The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
NORTHWESTERN
'B
U
p
1963
u
Saxon Hearings Prove Explosive!
— Page 31
Bankers Discuss Building
'¿li tri
and Remodeling Experience
Survey— Page 36
June Is
Convention Month:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Minnesota —page 57
Montana —Page 74
Wyoming —Page 77
JOHN
MANGOLD
Vice-President,
Correspondent Bank Department
John Mangold joined the Merchants National
Bank in 1953, immediately after earning com
merce and law degrees from the State Univer
sity of Iowa. He recently completed the 3-year
course of the Graduate School of Banking,
Madison, Wisconsin. A member of the Iowa
Bar Association, John is also active in the
American Institute of Banking. His education
and experience give John a thorough working
knowledge of modern banking.
**%>*b**k
jy
I
John will be glad to offer your bank the benefit of MNB’s
ever-expanding facilities, including the new Data Process
ing Center.
Me/icluuitj National
CEDAR
THE
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
R A P ID S
F U LL S ER V IC E B A N K FO R T H E
MEMBER F.D.I.C.
B A N K S O F IO W A
3
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A Women’s Banking Program can pay dividends...
for your bank
W om en mean business . . . profitable business. If
your bank is thinking o f starting a program for
wom en officers, w hich we have reprinted in b ook
soliciting w om en ’s business — and providing the
D ividends,” it suggests ways to cultivate w om en’s
type o f financial service they like — The Northern
Trust can be helpful to you.
business, carry on a calling program, and serve
!
1/
let form. Entitled “ A W om en ’s Program Can Pay
wom en most effectively in the bank.
One good w ay to begin is to read a speech on
To obtain this booklet, simply mail in the coupon
this s u b je c t d e liv e r e d re c e n tly b y one o f our
at left. If, after reading it, you feel that further
discussion o f the subject could benefit your bank,
Mr. N. Hall Layman, Vice President
The Northern Trust Company
50 South La Salle Street
Chicago 90, Illinois
w e ’d be happy to have one o f our specialists in
the field o f W om en ’s Banking get in touch with you.
Please send me a copy of your booklet
"A Women's Program Can Pay Dividends.”
NORTHERN TRUST
50 S O U T H L A S A L L E S T R E E T
C H I C A G O 9 0, I L L I N O I S
FI 6-5500 • M E M B E R F .D .I .C .
BANK
wer
^ ? rtneTevearrn
is, Publish+ed m onthly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines 9, Iowa. Subscription 35c
m ail items^ tc? a b o v e a d d r e s s ¿
1
Postage paid at Des Moines, Iowa. Address all mail (subscriptions, change of address, Form 3579, manuscripts,
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Federal Reserve Bank of St. Louis
4
w
Security
Enough?
It’ s not just a case o f how modern
the safe, or how reliable the se
curity force. Nowadays, prudent
bankers realize extra precaution is
needed. T h at’ s why m ore and
m ore banks are planning tighter
r e c o r d - s e c u r it y p r o g r a m s o n
microfilm.
Basic to these programs is the
new R ecorda k R E L IA N T 500
M icrofilm er. It lets you ph oto
graph twin rolls o f him simulta
neously. O ne for ready reference
hies. T he other for security stor
age o ff premises. This way, should
your vital bank records be deNorthwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
stroyed, you know you have saved
your bank deposit and general
ledger hies, property-tax records,
stockholder lists and all the other
r e c o r d s y o u n e e d to sta y in
business in case o f disaster.
g ea red to y o u r b a n k ’ s needs.
Recordak Corporation, Dept. A-4,
770 Broadway, New York 3, N .Y.
Cost o f this extra security is sur
prisingly low. For example, you
can photograph twenty letter-size
item s on a p e n n y ’ s w o rth o f
m icrofilm — including processing
charge.
Just contact Recordak today. A
skilled representative will call on
you at your convenience and help
plan a security program that’ s
(Subsidiary of Eastman Kodak Company)
'
first and foremost
in microfilming since 1928
IN CANADA — Recordak of Canada Ltd., Toronto
5
Short Term
Commercial
Paper
Oldest Financial Journal West of the Mississippi
for your J U N E , 1963, reading
6 9 th Y ea r
N o. 9 1 1
EDITORIALS
14 Across the Desk from the Publisher
FEATURE ARTICLES
18
21
22
26
31
32
Young Couple Converts Used Chair into $5,000 Nest Egg
Frontispage—“ Pals”
Many Banks Invite Robberies— Frank Mattes
Display Promotes Seed Loans
Explosive Air Hits Bank Hearings— U. V. Wilcox
Feeders Can Field Warehouse Cattle
We offer
for sale
the notes of
these
representative
finance
companies
A d m ira l C re d it C o rp o ra tio n
Chicago, Illinois
A p p ro ve d Fin a n c e , In c .
IDEAS FOR BUILDING AND REMODELING
33 Points to Consider When You Remodel or Build
34 Functional Planning and the Bank Image—Earl T. Klein
36 Need for More Space Is Reason for Continued Bank Remodeling
Plans—A NORTHWESTERN BANKER Survey
42 Equipment Firms Aid in Bank Construction—
Columbus, Ohio
The B an kers In v e stm e n t C o m p an y
Hutchinson, Kansas
C iv ic Fin a n ce C o rp o ra tio n
Milwaukee, Wisconsin
C o m m e rcia l S e c u ritie s C o ., In c.
A NORTHWESTERN BANKER Survey
Baton Rouge, Louisiana
C o n tin e n ta l In v e stm e n t C o rp .
Memphis, Tennessee
STATE BANKING NEWS
57
58
60
65
70
74
77
80
83
88
92
96
98
98
101
104
113
Minnesota Bankers Convention Program
Minnesota Convention Chairmen
Twin City News
Kimbrel Featured at S.D.B.A. Meeting—R. Doyle Minden
Never a Dull Moment at Dickinson!— Walter T. Proctor
Montana Bankers to Grand Tetons
Wyoming Bankers Meet June 13-15 at Jackson Lake Lodge
Colorado Bankers Convention Report
Nebraska Bankers Hear Warnings on Livestock Numbers and
Branch Banking— Malcolm Freeland and Ben Haller, Jr.
Nebraska’s 50-Year Bankers
Omaha News
Lincoln News
U. S. Check Book Shows Expanded, Modern Plant
New Bank Charter Activity
Iowa News
Iowa Group Meeting Report and Pictures
Des Moines News
C ro w n Fin a n ce C o rp o ra tio n
St. Louis, Missouri
G u a rd ia n D iscount C o m p an y
Memphis, Tennessee
La u re n tid e Fin a n ce C o rp o ra tio n
San Francisco, California
M id w e st Fin a n ce C o ., In c.
Wholly-owned Subsidiary of
Doughboy Industries, Inc.)
New Richmond, Wisconsin
M urdock A c c e p ta n c e C o rp o ra tio n
Memphis, Tennessee
N ew Y o rk A u ctio n C o ., In c .
New York, New York
N orthern
Illin o is C o rp o ra tio n
De Kalb, Illinois
S tre v e ll-P a te rso n
F in a n c e
C o rp .
Salt Lake City, Utah
OTHER FEATURES
W in te r & H irsc h , In c o rp o ra te d
Chicago, Illinois
116 In the Directors’ Room
116 Index of Advertisers
Prevailing 6 month rate:
*
N O R TH W ESTER N
BA N KER
306 15th Street, Des Moines 9, Iowa, Telephone (Area Code 515) 244-8163
Chairman
Publisher
Clifford De Puy
Malcolm K. Freeland
Associate Editor
Advertising Assistant
Lena Sutphin
Field Representative
AI Kerbel
Ben J. Haller, Jr.
Doyle Minden
Circulation Department
Elizabeth Cole
Editor
Associate Editor
Walter T. Proctor
33/s - 33/4% discount
Shorter and longer maturities
available
ASHWELL
Auditor
Bertha Soderquist
Field Representative
Paul Masters
Frank P. Syms, Vice President, 550 Fifth Avenue, New York 36, JUdson 2-7126
Milton P. Bock, Vice President, 654 Baker Building, Minneapolis, FEderal 6-5357
DE PUY PUBLICATIONS: Underwriters Review, Northwestern Banker,
Iowa-Nebraska Bank Directory
&
CO M PAN Y
176 WEST ADAMS STREET
CHICAGO 3, ILLINOIS
RAndolph 6-5432
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
H ank S to c k
tf n o ta tio n s
IUOTATIONS on the following se
Q lected bank stocks are furnished
by Smith, Polian & Company, Omaha,
dealers in investment securities, and
are based on figures available as of
April 22, 1963.
BID ASKED
67
Bank of America .............................
647«
389
Bank of New York .........................................376
376
Bankers Trust of New York ...........
.. 56V8
5972
... 43
473/4
Boatmen's, St. Louis ........................
... 81 3/8
Chase Manhattan, New York .......
847s
89
Chemical Bank, New York ............
8672
1
176
Continental Illinois, Chicago ............... — 117
71
80
First National Bank, Chicago ....................■
■7672
7672
First National Bank, Dallas ...................... 69
7272
First National Bank, Tulsa ................
4572
4872
...IO33/4
First National City Bank, New York
106%
673/4
First Bank Stock, Minneapolis ........
... 6472
44
473/8
First National Bank, St. Louis .........
III
Harris Trust & Savings, Chicago ...............107
107
Irving Trust, New York ............................... 477*
471/4
4972
... 57
Manufacturers Hanover, New York ...........
5978
51
Mercantile National Bank, St. Louis ........ 48
...117
Morgan Guaranty, New York ....................117
12074
.... 70
National Bank, Detroit ............... -...............
7374
693/4
National Shaw, Boston _............................... 66/2
143
136
Northern Trust Co., Chicago ...................... 136
Philadelphia National
Bank ....................
5778
.... 5578
557s
6772
Seattle First National Bank
.............. 6772
7172
85
... 82
Security First National, Los Angeles
65
United California Bank .........; .....................
.... 6 H
U/2
Valley National Bank, Phoenix ...............
6972
-- 6674
75/4
7872
Wells Fargo Bank ......................................... 7574
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I COLLATERAL (
............... ................ i... ...............................ninnii....
Collateral . . . bonded, prime collateral . . . is the
keystone to the security and availability of your
loan services. Through field warehousing, St. Paul
Terminal Warehouse provides you with Preferred
Warehouse Receipts—the best collateral for credit
extension beyond open line limits. By converting
your customers inventories into this kind of prime
collateral, your bank makes more loans—and the
loans you make are more secure.
St. Paul Terminal’s dependability, flexibility and
security in field warehousing is unmatched. So keep
the many benefits of this valuable service working
for your bank . . . contact St. Paul Terminal today!
ST. P A U L T E R M I N A L
WAREHOUSE COMPANY
Offices in p rin cipal cities
425 East 8 t h
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Street
*
S t. Pau l, M innesota
American Express Net Up
lings and
American Express
sales throughout the world rose sharp
ly in 1962 and the upward trend has
_ continued so far
this year. How
ard L. Clark, pres
ident, announced
recently to t h e
annual meeting of
shareholders.
Billings for the
American Express
Credit Card are
running at an an
nual rate well in
H. L. CLAR K
e x ce s s of $200
million, more than 20 per cent higher
than the same period last year. There
are now over 925,000 cardholders, ap
proximately 80,000 more than at this
time in 1962.
Travelers Cheque sales for the year ^
to date are also ahead of 1962, with'
sales in foreign markets averaging 10
per cent higher.
Total earnings in 1962 were $10,130,943, 10 per cent over the previous
year and the highest dollar increase
in the company’s 113-year history. ^
These earnings were equal to $2.27
per share against $2.06 per share in
1961.
Gross i n c o m e from operations
totalled $86,408,097, an 11 per cent
increase over the prior year, and net
earnings from operations rose 22 per
¡m
cent.
Total assets of American Express
Company and its consolidated sub
sidiaries rose to $915,178,727, com
pared with $876,546,044 at the end of
1961.
7
N E W ! U N IV E R S A L T E L L E R S Y S T E M
For the first time in Commercial Bank history...
ANY
customer can go to
ANY
teller’s window with
ANY
type of transaction.
The NCR UNIVERSAL TELLER SYSTEM — under machine control — provides
IMMEDIATE
IMMEDIATE
IMMEDIATE
customer records
bank records
data for processing through E D P systems.
For more information about this most modern original-entry system that
you can use in your bank, contact your local NCR representative TODAY!
NCR PROVIDES TOTAL S Y S T E M S —FROM ORIGINAL ENTRY TO FINAL REPORT —
a c c o u n t in g m a c h in e s , c a s h r e g is t e r s o r a d d in g m a c h in e s , a n d d a t a p r o c e s s in g
T h e N a tio n a l C a s h R e g i s t e r C o . . 1,133 o f f i c e s in 1 20 c o u n t h e s . 7 9 y e a r s o f h e lp in g b u s i n e s s s a v e m o n e y
through
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
N C R
Northwestern Banker, June, 1963
8
Harris Bank Changes
B A N K E R S
w h o c a n ’t s a y “y e s ”
s a y “ Talk to the
man from Tatcott’ ’
There are times when customers come to you
with financing needs exceeding their line of
bank credit. That’s the time to suggest they
talk to the man from Talcott. He can work
out commercial financing or factoring plans
which provide the capital your customers need
and help you retain their good will . . . and
you can participate in the financing if you
wish. Your customers continue to bank with
you . . . and return to you for full borrowing
requirements when their credit is again
acceptable.
For Talcott Basic Data File, write to Clarence
A. Adams, Vice President, James Talcott, Inc.,
N o rth w estern B ank B u ild in g, M in n ea p o lis,
Minnesota.
J
A
M
E
S
_________________
tT
IN C
T F
Northwestern Bank Building, Minneapolis, Minn.
DETROIT • C H IC A G O • NEW YORK • BOSTON * PHILADELPHIA • ATLANTA » MIAMI
LOS ANGE1ES • SAN FR A N CISCO » HOUSTON • PUERTO RICO • MONTREAL
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Lester Armour retired from active
service as vice chairman of the Harris
Trust and Savings Bank, Chicago, last
month. He will continue as a mem
ber of the Harris
b oa rd o f d ir e c
tors.
Mr. Armour was
honored by Har
ris Bank manage
ment at a dinner
in his honor. A
reception and tea
in t h e b a n k ’ s
penthouse dining
rooms, also hon
L. A R M O U R
oring the retiring
banker, was attended by 500 Harris
staff members.
Mr. Armour graduated from Yale in
1918 and was associated with Armour
& Company from that time until 1934.
He was chairman of the board of
General Stockyards Corporation from
1935 to 1940. In 1937 he became a di
rector of the City National Bank and
Trust Company, where he was elected
senior vice president in 1946, serving
until 1947.
From 1948 until 1960 he served as
chairman of the board of the Chicago
National Bank, becoming vice chair
man o f H arris
Bank when the **
tw o b a n k s
merged in 1960.
Five men in the
trust department
at H a rris Bank
w ere p ro m o te d
last month. Head
ing the list is a
new v i c e presi
d e n t , J o h n A.
J. A. K U H N
Kuhn. He had
been an assistant vice president.
James E. Mandler was advanced to
assistant vice president and Peter J.
Brennan to trust counsel. New offi
cers named were John H. Tallgren*
and William E. Weiner, both appoint
ed assistant secretaries.
On K . C. Crime Commission
Barret S. Heddens, Jr., president of
The First National Bank of Kansas^
City, Mo., has been elected a member'’
of the Kansas City Crime Commission.
Membership in the Crime Commis
sion is limited to 100 businessmen of
Kansas City. The purpose of the Com
mission is to do research work into
the causes and remedies of crime, act^
as a general watchdog of law enforce
ment agencies, officers, and methods,
report to the public regarding the
findings of the Commission and obtain
the support of the public when a
change is believed necessary.
9
Business speaks in many languages...
Whatever business or specialized fields your customers are in,
the Irving can help you make their work more profitable through its
professional services as the bank for bankers and businessmen.
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O ne W all Street,
C
o m p a n y
A^w lor£ /j, N .Y .
Capital Funds over $160,000,000
Total Assets over $200,000,000
A. M u r p h y , Chairman of the Board
W i l l ia m E. P e t e r s e n , President
National Division—H. M i l l e r L a w d e r , Senior Vice President in Charge
G eorge
MEMBER
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
FEDERAL
DEPO SIT
INSURANCE
C O RPO RATIO N
Northwestern Banker, June, 1963
10
f irst N a tion a l C ity P r o m o te s
T ra velers C h eeks W o r ld -W id e
First National City Bank has
T HE
embarked upon a ten-year plan
utilizing the boldest marketing con
cepts to dramatize its position as one
of the leading international banking
and service organizations.
The bank has chosen what it be
lieves to be the “sleeping giant” among
essential hank services — Travelers
Checks—to test-market its concepts.
First National City is backing its
Travelers Checks activity with a glo
bal network of more than 15,000 sales
and refund agents and is the first to
offer an actual “on-the-spot” refund
system on a truly global basis. Pur
chasers of FNCB Travelers Checks
which have been lost or destroyed
may call Operator 25 throughout the
United States (except Alaska and Ha
waii), and be told the nearest bank
where their checks will be immediate
ly refunded. In other countries and
Alaska and Hawaii, the refund serv
ice is referred through principal ho
tels.
The bank has tripled its Travelers
Checks solicitation staff and more
than 100 officers in its national divi
sion also are actively selling the serv
ice.
Behind the scenes, First National
City Bank is keying its Travelers
Check operation to its data processing
center, the largest in the financial in
dustry, backed by a skilled automation
planning group and research and de
velopment team.
In a dramatic test of its Travelers
Checks promotion concept, First Na
tional City Bank selected, through an
independent organization, a young
married couple from Florissant, Mo.,
to travel around the world. Their in
structions were simple: to tour, us
ing First National City Bank Travel
ers Checks exclusively — for hotels,
meals, souvenir shopping, any and all
EVALUATION
r
Among the many problems MICR
has brought to printers is the eval
uation of their work in accordance
with M ICR specifications. For
example, our top-notch evaluator
can optically examine only about
720 documents in a week’s time
. . . it’s a slow process.
Because it is impossible to evalu
ate every check from every order,
a random sampling technique had
been used on a relatively small
number of orders. This was as
satisfactory as we could expect it
to be considering the limitations
of time and manpower. We con
tinued to feel, however, that a
larger number of evaluations would
serve to measure our quality and
progress more accurately.
'
problem. About 25,000 check
samples selected at random from
orders produced by all of our plants
are run through an MICR sorter
each week. The identity of the
sorter used is unknown to our
production and sales people. Any
rejected checks from the sorter are
then optically evaluated to deter
mine the reasons for rejection, and
the results are carefully tabulated
in a combined report to the plants.
Several months ago we adopted a
new procedure which we consider
a much better answer to this
These weekly reports serve as a
basis for measuring our quality, for
taking corrective action where
necessary, and for judging our
progress toward the elusive goal
of meeting all specifications on all
documents. The adoption of this
program cannot as yet assure your
bank 100% readability, but it is a
step nearer our goal of providing
completely dependable MICR
bank checks.
major travel purposes.
The couple, Mr. and Mrs. S. Joseph
Gore, thus were to live through this
objective “test in use” to prove these
three points—and they did: The world
wide availability of First National A
City Bank Travelers Checks, their
unique refundability, and finally the
full acceptability of FNCB Travelers
Checks everywhere in the world.
Their 13-country, 27,500-mile trip
will be the basis of a national, fullcolor, advertising campaign for FNCB
Travelers Checks.
The consumer c a mp a i g n opened
with a “block buster”—a four-page,
full-color ad in the June issue of Holi ft
day.
This was followed by the same ad
in the May 25 issue of The New York
w
er, and will appear again in a June
issue of Time.
A complete package of point-of-pur
chase material and an eight-page three
fold mailing piece carrying the ad in
four colors will go to the literally
thousands of First National City’s
*
Travelers Checks agents.
The ad campaign has been timed to
appear at the beginning of the travel
season and dramatically illustrates
that wherever one may travel, First
National City Bank Travelers Checks
are available, refundable, and fully ac
*
ceptable.
Agency for the promotion is Albert
Frank-Gunther Law.
Joins Airlines Board
j
Donald F. Magarrell, senior vice
president-administration of the Colo
rado N a t i o n a l
B a n k , Denver,
was elected to the
board of directors
o f Cont i ne nt al
Airlines
last
m o n t h at t h e
company’s annual
s t o c k h o l d
ers’ meeting in ftr
Denver, Colo.
A n a t i v e of
D . F. M A G A R R E L L
C o u n c i l Bluffs,
Iowa, Mr. Magarrell attended Cornell
and Northwestern Universities and
Harvard Business School. In 1936 he
joined United Air Lines as directorpassenger services. When he resigned
from United in 1962, he was the com
pany’s senior vice president-transpor
tation services and a member of the
hoard
o f directors.
Los Angeles Promotions
D ELU XE
¡L IFTO N
IH IC ÄO O
Horthwestern Banker, June, J963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
CHECK
NORW ALK
K A N S A S C IT Y
PAOLI
PRINTERS
CLEVELAND
ST. P A U L
DALLAS
D E T R O IT
INC.
I N D IA N A P O L IS
CHATSW O RTH
PO RTLAND
Election of H. D. Anderson and
Paul W. Hiltman to vice presidents of
United California Bank, Los Angeles,
has been announced by Frank L.
King, chairman of the board.
W e purchased an Albany Clock in 1954 for our main bank building and were so
pleased with the favorable reception from the people of Fayetteville that we decided
to place one on our new branch bank.
The enclosed picture shows our new Drive-In Branch Bank in the Evelyn Hills
Shopping Center with the Albany Clock. This has brought us many compliments,
not only for the use as a timepiece, but for the appearance of the building.
W e are extremely satisfied with the workmanship, beauty, and operation of our
Albany Clocks.
PRESIDENT, THE FIRST NATIONAL BANK, FAYETTEVILLE, ARKANSAS
CH IM E C LO CK S
TIM E & TEM P ER A T U R E D ISP LA Y S
CA RILLO N S
DUAL-AD
PECO McCLINTOCK
( J///«' / Ç O S
1025 H ILL S T R E E T -H O P K IN S , MI N N ESO TA-AREA CODE 612-PHO N E WE 5-5548
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
GNITY AND DISTINCTION
12
A t IS P u n ch ed C ard S o rter
H a s V ersa tility and S peed
National Cash Register Com
T HE
pany has released for sale a high
speed punched card sorter which com
bines in a single unit several func
tions normally requiring more than
one type of card-handling equipment.
The new machine, designated as the
Class 406 sorter-comparator, is the
first punched card sorter marketed by
NCR and is compatible with both elec
tronic and tabulating systems.
Harry C. Keesecker, NCR’s vice
i
i
NCR Class 406 sorter-comparator program
ming change takes only a few seconds.
CH U R C H ,
ble sorting equipment, NCR said.
The machine is priced at $6,600 and
rents for $148 per month. First deliv
eries are currently being made to NCR
Data Processing Centers in New York,
Dayton, and Hawthorne, Calif. Cus
tomer deliveries will follow shortly
thereafter, the company said.
SCH O O L,
Equipment Firm Expands
J
1.
president of marketing, said the new
sorter-comparator has distinctively dif
ferent and improved sorting tech
niques that make possible increased
efficiency in both electronic and tabu
lating systems using punched card
media.
Z )
U n d erw riters o f
In stitu tio n a l Loans
l
i
H O S P IT A L
CLASS 406 sorter-comparator provides
high-speed sorting, verification and selec
tion of punched cards that saves com
puter time and reduces card handling.
and
F.H .A . Insured
BONDS
HELP MAINTAIN
BANK
EARNINGS
Current yields range from
4 to 5!/2% . . . offering
banks attractive income,
ready marketability, and
serial
maturities
to
The sorter-comparator can sort, ver
ify, and perform sequence and selec
tion routines on 80-column punched
cards, alphabetically or numerically,
at a rate of 1,000 cards a minute. It
has two separate reading stations and
a programmable electronic memory
for verifying data and for controlling
the distribution of cards into the ma
chine’s 14 classification pockets.
The sorter can read and compare up
to 12 columns of punched data in a
single pass of the cards at full sorting
speed. This ability to sense punch
bags in multiple columns of a card,
plus electronically verifying sorting
accuracy, makes possible a complex se
quence check not possible on compara
All Makes Office Equipment Com
pany, Omaha, has announced a further
expansion of its office equipment and
furniture departments.
The firm recently completed a
$300,000 expansion and remodeling
program and the new move will place
even more emphasis on the display P
of furniture and equipment.
L. A. Kavich, president of All
Makes, said, “Our firm now holds un
disputed leadership in the midwest
area in the office equipment and
furniture field.”
1st Wisconsin Appointment
William B. Pattinson of Toronto,
Canada, has been appointed assistant
vice president of the First Wisconsin
National Bank’s international bank
ing division, Milwaukee. The an
nouncement was made by Joseph W.
Simpson, Jr., president, following a *
board of directors meeting.
fit
specific portfolio needs.
B. C. ZIEGLER
AND C O M P A N Y
West Bend, W isconsin
Branch Offices:
MILWAUKEE— 735 North Water Street
CHICAGO— 135 S. La Salle Street, Suite 2048
ST. LOUIS— 411 N. 7th Street
TOLEDO — 6620 Lincoln Pkwy.
NEW YORK— Chrysler Building, Suite 609
MINNEAPOLIS— 607 Marquette Avenue
MEMPHIS— 420 Dermon Bldg.
DUBUQUE— 1003 American Trust Bldg.
Northwestern Banker, June, T963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
As a member of the Studley, Shupert Trust Investment Council, you
build a library of Recommendations For Typical Trust Account Prob
lems . . . and find it, as many members say, “ a gold mine of trust
investment philosophy” applicable to your own accounts. Write for
details of Council Membership.
STUDLEY, SHUPERT TRUST INVESTMENT COUNCIL
1617
PENNSYLVANIA
BOULEVARD
PHILADELPHIA
3,
P A.
13
Need ideas for cultivating your women
customers? These “bankers in high heels” have them,
*
based on successful experience in developing current accounts
and cultivating new business on the distaff side. This is one way
we help our correspondents. W e ’d like to help y o u !
H AR R ISW R AN K
Organized as N . W . Harris & Co. 1882— Incorporated 1907— Member Federal Reserve System...Federal Deposit Insurance Corporation
111 WEST MONROE STREET—CHICAGO 90
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
N o rth w e ste rn Banker, June, 1963
14
(D&cUi. C- ¿diuWud SsMUjmML,:
Chairman, ABA Personnel Administration
and Management Development Committee,
Buffalo, New York.
In the opening session of the A B A ’s national
personnel conference held in Chicago last month
you predicted that bank employees will top the
one million mark by 1975. Banking population
is now 610,000.
Quoting from a IT. S. Bureau of Labor Statis
tics study, you made the following observations:
“ Population levels, rising income and an in
creased demand for bank services will have a
direct influence on the banking industry’s per
sonnel growth.
“ Personnel administrators and management
will have to adjust their planning to take into
account population gains and the impact of auto
mation.
“ Banks who have gone to the computer know
that the industry is creating a whole new job
category. The elimination of routine jobs will
influence the recruiting and hiring needs. Rou
tine jobs will no longer be available to provide
stepping stones of experience.
“ Banks will be adding more new services, mak
ing it necessary to review training programs with
a critical eye. The whole approach to training
procedures is on the verge of a radical change,
and methods must be found to train more people
in a shorter period of time, at less expense, and
more effectively.”
Your comments are especially applicable to
metropolitan banks. The trend to automation will
also affect the personnel policies of the smaller
community banks, however, since much of their
work will be done by either the city correspond
ent or an automation center sponsored by a group
of smaller banks.
It appears that the bank president of the future
will not be able to point to the fact that he
started out as a messenger or bookkeeper. His
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
start in banking today may be dependent upon
a college degree or the ability to operate a high
speed computer.
ffa m & A .
T/Lo ju m c s l:
President, Monticello State Bank,
Monticello, Iowa.
Your bank is to be congratulated for its recog
nition of the industries in the Monticello area.
A case in point is the special eight-page color
section in a recent issue of your local newspaper,
the Monticello Express. Sponsored by your bank,
the section was devoted to the 310 people connected
with Monticello industry. Group photos showing
the employees in each industry were featured,
along with a brief description of the industry and
its products.
According to H. M. Jones, publisher of the news
paper, the special section was entirely your idea,
and was unanimously approved by your bank’s
board of directors. Mr. Jones admits that the con
tribution of the newspaper consisted largely of
saying “ yes” when asked if it could produce such
a section.
Recognition of industry by community banks
should receive top priority. In areas where farm
population continues to decline, industrial develop
ment is particularly important. The survival of
many communities may be dependent upon recog
nizing present industries and establshing new ones.
At year-end, your bank, located in a town of
3,200, had total deposits of $18,588,000. Taking
the lead in projects for community betterment has
played an important role in your bank’s progress.
Many other banks are doing an equally fine job.
During the months ahead, the N o r t h w e s t e r n
B an k er
will feature a series of articles giving
specific examples of how bankers have helped their
communities along the lines of industrial develop
ment. The Monticello State Bank’s efforts are
worthy of consideration by other banks.
*
15
¡*-
There are smiles that
make us happy
There are smiles that
make us sad
According to Christmas Club a Corporation, a smile is
the beginning of friendship. But it must be a real smile
— and it’s only the beginning.
A teller is in the first line of communication with cus
to m e rs. H is g en u in e , sp o n ta n eou s sm ile pu ts the
customer at ease and indicates control of himself. His
smile makes the customer happy and should serve as the
starting point of an organized program which will offer
custom ers inform ation, service and, finally, lasting
friendship.
Bankers have much to offer that is impossible to com
municate to customers in their daily routine of business.
If, however, arrangements are made and the banker can
meet with his public informally to discuss the values of
banking and how banking principles can be applied by
each individual, then the banker is on his way to making
new friends and cementing old friendships. To gain and
keep friends, frequent contact is essential, and a sense of
reliance and interest is also needed.
Christmas Club a Corporation has devoted an entire
booklet—“ Lei’s Be Friends” —to this problem. It features
unusual ideas, suggested programs and time-proved ad
vice. To get your free copy, just drop us a line, or contact
your local Christmas Club a Corporation staff member.
C ijr t s t m a # d u b
a (Corporation
230 Park Avenue, New York, N. Y.
Founded by H erbert F. Rawll
Builds Character
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
• Builds Savings
• Builds Business for Financial institutions
Northwestern Banker, June, 1963
16
IH rbohl
Uiii/s Ti rnis
INCORPORATED, with
D IEBOLD
the purchase of Consolidated
Business Systems, Incorporated, and
its wholly-owned subsidiary Young &
Selden Company, has entered the
half billion dollar business forms in
dustry and the equally fast growing
bank check and stationery industry,
according to Raymond Koontz, presi
dent of Diebold.
Consolidated business Systems, which
with its subsidiaries has annual sales
of $6,500,000, is the manufacturer of
a wide range of continuous business
forms, Redifixt carbon forms and
other standard forms. This company
has plants in New Brunswick, N. J.;
Baltimore, Md.; and Durham, N. C.
Young & Selden Company, with its
main plant in Baltimore, Md., and im
printing plants in Hartford, Conn.;
Newark, N. J.; Philadelphia, Pa.;
Jacksonville, Fla.; and Shreveport,
La.; is a leading manufacturer of
Magnetic Ink Character Recognition
(MICR) checks.
“The acquisition,” according to Mr.
Koontz, “is a natural diversification
for Diebold Incorporated, long a
leading manufacturer of bank pro-
tective equipment and office systems
equipment. All of the products of
Consolidated Business Systems and
Young & Selden are used extensively
by the present friends and customers
of Diebold.
Diebold Incorporated will exchange
39,000 of its common voting shares
for the assets of Consolidated Busi
ness Systems, which includes the
wholly-owned, 88-year-old Young &
Selden Company. These shares will
be distributed to Consolidated share
holders on a pro rata basis.
Andrew J. Boylan has been ap
pointed general sales manager of Con
solidated Business Systems. He joined
Diebold in 1959 and in 1960 he was
appointed marketing director for bank
and retail accounts working out of
the Chicago office, where he was ex
tensively engaged in systems and pro
cedures work.
Frederick E. Rudman has been ap
pointed general manager of the Young
& Selden subsidiary and is located at
the main plant in Baltimore, Md.
Mercantile Trust Promotions
The following promotions were an
nounced last month by Kenton R.
BANKERS BUILD
BIGGER AND BETTER
CREDIT LIFE PROGRAMS
w ith
WESTERN & SOUTHERN
SERVICE & PLANS
vv/'c/e range of plans
simplified administration
fast claims service
CREDIT
INSURANCE
DEPARTMENT
P.O. Box 1119
Cincinnati 1, Ohio
THE WESTERN
AND SOUTHERN
LIFE INSURANCE
COMPANY
A MUTUAL CO M PAN Y
William C. Safford, President
y?a/!Cjest
inthe
^Uouniam States
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Cravens, board chairman of Mercan
tile Trust Company, St. Louis:
Frank H. Hamilton, Jr., Robert C.
Wolford, and Donald Lasater to vice
presidents, and Jerome A. Breslin
W OLFORD
H A M IL T O N
LASATER
named assistant trust officer. Mr.
Hamilton joined the bank in 1951 as
a junior analyst and is in Division
A. Mr. Wolford came as a college
trainee in 1957 and is now transferred
from Division C to D. Mr. Lasater
has been with the bank since 1959 and
is in trust new business department,
r
jack Hemmerle Retires
John C. Hemmerle, assistant cashier
with The First National Bank of Chi
cago, retired May 31 after 35 years’ of
service with the
bank. Mr. Hem
m e r l e w a s 60
y e ar s ol d last
month and took
ear l y retirement
unde r provisions
of the bank’s re
tirement plan.
Mr. Hemmerle
plans to t r avel
during the next
few months, in
cluding a Mediterranean cruise in late
fall.
He is well known to bankers in the
upper midwest states where he has
traveled for many years as a member
of Division F, The First National’s
correspondent bank di vi si on. The
principal states he worked in for the
bank were Minnesota, North Dakota,
Montana, Idaho and Alaska.
American Express
Names 5 Officers
The following officer appointments
have been announced by American
Express Company:
Philip M. Schneckenburger from
assistant vice president in overseas
offices administration to assistant
treasurer.
Frank G. Holmes, William R. Reid,
Lewis D. Weida and Wade H. Carden
to assistant vice president. The first
three men are members of the com
pany’s Travelers Cheque sales divi
sion. Mr. Carden joins the firm’s
|credit card division in New York.
u
^
*
v
1
*
Pre-packaged
way to sell
First National City
Travelers Checks
*>
1. Customer has choice of five or ten checks per
pack in $10, $20, $50 or $100 denominations cover
ing sales from $50 to $1000.
2. Teller selects package desired from appropriate
pocket of his sales pouch. No assembling necessary!
3. Customer merely completes simple Purchase
Agreement Form. Copies made automatically with
out carbon!
4. Teller detaches four-part form from package, col
lects proper charges . . . hands customer pink copy
and wallet of checks.
5. Customer signs each check before leaving bank
. . . really appreciates your fast service!
AND . . . A REFUND SERVICE SECOND TO NONE! Yes,
FNCB offers global, on-the-spot refund service at
thousands of refund points throughout the world.
Anywhere in the U.S. (except Alaska and Hawaii). . .
and this is exclusive . . . your customers merely have
to call WESTERN UNION OPERATOR
25 to learn the nearest refund
point. Information concerning
refund points in other countries,
Alaska and Hawaii is available
through leading hotels.
FIR S T N A T IO N A L CITY B A N K
Member Federal Deposit Insurance Corporation
/ selling time
(ju st 90 sec.!
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
18
Y oung Couple C on verts U sed
Chair in to S.H.OOO X e s t E gg
slogan, “ See the men at
T HE
The Chase,” turned out to be
FEDERAL.
B I L L
S T R A P S
Made of the best qua lity
K ra ft paper, so strong it
w ill not break in a stra ig h t
pull. Breaking stren gth 70
lbs. persq. in.W ith inverted
and r e v e r s e d f i g u r e s
in sta n tly disclosing value
o f package on top edge or
bottom .
"STEEL-S TR O N G ” is the only B ill Strap which
regularly delivers currency to Federal Reserve
Banks in unbroken packages. In 11 Colors.
0 UNSHELL
COIN W R A P P E R S
Due to unique constructio n,
th is Wrapper gives superior
strength, neatness, and a
definite greater protection
to wrapped coins.Too, there
is no c lo g g in g of coins.
Ends c r im p e d t i g h t l y .
Sym m etrically packed 1,000
to a carton w ith the crimped
e n d s t u r n e d o n e way.
I
H-R.-S
THEY'RE GREAT TIME SAVERS
IN ALL MACHINE FILLING.
SEE YOUR
DEALER OR
SEND FOR
FREE SAMPLES
Dept. W
TfeC.L.DOWNEY
G o -n t fia t t y
HANNIBAL, MISSOURI
W orld's L a rg e st M a nu fa ctu re rs
o f Coin Handling Sup pli es
Northwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
good advice recently for a young
couple who bought a second
hand chair, then found their
$7.65 purchase parlayed into a
modern-day treasure chest con
taining more than $5,000.
The young couple, in a west
ern state, went shopping for fur
niture for their first apartment.
They decided to buy a used,
stuffed armchair which had seen
better days. Since it was only
$7.65 they decided to buy the
chair and reupholster it them
selves.
This got them unsuspectingly
involved in a knotty financial
problem that led them to an old
friend for advice, William S.
Miller, executive vice president
of Chase International Invest
ment Corporation. Mr. Miller in
turn got in touch with Jackson
D. Breaks, president of Chase
Manhattan Capital Corporation,
who was traveling the next day
to the young couple’s city 2,000
miles away. Mr. Breaks was in
trigued by the young couple’s
first-rate my s t e r y story and
pitched in to help. Here’s what
happened.
About two weeks after they
bought the chair, the couple re
moved the old upholstery tacks,
removed several layers of faded
material, and Anne (the young
wife) spotted a white envelope
we d g e d i nsi de. It contained
$1,500 in $100 and $50 bills. The
other arm c o n t a i n e d greater
treasurer—$4,000 in the same
denominations. Stashed in an
other corner of the arm were
three pairs of women’s nylon
stockings.
Recognizing the need for se
crecy to avoid illegitimate claims,
the young couple recorded the
serial numbers on the bills and
placed the money in a safe de
posit box in their local bank.
Attempts to trace the original
owner through the store where
the chair was purchased brought
no clues. At this point the cou
ple turned to “the man at The
Chase” for advice.
Mr. Breaks recommended turn
ing the problem over to a lawyer
and he introduced the couple to
a firm he knew in their city.
The attorney took the serial
numbers to a local Chase cor
respondent bank and determined
they were not “hot money.” A
few days later they received a
three-page legal opinion from
the attorney advising them that
they were the legal owners of
the money unless the legitimate
owner established a valid claim,
which was unlikely.
The money was placed in a
savings account for a period of
six months to meet the legal re
quirements regarding a possible
claim. The envelopes found in
the chair, the list of serial num
bers, the sales receipt and sam
ples of the chair fabric were
placed in a safe deposit box for
identification if needed.
“The young couple had a com
mendable desire to do everything
in accordance with the law,”
says Mr. Breaks. “For all they
knew, the money could have
been stolen, r a n s o m money,
counterfeit, or the property of a
legitimate owner or heir.
“Helping them with their un
usual problem was a delightful
change of pace for me, and, of
course, I was pleased with the
happy ending.”
Like the banker, the couple’s
lawyer found the case an in
triguing break in the usual rou
tine. His bill for services ren
dered? — $7.65, the cost of the
chair!
P.S. The chair was finally up
holstered and though its real
worth may remain unknown to
visitors, its quality as a rare
piece of furniture will always be
appreciated by this young cou
ple.
good
m ay
m o r n in g
we
have
c o n t in e n t a l
the
o p e n in g
new
rates
YORK
GA
please
MORNING c o n t in e n t a l CHICAGO
good
STERLING 2 .8 0 0 4 - 0 7
2 2 -1 9
forwards
4 1 -3 8
6 2 -5 9
l2 8 . , 2 ,
CANADA .9 2 2 9 /3 2 - 1 5 /1 $
»/32-FLA T
forwards
,/ ,« .„ *
S /J2 _| m
:
r : ; r
®
"
-2Mo
" ftRKS • 2 ,0 5 - > ^
SWISS f r a n c s
ELQIAN f r a n c s .020060-70
. 2 3 i o - 1/2
ITALIAN 1 lK tr
KRONOR . 1S24 s / 4 . 25 1/A
»W ISH KRW)er
* 0 0 1 6 1 0 S / 4 - " ‘ /A
0IftN KR0NER - 1 4 0 0 - 1 / 2
a w im
hedged u . k .
s a l ' AI
ILL RATE 2 ,7 8 PERCENT
Z T CMAmN BILL mn
London gold 2 5 0 -5 \/a
** l/4
l
~
3-25
LLARS 3 5 ,0 7 3/4 ppR f i n e ounce
gaoe
There’s a lot more to foreign exchange
than today’s quotations
Foreign exchange is a tricky business. W hat
you can buy or sell foreign currency for
today m ay differ radically from what you
can buy or sell it for next week. T h a t’s where
an experienced trader like Continental, one
o f the nation’s largest, can help.
Our International Banking people pay
close attention to the variables that affect
exchange rates. T h e y ’re in constant touch
with world m oney markets . . . ready to give
you r custom ers up-to-the-m inute inform a
tion, and quotations, on rates o f exchange.
S h ou ld y o u r cu sto m e r w ish to c o n v e rt
foreign currency into dollars (or vice versa),
our facilities in Chicago, N ew York and
L ondon insure the swiftest possible han
dling o f the transaction, at the m ost fa v or
able rate o f exchange.
Foreign exchange is just one service our
International Banking D epartm ent offers
correspondents. Collections, transfers, let
ters o f credit, m arket inform ation . . . these,
too, receive our prom pt and expert han
dling. W h y not give us a call?
Moving a h e a d ...to stay ahead of your needs
CONTINENTAL
AND
I L L I N O IS
N AT IO N A L
BANK
T R U S T C O M P A N Y OF C H I C A G O
231 South LaSalle Street, Chicago 90, Illinois
Representative Office: 71 Broadway, New York; Subsidiaries; Continental Bank International, 71 Broadway, New York;
Continental International Finance Corporation, 231 South LaSalle Street, Chicago; London Branch: 58/60 Moorgate, E.C. 2.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
M E M B E R F E D E R A L D EPO SIT
IN S U R A N C E C O R PO R ATIO N
Northwestern Banker, June, 1963
20
And, that’s just the kind of service you g e t . . .
when you entrust your Correspondent Items . . . to
our “ Around-The-Clock” Transit Department.
IO W A ’S F A V O R IT E C O R R E S P O N D E N T B A N K
NATIONAL BANK
and TR U ST COMPANY
FIFTH
and
L O C U S T
•
D E S
Telephone — CHerry
MEMBER
Northwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
F E D E R A L
DEPOSI T
M O IN E S ,
IOWA
3 -8 1 8 1
I NSURANCE
CORPORATI ON
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
22
M a n u lianlis In vile R o b b eries
too many banks, both small
T ODAY,
and large, are extending an open
W ritten Especially for
The N O RTH W E STE RN B AN K E R
invitation to be robbed.
If the number of these attacks is to
be reduced this open invitation must
be eliminated by the banks them
selves. An important step toward this
goal is the establishment of an effec
tive security program. Nothing will
discourage a potential bank robber
more quickly than obviously sound
security practices—practices followed
by both management and employees.
By FRANK MATTES
Director , Mosler Protection
Advisory Bureau
Opening time holdups, along with
other types of attack, have been in
creasing. Therefore, your program
must be in effect before anyone even
enters the bank in the morning. The
first employee arriving should check
the vicinity of the bank for suspicious
persons or automobiles. Anything of
a suspicious nature should be immedi
ately reported to the police.
Morning Check
The bank should not be entered un
til a second employee arrives. Then
one employee should enter and make
a thorough search of the entire prem
ises before the all clear signal to the
other employee. This signal should
be changed periodically.
During banking hours all loiterers
and suspicious looking people should
be checked. A guard or an officer can
do this tactfully by approaching the
individual and offering assistance.
Guards, when used, should be clear
ly identified as such by the use of uni
forms and badges. Their duty should
be to function as guards and not as
messengers or handymen.
After hours, no one should be ad
mitted to the bank unless they are
positively identified and have a legit
imate reason for being there. Upon
closing, one official should have the
responsibility of checking all safes
and vaults and making sure that they
are locked and that the alarms protect
ing them are in operation. When clos
ing for the night all doors and win
dows should be checked to be certain
they are secure.
Holdup Preparedness
8
4_ 5 T f 7 T
32 3 3 ' l l 15
ÍH - 'LL20 23 22
16 £ L 1 1 39_
27 28 29
2 3 24 __ 2 5 2 6
3 4 13 5 ' 3 6
30 33 32 33
4 0 4 3 14 2 4 3
3 7 '_3 8 _ 3 9 -----4 8 14 9 5 0
4 4 _ 4£ 4 6 4 7
55T 56 ] 5 7 _
5 ¿T 5 2 1 1 1 5 4
"1 “T
2
3
- —
^
Maybe the whole world needs the kind of
calendar we go by . . . just twice as much service in any month —
as a result of our night and day Transit service. If you want the
kind of service that is a Fact and not a Boast, call us and get
acquainted with our “Men on the Go.”
