Full text of The Northwestern Banker : November 1917, Twenty-Second Year, Number 363

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T W E N T Y -S E C O N D Y E A R

D E S M O IN E S , IO W A , N O V E M B E R , 1917
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II Northwestern National Life Insurance Co.
MINNEAPOLIS, MINN.

JO H N T . B A X T E R , P r e s i d e n t
If

PURELY

MUTUAL,

OLD-LINE,

OF THE CITY OF NEW YORK
Nassau and Pine Streets

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W IL L IA M W OOD W ARD . .P re s id e n t
E. H A Y W A RD P E R R Y .........V .-P re s.
SAM UEL W O O LV ERTO N . . .V .-P res.
JO S E P H B Y R N E ...................... V .-P re s.
CHAS. H. H A M P T O N .. . . . . . .V .-P re s.
E L M E R E. W H IT T A K E R -----C a sh ie r
J. NIEM A N N ........................ A sst. Cash.
W IL L IA M D O N A L D ........... A sst. Cash.
G E O R G E E. L E W IS .........A sst. Cash.
H E N R Y P. T U R N B U L L . .A sst. Cash.
WM. E. CABLE, J R ...........A sst. Cash.
WM. H. SUYDAM, M gr. F o re ig n D ept.

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Established 1851

{{ Capital
H Surplus and Profits

COMPANY

OMAHA

D ir e c t o r s

F, A. CHAMBERLAIN, Chairm’n First & Sec’ty Nat. Bank
E. W. DECKER, Pres. Northwestern National Bank
C. T. JAFFRAY, Pres. First & Security Nat’l Bank
T. B. JANNEY, Pres. Janney, Semple, HUI & Co.
E. L. CARPENTER, Pres. Shevlin-Carpenter-Clarke Co.
B. F. NELSON, Pres. Hennepin Paper Co.
A. A. CRANE, Vice-Pres. First & Security Nat’l Bank
J. A. LATTA, Vice-Pres. Northwestern National Bank
JOHNT. BAXTER,Pres. Northwestern Nat’l Life Ins. Co.

HOTEL FONTENELLE

|| — Hanover
National
Bank
11

WESTERN

T O T A L N U M B E R 363

111II 111111111111111111111II III II 11II II 111111111 II 11II II 111111111111111111 II I II 111111111
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NEBRASK A

FED ER AL LAND
BANK OF OMAHA,
NEBRASKA
4y2% FARM LOAN BONDS
Exempt from Federal, State, Municipal
and Local Taxation.
Redeemable a t par and accrued interest
on any interest date after five years from
date of issue. Coupon bonds exchangeable
for registered bonds, which in turn are
re-exchangeable for coupon bonds. De
nominations, $1,000, $500, $100, $50, and
$25.';

Bankers are invited to
make this hotel their
hom e w hen visiting
Omaha.

$3,000,000
16,000,000

Management—H. E. GREGORY

T h e b o n d s are a ccep ta b le a t par as sec u r
it y for a ll G o v e r n m e n ttd e p o sits, in c lu d in g
P o sta l S avin gs d e p o sits, an d are leg a l in
v e stm e n ts for tr u s t fu n d s, an d for Savin gs
B an k s an d In su ra n ce C om p a n ies in a m a
jo r ity of th e S ta te s.

A Circular of Detailed Information Will Be Sent
on Request.

FEDERAL LAND BANK OF
OMAHA
ESTABLISH ED 1870

FIRST NATIONAL BANK
|
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SIOUX CITY, IOWA

New Business Invited
on the b a s is of

SATISFACTORY SERVICE
Resources Over $3,000,000.00

II FIR ST NATIONAL BANK
DAVENPORT, IOWA

L J. YAGGY, Cashier

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Federal Reserve Bank of St. Louis

A. F. DAWSON, President

Capital . . . .. .
Surplus . . . . .

If
=£

$600,000.00
$120,000.00

O ur Facilities for H andling Bank A ccounts [j
Are, W e Believe, Unexcelled. W e Solicit |[
Y our Business.
[[
JOHN J. LARGE, President
F. A. McCORNACK, Vice-President
H. A. GOOCH, Vice-President
L. H. HENRY, Vice-President
J. L. MITCHELL, V ice-President
O. D. PETTIT, Cashier
FRITZ FRITZSON, A sst. Cashier

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THE

NORTHWESTERN

BANKER

November, 1917

I T he A m e r ic a n St a t e B a n k I
C A P I T A L , $200,000.00
M . F . S H A F E R , President
W . E . S H A F E R , V ice-President

OMAHA

[O W A B an k s desiring an
A accom m odating Omaha
connection are invited to cor
respond with our officers.

L . M . S W I N D L E R , Cashier
J. C. CHAM BERLIN, A ss’t Cashier

lV/fANAGED by bankers of
• a* practical experience who
k now the requirem ents of
Middle-Wesft Bankers.

Capable service in every banking detail is
assured the customers of this Institution.

The Mechanics and Metals National Bank
OF THE CITY OF N E W YORK
ESTABLISH ED 1810

Total D ep osits (Sept. 11,1917) $187,000,000.
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I T H E F IR S T N A T IO N A L B A N K 1
I

W A T E R L O O , IO W A

Onr Capital---$200,000.00

Our Surplus and Profits---$250,000.00
OFFICERS

A* M . P L A C E , V ic e - P r e s id e n t
J A S . B L A C K , V ic e - P r e s id e n t

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|

F . J . E I G H M E Y , P r e s id e n t

F . P . H U R S T , A s s t . C a s h ie r
V . J . R E C H T F E R T I G , A s s t . C a sh ie r

We solicit your business on the most favorable terms consistent with safe and conservative banking,
We pay interest on bank balances.

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CENTRAL TRUST COMPANY
OF ILLINOIS
C H IC A G O

C a p i t a l .....................................$ 6 ,0 0 0 ,0 0 0
Surplus and P ro fits . . .
2 ,5 0 0 ,0 0 0
D e p o s i t s .............. ..
5 0 ,0 0 0 ,0 0 0
A ccounts of banks and bankers received upon favorable term s
Thoroughly equipped to handle all business pertaining to banking , and invites the accounts of
banks , corporations , firms and individuals.

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Federal Reserve Bank of St. Louis

November, 1917

W IL L IA M E. B R IG G S
Vice President Northwestern National Bank, Minneapolis

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Federal Reserve Bank of St. Louis

N o rth w estern B a n k er
709-710 C R O C K E R B U IL D IN G , D E S M O IN E S , IO W A

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.

I
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Clifford De Puy
Publisher

NOVEMBER, 1917
Special Representative

St. Louis Office
Chicago Office
New York Offlee
Charles Burke
R. Fullerton Place
Frank S. Lewis
Herbert Armstrong
Jerome Spanier
Care Northwestern Banker 840 Lumber Exchange Bldg.
418 Merchants-Laclede Bldg
410 Advertising Bldg.
819 Brunswick Bldg.
«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.
Minneapolis Office

THE LIBERTY LOAN AND SAVINGS DEPOSITS
€L When the first Liberty Loan was offered to the people of the United States many bankers
were fearful lest the deposits in savings banks would be materially reduced by depositors with
drawing their funds and purchasing Liberty Bonds. Figures which have been compiled show
ing the deposits in savings banks indicate that there has been an increase rather than a de
crease since the first Liberty Loan was floated and while, of course, it is too early yet to secure
figures from the savings banks since the second loan was offered to the public, we are quite
sure that depositors have purchased the new issue of bonds without having it affect their sav
ings deposits. The deposits in savings banks of United States on December 31, 1913, were
over $624,000,000. On December 31, 1916, they were $845,000,000./ On March 31, 1917,
they were $888,000,000. This is a steady increase and we are sure that the statement for
January 1, 1918, will show a gain over any preceding year. While, of course, there have been
some withdrawals from savings banks by depositors who have purchased Liberty Bonds,
the figures show that the trend is upward and? that bankers need have no apprehension con
cerning the loss of deposits, becau§e of the sale of Liberty Bonds.

MOBILIZING OUR GOLD RESERVE
C In order to mobilize the nation’s gold reserves President Wilson has issued a statement
urging all of the non-member banks to join the Federal Reserve System in order that their
gold reserves might be under the supervision of the Federal Reserve Board. Bankers are
coming to realize more and more the wonderful help that the Federal Reserve Bank has been
during the past few years and undoubtedly many of the non-member banks will join the sys
tem in the near future. We do not believe however that any non-member banks should be
forced into the system, but we do believe that the law will be made so attractive that non
member banks will wish to come in of their own accord. The big city banks are using the re
discount privileges of the Federal Reserve Banks more than they ever have, and this, as we
see it, is one of the real benefits granted to member banks. In his statement the President
said: “It is absolutely imperative that there should be a complete mobilization of the banking
reserves of the United States. The extent to which our country can withstand the financial
strains for which we must be prepared, will depend very largely upon the strength and stay
ing power of the Federal Reserve Banks. There are probably 8,000 or 9,000 state banks and
trust companies eligible for membership which have not united with the system. I wish again
to impress upon them my solemn conviction that they can best measure up to their duties and
responsibilities through membership in the federal reserve system.”

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Federal Reserve Bank of St. Louis

Ya
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I

COUNTRY BANKS OFFER BEST OPPORTUNITIES FOR YOUNG MEN
C[ In the course of a year we receive a great many letters from young men who are working in
city and country banks, asking our advice as to whether the small town or the large city offers
the best opportunity in which to commence the banking business.
The other day we received
a letter from a young man in a bank in a town which has a population of 400. In his letter
he said: “I am interested and ambitious in landing a good bank connection, where a block
of the stock is available and where wide experience is offered. I have always had the fortune
of being located in a small town and pray tell me, which do you consider offers the best and
widest experience, the real small town or one that is a little larger. Having had no experience
with a larger town than 1,000 people, I do not know which is the better in which to locate.
I have had six years’ banking experience, I am very ambitious and willing to work hard and
long to bring about success.” It has always been our belief that a young man about to enter
the banking business can learn more about it in a country bank, than in a city bank. The
average country banker has to make loans, receive deposits, issue letters of credit, clerk at
sales and if necessary sweep out in the morning and preside at the board of directors meetings
at night. This experience covers all of the fundamental problems connected with banking
and we believe that any young man will build on a substantial foundation, if he commences
in a country bank. The young man in the city bank as a rule has one thing to do and does not
have a chance to grasp so easily the whole working plan of a big financial institution. It has
been our observation that most of the big city bankers acquired their first training in some
country bank. In replying to the inquiry referred to above we suggested to this young man
that he enter the banking business in a town of from one to two thousand people, as this would
give him a chance to broaden out some, but the change would not be so great that he could not
adjust himself easily to the banking conditions of the community. Then if later on he felt
that he had reached the limit of his efforts in that town he could try a larger city. It has been
our observation however that the men who have made the most out of the banking business
in the smaller towns have been the ones who have stayed with one bank and developed their
institutions as the community grew and expanded. You will find that many of our most suc
cessful country bankers of today commenced their banking business in that same town many
years ago. After a man has made a success of his bank in the smaller towns, there are always
opportunities open for him in the larger city institutions, if he so desires. The big city banks
are always looking for men of ability, energy and good judgment, who cannot only secure them
new business, but also assist in handling the business, which they already have. But what
ever you do don’t get into a rut. This can happen just as well in a country bank as in the city.
Think in larger units. Study the world about you. Look ahead, at the problems that may
confront you tomorrow and by having a solution ready, you will be assisting not only your
bank, and yours customers, but at the same time you will be building for yourself a stronger,
more enduring, more lasting foundation in the banking business.

For $2.00 is all th at is required to_se
cure the monthly visits of the Northwestern Banker for an entire
year. Each issue contains from 56 to 64 pages of mighty inter
esting m atter pertaining to banks and banking interests in
the territory covered by the magazine.
“ OCR CORRESPONDENTS” E v e r y b a n k in the
Northwest is invited to a place on this list. Send us
item s of 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” of good will and additional service, and will
promptly honor drafts made upon same by any bank.
This department is for your special benefit. I t may
be made of very great benefit to your bank. Do not
fail to avail yourself of its privileges.
“ A CLEARING HOUSE*’ Our columns are a clear
ing house for all our readers. Express your views on any
“ A CASHIER’S CHECK”

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Federal Reserve Bank of St. Louis

ss
topic of interest 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 of ideas, and people with whom
we disagree often prove valuable teachers. We shall be glad
¡¡nSss. to hear from you.
“ NO PROTEST” Has ever been offered to the stateri . ment th at the field covered by the Northwestern Banker
is the money-producing section of the American continent,
™ rich in hogs, cattle, corn, etc., and dotted with thou
sands of prosperous banks, all doing a good business,
and the majority of 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 twenty-two years in its present field.

The Northwestern Banker
$2.1)0 Per A nnum

DES MOINES, IOWA, NOVEMBER, 1917

20 C ents Per C opy

My Observations
of
the
World
War
By Lord Northcliffe
While many people have not agreed with Lord North loans. And I may tell you
I come before you chiefly
cliffe that this would be a long war, his prediction in 1914
as a man who made a study that
that last loan exceeded six
the war would not be over in three months, as many
of this war long before the thought
then, has proven to be true, and his opinions re billions of dollars, and that
war; as a man who made garding the war are recognized as being sound. In this there were five millions of
a speaking tour of this address which Lord Northcliffe delivered before the Ameri subscribers to it, many of
Bankers Convention at Atlantic City, he outlined some
country in 1898 and again can
them men working at the
the things which England has done and suggests some
in 1908, saying what I of
forges, in the shops, on the
things we will have to do in order to bring this war to a
thought was building in victorious conclusion.
railroad, in the counting
Europe, and I come before
houses, on the farms, and
you as a man who has spent much of the last three even on the ships.
years at the war itself.
These loans to the Allies, in my opinion, are bene
I had no idea when I arrived in the United States ficial quite apart from the fact that they are support
that it would be possible to gather representatives of ing the war through the navies of France, Great Brit
so vast a number of your great banks in one conven ain and the armies in Belgium and in Russia. We
tion, and I had no idea that I
have come to the conclusion
should ever have the honor
that though the evils of war
of addressing so many men
are great, the circulation
“I know it is much more pleasant to try to
of so much influence and im
among the workers is very
make people happy by telling them that the
war will be over by Christmas, or, at any rate,
portance in their respective
beneficial Wages were never
by Easter. We have had three years of those
localities.
higher in Great Britain than
prophecies in England. Indeed, there were peo
I hope you will not think
they
are now, and I know
ple there who thought the war would be over in
me vainglorious or desirous
from personal investigation
six weeks. I remember the report of a distin
guished company of business men— 1 won’t say
of saying too much on behalf
that that is so here in the Uni
that they occupy so lofty a position as bankers
of my country when I men
ted States. Far be it from me
— who, at the end of their meeting, came to the
to glorify war. I have seen
tion that we have scattered
conclusion that the war would be very short
over the vast theatre of war
too much of the horrors of it
because in these civilized days such a thing as
war was impossible. They did not realize that
7,500,000 men. Some of them
to ever care to see it again;
the very utilization of all the inventions of
are in Palestine, some of
but we must look at both
American genius, like the aeroplane, the sub
them in Mesopotamia, some
sides of it, we must realize
marine, the machine gun, would all tend to
of them in Africa, and those
that if we are to get in sub
make war much more difficult and, in my opin
that you chiefly hear of are
ion, much longer. They thought that by using
scriptions to these loans the
the means of science and invention the war
engaged in what is known as
working people must have
would be very speedily over; that it would be
the western front, endeavor
their share of the vast amount
of so frightful a nature that no one of the na
ing to free Belgium and
of capital necessary to the
tions could maintain it for any great period of
France. We did have our
time. We suffered greatly in Great Britain by
waging of the war.
this idea of a short war.”
financial part of the war. The
I come to the United States
war is costing Great Britain
in a period very much like
$35,000,000 a day, and that
that which I endured in Great
was so up to the time you came into the war and Britain two years ago. We had very little realization
began to nürse the financial baby, and up to that time of what war meant to democracy. We thought we
we had advanced to the Allies $6,000,000,000, and we would be able to conduct our business as usual. There
are making now, as you are, very large advances to was quite a business slogan, using those very words,
the Allies.
“Business as usual.” Money was plentiful. Working
There is one subject upon which many of my Amer men who had hardly ever ridden in an automobile
ican friends think I can speak, and that is in respect owned them. We did not realize that for the success
to the loans made by the United States to the Allies. ful conduct of war thrift and saving were absolutely
I have found well-educated people who think that essential. We did not realize that we must conserve
these loans cross the Atlantic in some mysterious way. every ounce of energy and every available product in
As a matter of fact, ev*ery cent advanced is spent in order to accomplish the defeat of the enemy. We
an increase of wages in Bridgeport, in Bethlehem and did not realize that most of the business of the ordi
in other of your cities. All the money is spent here, nary peaceful life could be adapted to the purpose of
and much of the money will come back in the form winning the war and bringing again freedom to the
of subscriptions to the Liberty bonds, for I have no world.
doubt that the American workingmen will subscribe
The belief in a short war was widely spread by per(Continued on page 11.)
as liberally as have our workingmen for our national

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Federal Reserve Bank of St. Louis

November, 1917

THE

NORTHWESTERN

BANKER

In N o Man’sByLand
and
Beyond
F. H. Sisson
In this interesting article by F. H. Sisson, Vice President
Out of the trenches of se
spindles in the United
of the Guaranty Trust Company, of New York, he points
curity, the United States is out
States. There probably will
the future development of this country and shows that
today plunging through the we are
be no immediate lessening
on the threshold of a great period of expansion,
“No Man’s Land” of the which lies before us. He also points out that a premium of the demand for the pro
world war. Day by day the such as never before existed has been placed on commer ducts of the mills; indeed,
great conflict is brought cial foresight.
it is likely that there will
closer to the minds of all
be a greater demand. The
Americans. We are gradually awakening to a realiza addition of a single pound per capita to the world’s
tion of what it means. We are beginning to learn that consumption, however, would increase the need for
war is “a great job to be done”—and done thoroughly. cotton, one authority has computed, by more than four
We are just discerning that it is not only the nation’s million bales. So, it is manifest that there will be
business but that it is also the dominating factor in sharp readjustments. This will be true of all our in
every business. So it behooves us all, in whatever ac dustries and businesses. Far beyond “No Man’s Land”
tivity we may be engaged, to study developments care lies Every Man’s Ground—world organization and
fully and to weigh their effects accurately in order that public control, which will not be restricted by national
we may direct our respective businesses with sound boundaries or interests.
judgment based on new and unaccustomed facts.
We were unprepared for war; we cannot afford to be
But, as we go into the “No Man’s Land” of busi unprepared for peace, too. The banker, the business
ness, it may be well to pause for a moment to consider man, the manufacturer and the public, all will have to
the motive power of our great drive. That may serve make ready for the time when the sword will be ham
to visualize more distinctly for
mered into the plowshare.
us the great goal toward
There will be greater produc
which we aré charging. The
tion as the looms of peace be
“We were unprepared for war; we cannot af
force that is impelling us on
gin to weave again, and a de
ford to be unprepared for peace, too. The
banker, the business man, the manufacturer
to unparalleled achievements
cline in values will be un
and the public, all will have to make ready for
for the triumph of right over
avoidable. And because of the
the time when the sword will be hammered into
might is the will of the Amer
greater inter-dependence of all
the plowshare. There will be greater produc
ican people, who count no sac
tion as the looms of peace begin to weave
business interests occasioned
again, and a decline in values will be unavoid
rifice too great for the just
by the closer national co-op
able. And because of the greater inter-depend
cause of their country. Our
eration generated by the war,
ence of all business interests occasioned by the
unmatched determination to
the losses sustained in one
closer national cooperation, generated by the
war, the losses sustained in one quarter will
do on a colossal scale has
quarter will be felt in others.
be felt in others.”
wrotight u n p r e c e d e n t e d
If we are to continue the
changes in our economic ex
country’s present prosperity,
istence. The United States of
it is imperative to conserve
six months ago was very different from the United our money to a greater extent than has ever been done
States of today. No better evidence of the amazing before. We must pool our capital, as it were, in the
change is required than that contained in the record interest of the government, and of our own future.
of the Sixty-fifth Congress, which adjourned on the
Transportation facilities constitute a most important
sixth of October.
element in practically every phase of our life. Presi
No previous Congress enacted so great a mass of dent Wilson has fittingly referred to the railways of
legislation of such vast importance. Its appropria the country as “the arteries of the nation’s life.” And
tions, totaling twenty-one billion dollars, are truly war’s fiat imposes the responsibility, to quote the
staggering. The mind cannot comprehend their stu President again, “of seeing to it that those arteries
pendous aggregate significance. But, the activities of suffer no obstruction of any kind, no inefficiency or
this historic Congress are not to be measured in bil slackened power.”
lions or tens of billions alone. The statutes enacted
“Unless the railroads keep the wheels of their freight
by it have, or will, affect the lives and businesses of all trains turning, soldiers cannot be moved or fed; unless
of us. These war measures register the quickening of the railroads can freely transport fuel and raw and fin
our collective thought beyond national interests. They ished material, there will also be a serious reaction in
connote world dominance for the United States in pro general business, making it extremely difficult for the
duction, transportation and finance.
government to float its all-important Liberty Loans.
We are merely on the threshold of the great period But the railroads cannot keep the wheels of their
of expansion lying before us. And a premium such freight trains moving, either for the army or for gen
as never before existed has been placed on commercial eral business, without sufficient motive power. And
foresight. This result is more pronounced in no busi by motive power I mean not merely fuel and locomo
ness than that of the cotton manufacturer, which you tives and labor, but adequate public and governmental
represent.
support, and just rates for the service rendered.
The war has created a general and unequaled pros
By means of that power the splendid example of
perity in this country. But we should not forget that national co-operation afforded in railway readjust
when Mars, the world’s greatest consumer, ceases to ments can, in a large measure, be made permanent. It
buy the reaction is bound to be felt, directly or indi will lead to further progress toward an ideal of efrectly, by-every one of the nearly thirty-three million
(Continued on page 69.)

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

BANKER

November, 1917

The First Joint Stock Land Bank
By O. F. Schee
Many bankers have been interested in studying the plans
The Joint Stock Land
num will pay interest and
which the Federal Land Banks and Joint Stock
Bank is a child of the under
entire principal of a $10,000
Land Banks will operate, as provided in the recent law
Government born at the passed by Congress. In this article O. F. Schee, vice presi loan in a little less than 35
same time—the same hour dent of the First Joint Stock Land Bank of Des Moines years. The loan never falls
as the Federal Land Bank and Chicago, explains in a very simple and concise man due all at once.
ner the benefits to be derived from this new legislation,
under the Federal Farm with
It is amortized, paid off
special reference to Joint Stock Land Banks.
Loan Act, and no doubt
by the small payment of
this is the reason so many have classed the two as $10 per thousand dollars paid in addition to the inter
one and the same and on account of this confusion est. The farmer does not tie himself, or his farm up
we'are pleased to have this opportunity to outline the for that period of time. He may pay on the principal
basic plan of the Joint Stock Land Bank and its di on any interest paying date after five years. He may
rect relation to the Government—Banker and Farmer. also make payments before the expiration of the fiveBy a brief comparison it is very easy to firmly estab year period by special arrangement, should he wish
lish in your minds the difference between the two to do so. The borrower is not required to be actually
an occupant of the land and there is no restriction
plans outlined by the Federal Farm Loan Act.
(1) The Federal Land Bank (of which there are as to the use of the funds borrowed.
The Government Farm Loan Board had in mind
twelve in the United States) is capitalized by the Gov
in creating the Joint Stock
ernment and operates under
Land Bank to open up the
the plan of loaning money!
“The Joint Stock Land Bank is capitalized
most desirable avenue for
only through associations of
with private capital with its charter coming
the larger farmer—the farmer
farmers organized in each
direct from the government, subject to govern
with the vision for the bigger
community with certain limi
ment examination and scrutiny the same as
future to finance himself for a
tations outlined by the Gov
national banks, but all loans are made to the
individual borrower direct or through his local
generation. There is both
ernment as to how and where
bank or agency and no restrictions are placed
economy and foresight in so
the money borrowed shall be
on the borrower as to how he shall use the
doing.
spent.
money. The Joint Stock Land Bank is per
This law makes it possible
(2) The Joint Stock Land
mitted to make loans up to 50 per cent of the
valuation of the land and 20 per cent of the
for the farmers to make
Bank is capitalized with pri
insurable valuation of the buildings as ap
money by borrowing money.
vate capital with its charter
proved by two local appraisers and the govern
Its intention is to place
coming direct from the Gov
ment appraiser furnished by the Federal Farm
money' within reach of the
ernment subject to Govern
Bank. The loans made are just the ordinary
farm loan contracts between the borrower and
farmer on such terms as to
ment examination and scrut
lender on very liberal terms and with prepay
convert the farm mortgage
iny the same as national
ment' privileges, except that the loan must be
into a source of profit.
banks, but all loans are made
on the amortization plan, which has proven
The farm mortgage busi
to the individual borrower di
most successful for centuries in European
countries and which our own government has
ness is probably the only
rect or through his local bank
approved as the best plan of financing the
business involving billions of
or agency and no restrictions
farmers so they may not only pay in full for
dollars that has not been
are placed on the borrower as
their land, but expand their business as other
America.
to how he shall use the
large businesses do when properly financed for
a long enough period.”
Practically all farm loans
money.
have been made for a period
The Joint Stock Land Bank
of five years, a period of time
is permitted to make loans up
to 50% of the valuation of the land and 20% of the in which but few farmers could expect to pay a loan
insurable valuation of the buildings as approved by amounting to half the value of their land. Corpora
two local appraisers and the Government appraiser tions and municipalities issue bonds for twenty, fifty
or one hundred years, thus avoiding the expenses and
furnished by the Federal Farm Bank.
The loans made are just the ordinary farm loan annoyances of frequent renewals or refinancing, yet
contracts between the borrower and lender on very the corn-belt farmer with the most stable security in
liberal terms and with prepayment privileges except the world has been asked to make his loans for only
that the loan must be on the amortization plan which a short period of time.
The farmer who can borrow money and so use it
has proven most successful for centuries in European
countries, and which our own Government has ap that he will be in easier circumstances on account of
proved as the best plan of financing the farmers so the debt, ought to borrow it.
If he can borrow money and make the money pro
they may not only pay in full for their land but ex
pand their business as other large businesses do when duce more for him than it costs him to carry the debt,
it is good business for him to borrow, provided that
properly financed for a long enough period.
All loans made by this bank will be made on the the time of payment is far enough in advance so that
rich flat black corn lands of Illinois and Iowa. Will he can be certain that he will never be cramped by the
run for such periods of time as the borrower requires demands of the lender.
Such an opportunity as this should give courage
and in every case will be repayable on a flat rate.
That is, in addition to the interest at
per cent, to an enterprising farmer to buy more land, to im
the borrower pays $10 per $1,000 on principal annually. prove his farm and live stock, and have the use and
On a loan of $10,000 the payment of $650 per an profits therefrom during the period of the war.

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Federal Reserve Bank of St. Louis

November, 1917

THE

NORTHWESTERN

BANKER

How to Hold Business After the War
By Wm. C. Cornwell
The great problem which will face American business
The most wonderful
It is only a faint and farmen when peace is declared will be how to hold the
products in the world, if
off
sound. But the full
business which has been created by the war, which has
they are not brought into
melody will break some
brought to our shores unlimited business and untold
the zone of observation,
wealth. In this article, W. C. Cornwell, of J. S. Bache &
time. We are in the floodCompany, tells how we can hold this business and of the
might as well never have
tide of prosperity now.
part salesmanship will play in this connection.
been made.
But natural law will pre
The man who makes the thing is helpless without vail. Bleak winter comes after the harvest—famine
the man who makes the market.
follows plenty—the moon never drew a tide to the
These facts have been recognized more and more shore but that it let it fall back again and left the
as the machinery of modern civilization has grown rocks and sands bare.
more and more complex.
We are bound to have the ebb tide in this country
The vast growing populations have made increas some time, and it is the ebb tide that will try men’s
ingly difficult the solution of the problem of how to capacity. That time will bring the test of salesman
distribute and sell the products of man’s invention ship. It is easy to sell goods when the tide of wealth
and genius.
and comfort is full, when men are making money and
Salesmanship is an art that has been a power in able and willing to spend freely and buy heedlessly.
the world, and American salesmen have to their credit The best man in your business is the one wjio can
some great accomplishments.
keep up sales when profits are
They have revolutionized ag
lopped off, and the public has
riculture in the fields of Ru
“But now we have the world as a customer
become wary and critical and
and almost without competition. That situation
mania and Russia, by the in
uncertain—when times are be
cannot last. We have heard within a few days
troduction of the steam plow;
coming hard. That is the
the flutter of peace. It is only a faint and farthey have facilitated business
testing time for the expert.
off sound. But the full melody will break some
all over the world through the
time. We are in the floodtide of prosperity
Now, I do not mean to say
now. But natural laws will prevail. Bleak
American typewriter. The Na
that with the coming of peace
winter comes after the harvest, famine follows
tional Cash Register has
all demand will drop sudden
plenty— the moon never drew a tide to the
made honesty
automatic
ly, factories close, men be
shore but that it let it fall back again and
W. Gates’ sales of barbed wire
thrown out of work, and hard
left the rocks and sands bare. We are bound
to have the ebb tide in this country some
fence changed for the better
times come at once. That is
time, and it is the ebb tide that will try men’s
throughout the world. John
impossible
in the nature of the
capacity. That time will bring the test of
the cattle-raising of the West
larger contracts on which bus
salesmanship. It is easy to sell goods when
the tide of wealth and comfort is full, when
In America, in these days,
iness is being done. But
men are making money and able and willing
we need especial training in
wherever
it is possible to stop
to spend freely and buy heedlessly. The best
salesmanship, because the war
buying, buying will, tempor
man in your business is the one who can keep
up sales when profits are lopped off, and the
has thrown open the world as
arily at least, stop. And that
public has become wary and critical and un
a market, and—a most won
is because the mind of busi
certain— when times are becoming hard. That
derful thing - -the world prac
ness will be possessed or ob
is the testing time for the expert.”
tically without competition.
sessed by one thought—the
I do not approach this
dread of falling prices. And
phase in American commercial history with any feel prices will fall. Just as surely as excessive demand
ing of exultation, but rather with a sense of humilia has been putting up prices, dollar added to dollar in a
tion.
dizzy upward flight—the cessation of that demand will
We are ripening and fattening on a vast torrent of turn prices the other way and bring them down. And
trade made possible by the dire necessities and mis this will cause hesitation and curtailment, which will
eries of a terrible conflict outside our borders, the bur continue until the new demand to build up stricken
den of which is being borne by people essentially of Europe comes. That ebb tide must be met, and when,
our own blood and nature.
it comes, it may be made of short duration by valiant
And while they are suffering the tortures of hell, salesmanship.
we are thriving and growing rich, untouched by dis
That is the time to press and enlarge the business
tress or pain, and exempt even from the slightest dis we are now establishing with neutral countries like
comfort.
South America and China, and with that great em
In this period of our national, life, how much have pire, Russia, which, though engaged in war, has a
we to be proud of as a nation?
steady and enormous capacity for things, outside of
The great conflagration which is burning up heart war material, to supply its vast internal and domestic
broken Europe has only warmed the air in our gardens wants. And if the tide from Europe ebbs heayily for
and made the flowers grow more luxuriantly. Even a time, good salesmanship may be able to have created
so we do not know what time the fires may sweep a flood tide of sales to these other places, which w ill.
across and envelop us too. And when the fire goes offset the decline.
out, the bitter cold that follows may chill our growing
But in the competition with foreign goods here, it
crop of prosperity to death.
must be pointed out how much depends upon our man
But now we have the world as a customer and al ufacturers. The best of salesmanship will not offset
most without competition. That situation cannot last. inferior goods. American products nearly all along
We have heard within a few days the flutter of peace.
(Continued on page 22.)

