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T W E N T IE T H Y E AR
11 Northwestern National Life Insurance Co.
MINNEAPOLIS, MINN.
JOHN
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A
PURELY
T.
MUTUAL,
BAXTER,
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P r e sid e n t
OLD-LINE,
I — Hanover
National
Bank
WESTERN
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Established 1851
¡1 Capital
•
$3,000,000
11 Surplus and Profits 15,000,000
I .......... i...................... ........
W.
A.
T.
B.
L.
F.
A.
A.
D irectors
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DECKER, Pres. Northwestern National Bank
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CHAMBERLAIN, Pres. Security Nat’l Bank
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«TAFPRAY, Vice-Pres. First Nat’l Bank
§§
JANNEY. Pres. Farmers & Mechanics Bank
||
CARPENTER, Shevlin-Carpenter Clarke Co.
||
NELSON, Pres. Hennepin Paper Co.
||
CRANE, Vice-Pres. First National Bank
¡¡
LATTA, Vice-Pres. Northwestern Nat’l Bank
|¡
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The National City Bank I
OF CHICAGO
OF THE CIT Y OF N E W Y O R K
Nassau and Pine Streets
W IL L IA M W O O D W A R D .-.P resid en t
E. H A Y W A R D F E R R Y .......... V .-P res.
H E N R Y R. C A R SE ................... V .-P re s.
SA M U E L W O O L V E R T O N ......V .-P res.
E L M E R E. W H IT T A K E R ......Cashier
W M . I. L IG H T H IP E ............A sst. Cash.
A L E X . D. C A M B E L L ........ A sst. Cash.
CHAS. H. H A M P T O N ____ A sst. Cash.
J. N IE M A N N ........................... A sst. Cash.
W IL L IA M D O N A LD ............ A sst. Cash.
G E OR GE E. L E W I S ............A sst. Cash.
COMPANY
E.
F.
C.
T.
E.
B.
A.
J.
U. S. D EPO SITOR Y
U. S. Depository
Capital
Surplus
11
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T O T A L NUMBER 339
DES MOINES, IO W A , NOVEMBER, 1915
.
.
.
.
.
.
. $ 2,000,000.00 f
.
750,000.00 |
O F F IC E R S
David R. Forgan, President
A lfred L. Baker, V ice-P resident
H. E. Otte, V ice-P resident
F. A. Crandall, V ice-P resident
Robert R. Forgan, V ice-P resident
W alk e r G. M cLaury, Cashier
W . T. Perkins, A sst. Cashier
W . D. Dickey, A sst. Cashier
Henry Meyer, A sst.
Cashier
A. W . M orton, A sst.
Cashier
W m . N. Jarnagin, A sst. Cashier
R. B. Fuessle, A sst. Cashier
Lee A. K in g , Auditor
George L. W ire, A ttorney
R. U. Lansing, V ice-P resident and M anager Bond Dept.
M, K. Baker, Asst. M anager Bond Dept,
1
Solicits Your Business
|
Citizens
(j
National
Bank
||
§s 1
E
D E S M OINES, IO W A
%
|
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J. G. R O U N D S ........................ President
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S. A. MERRILL . . . .
Vice-President
l|
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GEO. E. P E A R S A L L .................. Cashier
W . W . M A I S H .................. Asst. Cashier
11
\
|
|
§
|
1
Capital
Surplus
-
-
-
$300,000
100,000
|j
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A C CO U N T S SO LICIT ED
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E STA B LISH E D 1870
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FIRST NATIONAL BANK ||
SIO U X C IT Y , IO W A
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C a p i t a l ..................................$600,000.00
New Business Invited
on the basis of
SATISFACTORY SERVICE
Resources Over $3,000,000.00
FIRST NATIONAL BANK
DAVENPORT, IOWA
L J. YAGGY, Cashier
A. F. DAWSON, President
S u r p l u s ..................................$120,000.00
Our Facilities for Handling Bank Accounts
Are, W e Believe, Unexcelled. W e Solicit
Your Business.
JOHN McHUGH, President
JOHN J. LARGE, Vice-President
F. A. McCORNACK, Vice-President
H. A. GOOCH, Vice-President
I. H. HENRY, Vice-President
J. L. MITCHELL, Vice-President
O. D. PETTIT, Cashier
FRITZ FRITZSON, Asst. Cashier
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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2
THE
NORTHWE STERN
BANKER
November, 1915
V A LLEY N ATIO N AL
BANK
DES MOINEsTIOWA
Second
C apital and Surplus $500 ,000.00
National
Bank
and
De
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Dubuque
Under Same Management
Savings
Bank
OFFICERS AND DIRECTORS
Dubuque, Iowa
R. A. CRAWFORD, President
C, T, COLE, JR., Vidfe-President
D. S. CHAMBERLAIN, Vice-President
W. E. BARRETT, Cashier
Reserve Agents for National Banks.
UNITED STATES D EPO SITAR Y
Tlios. F. Stevenson, Attorney
W. E. Tone, Treas. Tone Bros. Wholesale Cofrees, Teas and Spices
W. C. Harbaeh, Sec. & Treas. L. Harbach’s Sons Co.
E. W. Stanton. Vice-Pres. Union Nat. Bank, Ames, la.
c! W, Men nig, Pres. Mennig-Slater Co. Vinegar & Pickle Works
Alfred Hammer, Pres. Alfred Hammer & Co., Druggists
W e invite Your Des Moines Account, promising Careful,
Efficient and Satisfactory Service.
Combined Capital, Surplus and Profits
$600,000.00
O F F IC E R S A N D D IR E C T O R S
J. K. Deming
Herrn Eschen
Jas. M. Burch
Frank Bell
Chas. H. Bradley
Geo. W . Kiesel
J. T . Carr
Organized 1876
j. j . ROShek
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The First National Bank of ^Waterloo, Iowa f|
S olicits y o u r business on the m ost fa v ora ble term s consistent w it h
safe and co n se rv a tiv e banking.
p a y interest on bank accoun ts.
Our Capital
$200,000
Our Surplus and Profits— $275,000
§
|
I
O FFICE RS.
A . M. P L A C E , V ice-P resident
JAS. B L A C K , V ice-P resident
C. A . LARSON , Cashier
F . J. F ow ler
C. F . F ow ler
J, O. Trum bauer
Jas. Black
F . J. E IG H M E Y , President
DIR E CTO R S.
F . P. H U R ST, A ssistan t Cashier
V . J. R E C H T F E R T IG , A ss’t Cashier
H . H. CORDES, A ssista n t Cashier
J. W . Rath
A . M. Place
F . J. Eigrhmey
H. W . Grout
W . W . M arsh
J. T . Sullivan
T . W . Place
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CENTRAL TRUST COMPANY
O F IL L IN O IS
C H IC A G O
Capital, Surplus and Profits, $ 5 , 0 0 0 , 0 0 0
Deposits
3 5 ,0 0 0 ,0 0 0
Accounts of banks and bankers received upon favorable terms
Thoroughly equipped to handle all business pertaining to banking, and invites the ac
counts of banks, corporations, firms and individuals.
*1
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE
November, 1915
NORTHWESTERN
BANKER
President Farm Mortgage Bankers Association of America
The farm mortgage business of this country has assumed vast proportions, and is
steadily increasing. F. W . Thompson has been actively interested in this line of bank
ing for a number of years, and because of his experience and knowledge of the subject
has twice been honored with the presidency of the Farm Mortgage Bankers Association
of America. Mr. Thompson was born in Decorah, Iowa, forty-six years ago. His edu
cation was limited to the local high school at Decorah, Iowa. At the age of twen
ty-three he formed a private banking co-partnership and operated a privarte bank
at Thompson, Iowa, and continued in this relation until the year 1896, when he helped
organize the First National Bank of Thompson, Iowa. He continued as cashier of this
bank until 1902; was then made a state bank examiner for the state of Iowa, keeping
this position until 1905. He then made a connection with the Merchants Loan and Trust
Company of Chicago and has been with them up to the present time. During his con
nection with the Merchants Loan and Trust Company he has negotiated for it and its
customers more than $25,000,000 of farm mortgages, and this concern has at the present
time about $17,000,000 in force. In 1913 he was elected as president of the Farm Mort
gage Bankers Association of America and was recently honored with the re-election at
St. Louis.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE
4
N O R T H W E S T ERN
BANKER
November, 1915
MAXIMUM RESULTS
In the Accounting Department of Your Bank
Will Be Assured by Using
Devices
Kalamazoo Devices are endorsed by over thirty thous
and business men as being the most efficient o f all loose
leaf devices. They earn their price at least once over
every year. You can save one-third o f your bookkeeper’s
time by installing these labor and time saving devices.
THE K A LA M A ZO O CURRENT
Binder
(Full Pigskin Binding)
KALAM AZOO
Style “ C " Posting Outfit
(Showing Offset Block)
the
K A LA M AZO O BINDER
For Light Recor,i Work
A C om plete L in e of L o o se L e a f D e v ic e s B u ilt
to M eet S p ecific R equ irem en ts
We have the most complete line of loose leaf devices on the market, a
device for every possible accounting purpose.
Where needs are pecul
iar or exceptional we make a specialty of constructing devices for par
ticular accounting purposes. The many exclusive features found only
in the Kalamazoo devices have made them the recognized standard
loose leaf devices. Our long experience in the manufacture of account
ing devices enables us to render excellent service to our clients through
our Advisory Service Bureau.
W rite U s Today fo r D eta iled Inform ation
S A L E S O F F IC E S E V E R Y W H E R E
Kalamazoo Loose Leaf Binder Co.
KALAM AZOO
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
e x e c u t iv e o f f ic e s
M IC H IG A N
The Northwestern Banker
$2.00 Per Annum
D E S M O IN E S, I O W A , N O V E M B E R , 1915
20 Cents Per Copy
Cooperative Bank Advertising
When all the banks in a county combine on one thing,
Competition may be the
ing corn, cattle and live
there is generally something accomplished. This was the
stock, as well as manufac
life of trade, but it can
case when the banks of Mahaska county arranged for a
also be the death of it.
tured products. Mr. How
banking display at their fall festival. It was an example
This is just as true of
of community bank advertising that brought results and
ard believes that every
proved the theory that it is just as well to induce a man
banking as of any other
bank is a “ manufacturer
to save and then let him pick out his own bank. In order
business.
of credit.” He therefore
that you might have the correct details of this interesting
The biggest word in
went before the commit
event, The Northwestern Banker sent a special representa
tee in charge of the festi
business today is not com
tive to Mahaska county, who interviewed as many bankers
as possible for the purpose of securing the information for
petition, but co-operation.
val and suggested that
this article.
the banks of the county
The banks of Mahaska
have a booth at which
county, Iowa, d e m o n
strated last month the excellent results to be obtained they could exhibit banking material and also answer
any questions.which the people might ask. The idea
by co-operation and community advertising.
I believe that what the bankers of Mahaska county made an immediate hit with the committee, so Mr.
Howard got busy and enlisted
have done can be successfully
the support of the other sev
imitated by every other coun
enteen banks in his county,
ty in the country. If not by
with the result that the ex
the county, at least by the
hibit was such a success and
various towns and cities.
the new business received
As a rule, in the same com
thus far so gratifying that
munity, no one bank has any
thing special to advertise
eyery banker who took part
over that of its competitors,
is in hearty favor of continu
ing the. same plan each year.
assuming of course that the
In almost every town sometime dur
rate of interest paid by them is the
ing the year there is held a farmers’
same. It then resolves itself into the
institute, county fair, fall festival, a
personal service that the bank has to
offer its customers. The cashier of.
county grange convention or some sim
ilar gathering, at which bankers could
one of the banks in Oskaloosa said to
me: ‘T think that community bank
have an exhibit where they could show
advertising is the only real way to go
their “ wares” and tell of the service
they have to offer.
after new business, because the func
tions of each bank are practically the
During the four days of the Fall Fes
same, and if we all pool our advertis
tival over 7,000 people visited the
ing 'money and use this for educating
banking exhibit and approximately 4,the public to the value of a
700 pamphlets were given
bank account and the real
a w a y containing “ Banking
C W U K S
service that a financial insti
Suggestions,” w h i c h t o l d
tution can render them, I be
about the functions of a bank
lieve we will secure more and
and covered such interesting
fe a » ; i*'*«
better results. Personally, I
paragraphs as “ How to Open
am willing to take a chance
An Account,” “ How to Make
on securing the business of a
Out a Deposit Slip,” “ How to
customer’ after he comes into
Write Your Checks,” “ What
my bank, by showing him the
is Red Ink?” “ Borrowing at
the Bank,” “ The Collection
kind of personal service I
have to offer in connection
Department,” “ F o r g e r y,”
with his banking business. If
“ Endorsements,” “ The Use of
I can’t secure it by this method I have no right to Travelers’ Checks,” “ Lost Checks,” and “ Dishonored
manage this institution.”
Paper.”
It was C. S. Howard, assistant cashier of the Ma
To give you an idea of how these subjects are dis
haska County State Bank of Oskaloosa, who first cussed, I quote the following under the heading, “ How
thought of the idea of having a banking exhibit at to Write Your Checks:” “ Do you write your checks
their fall festival this year. Mr. Howard is a young by commencing to write the amount (both figures and
man of vision, and has already accomplished some ex written amount) as far to the left as possible, so that
cellent results in bank advertising.
nothing can be inserted before it? If not, you should.
The Fall Festival is held each year at Oskaloosa and Fill up the space remaining with a heavy line so that
is for the purpose of exhibiting farm products, includ nothing can be added after the amount. Write all fig-
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Federal Reserve Bank of St. Louis
THE
6
NORTHWESTERN
BANKER
November, 1915
THE BANK OF NORTH A M E R IC A
NATIONAL BANK
PHILADELPHIA, PENNSYLVANIA
The Oldest Bank in the United States, Chartered, 1781
Banks and bankers in all parts of the country will find the service rendered by this
old established bank efficient and satisfactory in every respect
Capital, $1,000,000.00
Surplus and Undivided Profits, $2,400,000.00
H A R R Y G. M ICH ENER, Pres.
C H A R L ES H. H A R D IN G , Vice-Pres.
W IL L IA M J. M URPH Y, A ss’t Cash.
R IC H A R D S. M cK IN L E Y , A ss’t Cash.
ures plainly and see that the written amount corre
sponds to the figures. A check written with a com
mon lead pencil is legal, but also dangerous, as it ren
ders the check easily susceptible to alterations. The
Supreme Court of the United States says: ‘The mak
er of a check is obliged to use due diligence in pro
tecting it; the omission to use the most effectual pro
tection against alteration is evidence of neglect, which
renders him responsible for the fraudulent amount,
the bank being responsible only for the genuineness of
the signature and ordinary care in paying the check/ ”
Then, under “ Borrowing at the Bank,” is this:
“ Lending money is the one important function of the
bank. One definition of a bank is ‘an institution that
manufactures credit.’ But in the manufacturing of
credit it must exercise great care, for it is strictly ac
countable to its depositors for their balances, and any
lack of care in making loans would be likely to put
the bank into an unsound condition. One of the first
and most necessary rules of the bank is that the loans
must be made upon security that is considered sound;
so do not feel that your integrity is being questioned
if you are asked to meet certain conditions in order to
obtain credit. Every borrower should help in main
taining public confidence in banking institutions.
o f N ew lork
Equitable Building
On and after October the fourth, The
Liberty National Bank of New York
will occupy its new quarters at the
corner o f Broadway and Cedar Street,
Equitable Building.
Capital $1,000,000.00
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SA M U E L D. JO R D A N , Cashier
C H A S. M. PRINCE, A ss’t Cash.
Nothing impairs public confidence like the knowledge
of unsound loans being held. Your banker is entitled
to know your financial condition just the same as the
physician the health of his patient. In all cases re
member the customer has precedence when applying
for loans. If unable to meet an obligation at matur
ity, your credit will be held in higher esteem if you
call and explain the situation at the bank.”
There were 7,500 of these booklets published, and
after the exhibit was over those remaining were di
vided among the banks for additional distribution to
their customers.
The entire cost of the display was $71.50; $53.50 for
circulars, $7.00 for banners and signs and $11.00 for
incidentals covering the express on show cases and
other articles used at the booth.
The display itself included old coins, Panama coins,
all kinds of currency now in circulation, home savings
banks, a small nest of safety deposit boxes, adding
machines, coin changers and all. banking forms and
pass books which are in every-day use. Representa
tives of the different banks were at the booth all the
time, working in shifts.
I was anxious to know what direct results had been
secured, if any, although it had only been two weeks
T h e lih e r ijr iia t io n a l B a n k
Broadway and Cedar Street
Deposits, $13,000,000.00
Surplus 6? Profits $3,000,000.00
THE
November, 1915
NORTHWESTERN
BANKER
7
since the festival. After calling on the five banks in ferred to travelers’ checks.
The bankers of Oskaloosa had an announcement
Oskaloosa, I found that the results had been verygratifying and that in every case new accounts had made in all the schools about the exhibit and the sup
been opened since the exhibit. One banker told me erintendent urged all the students to attend. In fact,
that they had opened one new savings account of $200, he went one step further than this, in order to test
had rented four safety deposit boxes and sold two of their powers of observation, and asked them to write
their little dime savings banks. Another banker told an article on what they saw.
(Continued on page 55.)
me that they had rented three safety deposit boxes and
opened two savings ac
counts. Another one
said they had sold $250
w o r t h o f travelers’
c h e c k s , rented two
safety deposit boxes,
opened two new sav
ings accounts and is
sued one letter of cred
fr a
it.
T h is bank has always
BSP- ' THE BANK IN YOUR CITY
The benefits f r o m
t h i s exhibit will of
tried to give y ou g o o d
course go on during
service.
the entire year and it is
3500It has safeguarded your
almost impossible for
500 •
135007 4.7 0 •
any one to judge ac
funds.
It has collected
curately of the exact
5 0 0 0 - 1 4 5.7 5
the
cash
represented by
amount of new busi
2500 5225 the checks you have de
5000 ness which it has stim
6 00 0
6 0 00 7 0 0.0 0
6000 1 4 0.0 0
ulated.
posited.
It has delivered
)5000 3 1-0 0
7 0.0 0
When it is consid
40 00 0
the cash ordered paid by
13 0.0 0
2 0.0 0
ered that each bank
3.0 0 6 4.0 5
240 the
checks you have issued—
135006 0.0 0
4
2
4
0
0
500 only invested $10.88, it
7 3 5.0 5
14 .7 5 5 00 600 0
5 2.5 5 50 0
even
furnished you the check
6.0 0 5 0.0 0
is very probable they
2 4 3.7 5
73245 1 3 5.0 0
4 2.6 5 •
5 0 0.0 0
blanks. It has returned your
will secure enough new
business b e f o r e t h e
cancelled checks as receipts.
year is up to more than
It has kept a record of your
“c a s h i n” o n t h i s
transactions,
a ccu rate to a
«M
AKINGDEPOSITS.
amount.
cent,
proved
every
day.
T his neatly printed Burroughs-made statement is the
C o m m e n t s were
m od ern w a y o f s h o w in g y o u the co n d it io n o f y ou r
N
ow
we
give
you
an extra
account. It saves you the
made on all sides by
inconvenience o f turning in
tangible
service.
people who visited the
your pass-book each month.
exhibit, that it was a
Instead of leaving your pass
fine idea. They seemed
b ook (your only receipt for
to be much interested
deposits) to be balanced, and
because the banks had
calling for it later, you find
made an exhibit of their
“ wares” and were ex
your statement of account with
plaining their service,
cancelled ch e ck s prepared
the same as any other
ready for you on the morning
concern.
of the first. Or you can have
To show the educa
them
any day in the month
tional a d v a n t a g e s
that you wish, at a moment’ s
which such a display
affords, it is only nec
n o tice . T h e statem ent is
essary to quote what
printed, neat, accurate— made
one cashier told me
by machine.
about a customer who
came into the bank sev
eral days after the fes
tival was over: “ I did
THAT USES BURROUGHS LEDGER POSTING AND STATEMENT MACHINES
not know,” he said,
P
. S .— Com e in a n d see h o w w e keep our custom ers' accounts by m achine. O u r methods
“ that I could purchase
m ay suggest h o w you can render sim ila r service to yo u r customers. G iv in g service p a y s.
58
‘checks’ f r o m y o u
which I could cash in
any other town in the
•ST
country without first
being identified.” The
customer, of course, re
Better Service to Our Depositors
i
4
1
I
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Federal Reserve Bank of St. Louis
T H E B A N K IN Y O U R C IT Y
8
THE
NORTHWESTERN
BANKER
November, 1915
Banking Based on the Community
By Jesse C. McNish
ln a strong address before the Nebraska Bankers Asso
The Nebraska Bankers
tastrophes. “ Events have
ciation, at Omaha, Pres. Jesse C. McNish spoke of the need
Association was organ
transpired which h a v e
of constructive legislation in banking and also the true
ized in 1890 with a mem
roused national ambition,
community of interests, which must exist between the
bership of 232. During
banker and his customers if the largest success of both
kindled national resent
is to be assured. “The bankers as custodians of the wealth
this year we have added
ment, drawn forth nation
of the country,” said Mr. McNish, “ have long been misun
forty-two banks to its
al sympathies,” and for a
derstood. No one but a demagogue or an editor of a yel
membership, now making
time threatened to dis
low journal pretends to think that the average banker
a grand total of 968 mem
makes money off the misfortunes of his fellow citizens.
turb the tranquility of the
When the farmer and business men lose money, the bank
bers out of 1,010 banks in
fireside of every Amer
er loses money, and when the community in which the
the state, which makes us
ican home. In Europe,
banker lives is not prosperous, that banker is not pros
one of the most powerful
the sound of the hammer
perous.”
forces in business, as well
has died away in the
as financial, life in the state.
workshop; harvests have rip
Joining the association helps to
ened and wasted in the fields;
keep a fellow out of a rut, and
want, fear and sorrow have en
Billy Sunday says, “ A grave is
tered into almost every home.
just a little deeper than a rut.”
In nearby Canada, I personally
Your officers point with pride
witnessed thousands of idle men
to the increase in interest, mem
daily seeking employment, but
bers and efficiency of service.
being refused in the hope that
Our financial condition a n d
refusal would force them into
treasurer’s statement will show
the army without resort to con
the strongest in the association’s
scription.
history. It has been the aim of
The Political Demagogue.
your officers to keep the mem
When the hour arrives for
bership promptly and fully in
these warring nations to turn to
formed on every subject that
our country for arbitration of
has affected our common inter
their differences, we bankers
ests, and to give force and effect
should not let it be said that we
to what we believed to be the
were too deeply engrossed in
desire and wishes of the major
business to give attention to the
election to federal office of men
ity.
Out of the six groups compris
of sterling character and ability.
ing this association, groups two,
W e must assist in keeping the
three and six attained a 100 per
demagogue and the professional
cent membership this year. This
politician out of office. Their
showing is unusual, and should
attacks upon successful men
be a strong incentive for other
and organized business have
groups to recruit their member
worked immeasurable damage.
ship to the limit. It was my
Political agitators are gradually
pleasure to be able to attend
becoming less a factor, and are
four of these group meetings,
now considered a national liabil
and I was highly gratified to
ity rather than an asset. This
JESSE C. McNISH
witness the effective work done
result is due to the activity and
President First National Bank, Wisner, Neb.,
by them.
co-operation of business men
and retiring president Nebraska Bank
Effects of the War in Europe.
and farmers; hence the country
ers Association.
The past year has been preg
naturally is getting more bills of
nant with terrible European ca(Continued on page 50.)
JAS. P. M AR T IN . Vice-President
F. E. GILL, Vice-President
T . F. H A R R IN G T O N , President
W . G. DUNKLE, Cashier
R. NASH, Ass’t Cashier
CONTINENTAL NATIONAL BANK
SIOUX CITY, IO W A
Capital $100,000.00
Surplus $10,000.00
W e know that our experience, know ledge, ability, system ,
organization, modern methods and energy w ou ld w ork great
ly to your beneiit if you give us the opportunity to serve you.
DIRECTORS
T . F. H A R R IN G T O N
J. P. MULHALL
JAMES P. M AR TIN
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
M. KASS
F. E. GILL
A . J. MORE
m . F. M cD o w e l l
C. F. GREEN
W . G. DUNKLE
November, 1915
THE
NORTHWESTERN
BANKER
TheArtistslone
is the
EDISON
Tone
T h ere is no such
thing as an "E d i
son T o n e .” T here
is; in the N ew E d
ison, a Bonci T one, a
Spalding T o n e , a
Destinn T o n e , an
Anna Case T on e—
each separate and dis
tinct; each faithful to
the distinctive char
acter o f the artist.
But the N ew Edison
has no tone o f its own.
It is merely a per
fect vehicle for the
reproduction o f the
ELEONORA
De CISNEROS
a9 CARMEN
artist’s work. There is no
foreign sound, no talking
machine” tone. Mr. Edi
son has eliminated all these. The music of the New Edison is nothing
but the pure, unaltered, life-like tone of the original artist. Come in and
hear your favorite record today on the New Edison. We will be
glad to play it for you without obligation, or any dealer will be glad to
give you a demonstration. Write for catalog and name of your agent.
Harger & Blish, Inc.
Established 1 8 8 7
811 W A L N U T ST.
DES MOINES, IOWA
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Federal Reserve Bank of St. Louis
9
N
o r t h w e s t e r n
B
a n k e r
THE OLDEST FINANCIAL JOURNAL WEST OF THE MISSISSIPPI RIVER AND THE ONLY ONE IN THE UNITED STATES
WHICH IS A MEMBER OF THE AUDIT BUREAU OF CIRCULATIONS
Published Monthly by
Clifford De Puy
TH E N O R TH W E ST E R N BANKER
PUBLISHING COM PAN Y
Publisher
709-710 Crocker Building
N O V E M B E R , 1915
DES MOINES
::
IO W A
MINNEAPOLIS
Hennepin Avenue and Fifth Street
CHICAGO
122 South Michigan Boulevard
N E W YORK
225 Fifth Avenue
$2.00 per year, 20c a copy. Entered as second-class matter at the Des Moines post office to conform to the postal
laws; everything else pertaining to the journal being strictly FIRST class
ARE YOU THANKFUL?
d As a rule you are not very thankful for the blessings you receive, but you will make the
biggest fuss in the world if anything goes wrong and when asked, why?— you simply attribute
it to human nature and expect that answer to cover up your short comings. I am glad that
we have one day once a year that we call Thanksgiving, for it at least causes us to take an
invoice of ourselves and the blessings we have received. Your trouble and mine is that we
always look on the debit side of the ledger and not on the credit side. As a nation we have
a thousand reasons for which we should give thanks. We are not at war. We are surrounded
by peace and prosperity. Our lands have produced abundant crops, coining for us over nine
billion dollars in new wealth. Our savings banks alone have one hundred and fifty-four mil
lion dollars more than a year ago. We have a billion dollar trade balance in favor of the United
States, and a fourteen million dollar increase in the net earnings of the railroads for eleven
months. These are only a few of the reasons why we should be thankful as a nation. But
these same facts should make us also thankful and happy as individuals. Did you ever stop
and just be thankful that you were alive; that you could eat three meals a day; that you could
work and think and plan? Some men cannot even do that, because of physical disabilities.
You are well and strong, and therefore should be happy and thankful. “ Gloom restricts the
view,” says one writer, “ worry and anger dull the vision, while cheerfulness expands the forces
of life and love gives glimpses of heaven.” Everything worth while takes effort, but be thank
ful that you have the effort to concentrate on your problems as they present themselves to you
day by day. For you know, as well as every other man who has succeeded, that “ Success is
not luck, but the longest, hardest job, you ever tackled.” I am asking you to think of your
blessings and not to put all of your thought and energy on your troubles. If they look big»
work hard to overcome them, rather than to put in your time enumerating how many troubles
you have. When the Germans first invaded Belgium and that little nation was putting up
such a plucky fight, a Belgian officer ordered one of his lieutenants to take a certain hill which
the Germans were occupying. After sending out his scouts the lieutenant rode up to his supe
rior officer and said, “ Sir, our men are outnumbered ten to one by the German soldiers.” The
commanding officer wheeled on his horse and said, “ Don’t count ’em, fight ’em.” So, I be
lieve if all of us would put in more time trying to overcome our difficulties and less time in
counting how many we have, we would realize how thankful we should be.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ssssssssssssssssssssssssmssasssssssssssssssmsssssssssm^
CREDIT
C[ Not long ago a bank sent to all of its depositors a blank form with the request that they
fill it in and answer the questions as outlined in order that the directors might use this as a
basis for credit. To my mind this is an excellent idea for any bank to follow. The questions
in this particular blank were so worded that not only the bank, but also the individual, would
have an intelligent idea of what his exact resources were and his correct financial standing.