FIRST NATIONAL BA N K
MAIN! OFFICE— 10th & Baltimore • Drive-In Bank— 13th & Washington
FREE PARKING AT BOTH LOCATIONS • Member F.D.I.C.
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Unfortunately, in spite of security
programs bank robberies do occur.
Since this is so, you must be prepared
for such an attack.
Personnel should try to remain
calm and do exactly what the holdup
man directs. The holdup alarm should
be activated as soon as safety per
mits. Today, all mo d e r n holdup
alarms and photographic surveillance
systems can be activated while fol
lowing the bandit’s directions and
without his knowledge.
Bank personnel should be trained
to be observant so that an accurate
description of the bandits can be fur
nished to the police.
They should note such things as
height, weight, age, hair and complex
ion by comparing these points with
those of a friend or familiar person.
Particular emphasis should be paid to
distinguishing characteristics such as
scars, tattoos, missing fingers, etc.
Many law enforcement agencies rec
ommend motion picture surveillance
systems, such as Mosler Photoguard
which provide a complete photograph
ic record of the robbery.
Points to Remember
After the holdup, an attempt should
be made without undue risk to note
the means of escape. This should in-
23
>
problem in Maine
(to provide complete safekeeping o f securities)
solution in New York
( through Chase Manhattan)
I he banker in M aine— or anyw here— w h o wants to use his staff m ore effectively
gets real help from Chase Manhattan. Our Correspondent Safekeeping Departm ent
is devoted exclusively to providing essential services you m ay prefer to have per
form ed outside you r ow n bank. T h e Departm ent does m ore than m erely keep
securities. It detaches and collects coupons, receives and credits dividends, collects
called and m aturing obligations, notifies o f exchange privileges .. . handles m yriad
tim e-con su m in g details. Result: safety and service for your securities. . . freedom
for you r staff to devote to other matters.
W h erever y o u are, whatever y o u r correspondent banking need, call on Chase
Manhattan, N ew York. R em em ber—
M ost U. S. hanks that have named a N ew York correspondent rely on
the people at Chase Manhattan
Daniel A. Cahalane, Assistant
Vice President, will be glad
to discuss the safekeeping o f
your bank's securities, too.
Call him at 2J2-LL2-4894.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE CHASE MANHATTAN BANK
1C hase M anhattan Plaza, N ew Y ork15, N.Y.
f|
Member Federal Deposit Insurance Corporation
Northwestern Banker, June, 1963
24
elude license number, make of car
and the direction taken.
Police should be promptly notified
and given a description of the robbers
and information on the getaway.
All customers and other witnesses
should be detained until the arrival of
police and the FBI. Customers and
other unauthorized persons should not
be allowed in restricted sections of
the bank.
The area of the actual holdup
should be isolated and protected to
preserve evidence such as notes and
fingerprints.
One bank official should be desig
nated to give information to the press
and no one else should make any
statements. Names and addresses of
employees and other witnesses should
be withheld to protect them. No in
formation about amounts of money
overlooked, locations of cash or peak
cash days or times should be given
out.
Some Banks like us to review their portfolios
others ask us to check their clients' holdings.
HOW CAN W E BEST SE R V E Y O U ?
W ith our broad knowledge o f the
municipal bond m arket and our
l o n g experience in analyzing
bank portfolios.
B y calling your attention to the
many new municipal bond issues
we underwrite.
By buying and selling municipal
or corporate bonds fo r you or
your clients.
By buying and selling (as a deal
er or principal) bank, insurance
and other unlisted stocks fo r you
or your clients.
B y underwriting or distributing
large blocks o f securities fo r you
or your clients.
/Ä \
By prom ptly executing your or
ders to buy or sell securities
listed on the New Y ork Stock
E xchange or any other m ajor
stock exchange.
By prom ptly executing your or
ders to buy or sell com m odities
on the Chicago Board o f Trade
or any other im portant com m od
ity exchange.
By arranging a m erger fo r you
or your clients.
For fa st service, ju st pick up the
telephone and ask fo r John Middlemist, Rick Cronin or Bob Pet
erson.
P a in
• J a c k s o n & C u r t is
MEMBERS OF THE NEW YORK STOCK EXCHANGE
Pillsbury Bldg., Minneapolis 2, Minn.
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Security Is Good Insurance
A good security program coupled
with regular employee training ses
sions can be good insurance against
holdups. But, to make the program
effective, everyone must adhere to se
curity procedures at all times.
To help you with your security pro
gram, The Mosler Safe Company of
fers a booklet entitled “Your Bank’s
Hold-Up Prevention Program,” which
may be obtained by writing to The
Mosler Safe Company, 320 Park Ave
nue, New York 22, N. Y.
Olinger Joins Tulsa Bank
Kenneth C. Olinger, long-time na
tional bank examiner, has joined Tul
sa’s First National Bank and Trust
Company, F. G. McClintock, president,
announced recent
lyM r. O l i n g e r
joins the bank as
vice president and
has been assigned
duties in the com
me r c i al depart
ment. The new
v i c e pr e s i de nt
c o me s to Tul sa
f r o m Cleveland,
Ohio, where for
the past seven weeks he served as
acting chief examiner for the fourth
national bank region.
Mr. Olinger started in banking in
1949 with the First National Bank of
Tekamah, Neb. He became an assist
ant national bank examiner in Ne
braska in 1951 and was promoted to
the position of national bank exam
iner in 1957.
25
THE NEW YORK BANKER WITH THE HOMETOWN TOUCH
He covers 26,000 miles a year for Chemical New York and you.
He can bring New York’s money market to your Main Street
This is the man who proves a bank
can be one of the world’s largest with
out being stuffy about it. He’s from
Chemical New York.
He brings you a brief case full of
benefits—all the resources, the expe
rience of his 5-billion-dollar bank.
His bank is strategically headquar
tered in New York’s financial center.
It gives him the contacts and capabil
ities to make any financial operation
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
run more smoothly. His bank does busi
ness in every one of the 50 states and
in more than 100 countries overseas.
His bank has him specialize in your
area. So he can put his finger on the
fastest and best way of getting things
done for you. That’s why people call
him “ the New York banker with the
hometown touch.” Why don’t you
call him? Chemical Bank New York
Trust Company, New York 15.
C h e m ic a l
N e w ïo r k
Northwestern Banker, June, 1963
D isp la y P r o m o te s S eed leonas
all makes ~
office
equipment co.
DISPLAYS
20
EXCITING
MODEL
OFFICES
A FINE PROMOTION idea to assist farmers as well as feed dealers was staged
at the Roberts County National Bank in Sisseton, S. D. On display in stacks
the full length of the bank were 12 varieties of hybrid seed corn and various
types of fertilizers and forage seeds. These were all brands handled by dealers
who do business in the Sisseton trade area. A sign with the display read:
“ ME. FARMER
1. Buy Good Seed
2. Properly fertilize
3. Use Our Bank Financing”
Farmers desiring to take advantage of the offer were able to step over to a
loaning officer’s desk and complete the necessary arrangements while they were
in the bank.
In v e s tm e n t
the largest
and most complete
Sales & Service
Facilities in
the midwest
Choose from equ ipm ent and fu r
niture in every price range, from
fu n c tio n a l b u d g e t to d e s ig n e r
styled custom built models. All
M a k e s o ffe rs c o m p le te o ffic e
design and d e c o ra tin g c o u n s e l
to h e lp you p lan new b a n k in g
facilities or rem odel your present
offices.
2 5 5 0 FARNAM
OMAHA, NEBR.
Phone 3 4 1 - 2 4 1 3
Write or Call Collect
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
most successful Annual Frolic
T HE
and Field Day to date was expe
rienced by the Nebraska Investment
Bankers Association last month at the
Omaha Country Club as more than
200 investment bankers were on hand
to participate in the activities.
A special social hour and dinner
honored out-of-town guests the eve
ning before the Annual Field Day and
this was held at the Omaha Club.
The big day at the Country Club
was cool and windy at times, but did
not discourage a record turnout of
golfers and trapshooters.
Practically everyone who played
golf received a prize and two main
winners in the trapshoot tourney were
given prizes. Trapshoot winners were
Harold Hultman, of Harold H. Helme
Company, Omaha, first, and Don L.
Miller, of Burns, Potter & Company,
Omaha, second.
As many as 50 outstanding door
prizes also were given, this event fol
lowing the Annual Banquet near the
end of the day.
Herbert H. Davis, Jr., of Kirkpatrick-Pettis Company, Omaha, was gen
eral chairman and his co-chairmen
were Bert Reed and Thomas C. Kinsler, Jr., both also of Kirkpatrick-Pettis.
John J. Bohrer, of Chiles & Com
pany, was chairman of the invitations
H a u lie r l* « i/
committee; Tim Slattery, of Merrill,
Lynch, Pierce, Fenner & Smith, chair
man for golf; Bill March, of Robert
E. Schweser Company, c hai rman,
Squawk Exchange; Cecil Slocum, of
Walston & Company, chairman, Cal
cutta; L. C. “Jack” Petersen, of Harold
H. Helme & Company, chairman for
prizes; Charles Heider, of Storz-Wachob-Bender Company, chairman, gen
eral members’ tickets.
Officers of the NIBA taking an ac
tive part are: Eli Eisele, of Eisele,
Raynor & Fisher, president; Joseph
Kadlacek, of Smith, Polian & Com
pany, secretary, and E. M. Hunt, of
First Nebraska Securities, treasurer.
Chemical Bank in Paris
Chemical Bank New York Trust
Company has opened its first Euro
pean Representative Office at 12 Place
Vendome, Paris, according to Harold
H. Helm, chairman.
The new European office, in the
center of Paris, will be under the
direction of Robert Simpson, Euro
pean representative, and Julian H.
Brooke, assistant European represent
ative, who will offer counsel and
assistance to businessmen already in
western Europe and to those who
plan to locate there.
H O W TO TURN
R E M O D E LIN G
PROBLEMS
INTO
For hundreds of banks, remodeling has been amazingly successful.
But for some, it’s been a first-class headache, even a financial debacle.
They ran into hidden construction faults . . . or found that plans which looked
so good on paper didn’t work out. During remodeling, operations of many were
hamstrung by poorly-timed materials and construction programming. The only
practical approach: choose a specialist who knows bank remodeling.
U n p a r a lle le d e x p e r ie n c e — 5 0 y e a r s ’ w o rth
To get the job done right, consult Bank Building Corporation before you make
plans. W e’ve remodeled hundreds of banks— everything from creating an extra
floor from existing space to rebuilding huge downtown structures. Regardless
of size, your plans will be created by the country’s top remodeling experts. Their
know-how moves your project ahead faster, quickly overcomes problems, keeps
business operating as usual. . . and assures the best possible quarters for your
investment. Interested? Let’s talk it over soon.
j||jllH M | r 1§K
lj||
L
/
J
? Says W . G. Boies.
president. The
Colonial Bank &
Trust Co.,
Waterbury, Conn.:
"C olon ia l's w as not an easy project.
W e had to continue using our building
during a tw o - y e a r period o f m ajor
rem odeling. Thanks to Bank Building
C orporation's efficien t program m ing ,
w e w ere able to operate as usual
all during construction. The design
they gave us not only enabled us to
stay in downtown W aterbury, it also
greatly streng th ened our com petitive
position h e r e ."
aw
JU S T O UT!
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New money-saving, photo-filled digest of
nation-wide bank remodeling experience.
“ HOW TO TA KE TH E R IS K OUT OF
REMODELING’’
Invaluable building lessons gained from
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WRITE TODAY for your complimentary
copy of this informative new book.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
St. Louis, 1130 Hampton Avenue
A tla n t a
•
C h ic a g o
•
D a lla s
•
N ew Y o rk
*
S a n F r a n c is c o
28
Seruud
F itA
second precedent making un
T HE
derwriting of a FHA insured bond
issue has been announced by the B. C.
Ziegler and Company, West Bend,
Wis., originators of the program. The
company has major offices in New
York City, Chicago, Minneapolis and
St. Louis.
The $1,249,900 bond issue is for the
Washington Baptist Convention Re
tirement Homes, Inc., near Seattle,
Wash. Proceeds are marked for the
completed construction of the 79 unit
non-profit. Judson Park Retirement
scribed 24 hours after it
in su r viturni
issu
nounced.
Thee enthusiasm
Home overlooking Puget Sound.
In marketing the latest issue the
50-year-old West Bend based firm con
tinues to be the exclusive underwrit
ing firm processing the FHA insured
bond issues on a nationwide basis.
Three months ago, the Ziegler firm
brought out a $3,504,900 issue to finance
a home for the elderly on behalf
of Presbyterian Ministries, Inc., at Se
attle.
D. J. Kenny, Ziegler president, said
“The FHA insured offering three
months ago was he a v i l y oversub
was an
of quali
fied purchasers of such prime mer
chandise indicates a ready acceptance
of future FHA insured issues.”
The Ziegler announcement said the
Judson Park underwriting has a top
interest coupon rate of 5.10 per cent.
The bonds are priced to produce a top
yield of 4.95 per cent.
Mr. Kenny said that since his firm
introduced FHA insured underwrit
ings to the market three months ago,
negotiations involving $20,000,000 are
in process for offering in the near
future.
New Verifax Copier
For volume, profits, selling h e l p . . . write
ONE
COMPANY*
A new easier-to-maintain Verifax
Signet Copier, which yields uniformly
high-quality, low-cost copies has been
announced by Eastman Kodak Com
pany.
Verifax Signet Copier, Model C-K,
features a new copy paper deflector
• SMP (Special Multi-Peril)
INCLUDING
. Optional BOILER Coverage
. . . Comprehensive CRIME
with the same truly multiple-line
company that specializes in
• WORKMEN'S COMPENSATION
Build your commercial business with EMC!
Skilled in handling SMP exposures; 50 years'
specialized commercial experience. Branch of
fices coast to coast. Safety engineering service.
Trained field men, underwriters, adjusters, help
you sell and serve your clients. And you offer
not only the package saving, but also the added
savings of competitive mutual rates ordividends.
Write our Agency Department.
MUTUAL CASUALTY COMPANY
HOME OFFICE — DES MOINES 7, IOWA
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Verifax Signet Copier, Model C-K.
and pressure roller assembly system.
Appearance of the new copier,
which replaces the Verifax Signet
Copier, Model B, has been improved
with a twin-column lamp support.
The Verifax Signet Copier, Model
C-K, is designed to meet copying
needs of both small offices and large
companies with multiple-copier in
stallation programs. It is now avail
able at Verifax dealers. The price
is $187.50.
Honor 50-Year Veterans
Four staff members were honored
for completing 50 years of service with
First National Bank in St. Louis at
the bank’s annual 25 Year Club ban
quet last month.
They were Fred J. Sudekum, vice
president and comptroller; Clarence
J. O’Heron, manager of the bank’s
international department; Edwin F.
Meyer, home loan department, and
Frank J. Milligan, discount depart
ment.
29
The Agricultural Banker’s Bank SIN C E 1868
YOU CAN DEPEND ON
THE MEN OF
LIVE STOCK
Joe Lisek is a good man to have working for
you on transit items, safekeeping — you name
it. A traveling Vice President, Joe gives that
personal touch to every correspondent assign
ment and gets things done— thoroughly. You
can depend on Joe—and the men o f Live Stock
— to give you individual attention and expe
rienced help on all of your correspondent
requirements.
N o w in our 95th year, Live Stock National is
big enough to serve you, small enough to serve
you as though you were our only customer.
r ife
LIVE STOCK
rj\a/fena/BANK
AT THE MAIN
ENTRANCE TO
C H IC A G O 'S
U N IO N
4150 South Hoisted Street, Chicago, Illinois •
M em ber
Fe d e ra l
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
D e p o s it
In s u ra n c e
STOCK YARDS
Phone YArds 7-1220
C o rp o ra tio n
Northwestern Banker, June, 7963
The franc is local currency in France.
So is this.
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Travelers Cheques with confidence, knowing
they're local currency anywhere in the world.
For you as a seller, they have special ad
vantages: they’re pre-packaged and MICR
coded for electronic handling (you minimize
overhead, receive even faster claims service).
They’re insured by the Federal Deposit In
surance Corporation as a deposit. And your
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of A m erica’s computers anticipate your
needs, keep you supplied automatically.
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BANK OF AMERICA TRAVELERS CHEQUES
One South Van Ness, San Francisco 20, California
S A N K OF AME RI C A N A T I O N A L T R U S T AN D SAVI NGS A S SOC IAT I ON * ME MBER F ED E RA L DEPOSI T I N S U R A N C E CO RP OR A TI O N
Northwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
31
Lu 8 8 t h Congress
E x p lo s iv e
B its B an k
H earin gs
F ifth in a Series W ritten fo r
The N O R T H W E STE R N B AN K E R
By U. V. W ILCOX
Political Analyst
Washington, I). C.
ANKING problems and situa
tions exploded during the last
month in hearings on disputes
as between the activities of Comptrol
ler of the Currency James J. Saxon
and the Independent Bankers Asso
ciation. The National Association of
S u p e r v i s o r s of State Banks was
brought in as an interested party to
differences which had developed over
the chartering of many new national
banks, branches, and mergers.
Meanwhile, the President’s Report
on Financial Institutions was issued.
The 66-page document dealt with a
variety of banking problems, with no
firm recommendations except as re
spects the increase in insurance of
accounts from $10,000 to $25,000. A
bill is before the House Banking Com
mittee to this end.
The President advocated that stand
by controls be legislated before such
an increase be made effective. The
savings and loan industry urged the
higher insurance but indicated that
standby controls were questionable.
The banking world was divided over
the increase. The American Bankers
Association opposed it, as did New
York Clearing House banks, while
FDIC Chairman Erie Cocke, Sr., ap
proved and presented data to show
that the higher premium costs would
be nil. So also did Federal Home
Loan Board Chairman Joseph P. McMurray.
There were, too, hearings to set up
a Federal Bank Commission to control
B
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the supervising and regulation of all
banks. Also another bill that would
merge the Federal Deposit Insurance
Corporation and the Federal Savings
and Loan Insurance Corporation.
On these bills no decisions out of
the House Banking Committee have
been reached. The Committee has
been too busy considering the bills
and disputes to hold meetings and
take votes. However, it is very ap
parent that no early decisions are like
ly. There was no uniformity in the
testimony of bankers and the savings
and loan industry on the bills.
I BA Makes Charges
The week-long consideration of the
complaints of the Independent Bank
ers Association was unique in Con
gressional history. There was no bill
to discuss, just complaints. The Inde
pendent Bankers, by resolution at
their recent convention, had appealed
to House Banking Committee Chair
man Wright Patman for an airing of
their views. They had also asked for
the resignation of the Comptroller.
First, the officials of the IBA pre
sented their case. There were vehe
ment words and pointed comments.
There was also some name-calling
such as “czar” and related words on
Mr. Saxon’s attitude and his over-rid
ing of long-established cooperation be
tween state and national bank super
vision through administrative rulings
and decisions. The preservation of
the dual banking system was the
theme of their complaints.
Officials of the National Association
of Supervisors of State Banks cited
lack of cooperation with their offices.
They, as did the IBA, paraded a series
of incidents in proof of their com
plaints.
Committee Chairman Patman in an
opening statement said that what all
wanted was an “efficient, competitive
banking system,” and “fair laws and
administrative rulings,” and the pres
ervation of the dual banking system.
Saxon Responds
Mr. Saxon was given his day before
the committee and before a standingroom only audience. He presented
his case saying that he sought only to
better serve the expanding economy
of the nation with more banks. He
referred, but not specifically, to re
gions where new banks were opposed
which he held was wrong. He did not
attack the dual banking system but
inferred that it could be improved
with more state chartered banks.
He supported the regulation of en
try of banks but struck out against
“stagnant and unprogressive banks.”
He admitted that there is a conflict
between national authorities and in
some regions where there was a par
celing out of the financial markets to
avoid competition. He praised the
state banking system.
Mr. Saxon was supported by four
national bankers who praised him for
his progressive oper at i ons. They
struck back at the Independent Bank
ers for some of their statements. More
national bankers asked to testify on
behalf of the Comptroller but the
Banking Committee had other hear
ings schedules.
Chairman Patman Comments
Mr. Patman said in a letter which
he sent to his constituents that “some
of the most serious questions raised”
during the hearings were not yet an
swered, but on one point the CompBANK HEARINGS . . .
(Turn to page 50, please)
Northwestern Banker, June, 1963
Willi Banker Financing
F eed ers Fun Field W a reh ou se Futile
HE gamut as diverse as that sug
gested by Lewis Carroll is noth
ing new to the Lawrence Ware
house Company, recognized as the
country’s largest field warehousing or
ganization. Its warehouse receipts
have covered a similar gamut and
now cattle in commercial feedlots can
be added to the commodities that Law
rence has collateralized, including hay,
barley and feed supplements.
T
A Typical Case
A typical case history is that of
Charlie O’Brien. Three years ago,
Charles M. O.Brien, a former San Jose,
Calif., candy manufacturer who 12
years before sold his business and
took up cattle farming instead, de
cided he had to do something to ex
pand his commercial feedlot if he was
going to make any money.
At the time, Mr. O’Brien, owner of
the O & B Cattle Company, Gonzales,
Calif., had about 6,000 head of cattle
in his feedlots, but his capital re
stricted him in the number of cattle
he could handle for his customers and
prevented him from expanding.
At the suggestion of one of his cus
tomers familiar with field warehous
ing, Mr. O’Brien approached his bank
and the Lawrence Warehouse Com
pany. Utilizing the field warehouse
method of financing his operations,
Mr. O’Brien was able to increase his
feedlot capacity to 17,500 head of cat
tle, with a feed mill capable of han
dling many more. Although, he said,
not all his growth occurred since the
feedlot was set up as a field ware
house under Lawrence’s control, Mr.
O’Brien indicated that continued rap
id expansion would not have been
Northwestern Banker, June, J963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
possible under any other financial ar
rangement available to him.
Other Feedlot Warehousing
Mr. O’Brien’s success story is sim
ilar to others occurring all over the
country, especially in other parts of
California, Idaho, Kentucky, Iowa,
Virginia and Florida, where The Law
rence Company operates field ware
houses on commercial cattle feedlots.
Officials of The Lawrence Company
see commercial cattle feedlots as big
business for the field warehousing in
dustry. Evidence of this is seen in
the growth, which since 1945 when
the United States had some 4,324,000
head of cattle in feedlots, has in
creased 175 per cent to 7,587,000 head.
Inventories range from a few hundred
head to as high as 36,000 in some
yards.
Due to the nature and generally
high value of the inventories involved
—cattle, and feed components—most
banks have been confronted with the
problem of meeting the financial
needs of their customers and at the
same time assuring themselves of the
necessary security for such loans.
Interest Is Growing
Although large numbers of loans on
cattle are still covered by chattel
mortgages, in most every section of
the country the growth of interest in
the use of field warehousing for this
purpose, being shown by feedlot oper
ators and bankers alike, reflects a
growing awareness of the several ad
vantages that field warehousing holds
over the chattel mortgage in this ap
plication.
First, borrowing power is usually
much greater when warehouse re
ceipts are used. Second, field ware
housing provides an orderly, syste
matic and continuous financing pro
gram. What is more, it has the ad
vantage of being more flexible. Since
a payment against the loan is required
when warehoused merchandise is re
leased, the loan is reduced at the same
rate as the inventory. On the other
hand, when stocks must be built up,
the warehouse receipts issued to cover
this increase provide the additional
working capital needed to process the
larger inventory. Third, warehouse
receipts can also be issued to cover
products used in the manufacture of
feed. This enables the feedlot opera
tor to take advantage of large lot dis
counts and make advantageous pur
chases at l o we r pri ces. Finally,
monthly IBM reports facilitate the
maintenance of accurate inventory
records. These reports go to both the
feedlot operator and the bank or other
lending agency involved, and provide
a reliable and orderly record of activ
ity in the operation.
Methods of inventory control and
operating procedures will vary, of
course, depending on circumstances,
for each installation is “custom fitted”
to the requirements of the customer’s
business.
Costs Are Nominal
The costs of field warehousing are
nominal when compared to the bene
fits to be derived from its use. They
vary somewhat, of course, depending
on such factors as the value of the
FIELD W AREHOUSE CATTLE
(Turn to page 52, please)
33
IDEAS FOR BUILDING
AND REMODELING
P o in ts
to
c o n s id e r
. . .
When Yon
Remodel
Or Build
“ Professional planning groups serve an excellent purpose. They can take a
big load off your shoulders, but they must still be guided by your decisions as
to which of several alternatives will be followed.”
HE basic reason for remodeling
a bank or building new quarters
is encompassed in the fact that
the bank is striving for more and bet
ter services to those customers.
Things to keep in mind to accom
plish these goals were outlined recent
ly for bankers attending the 12th
Northern R e g io n a l Convention of
NABAC, The Association for Bank
Audit, Control and Operation by How
ard L. Bauder, vice president, Pueblo
Savings and Trust Company, Pueblo,
Colo.
T
Lighten the Load
“At least one official of each bank
represented here has, at one time or
another, been approached by a profes
sional planning group,” Mr. Bauder
said.
“ They serve an excellent purpose.
They can take a big load off your
shoulders, but they must still be
guided by your decisions as to which
of several alternates will be followed.”
It is imperative, Mr. Bauder said, that
there be some central group within
the bank with the responsibility for
the building program and the power
to make decisions.
“ This is not to say that this group
should not look beyond its own mem
bership for counsel when planning or
making decisions . . . you will be sur
prised at the keen analysis Susie, the
bookkeeper, may have of a problem in
the bookkeeping department.
“My only admonition to you is to
be careful that all members of your
staff are acquainted with your prog
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ress. Don’t carry your building com
mittee security too far. Make provi
sions for periodic meetings or written
progress reports at which time you
bring everyone up to date.”
tinued, is that period before a pencil
touches the paper, that period when
the group responsible for the new
building is collecting ideas. “One
banker of my acquaintance visited
over 200 financial institutions from
Employees Important
which he gleaned ideas.”
It will result, he explained, in mak
For the operating man, Mr. Bauder
ing everyone feel it is their project added, this is also an excellent time to
and will also enable employees to clean house. “ Study your present sys
answer customer q u e stio n s about tem, study the flow of work, and find
progress.
out if you are doing the best job pos
Another important member of the sible. Are some of your practices dic
new building team, Mr. Bauder said, tated by your present quarters? Get
is the architect and he should be the a fresh look at your operations, clean
best available. “However, may I sug them up, move your office to a more
gest that the hometown architect, no advantageous spot. Put your high
matter if he is one of your customers, activity tellers near the door. Use
may not be your best choice. Be sure showmanship in setting off depart
that your architect has the imagina ments of your bank.”
tion to give you a design of which you
Mr. Bauder also emphasized that
will be proud.
the difference between an ordinary
“ Our architect made a statement building and an outstanding one can
upon the occasion of our first meeting be in the materials. “Don’t limit your
which I believe is significant, and self to those materials which are avail
should be the basis for understanding able in your area or your state. Look
in your building program. He said for something different to set your
that he knew nothing about banking building apart. The time of the mar
and we should never allow him to put ble palaces is past. Another field
in anything which would not be func where a great deal can be done is to
tional. By the same token, he said look to your lighting.”
that he expected to be the final au
Plan Traffic Flow
thority on architectural matters. From
one whose taste is all in his mouth,
Plan teller operations for easy ac
believe me when I say that you must cess to records, allow for expansion
take the good advice of your architect without major s tr u c tu r a l changes,
on many matters.”
have the flexibility to allow for expan
sion or contraction of tellers to take
Collect Many Ideas
The most important time in a bank
building program, the speaker con
POINTS TO CONSIDER . . .
(Turn to page 79, please)
Northwestern Banker, June, 1963
34
IDEAS FOR BUILDING
AND REMODELING
Funethm al
Mr. Klein is a recognized
authority on space engineering and
interior and exterior planning and
design in the banking industry.
In its half-century of operation,
his firm has completed more than
3,800 projects and has become
the nation’s largest firm specializ
ing in the planning, design and
construction of financial buildings.
O TWO banks are alike. Each has unique problems
affecting building design, layout and operations.
Community characteristics, customer services to
be offered, specific banking habits of the customers them
selves and the bank’s own objectives are weighty factors
which must be considered when mapping out a sound
building or remodeling program. Fortunately, though,
there are some rules of thumb which are pertinent to
any institution in any section of the country.
The requisite of attracting and holding customers is
one which necessitates the engineering of bank opera
tions to customer service innovations. After all, service
is every bank’s forte. But providing services without
profit is obviously bad business. Thus, the primary ob
jective is to tap the local market for more of the available
deposits.
To achieve this objective we offer the case for func
tional planning and design of banking quarters. And,
since we’re sincerely interested in the local depositors,
let’s deal with their needs and conveniences first.
N
Two Specifics
Applying “common sense” planning and design tech
niques to banking facilities involves two specifics—the
function of merchandising and the function of operation.
In the case of the former, banks should develop a
merchandising area which you might literally call a “su
permarket for money.” Items most interesting to the
customer should be made the most convenient for him.
And why not—public space is the area he’s free to use
and consequently considers his own. His satisfaction
with these facilities is what makes him call YOUR bank
HIS bank. At the pre-planning stage, careful considera
tion to design, decor, space allocation and operation lay
out will provide the traffic building ingredients of com
fort and convenience.
Since the teller’s fixture dominates focal attention and
receives most traffic it should extend the warmest wel
come. Friendly tellers behind low, open counters, where
personal contact and a degree of privacy prevail, can be
come your most important public relations asset. But
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Written Especially for
By EARL
T. KLEIN,
even your most able teller cannot function properly if
rear counter planning and design are slighted.
Rear Counter Work
At this point, let’s discuss the function of operation in
general—the end result of which provides savings in per
sonnel, motion and equipment expense—and rear counter
work in specific. Rear counter layout, of course, stems
from individual bank needs. But certain portions of any
back counter installation are common to all projects.
Functional planning and design of rear counter work
starts with these factors:
1. Window Machine Use—This is an extremely impor
tant item for the designer who must know whether the
bank has now, or plans to install future window ma
chines. In either case the manufacturer must be known.
2. Storage and Handling—What are the requirements
for forms, supplies and money wrappers?
3. Coin and Currency Dispensing Methods —Are over
night coin safes necessary or is an omnibus required to
transfer currency trays to vault?
4. Fixture Integration to Floor Plan—The plan must
evaluate fixture planning and placement as related to
rear work areas containing signature card files, ledger
tubs, note storage and, in some cases, drive-up windows
and their component counters.
5. Use of Pneumatic Tubes or Closed Circuit TV —As
with window machines, the current or projected use of
these units bear on design thinking.
Space and Fexibility
Inherent in all functional planning are accommodations
for space and flexibility. In thinking of space, we must
know what is necessary for current needs as well as what
is required in the future. Initially, the functional use
of space means each department receives adequate work
area and that inter-departmental arrangements are log
ically situated so as to effect the most efficient merchan
dising and operational network possible.
Future space plans will allow for internal rearrange
ment and adjustment through a combination of design
and construction techniques.
35
-*
►
P lanning and the B an k Im a g e
The NORTHWESTERN BANKER
I ice President, Bank Building <£ Equipment Corporation of America, St. Louis, Mo.
We develop flexibility into functional planning by posi
tioning permanent facilities—vaults, plumbing, load bear
ing walls, etc.—where they will not interfere greatly with
future revisions.
Add Flexibility
Some construction techniques which add flexibility are:
1. Cellular Flooring —Equipped with pre-installed race
ways and conduit provides an almost unlimited source
of electrical outlets.
2. Movable Partitions —When practical, allow easy revi
sion of office groupings to meet new demands.
3. Pre-Installation of H eavy Duty W iring —Eases the
burden of future loads brought on by automation.
4. Built-lt Duct W ork —Provided in ceilings adds air
conditioning capabilities possibly not required at the out
set.
From Inside Out
Briefly, then, initial planning should contain the factors
of interior space and flexibility. And, since we build
from the inside out, customer comfort and service must
receive precedence through attention to public areas.
This, of course, does not mean we should slight the ex
terior. As mentioned previously, the need for quarters
that attract and hold customers is vital. Today you must
attract the business before you can hope to secure it.
In this connection, functional planning of drive-up
units and parking space helps to establish the bank and
its site as a single entity. Banks need a personality—
one that will appeal to a majority, but still be dynamic
enough to set them apart from competition. This is par
ticularly true for banks with extensive branch operations.
To borrow a word currently in vogue, banks need an
image.
An “image” grows and is nurtured by the bank’s ability
to draw new business and its success in maintaining pres
ent business—through merchandising and operation.
These few observations concerning the development of
an efficient, flexible plan and design program are some
of the means to a beneficial end . . . an increase in depos
itors.— End.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
EXTERIOR DESIGN helps a bank establish a personality or
image. Styling should appeal to the majority but be dynamic
enough to set the building apart from competition.
CORNERSTONE for an efficient operation is functional rear
counter installation. Today’s units are custom designed and
engineered from time and motion studies.
Northwestern Banker, June, 1963
o
36
Q
O
IDEAS FOR BUILDING
AND REMODELING
O
o
o
%
o
o
o
o
o
4
o
N eed for
M o r e Spare i s R eason
Continued Ranh
R
o
o
o
A NORTHWESTERN BANKER
Survey
o
o
PRESSING need for increased
space was the principal reason
given by a majority of banks
who have completed new building or
remodeling programs in the past 18
months. This was one of the facts
brought out in a study of 24 selected
banks in six upper midwest states con
ducted by the Northwestern B anker.
All of the 24 hanks except two were
below $10 million in deposits, in a
range down to $1 million deposits.
One bank had $30 million deposits and
another $20 million deposits, and these
were included to see what might be
done differently by a larger bank than
the majority included in the survey.
It was interesting to note that the
two larger banks reported building
suggestions and results almost identi
cal to what the majority of the other
22 banks listed.
A
Most Popular Feature
The first part of the study asked
bankers to name the feature of the
new quarters that has proved to be
the most popular with customers and/
or employees. Most of them listed the
particular a d v a n ta g e of increased
space, with half of them specifically
referring to advantages of more lobby
space and private office space for con
sultation with customers.
Several other features that drew
specific comment were: drive-up win
dow, air conditioning, lighting, park
ing, and improved working conditions
for work flow and employee conven
ience.
Typical of the comments on this
point are the following:
Norfhwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
Iowa bank, $2 million deposits: “ Sep
arating the bookkeeping department
from the main area of the bank, mak
ing it quieter, has been a big help to
our staff. Customers also like a pri
vate office and a booth where they can
take their safe deposit box. Custom
ers also appreciate our parking lot.”
South Dakota, $5 million deposits:
“ Renovation of our entire bank inte
rior has brought about the admiration
and good will of our bank customers.
New counter and teller facilities help
to speed up the work at the counter
and provide space for more customers
to be served at one time. Our lighting
facilities are greatly improved, and
new air conditioning makes pleasant
working conditions for the summer
season.”
Iowa, $6 million deposits: “ Custom
ers enjoy the added room with more
teller windows and take pride in do
ing business in a new, modern bank
building. Employees enjoy all the
modern conveniences — central heat
ing, air conditioning, lighting, more
space for filing and pleasant surround
ings.”
Direct Benefits
The second part of the study deal
ing with the experience of these 24
banks dealt with any direct benefits
noted from the completion of remodel
ing or a new building. While only a
few gave specific percentage figures
of deposit growth experienced in the
year following completion of the build
ing job, 19 of the 24 stated they defi
nitely had increased deposits and in
creased lobby traffic bringing in new
customers.
One bank has noted a 25 per cent
increase in deposits, some of it due
to other area reasons, two banks have
had a 15 per cent increase in deposits,
another reports a 10 per cent increase
in one year. Two banks say deposits
are up $200,000 each, and one Iowa
bank says its deposits went up $1 mil
lion in the nine months following the
opening of the new building. Thir
teen of the responding bankers merely
listed under direct benefits, “Deposits
growing,” ranging from slight gain to
appreciable gain. Two banks say they
see no direct benefits from the build
ing program and one had no comment.
In addition to the gain in deposits
and new customers, bankers listed
these other benefits — 14 specifically
stated that employeee morale is much
higher, eight said their old customers
are more satisfied, two banks have
noted an increase of job applications
(one has a waiting list of job appli
cants), and one bank said it also has
had an increase in its insurance busi
ness.
Bankers’ Comments
Following are comments of a few
bankers on what they feel are the
direct benefits from completion of
new quarters:
Minnesota, $3.5 million: “ Increase
in deposits, happy customers and em
ployees. We are constantly compli
mented on our new building and cus
tomers say they love to come in.”
Iowa, $1.6 million deposits: “Depos-
37
50 YEARS SERVICE
TO LOAN OFFICERS
each warehouse location.
| Clerical detail is reduced to a
minimum by the Lawrence IBM Loan
Officer’s Monthly Collateral Report.
| An e x p e rie n ce d and h ig h ly
trained staff of field men operate the
famed Lawrence System.
For fifty years Law rence on fie ld
warehouse receipts has been a symbol
of distinguished service to banks. During
this half century Lawrence warehouse
receipts have been held by thousands
of financial institutions as security for
inventory loans on virtually every prod
uct and commodity that could be stored
or counted.
Loan officers know:
| They are assured maximum pro
tection by our Lloyds’ bond coverage,
totaling in excess of 2 million dollars at
These are a few reasons why Lawrence
has led the field for fifty years, and why
...w h e n inventory is an a s s e t... loan
officers look to Lawrence as a partner
in successfully resolving the problem of
collateral.
T h e L a w r e n c e Co m p a n y
m
NAT IO NW IDE
mmmmmm field
WAR E HOU S IN G
San Francisco • Chicago • New York
Denver
O FFIC E S IN ALL PRIN CIPAL CITIES
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Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
38
N eed fe r M itre Spare . . •
its are up and customers and employ
ees enjoy banking and working condi
tions in the new quarters. We find
new quarters stimulate new business.”
Iowa, $8 million deposits: “We oc
cupied our new building in November,
1962. Deposits have shown a definite
increase since that date. Both cus
tomers and employees constantly ex
press a high degree of pleasure regard
ing the building. Since the change of
locations was from a near ‘deplorable’
condition to an ultra-modern struc
ture, it has been a pleasant experience
for all concerned.”
Minnesota, $4 million deposits: “De
posits up 15 per cent from May open
ing to end of year 1962). Customers
often bring in friends and relatives to
see ‘their’ bank. Happier employees
—increase in job applications.”
Colorado, $3.4 million deposits: “ The
spacious lobby is enjoyed by the cus
tomers. The background music is en
joyed by all. The deposits have only
increased about $200,000; however, we
have had adverse conditions in crop
production and livestock feeding.”
Iowa, $8.6 million deposits: “ Million
dollar increase in deposits from date
moved in (August 6, 1962) to May
3, 1963. We have an ever increasing
number of new customers, and we
have a waiting list of people seeking
employment.”
Building Advice
The third part of the survey asked
these bankers: “What advice do you
have for other bankers who are plan
ning a building or remdeling pro
gram? Several items mentioned for
suggested points of comment were
architects, contractors, location, park
ing, flooring, etc. Half of the 24 bank
ers interviewed emphasized the im
portant need to allow plenty of time
for advance planning.
One banker said his bank’s building
program was commenced only after
agreement by management and direc
tors on exactly what should be done.
Five bankers urged others considering
a remodeling or building program to
take the time to visit as many other
banks as possible to get their ideas be
fore making a definite decision as to
size, style and layout.
Slightly more than half, 13 of the 24
interviewees, suggested the use of an
architect, and three of these specifi
cally said a banker should employ an
architect or bank building firm with
an architectural staff that has experi
ence in constructing banks.
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
“Your architect is most important.
Plan out the efficiency of the work
There was some difference of opin space. Having the work room away
ion in smaller communities as to em from the teller area is a boon to both
ployment of an architect and/or a customers and employees. Free park
general contractor. Most of the re ing and drive-up teller are most im
plies specifically covering this phase portant. Excellent lighting and air
of preparatory work went the archi conditioning improve efficiency.”
* * *
tect route, and then sublet to a gen
“ 1. Visit other banks for ideas be
eral contractor or contracted directly
fore contacting an architect. 2. Use a
themselves.
Other suggestions for bankers con contractor who has exeprience with
bank building. 3. A corner lot loca
sidering a similar undertaking dealt
with matters subsequent to the design tion is most desirable. 4. Ample park
period, and out in front for the num ing close to bank doors is an asset for
ber of comments here was air condi customer relations and convenience.
tioning (mentioned 14 times), good 5. A community room would be nice
lighting (mentioned 12 times) and am to have if room for such was avail
ple parking (mentioned 10 times). In able. 6. Ceramic tile floor in lobby
addition, the respondents suggested will prove to be a wise investment.
other bankers definitely consider the 7. Use indirect lighting. 8. Air con
type of flooring for long wear and ditioning should certainly be added to
ease of maintenance, the value of a a modern banking building.”
=t= * *
community room, and drive-up bank
“Our building program was planned
ing service.
over a two-year period, consequently,
Suggestions
we feel the program was well thought
Here is some of the advice offered out and well-planned. This probably
to bankers considering a building ox- would not have been the case had we
rushed into a new building without
remodeling program:
“ Careful attention should be given thorough planning. Since we are in
to employing a consultant and archi a metropolitan area, most of the con
tect. Above all, have plenty of time tracting was local or from within the
arranged for planning every aspect of immediate area. This also has been
the new building. Visit other new of value from the public relations
standpoint.”
buildings for ideas.”
* *
“Regardless of architects retained,
spend lots of time looking at other
new or remodeled buildings. The con
” T o p p in g O ff 33
tractor with the low bid is not neces
sarily your best buy. Soft, luminous
lighting and air conditioning are a
must, as well as parking space, if pos
sible.”
* * *
“ Find an ax-chitect that will put your
ideas into use. The bank does not
necessarily need to be on main street.
Find an area easily available with
parking facilities. Have lighting and
air conditioning inample quantity.
We havecarpeting in the office and
bookkeeping area and terrazzo floor
in lobby.”
* * *
“Pick your architect and contractor
with care. Look at work they have
done and talk with people for whom
they have done work.”
=t= * *
TRADITIONAL ironworkers
“ Topping
Off” ceremony was held recently at the
“Never begin a project without an
site of the First National Bank & Trust
architect. Some of your local talent
Company’s new eight-story addition in
can do a good job for you if you only
downtown Lincoln. An American flag was
tell them what you want and your
attached to the final piece of steel, which
was then hoisted to its lofty spot atop
pui-pose. We did not use a contractor
the structure. This traditional ceremony
for the entire job and we believe we
is a brief salute by ironworkers to com
saved at least, and possibly more than,
pletion of the steel skeleton of any new
30 per cent. If you have a good plan
building.
39
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! you can
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tertapes Background Music report that their cus
tomers do not fret while waiting as before. And the
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NAME.
NAME OF BANK........................................................
ADDRESS.............................................................
WEST DES MOINES, IOWA
CITY......................................................... STATE.,
TELEPHONE 274-1588
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
<40
N eed fo r M o r e Space . . .
with good architects’ drawings, an
honest local carpenter can do you a
very good job.
“We purchased the adjoining build
ing and integrated the former build
ing with the purchased property. This
was very satisfactory. Most of the
remodeling of the purchased building
was completed before we took out the
separating wall.
“Our community room is very pop
ular—is used frequently by local and
out of territory people — can accom
modate 60 to 90 persons, and has air
conditioning, rest rooms and complete
kitchen and eating ware.
“We used ceramic tile in the en
try, vinyl for the flooring and carpet
ing in two offices.
“The most important service is your
architect. If you have that you can
act as your own contractor. It takes
a little of your time and imagination,
but it pays off.” (Ed. Note: Nebraska
bank, $1.2 million deposits.)
* * *
“ Use lots of light. Have a large
lobby with officers very convenient to
customers ‘in the open’.”
* * *
“ The location of the bank is the
most important factor in building a
bank; this should be weighed very
carefully. In towns under 500 popula
tion a community room is very effec
tive and can gain new customers and
spread good will for the bank.”
* * *
“Get a good architect. If possible,
have a local contractor. I believe he
will have more pride in giving you a
good building. Location is not impor
tant if you furnish ample parking fa
cilities. Good lighting and air condi
tioning are a must and will help keep
your employees and customers in a
better frame of mind. I feel a com
munity room is not necessary. To me
that would be a headache.”
“Be sure and obtain the services of
an architect and contractor who has
done bank buildings. Other land for
free standing building and ample park
ing. Air conditioning for employees
and the public is necessary.”
Things to Change
The final phase of the survey dealt
with anything that the banker would
do differently if he were starting his
building program over. There is gen
eral satisfaction with the job done, al
though nine of the 24 men did make
brief comments on this point, primari
ly having to do with added space.
Here are their direct comments:
“ I would leave out the landscaping
in the front of the building. Dogs and
other pests are too difficult to cope
with and the attention it requires
is perhaps more than we bargained
for. Other changes would indeed be
very minor. Might be tempted to elim
inate the drive-up window so far, but
we plan some sort of education cam
paign to acquaint customers with its
use.”
* * *
“ I would have liked to have had a
conference room near the executive
desks, but this was impossible with
our present floor plan.”
* * *
“Obtain the services of an architect
specializing in bank construction.”
* * *
“ Our only consideration would be
whether to move to a completely new
location that would provide still larger
facilities for future expansion. We
are very happy with the remodeling
as it now exists.”
* * *
“Our remodeling did not provide an
addition to the building, being some
what unusual. We are well satisfied
with what we have done. However,
on a new building we would provide
for much more work space for the
staff.”