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

BANKER

November, 1917

Showing the Children How to Save
Among the many associations throughout the country
In a tiny eating house on
The little red cent, nick that
been teaching the children how to save probably
Mulberry street, between
named the “penny” and the none have
has been more successful during its seventeen years
“sioux,” ordinarily means of existence than the Penny Provident Association, of Des Seventh and Eighth, an
nothing in the life of most Moines, which is an organization for school children, where English woman, named
people except the price of they can deposit their pennies. This organization now has Goldsmith, hands out beef
on deposit with one of the big city banks over $140,000 and
stew and boiled rice to men
another stick of gum.
has been, doing a wonderful work in educating the young
But the little red cent sters not only to save money, but also how to value and who sit at her rounding res
taurant counter.
that has meant only gum to invest it.
“I had three boys and a girl and they all saved their
some, has turned the tide of fortune for a lot of people
pennies in the Penny Provident Association at school,’
in Des Moines.
A big Des Moines bank, for seventeen years has she says. “They went to Lincoln when the saving
looked out through its wicker cage and grinned at the association first started. There was George, he s a
despised penny a welcome far more cordial than that printer now, and William, he has a cleaning and press
ing business, and Alfred—he’s in the restaurant busi
of the gum slot-machine.
In that seventeen years, the pennies of Des Moines ness and Rosa—she’s married.”
And the mother hauls out of the restaurant bread
school children, smiled upon by the bank, have rolled
up into a lump sum of over $140,000 and over 8,000 can, the old bank books of George and William and
school children have tripped up to the barred window Alfie and Rosa, and they all show savings up into the
thousands.
and smiled in at their banker.
“I’ve never let them draw a cent of it out,” says
And he knows the stories of those penny banks by
heart and he gives thanks to the Des Moines Penny Mrs. Goldsmith. “They all have nice little nest-eggs
Provident Association that has taught school kiddies now, and I sort of keep books for them all.”
There was a grocer clerk, whose wife, a number of
the lesson of thrift.
For a good many Saturdays during the school term years ago, each morning sent her two kiddies off to
the banker looked through his cage at Roy Frowick, school. His wage was small and barely covered his
who came with his bank book and deposit of pennies expenses.
When the Penny Provident Association, through the
and had to stand on his tiptoes to do business with the
banker. Roy is seven years old. His penny bank ac teacher at school, began asking the children to bank
their stray pennies, the grocery clerk and his wife gave
count has shot up to something over $30.
“He’s going to make a first-class depositor one of each of the two children 50 cents a week. They kept
(Continued on page 48.)
these days,” says the banker.

Women Take Up Banking Business
That women are rapidly becoming experts in the bank
partment and as a stenog
Eighteen Council Bluffs
ing business, is indicated by the manner in which eighteen
rapher at the First Nation
girls are employed at the
young ladies in the banks of Council Bluffs, Iowa, have
al. It was due in large
present time in the five
taken up this business. This article appeared in one of the
measure to the fact that
daily papers of that city recently and will prove interesting
banks of the city, includ
reading, we are sure, as it also indicates how the young
she made good as the
ing the City National,
women are “doing their bit” at this time, when so many
pioneer woman banker of
Commercial N a t i o n a l ,
young men have enlisted tlo fight for Uncle Sam.
the city that the other
Council Bluffs Savings,
First National and State Savings Bank, keeping pace banks, slowly at first and later with more and more
with their sisters in the larger cities who are just avidity, began filling some of their positions with
learning that banking as a profession is peculiarly women, until today every bank in the city has at least
one woman in a position of real responsibility.
suited to the talents of women.
Miss Baetens remained at the First National for
The banks here have more than doubled their forces
of women during the past year, and in every bank of four years, until after her marriage. And when she
the city nothing can be heard from the officials and resigned, her place was filled with another woman.
clerks alike, but words of highest commendation for Today there are four women regularly employed in
the manner in which they have performed their duties. that bank. They are Miss Helen Breedlove, stenog
The employment of women in various capacities about rapher, and Miss Helen White, Miss Marie Kelson
the banks seems decidedlyNon the increase, and it was and Miss Agnes Hart in the remittance department.
One of the most backward banks of the city in the
not until the past year that two local institutions
broke over the time-honored rule that only men should employment of women was the State Savings, which
employed its first woman clerk only last November.
be permitted behind the counters at the banks.
So far none of the gentler sex has been promoted Now Cashier Tinley of that institution has no less
to a teller’s cage here—is it because they are too gentle than six young women on his staff, three of them there
natured to turn down a bad check?—but, of course, it permanently, while the other three have been working
has not been so many years since the first woman was only during the summer. Miss Grace Dowell was the
hesitatingly admitted to the workroom of a bank here first young woman employed there, followed by Miss
Aurelia Tinley and Miss Mary Carlson, while Miss
•—or any other place for that matter.
The first woman who ever secured employment in a Marion Hanthorn, Miss Maude Thomas and Miss Inah
Council Bluffs bank was Miss Regina Baetens, now Weir have been engaged there during the summer.
It remained for one of the staff of the Commercial
Mrs. Beck, who had a position in the remittance de

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

November, 1917

THE

NORTHWESTERN

National Bank to become the first woman in Council
Bluffs to enlist actively in the army or navy of her
country. Miss Sadie Anderson enlisted as a yeomanette in the navy some weeks ago, and began active
work in the recruiting office in Omaha about ten days
ago. And President Price of the bank says that just
as soon as her duties with Uncle Sam are over, her
position will be open with the bank regardless of who
may be secured to fill it.
Her position has not yet been filled, but another
young woman will be secured there. Two other girls
on the staff of the Commercial National are Miss Alice
Sloan and Miss Gertrude Drier.
Miss Cecilia Mulqueen, well-known Council Bluffs
woman, occupies a position of real responsibility at
the Council Bluffs Savings Bank. She has charge
throughout the regular banking hours of the safety
deposit vaults in the basement of the bank building,
with separate entrance on the Pearl street side. She
has been in charge of this feature of the bank’s busi
ness, as well as doing stenographic work, since the
safety deposit boxes were first opened to the public
last December.
# Four young women are employed at the City Na
tional Bank, one as stenographer and three on the
books, where they have charge of the mechanical book
keeping device operated by this bank, a work at which
they are very successful. These girls are Miss Mary
Wishart, Miss Marie Jessen, Miss Vera Williams and
Miss Myrtle Williams.
Women seem to have come to stay in the banks
here, and there seems every prospect that a year hence
will find even more women employed in the five banks
than is the case today.
OBSERVATIONS OF THE WORLD WAR.
(Continued from page 6.)
nicious propagandists, who told the world that the war
would be short in order that the world should not
prepare. They threw out these peace delusions week
after week, not with any intention of accomplishing
peace, but with the intention of weakening the Allies’
preparations. That is so very obvious that it is sur
prising that any intelligent person should take any no
tice of those peace offerings.
When I think of all the sad things that I have wit
nessed in the last three years I have this one consola
tion : That after all, the war is bringing the allied peo
ples together. We have all learned many things about
France which we did not know and we are all proud
of France. We have seen what a small nation—the
6,000,000 of Belgians that are still living under the heel
of Prussia we have seen with what dignity they can
stand the presence of the oppressor. We have seen
that Italy, goaded for years by Austria, has decided
to throw off the chains that have been placed around
her enterprise and her freedom. And we have seen
here in the United States a peaceful people like your
people and our people aroused to the fact that it is
essential for the world’s happiness that the state of
tyranny imposed by Prussia shall not be further ex
tended.
M. O. Anderson, C. B. Clayton and others have pur
chased the interest of P. J. Cilley in the Farmers Sav
ings Bank, of Hamburg, Iowa.

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Federal Reserve Bank of St. Louis

BANKER

SELECTING
LIQUID LOANS!
In se le c tin g lo a n s in th e s e u n u s u a l tim e s ,
b a n k e r s giv e p r e f e r e n c e to secured loans
— i i c o n v in c e d t h a t th e s e c u r ity o ffe re d is
of l i q u i d c h a r a c te r a n d r e a d ily c o n v e rte d
in to c a sh .

L IV E STOCK. L O A N S , c a re fu lly
s e le c te d , a n d s u p e rv is e d b y a n experi
enced o rg a n iz a tio n fa m ilia r w ith th e liv e
s to c k tr a d e , a r e lo a n s w h ic h a r e liq u id a te d
b y th e s a le of th e s e c u rity , to a m u c h
g r e a te r e x te n t th a n a n y o th e r c la s s of
lo a n s. T h e y a r e r e a l “ Q U IC K A S S E T S ! "
T h e r e is n o in fla tio n in s u c h lo a n s , a n d
b e in g “ c o m m o d ity lo a n s ,” a p r e f e r e n c e is
sh o w n th e m b y th e F e d e r a l R e s e r v e B a n k s.

THE

GUARANTY
C A TTLE L O A N
C O M PA N Y
STOCK YARDS STATION
K A N S A S C IT Y

specializes in cattle loans— it has
th o ro u g h organization, experienced
m anagem ent, stro n g connections.
DIRECTORS s
J. C. SWIFT, P resid en t
SNELSON CHESNEY
S w ift & H enry Co.
V ice P resident
K an sas City
K an sas City
GEORGE E. RICKER, Treasurer
Smith & R ick er
C attle Loans
K an sas City
G. M. SMITH
BARTLETT ARKELL
P resid en t
P resid en t
Com m onwealth
Beechnut Packing? Co.
N ation al Bank
K an sas City
Canajoharle, N. Y.

Loans are offered at c u r r e n t
market rates, and bear endorsem e n t of t h e C o m p a n y .
Correspondence Invited

THE

NORTHWESTERN

November, 1917

BANKER

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Personal Paragraphs
;

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F.
J. H. Sutton, Trust Officer of the Guaranty Trustas captain in the corps of engineers of the army. He
Company, of New York, since December, 1909, was is the son of George M. Reynolds, president of the
elected a vice president of that institution on October Continental and Commercial National Bank.
11th. The Trust Department of the Company1 was
$ $. $
Frank A. Vanderlip, president of the National City
organized 1902, and Mr. Sutton became a junior as
sistant in the department at that time. He entered Bank, New York, largest institution of its kind in the
the Guaranty’s employ as a messenger in May, 1899, United States, has severed his business connections
to work for the United States government at $1 a
shortly after he was graduated from Princeton.
year. Mr. Vanderlip, directing head of the American
$ $ $
O. Howard Wolfe, of the Philadelphia National International Corporation and the International Mer
Bank, is the author of a convenient manual of 270 cantile Marine, many times a millionaire, is to be
pages on “Practical Banking,” just published. The chairman of the war saving certificates committee,
purpose of the book is to set forth in a clear and organized by the treasury department to conduct a
practical manner the internal operations of a bank. campaign for extensive saving throughout the war.
$ $ $
It explains the underlying principles of banking and
The New Revenue Law pamphlet issued by the
of the everyday transaction that are common to the
Bankers Trust Company, of New York, is particularly
various kinds of banks.
useful, as it contains not only the text of the Act as
$ $ $
The Comptroller of the Currency reports that the passed by Congress, but also the complete text of the
United States Government bonds deposited as se Income Tax law of 1916, as now amended with digests
curity for circulation by National Banks for the first and practical examples of the new law. Copies may
i eight months of 1917 amounted to $26,812,660. Bonds be had upon application.
withdrawn same period $26,310,070; net increase,
$ $ $'
The Mechanics & Metals National Bank, of New
$502,590.
York, in a booklet which they issued, states that the
$ $ $
The Live Stock Exchange National Bank, of Chi war is now costing the nations of the world $6,500,000
cago, released H. E. Herrick, assistant cashier about an hour and $160,000,000 a day. The United States is
a year ago, in order that he might accept the vice under a present expense running to fully a fourth of
presidency of the Wendell State Bank, subsequently the total amount, or forty million dollars. This is a
named the Reliance State Bank, at Ashland and Madi- rate of expenditure greater than that of any other na
fson streets. However, on account of the rapidly in tion involved, Great Britain coming second and Ger
creasing business of the big Live Stock Bank and his many third. A little less than a year ago it was cal
;thorough acquaintance with the business and custom culated by the bank making these estimates that the
e rs of that institution, Mr. Herrick has been recalled .world’s total daily war cost was $100,000,000; at the
fto his old post and will resume his former duties in beginning of the war in August, 1914, the cost was
l that connection. Mr. Herrick’s many friends will placed at $50,000,000.
!undoubtedly be pleased to learn of his return to a
$ $ $ •
H.
M. Byllesby, president of the H. M. Byllesby &
larger field of activities.
Company, Chicago, in a recent address, said: “The
$ $ $
jj: Earle H. Reynolds gave up his position as presi German government today stands as a ’champion'of
dent of the Peoples Trust and Savings Bank, Chicago, disregard of every sense of honor between nations.
ijfor the duration of the war, to accept a commission During her history of the past 170 years she has with,

A Commercial Bank in a Commercial Center

ATLANTIC
RESOURCES $20,000,000

N A T IO N A L BA N K
NEW

y U N D IV ID E D PR O FIT S

$1,800,000

YORK

OFFICERS
PHINEAS C. LOUNSBURY, Chairman
EDWARD K. CHERRILL, Vice President
GILBERT H. JOHNSON, Vice President
WILLIAM F. FITZSIMMONS, Assistant Cashier

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

C A PIT A L , SURPLUS

HERMAN D. KOUNTZE, President
KIMBALL C. ATWOOD, Vice President
FRANK E. ANDRUSS, Cashier
JOHN P. LAIRD, Assistant Cashier

November, 1917

THE

NORTHWESTERN

out justification violated four major treaties and de
serted her allies in the heat of warfare several times.
Since 1864 she has precipitated four vicious, unpro
voked wars of conquest against peaceable and unof
fending neighbors. She has consistently refused all
overtures for any plan of disarmament or a limitation
of the increasing of armaments. She wished to at
tack the United States in our Spanish war of 1898,
and would have done so except for the protection
England afforded us. She has covered the world with
her despised spy system. She has again reared in all
its tortures the old worn-out doctrine of “Divine Right
of Kings” and that “Might Makes Right.” Her in
trigues and trouble-making have set nation against
nation. She has developed an active working cruelty
which heretofore was unimaginable. She has been
plotting the present war for years. She intended be
ginning it in 1913, but for selfish, perhaps necessary
reasons, postponed it to 1914.”
$ $ $
J. F. Ebersole, cashier of the State Deposit Bank,
Minneapolis, is the author of a book entitled, “Bank
ing for Beginners.” The courses of study in bank
ing, adopted by the Minneapolis chapter of the Amer
ican Institute of Banking have been used as a basis
for this book. Clarence R. Chaney, president of the
Minneapolis chapter, said: “We feel that this new
book is a compliment to the Minneapolis chapter as
it recognizes the high standard of the educational
work in our chapter as compared to that of other
cities.”
$

BANKER

( The First National

| Bank oi Chicago \

1
!
I

v
p

i
v

p
I
|

G. W. McGarrah, president of the Mechanics and
Metals National Bank, of New York, at the annual
meeting of the clearing house organization, was elected
president to succeed Frank A. Vanderlip, of the Na
tional City Bank. Walter E. Frew, president of the I
Corn Exchange Bank, was made chairman of the
Clearing House Committee, succeeding Mr. McGarrah.
Theodore Hetzler, president of the Fifth Avenue
Bank, was elected secretary in place of Joseph Byrne.
William J. Gilpin and Clarence E. Bacon were re
elected manager and assistant manager respectively.
$ $ $
The Todd System of developing thrift is a new and B
sensible school savings system, originated by John
T. Todd. The plan has been approved by bankers,
educators and students of civil betterment. The new
Todd System, according to its author, “Has the dis-

1
I

welcomes and appre*
ciates the accounts of
banks and bankers.
.
Its extensive clientele,
developed during
more than fifty years
of consistent service,
is splendid endorsement of the agreeable
and satisfactory rela
tions maintained with
correspondents.

S
If

I
I
I

| Capital and Surplus $20,000,000 I
JAMESB.FORGAN, Chairman of the Board
F. O. WETMORE, President

The Bank of Direct Service
Over
1,000 Direct
Connections.
Try Us!

First National
iBankofOmaha
Capital and Surplus $1,500,000

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

The
Oldest
National Bank
in Nebraska

*TH E N O R T H W E S T E R N

CORN EXCHANG
NATIONAL BANK
OF CHICAGO
Capital . . . . . . $ 3,000,000
S u rp lu s.......................
5,000,000
Undivided Profits . .
2,000,000
Deposits . . . . .
106,000,000

BANKER

November, 1917

tinct merit of divorcing children’s money from the
schools themselves, and requiring the children to deal
with banks direct in opening and building up their
savings accounts. Each child, guided by the advice
and wishes of his parents, chooses the bank which he
intends patronizing; and, after opening his account
in such bank, thereafter makes additional deposits in
‘his’ bank, whenever his current savings amount to
one dollar or more.”
$ $ $
Henry Clews, Wall Street Financier, says that Lib
erty Bonds will sell above par in Berlin after the
war. “The German bankers know a good investment
and they will be glad to trade with us,” he says.

"Tv: b vp J-

$ $ $

Halsey, Stuart & Company, of Chicago, have issued
a very complete and interesting book on 1917 Federal
Income and War Tax Laws. This booklet contains
valuable information, for every banker, business man
and investor. •
Charles S. Hamlin, of the Federal Reserve Board
of Washington, gave a very patriotic and inspiring
address before the Nebraska Bankers Convention,
which met in Omaha recently. Mr. Hamlin reviewed
the, events leading up to the present-war and finished
with a verbal tirade, in which he told what he thought
of the Kaiser and his crowd.
$ $ $.
Dan Morris, who was president of the Nebraska
Bankers Association during the past year, in address
ing their recent convention, said: “When Nebraska
people have used all they can for themselves there
will still be $285,000,000 worth of corn, wheat, oats,
potatoes and other crops left to sell this fall. And
that estimate does not include the live stock. We find
financial and business conditions in the state most
excellent. The total deposits in the state and national
banks of Nebraska exceed $450,000,000.”
$ $ $
Snelson Chesney, vice president of the Guaranty
Cattle Loan Company, of Kansas City, and Leo. E.
¡Stevens, vice president of the Iowa Loan & Trust
Co., of Des Moines, both attended the Nebraska
Bankers Convention. These two handsome gentle
men look so much alike that they are frequently taken
for each other. They are both good mixers, have a
host of friends, and incidentally are making a big suc
cess of their institutions.
'

OFFICERS
ERNEST A. HAMILL, P resident
CHARLES L. HUTCHINSON, V ice P resident
D. A. MOULTON, Vice- P resid en t
OWEN T. REEVES, JR,, V ice Presid en t
J. EDW ARD MAASS, V ice P resid en t
FR A NK W . SMITH, Secretary
JAMES G. W AK EFIELD , Cashier
LEWIS E. GARY, A ssista n t Cashier
EDW ARD F. SCHOENECK, A ssista n t Cashier
NORMAN J, FORD, A ssista n t Cashier
JAMES A. W ALKER, A ssista n t C ashier
CHARLES NOVAK, A ssista n t Cashier
DIRECTORS
WATSON F . BLAIR
CHAUNCEY B. BORLAND
EDW ARD B. BUTLER
BENJAMIN CARPENTER
CLYDE M. CARR
ERNEST A. HAMILL
CHARLES H. HULBURD CHARLES L. HUTCHINSON
MARTIN A, RYERSON
J. HARRY SELZ
EDW ARD A. SHEDD
ROBERT J. THORNE
CHARLES H, WACKER

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Federal Reserve Bank of St. Louis

$ $ $

The Irving National Bank, of New York, furnished
canes for all the gentlemen and parasols for all the
ladies, who attended the American Bankers Conven
tion at Atlantic City. When the word was passed
around that the “Irving” was giving away canes it
was surprising to see how popular all the officers of
that institution immediately became. The question
we would like to know is, how many bankers took
the canes back to their own home town, to carry on
Main street after having become adepts in their use
on the board walk.
$ $ $
m
E. D. Huxford, president of the Cherokee State
Bank, Cherokee, Iowa, was honored at Atlantic City,
by being elected president of the State Bank Section,
He was vice president of this section last year and
was asked to respond to the address of welcome for
his section. What he had to say is a classic, and we

THE

November, 1917

NORTHWESTERN

now know that he is a real orator. If you don’t think
so, just read what he said in the following outburst:
“It would be indeed a pleasure for any man in these
United States to come to Atlantic City if for no other
purpose than to be welcomed by the judiciary of this
city, and by Judge White. On behalf of the State
Bank Section of the American Bankers Association,
their wives, sweethearts and friends, we thank you
sincerely for your hearty welcome and generous hos
pitality.
“Atlantic City seems to me to be an enchanted spot.
The first morning after my arrival, when I saw the
rising sunbeams with a virgin kiss caress these shores,
I made up my mind that I had found it—and after
wards, when I was lulled to sleep by the murmuring
melody of the rippling waves breaking upon these
sandy shores, my first impression seemed to be con
firmed—and now, sir, since I have heard Judge White,
I am satisfied that Atlantic City contains the fountain
of eternal youth. I am told that multitudes make
pilgrimages to this enchanted spot, and renew their
youth, by dumping all their accumulated cares and
worries and responsibilities into the Atlantic Ocean,
and I am told that this is the reason why they catch
so many weakfish in these surrounding waters. It is
said of Atlantic City that the women are only as old
as they look, and I have not seen a homely one here
yet; but that the men never grow old until they stop
looking, and I have not seen a blind man here yet.
“I know that after we have spent a few happy days
here, and returned to our homes, that we will have
to carry with us a memory that will linger through
the coming years, and create a desire in us to return
again. I thank you.”
Frank Warner, secretary of the Iowa Bankers As
sociation, is starting a campaign urging all the banks
in the state, which are not now members of the Asso
ciation to join at once. He is also following up all the
new banks and asking them to send in their applica
tion for membership just as soon as they have secured
a charter for their institution. On June 1, 1917, there
were only eighty-one banks which were not members
and since that time twelve banks have joined. At
this rate, it will not be long before Mr. Warner will
have an association with a 100% membership, which
will indeed be a record of which to be proud.

BANKER

An All-Sided Service
YAUR services to banks comprehend the
full range of modern trust company
activities.
You have at your disposal in this com
pany the facilities of various departments,
including our trust, foreign, safekeeping,
reorganization, statistical, and credit
organizations.
Each of these departments is a thor
oughly organized unit, yet all are available
to you within one institution. We invite
your inquiries as to how this service will
meet your requirements.
We pay interest on daily balances, the
rates varying with the character of the
account. We shall be glad to quote rates
upon request.

Guaranty Trust Company
of New York
140 Broadway
P A R I S O F F I C E FIFTH AVE. OFFICE LONDON OFFICE
Rue des Italiens, 1 & 3 Fifth Ave. and 43d St. 32 Lombard S t., E.C,

Capital and Surplus
Resources m ore than

The

$50,000,000
$600,000,000

b/ l

Collection Bank
of Chicago

$ $ $

The National Bank of Commerce, New York, dur
ing the Liberty Bond campaign, had a big sign painted
across its building, which said, “Be the man, behind
the man, behind the gun—Buy a Liberty Bond.”
$ $ $

F. C. Waples, secretary! of the American Mortgage
& Securities Company, of Manchester, Iowa, is presi
dent of the new bank organized at Castana, Iowa, and
known as the Farmers Trust & Savings Bank. The
bank will have a capital of $20,000 and will commence
business January 1st.
$ $ $
W. H. Taft was.in Des Moines recently to deliver
an address. During his stay in the city, E. T. Mere
dith called a special conference of bankers and busi
ness men to complete the organization of the Iowa
chapter of the League to Enforce Peace after the war.
H. L. Tinley was appointed chairman of resolutions
committee. Other bankers who assisted him and were
in attendance at the conference were: Parley Shel-

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

We have a special proposition for any
bank or corporation handling bill of lading
drafts on Chicago and Eastern points.

UNION TRUST COMPANY
CHICAGO
Strictly a Commercial Bank
Member of the Federal Reserve System
Established i 86q

THE

NORTHWESTERN

I Van Horn, Cluett &Gompany J
5

A Co-partnership, the Members of which are

CERTIFIED PUBLIC ACCOUNTANTS

Audits—Investigations-Systems

CHICAGO
I

OMAHA

1st National Bank Bldg.

Brandéis Bldg.

DES MOINES

S. & L. Building

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Has Your Bank Attractive and Substantial

FURNITURE?

BANKER

don, E. L. Johnson, M. B. Hutchinson, John Cavanagh, James R. Hanna, Senator B. B. Winfield, and
Frank Warner.
$

DESK, TABLE, CHAIRS, ETC.?

S en d fo r c a ta lo g u e — te llin g u s w h a t is w a n te d .

H. EHRLICH & SONS MFG. CO.
ST. JOSEPH, MO.

The American Trade Acceptance Council held its
first meeting recently at New York. This organiza
tion was an outgrowth of the meeting of the United
States Chamber of Commerce, which held its con
vention at Atlantic City. The council was organ
ized to assist in handling the war business of the Uni
ted States and it will represent the American Bankers
Association, the National Credit Men’s Association,
and the United States Chamber of Commerce. At the
meeting in New York Jerome Thralls was made sec
retary. The A. B. A. is urging the state associations
to appoint three banker members in each state to as
sist in the work of the council. The members ap
pointed from Iowa are Simon Casady, of Des Moines,
chairman; A. F. Dawson, of Davenport, and J. B.
Harsh, of Crestón.
$ $ $
Leo E. Stevens, vice president of the Iowa Loan
and Trust Company, recently celebrated his thirtieth
anniversary in the banking business. Mr. Stevens
started as a messenger boy in the First National Bank
at Ottumwa,- at the princely salary of $12 a month.
$ $ $
A. F. Balch, president of the Marshalltown State
Bank, Marshalltown, Iowa, attended the big conven
tion at Atlantic City. He came with his daughter who
is attending school in the East. After the convention
Mr. Balch returned home by the way of Montreal.
.

If not, why n ot let us figure w ith you for th at

BANK FIXTURES

November, 1917

Joe Chapman, vice president of the Northwestern
National Bank, Minneapolis, is being urged by many
of his banker friends to be a candidate for president
of the A. B. A. a year from now. Mr. Chapman had
this honor coming to him about the time of the Boston
convention, but withdrew actively from the race be
cause it was desired at that time that he give all of
his effort to the affairs of the Northwestern National.
$ $ $
Referring to Our New Army, here is a special dis
patch sent to us by one of our subscribers. Iky, have
you a son in the army? Yes. Did he get a commis
sion? No, just a straight salary.
$ $ $
Charles E. Walters & Company furnished a special
“live wire” luncheon to all of their friends who at
tended the Nebraska Bankers Convention. This was

Fort Dearborn National Bank
CH ICA G O , ILLINOIS
United States D epositary

C A PIT A L A N D SURPLUS $4,000,000

DEPO SITS $42,000,000

WM. A. TILDEN, P resident
NELSON N. LAMPERT, Vice-P res.
HENRY R. KENT, Vice -P res .
JOHN FLETCHER, Vice-P res .
GEORGE H. WILSON. Vic e -P r e s .
MARCUS JACOBOWSKY, Vice-Pbes.
E. C. TUBBS, C a s h ie r

WM. W. LE GROS, Ass’t Cashier
CHARLES L. BOYE, Ass ’t Cashier
W M. L. McKEE, Ass ’t C ashier
R. J. McKAY, Ass ’t Cashier
WM. E. Mo LALLEN, Ass’t Cashier
H. LAWTON, M gr. F oreign D e ft .

R£Ol*‘

We particularly desire the accounts of banks. Our officer in charge is personally acquainted with conditions in your section.
_______________
We know your wants and wish to serve you.

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

THE

November, 1917

NORTHWESTERN

BANKER

served in a special dining room at the Hotel Fontenelle.
$

William E. Cable, Jr., was recently appointed an
additional assistant cashier of the Hanover National
Bank, of New York. This action was taken by the
board of directors of the bank, in order to more ade
quately care for the constantly increasing business,
which this institution is handling. The capital of
the Hanover National Bank is $3,000,000 and the capi
tal and surplus $16,500,000.
$ $ $
Emil Webbies, cashier of the Muscatine State Bank,
Muscatine, Iowa, was honored recently by being
elected treasurer of the Associated Advertising Clubs
of Iowa, when they held their convention in that city.
The association is composed of all of the advertising
clubs of Iowa and has done a great deal of good con
structive work, to better advertising conditions in this
state.
$ $ $ ■

Geo. E. Allen, the father of the American Institute
of Banking, has written a very striking paragraph
which he calls the “American Eagle.” It is as fol
lows : “The American Eagle is not an altogether lov
able bird. It is no nightingale—it sings no sweet
songs of sentiment. It is no peacock; it never struts
nor spreads its tail. It is no dove, although it stands
for peace wherever peace is possible. But the Amer
ican Eagle can fly higher, fly straighter, fly stronger,
and fly1longer than any other bird in the world! And
when its cold and calculating eyes look through the
souls of men and the diplomacy of nations, when its
fierce beak and ugly claws become set in righteous
determination, and when it begins to flap its majestic
wings, then let all buzzards, wolves and reptiles BE
WARE—for the American Eagle means business.”
$ $ $
P. W. Hall, special representative of the Mechanics
& Metals National Bank, of New York, has been ap
pointed auditor of the war fund in Iowa of the Amer
ican Red Cross Finance Committee. Mr.^ Hall will
devote a part of his time and the use of his office in
Des Moines during the next few weeks to this work.
He has secured, however, extra clerks to assist him
in order that his work with the bank will not in any
way be neglected. In the big June drive of this year
over $1,500,000 was subscribed in Iowa for the Red

SECURED NOTES
We can offer at 6 per cent discount six months
loans of manufacturers and installment concerns,
long established and well rated in Dun and Bradstreet. Each loan is secured by customers’ notes at
a margin of 50 per cent or more taken from retail
customers for merchandise sold and delivered. The
borrower remits collections made semi-monthly, with
out rebate of interest. Usually 40 per cent or more
of each loan is repaid prior to maturity, thus giving
the lender an average deposit of about 20 per cent.

WM. A. LAMSON & CO.
Established 1904
60 W all Street

Com m ercial Paper
N e w Y ork

Leavitt & Johnson National Bank
Established W aterloo, Iow a —

Capital, Surplus and Profits $300,000.00

D eposits $2,500,000.00

The oldest bank in Blackhawk county solicits your business. Behind this bank lie
sixty-one years of sound, progressive banking and the benefit of this experience is open
to all banks.
Interest paid on balances.

Write for terms.

?
*

O F FIC E R S

T. E. SEDGWICK, President
C E. PICKETT, Vice President
C L KINGSLEY, Vice President

J. O. TRUMBAUER, Vice President
IRA RODAMAR, Cashier
FRED H. WRAY, Assistant Cashier

Îi
f

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

THE

1857

NORTHWESTERN

1917
An d

„ Trust
Company
Statement of Condition at Commencement of Business, Sept. 12,1917
RESOURCES.