Loans are sometimes based on personal friendship, and this is never good banking. I believe
that if you would urge your farmers, merchants, and business men to keep more careful records
of their transactions, of their stocks and the amount of goods they buy and sell each year, that
you would not only assist them to be better business men, but you would also be enabled, as
their banker, to know exactly what line of credit they should receive. Edward M. Hurley,
vice-chairman of the Federal Trade Commission and a man of excellent business experience,
believes that some plan should be worked out for establishing a standard system of bookkeep
ing and cost accounting for the smaller business concerns of the country. The following is quoted
from an article on this subject “ Frequently a business man with a credit of a few hundred dollars
at his bank, based wholly on personal grounds, might if he could produce a reliable balance,
readily obtain several thousand dollars which would enable him to expand his business along
sound lines. The Commission hopes to reach the desired end by putting at the service of
the merchants and manufacturers who have not had the experience or advantages that
larger firms possess, the accountants, bookkeepers, and experts in cost accounting who are
employed by the Commission, and in that way help to strengthen American industries where
they are weak.” The service, as above outlined, will only be rendered to such merchants and
manufacturers as may request it, and I believe that every progressive business man will be
anxious to avail himself of such an opportunity. If the bank has not been extending a man the
amount of credit he deserves, a correct cost accounting system would show that he is entitled
to borrow more money. On the other hand, if the bank has been extending more money to
him than he deserves they will be correctly informed concerning the situation. Every wide
awake banker is anxious to see the farmers and merchants of his community succeed. Upon
their success depends the welfare of his bank. Anything that the banker can do to benefit the
business of his customers and help them reap larger profits, means also increased dividends for
the banker. But the loans extended and the business transacted must be based on more than
personal friendship. It must be upon facts which intelligently interpret the customer’s busi€[ “ The highly efficient man is he who has body, mind and soul, not only trained, butjdisciplined. He is the man who has learned to control his will and passions, who has learned to
put his mind on the one thing, no matter how tedious; he is the man who does not ask, Ts
this a pleasant thing to do? but ‘ Is this my duty?’ the man who will put his soul into all
that he does; the man who sees in every job the opportunity for service; he is the man who
never shirks his work, but who will do it thoroughly and smile in the face of difficulties; he
is the man who is at his work fifteen minutes before the bell rings, and has the tool or pen in
his hand when the six o ’clock whistle blows.”
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
I
!$8S888SS$88SS8$SSSSS8$8m 8$88$88$SSSSS88SS$S8$S$8$SSS$S^^
“ A CASHIER'S CHECK” For $2.00 is all that is required to se
cure the monthly visits o f the Northwestern Banker for an entire
year. Each issue contains from 56 to 64 pages o f mighty inter
esting matter pertaining to banks and banking interests in
the territory covered by the magazine.
“ OUR CORRESPONDENTS” E v e r y b a n k in the
Northwest is invited to a place on this list.
Send us
items o f local interest, tell us about your bank and its
growth, prospects, etc., also any other financial news of
interest to bankers in your section. We are always
glad to hear from our friends.
“ SIGHT DRAFTS” We always carry a large “ Re
serve” o f good will and additional service, and will
promptly honor drafts made upon same by any bank.
This department is for your special benefit. It may
be made o f very great benefit to your bank. D o not
fail to avail yourself o f its privileges.
“ A CLEARING HOUSE” Our columns are a clear
ing house for all our readers. Express your views on any
I
topic of mterest to the banking fraternity and submit same for publi
cation. You do not have to agree with us, or with anyone else.
We learn things by an interchange o f ideas, and people with whom
we disagree often prove valuable teachers. We shall be glad
J’ nes.
to hear from you.
“ NO PROTEST” Has ever been offered to the state
ment that the field covered by the Northwestern Banker
is the money-producing section of the American continent,
154 rich in hogs, cattle, corn, etc., and dotted with' thou
sands o f prosperous banks, all doing a good business,
and the majority o f them are readers of “ The North
western.”
“ SURPLUS AND UNDIVIDED PROFITS” Increase
very rapidly with those banks, whose advertisements
appear regularly in the columns of this magazine.
Full information as to rates and our special service
will be promptly furnished on application. Your
business solicited and appreciated. The “ Banker”
has been nineteen years in its present field.
THE
12
NORTHWESTERN
November, 1915
BANKER
Personal Paragraphs
Mechanics & Metals National Bank’s Stockholders
have reached an agreement to purchase a controlling
interest in the stock of the New York Produce Ex
change Bank, with its several branches. It is under
stood that while the personnel of the board of direc
tors may be changed, as Mr. Parker, the president,
desires to retire on account of his long service of thir
ty-two years as president, no further change in the
official staff of the bank or its branches is contem
plated. The New York Produce Exchange Bank and
its branches will continue as an organization as here
tofore and will have the added facilities afforded by
an affiliation with the Mechanics & Metals National
Bank. It is within the possibilities that a merger may
be ultimately effected, in which event the business of
the New York Produce Exchange Bank and its
branches would be conducted under the name of the
Mechanics & Metals National Bank. It is interesting
to note that Mr. Gates W . McGarrah, the president
of the Mechanics & Metals National Bank, was con
nected with the New York Produce Exchange Bank
from the time of the organization of the latter until
the year 1898.
$
$
$
Federal Reserve Board has announced that for the
present it would not favor establishment of joint agen
cies of federal reserve banks in South and Central
American countries, with the possibility that reserve
bank money would be locked up in long-time loans
subject to wide fluctuations of foreign exchange. Pio
neer work in the Latin-American countries, the board
decided, should be done by member banks of the fed
eral reserve system, and with this end in view it prom
ised support to an amendment which would enable the
members to co-operate in owning and operating for
eign banks.
$----------- $----------- $
A. M. Price, president of the First National Bank
and Farmers & Citizens Savings Bank of De Witt,
Iowa, has returned after a two months’ vacation on
the Pacific coast, having attended the A. B. A. meet
ing at Seattle and also enjoying a motor trip from
there to Los Angeles and San Diego. Mr. Price (bet
ter known to his friends as “ Dad” ) is one of the “ live
wires” of eastern Iowa', being identified with all pro
gressive movements in his community, and has built
up a bank with a million-dollar line of deposits to its
credit.
$-----------$-----------$
Guaranty Trust Company of New York has deposits
as reported to the state superintendent of banks of
$323,000,000. These are the largest figures ever re
ported by this institution and represent g. gain of $121,000,000 over the deposits reported by this company
one year ago, when the total was $202,000,000. In the
same time the total resources of the Guaranty Trust
Company have increased from $262,000,000 to $391,000,000, or a gain of $129,000,000 in twelve months.
$—----- $— ----- $
“ The Practical Work of a Bank” is the title of a new
book just issued by the Bankers Publishing Company
of New York and written by W . K. Kniffin, Jr. It is
a very readable and practical book on this important
subject. It has been the aim of the writer to show
what the bank does, why it does it and how it is done,
avoiding as much as possible the mere description of
forms. Particular attention is given to the subject of
“ Bank Credit.”
$
$$
Geo. T. McCandless, cashier of the Reno State Bank
of Hutchinson, Kan., shows a growth in his bank, dur
ing the past twQ years, which is indeed very gratify
ing. In September, 1913, the deposits were $103,207.57 and in September this year the deposits had
grown to $280,507.87. Perhaps it is a case of saying,
“ Let George do it,” and he did.
$
-
$
$
John T. Baxter, president of the Northwestern Na
tional Life Insurance Company of Minneapolis, shows
a most excellent growth for his company. In a re
cent article he says: “ On December 31, 1914, our in
surance in force was, in round numbers, $31,850,000,
or an increase of two million during the year 1914,
which was the best year in the history of the company
up to that time. But now look at 1915. On Septem
ber 30, 1915, our insurance in force was $34,105,810, or
an increase of $2,255,810 during the first nine months
Fort Dearborn
National
Bank
CHICAGO, ILLINOIS
C A P IT A L $2,000,00«
_
_
_
_
_
I&I
SURPLUS A N D PROFITS $1,000,000
Comparative Showing: o f Depoalta
F e b r u a r y 14, 1908__________ $ 9,887,954 84
F e b r u a r y 5, 1909...................... 11,617,691.24
M a r ch 7, *1911
" *
WM. A. TILDEN, President
NELSON N. LAMPERT, V ice-P res.
CHAS. FERNALD, Ass ’ t Cashier
J. FLETCHER FARRELL, Vice -P res.
loittniil
8 ? S £ t 4 ,% i l T 2Z : : : E E : : :
HENRY K KENT> W P b e s J a n u a r y 13,’ 1914!!™ !"!” " ” "!! 29|727|922!06 JOHN FLETCHER, Vice -P res.
f
_____
"*■
United States Depositary
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Mlrohb4ri ! l 51914-------- H
---------- ™ :
« ' ' « ’ ioB
M
DEPOSITS $32,000,000
J4COBOWSKY,
Vice-P™,.
WILSON, a . ™ . ,
WM. W. LE GROS, A ss ’ t Cashier
CHARLES L. BOYE, Ass ’ t C ashier
VM L. McKEE, Ass ’t Cashier
R. J. McKAY, Ass’, Cashier
H. LAWTON, Mon. Foreign. Dept .
W e particularly desire the accounts of banks.
Our officer in charge is personally acquainted with conditions
in your section. W e know your wants and wish to serve you.
November, 1915
THE
NORTHWESTERN
of the year. If our new business for the remaining
quarter of the year comes up to our reasonable expec
tations, we shall close the year with more than $35,000,000 of insurance in force, or a gain of over $3,000,000 for the year. The assets of the company are in
vested for the most part in real estate mortgages, ag
gregating considerably more than $2,500,000. Those
mortgages are paying us an average interest rate of
better than 6 per cent. But what is more important
and more significant is this: Out of that volume of
business, over two and a half million in mortgages, we
have not one single foreclosure pending, and at this
writing we have not one single case of delinquent in
terest. That tells the whole story as to the character
of our investments.”
$
$
$
Charles Shade, president of the First National Bank
of Rock Rapids, Iowa, attended the Farm Mortgage
Bankers Convention at St. Louis. ‘One of the impor
tant questions discussed,” according to Mr. Shade,
“ was that of dower rights for women in all states. In
some states women are denied this right. The asso
ciation feels that there is no reason why women should
not have a dower interest. The association is also
trying to standardize the mortgage business and put
it on a plane where it will have a national reputation
with investors.”
$-----------$---------- $
The Liberty National Bank of New York is invit
ing all of its friends to visit their new offices in the
Equitable Building at Broadway and Cedar streets.
Since the Liberty National Bank commenced busi
ness, its growth has been continuous and steady. The
deposits are now over $40,000,000, and this growth has
been reached without consolidation of any kind. In a
very interesting little booklet issued by the bank, it
says: “ It is the hope of the officers that the same
home-like feeling will prevail in the new quarters that
was so apparent in the old and that the customers and
friends of the bank will feel ,with them that the move
is important, timely and progressive.”
_ $— ------$-----------$
The Fidelity Life Insurance Company of Sioux City,
Iowa, has moved into its fine new quarters in the
Trimble Block. A large portion of the second floor
will be occupied by the offices of the company, which
is capitalized at $200,000. It is declared that this
amount is double the capital of any Iowa insurance
company at the time of organization. There are more
than 500 stockholders in the Fidelity company, 100 of
whom are bankers of Sioux City and the northwest
territory. The officers include Ralph H. Rice, presi
dent; H. D. Brown, vice-president; A. R. McConnell,
treasurer, and E. E. Brown, secretary.
$-----------$-----------$
President Wilson, who is about to “ take unto him
self a wife,” was not long ago, according to a recent
article, reckoned “ poor” in world’s goods. “As late
as 1910, when a candidate for governor of New Jersey,
he applied to the Carnegie Institution for a teacher’s
pension. Now Mr. Wilson has a salary of $75,000 a
year and an allowance of $25,000 for traveling ex
penses. He has spent only a fraction of the amount
paid out by his immediate predecessors in official and
unofficial entertaining. It is estimated that the presi
dent is enabled to save at least $50,000 of his salary
each year. At the close of his term of office in 1917
the former poor college professor will be rated as the
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Federal Reserve Bank of St. Louis
13
BANKER
Guaranty Service
X IV
Bond Business for Banks
Our Bond Department is equipped to
expeditiously handle the investment
accounts of banks and trust companies
throughout the United States.
This department publishes a weekly
quotation list for circulation among banks
and trust companies, and issues periodical
investment literature descriptive of various
bond offerings. These, together with the
analytical service of the department, en
able banks and trust companies to keep in
close touch with the investment situation.
Should you desire our investment litera
ture as issued, we shall be p'eased, upon
request, to place your name on our mailing
list for that purpose.
G u a ra n ty T ru st C o m p a n y
of
N ew Y ork
Capital and Surplus Resources, over -
-
$ 30,000,000
300,000,000
MR. BANKER—
Would you feel safe in accepting a mortgage for a
loan where buildings were a part of the improvements
and not have those buildings covered with Fire Insur
ance?
The business of Life Insurance in no way differs
from Fire Insurance in protection value and necessity.
Further than this, it creates for every man an estate
payable in cash in case of death or at some specified
time while living.
In choosing a Life Insurance Company there is prac
tically no difference in the matter of security, providing
it is a Legal Reserve Company.
However, there are particular features of some al
lowing the Policyholder advantages over others. The
Western Life stands among Iowa’s most progressive
Life Companies and there are several especially good
features attached to a Western Life Policy, making it
a most valuable one.
Our business through Iowa Banks is given the most
careful and satisfactory attention. Wherever such con
nections have been made it has been of mutual benefit.
During the next 60 days we have a plan to present
to Iowa Bankers that is of special interest at this time.
JAS. H. JAMISON
A. D. STROTHERS
President
Sec’y & Treas.
THE
14
NORTHWESTERN
CORN EXCHANGE
NATIONAL BANK
OF CHICAGO
C a p i t a l ..........................$ 3,000,000
S u r p lu s ..........................
5,000,000
U ndivided P roiits . .
1,500,000
60,000,000
D e p o s i t s .....................
E R N E ST A . H A M IL L , President
C H A R L ES L . HUTCH IN SO N, V ice-P resident
C H A C N C E Y J. B L A IR , V ice-P resident
D . A . MOULTON, V ice-P resident
B. C. SAMMONS, V ice-P resident
F R A N K W . SM ITH, Secretary
J. E D W A R D M AASS, Cashier
JAM ES G. W A K E F IE L D , A ssista n t Cashier
L E W IS E . G A R Y , A ssista n t Cashier
E D W A R D F . SCH O E N E CK , A ssista n t Cashier
D IR ECTO R S
C H A R L ES H . W A C K E R
M A R T IN A . R Y ER SO N
C H A U N C E Y J. B L A IR
E D W A R D B. B U T L E R
C H A R L ES H . H U LBU R D
BEN JAM IN C A R P E N T E R
C L Y D E M. C A R R
W A T S O N F . B L A IR
E D W IN G. F O R E M A N
C H A R L ES L . HUTCH INSON
E D W A R D A . SH ED D
E R N E ST A . H A M IL L
F oreign E xch an ge
Letters o f Credit
Cable T ransfers
Our facilities for handling the accounts o f North
w estern B ankers are unexcelled.
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Federal Reserve Bank of St. Louis
November, 1915
BANKER
possessor of at least $200,000. Mrs. Galt, to whom he
soon will be married, has a fortune estimated at $300,000. If the president should be re-elected he and his
wife would retire from official life in 1921 with com
bined means aggregating" not far from $1,000,000.”
$------— $---------- $
Frank B. Yetter, cashier of the Iowa National Bank
of Davenport, celebrated his forty-first birthday re
cently by passing around the cigars and incidentally
being the recipient of many good wishes from his num
erous friends.
$
- $
-
$
R. F. Kitterman, cashier First National Bank, Hay
Springs, Neb., said in a recent communication:
“ Northwest Nebraska has harvested a big crop of
small grain this year, corn has matured in very good
shape and cattlemen and farmers have an abundance
of feed, with a natural result of a slow movement of
stock cattle; this means a little falling off of deposits
for this season of the year.”
$ | $ $
John A. Cavanagh, vice-president of the Des Moines
National Bank, is becoming widely known as a real
banker-farmer. In a recent issue of one of the lead
ing farm papers, an interesting story was told of how
he had taken worn-out and swampy lands and in
creased their cash rental from $1.87 to $12.00 an acre
in six years. “ To raise sixty-five bushels of corn to
the acre,” says the article, “ on a reclaimed duck pond,
on which but a few years ago the lily pads floated un
disturbed, and to increase the corn yield of worn-out
lands fifteen bushels to the acre at an expense but onethird the amount of the annual increase in income is
considerable of a feat for a young man whose farming
knowledge was not inherited, but was acquired in the
sometimes costly school of experience.”
$— ----- $--------- $
The Continental National Bank of Sioux City, Iowa,
under the able management of T. F. Harrington, presi
dent, and W. G. Dunkle, cashier, has made a most ex
cellent growth during the past year. On October 31,
1914, the deposits were $138,000 and this has been
more than doubled during the year, as their statement
at the close of business September 2, 1915, shows de
posits of $306,473.02.
$
-$
$
The Northwestern National Bank of Minneapolis
recently passed $40,000,000 in deposits, for the first
time in its history? The average daily deposits for
1914 were $30,500,000 and for 1874, two years after the
bank was organized, there were $161,000.
$
$
$
The First National Bank of St. Paul is making rapid
growth in its deposits, which are now close to $47,000,000. Since May the First National has gained $10,000,000 in deposits. E. H. Bailey, president of the
bank, said: “ The growth of deposits are far greater
than we anticipated, although conditions at the pres
ent time are a little abnormal.”
The Guaranty Securities Company, which was or
ganized two years ago at Lincoln, Neb., will open of
fices in Des Moines about the first of the year. The
company has been incorporated in Iowa and will carry
on a mortgage investment business. Willard V. Math
ews is vice-president and manager and J. L. Bowling
is in charge of the investment department. The in
corporators are: W . V. Mathews, S. B. Fuller and
Charles H. Rogers, all of Nebraska.
November, 1915
THE
NORTHWESTERN
BANKER
15
Advising W ith Your Customers
As a banker you are a business counselor to the people of
your community.
Should a merchant customer of yours come to you wanting
to know what he could do to raise a lot of ready cash quick
to meet some obligation, what would you suggest to him?
W e recommend that you suggest the Brenard Trade Exten
sion Campaign to him.
In one day Geo. Gaber’s cash receipts were $3,308.49.
J. A. Halberg took in $2,347.82 cash in one day.
A. M. Foster’s cash receipts were $2,021.00 in one day.
The Farmers’ Co-operative Store took in $2,002.00 cash in
one day.
Now we are explaining this system to you that you may
be in a position to intelligently suggest to some of your mer
chant customers a way to raise ready cash when circum
stances demand it.
Here is What the Brenard Plan will Do
for a Merchant
— it will get him new customers.
— it will hold his old customers.
— it will overcome catalogue house competition.
— it will overcome soap clubs.
— it will overcome department store competition.
— it will overcome a competitor’s cut-price sale.
— it will get full retail price for his odds and ends and slow
sellers.
— it will sell everything for cash.
— it will make dull Wednesday a bigger day than busy Sat
urday.
— it will collect his old accounts and retain the customer’s
good will.
— it will get people to deposit hundreds of dollars with him
to be traded out later.
— it will get a score of people to go out among their friends
and neighbors and solicit business for him, bringing him the
money, and do this without one cent of cost to him other than
the original price of the plan.
— it will keep these solicitors working like Trojans for him
for six solid months or more.
These solicitors will get business that the merchant has
been losing to his competitors.
They will get business that he has been losing to catalogue
houses.
They will get business that he has been losing to soap
clubs.
They will get business that he has been losing to depart
ment stores in nearby cities.
They will get him a lot of new and desirable customers.
Now, there is nothing strange or miraculous about the Bre
nard Trade Extension Campaign— nothing strange or miracu
lous about the way it gets business for merchants situated as
are the merchants in your town.
There is nothing marvelous in the way it brings new cus
tomers to the merchant’s store— nothing marvelous in the way
it gets people to deposit money with the merchant to be
traded out at some future time.
The Brenard Plan is built upon the soundest of sound busi
ness-getting methods. It is a plan that has been perfected
detail by detail during the years we have been in business.
Every great principle in it has been proven time and time
again. Thousands of merchants over the United States have
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
secured big increases in their businesses by using it—have
raised a lot of ready cash quick.
As soon as a merchant installs our plan we immediately
start to putting our own energy, our own time, our own ex
perience behind it so that he will be assured of a big increase
in his business. And we work with him and for him all dur
ing the time he is using our plan.
After we get the people of his community organized into a
great selling organization, we instruct them how to get more
business from his present customers— we instruct them how
to get business from his competitor’s customers— we instruct
them how to get business from chronic catalogue house cus
tomers— we instruct them how to get business from people
who are in the habit of trading at department stores in near
by cities— we instruct them how to get business from soap
club patrons— we instruct them how to get people to deposit
money with the merchant to be traded out later.
Read These Letters
A. M. F O ST E R & SONS
General M erchants
Storm Lake, Iow a
Mr. A. T. Presson.
Dear Sir:— In response to your inquiry about how w e were
satisfied w ith the Brenard Plan, w ill say we are w ell pleased.
On the last day our sales were over $2,021.00, and our sales the
month A F T E R we closed w ith the plan were 18% better than
corresponding month last year.
R espectfully,
A. M. Foster & Sons.
T H E F A R M E R S ’ C O -O P E R A T IV E STORE
Correctionville, Iow a
Brenard M fg. Co., Iow a City, Iowa.
G entlem en:— The campaign ended w ith great success. It did
for me as represented. It is certainly a business getter and
made collections good. Our total receipts on the closing day
were $2,002.00. T hat does not leave a bad taste in a merchant’s
mouth.
Respectfully,
The Farm ers’ Co-operative Store.
J. A. H A L B E R G
General Merchandise
Anthon, Iow a
Brenard M fg. Co., Iow a City, Iowa.
Gentlem en:— On the closing day my cash receipts were $2,347.82. P robably one-third of this w as on book accounts. So
far the campaign turned out exactly as represented by your
Mr. Presson.
Y ours truly,
J. A. H alberg.
GEO. G A R B E R
General Merchandise
Aurelia, Iow a
Brenard M fg. Co., Iow a City, Iowa.
Gentlemen:—-Replying to yours of the 6th? w ill say that I
closed w ith the cam paign last Saturday, and it w as a complete
success in every w ay. M y cash receipts for the day were $3,308.49, the b ig ge st day’s business in my mercantile experience.
I collected in on account the last day, $1,468.13.
I must say that your plan is the best business getter that
ever came to my notice.
Yours truly,
Geo. Garber.
As a banker advising with merchants from time to time we
feel that it is not amiss for you to know about the Brenard
Trade Extension Campaign. Many a time they need to raise
a lot of ready cash quick to meet their obligations and in
such a case you could suggest to them that they investigate
the plan.
There is one feature of this plan that will get you new de
positors.
If you care to have detailed information about this plan
write us and we will be glad to comply with your request.
B R EN AR D MFG. CO., Iowa City, Iowa.
THE
16
NORTHWESTERN
ATLANTIC
November, 1915
BANKER
NATIONAL
BANK
OF THE CITY OF NEW YORK
ORGANIZED 1829
Merchants
Exchange
National
Bank
Capital Stock............................................................... $1,000,000.00
Surplus and Undivided Profits.................. ...........
Z 50,000.00
OFFICERS
P H IN EAS C. LOUNSBURY,
President
E D W A R D K . CHERRILL,
Vice-President
E D W A R D V. GAM B IER,
Vice-President
F R A N K E. ANDRUSS,
Cashier
H E R M A N D. K OU NTZE.
Vice-President
GILBER T H. JOHNSON.
Vice-President
K IM B A L L C. ATW OOD.
Vice-President
W IL L IA M F. FITZSIM M ONS,
Assistant Cashier
We Solicit Deposit Accounts from Banks, Bankers, Trust Companies, Corporations, Firms and Individuals
Alex. D. Cambell, assistant cashier of the Hanover
National Bank of New York, who was well known byhundreds of bankers throughout the country, died re
cently. Mr. Cambell made a host of friends through
the sincere good fellowship which he always exhibited
to those with whom he came in contact.
$--------- $-----------$
Bert McKee, cashier of the Home Savings Bank,
was elected president of the Des Moines Bankers Club,
together with the following officers, who will serve
for the ensuing year: A. J. Zwart, vice-president; C.
F. Frazier, secretary and treasurer. The executive
committee is composed of E. A. Slininger and C. H.
Stephenson. The club is planning many interesting
meetings this winter and are already endeavoring to
secure several speakers of national prominence.
'
$---------- $-----------$
W. B. Hughes, secretary of the Nebraska Bankers
Association, brought new honors to himself by pull
ing off one of the finest state conventions that Ne
braska has ever had. Not only did the program con
tain some of the most able speakers in the country,
but the entertainment provided was such that every
body changed their middle name to “ Happy.”
$------- - $ -----------$
Speaking of Endorsements—“ Sure, Oi’ll write me
name on the back o’ your note, guaranteein’ ye’ll pay
ut,” said Pat, smiling pleasantly as he endorsed Billup’s note, “ but Oi know dommed well ye won’t pay
ut. W e’ll have a laugh at th’ ixpinse of the bank.”
$-----------$-----------$
Henry D. Estabrook, well-known republican leader
and one of the prominent speakers before the Amer
ican Bankers Convention at Seattle and also the state
convention of Nebraska bankers, left the Omaha High
School at the age of nineteen before he had graduated
in order to marry. He is neither a college or univer
sity graduate, although today he is considered one of
the most eloquent orators of the country. His edu
cation was gained from the school of experience and
hard work, from which he has taken a post-graduate
course.
$-----------$-----------$
Farmers of Iowa, according to a recent report, have
invested so far this year $36,000,000 in automobiles
n Preferred b y
Business M en
The only hotel in Chicago with direct trans
portation at its door to all parts of the city.
Just across from the Board of Trade, two blocks
from the Chicago Postoffice. Opposite La Salle
Street Station, La Salle Street at Van Buren.
Fort Dearborn Hotel
CHICAGO
Every room an outside room with private bath or toilet.
$1.50, $2.00, $2.50 per day— no higher
I1
HOTEL SHERMAN COMPANY
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
d
CHICAGO
November, 1915
THE
NORTHWESTERN
BANKER
17
O FFICE R S
Capital $500,000.00
F . H . D A V IS .....................................President
S urplu s, Earned, $1,000,000.00
C. T . K O V N T Z B ............................. ..............
V ice-P res. and Chairman o f the Board
L. L . K O U N T Z E .................V ice-P resident
T . L . D A V IS .........................................Cashier
IR V IN G A L LISO N .................A sst. Cashier
G. T . Z IM M E R M A N ...............A sst. Cashier
O. T . E A S T M A N .................... .A sst. Cashier
M VLES ST A N D ISH ..............-A sst. Cashier
F i r s t N a tio n a l
JLBank of O m a h a
O r g a n iz e d in 1857 a s
KOUNTZE BROTHERS
and $4,500,000 in threshing- machines, engines and
separators. This same report says that in spite of the
fact that there will be some soft corn, the financial
condition of the farmers of the state is much better
than in 1914.
GREAT AMOUNT OF GOLD IN UNITED
STATES.