* * *
“ It is often difficult to remodel an
old building, and in many instances
it would be preferable to build an en
tire new structure to provide a more
attractive outside appearance and a
more practical floor plan.”
sfi ifi
“Make it bigger.”
5{<
“We do not have a basement under
our building and were unable to have
a community room because of lack of
space. I feel a community room could
be used in any size bank.”
* * *
“A few minor changes like thumbblocks on doors. Would use all terrazzo floors in work space rather than
linoleum. The upkeep on terrazzo is
much easier.”
Summary
JKtinsas Hank H as Open H ou se
OPEN HOUSE was held in the newly-remodeled quarters of the Garden National Bank,
Garden City, Kan., recently. The nine month program resulted in greatly expanded
room made possible by remodeling two adjoining pieces of property purchased by the
bank. A curved teller counter and a “ floating” spiral staircase to a directors room are
two of the unique features in the entirely new lobby. Leo Van Dittie, former Denver,
Colo., and Nebraska banker, is chairman of the board of Garden National.
N orthw estern
Banker, Ju n e ,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7963
A general summary of the opinion
of these 24 bankers, whose banks have
been remodeled or constructed com
pletely new in the past 18 months
would be as follows:
1. Devote ample time to the plan
ning stage to give all interested par
ties an opportunity to express their
ideas.
2. Hire a reliable architect, pref
erably one with bank building expe
rience.
3. Make sure plenty of space is al
lowed for future growth as well as
present operations.
4. Give close attention to the build
ing services that provide both cus
tomer and employee comfort—such as
heating, air conditioning, lighting and
good flooring.
5. Assess your individual bank’s
auto problem and allow accordingly
in parking space and/or drive-up tell
er installations.— End.
41
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The Diebold approach to Metal Counter Equipment is based on the proposition that counter equipm ent can (and should)
contribute directly to your organization’s operational efficiency. Diebold Metal Counter Equipm ent does so . . .
it is
designed and engineered to help your tellers work more productively, more comfortably. Its modular construction enables
you to custom-design your counter installation for the price of stock components. Rich color choices com plem ent any
color scheme. Diebold’s long experience with banking offers you valuable, time-saving guidance. For com plete inform ation,
send coupon below.
....ANOTHER I
DIEBOLD
DIMENSION O F
DIEBOLD, Incorporated
CANTON 2, OHIO
Dept. B-123
C O R P O R A T E . D
DIEBOLD
BANK EQUIPMENT
LEADERSHIP
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
METAL
COUNTER
EQUIPMENT
Gentlemen:
Please send me detailed information on Metal Counter
Equipment.
Name __
Firm___
Address.
City------
Zone___ State
Northwestern Banker, June, 1963
42
IDEAS FOR BUILDING
AND REMODELING
E qu ipm en t fo r H anks
EW methods and new equipment are making it pos
sible for banks to handle more customers in less
time and also to provide facilities that are as at
tractive as they are functional.
Following are comments from some of the leading bank
equipment firms on their latest developments and on
how this equipment has been used to solve specific prob
lems. Naturally, there are many firms supplying the
various types of equipment described. Those presented
here were selected at random as examples of how the
various equipment firms approach specific situations:
N
Report from:
TELLERS’ COUNTER at the Farmers Trust & Savings Bank,
Earling, Iowa, was pre-built in Omaha by U. S. Check Book
Company and then installed by employees of the bank at a
considerable savings.
F. E. DAVENPORT Co., OMAHA, NEB.
ASSIGNMENT: Redesign vault entrance to make vault
a center of interest, incorporating old vault door.
The Montgomery County National Bank, Red Oak,
Iowa, had one vault door they wanted to use in their
remodeling program, but another also was needed. F. E.
Davenport & Company, Omaha, was able to furnish the
pleted the installation without any difficulty. The units
were furnished by the United States Check Book Com
pany, Omaha, Neb.
The bank completely remodeled its banking room, and
while work was in progress, U. S. Check Book Company
took the necessary measurements and planned the coun
ter and under-counter equipment. The counter was then
pre-built in Omaha in one piece, and when the time was
right, the bank sent a truck to Omaha to pick up the
counter and under-counter units. The bank handled its
own installation, resulting in a sizable savings.
Report from: NEBRASKA NEON SIGN CO.
ASSIGNMENT: Make a bank building stand out from
surrounding office buildings.
Thomas J. Milliken, vice president, The Fremont Na
tional Bank, Fremont, Neb., reports on how a time and
temperature sign was used to distinguish the bank from
surrounding office buildings:
“For a number of years, we knew our bank building
was attractive but lacked identification as a bank. When
TWIN DOORS at the Montgomery County National Bank, Red
Oak, la., were provided by F. E. Davenport Company. An old
door was remodeled to match a newly installed door.
bank with the necessary second door and then refinished
both doors to match. As shown in the accompanying
photograph, the doors are set against a marble wall at
the back of the lobby and can be seen upon entering the
building.
In addition, lights were installed above the doors so
that they can be seen from the outside of the bank at
night.
Report from: IT. S. CHECK BOOK CO., OMAHA, NEB.
ASSIGNMENT: Install completely new tellers’ counter
and units at minimum expense.
The Farmers Trust and Savings Bank, Earling, Iowa,
installed tellers’ units and counter and employees comNorthwestern B a n k e r . J u n e , J963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TIME TEMPERATURE sign at the Fremont National Bank,
Fremont, Nebraska, distinguishes the bank building from sur
rounding offices. It was designed by Nebraska Neon Sign
Company.
43
CHICAGO FACILITY, installed by Diebold, Inc., at the Union National Bank features three exterior units all handled from
an interior console, shown at left. Space is provided for additional units.
our building was constructed in 1942, signs available were
either painted or neon and it was felt that they would
detract from the Indiana limestone exterior. Two years
ago we conducted a customer survey and results showed
that although our building was ‘attractive architecturally
and impressive and substantial looking with a clean
streamlined appearance, it had no identification as a bank
building.’
“Our advertising agency also commented on the lack
of outside identification.
“ Taking action on these suggestions, we investigated
various signs and sign companies and determined that a
time-temperature sign was currently the best attentiongetter. These signs had gained acceptance from the pub
lic, could be designed to compliment the architecture of
our building and would be the first of this type in Fre
mont. We felt a time-temperature sign would provide
us with the best possible identification while performing
a service to the citizens of Fremont.
“ Nebraska Neon Sign Company of Lincoln, Neb., was
chosen to produce this sign because of its pleasing de
signs and because of past service.
“We feel that our time-temperature sign has solved our
lack of outside identification and has become a landmark
in downtown Fremont.”
Report from: DIEBOLD, INC., CANTON, OHIO
ASSIGNMENT: Provide drive-in facilities in a congested
metropolitan area where law prohibits a detached facil
ity and where adjoining space is limited.
The Union National Bank of Chicago, located in a heav
ily populated area, found its conventional drive-up win
dow taxed to the point where traffic backed up into the
main thoroughfare and created a traffic maze. Space in
side the main building did not permit additional window
installations, and Illinois laws prohibit separate locations
on adjacent property.
With Diebold’s new “Vue-Matic” two-way closed circuit
television, transistorized communication and a pneumatic
courier tube system, the bank was permitted to install
drive-up service off the premises. Pneumatic tubes pro
vided the necessary direct physical connections between
the main office and the television facility. Currently the
Chicago bank operates three “Vue-Matic” installations
and has provided facilities for two more—all in a space
of a 60 by 100 foot building.
Report from: TV BANK CORP., INDIANAPOLIS, INI).
ASSIGNMENT: Provide drive-up facilities for a bank
that may have problems with severe weather and that
must maintain a minimum staff.
Two new installations—one in Anchorage, Alaska, and
another in St. Augustine, Fla.—indicate the versatility of
closed-circuit television drive-in facilities.
TV Bank units can be designed into present drive-in
islands or custom designed as part of a building program.
One teller inside the bank can service two drive-up facili
ties from a single console position. The installations re
sult in lower maintenance and lower security costs for
the bank since the danger of robbery at the drive-in unit
is eliminated. Utilizing the removable carrier, the teller
and the bank customer can quickly transact more bank
ing business and the customer enjoys being on TV.
ANCHORAGE, ALASKA installation of the TV Bank Corporation is controlled from the console inside the bank. Customers are
viewed through closed-circuit television and transactions handled through pneumatic tubes.
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
before you build,
replace or expand
find out how
GROSS-FEIBEL
Bank Equipment
fits into your plans
VAULT DOORS in a variety of stand
ard designs, or with special styling and
equipment to meet your individual needs.
D R I V E - U P an d
WALK-UP W IN
D O W S in dramatic
satin stainless steel to
compliment any build
ing design. Equipped
to your special service
requirements.
SAFE DEPOSIT
BOXES in standard
units or custom built
to match your present
boxes and to fill any
opening.
DEPOSITORIES of
various types in mod
ern and traditional
styling ... also Receiv
ing Chests and chute
connections to com
plete the installation.
• Write for literature
The GROSS-FEIBEL Company
H IL L S B O R O ,
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O H IO
F. E. DAVENPORT & C O .
2066 Farnam St., Omaha, Nebr.
□
Vault Doors
□
Drive-Up Windows
r.iiu
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Êlwordals
N o te s :tîi
O f P r o g r e s s in M it-r fi Imi tiif
o in c id e n t
with
the
National
C Microfilm Association Convention
in San Francisco, Recordak Corpora
tion celebrated on May 1 the 35th an
niversary of its founding and of the
introduction of microfilm as a modernday record form.
The first Recordak microfilming ma
chine was installed on May 1, 1928, in
the Empire Trust Company in New
York, of which George L. McCarthy,
its inventor, had been a long-time em
ployee and officer. First application
of microfilming was the photograph
ing of checks as a protection for banks
against fraud.
The introduction in 1929 of micro
film as the basis for these new sys
tems concepts, to eliminate manual
transcription of transit checks to
transmittal forms and dual-entry book
keeping, brought dramatic savings in
operating costs to these areas of bank
operations. It also resulted in an ac
celerated growth of microfilming ac
ce p ta n ce am ong banks and then
among retail stores, for which Recor
dak, in 1931, developed a simplified
billing system. Photographic billing
has since become widely standardized
in all types of retail billing operations.
Microfilming of sales checks replaced
the description and billing of individ
ual items on monthly bills, and cus
tomers received a simplified bill ac
companied by the original sales checks
and other posting media which fur
nished the details.
The desk-top Recordak Junior Mi
crofilmer in 1937 became the first microfilmer-film reader combination unit.
The entry of the United States into
World War II brought the growth of
microfilming to its first plateau with
market expansion during the war
years all but suspended. However,
records security programs were inten
sified during the war years, and the
introduction by R e co rd a k of the
V-Mail System became a highlight as
the first broad-scale use of microfilm
as a communications medium which
became famous through wide public
knowledge and participation.
Microfilm entered the period of its
most dynamic growtn during the post
war period with a rapid succession
of new developments and concepts
emerging from the advance models
frozen at the “breadboard” stage dur
t
ing the war years. Economically, mi
crofilming as a principle of record cre
1 ation and microfilm as a medium of
record keeping came into their own.
In 1940 George McCarthy had been
honored by the National Association
of Manufacturers as a “modern pio
neer” for his “invention of the Recor
dak and pioneer work in the fields of
microfilming and p h o to g r a p h ic ac
counting systems.” More significant
ly, the National Microfilm Association
conferred its First Annual Award of
recognition for contributions to the
advancement of the microfilm indus
try to George McCarthy at its conven
tion in Cleveland in 1954.
The 1950’s spawned the Age of Auto
mation and, with it, the first current
systems applications for 35mm micro
film.
Automated microfilm file search and
retrieval were pioneered by Recordak
and brought into being with the mag
azine concept, the Kodamatic Index
ing principle, and the Lodestar Reader
also in 1957.
Recordak has recently announced
the world’s fastest microfilmer, the
Rotomatic, which can transform a
mile of computer printout to 220 feet
of 16mm microfilm in 29 minutes.
Push-button information retrieval of
binary-coded microfilm images is the
advanced concept of the new Recor
dak Miracode System , which was
first disclosed at the NMA Convention.
Recordak then also announced as an
additional feature of its 35th anniver
sary celebration an entirely new Mi
cro-File film, which yields dramati
cally higher image quality, among
many other improvements of impor
tance to the microfilm industry and
to its growing markets.
Eight Men Named A .V .P .’ s
The election of eight assistant vice
presidents at Chemical Bank New
York Trust Company was announced
last month by Harold H. Helm, chair
man.
They are: Ernest Bruce Brandi,
William L. Kennedy, Noble Welch and
John W. Woods, all of the bank’s na
tional division; Hugh V. MacDonald,
Thomas W. Sheridan and Joseph
Kremar of the metropolitan division,
and Lawrence J. Rudloff of the checkclearance department.
To Travel Kansas
City National Bank announces the
appointment of Reed A. Peters as spe
cial representative in its correspond
ent banks division. Mr. Peters will
travel the state of Kansas for the
bank, calling on commercial and corre
spondent customers.
Put this wall to work...
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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with Mosler’s new walk-up window!
Vista-Matic . . .the most compact and economical walk-up unit!
Almost any outside wall can accommodate the new Mosler Vista-Matic.
This complete, convenient unit offers many new features.
The first impression Vista-Matic makes is one of sleek, contempo
rary beauty. The big, bulletproof picture window gives tellers and
customers an unobstructed view of the entire transaction. Conversa
tions are carried on via a high-fidelity, two-way speaker system.
The Vista-Matic has a large, illuminated exterior writing shelf (vinyl
surfaced), equipped with a bail-point pen and a receptacle for deposit
and withdrawal slips—all serviceable from the teller’s side. The unit s
interior boasts a full-security, “feather-touch” deposit receiver; and
two cash drawers. And, tellers enjoy a new roominess in knee-space.
The cost of putting this unit to work in your bank? The lowest ever
charged
for a Mosler walk-up window! For details, mail in this coupon.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Mosler Safe Company
320 Park Avenue, New York 22, N. Y.
Please send me complete information on
Mosler Vista-Matic walk-up windows.
NÀMF.
t it l e
____________________________ -___________________________________
b a n k _______________________________
—______________________________ -
AnnRF.ss
ZONE
STATE
Mosler
THE MOSLER SAFE COMPANY
47
Insurance Conference
A three-day conference and school
for home and branch office personnel
and general agents of the Employers
Mutual Casualty Company was held
at the home office in Des Moines May
6-8.
About 275 representatives serving
38 states and Canada attended the
conference. Purpose of the annual
school was the further education and
training for better policyholder serv
ice in the changing insurance indus
try.
There were two general sessions,
with workshop-type sessions for the
balance of the three-day meeting.
Workshops were held in such cate
gories as underwriting, claims, pay
roll audit, accident prevention and
field supervision.
B o f M Museum
Canada’s first bank, which opened
in downtown Montreal in 1817, has
been re-created in part by the Bank
of Montreal.
The old bank representation—com
plete with a life-size wax figure of a
banker of the period—is a highlight
of the B of M’s permanent museum
which has been opened to the public
at the bank’s head office in Montreal.
The new museum stands on the
site which housed Canada’s first per
manent banking office, erected by the
B of M in 1818, and which now ac
commodates the bank’s 17-story head
office building.
The museum’s exact replica of part
of the first banking office was pre
pared from plans used by the orig
inal contractors.
Insurance Sales Campaign
Investors Life of Nebraska held a
statewide meeting of its agency force
to kick off its first annual May Cam
paign sales contest. The meeting,
with a “ Run for the Rubles” track
meet theme, was attended by 75
agents and wives at the Diplomat Ho
tel in Omaha.
Leonard Sample, C.L.U., vice presi
dent and agency director, was in
charge of the meeting and announced
that the 14 month old Nebraska com
pany was ahead of schedule for its
1963 goal of $25 million of new pro
duction.
A new business pickup was held
and James M. Henderson, C.L.U., gen
eral agent in Omaha, was the top per
sonal producer with $150,000, and the
Omaha Agency was the top agency
with $281,000 turned in at the meet
ing. The agents set personal goals in
the six-week campaign which totaled
over $7 million of production.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
How the Tension man HELPED
the Northwestern National man
put the money in the bank. . .
In M in n e a p o lis , M r . V ir g il D e s s m e y e r , N o r th w e s te r n N a
tio n a l B a n k , fa c e d a p r o b le m w ith th e ir B a n k -B y -M a i l s y s
te m . I t re q u ir e d to o m a n y f ill-in s an d th e a d v e n t o f m a g n e tic
c o d in g o f d e p o s it d o c u m e n ts d ic ta te d a c h a n g e .
D is c u s s io n s w ith M r . C la r k E lli s , T e n s io n E n v e lo p e , a n d
T e n s i o n - T e a m c o n f e r e n c e s a t t h e p la n t p r o d u c e d a c o m
p le t e l y n e w , s i m p l e a n d f l e x i b l e d e p o s i t s y s t e m . T h e secret
i s a n O p e n E n d — O p e n S i d e W a l l e t w h i c h is r e u s a b l e —
a g a in a n d a g a in . I t tr a v e ls to a n d f r o m th e b a n k w ith e v e r y
d e p o s it a n d a c k n o w le d g e m e n t t r a n s a c t io n . B u t . . . s in c e it
is p r e -a d d r e s s e d a n d c o d e d , n o c u s t o m e r f i ll - i n — n o b a n k
f ill-in w a s re q u ir e d . P r o b le m s o lv e d !
The
you rs,
t r a i n i n g a n d exp erien ce o f t h e T e n s i o n - T e a m
is
t o o . . . p lu s u n m a t c h e d p r o d u c t i o n v e r s a t i l i t y . O n
t h e m o s t c o m p le x t o t h e s i m p l e s t j o b s i t p a y s t o d o b u s i n e s s
w i t h t h e t o p p e o p le — a n d in e n v e lo p e s t h a t m e a n s T e n s i o n !
For Solving This Problem
Mr. Dessmeyer and Mr. Ellis have been awarded the T en sion
C ita tion C ertifica te in recognition of their creative
cooperation in the field of envelope usage.
E n v e lo p e
Samples of this Citation Award envelope are available. Write:
T E N S I O N
E N V E L O P E
r n
i lRL,:M
E N S IO N
mm
m
C O R P .
1912 Grand Ave.
Des Moines 14, Iowa
Factories: Kansas City • St. Louis • Memphis • Minneapolis • Ft. Worth
Des Moines * South Hackensack, NJ.
Sales Offices: New York, Chicago and other principal cities.
Northwestern Banker, June, 1963
48
P rog ress R ep ort
ANOTHER TV BANK
INSTALLATION!
Anchorage, Alaska
Chicago Banker Honored
John F. Mannion, senior vice presi
dent of the Continental Illinois Na
tional Bank and Trust Company, Chi
cago, is one of two prominent busi
nessmen chosen to receive 1963 John
T. Madden Awards presented by New
York University’s Commerce Alumni
Association.
The awards, inaugurated in 1951 to
honor the late Dean Madden, are given
to Commerce alumni whose careers
have exemplified “ outstanding achieve
ment in business, industry, or profes
sional life.”
Mr. Knight, who joined Talcott as
a senior vice president last October,
supervises the industrial finance com
pany’s factoring, equipment financing
and leasing operations.
New Director and V.P.
Michael L. Haider, president, vice
chairman of the executive committee
and director of Standard Oil Company
(New Jersey), has been elected to the
board of directors of First National
City Bank.
It was also announced that T. Jack
Henry has joined First National City
Bank as vice president in charge of
VNB Dividend
A n o th e r m o d e rn ba n k has in sta lle d
custom-designed T V B A N K facilities
to provide customers with more com
plete, efficient drive-up banking service.
W ith T V B A N K , the teller remains
inside the bank, although she can con
verse w ith customers "face to face”
(even though they may be 500 feet
aw ay) over closed-circuit T V . Business
is transacted quickly through pneumatic
tubes, w hile the teller remains close to
records and supervision. Services here
tofore impractical with drive-in islands
are now readily provided . . . and extra
security costs are eliminated.
Custom-designed, w ith the drive-up
units located where you want them, T V
B A N K provides the convenience and
prestige o f drive-up banking . . . com
plete service for your customers . . . as
w e ll as savings in costs and operation
. . . contact T V B A N K Engineers today!
ROOM 412 • BANKERS TRUST BUILDING
INDIANAPOLIS 4, INDIANA • ME 9-4521
Valley National Bank directors last
month approved a second quarter divi
dend of 25 cents per share, payable
June 21 to stockholders of record
June 7.
A n n o u n ce d by Board Chairman
Walter R. Bimson, the payment will
total $623,756.75, and brings cash divi
dends paid out so far this year to
$1,247,513.50.
In addition, VNB shareowners re
ceived a 5 per cent stock dividend in
February.
Net operating earnings for the first
quarter were $1.5 million, equivalent
to 63 cents per share and a gain of
28.9 per cent over the first quarter
of 1962.
Named Executive V.P.
Richard L. Knight, a senior vice
president, has been elected an execu
tive vice president and director of
James Talcott, Inc. The promotion
was announced by Herbert R. Silverman, board chairman and president.
Name_________________________________
Title_____
T . J. H E N R Y
advertising. He formerly was associ
ated with McCann-Erickson, Inc., New
York, where he was administrative
vice president.
Mr. Henry was from 1957-1961 vice
president and manager of the McCann
Detroit office, joining it after four
years as director of advertising and
sales promotion for the Lincoln-Mer
cury division of the Ford Motor Com
pany.
From 1935-1953 Mr. Henry was as
sociated with the N. W. Ayer agency
in Detroit rising to vice president and
manager of the Detroit office.
GET N EW CHECKING ACCOUNTS
WITH FREE SECURITY
HALLMARK PROMOTION
C O R P O R A T IO N
Yes, I'm interested in finding out more . . .
□ Send literature. □ Have TV BANK Rep
resentative call.
M . L. H A ID E R
□ Please Send Me
S e c u r ity H a llm a r k
P r o m o tio n a l K it
Yours for the asking—a complete packaged
promotion that gives prospective customers
new reasons for opening an account at your
bank. It projects a Security Image to present
customers at the same tim e—one that auto
matically repeats Itself every time a cus
tom er receives his cancelled checks.
The Cummins Security Hallmark promo
tion includes a handsome plaque to display
in your lobby that explains your use of per
forated cancellations for depositor protec
tion; a variety of advertising mats for use in
local papers that tell these new reasons for
banking with you; radio and television com
mercials; publicity releases; envelope stuffers and other useful material. It's all yours
for the asking. Just check the box and
return this ad to:
Bank______
Address^
City____
_State_
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C U M M IN S -C H IC A G O
C O RPORATION
4740 N R A V E N S W O O D A VE
• C H I C A G O 40. I LL .
S A L E S A ND S E R V I C E I N ALL P R I N C I P A L C I T I E S
•V
49
This introduces to all American Express Offices
[_____ Mr. John C. Harris______
(TYPEKÄM
EOfCUSTOM
ERPURCHASINGAM
ERICANEXPRESSTRAVELERSCHEQUES)
who is a valued customer of
State National Bank
VALIDON
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W o r th $ 2 5 0 to y o u r custom er in an em ergency.
W o r th a fortune to y o u in good will.
The American Express Travelers Cheque
Courtesy Card: new way to build good will
among your important customers.
H ere’s how it works: You issue the
extra personal
service to a valued customer when
travel or related services he may re
the original am ount o f A m erica n
quire at A m erican Express offices
Express Travelers Cheq ues purchased
he buys his American Express Trav
everywhere.
prove unexpectedly insufficient.
Courtesy Card as an
elers Cheques from you.
Good for up to $250
Should your customer require emer
gency funds, the card enables him to
go into any American Express office
in the world and obtain an additional
$ 2 5 0 in American Express Travelers
Cheques
against his personal check.
An impressive credential
him of special consideration for any
An opportunity for
added service
T h e C ou rtesy C ard repre
sents a unique opportunity
James A. Henderson, Vice President
American Express Company
Travelers Cheque Division
65 Broadway, New York 6, N. Y.
and appreciation of your im
I am interested in offering my valued customers this
extra service.
portant traveling customers.
Name___________________________ Title____________
for you to win the good will
“I
It enables you to offer them,
w ithout risk or expense,
T h e C ou rtesy C ard im m ediately
something of genuine value:
identifies your customer as a person
a source of emergency funds
of integrity and substance. It assures
that they can draw upon
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Federal Reserve Bank of St. Louis
easily and quickly—anywhere—should
Signature________________________________________ _
Name of Bank____________________________________
Address of Bank__________________________________
Northwestern Banker, June, 1963
50
itanh iivariii ffs . . .
(Continued from page 31)
troller’s policy seems to me clearly
in the public interest.
“He said that in deciding whether
he will permit new national banks to
open in competition with banks al
ready in a community, he will con
sider whether or not the existing
banks are giving their communities
good service. One of the tests of good
service, he indicated, is whether, and
to what extent, the banks make loans
and investments in their local com
munities. Too many banks concen
trate in the investment of their funds
in government securities and in taxexempt municipals and other securi
ties not related to their communities.”
Thus does Chairman Patman summar
ize what he called the “fight between
state-chartered banks and the Comp
troller of the Currency.”
FDIC Raise Debated
From the standpoint of many the
several bills which have been intro
duced to more than double the insur
ance fund for both savings and loan
associations and banks were less tech
nical and more interesting to the audi
ence in the hearing room and to the
public.
Many believed that the bills for
more insurance would encounter very
little difficulty in clearing the House
Banking Committee. But this was not
the case. Reserve Board Vice Chair
man Balderston said that such an in
crease “would not be in the public
interest.” This was the official posi
tion of the ABA. The Independent
Bankers Association revealed a split
vote to its membership—56 per cent
for the increase and 44 per cent op
posed.
The New York Clearing House As
sociation, speaking for its member
ship, was opposed. Its counter-propos
al was to retain the present $10,000
and reduce assessments. This would
im p r o v e ea rn in g s and help to
strengthen capital and reserves. It
favored some reforms in present as
sessment methods so as to eliminate
the uninsured portion of deposits.
What had the effect of halting for
the nonce the drive for higher insur
ance was the firm position that Treas
ury Secretary Dillon took, on behalf
of the White House, for standby au
thority over interest and dividend
rates. Such controls would have the
effect of controlling interest and divi
dends. Commercial banks would be
little concerned but savings and loan
associations would be.
Meanwhile, the Home Loan Bank
Board has been advising the savings
and loan industry that it is time to
halt the drive on higher dividends and
warned that it is also time to look to
rising costs and possibly some reduc
tions in the advertising of high rates.
In testimony the U. S. Savings and
Loan League took the position that
“standby controls might be fraught
with problems and dangers,” but de
clined to take a position until legis
lation was offered. The Bureau of
the Budget is said to be writing pro
posed legislation which will be sent
to Congress.
Study Federal Commission
Rep. Abraham Multer of New York,
heads a subcommittee of the whole
committee and called hearings on two
of the many bills that he has offered.
One would establish a Federal Bank
Commission and the other a merger
of the deposit and share insurance
corporations.
It will be recalled that Reserve
Board Governor Robertson is the au
thor of the Commission proposal. He
was called as a witness and defended
the measure as the only means to
avoid past conflicts on ruling and ad
ministrative procedures issued by ei
ther the FDIC, the Comptroller of
the Currency, or his own Board. How
ever, other Board members were not
so sure.
Governor Mills was plainly opposed.
He thought the present three-way sys
tem had worked out well on the whole.
Governor Mitchell was not especially
opposed but said that mergers and
bank holding companies were not cov
ered in the Commission proposal.
Board Chairman Martin believed that
more study should be given the pro
posal. Chairman of the FDIC Cocke
was opposed and asked for more study
of the Commission idea.
Alternate Proposals
That the Commission idea has a
great deal of merit was plain in the
testimony of New York Bank Super
intendent Oren Root. He had many
criticisms of the Commission idea and
favored putting the decisions of a su
pervisory nature with the Reserve
Board.
General Council Robert H. Broome
of the Bankers Trust Company, New
York, counter-proposed a simplifica
tion of current confusions. He would
set up regional commissions to deter
mine decisions. State bank supervisors
would participate in ironing out dif
ferences over branches and mergers.
Other witnesses also suggested alter
native approaches to avoid disagree
ments over supervision.
Oddly, the original proposal of Board
Governor Robertson that such a Com
mission be set up to relieve the Re
serve Board so that it could concen
trate wholly on money and credit
problems fell by the wayside. There
was testimony of the three Board Gov
ernors that they needed to keep in
close touch with bank supervisory
problems and statistics from the agen
cies since it helped them in their mon
etary and credit decisions.
President’s Report
noneed to battle
TRUST INVESTMENT PROBLEMS
single - handed/y!
Studley, Shupert Trust Investment Council members call on the
research facilities, group experience and group thinking of the
Council Staff to help meet their tough investment problems.
You can get this help, too! Write fo r details.
STUDLEY, SHUPERT TRUST INVESTMENT COUNCIL
1 617 P E N N S Y L V A N I A
BOULEVARD
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PHILADELPHIA
3,
PA.
While the President’s Report (known
as the Heller Committee, since its
nominal chairman is Walter Heller,
chief of the President’s Council of
Economic Advisers) will determine
long-range banking legislation in the
weeks ahead, it is to be reviewed by
both banking committees of Congress.
Some of its observations proposed
Federal charters for mutual savings
banks and also possibly for life insur
ance companies. It called for more
cooperation among the bank and sav
ings and loan supervisory activities.
One banker who testified on the Com
mission proposal would have the three
bank supervisory agencies meet at
►
51
least four times a week to settle dif
ferences.
The President, in a foreword to the
Heller Committee document, said the
report “is not so urgent as to com
mand the highest priority,” but will
“provide a sound basis for policy and
constructive guidance in considering
specific proposals for legislative ac
tion.”
Dr. Heller noted that “numerous im
provements” are proposed but praised
the present status as functioning
“soundly and efficiently.”
While the House Banking Commit
tee has taken the spotlight during the
past few weeks, the Senate Banking
Committee is waiting to see what hap
pens. It has approved the end to
controls over silver and favors the is
suance of Federal Reserve Notes in
the place of silver certificates. The
House approved similar legislation.
Thus does a d e m o c r a c y work
through criticisms and hearings and
divergent opinions over proposed leg
islation.—End.
Elected President of
Iowa State Travelers
Richard C. Hunt has been elected
president and a member of the board
of Iowa State Travelers Mutual As
sociation, Des Moines, it was an
nounced last month by Dutton Stahl,
chairman. Mr. Hunt fills the vacancy
created by the recent death of Norton
L. Sullivan, who died several weeks
ago after a lingering illness.
Mr. Hunt moved to Des Moines
f from Omaha where he was treasurer
and general manager of the Travelers
Health Association. He is well known
in insurance circles, being president
of the International Federation of
Commercial Travelers Insurance Or
ganizations, and a member of the
Health Insurance Association of Amer
ica.
Mr. Stahl, in his annual report to
the membership, pointed out that in
the association’s 82 years it has never
lost a single dollar on an interestbearing investment, either principal
or interest. He also said the asso
ciation has enjoyed nine consecutive
years of increase in imemium income,
15 straight years of growth in sur
plus, and 19 successive years of gain
membership to the present total of
more than 106,000.
Seattle Banker Elected
William M. Jenkins, chairman of
the board and chief executive officer
of Seattle-First National Bank of
Seattle, Wash., has been elected to
the board of directors of Western
Gear Corporation.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE CHECK LOOK IS THE QUALITY LOOK
The fam iliar safety paper appearance tells your customers their
checks are on a quality paper — created specifically for check use
to provide protection against alteration and counterfeiting.
To give your checks the quality look, do as so many banks do —
specify LA MONTE SAFETY PAPER.
THE
WAVY LINES, ®
THE NAMES
BASKETWEAVE ®
AND EXCHANGE (j
AND THE
DISTINCTIVE
BASKETWEAVE LINES
ARE
SAFETY PAPER
FOR CH E C K S
LA MONTE TRADE-MARKS.
G E O R G E L A IVIONTE & S O N
•
NUTLEY
10,
NEW JERSEY
Northwestern Banker, June, 1963
52
F ield W a reh ou se F a tile . . .
(Continued from page 32)
inventory, location of the feedlot, and
the financial strength of the borrower.
However, in many instances the cash
and trade discounts that can be taken
as a result of the additional working
capital made available can largely off
set the cost of the warehousing.
As to the awareness of banks to the
benefits of warehousing of commer
cial feedlots as against chattel mort
gages, Ellwood W. Johnson, president
of the First National Bank of Tampa,
Fla., recently wrote a Lawrence Ware
house executive:
“You are aware, of course, that
through your fine company we have
been extending several rather sizable
cattle loans under a field warehousing
arrangement and our experience is
such that we hope to replace all of
our livestock mortgages with ware
house receipts if possible. The pri
mary reason, of course, being that
loans of this nature are scattered fre
quently great distances from the bank
and policing these livestock mortgage
loans becomes not only expensive but
difficult.
Banker Recommends It
“Under the field warehousing ar
rangement it is our impression that it
adds very little to the cost of opera
tions and places a very fine firm as
an in-between man watching out for
the interests of both the bank and the
borrower. We heartily recommend
this method of livestock financing.”
From an operating standpoint, The
Lawrence Company effects the instal
lation of a field warehouse for the cat
tle feedlot in much the same manner
it would for any other type of com
modity.
The first step in setting up a field
warehouse is to apply for a line of
credit with the bank. The bank sets
the limit, designates the percentage to
be loaned against cost of inventory,
and sets the rate of interest to be
charged. Policies of banks vary con
siderably, especially on interest rates;
however, where a warehouse company
such as Lawrence secures the loan, a
bank can generally increase the limit
on a customer’s line of credit. Also,
they can sometimes loan a greater per
centage of the inventory value.
Banks Can Advance More
According to D. I. Thomas, vice
president, First Western Bank and
Trust Company, San Francisco, it is
First Western’s policy to give a cattle
[s b + n b b = (p m )* ]*
Unusual formula
for portfolio management
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bank equals more effective portfolio management.]
Portfolio management counseling is but one of many correspondent
services we tailor to small and medium size banks. Call or w rite ...
NATIONAL BOULEVARD BANK
of Chicago
4 0 0 -4 1 0 N. M ichigan Ave. • SU 7 -2 3 2 3
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
feeder up to one-half per cent interest
rate advantage if he sets up a field
warehouse.
Mr. Thomas said that the bank can
at times advance 5 per cent more to a
customer who warehouses his cattle
and feed than could be advanced on a
chattel mortgage. As a rule, he says
the bank will finance 80 per cent with
the owner retaining a 20 per cent
equity.
Field warehousing of cattle is most
practical and advisable for the cattle
feeder who has limited working capi
tal, is expanding rapidly and does not
have sufficient financial strength to
support the large credit accommoda
tions necessary for his operations, Mr.
Thomas said. The bank can usually ¥
advance these men a little more
money on their inventories if they are
warehousing.
The Lawrence Company charges for
its services on a sliding scale based on
the value of the cattle or feed going
into the feedlot each month or on the A
monthly m axim u m value. Normal
charge totals between one per cent
and one and one-half per cent a year.
Mr. O’Brien finds he can recoup the
warehousing fee on feed through sav
ings the extra borrowing power af
fords him.
The economy of field warehousing
of commercial cattle feedlots is recog
nized by banks throughout the coun
try and its use is becoming wide
spread nationwide. In the words of
Tampa Banker Johnson: “Under the
field warehouse arrangement it is our
impression that it adds very little to
the cost of operations and places a
very fine firm as an in-between man
watching out for the interests of both
the banks and the borrower. We
heartily recommend this method of
livestock financing.”— End.
Mutuals Reveal Ad Plans
Mutual savings banks plan to spend
$19.5 million on advertising in 1963,
according to a survey made public
last month by the National Associa
tion of Mutual Savings Banks. The
projected expenditure represents a 1.6
per cent increase over the $19.2 mil
lion spent in 1962.
Average expenditure for the 434
banks participating in the survey is
estimated at $44,976, or $2,096 more
than the 1962 average of $42,880.
Nearly half—43 per cent—of the
proposed expenditure will be allo
cated to newspaper advertising. Radio
commercials will account for 11 per
cent and novelties and give-aways for
10 per cent. Major emphasis will be
upon savings, mortgages, and inter
est rates.
53
MEN WHO RACE THE CLOCK . . .
Edward L. Winkler, Louis F. Donley, Bill Cato, and Henry Fahr
are members of our Transit Department.
First National’s transit experts work around the clock. Ed Winkler, seated
at his desk, is vice-president in charge of all check and draft collections, as
well as lock box banking, wire transfer, and other functions. Lou Donley
(left), assistant cashier, is head of the transit division, and Bill and Henry
complete the team. They and their associates are alert to new methods,
utilize the fastest possible transportation (including messenger trucks to mail
trains and airport post offices).
First National can make collections for you from most major cities in a
single day’s time. Items reaching us after banking hours receive same day
processing . . . often reducing collection time a full day.
Find out how First National transit experts can speed your
collections. Call or write today.
F IR S T
N A T IO N A L B A N K
IN S T . L O U I S
M em ber Federal Deposit Insurance Corporation
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Northwestern Banker, June, 196T
54
1 9 6 3 Miss Drive-in Teller
Sought By Mosler Safe Co.
Is there an outstanding drive-in
teller in your bank? If so, The Mos
ler Safe Company urges you to have
her enter the sixth annual contest to
pick Miss Drive-In Teller.
The grand prize will be a flight to
Jamaica, B.W.I. by a British Overseas
Airways Corporation 707 Jet, for two,
and a week-long vacation at the Mon
tego Beach Hotel at Montego Bay.
In addition to the grand prize three
finalists, selected by a panel of dis
tinguished judges, will win an all
expense trip to Washington, D. C. to
attend the American Bankers Asso
ciation Convention, plus a wardrobe
for the trip. Bankers will vote on
the winner from among the three
finalists.
The Miss Drive-In Teller Contest,
sponsored annually by The Mosler
Safe Company, is open to any woman,
married or single, who works full or
part time at a drive-in or walk-up
bank window. This year, for the first
time, tellers serving customers at TV
Auto-Banker television banking units
will be eligible.
Contestants must complete an offi
cial entry blank, enclose a recent
photograph (5x7 or 8x10) and mail to
Miss Drive-In Teller, The Mosler Safe
Company, 320 Park Avenue, New
York 22, N. Y. Entry blanks will be
distributed to banks by The Mosler
Safe Company.
John A. Smith
John A. Smith, vice president of the
La Salle National Bank, Chicago, and
native of Berwick, Iowa, died last
m onth following
surgery.
Mr. Smith was
a member of the
b a n k ’ s com m er
cial lending divi
sion, and joined
the bank in 1953.
He had previous
ly been an assist
ant national bank
examiner. At La
j. A. S M IT H
Salle, he w a s
elected assistant cashier in 1955; as
sistant vice president in 1957, and vice
president in June, 1960. Funeral serv
ices were held in Des Moines.
1st o f Chicago Donates Books
In commemorating The First Na
tional Bank of Chicago’s 100 years of
banking, Homer J. Livingston, chair
man of the board, announced that the
bank has presented a book entitled
“Financing American Enterprise” to
199 accredited colleges, universities
and junior colleges in Illinois, Indi
ana, Missouri, Iowa and Wisconsin.
In addition, the book was sent to
278 high schools in the Chicagoland
area. Written by Dr. Paul B. Trescott
and published by Harper and Row,
the book records the story of the sig
nificant role American banks played
in the growth of the country. This
story marks the Centennial of the Na
tional Currency Act of 1863.
St. Paul F&M Changes
you can expect great th in g s . . .
F R O M A S IN G L E S O U R C E
Just as the w o rld ’s grow ing n eed for energy is supplied from a single source
—the sun —so, too, can your installment credit business best serve its grow
ing needs b y draw ing upon a single insurance source. That single source is
the Central National Insurance G roup o f Omaha. Through Central National,
you gain the optim um o f speed, service, con v en ien ce, and profitability for
a l l your insurance transactions. Write us today for full details con cerning
Central National’ s com plete installment credit insurance service.
Complete Insurance Coverage for Consumer
Installment Credit Customers of Financial Institutions
The Central
National Insurance G roup^TATof Omaha
700 SOUTH 72ND STREET, OMAHA 14, NEBRASKA
lS > J
Clarence L. Landen, Chairman of the Board
The Central National Insurance Company
•
The Protective National Insurance Company
The Central National Life Insurance Company of Omaha
Northwestern
Banker, June, J963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A.
B. Jackson, president of the St.
Paul Fire and Marine Insurance Companay, has announced the following
staff changes:
Palmer Benson, secretary and head
of the claim department, retired May
31 under the company’s retirement
plan after nearly 28 years of service.
Eugene M. Dean was appointed secre
tary in charge of auto and casualty
claims and all field claim personnel,
effective June 1. Calvin Branton, as
sistant secretary, will be Mr. Dean’s
assistant.
Tom H. Swain has joined the com
pany’s public relations department to
assist Don C. Hawkins, secretary and
public relations director.
Guy Laib, formerly claims manager
in Youngstown, Ohio, heads up a new
St. Paul Companies claims office in
the First Avenue Building Cedar Rap
ids, Iowa.
Ellsworth Donnell, Vice President, International Banking Departm ent (Photo by Inge Morath J Magnum)
w
—
: j
What else did Ellsworth Donnell bring back from the Far East?
In addition to this golden buddha from
Bangkok, he returned with something of
exceptional importance to you and your
customers: a well-grounded awareness of
the current business and political climate
throughout the Far East.
Mr. Donnell is one of our world-travelling
officers whose job it is to make your foreign
business and your customers’ smooth and
BANKERS
)Bankers Trust Company 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TRUST
profitable. Through these men, Bankers
Trust provides a depth of information on
specific foreign countries plus introduc
tions to key businessmen and officials, data
on local money and labor conditions, and
all other vital services. Suddenly your bank
has an experienced and fully staffed Inter
national Banking Department—when you
use ours.
COMPANY
NEW
YORK
Member Federal Deposit Insurance Corporation
Northwestern Banker, June, 1963
56
Doug Johnson and John Ordos use all the power of man and nature to give you fast collection service.
I t ’s s u p e r n a t u r a l
how rapidly Midland’s Collection
Department turns drafts, bills o f lading and other instruments into
cash. A t least it seems supernatural. W h at really turns the trick, o f
course, is the close correspondent relationship we enjoy with banks
all over the country—banks who assure us, and you, o f the fastest
possible presentation and reporting of results. See for yourself.
W e'll prove friendship with special service.
TH E BANK WITH TH E BIG W ELCO M E
M id land N atio n al B a n k
FEderal 2-0511 * 2nd Ave. So. and 4th St., Minneapolis 40, Minn.
Member Federal Deposit Insurance Corporation
Northwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
57
Among the hosts . .
.
Minnesota Bankers
To Celebrate
Centennial
T. E. O L SO N
Vice President
W . B L AC K M AR R
President
ALTER CARPENDER, Minne
sota convention chairman, and
his committees have done an
excellent job preparing the 1963 an
nual meeting—our 73rd—and conven
tion delegates can expect an outstand
ing speaking program as well as the
best in entertainment,” said Wayne
Blackmarr, president of the Minnesota
Bankers Association, last month.
“A Centennial theme will be fea
W
'
1
. . .
K. A. W A L E S
Secretary
tured for several convention events,”
he continued, “and the Centennial
Party planned for Tuesday evening,
June 11, will be remembered for many
years to come.”
Format of the convention will be
similar to last year’s, with the Men’s
Golf Tournament scheduled for Mon
day, June 10, at the North Oaks Golf
Club; four business sessions Tuesday
and Wednesday, June 11 and 12; Men’s
at 73rd annual convention
and Ladies’ L u n c h e o n s Wednesday
noon, and the Annual Banquet on
Wednesday evening.
A highlight is the Men’s Luncheon
speaker, A. Willis Robertson, U. S.
Senator from Virginia, who is chair
man of the Senate Banking and Cur
rency Committee.
A portable TV set is to be given at
each of the four business sessions as
an attendance prize.
OFFICIAL CONVENTION PROGRAM
“Government and politics—The Banker’s Respon
sibility,” James F. Murray, Jr., former New Jersey
State Senator, now New York City attorney.
11:30 Announcements and Recess.
11:45 Reception and Luncheon for Minnesota Club, Cen
tral States Graduate School of Banking—University-Sibley Rooms.
Noon Pioneer and Past Presidents’ Club Luncheon —
Queens Room.
MONDAY, JUNE 10
A.M.
8:00-1:30
Annual Men’s Golf Tournament—North Oaks
Golf Club. Breakfast and lunch available at the
club.
P.M.
4:15
Hospitality Rooms Open—Hotel St. Paul.
TUESDAY, JUNE 11
A.M.
8:30-3:00 Registration—Lobby of the Hotel St. Paul.
9:30 First Business Session—Continental Room, Hotel
P.M.
2:00 Second Business Session—Continental Room, Hotel
St. Paul.
Call to Order and President’s Report — Wayne
Blackmarr, Wayzata, MBA President.
Address—G. Harold King, Jr., member, Board of
Governors, Federal Reserve System, Washington,
D. C.
ABA Meeting and Election—Herman G. Hamre,
Wood Lake, ABA State Vice President.
“How to Have a Heart Attack”—Richard C. Bates,
M.D., Lansing, Mich.
Address—Ancher Nelson, Hutchinson, U. S. Repre
sentative from 2nd District, Minnesota.
St. Paul.
Call to Order—Wayne Blackmarr, Wayzata, MBA
President.
Presentation of Colors—U. S. National Guard.