L oans a n d D is c o u n ts .........................................$ 57,953,826.07
C u sto m e rs’ L ia b ility u n d e r L e tte rs of
C re d it ........
3,983,854.26
U n ite d S ta te s B o n d s .................
1,175,800.00
O th e r B onds a n d M o rtg a g e s ......................... 10,878,013.96
S to c k in F e d e ra l R e se rv e B a n k
330,000.00
C ash a n d D ue fro m F e d
e ra l R e se rv e B a n k . . . . . $11,242,024.32
D ue fro m O th e r >B a n k s
a n d B a n k e rs ................... 16,450,899.72
C hecks fo r C le a rin g H o u se 2,024,323.32
29,717,247.36
$104,038,741.65
L IA B IL IT IE S .
C a p ita l ........... ; . . . . . . ........................................ $ 3,000,000.00
S u rp lu s .................................................................
8 , 000 , 000.00
U ndivided P ro fits ........... ..................................
910,787.88
R e se rv e d fo r A ccrued I n te r e s t a n d T ax es
317,740.24
L ia b ility u n d e r L e tte rs of C re d it...........
3,983,854.26
D ep o sits ............... .......................................... ..
87,826,359.27
$104,038,741.65
ORSON SM ITH ..................................C h a irm a n of th e B o a rd
EDMUND D. H U L B E R T ...........:................................P re s id e n t
FR A N K • G. NELSON........................................V ice P re s id e n t
JO H N E. BLUNT, J R ............... - —-...........V ice P re s id e n t
C. E. E S T E S .....................| ...................................Vice P re s id e n t
F. W. THOM PSON......................................
..Vice P re s id e n t
H. G. P. D EA N S.................................................V ice P re s id e n t
P. C. P E T E R S O N .........................;.................................. .C ash ie r
JO HN J. G E D D E S..........................................................A s s is ta n t C a sh ier
F. E. LOOMIS.................................................................. A s s is ta n t C a sh ier
LEON L. L O E H R .....................S e c re ta ry a n d T r u s t Officer
A. LEO N A RD JO HNSON.....................A s s is ta n t S e c re ta ry
G. F . H A R D IE .........................M a n a g e r B ond D e p a rtm e n t
CHICAGO

BANKER

November, 1917

Cross War Fund. Most of this money has been de
posited with local banks and Mr. Hall’s work is to
see that this money is properly forwarded to W. G.
McAdoo, treasurer, for use in the Red Cross work.
The National City Bank, of Chicago, placed a huge
thermometer on their building at the southeast cor
ner of Dearborn and Monroe streets. This ther
mometer registered subscriptions to the second Lib
erty Loan, for Chicago. Long before the close of
the campaign the indicator went “over the top.”
E. D. HUXFORD ELECTED PRESIDENT.
At the American Bankers Association Convention
held recently at Atlantic City, New Jersey, E. D. Huxford, the live wire president of the Cherokee State

M u s c a t in e
State Bank
MUSCATINE, IOWA

C apital
D ep o sits

$250,000
$2,400,000

Y ou w ill like the personal service w e give on all c o l
lection s sent to us. W e do n ot solicit your business—
w e trade y o u our service for it.
OFFICERS

P. M. MUSSER, President
E. L. McCOLM, Vice President
E. C. STOCKER, Vice President*
EMIL WEBBLES, Cashier
W. J. FAYLE, Asst. Cashier
W. A. BLAKENEY, Asst. Cashier

ESTA BLISH ED
As a Private Bank, 1870. As a State Bank, 1896
47 Years of Continuous Service.

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

E. D. HUXFORD
President Cherokee State Bank, Cherokee,
Iowa, and President State Bank
Section A. B. A.

Bank, of Cherokee, Iowa, was elected president of
the State Bank Section of the'A. B. A.
Mr. Huxford, who was born in Michigan, received
his education at Northwestern University, and after
serving a short apprenticeship in banking in Chicago,
organized the Cherokee State Bank in 1888. In 1900
he became president of the Iowa Bankers Association
and ever since his highest ambition has been to see
how well he could manage a small country bank, with
the result that under his care the institution he organ
ized has never failed to earn and pay regular annual
dividends.
Incidentally Mr. Huxford is interested in better
farming, short courses, better roads, and community
uplifting. On the side he says he is “a bum golfer
but a good loser.”

November, 1917

THE

NORTHWESTERN

BANKER
/

Do You
Know
how y o u r incom e a n d p ro p e rty a re
to be ta x e d u n d e r th e n ew F e d e ra l
W a r R e v en u e B ill? T h e M e tro p o l
ita n T r u s t C om pany h a s p u b lish e d
a h a n d so m e p o c k e t e d itio n of th e
co m p lete W a r R e v en u e B ill. I t is
p rin te d on th in In d ia p a p e r a n d
c a re fu lly indexed, so t h a t th o se
c la u se s w h ic h a ffe c t you c an e a sily
be found. W e s h a ll be g la d to se n d
you a copy u p o n re q u e st. W rite to
D ept. L fo r th is W a r T ax B ooklet.

MADE TO ORDER

The Spirit of Service
is the predominant keynote of our
business.
We tailor clothes to your individ
ual requirements.
They are stylish.
They are made to fit.
We guard your interests and suit
your personality.
We are anxious to convince you of
our superiority in Tailoring Service.

Metropolitan Trust Company

N IC O IX The T a ilo r

of the City of New York

• WB Jerreins’ Sons •

60 W all Street

24 Years at 502 W alnut
DES MOINES, IO W A

YOUR COMMUNITY SHOULD PRODUCE

M ORE LIVE STO CK
A Patriotic Duty— and a matter
of good business.

The Live Stock Exchange National Bank
of Chicago

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

BANKER

November, 1917

Legal O pinions and D ecision s
This department contains each month excerpts from the
Making Wills and Giving
selves, b a n k e r s , even
latest decisions on banking and commercial law carefully
Advice.
though you may deceive
selected from recent decisions of the supreme courts of
One of the most hazard
Iowa, Nebraska, Minnesota, North and South Dakota, and
the public as to your
ous practices of bankers
from other states when the decisions are of interest to
knowledge of law. And
our subscribers. Questions of interest to bankers will be
is that of drawing the
do not undertake espe
discussed and A N Y S U B S C R IB E R has the privilege of
wills of customers. This
cially the drawing of wills
writing for information and advice on any legal subject.
is frequently done to save
He will receive an immediate reply from our attorney
without securing compe
the customer the expense
without any fee or expense. A complete trial brief of any
tent legal advice. For in
subject involving exhaustive research in a complete Law
of consulting an attorney,
stance, many people are
Library will be furnished at any time for $10.00. In writ
and usually the bank or
under the impression that
ing for information, kindly enclose a 2-cent stamp for
its cashier is named the
if they write a letter and
reply and address “Legal Department,” care The North
executor of the will.
western Banker, Des Moines.
place it with a will that
This fact alone might
they can alter the proviindicate undue influence
. .
siions of the will thereby.
having been brought upon the testator, although such But this is not so. A change in a will in order to be
was not likely to be the case.
legal must be witnessed in just as formal a manner
Bankers should realize that drawing a will is one as the will itself.
of the most technical of legal procedures. A great
Too much attention cannot be given to the formali
many men, and particularly bank cashiers, seem to ties attending the signing of a will, and its acknowledg
think that because they have a little knowledge of ment before witnesses. The testator must declare the
business law, or perhaps have served as county clerk instrument witnessed to be his last will and the wit
or in some similar capacity, that they are capable to nesses must sign it in his presence, and should sign
draw, correct legal wills. In assuming this they are it in the presence of each other. It should also be
flattering themselves at the risk of considerable injury understood that where property is to be put in trust,
to their customers. Drawing a will so that it will hold, that the limitation of the power of appointment is for
is not an easy matter for an experienced attorney, par a life or lives in being and twenty-one years thereafter.
ticularly if there are trusts to be established by the
When a will is simple, a banker, not an attorney may
terms of the will. It requires careful and expert be able to draw one without bungling it, or making an
knowledge of law, to so draw a will that its various error. But remember if he does make an error and it
clauses will not conflict with each other or with the is not discovered until the will is probated, that it is
law of the state.
incurable, and that it will lose friends and customers
The common custom of bankers to advice their cus for the bank.
tomers legally and to draw wills, and other documents
There are many questions constantly arising with
has caused more trouble, created more lawsuits, and reference to wills. Can a man leave all his property
lost the banks more business than any other one thing to a church or lodge? Can he leave it to his wife on :
in the practice of banking. When, by reason of a mis the condition that she remains unmarried? Can he
take, or error in advising or drawing up a document, leave it to one of his children on the condition that
a person loses a considerable sum of money he is not the child does not marry a certain party? How many
apt to feel kindly toward the banker, whose advice or witnesses does the law of the state require? These
legal knowledge was the fault. As a matter of fact are samples of some of the questions that arise fre
lawyers are perfectly willing to let the bankers draw quently in connection with wills. Why is it that a
the wills of the community, and give legal advice banker, who has had no legal education, even though
thereto, even though they lose a temporary fee thereby, he is a good business man, will think he is capable
because in the long run the bankers’ mistakes bring to draw wills for himself and for his customers, when
the lawyers more business and the bank has to suffer. it is hard to find a lawyer sufficiently scholarly and ac
It is common especially in small country towns to curate enough to be entrusted with so delicate a task.
hear it said that such and such a banker or cashier
Consideration.
know as much law as a lawyer. Do not deceive your
Elias owed Scott $500.00, which Scott has been try-

YOUR EVERY NEED
can be supplied by us w ith o u t delay
and at the right prices. W e have
the
m ost com plete sto ck in the State,
W e invite
you to make o u r store y o u r
headquarters w hen in th e city. Bank
and Com m er
cial Stationery, Fixtures and
F urniture in w ood o r steel; in fact, ev ery th in g y o u
need. W e solicit y o u r inquiries.

McNAMARA-KENWORTHY CO., »•» m»,nes. ,»w»

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

November, 1917

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

THE

NORTHWESTERN

BANKER

THE

•

N O R T H W E S T ERN

FRA/1C1/ A/5URY RQBIA/Ofl
LA/1 v j c a h ^ 1 "m c h i t l c t
Ô0 5 HUBb&L £>LDq • JÆ/MOI/IL/ ¡A

■dißCW-NUVATE-£/7 ATI f- FARM/THAD/-/C HOOL/
•m iT U T IO /t/-C m £T L |i^/-L A/1 D/Ub DIV1/ 10/ 1/
•FAIR/-ATHL£TlC-aiìai/1D/-qOLF-LI/lK/-A/si D ALL
•THL-DETA11/ - O F 7DW/Í A/1D-C1TY PLA/1/HAq

The Darwin Company
Designers o f Interiors
With the advent of Fall there are new
homes to furnish, and old rejuvenated.
With their extraordinary and diversified ex
hibits of new furniture—rugs—draperies and
wall hangings—THE DARWIN STUDIOS—
are attractions to make a visit profitably in
teresting.
We also have an organization skilled in the
decorating and furnishing of Banks.

C om plete Interior D ecorative Schem es
Furnished on R equest
Des Moines Club Building
Eighth and Locust Sts.
Des Moines

JAS. P. MARTIN. Vice-President
F. E. GILL, Vice-President

BANKER

November, 1917

ing to collect for two years. Finally Elias offered to
pay $450.00 in full. Scott replied that he was willing
to make the discount of $50.00, but at the particular
time needed the entire $500.00. He proposed that Elias
pay the whole $500.00 and that Scott would give him
in return a thirty-day note for $50.00. Elias agreed
to this proposition, paying the $500.00 and receiving
the note for $50.00. When the note was due Scott
refused to pay on the ground that there was no con
sideration.
The negotiable instruments law states that value is
any consideration sufficient to support a similar con
tract. The giving up of any right or the doing of any
act which a person is bound to do constitutes sufficient
consideration to support a contract. The promise of
payment of part of an obligation is no consideration
for promise to release the balance in this case. There
fore, there was no valuable consideration for the note
of $50.00, and Elias* cannot recover same.
Receiving Deposits.
The Farmers Bank agreed to loan one Talbot the
sum of $1,000 and took his note for that amount pay
able in ninety days, and gave him credit on open ac
count for $1,000. Before Talbot has drawn any check
against this account the bank was put in bankruptcy.
Does Talbot have to pay the account in full, when the
bank itself will not pay over fifty cents on the dollar
to depositors.
Answer—In this case there was a credit entered in
favor of Talbot by virtue of his note. Its assets de
pend on the depositor’s liability. Like all the other
assets it belongs to all the creditors equally. Talbot
cannot cancel it to settle his claim but must pay it
•to the trustees for the benefit of all the creditors
equally and receive his share of the asset when dis
tributed. See Volume 17, Wallace U. S. Reports, page
109.
HOW TO HOLD BUSINESS AFTER THE WAR.
(Continued from page 9.)
the line are good, but like American machinery—a lit
tle rough. Close attention is not given to detail and
finish. In normal times, even at lower prices, such
goods do not go as against the finer foreign outputs
We must improve our manufactures by intense applica
tion to this feature, and by employing foreign expert
workmen to teach our men. The salesman is not get
ting a square deal if his firm’s goods are inferior.
It is perfectly possible that we shall not have the

T. F. HARRINGTON, President

W. G DUNKLE, CashisT
R. NASH, Ass’t Cashier]

CONTINENTAL NATIONAL BANK
SIOUX CITY, IOW A

C apital $100,000.00

S u rp lu s $10,000.00

W e k n ow that our e x p erien ce, k n o w led g e, a b ility , sy stem ,
organization, m odern m eth ods and e n e rg y w o u ld w o rk great
ly to your b en efit if you g iv e u s the opportunity to se r v e you.
DIRECTORS
T. F. HARRINGTON
J. P. MULHALL
JAMES P. MARTIN

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Federal Reserve Bank of St. Louis

M. KASS
F. E. GILL
A. J. MORE

m . F. McD o w e l l
C. F. GREEN
W. G. DUNKLE

November, 1917

THE

NORTHWESTERN

BANKER

One New Bank
[Name on Request]

SECURED OVER
30% OF ITS DE
POSITO RS BE
C A U S E T HE Y
OFFERED THEM

Check being torn out of Pocket Check Book.

PROTECTU
CHECKS

Securing new accounts is always a problem with every bank and the use of Protectu Checks will help you secure many new customers and will be appreciated by
your present patrons.
Protectu Checks are not a novelty but a tried and tested check—a better check than
any now used because they give adequate protection.
Protectu Checks have been passed on by the best bankers and business men in the
country. Why not then encourage and help in the installation of this improvement in
bank service, rather than remain passive. :This is a progressive age, the prize goes to
the leader, why not have your bank get the credit of installing this improvement in
service in your city. Much of the advertising value is lost to the bank that comes in
later.

AMERICAN
LITHOGRAPHING
AND PRINTING
COMPANY

CHECK

PROTECTIO N

DES

W ITH OUT

MOINES,

PATENTED BY PROTECTU CHECK CO., DES MOINES— CAPITAL $150,000.00

■i

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Federal Reserve Bank of St. Louis

M ACH IN ES

I OWA

THE

NORTHWESTERN

THE upbuilding of a chain of
INmodern
hotel buildings and of an
organization which will make these
fine structures and their equipment
render service to the entire Middle
West in a most comprehensive man
ner, the North American Hotel Com
pany is undertaking a work, the im
portance of which is to be estimated
only by those familiar with the urgent
need in this section for this very sort
of thing.
Any business man who is interested
in the growth and expansion of the
Middle West in a business way will,
we feel, be interested in this company
and the big work it has undertaken.

BANKER

November, 1917

great depression following the close of the war which
is predicted by some. August, 1914, and the months
closely following the beginning of the war, were filled
with gloomy predictions of what would happen to the
United States. These predicted things really began to
happen until enormous munition buying and other ex
port buying took place. These had not been foreseen.
Nor had the vast scope of the war and its insatiable
consumption of funds, making necessary the shifting of
the financial center to this country. Instead of bring
ing disaster, the war brought prosperity.
The shock of plunging into an uncertainty such as
peace will bring, must have its effect. How long this
effect will last no ope can predict. But after that, it
is possible, that the same factor which made the pre
dictions of 1914 turn out untrue (the enormity of the
war), will change the expected result; in other words,
may not the vast destruction which has taken place,
accompanied by a drastic drain of materials, as re
habilitation is undertaken, call for supplies and manu-

Inquiries invited, address

North American Hotel Company
G e n e r a l O f fic e s
214 S o u th 17 S tr e e t
OMAHA, NEBRASK A

OFFICERS

D IR E C T O R S

G. E. MacKINNON
President

NELSON ROYAL

H. F. GROSS
Vice President

R R. McCUTCHEN

P Ä SASKS'SA
V
I8SS

H. F. GROSS

H. F. SCHOEN
Cashier

D. E. MOON
W. A. RUTLEDGE

N. B. SCOLES
Asst. Cashier

CHAS. A. RAWSON

L. J. O’.FLAHERTY
Asst. Cashier

JOHN H. GIBSON
R. J. CLEMENS

HARPER GORDON
Asst. Cashier

G. E. MacKINNON

ON THE BOARD WALK
Yes, everybody carried a cane on the Board Walk at
Atlantic City during the A. B. A. convention. From
left to right these three bankers are: Tom Watts, cash
ier Citizens Bank, Grand Junction, Iowa; J. J. Jamieson,
cashier First National Bank, Shullsburg, Wisconsin,
and L. L. Hobbs, assistant cashier Live Stock Exchange
National Bank, Chicago.

Individual Attention
To each account has been chiefly responsible for our
rapid growth.
Country bankers who would appreciate personal con
sideration of this kind are invited to write or call
and see us. Our complete organization and favor
able connections assure thoroughly satisfactory serv
ice.

Capital . . . $100,000.00
Surplus . . . $49,000.00
Deposits . . $1,000,000.00

The Mechanics Savings Bank
319 Fifth Street
DES MOINES

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Federal Reserve Bank of St. Louis

factures from the United States to such an extent as
to offset the loss of war demands.
In any event, the period of ebb tide, whether long or
short, and whether its effects will be serious or only
temporary, will call for the best that is in the busi
ness brains and the business forces of the United
States.
That will be the time when you men, without whom
supply cannot be connected up with demand; you who
play so important a part in the campaign of business
that when you fall back the whole battle line recedes
with you—that will be the time when you, sharing
heavily in the responsibilities of perhaps the most
crucial period in American business history, can I am
sure, be confidently depended upon, through your
energy, your studious application, your unyielding per
sistence, to carve the way to victory.

THE

November, 1917

NORTHWESTERN

BANKER

First Joint Stock Land Bank
CHICAGO

DES MOINES

CAPITAL $250,000.00
O. F. SCHEE, Vice President

GUY HUSTON, President
In charge of Illinois Loans

In charge of Iowa Loans

Continental Commercial Bank Bldg.
CHICAGO

Valley National Bank Building
DES MOINES

Organized and Doing Business Under the Federal Farm Loan Act

The amortization plan will be
used exclusively—other than that
it is but a matter of a simple,
long-term farm mortgage on very
liberal terms. There is no more
bother—or red tape—in making
these loans than there is in ob
taining a loan from any careful in
vestor. The borrower is not ty
ing up himself or his farm for that
length of time, he is given the op
tion of payment of any or all of
the principal on any interest date
after five years.

We expect to handle your farm
loans so promptly and satisfac
torily that we will soon become a
large factor in the farm loan field
of the corn belt. We want every
banker to become familiar with
our methods, knowing that rela
tions, once established, will be of
mutual benefit and profit.
Our loans never fall due all at
once. A payment of interest and
$10 per thousand annually on
principal liquidates the loan.
Iowa Offices
Second Floor, Valley National Bank Bldg.
Des Moines

Correspondence looking to the negotiating of such loans is invited by this bank. Its officers and direct
ors—some of whom own and operate large farms in the corn belt-—are men experienced in country
banking and farm loan business. They know your needs and the needs of the farmer and are able and
willing to supply them. Any banker knows the advantages to his bank in being able to take the credit
of financing his community. Every time a customer has to go elsewhere for a loan the banker loses
a chance to strengthen the standing of his bank in the community.
OLD PLAN
Interest on $10,000 at 5% per cent for 35 years.
.................. ................................................$19,250.00
Principal still unpaid.................................»................. .................................................................. 10,000.00
T o ta l........................................................................................................................................ $29,250.00
OUR NEW PLAN
Sixty-eight payments of $325 and one payment of $324.20 ................................ ...........................$22,424.20
You save........................................................................ ................................................................. $ 6,825.80
Bankers write us for our special proposition to represent us in your vicinity. It means real money to you.

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

BANKER

November, 1917

Education Through
Advertising
By Guy W. Cooke
Every progressive banker knows the value and power of
When the work of the
and the other in St. Louis,
advertising rightly applied. How bankers can carry on a
whole world is war, it
constitute year books on
campaign of advertising, which will be educational in char
would be futile to talk of
financial advertising equal
acter is the essence of this article by Guy W. Cooke, Adver
bank advertising did not
tising Manager of the First National Bank, of Chicago, and
to any textbook on the
finance play so impor
president of the Financial Advertisers’ Association. Bank
subject.
The exhibit of
ing service and banking methods should be advertised to
tant a part in the destiny
advertising at the St. Louis
the people of the country is the opinion of Mr. Cooke, if the
of nations, and publicity
meeting was so generally
public is to be properly educated as to financial affairs, and
so important a part in
the banks are to secure the greatest amount of business.
approved that it was placed
finance. ‘ I therefore ap
on display at the A. B. A.
preciate this opportunity to appear as an advertisement convention at Atlantic City last month. A monthly
for advertising and to present briefly the aims of the bulletin of live, up-to-the-minute advertising ideas is
Financial Advertisers’ Association.
published and at intervals a portfolio of the best copy
Two years ago our organization was only an ideal, booklets and other specimens is mailed each member.
a hope. Today it is a section of the Associated Ad Constructive criticism of members’ plans and copy is
vertising Clubs of the World, with a comparatively made when requested.
small but truly national membership, increasing rap
Through the vigilance committee of the Associated
idly as the scope and the aims
Advertising Clubs three big
of the association become bet
motor stock promotions have
ter known.
been barred from the mails;
“The man who can successfully manage a
Its standards of practice
the officials of two are under
bank is fully competent to place it in its true
are:
relation to the public. The prime requisite is
indictment. Action has been
that publicity be considered seriously, that it be
1. To encourage clean and
instituted against a number
given the same study, time and care that other
efficient advertising.
of oil and rubber stock pro
major functions of the business receive. Abil
2. To discourage the pub
motions, and the promoters
ity must be transformed by determination into
lication by newspapers and
achievement. The great searchlight of pub
of at least one mining stock,
licity is the banker’s present profit and future
periodicals of financial adver
whose prospect existed only
protection. The time is ripe, the stage is set,
tising that does not measure
on paper, are governmental
the picture is upon the screen, valuing reputa
up to the highest standards.
guests for an indeterminate
tion above all things the last flash is the im
3. To develop a m o n g
mortal words of Hamlet: ‘Report me and my
period. These leeches on the
cause aright to the unsatisfied.’ ”
financial institutions mutual
body financial extract a
points of contact which will
known toll of more than fifty
tend to improve their adver
million dollars annually, and
tising, so that this betterment will become permanent probably as much more that is never recorded. Nearly
and nation-wide.
all of the metropolitan newspapers, recognizing their
4. To encourage by advertising the investment responsibility to readers, have put a censorship upon
through reputable financial institutions of the surplus advertising columns that is making the road of the
moneys of the American people.
get-rich-quick gentry exceedingly rough.
5. To discourage unreliable and unsafe investments.
Magazines of national circulation are even more
6. To make financial institutions realize the value strict and both classes of publications in many instances
of advertising and by co-operation determine the most expose the impostor in news and editorial columns, in
effective means of building business through advertis addition to printing critical analyses of standard se
ing m the various departments of a modern financial curities and those of legitimate though speculative
institution.
nature. Let me take a moment to emphasize the value
Some good constructive work has been done. The of this work. The man fleeced by get-rich-quick
proceedings of two conventions, one in Philadelphia, schemers is not only lost as an investor in legitimate

SECURITY NATIONAL BANK
S IO U X C IT Y , I O W A

Capital and Surplus $500,000
T. A . BLACK, V ic e - P r e s id e n t
C. W . BRITTON, C a s h ie r

W . P . MANLEY, P r e s id e n t

C. G. CUMMINS, A s s ’t C a s h ie r
L. R . MANLEY, A s s ’t C a s h ie r

The Best of Service in Handling Collections and Accounts of Banks
•

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Federal Reserve Bank of St. Louis

F o u n d e d 1884

THE

November, 1917

securities, but frequently judges all in
vestments by his unhappy experience,
ruling against banks and bankers as
plutocratic despoilers of the poor. Is
it not high time the banker answers
that eternal question: “Am I my
brother’s keeper?”
Both ethics and precedent require
that in any talk on bank advertising
reference be made to the change in the
attitude of bankers and the improve
ment in their publictiy. I have always
followed the formula.
The advent of advertising as a busi
ness force is comparatively recent and
men of finance, by vocation and train
ing conservative to a degree, were
among the last to recognize this force
as applicable to their business. With
in the memory of bankers still active
any direct invitation to do business
was looked upon with a feeling almost
akin to horror. New business came,
if at all, hat in hand. Proffered ac
counts wree accepted as a favor to
the depositor. That the relation was
one of mutual interest and advantage
seemed lost in the impressive dignity
with which the banker surrounded
himself.
Whether the change came from
within or whether the marvelous
growth of the country and the devel
opment of business generally superin
duced, it matters little. New men, new
brain, new competition created new
conditions.
Banks began to advertise. A card
was inserted in the newspapers. It pre
sented the name of the bank, its capital,
surplus and a list of officers; perhaps
the line, “a general banking business
transacted.” There is little need to
enlarge upon this style; it is still too
frequent. Impressive only by size and
reiteration, it creates about as much
action or desire for further informa
tion, as an epitaph.
In the exception lies the proof. Most
(Continued on page 60.)

L n n h
¿•Tmsj
LÍI&

C lt

NORTHWESTERN

She joined
our

BANKER

862

CHRISTMAS
BANKING

CLUB

Xmas

she will
have

O ur C h ristm a s B a n k in g C lub is fo r e v e ry o n e ; g ir ls a n d w om en, m en
a n d boys, th e c h ild re n a n d th e baby.
You can s t a r t w ith 10 c en ts, 5 c en ts, 2 c en ts, or 1 c e n t a n d in c re a s e
y o u r d e p o sit 'th e sam e a m o u n t e ac h w eek.
In 50 w e ek s:
10
5
2
1

club p a y s .........................................................$127.50
club p a y s ........ ...............................................
63.75
club p a y s ...................................................
25.50
12.75
club p a y s ................................................

cent
cen t
cen t
cen t

You c an b e g in w ith th e la r g e s t p a y m e n t first a n d d e c re a s e y o u r p a y
m en ts e ac h w eek.
W e also h a v e clu b s w h e re you p a y in 50 c en ts, $1.00 o r $5.00 w e e k ly
a n d in 50 w e e k s h a v e $25.00, $50.00 or $250.00.
J o in y o u rs e lf a n d h av e e v e ry m em b er of y o u r fa m ily do so. too.
W e a d d ...................................p e r c e n t in te r e s t .............................................................

________________ BANK’S NAME HERE________________
Our CHRISTMAS BANKING CLUB is a tremendous success. A simple and
practical plan to get a large number of depositors. Operates Pass Book and
Card Index System. Easy to install. Easy to run.
Be Sure and Investigate Our Plan.

THE OUTCAULT ADVERTISING CO.
1135 C axton Building

C hicago, 111.

(Please mention this paper when writing)

As a D istributing C enter Chicago Is in a C lass by Itself

IT E M S handled through our T ran sit D e p artm en t are sent
I dij-ect;—or through b u t one interm ediary. T his d ep artm en t
is under the direct supervison of one of our Vice Presidents, an d we
invite your inquiry regard.
,
0
,

ing collection facilities [ h e N ational City Bank
OF CHICAGO
DAVID R . FORGAN, P r e sid e n t

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

BANKER

November, 1917

Insurance is Future Preparedness
By T. Williams
More bankers are today directly or indirectly assisting in
There is at least one kind
Those who avail them
selling of insurance than ever before, because they
of preparedness to which no the
selves
of the life insurance
realize that it means real protection for the man who may
rational person can object. be
scheme do so to meet a va
extended considerable credit today. In this interesting
This is disclosed in the article a general survey of the vast amount of insurance riety of conditions. The
great development of life business being carried on in this country is portrayed in a young man, not yet well to
insurance, which has come striking manner.
do, who wishes to provide
to be so important a feature
for his wife and possibly
of our American social system. Millions of men and children should he pass away, finds in a straight life
women in this country are carrying insurance on their policy that which his purse can afford. The man for
lives. Today over 9,000,000 regular, more than 31,-. whom saving is difficult discovers an incentive to thrift
000,000 industrial and nearly 5,000,000 fraternal poli in an endowment policy running from ten to twenty
cies are in force. Although in many instances individ years and at the end of its period yielding a lump sum.
uals may hold more than one policy, the figures indi He who has no one dependent on him, and who desires
cate that the number of per
to safeguard only his own fu
sons directly interested in life
ture,
may buy an annuity of
“Today over 9,000,000 regular, more than 31,insurance in the United States
$100
or
more and may repeat
000,000 industrial and nearly 5,000,000 fraternal
is more than double the com
this process from time to time
policies are in force. Although in many in
stances individuals may hold more than one
bined armies .of the warring
until he is assured of an in
policy, the figures indicate that the number of
nations of Europe. The
come
sufficient for his declin
persons directly interested in, life insurance in
amount of insurance in force
ing years. The annuity is not
the United States is more than double the com
is simply colossal. The legal
at present so highly esteemed
bined armies of the warring nations of Europe.
reserve companies have issued
The amount of insurance in force is simply
in America as it is abroad,
colossal.”
policies totaling $17,425,000,where it is very much in
000 of which $3,544,000,000 is
vogue, but it is gradually
endowment insurance; the
gaining favor in this part of
aggregate of industrial insurance is estimated at the world.
over $4,000,000,000, and fraternal insurance lifts
Then there is the kind of insurance called “commer
the grand total to $25,000,000,000. During the past cial life risks,” which signifies insuring one’s life for
fifty years companies reporting to the New York State the benefit of the firm or enterprise with which one
Insurance Department have received in premiums $11,- may be connected. The insurant may thus protect a
452,000,000, have paid to policyholders $7,103,000,000, business against some of the loss that his death might
and they have now on hand as reserves $4,011,000,000. cause it. Another species of insurance is “group in
Why do so many people insure their lives and why surance,” whereby a company, as a matter of welfare
is life insurance steadily growing more popular? It work, secures a blanket policy covering all its em
is because the public is becoming educated to a more ployes. Usually the amount payable at death is one
thorough appreciation of the value and need of such an year’s wages. Since the enactment of workmen’s com
institution. The beneficial nature of the scheme which pensation laws in many states employers are being
in consideration of a moderate yearly payment pro insured against liability for the injury or death of
vides after one’s death a fund—often sorely needed— workmen. Insurance against accident also is a notable
for one’s family or other dependents appeals to every phase of the business. Such insurance is comparative
one who can be induced to think on the subject. But ly cheap and hosts avail themselves of it. Certain
numerous as are the patrons of the insurance com companies provide policies combining health, life and
panies and rapidly as they are growing in numbers, the accident insurance.
insured still form but a small percentage of those who
Owing to competition and improved methods of con
should become insurants.
ducting business, the leading companies are providing
2

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N E W FARM MORTGAGE LIFE IN SU R A N C E

Guaranty Life Insurance Company
Davenport, Iowa
The District that is Feeding the World Today is Our Field.
Special Proposition for Bankers and Bank Employees.
L. J. D O U G H E R T Y , Secretary and General M anager
LANE BUILDING

DAVENPORT. IOW A

A postal card will bring all information about tbe above proposition.

