67
Real Estate and Personal Property...........................
63,181.64
Total Assets........................................ ..................17,492 ,8to.75

JENS LORENZEN, President.
CHAS N. VOSS, Cashier.
H. LISCHER, Vice-President.
R . ANDRESEN, Ass’ t Cashier.
E D . KAUFMANN, Ass’ t Cashier.

LIA BILITIE S.

DIRECTORS.
F. G. CLAUSSEN.
JENS LORENZEN.
H. LISCHER.

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

H. H. ANDRESEN.
F. H. GRIGGS.
PAULO RODDEW IG

ADDITIONAL STATE ITEMS.
NEBRASKA.

The First National Bank o f Humphrey has no
cashier in place o f Lee Martyn.
The Merchants’ National Bank of Omaha has been
approved as reserve agent for the Custer National
Bank of Broken B ow ; the Tootle-Lemon National
Bank o f St. Joseph, Mo., for the First National Bank
of Weeping Water.
DAKOTA.

The Chase National Bank of New York and the
First National Bank o f Minneapolis have been ap­
proved as reserve agents for the National Bank of
Larimore, N. D.
An application was approved June 27 to organize
the First National Bank of Rugby. Capital, $25,000.
A. LI. Jones, R u gby; F. W. Wilder, C. F. Williams,
George Salisbury and J. C. Cramond.
A certificate to organize the Minot National Bank
of Minot was issued June 23. Capital, $25,000. Her­
man J. Haskamp, President; Jacob A. Erickson,
Cashier. Conversion of the Security State Bank of
Minot.
Application to organize the Hot Springs, S. D., Na­
tional Bank of H ot Springs was approved June 25th.
Capital, $25,000. E. S. Kelly, H ot Springs; W. W.
Stewart, K. G. Stewart, C. A. K elly and W. S. G.
Robinson.
An application to organize the First National B'ank
o f Lfikton, S. I)., was approved June 28th. Capital,
$25,000. W. A. Mall, Belle Blaine, Iow a; E. R. Zalesky, J. B. Cox, F. E. Gerlach and Wm. Redeke.
of Elkton was approved June 28th. Capital, $25,000.
W. A. Mall, Belle Plaine, Io w a ; E. R. Zalesky, J. B.
Cox, F. E. Gerlach and Wm. Radeke.
MINNESOTA.

The First National Bank of Preston now has
Thomas J. Meighan as their Vice President.
The First National Bank of Winnebago City now
has J. A. Reagan, President, in place of G. D. Eygabroad.
The State Bank of Silver Lake, capital $10,000,
and the State Bank of Milroy, capital $15,000, have
been incorporated and are authorized to do business.


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Federal Reserve Bank of St. Louis

Deposits.................................
Capital.........................................
Surplus...........................................................................
Undivided Profits.......................
TotalLiabilities.................

$6,655,314.41
500,000.00
200,000.00
137,456.34
$7,492,810.75

June 25th a certificate to organize was issued the
First National Bank of Dawson. Capital, $30,000.
S. Christoplierson, President; C. H. Sullivan,
Cashier.
A certificate to organize the First National Bank
of Spring Valley was issued < une 23. Capital, $50,000. W . P. Tearse, President; J. H. Davis, Jr.,
Cashier.
An application to organize the First National Bank
of Pelican Rapids was approved June 24th. J. S.
Ulland, F. J. Evans, T. M. McLean, R. J. Angus and
EL J. Webber. Capital, $25 000.
The Bank of Cloquet, with a capital of $25,000,
has been organized with C. F. Leland as President
and T. II. Martin as Vice President. Both are Du­
luth men and the bank begins business September 1.
The First National Bank of Chicago has been ap­
proved as reserve agent for the National Bank of
Commerce of Minneapolis. The First National Bank
of Minneapolis and the National Bank of Commerce
for the First National Bank o f Two Harbors.
The State Bank of Northwood closed its doors
about a year ago and at the Ime of closing there was
about $3,000 of Grand Forks county funds in the
bank at the time. The men who signed the bond to
make the State Bank of Northwood a county deposi­
tory were Sidney C. Lough, also Cashier of the bank;
P. S. Evanson, a director of the bank; Geo. W. Hart,
the plaintiff in the action; Peter O. Mandt and Ilalvor Rierson. The last three named paid their pro
rata share of the loss sustain 3d by Grand Forks coun­
ty, and were relieved of all further liability by the
Grand Forks county commissioners. After this set­
tlement, Mandt and Rierson assigned their claims to
Geo. W. Hart, who started che action against the de­
fendants named above, who were directors in the
State Bank of Northwood. Before the case went to
the jury, the court directed a verdict in favor of Han­
son as one of the defendants, on the ground that Han­
son was not a member of the B'oard of Directors at
the time the Grand Forks county funds were depos­
ited in the bank, or when tin; bond was signed by Hart
et al.

July, 1902.

THE NORTHWESTERN BANKER.

30

I. C. E l s t o n , President
G e o . H. R a t h m a n , Cashier.

Seott Çourçty SauiQ<£5Bai?^

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

F. L. E a t o n , Vice-President
E . C C u r r e y , Ass’ t Cash.

LOCATED

AT

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

S IO U X C IT Y S T O C K Y A R D S .

Dauerçport, lou/a.
Capital, Surplus and Undivided Profits, $303,c6o.$2

Capital,
Surplus,

-

•
-

$100,000.00
75,000.00

Deposits, $3,230,417.4$

S A V E TIME
J. H.SEARS, Pres.

H. F. PETERSEN. V-Pres.

J.H. HASS, Cashier.

I. C. Elston,
F. L. Eaton,

MINNESOTA CONVENTION.

The Thirteenth Annual Convention of the Minne­
sota Bankers’ Association, held at Crookston June 24,
25 and 26, was by far the largest and most enthusias­
tic ever held by the State Association. The total reg­
istration of actual bankers was over 200, and in addi­
tion to these were a large number of ladies who ac­
companied the bankers.
President John R. Mitchell of Winona called the
convention to order. The general meeting of the con­
vention opened by prayer. Mayor C. A. Hitchcock was
then introduced and gave a very cordial address of
welcome.
Following Mayor Hitchcock’s address came the an­
nual address of President Mitchell, the report of Sec­
retary Joseph Chapman and the annual report of
Treasurer George IT. Prince.
John P . Mitchell, President of the Association, in
his annual address said: “ During the past year the
organization has had a marked growth.
This has
come about because of the great benefit accruing to
banks. The co-operation of the various banking in­
stitutions of the state has been most beneficial during
the past year in heading off legislation. The defeat of
the taxation bill may be largely credited to the influ­
ence o f this association. In expressing this fact he
offered, he said, no criticism on the drafters of the
bill, who did the best thing they could under the cir­
cumstances. Such legislation to be effective must be
preceded by constitutional amendment.
In taking
this important stand in regard to legislation, the bank­
ers feel that they stand for the upbuilding of all the
industries of the state, as well as for their own inter­
ests. The speaker dwelt on the diversified interests
of the Northeast, the development of the agricultural
interests o f the whole state. During the past year the
combined deposits have increased 125 per cent. The


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Federal Reserve Bank of St. Louis

AND M O N EV

BY SENDING STOCK YARDS BUSINESS DIRECT.

DIRECTORS :
Samuel McRoberts,
W m. Milchrist,
Geo. H. Rathman,

F. W. Rathman,
E. C. Currey.

future promises more, and this is a general condition
of the country. This prosperity will continue as long
as our commercial supremacy shall last. W e must
make up the raw material on our own soil and com­
pete with foreign countries for the sale of the finished
product.
This day of gigantic enterprises calls for combina­
tions and concentration of capital, and this will be the
law of natural development for the future.
The
speaker referred to Mr. H ill’s recent utterances on
this question as expressive of the general sentiment
of the business world.
New ideas of banking must be realized in new
banking laws, allowing a more elastic currency. Nat­
urally the banks themselves are the ones to decide
what shall be the methods of the future.
Another general monetary conference is needed.
Lastly we must learn the meaning of co-operation as
applied to our interests and all pull together, when
unexpected and lasting results will follow.”
The Secretary, Joseph Chapman, Jr., brought out
some salient facts in his report of the Executive Coun­
cil. Tie recommended some change in the war tax
and that congress repeal the whole war revenue law.
The special and important work of the Council, said
he, was to kill the proposed tax legislation. During
the year it has secured the conviction of one Gilmore,
a bank embezzler.
The membership has increased during the year
from 160 to 425.
The publishing of the Bank Messenger has been
an especial feature of this year’s work.
The Secretary then gave a little “ heart to heart”
talk, in which lie urged the adoption of all means to
make the Association include every banker in the
state.
.
. . . .
Following is the statement of the Treasurer of the
Minnesota Bankers’ Association:

TH E NORTHW ESTERN BAN KER.

July, 1902

N e w

31

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M a n a g e m e n t.

EQUITABLE TURKISH BATH ROOMS
A N D

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OPEN DAY AND NIGHT ¿«Clean, Comfortable Sleeping Apartments^Expert Bath Men from the Great Northern, of Chicago.

tnrHlsl), Russian, Electric Eight, electric, Plain ana Plunge B»tl>$.
M a r b le F in is h e d R o o m s .

Mutual Phone 1366.

Iowa Phone 107.