Greetings—George Vavoulis, St. Paul Mayor.
Report of Resolutions Committee—Donald H. Gregerson, Anoka, Chairman.
Report of Nominating Committee—John J. Tarasan, Hopkins, Chairman.
Report of Executive Secretary—Kenneth A. Wales,
Minneapolis.
Among the speakers at the Minnesota convention
J. F. M U R R A Y , JR.
DR. R. C. B A T E S
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
E. j . M cC a r t h
y
. . .
A. W . R O B E R T S O N
W . F. K E L L Y
DR. C. E. IR V IN
Northwestern Banker, June, 1963
58
Minnesota News
M in n eso ta C onvention
4:15 Announcement and Recess.
6:00 “Centennial Night!”—Hotel St. Paul.
Buffet in the Continental and Casino Rooms.
Entertainment.
W ED NESDAY, JUNE 12
A.M.
8:30-3:00 Registration—Lobby of the Hotel St. Paul.
9:30 Third Business Session—Continental Room, Hotel
St. Paul.
Call to Order—Wayne Blackmarr, Wayzata, MBA
President.
Resolutions.
Election of new officers.
Address—Dr. Jerry McCall, assistant to the direc
tor, Marshall Space Flight Center, Huntsville, Ala.
Address—Eugene J. McCarthy, U. S. Senator from
Minnesota, St. Paul.
11:30 Announcements and Recess.
Noon Ladies’ Luncheon—Hotel Lowry, Ballroom.
Noon Men’s Luncheon — Continental Room, Hotel St.
Paul.
Address—A. Willis Robertson, U. S. Senator from
Lexington, Va.
.. .
P .M .
2:15 Fourth Business Session—Continental Room, Ho
tel St. Paul.
Call to Order—Wayne Blackmarr, Wayzata, MBA
President.
Address—William F. Kelly, ABA vice president,
and president of the First Pennsylvania Banking &
Trust Company, Philadelphia.
“Exports Can Help Any Bank, Including Yours”—
Joseph McCann, administrator, St. Lawrence Sea
way Development Corp., Detroit, Mich.
“Am I Big Enough to Keep?” — Dr. Charles E.
Irvin, Ormond Beach, Fla.
4:00 Announcements and Adjournment.
5:00-6:30 Registration—Prom Ballroom, Hotel St. Paul.
5:30-6:45 Social Hour — Arizona Room and Prom Ball
room.
7:00 Annual Banquet—Prom Ballroom.
Invocation.
Installation of new officers.
Response—Thomas E. Olson.
Entertainment.
9:30-12:30 Dancing—Jules Herman and his Orchestra.—
End.
M in n eso ta C onvention
W . A. C A R PEN D ER
H. N. S N Y D E R
A. A. H A E SSIG
CONVENTION COMMITTEE CHAIRMEN for this year’s an
nual meeting of the Minnesota Bankers Association are: Gen
eral Chairman—W. A. Carpender, vice president, Midway Na
tional, St. Paul; First-Nighter Party—Henry N. Snyder, assist
ant cashier, First National, St. Paul; Banquet and Entertain
ment—Arthur A. Haessig, vice president, American National,
St. Paul; Ladies Luncheon— Mrs. Elizabeth Hagerty, American
National, St. Paul; Hotel-Utility-Transportation—Warren R.
Hinze, president, First State Bank, St. Paul; Speakers—Good
win S. Anderson, assistant vice president, Northwestern Na
tional, St. Paul; Golf—Paul B. Bremicker, vice president,
Northwestern National, St. Paul; Publicity— Silas E. Rogers,
assistant vice president, First National, St. Paul, and Carl E.
Bergquist, assistant cashier, Federal Reserve Bank, Minneapolis.
Activity at Proctor
The insurance agency of the First
National Bank of Proctor has been
moved to the former bank building so
more space is available for the grow
ing volume of business of both the
bank and the insurance agency. Also,
the real estate, insurance and public
accounting departments are being
moved to the former bank building for
the same reasons.
Charlene Brockway of the First Na-.
tional has been elected to serve a
Northwestern
Banker, June, 7963
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Federal Reserve Bank of St. Louis
G. S. A N D E R S O N
M R S. E. H A G E R T Y
P. B. B R E M IC K E R
two-year term on the board of gover
nors of the A.I.B. She is a reception
ist with lending authority.
Begins Waconia Construction
Work has begun on the new bank
building for the First National of
Waconia. Buildings on the site have
been removed and the basement of
the new bank has been started. When
the new bank is ready, the old one
will be torn down to make room for
a parking lot and drive-in banking.
S. E. ROGERS
C. E. B E R G Q U IS T
Banker Heads Jaycees
Ed Tetrault, vice president of the
Farmers & Merchants Bank, New
Ulm, has been elected president of the
New Ulm Junior Chamber of Com
merce.
5 9 Years’ Service
Miss Margaret Mclver recently re
tired as assistant cashier of the Lowry
State Bank. She started work at the
bank in 1904, when Iver Ingebretson
was president of the bank.
59
HOW TO
HATCH A
BIGGER
NEST EGG
OF YOUR
OWN
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substantial tax savings — as well as a practical program for developing retirement benefits for
your employees. You owe it to yourself to consider, with your attorney, the many advantages of
our Correspondent Bank Trust. Write now for free booklet with full details, or call FEderal 4-4141.
First National BankwMinneapolis
CORRESPONDENT BANK DIVISION
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Federal Reserve Bank of St. Louis
Member Federal Deposit Insurance Corporation
N o rth w e ste rn Banker. June. 1963
60
president of McQuay, Inc., and
C.
Bpresident
of Lend Lease Transpor
YRON B. JAMES,
Kenneth
Glas
er,
tation Company, have been named to
the advisory board of the North Amer
ican office of Northwestern National
Bank, according to John A. Moorhead,
president.
* * *
Goodrich Lowry, president of North
west Bancorporation, has been elected
a director of Northern States Power
Company.
* * *
John S. Curtin, vice president, Kal
man & Company, Inc., Minneapolisbased investment firm, has been nomi
nated for a three-year term on the
board of governors of the Midwest
Stock Exchange, Chicago.
* * *
Directors of Minnesota Mining and
Manufacturing Company have elected
Bert S. Cross president of the firm.
He succeeds Herbert P. Buetow, who
has retired.
* * *
Trade advertising of the Marquette
National Bank, Minneapolis, has been
selected by the National Research Bu
reau’s Bank Ad T r e nd s
as “ Best
Cream of the Crop” advertising for
the month of April. The ads, for the
department of banks and bankers, fea
tured, “Progress Built onPartner
ship” and an automation ad entitled,
“Too Many Transactions.”
Previously this year, the statement
of condition trade ad and a February
Trust Department newspaper ad were
selected for an “Award of Excellence.”
The ads were prepared under direc
tion of R. W . Crouley, vice president
of the bank, working with Ray C.
Jenkins Advertising Agency.
* * =t=
Capital stock at the Northeast State
Bank of Minneapolis has been in
creased from $100,000 to $200,000, by
sale of new stock.
* * *
Experience, Incorporated — a mod
ern approach to more effective execu
tive operations—held its first News
Conference and Inaugural Luncheon
at the Northstar Center Ballroom re
cently. The organization, set up for
the sharing of ideas and experience of
several of the nation’s leaders in mar
keting, finance, agri-business, public
administration and education, is con
ducted by Dr. O. B. Jesness, former
board chairman, Minneapolis Federal
Reserve Bank, and professor emeritus,
ag economics, University of Minne
sota, as chairman of the board, and
Dr. Julius Hendel, retired vice presi
dent, Cargill, Inc., and chairman of
the board, McNary Farm Management
Company, as president.
Tax free municipal bonds
for bank investment
Allison-Williams Company
NORTHWESTERN BANK BUILDING
MINNEAPOLIS
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
FEderal 3-3475
The Northwestern National Bank of
St. Paul has announced plans to locate
future new quarters in St. Paul’s pro
posed Capital Centre, a $70-million
downtown urban renewal project. H.
William Blake, bank president, esti
mates that, “a structure costing in ex
cess of $2 million will be constructed
to house the bank.
* * *
Northwestern National Bank of Min
neapolis honored 15 seniors and their
teachers from Minneapolis and subur
ban high schools recently at an
awards dinner at the Radisson Hotel.
Henry T. Rutledge, executive vice
president, made the presentations of a
$25 savings bond to each student and
a trophy bearing the name of the win
ning student and school to each steno
graphic teacher.
* * *
John F. Nash, president, American
National Bank of St. Paul, has an
nounced the election of Warren T.
Braham as trust officer. Mr. Braham
has been trust officer at the Lynch
burg National Bank & Trust, Lynch
burg, Va., since 1957.
* * *
A group of prominent St. Paul bank
ers are appearing in a series of tele
vision programs sponsored by the
School Relations Committee of the St.
Paul Chapter, American Institute of
Banking. The series consists of four
weekly programs which will tell the
story of the banking industry’s role
in the development, progress and fu
ture of the nation and demonstrate
the many opportunities for a career
in banking.
Participants in the program are:
Clarence G. Frame, senior vice presi
dent, The First National Bank of St.
Paul; Warren R. Hinze, president,
First State Bank; G. Reed Macomher,
vice president, and Merle V. Stone, vice
president, American National Bank;
Walter A. Carpender, vice president,
Midway National Bank; E. Milton
Ivlohn, executive vice president, Farm
ers Terminal State Bank of Newport;
*
Minnesota News
G. Kennedy, vice president,
Northwestern National Bank; Richard
O. Kong, president, First State Bank
of White Bear Lake; Robert V. Kochendorfer, vice president, Stockyards
National Bank, and Robert Donlan,
trust officer, First Trust Company of
St. Paul. Also participating are 15
high school students from the St. Paul
area.
Introducing the programs and par
ticipants is Gerald Kaphing, assistant
cashier, American National Bank.
* * *
The Northwestern National Bank of
Minneapolis has just made available
its 1963 edition of Family Fishing
Guide, which is free at any of the
Northwestern Banks in the Minneapoplis area.
* * *
William Trussell, Northwestern Na
tional of St. Paul, has been elected
president of the St. Paul Chapter of
A.I.B. Serving with him for 1963-64
are: Robert Balfanz, assistant vice
president, First National, as first vice
president; Jerry N ik itu k , assistant
cashier, First Grand Avenue State
Bank, as second vice president; James
Evans, Midway National Bank, treas
urer, and Marlene Clemen, American
National Bank, secretary. Elected to
the board of governors for a two-year
term were: Donald Undeman and
Alyce Percey, The First National; E.
Milton Klohn, Farmers Terminal State
Bank of Newport, and Anna Tischler,
Cherokee State Bank.
* * *
The first two Knothole game dates
of the ’63 season will be June 15 and
22, with later game dates to be an
nounced.
More than 40,000 youngsters 13
years of age and younger saw the
Twins play last season through the
Twins-Northwestern Banks Knothole
program. Children are admitted free
in groups of five or more, under this
program, and may obtain their admis
sion pass through an adult, who will
accompany them to the game, at any
of the Northwestern banks.
* * *
The challenge facing every teenager
who seeks financial security was
graphically spelled out to more than
225 high school seniors who attended
the recent third annual Economic Con
ference for Young Adults, sponsored
by the First National Bank of Minne
apolis. The students represented sev
en Upper Midwest states.
Among those from the bank who
participated were Gordon Murray,
president; Rufus W . Hanson, execu
tive vice president; Curtiss C. Cole
man, Eyman E. Wakefield, Jr., and
George S. Henry, vice presidents; Rob
Roger
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Federal Reserve Bank of St. Louis
ert L. Stuebing, assistant vice presi
dent; Roger Severson, assistant cash
ier, and Ross Bartz, personnel officer.
* * *
Hewett A. Schoonover, store man
ager, Sears, Roebuck and Company, at
Brookdale Center, has been elected a
director of First Robbinsdale State
Bank, reports John G. Branch, presi
dent.— End.
61
Resigns State Committee
Clifford C. Sommer, president, Secu
rity Bank & Trust Company, Owatonna, has resigned as chairman of
the governor’s business advisory com
mittee to the department of business
development. He had been appointed
to the post in January, 1961, by former
Governor Anderson.
Retires at Park Rapids
Moving to New Center
Officials of the North Shore State
Bank of Wayzata have announced the
leasing of a building in Colonial
Square. The new bank will occupy
part of the new addition to the shop
ping center to be erected soon.
Clifford A. Fuller retired last month
after almost 44 months service to the
Citizens National Bank, Park Rapids.
At 70 years old, Mr. Fuller, cashier, is
retiring in excellent health and has
been active in civic activities as well
as banking circles.
Insura
Select
fo r Bankers!
m GOOD HEALTH MEANS GOOD INCOME!
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Will Pay You Additional Income
During Periods of Disability.
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Write for Application and Literature
MINNESOTA COMMERCIAL
MEN’S ASSOCIATION
PAUL CLEM ENT,
President
2550 PILLSBURY AVENUE
MINNEAPOLIS 4, MINNESOTA
Northwestern Banker, June,
196J
62
Minnesota News
H an kers Visit N a tion *.vL a irm a kers
in n esota
ciatio n
bankers
tional Bank, St. Peter; Julius Brogmus, Minnesota State Bank, St. Paul;
F. A. Buscher, National Bank of
Commerce, Mankato; George E.
Buscher, Alexandria State Bank; H. F.
Chamberlain, Valley State Bank, LeSueur; F. R. Gregory, Zapp National
Bank, St. Cloud; A. G. Sirek, State
Bank of New Prague; George T. Somero, First National Bank, Ely; D. W.
Dunne, Northwest Bancorporation,
Minneapolis; Harold L. Hanson, First
National Bank, Baudette; V. E. Palm
er, Pine River State Bank; George
S. Henry, First National Bank, Minne
apolis; Leonard R. Moeller, St. Paul
Fire & Marine Insurance Company,
St. Paul; G. A. Uggen, Peoples State
Bank, Wells; Herman G. Hamre, State
Bank of Wood Lake; Paul O. Pearson,
Empire State Bank, Cottonwood; Ora
G. Jones, Goodhue County National
Bank, Red Wing; W. D. Schroeder,
Farmers State Bank, Mountain Lake;
Paul W. Gandrud, Swift County Bank,
Benson; C. E. Taylor, First National
Bank, Hibbing; David E. Hanson,
First State Bank, Fertile; R. M. Gesell,
Cherokee State Bank, St. Paul; Wallace
L. Boss, First National Bank, St. Paul;
Dr. E. E. Novak, State Bank of New
Prague; P. R. Kenefick, National Citi
zens Bank, Mankato; R. P. Howe, Citi
zens State Bank, Fulda; K. O. Sattre,
asso
P r e si d e n t Wayne
M
Blackmarr, Wayzata State Bank, MBA
Federal Legislative Committee Chair
man William G. King, First National
Bank, Grand Rapids, and MBA Execu
tive Secretary Kenneth A. Wales led
a 32 member delegation to Washing
ton, D. C., last month for the annual
MBA Federal Legislative trip.
Discussions with legislators and top
supervisory authorities were high on
the list of activities during the week.
The group left Sunday, May 5, for
a flight direct to Washington, and re
turned Wednesday evening, May 8.
Schedule of the Minnesota bankers in
cluded meetings with officials of the
National Association of Supervisors
of State Banks, American Bankers
Association Washington office, U. S.
Chamber of Commerce, Federal De
posit Insurance Corporation, Comp
troller of the Currency, Treasury De
partment, and the Federal Reserve
Board of Governors. A reception and
dinner for Minnesota Congressmen
and Senators and for Washington of
ficials was held Tuesday evening.
In addition to Mr. Blackmarr, Mr.
King, and Mr. Wales, the delegation
included: MBA Vice President Thom
as E. Olson, First National Bank, Starbuck; Sheldon Abrahamson, First Na
Blue Earth State Bank, Blue Earth;
G. A. Redding, Windom State Bank,
Windom.
A
E. Walter Engstrom
E. Walter Engstrom, vice president
of Midland National Bank, Minneapo
lis, and well-known by b a n k e r s
t h r o u g h o u t the
Northcentral and
N orthwestern
U ni te d States,
died last month
after an illness of
several months.
A graduate of
th e G r a d u a t e
School of Bank
ing at Madison,
e . w. e n g s t r o m
Wis., he began
his banking ca
reer in October, 1915, as a member of
the staff of the Scandinavian American
National, forerunner of the Midland
National. With the exception of a
year’s service during World War I,
Mr. Engstrom’s entire working life
was that of a banker, and he served
47 years. He worked in all depart
ments of the bank, the last 25 years
being in the correspondent banking
department. At the time of his death
he was vice president in charge of
that department.
A 32nd Degree Scottish Rite Mason,
he was active in many civic organ
izations and widely-known in Min
nesota for his service to the Min
nesota Bankers Association.
He is survived by his wife, Laura;
a daughter, a son, three grandchildren
and a sister, all of Minneapolis, who
have requested that memorials be
sent to the Shriners Hospital for Crip
pled Children or the Masonic Memo
rial Hospital Fund, Incorporated.
<
4
Open House at Norwood
ST. PAUL BANKERS BLANKET BOND IS A U T O M A T IC A L L Y
BROADER THAN STANDARD FORMS
automatically and simultaneously.
Standard form coverages are auto
matically a part of the St. Paul
Then The St. Paul Bankers Blanket
Bond Form 24 goes beyond to in
clude extended coverages over and
above the basic form.
Bankers Blanket Bond Form 24 with
Extended Coverages. I f the standard
form changes so does The St. Paul
Bankers Blanket Bond Form 2 4 —
T H E ST. PAUL
I N S U R A N C E
C O M P A N I E S
/""A
H O M E O F F IC E
/
For more inform ation
call your
3 8 5 W ashington
S t. Paul, M in n.
Serving you around the world. . . around the dock
S t. Paul
S t.
F ir e
Paul
Northwestern Banker, June, 1963
M a rin e
M ercu ry
W e ste rn
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Federal Reserve Bank of St. Louis
&
L ife
In s u r a n c e
In s u r a n c e
In s u r a n c e
Com pany
Com pany
Com pany
St. Paul Agent today!
An open house was held last month
at the newly-remodeled and expanded
Citizens State Bank of Norwood. Bank
personnel conducted tours and ex
plained new proof machines to a
good turnout of people who also en
joyed refreshments, souvenirs and op
portunities for grand prizes.
President at Spring Valley
Kenneth L. Churchill, vice president
and cashier since January, 1961, and
a director the past nine years of the
First National Bank of Spring Valley,
has been elected president. He suc
ceeds L. H. Gaugert, who has trans
ferred to Alexandria.
Also, Bob Br ei te nbac h, formerly
cashier at the First State Bank of
Litchfield, has resigned that position
to become vice president and cashier
<
Minnesota News
of the bank at Spring Valley. He be
came assistant cashier at Litchfield in
1949 and cashier in 1956.
y
“ Citizen of the Year’ *
*
Roger Page, cashier of the Silver
Bay State Bank, Silver Bay, was named
the Community’s “Citizen of the Year”
last month at a dinner sponsored by
the Lions Club.
Mr. Page, states the certificate, “has
gained for Silver Bay state and na
tional recognition far out of propor
tion for a community of this size.”
Wom an Banker Retires
y
>
Adeline Sundberg, assistant cashier
of the Bank of Willmar, retired re
cently and was honored at a special
dinner at Fireside Inn. In banking
40 years, she was the subject of many
fine testimonials at the dinner and re
ceived a gift from the bank.
Advancements at Mora
►
Directors of the Kanabec State Bank,
Mora, have advanced Frank P. Pow
ers from president to chairman of the
New Auto Bank Opens
A. C. Gooding, Rochester’s oldest ac
tive businessman, attracted a lot of
attention recently when he drove a
1902 auto to the new Auto Bank of
the First National Bank of Rochester
to become the new facility’s first cus
tomer. The new drive-in is at 2nd
Street and 2nd Avenue S.W. and in
cludes two walk-up windows in an all
modern setting.
Sauk Rapids Celebration
The Northwestern State Bank at
Sauk Rapids celebrated 34 years of
service and an interior remodeling
project with an open house last
month. Officers, directors and bank
personnel were on hand to greet the
public and serve refreshments, talk
about the remodeling and distribute
souvenirs and prizes which were
three $15 prizes, four $10 prizes and
eight $5 prizes.
Buys Blanchardsville Bank
Gordon M. Eldon, former member
of the staff of the Northwestern State
Bank, Dawson, recently purchased
controlling interest in the First Na
tional of Blanchardsville, Wis., where
he has been elected president of the
bank. For the past few years he has
For Y o u r
F. P. P O W E R S
been director, cashier and managing
officer of the First National Bank at
Dunnell, Minn.
Joins Staff at Virginia
Ronald J. Havlik, credit analyst,
credit department of the Northwest
Bancorporation, has joined the staff
of the State Bank of Virginia as an
assistant vice president. He will as
sume duties in the installment loan
department, which is under the man
agement of Norman J. Sampson.
Celebrates 50th Year
D. Fay Case, president of the Secu
rity State Bank, Cannon Falls, recent
ly celebrated his 50th year in banking
and was featured in an article in the
Cannon Falls Beacon. Mr. Case began
his banking career in 1913 in Center,
N. D., and after holding various bank
ing responsibilities in four states, be
came president of the Security Bank.
Plans New Building
The State Bank of Belle Plaine
plans to begin construction on a new
bank building around June 15. The
brick building will be 90 by 50 feet,
with a large parking area and drive-in
facilities.
@Ue*tU
ANADIAN
I. C. R ASM U SSEN
board and Irving C. Rasmussen from
executive vice president to president
of the bank.
Patent, Copyright
and T ra d em a rk ...
New National Bank
y
63
An application for a national bank
at Navarre has been filed with the
Comptroller of the Currency.
regulations are outlined in “ Y o u r G u i d e to
B u sin ess in Canada.” published as a service to
American executives by Canada’s First Bank.
Many other essential subjects, including Cana
dian taxes and company formation, are discussed.
Moves to Montevideo
O. B. Rekow, cashier, First National
Bank in Montevideo, recently an
nounced the addition of Gary R. Hunziker to the bank’s staff. Mr. Hunziker is training in the responsibilities
of comptroller and auditor.
This booklet is one of a number of B of M publi
cations which may help you render broader ser
vice to your Canadian-minded customers. For a
free copy, write on your bank letterhead to our
nearest U. S. office or to the Business Develop
ment Division, Head Office, Montreal.
County Bankers Elect
William Studtmann, executive vice
president and cashier, Courtland State
Bank, Courtland, has been elected
president of the Nicollet County Bank
ers Association.
Other officers are: Sheldon Abrahamson, president, First National of
St. Peter, vice president, and Theo.
Halverson, executive vice president
and cashier, Lafayette State Bank, La
fayette, treasurer.
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Federal Reserve Bank of St. Louis
to 3 miuon
a m im
liffil
B a n k
o f
M o n t r ea l
(panada 'd
BRANCHES IN ALL TEN PROVINCES
D istrict H e a d q u a r t e r s :
H a lif a x , T o ro n to , W in n ip e g , C a lg a r y , V a n c o u v e r
W
NEW YORK: Two Wall St.
CH ICAGO : Board of Trade Bldg. • HOUSTON: Suite 716, 1021 Main St.
SAN FRANCISCO: 333 California St. • LOS ANGELES: 508 S. Spring St.
'ZteacC C ^ c c e : ‘Tftoa.t'ieaC
900 BRANCHES IN CANADA, UNITED STATES, GREAT BRITAIN, EUROPE AND JAPAN • RESOURCES $4,000,000,000
Northwestern Banker, June, 1963
64
Minnesota News
7 8 -Year-Old Retires
Earl L. Lindsley, vice president of
the Sterling State Bank, Austin, re
tired recently on the 5th anniversary
of the bank. Mr. Lindsley, 78 years
old, had been in banking 25 years, 20
at the Austin State Bank and five at
the Sterling State.
Double Celebration at Osakis
The First National Bank of Osakis
has just completed a $90,000 remodel
ing program and is planning a celebra
tion in the form of an open house
this month. This month also is the
60th anniversary of the bank, an
nounces K. C. Jones, president.
Changes at Kilkenny
Lowell Pogatchnik, formerly of Som
erset, Wis., has become cashier of the
First National Bank of Kilkenny, suc
ceeding Paul Herges, who resigned re
cently to become cashier of the First
State Bank of Roscoe. Also, Edward
Hammargren, assistant cashier for 21
years, has resigned at Kilkenny. Mrs.
Jim Miller will continue as an assist
ant cashier.
Takes Mankato Appointment
Curtis Zupher, with C om m e r ci a l
Credit the past 11 years, district man
ager the past six, has joined the staff
of the National Citizens Bank in Man
kato as assistant cashier, installment
loan department.
Kenny Wales Honored
Kenneth A. Wales, executive secre
tary of the Minnesota Bankers Asso
ciation, was hon
ored last month
by the Minnesota
F u t u r e Farmers
of A m e r i c a at
their annual con
vention banquet.
Mr. Wal es was
named recipient
of the FFA State
Honorary Degree.
He and the Min
nesota Ban ke r s
Association have been active for many
years in support of FFA, 4-H, ag
scholarships and other farm organiza
tion activities.
New President at Mankato
E. F. Kurth, executive vice presi
dent, American State Bank, Mankato,
was elected president of the bank at
a directors’ meeting last month. He
succeeds the late Edward Langes. Mr.
Kurth has been with the bank since
August, 1957. Prior to that he was
bank examiner with the FDIC.
Also, Quentin Beaded was advanced
from assistant cashier to assistant vice
president; Roger J. Lovik, from assist
ant cashier to cashier, and Shirley
Witty, from teller to assistant cashier.
4
Heads New Bank
John M. Maiers, vice president,
American State Bank, Mankato, has
resigned that position to become presi
dent of the new Valley National Bank
in North Mankato.
Preliminary approval of the new
bank—contingent upon approval of its
formal organization—has been grant
ed by the Comptroller of the Cur
rency.
-4
Stillwater Open House
The Farmers & Merchants State
Bank, Stillwater, held open house re
cently to celebrate completion of the
bank’s remodeling and expansion pro
gram.
The bookkeeping de p ar tme n t has
been relocated, new quarters have
been added for the insurance depart
ment and a new Diebold drive-in facil
ity has been installed. The bank has
been enlarged by one-third.
*”
MORE MINNESOTA NEWS
ON PAGE 7 6
Our Service Is at Your Service”
A daily resolution we have kept for 68 continu
ous years to our Correspondents and Friends in
South Dakota, Iowa, Minnesota and Nebraska.
CLIFF ADAMS
STAN EVANS
ED NEWELL
<
DICK DRAPER
The Live Stock National Bank
SIOUX CITY, IO W A
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION
Northwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
<
65
1963-64 OFFICERS of the South
Dakota Bankers Association are, from
left, A. S. Gullickson, exec, sec.; Scott
Lovald, president, president, First Natl.,
Philip; H. E. Iverson, first vice
president, Farmers State, Canton;
and R. H. Walrath, second vice
president, president First Citizens
Natl., Watertown.
Lovald Named President
K im brel Fea tured at
V IG IL I.
M eeting
By R. DOYLE MINDEN
Associate Editor
N ADDRESS by M. Monroe Kim
brel, president of the American
Bankers Association and chair
man of the board, First National Bank,
Thomson, Ga., highlighted the 71st
annual convention of the South Da
kota Bankers Association held in Wa
tertown last month.
Other features included the election
Scott Lovald, president, First National
Bank, Philip, as president of the asso
ciation; the election of H. E. Iverson,
president, Farmers State Bank, Can
ton, as first vice president, and of R.
H. Walrath, president, First Citizens
National Bank, Watertown, as second
vice president.
Martin Kothe, executive vice presi
dent, Custer County Bank, Custer,
served as second vice president during
the past year, but declined to stand
for election as first vice president on
A
the advice of doctors. Mr. Kothe suf
fered a heart attack last fall.
In the meeting of the South Dakota
members of the American Bankers
Association, Martin Colton, president,
National Bank of South Dakota, Sioux
Falls, was named member of the nomi
nating committee, and G. H. Waltner,
president, First National Bank, Free
man, was elected alternate.
Among the resolutions adopted by
the Association was endorsement of
Reno Odlin, president, Puget Sound
National Bank, Tacoma, Wash., for
vice president of the American Bank
ers Association.
Special Awards
In addition to the regular features
of the convention, two special awards
were presented:
B. J. “Mac” McCartney, representa-
LEFT: Hosts at the Friday luncheon sponsored by South Da
kota banks were, from left, R. J. Berry, sr. v.p., First of Black
Hills, Rapid City; R. W. Walrath, pres., First Citizens Natl.,
Watertown; A. B. Cahalan, v.p., N.W. Natl., Sioux Falls, and
C. C. Lind, pres., First Natl., Aberdeen. CENTER: Arthur J.
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Federal Reserve Bank of St. Louis
tive for U. S. Check Book Company of
Omaha and headquartered in Sioux
Falls, was presented a plaque com
memorating his 40 years of service to
South Dakota bankers. Mr. McCart
ney retired recently.
Glenn Ritterbusch, vice president,
Commercial Trust & Savings Bank,
Mitchell, was presented an A.I.B. Grad
uate Certificate by John Krastins,
cashier, N o rth w e st National Bank,
Sioux Falls, and associate councilman
for A.I.B. in South Dakota. Mr. Rit
terbusch becomes the fifth South Da
kota banker to earn the Graduate Cer
tificate.
Speakers on the opening afternoon
of the convention were Cowles And
rus, special assistant to the deputy ad
ministrator for the Small Business Ad
ministration in Washington, D. C., and
Arthur J. Zito, sales manager, elec-
Zito, left, and Clayton Rand, right, two convention speakers,
are shown with C. F. Stilgebouer, S.D.B.A. pres. RIGHT: Keith
Kohrs, U.S. Cheek Book Co., Sioux Falls; Jim Dawson, Daw
son Ins., Fargo, N.D., and John A. Haerter, v.p., Farmers State,
Hosmer.
Northwestern Banker, June, 1963
66
S o uth
D a ko ta
News
•V
LEFT: K. M. Erdahl, a.c., Roberts Co. Natl., Sisseton; Walter
Johnson, v.p. & cash., Farmers State, Estelline; Mrs. Johnson;
Harold Torness, v.p., Roberts Co. Natl., Sisseton; Otto Preus,
Marquette Natl., Minneapolis. RIGHT: Walter Pailing, pres.,
tronic surveillance systems for Gen
eral Electric Company in Philadelphia.
Mr. Andrus pointed out that the
S.B.A. has “loans for sale” and banks
are encouraged to buy out the S.B.A.
participation in loans. He said that
often a loan that cannot be made by
a bank at its inception can become a
very good bank loan after it has been
held by the S.B.A. for two years.
Mr. Zito’s address was entitled “Just
in Case You Are Headed for a Heart
Attack.” He expressed concern that
too many persons let many little
things rob them of their bigness. The
key to success, he said, is the ability
to do important jobs first and to dele
gate the small jobs to someone else.
He also suggested that it is advan
tageous to give an employee a task
and then let the employee figure out
how it should be done. He said that
this is vital to the growth of the em
ployee’s ability. He stated that it is
important for an individual to recog
nize his potentials and to use them to
his best ability.
Kimbrel’s Address
Opening speaker of the second gen-
American Natl. Bk. & Tr., Rapid City; Earl Keller, sr. v.p.,
American Natl. Bk. & Tr., Rapid City; Max Gutz, exec, v.p.,
First Natl., Selby, and Curtis B. Mateer, exec, v.p., Pierre Natl.
eral session was Mr. Kimbrel. In his
address, Mr. Kimbrel stressed the dan
gers of increasing costs and suggested
several solutions for lagging profits:
—Commercial banks must become
increasingly effective in the savings
field by capturing a larger share of
the savings funds now held by . . .
savings and loan associations and
other nonbank financial institutions.
These are relatively stable funds and
can be put to work in markets which
provide a much higher rate of return.
—Attention should be turned to reg
u la to r y and institutional arrange
ments which complicate the task of
competing with nonbank institutions
for savings funds.
—Some attention must be given the
system of reserve re q u ire m e n ts
against savings funds.
—Bankers must also exercise consid
erable care in developing cost control
programs which will enable them to
determine with accuracy the expense
involved in providing specific services
for their banks.
—Bank earnings and growth are
closely intertwined with the level of
reserve requirements imposed by Fed-
V.F.W.
A
eral Reserve authorities against de
mand deposits . . . lower reserve re
quirements against demand deposits
in commercial banks would permit
substantial earnings relief. Such a
reduction would allow banks to shift
part of their assets out of nonearning
balances with the Fed and put these
funds to work so they would make a
contribution to bank profits.
In conclusion, Mr. Kimbrel said that
banks will thrive and prosper only so
long as they provide useful services
in an efficient way.
Devalue Dollar
Dr. Frederick Mueller, head of the
finance department at De Paul Univer
sity, Chicago, was next on the pro
gram and his address, entitled “ Busi
ness Boom or Bust,” called attention
to the problems facing our economy.
He predicted a possible devaluation of
the dollar within the next 19 months
“after Kennedy is in his second term.”
Dr. Mueller pointed out that the
real value of money has declined rap
idly during recent years and that in
real income our gross national prod
uct has increased only 29 per cent dur-
POST
f
,
7$£
<
LEFT: A. E. Dahl, chm., Am. Natl. Bk. & Tr., Rapid City;
Don F. Delano, v.p., Central Bk. & Tr., Denver; Scott Lovaid,
newly elected S.D.B.A. pres.; A. S. Gullickson, S.D.B.A. exec,
sec.; and Art Friday, a.v.p., Natl. Bk. of South Dakota, Sioux
Falls. RIGHT: M. Monroe Kimbrel, A.B.A., pres., left, visits
Northwestern
Banker, June, 1963
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Federal Reserve Bank of St. Louis
with O. D. Hansen, past pres, of the Independent Bankers
Association, and pres., Bank of Union County, Elk Point, and
Cecil Stilgebouer, outgoing S.D.B.A. pres, and pres., First Pot
ter County State Bank, Gettysburg.
S outh
D a ko ta
News
67
LEFT: John Ordos, a.e., Midland Natl., Minneapolis; Gorden
Maxam, former superintendent of state banks in South Dakota,
and James Kopperud, v.p., Community State, Lake Preston.
CENTER : E. H. Johnson, cash., First State, Roscoe; David
Boies, asst, sec., First of Minneapolis; Mrs. Boyd Hopkins; Boyd
Hopkins, pres., Live Stock State, Artesian. In foreground is
Fred Haw, a.c., First of Minneapolis. RIGHT: A.I.B. graduate
certificate was presented to Glenn Ritterbusch, v.p., Commercial
Tr. & Sav., Mitchell, shown at left, by John Krastins, cash.,
Northwestern Natl., Sioux Falls and associate councilman for
A.I.B.
LEFT: Mrs. Curtis B. Mateer, Pierre; Mrs. C. F. Stilegbouer,
Gettysburg; Mrs. Wayne Nelson, Onida; Ray Dieball, a.c., First
Natl., Chicago; Arlyn W. Wolf, cash., First Natl., Pierre; Mrs.
Wolfe, and Mrs. Lynn Albers, Sioux Falls. RIGHT: Bill Mann-
ing, v.p. & cash., First Natl., Aberdeen; J. S. Chase, pres., Faulk
Co. State, Faulkton; E. C. Pieplow, v.p., First Natl., Aberdeen;
C. C. Lind, pres., First Natl., Aberdeen.
ing the past 10 years, In dollars and
cents the increase has been recorded
as about 50 per cent. He stated that
real income is the only significant
measure of our economy since the ob
jective of the economy is to produce
real goods and not nominal money.
On the subject of the international
balance of payments, Mr. Mueller said
that debts now are beyond the coun
try’s capacity to pay. This, he said,
will lead to the devaluation of the dol
lar.
Final speaker on the program was
C la y ton Rand, author and public
speaker from Gulf Port, Miss.
Mr. Rand stated that he was not as
pessimistic about the future of the
country as Dr. Mueller and predicted
that the country will experience a pe
riod of great advancements around
1964. He called the present times an
“explosive” era and stated that “all
troubles are of our own doing . . .
except for an occasional act of God.”
Mr. Rand c o n c lu d e d by saying
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Federal Reserve Bank of St. Louis
"r e s Sir,
th a t's m y
hank
May we help you
with your
T R A N S IT
and
C O L L E C T IO N
IT E M S ?
BANK
ml
BANK
" N o r t h w e s t e r n
NATIONAL B A N K
Sioux Falls, South Dakota
Northwestern Banker, June, 1963
68
S o uth
D a k o ta
News
LEFT: Bernie Jacobs, v.p,, Cont. 111. Natl. Bk., Chicago; Gerry
Bergman, Cont. 111. Natl. Bk., Chicago; R. W. Walrath, pres.,
First Citizens Natl., Watertown, who was convention chairman,
and Curtis A. Lovre, pres., Northwestern Natl., Sioux Falls.
CENTER: In front are Martin Haar, cash., Farm. & Merch. Bk.,
Aberdeen; and Bill Mateer, a.v.p., Citizens Bk., Mobridge. In
“America isn’t th ro u g h yet. The
young people are becoming more and
more concerned about the future of
the country and are intent on doing
something about it.”
One of the final highlights of the
meetings was the presentation of 40and 50-year service pins. Following
is a list of the recipients:
40-Year—Fred L. Christensen, assist
ant vice president, Bear Butte Valley
office, American National Bank &
Trust Company, Sturgis; Russell B.
Knudsen, cashier, American State
Bank, Yankton; Miss Mary Schnei
der, Aberdeen National Bank, Aber
deen; Clayton Walker who retired ear
lier this year from the Aberdeen Na
tional Bank; L. E. Weaver, president,
First National Bank, Miller, and Fred
40-YEARS OF SERVICE to South Dakota
bankers was recognized at the convention
when A. S. Gullickson, S.D.B.A., executive
secretary, right, p re s e n te d a s p e c ia l
service award to B. J. “Mac” McCartney,
representative for U. S. Check Book Com
pany in South Dakota. Mr. McCartney
retired recently after calling on South
Dakota banks for more than 40 years.
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
the rear are Les Grosz, v.p., Farm. & Merch. Bk., Aberdeen, and
John Diefendorf, a.v.p., Security Natl., Sioux City. RIGHT:
Don Crouley, sr. v.p., Northwestern Natl., Minneapolis, at left,
is shown with Harry Devereaux, dir., American Natl., Rapid
City. Mr. Crouley was attending his 32nd S.D.B.A. meeting.
L. Beskow, president, Farmers State
Bank, Estelline.
50-Year—Arthur John Owens, vice
president, The Onida Bank, Onida,
and L. A. Pier, president, Belvidere
State Bank, Belvidere.—End.
John J. Waltner
John J. Waltner, 99, one of the
founders of the First National Bank
of Freeman, died last month at the
Freeman Community Hospital. He
had come to this country at age 12
from South Russia and spent most
of his life in the Freeman area.
juries suffered in a car mishap the
evening before. He was returning
from a business trip to Minnesota
when his car rolled over several times
on Highway 16 near Valley Springs.
Mr. Nelson operated a service sta
tion in Sioux Falls for two years
after returning from the service and
joined the bank in 1948.
Important Staff Changes
The advisory board of the North
western National Bank, Huron, has
announced t w o
im p o rta n t staff
changes. L ew is
A. M eyers, vice
Surplus Increased
p r e s i d e n t and
Officials of the Bank of Oldham re
ma n a g e r , has
cently voted to increase its surplus
been named vice
from $25,000 to $50,000.
pr e s i d e nt
and
trust officer and
Named to New Bank
John S. Lasher,
Delbert Paul, formerly cashier of
formerly assistant
the First National of Clark, has be
vice president, in
I.
s.
L
A
SH
E
R
come manager-cashier of the new
stallment l o a n
bank in Onida, The Sully County department, Northwestern National
Bank. The new bank’s charter was in Sioux Falls, has been named vice
issued earlier this year.
president and manager, as well as
D ire cto rs have announced that advisory board member.
plans are being drawn now for a new
Mr. Meyers, working closely with
bank building.
the trust department of the North
western National of Sioux Falls, is
Wins NAB AC Award
the only trust official in the Huron
C.
Harlan Hight, comptroller, Northcommunity. Mr. Lasher has been af
western National Bank, Sioux Falls, filiated with the Northwestern Na
recently received the Distinguished tional since 1955, serving in various
Service Award from the National As official capacities in the Sioux Falls
sociation of Bank Auditors and Comp bank and at Chamberlain.
trollers. He has served as District
Six NABAC director two years.
Northwestern National Changes
C. A. Lovre, president of the North
western National Bank of Sioux Falls,
Dale Nelson
Dale Nelson, 39, assistant vice pres has announced that Larry J. Cornell,
ident, Northwestern National Bank of assistant vice president, Madison Of
Sioux Falls, died recently from in fice, has been named assistant man-
4
S outh
ager, installment banking department
at the head office; P. H. “Mick” Mc
Dowell, Jr., formerly assistant vice
president, installment banking depart
ment, has been named assistant vice
president and manager of the install
ment banking department of the
Madison Office, and Curtis H. Alberty,
with the bank as ag representative
since July of last year, has been
elected assistant cashier in the big
ag department in Sioux Falls.
D a k o ta
News
69
F or Sioux F u lls S k ylin e
AIB Election
At the Annual Spring Banquet of
the Sioux Falls Chapter, AIB, these
men were elected to serve three-year
terms on the board of governors:
Warren Nelson, First National; Don
Jorgensen, National Bank of South
Dakota, and Bob Hersrud, Sioux Val
ley Bank.
B.
E. Bork, president of the Chap
NEW 10-story building for National Bank of South Dakota.
ter, and master of ceremonies, intro
duced the four class instructors, who
Two drive-in windows on the south
new 10-story building to house
introduced their students. Adolph
the expanding facilities of the side will be accessible from the street
Lodmell, vice president and senior National Bank of South Dakota and level of a 3-ramp parking area which
trust officer, Northwestern National, provide seven floors of office space will accommodate 126 cars.
was guest speaker at this, the 40th an is underway. The 132-foot high struc
The penthouse, to be set back six
niversary meeting of the Chapter.
ture of white marble, stainless steel, feet from the main building’s face,
aluminum and glass, at the south and which will be the top floor, will
Changes Bank’ s Name
west corner of Main Avenue and be illuminated at night. It will house
The Underwood State Bank became Eighth Street, will be the city’s high air-conditioning, boilers, elevator and
the First National Bank the first of est office building. Also, it will be other mechanical equipment for the
this month. Headquarters of the bank the largest bank building in the area entire building. Two high-speed ele
have been maintained in Wall, with comprising North and South Dakota, vators will be in the entrance lobby
a branch at New Underwood, where Southern Minnesota, Western Iowa and another will be for freight and
the main office was located many and Northern Nebraska.
passengers in the west vestibule.
years.
A new bank building is under con
struction in Wall and should be
ready in July or August.
The space in the bank has been
ETWEEN 1,000 and 1,500 persons
attended the recent open house nearly doubled by this newly-com
Expansion at Watertown
The First Citizens National Bank of of the First State Bank of Highmore pleted project.
Watertown is planning expansion in to view the recently remodeled and
two directions. Public acceptance of enlarged bank quarters.
the drive-in banking windows, re
ports R. H. Walrath, president, has
necessitated at least two lanes of traf
fic moving through at all times, so
it is possible a TV-Auto Banker—first
in the area—will be installed. This
phase of the expansion will be to the
north of present quarters and will
require removal of the ASC office
building.
To the east—quarters of Harold’s
Camera Shop—the bank plans to ex
VISITING during open house at First
State Bank of Highmore were, from left:
pand and enlarge its installment lend
F. D. Harrington, v.p., First Service Corp.,
ing department. The expanding real
view shows liow adjacent
Mpls.; Granger Costikyan, pres., First
estate department is to be moved in EXTERIOR
building was incorporated into First State
Bank Stock Corp., Mpls., and John A.
its entirety into these quarters.
Bank of Highmore.
Hardesty, pres., First State Bank.
A
Itifl T urn ou t nt
B
The National Bank
OF
SOUTH
DAKOTA
Member of Federal Deposit Insurance Corporation
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
CORSICA
HURON
PLATTE
PRESHO
VERMILLION
WESSINGTON SPRINGS
SIOUX FALLS
Phillips at 9th
S. Minnesota at 33rd
E* 10th at ° maha
Affiliated with F IR ST B A N K STOCK CORPORATION
Northwestern Banker, June, 1963
70
AS NEW OFFICERS WERE INSTALLED,
A. M. Eriksmoen, left, exec, v.p., Dakota
National of Fargo, hands gavel, as retir
ing NDBA president, to (continuing from
le f t ): O. K. Anderson, pres., State Bank
of Dakota, new NDBA pres.; V. F. Hegeholz, pres., Peoples & Enderlin State Bank,
Enderlin, 1st v.p., and Gordon Weber,
pres., Farmers State Bank, Lisbon, new
2nd v.p. A. A. Mayer, pres., Dakota Na
tional of Bismarck, was elected treasurer,
but was not present.
-I
North Dakota Bankers’ Convention Report
By W ALTER T. PROCTOR, Associate Editor:
N ever a
DullM om ent at
ND BA convention attracts record attendance of ap
proximately 500 bankers and guests, despite cold
rains, winds.
Bankers disagree ivith governor, with Saxon, and
with each other on some points, but stress N D BA
unity.
O. K . Anderson, Lakota, becomes president ; Gordon
W eber, Lisbon, moves into line behind V. F. Hegeholz, Enderlin.