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

THE

November, 1917

NORTHWESTERN

life insurance at very reasonable cost. In the old-line
companies the premium is calculated with great ac
curacy and no more is charged than is adequate to
fully protect the policyholder. The rate once fixed does
not change during the period of the policy. Two kinds
of policies may here be noted, one which participates in
dividends, while the other does not. The nonpartici
pating is the cheaper, but the participating often has
greater advantages. The cost of a policy at the stand
ard age of 35 years averages about $30 per $1,000 of
ordinary life and endowment insurance. It is advis
able to take out insurance at an early age, when the
premium is low, because eventually dividends may pay
the entire premium and yield a yearly surplus,
Besides the old-line level premium insurance com:
panies, there are the assessment organizations. The
former are the more reliable and attractive. The as
sessment plan has in most instances been based on a
wrong principle. Devised to furnish cheap insurance,
it starts out with very low premium rates, but as the
members grow, older the death list swells rapidly and
unless the assessments are increased, the company or
society is unable to meet its obligations. Usually the
increased assessments become exorbitant and the or
ganization is threatened with collapse, because it is de
serted by many policyholders. The past is strewn with
the wrecks of assessment associations. Only when as
sessment rates are sufficiently high to amount virtually
to old-line rates and to provide an ample reserve do
such organizations survive.
One of the remarkable activities in which the mod
ern life insurance company engages is welfare work
among its policyholders. This includes the supplying
of literature on sanitation and hygiene, periodical med
ical examinations, medical attendance and nursing in
time of sickness.. It is to the interest of an insurance
company to have its policyholders healthful and long
lived, and the companies find this sort of care for their
patrons profitable to themselves. Nevertheless this
enlightened selfishness is of high advantage to the
community.
The insurance business has also a purely financial
aspect, which is beneficial to the community in general.
It not only safeguards the home, but it also furthers
the big enterprises of the country. The insurance
companies perform a function which in some respects
is akin to banking. Receiving as they do in the shape
of premiums the savings of vast numbers of people,
they accumulate funds which in the total are exceed
ingly large. Like the banks they accumulate money
which must be put to use, and they are seeking safe
and profitble investment for it. They finance many

BANKER

Iow a’s L eading L iab ility Insurance Company

Iowa Mutual Liability
Insurance Company
CEDAR RA PIDS, IOW A
A u to m o b ile P u b lic L ia b ility (P e rs o n a l In ju rie s )
A uto m o b ile P ro p e rty D a m a g e L ia b ility a n d C ollision
W o rk m e n ’s C o m p en satio n L ia b ility
G eneral, P u b lic, T ea m s a n a E le v a to r L ia b ility In s u ra n c e
L ow est R ates

Service B est

Iow a’s Leading A utom obile Insurance Company

Iowa Automobile Mutual
Insurance Company
CEDAR RAPIDS, IOW A
A uto m o b ile F ire , L ig h tn in g , T h e ft, T o rn ad o a n d C ollision
In s u ra n c e
B ro a d e s t F u ll F lo a te r P o licie s
L o w e st R a te s, S erv ice B e st
A g e n ts w a n te d .

A d d re ss in q u irie s

C. J. DUPiCAPi, Vice P resid en t and General M anager
Insurance Bldg., 512 Second A ve. E a st
Cedar R apids, Iow a

Bo s t o n . M a s s a c h u s e t t s

Organized in 1862 under the laws of Massachusetts.
ASSETS
LIABILITIES
SURPLUS

$141,542,204.93
$133,487,937.96
$ 8,054,266.97

“THE POLICYHOLDERS’ COMPANY”
Live-wire service given all agency connections. For
information wire

H ENRY G. W ISCHM EYER, General A gent
701-3 Hippee Bldg.

Des Moines, Iowa

T h e Service A gency

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1

B E A P A T R O N OF YO U R LO C AL B A N K .
BU ILD YO U R D E P O SIT S B Y S A V IN G S.
- - - B E A D E P O SITO R - - -

TOE ROYAL UNION MUTUAL LIFE INSURANCE COMPANY
DES MOINES, IOWA

1
1
ü

I 'A RE from your bank deposit tbe small necessary amount annually to make life
insurance an important part of your estate.
Life insurance is tbe installment
method of acquiring enlarged estates.

’

i
i
1
1

PAYABLE IN CASH WHETHER YOU LIVE OR DIE
SIDNEY A . FOSTER, S e c r e t a r y

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Federal Reserve Bank of St. Louis

Good A gen cies Open

FRANK D. JACKSON, P r e s id e n t

THÉ

NORTHWESTERN

Capital $500,000.00
Full paid up and deposited w ith
Iow a In su r a n c e D epartm ent
We are entering other states
and open to propositions
from agents desiring connec
tion for Bonding and the
M iscellaneous C a su a lty
lines, particularly Automo
bile. Write

A. G. OGLE
2nd V ice P resid en t

WHY IOWA

BANKERS

find a connection with Western Life profitable and pleasant.

Because:
Satisfied Policyholders with Policies that are kept up
boost for the Company.
Fair and liberal treatment from Home Office,
intelligent and reliable field representatives.
Y o u Are In te r este d in K eep in g Iow a M oney in Iowa

Write today for “Special Bank Offer. ”
THE

IOWA
COMPANY
JAMES H. JAMISON. P re s id e n t

A. D. STRUTHERS, S e c re ta ry

BANKER

November, 1917

projects that tend to build up the nation. Among the
assets of the insurance companies are to be found rail
road stocks and bonds, school and municipal bonds,
mortgages on real estate, etc. On December 31, 1914,
the insurance companies carried in their assets $1,981,751,698 in bonds, $82,552,532 in stocks and $1,706,365,405 in real estate mortgages. These figures indicate
that the companies play a potential part in fostering
business and developing the country’s resources. The
vast reserves of the companies are in the nature of
a trust fund for the benefit of policyholders. This
fund is kept intact, is automatically increased as busi
ness increases, and is designed to meet all possible
claims. The law safeguards the’investment of the pol
icyholders’ money and the companies’ affairs are under
careful state supervision. Never were the large insur
ance companies of the United States more prosperous,
better managed or more worthy of the confidence of
the public.
L IF E IN S U R A N C E A N D W A R .

E. W. Hillweg, agency director of the Northwestern
National Life Insurance Company, of Minneapolis,
presents the following interesting ideas on life insur
ance and the war, in the company’s agency magazine:
“When our country called upon approximately ten
millions of the youth of the United States—young men
between the ages of twenty-one and thirty-one years—
to register for military and naval service, the serious
ness and dangers of war were most forcibly brought
to the attention of the entire population.
“Had all of the ten millions of youngs men who regis
tered been accepted for service, and had we known
that of that number eighty thousand would lose their
lives within a year, would we not have been terribly
shocked?
“The American Experience Tables of Mortality
show that the normal death rate for the ages stated is
eight per thousand—eighty thousand per ten millions
—every year, from so-called natural causes! And for
older ages the death rate is still higher.
“In time of peace as well as in time of war, death
exacts its toll, and an old-line policy is valuable prop
erty.
“All policies now issued by all life insurance com
panies contain war clauses; all policyholders whose
policies were issued prior to the declaration of war
by the United States should under no conditions allow
them to lapse, as such policies are more valuable to
their holders than ever before.
“The bills recently introduced in Congress, for con-

G re a t W e ste rn A c c id e n t In s u r a n c e C o m p a n y
DES MOINES, IOWA
Iow a’s L argest and Strongest H ealth and Accident Company
S ta t e m e n t D e c e m b e r 31, 1916
R ESO U R C ES.

.approved s e c u ritie s d e p o site d w ith In s u ra n c e
D e p a rtm e n t ..............................
$ 252, 711.50
C ash on d e p o sit a n d in o f f i c e . . . . ; ......................
58,614.41
I n te r e s t a c c ru e d ............................
7, 230.97
P re m iu m s in c o u rse o f c o lle c tio n .......................... 26,773.94
T o ta l a d m itte d a s s e ts . . . . . .

........... ...$345,330.82

L IA B IL IT IE S .

R e se rv e fo r r e i n s u r a n c e . . ...........................................$121,407.22
R e se rv e fo r lo sse s ........................................................ 26^32ll28
R eserv e fo r s u n d r i e s . . . . . . . . . . . . . . . . __. . . . . . . . . .
11,489 65
S u rp lu s to p o lic y h o ld ers, (including- c a p ita l
sto c k o f $100,000.00) . ............. . . . . . . . . ........... 186 112 67
T o ta l

NO CLAIMS DUE AND UNPAID
Write to the Home Office for a Bank Agency Proposition or Appointment as Collector for Your Community.

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

,$345,330.82

THE

November, 1917

NORTHWESTERN

sideration, recommend a rate of $8 per $1,000 of insur
ance for soldiers and sailors. The authors of these bills
do not claim nor expect that a rate of $8 per $1,000
would be adequate to meet the losses; the government
is asking for an appropriation of $556,000,000 to meet
the deficit, should the proposed measure be enacted.
The deficiency would be made up by taxation upon
all of the people, directly or indirectly.
“The government will say in substance to our sol
diers and sailors, ‘the life insurance companies cannot
possibly insure you at peace rates in time of war, nor
can they definitely ascertain a safe rate at which you
could be written, as the experience tables upon which
their rates are based do not cover a world’s war; but
if you will pay to the government a portion of the cost
of the risk assumed upon your entering the service, it
will collect the deficiency from the citizens of the
United States.’
“It is not the intention of our representatives in
Washington, who constitute the government, to have
our government engage in the life insurance business,
but as they realize the value and necessity of life in
surance, and especially for those engaged in war serv
ice, they are endeavoring to work out a plan whereby
the lives of all who are serving our country may be
insured at low cost to the insured, and of collecting
the deficiency from the people.
“How large this drain will be, no one can foretell,
but no standard life insurance company could at their
present rates assume any large number of war risks
without great danger of becoming insolvent.”

Funds for Farm
Loans
We buy farm mortgages from banks in
Iowa, Minnesota, North and South Dakota
towns of less than 2,000 population. For
full information as to rates, terms and
conditions address the Home Office.

Scandia Life Insurance
Company
36 North La Salle Street
CHICAGO

MERCHANTS LIFE TO MOVE OFFICES.
The Merchants Life Insurance Company, now lo1867

BANKER

1917

AGE

ST R E N G T H
S T A B IL IT Y

5 0 Years of Best Service
M ake

The Equitable Life

Insurance in Force $415,000,000.00

O F IO W A
Safe and Dependable for Bankers and Their Gastomers
H O M E O F F IC E

D E S M O I N E S , IO W A

BANKERS UFE COMPANY, DES MOINES, IOWA

Special Service to Bankers
Our Mr. H. E. Jackson, general agent for Iowa, located at the home office of the company,
Burlington, has had wonderful success in placing Life Insurance through local Bankers, and we
guarantee satisfactory service. He knows how to help your banking business, besides helping
you increase your personal income.
We have a full line of new Policy Contracts that are easily sold. GET IN TOUCH WITH
JACKSON.

Merchants Life Insurance Company
W m . A. W atts, President

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Federal Reserve Bank of St. Louis

BURLINGTON, IO W A

A ssets $2,500,000.00

T, H E N O R T H W E S T E R N

BANKER

November, 1917

cated at Burlington, has leased the thirteenth floor of
the new Register and Tribune building for home office
purposes, and expects soon to remove their head
quarter to Des Moines.
A few months ago, the Merchants Life Insurance
Company of Burlington, and the Preferred Life Insur
ance Company of Michigan were consolidated. The
combination resulted in a strong company and makes
larger quarters desirable. They have decided to re
move their headquarters to Des Moines as this city is
recognized as the insurance center and offers greater
advantages and facilities for the transaction of their
business. .
As soon as the new Register and Tribune building
can be completed, the Merchants Life Insurance Com
pany will be permanently situated in their new loca
tion. It is expected that this will be about December
1st. The Merchants Life Insurance Company has $60,000,000 of insurance in force and $3,000,000 assets.
The company has a paid-up capital stock of $400,000.
The coming of the Merchants Life to Des Moines
will add another strong insurance company to those
already located in this city.
IOWA STATE BANK ORGANIZED.
The Iowa State Bank has taken over the business
of the private Nichols Bank, of Atlantic, Iowa, which
has been in operation for over twenty-two years. F.
M. Nichols, who has been the active head, has had poor
health and desired to be relieved of the many details.
Claude F. Anderson will be cashier and have control
ling interest in the bank. He was cashier for fifteen
years and is still vice president of the State Savings

EXPERIENCE
FACILITIES
SERVICE
ELLIS AND HOLLAND CO.
DES MOINES, IOW A
G en era l A g e n ts

FOR ALL KINDS OF INSURANCE

Central Lite
Assurance Society
Des Moines, Iow a

Only the best agents can secure
contracts. Address
T. C. DENNY, Secretary
Des Moines

S ta te R e p r e s e n t a t iv e fo r

N orth w estern
Fire an d M arine
In su ran ce Co.
o f M in n e a p o lis

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Federal Reserve Bank of St. Louis

Our record has been to double
our volume every five
year period

“The D o u b lin g Com pany”

November, 1917

THE

NORTHWESTERN

Bank, of Pacific Junction, Iowa. Later he was Iowa
state bank examiner, and for the past two years, has
been assistant cashier of the Live Stock National
Bank, of Omaha.
The officers are: F. M. Nichols, president; Wm. M.
Nichols, vice president; Ira N. Cheney, vice president;
Claude F. Anderson, cashier, and O. R. Patrick, assist
ant cashier. Mr. Cheney is cashier of the Emerson
State Bank, of Emerson, Iowa, and Mr. Patrick has
been assistant cashier of the Glenwood State Bank
for the past three years.
C. A. HINSCH ELECTED PRESIDENT A. B. A.
At the annual meeting of the American Bankers
Convention, which convened recently at Atlantic City,
the following officers were elected: Charles Arthur
Hinsch, president of the Fifty-third National Bank,
Cincinnati, Ohio, president; Robert Foster Maddox,
president of the Atlanta National Bank, Atlanta, Ga.,
vice president. The Executive Council elected James
D. Hoge, president of the Union Savings and Trust
Company, of Seattle, Washington, treasurer and re
elected Fred E. Farnsworth, general secretary.
James B. Forgan, on behalf of the bankers of Chi
cago, invited the delegates to hold the next annual
convention in Chicago, and upon motion of R. S*
Hawes, of St. Louis, the convention voted to advise
the Executive Council that Chicago would suit them
for the 1918 convention.
About 3,000 were in attendance.
The new Gardiner, Iowa, bank opened up for busi
ness recently. J. R. Gardiner is president, Mfm. S.
Arthurs, vice president, and M. F. Parks, cashier.
T H E P O LIC IE S OF T H E

Des Moines
Life and Annuity
Company
DO MORE FOR T H E MAN WHO PA YS T H E
PREM IUM S

1. They pay him a Life Income in case of Total
Disability and in addition thereto pay the Full Face
of the Policy to his estate at his death.
2. They pay him an Annuity, or Annual Income
for Life, at age 65, when, according to the American
Bankers Association, out of 100 young men starting
at age 25, only 1 is rich, only 5 have any incomes,
only 5 men have any earning capacity, while 54 are
actually dependent, the other 35 having died.
3. They pay Double the Face of the Policy if the
death of the Insured is caused by Any Accident. In
July, 1917, 52 Iowa people were killed by automobile
accidents alone and 662 injured.
Over 125 Iowa Bankers are actively interested in
the Company.
An Agency Contract is Worth While.

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Federal Reserve Bank of St. Louis

BANKER

IOWA NATIONAL FIRE INS. CO.
312-313-314-315 HIPPEE BLDG.

DES MOINES, IOWA
JOHN L. BLEAKLY, President
F. L. M INER,
C. M. SPENCER,
V ice Pres.
Secretary
C. S. V A N C E ,
::
FRANK P. FLY N N ,
2nd V ice Pres.
Treasurer

Capital
Subscribed

Surplus
Subscribed

$500,000.00

POLICY HOLDERS
W ill Patronize an IOWA C om pany
G uaranteed by IOWA Capital
Managed by IOWA Men
IO W A BANK ERS R ecognize the A dvantage of P ro
tectin g IO W A C R E D IT w ith IO W A IN SU R A N C E
R e li a b le A g e n ts W a n te d in E v e r y C ity in I o w a .
W r ite to t h e C o m p a n y o r

H. P. ROSSER,
Supt. of Agents

The Character Company
FIRST in service to policyholders.
FIRST Iowa Company issuing policies providing
both Disability and Double Indemnity Benefits.
FIRST company in entire West giving free health
tests to all policyholders, regardless of where lo
cated or amount of insurance carried.
FIRST in amount regular business written for
same period.
FIRST in per cent of surplus, having more than
$700.00 in prime assets for each $100.00 in liabili
ties.
FIRST in service to bankers who co-operate. We
employ none but clean, high-class salesmen who
can close prospects. A contract with NATION
AL FIDELITY is a proven asset to bankers. If
you have no contract, write at once for our plan.

National Fidelity Liie Insurance Co.
of Iowa
Sioux City, U. S. A.
RALPH H. RICE, President

THE

NORTHWESTERN

BANKER

November, 1917

Securities, Bonds
and Mortgages
By Frank M. Huston
Each month Mr. Huston presents under this department
There is nothing that
home to each individual
a very timely synopsis of financial affairs as they relate
develops an individual or
citizen. Already we have
especially to bonds and mortgages and we are sure that
a country like adversity.
our readers will find much valuable information in the
reached the point where
Terrible as it may seem,
material here published. Mr. Huston is the financial editor
it is a badge of honor to
of The Chicago Herald and is well and favorably known
this war and the partici
be the owner of a United
throughout the country.
pation of the United
States Government war
States in it as a belligerent will not be without its bond and it causes a feeling of shame,, on the part
compensating value. It was the tremendous indem of those who can afford to own a Liberty Bond, to
nity exacted from France by Germany in the Franco- acknowledge that he is not the possessor of one.
Prussian war that stimulated thrift and made that
The development of thrift is an element of strength
France one of the greatest investment countries in the in any nation. The wide distribution of these United
world. Possibly France could have developed thrift States bonds among her citizens will prove to be not
without such a drastic development as the Franco- only a matter of pride in the years to come, but a
Prussian war and the indemnity which it called for, source of income and a sound investment. There are
but would she have developed this thrift, without the many people in this country who have not yet real
incentive which France’s national crisis furnished?
ized what this war really means; that it is a defensive
In the United States it was frequently remarked, and not an offensive war so far as this country is con
prior to the European war, and in the days of our cerned. It is a way to defend our rights.
neutrality, that we were not only becoming an.extrava
Secretary of the Treasury McAdoo recently in a
gant nation but so lavish with our money and credit speech pointed out that had we acquiesced in Ger
as to cause students of events to wonder where our many’s demands and refrained from selling our mer
extravagance would end. Then came the answer chandise, food products, and munitions, which we were
through this nation becoming involved in the war. entitled to do under international law and custom, to
The needs of our government now are so great as to belligerent countries our foreign trade would have
exact from every individual the duty of contributing been shot to pieces. Acquiescing in Germany’s de
from his accumulated and accumulating credit a por mand meant we would not be able to sell our farm
tion to meet the requirements of defending our na products to European belligerents. As it is the price
tional position. If this war lasts long the necessity we receive for our surplus that determines values not
of thrift and of more rational living will be brought only would this have entailed great suffering among

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Byllesby
A dvice to
Investors

Utility Securities
ASED on the daily necessi
ties o f industry, commerce
B
and public.

Purchase your securities through respon
sible dealers who have proper facilities
for investigations and a reputation to
maintain for reliable service.
K. N. & K. are always posted on general
market conditions, and their views are at
the disposal of investors through their
monthly review of

Yielding the investor much
better than ordinary returns.
Stability proven by severest
tests over a lon& period.
Backed by a comprehensive
organization o£ long, experience.

“The Investment Situation”
Write for Pamphlet L-i

A s k for Circular N B

Kttautli Nactiot) & K utm e
Members of blew York Stock Exchange

Equitable Building
N e w Y o rk C ity

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Federal Reserve Bank of St. Louis

H. M. Byllesby & Co.
INCORPORATED

1925-208 So. La Salle Street, Chicago
1234 Trinity Bldg., New York
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November, 1917

THE

NORTHWESTERN

the civilian population of the belligerent countries as
well as the armies, but it would have meant that the
farmers of this country would have produced more
than we could consume, and as a result, our market
prices would have been demoralized. Our manufac
turers would have slowed down and in a short time
this country would be in the throes of a business de
pression, the like of which has not been experienced
in many years. All of this because Germany and her
allies wished to revise the international code during
the progress of a war because it suited their own con
venience and end.
In order to maintain our international rights, to con
tinue, as a peaceful nation, to sell our surplus prod
ucts in the countries where they were needed, the Uni
ted States was forced to enter the war. This means
that the farmer element of this country as well as the
manufacturing element are directly interested in this
war. It is to protect both that the United States is
at present at war.
It is, therefore, obvious that it is the duty of the
farmer element, which has been prosperous, and which
has been favored more than any other class of citi
zens in the revenue laws providing for direct taxation,
and in the conscription act, to subscribe liberally for
United States war bonds out of their accumulations
resulting from present high prices and the prosperity
of the years gone by. Had it not been for the liberal
policies of our government the agricultural sections of
this country would not have been so prosperous as
they have been. In return for this and in order to be
able to maintain the position of this government among
the galaxy of nations it is essential that every one
subscribe to the limit of his ability to these war bonds.
At the same time it should be kept in mind that this
is an investment and not a gift to the government.
In this connection it is interesting to know that
this effort to develop thrift among the American people
is likely to result in strengthening our position after
the war. Frank A. Vanderlip, president of the Na
tional City Bank, of New York, and other bankers
who are devising means for raising war funds, are
urging that the new war saving certificate plan, which
enable citizens of small means to participate in these
loans, should be retained after the war. The wide
spread distribution of such certificates would place the
United States in a position similar to that of France
in the years following the Franco-Prussian war. _ In
other words, this would convert the United States into
an investment nation.
It should be kept in mind that the placing of this
$3,000,000,000 installment of United States war bonds
is not the last call that will be made upon the American
people bv the government through offerings of war
bonds. The requirements of the government total ap
proximately $21,000,000,000. Of this $7,000,000,000
will go to our allies in the shape of governmental
loans, indorsed by this country, and for this $7,000,000,000 this country gives to the investor its own
bonds, holding the foreign bonds in the United States
treasury. These bond issues, therefore, in the total
year will total $12,000,000,000. In the two issues al
ready offered and subscribed $5,000,000,000 has been
raised and possibly more. There remains, therefore,
fwo more $3,000,000,000 issues to be subscribed before
July 1st. In addition approximately $3,000,000,000 is
to be raised by direct taxation. This means that each
individual bank and each individual citizen must do his

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

BANKER

The N ew War Tax
Will Affect You
T

IRECTLY or indirectly every individual and corporation in the United States will be affected by the
new War Revenue Bill. Through the Income Tax, the
Excess Profits Tax, the Stamp Taxes or some of the other
provisions of the Law you will be asked to contribute your
share toward the large sums necessary for carrying the
war to a successful end.
j

Do you know how and to what extent you will be taxed?
The far reaching provisions of this law should be fully
understood by all individuals and corporations concerned.
The entire War Revenue Bill including the Income Tax
will be thoroughly analyzed and explained in our new
ninety-six page book which is now in course of prepa
ration and which will be available for free distribution soon
after the bill becomes a law.
A copy of this booklet clearly interpreting the law will be
supplied when off the press to those interested upon appli
cation.

HALSEY, STUART & CO.
I N C O R P O R A T E D “~ 8 U C C B S S O R S T O

N. W . H A L S E Y

CO., C H I C A G O

2 0 9 S O U T H LA S A L L E S T R E E T
N EW Y O R K

P H IL A D E P H 1 A

BO STO N

D E T R O IT

ST.

L O U IS

M IL W A U K E E

W e ow n and offer fo r investm ent w ith
o ur recom m endation the follow ing issues
of carefully selected M unicipal Bonds:
$164,500, 5%, Buena Vista County, Iowa, Funding
Bonds.
80.000,
52.000,
35.000,
25,500,
12.000,
10.000,

5%,
5%,
5%,
5%,
5%,
5%,

Clay County, Iowa, Funding Bonds.
Floyd County, Iowa, Funding Bonds.
Osceola County, Iowa, Funding Bonds.
Washington, Iowa, Funding Bonds.
Indianola, Iowa, Funding Bonds.
Waufeon, Iowa, Funding Bonds.

Special descriptive circular on request.

GEO. M. BECHTEL & CO.
BANKERS
Davenport, Iowa

Chicago, Illinois
Established 1891

THE

NORTHWESTERN

BANKER

November, 1917

full share in assisting in the transfer, of credit to the
government. Fortunately we have a scientific bank
ing system in the Federal Reserve that affords the
facilities and machinery to assist in this transfer of
credit without seriously disturbing the financial and
business situation.
While government financing is tremendously ..heavy"
and unnecessarily is a strain on the banking and credit
situation temporarily, this is due chiefly to the fact
that the usual volume of available funds is required
to care for the ordinary demands of business and
financing. Naturally, with the government’s require*ments confronting the country such other financing,
as is usually undertaken and is not imperative at the
moment, is compelled to wait in order that these in
vestment funds may be turned over to the treasury.
The strain, however, comes because of the very
general employment of available funds and the neces
sity for creating new funds through the use of indi
vidual credit. This mobilization requires time, and to
care for such an aggregate bond issue within a year,
and at the same time pay1 $2,500,000,000 in direct
taxes, besides the usual local taxes, necessitates

considerable readjustment and expansion of loans by
individuals and corporations at the banks. It is a form
of inflation, it is true, but it is a necessary inflation
just as the expansion of loans to take care of the enor
mous volume of business that came to us from the
war during the period of our neutrality was inflation.
None of the nations engaged in this war entered it
with such a strong financial position as did the United
States. Our bonded indebtedness at the beginning of
our participation in the war as a belligerent was the
smallest of any nation. At the same time our bank
ing position, national wealth and other elements un
derlying government credit was at the peak and was
much greater than that of any other country in the
world. On Aug. 1, 1914, when the European war
started, the approximate debt of the United States
was $1,000,000,000, and this was not increased until
we had entered the war as a belligerent. On Aug. 1,
last, our approximate bonded indebtedness was $3,000,000,000. Add to that the outstanding treasury certif
icates that would have been issued since or were not
converted into Liberty Bonds and we have the present
indebtedness. We have loaned to our allies about $3,000,000,000 to date, so that our national debt is re
markably small compared with that of other countries
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and compared with our national resources.
|
H . B . A L L F R E E | The approximate national wealth of this country is
Vice President First National Bank
E
1
N e w to n , Iow a
| $250,000,000,000 and the population 104,000,000, mak
ing-the per capita wealth $2,404. Our annual income
1
I o w a Farm L o a n s
| is estimated at $40,000,000,000 and our annual savings
=
Have loans on hand for sale in am ounts of $3,000 and up. Over &
at $6,000,000,000. So far our national debt, including
= Five Million Dollars active loans now in force. Twenty-one years S
the present pending bond issue of $3,000,000,000, is
§j in handling of Iowa Farm Loans and never a foreclosure.
§
WRITE US FOR LIST
|
well within our annual savings. It should be remem
bered, however, that of this indebtedness nearly one^aiiiiiiiiiiiicaiiiiHiiiiiicaiiiuiiiiiiicaiiiiiiiiiiiicaiiiiiiiiiiiicaiiiiiiiiiiiicaiiiiiiiiiiiicaiiiiiiiiiiiicaiiiiiiuiiiicaiiiiiiiiiiiicO
half of it represents money reloaned to European al
lies for which we have received governmental obliga
tions. So that that is an investment.
The yearly cost of the war to the United States is
estimated
at about 4 per cent of our total wealth. This
IN C O R P O R A T E D
is computed on the basis of the appropriations and
expected outlay of $21,000,000,000 for the fiscal year
ending June 30th next. This yearly cost of war amounts
to only 27 per cent of our estimated annual income.
IN V E ST M E N T
There is certainly no basis for any anxiety that the
B A N K IN G
national debt at the present time is a strain on gov
ernment credit. This could be increased nearly three
fold and still be within reasonable bounds, and it
could
be increased four-fold and not exceed the per
D es M o in e s, Io w a
centage of annual income which the year’s war cost
1 2 1 5 H ip p e e B ld g .
to England involves.
When it is stated that there is no better security on

Jesse F. Stevenson & Go.

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5% FARM LOANS WANTED 5%

W e have a large am ount of m oney to lend on Iow a farm s th is fall on advantageous term s 1
| and at low est rates. W e w a n t connections in Iow a, M innesota and S outh D akota, w ith a |
| v ie w to handling a steady volum e of good loans to o ur m u tu al advantage.
§
|
W rite us for term s and tell us w h a t y o u have.
|

Leavitt & Johnson Trust Company
WATERLOO, IOWA

CARLETON SIAS, Vice President
C. R. DAVIS, Vice President

E. L. JOHNSON, President

GEO. W. WILLIAMS, Secretary
W. C. LOGAN, Treasurer

Capital and Surplus - $400,000.00
O ldest Loan A gency in Iow a
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

November, 1917

THE

NORTHWESTERN

the face of the earth than a United States 4 per cent
war bond, those giving that assurance are not predict
ing it on patriotism and sentiment, but on actual facts.
It may be well, therefore, to compare these figures
with those of other countries. The national wealth
of the United Kingdom is estimated at $90,000,000,OCX);
that of Canada $7,500,000,000, India and other British
possessions $32,500,OCX),000, making' the total of the
British Empire $130,000,000,000.
PUBLIC UTILITIES OPERATIONS.
In a lecture in the course of Public Utilities Opera
tions, Graduate School of Business Administration,
Harvard University, William H. Hodge, manager
Pqblicity Department, H, M. Byllesby & Company,
of Chicago, in discussing The* Customer as a Financial
Partner in a Public Utility, said :
“The maintenance of good public relation is the
most difficult problem in the operation of public utili
ties by corporations.
“Efforts to induce the customer and particularly
the wage earner to become financial partners in public
utilities are being made primarily for the purpose of
securing and preserving good public relations.
“Only within the last three years have large, estab
lished corporations undertaken this work. Compara
tively few are prosecuting such a plan at present, but
many are closely watching the experiments in progress.
“The placing of the securities of service companies
among the people, incidentally, is a direct attempt to
meet the great cause of social unrest, namely, the un
equal distribution of wealth.
“A widespread movement of this kind will bring
the people and the corporations in closer harmony
and increase the welfare of both.
“The benefits to the utility company and the public
which assuredly will follow a wide distribution of a
company’s securities among its patrons, warrant the
effort and initial expense. The objects falling within
range included the most vital things in the relations
between the utilities and the people. Achievement
will go a long way towards solving controversial dif
ficulties which have marred these relations in the past.”
Articles of incorporation of the Climbing Hill Sav
ings Bank, Climbing Hill, Iowa, were filed recently.
The capital of the bank is $15,OCX). The officers are
William H. Steinhauer, president; O. E. Hanner, vice
president, and C. O. McClaran, cashier.

