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Bank Underwriting Bill Moves Ahead
The American Bankers A ss o ci­
ation has urged enactment of
S. 1306, which would authorize
national and state member banks
to underwrite and deal in all
eligible
obligations
issued or
guaranteed by, or on behalf of,
a state or any political subdivision
or agency of a state. Further sup­
port for this position before the
Subcommittee on Financial Insti­
tutions of the Senate Banking and
Currency Committee came from the
Comptroller of the Currency, the
Federal
Reserve Board (which
reversed its previous stand on the
issue), and the National League of
C ities. It was opposed before the
Subcommittee by the Independent
Bankers A ssociation of America
and the Investment Bankers A s s o c i­
ation.

B U L L E T IN S ...

♦

DES MOINES: Hugh Van Hosen re­
signed September 5 as a vice pres­
ident at Bankers Trust Company,
where he headed the installment
loan department, which he helped
organize. Mr. Van Hosen had been
with Bankers Trust 33 years. He
is joining the insurance firm of
Witmer-Kauffman, Evans, Inc. in
Des Moines.
ELM CREEK, NEBR.: Controlling
interest in the Elm Creek State
Bank has been sold to Ronald E.

Bycroft, president of the Exchange
Bank at Gibbon, by Cooper H. Butt,
president of the Elm Creek bank.
Mr. Butt will continue as president
of the bank and no officer or direc­
tor changes have been announced
at this time. Mr. Bycroft will con­
tinue to live in Gibbon and will
continue as active president of
the Exchange Bank there. The sale
was negotiated by Robert R. Krue­
ger, Omaha.
GOOSE LAKE, IA.: Robert C.W ede,
cashier of the Goose Lake Savings
Bank, has purchased controlling
interest in the bank, which has an
office in Charlotte, and the insur­
ance agencies operated in Goose
Lake and Charlotte, from the estate
of the late O. F. Walker, former
president. The sale was announced
September 6. Mr. Wede has assumed
the position of president and cash­
ier. All other officers remain the
same. At the September board meet­
ing, new members elected were
Francis A. Burns and Robert C.
Wede, who succeed Mr. and Mrs.
Walker.

NATIONAL NEWS
KANSAS CITY, MO.: Rufus Crosby
Kemper, chairman and chief ex­
ecutive officer of the City National
Bank & Trust Company, retired

September 5 after 48 years in
Kansas City banking. Mr. Kemper
joined the City Center Bank in
1917 and became its president in
1919. The bank acquired its present
name in 1934, and Mr. Kemper con­
tinued as president until 1959,
when he became chairman. Suc­
ceeding him as chairman of the
board is the former vice chairman,
Charles G. Young, Jr., who will
continue to head the trust and
bond departments and all the bank’ s
administrative services divisions.
R. Crosby Kemper, Jr., will con ­
tinue as president of the bank and,
in addition, was named the chief
executive officer.
KANSAS CITY, MO : Maurice J.
Swords, ch ief examiner at the Fed­
eral Reserve Bank of Kansas City,
has been named vice president to
succeed G. D. Royer, Jr., who re­
tired August 31. Robert E. Scott
has been promoted from assistant
chief examiner to ch ief examiner.
Donald I. White was advanced from
assistant cashier to assistant vice
president, effective October 1. He
succeeds retiring James C. Craig,
Newly elected as assistant cash­
ier was Estus A. Swanson.
LOS ANGELES: V ice President
Lawrence J. Sloane of the United
California Bank has also been
named cashier of the bank to su c­
ceed Charles F . Schwan, who will
(Continued on back page)

♦

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Member Federal Reserve System

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Federal Reserve Bank of St. Louis

Member Federal Deposit Insurance Corp.

CHILES & COMPANY
Member, Midwest Stock Exchange

M U N IC IP A L A N D C O R P O R A T E B O N D S
LISTED, U N L IST E D A N D L O C A L ST O C K S
412 Farm Credit Building, Omaha, Nebraska 68102
Phone 346-6677

LEO
SCHLUETER

C H R IS T Y
A R M STR O N G

‘WE HAVE WHAT YOU WANT
in

a

correspondent

bank’

american trust
and sa v in g s ban k
9TH AND MAIN, DUBUQUE, IOWA
MEMBER: FDIC • FRS