Bowling tournament attracts record number of en
tries as women, ivith their handicaps, win all the
honors.
Association eyes intensive study of the state’s bank
ing laws with aim to bring them up to date.
Six tornadoes in the area chase bankers from motels
at 3 a.m. to civil defense shelters.
HIS convention had everything!
And it probably was the best in
terest-wise that the Association—
long famous for its great conventions
—has ever had.
Committees had done an excellent
job . . . and this was good as North
Dakota bankers, remembering the
great convention in Dickinson in ’57,
turned out in record numbers. The
attendance hovered around the 500
T
mark, about 150 more than attended
the ’57 meeting.
The first evening’s “get acquainted”
social hour and buffet was well-spon
sored and featured entertainment by
the “ Ink Spots,” who sang all of the
old favorites. Dancing followed.
The Speakers
Friday morning’s program featured
informative talks by Cowles Andrus,
special assistant, Small Business Ad
ministration; Manuel H. Ruder, vice
president, American National of St.
Paul, and Kurt Flexner, deputy man
ager, ABA mortgage finance commit
tee. The Friday luncheon featured a
talk by North Dakota’s governor, William Guy, and Col. Gilbert Friederichs,
commanding officer, Minot Air Base.
Friday afternoon was left open for
bankers, wives and other guests to
y
A
<
WELL-KNOWN AND RESPECTED family of the NDBA are
the Stenehjems of Watford City. In first photo, from left, are:
Mrs. Lee M. Stenehjem, O. N. Stenhjem, Mrs. O. N., and Lee M.
Lee is 1st v.p., Independent Bankers Association. O. N. and Lee
are pres., and exec, v.p., respectively, of First National Bank,
Watford City. SECOND PHOTO— Bill Daner, NDBA exec, secy.,
Northwestern Banker, June, 7963
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Federal Reserve Bank of St. Louis
busy with convention details. THIRD PHOTO: Visiting friends,
from left: Lyle Askerooth and Jim Dawson, of Dawson Hail
Insurance, Fargo, and the Jack Petersons of Buffalo. Mr. Pe
terson, pres., First State Bank, Buffalo, won the NDBA trapshoot tournament.
N o rth
D a ko ta
News
71
ON THE WAY TO THE STATION, from left, are: John C. Archibald, a.v.p., Chase Manhattan
Bank of New York, and Walter L. Fredrickson,v.p., First American National of Duluth. SEC
OND PHOTO— Two Jamestown bankers visit with Wallace L. Boss, center, v.p., First of St.
Paul. They are H. Laurel Youtz, left, pres., Jamestown National, and E. W. Hauser, pres., First
James Eiver Bank. THIRD PHOTO— Long-time friends visit, from left: Larry M. Broom and
Len P. Gisvold, both v.p., Northwestern National of Minneapolis; Mrs. and Mr. Gale H. Hernett, of Ashley; Dwight C. McVay, cash., and Lloyd C. Kempf, pres., both of Grant County
State Bank, Carson.
CANADIAN FRIEND of the NDBA, Charles E. Hickling, left,
mgr., business development, Canadian Imperial Bank of Com
merce, Winnipeg, visits with D. M. Johnson, v.p., Midland Na
tional of Minneapolis. SECOND PHOTO—Jim Duncan, cash.,
Citizens State Bank, Neche., and Karl Velde, Jr., investment
dept., Harris Trust & Savings, Chicago, at the Badlands BarB-Q. THIRD PHOTO— Carl Berg, pres., Merchants & Farmers
Bank of Cavalier, a convention speaker, asks Martin Aas, pres.,
First State Bank of New Rockford, if he can see the NORTH
WESTERN BANKER door prize Mr. Aas has just won. Mr.
Aas was president of the NDBA 23 years ago. FOURTH
PHOTO—Vic C. von Meding, v.p., First National of Chicago,
and Ted Sette, exec, v.p., State Bank of Burleigh county, Bis
marck, relax after the big Badlands Bar-B-Q.
A REAL FUN GIMMICK at the convention was the BMR
(Burroughs Mind Reader). The subject— in this case, A. M.
Eriksmoen, Fargo, retiring NDBA president—is seated with an
electronic cap on his head. The light on the cap flashes off! and
on as the “ mind reader” is activated. The machine then sub
mits a slip of paper on which a clever (sometimes rather per
sonal) “ thought” had been printed. In photo with Mr. Eriks
moen, who is seated, are, from left: O. K. Anderson, Lakota,
incoming NDBA pres., and these men from Burroughs Corp.:
Bill Nelson, Fargo; Bob Cherry, Fargo, and Tony Gunderson,
Bismarck. PHOTO AT RIGHT—From left: Rollie Johnson,
Jamestown, sales rep., Deluxe Check Printers; Bill K. Stem,
a.c., and Dave B. Boies, standing, asst, sec., trust dept., both
of First of Minneapolis; Douglas C. Salter, a.v.p., and Robert
B. Stokke, Jr., official asst., both of First National City of New
York. Seated in front of Mr. Salter is Fred E. Haw, a.c., First
of Minneapolis.
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Northwestern Banker, June, 1963
72
N o rth
D a k o ta
News
BOWLING WAS KING this year with an exceptional turnout. Mrs. John
Shaffer, left, is excited about picking up a hard-to-get spare. Her husband,
assistant vice president, First State Bank, Cando, was runner-up in golf
tourney. Mrs. Clark Richards, at far right, is excited about a strike she just
made. Her husband is manager, Leonard Station, Casselton State Bank.
SECOND PHOTO— Gracious hostess, Mrs. E. A. Nachtwey, pres., First Na
tional of Dickinson, welcomes Fred Orth, bd. ehm., First National of Grand
Forks. THIRD PHOTO— Convention speakers, from left, in foreground:
Cowles Andrus, sp. asst., Small Business Administration, and Kurt Flexner,
deputy mgr., ABA Mortgage Finance Committee.
participate in three tournaments . . .
and although the wind was cold, there
were contestants in all three tourneys
—Bowling, Golf and Trapshoot, with
an exceptional number of bowling en
tries.
Winners in these events were: Bowl
ing—Lucile Bender, wife of the cash
ier, First State Bank, Gackle, first, and
Inez Madden, cashier, Farmers State
of Ypsilanti, second. Golf—Les Her
zog, assistant vice president, Union
National Bank, Minot, first, and John
Shaeffer, assistant cashier, First State
Bank, Cando, second. Trapshoot—Jack
Peterson, president, First State of Buf
falo, first; F. Phil Giltner, president,
First National of Grand Forks, second;
Earl Weydahl, vice president, Bank
of Killdeer, third; Robert M. Leslie,
president, First National of Mandan,
fourth, and Pat McGuire, Minneapolis,
fifth.
Six Tornadoes!
Friday evening featured the annual
social hour, banquet and dance. And
after trophies were given tourney
winners, Gary Gariepy, head of an in
ternational sales school, gave a dy
namic presentation on self motiva
tion. The big dance usually completes
the evening, but this is one evening
that went on all night long for many.
At 3 a.m. sirens began screaming all
over the city and civil defense cars
with loud speakers blaring toured the
area warning everyone to head for
civil defense shelters. Six tornadoes
were in the area and two were head
ing straight for Dickinson.
Bankers, wives and guests hurried
to shelters . . . and the lobbies of the
theater and hotel were jammed with
people in various stages of dress,
many clinging to pillows and blankets.
After one and one-half hours of hectic
anticipation, they were allowed to re
turn to bed. The tornadoes had gone
right over the city without touching
down.
Saturday morning’s program fea
tured an excellent talk on small bank
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
installment loan departments by Carl
Berg, president, Merchants & Farmers
Bank of Cavalier; messages by the re
tiring president, the incoming presi
dent, Bill Daner on legislative action
and the election of new officers.
A picture of the new officers, with
their identifications, appears at the
start of this convention report. Mem
bers of the ABA elected Earl Wey
dahl, vice president, Bank of Killdeer,
as member of the ABA nominating
committee, with O. K. Anderson, pres
ident, State Bank of Lakota, as alter
nate.
The meetings and events just de
scribed were interesting, informative
and would have made any convention
a successful one, but the real excite
ment of this particular convention
came early in the convention when
Governor Guy appeared on the Friday
luncheon program as guest of the As
sociation.
In a talk, which he had already re
leased to the press, the governor took
issue with James J. Saxon, Comptrol
ler of the Currency, pointing out that
state regulations should be respected
by the comptroller. He said Mr. Sax
on says he is stimulating competition
by permitting a national bank (Dako
ta National of Fargo) to open a
branch in a nearby area (South Far
go), “but the comptroller actually is
stifling competition.” The governor
also referred to an irregularity or two
by a few national banks in the state.
Eriksmoen Scolds Governor
A. M. Eriksmoen, NDBA president,
took the floor to tell the governor that
he (Governor Guy) was ill-advised to
make such statements to the public
. . . to release to the press such an
attack on national banks . . . that
such an attack was an attack on the
entire industry. Governor Guy did
not reply.
Mr. Eriksmoen said he would have
more to say at the next session in the
morning. And that he did.
In his president’s address he said
recent developments in the state have
indicated the need for a revision of
the state banking laws and suggested
that Bill Daner, Bismarck attorney,
and NDBA executive secretary, be
hired to make an intensive study of
the laws and make recommendations.
“Our horse and buggy banking laws
must be brought up to date,” he said.
“Also, the dual system of banking
has always been cooperative in this
state and a split in differences would
benefit only the competition.”
At this point he turned the meeting
over to O. K. Anderson, president
elect, and requested permission to ad
dress the convention.
“Letter” of the Law
CONGRATULATIONS to Phil Giltner,
right, pres., First National of Grand
Forks, for runner-up honors in the NDBA
Trapshoot Tourney, are extended by Don
ald C. Jackson, v.p., Irving Trust Com
pany, New York.
He then continued, stating that
Governor Guy had disregarded the
Association’s hospitality by releasing
to the press his attack on the U. S.
comptroller for issuing a charter to
the Dakota National of Fargo for a
branch in South Fargo. Mr. Eriks
moen, who is executive vice president
of the bank in question, pointed out
that the law at that time permitted
such action as the bank and the comp
troller had taken a broad definition of
the wording of the law . . . and “our
N o rth
legal counsel concurs with the comp
troller’s decision.”
In his acceptance of office, the new
president, O. K. Anderson, said Mr.
Eriksmoen had experienced several
trying months with a conflict of inter
est as NDBA president and as a pri
vate banker. “He has remained im
partial,” Mr. Anderson said, “and has
not used his office to further his per
sonal position.”
Mr. Anderson, president of a state
bank, agreed that a friendly relation
ship between state and national banks
in North Dakota has been mutually
beneficial and must continue. “There
are two sides to every question,” he
said, “and although recent develop
ments in the state may cause prob
lems, we must continue to be unified,
Governor Guy should not have at
tacked Mr. Saxon and national banks
as it weakens our entire banking sys
tem. We state bankers must see our
own house in order before we try to
clean up the comptroller’s office.”
Mr. Anderson also said the comp
troller could accomplish more with a
concern for the good of banking as
a whole rather than seeing his own
personal opinions advance. Mr. Saxon
says we must have more competition,
he continued, perhaps he doesn’t re
member keen competitive eras of the
past and the disastrous results.
To Bismarck Staff
Moves to Carrington
Claude Zweber, assistant cashier at
the Bank of Willmar, has accepted the
position of assistant vice president of
the Foster County State Bank of Car
rington.
News
73
F argo P rog ress
Wilbert L. Murray, auditor and per
sonnel and operation officer at the
First National of East Grand Forks,
has joined the staff of the First Na
tional of Bismarck as assistant cash
ier, commercial loan section.
J. A. O’ Brien Honored
J. A. O’Brien, executive vice presi
dent, Liberty National Bank of Dick
inson, was honored recently by em
ployees of the bank in observance of
his 50th year in
banking.
He w as sur
prised with a spe
cially - decorated
cake when he ar
rived at work the
mo r n i n g of the
celebration. A n d
friends joined em
p l o y e e s dur i ng
the afternoon for
cake, coffee and
congratulations for Mr. O’Brien.
Mr. O’Brien, one of two host bankers
at last month’s outstanding conven
tion of the North Dakota Bankers
Association, began his career at the
First National in Washburn in 1913
and has been associated with the Lib
erty National in Dickinson since 1933.
Urges NDBA Unity
“There has been talk of a separate
state banking association in this state
and a separate national banking asso
ciation nationally. I urge that we
stay as the North Dakota Bankers
Association and work out our prob
lems together. Also, I urge a thor
ough study of the state banking laws
by competent legal counsel and a re
port on this study before the next
legislature. We can’t do today’s work
with yesterday’s tools and expect to
be in business tomorrow.”
In his legislative report, Bill Daner
said, the 61 trust companies that have
been chartered in the state, some for
speculation, merely have a piece of
paper. Most were chartered in Bis
marck, he said and their articles must
be amended before they can form in
another community. All trust compa
nies now are subject to the state bank
ing board and state banking laws.
“ These companies must show a
need for such a facility in a commu
nity and in most cases will not get
into business,” he concluded.
D a k o ta
BREAKING GROUND for the $1,000,000
building to be erected by Merchants Na
tional Bank and Trust Company of Fargo
is Mayor Herschel Lashkowitz. Construc
tion started recently on the bank’s new
home, which will be in addition to the
$400,000 public parking ramp and motor
bank that was completed just 30 days
prior to the above ground-breaking cere
mony. In the photo, from left, are: Adrian
O. McLellan, pres., of the bank; Fred
Scheel, pres., Fargo Chamber of Commerce,
and Joseph Powers of T. F. Powers Con
struction Co., general contractor.
D. Gust, from assistant auditor to au
ditor, and James L. Glinski, to assist
ant auditor.
Trust Department Addition
Robert D. Kline, C.L.U. (Chartered
Life Underwriter), formerly consult
ant, agency special services division,
Equitable Life Assurance Society of
New York, has joined the staff of the
Bankers State Bank & Trust of Fargo
as assistant trust officer.
Two More at Fargo
Applications were filed recently for
national banks at West Fargo and
Southwest Fargo. The Merchants Na
tional Bank & Trust of Fargo has
applied for authority to establish a
branch at West Fargo and a group
of Southwest Fargo businessmen has
applied for permission to organize a
new bank in their area of town.
Seeking the new bank at Southwest
Fargo are: A. I. Lorentzen, president
of Fireside Investment Corp.; Clay
ton Lodoen, manager; Ernest H. Eissner, stockholder; M. J. Helling, secre
tary, and Joe M. Farrell, vice presi
dent.
E. Grand Forks Promotions
Promoted at the First National
Bank of East Grand Forks recently
were Gordon Justus, to loan officer,
installment loan department; Leonard
Joins New Bank
Dennis Douville, formerly manager
of the bookkeeping and proof depart
ment, First National Bank & Trust
Company, Fargo, has joined the staff
of the newly-opened Community Na
tional Bank of Grand Forks as assist
ant manager. The bank, now in the
Palay Building, plan a new bank
building at the northwest corner of
17th Avenue S. and South Washington.
The new Colonial style building will
include drive-in facilities.
60th Anniversary
The Lincoln State Bank, Hankinson,
observes its 60th anniversary August
4. Organized August 4, 1903, at Glenburn, the bank operated there until
August 5, 1935, when it moved to Han
kinson. The Wyndmere Office was
opened in December, 1956.
Self ridge Branch Approved
The Mandan Security Bank recently
received approval for the opening of
a branch bank in Selfridge. A lease
for rental space in the S&L Office
Building has been signed and it is
possible the branch may have been
opened in late May.
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
74
M ontana Kankers to tiranti Tétons
60th Annual Convention, Montana Bankers Association, Is June 20-22
At Jackson Lake Lodge, Moran,
N INTERESTING and informative pro
A
gram has been planned for the Montana
Bankers Association’s 60th Annual Conven
SPECIAL
CENTENNIAL PARTY
This being the Centennial
year of the dual banking sys
temin the UnitedStates and
next year being the Centen
nial year for the Big Sky
Country in Montana, we are
going to have a Centennial
Partyat the convention. Fri
dayevening, startingwiththe
social hour preceding din
ner, everyone is being asked
to dress in clothes appropri
ate for that wonderful year
of 1864.
If everyone ivill enter into
the spirit of the occasion a
good time is assured for all
—start planning your ward
robe now.
R. C. WALLACE
Secretary-Treasurer
tion, June 20-22, at the beautiful Jackson Lake
Lodge in the Grand Teton area of Wyoming.
At this writing a few program details re
mained to be completed, but R. C. Wallace,
MBA secretary, said convention committees
are exceptionally excited about the quality of
this year’s annual meeting.
“Because we are meeting in Jackson Hole
Country — a valley of beautiful lakes and
R. C. W A L L A C E
M B A Secretary
streams surrounded by the soaring peaks of
the Tetons—we have emphasized social events
and entertainment, but not at the expense of
an outstanding array of speakers,” said Mr. Wallace.
Highlights of the program include these entertaining speakers:
James F. Murray, New York attorney, with “ Politics, Government
and the Banker.”
W. T. G. Haekett, Jr., senior assistant general manager, Bank of
Montreal, with “The Canadian Banking System and How It Differs
From Banking in the U. S.”
Dr. Richard C. Bates, M.D., Lansing, Mich., with “How to Have
a Heart Attack.”
S. GANGE
Speaker
W . T. G. H A C K E T T
Speaker
E. L. K U N K E L , JR.
M B A President
GREETINGS! Bankers and Friends
Laurel
The Yellowstone Banks
B. Meyer Harris, President
56 YEARS OF BANKING IN MONTANA
Members Federal Reserve System
Members Federal Deposit Insurance Corporation
Northwestern Banker, June, 7963
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Federal Reserve Bank of St. Louis
Columbus
M o n ta n a
Stary Gange, Visalia, Calif., with “Americanism.”
president, First Pennsylvania Bank & Trust,
Philadelphia. He has been chairman, ABA Credit Policy Commis
sion. Topic of his talk was not available.
The convention gets underway at 6 p.m. at the Lodge Thursday
evening, June 20, and will end Saturday noon after the election and
installation of the new officers.
The Friday evening party is a Centennial Party and all who at
tend have been urged to wear clothes appropriate for 1863.
W illia m
F . K e lly ,
To Miners National Board
Sylvan J. Pauly
Earl H. Britton has been elected a
director of the Miners National Bank,
Butte, succeeding Larry Smith, re
cently resigned, according to Harold
Pitts, president. Mr. Britton is vice
president and general manager of the
Montana Livestock Auction Company
and a partner in the B&L Livestock
Order Buying Company.
Sylvan J. Pauly, prominent civic
leader in Deer Lodge and chairman
of the board of the Deer Lodge Bank
& Trust, died last month in a Butte
Joins Yellowstone Bank
Officials of The Yellowstone Bank,
Columbus, have announced the ap
pointment of William G. Hammond,
successful operator of his 800-acre ir
rigated farm south of Fishtail, to the
staff of the bank. After a training
program in the Columbus bank, he
is to become associated with The
Yellowstone Bank at Absarokee.
Sponsors Feeder Tour
The Conrad National Bank, Kalispell, recently sponsored a feeder tour
of the Columbia Basin of Washing
ton, the tour conducted by W. W.
Mauritson, ag representative of the
bank, and for the area’s major feed
ers. Feeding is just getting a good
start in the Flathead Valley of north
western Montana.
The tour included visiting the nu
tritional research center at Washing
ton State University at Pullman, and
a number of stops in the Moses Lake,
Othello, and Quincy areas of the famed
Columbia Basin irrigation project.
County Agent George Delaney of
Ephrata, Wash., and Gene Dickerson
of the National Bank of Commerce of
Moses Lake, made local arrangements
and accompanied the group on their
tour of the basin.
All of the local Flathead men at
tending were enthusiastic and brought
back a number of ideas for increas
ing the efficiency of feeding opera
tions in northwestern Montana.
News
75
hospital, where he had been a patient
two weeks.
Mr. Pauly was one of Montana’s
leading livestock men and was a
past president, National Woolgrowers
Association and honorary life presi
dent and member of the executive
board of the National Association.
N. B. Matthews
N. B. Matthews, president of the
Basin State Bank in Stanford, died
May 19. He was a past president of
the Montana Bankers Association and
was active in the Independent Bank
ers Association.
Our 6 5 t h year
o f experience in providing
superior correspondent facilities
fo r Montana Banks
UNION BANK AND
TRUST COMPANY
HELENA
MONTANA
Member Federal Deposit Insurance Corporation
SECURITY
T R U S T & S A V IN G S
BANK
B ILLIN G S . M ONTANA
New Officer at Dillon
Joe Finkel, former member of the
State Bank Examiners office at Hel
ena, has been elected vice president
of the State Bank & Trust of Dillon.
He will have charge of the bank’s
internal operations, including person
nel, real estate and city business.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Serving Montana, W yoming and Western North Dakota with
Prompt and Careful Correspondent Service.
Member Federal Deposit Insurance Corporation
Member of Federal Reserve System
Northwestern Banker, Ju ne, 1963
76
M o n ta n a
News
New Absarokee Bank
A new bank, the Montana National
Bank of Absarokee, has been organ
ized with a capitalization of $200,000,
the board of directors announced last
month.
Stockholders have elected Edward
Towe of Circle, president and director;
Harry Jones, Red Lodge, vice presi
dent and director, and Ambrose Heimer of Absarokee, cashier and direc
tor. Other directors are Ronald Rhyneer and a Dr. Hendrickson, both of
Absarokee.
“The bank will be open in the very
near future,” Mr. Jones said.
There is another new bank, a state-
chartered bank, in Absarokee, a town
of about 600 population.
MORE MINNESOTA NEWS
Capital Stock Increases
To Crookston Board
Dr. Harold R. Thysell, with the
Crookston clinic since June, 1952, has
been elected to the board of the First
National of Crookston.
Loan Ceilings Lifted
Ceilings on bank installment loans
in Minnesota were lifted last month
from $3,000 to $5,000, under terms of
DEER LO D G E B A N K
and TRUST COMPANY
DEER LODGE, MONTANA
HENRY
J. H T K I L L , P r e s id e n t
H AROLD
D . B A R T O N , A s s t . V .P .
A L D R E D J. D O N I C H , V ic e P r e s id e n t
G . H . P E C K , C a s h ie r
D O N W . T A V E N N E R , V ic e P r e s id e n t
R O N A L D A . R IC C O , A s s t. C a s h ie r
Neil Spieker
Thomas O. Collins
a bill signed by Governor Karl Rolvaag. At the same time, the maturity
of loans was extended from three
years to five years and 32 days.
DIRECTORS
George M. Mungas
Thomas Geary
Don W . Tavenner
Henry J. Hukill
Fred D. Jacobson
Serving Western Montana tvith Complete
Banking Facilities
Member Federal Reserve System
Member Federal Deposit Insurance Corporation
HALF A CENTURY FOR US
In this Centennial Year of Banking
ofci cUa dtsilp yjoju in JthQ fijUliwfA (btsua
Recent capital stock increases in
Minnesota have been reported as fol
lows:
Bayport — First State Bank from
$90,000 to $180,000, via stock dividend
and sale of new stock.
Clearbrook—First State Bank, from
$25,000 to $50,000, via sale of new
stock.
Halstad — Red River State Bank,
from $30,000 to $60,000, via stock divi
dend.
Maple Plain—State Bank, from $50,000 to $60,000, via sale of new stock.
Mound—State Bank, from $75,000 to
$100,000, via stock dividend.
Redwood Falls — Cititzens State
Bank, from $100,000 to $200,000, via
stock dividend.
Spring Grove, from $75,000 to $100,000, via stock dividend.
New Director at Austin
George Dugan, Austin businessman,
was elected a director of the Austin
State Bank last month, according to
the late Dr. W. A. Albertson.
Citizens at Roscoe
Want Bank to Stay
The citizens of Roscoe were to hold
a town meeting last late month to see
what they could do to persuade the
First State Bank of Roscoe not to
move to Paynesville. The population
of the community is 179, according
to the 1960 census, and the people are
afraid that if the bank leaves town,
so will other businesses and the town
will fold.
The bank was featured in an arti
cle in N orthwestern B anker recently
when it decided to install electricity.
A kerosene lamp had been used until
just a few months ago. One of the
bank’s two light bulbs has burned out
since and Isadore Muggli, cashier,
whose father began the bank in 1907,
has said there is no need to replace it
as there is plenty of light coming in
from the window.
Turtle Lake Remodeling
FIRST NATIONAL BANK
BILLINGS, MONTANA
Member Federal Deposit Insurance Corporation
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
The Farmers Security Bank Build
ing, Turtle Lake, is undergoing an ex
tensive remodeling program. There
will be a complete face lifting of the
front of the building and a new en
velope night depository will be placed
near the front entrance. The ceiling
will be lowered, teller bars will be re
moved and old-style radiators will be
replaced with baseboard heating.
77
“ If e're especially proud of our program this year and
hope you will all join us June 13-15. The speakers are
outstanding and our social events include a big social
hour, picnic and dance the first evening and a big social
hour, banquet and top-flight entertainment the second
evening. We’ll be looking for you.”
—Vern Eastman, WBA President
Wyoming Kankors Moot June 13-15
At Jaeksou Luke Lodge
OFFICIAL CONVENTION PROGRAM
THURSDAY, JUNE 13
P.M.
5:00-??
HIS year’s convention—the 55th
Annual for the Wyoming Bank
ers Asssociation—“lifts off” at 5
p.m., Thursday, June 13, with a big
social hour, picnic and dance . . . and
ends Saturday noon, June 15, after
the election and installation of new
officers. In between those events are
several fine talks by top-flight men in
banking and government and plenty
of opportunity to enjoy the social ac
tivities provided by the Association,
Jackson Lake Lodge . . . and the
Grand Tetons themselves.
T
Social Hour at 5; Indoor Picnic at 6:15; Dancing at 9 (casual clothes).
FRIDAY, JUNE 14
A.M.
9:30
Call to Order—Jackson Lake Lodge.
Invocation—The Rev. Loyal Hiatt, First Baptist Church, Jackson.
Address of Welcome—Miss Wyoming (Gretchen Stainbrook, Univer
sity of Wyoming).
President’s Address—Vern Eastman, WBA President, and Executive
Vice President and Cashier, First National of Thermopolis.
Scholarship Committee Report—John W. France, President, The Raw
lins Bank.
Report in Committee on Savings and Loans—John W. France, Presi
dent, The Rawlins Bank.
Address—Milward L. Simpson, U. S. Senator.
P.M.
12:30
1:30
Ladies’ Luncheon and Men’s Luncheon.
Call to Order—Jackson Lake Lodge.
“Operation Bootstrap”—Elton McQuery, Director, Western Office of
Counsel of State Governments, San Francisco.
“Free Enterprise or Disaster”—Dr. Nicholas Nyaradi, Director, School
of International Studies, Bradley University, Peoria, 111.
5:30 Social Hour.
7:00 Annual Banquet (entertaining will be Seymour Davis, Oklahoma City
humorist-magician).
SATURDAY, JUNE 15
A.M.
8:00
9:30
D. K. H O G O B O O M
W . H. N EAL
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Federal Reserve Bank of St. Louis
Peeps (Past presidents) Breakfast.
Call to Order—Jackson Lake Lodge.
Resolutions Committee Report—A. Edward Kendig, Vice President
and Cashier, State Bank of Wheatland.
Audit Committee Report—Donald K. Hogoboom, President, Security
Bank & Trust, Casper.
Legislative Committee Report—H. F. Esmay, President, Stockmen’s
Bank, Gillette.
Presentation of Savings Bond Award—William H. Neal, Assistant
to the Secretary of the Treasury, and National Director of the Savings
Bond Division.
Report of Executive Council of ABA—D. M. Crouse, President, Ameri
can National Bank, Riverton.
Nominations—R. A. Nelson, President, The First National Bank of
Powell and Installation of New Officers.
Election of Officers (for both the WBA and the ABA).—End.
Northwestern Banker, June, 1963
78
W y o m in g
News
Bank Women to Meet
Cheyenne will be the host city for
the June 8 and 9 Annual Spring Meet
ing of the Wyoming Group of the
National Association of Bank Women.
Elect NABAC Officers
Floyd Harmon, First National Bank
of Lander, was elected president of
the Wyoming Association of the Na
tional Association of Bank Auditors
and Comptrollers at last month’s an
nual meeting at Rawlins.
Elected also were John Waeckerlin,
First National of Rawlins, vice pres
ident, and Larry Day, First National
of Lander, secretary-treasurer.
Harold Anderson, auditor, First Na
tional of Denver, was the main speak
er on the program which also featured
a round table discussion and the
showing of a film explaining NABAC.
Group II Officers
William H. Brown, assistant cash
ier, First National Bank of Casper,
was elected president of Group II of
the Wyoming Bankers Association at
the recent annual meeting of that
group in Sheridan.
Other new officers of the group are
Andy Hansen, vice president and cash
ier, First State Bank of Newcastle,
vice president, and Robert G. Miller,
assistant vice president, First Na
tional Bank of Sheridan.
Hosts for the meeting and the ban
quet and dance were the Sheridan
banks—Bank of Commerce and The
First National Bank.
Group III Officers
George Hutt, executive vice presi
dent of the First National of Rawlins
was elected president of Group III
of the Wyoming Bankers Association
at their recent annual meeting at
Wheatland. Serving with Mr. Hutt
are Clarence Schiliske, executive vice
president, Farmers State Bank of
Burns, as vice president, and John
J/w
F IR S T
m l
McNellis, president of the Saratoga
State Bank.
Speakers were LeVell Jones, First
National of Rawlins; Ed Kendig, State
Bank of Wheatland, and Bernie
Weber, Stock Growers National of
Cheyenne.
Group III voted to hold its fall
meeting in Laramie.
To Riverton Board
Roy Peck, co-publisher of the R iver
ton Ranger, has been elected to the
board of the First National of River
ton, succeeding Cecil S. Wood, former
Riverton cattleman and businessman
now living in Casper.
Joint talks in observance of the
100th anniversary of the signing of
the National Currency Act by Abra
ham Lincoln were made at a recent
meeting of the Laramie Rotary Club
by J. A. Guthrie, vice president, Bank
of Laramie, and Max E. Fisher, presi
dent, The First National of Laramie.
“ Businessman of the W e e k "
George J. Forbes, president of the
Bank of Laramie, was featured as
“Businessman of the Week” by the
Laramie Boomerang. A feature ar
ticle, supplemented by a large hand
some picture of Mr. Forbes, told of
his many civic and business activities,
paying tribute to the value of the
man to his community.
To Stock Growers Board
William Veta, prominent Cheyenne
businessman, has been elected a mem
ber of the board of the Stock Growers
National of Cheyenne, succeeding Wil
liam I). Clay of Chicago, who has re
signed.
Opens Drive-In
The First National of Casper opened
its new drive-in facility recently and
becomes the first bank in the state
J 'J xism d à u
jciL
BANK
AT THERMOPOLIS, W YOM ING
(^otwaniimt. ÿh&sdinqAu!
W e look forward to seeing all W y o m in g
bankers at this year’ s convention, June 13-15
VERN EASTMAN
Executive Vice-President
Northwestern Banker, June, 1963
Joins Basin Staff
Larry J. Gruell, formerly vice pres
ident of the bank at Aspen, Colo., has
been elected vice president of the
Security State Bank of Basin. Prior
to the Aspen position, he was with
the Greeley National at Greeley, Colo.
New Bank Activity
Laramie Bankers’ Talks
N A T IO N A L
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Federal Reserve Bank of St. Louis
with six drive-up banking windows.
Four new drive-up windows on the
site of the old Provident Federal Sav
ings & Loan supplement the bank’s
original two drive-up windows and
one-walk-up window, all of which are
under one roof.
Applications were filed recently for
two new banks, one at Glenrock and
one at Newcastle.
The proposed First National of
Glenrock has a proposed capital struc
ture—capital, surplus and undivided
profits—of $250,000. Its organizers are
Leonard E. Miller, Erick L. Olin, Wil
liam Wood, Howard W. Hunter and
W. B. Parks, all of Glenrock; Mayne
W. Miller, of Casper, and Keith A.
Bourn and Gerald E. Schmidt, both
of Cody.
A proposed capital structure of
$225,000 is listed for the proposed
First National of Newcastle. Organ
izers are Joe H. Watt, of Moorcroft,
Leo C. Nelson, James W. Kirkpatrick,
Wayne A. Grieves, Walter B. Oslund
and Thomas L. Whitley, all of New
castle, and George S. Mill of Hat
Creek.
Preliminary a p p r o v a l has been
granted for the First National of Gil
lette and the bank is undergoing a
90-day organization period. Its capital
structure is $200,000. Directors are
listed as Henry K. Hays, Leroy A.
Noecker, Teno Roncalio, Raymond D.
Saunders and Fred Wagensen.
An application for a new bank in
Cheyenne—the city’s fourth—has been
filed. The bank, tentatively known as
the First National of Cheyenne, would
be affiliated with the Cheyenne Na
tional. All organizers are directors
of the Cheyenne National. The appli
cation proposes a capitalization of
$250,000. Applicants are A. H. Trautwein, president, Cheyenne National,
Teno Roncalio, Sol W. Bernstein,
Klair Fowler, Robert W. Gravatt, Rob
ert S. McCraken, Dr. K. L. McShane,
Walter B. Phelan, C. D. Reisner and
Carlin Smith.
Returns to College
Gordon Outzen, cashier at the First
National of Riverton, has resigned
after 15 years’ service to the bank,
to return to the University of Wy-
W y o m in g
Y ellow ston e
than one-half million dollars
MORE
is being spent this year by Yel
lowstone Park Company to upgrade
accommodations for tourists visiting
Yellowstone National Park.
George Beall, executive vice presi
dent and general manager of the Park
Company, announced these improve
ments which involve hotels, lodges
and cabin accommodations within
Yellowstone at 11 different locations.
The central reservation office at
Mammoth has been re-designed to bet
ter facilitate handling of incoming
phone, teletype and mail requests for
park reservations. Telephone call di
rectors are being installed. The new
system will expedite guest reservation
requests.
oming to complete his requirements
for a law degree. The bank gave him
a typewriter and passed a resolution
commending him for his work at the
bank.
Second Branch in London
Continental Illinois National Bank
and Trust Company, Chicago, has an
nounced plans to open a second fullservice branch in London.
David M. Kennedy, Continental’s
chairman, said the bank has applied
to the Federal Reserve Board of Gov
ernors for permission to open a branch
in London’s “West End” as another
step in the bank’s international ex
pansion program.
Continental is the only inlandAmerican bank to operate an over
seas branch.
Continental also is now completing
arrangements for representative of
fices in Zurich, Switzerland, and
Tokyo, Japan. These new offices are
expected to open later this year.
Major expenditures are being made
at the historic Old Faithful Inn where
100 rooms will be newly furnished
for the 1963 season. A similar num
ber of rooms was refurnished last
year. One hundred new baths are be
ing added to the existing number mak
ing more than two-thirds of the rooms
with private baths. Two hundred
rooms are being completely repainted.
The lounge is being relocated and
carpeted. The Bear Pit—the Inn’s
coffee shop—is being air conditioned.
Old Faithful Lodge lounge overlook
ing the Geyser, is being remodeled.
Fishing Bridge cabins are receiving
new furniture in all units worth $62,000. Many of the cabins are complete
ly repainted. A new public bath fa
being con
Other ma
jor improvements make a total ex
penditure of $135,000 for Fishing
Bridge.
The Mammoth Springs Hotel lobby
is being remodeled and enlarged with
a completely new gift shop. All hotel
rooms are being repainted and 23 are
being refurnished. The coffee shop at
that location is being remodeled and
new counter service offered the tour
ists. Twenty-four thousand dollars is
being spent at this location.
Lake Lodge is being greatly im
proved by the addition of $6,000 worth
of new furniture. Many cabin exteri
ors are being repainted. One hundred
camper’s cabins at Canyon are being
completely repainted. Additional pub
lic rest rooms are being added.
nated as much as possible, he empha
sized.
“ Several banks have become aware
of the importance of the children. A
separate department for the young
sters will bring you a good 10 per
cent new children’s accounts and the
children must bring their parents
with them to do their banking.
“Many banks in small- and medium
sized communities have recognized
the value of a community room.
“And,” Mr. Bauder concluded, “keep
the public informed by use of public
relations techniques, of the progress
in the building program. Don’t stop
there. Show off your new quarters.
Not to just those who happen in—not
just to your customers—but to every
one within earshot. In this way, you
will achieve greater acceptance for
your new quarters. Greater accept
ance through telling people what you
have done for them.”—End.
9s
EACH
YEAR
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
it is our pleasure to welcome
an ever increasing number of
friends and customers at Con
vention time.
T H IS
YEAR
marks
our 81 st anniversary
of continuous service in the
financial development of W yo
ming.
STOCK GROWERS NATIONAL
The Personal Service Bank
POINTS TO CONSIDER . . .
(Contitnued from page 33)
care of peaks and valleys, plan exits
and entrances, parking lot control and
plan the flow of traffic in the parking
lot so that traffic jams will be elimi-
79
and laundromat is
P a r k im p rocility
vem
structed
at en
that ts
location.
Changes Banks in Chicago
Frank E. Bauder has joined the staff
at Central National Bank, Chicago,
and has been elected executive vice
president, it was announced by J. Ross
Humphreys, president.
Mr. Bauder moved to Central Na
tional from Continental Illinois Na
tional Bank and Trust Company where
he began his banking career in 1946.
Born in Elgin, Iowa, Mr. Bauder
graduated summa cum laude in 1941
from Coe College, Cedar Rapids, Iowa.
News
CHEYENNE
WYOM ING
Member of the Federal Deposit Insurance Corporation
Northwestern Banker, June, 1962
80
HANDING the gavel to the new president of the Colorado
Bankers Association is retiring president, Eugene H. Adams
(center), pres., First National Bank, Denver. Officers of the
CBA for 1963-64 are, from left: James C. Scarboro, reappointed
exec, secy.; president—Kenneth M. Hall, v.p., First National
Bank of Colorado Springs; 1st vice President— E. L. Bacon,
pres., United States Bank of Grand Junction, and 2nd vice
president—Paul L. Rice, pres., First National Bank, Loveland.
Ken H all Heads Colorado Hauliers
and state supervision,” he said.
“ State banks,” Mr. Breeze conclud
rado Springs, was elected to succeed ed, “perform an indispensable func
Eugene H. Adams, president, First tion in providing a laboratory for new
National Bank, Denver, as president ideas,” citing trust departments and
of the Colorado Bankers Association real estate loans as outstanding exam
at the annual meeting late last month. ples of important bank services which
were tested and proved useful at the
E.
L. Bacon, president, United States
state level.
Bank of Grand Junction, succeeds Mr.
Other convention speakers were Carl
Hall as first vice president. Mr. Bacon
E. Bahmeier, Jr., executive manager,
served as second vice president last
California Bankers Association; Prof.
year.
Joseph L. Frascona, director, Colorado
One highlight of the meeting was School of Banking; Jordan J. Crouch,
an address by Carl G. Breeze, presi vice president, First National Bank of
dent, Bank of Kremmling, Colo., and Nevada, Reno; J. H. MacDonald, presi
president of the state bank division of dent, Colorado Bank & Trust Compa
the American Bankers Association. ny, La Junta, and state chairman,
His topic was “Why the Dual Bank Foundation for Commercial Banks;
ing System?”
James L. Parris, deputy administrator,
Mr. Breeze stated that the 100-year- investment division, Small Business
old dual banking system is just as Administration, Washington; May or
valid and vital today as at any time Harry W. Hoth of Colorado Springs,
in the nation’s history.
and Rear Admiral William Mott, judge
The dual system, he said, provides advocate general, U. S. Navy, Wash
a program where states rights are re ington, D. C.
The convention was held at the
spected, potential abuse of regulatory
power is held in check, and dynamic, Broadmoor Hotel in Colorado Springs.
forward looking bank regulation is
fostered and many changes can be Central B&T Changes
tested out initially on a statewide ba
The Central Bank & Trust Com
sis.
pany, Denver, has announced these
“The justification for our dual bank changes;
George V. Janzen, correspondent
ing system rests in the freedom of
choice it offers banks in operating bank division, has been elected assist
under a national charter and federal ant vice president.
John Lawrence, trainee in the trust
supervision or under a state charter
M. HALL, vice presi
K ENNETH
dent, First National Bank, Colo
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
department, and Harlan Cyphers, with
the bank since July, 1961, have been
elected assistant trust officers.
Ron Jerman, loan and investment
department, and Tom Dinkel, mort
gage loan department, have been elect
ed assistant cashiers.
Harley N. Patton, vice president, has
been named manager of the install
ment loan department. With the bank
since 1946, he has been assistant cash
ier (1952), assistant vice president
(1955), becoming vice president in
1961.
Larger Loan Limit
Directors of the First National Bank
of Denver, with approval of the Comp
troller of the Currency, have decided
to carry the 28-story building on the
books at a value of $6 million, amount
originally invested in the building. As
a result, these steps have been taken
to give the First National the largest
loan limit of any unit bank in the
Rocky Mountain Area: (1) $6 million
will be credited to undivided profits
account, (2) of that, $4 million will
be transferred to surplus account,
bringing it to $16.5 million. The other
$2 million will remain temporarily in
undivided profits, and (3) the board
ordered a special meeting June 18, to
vote on a proposed stock dividend of
13% per cent, in the ratio of two
shares for each 15 now outstanding.
The dividend, if approved, would
C o lo ra d o
require issuance of 20,000 shares of
additional stock at par value of $50
each, capitalized at $1 million which
would be transferred from undivided
profits to the capital account of the
bank.
The bank’s lending capacity to a
single borrower would be increased
from $2 million to $2.5 million.
First of Denver Changes
Eugene H. Adams, president of the
First National of Denver, has an
nounced that A. A. Quincy, Jr., has
A. A. Q U IN C Y , JR.
Colorado Bankers Association, accord
ing to Clarence W. Tow, senior vice
president of the Reserve Bank.
Forums were presented in Durango,
Pueblo, Lamar, Denver, Grand Junc
tion, Greeley and Sterling.
Three senior economists from the
Fed spoke. In the afternoon sessions,
Wilbur T. Billington discussed busi
ness conditions and Ray J. Doll talked
on the agricultural situation. D. R.
Cawthorne explained recent financial
trends in a speech after dinner. All
three economists are vice presidents
of the Federal Reserve Bank.
Chairman of the afternoon and eve
News
81
ning sessions was Cecil Puckett, vice
president in charge of the Denver
Branch of the Federal Reserve Bank.
Eugene H. Adams, president of the
Colorado Banker s Association and
president of The First National Bank
of Denver, also appeared on the pro
gram in the evenings. Mr. Adams is
a director of the Fed’s Denver Branch.
Economic forums are presented each
year by the Kansas City Reserve Bank
in various states of the Tenth Federal
Reserve District. Forums were held
in Kansas and Wyoming last year and
a series was completed in Nebraska
and New Mexico earlier this year.
G. A. B R E E Z E
been promoted from assistant vice
president to vice president and Gary
A. Breeze, with the bank since Sep
tember, 1961, has been elected an as
sistant cashier and assigned to the
correspondent bank department.
Inaugurates New Service
The Denver U. S. National Bank has
announced the inauguration of a Mu
nicipal Bond Underwriting Service—
the first such full service offered by
a Denver Bank in
recent years.
Fred F. Barker,
for the past five
years Rocky
Mountain region
al manager of the
muni c i p a l bond
department of J.
A. Hogle & Com
pany in Denver,
joined the bank
F. F. B AR K ER
May 15 as vice
president in charge of the Municipal
Bond Underwriting Group.
John D. Hershner, senior vice pres
ident, in making the announcement of
the new service and the election of
Mr. Barker as vice president, said:
“This is an entirely new activity for
the Denver U. S. and we are confident
it will fill a need in the area and en
able us to serve our Denver customers
and correspondent banks in a useful
way.
Fed Reserve Forums
Colorado bankers attended a series
of economic forums last month spon
sored by the Federal Reserve Bank
of Kansas City in cooperation with the
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Federal Reserve Bank of St. Louis
As D Y N A M I C as the great state o f Colorado itself—where
every day brings something new, exciting and significant.
As S U B S T A N T IA L as the majestic Rockies—an integral part
o f the scene, to be depended upon.
As C O N T E M P O R A R Y as tomorrow—with a philosophy
based upon Service, which is the foundation o f our endeavor.
THAT’S US. COLORADO NATIONAL BANK JtS_ COLORADO.
YOUR COLORADO BUSINESS DESERVES OUR SERVICE
COLORADO
NATIONAL
B
A
N
K
SEVENTEENTH STREET A T C H A M P A
OF DENVER
PHONE 222-9311
Northwestern Banker, June, 1963
E x p a n d e d C u sto m e r S e r v ic e s • R e d u c e d C o st a n d E q u ip m e n t
F a ste r B o o k k eep in g O perations • D etailed M a n a g e m e n t R ep o rts
Right now, our G.E. 225 Computer is being put to work for U.S.
processing checking and savings accounts. But it is also ready to
go to work for you. Call U.S. if you would like to know how it can
lighten your bank’s work load and help im prove your custom er
service. Or, better than that, stop by the next time you’re in Omaha.
W e’d like to show you our newly constructed data processing center
. . . and the complete range of improved services that it offers you.