BANKER

IT ISN’T A
ONE-MAN JOB
When the second issue of Liberty Bonds
were to be sold, some one man was placed in
charge of the campaign in your community.:Did he undertake the job by himself? No;
he called other men of ability to his aid. He
wanted their assistance and he needed their
advice and suggestions. Thorough co-opera
tion was essential.
Just so do Bankers employ the services of
this organization to assist, advise, suggest and
co-operate in putting over the bank’s advertis
ing to the best advantage.
Just now—before you pass on to other sub
jects—write a few lines requesting full infor
mation about CRADDICK SERVICE and how
it will serve you. You owe yourself this in
formation before making advertising plans for
1918.
Enclose your last statement, please.

H. B. CRADDICK
Advertising Manager for 370 Banks
1003-6 First National-Soo Building
Minneapolis

SECURITY

STATE

¡?'

BANK

KEOKUK, IO W A
C a p ita l
S u r p lu s & U n d iv id e d P r o f it s

$100,000.00
30,000.00

Promptjand carefuljattention given to all business entrusted to u s
W . B. Seeley, President
E. A. French, Cashier s.

UNIVERSITY STATE BANK
D ES M OINES, IOW A

Capital
$50,000.00
Surplus & P rofits $25,000.00
O ffic e r s

B F. P R U N T Y , Pres.
R . A . CRAWFORD, Vice Pres.

B. F R A N K P R U N T Y , Cashier
G. N . S H E R M A N , Asst. Cash.

FU N D S FOR FARM L O A N S
Bankers desiring perm anent connections for placing farm loans w ill find it advantageous
to w rite us. R epresentatives desired in m an y sections of Iow a.
A sk for fu ll inform ation giving us details o f w h a t y o u have to offer.

American Mortgage & Securities Company
M anchester, Iow a

Capital $200,000
A.
P. M. CLOUD, Vice President
J. F. GRAHAM, Vice President

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

M. CLOUD,'President

F, Ç. WAPLES, Secretary
H. E. HENDERSON, Treasurer

THE

NORTHWESTERN

BANKER

November, 1917

For Bankers and Their Wants
This department of t H E N O R TH W ESTER N B A N K ER is
to assist S U B S C R IB E R S in obtaining goods or service hard
to find. It is free. Use it. A SK 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 charge. In answering classified
advertisements which have key numbers please enclose a
two-cent stamp. This is used to forward your letter.

HOW THIS DEPARTMENT GIVES YOU REAL
SERVICE.
This is a regular department of THE NORTH
WESTERN 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 TELL 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
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

CHANGE MAKER
Especially for Banks.
Practical—Reliable.
Cannot "Short change.”
Impossible to press down key
unless the required coins are in
the coin-holder.
Prevents errors—Saves time.
Pleases customers.
Price is right—Guaranteed.

B. C. HOEFER
4128 W a ln u t S t.
KANSAS C IT Y , M O.

F. L. E A T O N , V ice-President
C. D . V A N DYKE, Cashier

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.
This is a complimentary service to our readers and
may be worth many times the price of a year’s sub
scription to The Northwestern Banker.
We will place you in communication with reliable
firms or expert service men, lay before you the infor
mation we possess, or publish a blind advertisement
securing as many propositions as possible from re
sponsible parties, without charge. Please enclose a
2-cent stamp for reply.
POSITIONS WANTED—By young man twentyone years of age as teller or assistant cashier with op
portunities for advancement in small bank in a town
of not less than 1,000. Has had high school and busi
ness college education and one year’s experience in
a good sized bank and town. American and Scan
dinavian nationality. Best of references. Address
No. 2111, The Northwestern Banker._________
-11
MAN of fifty, experienced in the work, technical and
otherwise, of handling real estate loans, including in
spection of property, now occupying responsible posi
tion, desires new connection, preferably with life in
surance or loan company in similar work, office or out
side or both. Object, better salary and working con
ditions. Address No. 2112, The Northwestern
Banker.____________________________________ -11
WANTED TO BUY—One to four hundred safety
deposit boxes and some steel filling cases for vault.
Farmers Savings Bank, Manson, Iowa.
-11
WANTED TO BUY—Second hand screw door safe
in good condition ; also second hand bank fixtures for
small bank if they are in first class condition. Address
No. 2113, The Northwestern Banker.
-11

GEORGE S. PARK ER, President

A . W . SMITH, A sst. Cashier
CLIFFORD A T K IN S O N , A sst. Cashier

L IV E S T O C K N A T I O N A L B A N K
Capital
$100,000.00

Sioux City, Iowa
LOCATED A T THE STOCK YARDS
Deposits $2,500,000.00

Surplus
$ 100, 000.00

T he G R E A T N O R T H W E ST being the feeding ground of the Live Stock Industry,
by v irtue of o u r location at the M ARKET PLA CE of this territo ry , w e can offer
unsurpassed RESERVE facilities for C o u n try Bankers.

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

Ñovember, 1917

THE

NORTHWESTERN

BANKER

WANTED—Position in bank by 19-ytear-old girl,
high school and normal college graduate. Comes from
a family of bankers, good bookkeeper and can use
Burroughs ledger posting machine. Has had one
year’s general banking experience. Is at present em
ployed but can commence at any time. Best of refer
ences furnished. Address No. 2114, The Northwestern
Banker.
-11
WANTED—Position as assistant cashier in north
west Iowa, by man who has had experience in that
position in a Montana bank. Can take a small financial
interest in the right kind of a proposition. Address
No. 2116, The Northwestern Banker.
-11
WANTED—Position by man who has had about
eight years of banking experience and some law.
References furnished. Address No. 2115, The Northwestern Banker._________
-11
IOWA BANK.FOR SALE—Deposits over thirteen
times capital, earnings over 30%. Good hustling town
of twelve hundred, northern Iowa. Large real estate
and farm loan business. A big money maker but re
quires a hustler. Controlling interest. When writing
give experience and references. Address No. 2117,
The Northwestern Banker.
-11
POSITION WANTED—Young married man,
three years assistant cashier, wants place in small
town bank as assistant cashier or cashier, January 1st.
Iowa or Minnesota. Thoroughly honest and reliable.
Address C. O. Loman, 512 Oak St., Grand Forks,
North Dakota.
11-12
STATE BANK OF FARLEY.
The last statement of the State Bank of Farley,
Farley, Iowa, shows that the capital stock is $25,000;
demand deposits, $65,802.01; time deposits, $171,457.05; undivided profits, $14,517.15, and certified
checks, $200, making total liabilities, $276,976.21.
The deposits have more than trebled since its or
ganization. The cashier, George A. Gibbs, has been
with this bank for the past eighteen years. The other
officers are: W. J. Creglow, president; Will Baker,
vice president, and Count Gibbs, assistant cashier.
On account of the increase in business several im
provements are to be made in the bank building which
will facilitate matters.

J. K. DEMING
President

JAMES M. BURCH
Vice-President

HERM ANN ESCHEN
Cashier

THE
Julian Collins has accepted a position at the Iowa
Savings Bank, Fort Dodge, Iowa.

SEGOND NATIONAL BANK
AND

DUBUQUE SAVINGS BANK
D U B U Q U E , IO W A
O R G A N IZ E D 1 8 7 6

OFFICERS A N D DIRECTORS
J. K. DEMING
President
JAMES M. BURCH
V. P. Farley & Loetscher
Mfg. Co.
CHAS. H. BRADLEY
Bradley Bros.
FRANK BELL
Capitalist

HERM ANN ESCHEN
Cashier
J. T . CARR
Secy-Treas. Carr, Ryder &
Adams Co.
GEO. W . KIESEL
Hurd, Lenehan & Kiesel
J. J. ROSHEK
Roshek Bros. Co.

R eserve A gents for N ational Banks
United States D epositary

Combined Resources - - $3,000,000.00

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

THE

NORTHWESTERN

BANKER

November, 1917

PLACE AND DE PUY PURCHASE ST. LOUIS
BANKER.
R. F. Place, associate editor of the Des Moines Capi
tal, and Clifford DePuy, publisher of the Northwestern
Banker, have recently purchased the St. Louis Banker,
a well-known bank publication of the southwest, lo
cated at St. Louis. Mr. Place will be editor and man
ager and Mr. DePuy will be publisher, this new con
nection in no way- affecting his present relations with
the Northwestern Banker.
The linking of the two publications in a business
way will give them a field covering the entire Missis
sippi valley. The Des Moines magazine is the oldest
bank journal west of the Mississippi, and its territory
takes in the entire northwest, while the St. Louis
Banker, which has been established for thirteen years,
is the only bank journal in the eighth federal reserve
district.

When You Visit Des Moines
Make it a point to call at the Bankers Trust Com
pany. We have over 200 stockholders among the
bankers of Iowa and will be glad to extend the ad
vantages of our complete facilities to all bankers
in the state.
In choosing our slogan, “The Bank for Service,”
we sought to express in fewest words the spirit
governing our relations with customers.
We offer the combined advantages of a strong
bank and trust company organization.

OFFICERS ARE RE-ELECTED.
At the annual meeting of the Wadena Savings Bank,
Wadena, Iowa, the stockholders elected the same di
rectors and the directors elected the same officers
who have so efficiently managed the affairs of that
institution. The officers are: J. O. Probert, presi
dent; F. J. Schroeder, vice president; W. D. Messerli,
cashier, and B. W. Probert, assistant cashier.
The usual 7 per cent dividend was declared and
the balance was placed to the undivided profit account.
The total deposits amount to $160,838.63.

BANKERS TRUST COMPANY
DES MOINES, IOWA

CAPITAL ONE MILLION DOLLARS
B. P. K a u ffm a n , P re s id e n t
F . W . S a rg e n t, V ice P re s.
C. H. S te p h en so n , C a sh ie r
D. E . A lld red g e , A sst. C a sh ie r J. H. K oons, S e c re ta ry
D IR E C T O R S
A sh to n C lem ens D r. O. J. F a y
H. H. P o lk
C. Li. H e r r in g
J. W . H o w ell
B. F. K a u ffm a n
F . W. S a rg e n t
S. S h e u e rm a n
R. R. R o llin s

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|
i

j§

EDWIN G. PROIITY
Certified Public Accountant

1
|

M e m b e r o f t h e I n s t it u t e o f A c c o u n ta n ts

i P u tn a m B u ild in g

DAVENPORT, IOW A 1

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E lectrical Equipment to r Banks
The complete electrical equipment for the Valley National Bank.
Des Moines, was installed by us and is the acme of perfection.
Get our prices first, for your bank or home.
Write or phone.

GREAT WESTERN ELECTRIC COMPANY
Phone Wainnt 6155

604 High St., DES MOINES, IOWA

C. H. EIGHMEY, President
G. J. COLLIER, Vice-President

B. F. BLOCKLINGER, Vice-Pres.
H. A. K0ESTER, Cashier

Capital, - - - - $200,000
Surplus & Profits, $200,000
H
Let us plan your bank interior and furnish estig mates on up-to-date furniture and fixtures. Three
g thousand banks in the United States have attested
m their satisfaction with FISHER-MORRIS PRODg UCTS.
jj
The above reproduction of one of the handsome
¡1 new interiors, installed by Fisher-Morris, is evidence
g of the quality of work you may expect from BANK
| FIXTURE HEADQUARTERS. Sketches and suggesS tions submitted free and without obligation.

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Federal Reserve Bank of St. Louis

B
g

g
[j
B
§f

First National Bank
DUBUQUE, IOWA

g
* Accounts of Bankers Solicited.

Write Us for Terms

November, 1917

THE

NORTHWESTERN

BANKER

WHEN YOU BUILD YOUR BANK
USE “THE SERVICE SYSTEM”
AND AVOID NEEDLESS MISTAKES
You will build your new bank building but
once. It will be a lifetime investment, expected
to give service for years to come. So it is an
investment of extraordinary importance.

ginning to end, by experts specially versed in
this one branch of the architecture—by men
who build bank buildings exclusively.

This organization is specially equipped to
Scores of Iowa and mid-west bankers have handle your building. The long and varied ex
made permanent and costly mistakes in their perience gained in handling the complete con
struction of nearly a hun
bank building construc
dred bank buildings is at
tion—m i s t a k e s which
your service. We have
w e r e entirely needless.
encountered everv prob
They have met with de
lem in bank construction.
lays, errors in arrange
Thru intense specializa
ment, mistakes in plan
The strongest argument we have to
tion, and the workings of
ning. Their final cost has
offer is the enthusiasm, confidence
our new system, we have
frequently run double the
and satisfaction expressed by the
eliminated all inefficiency.
original allotment. Such
bankers we have served and are serv
blunders have been the
ing. Our booklet, “ Modern Banks,"
result of inexperience in
gives you the names of many we have
WHEN YOU BUILD
bank building construc
built, illustrated and described. Be
tion, on the part of the
low we give you a list of the banks
Use THE S E R V I C E
architect or contractor.
now building under T H E S E R V IC E
SYSTEM. THE SERV
Such experiences are com
SYSTEM . Write them, visit them,
ICE
SYSTEM is a spemon, not exceptions.
talk to them confidentially. Ask them
c
i
a
1
i
z e d bank-building
about T H E S E R V IC E S Y ST EM . They
system—unlike
any other
Bank b u i l d i n g is a
Know!
—under personal supervi
highly specialized branch
sion of J. A. Raven,
of architecture. It re
Peoples State Bank, Gnthrie Center, Iowa.
acknowledged bank engi
quires special knowledge,
First National Bank, La Mars, Iowa.
neering authority.
s p e c i a l experience in
First National Bank, Dunlap, Iowa.
meeting bank require
First National Bank, Iowa Falls, Iowa.
We are specialists in
ments, special facilities.
Farley State Bank, Farley, Iowa.
bank designing, building,
Milford State Bank, Milford, Iowa.
remodeling—that is our
Nearly one h u n d r e d
Bank of Edgemont, Edgemont, S. D.
only business. We have
banks in Iowa and sur
First National Bank, Bancroft, Neb.
but one thing to sell—
rounding s t a t e s have
S E R V I C E . Our one
a v o i d e d usual errors.
charge to you is our serv
Their buildings have been
planned and constructed under a new special ice charge, and the efficiency of our system
ized bank-building system—THE SERVICE saves you that. Our system is the new, more
SYSTEM. Their structures have been placed satisfactory way. Ask us about it. Our new
under the personal supervision of J. A. Raven, a catalog, “Modern Banks,” illustrating and de
foremost authority on bank engineering. Their scribing many modern banking structures, will
structures have been handled complete, from be- be mailed to you upon request.

Now Building

The Lytle Company, Sioux City, Iowa
J . A. RAVEN, P r e s id e n t
Architects and Engineers of Complete Bank and Office Buildings

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

THE

NORTHWESTERN

BANKER

November, 1917

T HE CITY NATIONAL BANK
O F C L IN T O N , I O W A

C apital, S u rp lu s an d P rofits • • $ 500,000.00
D e p o s i t s .......................................
$3,900,000.00
O FF IC E R S
A. G. SMITH, President
G. M. CURTIS, Vice-President
A. C. SMITH, Vice-President and Cashier
A. W. HANSEN, Assistant Cashier
Accounts of Banks and Bankers received on most favorable terms. Correspondence invited.
=
,

...

....

itiiiiii m i M inn m im im i i it in i il m in i M u lin ili il il m i in 111111111111111111111u n n i h n i n i m i n u n 1111111111111111m i m u 111111111111111111111m i

IOWA
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B A N K ER S FROM IOWA WHO A T T EN D ED T H E A M ER
ICAN B A N K ER S CONVENTION A T A T LA N T IC C IT Y .

*Andrew, L. A., Pres. Citizens Savings Bank; Vice Pres, for
Iowa, State Bank Section; and wife, Ottumwa; Traymore.
♦Batch, Albert F., Pres. Marshalltown State Bank, and wife,
Marshalltown; Traymore.
♦Beery, Edwin, Cash. Garwin State Bank, and wife, Garwin;
Monticello.
♦Brentno, Charles R., Vice Pres. Bank of Dallas Center, Dal
las Center; Strand.
♦Burlanek, Jr., John, Pres. Peoples Savings Bank, Cedar Rap
ids; Monticello.
♦Cavanagh, John A., Vice Pres. Des Moines National Bank,
and wife, Des Moines; Marlborough-Blenheim.
♦Crawford, R. A., Pres. Valley National Bank, Des Moines;
Traymore.
De Puy, Clifford, Publisher The Northwestern Banker, Des
Moines; Breakers.
♦Dinwiddie, J. M., Pres. Cedar Rapids Savings Bank, and
wife, Cedar Rapids; Marlborough-Blenheim.
♦Dunlap, John A., Vice Pres. Keokuk National Bank, and wife,
Keokuk; Breakers.
♦Elliott, J. A., Cash. Commercial Savings Bank, Des Moines;
Breakers.
♦Frazier, O. L., Cash. Farmers Bank, and wife, Davis City;
1719 Pacific Ave.
♦Gracey, Glen M., Cash. First State Bank, and wife, Holstein;
Chalfonte.
♦Hall, Walter T., Vice Pres. Citizens Savings Bank, and wife,
Ottumwa; Traymore.

♦Hamilton, John T., Pres. Merchants National Bank, and wife,
Cedar Rapids; Traymore.
♦Huxford, Edward D., Pres. Cherokee State Bank, and wife,
Cherokee; Chalfonte.
♦Leach, S. M., Pres. Adel State Bank, Adel; Pres. Iowa Bank
ers Association; Strand.
♦Le Roy, A. R., Pres. First National Bank, and wife, Man
chester; Strand.
♦Lundquist, E. L., Vice President First National Bank of Mar
cus, Marcus; Haddon Hall.
♦Johnson, E. L., Pres. Leavitt & Johnson Trust Company,
Waterloo; Chalfonte. »
♦Manley, Wilbur P., Pres. Security National Bank, Sioux
City; Chalfonte.
♦Mesmer, Carl W., Asst. Cash. Peoples Savings Bank, Des
Moines; Strand.
♦Miller, Homer A., Pres. Iowa National Bank, and wife, Des
Moines; Traymore.
♦Miller, R. H., Cash. First National Bank, Estherville; Strand.
Miller, Walter H., Iowa National Bank, Des Moines; Tray
more.
♦Montgomery, W. L., Pres. Iowa State Savings Bank, Sioux
City; Traymore.
Noble, F. H., Stockholder Central State Bank, Des Moines;
SgesIcIg
Noble, Mrs. F. H., Central State Bank, Des Moines; Seaside.
♦Nyemaster, Ray, Vice Pres. The German Savings Bank, Dav
enport; Haddon Hall.
♦Parker, George S., Pres. Live Stock National Bank, and wife,
Sioux City; Marlborough-Blenheim.
♦Perkins, George B., Pres. First National Bank, Sac City;
Strand.
♦Price, A. M., Pres. First National Bank, and wife, De Witt;
Shelburne.
♦Pyle, W. C., Cash. First National Bank, and wife, Webster
City.
♦Rodamar, Ira, Cash. The Leavitt & Johnson National Bank,
and wife, Waterloo; Chelsea.

■

CHAS. SHULER, President
W. H. GEHRMANN, Vice-President

...... ■
;-------

FRANK B. YETTER, Cashier
LOUIS G. BEIN, Assistant Cashier

C A P IT A L S T O C K ..................................$ 1 5 0 ,0 0 0 .0 0
SURPLUS

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

U N D IV ID E D P R O F IT S

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

We invite th e business o f B a n ks , Bankers a n d M erchants desiring P ro m p t , E fficient
a n d Satisfactory Service.
■

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

THE

November, 1917

NORTHWESTERN

BANKER

2500 lowans Guarantee
Hawkeye Tires
HESE lowans are stockholders in The Hawkeye Tire
& Rubber Company. Their individual investments
run from $25.00 to $10,000.00.
HESE lowans are to be found in every county in the
state. Personal pride, as well as good business judg
ment, is responsible for the fact that every stockholder
feels it his duty, individually, to make The Hawkeye Tire
& Rubber Company a success.

HESE lowans know the measure of the company’s
success can only be judged by the quality of the tires
it produces. They therefore have not stinted time nor
money in making this plant one of the most modern in
the country. Neither have they spared their efforts in
creating an executive, manufacturing and sales organiza
tion that is, we believe, unsurpassed by any rubber
company.

The next time you need a tire go to the Hawkeye dealer in
your town. You will find that the dealer is a stockholder in the
company. You will find that he is not only interested in selling
you a Hawkeye Tire today but that he wants to sell you Hawkeye Tires all the time. You will find that he will, therefore, give
you the very best of service. You will find that The Hawkeye
Tire & Rubber Company stands behind him. You will find that
2500 lowans stand behind The Hawkeye Tire & Rubber Company.
“ T IR E S THAT W EAR”
H aw keye T ires
Non-Skid and Ribbed Tread

S a n ta Fe T ires
Non-Skid and Plain

RED AND GRAY TU BES

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

November, 1917

BANKER

THE CENTRAL STATE BANK
DES MOINES, IOWA

Capital $250,000.00 Surplus and Profits $250,000.00
OFFICERS
SIMON CASADY, President
GRANT McPHERRIN, Vice-President
JOHN B. McDOUGAL, Cashier
HUGH B. HEDGE, Vice President
FRANK C. ASH, Ass’t Cashier

REMEMBER OUR FOUR CA RD IN A L PRINCIPLES
A bsolute Safety.
C ourteous T reatm en t to All.
C onsistent Liberality.
Prom ptness in E xecution.
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IOWA
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♦Smith, Alfred Cox, Vice Pres, and Cash. City National Bank,
and wife, Clinton; Haddon Hall.
♦Vrba, J. F. W., Cash. First National Bank, and wife, Garner;
Strand.
*Wacker, Arthur, Asst. Cash. Farmers Savings Bank, Wilton
Junction; Chalfonte.
Warner, Frank, Sec’y Iowa Bankers Association, Des Moines;
Marlborough-Blenheim.
*Watts, T. R., Cash. The Citizens Bank, and wife, Grand
Junction; Breakers.
♦Williams, Louis N., Cash. The First National Bank, and
wife, De Witt; Shelburne.
♦Wilson, James J., Cash. First National Bank, Malvern; Traymore.
♦Delegate.

BANKERS’ CLUB HOLDS MEETING.
The annual meeting of the Des Moines Bankers
Club was held recently and Ç. A. Barr was elected
president; Grant McPherrin was chosen vice presi
dent, and L. M. Barlow, secretary-treasurer. J. R.
Capps and B. B. Vorse were named as members of
the executive board. Hon. Frank H. Helsell, of Fort
Dodge, gave a very interesting address on “War Con
ditions in this Country.”

F. F. JONES SELLS INTEREST.
Senator F. F. Jones has recently sold all of his stock
in the Villisca National Bank, of Villisca, Iowa, and
the Bank of Mortons Mills to the other stockholders
of these banks. Mr. Jones has been connected with
the Villisca National Bank and its predecessor, the
Farmers Bank, for more than twenty-two years. For
sixteen years he was cashier and active head of the
bank, but in 1911 he gave up the active management
and became president.
F. M. Dirrim, who has been vice president, succeeds
Mr. Jones as president. W. R. Finlayson is cashier
and active manager and P. H. Peterson is assistant
cashier.
BANKING INSTITUTE MEETS.
The first general meeting of the Des Moines Chap
ter of the American Institute of Banking was held
recently at which over 100 members were present.
Talks were given by Colonel Bonicastle, Major
Graham, judge advocate at Camp Dodge, and Captain
Moore, who spoke on the relation of the banker to the
soldiers.
Leo O’Flaherty is president; W. Phillips, vice presi
dent; Wray Bertholf, treasurer, and C. K. Hess, sec
retary.
The study class consists of the discussion of banks

PEOPLES TRUST & SAVINGS BANK
E s ta b lis h e d 1893

CLINTON, IOWA
CAPITAL, $300,000.00

—

SURPLUS, ALL EARNED, $300,000.00

—

DEPOSITS, $3,800,000.00

Offers the facilities and services of a live, up-to-date banking house, fully equipped and
am ply capitalized to handle intelligently and efficiently ev ery branch of legitim ate banking.

COMMERCIAL — SAVINGS — SAFE DEPOSIT — TRUST
Accounts from banks in its territory, and collections receive the special
attention of an officer of the bank
J . H. INGWERSEN
C. F . ALDEN
W . W . COOK
P r e s id e n t
V ic e P r e s id e n t
C a s h ie r
J . L. BOHNSON, C. S . HARRIS a n d W . S . GARDNER
A s s is t a n t C a s h ie r s

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

November, 1917

THE

NORTHWESTERN

and banking, loans and investments and public speak
ing. On ladies’ night there will be a debate with
Chicago and also a dance.
The committees are—Educational: Luge, Clark,
Cornwall and Gordon; entertainment: Morrow, Phil
lips, Way, Morton and Scott; publicity: Davis, Tumbleson and Hart.

BANKER

KRATIONAL
1

COMMERCER

.S T O O J * "
JOSEPH A. KELLY ELECTED CASHIER.
Joseph A. Kelly, who has been connected with the
United States National Bank, of Omaha, has succeeded
J. J. Sullivan as cashier of the Farmers Savings Bank,
of Bernard, Iowa. Mr. Kelly has had considerable
banking experience.
The capital stock is $15,000; undivided profits, $2,478; deposits subject to check, $79,591.19; demand de
posits, $1,221.80; time deposits, $51,705.95.

C I T Y ',

XOW A.

M a n y o f your
friends fin d our
facilities profitable.

IOWA FARM INVESTMENT COMPANY.
The Iowa Farm Investment Company has been or
ganized in Des Moines with an authorized capital of
$1,000,000. The company has been formed to handle
Iowa land and Iowa mortgages.
The officers are: W. F. Ghormley, president; E.
Housh, first vice president; J. P. Anderson, second vice
president; Minor Silverberg, treasurer; Chas. A.
Housh, secretary; J. B. Lince, chairman title commit
tee; Quincy A. Willis, auditor; Mark A. Hall, counsel.

W h y d o n 't y o u fall in line?

S. O. ROSSING SELLS INTEREST IN BANK.
The Rutland Savings Bank, of Rutland, Iowa, which
has been managed for so many years by S. O. Rossing,
cashier, is now under new management, with Felix
Gullixson in charge. The bank has grown and devel
oped under Mr. Rossing’s management until it is now
one of the strongest banks in that locality.
The other officers of the bank are: Albert Hemerson, president, and G. De Groote, vice president.
STATE SAVINGS BANK OF LAM ONI.
The beautiful new building of the State Savings
Bank, of Lamoni, Iowa, will probably be completed
by December 1, 1917. A stairway opening on the
main public lobby leads to a mezzanine floor over the
vault to the north of the main banking room, which
provides two very desirable committee rooms. The
beam ceiling in the main banking rooms will be eight
een feet, six inches, high. The vestibule, public lobby,
vault lobby, telephone booth and coupon booth will

The

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of the very finest—

Q U Aa L I T Y

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—is always to be found here §n

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Our Banker Customers are many because they
get S e r v ic e plus Q u a lity with every article.

RANK

CHLAMPP

JEWELERS

DES MOINES,

of Davenport, Iowa
Ü C a p ita l s t o c k . . .
g S u rp lu s ...................
g U n d iv id e d p ro fits
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O F F IC E R S

CHAS. N. VOSS,
P re s id e n t
H JO S E P H F . PO R T E R ,
V ic e -P re s id e n t
m R A Y NY EM A STER,
=
V ic e -P re s id e n t

ED . KAUFM ANN, f l
C a sh ie r
F . C. K R O E G E R , =
A sst. C a sh ie r =
OTTO R IE C H E ,
=
Asst. C a sh ie r | |

H Our adequate equipment and exceptional facilities for M
H handling business in every department of banking are at M
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

600,000.00 3
600.000. 00 Ü
368.000. 00 Ü
11,700,000.00 H

THE

NORTHWESTERN

BANKER

November, 1917

CAPITAL AND SURPLUS, $ 5 0 0 ,0 0 0 .0 0
RESOURCES, $8 ,0 0 0 ,0 0 0 .0 0

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I O W A
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accommodation, comfort and convenience. Having aldisposal of our patrons the best of banking service,
ways been interested in the personal welfare of our
patrons, it has been a great pleasure to be able to give
financial aid and contribute means which would tend
to insure prosperity for the people of our community.”
The officers are : George Ulch, president ; George E.
Zenishek, vice president; J. S. Ulch, cashier, and Leo
G. Ulch, assistant cashier.

have terrazzo marble floors while the officers’ quarters,
private offices, working, stationery and committee
rooms will have wood floors covered with cork carpet.
All the cabinet work and furniture will be of mahog
any.
The exterior will be constructed of artistic face brick OGDEN STATE BANK IN GOOD CONDITION.
At the annual meeting of the stockholders of the
in five shades, variegated. The base will be of gray
granite quarried at Concord, New Hampshire, and the Ogden State Bank, of Ogden, Iowa, 232 of the 250
trimming will be of silver gray stone. The cost of shares of stock were represented.
The same directors were re-elected and they elected
the new building will be about $35,000.
The officers of the bank are: W. A. Hopkins, pres the following officers: Dr. J. H. Noyes, president; H.
ident; A. A. Dancer, vice president; Oscar Anderson, R. Eaton, vice president; William Jons, cashier, and
cashier; Wilber Prall, Claud L. Smith and Horner Arnold Boehm, assistant cashier.
A good dividend was declared and the bank was
Hopkins, assistant cashiers.
found to be in excellent shape due to the careful and
The deposits are $599,138.98.
efficient management of the officers.
ULCH BROS.’ BANK HOLDS OPENING.
S. J. POOLEY ELECTED PRESIDENT.
The new bank building of Ulch Brothers Bank, at
Solon, Iowa, has been completed and was recently
S. J. Pooley, formerly cashier of the Grinnell Sav
opened for inspection. The bank makes the follow ings Bank, of Grinnell, Iowa, has been elected presi
ing statement:
dent and J. M. Woodworth succeeds him as cashier.
“For twenty-one years it has been the ambition of
Mr. Pooley came to the Grinnell Savings in 1903
the officers of the Ulch Brothers State Bank to offer from the First National Bank where he had had ten
banking facilities to our patrons second to none. Noth years of experience. When he took the cashiership the
ing has been overlooked or left undone to lay at the total assets were approximately $250,000 while today

The Commercial National Bank
WATERLOO, IOWA

Capital and Surplus, $500,000
OFFICERS
W. W. MILLER, President
F. C. PLATT, Vice-President

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

E. W. MILLER, Vice-President
GEO. E. LICHTY, Vice-President

H. C. SCHULTZ, Cashier
H. W. WENTE, Ass’t Cashier

November, 1917

THE

NORTHWESTERN

BANKER

Fi r s t N a t i o n a l B a n k
COUNCIL BLUFFS, IOWA

Assets Over

$ 3 ,0 0 0 ,0 0 0 .0 0
E. A . W ICKHAM , V ice-President
G. F. SPO ONER, A ss’t Cashier

J. P. GREENSHIELDS, President
JO H N J. SPINDLER, Cashier

More than half a century of successful hanking

they are around the $925,000 mark. Mr. Pooley has
given the bank faithful and efficient service and richly
deserves the promotion which has been given to him.
Mr. Woodworth has been chief bank examiner under
the new state banking department. He came to Grin
ned after a number of years of successful banking ex
perience in Perry, to take charge of the credit de
partment of the Spaulding Manufacturing Company
which he resigned in order to accept the position in
the state banking department.
D. S. Morrison was elected vice president. George
H. Walker and Carl E. Child remain as assistant cash
iers.
The bank recently celebrated its fortieth anniversary.