IOWA NEWS
BELLEVUE: The Bellevue State
Bank recently held a grand open­
ing in its new bank building,
located in the Bellevue business
district, Lester Reed is president
of the bank.
DALLAS CENTER: Jim Johnson,
who has been at the Waukee office
of the Brenton State Bank for the
past seven years, has been named
vice president of the bank and
will serve at the bank’ s head
office in Dallas Center.
EARLY: Marvin G. Hansen has
been advanced from vice president
to president at Early Savings Bank,
filling the vacancy created by the
death last month of Ray Stevens.
Donald W. Kelley, cashier, was
elected vice president and cashier.
FONTANELLE: The State Savings
Bank of Fontanelle has undergone
extensive repair work and refur­
bishing of the exterior of its build­
ing recently.
MAQUOKETA: The Jackson State
Bank of Maquoketa is sponsoring
its eighth annual farm institute

Monday evening, September 11.
Speakers include John B. Herrick,
extension veterinarian; Jon Van
Wambeck, broker for the Ferguson
Grain Company of Chicago, and
David Luett, vice president of the
bank. T op ics to be discussed
include future’ s trading, precondi­
tioning cattle feeder and farm out­
looks.
MITCHELLVILLE: The Omaha o f­
fice o f the Federal Bureau of
Investigation has published the
serial numbers of the following
bait money, included among the
currency taken in the August 17
robbery of The Farmers Savings
Bank: five $20 Federal Reserve
notes, Series 1963, bearing the
serial numbers G02089566A through
G02089570A; five $20 Federal
Reserve notes, Series 1950D, bear­
ing the serial numbers G65078031C
through G65078035C. Anyone loot*
ting this currency should telephone
the Omaha district office of the
Federal Bureau of Investigation
collect,
402-348-1210. Approxi­
mately $10,000 was stolen in the
daytime robbery.
PE LLA : The Mahaska State Bank
recently awarded a $300 college
scholarship to Delmar Van Wyk of
Pella. The scholarship was part
of program of several Pella busi­
ness firms to encourage education
of P ella area residents.
RICKETTS: Paul H. Claussen has
been elected president of the Farm­

We're here to help
you get what you want

I0WA-DES MOINES
NATIONAL BAN K
Jerry Nelson

Member Federal Deposit Insurance Corporation

ers Savings Bank of Ricketts.
Mr. Claussen has been cashier of
the bank for 16 years. Prior to
that time he served with banks in
Lohrville and Coon Rapids. Newly
elected as vice president of the
bank is E. W. Claussen, also
president of the Farmers State
Bank of Schleswig, and Wayne C.
Kuhlmann
was
advanced
from
assistant cashier to cashier of
the bank.
ROCK RAPIDS: Charles Turner,
formerly o f Kearney, Nebraska,
has joined the staff o f the Lyon
County State Bank.

NEBRASKA NEWS
HOLDR.EGE: Ralph Misko, pres­
ident of First Security Bank, sold
his controlling interest in the
bank September 1 to Winston Lar­
son, vice president and ag repre­
sentative; William F. Nelson, a s ­
sistant cashier; and John Dier and
Richard Person, loca l attorneys.
Mr. Person has been elected pres­
ident. Mr. Larson continues as
vice president and ag representa­
tive. Mr. Nelson has been elected
cashier. W. M, Pritchard, who was
also cashier, continues in the
bank as vice president. All four
men will be elected to the board
of directors. Mr. Misko will con­
tinue as chairman of the board of
City National Bank in Lincoln.
His future business plans have
not yet been announced. Mr. and
Mrs. Misko leave today (Septem­
ber 11) on a three-week trip to
Russia and other European coun­
tries with approximately 30 other
Nebraska bankers and their wives.
OMAHA: The First National Bank
of Omaha recently installed a
geophysical globe, six feet in
diameter, in its main lobby. The
Farnam Street doors of the bank
had to be removed to move the
globe into the bank. The globe is

Always the First to Serve You!

First National Bank of Omaha

16TH & FARNAM - OMAHA, NEBRASKA
Member Federal Deposit Insurance Corporation


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Federal Reserve Bank of St. Louis

LINCOLN

••

-Professionals in Livestock Loans

FIRST NATIONAL BANK S TRUST COMPANY OF LINCOLN
1 2 th & N S t r e e t • L IN C O L N , N E B R A S K A • M em b er: F .D .I.C .

part of the bank’ s Salute to Edu­
cation in its Nebraska Centennial
observance.