M e m b e r F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
83
OFFICERS and executive committee of the NBA met during
the convention with Dr. Charis E. Walker, (seated right), execv.p. of the American Bankers Association, New York. NBA
officers pictured with him are, from left: Seated—N. T. Tieman, pres., Commercial State, Wausa, NBA v.p., and Lyman
M. Stuckey, pres., Lexington State and NBA pres. Standing—
W. H. Osterberg, asst. sec. of NBA; Ernest T. Tanner, v.p., 1st
Natl., Omaha, and NBA treasurer, and H. V. Osterberg, sec.
of NBA, Omaha.
At 66th
A n n u a l C o n ven tion
N eb ra sk a H an kers H ea r W a rn in g s on
L iv esto c k N u m bers a n il H raneh H anking
By MALCOLM FREELAND and REN HALLER, JR.
Publisher
Flditor
e g is l a t iv e
matters at both the
state and federal level were in
L
the forefront at the 66th annual con
vention of the Nebraska Bankers Asy sociation in Omaha last month. The
first spring convention drew 986 bank
ers and wives. It was voted at the
65th convention last fall to switch the
annual meeting to a spring date and
move the group meetings to fall dates.
The latter are presently scheduled for
November of this year.
Association officers were gratified
> by the excellent turnout for this first
spring convention, since it followed
the previous annual meeting by only
six months.
There was plenty of ammunition
for lively discussion in the program
for the first day as speakers talked
y about excess cattle numbers, hank ex
pansion plans in Nebraska, the need
for a federal tax cut, and the Saxon
hearing in Washington.
his son, W. H. Osterberg, was reap
pointed assistant secretary.
Same Officers Continue
Dr. Herrell De Graff, executive vice
president of the American Meat Insti
tute, Chicago, noted that “we have
just been through a rough six months
in the cattle industry with a drop of
25 per cent in the cattle feeding busi
ness, from 30 cents to 23 cents, and a
25 per cent drop in revenue in any
firm is hard to take. Add to the in
creased supply of fed beef the poultry
increase and some pork increase and
you can see why prices dropped last
fall.
“ The cattle business is not out of
the woods yet, although the tumult
has died down. The April 1 USD A
report says there were 800,000 more
Keeping the program moving at a
brisk pace throughout the two-day
session was Lyman M. Stuckey, presi
dent of the Lexington State Bank,
who was elected president of the Ne
braska Bankers Association last fall
and continues in that office until the
1964 convention. Continuing as vice
president is N. T. Tiemann, president
of the Commercial State Bank, Wausa.
E. T. Tanner, vice president of the
First National Bank, Omaha, was
elected treasurer last fall for a threeyear term.
Reappointed secretary by the exec
utive council is H. V. Osterberg, and
LEFT—N. T. Tiemann, A.B.A. v.p. for Nebraska and pres, of
Commercial State, Wausa, congratulates newly elected A.B.A.
representatives in Nebraska—Win. W. Marshall, Jr., exec, v.p.,
Commercial Natl., Grand Island, and Harold E. Roe, pres., Bank
of Bennington, both on exec, council, and B. D. Berkheimer,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Rough Cattle Market
pres., 1st Natl., Gordon, member of nominating committee.
BIGHT— Fred H. Douglas, a.v.p., Omaha Natl.; James B. Rossiter, exec. v.p. & cash., 1st Natl., Walthill; F. N. Cronin, pres.,
O’Neill Natl., and Robert E. Larsen, a.v.p., Omaha Natl., in
the Omaha National’s hospitality room.
Northwestern
Banker,
June,
1963
84
N ebraska
News
LEFT— Burnham Yates, pres., 1st Natl. B&T, Lincoln; Mrs.
Burkley; Robert E. Burkley, v.p., 1st Natl., Fairbury; Henry
D. Kosman, pres., Scottsbluff Natl., and Clayton Strothers, 1st
cattle on feed as of that date than in
1962, in all weights, but concentrated
in heavy weights. The April to June
slaughter will be 7-8 per cent above
a year ago, but still leaves for July to
September a half million extra cattle
on feed. This will leave a consider
able period yet to work off the sur
plus one million cattle of last year.
“Don’t let your feeders carry on ani
mals any further trying to hold them
for more gain, for this costs more and
they won’t sell any better, if as well.
An increase from 800 to 900 pounds
costs $15. If an animal is 1,100 pounds
and goes to 1,200, it costs $38 for the
100 pounds of gain.
Cites Overstocking, Drouth
“We have an all-time high cattle
population of 103.8 million head. I
know of no area not sufficiently
stocked, and some perhaps are over
stocked. There is no area to move
cattle into presently if drouth hits one
section. We don’t know our weather
conditions yet but the March outlook
was not good for the southwest, south
east and east coast. We don’t know
when or the sequence of drouths, but
being overdue for a widespread drouth
and with abundant stocking, bankers
should guard their customers against
overstocking and have adequate feed
reserves.
“Orderly marketing is the key need
ed to maintain the present 91 pounds
of beef consumption per person. . . .
I’m concerned about the buildup in
cattle numbers. I don’t know if trou
ble is here for 1963 or later, but a
price break is sure to come similar to
1953-54 and that took us three and a
half to four years to recover.”
President’s Report
President Lyman Stuckey said the
state-wide study committee appointed
in the fall of 1962 had taken several
projects under study. It proposed an
improvement in public relations with
colleges and the press and means have
been undertaken to implement this
step. The committee also recommend
ed opposition to holding companies.
Subsequently, it presented a bill to
the Nebraska legislature banning such
holding c o mp a n i e s and this was
passed and signed into law in March
by the Governor of Nebraska.
Mr. Stuckey commented on the con
tinuing work being done by officers
of the NBA as well as Secretary Oster-
LEFT—Mrs. McBride; Mrs. Van Horne; John Van Horne, pres.,
Van Horne Investments, Omaha, and E. J. McBride, v.p., Com
mercial Bank, Blue Hill. CENTER—Howard Bell, exec, dir.,
Ind. Bankers Assn., Sauk Centre, Minn., and Ernie Tanner,
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Natl. B&T, Lincoln. BIGHT—Carl Bloom, a.v.p., 1st Natl.,
Omaha; Harvey Hayes, v.p., Omaha Printing Co.; Jim Cook,
ag rep, 1st of Omaha; Gordon Jones, pres., Bank of Brady.
berg and his capable staff. He said
the reception given to the revised for
mat for the Bank Management Con
ference at Crete this June has been
very favorable. Agricultural meetings
will be held in the state from August
6 to 9. Group meetitngs are slated
for November and these apparently v
are being programmed as work ses
sions.
In commenting on progress made by
Nebraska banks, Mr. Stuckey said de
posits have grown from $1,526,940,969
on December 31, 1952, to $1,942,273,995
on December 31, 1962, a 10-year gain 1
of $415,333,026. The deposit growth
in just the one year from 1961 to 1962
was $157,491,647, he revealed. This
deposit growth, Mr. Stuckey related,
has made it possible for Nebraska
banks to meet the credit needs of busi
ness, agriculture and individuals so
that full service banking is available
to Nebraskans throughout the state.
Banking Director’s Report
Ralph Misko, Nebraska director of
banking, said there are presently six
charter applications on file for new
state banks plus a request to move
the bank in Ulysses to David City. Mr. ^
Misko stated:
v.p., 1st Natl., Omaha. BIGHT—Herb H. Echtermeyer, v.p.,
Omaha Natl.; James I. Black, exec., v.p., Genoa Natl., and
Raymond H. Steffensmeier, a.e., 1st Natl., Beemer.
85
b
THIS IS A PRIVATE OFFICE FOR OUR CORRESPONDENT BANKERS
This office is available at First National Bank of Omaha for visiting
correspondent bankers. There is a private phone, secretarial service,
rooms for meetings and conferences. Our correspondent bank people
are always available for consultation. This is just one of the many
services the First offers correspondent banks. The First National
Bank of Omaha would like to make their services available to you.
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Federal Reserve Bank of St. Louis
1 0 0 th
fir
anniversary
egg —
% Ê|
T S
OMAHA, NEBRASKA
Northwestern
Banker,
June,
1963
86
N ebraska
News
LEFT— Harold Browning, v.p., U. S. Natl., Omaha; Austin
ery, retired v.p. of U. S. Natl., and R. R. Aden, v.p. &
Gothenburg State. CENTER—Lyman M. Stuckey, NBA
and pres, of Lexington State, receiving Treasury award
“ In my two and one-half years as
director of banking I have had close,
cordial and friendly c o o p e r a t i o n
among authorities in the Federal Re
serve, the Comptroller’s office, the
FDIC and the several states, with
good communication among all four
agencies. The picture is now changed
somewhat. We have a new Comptrol
ler in Mr. James Saxon. He is an ex
tremely smart, ambitious man and
brings in a new philosophy that the
banking industry knows little about.
He looks at things a little differently
than his predecessors. Certain opin
ions and interpretations make us won
der. He is accused of trying to do
away with the dual banking system
but I don’t really think so. When
critics attack him, he digs out an old
law and says, ‘Here it is.’
“We keep Mr. Saxon informed as
quickly as anyone else on new charter
applications and he has done the same
with us, on Bellevue, for instance. We
hope this will continue. Out of all
this we have a situation that has car
ried down into the membership of the
A.B.A., where a new national bank
group is trying to organize. How deep
is this wound? I don’t know, but in
Vick
cash.,
Pres,
from
our own state we have deep differ
ences of opinion.
Some Good Has Resulted
“Out of this frustrating period, Mr.
Saxon has done some good. He has
awakened bankers and made them
look at themselves objectively. Are
we still trying to run 1963 under laws
passed in 1923? Many states are doing
recodification of their banking laws.
Nebraska has two bills out of commit
tee on this subject.
“ Bankers should not only look at
what they’re doing but at what com
petitive financial institutions are al
lowed to do. We are not advocating
anything radical but think we should
see if some expansion of bank services
can be made that will be beneficial to
bankers, the public and to meet com
petition. There are three other ave
nues besides holding companies:
“ 1. Extension of the detached teller
facility to 7,000 feet. (Ed.: It is pres
ently 2,600 feet.)
“2. Limited branching.
“3. New bank charters.
“Two months ago one of our exam
iners reported that he thought a bank
was running a branch, and I thought
LEFT—John R. Lauritzen, chmn. of exec, comm., 1st Natl.,
Omaha, and Cooper H. Butt, pres., Elm Creek State Bank.
CENTER—J. Randel Smith, cash., Randolph State, Randolph,
la.; Dick Hahn, Jr., a.c., Carson Natl., Auburn, and Dean Vogel,
Northwestern
Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
John B. Kimberley, reg. dir., II. S. Savings Bonds, Des Moines.
RIGHT—Leo V. Krieger, pres., Sidney Natl.; Kermit Wagner,
dir., and Herman J. Wragge, pres., both with 1st Natl., Tekamah, and Dale Neumeyer, rep., Stock Yards Natl., Omaha.
so, too. This involved spreading notes
around town to get loans on sales.
The State Attorney General said this
was not branching since there was no
agency. What if deposit books, de
posit slips, signature cards, etc., are
handed out like this? Apparently it
would be O.K .so long as there is no
agency there.
Let’s Look at Our Laws
“We may wake up some day and ,
find the Comptroller playing around
with our facility law. I think there
is a lot going on that plays around
the edges of branch banking. I think
we should look at our facility law and
either go for controlled, limited branch
banking or pass laws specifically re
stricting this.
“ Many people say Mr. Saxon will be
removed. Even if this is so, they also
say we will get the same kind of man,
only more tactful. We must not re
main static but get our heads out of
the sand and take a hard look at
where Nebraska banking should go.
“Don’t get me wrong. I’ve been a a
banker all my life and am opposed to
statewide branching. But we have a
problem. We not only have to fight
exec, v.p., United States Natl., Omaha. RIGHT—V. E. Rosäiter, Sr., pres., Bank of Hartington, and Clifford L. Adams,
pres., Live Stock Natl., Sioux City. A number of western Iowa
bankers visit with Nebraska banker friends when the conven
tion is in Omaha.
87
Larry Bazata
Dale Fagot
Winton Buckley
Tom Waldo
Merle Hartley
Al Jorgensen
Rex Miller
YOUR CAPITAL CITY CORRESPONDENT
You won’t find us in Lincoln often as we’ re on territory calling, but . . . we still
have people in our Correspondent Bank Department to assist you if you call by phone,
or come to Lincoln, on any banking service. We are always ready to help you.
NATIONAL BANK OF COMMERCE
TRUST AND SAVINGS
LIN CO LN , N E B R A S K A
M E M B E R : F . D. I. C.
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Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
88
N ebraska
News
N eb ra sk a 's 5 0 - Y ea r
50-YEAR BANKERS were recognized at the convention with framed citations for their
years of service. Of the 35 bankers listed, the above 20 were present. From left to
right in each row (with the year they started in banking) are:
First row—Edwin J. Loutzenheiser (1902), exec, v.p., Gothenburg State; F. J. Cleary
(1903), sr. v.p., 1st Natl., Grand Island; J. J. DeLay (1905), chmn., Delay First Natl.,
Norfolk, and C. H. Ryan (1908), v.p., 1st Natl., Loup City.
Second row— C. W. Fahnestock (1910), pres., Security Natl., Laurel; Henry C. Karpf
(1907), member of adv. bd. and retired vice chmn. of Omaha Natl, and also pres, of 1st
Natl., Morrill; Adolph J. Thuman (1908), pres., State Bank of Trenton, and W. Horton
Munger (1909), pres., 1st Natl., North Platte.
Third row— A. A. Mousel (1906), pres., 1st Natl., Cambridge; P. H. Langenberg
(1912), pres., 1st Natl., Walthill; O. M. Jeffrey (1910), chmn, 1st Natl., Wayne; Emil
E. Placek (1907), chmn, 1st Natl., Wahoo, and E. N. Van Horne (1907), chmn, Van
Horne Investments, Inc., Omaha.
Fourth row—W. F. Wenke (1908), pres., Pender State; Elmer Hallstrom (1912), pres.,
Farmers State, Avoca; R. K. Hancock (1910), chmn, Burt County State, Tekamah, and
H. L. Niemann (1912), pres., Farmers Bank, Cook.
Fifth row—Herman J. Wragge (1907), pres., 1st Natl., Tekamah; Earl H. Wilkens
(1907), pres., Geneva State, and Albert A. Held (1912), vice chmn, Natl. Bank of
Commerce T&S, Lincoln.
The other 15 men who were not present for the picture are (with the year they
started in banking, where known): Fred H. Bruning (1912), pres., Bruning State; J. E.
Conklin (1908), pres., Hubbell Bank; Byron Dunn (1907), chmn, Natl. Bank of Com
merce T&S, Lincoln; R. F. Emmett (1911), pres., Citizens State, Arapahoe; C. S. Eng
land (1913), pres., Farmers & Merchants, Axtell; W. T. Knievel (1913), pres., Farmers
& Merchants Natl., West Point; R. E. Knight (1909), chmn, Alliance Natl., Otto Kotouc,
Sr. (1909), chmn, Home State, Humboldt; Herman Lundberg (1903), chmn, State Na
tional Bank, Wayne; H. D. Miller (1908), pres. & cash., Citizens State, Clearwater;
George F. Moss (1912), chmn, McCook Natl.; Clyde C. Neumann (1901), chmn, Farmers
& Merchants Natl., Oakland; A. F. Pivcnka, pres., Bank of Swanton; Fred W. Thomas
(1908) , vice chmn. exec, comm., 1st Natl., Omaha, and H. L. Williams (1913), pres.,
Gothenburg State.
other industries but must fight Wash
ington, D. C. I suggest only that you
look at our present laws and at pos
sible legislation carefully, and at the
other avenues 1 have suggested as
possible solutions.”
Dr.
Predicts Tax Cut
Charls E. Walker, executive
vice president of the American Bank
ers Association, New York, told Ne
braskans: “ It is probable that Con
gress will reduce personal and corpo
rate income tax rates significantly
this year. We in The American Bank
ers Association urge that, at the same
time, Congress cut next year’s Federal
spending back to this year’s level.
And we also hope that serious consid
erations will be given to reducing the
corporate tax rate, over the next four
years, to at least 42 per cent—a step
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
that experience suggests will pay for
itself many times over in more jobs,
more income, more government reve
nues, and a faster rate of economic
growth.”
Dr. Walker described at some length
several of the functions of A.B.A.
within the framework of its member
ship. He said, “W e can’t always have
full agreement of all 13,254 A.B.A.
members. Even if a 51-49 vote re
sults, we should go ahead and do as
the majority votes.”
Three points be mentioned on which
there is a difference of opinion were:
1. Federal tax cut. 2. Federal increase
in FDIC coverage from $10,000 to $25,000. 3. Credit Union legislation. Dr.
Walker said that after months of con
ferences among the A.B.A. committee
members responsible in this area,
A.B.A. recommended to Congress that
the President’s tax cut be voted this
year, provided Federal spending is
held to its present level. Many mem
bers oppose this, feeling that a reduc
tion in Federal spending should ac
company a tax cut to make it truly
effective.
On the FDIC coverage, A.B.A. op
posed this increase before Congress
saying there is no given reason for
it and no demand has been evidenced
for it. Dr. Walker said going to $25,000 would extend such coverage only
about 1 per cent. He said this would
cause an even greater flow of funds
to the west coast.
On the third point, Federal legisla
tion to control Credit Unions, Dr.
Walker said the lack of action on this
count by A.B.A. is purely a matter of
timing as to when to move “and your
legislative committee judged it would
be highly unfavorable to move at this
time. Not that it won’t act later,” he
added.
Confers With NBA Officials
The Nebraska Bankers Association
officially differed sharply with A.B.A.
on two of the points above, feeling
that a spending cut should accompany
a tax cut, as well as feeling strongly
that action should be taken now on
Credit Unions.
Dr. Walker arrived early at the con
vention in order to meet with the
N.B.A. executive committee where
these matters were discussed and to
get Nebraska sentiment on these
stands, as well as to explain the A.B.A.
stand. Secretary Osterberg and other
association officials noted from the
platform that while Nebraska chooses
to differ on these two points, it still
believes majority rule should prevail
in the A.B.A. for unity of bankers
and that the A.B.A. and its adminis
trative and elective officers have the
wholehearted support of the Nebraska
Bankers Association.
Much Legislative Work
J. R. Kenner, president of the
Thayer County Bank at Hebron and
chairman of the N.B.A. legislative
committee, gave a fine report on the
work of this committee. This group
probably had more work to do this
year than in any previous year. It
saw its bill banning bank holding com
panies in Nebraska passed by a sub
stantial margin, and took part in nu
merous other legislative discussions
on other bills. Recodification of state
bank laws is underway, and the Uni
form Commercial Code bill is a mas
sive but important undertaking in the
legislature at this time.
Tom Milliken, vice president of the
89
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It’s an integral part
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on our more than 75 years of experience.
STOCK YAR
THE O N L Y B A N K
ONAL BANK
N STOCK YARDS
A
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION
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Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
90
N ebraska
News
LEFT— Don Murphy, newly elected sr. v.p., Stock Yards Natl.,
Omaha; Wm. W. Marshall, Jr., exec, v.p., Commercial Natl.,
Grand Island; H. L. Niemann, pres., Farmers Bank, Cook, and
Cecil W. Means, v.p., Stock Yards Natl., Omaha. RIGHT—
Seated: Fred H. Bruning, pres., Bruning State; Roy Dinsdale,
Fremont National Bank and chairman
of the resolutions committee, present
ed a resolution that read, “ Since Ne
braska bankers are serving the state
adequately, be it resolved that we fa
vor our present banking laws and that
we favor expansion of banking busi
ness by bank charter only, when pub
lic necessity is met and men of in
tegrity apply.”
The motion was
adopted unanimously.
Howard Bell, executive director of
the Independent Bankers Association,
Sauk Centre, Minn., was present at
the convention and spoke for several
minutes on the hearing into Comp
troller James Saxon’s office that took
place last month before Congressman
Wright Patman’s House Banking and
Currency Committee. He related the
list of persons and groups protesting
the actions pursued by Mr. Saxon, and
those who appeared as defendants for
him.
State A.B.A. Election
N.B.A. Vice President Tiemann, also
appearing in his role as Nebraska
state vice president for the A.BA., said
Nebraska bankers have two areas of
disagreement with the A.B.A. as noted
above. “ These are honest disagree
ments,” he said, “but we are in com
plete support of the A.B.A. otherwise.
“ 1. On the tax cut, N.B.A. feels defi
nitely there should be a spending cut
and not leave spending just as it was
before, as A.B.A. proposes.
“2. Credit Union legislation in Ne
braska would not help if state credit
unions could convert to federal credit
unions and not have restrictive legis
lation. We think anytime is the right
time to pass restrictive legislation on
unfair operations, and open member
ship of credit unions is unfair.”
Mr. Tiemann reiterated that despite
these differences, N.B.A. members still
subscribe to the majority rule in
A.B.A. and wholeheartedly support
the national organization.
Nebraska A.B.A. members elected
the following men: For three year
terms on the A.B.A. executive council,
LEFT—George V. Keller, exec, v.p., Lexington State; Mrs.
Keller; Susan Stuckey and Dick Stuckey, both students at the
University of Nebraska and the son and daughter of NBA
Pres, and Mrs. Lyman M. Stuckey. RIGHT—Gene Youell,
Northwestern Banker, June, 7963
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Federal Reserve Bank of St. Louis
pres., Natl. Bank of Neligh; A. J. Jorgenson, chm., American
Natl, of Sidney, and Ray Dieball, a.c., 1st Natl., Chicago. Stand
ing- Dave Patrick, a.c., and Lyle F. Stoneman, v.p., both with
1st Natl. B&T, Lincoln. Mr. Bruning became a charter member
of the NBA 50-year Club at this convention.
effective at once—Wm. W. Marshall,
Jr., executive vice president, Commer
cial National Bank at Grand Island,
and Harold E. Roe, president, Bank of
Bennington. To the A.B.A. nominat
ing committee for the 1964 convention
—B. D. Berkheimer, president, First
National Bank of Gordon, and alter
nate, Minor P. Baird, president, Farm
ers State Bank of Superior.
Need Caution for Investments
Tilford C. Gaines, vice president of
the First National Bank of Chicago,
discussed, “ Managing a Bank’s Invest
ment Portfolio.” He noted three im
portant facts that should influence
bankers facing this management task.
1. The economy is doing quite well
despite an u n s a t i s f a c t o r y growth
trend, and a tax cut should improve
the economy. 2. Our balance of inter
national payments is not improving.
3. Commercial banks are fundamenNEBRASKA CONVENTION . . .
(Turn to page 95, please)
pres., State Bank of Terril, la.; Tom Horn, v.p., Security Natl.,
Sioux City, la.; Eldon R. Spray, pres., Crawford State, and
Hal F. Childs, v.p., Municipal Sales, Chiles & Company, Omaha.
91
HOW TO TAKE YOUR BANK
T H R O M ^ X P O R ^ C T IY IT Y
Do you deal with firms now involved in export activity?
Are there manufacturers in your area whose products could
be distributed abroad? Are they “ just not interested” in
developing foreign distribution? Or is it that they “ just
don't know” enough about foreign markets? Often, the
availability of information on the business and economic
situations in foreign countries stimulates manufacturers to
seek outlets for their products abroad.
Increasing interest in export activity is found today
even among small manufacturers. You can help develop this
interest, and at the same time develop your bank’s position
with such firms. You can make available daily, even hourly,
information on business and economic situations abroad—
through the correspondent services of the International
Department of City National Bank and Trust Company of
Kansas City.
City National’s International Department is the largest
of its kind in the Midwest. The scope and depth of its
services are unequalled even by large banks in the East.
Such services— which you can pass on to your bank cus
tomers— include offering the latest information on regula
tions governing remittances from and to foreign countries,
credit information on prospects, customers or suppliers in
any part of the world, suggesting the names of individuals
to contact to set up business relationships in distant coun
tries, foreign collections in dollars or in foreign currencies,
advice on whether to engage in direct foreign investments
by establishing new plants or by purchasing a company
abroad— even the answers to such questions as “ What's
the nice hotel in Paris?”
This, plus personal-professional acquaintance with sev
eral thousand businessmen and bankers abroad, establishes
the International Department of City National Bank and
Trust Company as the authoritative source for information
on countries the world over.
As a City National correspondent bank, you can make
full use of these services in interesting your local industries
in foreign outlets. Of course, this is a good way to help
build present customers' business, and it is also an ideal
way to attract new business to your bank.
Talk with the men of the International Department of
City National Bank. They will be happy to tell you how the
services of their department are made available through
the regular correspondent program.
“ Take your bank customers and multiply them through
export activity!” — through the services of the International
Department of City National.
City National Bank & Trust Company
10th & G rand, BAltim ore 1-6800
Kansas City, Missouri
Member Federal Deposit Insurance Corporation
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
92
the First National Bank of Omaha and
director of the North Side Bank, Oma
ha, and the Johnson County Bank at
Tecumseh, was elected a national di
rector of the Air Force Association of
America.
* * *
Joseph F. Ringland, Jr., was elected
president of the South Omaha Bank
last month. He succeeds the late C.
B. Newman who died March 14. Di
rectors also advanced Ray F. Slizewski from vice president to senior vice
president. Mr. Ringland and Mr.
Slizewski also were elected to the
board of directors.
J. MURPHY, Minneapo
DONALD
lis, has been named a senior vice
president and director of the Stock
Yards National Bank, according to an
announcement by
A. J. Hallas, pres
i dent of St oc k
Yards National.
For the p a s t
f o ur years, Mr.
Murphy, 45, has
been vice presi
dent of the North
west Bancorporation in Minneapo
lis. He joined the
Banc o r p o r a t i o n
as assistant vice president in 1956.
“The addition of Mr. Murphy to our
staff will strengthen our service to
Stock Yards National customers,” said
Mr. Hallas. “He is thoroughly versed
in all phases of banking, including
livestock financing. He understands
especially the problems incident to
livestock farming and feeding.”
Mr. Murphy spent 16 years in the
banking business in Osseo, Minn., be
fore joining Northwest Bancorporation and was president of the Farmers
State Bank in Osseo from 1952 to 1956.
Born in St. Paul, Minn., he was
raised on a farm in Wisconsin and
was active in 4-H and FFA club proj
ects. He is a graduate of St. John’s
University (Minn.) and River Falls
(Wis.) State College with a B.A. de
gree in economics. He also is a gradu
ate of the American Management As
sociation Court and of four specialized
industrial management schools.
j{c
sfc
Robert Satrapa, advertising man
ager of the United States National
Bank, Omaha, has been named a di
rector of the Omaha Advertising Club.
♦ H
< *
Carl A. Falk, vice president of Kirkpatrick-Pettis Company, has been re
nominated for a three-year term as a
governor of the Midwest Stock Ex
change in Chicago.
H
= H
= H
=
Don R. Ostrand, vice president of
Municipal andCorporate Bonds
ListedStocks
UnlistedandLoccdStocks
ORDERS EXECUTED ON ALL PRINCIPAL EXCHANGES
CHILES & COMPANY
OMAHA, NEBRASKA
412 Farm Credit Building
LINCOLN, NEBRASKA
1321 P Street
Phone 346-6677
P h one 432-3324
LEXINGTON, NEBRASKA
Ernst & Bieck Building
CHADRON, NEBRASKA
999 East 6th Street
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J. F. R IN G L A N D , JR.
<
R. F. S L IZ E W S K I
Mr. Ringland moved to Omaha May
15 to take up his new duties. Since
1960 he had been assistant vice presi
dent of the Northwestern National
Bank of St. Paul, Minn. Prior to this *
he was assistant cashier at the First
National Bank of Aberdeen, S. D., for
one year, and from 1957 to 1959 had
been advertising manager for the
Northwest Bancorporation.
Mr. Ringland was born in Omaha
where his father, Joseph F. Ringland, Sr., was an officer of The United {
States National Bank. His father later
moved to Minneapolis and was presi
dent of the Northwestern National
Bank there for a number of years
prior to his death several years ago.
Mr. Ringland is a graduate of Prince
ton University and the Central States 4
School of Banking at the University
of Wisconsin.
Mr. Slizewski formerly was with
the South Omaha Savings Bank and
the Stock Yards National Bank of
Omaha. He is extremely active in
South Omaha civic undertakings.
H
= * *
A coin and currency collection
valued in excess of $100,000 was on
display in the lobby of the First Na
tional Bank of Omaha during the re
cent Nebraska Bankers’ Convention.
The collection, courtesy of the Omaha
Coin Club, included coins and frac
tional currency dating back to Civil
War days with emphasis on a com
plete series of gold coins.
Also included in the bank’s centen
nial display were pictures of all the
presidents of the First National Bank
who have served since the founding
93
Carloads of Western“ Gold”
T hey’re rolling now.
Carload after carload... from the nation’ s vast wheat
fields to the grain marketing centers o f America.
And as the golden grain reaches its destination in
this terminal market, Collection Department men from the
Omaha National Bank immediately present drafts to the
grain dealers and collect for them.
This prompt and frequent presentation service means
quick conversion o f these negotiable instruments into your
immediate credit.
The
Omaha National Bank
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION
Northw estern
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Federal Reserve Bank of St. Louis
Banker,
June,
1963
94
N ebraska
News
AS PART of its year-long observance of its centennial year, First National Bank of
Omaha displayed currency collections, old Omaha pictures and other items of historic
interest to Omahans in the above display in the west lobby. Another special money
display is exhibited in the office of John F. Davis, president.
year of 1863 as well as pictures of
the buildings which formerly housed
the bank.
Some old-time machines also were
displayed, courtesy of the Burroughs
Corporation.
* * *
The Stock Yards National Bank and
the Central National Insurance Group
were among six Omaha business firms
honored for their contributions to
ward beautifying Omaha. The awards
were presented at a dinner in Omaha
last month by the Women’s Division
of the Omaha Chamber of Commerce.
The Stock Yards National award
was given to A. J. Hallas, president,
in recognition of the bank’s new drivein banking facility at 24th and L
SPECIALISTS
A N D
B A N K
O R D E R S
ON
ALL
Streets in South Omaha that was
opened in April.
The Central Nat i onal Insurance
Group award was based on the beauty
of construction in the firm’s new
home office building in west Omaha
and the beauty of grounds and main
tenance.
* * *
John M. Shonsey, executive vice
president of The Omaha National
Bank, is chairman of the Boys’ Clubs
of Omaha fund drive which com
mences June 24. Goal of the fund
drive is $200,000. Mr. Shonsey said
$90,000 would be used for next year’s
operating funds, $65,000 for an athlet
ic-improvement fund, and $45,000 for
building equipment.
IN
UTILITY
S T O C K S .
E X E C U T E D
EXCHANGES.
The board of governors of the Oma
ha Chapter, American Institute of
Banking, met last month and elected
the following board members as offi
cers for the coming year:
President — Robert D. Satrapa, as
sistant cashier, United States National
Bank.
Vice President— William S. Graves,
assistant cashier, Stock Yards Nation
al Bank.
Treasurer — Eugene G. Kidder, as
sistant cashier, The Omaha National
Bank.
Board members are: Marvin Jablorski, First National; Bernice A. John
ston, assistant cashier, The Center
Bank; Louis Narke, Packers National;
Glenn A. Reid, assistant cashier, U. S.
National, and Dan Spencer, Federal
Reserve.
R. D. S A T R A P A
W . S. G R AVES
Special appointees to the board are:
Pete Marr, advertising manager, The
Omaha National; Don Miller, Federal
Reserve Bank; Robert W. Tritsch, as
sistant cashier, First National, and
Mrs. Judy Wallace, First National.
Mr. Satrapa succeeds Mr. Tritsch as
president of the Omaha Chapter.
* * *
Gwyer Yates, 77, former president
of The United States National Bank
of Omaha, died last month in Santa
Barbara, Calif., after a lingering ill
ness. Burial was in Santa Barbara.
Mr. Yates began working in 1900
for the Nebraska National Bank at
the age of 14, joined the U. S. National
in 1905, and in 1930 was named presi
dent. He moved from president to
chairman of the board in 1937 and
moved to California in 1938. He con
tinued on the board of directors un
til 1939.
He is survived by Mrs. Yates.— End,
Opens Grand Island Office
SM ITH, POLIAN & CO .
4 2 4 Omaha National Bank Bldg.
Established 1925
Telephone 342 -5 0 65
Northwestern Banker, June, 1963
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Federal Reserve Bank of St. Louis
First Nebraska Securities, Inc., of
Lincoln announces the opening of a
Grand Island branch office with tem
porary location at 610-611 in the Yan
cey Hotel, pending removal to perma
nent offices at a date to be announced
later.
A member firm of the New York
Stock Exchange and associate mem
ber of the American Stock Exchange,
N ebraska
First Nebraska Securities also offers
the investment service of listed and
unlisted stocks, municipals and cor
porate bonds, and mutual funds.
Registered representatives in the
new Grand Island branch offices are
Carl Brasee and W. J. “Bill” McDon
nell.
First Nebraska Securities also an
nounces the appointment of Harlan
Beideck as a registered representa
tive in the Hastings branch office.
NABW Group Elects
The Nebraska Group of the Na
tional Association of Bank Women
met in Omaha recently, at which time
the following were elected to office:
Chairman—Miss Minnie Asche, vice
president, First National Bank and
Trust Company, Columbus. Co-chair
man—Mrs. Frances McCarty, assistant
cashier, First National Bank, McCook.
Secretary—Mrs. Amy Reiss, cashier,
Bruning State Bank, Bruning. Treas
urer—Mrs. Lela Heisey, president, Cit
izens State Bank, Carleton.
Joins Beatrice Bank
The appointment of John B. Dando
as vice president of the First National
Bank and Trust Company of Beatrice
was announced recently by Harold R.
Dei t emeyer , president. Mr. Dando
is a former na
tional bank exam
iner h a v i n g
worked out of the
Des Moines office.
Through his work
he has developed
a wide acquaint
ance among bank
ers in this terri
tory.
Mr. Deitemeyer
also no t e d last
month that the bank name has now
officially been changed to First Na
tional Bank and Trust Company, re
flecting the addition of complete trust
powers to the bank’s services.
Begin Trenton Building
Work was started early last month
on a new building for the State Bank
of Trenton. The general contract was
awarded to Moffit-Harrison Construc
tion Company of McCook. A. Thuman,
president of the bank, said the con
tract calls for completion in 150 days.
The building will be brick, 48 by 50
feet in size, air conditioned and com
pletely modern inside.
Sells Swanton Stock
A. F. Pivonka, president of the
Bank of Swanton, has sold his inter
ests to Thomas J. Waldo, vice presi
dent of the National Bank of Com
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Federal Reserve Bank of St. Louis
merce T&S, Lincoln. Mr. Pivonka has
been in the banking business 51 years
and will continue as a director of the
bank.
Bankers Honored
Two banking families who have
given a total of nearly two centuries
of service to the Albion, Neb., area
were honored recently by the Albion
Kiwanis Club.
Accepting the best wishes of the
club at a special meeting were Roger
Blatter, president of the Albion Na
tional Bank, and Jim Fox, Jr., presi
dent of the First National Bank.
New Building in Blair
Construction has been started on a
new building in Blair to house the
new Blair Bank. Completion is ex
pected by the end of this year, at
which time the Blair Bank will move
in for permanent occupancy. It was
formerly the Herman State Bank at
Herman.
Scribner Open House
A good turnout was reported among
residents of the Scribner area last
month as the Scribner Bank held open
News
95
and have, on balance, liquidated gov
ernments. Loans, municipals and gov
ernments have been lengthened appre
ciably. At the same time, banks have
not increased their capital accounts
proportionately so that any ratio of
deposits, total footings, or risk assets
to capital that might be calculated is
substantially less favorable than it
has been in many years.
“The significance of these facts,”
Mr. Gaines stated, “for the commer
cial banker is that he should at this
time be most cautious in managing
his investment portfolio.” He said if
the economy continues to strengthen
and a tax cut follows, the Federal Re
serve System will move to make
money tighter than it has been in the
past three years. If this happens,
many banks might rather quickly find
themselves s que e z e d to service a
growing volume of loan demands.
Even a rather moderate credit tight
ening might bring this result.
He predicts two unfavorable conse
quences would ensue. First, many
banks would find themselves short of
loanable funds just when their cus
tomers need the mony. Second, ad
justment of portfolios to supply cash
would take place in a bear market for
bonds, entailing the absorption of cap
ital losses as bonds were sold.
Entertainment Is Tops
OPEN HOUSE at Scribner Bank drew
1,500 persons. Shown above in new lobby
area is A. S. Chaves, v.p., 1st National
B&T, Lincoln, and a director of Scribner
Bank.
house so the public could view the
completely remodeled quarters. New
lighting, carpeting, acoustics and back
ground music were among features
included in the program. Visitors were
taken on conducted tours of the bank,
which has about 3,000 square feet of
floor space.
NEBRASKA CONVENTION . . .
(Continued from page 90)
tally less liquid today than they have
been in a long while.
Regarding the l atter point, Mr.
Gaines said banks in the past year
have added a record amount to their
loan and municipal bond portfolios
Irv Wermont, billed as humorist,
author and educator, proved himself
just that as the final speaker. A sam
ple of his comments: “Perfection is
only an ideal but it is a goal for which
we strive and try to achieve always.
In this way we improve ourselves
continually.” “Humor is an asset—
not just laughing at everything, but
the ability to appreciate life each
day.”
Mr. Wermont amazed the audience
with his entertaining ability to re
member the names of every person
he had met prior to the meeting, as
well as recalling even minute details
of a current issue national magazine
he had read only a day or two before.
The principal entertainment feature
of the convention was the annual
banquet in Omaha’s spacious Civic
Auditorium with a Pops Concert pro
gram presented by Omaha’s cele
brated S y mp h o n y Orchestra con
ducted by Joseph Levine. Mr. Levine
had flown back to Omaha from New
York for this engagement. He has
been invited to spend the summer as
guest conductor in New York. The
concert was again well received by
the crowd of nearly 1,000 persons.
The highly successful 66th annual
convention was concluded with a buf
fet luncheon on the second day.— End.
Northwestern Banker, Ju ne. 1963
96
First National Bank & Trust
T HE
Company of Lincoln last month
announced plans for installation of a
new large-volume, automated check
processing center to occupy the third
floor of First National's present facili
ties at 12th and N Street.
Built around a Burroughs Model
B272 Computer, the data processing
center will handle the bookkeeping
transactions surrounding checking ac
counts, savings accounts, installment
loans, commercial loans and trust de
partment activities. Additionally, the
center will be used to process deposit
and transit items for many of the cor
respondent banks being served by
First National.
A spokesman for the bank noted,
“ Installation of this new electronic
system will enable us to improve our
service to our local depositors and to
our correspondents. The equipment
is designed to handle approximately
11,000 checks and deposit slips an
hour . . . a fantastic speed, but a speed
that is required to meet the demands
of our ever-growing economy.”
The “brain” of the data processing
system is the B272 computer which
functions through the use of MICR.
Other items of equipment used in con
nection with the B272 in the total
processing system include:
1. A high-speed, solid-state central
processor with 9,600 positions of mag
netic core “ memory.” In the 30 sec
onds normally required for a bank
customer to fill out the average depos
it slip, this processor will perform
30,000 mathematical calculations.
2. A MICR sorter-reader which proc
esses 1,560 checks or deposit slips per
minute.
3. A punched-card reader.
4. Four high-speed magnetic tape
drives that read or write 50,000 charac
ters per second.
5. A high-speed multitple tape lister
which produces six separate cash list
ing tapes simultaneously at 1,600 lines
per minute more than one quarter of
a mile of tape in an hour.
Installation of the new equipment,
which will be leased by First Nation
al, is scheduled for the spring of 1964,
the earliest delivery date possible due
to tremendous demand for this type
of equipment in all phases of indus
try, commerce and government.
OFFICERS of First National Bank & Trust Company of Lincoln view scale models
of the Burroughs Data processing equipment scheduled for installation in their bank
in the spring of 1964. Left to right: Burnham Yates, president; A. S. Chaves, vice
president and Wheaton Battey, chairman.
Northwestern Banker, June, 7963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Federal Reserve Board last
month officially turned down an appli
cation by Trans-Nebraska of Lincoln,
for permission to become a bank hold
ing company.
Trans-Nebraska proposed to acquire
more than 50 per cent of the outstand
ing common stock of the Martell State
Bank, the Sioux National Bank of
Harrison and the Crawford State
Bank.
The board noted that on March 12
the Governor of Nebraska signed a
bill prohibiting furthur acquisition of
banks by holding companies in the
state.
The board said that for all practical
purposes, in view of the new state
law, Trans-Nebraska would be frozen F
in its present posture with the chances
of any substantial enhancement of
earnings on, or capital appreciation
of, its stock speculative at best.
The board stressed that it was not
questioning the integrity or the good
faith of the organizers of the proposed
holding company, but said a consum
mation of the proposed arrangement
“would be adverse to the interest of
the potential investors, and conse
quently adverse to the public inter
est.”
^ ^
Capital funds of the First National
Bank & Trust Company of Lincoln
would be increased to an amount ex
ceeding $11,650,000, according to a pro
posal announced last month.
Subject to stockholders’ approval at
a meeting to be held June 4, capital
would become $4,750,000 and surplus
would also be increased to $4,750,000.
Undivided profits would total approxi
mately $2,160,000.
It was proposed that the number of
shares presently outstanding be in
creased from 212,500 to 425,000 by a
change in par value from $20 to $10.
Additions to capital stock will arise
from the sale of $250,000 par value of
capital stock and issuance of a $250,000 stock dividend. Surplus will be
increased from the proceeds of the
sale and a transfer from undivided
profits.
In recommending the increases the
bank’s board of directors noted the in
crease of the bank’s deposits and loans
and the prospective economic growth
of Lincoln and of Nebraska. The cur
rent level of deposits is above $120,000,000 and the loan total is approxi
mately $68,000,000. Five years ago, in
1958, deposits averaged $100,000,000
and loans $49,000,000.
The board of directors proposes to
declare quarterly dividends of $.25 per
share on the new $10 par value stock,
or $1 per share per year.
i
97
F IR S T CLASS
MAIL,
¡Special
T r a n s it
IP H V IC E
F I R S T N A T IO N A L B A N K
I TR U S T CQM PANV
u n c ö in , h t b r a s k a
Bankers with plans use the
TRANSIT SERVICE that is
fast, accurate, and dependable.
FIRST NATIONAL BANK
S. T r u s t C o m p a n y of Lincoln
LINCOLN,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NEBRAS KA
MEMBER
F.D.I.C.
Northwestern Banker, June, 1963
98
Nebraska News
MJ. S. f'h ork tiook Slum s Mïxpaiulvil. M od vrn P la n t
committee were Clifton B. Batchelder,
president (shown seated behind desk in
his office), and Fred E. Pfaff, vice presi
dent (seated left).
Located at 1201 South 16th St., the
building (above) provides ample office
space on the upper floor. Each private
office is completely equipped with office
furniture sold by the company to banks
and other businesses throughout the mid
west so that the offices, in effect, provide
a working display room.
The lower floor houses the principal
OPEN HOUSE was held during the Ne
braska Bankers Association convention in
Omaha last month by United States Check
Book Company to show bankers the great
ly expanded, modern facilities recently oc
cupied by the firm. Heading the greeting
H
N ew
N
E W
a
a
n
k Mliar t A ttir iti/
pace
in
N eb rask a.
D i
Bank
to
D a v id
C ity
c ia tio n
a fte r
th e
m o n th
of
B a n k in g
R a lp h
c o n v e n tio n
in
M is k o
O m aha
re
la s t
th a t th e r e a r e s ix a p p lic a tio n s
fo r
new
fo r
a m ove
sta te
to
banks
on
a n o th e r
f ile
and
to w n .
one
T h is
is
a re p o r t a t p re ss tim e o f c u r re n t a c tiv
ity
in
c o n n e c tio n
w ith
th e se
a p p lic a
tio n s :
(sa m e
m ove
fro m
w as
g ra n ted
U ly sse s
M ay
3. P a i d - i n
4. T h e
th e
in to
be
d a te
L e ste r
in g
m ove
D ir e c to r
w o u ld
be
M is k o
p e r m itte d
bank
sa id
w ill
th e
c o n tin g e n t
upon
1.
m ove
of M ay
E.
p r o fits
be
C ity
s ix
c o m p le te
Bank
m o n th s
ir s t
N
(p r e s e n tly
m oved
in to D a v id
e b r a s k a
Member New York Stock Exchange
Municipal and Corporate Bonds
•
S
fo r
fro m
th e
s p e c ifie d
b a n k in g
and
by
hopes
C ity b y
e c u r it ie s
,
I
nc
.
/ American Stock Exchange (Assoc.)
•
Listed and Unlisted Stocks
1 0 0 1 "O" S t., L i n c o l n , N e b r .
A re a C o d e 4 - 0 2 - T e l . 4 -7 7 -9 2 2 1
sjebr.
2 3 7 N. St. J o s e p h A v e ., H astin gs, N
ebr
A r e a C o d e 4 - 0 2 - T e l . 4-6 3-3 14 .1
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
th e
d i
to
be
S e p te m b e r
Distributors
Mutual Funds
and
opens
Complete investment service
F
be
22.
re q u ir e m e n ts
of
Dealers
w ill
S o u b a , p r e s id e n t, U ly s s e s
recto r
Underwriters
$ 5 0 ,0 0 0
a t la s t y e a r -e n d ).
w ill
T h e b a s i c c a p i t a l w i l l b e $ 1 0 0 ,0 0 0
$ 2 5 ,0 0 0 ) .
be
S t a t e B a n k , t o l d t h e N orthwestern
B anker h e p l a n s t o c o m p l y f u l l y w i t h
th e
th e fo llo w in g :
u n d iv id e d
D a v id
Bank
th e
w ill
( $ 1 7 ,0 0 0
b u s in e s s
22, an d
k n o w n a s th e D a v id C ity B a n k .
m ove
s u r p lu s
as at p r e s e n t).
