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Des Moines, lowa Vol. 1. No. 25 V iew N eed fo r B a n k ers’ P o l it ic a l R o le Expressing concern over the indif ference by bankers to happenings in government, William G. Kirchner, presi dent o f the Minnesota Bankers Associa tion, presented his views to the Com munity Banker Forum at the American Bankers Association Convention in San Francisco last week. Mr. Kirchner is president o f the Richfield Bank and Trust Company, and a Minnesota state senator. Excerpts from his text follow : A fter my election to the state legis lature I was really amazed at the indif ference to happenings in government. I ask you — how carefully have you supervised your investment in govern ment? Have you totaled how much o f your income is spent on government? Add your income tax to your part o f the tax paid by the bank in which you participate as a stockholder or as an employee to your sales tax, real estate tax, cigarette and liquor taxes, your gasoline taxes and what have you? When you spend this much money for clothing or for facilities at home, or for food items, you shop very carefully. Your wife may spend hours at the grocery store trying to save a few dollars on the grocery bill. You check materials and quality o f the clothing you buy. Do you do the same thing with your government purchase? Did you help select and vote for your government leaders? Have you checked on the quality o f the representa tion you bought? Are you satisfied that they are making the best use o f the dollar that you are investing in govern- W. G. Kirchner ment, or are you just sitting at home or in your bank complaining without really knowing. Bankers have special training and knowledge o f financial affairs. You sit at the center o f the crossroads in your community. You should be able to con tribute greatly to orderly and economical government. Someone will say to you, or you will imagine, that if you get very active in politics that you are going to lose a lot o f accounts. I just don’t believe it’s true — it just ain’t so! You could become an obnoxious person in your political pursuits and lose accounts. You can do that whether you are taking part in your government or riot. I have found in my 10 years o f Minnesota legislative experience — four in the State House and six in the State Senate — that those of the opposite party have respected me more for speaking out and taking a position on issues than has been their disappointment or objection to my stand. _ _ _ _ _ _ _ October 25,1971_ _ _ _ _ _ _ Have you been distressed because your state legislature seems to know nothing about the banking profession and its needs? Have they been relentless in pressing for favor o f the consumer, the welfare person, the school teacher or someone else? Has there been anyone participating in government at your level who knew the problems o f the bank, or someone who knew that certain legislation would make it impossible for a business to have adequate income to be prosperous and to return something to its stockholder as well as provide com munity service? Have you had some rules placed upon you that are rather ridicu lous in regard to overdrafts or returned checks or your other responsibilities? Have you had to meet some rather ridiculous requirements as to the kind o f reports? Do you find that the coopera tive groups or competitive institutions are infringing on your area o f activity and the very foolish legislators are mak ing laws giving them unfair advantages? Have you considered the training and loyalties o f your legislators? If so, do you find that labor groups, farm groups and cooperative groups supported some of their members and successfully sent them to the legislature? What have you done to support a banker or someone friendly to business in his campaign for the legislature? Have you been willing to take a few years out o f your banking activities to serve in the legislature? Someone must do it. Should the re sponsibility be passed on to the other fellow? I f you default, you must recog nize that other philosophies^ will in- (Continued on back page) The only correspondent bank you’ll really ever need. That’s a promise. À https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Central National Bank & Trust Company LOCUST AT SIXTH AVENUE, DOWNTOWN DES MOINES, PHONE 243-8181. MEMBER FDIC. We know the importance of your bank to your community. Correspond with us. • IOWA-DES MOINES NATIONAL BANK George H aniagel Member Federal Deposit Insurance Corporation Record Attendance at ABA through Wednesday noon, October 27. Approximately 5,000 bankers, wives and guests attend the convention each year. A new record registration for an American Bankers Association conven tion was registered in San Francisco last FO R T DODGE: Bruce R. McCullough, week for the 96th annual