So great has been the tide of gold poured into New
York to pay the war bills of the belligerent nations
that the task of melting it uj> to be turned into United
States coin has almost overwhelmed the employes of
the United States assay office in New York. They are
working longer than they ever did before, but the piles
of coin in bullion deposited by bankers grows instead
of diminishing.
Ordinarily about $100,000,000 in gold passes through
the assay office in a year. Since July 1st the office has
received and melted more than $82,000,000 worth.
Nearly a year’s work has been done in less than four
months.
The gold arrives generally in the form of bullion,
English sovereigns, French Napoleons and Japanese
yen.
UNITED STATES EXPORTS SET RECORD.
New high records in American export trade were
made during September. The September exports
totaled $297,766,705, showing an increase of $141,714,417 over 1914. A favorable trade balance of $146,343,919 for the month as against a balance of $16,341,722 for 1914.
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Federal Reserve Bank of St. Louis
THE DIRECT SERVICE BANK
During September importations of gold amounted
to $42,042,648 and the exportations were $2,033,990.
54 BANKS
D esigned and Erected
to Date
Our experience w ill be of
value to you
SIOUX CITY
IOWA
C. A. M A S T
Certified Public Accountant
DAVENPORT, IO W A
Commercial, County, City
and B a n k Examinations
THE
18
NORTHWESTERN
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! Certified Public Accountants |
5
■
g.
Financial Investigations
|
Audits
|
|
Cost and Accounting
|
Systems
j
BANKER
November, 1915
and characters are furnished, and as the letters are
interchangeable there is practically no limit to the dif
ferent announcements and advertisements that can be
set up on the signs. The signs are used very exten
sively by banks, real estate concerns and kindred lines
throughout the West.
The dimensions of the signs are fifty-two inches in
length, fifteen inches in height by six inches deep.
They are provided with four twenty-five-watt tung
sten lamps, flasher and attachment cord, all ready for
connecting. The letters are in translucent milk-white
glass on an opaque black background with a border
surrounding the lettered space on the sign in a pleas
ing combination of translucent opalescent art glass in
it*
!
W M . GUTHRIE & CO.
!
j
234-235 Davidson Bldg.
j
I
SIOUX CITY
.
.
.
.
1 Î Ë PAY 3$ « YOUR S A V I N G S
1 M . S T A R T S YOUR Î TO D A Y
IOWA |
$3 IIIIIIIIIIIOIIIIIIIIIII[3IIIIIIIIIIIOIIIIIIIIIll[3IIIIIIIIIIIIC3IIIIIIIIIIIOIIIIIlllllOlllllillllOllllllllllOlllllllllllL'ï»
AN ART-ELECTRIC W INDO W SIGN.
The accompanying illustration is representative of
an art-electric window sign for banks as manufactured
by the Rawson & Evans Co. of Chicago.
These signs are made for use in any interior posi
tion desired, but are more commonly used in the win
dows of banks. The signs have forty-eight letter
spaces in connection with which 150 letters, figures
amber, brown and ruby tones, which give the sign
a very attractive and artistic appearance when illum
inated. Colored inserts are furnished with the letters
which make it possible to set up any or all of the let
tering in one or more colors, certain words in colors,
the initial letter of each word in color and similar
combinations.
The manufacturers will send these signs on ap
proval to any bank with the privilege of their return
ing the signs at the manufacturer’s expense if not
Returns of sales on the Chicago live stock market
made thru
The Live Stock
National
Bank
OF CHICAGO
are prompt and accurate.
Direct your “ Yards”
Business to Us.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
November, 1915
THE
NORTHWESTERN
found entirely satisfactory. If interested in the signs
write the Rawson & Evans Co. for the booklet re
ferred to, which contains all information respecting the
signs and the terms on which they are furnished.
___________________
BRAZIL A SPLENDID FIELD FOR AMERICAN
BANKS.
“ With the regular rate of interest fixed at 12 per
cent in the northern part of Brazil, and at 10 per cent
in the southern part, and with interest rates corre
spondingly high in all parts of South America, it is
remarkable that American bankers have not gone into
the South American field before this,” said John H.
Warner, general secretary-of the Y. M. C. A. at Per
nambuco, Brazil.
“ W e had no American, banks in South America at
all before the war and have but three now. Two
weeks after the war began an American bank was
opened in Buenos Ayres, and there is another which
has been operating in Rio de Janiero for six months.
The third has just been opened, and at Pernambuco,
a city of 200,000 population, we have no American
banks at all.
“ The banks which have been opened by bankers
from this country are experiencing excellent business
already and the field is a favorable one for much great
er development.”
NEW BANK STARTED AT DOWS CITY, IOWA.
C. L. Isbell, who has been cashier of the State Sav
ings Bank, Logan, Iowa, for the past eleven years, has
severed his connection with that institution. Mr. Is
bell, with Mr. L. K. Moore, president of the Dunlap
State Bank, Herman Lazarus, and a few other men
have started a new bank at Dows City to be known
as the Farmers State Bank.
The officers will be: Herman Lazarus, president;
L. K. Moore, vice-president, and C. L. Isbell, cashier.
A new bank building has already been erected.
CITIZENS TRUST AND SAVINGS BANK AND
THE SECURITY SAVINGS BANK OF
PERRY, IOWA, CONSOLIDATE.
The consolidation of the Citizens Trust and Savings
Bank and the Security Savings Bank of Perry, Iowa,
under the name of the Security Savings Bank, makes
that bank the second largest in Perry with a capital of
$50,000 and deposits of $500,000. The entire deal was
handled by the Rhodes-Overstreet Company of Omaha,
Neb.
S. S. Dilenbeck and B. C. Dilenbeck, who owned
the controlling stock in the Citizens Trust and Sav
ings Bank, disposed of their stock to J. E. Davis, and
it was by this change that the consolidation was made
possible.
Mr. Davis will be the president and active manager,
John Hambright will be one of the vice-presidents
and F. B. W ood will act as cashier.
Plans^will be made for the immediate remodeling of
the Citizens building into a commodious banking
home.
BANKS OF PALO ALTO COUNTY, IOWA
SHOW STEADY INCREASE.
The First National Bank of Ruthven, Iowa, has re
cently issued a folder showing the condition of the
banks of Palo Alto county, Iowa.
The total deposits of the fifteen banks in Novem
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BANKER
19
“ Checks are
money
W h y 9 0 per cent?
Why are 90 per cent of the total payments in
the United States made by check?
More Convenient. The banks have taught
the public, and the public has been a good pupil.
Safe~when proper precaution is used.
What is proper precaution?
It is making sure that a check will be paid as
originally drawn as to amount, payee, date or en
dorsement.
That means National Safety Paper, the logical
check-paper for all banks.
A s k your stationer, printer or lithographer—or
write us fo r samples.
George La Monte & Son
F o u n d e d 1871
35 Nassau Street
N ew York
Capital and Surplus $10,000,000
1857
19 15
The character of this bank is reflected in the
personnel of its board of directors
FRANK H. ARMSTRONG, President held Murdoch ^ Co
toS ConhmnyTON’ Chalrman Board ° f Directors Western Elec-
wS i i yM
o^pa.5iRIJN'1E- *"•“ »*
EDMUND D. HULUERT, Vice-President.
CHAUNCEY KEEP, Trustee Marshall Field Estate
SWYMOTrii
K’ rPleTU
r?nt
Interliati°nal’
SEYMOUR MORRIS, I'r
Trustee
L. 1Z.
Deiter
Estate Harvester Co.
JOHN S. RUNNEI.ES, President Pullman Company
ET.^yerson'& Son RSON’ | halrn,au Board of Dlfectors Joseph
O R ioN ^M IT H Dpresfd1nE '
moI
Fle'd & C° mPany'
I s1I ' ^ p& A£ o l & : S S Sprague'Waraer A Co-
ALL
B R A N C H E S OF
B A N K IN G
THE
20
NORTHWESTERN
BANKER
November, 1915
T H E SAN D IEG O SAVIN GS BAN K
W EAR Y AN D ALFORD COM PANY
1907 Michigan Boulevard, Chicago
B A N K B U ILD IN G S A N D E Q U IP M E N T
ber, 1908, were $1,808,203.99, and in June, 1914, were
$3,056,317.30; the surplus and profits in 1908 were
$88,697.94 and in 1914 were $209,554.52, and the cap
ital has increased from $371,000 to $381,000 in the
same length of time.
WHY
Oae Glance Shows the Usefulness and Convenience of
The Handy Telephone List.
With fileseffectivejn-door sagsm theTelephone of your customers and prospec
tive customers, V W U V T TUB 8 0 £ A TREMENDOUS ADVANTAGE OVER TOlftt
COMTEHTORS’ V
3MHI
SAMPLE 2 Sc
Write for Quantity Prices.
C E. ERICKSON & CO. Des Moines, Iow J
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SUCCESS OF MID-WEST CONFERENCE ON
PREPAREDNESS DUE LARGELY TO A. F.
DAWSON OF DAVENPORT.
A. F. Dawson, president of the First National Bank
of Davenport, is receiving thé congratulations of his
colleagues all over the middle West for the part he
played in making the Mid-West Conference on Pre
paredness, which was held in Davenport, la., Thursday
and Friday, October 14th and 15th, such a large suc
cess. Mr. Dawson served as president of the confer
ence, chairman of the committee of fifteen, represent
ing the cities of Davenport, Rock Island, Moline, East
Moline and Bettendorf, which co-operated in the work,
and acted as toastmaster at the three banquets that
marked the progress of the gathering.
Mr. Dawson served as a member of congress from
the second district of Iowa for six years, declining to
be a candidate for re-election in 1910 in order to take
the presidency of the Davenport institution, which, by
the way, was the first national bank actually in opera
tion in the United States. It was largely as a result
of the friendships he made in congress and the stand
ing he had in that body as a member of the appro
priations committee and the committee on naval af
fairs, that enabled him, by personal communication, to
induce twenty-six members of the house of represent
atives and two United States senators, in addition to
a host of state official's and prominent business men
November, 1915
THE
NORTHWESTERN
BANKER
21
from nine states, to make the journey to Davenport
and participate in the deliberations of the conference
for two days.
Mr. Dawson is a former president of the Greater
Davenport Committee, a former treasurer of the Dav
enport Commercial Club and is now president of the
Scott County Farm Improvement League, an organ
ization which, according to reports from the Federal
Department of Agriculture and the State College at
The Service it Renders
Depositors confidence is built
upon service.
Elliott-Fisher B a n k B o o k
keeping Machine is built to
render service to your deposi
tors and your Bank.
There are many factors that
combine to make this service.
S ervice Factor No. 1
A. F. DAWSON
President First National Bank,
Davenport, Iowa.
Ledger and Auditor’s Journal of
Checks and Deposits posted and made
at one operation. Depositor’s state
ment also made if desired.
Ames, has done more to effect actual economies in
farm operation and actual money saving to members
than any similar organization of its kind in the coun
try. In addition to these activities, Mr. Dawson is
closely identified with the Davenport Rotary Club and,
in fact, with every other promotive activity which is
undertaken for the benefit of the community.
The flood of letters he has received from bankers
all over the middle West, as well as from the distin
guished men who attended the conference, tell, better
than by any other means, how much his most recent
activities for the common good have been appreciated.
Earl Recknor, who has been connected with the Se
curity Bank, Storm Lake, Iowa, for the past three
years, has resigned his position there. Mr. Recknor
has been a popular young man in Storm Lake and will
be missed by the patrons of the bank and his friends.
The Farmers Savings Bank of Ottosen, Iowa, in
creased its capital stock from $10,000 to $20,000. ..
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Positive control and security
result from this factor which
embodies a service that inspires
confidence.
A request from you on your bank
stationery w ill bring a detailed re
port on Service Factor N o . 1 and
“ Accounting Control for Banks.”
ELLIOTT-FISHER COMPANY
1125 Cameron Street
HARRISBURG, PA., U. S. A.
O ffic e s in a ll p r in c ip a l c itie s
THE
22
NORTHWESTERN
BANKER
November, 1915
A History of the Ideal Cashier
Chapter No. 7.
By S. L. Frazier
ling” little star on your
Chapter No. 1 of this series commenced with the May
Roosevelt, for various
issue of The Northwestern Banker and while each chapter
home ball team beats
reasons, would prove a
will be complete in itself, it will pay you to refer to the
warming the bench for
dismal failure as a coun
previous issues in order to see how our “ ideal” young
the Boston Braves. Shine,
try bank cashier.
banker received his start in life.
young man, shine some
The kaiser, and the
czar, and the king of England would all make a “ mess” where. Shed a little light all your own. Don’t be a
dead old moon, a reflector, simply, of borrowed greatof country banking, no doubt.
#
These men “ shine” in their respective ways, but put ness.
If you are going to be the cashier of a country bank,
them in the banking game and the chances are they
would never reach first base, they would never get in be an ideal one. Mirrors and reflectors are poor sub
the “ king row,” they would fall down on the turns, or stitutes when it comes to banking. Borrowed light is
flounder hopelessly at the head of the stretch, with dead light. Reflected sunshine is “ lifeless.” There is
the good horses home, and be classed with the “ also no warmth, nor vitalizing power, nor healing qualities
in mere reflections. Be genuine and real and self-re
ran.”
Everybody can “ shine” somewhere, and it is a mis liant. Make of your opportunities and master and
taken notion to be overambitious or try to fly too high. solve your own problems and your light will shine.
If you are aiming to become a cashier, resolve to
Just be a “ twinkling little star;” there are millions of
be an “ ideal cashier,” and do not be satisfied with any
these, but a very few “ suns.” See?
It is all right to “ aim high,” but folly to waste your thing short of that.
You will meet with discouragements and trying
ammunition shooting at the clouds, for there isn’t any
situations
aplenty. Easy sailing, however, never made
“ game” up there.
Building “ castles” in the air is mighty poor busi a “ sailor.” The wind and the waves, the storms and
ness. Houses are on the ground, with their founda the typhoons, the things that put a man’s soul to the
tions on the solid rock. Build a house. I would a test, that try his courage and prove his “ worth,” are
thousand times rather be the successful head of a lit the things that count. To be a successful cashier one
tle country bank than a mere clerk in a million-dollar must be as “ bold” as he is “ cautious.” W O R K UP
institution. It is infinitely better to be a five-pound A REPU TATION , and you can only do that by con
bass in East Battle Lake than a minnow in the Pa stant, well-directed effort, by keeping everlastingly at
cific ocean. It is far preferable to be a big frog in a it, by going the distance, by having courage, by deliv
small puddle than a small toad in a big pond. Find ering the goods. Make a reputation and the rest is
your place and then proceed to fill it. Shine some easy. It is told of a well-known “ automobile” that it
traveled twenty-five miles without an engine. It made
where.
that distance on its “ REPU TATIO N .” How many
If a school teacher, be the best there is.
of our would-be cashiers can get that far on theirs?
If a student, move up to the head of the class and
(T o be continued.)
stay there.
If a bookkeeper, be the neatest and most up-to-date
VAULTS BUILT BY THE AMERICAN BANK
one in the town.
PROTECTION COMPANY OF MINNEAPOLIS
If a barber, be the best little “ shaver” that ever han
ABSOLUTELY BURGLAR PROOF.
dled a razor.
The
American
Bank Protection Company of Minne
If a carpenter, be a finished one. Make yourself
apolis, Minn., for sixteen years has protected thou
talked about.
If a blacksmith, nail a “ horseshoe” over the door and sands of banks without a robbery or loss of a dollar.
The improved oxy-acetylene cutter-burner torch
“ hammer” your way to the front.
If a janitor at the school building, make for your (primarily for mechanical purposes) will flux the thick
est and hardest steel or concrete without noise or pub
self a “ name” as the best ever.
licity, and in the hands of yeggmen has proven to be
SHINE somewhere. You can do it.
W hy, I wouldn’t give fifteen cents to be a “ dub” in the most rapid and destructive tool devised. It is a
the biggest game that was ever staged. A twink- well-known fact “ that bank robbers were capable of
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I
FARM LOAN WANTED
|
1
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1
We have a large amount of money to lend on Iowa farms on advantageous terms and at lowest
rates. We want regular connections in many Iowa counties, with a view to securing a steady volume
of good loans.
Write us for terms and tell us what you have.
|
I
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I
The Leavitt & Johnson Trust Company
|
WATERLOO, IOW A
Emmons Johnson, Pres.
E. L. Johnson, Vice-Pres.
Carleton Sias, Vice-Pres.
C. R. Davis, Sec’y.
Capital
. . .
Surplus and Profits -
Geo. W . Williams, Ass’t Sec’y.
W . C. Logan, Treas.
$150,000.00
200,000.00
|
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
November, 1915
THE
NORTHWESTERN
entering any vault or safe that they could work at,
unobserved.” Hence, vault engineers are now apply
ing electric protection and its resulting public alarm
to thwart any attempt to enter the vault by the use of
the cutter-burner torch.
The American Bank Protection Company, of which
W . H. Ritchie is president and treasurer; A. A. Mc
Rae, vice-president; F. Whitmarch, secretary, and W.
E. Vilmann,. cashier, will furnish on application esti
mates and full information regarding their electric
alarms and daylight hold-up system for your vaults.
BANKER
23
Attractive Fixtures are a
B A N K ’ S Best A S S E T
Then W hy N ot Get “ Ehrhch” Fix
tures and Increase Your Business?
THE DUBUQUE NATIONAL BANK, DUBUQUE,
IOWA, REORGANIZES.
The Dubuque National Bank of Dubuque, Iowa, is
undergoing a complete reorganization in its official
and clerical departments. State Sen. N. J. Schrup and
George W. Myers, both prominent in Dubuque busi
ness circles, have acquired substantial blocks of the
stock and have been elected to the board of directors.
These new directors will add to the prestige of the
bank.
The capital of the bank is $100,000 and the surplus
and profits are $30,000.
HENRY D. ESTABROOK URGES BIGGER
NAVY AND BUILDING OF MER
CHANT MARINE.
Henry D. Estabrook, republican leader, gave his
“ dishwater” address on self-defense before the Uni
versity Club of Omaha recently. “ W e boast our
strength to repel attack when we know we are weak
er than dishwater.”
He said in part:
“ This bloody, beastly war raging in Europe— the
outcome of a family feud among royal kinsmen—is of
no immediate concern to this country except as some
of the belligerents have trampled our rights as neu
trals. As for these aggressions, we have entered our
protest and recorded our resentment. It is hardly
probable that the situation at the worst will involve
us in armed conflict, though it may lead to reprisals
and demands for reparation. Both reprisals and rep
aration we could forego, at whatever cost of prestige
and national honor, rather than challenge combat with
our superiors in strength.
Weaker Than Dishwater.
“ No nation threatens us in so many words; but who
is oblivious to hints and intimations that speak loud
Chipped
If You so Desire W e WM1 Help You
Design Them.
W rite Us Today.
H. EHRLICH & SONS MEG. CO.
ST. JOSEPH, MO.
er than words? W e boast our strength to repel at
tack when we know we are weaker than dishwater.
While every other nation has been preparing for ag
gression, we have not made ready even for defense.
Is this state of imbecility to endure? Shall we con
tinue to listen to a wandering voice as imbecile as our
condition? When this voice was recently removed
from the counsels of our government we thought,
good easy souls, we had gotten rid of it. Has Mr.
Bryan proven himself so good a prophet in the past
that we can afford to trust him for the future? You
recall what direful things were sure to happen, ac
cording to Mr. Bryan, if this country failed to repudi(Continued on page 25.)
Gold
BANK SIGN TABLETS
W il l id e n t ify y o u r b a n k in a p le a s in g ,
d ig n ifie d and im p r e s s iv e m a n n er. T h e y a re
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Send us cu t, p h o t o o r p e n c il s k e t c h o f
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RAW SON & EVANS CO.
711-713 W a s h in g t o n B lv d .
CHICAGO
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE
24
NORTHWESTERN
November, 1915
BANKER
H ow Bankers Are Advertising
has given a handsome 4x6
Novel Idea Used by a
This department contains ideas from different bankers tell
flag. According to CashBank to Attract Atten
ing of methods they have employed in advertising to se
i e r W a l k e r , this has
tion of the Little
cure new depositors and to increase their business. Use
the ideas and plans that appeal to you and also write and
proved to be one of the
Folks.
tell us what you have been doing along this line.
most beneficial ideas that
At the fall fair held in
they have ever tried.
Estherville, Iowa, one of
The bank is gaining steadily, as is shown from the
the features was an auto parade and prizes were of
fered for the best decorated machine! W . W . Walk fact that on April 19, 1915, the cash on hand and due
er, cashier of the Iowa Savings Bank, won second from banks was $35,328.35; surplus and profits, $33,prize and also secured for his bank some very favor 609.41, and deposits, $443,769.34, while at the present
•time the. cash on hand and due from banks is $85,able publicity.
As noted in the accompanying illustration, he filled 427.71; surplus and profits, $39,714.96, and deposits are
$491,570.72.
his auto with children, which are indexed ‘“ Emmet coun
The bank officers are: Mack J. Groves, president;
ty products” of the highest quality.
A. D. Root, vice-president; W . W . Walker, cashier;
Mr. Walker’s car was decorated with yellow tissue L. E. Stockdale and F. G. Parsons, assistant cashiers.
paper for a background and this was covered with
“This is an Age of Publicity.”
poinsettias and leaves. The idea of the umbrellatjwas
In a very able address on the subject of “ Publicity
•as Affecting the Investment Banker,” Geo. B. Cald
well, ex-president of the Investment Bankers Associa
tion of America,-gave expression to the following ideas
on publicity: “ This is an age of publicity— there is
a world of sense in the saying, ‘Sell your hammer and
buy a horn,’ if for no other reason than because pub
licity establishes stable business conditions and begets
confidence, and this makes a market. Publicity is of
many sorts. There are those who think that the dis
play of words and pictures in newspapers is good pub
licity. It is only good for a certain time and for a
certain purpose. Many small cities fight fire by ring
ing a bell, but alarms don’t prevent fire. It is adver
tising, however, and while all advertising may be pub
licity, all publicity is not— in the general acceptance
of the term—advertising.
“Advertising is systemized selling. Publicity has
for
its aim the accomplishments of a definite purpose,
to represent protection and security which the Iowa
by
moulding
the minds of groups of people to one
Savings Bank furnishes its patrons, and also the fact
common
way
of thinking. Editorials are not adver
of the protection against the storms of life which come
tising,
but
the
highest type of publicity. In this or
to little folks who have learned to save their pennies
ganization our advertising is left to the individual
and have a bank account.
member, as are also our other selling forces like our
This enterprising bank caters to the small savings salesmen and our circulars, etc., but the field of pub
accounts and has just recently placed about 200 little licity is certainly the field of operation for this asso
automatic recording savings banks with the little ciation.
folks. The bank has also secured 150 new savings ac
I am told there are today 22,500 publications in the
counts of $25 or more and with each of these accounts
S ís Jín c Jtve
DOUBLE PURPOSE SCREEN FOR BANK WINDOWS
437
V i e w fr o m th e e x te r io r is s h u t o u t w it h b u t s lig h t
in te r fe r e n c e to lig h t an d v is io n fr o m w it h in .
WESTERN DISPLAY CO., Saint Paul
SEND FOR C A T A L O G
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
AN IOWA BANK increased its deposits
fAdvertising
forty per cent in one year with my
Service for Banks. The
cost was no greater than for the year
previous. This Bank will tell you that
CRADDICK SERVICE is an investment. If
you will ask for Information I will
gladly send full details with an es
timate for your -Consideration.
H. B. CRADDICK
F in a n cia l A d v e rtisin g
1003-1006 First N at’l Bank Bldg.,
Minneapolis, Minn.
November, 1915
THE
United States of all kinds— 58,000
street cars and millions of square feet
of billboards and dead walls, and a
large consumption of electric energy
for signs, and $100,000,000 given away
as premiums, which in total is a tax
laid upon business of over $700,000,000. These are all employed by differ
ent lines of business in their publicity
advertising and salesmanship.”
Bank Offers to Take Photograph Free
of Every Person Who Opens a
Savings Account of $5.00 or
More.
T o ' everyone opening an account
with the Central State Bank of Des
Moines in their savings department for
$5.00 or more, they present a coupon
which will entitle the holder to one
photograph of themselves or any mem
ber of their family of the $12 per dozen
value, which is taken by a prominent
local photographer. Only one photo
graph is given to a family. This is a
new idea in premium bank advertising
and one which has such a strong per
sonal appeal that it is proving exceed
ingly successful. The coupon used by
the bank is as follow s:
FREE
CENTRAL STATE BANK
PHOTOGRAPHER’S COUPON
Good for one photograph at C-----Studio. Sitting by appointment only.
This coupon authorizes C------ Studio
to furnish you with one photo of the
$12.00 per dozen value, absolutely free,
without obligation to take more photo
graphs than the coupon calls for.
C------ Studio agrees to furnish you
their very best work and to redeem one
coupon for one picture of each person.
(Only one free picture for each fam
ily.) Children under 16 years of age
must be accompanied by their parents.
The value of this coupon expires June
1, 1916, unless an extension of time is
given by the Studio.
CENTRAL STATE BANK,
By
NORTHWESTERN
Í4-
Ì U ft /V D
..
Lomeaoa/w iit amm/rdt
A Thanksgiving turkey becomes a big fat turkey by being fed a little
from day to day. A Thanksgiving bank account becomes a fat one by
the small deposits that you make from time to time.
You are just as welcome in our bank with a small deposit as with a
big one. Lots of small deposits make the big fortune. Start a bank ac
count n o w ---y o u will be thankful next year.
BANK WITH US
W e pay.
..p e r cent interest--------------------
BANK’S NAME HERE
You See This D on’t You? Others W ill See Yours
If T h ey Are Like It, W o n ’t They?
Don’t you want us to tell you how we can make the money you have in your bank,
STICK in YOUR bank; and how to get others to put more money into YO U R bank?
W R IT E US: W e will do it cheerfully.
T H E O U T C A U L T A D V E R T IS IN G CO.
1135 Caxton Building
............................................: .........................
Grant McPherrin, cashier, reports new accounts
being opened every day ranging from $5 to $500.
Gives Eastman Camera Free to Every Person Starting
a Savings Account.
The Sioux Falls National Bank of Sioux Falls, S.
D., is securing new savings accounts by offering an
Eastman camera free to every person who opens a
savings account this month and shows a balance of at
least $25 on December 24th, on which date the cam
eras will be .presented to such customers.
HENRY D. ESTABROOK FAVORS BIGGER
NAVY.
(Continued from page 23.)
ate a moiety of its honest debts by giving to fifty
cents’ worth of silver the magic name of dollar. Per
sonally, I have never believed in Mr. Bryan’s wisdom,
and I grant him sincerity only because the point is
not worth arguing.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
25
BANKER
Chicago, 111.
(P lease m ention this paper when writing)
“And yet I would heartily advocate Mr. Bryan’s pol
icy of non-resistance rather than any policy of half
preparedness. I had rather scrap every gun and war
ship we own if we are not to add to them. For if we
were without strength to oppose invasion we could
at least claim the privilege of the weak and surrender
without loss of life, with a moral claim even to the
pity of the invaders; whereas a fight inadequately
armed and with a certainty of losing would be noth
ing short of murder, for which you and I and every
taxpayer in the United States would be measurably
responsible.
“ To say that we are too big or too proud to fight
in self-defense is, with all respect to the estimable
but mistaken gentleman who said it, absurd and guerile. To say that a mob of a million or so untrained
citizenry would leap to arms and put to flight the bul
let-tested soldiery of Asia or of Europe is worse than
puerile—it is murderous stupidity.