$ 3 5 ,0 0 0
T h e a p p lic a tio n o f th e U ly s s e s S ta te
p o r te d to th e N e b r a s k a B a n k e r s A s s o
re cto r
2 . P a id -in
Ulysses—David City
b a n k a c t i v i t y is c o n t i n u i n g a t
ste a d y
function of U. S. Check Book Co., the
manufacture and imprinting of thousands
of checks daily for bank customers. The
building layout provides a steady work
flow for each order so that every step is
performed in complete continuity as it
proceeds through the plant. This work
floor has the latest in printing equipment,
ample storage of individual printing
plates, large storage area adjacent to the
printing section, separate dock space for
trains and trucks, private office for the
plant superintendent and a large, modern
employee lounge and cafeteria. The effi
ciency of the one-floor work plan has
speeded up the processing of every order,
reports Mr. Pfaff, and has increased plant
A
capacity with the same staff.
Demonstrating one of the new, high
speed automatic check cutting machines
during the open house is Chuck Peterson,
sales rep. for the firm, Sioux City. Others,
from left, are officials and their wives
from the National Bank of Norfolk: L.
W. Ross, dir.; Herman F. Brase, cash.;
Mrs. Brase; L. R. G-illett, dir.; Mrs. Ross;
Mrs. Gillett; Mrs. Reynolds and Henry
Reynolds, pres.
U. S. Check Book Company operates
throughout the midwest and has sales rep
resentatives located in several major cities.
6 1 0 - 6 1 1 Y a n c e y H o te l, G r a n d I s la n d , N e b r .
Area Code 3 0 8 -T e l . 3 8 2 -0 7 4 -6
^
99
Nebraska News
1.
A
tw o -s to r y b r ic k b u ild in g o n
th e
p r e s id e n t
sq u are
fo r
Bank.
to w n
w ill
be
b a n k in g o p e r a tio n s .
r e m o d e le d
A r c h ite c t fo r th e
p r o j e c t is R o y N e a l , p r e s i d e n t o f W e s t
ern
Bank
C o n tra c to rs.
I n c .,
K an sas
of
It
th e
is
S c o tts b lu ff
re p o r te d
N a tio n a l
th e
p roposed
c a p i t a l i n t h i s a p p l i c a t i o n i s $ 8 0 ,0 0 0 .
T h e r e w a s a b a n k in M in a ta r e , p o p
u la tio n
600,
fo r
30
years.
The
F ir s t
N a t io n a l B a n k w a s o r g a n iz e d in 1929.
C ity .
t h a t th e jo i n t s u r v e y c o n d u c te d b y h is
d e p a r tm e n t a n d th e F D I C
d id n o t d e
te r m in e th a t th e g r a n tin g o f th e n e w
ch a rter
w o u ld
p r o v id e
p u b lic
s ity , c o n v e n ie n c e
and
p o in te d
out
th a t
th e r e
are
area
w ith in
a
T h e o w n e r s c o n v e r t e d it t o t h e M i n a
se r v in g
th e
o n e o th e r b a n k — F ir s t N a tio n a l B a n k ,
ta re
1 9, 1 9 6 0 , t h e n
d iu s
G eneva
w ith
r e c e iv e d
m ove
lo c a te d in F i l l m o r e C o u n ty .
D a v id
C ity ,
p o p u la tio n
2 ,5 0 0 ,
has
P a u l K o s c h a s p re s id e n t.
S ta te
Bank
M arch
a u th o r ity
to
o f G e r in g o n J a n u a r y 3, 1961.
a p p lic a tio n
fo r
a
sta te
bank
c h a r te r w a s s u b m itte d A p r il 24, to b e
know n
o f M in a ta r e .
To
t a l c a p i t a l w o u l d b e $ 7 5 ,0 0 0 w i t h
$ 5 0 ,-
000
as th e B a n k
b a s ic
c a p ita l,
$ 1 5 ,0 0 0
$ 1 0 ,0 0 0 u n d i v i d e d
p a l a p p lic a n t
is
s u r p lu s
p r o fits .
lis te d
The
as
S c riv e n ,
p r e s id e n t
of
G e r in g .
A s s o c ia te d
w ith
a p p lic a tio n
are:
S c o tts b lu ff;
in g ;
L.
C.
R ay
E.
R.
R e g e ste r,
O.
p r in c i
C. E ld r id g e
th e
Bank
h im
of
in
th e
D a gg ett
of
A n d erson
of
G er
c a s h ie r ,
Bank
of
E . H e lm ic k , K e r m it L . L u p h e r a n d
Jack
C.
L upher,
su rvey has been
a ll
of
M in a ta r e .
sc h e d u le d b y
bank,
th e
th e re
s in c e
la tio n
G e rin g
1910.
A
th e
th e
F D IC
An
and
w ill
be
fo llo w e d
by
a
I t w a s le a r n e d la t e la s t m o n t h t h a t
a
n a tio n a l
bank
ch a rter
f o r a b a n k in M in a ta r e
June
4
R oom
2 6 -m ile
ra
th e se
are
of
and
5
a p p lic a tio n
a ls o
has been
h e a r in g
h e ld
in
in
th e
w as
w as
N o rth
P la tt e
D is tr ic t
C ou rt
th e
s c h e d u le d
a p p lic a tio n
in
fo r
T h is
c o n n e c tio n
a sta te
bank
c h a r t e r t o b e o p e r a te d in t h a t c it y u n
der
th e
Bank.
nam e
The
of
N o rth
h e a r in g
P la tte
is
open
th e
p u b lic .
T h e d ir e c to r o f b a n k i n g o n A p r i l 29
Sew ard
The
a
sta te
bank
a p p lic a tio n
d e c is io n
M is k o
sta te d
C o u n ty
ch a rter
in
Bank
G eneva.
w a s f ile d l a s t D e c e m
ren d ered
in
h is
June
10.
He
has
W illia m J. B a r tle m a n , 61, p r o m in e n t
liv e s to c k
r a is e r
C itiz e n s
N a tio n a l
and
a d ir e c to r o f th e
Bank
at
A p r il
le tte r
29.
of
W is n e r ,
d ie d o f c a n c e r e a r ly la s t m o n t h .
Grants Scholarship
Y ork
S ta te
a
g r a d u a tin g
Bank
M r.
d e n ia l
School
s e n io r
S c h o o l in Y o r k .
fo r
th e
William J. Barleman
c a tio n
F illm o r e
of
Sew ard,
r ic u ltu r e fo r 26 y e a r s .
H ig h
th e
in
has
r a te d a n a n n u a l s c h o la r s h ip
th e
group
in
is s u e d a n o r d e r o f d e n ia l to th e a p p li
of
m anager
branch
w ill jo in th e s ta ff o f th e J o n e s N a tio n
The
Geneva
Jam es A .
H e a d in g th e
o ffic e
S ta te
to
b e r 5 , h e a r i n g w a s h e ld M a r c h 1 4 a n d
s e e k i n g t h i s c h a r t e r is H . D . K o s m a n ,
H am pp,
c o n s e r v a tio n
b e e n w ith th e U . S. d e p a r tm e n t o f a g
o f th e c o u n ty c o u rth o u se .
h e a r in g
w ith
to b e
Ed
so il
al B an k
f ile d w i t h C o m p t r o l l e r o f t h e C u r r e n c y
Saxon.
s ix
He
banks
Joins Seward Bank
been
G e rin g h a s a p o p u
a d m in is tr a tiv e
sc h e d u le d
d i
h e a r in g .
A n o th e r
has
North Platte
r e c t o r o f b a n k i n g in c o n ju n c t io n w it h
p u b lic
N a tio n a l,
o f a p p r o x i m a t e l y 3 ,8 0 0 p e r s o n s .
and
G e r i n g , a n d T . J. H o n , H . O . W i c k a r d ,
C.
in to
and
15
G e r in g a n d c h a n g e th e n a m e to B a n k
Minatare
An
it
of
n eces
a d v a n ta g e .
or
at
S t.
in a u g u
a w a r d to
e ith e r
Y ork
J o s e p h ’s
H ig h
D e a n S a c k , p r e s id e n t
o f t h e b a n k , s a i d t h e a w a r d is e f f e c t i v e
w ith
is
th e
1963 g r a d u a t in g c la s s a n d
d e s ig n e d
to
a id
w o rth y
it
stu d e n ts.
T h e s c h o la r s h ip w ill b e fo r $300 e a ch
year.
We Have Designed and Produced Many Outstanding Installations For Banks
— We W ill Be Happy To Design Your Electrical Advertising Program For
You— No Obligation.
iL d rro A k a .
‘ Hallmark
of
Qualify
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
KBsM SOOG3 ©9,
♦NEBRASKA'S ONLY ZEON LICENSEE
1140 NO. 21 ST ST. • LINCOLN, NEBRASKA • PHONE 2-6563
Northwestern Banker, June, 1963
100
. . . one o f the up-to-the-minute
facilities behind our progressively
better service to you , . .
. . . it reads, classifies and sorts up
to 950 checks and documents per
minute . . . reduces human error to an
absolute minimum . . . speeds up our
handling o f transit items.
More than an intriguing space age de
vice, this machine typifies our constant
effort to use every reasonable means to
render the most complete, efficient corre-
spondent bank service available . . . and,
scores o f thoughtful bankers are taking
full advantage o f what we have to offer.
Are you?
Write or phone, Cyrus Kirk or Homer
R. Jensen (515, 283-2421) to receive
the kind o f business-like-knowing, corre
spondent bank acumen yon deserve in
the handling o f every aspect of your
account.
BANKERS TRUST COMPANY
6th and Locust Streets
" The Largest Locally Owned Bank in Des Moines"
MEMBER: FRS
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DES MOINES, IO W A
MEMBER: FDIC
101
w ay
out
Io w a
N EW S
President
FRANK WARNER
in d ic a tio n
se c tio n
r e c e iv e d
fo u n d
is
fro m
M is s o u r i,
B
th e
m id w e s t
w is h in g to a c tiv a te , s tim u la te a n d
p e rp e tu a te
in d u s tr y
can
in g
p e o p le
o f th e
to
a tte n d
th e
fo r
how
by
in
th e
w om an
w ho
w ho
still
paper.
d u s t r y in
g u id e d
to
in d u s tr ie s .
th e
S ta te
M on ticello E x p ress
and
th e
M o n tic e llo
c o n fin e
Group 11 Golf Party
c e l lo ,
Io w a ,
cr e a te
an
tio n a l
good
am ount
The
bank
re
p u b lis h e d
page,
e ig h t-
tw o -c o lo r
s e c tio n
in
th is
in
th e
lo
n ew sp ap er —
c o m m i t t e e — a ll
And
th is
p r a is e
of
e d ito r
th e
d i d n ’t
bank
and
its
a b le
h is
s ta ff
He
G roup
p a r ty
11
and
w ill
h o ld
o u tin g
at
th e
to w n s p e o p le .
e n lig h te n m e n t
A fte r
d is c u s s in g
th is e d ito r ia l th e m a n y
has
know n
in v a r i o u s
of
f in e b a n k s h e
Io w a
25.
in
Jesup Anniversary
c itie s , h e
sa id :
The
F arm ers
n ity
N o t o n ly
is
No
s p e c ia l
ees o f th e b a n k
t h e b a n k w i l l i n g t o h e l p , it is a l w a y s
th e
o c c a sio n .
on
th e
a to u r
s e c tio n
o f th e
w as
S a v in g s
Bank,
Jesu p ,
o b s e r v e s its 6 0 th a n n iv e r s a r y o n J u n e
g r o u p p i c t u r e s o f o f f ic e r s a n d e m p l o y
in
g o lf
C o u n t r y C lu b in W a s h i n g t o n o n T u e s
th e
th e
tu r e d
annual
W a s h in g to n
day, June
fo r
S ta t e B a n k , e s e p c ia lly in
tr ie s in th e M o n t ic e llo a r e a .
its
th e
a l s o p u b l i s h e d a n e d i t o r i a l in h i s o w n
fe a tu r e d
a n d o f v a r io u s in d u s
c iv ic -
n ew sp ap ers
c a n ’t h o l d
la r g e
f in e
o r g a n i z a t i o n s .”
The Monticello
E x p ress — w h i c h
38
The
G re a te r
c o m m u n i t y .”
t o t h e N orthwestern B anker o n l y .
s p e c ia l
cal
of
w ill.
c e n tly
a
and
excep
p rogress
is d u e
Bank,
m in d e d
th e
in
her
e x p r e s s in g
o f th is g r o w th
M o n tic e llo
p r o g r e s s iv e
M o n ti-
th e
liv e s
M o n tic e llo , s h e sa id :
“ I fe e l m u c h
to u r
a n d h is b o a r d a r e r e s p o n s ib le fo r m o s t
Bank,
w as
ta k e s
A fte r
of
S ta te
s p e c ia l
bank
a “ L e tte r to
a p r o je c t s im ila r to th a t u s e d r e c e n tly
M o n tic e llo
in
any n ew s
th e
by
th e
fo r
is
a m a z e m e n t a t th e r a p id g r o w t h o f in
“ J im M a u r ic e , p r e s id e n t o f th e b a n k ,
u n d e rta k e
a
but
h o m eto w n
in d u s tr y
of
n ew sp ap er
E d ito r ”
Des Moines
th r o u g h o u t
T h is
Credit for Progress
H ank P r o m o te s C ity
ANKS
p r o je c ts
e d i t o r .”
An
Garner
Secretary
le a d in g
b e tte r m e n t.
d e e d a r a r e e x p e r ie n c e
paper
H. L. OLLENBURG
fr o n t
c o m m u n ity
“ F in e
as
th e y
w ere,
a c a n d le
s e r v ic e
and
to
are,
our
d e p a rtm e n t.
th e y
M o n tic e llo
com m u
1 7.
as
The
th e
bank
opened
F arm ers
Bank
in
June,
of
1879,
J esu p .
It
to o k a s ta te c h a r te r o n J u n e 25, 1903.
p la n s
are
b e in g
m ade
fo r
A ls o fe a
in fo r m a tio n
p la n ts , a r r a n g e d
by
th e G r e a te r M o n tic e llo C o m m itte e a n d
s u p p o r te d b y th e b a n k .
All Industries Included
In
th e
to p -q u a lity
lo c a l m e n
d u stry
.
.
p ic tu r e s
tle s
of
and
.
and
w ere
a ll
d e s c r ip tio n
p h o to s
w om en
a p p e a r in g
th e
310,
nam es
p lu s
a
d iffe r e n t
th e ir
w ere
p e o p le
in
w ith
and
ti
and
p la n t .
in d u s tr ie s
in
th e
jo b
h is to r y
s a lu te d
310
in
o f p ro d u c ts o f e a ch
S ev en tee n
c ia l
w ere
engaged
th e
and
sp e
s e c tio n .
T h is
ty p e
of
p r o je c t
e x c e lle n t p u r p o se s.
serves
Am ong
m any
th e m
are
g o o d w ill fo r th e s p o n s o r in g b a n k a n d
it s p e o p l e ; g o o d w i l l f o r t h e i n d u s t r i e s
in
th e
in g
area, an d
of
th e
a b e tte r u n d e rsta n d
in d u s tr ie s ,
p o lic ie s a n d p r o d u c ts .
th e ir
h is to r y ,
T h is p r o m o tio n
s e r v e s a ls o to s e r v e n o t ic e t h a t in d u s
tr ie s o u t s id e o f M o n t ic e llo s h o u ld c o n
sid e r
new
th e
“The
m ay
per
fu l
c ity
fo r
a
new
p la n t
or
a
b u s in e s s .
I n d u s tr ia l S e c tio n w a s , a s y o u
h a v e d e d u c e d ,”
e d ito r ,
“an
p u b lic
banks
sa id
th e n e w s p a
o u ts ta n d in g ,
r e la tio n s
m ig h t w e ll
su ccess
m ove.
copy
O th er
th e
bank
s e c tio n
bought
fo r
a ll
e e s a n d a ls o p o s te d
e x tr a
in d u s tr y
th e
H O U S E w a s h e l d r e c e n t l y in
th e n e w ly r e m o d e le d
M o n tg o m e ry
Bank,
R ed
M ayne,
The
of
e m p lo y
Oak,
th e
bank
and
q u a rters of
C o u n ty
a c c o r d in g
p r e sid e n t.
b u ild in g
c o p ie s
se v e r a l s ig n s u r g
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PEN
a tte n d e d
it.
Extra Copies for All
“The
O
O ver
N a tio n a l
to
3 ,0 0 0
W .
S.
p e o p le
e v e n t.
p u rch ased
th e
in c o r p o r a te d
a d ja c e n t
it i n t o
th e
p r e s e n t b a n k in g q u a r te r s, n e a r ly d o u
b lin g
The
th e
q u a rters
are
b e a u tifu lly
v a r i o u s c o lo r s c h e m e s
th ro u g h o u t
th e
rio r w o o d w o r k , su c h
bank.
as
A ll
d itio n
to
th e r e
are
an
a ttr a c tiv e
fo u r
o f f ic e s
in te
te lle r s ’ c o u n
te r s , a n d fix tu r e s , a r e w a ln u t.
o ffic e r s ’
or
In
ad
area,
c o n fe r e n c e
r o o m s , a s w e ll a s a lo u n g e fo r w o m e n
e m p lo y e e s .
A
new
tio n a l
f lo o r s p a c e .
new
d ec o ra te d w ith
u sed
n ig h t
sa fe
d e p o sito r y
d e p o sit
boxes
and
w ere
a d d i
in
s t a l le d .
Northwestern Banker, June, 1963
Iowa News
102
K st h e re ille tó m a te le s
F arm ers
S a v in g s
Bank,
P r in c e to n ;
t r e a s u r e r , F r e d W . Y e a d o n , J r ., e x e c u
tiv e
v ic e
and
T ru st
p r e s id e n t,
se c re ta ry , L lo y d
d en t,
N o rth w e st
C om pany,
C e n tr a l
Bank
D a v en p o rt,
B a u s tia n , v ic e
&
T ru st
S a v in g s
and
p r e s i
Bank,
E ld r id g e .
Heads Clarion Bank
T h e b o a r d o f d ir e c to r s o f th e W r ig h t
C o u n t y S ta te B a n k , C la r io n , a n n o u n c e d
th e
fo llo w in g
p r o m o tio n s
e ffe c tiv e
4
R. D.. M c K E E
im m e d ia te ly .
OPEN" HOUSE at Estherville featured new $80,000 drive-in bank addition.
T
HE
Io w a T r u s t a n d S a v in g s B a n k ,
E s th e r v ille ,
m o d e rn iz e d
open
bank
w in d o w ,
a d jo in s
a
a ir
new
d e p a r tm e n t, a w a lk -u p
d r iv e -in
cu sto m e r
c o n d itio n e d ,
n u t, e q u ip p e d w ith
fu r n itu r e .
in
se r v ic e ,
and
p a r k in g
p a n e le d
in
lo t .
w a l
c o m fo r ta b le , m o d
The
in s t a llm e n t
lo a n
in c lu d e s
tw o
The
r e m o d e lin g
new
d ir e c to r ’s
ence ro o m
and
M r. M cK ee
a
p r e s id e n t
c o n fe r
ta k e s
in th e o r ig in a l b a n k b u ild
H a r o ld
im a te ly
c h a ir m a n
fa c ilitie s
fo r
M r.
c u s t o m e r s e r v ic e , a c c o r d in g to F r a n c is
tio n
J. S h a d le , p r e s id e n t .
M ore
th a n
4 ,0 0 0
r e s id e n ts
of
th e
in g th e
years
h ou se.
E . E . W e i m e r , p r e s id e n t o f th e C iti
zens
N a tio n a l B a n k , B o o n e , h a s b e e n
fr o m
years
B an kers
N orw ay.
A s s o c ia tio n .
L a m b , c a s h ie r
o f C ity
and
L aV ern
B a b b itt
of
B oone,
s e c r e ta r y -tr e a s u r e r .
d a ll
H . B r e k k e n , p r e s id e n t o f th e R a n
S ta te
Bank,
and
of
age,
liv in g
near
M rs.
B rekken
L.
T r o n d h e im ,
D.
B rekken,
has
c a s h ie r
lo c a l
a c ce p ted
of
bank
and
w ill
th e
as
th e
as
fo r
to
fo u r
serve
d ir e c to r
S ta te
S ta te
H e h as serv ed
c a s h ie r
and
p o s i
B ren to n
c o n tin u e
p r e s id e n t
J. P a u ls o n ,
of
as
th e
Bank.
e x e c u tiv e
v ic e
p r e s i
K in g ,
v ic e
p r e s id e n t
p r e s id e n t
of
N am ed
th e
V ic e
T ru st C om pany,
to
U n io n
T ru st
C o u n ty
w ood,
and
A s s o c ia tio n .
N a m e d to a s s is t M r. K in g a re :
p r e s id e n t,
W m .
K.
S to u t,
th e
a ssist
p r e s id e n t,
h a s b een n a m e d p r e s id e n t o f th e S c o tt
B an kers
of
C edar
C o u n ty
B a n k e rs A s s o c ia tio n .
V ic e
&
M r.
R oger
P a u ls o n
S a v in g s
Bank,
S ta n John
W . K o fo e d , c a s h ie r , F i r s t S ta te
Bank,
W e s t B ranch.
c a s h ie r ,
are:
S m ith , c a s h ie r ,
s e c r e ta r y -tr e a s u r e r ,
SOUTH SI XTEENTH STREET
OMAHA
Un iteci States
Ck«ck C
üi*f4t>y
Northwestern Banker, June, 1963
W .
r e m a in s
T r u s t & S a v in g s B a n k , h a s b e e n e le c t
1201
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
w ho
He
fro m
d e n t a n d c a s h ie r o f th e M a c h a n ic s v ille
Scott County Elects
W .
years.
Cedar County Election
ed
D aven p ort B an k and
European Tour
J.
M r.
S ta te
B a n k , M a d r id , w ill s e r v e a s v ic e p r e s i
d en t,
Y ork.
h a s a b r o t h e r a n d s is te r , b o th p a s t 90
e le c t e d p r e s i d e n t o f t h e B o o n e C o u n t y
D o n a ld
N ew
fo u r
p r e s id e n c y
o f th e b o a rd .
W r ig h t C o u n ty
le f t o n a tr ip to E u r o p e o n M a y 30 b y
p la n e
p ast
B a n k a t D a lla s C e n te r .
th e
R ic h a r d
c a s h ie r .
th e
Lom en
v ic e
Boone County Election
bank.
v ic e p r e s id e n t an d
B r e n t on,
as
E s th e r v ille a r e a v is ite d th e b a n k d u r
tw o -d a y o p e n
th e
h a s b e e n e x e c u tiv e v ic e
th e
over
in g , i n v o lv e s a n i n v e s t m e n t o f a p p r o x
$ 8 0 ,0 0 0 in b e t t e r
of
B u r t d a y is n e w
p r o g r a m , in c lu d in g
room
R o b e r t D . M c K e e is t h e
p r e s id e n t
L o m e n is th e n e w
m e e tin g
r o o m s fo r c u s to m e r p r iv a c y .
an
a
h o u s e s a c o m p le te ly m o d e r n
te lle r
ern
and
w ith
a d d itio n to th e r e a r o f th e
s ta llm e n t lo a n
is
e n la r g e d
fa c ilitie s
h ou se.
The new
It
opened
s e r v ic e
d e p a rtm e n t
new
B. D AY
\-
8, N E B R A S K A
■
L
103
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Northwestern Banker, June, 1963
104
Iowa News
le g is la tio n , A g r ira it u re. S ervice
F ea tu red at im va
M ee tin g s
fu n d s
w ill
be
c o m m itte e
L ast
set
by
w h ic h
m e e tin g
of
L
in
f ie ld
of
a g r ic u ltu r e
and
N e w l y e l e c t e d c h a i r m a n o f G r o u p 3 is
K e r m it
S.
P a u ls o n ,
p r e s id e n t,
w o o d S ta te B a n k , N o r th w o o d , a n d se c
to p ic s
re ta ry
w eeks
of G roup
of
d is c u s s io n
of
c o m p le te d
Io w a
M ay
24
2 at
th e
d u r in g
group
w ith
th e
N ew
th e
m e e tin g s
The
In n
on
m e e tin g
w as
th a t
of
John
M c W h irte r,
th is
th e
Io w a
le g is la tu r e
a ffe c tin g I o w a b a n k s .
se cre ta ry
at W in te r s e t,
qua,
at
G roup
8
G roup
at
M a n c h e ste r,
10
at
M u s c a tin e ,
G roup
7
at
K eosau G roup
4
S u m n er,
c o m m itte e
w as
ch an ged
th is
T h is
w ill n o t be
p r io r to th e n e x t
c o m m itte e
A n o th e r
w h ic h
w ill
im p o r ta n t
ste p
th e le g is la tu r e
w as
th e
m e e tin g
be
J u ly
ta k e n
of
1.
by
e s ta b lis h m e n t
o f a c o m m it te e to c o m p le te w o r k o n a
U n ifo r m
g r e a t m a n y b ills w e r e in tro d u c e d
in to
G r o u p 5 in C o u n c i l B l u f f s . O t h e r m e e t
G rou p
fu n d s
q u a r t e r ly .
C o m m e r c ia l
Code
fo r
Io w a .
T h i s c o m m i t t e e is t o s t u d y a p r o p o s e d
in g s w e r e
(in th e o r d e r h e ld ):
p r e s id e n t,
Legislative Action
Lake
A
o p e n in g
is
S ta te B a n k o f A llis o n .
m e e tin g
O k o b o ji.
6
N o rth -
th e n e e d fo r fu ll s e r v ic e b a n k in g
w ere
tw o
th e
ch an ges
p u b lic
A p r il 1 a n d a t th a t tim e th e ra te w a s
s e t a t 2 V2 p e r c e n t .
p rogress,
e g is l a t iv e
a
m e ets
c ia tio n ,
of
th e
F ran k
Io w a
r e p o r te d
m easu res
year
W arn er,
B an kers
th a t
in tr o d u c e d
c e n tly c o m p le te d
th is
of
Code
and
p re
th e n e x t s e s s io n .
1 ,1 0 3
th e
se ssio n , 2 07
C o m m e r c ia l
p a r e i t f o r a c t i o n b y t h e l e g i s l a t u r e in
A sso
th e
d u r in g
U n ifo r m
Agricultural Change
re
a ffe c te d
R e g a r d in g
th e
changes
in
a g r ic u l
G r o u p 3 a t C le a r L a k e a n d G r o u p 2 a t
I o w a b a n k s e ith e r d ir e c t ly o r in d ir e c t
t u r e t h a t a r e t a k i n g p la c e t o d a y , H e r b
O k o b o ji.
ly A m ong
ers
O f fi c e r s
w ere
e le c t e d
G r o u p 7 a n d G r o u p 3.
at
N ew
G roup
5,
c h a ir m a n
p assed
O lle n b u r g , p r e s id e n t o f th e Io w a B a n k
th e
w as
o f G r o u p 5 is E l d o n N i e l s e n , a s s i s t a n t
th e
v ic e
Bank,
fu n d s.
M r.
T.
b ill
“a
p r e s id e n t,
C o u n c il
H ow e,
S ta te
B lu ffs .
S e c re ta ry
p r e s id e n t,
B a n k , G r e e n fie ld .
G roup
S a v in g s
7 is J o h n
A d a ir
N ew
is
C o u n ty
c h a ir m a n
fo r
m ore
th e
in v e s tm e n t
is
im p o r ta n t
m easu re
of excess
W arn er
c a llin g
lo c a l
sta te d
c o m p r o m is e
b ills
a ll
fo r
p u b lic
th a t
th is
th e
w ay
a r o u n d ” a n d th a t th e A s s o c ia t io n ’s p o
s itio n
fr o m
th e
b e g in n in g
w as
th a t
A s s o c ia tio n
cock
C o u n ty
c o m m e n te d
in g m e th o d s .
new
se c re ta ry
m a in
m u st
ie r ,
F ir s t
S u m n er.
in
lo c a l
M a x im u m
b a n k s .”
ra te
to b e
p a id
on
th e se
ban kers
He
e rs w h o a re n o t c o m p la in in g a n d w h o
c o m m u n it y w h e r e le v ie d a n d m u s t r e
C. G ie s e , c a s h
and
H an
G arn er,
d a y ’s fa s t c h a n g in g fa r m e c o n o m y .
d e n t, W a lk e r S ta te B a n k , W a lk e r , a n d
Bank,
Bank,
p o in te d o u t th a t th e r e are m a n y fa r m
are
R e id
p r e s id e n t,
th a t fa r m e r s
t h e s e f u n d s “ m u s t r e m a i n in t h e l o c a l
N a tio n a l
and
N a tio n a l
c a n n o t u s e y e s t e r d a y ’s m e t h o d s in t o
p r e s i
is
H . L essen h op,
N.
S ta te
ers
m e e tin g
p r o v id e
and
th a t
th e
c h a lle n g e s
of
ch an g
H e s u g g e s te d th a t b a n k s
m ore
s e r v ic e s
“ s e r v ic e
s h o u ld
to
fa r m
not
be
FEATURED SPEAKER at the annual meeting of Group Six
was Dr. Arthur A. Smith, economist and v.p., First National,
Dallas, shown in the photo at left being greeted by N. E.
Kelley, pres., Farm. & Merch. State, Winterset, at left, who
was one of the hosts. CENTER: Des Moines bankers on pro
gram included, from left, S. C. Barnard, v.p. & cash., Bankers
Trust, who gave the response to welcome; and a panel consist-
ing of Edward P. Kautsky, exec, v.p., Valley Bk. & Tr. Co.;
Dale C. Smith, v.p., Central Natl. Bk. & Tr. Co., and Lewis C.
Cobb, Jr., tr. off., Ia. D.M. Natl. Bk. RIGHT: Officers of Group
Six are W. A. Lane, Jr., v.p., Sec. Sav. Bk., Marshalltown, at
left, who is secretary-treasurer, and F. Addison Jones, v.p. &
cash., Grinnell State Bk., who is chairman.
GROUP 10 PLANS were made by Group Chmn. John H. Young,
pres., First Natl., Centerville, and Fred Ovrom, pres., Farmers
St. Bk., Keosauqua. CENTER — Iowa State Treasurer Mel
Abrahamson visits with J. C. Blackford, v.p., Union Bk. & Tr.
Co., Ottumwa, at Gr. 10 meeting. RIGHT— State Senator Robt.
Rigler, New Hampton, visits with Gr. Chmn. Oliver Hansen,
exec, v.p., Liberty Tr. & Sav. Bk., Durant, about his featured
speech at Gr. 8 meeting in Muscatine.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-»
N orthw estern
Banker, June,
1963
A
105
PORTFOLIO
INDEED..
AND IT’S CARED
FOR BY
THE MEN OF
l
MARQUETTE!”
One of the prime duties o f the counselors of the Marquette Trust Department is to follow
financial trends. Their knowledge and experience is available so that your customers may be
provided with expert portfolio and account management, as well as assistance in family
financial planning.
Working through the Department o f Banks and Bankers, the Marquette Trust Officers,
William Allen, Kenneth Dally and Robert Gillette, provide you and your customers with fast,
personal and confidential service.
In cooperation with officers of Marquette’s Banks and Bankers Department, you and
your customers are assured of the most complete, most up-to-date banking service in the
Upper Midwest.
DEPARTMENT OF BANKS AND BANKERS
TRUST DEPARTMENT
WILLIAM J. ALLEN
KENNETH H. DALLY
ROBERT GILLETTE
OTTO H. PREUS
JOHN T. PAIN, JR.
AVERY G. FICK
V/ce Pres. & Trust O fficer
Vice Pres. & Trust O fficer
Trust O fficer
Vice President
Assistant Vice President
Assistant Vice President
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Federal Reserve Bank of St. Louis
106
Iowa News
sh oved
b e h in d
sto c k h o ld e r
Dual Banking System
i n t e r e s t .”
M r . O lle n b u r g a ls o s ta te d th a t b a n k
ers
m u st
fa c e
th e
fa c t
th a t
govern
fe a tu r e d
sp eaker
m e n t c o m p e titio n
is h e r e t o
sta y
bankers
m eet
th is
c o m p e ti
B a n k , D ecorah .
tio n
o n ly b y p r o v id in g m o r e
an d b e t
th e
te r se r v ic e .
H e n o te d th a t b a n k s can
at
cu rren t
b a n k in g
M r. R on a n
c e n te n n ia l
sy stem
and
cu sto m e rs.
He
sta te
s u p e r in te n d e n t
in
p o in te d
h is to r y ,
o f b a n k s, w a rn ed , h o w e v e r, th a t b a n k s
e r a l)
s h o u ld
o th er.
not
e x te n d
c r e d it
s im p ly
be
He
tro l
t y p e s o f fin a n c in g .
H e sa id th a t ea ch
th a t
banker
h is
dual sy stem
and
s h o u ld
m ake
not
m e r e ly
w h a t th e c o m p e titio n
M r.
S ta ffo r d
ow n
a ls o
c o n fo r m
h is
to
is d o i n g .
w arn ed
s p e c u la tio n in b a n k s to c k s .
th a t, in
d e c isio n
o p in io n , s u c h
fo r
a g a in st
H e sta te d
s p e c u la t io n
to
pay
fo r
v e s t m e n t in b a n k s to c k s .
th e
in
be
sa id
dual
th e
U n ite d
(s ta te
tim e s
or
d o m in a n t o v e r
it s e e m s
d o m in a n t,
keep
in
fe d e ra l
but
h is
S ta te s.
area
th a t
and
to
m u st
no
doubt
com e.
o r ie n t
He
w ill
sa id
th e m s e lv e s
A rth u r
A.
p r e s id e n t
S m ith ,
e c o n o m is t
of
F ir s t
th e
h a n d le d
2, 3,
4
and
7
m e e tin g s .
Panel Discussions
A ls o ,
th e r e
tu re s a d d ed
w ere
several
at som e
e x tra
o f th e
fe a
m e e tin g s .
A t t h e G r o u p 6 m e e t in g in W i n t e r s e t ,
fo r
e x a m p le ,
a
panel
d is c u s s io n
by
I o w a b a n k e r s w a s in c lu d e d in t h e p r o
gram .
S m ith , v i c e p r e s id e n t, C e n tr a l N a t io n
con
al B a n k & T r u s t C o m p a n y , D e s M o in e s ;
th e
o f b a n k in g h a s p r e v a ile d
years
O k l a .,
G roup
th e
su g g e ste d
m in d
C h ic k a sh a ,
a t th e
fe d
fo r
th a t
to
and
N a tio n a l
w ere
D a le
C.
M o in e s
N a tio n a l
Bank,
and
Ed
w a r d P . K a u tz k y , e x e c u tiv e v ic e p r e s
id e n t, V a lle y B a n k & T r u s t C o m p a n y ,
D e s M o in e s.
In
h is
th e
v e y in g
d is c u s s io n ,
im a g e
to
th e
M r.
th a t
p u b lic
S m ith
banks
and
are
d e a lt
con
su g g e ste d
th a t b a n k s s h o u ld e x e r t e v e r y e ffo r t to
in fo r m
B a n k , D a l l a s , T e x ., a t t h e G r o u p 5, 6, 8
o ffe r
a n d 10 m e e t in g s .
sta te d
J e ff W i ll i a m s , a t t o r
P a r tic ip a n ts
L e w i s C . C o b b , J r ., t r u s t o f f ic e r , I o w a D es
w ith
T h e n a tio n a l sc e n e w a s d is c u s s e d b y
D r.
m u st be u sed
sy stem
to
is
years
th e
c h a n g e a n d l e a r n t o a c c e p t it.
v ic e
in g s
100
bankers
a h ig h
o f t h e b a n k ’s e a r n
one
bankers
m any
is n o t g o o d b u s i n e s s , e s p e c i a l l y w h e n
p e r c e n ta g e
now
of
o u t th a t a t v a r io u s
seem s
c a u s e c o m p e t ito r s a r e o ffe r in g c e r ta in
m u st
th e
w as
d is c u s s e d
o u tlin e d
t o r y o f b a n k i n g in th e
S ta ffo r d ,
of
4)
fro m
th is
W . P . R o n a n , p r e s id e n t, D e c o r a h S ta te
o ffe r a s m a n y a s 125 s e r v ic e s to th e ir
C la y
tw o
(G r o u p 2 a n d G r o u p
th a t
can
and
A
m e e tin g s
ney
th e p u b lic o f th e s e r v ic e s th e y
to
th e
th a t
c o m m u n ity .
banks
s h o u ld
He
be
a ls o
le a d e r s
GROUP 4 OFFICERS are, at left, Duane Munter, chairman,
president, Union Bank & Trust Co., Strawberry Point, and Leo
F. Kane, secretary, v.p., Am. Tr. & Sav. Bk., Dubuque. RIGHT:
W. P. Ronan, pres., Decorah State; Mrs. Herbert Ollenburg;
Jeff Williams, speaker at the northern meetings; Herbert L.
Ollenburg, I.B.A. pres.; Mrs. Walter Wiewel, whose husband
is pres., First State, Manchester.
GROUP 7 newly elected officers are, from left, John Corcoran,
Jr., pres., Security State, Independence, past chairman; John
H. Lessenhop, pres. & cash., Walker State, newly elected chair
man; and Reid C. Giese, cash., First Natl., Sumner, newly
elected secretary. CENTER: National Cash Register’s traveling
display constructed in a large van was a new feature in the
meetings this year. Here Jim Schulte with N.C.R. in Cedar
Rapids, is shown seated, discussing some of the equipment with
Dale Lehmkuhl, a.c., First Natl., Sumner. RIGHT: Mrs. Charles
Kramer, Toledo, and Mrs. Mel Harms, whose father is Paul
Sorg, v.p., First Natl., Sumner, visit with Art Lindquist, v.p.,
Merch. Natl., Cedar Rapids. Mrs. Kramer’s husband is exec,
v.p., State Bank of Toledo.
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
107
E N T i n TSI ASTIO
Q»uick to grasp a problem and. eager to solve
it - that’s Don Echterm eyer. Such "action with
interest” as displayed by all our correspondent
ban kin g staff, is another reason w h y Comm erce
Trust serves m ore than one bank in ten throughout the nation.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
D o n E c h te r m e y e r
A s s is t a n t C a sh ie r 1
(ommercejrust (ompany*
Kansas City’s Oldest and Largest Bank
Member Federal Deposit Insurance Corporation
Northwestern Banker, June, 1963
108
News
Io w a
field, was named secy. CENTER—Mrs. Virginia Krueger, City
Natl. Bk. and Mrs. Roberta Gilcrist, Council Bluffs Sav. Bk., #
aided host banks at ladies program. RIGHT—Jack Killackey,
v.p., First Natl. Bk., St. Joe, Mo., registered late arrivals as
Iowa bankers were in session.
GROUP FIVE headed by Chum. F. Jack Lewis, Pres., Harlan
Natl. Bk., featured Dr. Arthur A. Smith, v.p., First Natl. Dal
las, Texas. Eldon G. Nielsen, right, v.p., State Sav. Bk., Coun
cil Bluffs, was advanced from group secy, to chairman, replac
ing Mr. Lewis. Ted Howe, pres., Adair County St. Bk., Green
in
a ll
areas
of
c o m m u n ity
d e v e lo p
s h o u ld
m e n t.
T h is
M r . C o b b o u tlin e d th e s e r v ic e s a v a il
a b le
be
th o r o u g h ly
ch ecked
fo r
in
a
tr u st
d ep a rtm e n t
and
a ls o
c e iv e d
panel
by
w a r n in g
a
th e ir a c c u r a c y .
d is c u s s io n
th o se
w as
a tte n d in g
w e ll
th e
re
G rou p
th a t
c o m m u n is t
Cuba
is
ba se
by
b e in g
th e
u sed
as
R u s s ia n s .
T h is w a r n in g w a s is s u e d b y R ig o b e r t o *
A reces,
a u d ito r ,
N evada
N a tio n a l
6 m e e t in g , a n d in c o m m e n t i n g o n th e
B a n k , N e v a d a , w h o is a C u b a n r e fu g e e
tio n in A m e r ic a n I n s tit u te o f B a n k in g
p a n e l, M r . W a r n e r
now
cou rses
t h i s is t h e t y p e o f f e a t u r e t h a t s h o u l d
d is c u s s e d
M r.
th e
by
a d v a n ta g e
bank
K a u tzk y
of
p a r tic ip a
e m p lo y e e s .
d is c u s s e d
th e
r o le
of
be
in c lu d e d
c o m m e r c ia l lo a n s in b a n k in g a n d o u t
He
lin e d s o m e
great d eal fro m
o f th e p r o b le m s b a n k s e n
co u n te r
w hen
n esses.
H e s u g g e s t e d t h a t i t is v i t a l l y
im p o r ta n t
to
m a k in g
have
lo a n s
an
to
a c c u r a te
b u s i
th e b u s in e s s b e
fo re
and
a
lo a n
su ch
sta te m e n ts
o th er
group
m e e tin g s .
th a t b a n k s w o u ld b e n e fit a
th e e x c h a n g e o f id e a s
panel
d is c u s s io n s
c o u ld
Cuban Warning
op er
a tin g s ta te m e n t fr o m
m a k in g
th a t
sta te d
in
sta te d th a t h e fe lt
A n o th e r
e x a m p le
of added
a t se v e r a l o f th e m e e tin g s w a s a v iv id
A reces
sa id
he
has
Bank.
g iv e n
up
h o p e o f e v e r r e t u r n i n g t o C u b a a n d is
b e c o m in g a U n ite d
sa id
th a t
Cubans
U n ite d
S ta tes
C a stro
to o k
can
fe a tu r e s
w o r k i n g in t h e N e v a d a
M r.
ta k e
A m e r ic a n s
over
A t th e
and
over,
go
S ta te s
c o u ld
r e m a in
but
if
c itiz e n .
com e
fr e e
ask ed
th e
to
He
th e
w hen
“W h ere
c o m m u n is ts
h e r e .”
G r o u p 3 m e e tin g , a lw a y s
an
RECORD CROWD of 866 at Gr. 3 was reported by Mark Arneson, pres., Clear Lake Bk. & Tr. Mr. and Mrs. Arneson are
shown standing at left. Seated are Jim Pullman, Jr., v.p. of
IBA and pres., Fremont Co. Natl., Sidney, and Frank Warner,
secy, of IBA. CENTER— Variety show at Gr. 3 featured Dor
othy Shay and other top entertainers. RIGHT— Gr. 3 officers are
John McWhirter, pres., St. Bk. of Allison, newly elected secy.;
Ernie Bartik, pres., Corwith St. Bk., outgoing ehmn., and Kermit
Paulson, pres., Northwood St. Bk., newly elected climn.
GROUP 2 meeting in Okoboji was planned by Ken Edge, pres.,
Clay Co. Bankers and cash. Farmers Tr. & Sav. Bk., Spencer,
and R. L. Davison, Gr. ehmn. and pres., First Natl., Clarion,
shown at left. CENTER—Francis Shadle, pres., Iowa Tr. &
Sav. Bk., Estkerville. made motion that Gr. 2 back candidacy
of pres. Iowa Bkrs. Assn, of L. E. Ballou, pres,. Sec. Tr. & Sav.,
Storm Lake G. D. Setzler, exec. v.p. & cash., Peterson St. Bk.
and Frank Snider, v.p., Clay Co. Natl., Spencer, seconded the
motion. RIGHT—W. P. Ronan, pres., Decorah St. Bk. spoke on
bank earnings at Gr. 2.
N o rthw estern
Banker, June,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
109
o u ts ta n d in g
e v e n t,
added
a ttr a c tio n s
in c lu d e d E n te r t a in e r D o r o th y S h a y , a
sta g e s h o w a n d a d an ce.
T h e G roup 2
m e e t i n g fe a t u r e d , in a d d itio n to th o s e
.*
on
th e
program
d is c u s s io n
of
P r o b le m s
and
at
o th er
“Bank
m e e tin g s ,
a
D ir e c to r s — T h e ir
R e s p o n s ib ilitie s ”
by
75th Anniversary
The
C e d a r F a lls
b a n d is v i c e p r e s i d e n t o f t h e b a n k .
T ru st and
S a v in g s
B a n k o b s e r v e d it s 7 5 t h a n n i v e r s a r y r e
c e n tly .
fo r
No
th e
s p e c ia l
o c c a sio n
b ra te d
w hen
p la n s
s in c e
it
m oved
w ere
th e
m ade
bank
in to
c e le
it s
new
End.
r i t y N a t i o n a l B a n k , S i o u x C i t y .—
The
W egm an
S a v in g s
been
in te r e s ts
Bank,
in
th e
C iti
A n am osa,
have
s o ld to L e s t e r B u r e s h , p r e s id e n t
> o f th e F a r m e r s S a v in g s B a n k
te lle
and
M ount
V ernon
in M a r -
im p le m e n t
d e a l e r ; E r n e s t B u r e s h , t r u s t o f f ic e r o f
th e
M erch a n ts
R a p id s , a n d
non
In su ra n ce
L e ste r
fro m
p a rtm e n t
if
to
m ove
Bank.