meeting. The assistant operations officer o f The State “ City by the Bay” had drawn a new high Bank, has been promoted to the position o f more than 14,500 persons by the first o f assistant cashier, according to James day and unofficial estimates had the H. Redman, president. Mr. McCullough, registration topping the 15,000 mark a who joined the bank in. 1964, will day or two later. continue his duties in the operation o f Allen P. Stults, chairman and chief the bank. executive officer o f the American Nat ional Bank & Trust Company, Chicago, OELWEIN: Churchill T. Williams, presi dent, and William P. Wilson, executive was advanced to the presidency for 1971-72. Eugene H. Adams, president, vice president, Oelwein State Bank, have First National Bank o f Denver, was purchased controlling interest in the bank from W. Palmer Wilson, chairman. named president-elect, the new title voted in at this convention that replaces Mr. Wilson was the founder o f the bank the former title o f vice president. He in 1946 and will remain as chairman o f the board. succeeds to the post held the past year by Mr. Stults. The outgoing president, WELLSBURG: The Peoples Savings Clifford C. Sommer, was named to a new Bank recently opened its drive-up win post created by constitutional changes dow at a recent ribbon-cutting cere that were approved unanimously at the mony. Open house for the completely convention. As immediate past president, remodeled bank will be held on Satur he will serve as chairman o f the govern day, November 20, according to Leland ing council. Mr. Sommer, who has been D. Luwe, executive vice president and president for many years o f Security cashier. Bank & Trust Company, Owatonna, will move next month to Minneapolis to take NEBRASKA NEWS up his new duties as vice president o f the Northwest Bancorporation. CLARK S: James Heins has recently Elected A B A treasurer was Joe H. joined the staff o f the Bank o f Clarks Davis, Sr., executive vice president o f the according to a recent announcement by First National Bank in Memphis. Clark Caley, president. Mr. Heins is a native o f Central City. IOWA NEWS DES MOINES; The 85th annual conven tion o f the Iowa Bankers Association got under way at Hotel Fort Des Moines on Sunday, October 24 and will continue HOSKINS: Edwin JJ. Kollath, cashier o f the Commercial State Bank since 1944, died recently at the age o f 68. WEST PO INT: Rudolph H. Freudenburg, we're here on your account SECURITY NATIONAL BANK 6S IOT HU XA NCDIT YP,I EIORWC EA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis president o f the First National Bank o f West Point and First National Bank o f Scribner, died recently at the age o f 75. He had been suffering from a long illness. MINNESOTA NEWS CAMBRIDGE: Robert C. Becklin has been elected president o f the Peoples State Bank o f Cambridge according to Elgin F. Gunderson. Mr. Gunderson will remain active in the organization as chief executive officer. Mr.. Becklin is cur rently serving his fifth term in the Minnesota House o f Representatives. DULUTH: Dale Abrahamson has been named trust marketing representative o f the First American National Bank ac cording to Orley Rath, vice president o f the trust department. He is a graduate o f William Mitchell College o f Law, St. Paul. MINNEAPOLIS: Robert A. Dwyer, re gional director, and Paul W. Jansen, new Minnesota district director, both o f the Small Business Administration, cited a rapid rise o f loans in this region. In Minnesota, 503 loans for $26,766,811 were approved in fiscal 1971, an increase o f 13 percent over 468 loans for $23,533,000 in fiscal 1970. MINNEAPOLIS: First National Bank o f Minneapolis has elected three new com mercial banking officers and advanced two other officers to assistant vice presi dent. The promotions are those o f Bent ley E. Black, Edward R. Landes and Glen R. Walters to commercial banking offi cers, Gerald L. Reichwald to assistant vice president in First Totalplan, and Gordon D. Crum to assistant vice presi dent at the North Side Office. ST. CLOUD: Daniel J. Fouquette, chair man o f the board o f the St. Cloud National Bank, was recently honored at a testimonial dinner for his 55 years of banking service, prior to his retirement. Northeast Iowa Banks When you’re ready for It, make an appointment to see our computer compute. It can solve a lot of problems for your bank. When your bank needs this or any other service, call Bill Rickert or Ken Young. National Bank of W aterloo % W - ft 'Call on the "P erform a nce TeamV. . Specialists in underwriting and distributing Municipal Bonds. FIRST NATIONAL BANK B TR UST COMPANY OF LINCOLN 13th and M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C. ILLINOIS NEWS CHICAGO: Frank McNair, retired execu tive vice president o f the Harris Trust and Savings Bank, died in Lisbon, Portu gal, while