26
Legal
THE
NORTHWESTERN
Opinions
BANKER
November, 1915
and Decisions
This department contains each month excerpts from the
Effect of Want of Con
not guilty of negligence,
latest decisions on banking and commercial law carefully
sideration.
and it has been generally
selected from recent decisions of the supreme courts of
The law of Iowa pro
held that, if being able to
Iowa, Nebraska, Minnesota, North and South Dakota, and
read, the maker signed
vides that want or failure
from other states when the decisions are of interest to
our subscribers. Questions of interest to bankers will be
of consideration for a
the note without reading
discussed and A N Y SU B SC R IB ER has the privilege of
it, he will not be per
note or bill is a sufficient
writing for information and advice on any legal subject.
defense if it is in the
mitted to defend against a
He will receive an immediate reply from our attorney
hands of the original pur
bona fide purchaser.
without any fee or expense. A complete trial brief of any
subject involving exhaustive research in a complete Law
29 Minn., 298; 51 Minn,
chaser or one who took it
Library will be furnished at any time for $10.00. In w rit
480.
with full knowledge of
ing for information, kindly enclose a 2-cent stamp for
the circumstances, but
In such case the burden
reply and address “ Legal Department” care The North
of proof rests on the one
not otherwise. A defense
western Banker, Des Moines.
claiming under the in
may be set up against
everybody but an innocent holder. An innocent hold strument to show the negligence.
er is one who has purchased negotiable paper for value
Scofield v. Ford, 56 Iowa, 370.
before maturity and he is charged not only with the Notice or Knowledge Apparent from the Paper Itself.
actual knowledge which he possessed in the matter,
Where an instrument itself contains matters suffi
but with all the knowledge which an ordinarily pru cient to necessitate inquiry on the part of the taker,
dent man, acting under like circumstances, should pos his failure to make such inquiry will prevent him from
sess. Officers of a bank are charged with knowledge claiming the rights and protection of a bona fide hold
of the affairs of the bank. Notice to one officer has er.
been held to be sufficient notice to bind the bank; that
No. Ave. Svgs. Bank vs. Hayes, 188 Mass., 135; 72
N. E., 311. .
is, notice to the president, for instance, that the paper
of a certain party or a certain note has been secured
Mere suspicious circumstances or carelessness are
by fraud would be notice to the cashier in law, even insufficient to necessitate inquiry and prevent a per
though as a matter of fact he actually knew nothing son from being a bona fide holder, nor is mere suspi
about it when he bought the paper.
cion evidence of negligence which will defeat a right
However, the purchaser of a note procured by fraud, to recover by a bona fide holder.
Lehman v. Press, 106 Iowa, 389.
although he has purchased for value before maturity,
and without notice, is not allowed to recover a greater
Marginal figures placed above and outside the body
sum than that paid for the note, with interest and of a note are not part of a note itself, so that their al
costs, and it is proper, therefore, to show the amount teration will not deprive a purchaser of his character
paid in such cases and the question can properly be as a bona fide holder.
submitted to the jury in order that they may deter
Merritt v. Boyden, 191 111., 136.
mine.
What Circumstances are Sufficient to Put a Purchaser
Richardson v. Monroe, 85 Iowa, 359.
of Negotiable Paper Upon Inquiry in Order to
An illiterate maker of a note or mortgage for $1,000
Secure the Rights of a Bona Fide Holder.
testified that he signed them supposing he was sign
A purchase from a comparative stranger residing
ing a lease and note for $100. He is held not liable out of the state, of a note endorsed without recourse,
on the note even when in the hands of an innocent which has been procured from the maker by fraud at
purchaser, unless he was guilty of negligence in mak another town than the place where sold, in which town
ing it, since he never was a party to the contract.
there were several banks, is a circumstance which
Greene v. Wilkey, 98 Iowa, 77.
would arouse suspicion in the mind of a prudent per
The rights of bona fide holders have been material son, so his purchase without inquiry would destroy
ly strengthened by the adoption of the uniform ne his good faith and prevent his enforcing the note
gotiable instruments act, which provides, section 3660- against the maker.
a-124, that where a negotiable instrument is material
(So. Dak.) Mee v. Carlson, 117 N. W., 1033.
ly altered without consent of all parties liable thereon,
Erasures on a Note.
it is void, except as against the party who has him
_ Marks or words on a note that do not affect the
self made, authorized or assented to the alteration, but rights of a holder or do not indicate that the paper is
where an instrument has been materially altered and the property of a third party, or is to be used for a
is in the hands of a holder in due course, not a party particular purpose, do not put the purchaser on in
to the alteration, he may enforce payment thereof ac quiry, but bank marks showing that the paper has
cording to its original tenor.
been rejected or words in a note showing that some
This clause will overcome the doctrine of Briggs v. one else has an interest in the same will be held to
Ewart, 51 Mo., 245, where a man signed a note when put the purchaser on inquiry.
he supposed that it was an order for a patented arti Effect of Detachment of Paper Attached to a Bill or
cle, and that he was accepting the agency for the sale
Note and Modifying the Terms Thereof.
of the thing, although his signature may be put to the
Prior to the adoption of the negotiable instruments
writing and may be even written by himself, yet if he law, which permits a bona fide holder, not a party to
did not know what he was signing, but acted under an alteration of an instrument, to recover according
the belief that he was signing some other paper, he to its original tenor, it seems that the detachment of
wrill still be bound.
a paper originally attached to a bill or note and modi
Of course, in order to defend on the ground of fraud fying the terms thereof, has the effect to render the
it must be shown that the party making the note was instrument void in the hands of a subsequent bona
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
November, 1915
THE
NORTHWESTERN
fide holder and prevent any recovery thereon, or to
entitle such a holder to recover without reference to
the condition in the paper detached; in other words,
the courts hold that there could be no recovery at all
for the reason that the detachment of the paper con
stituted a material alteration voiding the bill or note
even in the hands of a bona fide holder. However,
the above has been superseded by the adoption of the
negotiable instruments act.
The inquiry has been made whether a bank can
properly lend its credit by any form or endorsement or
guarantee for the principal benefit of another. The
rule is broad, applying to all corporations organized
for this purpose. A simple act of becoming surety or
guarantor for the contract or debts of any person or
corporation is not within the implied powers of a cor
poration. The reason for this rule is that such a con
tract risks the capital and funds of a corporation in
the enterprise not contemplated by the stockholders
in purchasing or subscribing for the stock, prejudices
the rights of its creditors and exceeds the authority
conferred by its charter.
See Philmamy v. Iowa Paper Bag Co., 108 Iowa,
27
BANKER
F ou r Feet of S t o r a g e
F il i n g S p a c e
For Cancelled Checks, Drafts, De
posit Tickets and Others in This
Baker-Vawter Two-Drawer Steel
Storage Unit.
333.
Where a statute of a state provides that not more
than a certain per cent of the bank’s capital should be
loaned to anyone, a loan in excess of such statutory
limitation is not void, although it may subject the
bank to a penalty. The prohibition is intended as a
rule for the government of the bank and may not be
used as a defense against payment of an honest debt.
Benton County Svgs. Bk. v. Bodicker, 105 Iowa,
548. _
Liability of a Bank for its Officers’ Wrongdoing.
The law confers no authority on corporations to do
wrong. Every reasonable act is, therefore, technical
ly beyond the power of a corporation; nevertheless,
the banks are liable for the acts of their officers to the
same extent as individual principals are liable for the
acts of their agents. A bank may, therefore, be re
sponsible for malicious prosecution.
Dower Cattle Co. v. Des Moines Natl. Bank, 98 N.
W., 918.
A bank, however, is not liable for the wrongful act
of an officer outside the scope of his authority; if he
should go beyond the reigns of his duties and of his
own will do an unlawful thing, he would be person
ally liable, but not the bank. Although we must add,
if a bank is benefited by the wrongful act and sanc
tions it or accepts the benefit, the bank is liable as
well as the wrongdoer himself.
FIRST NATIONAL BANK, ROCK RAPIDS,
IOWA, SHOWS STEADY GAIN.
The First National Bank of Rock Rapids, Iowa, has
been undergoing remodeling for the past few months
and at the present time presents a very splendid ap
pearance.
The capital of the Bank of Rock Rapids was origin
ally $25,000. _ When it was organized as a national
bank the capital was increased to $50,000. In 1914 it
was increased to $100,000 and at the present time the
capital is $150,000.
The growth of the bank has increased in deposits
in the last fourteen years three and one-half times.
The present officers of the bank are: Chas. Shade,
president; G. A. Manwaring, vice-president, and E. L.
Partch, cashier.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
H E storage File that fits Y O U R
records and Y O U R bank, combines
space-economy, strength, durability and
lightness with the attractive appearance of
baked-on Olive-Green Enamel. T h e tw odrawer check and deposit-ticket Unit is
only one o f the
T
Seven S izes of
B ak er-V aw ter Steel Storage Units.
In one rigid stack you can place one-drawer letter
size units, two-drawer units, and four-drawer card units,
one on top of the other, and they interlock automatical
ly and securely. T h ey are roomy and strong and they
look good in stacks. Y o u know that Baker-Vawter
supplies are dependable.
T h e seven sizes—one to fit every record econom
ically—insure uniformity in your storage file, and give
protection to the records you can’ t insure but should
protect in a convenient place as long as useful.
Get ahead of transfer time-order
your storage units by the stack-six
letter units $15 or $2.50 each, f. o. b.
either factory. Order today.
BAKER -VAW TER C O M P A N Y
Bank Loose Leaf and Steel Filing Supplies
Benton Harbor, Mich.
Holyoke, Mass.
Ask for Storage Unit Circular No. N B 1510
28
THE
Farm
NORTHWESTERN
M ortgage
BANKER
November, 1915
D ep artm en t
In this department the various phases of the Farm Mort
Farm Mortgage Bankers’
ers Loan and Mortgage
gage business are discussed, as it is our desire to bring to
Association has Inter
C o m p a n y of Billings,
you all the helpful suggestions and ideas possible along this
esting Convention.
Mont., a large farm mort
line. We shall be glad to have you ask any questions con
At the second annual
cerning Farm Mortgages that may be puzzling you. Also
gage banking establish
we shall be glad to have you express your opinions on any
convention of the Farm
ment, including among its
particular subject along this line in which you are inter
Mortgage Bankers Asso
stockholders, bankers and
ested. Address your letters to “ Farm Mortgages,” North
ciation of America, many
ranchmen in all parts of
western Banker, Des Moines, Iowa.
interesting a d d r e s s e s
the state, was organized
were given. Pres. F. W . Thompson’s discussfon of in 1912. For the active management of its affairs the
the rural credits bill caused considerable discussion. new company brought in, from St. Paul, Mr. Frank
He said, in .part :- “ The proposition of lim iting the O ’Meara, vice-president, who had then had more than
federal reserve board, to thé effect that farm loans, to twenty-five years of experience in banking, real es
the district in which it was located and placing a limit tate and farm loan lines in Illinois and Minnesota. Its
of 5 per cent, above which no bonds-could be issued, president, Mr. T. A. Snidow, is a Montana ranchman
would make subscription to the capital stock of the and stockman, who is also extensively connected with
federal land banks doubtful.
banking interests in the state. Mr. Lee N. Goodwin,
Rural credit prospers only upon the same funda secretary, was for years the cashier of the old Second
mentals as all credit. A farmer because he is such is National Bank at Aurora, 111., and later for several
not entitled to any more consideration than the mer years was identified with the banking business in Mon
chant or manufacturer. W e should urge upon the na tana, where he lived for some eight years prior to his
tional congress to refrain from attempting to build a connection with the Bankers Loan and Mortgage Com
wall around districts in which loans can be considered, pany. Further carrying out its idea of including on
and to give the borrowers of remote sections a chance its official roster both the farmer and the banker, Mr.
of submitting their security to the various districts in Herman J. Witt, a retired ranchman, was elected
which great accumulations of capital are lodged.”
treasurer of the company. The assistant treasurer and
The officers elected for the ensuing year resulted in title examiner, Mr. Clyde McLemore, is an attorney
the re-election of President Thompson and Sec’y H. and has had two years of commercial banking experi
M. Hanson of Chicago. The vice-presidents chosen ence.
are : O. M. Corwin of Minneapolis, J. E. Maxwell,
With two salaried inspectors and an adequate quota
Kansas City, and K. N. Robins, Rochester, N. Y.
of office help, with a capital stock of a half million,
Bankers Loan and Mortgage Company of Billings, of which $350,000 has been paid in, and with capable
Mont., Making Excellent Growth.
and experienced officers, the company is well equipped
The old school geography gave one the impression to take care of its rapidly growing business.
that, outside of her mining industries, Montana was
Rural Credits.
fit for nothing but stock grazing. It was not then
The following interesting address was given by H.
realized that she had 30,000,000 acres of farming lands, S. Van Alstyne, president of the Gilmore Exchange
whose per acre production, according to U. S. Agri Bank, Gilmore City, Iowa, before the Farm Mortgage
cultural Year Books, now exceeds those of the better Bankers Convention at St. Louis:
known central states. It is difficult for us who have
“ The question of rural credits is broad and of vital
apathetically accepted the old geography’s statements interest to all. Land is the fundamental basis of
on Montana as truth to reconcile them with the fact value, and all life and all wealth came from it. No
that at the San Francisco fair she captured more prizes argument is necessary to show the importance of an
for agricultural exhibits than any other state.
adequate system of credit adapted to the economic
<With some knowledge of the agricultural possibili conditions and social requirements of the actual farm
ties of Montana, and with a desire to serve as a mid er.
dle man between the thousands of incoming farmers
Rural credits may be properly divided into two
and the eastern investors in farm mortgages, the Bank parts— land credit and personal credit—and are per-
This is to remind you that the
Leavitt & Johnson National Bank
and
Farmers Loan and Trust Company
of Waterloo, Iowa, are now well established in their new home and are better
prepared than ever to do a general banking business and to make and sell first
mortgage loans and other high grade investments.
W e solicit your business.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
November, 1915
THE
NORTHWESTERN
BANKER
29
W a n t e d —Farm Mor t gages
W ”e invite bankers to correspond with us relative to the making
or purchase of first mortgage loans in desirable farming districts
of Minnesota, North and South Dakota.
Applications considered, accepted and closed with our own
funds, at current rates, without delay.
T h e Minnesota Loan and Trust Com pany
405 Marquette Avenue, M I N N E A P O L I S
Affiliated with the NORTHW ESTERN N ATIO N AL BANK
haps equally essential to the welfare of the farmer.
The chief source of land credit money is from foreign
trust funds, while personal credit is usually furnished
locally. My remarks will chiefly concern land credits.
In approaching this subject from the standpoint of
the local middle man, there are some salient points
which should be kept in mind.
W e often see the farmer referred to as a class. This
would not be broadly correct in America, although per
haps true in many countries, or locally in some parts
of this country.
In America this class would be so broad as to be
almost cosmopolitan. W e find the descendant of the
man with the hoe, who has come to this land of prom
ise, with his heritage of industry and economy, as his
chief asset, the land owner of independent fortune, and
the college graduate, working side by side, and per
haps with equal success, in the final accounting.
Napoleon said, “ America is a fortunate country—
she grows by the follies of the European nations.” In
the past this has been largely true, for since the land
ing of the Pilgrims, when the independent-minded,
progressive foreigner found his condition intolerable,
either from temporal or spiritual oppression, has been
making his way to this land of opportunity, and has
given us a sturdy cosmopolitan citizenship, which can
not be fairly compared with any other.
America has been aptly called the melting pot of the
nations. The evolution of the American people has
given us the most virile, active ordinary citizen that
it is the good fortune of any nation to possess. W e
can show a greater per cent of what might be called
middle-class people, who have a larger measure of
energy, initiative, and broad intelligence, than any
other people on earth.
America has given the world the first successful
popular government, and has evolved business meth
ods which have been reasonably well adapted to the
people and the conditions.
In a commercial community credit reaches and af
fects its very existence. For many years our commer
cial banking system has been regarded as archaic and
cumbersome— and to meet this we have now estab
lished the federal banks.
It is contended by some that our land credit system
is prejudicial to the best interests of the farmer. If
this be true, it is serious and should be corrected as
speedily as possible.
It is doubtful if any revolutionary system could be
successfully thrust upon our people by legislative fiat,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
as was done when the German Landshaften was es
tablished.
Our government had its foundation in the desire for
personal liberty, and this ideal has been a potent fac
tor in shaping the character of oiir people.
Nearly all the suggested rural credit plans are adap
tations of the European credit associations, and their
feasibility is of most doubtful value at this time. These
rural banks or associations involve a larger degree of
co-operation than is compatible with our ideals. There
would be a general prejudice based on the idea that
no good prosperous farmer would join, and a credit
association composed of only poor farmers would in
sure its own failure.
Moreover, we find that even in Germany, the cradle
(Continued on page 43.)
FOR SALE
Western Farm Mortgages
representing not to exceed 50% of the actual
cash value of improved farms in the best
agricultural districts of Montana and
Wyoming. Every loan offered is a com
pleted loan, in which we have invested our
own funds after an inspection by our own
salaried inspector.
Correspondence solicited
Bankers Loan and Mortgage Company
Billings, Montana
CAPITAL $500,000.00
Incorporated under the laws of Montana
OFFICERS:
T. A. SNID0W, President
LEE N. GOODWIN, Secretary
FRANK O ’MEARA, Vice-President
HERMAN J. WITT, Treasurer
CLYDE McLEMORE, Asst. Treasurer
30
THE
NORTHWESTERN
BANKER
November, 1915
For Bankers and Their Wants
This department of T H E N O R T H W E S T E R N B A N K E R is
to assist SU B SC R IB ER S in obtaining goods or service hard
to find. It is free. Use it. A S K US, as we can tell you
where to buy anything you need in your bank or for your
bank. T E L L US, as your “want” will be published under
the above heading free of chrarge. In answering classified
advertisements which have key numbers please enclose a
two-cent stamp. Th is is used to forward your letter.
HOW THIS DEPARTMENT GIVES YOU REAL
SERVICE.
This is a regular department of TH E N O RTH
W ESTERN BANKER, to assist subscribers in obtain
ing goods or service hard to find. Institutions seeking
high-grade men and bankers seeking a better connec
tion should T E L L US—as your “ want” will be pub
lished under the above heading free of charge. It is
the direct route to securing the position or man you
desire.
ASK US, as we can tell you where to buy anything
you need in your bank or for your bank, including bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
fixtures, safe deposit boxes, vaults, metal furniture, the
service of bank architects and builders, typewriters,
adding machines, ledger and bookkeeping systems,
electric signs, advertising novelties, calendars, check
protecting machines, books on banking and banking
law, safety paper, lithographed checks and drafts, serv
ice of certified accountants, advertising service, fidelity
and surety bonds, burglary insurance, life insurance,
electrical burglar alarms, accident insurance, phono
graphs, dictating machines, the best service from city
banks and correspondents—in fact, ASK US about
anything you want to buy or any service you wish to
secure.
November, 1915
THE
NORTHWESTERN
BANKER
W A N T E D —The right men to take over control of a
western bank doing a Savings, Title & Trust business.
Excellent location and patronage, good deposits, val
uable charter. Will require around $200,000. Have
other openings in various states, for bankers of large or
small means. Write me if personally interested. H. W .
Long, 1005 Haas Bldg., Los Angeles, Call
W A N T E D — Position in country bank by young
man who can invest $1,000 or $2,000. I am 23 years
of age, in good health, protestant, business college
graduate. Best references. Address 1957, Northwest
ern Banker.
K N O W A GOOD MAN available for cashier ; splen
did record; experienced banker. Address 1958, North
western Banker.
W A N T E D — Position as cashier in country bank by
keen, aggressive young man, 30 years old, married;
12 years’ experience in city and country. A -l réfer
ences. Can invest $5,000. Iowa or Illinois preferred.
Address 1959, Northwestern Banker.
SPECIALIZIN G ON V A U L T EQUIPMENTS,
vault doors, safe deposit boxes, steel filing devices in
standard units and built to order. Safe deposit boxes,
$1.90 a box. Chas. Stayman, Agt., Ft. Dodge, Iowa.
FOR SALE— Controlling interest in a $10,000 bank
in a small town in western Iowa. Only bank in town.
Must be German and married to comply with wishes
of the minority stockholders. $10,000 to $15,000 will
handle it, including cashier’s residence. Paper all good
and deposits $75,000. Address 1960, Northwestern
Banker.
. .
FOR SALE— Remington-Wafil adding and sub
tracting typewriter, regular width. One seven-wheel
totalizer. Outfit never used. Cost $250, will sell at
$150. George C. Maither, Mgr., Whitehead & Hoag
Co., 822 Hubbell Bldg., Des Moines, Iowa.
Secured merchants1 Notes
W e can offer paper possessing the following features:
Makers long established and well rated.
Amounts of $1000 to $5|000; time four or six months.
Discount rate 6 per cent to 7 per cent.
Notes secured by customers’ notes at margin of 50
per cent or more taken for the sale of merchandise to
retail customers.
Deposits of collections made in New York exchange
weekly or semi-monthly, equal to average deposit (not
subject to check) of 20 per cent or more.
Send for Circular S. N. and list of offerings.
WM. A. LAMSON & CO.
Established 1904
60 W all Street
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Commercial Paper
N ew Y ork
Fulton Bank, Fulton, Illinois
Planned, Built and Equipped Under One Contract
BUILD
Without Friction
h$M
HEN a bank assigns the
construction of its build
ing to M O O R M A N ; the
entire responsibility for its suc
cessful completion is placed up
on a capable, efficient organiza
tion, developed through experi
ence and specializing on this
one thing.
W
The plans and specifications are
clear and concise.
The work progresses swiftly and
accurately.
Materials are ready when needed.
The whole work is carried out by
skilled workmen who under
stand the plans and know the
peculiarities of bank work.
The building is turned over to the
banker a complete structure in
every respect, ready to begin
business.
W e have prepared an interesting book of
bank buildings that will be sent free to bank
ers upon request.
A . M oorman Sc Company
Saint Paul, Minnesota
31
32
THE
NORTHWESTERN
BANKER
November, 1915
W E
B O N D
more people than any other company in the world
N A TIONAL
S U R E T Y
C O M P A N Y
N ew Y ork
FIDELITY AND SURETY BONDS and BURGLARY INSURANCE POLICIES
Iowa Bankers Association recommends theNational Surety Company for the business
of the banks
A ssets over $ 7 ,0 0 0 ,0 0 0
A m erica 's Leading Surety Com pany
Place all o f your Burglary Insurance and Bonds through the
IOWA B A N K E R S
ASSOCIATION
P. W . HALL, Secretary
DES
MOINES
jiiiiiiim iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiim iiim iiiiiiiiim iiiiiiiiim im iiiiiiiiiiiiiiiiiiiinniinnnn,,
IOWA
W AVERLY SAVINGS BANK, W AVERLY, IA.,
HAS ELEGANT NEW HOME.
The Waverly Saving’s Bank of Waverly, Iowa, re
cently held a formal opening, at which time many
friends viewed the beautiful new home of the bank.
There was orchestra music throughout the day and
unique souvenirs in the form of combination pen and
pencil put up to represent army cartridges, together
with flowers and rare bulbs were given out during the
day.
The new building is modern in every respect and
contains the most up-to-date equipment.
The present officers of the bank are: A. J. Wile,
president; F. C. Meyers, vice-president; W . H. Bab
cock, cashier. The directors are: Wm. Shanewise,
F. C. Meyers, A. J. Wile, E. M. Reeves, John Oltrogge,
H. G. Nichols and Henry Cretzmeyer.
DR. J. H. NOYES ELECTED PRESIDENT OF
THE OGDEN STATE BANK, OGDEN, IOWA.
At a recent meeting oi the stockholders of the Og
den State Bank, Ogden, Iowa, a complete reorganiza
tion was undergone.
The officers elected were : Dr. J. H. Noyes, presi
dent; H. R. Eaton, vice-president; William Jones,
cashier, and Arnold Boehm, assistant cashier.
Dr. Noyes has long been connected with this insti
tution, first as a stockholder, then later director, vicepresident and for the past several years has been its
active president.
The bank has made great progress and at the pres
ent time is in a very flourishing condition.
HARRY T. BLACKBURN, PRESIDENT OF THE
IOW A BANKERS ASSOCIATION, NAMES
DELEGATES TO INTERNATIONAL
TRADE CONFERENCE.
Pres. Harry Blackburn of the Iowa Bankers Asso
ciation has appointed a committee of bankers and
business men of Iowa to represent the association at
the International Trade Conference of the National
Association of Manufacturers of the United States to
be held soon in New York City.
The committee consists of J. H. Cownie, Phil
Schmitt of Des Moines, A. F. Balch, president of the
Marshalltown State Bank, and E. L. Siverly, cashier
of the Union National Bank of Ames, Iowa.
Methods of meeting changed trade conditions be
cause of the war will be discussed, and suggestions
advanced as to how to meet the new changes after the
war.
...DIRECTORS...
C. F. A L D E N
L A F A Y E TTE LAM B
G. E. L A M B
S . R. S H A M B A U G H
T . M. G O B B L E
D A N IE L L A N G A N
L. C. E A S T M A N
C. B. M IL L S
J . H . IN G W E R S E N
T h e officers of th is bank are
never too busy to a n s w e r q u e stio n s or to reply to letters.
It
is th e ir a im to make the bank
of real service to its frie n ds and
patrons.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J H. INGWERSEN. President
C. F. ALDEN.
L. LAMB.
C. B. MILLS. Vice-Prendenu
W . W .C O O K . Cashier
J. L. BOHN.SON. Asst. Cashier
.
C. S. HARRIS. Asst. Cashier
PEOPLES T R U ST
& S A V IN G S B A N K
: •' A •'
CLIN T O N , IO W A
' '•jf • .
Capital Surplus -
• "•
$ 3 0 0 .0 0 0 .0 0
$ 3 0 0 ,0 0 0 .0 0
An Up-to-date, Conservative,. Commercial
and Savings Bank that Makes a Specialty of
Collections and Bank Accounts.
Largest Bank in Clinton
County
-,
What W e Do:
A c c e p t bank a cco un ts and pay
interest on average balances.
Pay 4 per c e n t Interest on S a v
ings
A c c o u n ts , c o m p ou nd e d
s e m i -a n n u a lly .
M ake c o lle c
tion s as e c o n o m ic a lly as any
bank in Iow a. A c c e p t a c co u n ts
su bje ct to cheque.
W e w e lc o m e an o p p o rtu n ity to
serve you in any d e p a r tm e n t
of the b a nking business.
THE
November, 1915
NORTHWESTERN
33
BANKER
M E R C H A N T S NATIONAL BAN
CEDAR RAPID.?, IOWA.
'W e are confident that you will be so well pleased with
the attention and service that you w ill receive at this old es
tablished bank, that you w ill be glad to be one of our regu
lar customers.
A strong directorate and an able executive staff assure
wise management and prompt service.
Resources over $8 ,000,000.00
THE SECURITY TRUST AND SAVINGS BANK
OPENS AT FORT DODGE, IOWA.
The Security Trust and Savings Bank, with a paidup capital of $75,000, has recently opened its doors for
business at Fort Dodge, Iowa.
E. G. Larson, who has been in Fort Dodge since
1868 and has been identified with many interests there,
is president of the new institution. Dr. W . F. Carver
is vice-president and G. P. Allard, for twelve years
paying teller for the First National Bank, is the cash
ier. Ben P. Larson is the assistant cashier. The
bank has purchased a three-story brick building.
making arrangements to remodel their building, which
they hope will be completed by January 15, 1916.
The front of the building will be of ivory color terra
cotta. The entrance will be made into a vestibule,
which will lead back about seventeen feet, and the
staircase to the rooms above will commence at that
place. The front plate glass now in the building will
be swung around to the west side. The vestibule will
be entered through a grilled door and will lead into the
main body of the bank building, where the counters
and the lobby will be arranged. The furnishings will
be of mahogany and Italian marble.
BRANDON STATE SAVINGS BANK, BRANDON,
IOWA, ERECTS NEW BUILDING.
. The Brandon State Savings Bank of Brandon, Iowa,
is planning to erect a new home, which will be of brick,
42x60 ■feet, two stories and a- basement. The bank
portion of the building will be entirely fire proof. The
first floor will include the counting room, patrons’ cor
ridor, currency and safety deposit vaults, directors’
room and president’s room.
The officers of the bank are: R. F. Clarke, presi
dent; Theodore Peck, vice-president; W . W. Bain,
cashier; J. D. Nabholz, F. A. Albert, R. H. Jamieson
and R. A. Cook, directors.