Street, Des Moines, and being a director in the Iowa
Trust & Savings Bank, is well acquainted with the re
quirements of the banker as to the care of his eyes.
Mr. Hanger has been in business for over thirtyfive years and invites Des Moines as well as visiting
bankers to consult him on any matter pertaining to the
care of the eyes.
BIG INCREASE IN RESOURCES.
An increase of $46,891.24 in resources has been made
by the Dallas County Savings Bank, of Minburn, Iowa,
during the past year. The total resources now amount
to $214,313.67.

A. C. HANGER DIRECTOR IN BANK.
A new bank at Wright, Iowa, was opened for busi
A. C. Hanger, optician, is located at 526 East Locust ness recently.

Iow a N a t i o n a l B a n k
and Des Moines Savings Bank
In Same Building Under One Management

Combined Capital and Surplus $298009000

Deposits Over $2090009000

T h e C o u n tr y B a n k ers’ B a n k o f I o w a is in a P o s itio n to
R e n d e r Y o u a S e r v ic e E qualed b y F e w and E x c e lle d b y
N o n e . W e S h all A p p r e c ia te an O p p o r tu n ity to S e r v e Y o u

OFFICERS
J. G. ROUNDS, Chairman of Board
HOMER A. MILLER, President
H. S. BUTLER, Vice President
CLYDE E. BRENTON, Vice President
R. L. CHASE, JR., Asst. Cashier
H. T. BLACKBURN, Vice President
JAMES F. HART, Asst. Cashier
JOHN H. BLAIR, Vice President
JAMES BURSON, Asst. Cashier
G. E. PEARSALL, Vice President
J. R. CAPPS, Cashier

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Federal Reserve Bank of St. Louis

THE

NORTHWESTERN

BANKER

November, 1917

ELECTED ASSISTANT TREASURER.
Edmund Parker Tate, formerly Chief Clerk of the
Guaranty Trust Company, of New York, has recently
become an assistant treasurer of the company. At
the age of fifteen he entered the employ of the Guar
anty Trust as a messenger and advanced rapidly
through the mailing, filing, registration, stock, book
keeping, collection, and auditing departments. At the
beginning of 1915 he became purchasing agent, and
through his initiative the printing plant was installed
and developed to its present point of working effi
ciency.
In September, 1916, Mr. Tate was appointed chief
clerk. He will take charge of the entire clerical or
ganization of the Federal Department, with its 300
members. He also will have special jurisdiction over

Peoples Savings Bank
DES MOINES, IOWA
E S T A BLISHED 1890

CAPITAL (Paid in) $50,000.00
CAPITAL (Earned) 50,000.00 $ 100,000.00
SURPLUS & PROFITS (Earned) 230,000.00
DEPOSITS
over 3,700,000.00
C. H. Martin, President
E. A. Slininger
Frank P. Flynn
Cashier
Vice President
Roscoe C. Morrow
Carl W. Mesmer
Assistant Cashier
Assistant Cashier

Accounts of Banks ani Bankers Solicited

Syndicate Trust
Com pany
1980 Continental and Commercial Bank Bldg,

Chicago

C apital $ 2 0 0 ,0 0 0 ,0 0
The Syndicate Trust Company is essen
tially a financing institution. It deals in
securities and floats high-class bond issues
and is in position through its various
avenues of communication to accomplish
successfully whatever it undertakes.
It
buys and sells bank stocks and assists in the
organization of Banks and Manufacturing
or other Corporations. A corporation always
combines powers and affords security not
found in the individual in the conducting of
large enterprises.

EDMUND P. TATE
Assistant Treasurer Guaranty Trust
Company, New York.

O F F IC E R S
D.
H.
C.
E.
L.

L.
C.
E.
G.
A.

the Accounting and Collection Divisions, and will as
sist in the educational work of the whole department.

Sawyer........................................... ............... President
Niblock........... ........... Vice President & Gen. Mgr.
Johnson........................... Secretary and Treasurer
K ill.......... ..................... 2nd Vice Pres, and Auditor
Stebbins.................................... .General Counselor

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| ROYAL HOTEL I
Excelsior Springs, Mo.
|

For Rest, Recreation and Recuperation,
Excelsior Springs Excels all Resorts.
STOP AT THE ROYAL HOTEL
American Plan, $2.50 up
A Safe Place for Your Wife and Family.

A S K FO R R A T E S

e o

. F

o r r o w

, P rop.

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

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1 H T H E I R V I N G WArowA00, 11
|

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Elevator Service
Steam Heated
European Plan
Rooms 75c—$1.00
With Bath S1.25-S1.50
Cafe Service

IRV IN G H O TEL COMPANY

| j
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FRED ROBL1N, Manager

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THE

November, 1917

NORTHWESTERN

SHOWING THE CHILDREN HOW TO SAVE.
(Continued from page 10.)
it up faithfully for five years. During this time they
had lived in a rented house. But when the five years
were up they discovered that the kiddies had a nest
egg in the bank. They used it to start paying for a
home. And they own that home today.
Seventeen years ago, a group of club women orga
nized the Penny Provident Association, and through
the school began a campaign to educate children to
save their pennies. Mrs. H. L. Carroll was made presi
dent of the association and is now serving as its secre
tary. *
The association became the savings bank of the Des
Moines public schools. Teachers in the schools keep a
supply of penny savings stamps and at certain times
each week a child can buy as many stamps as he has
pennies saved.
These stamps are pasted on folders, which hold
fifty stamps each. When the folder is filled, it can
be brought to the bank to be deposited the same as
cash.
The bank where the funds are deposited pays 4 per
cent interest semi-annually on deposits that have re
mained six months. Children are encouraged to do
their own banking and long lines of youngsters stand
in front of the banker’s window on Saturdays between
9 a. m. and 1 p. m.—the kids’ banking hours—to make
their deposits.
Some of them that deposit are so small that their
mothers have to hold them up to the window while
they transact their business.
In the seventeen years that the Penny Provident As
sociation has been teaching thrift in the schools, $140,190.72 has been on deposit to the credit of 8,481 school
children. Of this amount, in the seventeen years, $105,011.31 has been withdrawn, leaving a balance last June
of $35,179.41.
According to Mrs. H. L. Carroll, not all that has
been drawn out has been spent. Some of it has gone
into larger accounts, the boys and girls having grown
up into men and women who have decided to keep
on with the habit of saving in a larger way.
And while the kiddies are doing their own banking,
taking pride in their little accounts and learning busi
ness methods, the pas and mas are finding out the
value of it, too, and more than one Des Moines family
owes to the children’s Penny Provident Association
that the roof over its head is bought and paid for.

BANKER

WATERLOO BANK & TRUST CO.
(FORMERLY WATERLOO LOAN & TRUST CO.)

Lafayette Building

W aterloo, Iowa

Now doing a General Banking and Trust Company busi
ness under the same successful management and with
added features and facilities will render the highest
service attainable.
Write us for particulars on farm loans or investments
suitable for Estates, Guardians, Individuals, State, Sav
ings and National Banks. These investments secured
by first mortgages and are also a direct obligation to
this bank.

Capital, Surplus and Profits
B. J. H O W R É Y , P re s.
J. W. A R B U C K L E, V. P.
C. A. MAINS, C ash.

$325,000.00

H. W . H O W R E Y , A. C ash.
E. H . W YANT, Sec’y.
G. H. DUNHAM, T re a s.

ADEQUATE FACILITIES
l

and perfected service make this an
ideal reserve bank for Iowa banks.
Every courtesy and accommodation extended
consistent with conservative banking.
In
quiries solicited and appreciated.

BLACK HAWK
NATIONAL
BANK
WATERLOO, IOWA
DR. F . W . P O W E R S, P r e s id e n t
A. E. GLENNY, Vice-Pres. CHARLES W. KNOOP, Cashier
JAMES LOONAN, Vice-Pres. H. E. RUGG, Asst. Cashier
CAPITAL

$ 2 0 0 , 000.00
RESOURCES

$2,750,000.00
“T he Bank of Stability and Progress”

THE CEDAR R A P ID S NATIONAL BANK
S T A T E M E N T MARCH 5, 1917.
Resources.

Liabilities.

Loans and Discounts ......... $ 9,540,445.18
O verdrafts.......... .................
137.05
U. S. Bonds and Premium..
517,000.00
Other Bonds and Securities
658,679.35
Real Estate .........................
275,000.00
Cash and due from banks.. 4,339,104.59

Capital ....... ................. . ^ 50,0000.00
306,348.42
Surplus & Undivided Profits
8,500.00
Reservations ........................
Circulating Notes .............
475,800.00
Deposits ......... .................... 14,039,717.75

$15,330,366.17

CEDAR RAPIDS,
IOWA
OlDECf

C°Ai«ECT»0<*S

40 Years of Continuous, Conservative
and Successful Banking

OFFICERS
RALPH VAN VECHTEN, President
GLENN M. AVERILL. Vice President
CHAS. C. KUNING. Asst. Cashier
GEO. B. DOUGLAS, Vice President
KENT C. FERMAN, Cashier
KARL H. REHNBERG, Mgr. Cr. & D is. Dept.
ED H. SM ITH , Vice President
MARTIN NEWCOMER, Asst. Cashier
ANNA R. SM O USE, Auditor
Accounts of Banks and Bankers Solicited. Unsurpassed Collection Facilities.

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

THE

NORTHWESTERN

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E s t a b lis h e d
1891

a t U n io n S to c k Y a r d s

T h e Stock Yards business of co u n try
bankers receives every attention.

BANKER

November, 1917

*Dunn, L. J., Vice Pres. City National Bank, and wife, Lin
coln; Traymore.
*Goerke, B. F., Pres. German-American Bank, Burr; Fredonia.
Farrell, John C., Director German-American Bank, Burr; Fre
donia.
*Gurney, E. R., Vice Pres. First National Bank, Fremont;
Haddon Hall.
*Haverstick, G. E., Vice Pres. United States National Bank,
and wife, Omaha; Traymore.
*Head, Walter W., Vice Pres. The Omaha National Bank, and
wife, Omaha; Traymore.
*Hughes, William B., Sec’y Nebraska Banking Association,
Omaha; Marlborough-Blenheim.
*Marnell, Robert O., Cash. Merchants National Bank, Nebras
ka City; Marlborough-Blenheim.
*May, J. T., Vice Pres. Fremont National Bank—Security
Sayings, and daughter, Fremont; Traymore.
*Menck, C. H., Cash. Commercial State Bank, Grand Island;
Seaside.
*McNish, Jesse C., Pres. The McNish Cattle Loan Company
—Sidney State Bank, and wife, Sidney; MarlboroughBlenheim.
*Delegate.

NEBRASKA BANKERS CONVENTION.
A very successful convention was held at Omaha
CATTLE LOANS NEGOTIATED
when the Nebraska Bankers Convention met there in
October. Just a few less than 1,000 delegates regis
tered. The speaking was uniformly excellent, and
JOHN F. COAL), President
although disappointment was expressed that George
WILLIAM J. COAD, Vice-President
M. Reynolds could not be present, on account of the
H. C. NICHOLSON. Cashier
fact that his son sailed for France on the day, Mr.
Reynolds was scheduled to speak at the convention,
nevertheless his place was filled by Hon. A. W. Jefferis, of Omaha, with a patriotic talk that aroused
great enthusiasm.
CAPITAL AND SURPLUS........... $300,«00.00
On the evening before the convention there was a
dinner
of the Past Presidents’ Association. S. H.
^ì1IUIIIIIIIIIII1II1I!IIIIIIIIIIIIIII>!III>IIUIIIIIIIIIIIIIIIIIIì:;3::ì:IIII!IIIIIIIIIII1II1IIII1UII1II!IIIIIII1IIIIII1IIIIIII!IIIIIIIIIIIIIIIIIMIIIIII1IIIIIIIIIIIIIIIIIIIIII!IIIIIII!IIII!IIII!IIIIIIIIIH
Burnham, president of the First National Bank, of
Lincoln, was elected president for the ensuing year,
and J. T l Trenery, president of the Farmers State
Bank, of Pawnee City, was elected vice president.
The following officers were elected: W. S. Weston,
of Hartington, president; J. F. Coad Jr., of South
Omaha, was re-elected treasurer, and Wm. B. Hughes,
B A N K ER S FROM N EB R A SK A WHO A T T EN D ED T H E
of Omaha, secretary. The new members of the Exec
AM ERICAN B A N K ER S CONVENTION AT
utive Council are W. A. Taylor, of Hastings; W. A.
A T LA N T IC C IT Y .
Selleck, of Lincoln; F. A. Cuscaden, of Omaha; Rollie
W. Yey, of Wayne, and A. L. Johnson, of Chadron.
♦Bloedorn, Howard B., Cash. First State Bank, Kenasaw;
W. W. Head, of Omaha, was put on the Council in
Breakers.
place of J. DeF. Richards, who has retired from the
Bloedorn, Mr., guest, First State Bank, Kenasaw; Breakers.
*Butler, W. A., Cash. Franklin State Bank, Franklin; Breakers. banking business. J. H. Kelley, of Gothenburg, was
*Cleary, Frank J., Asst. Cash. First National Bank, Grand Is elected Chairman of the Council.
land; Seaside.
A special meeting of members of the Amcriean
*Coad, J. F., Pres. Packers National Bank, So. Omaha; Marl- Bankers’ Association, held for the purpose of electing
borough-Blenheim.
*Drake, Luther, Pres. Merchants National Bank, and wife, the various Nebraska officers necessary- in that or
ganization, resulted as follows:
Omaha; Marlborough-Blenheim.

NEBRASKA

John W . Overstreet

W alter H. Rhodes

Rhodes-Overstreet Company
Consulting Bankers
Bank Stocks
OM AH A
6 2 0 W o rld H erald Bldg.

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Federal Reserve Bank of St. Louis

NEBRASKA
P hone Douglas 5 5 4 6

THE

Noveínber, 1917

NORTHWESTERN

BANKER

U nited S tates N ational B ank
OF OMAHA, NEBRASKA
M. T . B A R L O W , P r e s id e n t
G. W . W A T T L E S , C h a irm a n o f t h e
B oard
G. E . H A V E R S T IC K , V ic e P r e sid e n t
W . E . R H O A D E S , V ic e P r e s id e n t
R . P . MORSBIAN, V ic e P r e s. & C ash.
J. C. M’C L U R E , A s st. C a sh ier
G. H . Y A T E S , A s s t. C a sh ier
C. F . B R IN K M A N , A s s t. C a sh ier
T . F . M U R P H Y , A s s t . C a sh ier.
O. W IL L IA M S, A u d ito r

Capital - - - - $1,000,000.00
Surplus and
P r o fits ........... $925,000.00
Deposits - - - - $22,000,000.00
Your Business Cordially
Invited
Member Executive,' Council, Geo. E. Haverstick,
vice president United States National Bank, Omaha.
Vice president A. B. A. for Nebraska, Thomas Mur
ray, president Dunbar State Bank, Dunbar. Member
A. B. A. Nominating Committee, T. L. Mathews,
president Fremont State Bank, Fremont. Alternate
Member Nominating Committee, J. T. May, vice
president Fremont National Bank, Fremont. Vice
President State Bank Section A. B. A., M. W. Folsom,
president Nebraska State Bank, Lincoln. Vice presi
dent Trust Company Section A. B. A., George W.
Holmes, secretary First Trust Co., Lincoln. Vice
president Savings Bank Section A. B. A., C. A. Mc
Cloud, president First State Savings Bank, York. Vice
president National Bank Section A. B. A., I. R. Alter,
cashier First National Bank, Grand Island.
BANK HAS NEW HOME.
A new building is to be erected for the Merchants
& Farmers Bank, of Friend, Neb., and during the
construction work the bank will occupy temporary
quarters, as the old building is to be torn down. The
entrance will lead from the street level, doing away
with the steps now used. The north and west_ walls
will be constructed alike, making a pleasing uniformity.
The officers are: C. E. Bowlby, president; Jacob
Krebs, vice president, and H. E. Nunemaker, cashier.
NEW CASHIER FOR CROFTON BANK.
John Riefenrath has purchased the interests of Frans
Nelson, president, and George Nelson, cashier, of the

First National Bank, of Crofton. Mr. Riefenrath will
act as cashier and give his whole time to the interests
of the bank. He founded the bank about twelve years
ago and remained in charge until about four years
ago when he retired to enter the lumber business.
George Nelson will remove to Omaha where he will
enter the life insurance business.
NEW OFFICERS FOR BANK.
Several changes took place recently in the officers of
the Lancaster County Bank, of Waverly, Neb. I. W.
Bradt, a director of the American State Bank, of Lin
coln, becomes president; F. P. Dwiggins, cashier of
the American State Bank, is vice president, and C. A.
| M cC o n n e l l

& m o e l l e r

C E R T IF IE D P U B L IC A C C O U N T A N T S
OMAHA NATIO NAL B A N K B U IL D IN G

OM AHA, N EBR ASK A

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Western Stamp & Stencil Co. I
1201 Famam St., Omaha, Neb.

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The Merchants
National Bank
of OMA HA , N E B R A S K A
CAPITAL_________________ $500,000.00
UNDIVIDED PROFITS____ $511,824.00

SURPLUS__________________ $500,000.00
DEPOSITS
----- $10,164,324.68

OFFICERS

L U T H E R DRA KE. President
B. H. M E IL E , Cashier

ACCOUNTS

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Federal Reserve Bank of St. Louis

FRA N K T. HA M ILTO N. Vice-President
S. S. K E N T , Assistant Cashier

SOLICITED

FR E D P. HA M ILTO N, Vice-President
F. A. CUSCADEN, A ssistant Cashier

DEPOSITORY

THE

NORTHWESTERN

BANKER

November, 1917

three brothers, and Andrew Iverson. This gives Mr.
'Nelson and Mr. Vlach the controlling interest and no
doubt the bank will continue to make rapid strides of
advancement under their capable management.

THE ONLY BANK
— in t h e —
UNION STOCK Y A RDS

HOLDREGE STATE BANK.
On September 21, 1914, the deposits of the Holdrege
State Bank, Holdrege, Neb., were $214,105.33; on Au
gust 20, 1915, they were $228,640.52; on August 10,
1916, $384,861.06; on May 7, 1917, $560,406.93, and on
August 21, 1917, they amounted to $660,864.70. This
healthy growth in deposits proves that the bank is
very efficiently managed. The officers are: F. W.
Kiplinger, president; L. Brown, vice president; E. E.
Nelson, cashier ; C. A. Long and R. L. Cross, assistant
cashiers.

Our location and facilities
are unequalled. We are
the clearing house for the
Live Stock Business of the
Omaha Stock Yards.
Capital, Surplus & Profits, $1,500,000.00
Combined Resources,
14,400,000.00

BANK CHANGES HANDS.
The controlling interest in the Farmers State Bank,
of Hendley, Neb., which was owned by C. P. Hord,
president, has been sold to C. E. V. Smith and B. C.
Smith, of the First State Bank, of Beaver City, Neb.
C. E. V. Smith will be president and B. C. Smith will
be vice president and active manager, with Wm.
Blough as cashier.
The Farmers State Bank is one of the strongest of
the small town banks in southwestern Nebraska. Its
deposits amount to $175,000.

H. C. BOSTWICK, President
J. C. FRENCH, Vice President
J. S. KING, Ass’t to President
FORD E. HOVEY, Vice President H. C. MILLER, Assistant Cashier
J. B. OWEN, Cashier
F. J. ENERSON, Assistant Cashier
H. W. VORE, Auditor

NEW BANK OPENS AT PLATTSMOUTH.
The Farmers State Bank, a new organization, has
opened for business at Plattsmouth, Neb., in a new
banking room which is furnished with new and mod
ern equipment. There are forty-five stockholders, of
whom twenty-five are farmers.
The officers of the new bank are: T. M. Patterson,
president; A. J. Schaefer, vice president. Mr. Patter
son has been in the banking business for a period of
over thirty years.

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NEBRASKA

EMIL FOLDA ELECTED PRESIDENT.
Emil Folda, who has been cashier of the Clarkson
Haines, assistant cashier of the State Bank of Narka, State Bank, Clarkson, Neb., has recently been elected
Kan., becomes cashier.
president of that bank and his son has been elected
The former officers were: G. R. Buckner, president; assistant cashier. With this change Mr. Folda be
Geo. F. Danforth, vice president, and R. L. Tiger, cash comes president of three banks, Clarkson State Bank,
ier.
Colfax County Bank, of Howells, and Farmers & Mer
chants Bank, of Linwood.
Mr. Folda is also president of Group 2 of the Ne
LEIGH BANK STOCK CHANGES.
braska Bankers Association which is comprised of
A deal was recently closed whereby E. M. Nelson, over 200 banks. Mr. Folda has been actively engaged
cashier, and Will Vlach, assistant cashier, of the Leigh in the banking business for the past thirty years and
State Bank, of Leigh, Neb., have purchased the inter is considered one of the best posted men on banking
ests held by Messrs. Niels Olson, president, and his lines in the state.
tin n n n n n n in n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n in n n n n n iiiir

CITY NATIONAL BANK
K EA RN EY , N EBRA SK A
C a p ita l
......... ....................................$ 100,000.00
S u rp lu s an d P r o fit s ..............................
45,198.47

D ep o sits .............................. ................... 2,090.107.1S
O F F IC E R S
D a n M o r r i s ...........................................
.P re s id e n t
Geo. B u r g e r t ....................................V ice P re s id e n t
C. W. N o rto n ...................................................C a sh ier
F. W. T u r n e r ............................ A s s is ta n t C a sh ier
K. O. H o lm e s ... .C h a irm a n B o a rd of D ire c to rs
Our e x c e p tio n a l f a c i l it i e s fo r h a n d lin g b u s in e s s in e v e r y
d e p a r tm e n t o f b a n k in g a r e a t y o u r se r v ic e .

M E M B E R O F T H E F E D E R A L R E S E R V E BA N K O F T H E
U N IT E D STATES

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

THE

November, 1917

NORTHWESTERN

BANKER

The Omaha National Bank
Omaha, Nebraska
Established in 1866

Capital & Surplus $2,000,000.00

Deposits $25,000,000.00

Exceptional collection facilities for Iow a business.
J. H. M ILLA RD , President
B. A. W ILCOX, Vice President
O. T. ALVISO N, Assistant Cashier

OFFICERS

WARD M. BU R G ESS, Vice President
FR A N K BOYD, Vice President
J. A. CHANGSTROM, Assistant Cashier

NEBRASKA NEWS AND NOTES.
The First State Bank, of Beaver City, Neb., has
purchased the bank at Hendley, Neb., and will make it
a branch of the system managed by Smith & Son.
Farmers State Bank, Culbertson, Neb., have installed
a beautiful set of quartered oak fixtures with marble
base and marble dealing plates. The grille work is of
oxidized copper, purchased from the H. Ehrlich &
Sons Manufacturing Co., St. Joseph, Mo. The bank
is very proud of its new fixtures.
E. E. Butler is president of the new bank at Arnold,
Neb., just chartered by the state banking board. It
has a capital of $25,000 and F. W. Brown, of Arnold,
is vice president, and L. R. Chandler, of Arnold, is
cashier.
Woodlake Bank, Woodlake, Neb., have installed a
beautiful set of quarter-sawed oak fixtures, purchased
from the H. Ehrlich & Sons Manufacturing Co., St.
Joseph, Mo., with marble base and marble dealing
plates. Grille work is of oxidized copper.
The Farmers State Bank, of Arnold, Neb., increased
its capital stock to $25,000.

HOTEL

CASTLE

300 FIREPROOF ROOMS

Omaha

With bath single, $1.50 and $1.75; double, $2.50 and $2.75.
With private toilet single, $1.00; double, $1.50.
A Safe Home for Your Mother, Wife or Daughter.

FRED A. CASTLE, Prop, and Mgr.
ttO O RM AN -BVILT BANKS

A . M OORM AN Ö C O .
DESIGN

W A L T E R W. HEAD, Vice President
EZRA M ILLA RD , Cashier
EDW. N E A L E , Assistant Cashier

Work has been commenced on the new building for
the Farmers State Bank, Liberty, Neb.
Minatare Bank, Minatare, Neb., have erected a new
building and have installed new fixtures, purchased
from the H. Ehrlich & Sons Manufacturing Co., St.
Joseph, Mo. The fixtures are of marble 54 inches
high with the cornice and pilasters of quarter-sawed
oak, and with oxidized copper grille work. The entire
banking room is wainscoated with marble, the same
as the counter front.
The new bank recently organized at Lodge Pole,
Neb., will be ready to begin business in a very short
time. They expect to build up-to-date quarters, but
will probably rent a building until next spring.
Beatty Douthit has resigned his position in the
Farmers State Bank, Fullerton, Neb., and has been
succeeded by Wm. Abel.
The interior arrangements of the lower floor of the
Minden Exchange National Bank, Minden, Neb., is
being enlarged and changed.

LEE L. L A R M O N
F O N T E N ELL E F L O R IS T
1814 Douglas
Omaha, Neb.
C o rsa g es an d B u tto n ie r g , D e s ig n s , W e d d in g B o u q u e ts
a n d P la n t s
C all p e r s o n a lly , w r it e , p h o n e or w ir e y o u r o rd er

Study Business and Law in the
Colleges of Drake University

“ cX S

to be headed by George W. Clarke, for four years Governor of Iowa.
Practical problems presented by commercial and court organizations of
D es Moines. For catalog address

HILL M. BELL, President
Des Moines, Iowa

CONST^VCTION ^ECONST^VCTION
AND EQUIPMENT OP

BANK BVILDINGS
SAÍNT

MINNESOTA STREET
PAVL MINNESOTA

C O R R E SP O N D E N C E

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Federal Reserve Bank of St. Louis

Item s routed direct.

INVITED

THE MacKINNON OFFICE SUPPLY CO.
Nebraska State Bank Building
L in c o ln , N e b ra s k a

“Our ‘MOSCO’ pencils for bankers use are a delight
to the user, in No. 2, 3, and 4, at 75 cents the dozen.
Never gritty—pure graphite. Call for a sample. Every
thing for the banker from a pin to a safe.”

THE

NORTHWESTERN

BANKER

November, 1917

PLACE YOUR MINNEAPOLIS BUSINESS WITH

T h e Scandinavian American National Bank
MINNEAPOLIS
Officers
H. R. LYON, V ic e -P re sid e n t
CHAS. B. MILLS, V ic e -P re sid e n t
A. UELAND, V ic e -P re sid e n t
ED G A R L. MATTSON, V ic e -P re sid e n t
GEO. F . O RD E, V ic e -P re s id e n t

E. V. BLOOMQUIST, C a sh ier
A. E. L IN D H JE M , A sst. C a sh ie r
T RY G V E OAS, A sst. C a sh ie r
W. R. M URRAY, A sst. C a sh ier

CORRESPONDENCE IN V IT E D

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M INNESOTA
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B A N K ER S FROM M INNESOTA WHO A T T EN D ED
AM ERICAN B A N K ER S CONVENTION AT
A T L A N T IC C IT Y .

THE

*Barton, J. W., Vice Pres. Metropolitan National Bank, Min
neapolis; Marlborough-Blenheim.
♦Brown, Cyrus P., Vice Pres. First National Bank, St. Paul;
Traymore.
*Budd, Charles H., Pres. Montevideo State Bank, and wife,
Montevideo; New Belmont.
♦Chapman, Joseph, Vice Pres. Northwestern National Bank,
and wife, Minneapolis; Traymore.
*Chase, Kelsey S., Pres. Peoples Bank, and wife, St. Paul;
Traymore.
♦Cotton, I. F., Pres. Central State Bank, and wife, Minne
apolis; Breakers.
♦Crane, A. A., Vice Pres. First and Security National Bank,
Minneapolis; Marlborough-Blenheim.
Dowling, M. J., Pres. Olivia State Bank, and wife, Olivia;
Marlborough-Blenheim.
♦Draper, C. H., Pres. The First National Bank, and wife,
Wells; Traymore.
♦Furst, William, Vice Pres. Millers and Traders State Bank,
and wife, Minneapolis; Marlborough-Blenheim.
♦Gooding, A. C., Pres. First National Bank, Rochester; St.
Charles.
Gregory, W. D., Minneapolis; Chalfonte.
♦Hanscom, Geo. E., Pres. Merchants National Bank, and wife,
St. Cloud; Marlborough-Blenheim.
Hanscom, Miss Louise, State Bank of Watertown, Watertown; Marlborough-Blenheim.
♦Hawley, Newton F., Treas. Farmers and Mechanics Savings
Bank of Minneapolis, Minneapolis; Marlborough-Blen
heim.
♦Mattson, Edgar L., Vice Pres. Scandinavian-American Na

tional Bank, and wife, Minneapolis; Marlborough-Blen
heim.
♦Mills, Charles B., Vice Pres. Scandinavian-American Nation
al Bank, Minneapolis; Traymore.
♦Mitchell, James L., Vice Pres. Capital National Bank, and
cousin, St. Paul; Traymore.
♦Mitchell, John R., Vice Pres. Capital Trust and Savings
Bank, and daughter, St. Paul; Traymore.
♦Richards, G. H., Sec’y Minnesota Bankers Association, and
wife, Minneapolis; Marlborough-Blenheim.
♦Roberton, J. G., Pres. Rushford State Bank, and wife, Rushford; Breakers.
Skinner, Mark, Vice President First National Bank, St. Paul;
Traymore.
♦Thomson, J. C., Auditor Northwestern National Bank, Vice
Pres. A. I. B. Institute, and wife, Minneapolis; Traymore..
♦Wellcome, F. H., Pres. Union Investment Company, and
wife, Minneapolis; Chalfonte.
♦Delegate.

NEW SOUTH ST. PAUL BANK.
South St. Paul’s financial institutions were increased
to three when the newly organized Live Stock State
Bank opened its doors in the O’Toole building at
Grand avenue and Concord street. The bank begins
business with a capital of $50,000 and a surplus of
$ 10,000.
F. A. Samels is president and his brother, W. A.
Samels, cashier. Mayor Fred W. Grisim, of the su
burb, and W. D. Hogan are vice presidents. The di
rectors include the officers and M. J. O’Toole, H. B.
Warren, of South St. Paul, E. T. Stafford and C. A.
Buholz, of Minneapolis.
The new quarters have been remodeled and all mod
ern fixtures have been installed at an expense of sev
eral thousand dollars.

G o l d - S t a b e c k Company

Established 1880

INVESTMENT BANKERS
Minneapolis

take pleasure in announcing the appointment of

Drake-Ballard Co.

MR. W M . E. MOHR

FARM MORTGAGES—MUNICIPAL BONDS

as Assistant Treasurer
formerly a member of the firm of

Works-Mohr Saint
Investm
ent Company
Paul

Our Service Will Please You.
Correspondence Solicited.
Minneapolis, Minnesota

October 15, 1917.

llllllllllllllllllllllllM^^

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

November, 1917

Established 1863

THE

NORTHWESTERN

BANKER

The First National Bank of St. Paul
C apital and S u rp lu s , Five M illio n D ollars
This strong, progressive bank, conducted along con
servative and modern lines, offers every facility
consistent with sound, prudent banking for the sat
isfactory handling of your Northwestern business.