June 23, 1 9 0 2 Balance at commencement of year............. $ 938.41
Receipts to d a t e .............................................. 2,054.75
Total ............................................................ $2,993.16
Disbursements as per vouchers.................... 1,630.36
Balance on hand this date............................... 1,362.80
Total ........................................................... $2,993.16
In addition to this there is $580 in the protective
fund. This will he increased this year about $325,
being $1 for each member, less $80 expenses incurred
in convicting one Gilmore for forgery.
Geo. H. Prince, Treasurer.
The first paper of the morning was that on “ Trust
Companies,” by E. A. Merrill, President of the Min­
nesota Loan and Trust Company of Minneapolis. Mr.
Merrill’s address, which was an able one and treated
of tho character of trust companies and their work,
Avas attentively listened to by the association. Attem
tion Avas particularly called to the importance of trust'
companies
in
developing
and
conserving
the
interests
of
the
state.
Mr.
Merrill
stated that much loss had been occasioned in
the West by the fact that until recently securities
Avere approved and placed by the trust companies of
the East, and he gave a lucid account o f how Minne­
sota lias lost from $20,000,000 to $30,000,000 in the
case of the Twin City Rapid Transit Company. Trust
companies Avere originally formed to care for the
estates of deceased persons, hut their work has groAvn
much broader.
“ The Banker’s Obligation” Avas the theme of a
splendid address by Hon. S. T. Johnson, Public E x­
aminer for Minnesota. Passing over the legal and im­
plied obligations of the banker, Avhicli he must obey,
lie dwelt in a high-minded manner with the moral
obligations resting on him.
The banker, said he,
should be a man o f noble impulse, and Avith a knowl­
edge as Avide and A'aried as the needs of the race.
W hile he is necessarily a man of autocratic poAver,
“ mercy should season justice. A heart of sympathy
Avill sIioav a tone and manner that Avill give hope to
those under the strain of financial burdens. H e is the
natural adAusor of the young and visionary, of the


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Federal Reserve Bank of St. Louis

BENJ. F. PARKER, Manager.

care-worn and distressed, the widow and the orphan.
It is his part, to assist in directing the life current of
the community in Avhich he lives. Empires rise and
fall at the hankers’ word. The Avhole fabric of indus­
trial and social life rests to a large extent on the man­
ner in Avhich the kings of finances direct the affairs
of industry. As an arbiter in financial difficulties lie
lias an opportunity to gain ar. enviable reputation for
justice and equity. ILe must treat the employee as
one necessary to his avelf are, : f he would see a mutual
thrift. The banker’s interesa in local government
should he proportionate to his large influence. He
should he the oracle and pattern for the life of his
community.
The morning’s program Avas conchided by a short,
spicy address on “ The Education of the Bank Clerk,”
by A. C. Anderson. His remarks were amusing and
to the point, and were listened to with the greatest in­
terest. Mr. Anderson is an able writer as Avell as a
successful hanker, and one who has learned and is still
learning by practical experience and constant study
that education so essential tc success. 'H e Avas, there­
fore, exceptionally AVell qualified to speak on the sub­
ject assigned to him. It w il. be remembered that Mr.
Anderson recently took up nid completed a course of
laAV study so as to he better qualified for the banking
business.
The first afternoon’s session of the Bankers’ Asso­
ciation opened Avith an elaborate and logical discussion
on the topic, “ Can Panics Be Prevented ?” by S. R.
Flynn, President of the Ha ional Live Stock Bank of
Chicago. Some interesting figures were first giAren
on the cause of hank failures. Among the actual as­
signed causes for 401 failures, 178 were due to dis­
honesty, 187 to ignorance of financial and industrial
conditions, and 36 to mismanagement. The speaker
advocated the old fashioned notion that the interest
of the depositor is paramount. Panics are not an un­
mixed evil. They seem to be necessary at times to
purify the atmosphere. The over-ambitious banker
does not need the danger signals of today and so aids
in bringing on unsafe ventures that must result in a
panic.
H o laAvs.can he passed to prevent panics,
though their rigorous effect, may be softened. It is
our clear duty in prosperity to prepare for adversity.

TH E NORTHW ESTERN BANKER.

32

July, 1902.
I

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Showing the interest on all amounts from $L CO to $10,000.00, and from one day to five years, at 2, 2)4, 3, 3>L 4, 4)4,
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Every bank and financial house in the world needs a similar book to this and all admit their great value in the
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B a k e r -V a w te r C o m p a n y

A ccountants-A uditors
Devisers¡of B u sin es s S ys tem s
M an u factu rers

Various measures have been proposed to provide a
panacea for all monetary ills, chief among which is
the establishment of an asset currency. The speaker
did not believe in this theory and discussed at length,
showing that the plan did not and could not offer the
essentials of a sound currency. The system of branch
banking was explained and endorsed; but this plan
cannot prevent panics either. The tendency of events
is toward “ community o f interests” in banking busi­
ness. Legislation should not be called in to estab­
lish the system; natural evolution will more properly
settle the matter. The independent banking system
was declared to be the best, in as much as each bank
knows best the needs of its special section. The next
panic will be due to causes different somewhat from
those of the past. Vast over-capitalization, watering
of stock, too free loaning, will play havoc with our
business interests. There should be voluntary affilia­
tions o f banks in small groups, which may prevent the
issuance of too much credit.
The “ Group System” was explained by Mr. C. B.
Mills, retiring President of the Iowa Bankers’ Asso­
ciation and Cashier of the People’s Trust and Savings
Bank of Chnton. Mr. Mills has been one of the most
enthusiastic promoters o f the group system in Iowa
and he explained in detail the advantages of such a
system— how they were organized and the difficulties
that must be overcome to make the system a success.
The plan as outlined by him was simple and feasible,
depending chiefly on two “ ifs,” if the state be proper­
ly districted, and if competent and influential men
manage the work.
“ Reciprocity and Trade Relations with Canada”
was most ably presented by Mr. T. M. Knappen, As­
sociate Editor of the Minneapolis Journal. The dis­
cussion was elaborate, complete and convincing. The
speaker showed how we had lost our golden oppor­
tunity for political union at the close of the Revolu­
tionary war, and the effect o f the various treaties since
then. W e now face new conditions as this vast West­
ern Canada opens new attractions to United States
emigrants and capitalists, the vast.influx o f men and
money from this country is sure to change our trade
relations with foreign countries, particularly in breadstuffs; but eventually there will come by force of


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Federal Reserve Bank of St. Louis

Money or stamps must accomWestern Office and Works

ATCHISON, KAN.

events, not only a commercial, but a political union of
two like peoples now separated only by an artificial
boundary line.

SECOND DAY’ S SESSION.

Edwin Goodali, Secretary of Bankers’ Money Or­
der Association, read a paper on “ Bankers’ Money
Order,” in which he advocated the banks’ engaging
in this business, believing that the banks ought to
get a large volume of business, even in competition
with the express companies and the government. To
get this business it is necessary to co-operate and ad­
vertise as extensively as the express companies.
The subject of the “ Bank Clerks’ Association” wa$
presented by Orrin M. Greene, President of Minne­
apolis Bank Clerks’ Association. H e showed in a
very interesting manner the object and work of the
Minneapolis chapter, which is really the parent chap­
ter and a type of those formed later. The purpose of
this organization is to educate the clerks for their
profession and to enlarge their knowledge on general
financial matters. It is really a school for bankers
with interest mutual with the banks. Regular courses
are pursued each year, lectures given by prominent
financiers and general reading encouraged.
The final act of the convention was that of choos­
ing officers for the coming year. Crookston was lion
ored in that J. W. Wheeler, Cashier of the First Na­
tional Bank of that city, was made President. A. C.
Anderson, Cashier of the St, Paul National Bank,
was made Vice President ; Joseph Chapman, Jr., be­
ing named as Secretary, and Geo. H. Prince, Treasur­
er, both the latter being re-elections.
After the afternoon and evening festivities the
bankers and other guests took sleepers and woke up
the next morning in Winnipeg. This delightful side
trip was provided and given to the visitors by the
Crookston bankers. In Winnipeg the bankers were
shown every attention. Lunches, receptions, the
Gymkhana, and a special trip through a part of Mani­
toba tell the story of the Winnipeg trip. The Crook­
ston 1tankers certainly deserve the thanks of banking
fraternity for the great success of the convention and
the splendid entertainment provided.

July, 1902.

THE

NORTHW ESTERN

BANKER.

33
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CONTENTION NOTES.

In ten years the deposits in the banks of the state
have increased from $75,000,000 to $158,000,000.
A. L. Ward in a very eloquent and entertaining
way emphasized the points brought out by the first
speaker.
The selection of the delegates to the next gathering
of the American Bankers’ Association was left to the
Secretary.
A motion was passed making the Superintendent of
Banks and the Bank Examiner honorary members of
the State Association.
Seventy per cent of the banks of the state are mem­
bers of the Association, and the Association is one of
the largest in the country.
The convention expressed itself in favor of the ac­
ceptance of the invitation of Seattle to hold the con­
vention of 1903 in that city.
The report of Secretary Chapman shows a growth
o f from 160 members in January, 1900, to that of
420 members in June, 1902.
The Association last year spent $80 in successfufiy
conducting the prosecution of J. M. Gilmore, who'
forged a note which he offered to the Exchange Bank
of Farmington.

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Federal Reserve Bank of St. Louis

Mr. C. W. Gess, as chairman of the Committee on
Resolutions, among the ordinary resolutions of thanks
for courtesies, presented one of peculiar significance,
in which the “ Branch System” was condemned.
C. A. Hubbard in a brief, but pointed article, set
forth the injustice of taxation of the undivided profits
of banks and showed other ways in which the banks
bear an undue proportion of the state’s burden of
taxes.
S. T. Johnson, Public Examiner, was called on to
contribute to the discussiom. He endorsed the pro­
posed amendments to the state constitution to be voted
on next fall, as a means of preparing the way for an
equalization of taxes.
The subject of “ Group System,” of co-operation,
was brought up for discussion and resolution. A res­
olution was carried adopting this system for Minne­
sota, and instructing the incoming executive council
to take up the work, district t ie state and provide for
meetings in ten different localities during the months
of January and February, 1903.
From Secretary Chapman’s report: Our Presi­
dent was instructed to appear before the Ways and
Means Committee of the House and the Finance Com­
mittee of the Senate and inform them that .the Minne­
sota State Bankers’ Association desired the repeal of
the clause of the war revenue law relating to banks

TH E NORTHW ESTERN BANKER.