MAYNARD SAVINGS BANK, MAYNARD, IOWA,
HOLDS ANNUAL STOCKHOLDERS’
MEETING.
The annual meeting of the stockholders of the May
nard Savings Bank of Maynard, Iowa, was recently
held in the new building of the bank. The following
officers were elected: A. H. Miehe, president; R. H.
Creamer, vice-president; E. F. Warnke, cashier, and
Walter Buenneke, assistant cashier.
The board of directors elected are the following:
A. H. Miehe, R. H. Creamer, A. L. Evans, John Meyer,
John Miehe, L. D. Rowley and F. H. Schmitt.
The cashier’s report showed that the bank is in a
flourishing condition. Capital, $25,000; undivided
earnings, $19,000, and deposits, $170,000, making a
splendid gain of $20,000 since a year ago.
CITIZENS SAVINGS BANK, SIGOURNEY, IA.,
TO REMODEL THEIR BUILDING.
The Citizens Savings Bank of Sigourney, Iowa, are
¡BLACK HAWK
NATIONAL BANK
C A P IT A L A N D SURPLUS
$250,000.00
li
DR. F. W. POWERS, President
^
CHAS. W. KNOOP, Cashier
| | H. E. RUGG, Asst. Cashier
¡¡g o
0
I i
p e p
r C I l
P E N T flN
U t i l 1 U H
‘T h e B a n k o f S ta b ility a n d P r o g r e s s ”
R A I A N P C Q
D H L h H u C O
Waterloo, Iowa
II
ii
fo r rese rv e o f bank s is paid b y this b an k , w hich i t is enabled to Ûi
sa fe ly pay b y reason o f its location in a th riv in g industrial c e n te r p | |
O u r o rgan ization and eq u ip m en t em b races th e la test and b est m ethods o f tra n sa ctin g all b ra n ch es o f the b a n k in g
b u sin e ss. C o rresp o n d en ce or a p erson al in terview w ith b ank ers solicited .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A
m
34
THE
NORTHWESTERN
BANKER
November, 1915
I
§§
THE CENTRAL STATE BANK
DES MOINES, IOWA
Capital $250,000.00
Surplus and Profits $250,000.00
OFFICERS
S I M O N C A S A D Y , President
H . B . H E D G E , V ice President
J . B . M c D O U G A L , A ss’t Cashier
G R A N T M c P H E R R I N , Cashier
F R A N K C . A S H , A s s’t Cashier
REMEMBER OUR FOUR CARDINAL PRINCIPLES
Absolute Safety.
Courteous Treatment to All.
Consistent Liberality.
Promptness and Execution.
SEC’Y P. W. HALL URGES FARMERS NOT TO
FEED SOFT CORN TO THEIR STOCK.
A warning to Iowa farmers against attempting to
fatten cattle on soft corn has been issued by Sec’y P.
W. Hall of the Iowa Bankers Association. Instead,
farmers are advised to buy young or growing stock or
thin stock, which, Mr. Hall says, can be carried
through the winter profitably on soft corn.
“ About ten years ago,” says Mr. Hall, “ much of the
corn in Iowa was soft, and northwestern Iowa had
practically no corn that matured. I was in the bank
ing business in Sheldon at that time, so that what I
know about soft corn was learned in the school of ex
perience. A large number of our farmer customers
bought heavy cattle, expecting to fatten them on the
soft corn and thus get value out of their crop, but while
the cattle seemed to do very well for about thirty days,
it was found that after that length of time they put
on no more fat than they would had they been fed on
soup. The result was that the farmers who tried this
experiment with heavy cattle lost their time and their
corn crop.
“ I am suggesting to bankers that they advise their
farmer customers not to buy heavy cattle with the
thought in view of fattening them on immature corn
alone, as after about thirty days’ feeding on soft corn,
ripe or mature corn must be used to finish the cattle,
OFFICERS
CH AS. SH ULER,
P resid ent
and I believe that feeders have had the same experi
ence with hogs that they have had with cattle.
Explains Soft Corn.
“ Experienced feeders know the difference in the
food value of soft and hard corn. The Iowa Agricul
tural College, from its experiments in feeding, makes
the following statement:
“ ‘The term “ soft corn” is very confusing and mis
leading. In some sections of the country corn con
taining little if any more than the usual amount of
moisture was, in 1902, termed “ soft” corn. “ Soft”
corn in other sections early in the season contained as
high as 50 or 60 per cent moisture. This being the
case, it is not hard to appreciate the many difficulties
in conducting a test which will be applicable to all
sections of the country.’
“ Even under the most favorable conditions many
men fail who have not had previous experience in feed
ing fat cattle, and unusual precaution' must be taken
by such persons this year. Not for a moment do I
want to give the impression that I underestimate the
value of the soft corn this year, but I do think that a
little warning should be given to farmers who have
had no experience in trying to put fat on heavy cattle
or hogs by feeding them only corn which has not ma
tured, as we do not want them to have the bitter ex
perience which hundreds and probably thousands of
Iowa farmers had about twelve years ago.”
Capital Stock
$150,000.00
Surplus
150,000.00
Undivided Profits 100,000.00
W . H. G E H R M A N N ,
V ic e -P re s id e n t
P. T . W A L S H ,
V ic e -P re s id e n t
F R A N K B. Y E T T E R
C ashier
L O U IS G . B E IN ,
A ssistant C ashier
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Federal Reserve Bank of St. Louis
W e invite the business
of banks, bankers and
m erch a n ts d e s i r i n g
prompt, efficient and
satisfactory service.
THE
November, 1915
NORTHWESTERN
BANKER
35
Davenport Savings Bank
DAVENPORT, IOWA
O FFICE R S
JO H N F. D O W , President
A U G . E . STEFFEN, Vice-President
OTTO H IL L, Cashier
S. B LA CK M A N , A ss’t Cashier
$ 300,000.00
420 ,000.00
4 ,200,000.00
Capital
Undivided Profits
Deposits
:
:
D IR E C T O R S
Per Cent Interest Paid on D e
posits: Money Loaned on Real
Estate Security in the State of Iowa.
4
:
J. H. RUHL
M. D. PETERSEN
A. E. STEFFEN
THEO. KRABBENHOEFT
J. F. DOW
W. H. GEHRMANN
W. H. WILSON
OTTO HILL
JNO. W. GILCHRIST
IOW A NEWS AND NOTES.
Will Dunlap has taken up the work of assistant
cashier at the Farmers and Merchants National Bank,
Jefferson, Iowa.
Ralph Jordan, banker of Sutherland, Iowa, died re
cently in a Chicago hospital. 2 Mr. Jordan was a man
most highly esteemed.
The Peoples Savings Bank, Vinton, Iowa, have just
completed the installation of a very fine set of safety
deposit boxes in their vault for the use of their cus
tomers.
The First National Bank building of Emmetsburg,
Iowa, which has been remodeled, is now being occu
pied, and it is not only a credit to its owners, but to
the city. It is beautiful and complete in every detail.
The furnishings are high class and it is a most invit
ing place in which to do business.
The interior of the Terril Savings Bank, Terril,
Iowa, is now putting on a metropolitan appearance,
all on account of the installation of new fixtures
throughout the entire building.
C. W. Ennis recently received the contract for the
new Citizens Savings Bank at Sigourney, Iowa.
The election of bank directors for the Ainsworth
Savings Bank, Ainsworth, Iowa, was held recently.
W. A. Walker handed in his resignation as the presi
dent of the bank, feeling that the responsibility was
too much for him in his declining years. Mr. Walker
has served his twenty-fifth year as a member on the
official board and the rest of the members regretted
to have him depart. A. E. Sands was elected to take
his place. The election of Mr. Sands was a wise one,
as Mr. Sands will fill the place with honor to himself
and the bank.
The Dallas County Savings Bank, Minburn, Iowa,
held their annual meeting recently. A dividend of 5
per cent was declared, which was a most satisfactory
showing for the first year of the organization. The
total of the deposits during this time has reached $92,000 and the total assets of the bank are $111,000. The
bank enjoys the distinction of having the largest num
ber of stockholders of any institution of its kind in the
county; they number fifty-two. The officers chosen
are as follows: E. D. Carter, president; D. J. Storm,
vice-president, and N. P. Black, cashier.
A new bank has been organized at Quimby, Iowa,
by Fred M. Buel, formerly of Randolph, Neb. The
institution will have a paid-up capital of $25,000.
A new bank is being organized at Amber, Iowa.
1
The Des Moines National Bank
Des Moines, Iowa
T h e policy o f this bank is to cultivate helpful business relations
with its correspondents and to render at all times the service which
their needs demand and which our equipment insures.
A n expe
rience extending over thirty-four years in catering to such needs has
provided a broad understanding o f the requirements in this field.
W e cordially invite a share o f your business.
Capital and Surplus $ 900,000
Resources over
8,000,000
Arthur Reynolds, President
John H. Blair, First Vice-President
John A. Cavanagh, Vice-President
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C. A. Barr, Cashier
John H. Hogan, Assistant Cashier
A. J. Zwart, Assistant Cashier
i
36
THE
NORTHWESTERN
BANKER
November, 1915
The Seaboard National Bank
Of the
Capital $1,000,000
-
-
-
City
of
New York
Surplus and Profits (earned) $2,850,000
S. O. BAYN E, President
O. O. THOMPSON,
B. L. GILL,
Vice-President
Vice-President
W. K. CLE VE R LE Y, Cashier
L. N. DeVAUSNEY.
J. O. EM ORY,
O. M. JEFFERDS,
Asst. Cashier
Asst. Cashier
Asst. Cashier
8, G. NELSON,
Vice-President
Accounts of Banks and Bankers from the Middle West Especially Solicited on most Favorable Terms
|
At the end of their first week of business in Fort
Dodge, Iowa, the new Webster County Trust and Sav
ings Bank showed a total deposit of $48,551.83 and
loans at $22,623.
I O W A
.............................. .........iiiiiiiii .................. ................................. iiiiiiiii ......... ................................. ....................... uiiiiiiiliiiilliiiiiiiinn
C. A. Knudson has sold his interest in the Dallas
Bank, Dallas, Iowa, to J. B. Nelson of Chetopa, Kan.
At a meeting of the stockholders of the Ogden State
Bank, Ogden, Iowa, held recently, a complete reorgan
ization was made. The directors elected at the meet
ing w ere: Dr. J. H. Noyes, Dr. E. H. Melott, Claus
Jones, Rev. A. J. Boehm, Hans J. Hagge and H. R.
Eaton. The directors in turn elected the following
officers for the ensuing year: Dr. J. H. Noyes, presi
dent; H. R. Eaton, vice-president; William Jones,
cashier, and Arnold Boehm, assistant cashier. A re
port was submitted by the management of the bank,
which was thoroughly gone over and commented upon
as being satisfactory in every respect.
A new bank has been organized at Rowan, Iowa.
The contract for the new bank building to be erected
by the Citizens State Bank, Clarion, Iowa, has been
let to C. E. Atkinson of Webster City, Iowa.
The First National Bank, Le Mars, Iowa, is having
a large electrically lighted clock with chimes erected
on the Main street side of their building.
■ The Farmers Savings Bank, Havelock, Iowa, opened
its doors for business recently. The officers are: S.
H. Gill, president; G. A. Speer, vice-president, and
Benj. Leitch, cashier.
E. A. Corfe has accepted the assistant cashiership
of the Union Savings Bank, Union, Iowa.
William J. Siever, cashier of the Commercial Ex
change Bank, Mason City, Iowa, has commenced the
erection of a residence at 333 West Twelfth St.
John Leavitt, son of Roger Leavitt, recently came
from Napavine, Wash., where he has been cashier of
the State Bank for two years, to accept a position in
the Cedar Falls National Bank, Cedar Falls, Iowa.
WHEN YOU NEED A -
=T
BOOKKEEPER, STENOGRAPHER,
or office assistant trained in the fundamentals
of banking and business management, write the
Cedar Rapids Business College
CEDAR RAPIDS, IO W A
Iow a’ s foremost business educational institution. Estab
lished 1879. Enrolls students from all parts o f the cen
tral west.
Employment service capably managed, and recom
mendations made with careful discrimination.
No
charge to anyone. A part of our service.
Complete catalog mailed upon request
The Com m ercial National Bank
W ATERLOO, IOW A
Capital and Surplus, $500,000
O F F IC E R S
W . W . M I L L E R , President
F . C . P L A T T , Vice-President
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
E . W . M I L L E R , Vice-President
G E O . E . L I C H T Y , Vice-President
H . C . S C H U L T Z , Cashier
H . W . W E N T E , Ass't Cashier
November, 1915
THE
NORTHWESTERN
37
BANKER
Several parties interested have taken steps to estab
lish a state bank at Strahan, Iowa. Among those in
terested are Mr. Pickard of Benson, N eb.; T. M. Brazzleton, Charles Gipe, Zeno Bass, Jr., and F. G. Hillyer, of Strahan, and C. E. Harden of Glenwood.
J. H. Brogmus, who has been employed in the Citi
zens Bank at St. Ansgar, Iowa, for four years, has
taken charge of the Farmers and Merchants Bank of
Grafton, Iowa.
The Continental and Commercial National Bank,
Chicago, 111., has been approved as reserve agent for
the First National Bank, Stanton, Iowa.
Peoples Savings Bank
The Marble Rock Bank, Marble Rock, Iowa, has in
stalled the Baker-Vawter ledger system and the Bur
roughs posting machine.
D E S M O IN E S , I O W A
E S T A B L IS H E D
1890
The three banks of Odebolt, Iowa, have aggregate
deposits of over $1,000,000.
CAPITAL (Paid in) $50,000.00
CAPITAL (Earned) 50,000.00 $ 100,000.00
SURPLUS and PROFITS (Earned) 190,000.00
DEPOSITS
over 2,700,000.00
The semi-annual meeting of the State Bank of Waverly, Iowa, was held recently and the business affairs
were found to be in excellent shape. There has been
a great improvement in the business since the last
meeting and a semi-annual dividend of 4 per cent was
declared.
C. H. MARTIN, President
FRANK P. FLYNN
E. A. SLININGER
Vice-President
Cashier
CARL W . MESMER
Assistant Cashier
At a recent meeting of the directors of the First Na
tional Bank, La Porte City, Iowa, C. A. Brust was
appointed a director to fill the vacancy caused by the
removal from the city and the resignation of J. H.
Lunemann. Mr. Brust has been a stockholder in the
bank for some time.
The Farmers and Mechanics Savings Bank was
among the list of Davenport banks participating re
cently in the payment of the largest dividend in the
city’s history. The bank paid a 5 per cent semi-an
nual dividend on a capitalization of $100,000, or a re
turn of $5,000 to the stockholders. The dividend of
the Farmers and Mechanics boosts the total dividend
of the nine banks to $74,000.
Henry J. Howe, president of the Fidelity Savings
Bank, Marshalltown, Iowa, is now recuperating after
his recent operation.
Harry Helscher has been elected assistant cashier
of the Keokuk County State Bank at Sigourney, Iowa.
Accounts of Banks and Bankers Solicited
SECURITY
NATIONAL BANK
SIOUX CITY, IOWA
Capital and Surplus $500,000
\
W . P. M ANLEY, President T. A. BLACK Vice-President
C. W . BRITTON, Cashier C. G. CUMMINS, Ass’t Cashier
IOWA NATIONAL BANK
FLEMING BUILDING. DES MOINES, IOWA
STATEMENT SEPT. 2, 1915
L IA B IL IT IE S .
Capital Stock ..............................................................$1,000,000.00
Surplus andProfits.....................................................
544,437.07
Circulation
.........................................
228,900.00
Dividends Unpaid ...................,................................
14,990.00
Deposits ......................................................................... 7,543,842.49
Largest National Bank
in Iowa. Makes a special
ty of farm loans for its
correspondents.
Write
for rates.
Best service.
$9,332,169.56
R ESO UR CES.
Loans ................................
$6,428,595.31
United States Bonds.............................................
300,000.00
Federal Reserve Bank Stock..............................'
39,000.00
Furniture and Fixtures................
5,000.00
Overdrafts .........................
11,139.14
Cash and Exchange..............................................v 2,548,435.11
$9,332,169.56
j*
H O M E R A. M IL L E R , Pres.
R. L. C H A S E , J R . , Asst. Cashier
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Officers
>
H. S. B U T L E R , Vice-P res.
C . H . S T E P H E N S O N , Asst. Cashier
H. T . B L A C K B U R N , Cashier
J A M E S F. H A R T , Asst. Cashisr
THE
NORTHWESTERN
BANKER
November, 1915
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I
I O W
A
1
......................................................................................................iiiiimiiiiiiiimimm...... iiiiiiiiiiiiiiimmimimiiiiimimiiiiiiimiiiiiin
The First National Bank of Forest City, Iowa, has
taken over the Farmers Bank.
E. Blake Faust, assistant cashier of the Decatur
State Savings Bank, Decatur, Iowa, was married re
cently to Miss Minnie Mitchell.
Ronald Monroe of Leon, Iowa, has accepted a re
sponsible position in the Central State Bank, Des
Moines.
Certain Kinds
of workmanship will
always be a drug on the
market, but the time will
never com e when good
workmanship will not be
at a premium.
W e profess to be mastercraftsmen in our line.
You can make us prove
it by selecting your fall
suit now. 2,000 styles
await your inspection.
The Farmers and Merchants Bank of Greenville,
Iowa, will remodel their building. The new improve
ment will cost $1,000.
An imposing new structure has been completed to
house the Farmers State Bank of Larrabee, Iowa.
John Niland, prominent banker, merchant and one
of the leading citizens of Colo, Iowa, died during the
noon hour while seated at the dinner table with his
wife and children. Mr. Niland had been in his usual
health apparently and death was due to heart failure.
Miss Hermone Heckema resigned her position with
the Sully State Bank, Sully, Iowa.
Fred Schmidt has accepted a position as head book
keeper and teller of the State Savings Bank of Hornick, Iowa.
N IC O L L The T ailor
• W - J e r rents’ Sons »
22 Years at 502 Walnut
DES MOINES. IO W A
H. J. Fichter has been selected as bookkeeper at the
First National Bank, Randolph, Iowa, to succeed Paul
Armstrong.
The First National Bank, Rock Rapids, Iowa, has
completed the remodeling of its bank building. The
entire building has been remodeled and finished in
marble, with tile floors. The improvement made cost
approximately $10,000 and were made under the di
rection of Charles Shade, president of the institution.
The last statements of the banks of Sac county re
veal the fact that there are four and one-half millions
of dollars on deposit in the different banks of the
county.
A District A g e n cy O pen in one o f the M ost Prosperous
Sections o f the U nited States. W i ll C onsider A p p lica
tions From First-class M en O n ly .
B A N K E R S L IF E C O .
D E S M O IN E S , I O W A
I
All the old directors and officers were re-elected at
the annual meeting of the Iowa Savings Bank, Mar
shalltown, Iowa, held recently.
C. L. Isbell is cashier of the new bank which opened
at Dows City, Iowa.
C. A. Frazier has resigned his position in the State
Savings Bank of Carson, Iowa.
C. H. EIGHMEY, President
C. J . COLLIER, Vice-President
B. F. BLOCKLINGER, Vice-Pres.
H. A. KOESTER, Asst. Cashier
Capital, - - - - $200,000
Surplus & Profits, $180,000
First National Bank
DUBUQUE, IOWA
Accounts of Bankers Solicited.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Write Us for Terms
The new Farmers Savings Bank, which it was pro
posed to establish at Rake, Iowa, will not materialize
and the matter has been dropped after everything was
in readiness. Instead, some of the stockholders, rep
resenting the Farmers Trust and Savings Bank of
Buffalo Center, have taken stock in the State Savings
Bank of Rake, which is now being reorganized. A.
Christopherson of Albert Lea has purchased A. A.
Rake’s interests and T. A. Rake will be the manager.
A new bank is to be organized at Knoke, Iowa, in
the near future, and Don Harris of Jolley will be the
cashier of the- institution.
William P. Starr, employed in the First National
Bank of Fairfield, Iowa, was married recently to Miss
Ola E. Hart.
J
November, 1915
THE
NORTHWESTERN
BANKER
39
T i l l . G E R M A N S A V IN G S B A N K
O K
» A T E N P O K T ,
I O W
A
With adequate equipment and exceptional
facilities for handling business in every depart
ment of banking. The German Savings Bank is
in a position to give its patrons the best service.
If you contemplate making a change in your
banking connections, or think of opening a new
account, we would be pleased to confer with
you in person or by letter.
Capital Stock - - $ 600,000.00
Surplus
- - 500,000.00
Undivided Profits 338,000.00
Deposits Over
11,000,000.00
Commercial Accounts
Savings Deposits
OFFICERS
CH AS. N . VOSS, Pres.
H. O. SEIFFERT, Vice-Preo.
ED. KA U FM A N N , Cashier
OFFICERS
F. C. K RO EG ER, A ss’t Cashier
O T T O RIECHE, A ss’t Cashier
C. W . Jensen has sold his interests in the Crystal
Lake Savings Bank, Crystal Lake, Iowa, to Mr. Gabrielson, who has assumed his work as vice-president.
George P. Christianson, former sole owner of the
Randall Savings Bank, Randall, Iowa, and still a
heavy stockholder in the institution, resigned his po
sition as a member of the board of directors and as
cashier. Jonas K. Johnson has been elected as a di
rector to succeed Mr. Christianson on the board and
Mr. Arthur E. Kalseim, who has been connected with
the bank for nearly five years as assistant cashier, was
elected cashier.
The Merchants National Bank, Omaha, Neb., and
the Stock Yards National Bank, South Omaha, Neb.,
have been approved as reserve agents for the Harlan
National Bank, Harlan, Iowa.
The remodeling of the Wooden Savings Bank has
been started and it promises to make that building
one of the finest in Centerville, Iowa.
John J. Allen, for the past six years cashier of the
First National Bank of Burwell, Neb., is at his home
on a farm near Carroll, Iowa, taking a much needed
rest.
The Mechanics and Metals National Bank, New
York, N. Y., has been approved as reserve agent for
the First National Bank, Primghar, Iowa, and the
Northwestern National Bank, Sioux City, Iowa.
The Cedar Rapids National Bank
Cedar Rapids, Iowa
United States D e p o sita ry
Statem ent of Condition, Close of B u sin ess, Sept. 2,1915
Com ptroller’ s Call
_
RESOURCES.
Loans and discounts ..............................................$4,813,845.38
Overdrafts .......................................................
124.22
United States 3% and 4% bonds, at par.’ !
320,000!00
O th e r b o n d s ..............................................................
393 341 55
Stock Federal Reserve Bank .........................
12 000 00
Real estate (bank building) ...........................
16o!ooo!(>0
Cash and due from banks. . . . . . . . . . . . . . . 1,941,825.12
L IA B IL IT IE S .
Capital ....................................................................., .$ 300,000.00
Surplus and undivided
profits, n e t......
138,888.23
Circulating notes ..............
300,000,00
Deposits
..................................................................... 6,902,248.04
$7,641,136.27
$7,641,136.27
National
located in the grain and live stock center of Iowa, offers to banks bankers
corporations and individuals the services of a thoroughly equipped institution.
’
’
ESTABLISHED
A s a Private Bank 1877
A s a National Bank 1887
38 YEARS
Of Continuous, Conservative and S u ccessfu l Banking
O F F IC E R S
RALPH VAN VECHTEN, President
K E N T C.
GEO. B. DOUGLAS, Vice-President
HOMER
ED H. SMITH, Vice-President
M A R T IN
GLENN M. AVERILL, Vice-President
ANNA R.
CHAS. C. KUNING, Chief Clerk
F E R M A N , C a sh ie r ~
P IT N E R , A sst. C a sh ier
N E W C O M E R , A sst. C a sh ier
SM OUSE, A u d ito r
RESERVE AGENT FOR NATIONAL BANKS
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE
40
NORTHWESTERN
November, 1915
BANKER
Scandinavian American National
Bank
MINNEAPOLIS
Surplus $200,000.00
Capital $1,000,000.00
O f f ic e r s
A. UELAND, Vice-President
EDGAR L. MATTSON, Vice-President
GEO. F. ORDE, Vice-President
CHAS. B. MILLS, Vice-President
H. R. LYON, President
E. V. BLOOMQUIST, Cashier
A. E. LINDHJEM, Asst. Cashier
TRYGVE OAS, Asst. Cashier
W. R. MURRAY, Asst. Cashier
W e have exceptional facilities for handling the accounts and business of banks. Our
list of correspondents is growing daily. W e would like to see your name on our books.
........ ..................................»................ ................................................... ......£
M IN N E SO TA
iilililinm ill....... ..............................................................................iillllllllllllllll........I...... .....................................................
THE FARMERS AND MERCHANTS BANK,
VERNDALE, MINN., HAS NEW
QUARTERS.
The Farmers and Merchants Bank, Verndale, Minn.,
has recently opened its new home to the public. The
interior woodwork of the building is finished in ma
hogany to match the furniture and fixtures. The
lower part of the counters and the baseboards in the
lobby are of marble.
Back of the directors’ room is the safe deposit vault,
which contains fifty deposit boxes. The vault proper
contains a triple time lock Diebold safe of the latest
pattern and it is guaranteed to be burglar proof. The
building is built of brick, 30x40 feet in size, with a
full basement.
The officers are: Chas. Swanson, president; E. W.
Dickinson, vice-president, and Robert Brink, cashier.
DR. R A. HILBERT BUYS CONTROLLING IN
TEREST IN SECURITY STATE BANK,
MELROSE, MINN.
Dr. P. A. Hilbert has purchased from John Borgerding the controlling interest in the Security State Bank
of Melrose, Minn. There will be no changes in the
policies of the bank.
The officers of the reorganized bank are: P. A.
Hilbert, president; J. Borgerding, vice-president; N.
Borgerding, cashier; H. Cl Stalboerger, assistant cash
ier. The board of directors is composed of P. A. Hil
bert, John Borgerding, A. Stalboerger, J. Tiedeman,
M. Kleber and H. C. Stalboerger.
ST. PAUL AND MINNEAPOLIS BANKERS EN
TERTAIN GOVERNORS OF TW ELVE RE
SERVE BANKS.
Bankers of St. Paul and Minneapolis recently en
tertained the governors of the twelve federal reserve
banks at a banquet. at the Minnesota Club in St.
Paul. The governors met to discuss the general pol
icy of the operation of the reserve banks and the con
dition of the ninth regional reserve bank in Minne
apolis.
Governor Stronge of the Federal Reserve Bank of
New York was one of the principal speakers.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
W. L. CARY AND L. F. CARY OPEN BANK AT
WELCH, MINN.
W . Leigh Cary and brother, L. F. Cary, have opened
a bank at Welch, Minn., known as the Farmers State
Bank. L. F. Cary has been cashier of the First Na
tional Bank at Walker and has also been connected
with the financial institution at Little Falls. A new
building is to be erected, in which the bank will be
located.
MINNEAPOLIS LEADS NATION IN SCHOOL
SAVINGS.
According to N. F. Hawley of the Farmers and
Mechanics Bank of Minneapolis, and who has been
elected president of the savings department of the
American Bankers Association, Minneapolis leads all
other cities of the country in the number of depositors
and amounts on deposit in school savings accounts.
The banks show an increase of approximately’ $5,000,000 over last year.
One of the principal reforms started by the savings
bank department of the American Bankers Associa
tion is an effort to segregate the savings account to
protect depositors from loss in case of a bank failure.
A law patterned after the Texas statute will be pre
sented to all legislatures within the next two years.
FARMERS AND MERCHANTS STATE BANK,
AITKIN, MINN., BECOMES NATIONAL
BANK.
The Farmers and Merchants State Bank of Aitkin,
Minn., has been converted into a national bank with
the name Farmers National Bank of Aitkin and the
national banking department has authorized its mem
bership in the federal reserve banking" systm.
This is the second national bank in the county. The
affairs are in a growing and substantial condition and
the same competent officers will remain in charge.