R esources F ifty -S e v e n M illio n D ollars
BANK CELEBRATES FIFTIETH ANNIVER
SARY.
The Lake City Bank, of Lake City, Minn., recently
celebrated the fiftieth year since its founding, being
the oldest state bank in Minnesota.
The bank was organized in 1867 by C. W. Hackett,
who sold out in 1870 to Joel Fletcher. It was con
ducted as a private institution until 1873 when it was
incorporated under state charter with a capital of $50,000.
At the time of its incorporation as a state institu
tion Samuel Doughty was made president and con
tinued in that capacity until 1893 when he was suc
ceeded by G. F. Benson. C. A. Hubbard, who is still
president, entered its service in 1869 and shortly there
after was made cashier, which office he held until
1907 when he became president.
Associated with Mr. Hubbard as president, are: J.
M. Underwood, vice president; Wm. A. Hubbard,
cashier; M. L. Erickson, assistant cashier; John W.
Lamb, accountant, and Geo. W. Reding, clerk.

NORTHROP PEOPLES STATE BANK OPENS.
The Peoples State Bank has opened at Northrop,
Minn., with a paid-up capital of $10,000 and a surplus
of $2,000. Fred C. Snyder is president ; A. C. Becker,
vice president, and J. H. Sprague, cashier. Mr. Sprague
was formerly assistant cashier of the Fairmont Na
tional Bank.
The bank building is a structure of solid brick, two
stories in height, with fixtures of the latest and most
up-to-date design.
ST. PAUL HAS NEW BANK.
The new Metropolitan Bank has opened for busi
ness in St. Paul in the building formerly occupied by
the American National Bank. The authorized capital
is $200,000, with $100,000 paid in. The surplus is
$30,000.
C. L. Swenson, formerly cashier of the Citizens Na
tional Bank, of Albert Lea, is president; E. L. Thorn
ton, formerly secretary to Governor Burnquist, of Ben
son, is vice president; A. J. Veigel, formerly cashier of

Conflnental and Commercial National Bank
OF CHICAGO

Capital, Surplus and Undivided Profits, $34,000,000
OFFICERS
P re s id e n t
G eorge M. R e y n o ld s
H. E rs k in e S m ith . .A s s is ta n t C a sh ie r
W illia m T. B ru c k n e r.V ic e -P re s id e n t
A rth u r R e y n o ld s .........V ic e -P re sid e n t
D an N o rm a n ............. A s s is ta n t C a sh ie r
J o h n R. W a s h b u r n .. .V ic e -P re s id e n t
R a lp h V an V e c h t e n .. .V ic e -P re s id e n t
G eorge A. J a c k s o n .A s s is ta n t C a sh ie r
W ilso n W. L a m p e r t .................... C a sh ie r
Alex. R o b e rts o n .........V ic e -P re sid e n t
J o h n F . C ra d d o c k .M g r. C re d it D ept.
H a rv e y C. V e rn o n . .A s s is ta n t C a sh ier
H e rm a n W ald e c k . .. .V i c e - P r e s i d e n t
Jos. M c C u rrac h . .M gr. F o re ig n D ept.
G eorge B. S m i th .. .A s s is ta n t C a sh ier
J o h n C. C r a f t ................ V ic e -P re sid e n t
R. G. D a n ie lso n . .M g r. T r a n s it D ept.
W ilb e r H a t t e r y . . . .A s s is ta n t C a sh ier
J a m e s R. C h a p m a n .. .V ic e -P re s id e n t

Accounts of Banks, Bankers, Manufacturers, Merchants and Individuals Invited

Continental and Commercial Trust and Savings Bank
Capital, Surplus and Undivided Profits, $5,500,000
Trust, Savings and Bond Departments
OFFICERS
G eorge M. R e y n o ld s ...................................P re s id e n t
H e n ry C. O l c o tt .. . .M gr. B ond D ept.
J o h n J a y A b b o tt.........V ic e -P re sid e n t
W illia m P. K o p f ................... S e c re ta ry
R o b e rt J. H e r c o c k .. . . .A ss’t C a sh ie r
A rth u r R e y n o ld s .........V ic e -P re sid e n t
E d m u n d J. C la u s s e n .A s s ’t S e c re ta ry
A lb e rt S. M a r t i n . ........... A ss’t C a sh ie r
C h a rle s C. W ills o n ....................C a sh ie r

The Capital Stock of this bank ($3.000,000) and the Capital Stock of the Hibernian Banking Association ($2,000,000) are
owned by the Stockholders of the Continental and Commercial National Bank of Chicago.

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

THE

NORTHWESTERN

BANKER

November, 1917

a commodious room arranged to accommodate small
gatherings and is open for the use of the public.
The officers of the Farmers & Merchants State Bank
arer^ A. E. Schroeder, president; W. B. Strom, vice
president; S. W. Anderson, cashier, and A. B. Dahlgren, assistant cashier.

CAPITAL AND SURPLUS
$ 10,000,000.00
DEPOSITS OVER SIXTY
MILLION DOLLARS
C orrespondence Invited
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M INNESOTA
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Mil IIIIIIIIIIIIIIM IIIim illM llllllini II III Ill7

the Commercial State Bank, of St. Paul, is cashier,
and B. R. Knauft, banker, of St. Louis, is assistant
cashier.
BANK SETTLED IN NEW HOME.
The Farmers & Merchants State Bank, of Hector,
Minn., may well be proud of its beautiful new building
which is very artistic in every detail. The base is of
pebble float concrete, the lower half of the walls are
constructed of dark buff tapestry brick and the upper
half is a cream colored oriental plaster. The belt
course and lintel over the front entrance is of poly
chrome terra cotta.
The main banking room occupies the entire width of
the building. At the end of the corridor is the en
trance to the safety deposit vault with a small room
fitted up for the convenience of the patrons of the
safe deposit boxes. From this room a door leads to

SCANDINAVIAN-AMERICAN, MINNEAPOLIS,
CHANGES NAME.
Stockholders of the Scandinavian-American Nation
al Bank, of Minneapolis, Minn., at a special meeting to
be held November 13th, will vote on the proposition to
change the name of the bank to the Northern National
Bank. The directors have unanimously adopted a reso
lution and it is fully expected that there will be no
opposition on the part of the stockholders.
Edgar L. Mattson, vice president of the bank, says:
“There has been an increasing desire for some time
on the part of the bank’s patrons for a shorter name
and that selected is believed to be broad enough to
express geographically the activities of the institution.
The Ninth Federal Reserve banking district is com
prised of northern states. The people living therein
are known as the people of the North, therefore we
consider it peculiarly fitting that we name our bank for
this section of the country.”
The Scandinavian-American National Bank was or
ganized in 1909 and has had a rapid growth, having
deposits at the present time of over $14,000,000, cap
ital of $1,000,000 and a surplus and undivided profits
of more than $400,000. In the autumn of 1914 it was
consolidated with the National City Bank, which ma
terially widened its scope.
The officers are : H. R. Lyon, president; A. Ueland,
Edgar L. Mattson, George F. Orde, Charles B. Mills,
vice presidents; E. V. Bloomquist, cashier; A. E. Lindhjem, Trygve Oas and W. R. Murray, assistant cash
iers.
MINNEAPOLIS STATE BANK.
The board of directors of the Minneapolis State
Bank, of Minneapolis, Minn., has voted unanimously
to recommend to the stockholders that at the annual
meeting, January 1, 1918, the capital stock of the bank
be increased from $50,000 to $100,000. This action was
taken to bring the capitalization of the bank into
proper relation with its deposits which have grown to
exceed $1,000,000 as a result of the development of the
Lake street district.

Bank For Sale

War Stamp Tax

Western North Dakota town of 200;
capital $10,000, deposits around $100,000. This bank is located in a good
farm loan community and can be
bought at around $40 over book value.
Our number, 23761.

CANCELLORS
JUNIOR No. 0 BAND DATER

The Only Band Dater Small Enough
To Cancel Revenue Stamps

BUSINESS SERVICE CO.
Banking Department
MINNEAPOLIS

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

PRICE
Complete v -I-

1st MT. BK.
JUL. 16,1917

FAR.&MER.BK.
JUL. 16,1917

Le Mars, la.

Cedar Rapids, la.

ST. PAUL STAMP WORKS
ESTABLISHED 1870

ST. PAUL, MINN.

THE

November, 1917

NORTHWESTERN

BANKER

“ The Bank That Service Built

T h e Seaboard
National Bank
OF THE CITY OF NEW YORK
W e a llo w in te r e s t on bankers? b a la n c e s, a n d p a y d r a f t s w h e n p ro p e rly p re se n te d . O ur c o m p e tito rs do lik e w is e ; h o w
ever, th e “PE R SO N A L SE R V IC E E L E M E N T ” is a d is tin c tiv e fe a tu re w ith T h e S e a b o a rd N a tio n a l B a n k .
["Efficiency
1 C onvenience
l A v a ila b ility
a n d e v e ry p h a se of b u sin e ss th k t p ro m o te s h e lp fu l an d m utu a lly c o rd ia l re la tio n s.
C. C.
C. O. THOM PSON, V ice P re s id e n t
S. G. BAYNE, P re s id e n t
J. D.
B. L. GILL, -Vice P re sid e n t"
tt m * noN O V A N C a sh ier
B. I.
W.
K. C L E V E R L E Y , V ice P re s id e n t
w * UUJNu v a n , L a s tn e r
J. E.
L. N. DEVAUSNEY. V ice P re s id e n t
O. M. JE F F E R D S , A s s is ta n t C a sh ier
A SE R V IC E IN CO RPO RA TIN G

W. E. HOLT ELECTED ASSISTANT CASHIER.
Walter E. Holt has been elected assistant cashier
of the State Deposit Bank, of Minneapolis, to succeed
Theodore W. Freeman, who has been appointed first
lieutenant in the United States artillery. Mr. Holt was
bprn in St. Paul and has been employed by the Metro
politan National Bank and the Federal Reserve Bank.
H. D. Mackall was elected a director, succeeding
Burt F. Lum. Two of the directors, F. J. Hannah and
George R. Miller, have gone to join the armies of the
United, States and Great Britain, but will retain their
positions upon the board.
C. L. BENSEN ELECTED VICE PRESIDENT.
Carl O. Bensen, cashier of the Merchants National
Bank, of St. Cloud, Minn., has been elected vice presi
dent of the institution at the meeting of the board of
directors held recently. Mr. Bensen succeeds his
father, the late John N. Bensen.
George Moore, who has been assistant cashier, was
elected cashier and also a director of the bank.
CONTINENTAL STATE BANK CHARTERED.
The Continental State Bank, of Minneapolis, Minn;,
soon to open on Marquette avenue, between Sixth and
Seventh streets, has been chartered by F. E. Pearson,
state superintendent of banks.
-The new bank has $100,000 capital and $25,000 sur
plus. E. K. Strathy is president and J. F. Zeidler is
cash,ier. He has been cashier of the University State
Bank in Minneapolis.

| BANKS BOUGHT and SOLD j
C onfidentially on C om m ission

I-

JACOB BACKER, BANK BROKER
405 P io n e e r B ld g .

ST. PAUL,
IiililiiiiiiiiiiiniiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiifpiM

MINN.

F IS H E R , A s s is ta n t C a sh ie r
SM ITH , A s s is ta n t C a sh ie r
DADSON. A s s is ta n t C a sh ier
ORR, A s s is ta n t C a sh ier

MANY NEW BANKS IN MINNESOTA.
That Minnesota is on the crest of a wave of pros
perity may be indicated by the number of new banks
being organized in the state. F.' E. Pearson, state
superintendent of banks, states that of 1,098 state
banks now active, sixty-one have been chartered since
January 1st, and applications are pending for charters
for forty additional state banks.
NORTHWESTERN NATIONAL BANK.
.For the first time in the history of the bank the de
posits of the Northwestern National Bank, of Minne
apolis, have passed the $50,000,000 mark. During the
past ten years the deposits have been as follows : 1907,
$13,780,000; 1912, $31,347,000; 1913, $30,054,000; 1914,
$34,148,000; 1915, $40,089,000; 1916, $47,256,000; 1917,
$50,160,000.
“The growth of our business,” says Mr. Decker,
president, “is an excellent indication of the growth of
the city and the general prosperity of the country.”
The total resources of the Northwestern National
Bank and the Minnesota Loan & Trust Company with
which it is affiliated, now exceeds $65,000,000.
MINNESOTA NEWS AND NOTES.
O. L. Nelson, recently paying teller in the Capital
National Bank,*St. Paul, Minn., has accepted a position
in the. Morris National Bank, of Morris, Minn., as
assistant cashier.
The Hutchinson State Bank, Hutchinson, Minn.,
a newly organized bank, will open for business soon.

Here is a Plan to Get New Accounts
Present a Webster’s Unabridged Diction
ary to each country school in your territory.
It will prove the best advertisement you
have ever used.
The work is the original, authentic Inter
national Edition, is printed on the best pa
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2,400 pages, full standard size, 8^x11 inches.
Write for Special Wholesale Prices and Our Unique
Advertising Plan.

S h erlock A gen cy
Des Moines

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Federal Reserve Bank of St. Louis

706 Youngerman Bldg.
-

Iowa

THE

NORTHWESTERN

BANKER

November, 1917

The Men W ho Stay at Home

In a re c e n t issu e of th e S a tu rd a y E v e n in g
P o st, Mr. J. H. T reg o e , s e c re ta ry a n d t r e a s
u re r of th e N a tio n a l A sso c ia tio n of C re d it
Men, sa id : “W e c a n n o t h a v e b u sin e ss as
u s u a l u n d e r u n u s u a l co n d itio n s. W h a t w e
m u s t s triv e fo r is so u n d e r a n d b e tte r b u s i
ness, w h ic h m ea n s t h a t w a s te is to be e lim
in a te d ; t h a t r e s u lts a re t o b e r e a c h e d b y
m o re d ir e c t m e th o d s.”
I n s t a ll t h e “D IR E C T R O U T E ” L e d g e r .

must shoulder the load of those answering conscription’s call. They face
more work and greater effort to keep your business efficient.
Every method that makes them more productive is worth serious con
sideration.
One of these is the KIRTLEY VISIBLE ACCOUNT LEDGER—the
greatest improvement over the common loose-leaf ledger ever devised.
It saves at least one-third of the bookkeeper’s time, allowing him to take
on extra work. It is used in hundreds of hanks and giving excellent
service.
Adapted to depositors’ ledgers (pen and posting machine), liability
ledgers, savings ledgers and index to names.
Write for information to

Hammond Printing Co. M, E , 1 E ! ES

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M ONTANA

aiiiiiiiriniiHiiiiiiiHiinimiiHiiiiiiinHiiiiiininiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiimiiiiimiiiiiiiHiiiiiDHiiiiiiiiHiiniiiiiiiiiiiiiiHiiiniiiiiiiiiiiiiuiiiHiiniiiiimiimiin iiiiwiig

B A N K ER S FROM MONTANA WHO A T T EN D ED
AM ERICAN B A N K ER S CONVENTION AT
A T LA N T IC C IT Y .

THE

*Allen, O. W., Cash. American Bank and Trust Company,
Billings; Breakers.
*Toble, A. N., Asst. Cash. Conrad National Bank, and wife,
Kalispell; Breakers.
*Trimble, Sam E., Vice Pres. Union National Bank, Springfield ; Marlborough-Blenheim.
♦Delegate.

NEW A. B. A. MEMBERS.
The following Montana banks have recently joined
the American Bankers Association: Bowdoin State
Bank, Bowdoin; Farmers State Bank, Brady; First
National Bank, Brady; East Helena State Bank, East
Helena; State Bank of Flaxville, Flaxville; American
National Bank, Forsyth; Galata State Bank, Galata;
First National Bank, Nashua; Square Butte State
Bank, Square Butte; Turner State Bank, Turner.
DEPOSITS CONTINUALLY INCREASING.
The Security Trust & Savings Bank, of Billings,
Mont., according to their last statement, had deposits
of $556,339.95. The capital stock is $100,000 and the
undivided profits are $20,813.23.
W. E. Waldron is president; Harry F. Scott, vice
president, and W. B. Vaughan, assistant cashier.

W. H. ROTHS ELECTED CASHIER.
W. H. Roths, who was born and raised in Iowa, has
made a great success of banking in the state of Mon
tana. He first became associated with the Sheridan
County State Bank, of Plentywood, as assistant cash
MONTANA NEWS AND NOTES.
ier, where he gained his first practical banking experi
Vice President H. S. Woodward, of the First Na
ence. He then became assistant cashier and auditor
of the Yellowstone Valley Bank & Trust Company, of tional Bank, Hobson, Mont., was recently called to
Sidney, and recently has become cashier of the Pioneer Minneapolis by the sudden death of his father, A. M.
Woodward, a banker of that city.
State Bank, of Glentana.
Mr. Roths has made a splendid advance in the bank
The Billings Stock Exchange, Billings, Mont., was
ing field during the short time he has been engaged incorporated recently with a capital stock of $200,000.
in that line of work»
The Montana National Bank, of Havre, Mont., has
been
chartered with a capital of $50,000.
NEW BUILDING FOR TOWNSEND BANK.
The
First National Bank, of Froid, Mont., has opened
The State Bank, of Townsend, Mont., has a beautiful
new home which is patterned after the Ionic order of for business with George Anderson as cashier.
architecture. Montana granite, Bedford, Ind., lime
A charter has been issued to the First National
stone and brown brick are used on the exterior. The Bank, of Raymond, Mont. The bank is capitalized at
interior is very elaborately finished and furnished. •; $25,000.
The officers are: J. P. Kearns, president; Jeff Dogf*
O.
W. Tweed, cashier of the Benchland State Bank,
£ett, vice president; P. H. Murphy, cashier, and J. Wi
Benchland, Mont., has sold his interest to U. F. Stan'Seibold, assistant cashier.
ard, assistant cashier of the Fergus County State
Bank, of Hobson.
SEED WHEAT SUPPLY SUFFICIENT.
I Seed wheat supply, according to the bulletin issued
A new bank is being organized at Conrad, Mont.
by the American Bank & Trust Company, of Great J. M. Ryan and R. P. Reckards, of Great Falls, are the
Falls, will be sufficient for all needs in Montana and organizers.
of the last year’s crop which is claimed to be better
A charter has been issued to the First National
for germinating results. A census recently taken in Bank,
Cascade county disclosed many thousands of bushels $25,000.of Dodson, Mont. The bank is capitalized at
ready for those needing i t ., The price,'necessarily, will
The Richey State Bank, Richey, Mont., has been in
jbe determined by conditions, though it probably will
be around three dollars. Banks have assumed the at- corporated with a capital of $20,000. The officers are:
jtitude of being ready toffielp those entitled to the help. T. F. Hagan, president; August Ritz and M. J. Hughes,

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

THE

, 1917

NORTHWESTERN

BANKER

urn yo u r back a n d close y o u r eyes”
Come to our store, forget you are in a store,
turn your back, close your eyes, and when
Margaret Matzenauer’s glorious voice, liter
ally re-created, tone for tone, shade for shade,
pours forth from the New Edison, you will
feel her very presence in the room.

w The Phonograph With a Soul ”
has been tested by direct comparison
with its Re-Creation of the voices of
Margaret Matzenauer, Marie Rappold,
Anna Case, Marie Sundelius, Julia Hein
rich, Christine Miller, Giovanni Zenatello, Edoardo Ferrari-Fontano, Guido
Ciccolini, Jacques Urlus, Otto Goritz, and

twenty other great artists. Half a million
people have heard these astounding tests
and were positively unable to tell apart the
singer’s living voice and the new instru
ment’s Re-Creation of it. These remark
able tests are chronicled in five hundred
of America’s principal newspapers.

' NOTICE—Please do not ask us to sell you Edison Re-Creations if you intend to attempt
to play them on any other instrument than the New Edison. No other instrument can
bring out the true musical quality of Edison Re-Creations. Furthermore, injury to th<t
records is likely to result if you attempt to play them on an ordinary phonograph or talk«
ing machine.

Harger & B lish, Inc.
“ 30 Years in the "Music Business“
D es M o in es

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Federal Reserve Bank of St. Louis

S io u x C ity

T H E N O R T H W E S TTÈ'R N B A N K E R

November, 1917

C hristm as Greetings

■
' ¡'
Beautifully steel engraved cards and folders with your firm or bank name
engraved on same plate. A big portfolio, showing many styles and $izes
sent on request. We .pay postage on it, both ways.
.

O R D E R N O W F O R D E L IV E R Y
ON D E C E M B E R FIR ST

Buxton & Skinner Printing and Stationery Co.
FOURTH

STREET

M ONTANA
vice presidents; R. P. Foley, cashier, and F. H. Ravet,
assistant cashier.
S. C. Hawks has sold his interest in the Commercial
Bank & Trust Company, Big Timber, Mont., to A. H.
Arneson, Oscar Hepstad, L. R. Peek, J. E. Roecher,

NEAR

OLIVE-SAINT

LOUIS,

MO.

L. V. DeClercq and A. C. Johnson, the latterj being
vice president of the American National Bank, Helena.
M. Schaeffer has been advanced from the cashiership of the Bank of FairvieW, Mont., to vice president,
succeeding A. M. Gardner resigned. The cashiership
has been filled by the promotion of Assistant Cashier
F. W. Adams.
M. D. Eckley has resigned as assistant cashier of
the First State Bank, of Windham, Mont., to become
cashier of the First National Bank, Grass Range,!1Mont.
Alex Van Dyken has been elected assistant Cashier
of the Belgrade State Bank, Belgrade, Mont., succeed
ing Charles A. Roerup, who has become cashier of the
Musselshell State Bank.
Jay Loving has resigned his position as cashier of
the Scandianvian American Bank, Big Timber, Mont.
A. V. Mclvor, of Hyannis, Neb., has been appointed
to the vacancy.

The New
Federal Taxes
They touch nearly everybody.
We have a booklet, just off the press,
that will tell you, in concise, plain
terms, just what you will have to pay.
A sk for a C om plim entary C opy

EDUCATION THROUGH ADVERTISING.
(Continued from page 27.)
financial advertising tells no story ; .carries no message ;
creates no desire. Pick up any^of-'the financial maga
zines and look over thé advertising pages. Names,
more names and figures; the little subject matter dis
played might be transposed from one to another in

NORTHWESTERN STAMP WORKS
ST. PAUL, MINN.
Rubber Stamps of Every Description

BOND D EPA R TM EN T

The Minnesota Loan
and Trust Company
405 Marquette A ven u e

M inneapolis, Minn.

Affiliated with the Northwestern National Bank
Branch Office, Great Falls, Montana

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

Other Specialties

Seals
C heck Protectors
r K ey C hecks
Identification C hecks

D esk Plates
Signs j *
Pads
j
Inks

and in fact anything in the stam p line;

November, 1917

THE

NORTHWESTERN

three out of four ads without profit or loss to either,
and its truth in no way impaired.
Contrast such advertising with that which sells
goods, markets products, brings forth demand; adver
tising which must stand the acid test of profitable
returns or go into the discard. Such copy must make
good. Into it go the best brains available and money
is spared neither in its preparation nor its production.
The keenest business men in the country prove that
it pays. Financial advertising, though improving,
scarcely measures up to that done by other lines of

BANKER

business. The reason is this: Banks have adver
tised persistently from their own standpoint, ignoring
that of the prospect whose business was sought.
The aim of all advertising is primarily to gain at
tention ; to secure action; sell goods; to get business;
stripped of all formalities—an investment of money
to make more money.
A tremendous increase in the volume of advertising
admits no argument as to its power. Today our food,
our clothes, shoes, collars, hats and hose are sold through
advertising.

“ THE TALISMAN”—

a new photoplay for the use of bankers
A new motion picture, “The Talisman,” is now ready for distribution among
bankers to aid them in increasing their “A.B.A.” Cheque sales. We consider
it even superior to the previous film. It is artistic, authentic and interesting.
Banks report that the showing of these photoplays brings many people in to
inquire about “A.B.A.” Cheques and to buy them. They also report that the
showings have proved good publicity for the general business of the bank.
“The Talisman” narrates the adventures of two parties of travelers, one “Seeing
America First”; the other going to the Orient via South America and Hawaii.
Many humorous incidents occur as the plot unfolds.
If you have not received booklet containing a complete
description o f these two films, with comments from
many banks that have showed them, write for a copy•

Ba n k ers T ru st Co m pan y
New York

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

THE

NORTHWESTERN

O n In a c tiv e
7 0 Bank Balances

flSouth D a k o ta b a n k e r s b y th e sc o re a re re c o g
n iz in g th e a d v a n ta g e s o f o p e n in g a n a c c o u n t
w ith th e S e c u rity T r u s t & S a v in g s B a n k .
IW e a re e n jo y in g th e m o st r a p id s te a d y g ro w th
in th e h is to r y o f S o u th D a k o ta b a n k in g —o p en ed
fo r b u s in e s s N o v em b er 4, 1915— re s o u rc e s now
o v e r $700,000.

BANKER

November, 1917

cashier. The directors are: Geo. K. Burt, A. J. Lock
hart, H. D. Walrath, A. P. Foley, F. B. Stiles, A. H.
Hasche and H. P. Andrison.
The company is incorporated with a capital stock
of $100,000. The field covered is a wide one. The
bank may be appointed under court order as adminis
trator, trustee or receiver, will invest in municipal,
county, township and school bonds, and will make
loans on notes, mortgages, and real estate. It operates
under the state banking law.

BANKERS MEET AT WAKONDA, S. D.
Practically all of the bankers within a radius of
thirty miles met at Wakonda, South Dakota, for the
fiThere is a re a s o n : T h re e p e r c e n t on in a c tiv e
purpose of getting acquainted, discussing interest rates
b a n k b a la n c e s; sc ru p u lo u s, c a re fu l p e rs o n a l a t
and other important matters. R. A. Goodwin, vice
te n tio n ; c o u rte s y a lw a y s ; u n u s u a l p ro m p tn e ss ;
a ll b a c k e d b y a n a g g re s s iv e p o lic y w h ic h em
president of the Wakonda State Bank, presided. He
b o d ies a s lib e ra l tr e a tm e n t a s is c o n s is te n t w ith
is vitally interested in reviving county and group or
so u n d b a n k in g . D e p o sits g u a ra n te e d .
ganizations in that section of the state and in making
ITWe b e lie v e th e e x tr a se rv ic e w e offer w ill a p
them more profitable from the country bankers’ stand
p e a l to y o u a s it does to sc o re s o f o th e r S o u th
point. He said in p art:
D a k o ta b a n k e rs . C o rre sp o n d en c e o r a p e rso n a l
in te rv ie w in v ite d .
“I think the most of us bear the same relation to our
county and group organizations as we did to the world
war up to a very short time ago. We all know there
CAPITAL . . . . $100,000.00
are such organizations but the thought never occurs
to us that we should take an active part in the work.
We should get out of our little circles occasionally and
&
discuss our problems with our neighbors, it would help
us a great deal I am sure. Then the social benefit
FALLS
which we derive from such meetings is very valuable
to us. Probably if we would get together occasionally
at meetings of this kind and get better acquainted we
would find that our competitor who runs a bank in a
neighboring town is not such a bad fellow as we had
thought he was. We hear very favorable reports of
county and group meetings of some of the other states,
and I cannot see why we are not entitled to some of
the benefit these organizations are capable of giving
as well as other bankers. I have made it a rule to
attend every bankers’ meeting and convention I pos
B A N K ER S FROM SOUTH DAKOTA WHO A T T EN D ED T H E
sibly could the past nine years, and as a result, I have
AM ERICAN B A N K ER S CONVENTION AT
a personal acquaintance of about 300 bankers in this
A T L A N T IC C IT Y .
*Darling, A. B., Vice Pres, and Sec’y Western National Bank, and our neighboring states. I find a wide acquaintance
South Dakota Bankers Association, Mitchell; Marlbor- is valuable to a country banker in many ways.
ough-Blenheim.
“Our group meetings should be conducted more on
*Devers, J. R., Director Sioux Falls Savings Bank, Sioux the order of this meeting. Of course we usually hear
Falls; Traymore.
♦Franklin, N. E., Pres. Bear Butte Valley Bank, and wife, some very splendid addresses through the kindness
Sturgis; Marlborough-Blenheim.
of our city brothers, and I can state from a personal
♦Haskell, Albert M., Cash. First National Bank of Carthage, standpoint that I have never attended a group meet
Carthage; Haddon Hall.
♦Hopkins, H. L C a s h . Security Bank, Clark; Marlborough- ing from which I have not derived some benefit, but
if we wish to get the ideas of our city bankers we
Blenheim.
♦Lambertson, J. B., Director Sioux Falls Savings Bank, Sioux should read our bank magazines, they are filled with
Falls; Traymore.
splendid articles. If we expect to serve our customers
♦Munson, E. W., Vice Pres. Minnehaha National Bank, Sioux
efficiently in this day and age of rapid strides in the
Falls; Marlborough-Blenheim.
♦Ontjes, William, Pres. Sioux Falls Savings Bank, and wife, improvement of business methods we must keep well
Sioux Falls; Traymore.
informed as to matters relative to banking and finance,
♦J. E. Platt, Pres. Security Bank, Clark; Marlborough-Blen- but how many of the ideas which we get from the
heim.
♦Wadden, John W., Pres. Lake County National Bank, and addresses delivered at our regular group, meetings
do we put into use? The ideas which are valuable to
wife, Madison; Breakers.
♦Delegate.
us are those we thresh out ourselves in which we take
into consideration our local conditions. For this rea
WATERTOWN HAS NEW BANK.
son I think we are not getting what we should from
our
group meetings and we should hold meetings of
About January first, Watertown, South Dakota, will
have a new bank known as the Trust and Savings this kind more often.”
Bank. H. D. Walrath is president; A. J. Lockhart,
Roy Finnegan has accepted a position in the First
of Clear Lake, is vice president; H. P. Andrison, of
Clarkfield, Minn., vice president, and Geo. K. Burt, National Bank, Yankton, S. D.

SECURITY TRUST
SAVINGS BANK

SOUTH DAKOTA

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

THE

November, 1917

NORTHWESTERN

BANKER

Christm as Greetings
For Banks, Individuals or firms, beautifully steel engraved cards
and folders—your name engraved or printed. If you want greetings of
character and distinction—greetings that are different—send for samples.
O rder N ow For Delivery in December

K o ch B r o th e r s , In c.
Place Orders Early, Thereby Preventing Possible Disappointments.

Printers, Stationers, Binders
317-319-321 Locust St.
Des Moines. Iowa

LARGE BANK DEPOSITS.
The Security National Bank, of Sioux Falls, South
Dakota, has deposits of $5,051,679.14, which is a new
high mark for South Dakota banks. The officials of
the bank, in discussing the situation, expressed the
opinion that while the usual fall and winter liquida
tions will no doubt cause bank deposits to recede from
their present high point, it may be expected that
money will be plentiful in South Dakota for some
time.
In two years’ time the bank deposits have increased
$2,700,000, a net gain of almost one-third. Sioux
Falls bank clearings have also greatly increased, and
from present indications, there will be a raise of over
$30,000 this year over last.