34

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

■

July, 1902.

• ■

'■

-

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I O W A ’ S B E A D IN G B A N K S U P P E Y H O U S E .

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and bankers. Y on can judge for yourselves what an
impression he must have made, as Congress repealed
the entire bill.
“ Branch Banking” was condemned by Mr. IT. R.
Wells, showing how the merging of banking interests
would-tend to enrich the great Western capitalists at
the expense o f Western capital.
Large banks are
breeders of trusts, he said, and work to the detriment
of the whole country. H e claimed that Eastern finan­
ciers had been reading the handwriting on the wall
that the West is to rule the future o f financial affair^
and that they were taking.this method of concentra­
tion to postpone the day of sorrow for them.

GENERAL NEWS AND NOTES.

The State Bank of Chicago has added $100,000 of
its undivided profits to its surplus account, making the
latter $200,000. The business o f the institution is
unprecedentedly good and the stock is eagerly
sought.
The Western National Bank o f Philadelphia re­
cently declared a five per cent dividend. This institu­
tion is one o f the strongest and most conservatively
managed banks in the Quaker City. It has been se­
curing considerable western business o f late and is
well equipped to handle such accounts satisfactorily.
Julius S. Pomeroy has been elected Cashier of the
National Bank of North America o f Chicago. Mr.
Pomeroy for the last ten years has been connected
with the Eirst National Bank of Winona, Minn. He
was born in New York, and the record he marie with
the Minnesota institution was such as to make his se­
lection by the National Bank o f North America di­
rectors unanimous.
The combined Eirst National and Metropolitan,
of Chicago, is bevond ouestion the largest bank in Chi­
cago, and, in point of deposits, the largest in the coun­
try, with the exception of the National City of New


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Federal Reserve Bank of St. Louis

York.
The last published reports showed that the
two together had $99,799,894 deposits. The First
had $4,037,462 surplus and undivided profits and the
Metropolitan $1,626,288, a total of $5,663,750. The
combined loans were nearly $60,000,000, and the
combined cash resources $44,000,000. Besides the
three directors, E. G. Keith, W. J. Watson and A. C.
Bartlett, H. H. Hitchcock, Cashier, and Edward
Dickinson, Assistant Cashier, of the Metropolitan,
have gone over to the First in official capacities. Mr.
Hitchcock will go as Third Vice President and Mr.
Dickinson as Assistant Cashier. The employes of the
Metropolitan who have not found positions elsewhere
are also taken over to the Eirst.
Solva Brintnall, one of the early pioneers of Chi­
cago and until two years ago President of the Drovers’
National Bank, died recently. Mr. Brintnall was 85
years of age. He leaves two children, a daughter, and
William II. Brintnall, who succeeded his father as
President of the Drovers’ National Bank in 1900.
H e began a business career early in life as a contractor
on the construction of the New York Central Railroad
when the work was completed no farther than
Schenectady. H e followed this line-of business until
1846, when he embarked in the hardware business for
himself in western New York. It was the extension
of these interests that brought him to Chicago in 1863,
when he became head of the wholesale firm of Brint­
nall, Terry & Bel den, and afterwards Brintnall, Lamb
& Co.
It was in the latter part of 1883
that he and his son organized the Drovers’ National
Bank at the stockyards, of which he remained presi­
dent for seventeen years. Successful in his business
and financial undertakings, Mr. Brintnall very early
became a strong factor in social and church work, and
all his life was a most charitable man, highly hon­
ored by all who knew him and recognized as of sterling
honesty and uprightness. H e was a patriot, like his
long line of ancestors, and of tried loyalty to the coun­
try at u time when that virtue was most highly prized.

THE

July, 1902.

NORTHW ESTERN

BANKER.

35

WHOLESALE LAND SNAPS
— SOWA M E N A N D M I N N E S O T A
W e a r e t h e ow ner s of 4 0 0 , 0 0 0 ac re s.

D IR T

N o t Age n t s .

The attention of investors and syndicates is called to the following blocks of land
situate in the famous Park Regien of north central Minnesota, which can be had at prices
and terms to yield a big profit for colonization purposes:
Itasca county.......
Carlton county.. . . . . . 15,000 acres
....... 10,000 “
5,000 “
Aitkin
“
... . . . .
U
■ ..
7,000 “
..*..30,000 “
u
Cass
“
....... ....... 5,000 “
. . . 10,000
“
....... 50,000 “
...40,000 “
Crow W ing“
....... ....... 10,000 “
...16,000 “
Wadena
“
....... ............. 7,000 “
“
Itasca
“
. . . . ...10,000
We sold 200,000 acres in the past six months and the demand is better now than ever.
We are prepared to suit actual settlers in tracts of any desired size at low figures and easy
terms. Our maps, price lists and full particulars sent anywhere on application.
66

66

66

66

66

a

u

66

66

u

u

u

M IN N E S O T A FA R M
J. A. F E L T H O U S , Pres.

St. Paul, M inn.

LAND C O M P A N Y

CEO. W , BR ETT, V ic e -P re s .
P res. Io w a S t a t e B a n k , M a s o n City, I o w a

C. H. M c N I D E R , T rea s.
Pre s. First N a t. B a n k , M a s o n City, Io w a

M I N N E S O T A L A N D C O R P O R A T IO N
J. A. F E L T H O U S , Pres.
St. P a u l, IVlinn.

C. A. C O S G R O V E ,
L ate Asst. S u p t . C., M . &. St. P. Ry.
Address: 3 0 8 - 3 1 0 - 3 1 2 E n d ic o tt Bldg., ST. P A U L , M I N N .

A BANKING LAND COMPANY.

W e desire to call especial attention to the adver­
tisement of the Minnesota Farm Land Company of
St. Panl, Minn., which appears elsewhere in this
issue. Bankers of the Northwest will be particularly
interested because of the well known members of that
fraternity who are the principal officers of the land
company and also because of the splendid opportuni­
ties presented for the handling of large bodies of land
at a great profit.
J. A. Felthous, President of the Minnesota Farm
Land Company, was formerly President of the Com­
mercial Savings Bank of Mason City, Iowa, and also
until recently operated a line of elevators in North­
ern Iowa. Geo. W. Brett, Vice President, and C. 11
McNider, Treasurer, of the company, are hank­
ers so well known both in Minnesota and Iowa that
they need no introduction.
On November 1st, 1901, this company bought large
tracts'of land aggregating about 400,000 acres. Buy­
ing in such large quantities, and last fall before the
great advance in price, they secured phenomenal bar­
gains and are wholesaling their lands to bankers and
capitalists at so low a price that the purchaser can sell
it out at retail at a large profit. H alf of the land has
already been sold and from present appearances the
balance will be sold by the end of the year.


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

C. H. M c N I D E R ,
M a s o n City, I o w a

The company offers, exceptional opportunities to
capitalists who desire to secure desirable farm lands
that can be resold within a few months at a large
profit. They invite correspondence.
T H E TW O BEST IN ONE.
People who formerly considered the Chicago Rec­
ord to be America’s model daffy or who believed the
( Chicago Times- II erald to be premier among Ameri­
can newspapers now have ah opportunity of judging
every day how remarkably complete and excellent in
every department is that great metropolitan daily,
The Chicago Record-Herald, which combines “ the
two best in one.” All the pcpular features of both
The Chicago Record and the; The Chicago TimesHerald are included in the Chicago-RecordTTerald.
In the Sunday issues especially the great advantages
of the combination and world-wide facilities of the
two papers united in the combination are made mani­
fest. The world’s news-is covered with unexampled
fullness, due to the fact- that never before in the his­
tory of journalism did an American newspaper possess
news facilities so varied and extensive.

FOR THE FOURTH OF JULY
The Iowa Central Railroad w 11 sell excursion tickets
to points within 200 miles at a rate of one and onethird fare; tickets on sale July 3 and 4 ; limit July 7.
Apply to local ticket agent for further information.

TH E NORTHW ESTERN BAN KER.

36

SOUTHWESTERN REAL ESTATE

W e desire to commend investors to the real estate
firms who advertise in this journal. They have all
been highly recommended by local banks.
There is more money percapita in the state of South
Dakota than in any other state in the union. There is
about $25,000,000 on deposit in the banks in South
Dakota at this time.
Barnes county, ISTortli Dakota, seems to be the
destination of many homeseekers. Situated close to
the Minnesota line and the Red River Valley, it is one
of the best and most reliable counties in the state.
The Red River Valley lands continue
many buyers and it is expected that prices
a heavy advance as soon as the farmers of
Illinois get their crops out of the way and
look at the country.

to attract
will have
Iowa and
can go to

Daverport (Iow a Democrat:' The sale of a I arm
near Red'Oak at the price of $112.20 an acre sounds
as though Scott county values had invaded the western
part of the state, but that hardly has come to pass yet.
There are two good dwellings, one of them a fine resi­
dence, and two large barns on the place reported sold
at that price.
Prof. D. Bertram Cropp will locate in Mitchell,
S. D., for the summer and states that he has secured
an office where he will carry on a real estate and in­
surance business. Mr. Cropp says lie has secured the
services o f a quartet of University students who will
go back to points in Iowa, Illinois and Wisconsin and
bring out landseekers.
Ed. Pierce is the Sheldon banker who has blos­
somed out within the past few years as an immigration
boomer without an equal in the Northwest. Mr.
Pierce has been instrumental in bringing into the state
a large number of new settlers from Iowa and other
states, and the population of Rcmsen and other coun­
ties down his way have been very materially increased
through his efforts, is himself a state senator, and has
been mentioned for congressional honors. H e is one
of the able men o f the state.— Fargo Exchange.
A member of our force was recently at St. Paul
and Minneapolis and was greatly surprised at the large
number o f land seekers seen on the streets and about
the depots, all bound for the Northwest. The move­
ment of landseekers is already assuming enormous
proportions and it is predicted that the railroads will
have to largely increase their capacity to take care cf
the rush when the season has fairly opened.
Conditions in North and South Dakota are most
favorable for splendid crops and a continuation of
the extraordinary influx of settlers that have been
pouring into these states during the last two years.
Indeed, the indications are that this summer and fall
there will be a much larger number of land buyers
and settlers than ever before. Now is the time to
make investments in these states before the full tide
of land seekers is on and prices are advanced thereby.