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OMAHA: Programs for the six
group meetings and banks assigned
to the topics have been announced
by Harris Osterberg, executive
vice president of the Nebraska
Bankers A ssociation : “ What a
Small Bank Needs to Know About
Computers,’ ’ The Omaha National
Bank; “ The Washington Scene,”
First National Bank, Lincoln;
“ What’ s Next For Cattle, Hogs
and Sheep,” Stockyards National
Bank, Omaha; “ An Analysis of
Bond and Insurance Coverage for
Banks,”
First National Bank,
Omaha; “ What Lies Ahead in SelfEmployed
Pension
Programs,”
U. S. National Bank, Omaha;
“ Standardization of P olitical Sub­
division Warrants and Bank Docu­
ments,” National Bank of Com­
merce, Lincoln.
OMAHA: B ill B. Beavers has
joined Chiles & Company as a
vice president, according to War­
ren C hiles, president of the in­
vestment firm. Mr. Beavers has
been in the investment business
in Nebraska for five years.

MINNESOTA NEWS

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BRECKENRIDGE: Bruce Jacobson,
assistant cashier at the First
National Bank in Breckenridge,
has announced his resignation.
Mr. Jacobson will join a bank in
Cambridge, Massachusetts.

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CROOKSTON: The board of direc­
tors of the First National Bank
of Crookston has elected Leonard
V. Bergan, owner of the Crookston
Implement Company, to fill the
unexpired term of Dr. Harold Thysell on the board. Dr. Thysell
resigned in June.
MINNEAPOLIS: Floyd L. Dwight,
vice president and trust officer
at the First National Bank of
Minneapolis, retired recently after

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Gross Co

BANK PLANNING
Waterloo, Iowa


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

26 years with the bank. Mr. Dwight
headed
the trust department’ s
business development division. A l­
so retiring were Jarl Olsen,v and
Myron Pow ell, assistant vice pres­
idents. Mr. Olsen joined the bank
in 1931 and Mr. Powell in 1929.
Monroe C. Setterberg resigned from
the bank as assistant secretary
and head of the bank’ s trust tax
division, a position he has held
sin ce 1942.
ST. CLOUD: D. J. Foquette, chair­
man of the board of the St. Cloud
National Bank, has announced an
authorized increase in the bank’ s
capital structure to $1 million.
The increase was accomplished
through the issuance of an addi­
tional 5,000 shares of common
stock and an increase of $50,000
in the bank’ s surplus account.
ST. PAUL: John W. D riscoll, ex­
ecutive vice president of Rock
Island Corp., has been elected to
the board o f directors of The First
National Bank of St. Paul, accord­
ing to a recent announcement by
Philip H. Nason, president.
SAVAGE: Robert F. Burgwald,
treasurer of Power T o o ls, Inc.,
of Eagan, was recently elected
to the- board o f directors of the
V alley National Bank.
WINONA: Allen Jertson has been
named an assistant cashier in the
installment loan department by
the First National Bank of Winona.
Mr. Jertson entered banking in
1957 with the Merchants National
Bank in Winona, and has been
with Northwestern National Bank
in Rochester for the past six
years.

:

I

SOUTH DAKOTA NEWS
HOWARD: Robert Thompson, pres­
ident of the Miner County Bank in
Howard, announced that the banks
in Miner County have changed their
hours, effective September 1. The
banks, including the Miner County
Bank, the Security State Bank at
Canova and the Farmers State
Bank at Carthage, will operate on
the regular schedule Monday through
Thursday, and will clo se at 4 p.m.
Friday, then reopen from 5 p.m. to
7 p.m. for evening business.

MONTANA NEWS
BUTTE: Consolidation o f the First
National Bank of Butte and Daly
National Bank of Anaconda was
permitted August 30 by U.S. D is­
trict Judge R ussell E. Smith of
Missoula,
Albert E. Leuthold,
Montana banking superintendent,
had previously brought suit against
William B. Camp, comptroller of the
currency, charging that the merger
violated Montana laws against
branch banking. Judge Smith con ­
tended that the merger did not
con flict with state or federal bank­
ing. laws, even though the Daly
Bank will acquire assets of First
National in exchange for North­
west Bancorporation stock and
will operate full banking facilities
in both Butte and Anaconda. Ap­
peal was filed the following day
in the Ninth Circuit Court of
Appeals in San Francisco, accord­
ing to Donald Garrity, Montana as­
sistant attorney general.
KALISPELL: Eugene O. Gillette
will
become president of the
Conrad National Bank on October 1
to su cceed Alex K. Sample, Jr.,

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the Security National Bank
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SECURITY

NA TI O NA L

BANK

PINED ALE: Larry R. Mee has
joined the First National Bank of
Pinedale as cashier. Mr. Mee had
been in banking for a number of
years before taking a position
with the Colorado division of the
American Cancer Society a year
and a half ago.