on an extended tour. NORTH DAKOTA NEWS MINOT: Raymond A. H. Brandt, one time executive vice president o f the First National Bank in Minot, died recently at the age o f 76. He was chief executive officer o f the bank from 1934 to 1945. COLORADO NEWS DENVER: Lynn B. Reed, a KO A radio account executive for the past six years, has joined The Central Bank and Trust Company as director o f advertising ac cording to Don Hoffman, president. He replaces Herman Rachut, who is re turning to his native Iowa to become president o f the Burt Savings Bank. DENVER: Dan Clark was recently elec ted installment loan officer o f the Color ado National Bank, according to Melvin J. Roberts, chairman o f the board and chief executive officer. He joined the bank in 1970. DENVER: Myron E. Karsten, former president and director o f First National Bank o f Fleming, Colo., and a former Iowa banker, was indicted by the Denver federal grand jury on October 5 on four counts o f misapplication o f funds and making false entries in national bank books during 1968. He pleaded not guilty. Robert N. Bottenfield, 45, former vice president o f Fremont National Bank, pleaded guilty to a charge of embezzling $4,300 from the bank in 1970 and not guilty to two other embezzling charges. In a third case, John V. Whitten, former vice president, Western National Bank o f Colorado Springs, pleaded not guilty to charges o f making a false entry of $3,500 in that bank’s books. STEVEN H. PARRISH G O LD L E A F SIG NS Specialist to tlie BanIt Trade Since 1922 SOUTH DAKOTA NEWS KENNEBEC: Defective wiring in a near by building was blamed for in the fire that heavily damaged the Kennebec Branch o f the United Bank o f Ver million, in Kennebec, recently. PARK ER: Funeral services were held recently for Vinal B. Clikeman. Mr. Clikeman was chairman o f the board o f the Parker State Bank in Parker. SIOUX FA LLS : W. Ray Laird has joined the staff o f the Northwestern National Bank o f Sioux Falls, according to C. A. Lovre, president. Laird, a native o f Sioux Falls, has been employed by banks in California for the past seven years. SIOUX FA LLS : Wendall O. Laiboe has been elected vice president-cashier of Union Bank & Trust in Sioux Falls. His election was announced by John T. Vacurevich, the bank’s president. SIOUX FA LLS: The Western Bank o f Sioux Falls is constructing a branch bank which will be known as the Western Bank North. The main building will be 54x65 feet, with four lanes leading to drive-in stalls. The building is approxi mately 40 per cent completed. It is expected to open in late November. WYOMING NEWS CHEYENNE: R. Lee Van Deren, a Cheyenne banker and vice president o f the W yom ing Bancorporation has been named a member o f the WyomingNebraska Regional Export Expansion Council by the U.S. Department of C o m m erce. The Wyoming-Nebraska council, headquartered in Cheyenne, is one o f 42 groups in the United States which work with the Commerce Depart- Get to know BOB REED 5 Random Road Oalt Ridge SUPERIOR, NEBRASKA 68978 ment in expanding foreign markets for U.S. exports. L Y M A N : Marks O. Morrison has sold a portion o f his stock in the Farmers State Bank, Lyman, to E. A . Karsten of Sterling, Colorado. Mr. Karsten is now the new principal stockholder and Mr. Morrison will remain as president and on the board o f directors. Mr. Karsten is presently chairman o f the board o f An drew Savings Bank, Andrdw, Iowa. Carroll W. Couch, executive vice president, will remain as manager along with all other employees. No changes are antici pated in the operation or management. MONTANA NEWS HELENA: A bank executive EDP con ference was held, Mr. John A. Dowall, superintendent o f banks for Montana, announced. The conference was sponsored by the State Department o f Banking in conjunction with the Conference o f State Bank Supervisors. Glenn L. Allen o f Washington, D.C. represented the lat ter. FOR SALE Brandt electric coin sorter and counter, Model SLD, good condition — $515. Brandt electronic sorter and count er, Model 680 with cumulative total izer, excellent — $885. Great Plains Vending Co., 701 West Cherokee Avenue, Sioux F alls, South Dakota. 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Just write or phone Cy Kirk or Max Roy at the LaSalle National Bank in Chicago today. Telephone (312) 443-2774. — M NB correspondents Blake B ales V ice President M ERCHANTS NATIONAL BANK CEDAR RAPIDS, IO W A 52401 M EM B ER F.D .I.C . Vol. 1. No. 25 Northwestern Banker Newsletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25^ per copy, $6 per year. Second c la s s postage paid at D es Moines, Iowa. Address all https://fraser.stlouisfed.org mail subscriptions, changes o f address (Form 3579), manuscripts, mail items to above address. Federal Reserve Bank of St. Louis
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