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

July, 1902.

The Minnesota bankers at their recent convention
were given, an opportunity to see something of the
magnificent development in farm properties in north­
western Minnesota. Northwestern bankers, as a rule,
are heavily interested in its real estate, especially
farm properties.
The farms of North Dakota number 45,332, valued
at $198,780,700, of which 13 per cent represents the
value of buildings and 87 per cent the land and im­
provements other than buildings. The value of farm
implements and machinery was $14,055,500 and live
stock $42,430,491, making the total value of farm
property $255,266,751.
The total value of farm
products for 1899 was $64,252,494, of which amount
16 per cent represents the value of animal products
and 84 per cent the crops, including forest products
cut or produced on the farms. The total value of
farm products for 1899 is approximately three times
that for 1899, partly due to a more detailed enumera­
tion in 1900.
Stuart (Iow a) Herald: Wednesday Peter Henney
sold his farm of 230 acres adjoining the city limits
on the south to William Ridden.
T he price paid
was $100 per acre. This we believe is the high water
mark in farm values in this vicinity. But Mr. Hen­
ney had a splendid farm, every foot is plow land, with
a large new house, barn and outbuildings. Mr. Hen­
ney a few years ago paid $65 an acre for the same
land. Mr. Ridden, who now owns and occupies the
old O. P. Bissell farm, has been offered $100 an acre
for that farm, but refuses to sell.
Muscatine (Iow a) Journal: One of the Journal’s
correspondents tells today of the sale of the William
Doran estate of 80 acres five miles southeast of Wilton
for $110 per acre. When one can call to mind old
residents who can remember when the same land
could be bought for little more than a hundredth part
of this price, the progress the country has made seems
marvelous.
It is a pleasure to occasionally note the success of
some man who by sheer force of character and hard
work has won his way to the top. Such a man is W al­
ter J. Driscoll, Superintendent of the Manufacturing
Department of the Pioneer Press Company, St, Paul,
Minn. Mr. Driscoll began with this company as a
boy and although but 34 years of age he has mastered
every branch of the business and has earned, by prac­
tical and successfol experience in every department,
the position he now holds— superintendent of the en­
tire plant. Verily this is an age of. young men.
Directors of the National Bank of North America
have chosen Julius S. Pomery to be Cashier of the
new bank. Mr. Pomeroy has been connected with
the First National Bank of Winona, Minn., for the
last ten years. His banking capacity was well appre­
ciated by President Perry. Only two executive of­
ficers have been elected thus far for North America,
the President and the Cashier.

THE

July, 1902.

NORTHW ESTERN BAN KER.

37

Special List of Real Estate Firms
W / E have

L a n d s
a n d

H

o f

C o r n

o g s

”

250,000 acres of Red River Valley

land for sale on easy terms in Polk, Marshall,

and Kittson counties.

: : : : :

W e c a i always furnish first

class first mortgage loans at six per cent interest.
Special prices made to investors on lands
in Aurora, Hand, Faulk and Edmund
counties, South D a k o t a ...................Write

For excursion rates and further particulars, call on
or address

I O W A
SH U M W A Y St T H 0 M A S
Plankinton, South Dakota

111 y

r \ , s th e B a s 's
L / l n l /
o f all W e a lt h

Madison, S . Dak.

F IR S T

a

6

p e r

Only A b s tr a c t Books in C o u n ty

First Class Farms a Specialty

W O O D

L ,a w

R E A L
and

PERSONAL INSPECTION OF EVERY LOAN

FARMS FOR SALE CHEAP
T H O S . A. C U R T IS ,

-

-

I w ill fin d th e o p p o r t u n i t y
W e

w ill d iv id e th e p r o fit s

Real Estate bought and sold ^Abstracts and choice loans

Send for List N.

T H O M P S O N
E

IN------------------ -

S

T

A

T

E

B R O O K IN G S , S. D.
No section in the West offers safer and better inducements
to the Home eeker and Investot than Brookings County,
South Dakota. For particulars, write

WOOD THOMPSON, Brookings, S. D.

L isbon, N. D.

H a v e Y o u M o n e y to In v est?

S o u th D a ko ta

Choice City Property

-------------------------------- DEALEB,

S o u th e a ste rn N o rth D a k o t a
Y e a rs
A c tiv e
R eal E s ta te

CLARK

Successors to . C ark County Abstract
Company
Established . 882

c e n t M ° ? £ ? s A G E

S e v e n te e n

Farm Lands and
Ranches-^*
st
Mortgage Loans.
All Real Estate
Business Attended
To^t
&S &

A b s tra cto r of T itle s
o f C lark C o u n ty

KENNEDY

P r e s id e n t M a d iso n S ta t e B a n k

O F F IC E

W . A. S H A R P

If you have some idle money why not put it in
E A S T E R N S O U T H D A K O T A L A N D , which is
equally as good as Iowa, and is sure to double in
value.
For map, list and descriptions address

GHAS B

L A N D

O f J O H N H. B O Y D
C ro o k s to n , M i n n .

W IL D

AND

IM P R O V E D

LANDS

------------------ F O R S A L E
1IN T H E R E D R I V E R V A. 1. E E Y
That will produce a good rate of interest on the investment
each year.
Cass County, North Dakota, has not been
boomed. Values are not fluctuating.
Write us for free maps and descriptive lists.

E L L S W O R T H & JENKINS
C. D. TIDRICK
U. S. Commissioner

Fargo Nat. Bank Bldg.

F A R G O , N. D.

CHAMBERLAIN, S. DAK.

W A N T E D - DAKOTA

REAL

ESTATE

If you have any Farm Property for sale in either North or South Dakota, please communicate with me
giving exact description, price, and terms of sale. Address,
G E O R G E G R A N T , B o x 1059,
Bank References Furnished.

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

-^e s M o in e s , I o w a

THE

38

NORTHW ESTERN BAN KER.

July, 1902.

The Land of Big Red Clover ° U R S P E C I A L T Y
I 0 0 , 0 0 0 acres of rich f a r m la n d s , s it u a t e d h a l f
w ay b e tw e e n St. P au l a n d M i n n e a p o l is , a n d
D u l u t h a n d S u p e rio r , t h e g re a te s t m a r k e t s in
th e northw est.
: : : : : : : : :

Unsurpassed for the production of grasses of all kinds—
timothy and clover growing wild. Drouths and hot winds
are unknown on account of the numerous lakes and streams
for which the district is noted. Hardwood timber for fuel
and building purposes. Rich clay loam with clay sub-soil
specially adopted for all kinds of grains and vegetables
Write for descriptive maps and prices, to

IS F A R M L A N D S
TIM BER
LANDS
""“ S T O C K R A N C H E S
We are owners, not agents 200 000 acres
of fine lands for investors and settlers.
Write for maps and propositions.

BUBCHABD HULBUBT INVESTMENT CO.
7 0 5 -7 0 8

M . E. R U T H E R F O R D & C O ., M o ra , M i n n .
THOS. A WAY,
Mason City, la.

C E STEVENS,
Crookston, Minn.

FR ED G. W ELLS,
Grand Forks, N. D.

The C. E. Stevens Land Company
Grand Forks: --

=INorth Dakota

(in c o r p o r a t e d )
PAID UP CAPITAL, $100,000.00

Buys and Sells Land in the Red R-iver Valley in Minne­
sota and North Dakota.
We have a large list of wild and improved lands in Polk
County, Minnesota, and Grand Forks County, North Dakota.
Write for Circulars and Lists.

F. A. REYNOLDS,
KIMHALl., SOUTH DAKOTA.

M A N H A TT T A N

B U IL D IN G

ST. P A U L , M I N N . ---------

Red River Valley
Land For Sale
We have 20 000 acres of choice improved
land for sale in the vicinity of Larimore,
in Grand Forks County, N Dak , at $15 00
to $30 00 per acre We can se 1 in quarter
sections or in 5 000 to 10 010 acre blocks.
I f you are interested write us what \ou
want, and we will send you maps and
prices.

The Elk Valley Bank
L a r i m o r e , No. D a k .

Real Estate=

— Farm Lands

Splendid Opportunities ior Investors

Dealer in

Deputy Cass County Surveyor

Tint South Dakota Hands
Special Deals in Stock Ranches one -half Sections
and Separate Tracts.

Correspondence and

SOUTH DAKOTA

LLWOOD LAND COMPANY
St. Paul, IVlIriri.

Corner Sixth and Jackson Streets
-----T H E -

and

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

Credit Association)

( in c o r p o r a t e d ,)

OF REDF1ELD, S.

D.,

Will buy your lands or sell you lands in Spink, Vane
or Faulk counties, S. D. Will look after renting of
your lands, and see that your taxes are paid. Selling
price of lands, from $10 to $30 per acre.

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

W .

H.

STAPLES.

-

P O O R E
-

M IN N E S O T A

Personal Interviews Invited.