FRANK
S I B E R T ....
A GOOD MAN
TO KNOW
WHEN YOU
YEED S PEC IA L H ELF i

t'M

COLORADO NEWS

STOCKYARDS
N ATION AL
BANK
Omahiì, Nebraska

Member ]FDIC

who will become chairman and
chief executive officer of the
Bank o f Nevada in Las Vegas. Mr.
Sample has been chairman and
president sin ce 1961 and has been
with the bank sin ce 1957. Mr.
Gillette has been in banking most
of his career and joined Conrad
National in 1962. He is currently
serving as senior vice president.
Mr. Gillette has also been elected
to the board of directors.

DENVER: Neil F. Roberts, pres­
ident of the Denver U.S. National
Bank,
recently
announced the
bank’ s plan to introduce a check
guarantee program as part of the
bank’ s
regular
services.
The
service, called “ Super C heck,’ ’
combines a regular checking ac­
count with a ready cash reserve
of $300 to $2,400. The reserve is
a free service until it is activated,
when a 1% monthly interest charge

LANDER: Bruce G. Armentrout has
been promoted from vice president
to vice president and cashier at
the First National Bank of Lander.
Mr. Armentrout joined the bank
in 1965. Mike M. Mercer has been
named assistant cashier of the
bank. Mr. Mercer joined the bank
in June as an operations officer.

♦

NATIONAL NEWS
(Continued from front page)
retire in October after 40 years
with the bank. W. G. Gohler and
H. G. Rittenhouse have been named
vice presidents in the international
department, and J. E. Sargis was
named commercial loan officer for
the bank’ s Beverly H ills branch.
SAN FRANCISCO: Nine San Fran­
c is c o policemen have undergone
training for second job s as tellers
at the Bank of America. Although
they will not wear uniforms, they
will carry guns at all times, as
required by police department regu­
lations.
agriculture loan and insurance ex­
perience desirable. Good future
potential. Send resume, picture
and if desired, state salary require­
ments. F ile RRV, in care of the
NORTHWESTERN BANKER, 306 15th S t., Des Moines, Iowa 50309.

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PROOF MACHINE
For Sale: Burroughs F-600, 27pocket Proof Machine, 1964 model,
with manual sorter; excellent con­
dition. Available after October 1.
Contact Jim Tank, Cashier, Central
Trust and Savings Bank, Eldridge,
Iowa 52748.

WYOMING NEWS
CHEYENNE: W.G. (Buddy) Ragley,
senior vice president of the Ameri­
can National Bank, has resigned
to take a position with the Farm­
ers & Merchants Bank of Las
Cruces, New Mexico. Mr. Ragley
came to the American National in
1965 from the Mercantile National
Bank in D allas, Texas, and was
elected senior vice president in
1966.

is incurred. The service will be
available to customers with a
proven credit record.

ADVERTISING HELPS
For the agricultural banker —ads,
mats, editorials and newsletters
that s e ll full service banking to
farmers. Samples available - The
Farm Business C ouncil, Inc., P.O.
Box F , Urbana, Illinois 61801.
BANK OFFICER OPPORTUNITY
Immediate opportunity for opera­
tions officer in rural $2*4 million
bank in Red River V alley. Some

560 BANKERS 560
Desire position to serve as your
Chicago correspondent. Offer full
range of skills and facilities. Serve
you with plenty of personal atten­
tion. Agents in your area full time.
For immediate action call Max Roy
in Iowa City at 338-5224 or Cy
Kirk in Des Moines at 277-2602.
Or call La Salle National Bank,
135 South La Salle St., Chicago,
Illinois 60690. STate 2-5200 (area
code 312).

T

FOR SALE
Six oak teller units, all wood con­
struction, marble customer slabs.
Reassembled units can be seen.
Offers many years ecónomical use.
The Northwest Des Moines National
Bank, Box 2098, Des Moines, Iowa
50310. Phone 515-276-6709.
FARM LOAN OFFICER

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Bank Under the Big

CENTRAL

NATIONAL

1

“ The Bank That Cares’

BANK

AND

TRUST

M e m b e r F e d e ra l D e p o s i t I n s u r a n c e C o r p o r a t i o n

COMPANY

Public relations, etc. for E ast­
ern Iowa bank. Ag college grad
preferred. Age 27-34. Good s a l­
ary, plus excellent fringe bene­
fits. Contact:
Bankers Service Corporation
1301 Register & Tribune Building
Des Moines, Iowa 50309
Phone 515-244-8163

No. 1054 Northwestern Banker is published five times monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des
Moines, Iowa 50309. Subscriptions 50tf per copy, $6 per year. Second c la ss postage paid at D es Moines, Iowa. Address all mail
subscriptions, changes of address (Forms 3579), manuscripts, mail items to above address.


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Federal Reserve Bank of St. Louis

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