The officers are: F. P. McQuillen, president; C. H.
Warner, first vice-president; D. A . Foley, second vicepresident ; W . T. Mount, cashier, and Henry D. Mc
Neil, assistant cashier.
EAST END STATE BANK, DULUTH, MINN.,
OPENS.
The East End State Bank of Duluth, Minm, has re
cently opened for business with a capital of $25,000
and a surplus of $5,000. The officers are: F. S. Gra
ham, president; John Gonska, vice-president; George
M. McCanna, cashier; P. M. Pearce, assistant cashier.
The bank is modern in every respect, being finished
November, 1915
THE
NORTHWESTERN
BANKER
41
The First National Bank
of Saint Paul
Oldest Bank in Minnesota
Capital and Surplus $5,000,000
D eposits o v e r $ 4 5 ,0 0 0 ,0 0 0
R esources
over
in mahogany, and contains the latest kind of steel
safety deposit vaults.
STATE BANK OF COSMOS, MINN., PROSPERS.
The State Bank of Cosmos, Minn., which was estab
lished over a year ago in anticipation of the coming
of the Luce line, is being well patronized. The presi
dent is C. E. Melbye and the cashier is R. J. Neunsinger.
The capital stock is $10,000, the surplus fund is
$2,000 and the deposits are $12,996.29.
FARMERS STATE BANK, MURDOCK, MINN.,
MOVES INTO NEW HOME.
The Farmers State Bank of Murdock, Minn., has
moved into its new home.
The interior of the bank is divided into different
rooms, embracing the lobby, the banking apartments,
the customers’ rooms, the directors’ rooms, the cash
ier’s office and the vault.
The lobby is furnished in mahogany lined with Ital
ian Corrara marble of English vein, having mahogany
$ 5 0 ,0 0 0 ,0 0 0
settee and check desk covered with plate glass. The
floor is tesselated tile and the walls are artistically
decorated.
The growth of the bank has been splendid and the
resources are now $85,000.
DEPOSITS IN MINNEAPOLIS BANKS REACH
HIGH WATER MARK.
The deposits in the Minneapolis banks recently ex
ceeded by $12,000,000 the amount of money that has
ever been deposited there before.
The savings banks show an increase of more than
$25,000 a day since the last call and nearly every state
bank in the city has an increase of from 10 to 40 per
cent.
Ready money for crop movement is attributed as
the cause for a large part of the growth.
A deal has just been closed for the sale of the First
State Bank, New York Mills, Minn., to a company of
farmers of that locality. The bank was owned by the
Merickels of Wadena and was doing a thriving busi
ness.
Continental and Commercial National Bank
OF CHICAGO
Capital, Surplus and Undivided Profits, $ 3 3 ,0 0 0 ,0 0 0
O F F IC E R S
Arthur Reynolds ... .Vice-President
Ralph Van Vechten. .Vice-President
Alex. Robertson...........Vice-President
Herman Waldeck ... .Vice-President
John O. Craft...............Vice-President
GEORGE M. REYNOLDS..................President
James R. Chapman.. .Vice-President
Wm. T. Bruckner... .Vice-President
Nathaniel R. Losch....................Cashier
John R. Washburn;.... Ass’t Cashier
Harvey C. Vernon.........Ass’t Cashier
Geo. B. Smith..................Ass’t Cashier
Wilber Hattery................Ass’t Cashier
H. Erskine Smith.............Ass’t Cashier
Wilson W. Lampert... .Ass’t Cashier
Dan Norman..........Ass’t
Cashier
Geo. A. Jackson................Ass’t Cashier
Accounts of Banks, Bankers, Manufacturers, Merchants and Individuals Invited
Continental and Commercial Trust and Savings Bank
Capital, Surplus and Undivided Profits, $ 5 ,0 0 0 ,0 0 0
Trust, Savings and Bond Departments
O F F IC E R S
George M. Reynolds..............................President
Henry C. Olcott... .Mgr. Bond Dept.
John Jay Abbott.... .Vice-President
Prank H. Jones......................Secretary
Arthur Reynolds.........Vice-President
Wm. P. Kopf................Ass’t Secretary
Robert J. Hercock.... .Ass’t Cashier
Charles C. Willson....................Cashier
Albert S. Martin..............Ass’t Cashier
The Capital S to ck o f this bank ($3.000,000) and the Capital S to c k o f the Hibernian Banking Association ($2.000,000) are
owned by the Stockholders o f the Continental and Com m ercial National Bank o f C h ica g o .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
42
THE
NORTHWESTERN
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M IN N E SO TA
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MINNESOTA NEWS AND NOTES..
The First State Bank of Moorhead, Minn., has in
creased its capital stock from $25,000 to $60,000.
E. A. Boie, for three years state bank examiner, has
accepted the assistant cashiership of the National Citi
zens Bank of Mankato, Minn.
Cyrus P. Brown, vice-president of the First Nation
al Bank, St. Paul, Minn., recently purchased the Gotzian residence on the southeast corner of Portland ave
nue and Mackubin street for $35,000.
Deposits in the Northwestern National Bank, Min
neapolis, recently passed the $40,000,000 mark for the
first time in the history of the bank.
Through the co-operation of a Rochester, Minn.,
bank a savings system has been started in the city
schools of Rochester. One day each month a collector
calls at the several schools for the savings of the
pupils, which are credited to their account at the bank.
The youthful depositors are given a card upon which
stars are pasted showing the amount deposited each
month.
The State Bank of Park Rapids, Minn., has added
a large number of safety deposit boxes to its equip
ment.
Work has been started on the Cobden State Bank
building, Cobden, Minn.
The Ada National Bank, Ada, Minn., moved into its
new quarters recently.
The Farmers State Bank, Pine River, Minn., has
installed a safe. They are perfecting plans for the
erection of their new banking house, which they ex
pect to start next spring. It will be modern in every
respect.
The Farmers and Merchants Bank of Ada, Minn.,
have opened up for business with a capital stock of
$30,000. D. C. Jones is the president; Elmore Jen
kins, vice-president; D. E. Fulton, cashier, and T. T.
Morken is the assistant cashier.
James D. Armstrong was recently elected vice-presi
dent and trust officer of the Merchants Trust and Sav
ings Company and a director of the Merchants Na
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Federal Reserve Bank of St. Louis
BANKER
November, 1915
tional Bank of St. Paul. At the same time Albert T.
Hendrickson was elected assistant secretary and as
sistant treasurer of the trust company.
The new bank at Carlisle, Minn., has opened up for
business with Theo. Fossen as cashier.
Comfortably housed in their new and well-equipped
quarters, the officials of the new Citizens State Bank
of Sauk Rapids, Minn., are looking forward to a most
successful year.
L. F. Cary, formerly cashier of the First National
Bank at Walker, Minn., will open the Farmers State
Bank of Welch, Minn. A building is under construc
tion and will also be the home of the Welch Mercan
tile Co., of which the Cary Brothers have control.
The Citizens State Bank of Osseo, Minn., has opened
up for business with a capital of $15,000.
The new Farmers State Bank of St. Hilaire, Minn.,
has opened its doors for business.
A controlling interest in the Security State Bank,
Melrose, Minn., was purchased from John Borgerding
by Dr. P. A. Hilbert. The transaction also involves
control of the State Bank of Pleona, Mont.
Carl C. Leveranz of St. Paul has accepted a posi
tion with the First National Bank at Ada, Minn., tak
ing the place of T. A. Olson, who will be the cashier
of the new bank at Hendrum.
Minneapolis will have another new financial insti
tution to be known as the Marquette Avenue State
Bank, which will be located at 517 Marquette avenue,
and is expected to be ready for business by January
1st. Marquette avenue will then have, the distinction
of having seven banks. Mark Wilson,Jprincipal fac
tor in a chain of North Dakota banks" will be presi
dent of the new institution. H. E. Fairchild and I. A.
Yarnell, officers of the State Institution for Savings,
will be vice-presidents.
Martin T. Dunn, president of the Citizens State
Bank, Brainerd, Minn., died recently. Mr. Dunn was
fifty-three years old and had been a resident of Brain
erd nine years. W. F. Drews, cashier of the State Bank of Hopkins,
Minn., died recently as the result of a gunshot wound
over his heart which he suffered when he was in a
boat with his wife on a lake near Emily, Minn. He
is reported to have been taking a shotgun from an
other boat and had the tjiuzzle pointed toward him.
It was discharged accidentally.
THE
November, 1915
NORTHWESTERN
43
BANKER
Great W estern A ccident In su ran ce Com pany
DES MOINES, IOW A
Iow a’s Largest and Strongest Health and Accident Company
RESOURCES.
A p p r o v e d S e c u r itie s D e p o s ite d w it h I n s u r a n c e
D e p a r tm e n t s ...............................................................$207,555.05
C ash o n D e p o s it a n d in O ffice ......................................
20.4S6.21
I n t e r e s t A c c r u e d ................................................................
4,987.80
P r e m iu m s in C o u r se o f C o l l e c t i o n ............................. 20,418.97
190.22
H o ld in g A c c o u n t .....................................
L IA B I L I T I E S .
R e s e r v e f o r R e -I n s u r a n c e ...................... ........
R e s e r v e f o r L o s s e s ........................................
R e s e r v e f o r S u n d r ie s ..........................................
S u rp lu s t o P o lic y h o ld e r s
( I n c lu d in g C a p ita l S to c k $100,000.00)
T o t a l ...................................................................
$ 93,601.06
21,853.52
8,972.77
138,210.90
$262,638.25
T o t a l A d m it te d A s s e t s ............................................ $262,638.25
NO CLAIMS DUE AND UNPAID
Write to the Home Office for a Bank Agency Proposition or Appointment as Collector for Your Community.
i
W . J. Browne of Hancock, Minn., has accepted the
cashiership of the Merchants National Bank of W a
dena, Minn.
The Gateway State Bank, Minneapolis, located in
the Temple Court, opened its doors for business re
cently. The new bank is capitalized at $50,000. Roy
Quimby, president of a number of state banks in coun
try towns, is the president.
Blakeley, Minn., is soon to have a new bank.
The second financial institution of Verndale, Minn.,
the Farmers and Merchants State Bank, has opened
for business.
The Scandinavian-American National Bank, Minne
apolis, Minn., has been approved as reserve agent for
the First National Bank, Le Sueur, Minn.
The First National Bank, St. Paul, Minn., has been
approved as reserve agent for the First National Bank,
Breckenridge, Minn.
RU RAL CREDITS.
(Continued from page 29.)
of co-operative banking, the major part of the land
loans are supplied by insurance companies as in the
United States.
A study of the conditions in Germany indicate that
a large percentage of the loans made by the co-opera
tive credit banks are personal loans, approximately
five-sixths of the total volume of business. This sys
tem necessitates an inquisitorial supervision of the in
dividual affairs of the borrower, which would be re
pugnant to the average American. He prefers to get
his loans independently, and is willing to pay the cur
rent rates.
The average American feels that we, the people of
the United States, are the freest, happiest, most pros
perous and independent on earth, and the farmer sure
ly has his full share of these blessings. He is a pro
nounced individualist in thought and action.
Any material change in the laws governing economic
conditions should be approached most cautiously and
not forced.
A history of the development of the co-operative
land banks of Europe would clearly indicate that they
have been a great benefit to the agricultural interests.
However, it does not necessarily follow that the same
methods would meet with like success in the United
States.
The European banks had their inception at a time
of dire distress and abject poverty, and were estab
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Federal Reserve Bank of St. Louis
lished to meet such conditions as have never obtained
here, and might be foreign to our best interests.
While some parts of the United States, possibly the
far east, or south, might find the European systems
practicable at this time, yet it is, very doubtful if any
appreciable number of our middle west farmers would
take kindly to the co-operative system as there in
operation.
Our farmers are too independent. They feel that
they have sufficient individual credit to care for their
needs, and would as a rule prefer to pay the additional
interest rate required on an individual note rather than
join with their neighbors in establishing a co-opera
tive credit for the possible saving in rate.
(T o be continued.)
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44
THE
NORTHWESTERN
BANKER
November, 1915
SERVICE
The Immediate Collection o f Stock Shipments is Indispensable to you.
Pa c k e r s
N
a t io n a l
Ba
n k
SOUTH OMAHA
J O H N F . C O A D , P r e s id e n t
H . C . N I C H O L S O N , C a s h ie r
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3
NEBRASKA
S
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STATE BANK Off OMAHA BUYS THE CITY
NATIONAL BANK.
An important business deal was consummated re
cently when the State Bank of Omaha took over the
deposits, lease and fixtures of the City National Bank
of Omaha. The State Bank will continue with the
same officers and directors.
The deal gives the State Bank deposits of about $3,500,000 and 25,000 depositors. It was established less
than two years ago. A. L. Schantz is president; J. R.
Cain, Jr., vice-president; F. N. High, cashier, and C.
W. Smith,.assistant cashier.
The City National was established about six years
ago with J. F. Flack, president. It had about 200
stockholders. Control was purchased in March by the
new German-American State Bank, of which Dr. F. R.
Baker was president.
All the deposits are now protected by the depositors’
guarantee fund of the state of Nebraska.
J. H. PATTERSON BECOMES PRESIDENT OF
THE FIRST NATIONAL BANK, HAVE
LOCK, NEB.
The stock in the First National Bank, Havelock,
Neb., owned by H. K. Frantz, A. F. Ackerman, J. C.
Deuser, F. P. Ackerman and E. Berlet has been sold
to J. H. Patterson of Denison, Iowa; E. J. Andrews
of St. Paul, Neb., and E. E. Andrews of Omaha.
Mr. Patterson succeeds Mr. A. F. Ackerman as presi
dent and Mr. E. J. Andrews will succeed Mr. Frantz
as cashier on January 1st.
The capital of the First National Bank is $25,000,
the surplus and profits are $5,000 and the deposits are
$ 110,000.
NEBRASKA BANKERS ASSOCIATION ELECTS
NEW OFFICERS.
The Nebraska Bankers Association held their annual
meeting at Omaha last month and elected the follow
ing officers for the ensuing year: Thomas Murray,
Dunbar, was elected president; W . B. Hughes re
elected secretary, and T. L. Davis re-elected treasurer.
G. A. PESTAL ELECTED PRESIDENT OF MER The executive council is composed of W . B. Ryan, Lin
CHANTS STATE BANK, WINSIDE, NEB.
coln; J. F. Coad, Omaha; E. R. Gurney, Fremont.
G.
A. Pestal, for several years connected with theAmong some of the prominent speakers were the fol
First National Bank, Fremont, Neb., the last two years lowing: J. H. Treney, Pawnee City; John J. Arnold,
serving as assistant cashier, has gone to Winside, vice-president of the First National Bank, Chicago;
Neb., to take charge of the Merchants State Bank W. B. Harrison, secretary of the Oklahoma Bankers
there.
Association; Joseph French Johnson, dean of the New
Walter Christensen, assistant cashier of the Leshara York University School of Commerce; Dr. P. L. Hall,
State Bank, Leshara, Neb., will occupy the position and H. D. Estabrook. The meeting was considered a
of cashier in the bank at Winside.
success from every standpoint and there were 850
bankers registered.
W a lte r H . R hodes
Jo h n W . O v e r str e e t
Rhodes-Overstreet Company
Consulting Bankers
Bank Stocks
OMAHA
907 W . O. W . Bldg.
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Federal Reserve Bank of St. Louis
N E BR ASK A
Phone Douglas 5546
November, 1915
United States National Bank
OF OMAHA, NEBRASKA
V. B. CALDWELL, President
C a p ita l - - - -
$1,000,000.
S u r p lu s and
P r o f i t s ..................... 784,000.
M. T. BARLOW, Vice-President and
Chairman of the Board
G. W. WATTLES, Vice-President
W. E. RHOADES, Cashier
G. E. HAVERSTICK, Asst. Cashier
D ep osits - - - - $11,400,000.
R. P. MORSMAN, Asst. Cashier
J. C. McCLURE, Asst. Cashier
Y o u r B u sin ess C o rd ia lly
In vited
J. M. WRIGHT OF AUBURN, NEB., STARTS A
NEW BANK AT STELLA, NEB.
J. M. Wright of Auburn, Neb., is at the head of a
new bank organized at Stella. A number of prominent
farmers in the vicinity of Stella are connected with
Mr. Wright. The capital of the bank will be $15,000.
There is already one bank at Stella, but as the town
is in the center of a rich farming section it seems en
tirely justifiable that a second one should be organ
ized.
Mr. Wright was for a long time cashier of the Ger
man American Bank at Auburn, but retired in order
to give his time to looking after his private affairs.
PLATTE VALLEY STATE BANK ORGANIZED
AT SCOTTSBLUFF, NEB.
A charter has been granted to the Platte Valley
State Bank at Scottsbluff, Neb. L. B. Howey, L. J.
Dunn and W . H. Ferguson of Lincoln, T. L. Green
of Pawnee City and C. N. Wright of Scottsbluff are
the incorporators. Mr. Wright will be.the vice-presi
dent and Mr. Green will be the cashier. The capital
ization of the bank is $35,000.
OMAHA BANK CLEARINGS MAKE NEW REC
ORD.
All records in Omaha were recently broken when
the bank clearings for one day reached $5,300,580.
Omaha bankers declare that the gain in the clearings
is due to the general prosperity of Omaha and the
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Federal Reserve Bank of St. Louis
G. H. YATES, Asst. Cashier
C. F. BRINKMAN, Asst. Mgr. Credit De
partment
large runs on the live stock market. This was a gain
over a year ago of practically $1,000,000 in a single
day.
ERECTION OF THE STEEL FOR THE FIRST
NATIONAL BANK, OMAHA, NEB., TO BE
GIN DECEMBER 1ST.
Erection of the steel for the fourteen-story structure
for the First National Bank, Omaha, Neb., will com
mence on December 1st. Excavating and putting in
the foundation is to be completed by the end of No
vember. It is expected that the erection of the steel
will be finished by March 1st.
NEW HOME FOR COMMERCIAL BANK,
GRANT, NEB.
A new building is now under process of construc
tion for .the Commercial Bank, Grant, Neb.
The building will be eighty feet long, with a hot
water heating system, oak bank fixtures and a large
vault on the first floor. The structure will be fire
proof and will be equipped with the modern conveni
ences.
The officers of the bank are: B. F. Hastings, presi
dent; A. E. Hastings, vice-president, and E. E. Jackman, cashier.
NEMAHA COUNTY BANK, AUBURN, NEB.,
ADDS $5,000 TO UNDIVIDED PROFITS.
At the annual meeting of the stockholders of the
Nemaha County Bank, Auburn, Neb., the usual busi-
46
THE
NORTHWESTERN
BANKER
L. M . LORD, President
W . A. C. JOHNSON, Vice-P residen t
' November, 1915
F. W . THOMAS, Cashier
C. A . DUNHAM. Asst. Cashier
R esources Over $3,000,000.00
LIVE STOCK NATIONAL BANK of SOUTH OMAHA
"T H E BANK OF SERVICE”
Improved Live Stock Service
WRITE US FOR Increased Interest Earnings
Unequaled Facilities
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NEBRASKA
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ness was transacted. All the old officers were re
elected, the annual dividend declared and the sum of
$5,000 added to undivided profits.
The officers are: A. M. Engles, president; Wm.
Tynon, vice-president; G. E. Codington, cashier, and
Elizabeth Tynon, assistant cashier.
The bank was organized in 1902 with a capital stock
of $20,000 and at the present time has a working capi
tal of $64,000, including capital, surplus and undivided
profits.
J. R. PIERSON PURCHASES STATE BANK OF
TABLE ROCK, NEB.
John R. Pierson has bought the State Bank of Table
Rock, Neb., and has taken possession. This bank,
with capital and surplus amounting to $60,000, was
recently purchased from the David K. Miller estate
by Edward Royce, secretary of the state banking
board, who sold it to Mr. Pierson. G. D. Miller, who
was vice-president of the bank under Mr. Royce, has
severed his connection with the institution, and W . A.
Letton will continue as cashier.
$35,000. The incorporators are H. A. Copsey, W . J.
Root and F. W. Hargarten.
The Dalton State Bank, Dalton, Neb., has been in
corporated with a capital stock of $25,000. The in
corporators are : F. A. Rowan, president; H. A. Fecht,
vice-president, and J. L. Willis, cashier.
J. Mj Wright of Auburn and some farmers residing
in the neighborhood of Stella, Neb., have organized
a new state bank at Stella with a capital of $15,000.
L. M. Keene, a Fremont, Neb., banker, was married
recently to Mrs. Jennie Tremaine of Cleveland, Ohio.
Walter S. McLucas, a former Fairbury, Neb., boy,
son of Mr. and Mrs. J. C. McLucas, has been elected
to a newly created vice-presidency in the Commerce
Trust Company of Kansas City. Mr. McLucas was
vice-president of the First National Bank in St. Jo
seph, Mo.
R. C. King of Hildreth has purchased an interest in
the Elmwood State Bank, Elmwood, Neb. He will
assume the duties of vice-president of the bank.
Harry Hanna, who has been employed in the State
Bank of Superior foi* several years, has retired from
that establishment and is succeeded by C. E. Stine.
Henry A. Butt, president of the Bank of Unadilla,
Neb., was married recently to Miss Alta Dunn.
The Farmers State Bank of Loomis, Neb., have
NEBRASKA NEWS AND NOTES.
The Cheyenne County Bank has been organized at moved into their new building.
Lodge Pole, Neb., with a capital stock of $15,000.
At a recent meeting of the stockholders of the Frank
Clarence G. Bliss is president, Fred Lehmkuhl, vice- lin County Bank, Hildreth, Neb., some changes were
president, and John Doherty, cashier.
made in the officers. F. L. Landon was elected presi
The First Security Bank of Cedar Creek, Neb., has dent, Geo. A. Carter, cashier, and Ed Van Steenberg
opened its doors to the public. William Schneider is re-elected vice-president.
president, William H. Lohnes, vice-president, and J.
G.
E. French closed a deal recently whereby he dis
F. Foreman, cashier. The new bank is capitalized at
$10,000 and will be one of the live factors in the bank posed of his interests in the Merchants State Bank,
Winside, Neb., to E. R. Gurney, G. A. Pestal of Fre
ing business of the county.
mont and Walter Christensen of Leshara. Mr. French
P. L. Kelly, who is cashier of the Cornlea State has been director and president of this bank for the
Bank at Cornlea, Neb., will be president of the Farm past twelve years and during that time it has become
ers Savings Bank at Humphrey, Neb., just recently one of the sound banking houses in the state. Messrs.
organized.
D. B. Carter and I. F. Gaebler will retain their posi
The officers of the Farmers State Bank of Grant, tions under the new management. G. A. Pestal was
Neb., which recently opened for business, are: M. D. elected president.
Keller, president; H. E. Pankonin, vice-president; E.
F. L. Vlach has given up his position as assistant
E. Jackman, cashier.
cashier in the Leigh State Bank, Leigh, Neb., on ac
A new bank has been organized at Chadron, Neb., count of failing health. His place has been filled by
known as the Nebraska State Bank, with a capital of his brother, Will Vlach.
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Federal Reserve Bank of St. Louis
November, 1915
THE
NORTHWESTERN
BANKER
47
The Omaha National Bank
Omaha, Nebraska
E s ta b lis h e d in 1866
Capital $ 1 ,0 0 0 ,0 0 0 .0 0
Surplus and Profits $ 9 5 0 ,0 0 0 .0 0
Exceptional collection facilities for Iowa business.
Items routed direct.
OFFICERS
J . H . M I L L A R D , P r e s id e n t
W . H . B U C H O L Z , V ic e -P r e s id e n t
W A R D M . B U R G E S S , V ic e -P r e s id e n t
J . D e F . R I C H A R D S , C a s h ie r
F R A N K B O Y D , A s s is ta n t C a s h ie r
B . A . W I L C O X , A s s is ta n t C a s h ie r
E Z R A M I L L A R D , A s s is ta n t C a s h ie r
O . T . A L V I S O N , A s s is ta n t C a s h ie r
Otto K. Thoene, assistant cashier of the First Na
tional Bank, Utica, Neb., and Miss Gertrude Severin
were married recently.
Edward Royce, who recently purchased the State
Bank of Table Rock, Neb., from the D. K. Miller es
tate, disposed of his interests in that institution to
John R. Pierson of Springfield, Neb., who, with his
family, has moved to Table Rock and is now in charge
of the bank.
“ That the move of the State Bank of Omaha, Neb.,
buying the lease, furniture and fixtures of the City Na
tional Bank and taking over its deposits meets the ap
proval of the public is absolutely shown,” says Presi
dent Schantz of the State Bank, “ by the business. On
one day we opened sixty-two commercial accounts and
forty-two savings accounts and closed out two sav
ings accounts, small ones of people leaving the city.
Our increase of deposits that day was $65,000.”
A new state bank has been chartered at Scottsbluff,
Neb., to be known as the Platte Valley State Bank
with a capital of $35,000, of which L. B. Howey of
Lincoln is president and C. N. Wright of Scottsbluff
is named as vice-president and cashier. T. L. Green
of Pawnee City and W . H. Ferguson of Lincoln are
also stockholders. It is not known how soon the new
institution will open for business.
The bank clearings for the year ending September
30th of the four Fremont national banks, Fremont,
Neb., made a gain of $1,370,224.74 over the same pe
riod a year ago. The clearings for the current year
were $20,697,368.53. A year ago they were $19,327,143.79.
Lulu Harris has been appointed bookkeeper in the
City National Bank, David City, Neb., to take the
place of Adolph Thege, who will go to Illinois to at
tend school.
The directors of the Farmers State Bank, Clarks,
Neb., have bought the building they have been occu
pying for the past year from Mrs. E. M. Beardsly.
The Farmers State is only a little over a year old, but
can well afford to own their own home.
Mr. V. A. Stockwell, cashier of the Commercial
Bank of Bassett, Neb., was married recently to Miss
Leona M. Bartlett.
The Bank of Lewellen, Neb., with a capital of $25,000, is the first state bank in Nebraska to go under
the federal reserve bank system.
The bank clearings for Omaha were over $7,000,000
greater in September, 1915, than they were in Septem
ber a year ago.
The state banks of Nebraska have doubled in the
last fifteen years and the deposits have more than
quadrupled, according to Secretary Royce of the state
banking board.
J. R. Bucknell has resigned as assistant cashier of
the Upland Banking Company, Upland, Neb.
Major Church Howe, president of the First Nation
al Bank of Auburn, Neb., died at his home in that city
recently after an illness of nearly a year. He was
seventy-seven years of age.
Work has commenced on the new $50,000 business
block that will be erected in Chadron, Neb. This
building will be 50x100 feet and one-half of the ground
floor will be occupied by the First National Bank of
Chadron.
Earl Lyman Jenkins, assistant cashier of the Ger
man Bank, Tilden, Neb., was married recently to Miss
Irene Nelson.
The Chapman State Bank, Chapman, Neb., moved
into their new quarters recently. The bank extends
a cordial invitation to its patrons to make use of its
facilities.
The Mechanics and Metals National Bank, New
York, has been approved as reserve agent for the First
National Bank, Laurel, Neb.
___
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485 Fifth A v e ., N e w Y o r k
The Farmers State Bank of Big Springs, Neb., in
creased its capital stock from $10,000 to $12,000.
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Federal Reserve Bank of St. Louis
NEW YORK
BOSTON
C H IC A G O
N E W HAVEN
ATLANTA
THE
48
NORTHWESTERN
BANKER
November, 1915
S io u x Falls S a v i n g s B a n k
SIOUX
FALLS,
S.
D.
Capital . . . ......................... $200,000.00
Total Resources Over . . . $2,500,000.00
OFFICERS
W I L L I A M O N T J E S , P r e s id e n t
J A S . B . L A M B E R T S O N , C a s h ie r
K . B . C R E S S E Y ,A s s i s t a n t C a s h ie r
C . H . R O S S , V ic e -P r e s id e n t
C . C . B R A T R U D , V ic e -P r e s id e n t
A Live Com m ercial Bank
Accounts ol B anks and Bankers Solicited
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SO U T H D A K O T A
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SOUTH DAKOTA BANKERS PROTEST 50 PER
CENT RESERVE RULING.