We are operating extensively in the northeastern portion of South
Dakota, and are reasonably certain we can suit you if you are looking for an
investment for a home or a speculation. Lands will advance from 50 to 100
per cent by thi3 fall, and you should take advantage of this fact now.
The CREAM ERY and DAIRV business has increased 1,000 per cent
in the last seven years, and South Dakota produced more wealth than any
other State in the Union the past three years in succession.
The HIGHEST GEN ERAL CROP AVERAGE for the year 1901 of
any State was awarded to South Dakota.
The above statements are correct and are taken from the report of the
United States Secretary of Agriculture, Hon. J. T. Wilson of Iowa.
W E HAVE POP SALE
Many improved farms and thousands of acres of prairie lands in South
Dakota at low prices, and on easy terms W e have branch offices at
ABERDEEN , FR ED E R IC K and HECLA, all in Brown county; and
N O RTH VILLE, Spink county, S. D ; and at ELLE N D A LE , Dickey
county, and RUGBY, Pierce county, N. D. Also at RED L A K E B'ALLS,
Red Lake county, and M ONTICELLO, Wright county, Minn.
Write for maps, excursion rates and prices.
Good soliciting Agents wanted. Address

N at'l Land

Conveyancing

2 0 0 , 0 0 0 Acresi t ™ . l ands
BOSTON &

DULUTH FARM LAND

OF D U L U T H ,

GO.

M IN N .

Situated in Carlton and St. Louis counties.
These lands are traversed
by the Northern Pacffi:, Great Njrthern, Duluth, Mesabe & Northern and
the Duluth & Iron Range Railtoads and a-e directly tributary to the markets
of Duiuth and Superior, and only a few miles from these fast growing cities.
Prices range from $4.00 to $6.50 per acre, easy terms. A liberal dis­
count from prices where large tracts are taken. For full information, write
for maps, circulars, e tc., to

Boston & D u lu th F a rm Land C o m p a n y ,
4 3 0 W e s t S u p e rio r , D U L U T H , M I N N .
Please mention this paper when you wUte.

T H E R E D R iV E R V A L L E Y
Land Company
=
Crookston, Minn., report the sale of the 24,000 acres west of
Winnepeg, advertised in May issue.
They now offer the following very attractive bunch of fine
improved farms, all well located, and rented on basis of
one-third crop on the land plowed. The majority of the
farms have excellent blue grass pasture, nicely fenced. The
soil is a rich vegetable mould; overlying a clay sub-soil. Sur­
face is a fine undulating prairie, having natural drainage.
The water supply is excellent.
There are about 5,000 acres
in the lot, and is one of the best investments in the entire
Northwest.
Price $15,00 per acre You will not be
disappointed in this land Call on or write to

RED RIVER LAND CO,, Crookston, Minn.

July, 1902

THE

NORTHW ESTERN

BANKS, SAFES AND FIXTURES FOR SALE-POSITIONS
[Reading locals in this column will be printed at a cost of 50c. a line
for first insertion: 25c. a line for subsequent insertions.]

F or S a l e — In South Dakota, in Faulk county 160

acres; in H yd e county 320 acres. These lands are
owned by a non resident and will be sold cheap.
Address, H, care of N o r t h w e s t e r n B a n k e r .
P o s it i o n W a n t e d — Employment in a bank as
Cashier or Assistant. Have had 10 years exp eri­
ence in the banking and real estate business. Want
to get in some live town
Can invest $1000.00 if
necessary.
A m ycung married man.
Can talk
German. Best of references furnished. Address
L. F. K. care Northwestern Banker.
W a n t e d — General work in a bank by an experi­
enced and trustworthy young man. Reference, pres­
ent employer. Address W. A . C , care N o r t h w e s t ­
ern

B anker.

W a n t e d — A ctive interest in good western bank.
Also, stock in few good country banks.
Iowa pre­
ferred. Address, W. S., care N o r t h w e s t e r n B a n k e r .
W a n t e d — Position as cashier, assistant cashier or
bookkeeper, by man of experience. Address, “ W .,”
care of N o r t h w e s t e r n B a n k e r .
W a n t e d — Position as cashier or assistant cash er
by man of experience Reference, present employer.
Address J. L., care N o r t h w e s t e r n B a n k e r .

A banker of means and experience wants to buy
all or a controlling interest in a good western bank.
Address R. H., care of N o r t h w e s t e r n B a n k e r .
G ood O pe n in g s — We have two good openings in
South Dakota for banks. One for German and one
for American. $5,000 will swing either one. Address
the Editor of this Journal.
W a n t e d — Position as Cashier and Bank Stock in
Iowa or Minnesota. Address, R. D. H., care of
N orthwestern B a n k e r .
W a n t e d — To purchase all or controlling interest
in country bank in Northwestern Iowa or South­
western Minnesota.
Address, R. E. C , care of
N orthwestern B a n k e r .
W a n t e d — A small sized, second hand, steel, bur­
glar proof safe with time lock. Must be in A 1 con­
dition.
Address, “ Banker,” care N o r t h w e s t e r n
B anker.
W a n t e d — Position as Cashier or Assistant. Firstclass references; presently employed; speaks Ger­
man; married and experienced. Addres:, A. C. B ,
care N o r t h w e s t e r n B a n k e r .
W a n t e d — Young, experienced Cashier with $3,000
or more to take the Cashiership in bank of Western
Iowa town. German preferred. Address, A., care
of N o r t h w e s t e r n B a n k e r .
T or S a l e — B m k stock in a clean and prosperous
country bank in Western Iowa, together with resi­
dence of the cashier.’ A good paying and perma
nent position for a capable and acceptable party.
Address, “ D ,” care of N o r t h w e s t e r n B a n k e r .

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

BANKER.

39

W a n t e d . — A n experienced stenographer who
can also keep books. Address P. Ü. B ox 1059.
State age, experience, salary expected, and give
references.
IOWA BANK FOR SALE.

A successful savings bank in one of Iowa’s large
cities can be bought. Capital, $50,000. . Bank is
growing rapidly and pays a good dividend regularly.
A majority of the stock can be bought of managing
officer. Satisfactory reasons for selling. Stock is
worth about 200. It will take about $50,000 to han­
dle the deal. Please do not investigate unless you
want an opportunity of this kind and can invest this
amount of money. Address “ Savings Bank,” care
of N o rth w ester n B a n k e r , Des Moines, Iowa.
The banks have caught the building boom and are
improving the fat years by enlarging their store­
houses and bettering their equipments and facilities
for the protection and handling of the people’s money.
Not less than 100 Iowa banks are today either con­
structing new bank buildings or reconstructing and
enlarging the old, and the same conditions are shown
in Minnesota and other nothern states.
The bankers of the West with surprising unanimity
expressed themselves as opposed to the Fowler Bank­
ing Bilk Whatever may b 3 the weaknesses of our
present system, and they arc acknowledged on every
side, the country is not ready for such sweeping
changes as were contemplated in the proposed bill.
The western bankers prefer to remain at the head of
their small banking instituions rather than act as
clerks or local managers for some central organization.
In the present state of progress throughout the West,
with the constantly and rapidly changing conditions
no system of banking could better meet the require­
ments of the situation better than the present. There
constantly arise local conditions which can not at pres­
ent be covered by any general rules, but which the lo­
cal banker, with his intimate knowledge of the cus­
tomer and conditions surrounding him, can handle suc­
cessfully. The branch banking system, if adopted,
would seriously check the bank development of the
Northwest and consequently the general business de­
velopment as well. While the country, at present,
does not seem to be ready for asset currency, yet it is
conceded that some innovât: on along this line is badly
needed. Great reforms move slowly, and though no
definite results are yet apparent from the recent dis­
cussion of Branch Banking” and “ Asset Currency”
yet it will in time lead to t ie adoption of more scien­
tific and modern methods of banking.
H O M E S E E K E R S ’ E X C U R S IO N S .
Homeseekers’ tickets to nearly all points on sale at
low rates by Chicago G rea: Western Railway on first
and third Tuesdays of each month, June to October
inclusive. For further particulars apply to W. IF
Long, City Ticket Agent, Cor. Fifth and Walnut Sts.,
Des Moines, Iowa.

40

TH E

NORTHW ESTERN

N E W S L E E P IN G C A R S E R V IC E TO ST. P A U L
A N D M IN N E A P O L IS .
Travelers to the Twin Cities and the Northwest
should note the new fast service and low rates offered
by the Iowa Central Railway through train of sleep­
ing cars and coaches on the “ Limited^ arriving in
Minneapolis at 8 a. in.
9
R E C O M M E N D E D TO T R A V E L E R S .
The Iowa Central Railway’s new sleeping car ser­
vice from St. Paul and Minneapolis to Kansas City,
St. Louis and Peoria appeals to travelers seeking quick
time and conveniences.
9
N A T IO N A L Y. P. C. U. C O N V E N T IO N , P O R T ­
L A N D , M E., J U L Y 9-16, 1902.
For this annual meeting the Chicago Great West­
ern Railway will on July 4.-8 sell through excursion
tickets to Portland, good to return July 17th (or Au­
gust 15th, by payment of 50c extra) at one fare for
the round trip. For further information apply to W.
LI. Long, city ticket agent, corner Fifth and Walnut
streets, Des Moines, Iowa.
B A P T IS T Y O U N G P E O P L E ’ S U N IO N , P R O V I­
D E N C E , R. I., J U L Y 10-13, 1902.
For this annual convention the Chicago Great
Western Railway will on July 6-8 sell through ex­
cursion tickets to Providence, good to return July 15
(or August 15, by payment of $50 cents extra) at one
fare for the round trip. For further information ap­
ply to W. II. Long, city ticket agent, corner Fifth and
Walnut streets, Des Moines, Iowa.
M A R S H A L L T O W N C A R N IV A L , JU N E 30JU L Y 5, 1902.
For this annual Carnival thè Chicago Great West­
ern Railway will on June 30th to July 5th, sell excur­
sion tickets to Marshalltown, Iowa, good to return
July 6tli at a fare and one-third for the round trip.
For further information apply to W. II. Long, City
Ticket Agent, Cor. Fifth and Walnut Sts., Des
Moines. Iowa.
LO W

SU M M E R R A T E S V I A C H IC A G O
G R E A T W E S E R N R A IL W A Y
To Colorado and Utah, during June, July August and
September, with stop-over privileges. For particulars
inquire of W. II. Long, City Ticket Agent, Cor. Fifth
and Walnut Sts., Des Moines, Iowa.
10
F O R T H E G R E A T N. E. A. M E E T IN G
At Minneapolis,.Minn., July 7-11, the Iowa Central
Railway will sell tickets at greatly reduced rates; tick­
ets on sale July 5, 6 and 7 ; good to return until Sept.
1. This will be a fine opportunity to hear the great­
est educators in our country. For further particulars
call on local ticket agent.
LOW ROUND TRIP SUMMER RATES.
Via Chicago Western Railway to St. Paul, Minneap­
olis, the Twin Valley Lakes, Duluth and the Superiors’.
Tickets good to return October- 31st. For date» of sale
and other information apply to W. LL Long, City Ticket
Agent, Cor. Fifth and Walnut Sts., Des Moines, Iowa. It


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

BANKER.