No Transit Numbers
For Bank Offices
The
dow n
sta te
th e
b a n k in g
id e a
board
o f g iv in g
b e r s to b a n k i n g o f f ic e s f o r
K . S. Paulson
te re d
banks
d u r in g
its
tu r n e d
tr a n s it n u m
sta te
r e g u la r
ch ar
m e e t
C edar
S. P a u ls o n , 92, fo u n d e r a n d p r e s i in g la s t m o n th .
th e F a r m e r s S a v in g s B a n k ,
U n d e r F e d a u to m a tic s o r tin g p r o c e
J o ic e , d ie d a t h is h o m e la s t m o n th f o l
d u r e , i t e m s w i l l c o n t i n u e to b e s e n t
dent
of
lo w in g a str o k e .
M r.
1899,
P a u ls o n
th e
year
to
sta rte d
th e
th e
to w n
bank
w as
e sta b
lis h e d .
A
d a u g h te r,
th e m a in b a n k .
in
W all Lake Opening
The
M rs.
R.
s o n , is a s s i s t a n t c a s h i e r
M.
and
C h r is tia n
her
h u s
open
tie s
W a ll
h ou se
la s t
Lake
in
S a v in g s
its n e w
Bank
h e ld
b a n k in g fa c ili
m o n th .
a g e n t.
r e c e iv e d
th e
Io w a
m ove
A n am osa.
th e
Bank,
M o r r is e y , M o u n t V e r
B u resh
« r e c e n tly
in to
N a tio n a l
A1
S ta te
K.
Anamosa Bank Sold
zens
w ood
q u a rters.
, T h o m a s C . H o r n , v ic e p r e s id e n t, S e c u
A
s o n , K e r m i t , is p r e s i d e n t o f t h e N o r t h -
th e
It
w ill
is
p e r m is s io n
B a n k in g
M a r te lle
not
ta k e
yet
p la c e
de
bank
know n
in
v ie w
o f th e p u rch ase.
Joins Rolfe Bank
-*
D on
Shoem aker
has
r e s ig n e d
c a s h ie r o f th e C e n tr a l T r u s t
&
as
S a v in g s
B a n k in C h e r o k e e to a c c e p t a p o s it io n
a s c a s h ie r o f th e R o lfe S ta te B a n k .
M r.
Shoem aker
C e n tra l
years.
* w ith
T ru st
P r e v io u s
th e
fo u r y e a rs.
C o lle g e
in
has
fo r
been
th r e e
to
th is
C h erok ee
C ity ,
th e
o n e -h a lf
jo b ,
S ta te
H e a tte n d e d
S io u x
w ith
and
he
w as
Bank
fo r
M o r n in g s id e
and
he
is
a
n a tiv e o f S h e n a n d o a h Io w a .
Plan Readlyn Opening
O p e n h o u s e w i l l b e h e ld i n t h e n e w
ly
r e m o d e le d b a n k in g
q u a rte r s o f th e
„ R e a d ly n S a v in g s B a n k o n J u n e 14, a c
c o r d in g
to
A ug.
F.
M e y e r h o ff,
p r e s i
d en t.
. 1#1#/ . 1. E* R . T e x ts
COMPLETE SET of American In
stitute of Banking textbooks have
been purchased recently by the Toy
National Bank in Sioux City. The
books will be available to interest
ed bankers in the Siouxland area.
Ronald Will, assistant cashier at
the Toy National Bank, is shown as
he points out an article found in
one of the new texts to Miss Mary
Lee Brown, secretary.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Northwestern
Banker. June,
Ì 963
Iowa News
110
Earl C. Fishbaugh
E arl
C.
F ish b a u g h ,
83,
fo u n d e r
of
th e S e c u r ity T r u s t a n d S a v in g s B a n k ,
fo r m e r sta te se n a to r, a n d R o b e r t F is h
has
b a u g h , e x e c u tiv e v ic e p r e s id e n t o f th e
th e b a n k .
bank
A
of
Heads Dunkerton Office
illn e s s .
S.
b a n k e r f o r 61 y e a r s a n d p r e s id e n t
The
S e c u r ity
T ru st
and
S a v in g s
of
th e
c o n tr o llin g
in t e r e s t
in
M r. R ig g s h a s b e e n w ith th e T in g le y
S e c u r ity B a n k , S h e n a n d o a h .
S h e n a n d o a h , d ie d r e c e n t ly a ft e r a n e x
te n d ed
p u rch ased
fo r
b a n k in g
10
years.
c a r e e r in
He
sta rte d
h is
1946.
A . R u s ta d h a s re tire d as m a n a g e r
D u n k e rto n
o ffic e
of
th e
P eo
Joins Cedar Falls Bank
B a n k f o r 5 4 y e a r s , M r . F i s h b a u g h , S r .,
p le s S a v in g s B a n k o f W a t e r l o o . C la u d e
had
S to n e o f O e lw e in w ill b e th e n e w m a n
b e e n a p p o in te d m a n a g e r o f th e in s ta ll
ager.
m ent
in
lo n g
been
an
th e c o m m e r c e
o u ts ta n d in g
and
fig u r e
b u s in e s s
in
th e
M odern
m id w e s t.
M r.
F is h b a u g h
served
b a n k in g b o a rd fr o m
M r.
w ife ,
F is h b a u g h
Ire n e ,
and
is
on
1928 to
th e
S to n e
B u s in e s s
w as
p r e s id e n t
E q u ip m e n t
of
Com
pany.
son s,
by
E arl
C.
lo a n
M organ ,
W a te r lo o ,
d ep a rtm e n t
N a tio n a l B a n k ,
Cedar
of
has *
th e
F a lls .
F ir s t
He
w as
f o r m e r ly e m p lo y e d b y W h e e le r M o to r
C o m p a n y in W a t e r l o o .
1932.
s u r v iv e d
tw o
sta te
M r.
M a r v in
h is
Buys Tingley Bank
C a rl R ig g s , e x e c u tiv e v ic e p r e s id e n t
C.
F i s h b a u g h , J r ., a t t o r n e y , S h e n a n d o a h ,
of
th e
T in g le y
S ta te
S a v in g s
To Head Leon Bank
Bank,
K e ith
id e n t
R ic h a r d , e x e c u tiv e
of
The
D e c a tu r
v ic e
p res
C o u n ty
S ta te
B a n k a t L e o n , r e c e n tly a n n o u n c e d th e
a p p o in tm e n t o f H e r m a n H . H a r v e y o f
D a lla s
C e n te r
as
d ir e c to r o f T h e
Bank
and
A lic e
A k es.
v ic e
p r e s id e n t
D e c a tu r
th e
C o u n ty
r e s ig n a tio n
and
S ta te
of
M is s #
M r. H a r v e y w a s m o r e r e c e n tly a sso
c ia te d
w ith
th e
B ren to n
S ta te
Bank
a t D a lla s C e n te r a s v ic e p r e s id e n t a n d
secon d
cept
o f f ic e r .
th e
C o u n ty
He
p o s itio n
S ta te
is r e s i g n i n g t o
w ith
The
ac
D e c a tu r
t~
Bank.
M is s A k e s w ill jo in th e s ta ff o f th e
Iow a
B an kers
A s s o c ia tio n
as
o f J u ly
15.
G. M. Barnett
G.
M.
board
B a rn e tt,
of
th e
c h a ir m a n
G u th r ie
of
th e
C o u n ty
S ta te
*
B a n k , G u t h r ie C e n te r , d ie d la s t m o n t h .
H i s s o n , G . M . B a r n e t t , J r ., is p r e s i
d e n t o f th e b a n k .
New Summer Hours
B u r lin g to n b a n k e r s a re n o w o b s e r v
in g
sum m er
h ou rs,
and
th e
s c h e d u le
w ill c o n tin u e u n til N o v e m b e r
1.
H o u r s o f 9 a .m . t o 2 :3 0 p .m . w i l l b e 1*
All the usual services
ob served
on
M on d ays,
T u esdays,
T h u r s d a y s a n d F r id a y s .
W e d n e s d a y a n d S a tu r d a y h o u r s w ill
provided for correspondents . . . and a desire to per
form them well enough to deserve your patronage and
good will. Call us about participations and cattle or
grain overlines. Let us act as your depository. Our
years of correspondent experience will help you serve
customers better.
be
9 a .m . t o n o o n .
Joins Atlantic Bank
H o m e r L y le , 32, h a s r e s ig n e d a s a s - '
s is ta n t
v ic e
spondent
C om m erce
C ity , to
in
th e
d e p a rtm e n t
T ru st
jo in
as v ic e
He
p r e s id e n t
bank
th e
Com pany,
A tla n tic
corre
of
th e
K an sas
S ta te
Bank
p r e sid e n t.
is
a
n a tiv e
of
M a itla n d ,
M o .,,
w h e r e h is fa th e r , H . A . L y le , h a s b e e n
in
th e
b a n k in g
b u s in e s s
fo r
m any
years.
Clinton Bank Expands
P la n s
fo r
a
m o d e r n iz a tio n
S ta te
$ 3 0 0 ,0 0 0
p rogram
S a v in g s
Bank,
e x p a n s io n
at
th e
C lin to n ,
and
Iow a.
have
b e e n a n n o u n c e d b y L y le J. S to te sb e r y ,
p r e sid e n t.
The
H orthw estern
Banker, June,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1 96 3
bank
has
p u rch ased
th e
p rop-
e rty
to
th e
b u ild in g ,
to rn
dow n
sto ry
east
and
of
th e
th a t
p resen t
b u ild in g
a n d r e p la c e d w ith
stru ctu re
to
m a tc h
bank
w ill
be
a th re e-
th e
p resen t
q u a rters.
Two Moorhead Bankers
^ Active for 107 Years
F ifty
D.
years ago, June
13, 1 91 3 , E a r l
P r a tt, a g r a d u a te o f K in g s le y , Io w a ,
h ig h
s c h o o l,
S ta te
Bank,
jo in e d
bookkeeper.
P ra tt
y th e
is
M oorhead
Io w a ,
as
a
N o w , 50 y e a r s la te r , M r.
e x e c u tiv e
sam e
th e
M oorhead,
v ic e
p r e s id e n t
of
bank.
O n A p r il 2, 1919, M r . P r a tt w a s m a d e
C. E. MOORHEAD
a ssista n t
bank.
E. D. PRATT
c a sh ie r
of
th e
M oorhead
H e b e c a m e a d ir e c to r o n J a n u
a r y 2. 1 9 4 6 ; c a s h i e r o n J a n u a r y 2. 1 9 5 3 ,
and
e x e c u tiv e
v ic e
p r e sid e n t
on
Au-
, g u s t 9, 1 9 5 7 .
M em bers
w iv e s
sary
of
are
d in n e r
The
bank
g i ft
in
th e
bank
p la n n in g
in
and
a g o ld e n
honor
of
w ill p r e s e n t
r e c o g n itio n
M r.
h im
of
th e ir
a n n iv e r
P ra tt.
a s u ita b le
h is
lo n g
and
fa ith fu l se r v ic e .
C.
E.
M oorhead,
M oorhead
S ta te
p r e s id e n t
Bank,
now
of
91
th e
years
» o f a g e . is c e l e b r a t i n g 5 7 y e a r s o f a s s o
c ia tio n
a
w ith
d ir e c to r
w as
th e
on
e le c t e d
bank.
He
F ebru ary
v ic e
3,
becam e
1906,
p r e s id e n t
th e
head
w as
►t w o
ra te d
A p r il
bank
s in c e
10.
in s ta lla tio n
p r e sid e n t.
M oorhead
p r e s id e n ts
p la n n in g t o
sam e
O n N o v e m b e r 1, 1 9 1 7 , M r . M o o r
m ade
fro m
s e r v ic e . . .
and
day.
The
C o m p le te
has
it
1900.
had
w as
John
o n ly
in c o r p o
B.
LeF eb u re
Safe Deposit Boxes
M oor
h e a d , f a t h e r o f C . 12. M o o r h e a d , o r g a n
iz e d
'
th e
bank
and
w as
it s
f ir s t p r e s i -
d en t.
H e w a s th e fo u n d e r o f th e to w n
w h ic h
bears
Manufactured to meet the highest industry standards, LeFebure safe
deposit boxes are available in a wide selection of standard units, plus
h is n a m e .
„ Fort Dodge Remodeling
P la n s
has
been
special sections when required.
ann ounced
fo r
a
c o m p le t e r e m o d e lin g a n d e n la r g e m e n t
of
*
th e
F ort
D odge
C o n tra c t
fo r
aw arded,
a c c o r d in g
th e
N a tio n a l
p r o je c t
to
F.
has
C.
Bank.
been
M o e lle r ,
LeFebure offers a complete planning-to-installation service, including bases,
end panels, cornices and trim sections, that are made to match and fit
any vault interior.
The efficient, LeFebure Vault Entry System, now in
use by many banks, is available as part of our planning service.
p r e s id e n t.
»
A
th e
new
secon d
b u ild in g
f lo o r
w ill b e
w ill
be
c o n str u c te d ,
w id e n e d
and
a
Call in your LeFebure representative for complete details, or write
for
information.
fro n t added.
P la n s
fo r
th e
w ork
w ere
p rep ared
b y i he K ir k G r o s s C o m p a n y o f W a t e r -
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
L e F e b u re Corporation
Cedar Rapids, Iowa
Subsidiary of Craig Systems, Inc.
T h e m ost c om ple te line of fina ncial services and e q u ip m e n t from one relia ble source
Iowa News
112
lo o .
C o n t r a c t s c a ll f o r m o v i n g
b a n k e n tr a n ce fr o m
w a ln u t
o f th e
new
th e c e n te r o f th e
p a n e lin g .
lo u n g e
b u ild in g to th e e x tr e m e n o r th c o rn e r.
p lo y e e s .
A
th e
new
fro n t
w ill
be
g r a n ite
w ith
v e r tic a l
c o n stru c te d
of
fo r
A
secon d
In c lu d e d
w ill
cu sto m e rs
la d ie s ’ lo u n g e w ill b e
f lo o r .
A
a
T h e p u b lic fu n d s b ill e n a c t e d in th e
em
6 0 th g e n e r a l a s s e m b ly o f th e Io w a le g
be
and
c o m p le te ly
on
new
is la tu r e ,
ju s t
c o n c lu d e d ,
a u th o r iz e s
a n y c o u n ty , c ity , to w n o r s c h o o l c o r p o
g o ld
h e a t i n g a n d a ir c o n d i t io n in g p la n t w ill
r a tio n to in v e s t fu n d s n o t im m e d ia t e ly
a n o d iz e d a lu n in u m a n d a n e w e x te r io r
b e in s t a lle d a n d r e c e s s e d c e ilin g lig h t s
n e e d e d fo r c u r r e n t o p e r a tin g e x p e n s e s
s ig n w ill b e in s t a lle d .
w ill
in
tr im
of
n o rth
w a ll
to
th e
a d ja c e n t b u ild in g .
so u th
w a ll
of
c a r p e te d a n d c o u n te r s w ill b e
m oved
to
bank.
c a te d
o p p o s ite
sid e
of
a
la r g e
to
p e r m it
The
th e
tio n a l s a f e t y d e p o s it b o x e s .
f lo o r m a i n
th e
m a in
of
a d d i
The
fir s t
tim e
c e r tific a te s
cu rren t
m a x im u m
m ore
ra te
of
in
p o s it
sav
la w
sp e c ifie s
banks
d e c li n e
th e
p u b lic
th a t
th e
fu n d s,
if
tw o
or
to
de
o ffe r
th e n
th e
gov
e r n m e n ta l u n it m a y in v e s t su c h fu n d s
d e p o site d
in
2Vz
w ith
per
Io w a
banks
ce n t.
T h is
has
r a te
been
is
set
in te n d e n t
of
c o m m is s io n e r ,
b a n k in g ,
and
th e
in s u r a n c e
tre a su re r
of
th e
in t e r e s t -b e a r in g
o r b o n d s o f th e
b y a c o m m itte e c o m p o se d o f th e s u p e r
The
b ill
s p e c ifie s
c e r tific a te s
S ta tes.
th a t
th e
ra te
o fA
l y s h a ll n o t b e le s s t h a n o n e p e r c e n t,
m ore
ren t
th a n
3 per
m a x im u m
w ill
p r e v a il
c e n t.
ra te
u n til
m e e t i n g J u l y 1.
ONE GOOD JOB
n o tes,
U n ite d
in te r e s t s e t b y th e c o m m it te e q u a r te r
nor
sta te .
lo b b y w ill b e d e c o r a te d in
o f d e p o sit o r
in g s a c c o u n ts in I o w a b a n k s .
f lo o r .
t e r e s t t h a t c a n b e p a id o n p u b lic fu n d s
set at
o ffic e r s ’ a r e a .
in s ta lla tio n
secon d
The
T h e s a fe ty d e p o s it v a u lt w ill b e e n
la r g e d
th ro u g h o u t
th e
Set Public Funds Kate
F o u r p r i v a t e o f f ic e s w i l l b e l o
a d jo in in g
u sed
and
an
T h e e n la r g e d lo b b y
w ill b e
th e
be
lo b b y
T h e w id e n in g w ill b r in g th e b a n k ’s
2Vz
of
th e
next
The
cu r
per
cent
q u a r te r ly
In d iv id u a l b a n k s a n d
g o v e r n m e n t a l u n its m a y n e g o tia te a n y
in te r e s t ra te b e tw e e n th e o n e p e r ce n t
2Vz
and
per
cent
lim its
d u r in g
th is
p e r io d .
w in s 3 m o r e f o r
Moves to Clear Lake
KIRK GROSS
•
during the past year and a half Iowa and Nebraska
Bankers, who are planning to remodel and modern
ize, have been visiting the—
College Savings Bank at AMES
C h a r le s
p o s itio n
C le a r L a k e
C ity ,
as v ic e
Bank
to
ac
p r e s id e n t o f
and T ru st C om
pany.
Avenue,
tr a c te d
to
th e
In g e r s o ll
M o in e s ,
b u s in e s s
th e
N a tio n a l B a n k
e a st.
The
25
c o m m u n itie s .
w h ic h
agen cy
p ro p e rty
at 2818
J u ly
at
a d jo in s
M o in e s
be
on
u sed
c e n te r o f th e
are
lo c a te d
in *
D a y a n d C o m p a n y , I n c ., a d
v e r tis in g
in
D ay
w ill
a u to m a tio n
ban ks,
W e s le y
con
th e
p ro p e rty
of D es
b u ild in g
B ren to n
Io w a
has
fr o m
A v e n u e , w h ic h
th e
fo r th e n e w
th e
D es
p u rch ase
C o r p o r a tio n
2818
Randall State Bank at RANDALL
. . .
C om pany,
T h e B r e n to n C o m p a n ie s , 2 84 0 In g e r-
we went 8 miles east to the
then 18 miles north for
th e
s o ll
Nevada National Bank at NEVADA
„ . .
T ru st
ce p t th e
Plan New Automation Center A
This Bank was completely modernized, inside and out, un
der the supervision of Kirk Gross Bank Specialists. The out
come of these visits and the fact that "Good News
Travels Fast"— our Bank Design and Construction Service
was awarded three projects within an 18 mile radius of
Ames . . . these were—
fir s t
R o b e r t V . G r a b in s k i h a s re s ig n e d as
c a s h i e r o f t h e F i r s t S e c u r i t y B a n k a n d ''
to
now
o c c u p y in g
th e
I n g e r s o ll, w ill m o v e
d o w n to w n
o f f ic e s
on
th e
s e c o n d f lo o r o f t h e n e w H o m e F e d e r a l
then back to Ames for the
B u ild in g , 601
G rand
A nnouncem ent
Ames Building and Loan
tr a n s a c tio n
and
A venue.
of
th e
p la n s w a s m a d e
th e
<
rea l
a g e n c y ’s
e sta te
m o v in g
S a tu rd a y b y W . H a r
o ld B r e n t o n , p r e s id e n t o f th e B r e n t o n
Yes, "performance is the proof'
C o m p a n ie s , a n d b y W e s d a y D a y , p r e s
id e n t o f th e
why not get the details "firsthand” write or call
agen cy
a n d th e
a f f ili a t e d
D a y C o r p o r a tio n .
The
B ren to n
»
a u to m a tio n
ce n te r
is
sc h e d u le d to b e g in o p e r a tio n n e x t J a n
uary.
k /R k
/
C
BANK DESIGN
/
r o s s
C
CONSTRUCTION SERVICE
o
.
/
110 EAST SEVENTH STREET . Telephone ADams 4-6641
WATERLOO, IOWA
T h e D a y a g e n c y h a s b e e n lo c a te d at
2818
In g e r s o ll
fo r
e ig h t
p r o p e r t y th e r e is a 60 b y
w ith
tw o
c o n n e c tin g
years.
b u ild in g s .
I n th e n e w H o m e F e d e r a l B u ild in g ,
th e
3 ,0 0 0
agen cy
sq u a re
w ill
le a se
a p p r o x im a te ly
f e e t o f f lo o r s p a c e .
c o m p a n y h a s 15 e m p lo y e e s .
N orthw estern
Banker, June,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1 963
The
1 7 0 f o o t lo t
The
113
in g
tr a in e d
b ir d s
h ig h lig h te d
a
num ber
A
th e
a ll
c o u n tr ie s ,
e v e n t.
A ls o ,
p r iz e s w e r e g iv e n .
* * *
f i v e w e e k p r e m i u m p r o m o t i o n is
b e in g
of
fr o m
tw o -d a y
h e ld
door
at
th e
National Bank.
b e in g
g iv e n
1. O p e n
to
a
A
Iowa-Des Moines
th e rm o s
cu sto m e rs
new
sa v in g s
b o ttle
is
w ho:
accoun t
fo r
$50 or m o re.
2. R e n t a s a fe d e p o s it b o x .
3. A r r a n g e
A
b o o th
fo r
an
is s e t u p
ca rd s are p re se n te d
e n t it le d
to
a
p r e se n t th e se
g ift.
J
PARMENTER,
ACK
b o o k k e e p in g
head
of
d ep a rtm e n t
tr a l N a tio n a l B a n k
&
in s t a llm e n t
lo a n .
in t h e
lo b b y
to
cu sto m e rs
th e rm o s
card s and
th e
b o ttle .
r e c e iv e
and
They
th e ir
(C o n tin u e d o n n e x t p a g e )
th e
at
Cen
T ru st C om pany
severa l years, has
been
e le c t e d
a ssista n t
B.
a c c o r d in g to
Grangaard,
d en t.
an
c a s h ie r ,
C.
p r e s i
M r.
P ar-
m e n t e r w i l l b e in
ch arge
of
d a t a
J. P A R M E N T E R
Bank
of
b e fo r e
D o u g la s
jo in in g
th e
p r o c e s s in g
p roced u re
n o w
b e in g u se d
in th e
d e p a rtm e n t.
He
w as
th e
at
w i t h
P h o e n ix ,
C e n tra l
A r i z .,
N a tio n a l
in
>1951.
*
Rodney
A m e r ic a n
F ir s t
th e
*
fo r m e r ly
of
th e
N a tio n a l o f D e n v e r a n d th e
N a tio n a l
of
P erry,
has
jo in e d
s ta ff o f th e N a t io n a l B a n k o f D e s
M o in e s
as
an
*
o f f ic e r t r a i n e e .
*
*
Frank J. Tamse,
» c a s h ie r
of
Bank,
tio n
of
th e
in
v ic e p r e s id e n t a n d
C a p ita l
th e
and
L o u is v ille ,
board
of
th e
S ta te
conven
A s s o c ia tio n
of
C o m p t r o lle r s
re
K y.
r e c e n tly -e le c t e d
^ M a x w e ll,
C ity
annual
N a tio n a l
A u d ito r s
c e n tly
a
th e
a tte n d e d
Bank
is
*
Dixon,
M r.
m em ber
M a x w e ll
T am se
of
S ta te
th e
Bank,
Iow a.
*
*
*
The First National Bank of West
Des Moines h a s a n n o u n c e d i t w i l l b e
open
on
noon.
are
S a tu rd a y s
M onday
fro m
O pen
9
fr o m
th ro u g h
8 :3 0
a .m .
F r id a y
to
h ou rs
a .m . t o 3 p .m .
*
*
*
h ou se
w as
h e ld
la s t
m o n th
T. C . Hender
son & Company, Incorporated, S i x t h
at th e
and
new
q u a rters
G ran d.
been
years
in
in
The
in v e s tm e n t
o p e r a tio n
D es
of
fo r
fir m
m ore
th a n
has
31
M o in e s .
*
*
*
G r a n d o p e n in g o f th e n e w
Moines National Bank
East Des
in th e E a s t g a t e
S h o p p in g C e n te r w a s h e ld la s t m o n t h .
A
“ B ir d s
of
P rey”
e x h ib itio n ,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
fe a tu r -
Drovers
Correspondent Services
We invite you to
make full use of
SERVING BANKS
CONTINUOUSLY
SINCE 1883
• Investment and
Safekeeping Services
• Loan Participations
• Collections
• Credit Information
• Transit Service
• Complete
Trust Department
• Specialists in Fast
Collection of Shippers
and Packers Items
• Foreign Exchange
• Consultation on
Instalment Lending
• Consultation on
Bank Operations
• Foreign Collections
and Remittances
• Special Services
The Drovers N ational Bank offers complete
correspondent services to banks throughout
the m iddle w est. W e invite you to m ake
full use of the m any specialized services w e
provide our correspondent bank customers.
--------
Drovers National Bank
UNION STOCK YARDS, CHICAGO 9, ILLINOIS
MEMBER, FEDERAL DEPOSIT INSURANCE CORPORATION
N o rthw estern
Banker, June,
1963
114
fowa
News
Les Proctor and Jim Robinette talk to the Women’s Family Finance Forum.
The
la s t
sio n s
of
tio n a l
of
th re e
ses
of
lo w a -D e s
M o in e s
N a
an sw ers.
W o m e n ’s
F orum
w as
a
th e
B a n k ’s
s e r ie s
of
The
bank
s a id
th e se
m e e t
m e e tin g s
fo r
*
The
h e ld la s t m o n t h a t th e H o t e l F o r t D e s
M o in e s .
th e
H ig h la n d
*
q u e s tio n s
*
P ark
S ta te
in g s w e r e n o t o n ly w e ll a tte n d e d b u t
to m a k e
a v a ila b le to its e m p lo y e e s .
The
fir s t
M oney
T h ese
s e s s io n
th e
w as
M a n a g e m e n t”
s u b je c ts
Proctor
w ere
w om en.
on
“ P erson al
and
“ T a x e s .”
h a n d le d
Jim Robinette,
and
by
Les
t r u s t o ffi
The
secon d
“ E sta te
tr u st
s e s s io n
P la n n in g ”
o f f ic e r , s p o k e
w as
and
on
th is
m e n ts” b y
Jim Kempkes,
a ssista n t
fo r
v ic e
v e lo p m e n t,
C o ffe e
Y o u ,”
a ls o a tr u s t
p r e s id e n t,
d is c u s s e d
w as
Jim Rasley,
w h ic h
serv ed
b u s in e s s
w ith
b e fo r e
d e n ta l h e a lth
h e a lth
care
in s u r a n c e
in s u r a n c e
T h e grou p
w as
th e
a n c e C o m p a n y o f D e s M o in e s a w h o lly
ow ned
su b s id ia r y
In v e sto rs
of
G u ard sm an
In -^ -
In c o r p o r a te d .
New Osceola Cashier
each
M a u ric e
been
ses
E.
nam ed
N ic k e l
th e
of
new
C resto n
c a s h ie r
C la r k e C o u n ty S ta te B a n k
has
of
r e s ig n e d
to
m ove
to
in
of
th e
C resto n .
w ith
Iow a
He
th e b a n k
a ssista n t c a sh
S ta te
has
has
C a lifo r n ia .
M r. N ic k e l h a s b e e n
ie r
th e
o f O s c e o la .
H e w ill s u c c e e d R o s s G o u ld , w h o
de
la d ie s .
s io n a n d tim e w a s a llo w e d a t th e e n d
S a v in g s
been
Bank
a sso c ia te d
fo r th re e y e a r s .
Northwestern Banker, June, 1963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
*
u n d er
w r itte n b y th e G u a r d s m a n L ife I n s u r
s u b je c t.
o f f ic e r , a n d “ W h a t a C o m m e r c i a l B a n k
Do
r e -*
e n tit le d
Dick Carey,
T h e th ir d s e s s io n d e a lt w ith “ I n v e s t
Can
d en ta l
su ran ce
cers.
Bank
c e n t ly b e c a m e t h e fir s t I o w a b u s in e s s
v e r y w e ll r e c e iv e d
by
and
*■
Iowa News
A.t.Mt. E teri s .H iv e s A w ards
p ie s
N a tio n a l
M a r v in
Bank,
M ilo
D ir e c to r s
are
B lo o m fie ld ,
O r r is ,
W a s h in g to n
te rm
A lb ia ;
s e c re ta ry ,
L o g a n , c a s h ie r , D a v is
S a v in g s
urer,
Bank,
S ta te
C o u n ty
and
a ssista n t
tr e a s
c a s h ie r ,
B a n k , W a s h in g to n .
e le c t e d
M a r tin
115
fo r
th e
R oggen,
1 9 6 3 -6 4
e x e c u tiv e
v ic e p r e s id e n t, F id e lit y S a v in g s B a n k ,
O ttu m w a ;
Jam es
F ir s t
N a tio n a l
Long,
F id e lity
w a,
and
W .
Bank,
H e ilm a n ,
S ta te
c a s h ie r ,
F a ir fie ld ;
S a v in g s
Logan
W a s h in g to n
T u rn er,
Bank,
J.
T.
O ttu m
c a s h ie r ,
B a n k , W a s h in g to n .
New Waukon Director
C la r e F . D u g g a n h a s b e e n n a m e d a s
a d ir e c to r o f th e W a u k o n
r e p la c in g
NEWLY ELECTED OFFICERS of the Des Moines A.I.B. Chapter were named at the
annual Spring Dinner-Dance last month. They are, from left, Chauncey Petersen,
Valley Bank & Trust, second vice president; John Kern, a.c., Highland Park State, first
^vice president; Gene Riley, Bankers Trust, president; Mrs. Carol Van Gorp, Iowa-Des
Moines National, women’s chairman, Betty Bingman, Bankers Trust, secretary; Lewis
C. Cobb, Jr., tr. off., Iowa-Des Moines National, past president, and Dewey Tullis, a.c.,
Central National Bank & Trust, treasurer.
I
N
A D D IT IO N
f ic e r s ,
M o in e s
C h a p ter
s titu te
of
aw ards
dance
th e
to th e
s h o w n
of
B a n k in g
at
its
la s t
e le c t io n
above,
th e
annual
D es
A m e r ic a n
p re se n te d
m o n th .
of o f
th e
In
sev era l
s p r in g
w ent
to
fo llo w in g :
P r e -s ta n d a r d C e r tific a te s — M r s . J u d y
P e te rso n , V a lle y
Bank
&
T ru st;
W illa r d
&
D a n n , C e n tr a l N a tio n a l
Bank
T r u s t , a n d C h a r le s D o o r m a n , P e r r y
S ta n d a rd
H o is te d ,
C e r tific a te s —
C e n tra l
M rs.
N a tio n a l
M ary
Bank
&
T r u s t , a n d G e n e R ile y , B a n k e r s T r u s t.
F ifty
G rad es
D o lla r s
in
C ash
Two
„ C o u rtn e y ,
fo r
H ig h e s t
C la s s e s — M r s .
V a lle y
&
Bank
Judy
T ru st,
tio n a l.
T w e n t y -fiv e
C la s s
N a tio n a l
D o lla r s
C ash
G rad es — M rs.
Bank
of
D es
fo r
H ig h
Joann
F is h ,
M o in e s ;
M rs.
J e a n n e M a r tin , N o r t h w e s t D e s M o in e s
^ N a tio n a l
Bank;
N a tio n a l
M e r lin
L an d ers,
&
Bank
C h a r le s D o o r m a n , P e r r y
T ru st,
Cen
and
S ta te B a n k .
Kandall W ork Complete
A
r e m o d e lin g p r o je c t h a s b e e n c o m
p le te d a t th e R a n d a ll S ta te B a n k , R a n |w d a ll,
Io w a .
b u ild in g
w as
The
w as
G ross
second
rem oved,
c o n stru c te d
at
th e
ACORN
f lo o r
an
rear
of
th e
a d d itio n
of
Registers
"Accepted Sale Registers by Bank
Clerks Everywhere"
For information write
THE AC O R N PRINTING CO.
Oakland, Iowa
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
th e
C om pany,
W a te r lo o ,
p r o je c t .
NABAC Group Elects
B a x te r R . S m ith , a s s is ta n t v ic e p r e s
id e n t, U n io n
O ttu m w a ,
o f th e
Bank &
has
been
S o u th e a ste rn
NABAC,
Io w a
s u c c e e d in g
H o u se , fo r m e r ly
d en t o f th e
T ru st C om pany,
e le c t e d
p r e s id e n t
C o n fe r e n c e
Eugene
e x e c u tiv e
v ic e
S a v in g s
Bank,
S ta te
F.
p r e s i
Can-
t r i l.
O th er
o f f ic e r s
are
v ic e
p r e sid e n t,
R o b e r t B u llo c k , a s s is ta n t c a s h ie r , P e o -
th e
THE FARM PICTURE
SELLS . . .
and
R o g e r M a h o n e y , I o w a -D e s M o in e s N a
tra l
O p e n i n g is p l a n n e d f o r l a t e in J u l y .
K ir k
of
S ta te .
est
p r i v a t e o f f ic e s a n d a n e w b o o k k e e p i n g
ro om .
E arl
^ F r e e l a n d G e n e R ile y , B a n k e r s T r u s t;
^
OF OUTSTANDING BANKERS
n it y r o o m w a s a d d e d , a lo n g w ith n e w
p la n n e d
C o u rtn e y , R o b e rt B a b b a n d C h a u n c e y
OUTSTANDING CHOICE
WW
S ta te B a n k ,
G . B . R ic h te r .
b u ild in g , a n e w d ir e c to r s ’ a n d c o m m u
d in n e r -
A w ard s
Judge
Hom e & G a rd e n —
Real Pleasures
If You "Know How"
If you've conquered drippy faucets;
graciously accepted guests’ compli
ments on your roses; saluted a $50
drop in your fuel bills, you know that
good “know-how” feeling — the same
feeling readers of Doane's “ Home and
Garden Care” have.
Winning Friends
Is Profitable
It is pleasant to send advertising
messages that prospects appreciate.
Banks everywhere build good will
among depositors and borrowers with
monthly “ Home and Garden Care.”
Timely, practical advice on how to
beautify the home, save money on
upkeep, get the most from tax and
insurance dollars. Exclusive in your
area.
Write For An
Introductory Copy
DOANE
isasFssp
5144 Delmar Blvd.
St. Louis 8, Mo.
Full Service Banking . . .
Your Bank . . .
YOU . . .
Get full PR Power with your public
relations and advertising dollars. Send
the whole FARM PICTURE— 4-pages
of farm outlook, management, income
tax guides, estate planning and much,
much more— PLUS a banker’s point
of view! Let your farm customers see
a copy of THE FARM PICTURE and
they will tell you how you can invest
your budget to best advantage.
Write for the PR Power brochure.
It tells all about the Preference Rat
ing SURVEYS and how you can give
your farm customers a chance to tell
you how much more they would appre
ciate the whole FARM PICTURE.
Every heading is especially designed
to carry the good image of your bank
to your customers. Sold on an exclu
sive territory basis. Complete address
ing and mailing service available.
the FARM PICTURE
DEPT. 37, P. O. BOX 221, URBANA, ILLINOIS
Northwestern Banker, June, 1963
116
W inter W inds
One
of
th o se
w a s r a g in g
w as
hard
and
s t a lle d
Iow a
b liz z a r d s
a r a ilr o a d lo c o m o t iv e
by
th e
sn ow .
A
s e c tio n
fo r e m a n s tr u g g le d u p to th e e n g in e e r ,
w ho
w as
b e a tin g
“ H i,
s ta n d in g
h is
arm s
T o m ,”
“ W h e r e ’s
c a ll e d
your
“ H e ’s u p
e n g in e e r .
in
b e sid e
across
th e
h is
th e
tr a c k
by
a
p ie c e
of
fly in g
th e
ic e .
H e tr ie d to
c ir c u m s ta n c e s
w onder
th a t
about
p ro m p ted
I ’ll l o o k
th a t
is a b o o k
on
q u ite
it u p .”
book
you
are
con
th e
“ W h a t w ill y o u
ask ed
c h a r g e to p a in t m y
a m an
p ly “ G ood L ord!
tra d e
saxophone
in d e x
fin g e r .
in
c o u n tin g
p o l i c e m e n ,”
r e p lie d
“H ow
m any
d id
you
c o u n t?”
“W e ll,
*
and
I w o u ld n ’t p a y M ic h e l
t h a t ’ll
save
F ran k
y o u r s e lf
p a id
h im
P ay
som e
cou rt
. . . and
th e
th e
jo b
fo l
o f t h e u n i o n !”
fo r
le s s ,
he
is
a in ’t n o
ta k in g
now
c o s t s .”
a fte r
th e
th r o u g h
“ I su re p u t o n e o v e r on h im .
c o u n te d
th e
th e
I r e a lly
1 6 !”
*
m em ber
They're Cheaper There
M rs.
W hat
aw ay
it
c r o w d , h e w ip e d h is b r o w a n d la u g h e d ,
Ita lia n
s lip p e d
$10.
ow n er.
“ if th a t
had
be
a n g e l o t h a t p r i c e ,” e x c l a i m e d t h e b o a t
p a in te r ,
in
h is
c o u n tin g , M a c ? ”
guy
th e
cow .
pa
“ T e n .”
o f a p a in te r .
5 Cent Philosophy
case fo r fre sh
w ith
are y o u
th e
sta r te d c o u n tin g
th e n u t.
“ T w e l v e d o lla r s a d a y ,” w a s t h e r e
paper:
W A N T E D — To
w a tc h e d
to h im .
lo w in g a d to b e r u n in a B o o n e , I o w a ,
fa n c y
v is ib ly
“W h at
“ I ’m
b o a t?”
F ran k
q u ir e d a s lic k c o n a r tis t s ta n d in g n e x t
m y t h o lo g y .”
“ W e l l , I t e l l y o u o n e t h i n g ” d e c la r e d
Curious Exchange
a lw a y s
son ,
papa,
A n Open Shop
fir e m a n ? ”
s p it a g a in s t t h e w i n d .”
sh a ll
s u ltin g
fo re m a n .
t h e c a b ,” a n s w e r e d
S e r v e s h im r ig h t, I g u e ss.
W e
“ W a it,
“But
S c r e w b a ll
rad e g o b y an d th e n
cra t?”
“ I k n o w , s o n , I k n o w .”
c h e st.
“Poor g u y got knocked u n
c o n s c io u s
N ot So Dumb!
Current Myths
“ P a p a , w h a t ’s a c o n s e r v a t i v e D e m o
5 -c e n t
c ig a r
g o o d c o u n t r y .— E d
B row n:
W henever
I ’m
dow n
in th e d u m p s , I g e t m y s e l f a n e w h a t.
needs
is
a
M rs.
w here
W ynn.
Jon es:
you
“ I ’v e
o fte n
w ondered
g o t th e m .
O
E
Em ployers M utual C asualty Co.................
28
Omaha National Bank
................................ 93
F
JUNE, 1963
A
Acorn Printing- Company ............................ 115
A ll M akes Office Equipm ent Com pany. . 26
A lliso n -W illia m s Company ...................... 60
Am erican E xpress Company .................... 49
A shw ell and Company ..................................
5
B
Bank of Am erica ........................................... 30
Bank Building and Equipm ent C orp .. . 27
Bank of M ontreal ........................................ 63
Bankers Trust Co.— Des Moines ...............10
Bankers Trust Company— New Y o r k .. 55
C
Central N ational Bank and Trust
Company— Des M oines ........................... 20
Central N ational Insurance G r o u p .... 54
Central States H ealth and Life Co. . ..1 1 7
Chase M anhattan Bank, The .................. 23
Chemical Bank New Y ork T ru st C o .... 25
Chiles & Company ........................................ 92
Christm as Club a Corporation ................ 15
City National Bank and Trust
Company— Kansas, City ........................... 91
Colorado National Bank ............................. 81
Commerce Trust Company ........................107
Continental Illinois National Bank
& T ru st Co........................................................ 19
Cum m ins-Chicago Corporation .............. 48
D
Davenport, P. E., Company ....................... 44
Deer Lodge Bank and Trust Co............... 76
DeLuxe Check Printers, Inc........................ 10
Diebold, Inc.......................................................... 41
Doane A gricu ltu ral Services, Inc........... 115
Downey, C. L., Company ........................... 18
Drovers National Bank .............................. 113
Northwestern Banker, June, 7963
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Farm Business Council Inc..........................115
F irst N ational B ank— B illings, M o n t... 7 6
F irst N ational B ank— K ansas C i t y . . . . 22
F irst National Bank— M inneapolis . . . 59
F irst N ational B ank— Omaha ................ 85
F irst N ational Bank in St. Louis ......... 53
F irst National B ank— Sioux City .......... 110
F irst National Bank— Thermopolis,
W y o m in g ........................................................ 78
F irst National Bank and Trust
Company— Lincoln .................................... 97
F irst N ational City Bank of New Y ork 17
F irst Nebraska Securities, Inc.................. 98
G
Gross, K irk, Company
.................................112
11
H arris Trust and Savings Bank
.........
13
P
Paine, W ebber, Jackson & C u rtis......... 24
P eco-M cClintock Corporation ................ 11
R
Recordak Corporation ..................................
4
*
S
St. Paul Insurance Companies ............. 62
St. Paul Term inal W arehouse C o r p ....
6
Security T rust and Savings B a n k B illings, M ont................................................. 75
Smith, Polian and Company .................... 94
Stock Growers National Bank—
Cheyenne, W y o m in g ................................ 79
Stock Yards National Bank-O m aha . . 89
Studley, Shupert T rust Investm ent
Council ...............................................
12-50^,
I
Iew a-D e s Moines N ational Bank .......... 118
Irvin g Trust Company ................................
9
L
L a Monte, George & Son ........................... 51
Lawrence W arehouse Company .............. 37
Le Febure Corporation ................................ I l l
Live Stock N ational Bank— C h ic a g o ... 29
Live Stock National Bank— Sioux City 64
>1
M arquette National Bank ..........................105
M astertapes Music Inc.................................. 39
M erchants N ational Bank .........................
2
Midland N ational Bank ............................. 56
M innesota Commercial M en’s Assn. . . 61
M osler Safe C o m p a n y ............................. 45-46
T
Talcott, James, Inc..........................................
8
Tension Envelope Corporation .............. 47
T V Bank Corporation .................................. 48
XT
Union Bank and Trust Company—
H elena, M ontana ........................................ 75
United States Check Book C om pany. . . 102t~
United States N ational Bank— O m a h a .. 82
V
V a lley Bank and Trust Company—
Des Moines .....................................................103
V alley N ational Bank of Arizona ......... 16
N
National Bank of Commerce
Trust and Savings .................................... 87
National Bank of South D akota, T h e .. 69
N ational Bank of W aterlo o ..................... 109
National Boulevard Bank of C h ic a g o .. 52
National Cash R egister Company . . . .
7
Nebraska Neon Sign Company .............. 99
Northern Trust Company ...........................
3
Northw estern National B ank—
Sioux F alls, S. D .......................................... 67
\\
W estern and Southern L ife Ins. C o ... 16
Y
Y ellow stone Banks, The .............................
/
Ziegler, B. C., and Company
..................
74
12
■*
reports E. M. Porter, President
Farmers Bank, Bowling Green, Mo,
“ We 'feel good’ about offering the Bank-Health Plan, because our
customers are appreciative of this insurance protection.”
says Mr. Porter.
“ Two years ago, before we got into Central States’ program
we were surprised to learn that so few of our depositors
were covered by health insurance. We saw a definite
need for this type of insurance so we installed the
Bank-Health Plan in our bank for them.
“ It has fulfilled that need so much so that we
recommended it to several of our banker friends
here in Missouri,” he added.
Bank-Health will protect. . . and please your
customers, too. Courteous Central States
representatives explain it to your
customers and obtain authorizations for
checking account deductions. You
deduct premiums monthly, send us one
check, and retain a substantial fee for
your service. Streamlined forms simplify
your accounting. Write, wire or
phone for complete details.
Ce n t r a l States
H e a l t h &L if e C o
of Om aha
T. LESLIE KIZER, President
CENTRAL STATES INSURANCE BUILDING
HOWARD AT 18TH STREET • OMAHA
UNDERWRITING EXCLUSIVELY THROUGH FINANCIAL INSTITUTIONS
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
write
» or
call...
«
Municipal Bond Service: always a little faster
Yes, the Municipal specialists in our Bond Department are
always willing to help any and all of you with your bond problems.
These specialists are well qualified to analyze and evaluate
your present bond holdings, and will be glad to help you plan
for future investments.
Our Bond Department offers Municipal and Government
Bonds for sale. We provide for the safekeeping of these
valuable securities.
Evaluation, planning and safekeeping .. .these are the three
key words in our Bond Department. And remember, too, our
team of correspondent bankers is always ready, willing and
able to help. Just write, wire or phone us.
CORRESPONDENT
BANK DEPARTMENT
Jerry Nelson — Vice President George Harnagel —Asst.Vice President
Bob Buenneke —Asst. Vice President
*
Ben Gilders — Asst. Cashier
John Hunt—Asst. Cashier
W e're here to help y o u get what y o u want
Io w a -De s M o i n e s •National Bank
Sixth and Walnut, Des Moines, Iowa • CH 3-1191
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Member Federal Deposit Insurance Corporation
@FedFRASER