The South Dakota bankers have entered into a legal
combat with the state banking department over the at
tempt of the department to require country banks to
deposit 50 per cent of their funds with the South Da
kota state banks in depository cities named by the de
partment. This action was decided upon at a recent
meeting of nearly 100 bankers, which was held at Mit
chell.
Bankers generally are opposed to the ruling because
of the fact that it will disturb the present system of
exchange among their institutions and will diminish
the amount of funds said to be necessary in banks
outside the state to honor their drafts.
HOWARD NATIONAL BANK OF HOWARD, S.
D., APPOINTED ONE OF COUNTY DE
POSITORY BANKS.
At a recent meeting of the county board of commis
sioners, the Howard National Bank of Howard, S. D.,
was appointed as one of the county depository banks
and its bond of $13,000 was approved. Commissioners
J. J. Cox and John Carlson attended the meeting of
the county commissioners held at Mitchell.
L. ROY KLATT, CASHIER OF THE DAKOTA
STATE BANK, TRIPP, S. D., UNDERGOES
OPERATION.
L. Roy Klatt, cashier of the Dakota State Bank,
Tripp, S. D., recently underwent a very serious oper
ation for ulcer of the stomach and also had his ap
pendix removed. The operation was performed by
Dr. Chas. Mayo at the Mayo Hospital, Rochester,
Minn. Dr. Mayo reported his patient progressing as
well as could be expected.
SECURITY NATIONAL BANK, SIOUX FALLS,
S. D., COMMENCE WORK ON SIX-STORY
BUILDING.
The Security National Bank of Sioux Falls, S. D.,
have commenced to erect their six-story building,
which will be entirely fire proof in construction and
will cost approximately $100,000. It is expected that
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Federal Reserve Bank of St. Louis
Send Us Your Farm Loan A p p lication s
the building will be ready for occupancy by Septem
ber 1, 1916.
The Winter Company of Sheboygan, Wis., has se
cured the contract for the interior furnishings. Im
ported marble bronze and genuine mahogany are to be
used in the finishing of the interior and the fixtures.
BANKS OF TURNER COUNTY, SOUTH DA
KOTA, MAKE STEADY GAIN.
A comparative record of the banks of Turner coun
ty, South Dakota, makes the following excellent show
ing:
The bank statements published September 2, 1915,
show total deposits in the sixteen banks of the county
to be $3,404,815. Five years ago the total deposits
were $2,157,213 and ten years ago they were $1,141,132. This is an increase of about 200 per cent in ten
years, 20 per cent, or $226,000, per year.
Ten years ago the cash reserve held by all the banks
in the county was $305,887, five years ago it was $638,554 and on September 2d of this year the cash reserve
is $1,022,970.
SIOUX FALLS BANK CLEARINGS SHOW 30
PER CENT INCREASE.
For one of the weeks in October, Sioux Falls bank
clearings show a gain of more than 30 per cent over
those of the same week in October last year.
The total clearings for the week were $1,274,644, or
an increase of $300,521 over the total for the same
period last year of $974,123.
SOUTH DAKOTA NEWS AND NOTES.
The new Howard National Bank, Howard, S. D.,
has received its charter and has been opened for busi
ness. The new bank has a capital of $25,000. The
officers are : President, Gesse Gass ; vice-president,
L. J. Hauge; cashier, C. A. Drexler; assistant cashier,
F. J. Formanack.
Harold Nordness has accepted a position as book
keeper in the Farmers Home Bank of Lily, S. D.
The First National Bank of Watertown, S. D., the
city’s oldest and wealthiest banking institution, will
commence the erection of a.building on its present site
early next spring.
It is believed that with the immense harvest the
South Dakota bank deposits this year will go over the
$7,000,000 mark,
November, 1915
THE
NORTHWESTERN
BANKER
49
Dakota Trust \ Savings Bank
SIO U X FALLS, SO. D AR.
Capital $ 1 0 0 ,0 0 0 .0 0
Accounts o f Banks, Bankers and Individuals solicited on reasonable terms.
and interviews invited.
Correspondence
Mortgages Bought and Sold
O F F IC E R S
N. O. MONSERUD, Cashier
E. E. OLSTAD, Asst. Cashier
Clifton Walters has accepted a position in the Farm
ers State Bank, Bruce, S. D.
Claude Stockwell of De Smet has accepted a posi
tion in the new Peoples Savings Bank of Watertown,
S. D.
The First National Bank of Flandreau, S. D., has
installed a Burroughs adding machine.
Werner H. Rahn, cashier of the Farmers State Bank,
Witten, S. D., was married recently to Miss Lena Os
borne of Marshalltown, Iowa.
A deal was closed recently in which the three wellknown Clarkson brothers, H. W., F. M. and J. A. of
Buffalo, S. D., became stockholders in the State Bank
of Bowman, S. D.
A new Burroughs bookkeeping machine has been
added to the Security State Bank, Montrose, S. D.
For one week the Aberdeen, S. D., bank clearings
amounted to $1,141,635.62. For the corresponding
week of last year the clearings totaled $949,935.64.
The work of completing the front of the American
State Bank, Beresford, S. D., is progressing nicely.
The Security National Bank, Sioux City, Iowa, has
been approved as reserve agent for the Dakota Na
tional Bank of Aberdeen, S. D.
Elmer B. Blake, with the City National Bank of
Huron, S. D., was married recently to Miss Dorothy
Roberts.
The Live Stock National Bank, Sioux City, Iowa,
has been approved as reserve agent for the First Na
tional Banks of Fairfax, S. D., and Wessington, S. D.
The Corn Exchange National Bank, Chicago, has
been approved as reserve agent for the Howard Na
tional Bank, Howard, S. D.
The Continental and Commercial National Bank,
Chicago; First and Security National Bank, Minne
apolis, and the Live Stock National Bank, Sioux City,
Iowa, have been approved as reserve agents for the
First National Bank, Florence, S. D.
The Continental and Commercial National Bank,
Chicago; First and Security National Bank, Minne
apolis; Northwestern National Bank, Minneapolis, and
the First National Bank, Sioux City, Iowa, have been
approved as reserve agents for the First National
Bank, Bryant, S. D.
The Mechanics and Metals National Bank, New
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Federal Reserve Bank of St. Louis
W. C. HOLLISTER, President
TORE TEIGEN, Vice-President
O. A. HAYWARD, Vice-President
York, N. Y., has been approved as reserve agent for
the Dakota National Bank, Yankton, S. D.
The First and Security National Bank, Minneapolis,
and the Northwestern National Bank, Minneapolis,
have been approved as reserve agents for the First
National Bank, Lake Preston, S. D.
The First National Bank, Chicago, has been ap
proved as reserve agent for the Farmers National
Bank, Lake Preston, S. D.
The Banking House of Mackay Brothers of Madi
son, S. D., changed the name of their bank recently to
the Security State Bank.
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THE
50
NORTHWESTERN
EQ U IPPED and CONDUCTED for
SERVICE
Security National Bank
Minneapolis Bank Fixture
Company
OF SIOUX FALLS, S . DAK.
215 Fifth Street N. E.
Capital and Surplus, $250,000.00
UNRIVALLED FACILITIES FOR THE COLLECTION
OF SOUTH DAKOTA ITEM S
THE ENTIRE STATE HANDLED DIRECT
W. E. STEVENS, President
W. K VAN BRUNT, Vice President
JOHN BARTON, Cashier
G. C. HOLMBERG, Vice President
D. C. LOWE, Ass’t Cashier
RAY G. STEVENS, Vice President
C. R. BOND, Ass’ t Cashier
SOUTH DAKOTA'S LEADING BANK
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November, 1915
BANKER
MINNEAPOLIS MINN.
S P E C IA L IS T M A N U F A C T U R E R S O F
B a n k , O f f i c e an d S t o r e F ix t u r e s .
H ig h - G r a d e
C a b in e t
W ork
an d
A l l C la s s e s o f
In t e r io r F in is h .
D e s ig n s an d E s tim a te s S u b m itte d o n W o o d , M a r b le
an d T i l e W o r k .
tion of farming along more scientific lines. While
their money contributions have been liberal and their
activities well directed, the best work has been done
in the exertion of personal influence upon their patrons
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in advising them to co-operate with other men in the
Mrs. J. C. Bassette, wife of Pres. J. C. Bassette of community in plans for improving and increasing the
the Aberdeen National Bank, Aberdeen, S. D., and a products of the farm.
The True Community of Interest.
director of the Minneapolis Federal Reserve Bank,
It is true the bankers, merchants, stock yard inter
dropped dead suddenly of heart trouble after being in
ests and railroads are not conducting eleemosynary
apparently good health.
institutions, yet they are encouraging scientific farm
The Scandinavian-American National Bank, Minne
ing. However, there is a community of interest which
apolis, has been approved as reserve agent for the
dovetails in with the true interest of the farmer, which
Farmers National Bank, Brookings, S. D.
any fair-minded man should understand, for the ma
The Mechanics and Metals National Bank, New terial wealth of the country and every scintilla of food
York, N. Y., has been approved as reserve agent for we eat, or what we wear, emanate directly or indirect
the American National Bank, Spearfish, S, D.
ly from the soil. What more natural than that we
should all be interested in spreading information of
BANKING BASED ON THE COMMUNITY.
beneficial results of Nebraska agricultural experi
(Continued from page 8.)
ments? Every one should realize, as never before,
lading and fewer bills of legislation. Public opinion that the conception of agricultural prosperity is the
now shows its tardy disapproval of unnecessary polit cornerstone of national prosperity, and involves the
principle of co-operation carried to the highest degree.
ical antagonism to legitimate business.
The prospects of the entire nation are in direct ratio
Nebraska’s Prosperity.
W e are abundantly justified in the belief that our to the prospects of the farmers,' and whatever inter
state has a most promising future. W e have been ests the farmers must necessarily interest the business
highly favored with bumper crops and great increase men.
The bankers, as custodians of the wealth of the
in national wealth, and we, as bankers, can do the
community in which we live a great deal of good by country, have long been misunderstood. No one but
spreading optimistic sentiments. Nebraska is almost a demagogue or an editor of a yellow journal pretends
the center of production, as is evidenced by our gen to think that the average banker makes money off the
eral prosperity, and today people on the east coast, as misfortunes of his fellow citizens. When the farmer
well as west of us, realize that the nearer they ap and business men lose money, the banker loses money,
proach the center of original production the better the and when the community in which the banker lives is
times and more plentiful they find credit and money. not prosperous, that banker is not prosperous. We
Figuratively speaking, Nebraska is in high clover. bankers can do no greater service to our state, our as
sociation, ourselves, and coming generations than ac
W e can look into the future with serene confidence.
This year’s increase in wealth in .Nebraska will ex tively to endorse our propaganda for agricultural bet
ceed that of any previous year, and will give all lines terment.
of industry and business fresh impetus. An air of
Need of Constructive Legislation.
prosperity pervades.
Bankers should preach moderation in the enactment
The Farm Development Movement.
of laws affecting the conduct of business enterprises.
Evidences of the earnest desire of bankers to aid in It is our duty to interest ourselves in the election of
every possible way the development of natural re legislators who will vote for constructive, not de
sources of the state are manifold. The encourage structive, measures touching the commerce and indus
ment which our association has given to the farm de try of Nebraska. W e should assist in creating a sen
velopment movement is already producing splendid timent which would make it difficult for the profes
results, and is of great benefit to all the people. We sional politicians to ride into office upon pledges to
rejoice in the fact that the bankers have shown them regulate every kind of business that has become great
selves broad-minded and public-spirited in the promo and successful. W e must advocate laws that will en-
SO U T H D A K O T A
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Federal Reserve Bank of St. Louis
THE
November, 1915
JOSEPH WAYNE, Jr., President
EVAN RANDOLPH, Vice-President
NORTHWESTERN
51
BANKER
A. W. PICKFORD, Assistant Cashier
ALFRED BARRATT, Ass’t Cashier
T. E. WIEDERSHEIM, Vice-President
CHARLES M. ASHTON, Cashier
FRANCIS B. REEVES, Chairman of the Board
The Girard National Bank
P H IL A D E L P H IA , PA.
Capital, $2,000,000
Surplus and Profits, $4,500,000
Deposits, $46,500,000
ACCOUNTS OF BANKS AND BANKERS SOLICITED
“ T o Satisfactorily Handle Your Business, You Need a Philadelphia A ccount”
courage and protect legitimate business.
The adoption of a state policy that would invite out
side capital in railroad extensions, and especially interurban electric lines in Nebraska, would be very
beneficial. W e are all aware of the great impetus
transportation lines give to a community in advanc
ing land values and in populating the locality trav
ersed.
Need of a Publicity and Immigration Board.
Nebraska bankers should advocate a state law cre
ating a publicity and immigration board composed of
scientists and experts in agriculture and publicity, and
put at the disposal of such commission adequate ap
propriations to enable it to do effective work, not only
in describing what we have in this state, but also in
providing the necessary descriptive matter and adopt
ing the very latest and best methods of reaching the
classes of people who would become industrious and
prosperous citizens.
Immigration agencies find it difficult to finance
worthy men who wish to settle upon the lands, and
still there are thousands who can make a first pay
ment on a farm. A recent United States immigration
report shows that in one year 220,000 aliens returned
to their mother country carrying with them money
averaging $600 per man. Thus in one year they car
ried away over a hundred million dollars.
Rural Credit Associations.
These are the people among whom agencies should
be put to work to induce them to come to Nebraska
and buy a small farm. Wisconsin, Minnesota and
(Continued on page 54.)
%
'
I
Grain Receipts in
Minneapolis Break
All High Records
2,84 3 C a rs A rriv e in T w o D a y s ,
B e a tin g Form er T h ree
D a y s ’ M ark.
W EATHER PREVENTED
EV EN LARGER NUM BER
Y e ste rd a y
One
of
H eaviest
M o n d a y s in H is to r y o f
Cham ber.
I
=
Daily Receipts
T ie tremendous crops o f the North
west were graphically illustrated yes
terday when the state grain inspection
office in M inneapolis recordèd more
care o f grain fo r Sunday and M onday
than during any three-day period in
the history o f the office.
The two days— Sunday and Monday
— showed 2,^43 cnrs o f grain. The best
‘ 1 'nr' «loví**'
'»’ htnrv
amounting at times to
over a million dollars a
day in
Grain Drafts
alone, are being handled b y
The Northwestern N ati on al
Bank. These drafts are pre
sented for payment on the
day of their arrival and placed
at once to the credit of the
remitting banks.
The Collection, Grain Draft
and Flour Draft departments
of this bank have been devel
oped to a high degree of ex
cellence.
Your correspond
ence is solicited.
NORTHW ESTERN
NATIONAL BANK
M in n e a p o lis , M in n .
Minneapolis Flour
Mills Again Break
Record for Output
B arrels Prod u ced L a st
W e e k , 2 5 ,1 4 0 M o re T h a n
P revio u s W e e k .
5 1 0 ,4 9 5
ANOTHER NEW M ARK
SEEN BY SATUR D AY
D em and R ep orted A h ea d o f
o f O u tp u t— W h e a t S u p p ly
B elo w N o rm a l.
M inneapolis mills last week broke all
records in the output o f flour, the total
reaching the new high level o f 510,495 barrels, which is 25,140 barrels
above the record fo r • the preceding
week.
P ra ctica lly every M inneapolis m ill is
wnririand
’ ■»
I____________________
Resources
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Federal Reserve Bank of St. Louis
$47,000,000
1
52
THE
NORTHWESTERN
BANKER
November, 1915
“ Made in Minneapolis"
T h e A m erican Bank P ro te ctio n C o.
Capital $150,000.
Steel Office and Vault Fixtures
Omnibuses
Steel Filing Devices
Vault Doors
E L E C TR IC A L BU R G LAR ALAR M S
Tw elve
years’ experience protecting more than 2,000 banks without
Indorsed by bankers’ associations and expert vault engineers
Every system guaranteed against burglary
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NORTH DAKOTA
T iiiiiiiifiiiiiiiiiiiM iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiH iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiin in iiiiiiiiiiiiiiiiim iiiiiiil
DEVILS LAKE STATE BANK, NORTH DA
KOTA, MOVES INTO NEW QUARTERS.
The Devils Lake State Bank of Devils Lake, N. D.,
have recently taken possession of their new home in
the remodelled Bangs block. The portion of the build
ing occupied by the bank is entirely new and was built
after plans made by the president, J. M. Thompson.
The bank is provided with a large vault on the main
floor as well as in the basement.
The .officers of the bank are: J. M. Thompson,
president; Herman Schutte, cashier, and Wm. Falger,
assistant cashier. The capital is $50,000, the surplus
and undivided profits are $10,000 and the deposits are
$150,000.
FIRST NATIONAL BANK OF CARRINGTON
NORTH DAKOTA.
The statement of the condition of the First National
Bank of Carrington, North Dakota, at the close of
business October 4, 1915, shows the capital to be $25,000; surplus, $25,000; undivided profits, $30,803.53,
and deposits, $462,279.69.
. The officers are: G. W. C. Ross, president; W. H.
Swinton, vice-president; G. S. Newberry, cashier; R.
W. Hargrove and G. A. Murphy, assistant cashiers.
THE SCANDINAVIAN-AMERICAN BANK AND
THE NORTHWESTERN TRUST COMPANY
GRAND FORKS, N. D., HOLD OPEN
HOUSE IN THEIR BEAUTIFUL NEW
BUILDING.
Many people took advantage of the open house an
reception held recently by the Scandinavian-America
Bank and the Northwestern Trust Company of Gran
Forks, N. D.
The quarters of the bank and trust company are lc
cated on the second floor of the building. The entir
establishment is finished in mahogany, with crearr
colored marble extending part way up the walls, th
remainder of which is finished in cream with gold re
lief.
&
The floor is of terrazo. The furnishings are parti
mahogany and partly steel, finished in imitation of th
same wood. Three vaults occupy the northern end c
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Federal Reserve Bank of St. Louis
a
robbery
the building and the doors of each of these vaults
weighs 15,500 pounds.
A mezzanine balcony extends above the three vaults,
thus completing the interior arrangement of the build
ing.
This handsome new structure surely reflects a great
deal of credit upon the officers of the ScandinavianAmerican Bank and the Northwestern Trust Com
pany.
NEW BANK ORGANIZED AT GWINNER, N. D.
A second bank has been organized at Gwinner, N.
D., by George Carlson, who has been connected with
the First National Bank of Milnor, N. D. The bank
will be known as the Farmers State Bank and the offi
cers are as follows: President, Curtin Cooper; vicepresidents, A. E. Stevens and R. P. Johnson; cashier,
George Carlson. The capital stock is $15,000.
CITIZENS BANK OF KENMARE, N. D., MOVE
INTO REMODELED QUARTERS.
The Citizens Bank of Kenmare, N. D., have recent
ly changed their location and have moved into a build
ing which is owned by the bank and which has recent
ly been remodeled and made into an up-to-date bank
ing room.
New fire-proof vaults in both the basement and the
banking room have been installed. The front has been
remodeled to give an abundance of light and the walls
and ceiling have been redecorated.
aiAiJiJVLiiJNTS OF NORTH DAKOTA BANKS
SHOW PROSPERITY.
Bank statements can always be taken as a positive
indication of the rise or fall of a state’s welfare in all
lines of business, and the totals compiled from the last
statements^ of the banks of North Dakota show a very
favorable increase. As given out by the state bank
»IS <r,t,mAe-7nt^ he
for the cal1 issued in June was
$oy,613,070.29, and the same for the statements issued
m September amounts to $72,175,495.85, showing- an
increase of $2,552,424.84 in less than three months.
1 here has been an increase of twelve banks in the
state during this time.
NORTH DAKOTA NEWS AND NOTES.
The Bohemian-German State Bank of Dickinson, N.
. , Wl11 buiId a fine new bank home, 25x90 feet. It
is expected that it will be completed by January 1st.
November, 1915
THE
NORTHWESTERN
BANKER
53
The quality o f service rendered by a bank
is a matter of vital importance to its cor
respondents. It is our aim to render the
most efficient service possible.
The Mechanics and Metals National Bank
OF THE C IT Y OF N E W Y O R K
Total Resources (Sept. 2,1915)
The Bank of Hazelton, N. D., has moved into its
new quarters on which work started in June. The
new banking house is a fine one.
A new bank has been organized at Gwinner, N. D.,
and will open up for business soon with a capital stock
of $15,000.
Increased prosperity of this district is reflected in
the action of the Grafton National Bank, Grafton, N.
D., which has just announced an increase in its capital
stock from $50,000 to $100,000.
J. H. Engel has accepted a position with the Wells
County State Bank of Fessenden, N. D.
The Security State Bank, Deering, N. D., will erect
larger and more convenient quarters early this coming
spring.
J. R. Carley and A. I. Hunter have sold their inter
est in the First National Bank of Towner, N. D., to
T. L. Beiseker of Fessenden and H. H. Bergh of Town
er, who will take charge of the institution.
A. W . Flinn, cashier of the Cogswell State Bank,
Cogswell, N. D., sold his interest recently in the Cogs
well, N. D., bank and will continue the banking busi
ness in the northern part of the state.
G. J. Johnson of Bismarck, N. D., state bank exam
iner, was married recently to Miss L. Carter of Jeffer
son City, Iowa.
The bank reports of the last month show nearly
$750,000 now on deposit in the banks of McKenzie
county. This is a large increase from last year.
C. N. Janzen, banker of Hazen, N. D., was recently
married to Miss Bertha Paulson.
Robert Stangler, formerly eashier in the Lucca State
Bank, has resigned his position and is now assistant
cashier in the bank at Hagen, N. D.
The First National Bank of McVille, N. D., have
moved into their new home. Their quarters are splen
didly furnished and fitted up for banking work. The
officers are: President, C. H. Simpson; vice-presi
dent, E. L. Boyd; cashier, A. O. Moen; assistant cash
ier, L. M. Ruana.
. The First State Bank of Logan, N. D „ have moved
into their new building and are now ready for busi
ness.
.
J
The Scandinavian-American Bank and the North
western Trust Company, Grand Forks, N. D., opened
for business in their new building recently.
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Federal Reserve Bank of St. Louis
-
$180,000,000
The McLeod State Bank, newly organized, has
opened for business at McLeod, N. D. The controll
ing interest is held by L. J. Hanson, H. L. Hanson and
R. L. Hanson of Grand Forks and Mekinock, N. D.
Henry H. Rustad, assistant cashier of the Farmers
and Merchants State Bank, M^ahpeton, N. D., was mar
ried recently to Miss Susanna Shepherd of Breckenridge.
Fred Sheldon has accepted a position in the Farm
ers and Merchants Bank, Riceville, Iowa, during the
absence of H. J. Ure in the south this winter.
The Drovers National Bank, Chicago, has been ap
proved as reserve agent for the First National Bank,
Lunkerton, Iowa.
Homestead
H oliday
G reeting Cards
'T is the tendency of the business world today to
' inject more sentiment into business relations.
J
vc y .yuur appreci
ation to your patrons for the past year’s busines
bn™ ?
Die g r a v e d and Em
bossed CHRISTMAS GREETING CARD?
T h e custom is becoming universal among the
more progressive concerns to send a greeting to
their patrons at least once a year.
W h y not join
their ranks, particularly as the difficulties in the way
have been removed by us?
W rite fo r Samples
W e also specialize in steel die engraved and em
bossed commercial stationery.
H o m e s t e a d En g r a v in g C o .
Steel a n d Copper Plate E n g ra vers
DES M OINES
THE
54
NORTHWESTERN
BANKER
November, 1915
In All That is Good Iowa Affords the Best
LIFE INSURANCE
a riGOOD
Among the bankers who are policy holders:— George E. Roberts, Leslie M. Shaw, Ralph Van
Vechten and TWO HUNDRED and FORTY OTHER BANKERS in IOWA.
Homer A. Miller, President of the Iowa National Bank, Des; Moines Iowa, was insured for
$2,000 for twenty years, paid in premiums total $1,192, had the option of a cash settlement of
$1,596, giving 20 years’ insurance and $404 profit.
This Company Makes Results—Not Estimates
FRANK D. JACKSON, President
SIDNEY A. FOSTER, Secretary
Royal Union Mutual Life Insurance Company,
Correspondence Solicited
BANKING BASED ON THE COMMUNITY.
(Continued from page 51.)
Texas have adopted measures for financing such men
who will settle on their lands. They are suggestive
of the rural credit associations, which within the last
generation have produced such wonderful results in
farming communities of Germany and France; and
they have, moreover, been producing much sentiment
which is crystallizing in congress for the formation
of a rural credit system applicable to American needs.
One plan contemplates the extending of our building
and loan association laws to admit of making long
time loans on good farm lands under the amortization
plan.
While I have not had an opportunity to go deeply
into the subject, it would seem that the states, and
not congress, should enact laws under which a work
able system of rural credits may be put in operation.
The danger and folly of taxing the property of citi
zens in the town, state and nation by sale of bonds to
raise funds to lend to Tom, Dick and Harry would
seem apparent to every man who has given the sub
ject thoughtful consideration.
The field of rural credits should be properly occu
pied by private corporations operating under state
laws, for the important reason that a federal statute
must of necessity be too broad to meet the localized
conditions of the several states.
Effects of the New Banking Act.
The full force of the liquid and elastic quality of the
note issues of the Federal Reserve Bank has as yet
hardly been comprehended or realized. A little more
time will be required in which to adjust the federal
reserve act to varying conditions, and we may expect
that its administration will be attended with diminish
ing friction. Practical operation will dictate impor
tant changes in the law which will be made in due
time. Are we not warranted in saying that the new
act has already sustained rather a severe test? Most
of us know there were more business failures in 1914
than any previous year, with liabilities amounting to
almost $358,000,000, and that this condition, in addi
tion to the war, put an extraordinary strain upon bank
ing facilities of the country.
It would be useless here to discuss the causes of
business depression. Some say it was due to the ef
fect of the war in Europe upon American industry;
others attribute it to unwise political policies. W e
are pleased to observe, however, that the administra
tion now favors better tariff protection and the reten
tion of the sugar tariff, which will surely lead to great
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- ■
- Des Moines, Iowa
Agents Wanted
er development and more sugar factories for western
Nebraska.
Under the requirements of the old banking system,
we all got the habit of regarding a bank’s reserves as
consisting of money in its vaults and balances due
from other banks. It is different under the new bank
ing act, as must be apparent even to the average bank
customer. It puts a different meaning into the word
“ reserves,” and it is entirely reasonable to expect that,
as banking methods develop, a bank’s chief reserve
will be its rediscountable paper. Under the banking
laws of France, for instance, this has proved to be true
to such an extent that there is no legal requirement
whatever for money reserves, as American bankers
have understood the term heretofore. In this view of
the case, I am sure that the banks in the Federal Re
serve Association will not fail to recognize this vital
point, and that they will before long raise to the im
portance of a general custom the accumulation of pa
per eligible and acceptable for rediscount. They will
find this course one which will safeguard their busi
ness and at the same time prove of great utility to
their customers.
My Compliments.
I take great pleasure in paying tribute to our affable
and efficient secretary, Billie Hughes, who has sur
rounded himself with courteous, competent and oblig
ing assistants. I have yet to find a man who has been
more genial, more kindly disposed toward suggestions
made to him, and who has had just one persistent
aim, and that was to do whatever he could for the best
interests of the organization of which he was secre
tary.
Our successful year’s work impresses me with kind
ly sympathies and interest for each of you. I indulge
the hope that the friendly regard with which you have
honored me, like my own warm respect for you, will
be deepened by the remembrance of this pleasant year
in which your co-operation, team work and enthusi
asm have played so important a part.
I am reminded of Kipling’s w ords:
“ It ain’t the guns nor armament, nor funds that they
can pay,
But the close co-operation that makes them win the
day; I
It ain’t the individual, nor the army as a whole,
But the everlasting team work of every blooming
soul.”
S T A T E M E N T OF O W N E R S H IP AN D M A N A G E M E N T .