July, 1902.

INTEREST TABLES FOR BANKS.
We have received a copy of the Baker-Vawter Interest
Tables for Banks. The tables compiled by this firm are
conveniently arranged and absolutely reliable.
They
show at a g'lance the interest on amounts from $1 to
$10,000— one day to five years.— 2 per cent up. There are
60,000 computations whose
accuracy is vouched or.
Bound in cloth, 128 pages, sells regularly for $1.50, but
the publishers have made a special price to banks of
75 cents. The Baker-Vawter Company, Chicago, or Atch­
ison, Kan.
WHY NOT GO WEST?
Special summer excursion rates from all points on
the Iowa Central railway to Denver, Colorado Springs,
Pueblo, Salt Lake City, Ogden and Hot Springs, Deadwood, Lead and Custer, in the Black Hills, S. D. On June
22 to 24, July 1 to 13, Aug. 1 to 14, 23/, 24, 30 and 31 and
September 1 to 10, a special law rate of less than one
way fare for round trip is offered to above points. On
June 1 to 21, 25 to 30, July 14 to 31, Aug. 15 to 22, 25 to
29 and September 11 to 15, a special low rate of one fare
plus $2 for round trip to above points is offered. Stop­
overs will be granted and final limit of tickets is October
31, 1902. For further information call on local ticket
agents or address A. B. Cutts, G. P. & T. A., Minneapolis,
Minn.
10-x

TEACHERS AND STUDENTS
planning to attend the great arnual meeting of the National
Educational Association at Minneapolis, July 7-11, next, will
certainly find it to their advantage to buy their tickets over
the Minneapolis & St. Louis Railway. This road has been
selected as the official route for teachers from this section of
the state. It is the short and direct route and the service is
up-to-date. A special low rate fare for round trip is effective
and the payment of fifty cents extends limit on its t ck e s to
September 1, next. Full information furnished by writing to
Z. C. T h o r n b u r g , County Superintendent, 502 Younger
man Building, Des Moines, Iowa.

W h y N ot
T a k e t h e S h o r t L in e
S i n c e it i s t h e B e s t L i n e
For the great National Educational meeting at
Minneapolis, July 7-11, next, the Minneapolis & St.
Louis having been selected as the official route, will
carry you almost as straight as the crow flies and
will make the trip quick, pleasant, and a happy and
auspicious start. The very low rate of one fare for
round trip plus $2 is effective, and 50 cents paid
secures extension of your ticket to September 1,
next. For further information address,

Z. C. T H O R N B U R G ,
COUNTY SUPERINTENDENT,

502 Youngerman Bldg ,

Des Moines, la.

Yellowstone
P a rk
has been the scene of great improvement within recent years.
The roads have been shortened, resurfaced, grades much
reduced, new, concrete bridges built, and sprinkling carts
introduced. The old hotels have been repainted, repaired
and enlarged, a new one has been erected at Norris geyser
basin overlooking the geysers, a tent hotel camp has been
established at the Upper geyser basin near Old Faithful
geyser, and the Government has put in a new system of water
works and reservoirs at Mammouth Hot Springs.
The NORTHERN PACIFIC, the railway that runs direct
to the park line, tells all about the Park, the geysers, and
the wild animals found there and which are such a source of
pleasure to all tourists, in ‘ ‘Wonderland 1902,” ’ a finely illus­
trated book sent by Chas. S. Fee, General Passenger Agent,
St. Paul, Minn., to any address upon receipt of six cents to
pay postage.

THE NORTHWESTERN BANKER,

July, 1902.

4i

S P E C IA L LIST O F IO W A

BANKS.

A L P H A B E T I C A L L Y A R R A N G E D BY T O W N S .

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

I First National Bauk.

ALGONA,

Capital, I50.0G0 00.
I Surplus 110,000.00.
Kossuth County.. . . . . . ( Ambrose A. Call, President.
I D. H. Hutchins, Vice-President.
I Wm. K. Ferguson, Cashier.
Oldest National Bank in
\ C. A. Palmer, Assistant Cashier,
Kossuth County.
all
business
entrusted to us.
Prompt attention paid to

CASEY,

|Farmers Bank.
I

Guthrie County
Real Estate Loans.

|S. Lincoln Rutt, Cashier.
I Individual Responsibility of over $100,000.

Collections receive prompt attention.

Surplus, 810,000.
‘
S. McElhinny,
President.
Only national bauk in JeffersonB.
county.
Does
a
general banking busiRollin
J.
W
Ison,
Vice-President.
ness. Prompt attention to collections.
Frank Light, Cashier.
S. L. Dana, Ass’ t Cashier.

All business given good attention.

Capital, $50,000.
Surplus $10,000. Undivided Profits, $1,500
W. T. Day,, President.
S. D. Willits, Vice-President.
,.C. T. Hansen,Cashier.
General banking business. Negotiators of choice Iowa farm loans.

IO W A FALLS.

Banking in all its branches.

CLINTON,

J. H Carlet jn, Vice-President.

Capital, $300,000.
Surplus and undivided profits, $100,000.
G. E . Lamb, President.
Charles F. Alden, Vice-President.
J. H. Ingwersen, Cashier.

Accounts of banks and bankers a specialty.

/Corning State Sayings Bank,

Capital, $50,000.
Surplus, $10,000.
Adams County ................
Profits, $3,100. Deposits, $265,000.
\ F. L. La Rue, President.
I E. A. Scholz, Vice-President.
\W. H. Clark, Cashier.
General banking business transacted. Farm loans a specialty.

CO RW ITH ,

I
)

r

First State Bank of

11

Corwith.

Capital, $50,000.

HailCOck County........ o. jj Stilson, President.
E. L. Stilson, Vice-President.
•
’ I J. H. Standring, Cashier.
t Ben.U. Standring, Ass’ t. Cashier.
A general banking and collection business transacted.

DAVENPORT;

KEOSAUQUA,

(Correspondence solicited.

/Keosauqiia State Bank.
Capital, 127,800.

' Undivide i Profits, $4,700.
Yan Buren County.. . . \H. H. Trim ale, President.

1J. N. Norton, Vice President.
\j, L. Therme, Cashier.

Cllections a special feature.

/Peoples Trust and Sayings Bank.

Clinton County

CORNING,

Capital. $53,000.
Surplus and Undivided Profits, $50,000.

VV. H. Wooc s, Cashier.
\'C.
H. Burlingame, Ass’t Cashier.
Collections promptly made.

Capital, $50,000.
Surplus and Undivided Profits, $51,000.
S. H. Mallory, President.
Joseph Braden, Vice-President.
F. R. Crocker Cashier.

First National Bank.

Hardin C ounty.............' E. S.Ellworta, President.

First National Bank.
Lucas County

Capital, $100,000.

|G. L. Tremi.in, President.
1W. W. Sterns, Cashier.

••

CHARITON,

[The Peoples Bank.
j

Humboldt County . <[ Surplus, $25,000 00.

The Castana Sayings Bank.

CASTANA,
Monona County

Jefferson County

HUMBOLDT,

Established, 1886.

----- . . .[ Abram Rutt. President and Owner.

National Bank.
¡ First
Capital, $ 00,000.

P S ,J ati"oo"lBa" kI

Surplus and Undivided Profits, $76,484.

Scott County ..................(A . Burdick. President.
j J. L. Dow, Vice-President.
General banking business
C. A. Mast, Cashier,
transacted.
\George Hoehn, Assistant Cashier.
The first National Bank in operation in the United States commenced
business June 28, 1863.

/ The Monticello State Bank.
Capital, *100,000.
Surplus, *100,000.
Jones County...............( S. S. Farw ill, President.
Frank M. Hicks, Vice-President.
H. M. Carpenter,Cashier,
i H. S, Richardson, Assistant Cashier.
Money to loan on Iowa farm lands.

MONTICELLO,

MARENGO,

( Marengo

Iowa County

Surplus, $10,000.
Conduct a general banking business.
M. W. Prompt
Stoker, attention
President.given to collections
J. N. W. Rumple, Vice-President.
MARSHALLTOWN.
Marshallt
own State
Bank.
A. M. Herderson,
Cashier.
Frank
Capital,
Cook,
$100,000.
Assistant Cashier.
Surplus
a
id
Profits,
$50,000.
Marshall County........
A. F. Balch, President.
Geo. A. Tu :ner, Vice-President
P. S. Balch, Cashier.
iC. C. Trine Ass’ t Cashier,
Prompt and careful attention given all business entrusted our care.