NEW BANK ORGANIZED.
Articles of incorporation have been filed for the
First Trust & Savings Bank, of Watertown, South
Dakota. The new institution is capitalized at $100,000. The incorporators are: Geo. K. Burt, of South
Shore; A. J. Lockhart, of Clear Lake; H. P. Andrisen,
of Clarkfield, Minn.; H. D. Walrath, A. P. Foley,
H. H. Fahnestock, F. B. Stiles and A. N. Hasche.
The officers are: H. D. Walrath, president; A. J
Lockhart, vice president; H. O. Andrisen, vice presi
dent, and George K. Burt, cashier.
STUDENT LOAN FUND CREATED.
The banks of Aberdeen, South Dakota, acting col
lectively through the Aberdeen Clearing House Asso-

The Value of the

ST. PAUL CATTLE LOAN CO.
To Your Community
jiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiHiiiiiiiiiniiiimiiiiiiiiiiiiiiiHiiiiiiiiiiiiiiiiiiiulHiHiiiiiiiiiiiiimmiiiiiiiiiiMiniiitiiHiiiitiuiiiiiiiiuiiinMilfiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiraiiiiiiiiiiHiiiiiiiiiiiiiiiiiiiiitiiiiiiiiiaiiiiiiiiiiiiiiiiiitiij

W e help promote the Live Stock Industry. (
W e offer attractive terms to bankers desir- I
! ing to build up this class of business.
^IIIIIMIIIIIIHIIHIfllllMIIIIHMNIIIIIIIIIIIIHHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIIIIII.UimillllllUIKIIIIIIIIIIIIIIIIIIIIIIIIIItllllllllHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIUIIIIIItlllllllllllltltllllllllllllllllllllllllllllllllimilllllllllllimillllllllllllllllllllliT

Correspondence Solicited.

St. Paul Cattle Loan Co.
UNION STOCK YARDS
J. J. FLANAGAN, President
J. S. BANGS, Vice President

SO. ST. PAUL, MINN.

A. G. SAM, Treasurer

Affiliated with Stock Yards National Bank

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

JAY E. MARKLE, Secretary
F. A. BIRCH, Asst. Sec’y

THE

NORTHWESTERN

SIOUX FALLS
NATIONAL BANK
S I O U X FALLS, S. DAK.
E s t a b lis h e d - - - 1882
S io u x F a lls ' O ld e s t B a n k

^Successfully conducted for more than a
third of a century under one competent
and CONTINUOUS management.

SOUTH DAKOTA
I llllllllllllllllllllllllllllllllllllllllllllllllljlllllllllilllllllllillllllllllllllllllllllllllllllllllllH IIIM IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIM

ciation, have created a fund of $1,000 to be used as
exigencies may arise in making small loans to students
of the Normal. This generous action taken unani
mously by all the banks of the city, is another evi
dence of their splendid co-operation to aid in worthy
undertakings.
The following regulations are announced by the
president of the school for obtaining loans from this
fund:
1. No student shall receive a loan of more than
$100 in one year or a total at one time of more than
$ 200.

2. To obtain a loan the student must present a
letter of recommendation from a banker in his home
.town.
3. The loan shall be guaranteed by the president
■pf the Northern Normal and Industrial School, who
may require the guarantee of the parent or guardian
of the student.
4. All loans shall bear 4 per cent interest while
the student is attending school, and 6 per cent there
after until maturity.
Blanks for makitig application for a loan may be
obtained from the president of the school.
REDFIELD NATIONAL BANK FLOURISHES.
At the time of the last statement, the deposits of the
Redfield National Bank, of Redfield, South Dakota,
amount to $1,022,310.00, and this is the first institu
tion in the county to attain such a splendid showing.
Z. A. Crain, president of the bank, says: “Twentyfive years ago no one dared to think of a bank in Red-

WE MAKE RUBBER STAMPS
O u r n e w catalo gu e g iv e s su gge stio n s
for stam ps ; s to w s typ é fa ce s , sup
plies, e tc .
A s k for c a talo gu e H .

F. P. HOLLAR & SON

sioux city Commercial P rinting

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

iowa

BANKER

November, 1917

DAKOTA TRUST & SAVINGS BANK
Sioux Falls, South Dakota
CAPITAL AND SURPLUS

$106,000.00

Accounts of Banks and Bankers Solic
ited on Reasonable Terms.
Deposits Guaranteed.
Prompt Service.
O F F IC E R S

N. O. MONSERUD, President
V. H. MASTERS, Cashier

O. A. HAYWARD, Vice-Pres.
TORE TEIGEN, Vice-Pres.

field having on deposit a million dollars. Then we
did not think in terms of millions, nor even thousands ;
we hardly thought in terms of hundreds. These
twenty-five years have brought many changes. Then
good farming land could have been bought at from
three to five dollars an acre. Now choice farms with
good improvements are thought to be worth from
seventy-five to more than one hundred dollars an
acre. Then there were only three banks in Spink
county with total deposits of less than one hundred
fifty thousand dollars. Now there are twenty with
aggregate deposits of about five millions. The growth
and development of South Dakota during the last
twenty-five years have been truly wonderful, and the
growth during the next twenty-five years will show
even greater changes.”
SOUTH DAKOTA NEWS AND NOTES.
Ben Nash, of Montrose, has accepted a position
in the Valley State Bank, Lake Andes, S. D.
The Dakota National Bank, Aberdeen, S. D., moved
into its new building recently, purchased last winter
from the Dakota Central Telephone Company, and re
modeled.
Articles of incorporation have been filed for the or
ganization of the Ree Valley Bank, of Orient, S. D.
August Schaefers, C. M. Weiblen, P. jl Dunn and F.
E. Saltmarsh, of Miller, are among those interested
in the new enterprise, in addition to a large number
of influential farmers living in the vicinity of Orient.
C. A. Fountain will have charge of the bank at Capa,
S. D., N. P. Wenge having resigned.
The Trent State Bank building, Trent, S. D., is
nearing completion. This will be one of the finest
structures in Trent when completed.
The two banks doing business in Iroquois, S. D.,
have aggregate deposits of $711,913.80, this breaking
all records in the history of Iroquois.
The First National Bank, Woonsocket, S. D., putf-

I AM WORTH $ $ TO YOU

to m er s in Iow a A lon e.

F o r a s h o r t tim e o n ly w e w i l l g i v e y o u A b s o lu te ly
F R E E o n e g a llo n o f A L L B R IT E F U R N IT U R E P O L ISH
w it h e v e r y g a llo n o f P o lis h y o n o rd er w it h t h is ad.
U S E T H E MAGIC A L L B R 1T E P IA N O , A U TO M O BILE
A N D F U R N IT U R E P O L ISH
P r ic e o f A lltorite F u r n itu r e P o lis h , $2.00 p er G a llo n
R em em b e r One G a llo n F R E E w it h e a c h G a llo n o rd ered

ia.

ALIBRITE MF6. CO., Inc.

November, 1917

THE

NORTHWESTERN

chased of J. E. Whiting recently the building and lot
adjoining the place of business belonging to the bank.
It is the intention of the bank to erect on the two lots
a modern two-story building having a frontage of fifty
feet and a depth of 100 feet.
Clark Elmore has accepted a position in the Sioux
Falls Savings Bank, Sioux Falls, S. D.
The Bank of Bovee, S. D., on the fifth day after
opening its doors for business had deposits of $12,000.
SEED

CORN SHO U LD

BE STORED

American
Bank Fixtures

NOW.

According to Dr. A. N. Hume, agronomist at the
South Dakota State College, now is the time for farm
ers to ¿tore their own seed corn for the coming corn
crop of South Dakota. He says:
“A very good plan and a safe one is to go out into
the corn field and rescue a lot of good seed corn ears
from the general crop. These selected ears may thus
be taken from the hardiest, most vigorous stalks in the
field and tied together by the husks and hung against
the sunny side of the building. They also may be put
on a regular seed corn drier and hung in a dry attic,
or under a shed roof where there is good circulation
of air, or perhaps stored on a commercial scale in a
regular seed corn house. There are many good places
to store seed corn. The main danger is that the* pres
sure of work on the farm will cause us to neglect to
make use of any of them. This year of all years we
should not forget the relation of coming corn crops
to the food supply of the nation and the prosperity of
South Dakota. Especially remember that next year’s
crop depends in a considerable part upon the amount
and quality of corn picked for seed.”

BANKER

Are Being Adopted
W herever Good Banking Equipm ent
is Demanded
We Have a Service—a Character
of Product and an Ability to Satisfy of which no
other Firm in America can Boast

W r ite us N O W !

m e r ic a n

ix t u r e

KANSAS CITY, MO.

When N orthw estern bankers send their

MINNEAPOLIS GRAIN DRAFTS
direct to this city for collection, they save at least
twenty-four hours in final payment.
When they send them to th is
get quickest and
best service that forty-five years’
experience and a constant watch
fulness have been able to devise.
h an k , they

N orth w estern N ation al Bank
MINNEAPOLIS, MINNESOTA

Resources

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

$57,800,000

C o.

THE

NORTHWESTERN

NORTH DAKO TA
lilllllllllllllllllllM IIIIIIIIIIIIIIIIIIIIIIIIIIIIIM H IM illllllllH IIIIIIIIIIIIIIIIIIIIIlllllllllllllllllllllllllllllllllllH IIIIIIIIIIIIIIIIIIH IIIIIIIIH IIIIH It

B A N K E R S FRO M N O R T H D A K O T A W H O A T T E N D E D T H E
A M E R IC A N B A N K E R S C O N V E N T IO N A T
A T L A N T IC CITY.

♦Beckwith, H. P., Pres. Northern Savings Bank, and wife,
Fargo; Marlborough-Blenheim.
♦Belssbarth, E., Pres. First National Bank, Brinsmade; Marl
borough-Blenheim.
♦Green, C. R., Vice Pres. Farmers and Mercantile Bank, Cav
alier; Chalfonte.
♦Irish, Fred A., Vice Pres. The First National Bank, Fargo;
Marlborough-Blenheim.
♦Lee, T. Melvin, Sec’y Middlewest Trust Company, and wife,
Valley City; Chalfonte.
♦MacFadden, W. C., Sec’y North Dakota Bankers Association,
and wife, Fargo; Marlborough-Blenheim.
♦Nierling, J. J., Pres. Citizens National Bank, and wife, James
town; Chalfonte.
♦Remington, P. C., Pres. City National Bank, and wife, Bis
marck; Brighton.
♦Delegate.

BANKER

who has been in the banking business for a number of
years, is vice president; E. L. Huglen, cashier, and J. R.
Young, assistant cashier. The bank has recently moved
into a new building. Besides carrying on a regular
banking business, the bank also does real estate busi
ness on quite a large scale and is agent for the sale of
the townsite land in the city.
NEW

T. O. Chantland has resigned his position as cashier
of the Scandinavian-American Bank, of Grafton, N. D.,
and has become associated with the Farmers & Mer
chants Bank, at Leeds. T. J. Hagen, of Grand Forks,
succeeds Mr. Chantland. Mr. Hagen has resided in
Grand Forks for more than thirty years and for the
past three years has been cashier of the Citizens State
Bank, of Sharon.

BANKS CHARTERED.

Charters have been granted to two new North Da
kota banks: The Farmers State Bank, of Dunseith,
with $15,000 capital, is incorporated by G. E. Wagner,
Dunseith; G. I. Dobbin and L. M. Dobbin, Overly,
and the Farmers State Bank, of Kulm, with a capital
of $30,000 is incorporated by E. A. Bowman, Ernest
Schneider and Frank G. Hildebrand.
Bank changes include an increase in the capital of
the Bismarck Bank, from $50,000 to $65,000, and the
name of the Minot Farmers Bank has been changed
to the First Farmers Bank.
NEW

T . O . C H A N T L A N D R E S IG N S .

November, 1917

P R E S ID E N T E L E C T E D .

At the fourteenth annual meeting of the Farmers
& Merchants Bank, of K;ensal, N. D., R. Clendenning,
of Fargo; Oscar Zimmerman, of Jamestown, and O.
B. Christopherson, of Kensal, became stockholders in
the institution and the following officers were elected:
R. Clendenning, president; Gustave Guenther and O.
B. Christopherson, vice presidents, and F. L. Nichols,
cashier.
These officers compose the board of directors.

G U A R A N T Y D E P O S IT F U N D .

B IS M A R C K B A N K IN C R E A S E S C A P IT A L .

North Dakota’s first guaranty deposit fund, which
is expected to become available January 1st, will total
$14,674.50, according to an estimate made by State
Examiner J. R. Waters. That amount, it is believed,
will be sufficient to meet any demand which will be
made on the fund for the reimbursement of depositors
in any one year.
Mr. Waters says: “The more familiar I become with
this guaranty act, the better I like it. It seems to ab
solutely safeguard the interests of the depositors, and
at the same time it places no burden to speak of on
the banks. The state guaranty law is nothing more
than an economical form of mutual insurance.”

The Bismarck Bank, of Bismarck, N. D., has in
creased its capital stock from $50,000 to $65,000, and
the surplus fund has also been increased from. $20,000
to $29,000. These increased funds make the institu
tion the second banking house in Bismarck and fourth
among banks organized under the laws of North Da
kota in point of working capital.
The Bismarck Bank was organized in 1891 with a
capital of $30,000, which was increased to $50,000 in
1911. Hon. T. C. Power, one of the first to represent
the state of Montana in the United States Senate, and
long prominent in the financial circles of the North
west, has been president since the organization of the
bank. Isaac P. Baker, a resident of Bismarck since
1880, and first cashier, has been vice president for the
past twenty years. Geo. H. Russ, Jr., recently com
missioned captain in the officers’ reserve corps, is sec
ond vice president. He was recently succeeded by
E. M. Thompson as cashier.

GRENORA BANKS PRO SPER.

The Citizens State Bank, of Grenora, N. D., which
was established in July, 1916, has a capital of $15,000
and the surplus and deposits amount to $65,000, while
the total footings are over $100,000. A. M. Eckman,
of Hendrum, Minn., is president; L. C. Repp is vice
president; C. S. Eckman, cashier, and Lars Wambheim, assistant cashier.
The State Bank, of Grenora, has capital and surplus
of $25,000* D. N. Tallman is president; W. F. Hanks,

Bank Stocks

Joseph Simmer, for
Northern State Bank,
signed his position as
the Burroughs Adding

Commercial Paper

EDWIN J. BISHOP

CERTIFIED PUBLIC ACCOUNTANT

We desire information concerning
country banks that are for sale.
TH E SIN C L A IR C O M P A N Y
S u ite 310-312

M cK night B uilding

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

M inneapolis, M inn.

six years connected with the
Grand Forks, N. D., has re
teller to accept an offer from
Machine Co.

Member of American Institute and
Minnesota Society of Accountants
A u d its—C redit In v e s tig a tio n s—S y s te m s
ST. PAUL

Globe Building

FARGO, N. D.

Fargo National Bank Building

MINNEAPOLIS

Wilmac Building

November, 1917

THE

NORTHWESTERN

BANKER

JOSEPH W AYNE, Jr., President
EVAN RANDOLPH, Vice-President
CHARLES M. ASHTON, Cashier

A. W . PICKFORD, Assistant Cashier
ALFRED BARRATT, A ss’t Cashier

The Girard National Bank
PHILADELPHIA, PA.

Capital, $2,000,000

Surplus and Profits, $5,000,000
Deposits, $65,000,000
ACCOUNTS OF BANKS A N D BANKERS SOLICITED
“T o Satisfactorily Handle Your Business, You Need a Philadelphia A ccount“

F A R M E R S L O A N B A N K O R G A N IZ E D .

N O RTH DAKOTA N EW S AND NOTES.

The Minot Farmers National Loan Association has
been organized at Minot, N. D., with a charter mem
bership of thirty farmers. The board of directors is.
composed of H. L. Herzog, Peter Berg, Ed Okins,
Harvey Wickman and S. R. Herzog. The officers are:
H. J. Herzog, president; Peter Berg, vice president,
and W. A. Peck, acting secretary-treasurer.
The company will operate in thirty townships cen
tering around Minot.

The Bismarck, N. D., district, comprising Burleigh,
McLean, Kidder, Emmons and Logan counties, with a
combined population of 73,559, will be asked to sub
scribe the equivalent of $5 per capita to absorb the
$375,000 quota of the second Liberty Loan assigned
to this territory.
The new assistant to Cashier Ness, at the Farmers
& Merchants Bank, Steele, N. D., is Arnold Herold,
from Pierz, Minh.
The name of the Minot Farmers Central Bank,
Minot, N. D., has been changed to the First Farmers
Bank of Minot.
A change was made at the First State Bank, Lin
ton, N. D., recently. Mr. Wm. Selbach, former cash
ier, resigned and A. J. Eveslage, of St. Cloud, Minn.,
has been appointed to the position. Mr. Eveslage
has been in the banking business at Dresden, N. D.,
for the past three years and comes highly recom
mended.
Henry C. Dahl, of Kenmare, has accepted a posi
tion in the Second National Bank, Minot, N. D. Mr.
Dahl was formerly connected with the Farmers &
Merchants Bank, of Kenmare.
The total deposits of the Munich, N. D., banks are
well over the $400,000 mark.

G. R . J A C O B I E N T E R T A I N S B A N K O F F I C E R S .

G. R. Jacobi, cashier of the First National Bank, of
East Grand Forks, N. D., entertained the directors and
employes of the bank at dinner recently, commemorat
ing the twenty-sixth anniversary of the establishment
of the bank and also the passing of the half million
dollar deposits mark. The deposits are now $530,000,
as compared with $53,000 twenty-six years ago.
Of the original sixteen stockholders of tne bank, the
four who are living, are: A. C. Rhinehart, John
Stephenson, W. G. Smith and William Budge.
Those present at the dinner were: J. R. Johnson,
president; J. H. McNicol, vice president; G. R. Ja
cobi, cashier; Hugh Dunlevy, George Downhan, Mar
tin Lystad, teller; Lila De Roche, bookkeeper, and
Anna Ryan, stenographer.

HE STATE BANK, of Winfield,
Kansas. A building of abso
T
lutely first-class construction through
out, with an exterior in granite, terra
cotta and tapestry brick, and banking
room incorporating every feature for
the expeditious handling of the busi
ness and the convenience of the bank’s
customers.
Designed and built by the Weary
and Alford Company under the sep
arate contract system.

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

THE

NORTHWESTERN

BANKER

November, 1917

NEW HOME FOR PITTSBURG, KAN.,
BANK.

The First State Bank, of Pittsburg, Kan.,
has a beautiful new home which is now in pro
cess of erection by Hoggson Brothers, the
New York and Chicago builders. The archi
tectural treatment of the edifice follows the
simple, impressive, dignified design of the Roman-Doric period. Four engaged columns
with moulded caps and bases will support a
projecting cornice, surmounted by a massive
parapet, on which will be carved stone central
garlands and side pieces. The architectural
motif of the exterior is carried out in the bank
ing room itself. The ceiling will be broken into
panels by massive beams running from side to
side. These beams are supported on pilasters,
which provide a panel treatment for the side
walls..
Hoggson Brothers, who are among the bestknown bank planning experts of the country,
have given careful attention to the layout of
the banking room, so as to insure the greatest
facility and economy of operation, while pro
viding at the same time for the utmost comfort
and convenience of the bank’s patrons.

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

Architect’s perspective of new individual bank building for the First
State Bank, of Pittsburg, Kan., designed and to be erected, equipped,
decorated and furnished by Hoggson Brothers, builders, Chicago and
New York.

November, 1917

THE

NORTHWESTERN

BANKER

<59

YOU W IL L F I N D IT H E R E
T h in g s Y o u N e e d fo r Y o u r B a n k , Y o u r H o m e o r Y o u r s e lf

PORTRAIT BY COURTRIGHT STUDIO

K. NOLAND, REAL ESTATE AUCTIONEER

M ake an appointm ent for a sitting.

M ore than 1,000 successful sales of real estate a t auction;
six Iowa farms to the highest bidder in one day a t satisfactory
prices; sales for 1916 exceed $1,000,000.00. Send for list of bankers,
farm er and business men for whom I have sold. Inquiries cheer
fully answered.

COURTRIGHT STUDIO

S. K. NOLAND, Real Estate Auctioneer, DES MOINES, IOWA

— The K in d You Like to Show Your Friends.
— The K in d They Like to See.
Phone Red 5242
615 W alnut S t.
DES MOINES, IOWA

■ H I

Camping
Tents, Awnings
DES MOINES TENT

M 01 Ñ

| TOURING TENT J

& AWNING CO.

Lys

SILVER
PLATING

NICKEL
PLATING

fh e Most
M odem
Plant in the
Northwest

Steel Dies
Stam pings
EAST FIFTHST.
and courtave.

■;
*
E x p e r im e n t-

D E .S M O I N E S , IO W A ..U .S .A .

in S

w ickets, railings, partitions, w indow
Grilles,
guards, elevators, enclosures, fire escape
stairs, area grates, sidewalk doors, etc.

Central W ire and Iron W orks
Write us for quotations

LETTERS
P ro g ressiv e B anks sho u ld send le tte rs to th e ir cu sto m ers
a t least th re e tim es a year.
W e can reliev e y o u of all w o rry in se n d in g le tte rs.
Do
e v e ry th in g com plete.

DES MOINES DUPLICATING CO.

Das Moines, Iowa

Des Moines, Iowa

W ILL H. ZAISER SPECIALTY CO.
BANK EQUIPMENT

O rig in ato rs “ Z a ise r’s ” self-in d ex ed lo o se leaf b an k
ledgers. A n y a c c o u n t fo u n d in fo u r seco n d s. A full
line of b an k supplies an d sp ecialties. S h aw W a lk e r steel
and w o o d filing devices.
314 7th S tr e e t, DES MOINES, IOW A

U/VTCAIU V I A D I f
r n
DES MOINES’ LEADING FLORISTS. G r o w e r s of C h o ic e
• 1 1 1 La U i t r L U lY /iL L U , ROSES, VIOLETS, CHRYSANTHEMUMS, CARNATIONS,etc.,

Flowers for all occasions shipped anywhere. Wire, phone, mail or call.
BRANCH STORE—H arris-E m ery Co., OFFICE & GREENHOUSES—35 an d Ingersoll Ave., Phone D rake 584-585
DES MOINES, IOWA

IN n o m a n ;s l a n d a n d b e y o n d .
NEBRASKA NEWS AND NOTES.
(Continued from page 7.)
Stockmen’s Bank, Seneca, Neb., purchased from the
H. Ehrlich & Sons Manufacturing Co., St. Joseph, ficiency under some plan of unified regulation and op
Mo., a beautiful set of quartered oak fixtures with mar eration by which railroad credit will be protected and
ble dealing plates and base. The bank is very proud the expansion of railroad facilities properly encour
aged.
of its new fixtures.
Until Germany is beaten all our energies must be
Frank B. Knapp and a number of other Fremont concentrated on winning this war. There should be
men have bought the Rising City Bank, Rising City, no “profiteering” strides, and labor’s “excess profits”
Neb., one of the oldest and strongest institutions of should bear an equitable share of the war’s financial
Butler county. Louis Reichenbach, who established burdens. The government cannot now, of all times,
the bank thirty-five years ago, is retiring from active incur the loss and hindrance involved in settling re
business.
newed labor disturbances. Soldiers, capital and busi
J. E. Hansen will be the cashier at the Farmers State ness have been conscripted in democracy’s just cause.
Bank, at Genoa, Neb., with K. C. Knudson, president. It may be possible that in the near future the gov
Raymond Munkres has accepted a position as cashier ernment will be compelled to follow the lead of Eng
land and France and draft labor. It must do its part
in the bank at Sarben.
Farmers State Bank, Saronville, Neb., have erected in the common cause.
a new building, and have installed beautiful set of
quarter-sawed oak fixtures with marble base and mar
ble dealing plates, purchased from the H. Ehrlich &
Sons Manufacturing Co., St. Joseph, Mo.
Earl Else, who for several years has held the posi
tion of bookkeeper in the Citizens State Bank, of
See Page 21
Diller, Neb., has accepted a position in the Harbine
Bank of that city.

W hat Do Y ou Know
A bout Retailing

•

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

THE

NORTHWESTERN

Your B a n k
Is reflected by the sta
tionery you use.
We
specialize in printed and
engraved letter heads,
statem ent folders and
booklets.
S ervice , Q u a lity
and R ight P rices
A lw a y s
Printing - Binding - Loose Leaf Devices
Designing - Engraving - Embossing

THE HOMESTEAD GOMPANY
NINETEENTH AND GRAND

DES MOINES, IOWA
Our national machinery must not only be geared to
the speed and co-ordinated to the demands of war, but
it must be made adaptable to the world-wide recon
struction which will follow the war on such a colossal
scale as to tax our capacities to the utmost.
Meanwhile the United States must bend every ef
fort to increase its producing capacity, which, although
it is greater than ever, is not equal to the maximum
world demands now being made on it because much
European production is either diverted solely to the

BANKER

Noveinber, 1917

requirements of war or is in enforced idleness.
The armies of business, however, are still using the
old weapons and the old methods. There are no train
ing camps for business men as there are for soldiers.
Each merchant and manufacturer must study each new
question for himself as it arises. Interchange of opin
ion is only just beginning. The time is coming when
the co-operative effort for education, improvement and
co-ordination in this direction will become a mighty
force. The armies of business must be trained and
disciplined as thoroughly as the armies of war, so that
officers and men will know that it is “one for all, and
all for one,” instead of “every man for himself,” that
brings victory.
The commercial map of the world will be remade
after the war. The re-arrangement of the great high
ways of the sea, which was begun by the opening of
the Panama Canal, and was checked at the outbreak
of the world war, will be carried out. There will be a
shifting of the strategic trade centers of the world.
The great vantage points of commerce will rise or de
cline in power according to the re-arrangement of the
currents of international trade. Some will sink into
obscurity; others will become richer and more power
ful and be the centers of the commercial struggles of
tomorrow.
STATEM ENT OF OW NERSHIP.
Statement of the ownership of The Northwestern Banker,
published monthly at Des Moines, Iowa, for October 1, 1917,
as required by the act of Congress of August 24, 1912. State
of New York, county of New York. Before me, a notary
public in and for the state and county aforesaid, personally
appeared Clifford De Puy, Who, having been duly sworn ac
cording to law, deposes and says that he is the publisher of
The Northwestern Banker. Clifford De Puy is publisher, edi
tor*, managing editor and business manager. The owners are
Clifford De Puy, Mrs. Emerson De Puy and Alice De Puy,
Des Moines, Iowa. That the known bondholders, mortgagees
and other security holders owning or holding 1 per cent
or more of total amount of bonds, mortgages or other securi
ties are none.
(Signed) Clifford De Puy,
Publisher.
Sworn to and subscribed before me this 1st day of October,
1917.
G. C. Newell.
My commission expires March 30, 1919.

The Des M oines National Bank
D es M oines, Io w a
T he policy of 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. An expe
rience extending over thirty-five years in catering to such needs has
provided a broad understanding of the requirements in this field.
W e cordially invite a share of your business.

Capital an d S u rp lu s $ 900,000
R eso u r ces o v e r
10,000,000
Arthur Reynolds, President
John A. Cavanagh, Vice-President
John H. Hogan, Cashier
C. A. Barr, Vice-President
C. A. Diehl, Assistant Cashier

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

November, 1917

THE

NORTHWESTERN

BANKER

ESTABLISHED 1S72

R. A. CRAWFORD
President

BANKS

C. T. COLE, JR.
Vice-President
D. S. CHAMBERLAIN
Vice-President
W. E. BARRETT
Cashier

BUILDINGS
AND

INTERIORS
DESIGNED

New
and

AND
C O N STR U C TED

Modern
Home

Specialized Service

oi the
VALLEY NATIONAL BANK
and

FRIDSTEIN & COMPANY

VALLEY SAVINGS BANK

BANK ENGINEERS

DES MOINES, IOWA

NINTH FLOOR, MONADNOCK BLOCK

C o m b i n e d C a p i t a l a n d S u r p l u s , $ 7 5 0 , 0 0 0 .0 0

CHICAGO

For forty-four years this bank has satisfactorily served its customers.
May we add your name to our constantly growing list ol correspondents.

IOWA LOAN AND TRUST COMPANY
BANK

DES MOINES
with a capital and surplus of over one million dollars, and assets of eight million
dollars, is in the market at all times for high-grade farm mortgages at current
rates.
We desire connections with good, live banks in Iowa, South Dakota and Minne
sota who will furnish us a steady volume of loans.
We have the most attractive terms to offer for country bank accounts.
W rite us.
G. B. Hippee, President
D. H. McKee, Vice Pres.
B. B. Vorse, Cashier
L. E. Stevens, Vice Pres.
J. E. Morton, A ss’t Cashier
D. F. Witter, Vice Pres.
Edwin Hult, Secretary
Simon Casady, Treasurer
J. S. Corley, Asst. Secretary
MEMBER FEDERAL RESERVE SYSTEM OF THE UNITED STATES

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

THE

NORTHWESTERN

Farm-Loans
Special consideration at
this time given to appli
cations for loans covering
larger sized im p ro v ed
farm s in M in n e so ta,
North or South Dakota.

of the City of New York
57 Broadway

Capital
. . . .
Surplus and Profits (Earned)
Deposits (Sept. 11, 1917)
.

$ 10,000,000
12,623,000
302,027,000

OFFICERS
A. Barton Hepburn, Chairman

DIRECTORS
H enry W . Cannon
F ran k A. S ayles
A. B arton Hepburn
Charles M. Schwab
A lb ert H. W iggin
Sam uel H. M iller
John J. M itchell
Edward R. T inker
Guy E . Tripp
H enry B. E ndlcott
Jam es N. H ill
Edward T. N ichols
D aniel C. J a ck lin g
Newcom b Carlton
F red erick H. Ecker

SCHANKE & COMPANY
BANKERS

The Chase National Bank

A lbert H. W ig g in , P resid en t
Samuel H. M iller V ice-P res. Win. E. P u rd y. . .A sst. Cash.
Edward R. T in k er. .V .-P res.
Chas. D. Sm ith. .A sst. Cash.
Carl J. Schmidlapp V .-Pres.
W m. P. H o lly . . . A sst. Cash.
Gerhard M. D a h l. . . V .-Pres.
Geo. II, Saylor . . A sst. Cash.
A lfred C. A n d rew s. . Cashier
M. H. H ow ell . . . A sst. Cash.
Charles C. Slade A sst. Cash.
S. Fred T e lle e n . . A sst. Cash.
E d w in A. D e e .. .A sst. Cash.
R obt. I. B a r r ...A s s t . Cash.
S ew all S. Shaw, A ssista n t Cashier

Offerings submitted will
be promptly acted upon.

MASON CITY, IOWA

November, 1917

BANKER

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.
FOREIGN EXCHANGE DEPARTMENT

Drovers National Bank
OF CHICAGO
OFFICERS

DIRECTORS

W IL L IA M C. CU M M IN G S, P r e s id e n t

A V ER IL L T IL D E N

M E R R IL L W . T IL D E N , V ic e -P re s id e n t

L . B. PA T T E R SO N

C H A R L E S FE R N A L D , V ic e -P re s id e n t
F R E D E R IC K N . M E R C E R , C a s h ie r

JO H N FL E T C H E R
M E R R IL L W . T IL D E N
W M . C . C U M M IN G S

H A R R Y P . G A T E S, A ss t. C a s h ie r

BRYAN G . T IG H E

D A LE E. C H A M B E R L IN , A ss t. C a s h ie r

C H A R L ES FE R N A L D

G E O R G E A . M A L C O L M , A sst. C a s h ie r

H . J . A A RO N

Capital and Surplus, $1,000,000
Has for over thirty years rendered quick and efficient service
to its correspondents

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

Full text of The Northwestern Banker : November 1917, Twenty-Second Year, Number 363

FRASER