T H E N O R T H W E S T E R N B A N K E R is pub lish ed m o n th ly a t
D e s M o in es, Io w a . T h e duties o f E d ito r , M a n a g in g E d ito r ,
B u sin e ss M a n a g e r and P u b lish e r are in ch a rge of C liffo rd D e
P u y , D es M o in es, Io w a . O w n ers are M rs. E m e rs o n D e P u y ,
C liffo rd D e P u y and A lic e D e P u y o f D e s M o in es, Io w a .
K n o w n bon d hold ers, m o rtg a g ees and other se cu rity h olders
h o ld in g 1 per c e n t or m ore o f to ta l am o u n t o f bonds, m ort
g a g e s or other se cu ritie s, none. C liffo rd D e P u y , P u b lish e r.
S w o rn to and su b scrib ed b efore m e th is 1st d ay o f O cto b er,
1915. H e le n D ix so n , N o ta r y P u b lic (m y com m issio n expires
J u l y 4, 1918).
CO-OPERATIVE BANK ADVERTISING.
(Continued from page 7.)
On large banners back of the booth the following
interesting facts were displayed: “ Banks in Mahaska
county paid last year interest to depositors, $142,254.45. The per capita deposit in the United States
is $180.50. In Mahaska county, $169.28, or $11.22 less
than the average. W hy are we below? Are you
helping to make your county better by putting your
savings at the disposal of some good bank? If not,
start today. Our nation is far below the average in
thrift; our county below the national average by $11.22
per capita.”
“ Thrift in Europe, interpreted in bank accounts, is,
Switzerland 554 in every thousand have bank ac
counts, France 346, Germany 317, England 302, the
United States 99. Only one in every ten have bank
accounts in the United States.
“ No depositor has ever lost a dollar through the
failure of a bank in Mahaska county.
“ Standing of Mahaska county banks. The people’s
money is invested as follows: Cash in vaults and
banks, $1,222,094.57; mortgages, $814,232.31; collat
eral, individual, firm and corporation loans, $4,148,095; bond, county and warrants, $428,666; banking
houses, real estate, furniture and fixtures, $212,435.27;
overdrafts, $7,535.54. Total, $6,833,108.69. Amount
of deposits in Mahaska county, $5,435,834.10. Nation
al bank notes outstanding, $200,000. Capital, surplus
and undivided profits, $1,198,274.59. Total, $6,633,108.69. Actual reserve carried, $1,222,099.57, or 66 per
cent more than is required by law, sacrificing profits
for stability.”
This story is but an example of what bankers in
hundreds of other communities can do if they wish.
All it needs is one man to start the “ ball rolling.” W hy
not be that one? If you are desirous of any addition
al information about this plan, I know any of the
banks in Mahaska county, and especially in Oskaloosa,
will be glad to hear from you. The banks in Oska
loosa are: Farmers National Bank, Mahaska County
State Bank, Oskaloosa National Bank, Oskaloosa Sav
ings Bank, Peoples Trust and Savings Bank and Union
Savings Bank.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SECRETARY WILLIS OF FEDERAL RESERVE
BOARD ADDRESSES FORUM SECTION OF
NEW YORK CHAPTER, AMERICAN IN
STITUTE OF BANKING.
Mr. H. P. Willis, secretary of the Federal Reserve
Board, delivered an address before the New York
chapter of the American Institute of Banking, his sub
ject being, “ Some Neglected Features of the Federal
Reserve Act.”
Mr. Willis discussed particularly under this head
the question of rates of discount as affected by the
establishment of the reserve banks at different points
throughout the country, calling attention to the con
ditions under which financial leadership could be se
cured from the reserve banks and the various obsta
cles to such leadership that were likely to be encoun-
ABSOLUTELY TH E
National Sensation
of the
SEASON
in a low priced 4 -drawer
upright.
A concentration of all
the ingenuity both old
and new boiled down for
this h i g h grade, l o w
priced file that dealers and
users alike have been
hoping for—sold by lead
ing dealers or direct to
Banks for only $18 F. O.
B. factory.
Olive Green Finish.
Invincible Metal Furniture Co.
M A N IT O W O C , W IS .
56
THE
NORTHWESTERN
BANKER
November, 1915
THE CITY NATIONAL BANK
OF CLINTON, IO W A
Capital Surplus and Profits • . $290,000.00
D e p o s its ......................................$2,920,000.00
OFFICERS
A. G. SMITH, President
A. C. SMITH, Vice-President and Cashier
G. M. CURTIS, Vice-President
A. W. HANSEN, Assistant Cashier
Accounts of Banks and Bankers received on most favorable terms.
tered. He gave considerable attention to uniformity
in rates of discount, emphasizing the difficulty of se
curing such uniformity in a country whose industries
are so-widely varied as the United States, and in
which the distribution of capital is so far from uni
form. This led to a discussion of the extent to which
it may reasonably be expected that the reserve sys
tem will succeed in conducting its operations solely
through member banks, the discussion involving a
consideration of the probabilities of state bank mem
bership and of increase of direct discounts for mem
bers.
The problem of earnings and expenses of reserve
banks and the question of how far the banks have suc
ceeded in developing remunerative channels of busi-
Correspondence invited.
ness through the operations thus far open to them was
considered, and the speaker undertook to define the
proper function of the reserve bank, showing that as
a reserve institution its duty must be at all times to
preserve the liquid character of its assets, all other
considerations being secondary in importance.
The Farmers Savings Bank of Albert City, Iowa,
has let the contract to Thomas Park of Storm Lake
for the erection of a $5,000 building.
The Farmers & Merchants Bank of Rembrandt,
Iowa, has begun the erection of a fine new banking
home.
John Heffner has been appointed cashier of the Duncombe Savings Bank, Duncombe, Iowa.
Century Savings Bank
at
Des M oines, Iow a
W ith a record of steady and constant grow th, proving thereby a
satisfactory service to customers, is w illin g and anxious to extend its
facilities and solicits correspondence or a personal interview with
those desiring a new or additional con n ection in Des M oines.
W h en any of your friends are com in g to the Capital City, please
direct them to us.
L. E. STEVENS, President
B. B. VORSE, Cashier
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J. M. CALLANDER, Vice-Pres.
«L E. MORTON, Asst. Cashier
November, 1915
THE
NORTHWESTERN
BANKER
57
Ask Us to Have Our Advertisers Send You
More Information About Their
Goods or Service
Y o u w ill a lw a y s find T h e N o rth w e ste rn B a n k e r a d v e rtisin g
colu m n s a relia b le m a rk e t p la ce , fro m w h ich you ca n se le c t
w ith con fid en ce b a n k su pp lies and eq u ip m en t; c ity corre
sp o n d en ts, w ho w ill g iv e you dependable se rv ic e , and m a n y
other th in g s, in w h ich you a s a b ank er are in terested.
In order to a s s is t you to g e t m ore in fo rm a tio n ab ou t th e
a rticle s or b ank se rvice ad vertised in th is issu e, and to save
you th e trou b le and p osta ge o f w ritin g th e va rio u s ad vertis-
ers yo u rse lf, w e h av e listed ea ch one w ith a nu m ber opposite.
S im p ly fill in on th e coupon th e in d ex num ber o f the bank
or co m p an y fro m w h ich you w ould lik e to receive pam p hlets,
b ooklets or a d d itio n al in fo rm a tio n , and m a il it to T h e N o rth
w estern B a n k e r. W e w ill be p leased to see th a t you g e t the
m a teria l d esired.
T h is is a se rvice w e are glad to rend er you a s one o f our
su b scrib ers.
A
F
Accountants
50. Live Stock National Bank..............
F ix t u r e s
1. G. A.Mast.........................Davenport, la.
.........................................Sioux City, Ia.
79. Invincible Metal Furniture Co........
2. Wm.Guthrie & Co........Sioux City, la.
51. Security National Bank.....................
.....................................Manitowoc, Wis.
Advertising Novelties
.........................................Sioux City, Ia.
80. American Bank Protection Co........
3. C. E. Erickson & Co..Des Moines, la.
52. Security National Bank.....................
n.
................................... M i n n e a p o l i s , M in n .
Advertising Service
...................................Sioux Falls, S. D.
81. Minneapolis Bank Fixture Co........
H. B. Craddick....Minneapolis, Minn.
53. Sioux Falls Savings Bank.................
I
I................................Minneapolis, Minn.
Outcault Advertising Co.................
...................................Sioux Falls. S. D.
82. H. Ehrlich & Sons Mfg. Co............
...............................................Chicago, 111.
54. Dakota Trust & Savings Bank......
.......................................St. Joseph, Mo.
B
...................................Sioux Falls, S. D.
H
Banks
55. Live Stock National Bank.................
H o t e ls
6. Merchants National Bank.................
.....................................So. Omaha, Neb.
83. Ft. Dearborn Hotel........Chicago, 111.
..........................................Burlington, la.
56. Stock Yards National Bank............
7. Cedar Rapids National Bank..........
.......................................So. Omaha, Neb.
I n s u r a n c e C om p a n ie s
...................................Cedar Rapids, la.
57. Packers National Bank.....................
84. Bankers Life Insurance Co............
8. Merchants National Bank.................
.....................................So. Omaha, Neb.
.......................................D
es Moines, la.
...................................Cedar Rapids, la.
58. Black Hawk National Bank............
85. Great Western Accident Insur
9. Continental & Commercial Na
...........................................Waterloo, Ia.
ance
C
o......................D
es
Moines, Ia.
tional Bank......................Chicago, 111.
59. Commercial National Bank...............
86. Royal Union Mutual Life Insur10. Corn Exchange National Bank......
.............................................Waterloo, Ia.
ance
C
o......................D
es
Moines, Ia.
...............................................Chicago, 111.
60. FirstNationalBank....Waterloo,
Ia.
87. Western Life Insurance Co............
11. Drovers National Bank-Chicago, 111.
61. Leavitt & Johnson National Bank
.......................................D
es
Moines, Ia.
12. First National Bank........Chicago, 111.
.............................................Waterloo, Ia.
88. Northwestern National Life In
13. Fort Dearborn National Bank........
surance
C
o........M
inneapolis,
Minn.
Bank Builders
...............................................Chicago, 111.
L
62. Weary &Alford...................(Jhicago, 111.
14. Live Stock Exchange National
L
it
h
o
g
r
a
p
h
in
g
63. Hoggson Brothers..New York, N. Y.
Bank ................................Chicago, 111.
89. Iowa Lithographing Co.....................
64. Lytle Company............Sioux City, Ia.
15. National Bank of the Republic......
.............................
Des Moines, Ia.
65. A. Moorman & Co......St. Paul, Minn.
...............................................Chicago, 111.
16. National City Bank........Chicago, 111.
Bonds
P
h
o
n
o
g
r
a
p
h
s
17. City National Bank..........Clinton, la.
66. Iowa Bankers Association (Na
90. Harger & Blish, Inc-Des Moines, Ia.
18. Peoples Trust & Savings Bank......
tional Surety Co.)............................
P o s it io n s S ecu red
.............................................. Clinton, la.
.......................................Des Moines, Ia.
91. Business Service Co............................
19. Davenport Savings Bank.................
Business Colleges
................................Minneapolis, Minn.
....................................... Davenport, la. *67. Cedar Rapids Business College......
92. Rogers Reference Co....Omaha, Neb.
20. First National Bank............................
..................................Cedar Rapids, Ia.
S
....................................... Davenport, la.
S ig n s
Business Methods for Merchants
21. German Savings Bank.......................
9
3
.
Rawson
&
Evans
Co......Chicago, 111.
68. Brenard Mfg. Co..........Iowa City, Ia.
....................................... Davenport, la.
94. Western Display Co..St. Paul, Minn.
C
22. Iowa National Bank............................
S a fe t y P a p e r
Cattle Loans
................................. Davenport, la.
95. Geo. La Monte & Son........New York
69. Knorpp Cattle Loan Co.....................
23. Central State Bank....Des Moines, la.
T
..................................Kansas City, Mo.
24. Century Savings Bank.......................
T a ilo r s
Commercial Paper
..................................Des Moines, la.
9
6
.
N
icoll
T
he
Tailor........D
es Moines, Ia.
70. Wm. A. Lamson Co..New York, N. Y.
25. Citizens National Bank.....................
T ru n k s
Consulting Bankers
.......................................Des Moines, la.
9
7
.
N
ational
Veneer
Products
Co........
71. Rhodes-Overstreet Co....Omaha, Neb.
26. Des Moines National Bank...............
.....................................Mishawaka, Ind.
E
....................................... Des Moines, la.
T
r
u
s
t
C
o
m
p
a
n
ie
s
Engraving
27. Iowa National Bank............................
98. Bankers Loan & Mortgage Co........
72. Homestead Engraving Co.................
........................
Des Moines, la.
.......................................Billings, Mont.
.......................................Des Moines, Ia.
28. Peoples Savings Bank..........................
99. Central Trust Co. of Illinois............
Equipm
ent
.......................................Des Moines, la.
..............................................Chicago, 111.
73. Baker-Vawter Co..................................
29. Valley National Bank..................T
......
100. Merchants Loan & Trust Co..........
..........................Benton Harbor, Mich.
.......................................Des Moines, la.
.............................................Chicago, 111.
74. Acorn Brass Mfg. Co......Chicago, 111.
30. First National Bank....Dubuque, la.
101. Minnesota Loan & Trust Co..........
75. Will H. Zaiser Specialty Co............
31. Second National Bank..Dubuque, la.
‘.........................Minneapolis, Minn.
.......................................Des Moines. Ia.
32. First & Security National Bank....
102. Guaranty Trust Co............................
76 Burroughs .......................Detroit, Mich.
..............................Minneapolis, Minn.
........:.........................New York, N. Y.
77. Elliott-Fisher Co......Harrisburg, Pa.
33. Northwestern National Bank..........
103. Leavitt & Johnson Trust Co........
78. Kalamazoo Loose Leaf Binder
..............................Minneapolis, Minn.
...........................................Waterloo, Ia.
Co.............................Kalamazoo, Mich.
34. Scandinavian American National
Bank ...................Minneapolis, Minn.
CLIP AND MAIL THIS COUPON TODAY
35. Chase National Bank..........................
.....................................New York, N. Y.
36. Liberty National Bank.......................
S E R V IC E D E P A R T M E N T
.....................................New York, N. Y.
37. Hanover National Bank.....................
N
o
r
th w estern ban k er
.....................................New York, N. Y.
38. Atlantic National Bank.....................
D es M oin es, Io w a
.....................................New York, N. Y.
39. Mechanics & Metals National
Bank..........................New York, N. Y.
I would like to have further information from the advertisers in
40. Seaboard National Bank..............
..............................
New York, N. Y.
41. First NationalBank.........Omaha, Neb.
the November issue listed as Numbers____________________________
42. Merchants National Bank.................
..............................................Omaha, Neb.
43. Omaha NationalBank..Omaha, Neb.
44. United States National Bank.............
.........................................Omaha, Neb.
45. Bank of North America.....................
...........................Philadelphia, Pa.
46. Girard National Bank..........................
...........................Philadelphia, Pa.
NAME
47. First National Bank..St. Paul, Minn.
48. Continental National Bank..............
.........................................Sioux City, la.
STATE.
PLACE.
49. First National Bank....Sioux City, la.
1915
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE
58
NORTHWESTERN
November, 1915
BANKER
Representative Iowa Banks
These banks have special facilities for handling collections and any other business entrusted to them
A L G O N A — County Savings Bank.
Capital, $50,000. Undivided Profits,
$21,000. Deposits, $850,000.
E. J. Murtagh, Pres., C. B. Hutchins,
Vice-Pres., C. B. Murtagh, Cash., W. H.
Bailey and W. K. Schoby, Ass’t Cash.
A L G O N A — F i r s t N a tio n a l B a n k .
Capital, $50,000. Surplus and Undi
vided Profits, $13,400. Deposits, $525,°°Wm. K. Ferguson, Pres., E. V. Swat
ting, Vice-Pres., E. E. Connor, Cash.
Capital,
$15,000.
Surplus, $15,000.
Undivided Profits, $5,000. Deposits,
Capital, $50,000. Undivided Profits,
$20,000. Deposits, $430,000.
S. M. Leach, Pres., Robt. Leach, Cash.
C H E R O K E E — F i r s t N a tio n a l B a n k .
Capital, $50,000. Surplus, $50,000. Un
divided Profits, $50,000. Deposits, $900,-
I
„
A. Sanford, Pres., C. Sullivan,
Cash., R. G. Rodman, Ass’t Cash.
E L D O R A — F i r s t N a tio n a l B a n k .
PANORA—Guthrie County Nat’l Bank.
Capital, $50,000. Surplus, $10,000. Un
divided Profits, $7,740. Deposits, $395,-
000.
$ 200, 000.
M. M. Reynolds. Pres., H. L. Moore,
Vice-Pres., Wade Spurgin, Cash., T. R.
Swanson, Ass’t Cash.______________________
W. R. Bloom, Pres., D. D. Ross and
We
Katter, Vice-Pres., P. M. Griesemer, Cash., F. J. Wenck, Ass’t Cash.
M A R S H A L L T O W N —M a r s h a llto w n S ta te .
R O C K F O R D — R o c k fo r d S ta te B a n k .
Capital, $50,000. Surplus, $10,000. Un
divided Profits, $85,000. Deposits, $475,000. F. C. Johnson, Pres., Burton Cp.rrott, Vice-Pres., B. A. Wallace, Cash.,
A. Jenkinson, Ass’t Cash., P. C. Yocum,
Ass’t Cash.
Capital, $100,000. Surplus and Profits,
$100,000. Deposits, $1,530,000.
A. F. Balch, Pres., G. A. Turner, VicePres., C. C. Trine, Cash., R. R. Brad
bury, Ass’t Cash., Harry W. Jennings,
Auditor.
M O N T I C E L L O — T h e M o n tic e llo S t . B k .
A D E L — Adel State Bank.
000.
W.
K L E M M E — S t a t e S a v in g s B a n k .
Capital, $200,000. Surplus and Profits,
$155,000. Deposits, $1,600,000.
H. M. Carpenter, Pres., Wm. Stuhler,
Vice-Pres., H. S. Richardson, Cash., F.
F. Becker, Ass’t Cash.
M A R EN G O — First Nat. Bank & The Iowa
Co. L. & Sav. Bank.
Combined Capital and Surplus, $100,000. Combined Deposits, $630,006.
Frank Cook, Pres., Thos. Stapleton,
Vice-Pres., J. H. Lewis, Vice-Pres., C. C.
Clements, Cash., F. W. Goldthwaite,
Ass’t Cash.
S I O U X C I T Y — L i v e S to c k N a tio n a l B k .
Located at Sioux City Stock Yards.
Capital, $100,000.
Surplus, $100,000
Geo S. Parker, Pres., F. L. Eaton,
Vice-Pres., C. D. Van Dyke, Cash., A.
W. Smith, Ass’t Cash. ___________________
T O L E D O — T o le d o S a v in g s B a n k .
Capital, $50,000. Surplus, $25,000. De
posits, $350,000.
W. C. Walters, Pres., C. A. Blossom,
Vice-Pres., .M. J. Krezek, Cash., R. W.
Adair. Ass’t Cash.
W A S H I N G T O N — N a tio n a l B a n k .
Capital, $50,000. Surplus and Profits,
$60,000. Deposits, $500,000.
N E V A D A — F i r s t N a tio n a l B a n k .
W J. Murray, Pres., W. E. Rathbone,
Capital,
$75,000. Surplus,
$50,000.
Vice-Pres., A. W. Crossan, Cash., H. C.
Deposits, $475,000.
Marks, Ass’t Cash. U. S. Depository.
J. A. Fitchpatrick, Pres., Fred C. Mc
Call, Vice-Pres., E. A. Fawcett, Cash., W
G. A. Klove. Ass’t Cash.
G L A D B R O O K — F i r s t N a tio n a l B a n k .
Capital, $50,000. Surplus, $25,000. Un
divided Profits, $20,000. Deposits, $875,- N E W T O N — J a s p e r C o u n ty S a v in g s B k .
Capital, $100,000. Surplus and Profits,
$50,000. Deposits, $725,000.
°°Martin Mee.. Pres.. M. H. Rehder,
Vice-Pres., E. W. Brauch, Cash., Frank
J. M. Woodrow. Pres., F. M. Woodrow.
Vice-Pres., A. E. Hindorff, Cash.
Kelley, Ass’t Cash.
H A R T L E Y — German Savings Bank.
Capital, $20,000. Surplus and Undi
vided Profits, $15,666. Deposits, $316,°° J. T. Conn., Pres., Wm. T. Voss, VicePres., G. E. Knaaek, Cash., H. P. Mousel,
Asst Cash._________
N E W T O N — First National Bank.
Capital, Surplus and Profits, $140,000.
Combined Deposits, $675,000.
W. C. Bergman, Pres., H. B. Allfree,
Vice-Pres., O. F. Ecklund, Cash., L. A.
Russell, Ass’t Cash.
Capital, $100,000. Surplus, $100,000.
Undivided Profits, $15,000. Deposits,
$1,050,000.
J. A. Young, Pres., Wm. A. Cook,
Vice-Pres., W. F. Wilson, Cash., A. W.
McCulley, Ass’t Cash. ____________________
A U K E E — W aukee
S a v in g s B a n k .
W, G. Harvison, Pres., Robt. Steven
son, Vice-Pres., A. A. Leachy, Cash.
Capital. $10,000. Deposits, $60.000.
W E B S T E R C I T Y — F i r s t N a tio n a l B a n k .
Capital, $100,000. Surplus, $60,000.
W. J. Covil, Pres., E. F. King, VicePres., W. C. Pyle, Cash., E. E. Mason,
H. O. Cutler. Ass’t Cashiers.
W I N T H R O P — W in th r o p S ta te
Bank.
Capital, $25,000. Surplus and Undi
vided Profits, $10,000.
W. B. Halleck, rres., A. J. Dunlap,
Vice-Pres., E. Brintnall, Cash., H. M.
Bucher, Ass’t Cash.
“Roll of Honor” Banks in Iowa
T h e bank s listed under th is h ea d in g h ave “ S U R P L U S A N D P R O F I T S ” acco u n ts equal to, or exceed in g 50 per cent of
th eir ca p ita l stock . T h e y h ave special fa cilitie s for m a k in g collection s and m a y be relied upon to g ive prom pt an d careful
atten tio n to a ll business received. Correspondence in vited .
Capital
Surplus &
Profits
Cherokee........ FIRST NATIONAL . . .
50,000
100 ,000.00
Holstein........ HOLSTEIN SAVINGS
60,000
60 ,000.00
MADRID S T A T E ........
25,000
1 7 ,000.00
Marshalltown. STATE B A N K ..............
100,000
Bank
T ow n
Our Special Service
Send Cherokee items direct to this bank.
low rates.
Prompt returns—
The success of this bank is due to its continuous manage
ment by the same officers for twenty-six years on con
servative, obliging business principles.
9 0 ,000.00 Send us your collections for prompt and careful attention.
Representative South Dakota Banks
These Banks Have Special Facilities for Handling Collections and any Other Business Entrusted to Them
S U M M I T — Summit Bank.
L E M M O N — First National Bank.
Capital, $10,000. Surplus, $2,000. Un
divided Profits, $1,000. Deposits, $162,-
Capital, $25,000. Surplus, $7,500. Un
divided Profits, $1,000. Deposits, $250,-
O. P. Brustuen, Pres., C. P. Lien,
Vice-Pres., C. H. Lien, Cash., G. C.
Mögen, Asst. Cash.
C. D. Smith, Pres., T. C. Sherman,
Vice-Pres., A. J. Behrmann, Asst. Cash.
000.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
000.
November, 1915
THE
NORTHWESTERN
BANKER
T h e National Bank of the
R E P U B L IC
of Chicago
continues to offer banks and bankers the
advantages of its facilities, developed and
perfected by nearly twenty-five years of
close personal relations with a constantly
growing list of correspondents through
out the world.
OFFICERS
JOHN A. LYNCH, President
R. M. McKINNEY, Cashier
JAMES M. HURST. Ass’t Cash.
THOS. D. ALLIN, Ass’t Cash.
W. T. FENTON, Vice-President
O. H. SWAN, Ass’t Cashier
WM. B. LAVINIA, Ass’t Cash.
LOUIS J. MEAHL, Ass’t Cash.
Merchants National Bank
BU RLIN GTON , IO W A
Capital, $100,000
Surplus and Profits, $130,000
O FFICER S
J. L. E D W A R D S
W . E. B LA K E
President
Vice-President
JA M E S M O IR
A L E X . M O IR
Vice-President
Vice-President
H. J. H U N G E R FO R D
Cashier
F. L. H O U K E
C. L. F U L T O N
Ass’t Cashier
Ass’t Cashier
D IR E CT O R S
W . E. BLAKE, Chairman
H. A. BROWN
JAMES MOIR
W . C. TUBBS
JOHN BERNARD
W . W . COPELAND
ALEX MOIR
J. L. EDWARDS
J. L. W AITE
Your
So u th eastern
Io w a
G. H. RAGSDALE, President
B u sin e ss
A Service based on
the facilities and
experience gained
during half a cen
tury is extended to
banks and bankers
by the First National
Bank of Chicago.
Correspondence is
invited by this
old , strong and
conservative bank.
In vited
EDWIN G. RAGSDALE, S ecretary
H. B. RAGSDALE, Treasurer
IO W A LITHOGRAPHING
COMPANY
DES M O IN E S .................... IOWA
Established 1856
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
59
THE
60
NORTHWESTERN
The Chase National Bank
Stock Yards National Bank
of the C ity of New Y o r k
of South Omaha
57 Broadway
UNITED STATES DEPOSITORY
C a p ita l
.
.
.
.
If you want the best possible serv
$
S u rp lu s and P ro fits (Earned)
D eposits
.
.
.
.
5,000,000
ice in connection with any busi
9,716,000
ness you have at the South Omaha
179,461,000
O F F IC E R S
A. Barton Hepburn, Chairman
Albert H. Wiggin, President
Samuel H. Miller, V .-P res.
William E. Purdy, Ass't. Cash.
Edw. R. Tinker, J r ., V.-Pres.
Chas. D. Smith, Ass’ t. Cash.
Allred C . Andrews, Cash.
WiUiam P . Holly, Ass’ t. Cash.
Chas. C . Slade, Ass’ t. Cash.
George H. Saylor. Ass't. Cash.
Edwin A. Lee, Ass’ t. Cash.
M. Hadden Howell, Ass’ t. Cash.
Stock Yards, send it to us.
Our
location and facilities
un
are
equalled.
Capital and Surplus $1,125,000.00
D IR E C T O R S
HENRY W. CANNON
JAMES J. HILL
A. BARTON HEPBURN
ALBERT H. WIGGIN
November, 1915
BANKER
GEORGE F. BAKER, JR.
FRANCIS L. HINE
JOHN J. MITCHELL
GUY E. TRIPP
WE RECEIVE ACCOUNTS OF
Banks, Bankers, Corporations, Firms or Individuals
on favorable terms, and shall be pleased to meet or
correspond with those who contemplate making
changes or opening new accounts.
H.
C. BOSTWICK, President
J . S. KING, Ass’t to President
J . C. FRENCH, Vice-President
H. C. MILLER, Assistant Cashier
J . B. OWEN, Cashier
F. J . ENERSON, Assistant Cashier
FOREIGN EXCHANGE DEPARTMENT
Drovers National Bank
OF CHICAGO
Capital and Surplus, $1,000,000
Has for thirty years rendered quick and efficient service
to its correspondents
R esou rces, E lev en M illion D ollars
Officers
OWEN T. REEVES, JR., President
M . W . TILDEN, Vice-President
GEO. M . BENEDICT, Cashier
F. N. MERCER, Asst. Cashier
H. P. GATES, Asst. Cashier
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Directors
W M . A. TILDEN
L. B. PATTERSON
JOHN FLETCHER
AVERILL TILDEN
W M . C. CUMMINGS
GEO. M . BENEDICT
BRYAN G. TIGHE
M . W . TILDEN
OWEN T . REEVES, JR.
@FedFRASER