MT. PLEASANT,
Henry C ounty..

/F irst Nf.tional Bank.
Capital, $100,000.
J Surplus, $20,000.
\ T. J. Van Hon, President.
I W. E. Keeler, Cashier.
H. J. Twinting, Assistant Cashier.

Does a general banking business.

DECORAH,

!

Capital, $100,000.

MT. A YR ,
Ringgold County. . . .

Resopnsibility, $300,000.
The most careful attention givenC collections.
J. Weiser, President.
E. W. D. Holway, Cashier,
H. B. Hustvedt, Assistant Cashier.

/Forest City National Bank.

I Capital, $50,000.
» Surplus, $15,000.
I C. J. Thompson, President.
VG. S. Gilbertson, Cashier.
General banking business transacted.


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

Colteci ions attended to.

Winneshiek County Bank.

Winneshiek County...

FOREST CITY,
Winnebago County..

Sayings Bank.

Capital, *50.000.

A yr Banka

/ Responsibility $150,000.
\ Geo, S. Allyn, Cashier.
VJno. H. A lyn, Assistant Cashier.

General Banking business transacted. Fai m loans, real estate and abstracts

NEWTON,

{ First

National Bauk.

Capital, $50,000.

Jasper Coauty
SurplusCollections
and Undivided
Profits,
$20,000.
General banking business transacted,
receive
special
atten
Chester Sloanaker
President.
tion.
E. E. Lyday, Cashier.
Lee E. Brown, Assistant Cashier.

THE

42

NORTHW ESTERN

BANKER.

July, 1902.

S P E C IA L L IS T O P I O W A B A IR S -C o n t in u e d .

NEW HAMPTON,

( First National Bank.
I

Chickasaw County.

/

¡SPENCER,

C a p it a l, $50,000.
S u r p lu s ,$7,500.
A . E . B ig e lo w , P r e s id e n t.
J . W . S a n d u s k y , V ic e -P r e s id e n t.
T im . D o n o v a n , C a s h ie r .
G ra n t M . B ig e lo w , A s s ’ t C a sh ie r.

/The Citizens State Bank.

>Capital a u th o r iz e d , $50,000.
C a p it a l p a id up, $25,000. S u rp lu s , $1,000
F r a n k lin F lo e te , P r e s id e n t.
I A n d r e w R. S m ith , V ic e -P r e s id e n t.
V A c k le y H u b b a rd , C a sh ie r.
A ll b u s in e s s en tru s te d to o u r ca re c a r e fu lly an d p r o m p t ly t r a n s a c t e d .

Clay

I
County.......................... r

j

O n ly N a t io n a l B a n k in th e C o u n t y . A g e u e r a l h a n k in g b u s in e s s t r a n s ­
a c te d .

SIDNEY,
Fremont Connty

ONAW A,
( Holbrook & Bro.
Monona County ................ J E s ta b lis h e d 1858.
j
(

P . K . H o lb r o o k , C a sh ie r.
G e n e r a l B a n k in g B u s in e s s t r a n s a c t e d .

W e m a k e a s p e c ia lt y o f p r o m p tn e s s in fu r n is h in g a b s t r a c t s ,
g a g e s fo r sa le.

F a rm m o r -

( Fremont County

J. H. M c D o n a ld , P r e s id e n t .
S p e c ia l fa c ilit ie s fo r c o ll e c t io n s H.
. H . M c D o n a ld , C a sh ie r.

First National Bank.

STORM LAK E ,
Buena Vista County...

C a p ita l, $50,000. S u rp lu s, |10,000.
W . E. B r o w n . P re s id e n t.
L . J. M e tc a lf, V ic e -P r e s id e n t.
J . B . A le x a n d e r , C a sh ie r.

OSCEOLA,
/ Simmons & Co., Bankers.
Clarke County...............
1

O ne o f the s p e c ia l fe a tu re s o f th is b a n k is its c o ll e c t io n an d fa rm loan
d e p a rtm e n t.

C a p it a l, $55,000.

W e ow n a fu ll an d c o m p le t e set o f a b s t r a c t b o o k s fo r C la r k e C o u n ty .

/First National Bank.

TAM A,
Tama County.
OSKALOOSA,
„

,

.

Mauaska

Mahaska County State

„

C a p ita l, $100,000.
County.............-{
Su rplu s an d u n d iv id e d p ro fits, $32,000.
W . R. L a c e y , P r e s id e n t.
I H. S. H o w a r d , V ic e -P r e s id e n t .
1. J o h n R. B a rn e s, C a sh ie r.
C o lle c tio n s r e c e iv e s p e c ia l a t te n tio n .

'Oskaloosa National Bank.

OSKALOOSA,

C a p ita l, $50.000.
S u rp lu s and U n d iv id e d P r o fits , $44,000.
W . H. K a lb a c h , P re sid e n t.
H. L . S p e n ce r, V ic e -P r e s id e n t
^C. E . L o fla n d , C a sh ie r.
A g e n e r a l b a n k in g b u s in e s s tr a n s a c te d .

Mahaska County.

POCAHONTAS,
Pocahoutas C

f City Exchange Bank.
o u n t y . . . h|
I
^

C o lle c tio n s a s p e c ia lt y .

Red Oak National Bank.

Montgomery County.. .

G en era l b a n k in g b u s in e s s .

ROCK RAP ID S,

W ill D . M c E w e n , P re s id e n t.
H. C. D o y le , C ashier.
B a n k in g and R e a l E s ta te .

G e n e ra l b a n k in g b u s in e s s tr a n s a c te d .

RED OAK,

C a p ita l an d s u rp lu s , $250,000.
B n ^ c i a r k , P r e s id e n t.
I H . C. B in n s , V ic e -P r e s id e n t.
\ P a u l P. C la r k , C a sh ie r,

C o lle c tio n s r e c e iv e s p e c ia l a tt e n t io n .

County Bank.
{ Lyon
M il l e r & T hom pson .

/F irst National Bank,
C a p ita l, $50,000.
Su rp lu s and P ro fits, $25,000.
•i D. E . H a lle tt, P re s id e n t.
E . C riss, V ic e -P r e s id e n t.
H. H. A llis o n , C a sh ie r.
\ H. S. B a rn t, A s s is ta n t C a sh ier.

T r a n s a c t s a g e n e r a l b a n k in g b u s in e s s .


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

T . L , W illia m s o n , C a sh ie r.
D. E. G o o d e ll, A s s is ta n t C a sh ie r.
A g e n e r a l b a n k in g b u s in e s s tr a n s a c te d .

WATERLOO,
T»1

( The First National Bank.

1 n

.

C a p ita l, $150,000.
S u rp lu s, $2 5 . 000 .
I H. B . A lle n , P r e s id e n t.
1 F . J. E ig h m e y , C a sh ier.
M u n ic ip a l, c o u n t y a n d s c h o o l b o n d s b o u g h t a n d s o ld .
F a rm lo a n s n e g o tia te d at lo w e s t ra te s. P r o m p t s e r v ic e .

Blackhawk County-------

W A VER LY,

)

/Herman American Loan and Trust
Co.’ s Bank.

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

C a p ita l, $2 5 ,0 0 0 .
\
S u rp lu s, $15,000.
I W . C. H o lt, P r e s id e n t.
I J u lia n R u d d ic k , C a sh ie r.

A g e n e ra l b a n k in g b u s in e s s t r a n s a c t e d .

W APELLO,
/The Wapello State Sayings Bank.
Louisa County ................... / C a p it a l S to c k , $30.000. S u rp lu s, $6,000.
J

\ J o h n O tt o , P r e s id e n t.
I F . M. O n g , V ic e -P r e s id e n t,
t w . H. C o lt o n , C a sh ie r.
P r o m p t a t t e n t io n p a id to a ll b u s in e s s in tru s te d to us.

f
W EST UNION,
Fayette County.............1
O n ly N a tio n a l B a n k in C o u n ty ,
a tt e n t io n .

W IN TER SET,
Madison County

(O. P. M ille r, J. K . P . T h o m p s o n .)
I f y o u w a n t som e c h o i c e fa r m loCaanpsita
d l,
r a$100,000.
w in g 5 p e r c e n t , in te r e s t, w rite
us fo r d e s c r ip tio n s o f sa m e .
U n d iv id e d profits, $30,200.
M. A . C o x , C a sh ier.
F . B . P a rk e r, A s s is t a n t C a s h ie r.

Sac County...

J. L . B r a c k e n , P re s id e n t.

I

Lyon County..

SAC CITY,

C a p ita l, $50,000.
S u rp lu s, $50,000.

(

Bank.

,

D oes a g e n e ra l b a n k in g b u sin e ss.

Bank.

C a p ita l, $25,000.

Fayette County National Bank.
C a p it a l, $80,000.
S u rp lu s, $6,600.
S. B. Z e ig le r , P re s id e n t.
H . B. H o y t, V ic e -P r e s id e n t.
E . B. S h a w , C a sh ier.
C o lle c tio n s r e c e iv e c a r e fu l a n d p r o m p t

National
¡ First
C a p ita l, $50,000.

Bank.

S u rp lu s , $20,000.
G e n e ra l b a n k in g b u s in e s s tr a n s a
C.c te
D.d . B e v in g to n , P re s id e n t.
W . S. W h e d o n , C a sh ie r.

July, 1902.

TH E NORTHW ESTERN BANKER.

43

S P E C IA L LIST O F M IN N E S O T A B A N K S .
A L P H A B E T I C A L L Y A R R A N G E D BY T O W N S .

Showing Name o f Bank, Town and County, Capital, Surplus and Undivided Profits, Names o f Officers, and Special
Facilities fo r the Transaction o f Business instrusted to their care.
GLENCOE,
McLeod County

I

Bank of Glencoe.

REDWOOD FALLS,

C a p ita l, 850,000.

A u th o riz e d C a p ita l, $50,000.
P a id U p C a p ita l, $25,000.
S u rp lu s , $4,000,
A. C. B u rm eister, P re s id e n t.
H. D. B a ld w in , V ic e -P r e s id e n t.
, H. A . B a ld w in , C a h ie r.
O, W . M c M illa n , A s s ’ t C a sh ier.
G en eral b a n k in g b u s in e s s tr a n s a c te d .

Redwood County..

S u rp lu s, $10.000.
G. K. G ilb e r t, P re s id e n t.
A. J. S n y der, V ic e -P r e s id e n t,
. W . G ilb eState
rt, C a shBank.
ier.
MONTEVIDEO,
(L
Citizens
C a l,
rso$30,000.
n , A s s is t a n t C a s h ie r.
.*
I E.CH.
a p ita
Chippewa County. . - . . . ( F aDeposits
rm lo a n s and
a s p Profits,
e c ia lt y . *140.000,
1 E s ta b lis h e d 1879 In c o r p o r a t e d 1895
I C. D. G riffith , P r e s id e n t.
V M. E. T itu s , C a sh ie r.
W e c a n fu r n is h first m o r tg a g e fa rm lo a n s ru n n in g five y e a rs , in te re s t F I V E
per cen t. I o w a an d W is c o n s in in v e s to r s w rite u s.

B a n k in g b u sin ess tr a n s a c te d .

/First National Bank.

R E P R E S E N T A T IV E IO W A L A W Y E R S .
DAVENPORT,

Scott C ou n ty..................... J
A g e n e r a l la w b u s in e s s .

HARLAN,

( Heinz & Fisher.

Culliscu & Robinson.

Shelby County

R e fe r e n c e :
J
A n y D aven port ban k.

R e fe r s F ir s t N a t io n a l B a n k , H a rla n .
L a w in a ll its b ra n ch e s w ith s p e c ia l a t ­
t e n t io n to c o m m e r c ia l an d b a n k in g la w

R e a l e s ta te m o r tg a g e e b o u g h t an d s o ld .

MASON C ITY,
DES MOINES,

( Chas. L . Powel.

} R e fe r e n c e s :
Polk County, ........................ < D es M oin es N a t io n a l B a n k .
j
G u th rie C o. N a tio n a l B a n k , P a n o r a , l a .
(
G eo. M. R e y n o ld s , c a s h ie r C o n tin e n ta l
N a tio n a l B a n k , C h ic a g o ,
S p e c ia l a t t e n t io n g iv e n to c o m m e r c ia l b u sin e ss, an d c o lle c t io n s .

FA IR FIE LD ,

Jefferson County...........J
)

G e n e ra l A tto r n e y .
R e fe r s to a n y b a n k in c o u n t y .

P a r c t ic e in a ll c o u r ts .


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

AG EN TS WANTED
Lawn Swings and Settees, Hammock
Chairs, Camp Chairs and Stools,
ironing Tables, Wash Benches, Etc.
Agents easily make

S5

to

( J. F. & W . R . Lacey.

Mahaska County ......... J Reference:

1 m a k e a s p e c ia l fe a tu r e o f C o m m e r c ia l and B a n k in g L a w .

THE BEST
LAWN
SWING
MADE

Keeler

j
C it y N a t io n a l B a n k .
{ I o w a N a t io n a l B a n k .
S p e c ia l a t t e n t io n to c o m m e r c ia l law .

OSKALOOSA,

( Rollin J . W ilson.

( Cliggitt, Rule *

Cerro Gordo County .

S 10 P er D ay.

W ill furnish samples at re­
duced prices to those desiring
agency. Exclusive territory
given. Address,

ClearfieldW
ooden-W
are Co.,
CLEARFIELD, PA.

I
O sk a lo o sa N a t io n a l B a n k .
L
M a h a sk a C o u n ty S tate B a n k ,
D o a g e n e ra l la w b u sin e ss.

Millions inIt.
Millions of Acres of the Finest

Farming and
Grazing Lands
IN WESTERN CANADA
o p e n fo r s e ttle m e n t. Sm all T a x e s , C h ea p F u e l,
G o o d C lim a te . L a n d s sell at ¡S 3 p e r a c r e ,
p a y a b le in te n ann ual in sta llm en ts.
Why ren t a
farm w h e n y o u can buy fo r le s s? T h o u s a n d s are
g o in g . F o r full in fo r m a tio n a p p ly to

A. G. SHAW,
G . A. P . D . , C a n a d ia n P a cific R a ilw a y ,
228 S ou th C la rk S tre e t, C H I C A G O .

THE

44

NORTHW ESTERN

July, 1902.

BANKER.

STATEMENT OF CONDITION OF THE

Ì

State Security Bank |
>§irmx Kaptbg, 3 Ioraa.
April 5, 1902.
LIABILITIES.

RESOURCES.

Loans,
Cash and in Banks,
Real Estate,
Total,
¿

$277,833-79 ,

Capital, . . .
$ 30,000.00
27,468.20
Surplus and Profits,
16,271.15
i3,2r6.o5 1 Deposits,
272,286.89
Total,
*3187558.04
$318 558.04 !

F. H. NEEDHAM. P r e s id e n t .
C B. MILLS, V ic e -P r e s .
A D E L B E R T TYMESON, J r ., C a s h ie r .
R. G. H U L E T T, A ss ’ t C a s h ie r .

1'»r i ^ T i v i Ti

B'f ’v’u w r i^ v v w tfe:
THE

\

F ir s t N a t io n a l B a n k ,
O F S IO U X C I T Y , IO W A .
CAPITAL, $ 2 0 0 ,0 0 0 .0 0 . SURPLUS ANDoPROFITS,
$ 2 1 ,2 0 1 .6 9 . D EPOSITS, $ 1 ,5 8 6 ,0 2 9 .6 .

Accounts of Banks received on liberal terms. A large
list of par points in Iowa, Minnesota, Dakota, and
Nebraska. Collections carefully and promptly made.
J A M E S F. T O Y , P r e s i d e n t .
A . 6 R O N I N G E H , V i c e -P r e s i d e n t .
A .S G A R E E T S O N , Ca s h i e r .
I. C. B R U B A C H E R , A s s t . C a s h i e r .

experience any difficulty entertaining your friends. Formerly billiards
at home was a luxury beyond the means of most people. With our
In d ia n a p o lis C om bin a_ tion T a b le
L ib r a r y
D in in g ^ B illia r d s ^ P o o l
everybody can have a billiard room in his summer cottage. It is a
massive, beautifully made table, with dining or library top, which, removed, discloses a practical, well constructed billiard and pool table.
The playing surface is as good in every way as that of the best standard
size tables. Accurate angles, true balls, regulation cues, quick sensitive cushions and bedsof superiorVermont slate. It thoroughly serves
the purpose of four tables in the best possible manner. Sizes % ,
% standard. Write us for illustrated catalogue of our many styles and
designs, with full information, cash prices and our special payment
plan.
COMBINATION BILLIARD TA B LE CO.
351 N. Clay pool Building
Indianapolis, Indiana

~c **

« iR
~ «3
^ a
-o
^
vAjc®
..2
A2
1/2'

L .

l/alley JNÍatioi^al Bai?^
O F D E S M O IN E S

REPORT OF THE CONDITION OF THE

5FX0ND NATIONAL BANK

Condensed Statement of Condition April 30, 1902

OF D U B U Q U E , IO W A .

*— ^ — C o m p tr o lle r ’s C a ll .--3!3— »

At the Close of Business, Wednesday, April 8 0 , 1902.

RESOURCES.

Loans and Discounts,
Overdrafts,
* Stocks and Bonds,
Premiums,
Banking House and Fixtures, Other Real Estate and Mortgages
owned,
U. S. Bonds,
- Cash and Exchange,
Total,

1,210,233.86
312.16
35-i 76.3o
11,013.75
43-500-0°
26,998.45
298,600.00
555-6*63.45
$ 2,181,497.97

LIABILITIES.

Capital Stock,
Surplus,
Undivided Profits, Net,
Circulation,
.
.
.
Deposits,
Total,

$

2 0 0 ,0 0 0 .0 0
100,000.00

28,681.99
187,597.50
1,665,218.48

.

$ 2,181,497.97

R. A. CRAWFORD, President.
C. H. DILWORTH, Vice-President
W. E. BARRETT, Cashier.
Accounts of Banks, Firms and Individuals solicited, and will
receive careful attention.


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

RESO U RCES.
C a sh —

On Hand ..................................................................$117,897.30
With Other Banks ................................................ 253,794 06
With U S. Treasurer.............................................
2,500.00$

I n v e st m e n t s —

374091 36

L oa n s........................................................................ 8c6,860.00
Bonds and Other Securities..........................
247,980.58
Overdiafts.................................................................
106.17
Banking House and RealEstate.......................... 61,690.08 i, 116,636.83
Total .

$1,490,828.19
L IA B IL IT IE S .

D e po sits —

Individuals.........................................................
Banks..... ................... ......................................
United States.....................................................

C a p it a l —

Paid in............................................................... .
Surplus and Profits..........................................

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

Total

$384,721 67
574. 997. 07
100,000.00 $1,059,718.74
300,000 00
81,10945
....... ..........

381,10945
50,000.00
$i, 490,828.19

This bank transacts a commercial business only, and pays no interest
except on balances of other banks.
O F F IC E R S :
J. K. D e m i n s , Pres.

VV. H. D a y , V ic e -P r e s .

H e r m . E s c h e n , C a s h ie r

D IR E C T O R S .
W m . L. B r a d l e y .
J a m e s M. B u r c h ,
W . H. D a y .
H. B. G l s t k *
J. K. D e m i n s ,
P. A. R um.p t ,
G eo . W . K i e » e l .